Title
Resolution to Amend the Fiscal Year 2025 Council Approved Budget to Appropriate a Total of $2,000,000 from the Capital Budget (Projects) Committed Fund Balance Account to the Capital Budget (Projects) Fund Contingency Account to Complete Certain Ongoing Capital Projects
Purpose
To provide a sufficient contingency within the Capital Budget (Projects) Fund to ensure that certain major capital projects, including, but not limited to the firing range under construction at Fort Monroe, will not experience any delay in completion due to a lack of sufficient appropriated funding.
Discussion
See Purpose.
Rec
Approve.
Body
WHEREAS, certain major capital projects are anticipated to be contracted and/or completed in Fiscal Year 2025;
WHEREAS, one or more of those projects may experience the need for additional funding to cover unanticipated costs; and
WHEREAS, City Council is requested to appropriate a total of $2,000,000 from the Capital Budget (Projects) Committed Fund Balance account to the Capital Budget (Projects) Contingency Fund to ensure that sufficient appropriated funds are available to complete those projects, as may be needed.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Hampton, Virginia that the Fiscal Year 2025 Council Approved Budget is amended to appropriate a total of $2,000,000 from the Capital Budget (Projects) Committed Fund Balance account to the Capital Budget (Projects) Fund Contingency Account to ensure sufficient appropriated funds are available for certain major capital projects anticipated to be completed in Fiscal Year 2025; and
BE IT FURTHER RESOLVED that the City Council authorizes the City Manager, or her designee, to take the necessary steps to implement the purposes of this resolution.