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Type:
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Other Approval
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Status:
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Passed
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On agenda:
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4/17/2024
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Final action:
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4/17/2024
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Title:
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TBA2024-4-01 - Technical Budget Adjustment- 2023 Capital Budget Carryforward and other 2024 Capital Budget Adjustments
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TO: |
Board of Trustees |
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THROUGH: |
Jay Fox, Executive Director |
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FROM: |
Viola Miller, Chief Financial Officer |
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PRESENTER(S): |
Daniel Hofer, Director Capital Programming and Support |
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Greg Andrews, Senior Financial Analyst |
TITLE:
title
TBA2024-4-01 - Technical Budget Adjustment- 2023 Capital Budget Carryforward and other 2024 Capital Budget Adjustments
end
AGENDA ITEM TYPE:
Discussion
RECOMMENDATION:
Approve Technical Budget Adjustment TBA2024-04-01 to authorize $19.948 million 2023 capital budget carryforward for 2024 projects, and to approve the reallocation of $1.207 million within the 2024 Capital Budget, including $707,000 being moved from contingency.
BACKGROUND:
In accordance with Board of Trustee Policy Number 2.1 Financial Management, and 2.3 Budget, the Board of Trustees may amend or supplement the budget at any time after its adoption. This request is to adjust several projects in UTA’s 2024 Capital Budget with additional funds to complete projects this year. This Technical Budget Adjustment will use the Capital carryforward appropriation authority outlined in Board of Trustee Policy 2.3 Budget, and will reallocate existing 2024 Capital Budget funds for specific projects.
DISCUSSION:
Technical Budget Adjustment
This is a two-part Technical Budget Adjustment.
Part 1 consists of a carryforward of 2023 capital funds to the 2024 budget. This proposed adjustment of $19.948 million will carryforward funds to 50 projects to aid in their delivery.
Part 2 consists of adjustments of 1.207 million within the current 2024 Capital Budget to aid in delivery of specified capital projects.
Carryforward funds are typically requested to aid in the completion of a project that wasn’t completed in the previous fiscal year.
The table below highlights the projects requesting Part I Carryforward funds:
|
Office & Projects |
Amount |
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Capital Services |
16,998,000 |
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900 East UVX Station |
830,000 |
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Bridge Rehabilitation/Maintenance |
44,000 |
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Bus Stop Improvements & Signage in Salt Lake County |
563,000 |
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Capital Planning/Env Analysis |
350,000 |
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Corridor Fencing Replacement |
2,000 |
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Gap filler on FR stations |
681,000 |
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Grade Crossing Program |
1,689,000 |
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IPCS Tech Support |
16,000 |
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Light Rail Seat Replacement |
43,000 |
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Operator Restrooms in Salt Lake County |
61,000 |
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Operator Shack at University Medical EOL |
84,000 |
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Orange Street Microtransit |
14,000 |
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Paratransit Replacements |
6,000,000 |
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Prime Mover Engine Rebuild |
948,000 |
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Program Management Support |
(30,000) |
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Replacement Buses |
5,126,000 |
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Shepard Lane Embankment |
100,000 |
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Signal Pre-emption Projects w/UDOT |
58,000 |
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South Valley Transit (formerly known as Provo to Payson Transit) |
600,000 |
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Suicide Prevention Research Project |
82,000 |
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Tiger Grant Projects |
(1,981,000) |
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TPSS Component Replacement |
(412,000) |
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Trax Operational Simulator |
750,000 |
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Van pool Van replacements |
1,380,000 |
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Enterprise Strategy |
1,020,000 |
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AppDev In-house Application Development & Enhancements |
31,000 |
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Customer Relations Software Replacement |
368,000 |
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E Voucher Software Phase II |
10,000 |
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Information Security Equipment & Software (PCI Compliance and Cyber Security) |
250,000 |
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IT Managed Reserve |
7,000 |
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JDE 9.2. Application Upgrade - UNx |
10,000 |
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JDE Enhancements |
18,000 |
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Radio Communication Infrastructure |
9,000 |
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Server, Storage Infrastructure Equipment and Software |
80,000 |
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SharePoint 2016 Migration to SharePoint Online Support |
62,000 |
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WFRC Grant for Passenger Info improvements |
175,000 |
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Finance |
370,000 |
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FFY 2021 5310 O/L |
100,000 |
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FFY 2021 5310 P/O |
100,000 |
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Warehouse Equipment Managed Reserve |
170,000 |
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Operations |
373,000 |
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Equipment Managed Reserve |
52,000 |
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Facilities Rehab and Replacement |
(292,000) |
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Park & Ride Rehab & Replacement |
50,000 |
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Police Managed Reserve |
80,000 |
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Police Vehicle Replacement/Expansion |
31,000 |
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Repair of Damaged LRV |
329,000 |
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Stations & Platforms Rehab & Replacement |
123,000 |
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People |
500,000 |
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CPO New HRIS system app |
500,000 |
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Planning and Engagement |
688,000 |
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AOPP: Paratransit Fwd Study |
82,000 |
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Route Planning Restoration |
110,000 |
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Tooele County Microtransit & Vehicle Electrification |
386,000 |
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Transit Signal Priority On Board Units (TOBU) Project |
110,000 |
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Grand Total |
19,948,000 |
Part 2 Carryforward consists of $1.207 million in adjustments. These funding adjustments will aid in project delivery of the Clearfield Station Trail, Internal Projects Control System (IPSC) Support, and Operator Restrooms. Funds will be redirected from the Bus Stop Improvements and Signage Project, and from Contingency.
|
Project Number/Project Name |
Current Budget |
Part 2 Requested Amount |
Part 1 Carryforward |
New Total |
Source |
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Clearfield Station Trail |
1,510,000 |
700,000 |
- |
2,210,000 |
Contingency |
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IPCS Support |
|
7,000 |
16,000 |
23,000 |
Contingency |
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Operator Restrooms throughout System |
2,185,000 |
500,000 |
- |
2,685,000 |
MSP229- 500K |
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Bus Stop Improvements and Signage |
1,500,000 |
(500,000) |
563,000 |
1,563,000 |
Goes to Operator Restrooms |
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Contingency |
4,977,000 |
(707,000) |
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4,270,000 |
Goes to Clearfield Station Trail and IPCS Support |
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Total |
- |
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ALTERNATIVES:
Projects not receiving the requested funding would result in work being delayed or cancelled.
FISCAL IMPACT:
These requests can be addressed using funds that went unspent from the previous 2023 Capital Budget. This will add $19.948 M to the 2024 Capital Budget. Other requests are addressed by adjustments within the current 2024 Capital Budget, including the reallocation of $707,000 from contingency, leaving a contingency balance of $4,270,000.
ATTACHMENTS:
Technical Budget Adjustment TBA2024-04-01
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