MEMORANDUM
To: Mike Wildgen
City Manager
From: Debbie Van Saun
Asst. City Manager
Re: street maintenance program funding for 2006
Date: July 20, 2005
Responding to questions regarding the level of funding proposed in the 2006 budget for the street maintenance budget, we provide the following information as per the June 20, 2005 staff memo that was presented at the June 29, 2005 budget study session:
2005 funding of street maintenance program
|
Funding Source |
Amount of Funding |
Program Component |
|
General Fund |
$ 650,000 |
mill/overlay |
|
Gas Tax |
750,000 |
mill/overlay |
|
G.O. Bonds |
700,000 |
mill/overlay |
|
Gas Tax |
65,000 |
chip & seal |
|
Stormwater |
150,000 |
curb repair |
|
Gas Tax |
165,000 |
curb repair |
|
General Fund |
425,000 |
curb repair |
|
General Fund |
100,000 |
crack seal |
|
|
$3,005,000 |
TOTAL |
2006 funding of street maintenance program
|
Funding Source |
Amount of Funding |
Program Component |
|
General Fund |
$1,300,000 |
mill/overlay |
|
Gas Tax |
750,000 |
mill/overlay |
|
G.O. Bonds |
700,000 |
mill/overlay |
|
Gas Tax |
75,000 |
chip & seal |
|
Stormwater |
150,000 |
curb repair |
|
Gas Tax |
165,000 |
curb repair |
|
General Fund |
425,000 |
curb repair |
|
General Fund |
500,000 |
crack seal |
|
|
$4,065,000 |
TOTAL |
To summarize the tables, we are proposing to increase the mill/overlay budget from $2,100,000 to $2,750,000; the chip & seal budget from $65,000 to $75,000; and the crack sealing budget from $100,000 to $500,000 in 2006. The curb repair budget will remain the same at $740,000. There are no reserve funds targeted for these street maintenance program components in 2006 and the debt financing portion remains the same at $700,000.
The proposed additional funding for the street maintenance program from the General Fund will draw down the fund balances. The projections provided by Ed Mullins indicated that the year end 2006 fund balance will be around 22% of expenditures, which is a reduction from the projected 30% fund balance for 2004.
(see 2006 City Manager’s Recommended Operating and Capital Improvement Budget)
http://www.lawrenceks.org/Budget2006/cm_recommended_budget/gen_proj.html