Title
Consideration of and action on an ordinance to amend the Fiscal Year 2024-2025 Grant Fund Budget for the Advanced Metering Infrastructure (AMI) Project.
Body
Summary:
On August 15th, 2023, City Council awarded Performance Services, Inc. (PSI) the contract to install Advanced Metering Infrastructure throughout the City. This project was funded with the American Rescue Plan Act (ARPA) proceeds awarded to the City through the U.S. Department of Treasury. The City received $8,310,779.19 in total ARPA proceeds. In 2024-2025, PSI completed the project with $1,315,962.00 being expensed in the Fiscal Year.
To fully fund the AMI project expenditures for Fiscal Year 2024-2025, a budget amendment in the amount of $1,315,962.00 is necessary.
Fiscal/Budgetary Impact:
Add $1,315,962.00 to the Fiscal Year 2024-2025 Grant Fund Budget for the Water and Sewer Maintenance Department (Account No. 105-501-49030, Improvements) to be funded from the ARPA proceeds, recorded as intergovernmental revenue (Account No. 105-000-36990) in the Grant Fund, which is available for this purpose.
Recommended action
Approve the ordinance to amend the FY 2024-2025 Grant Fund Budget for the Advanced Metering Infrastructure (AMI) Project.