Item 06 Approval to Transfer Funds from Lakefront Park Improvements Phase 1 to Lakeshore Center Expansion in the amount of $131,180.18 in order to Advance Construction Needed for Founders’ Day Operation Ocoee
florida
AGENDA ITEM COVER SHEET
Meeting Date: October 16, 2018
Item # �p
Reviewed By:
Contact Name: Al Butler, Director Department Director: Apr,/
Contact Number: 407-554-7063 City Manager:
Subject: Approval for transfer of funds from Lakefront Park Impro ements Phase 1 to
Lakeshore Center Expansion in the amount of $131,180.18 in order to advance constructiop
needed for Founders' Day operation.
Background Summary:
Construction of electrical distribution to serve the stage and event sponsor tents is part of the scope of
work for Phase 1 of the Lakefront Park Improvements project; however, the City Commission recently
accepted staffs recommendation to reject the single bid received for this phase of the project. Although
the Phase 1 work is being rebid, it cannot be completed in time for Founders' Day 2018. Accordingly,
staff has used the available contingency budget in the Lakeshore Center project to add minimally to the
scope of that adjacent project so that those elements needed for next month's event are put in place
during October. Those contingency funds need to be replenished by transferring funds from the
Lakefront Park Improvements Phase 1 project budget to the Lakeshore Center Expansion project
budget. The amount of funding to be transferred exceeds the City Manager's authority.
Issue:
Should the City Commission approve the proposed budget transfer?
Recommendation:
Staff recommends that the City Commission authorize staff to transfer up to $131,180.18 from the
Lakefront Park Improvement project budget to the Lakeshore Center Expansion project budget in
recognition of the work being done by the latter project to advance the scope of work for the forr ter
project.
Attachment:
• None
Financial Impact:
Approval of the proposed budget transfer does not impact the cost of either project and restores the full
amount of funding allocated by the City Commission for the Lakeshore Center Expansion project. The
actual amount of the budget to transfer will be determined by the final cost of the work, but will not
exceed the amount shown here.
Type of Item: (please mark with an"x,
Public Hearing For Clerk's Dept Use:
Ordinance First Reading x Consent Agenda
Ordinance Second Reading Public Hearing
Resolution Regular Agenda
x Commission Approval
Discussion&Direction
Original Document/Contract Attached for Execution by City Clerk
Original Document/Contract Held by Department for Execution
Reviewed by City Attorney N/A
Reviewed by Finance Dept. QA) X N/A
Reviewed by ( ) N/A