Title
Adopt a Resolution to:
a. Authorize the Auditor-Controller to amend the FY 2017-18 Pajaro County Sanitation District (PCSD) Adopted Budget, Fund 151, Appropriation Unit RMA040, to increase appropriations and operating transfers in by $1,515,000, financed by an operating transfer out of $1,515,000 from Other Financing Uses General Fund 001, Appropriation Unit CAO017, for immediate and critical repairs in response to winter storm damages (4/5th vote required); and
b. Authorize the Auditor-Controller to transfer $1,515,000 from the FY 2017-18 Other Financing Uses General Fund 001, Appropriation Unit CAO017, as a loan, to be repaid with interest at the County Treasury Investment Pool interest rate, to PCSD Fund 151, Appropriation Unit RMA040, where the General Fund has sufficient storm damage repair appropriations available in the adopted budget to fund the transfer (4/5th vote required).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a Resolution to:
a. Authorize the Auditor-Controller to amend the FY 2017-18 Pajaro County Sanitation District (PCSD) Adopted Budget, Fund 151, Appropriation Unit RMA040, to increase appropriations and operating transfers in by $1,515,000, financed by an operating transfer out of $1,515,000 from Other Financing Uses General Fund 001, Appropriation Unit CAO017, for immediate and critical repairs in response to winter storm damages (4/5th vote required); and
b. Authorize the Auditor-Controller to transfer $1,515,000 from the FY 2017-18 Other Financing Uses General Fund 001, Appropriation Unit CAO017, as a loan, to be repaid with interest at the County Treasury Investment Pool interest rate, to PCSD Fund 151, Appropriation Unit RMA040, where the General Fund has sufficient storm damage repair appropriations available in the adopted budget to fund the transfer (4/5th vote required).
SUMMARY
As a result of the February storms, staff originally estimated the total cost to repair and remediate damages ...
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