HomeMy WebLinkAboutR-11338 approving an amendment to the 2022-23 Budget Allocation for the Cultural Arts District Parking StructureR 11338
RESOLUTION NO. 11338 (2022 SERIES)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN LUIS
OBISPO, CALIFORNIA, APPROVING AN AMENDMENT TO THE 2022-
23 BUDGET ALLOCATION
WHEREAS, in accordance with the San Luis Obispo City Charter Section 802, the
City Manager submitted the Fiscal Year 2022-23 Supplemental Budget to Council for its
review and consideration on June 7, 2022; and
WHEREAS, on June 7, 2022, the Council approved and appropriated the 2022-23
Supplemental Budget including operating expenditures, debt service, and capital
improvement plan budget; and
WHEREAS, the City received updated cost estimates for the Cultural Arts District
Parking Structure reflecting an increase in construction costs reflective of recent market
construction cost escalation; and
WHEREAS, the 2022-23 Supplemental Budget provided a Parking Fund Five Year
Forecast inclusive of construction cost escalation for the Cultural Arts District Parking
Structure; and
WHEREAS, the City will be utilizing Parking Fund Unreserved Working Capital to
build Phase 1 of the Cultural Arts District Parking Structure and needs to appropriate the
budget from the fund balance.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of San Luis
Obispo as follows:
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Resolution No. 11338 (2022 Series) Page 2
R 11338
SECTION 1. The 2022-23 budget is hereby amended to appropriate $1,387,900
of the City’s Parking Fund Unreserved Working Capital balance to the Cultural Arts
District Parking Structure CIP project budget.
Upon motion of Vice Mayor Christianson, seconded by Council Member
Shoresman, and on the following roll call vote:
AYES: Council Member Marx, Pease, Shoresman, Vice Mayor
Christianson, and Mayor Stewart
NOES: None
ABSENT: None
The foregoing resolution was adopted this 21st day of June 2022.
___________________________
Mayor Erica A. Stewart
ATTEST:
________________________
Teresa Purrington
City Clerk
APPROVED AS TO FORM:
________________________
J. Christine Dietrick
City Attorney
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official seal of the
City of San Luis Obispo, California, on ______________________.
___________________________
Teresa Purrington
City Clerk
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6/27/2022 | 7:47 AM PDT