Memorandum
Date: June 10, 2021
To: The Honorable Bruno Sabatier, Chair, Lake County Board of Supervisors
From: Scott De Leon, Public Works Director
Subject: Approve Resolution Authorizing Cancellation of Capital Improvement Reserve Designations in the Amount of $11,000 to Pay Off the Loan Acquired for the Lampson Field Runway Pavement Rehabilitation Project
Executive Summary: (include fiscal and staffing impact narrative):
On December 20, 2019, Lampson Field Capital Projects Fund 923 requested a loan from Fund 153, Non-Departmental Revenue for the amount of $910,000 for the Lampson Field Runway Pavement Rehabilitation Project. On October 16, 2020 Fund 923 had enough fund to make a partial payment of $400,000, due to reimbursement from the FAA Grant.
This loan has to be paid back by the end of FY 2020/2021, and Fund 923 currently doesn’t have enough fund to cover the remaining balance of $510,000. It’s short by $11,000.
There is enough reserves in the Fund 923 to cover the shortage of $11,000.This request is to cancel Capital Improvement Reserves in the amount of $11,000 and appropriate the funds in account 923-3122-501-80.93 to pay off the remainder of the loan.
If not budgeted, fill in the blanks below only:
Estimated Cost: ________ Amount Budgeted: ________ Additional Requested: ________ Future Annual Cost: ________
Consistency with Vision 2028 and/or Fiscal Crisis Management Plan (check all that apply): ☐ Not applicable
☐ Well-being of Residents ☐ Public Safety ☒ Infrastructure ☐ Technology Upgrades
☐ Economic Development ☐ Disaster Recovery ☐ County Workforce ☐ Revenue Generation
☐ Community Collaboration ☐ Business Process Efficiency ☐ Clear Lake ☐ Cost Savings
If request for exemption from competitive bid in accordance with County Code Chapter 2 Sec. 2-38, fill in blanks below:
Which exemption is being requested?
How long has Agreement been in place?
When was purchase last rebid?
Reason for request to waive bid?
Recommended Action:
Resolution Authorizing Cancelling Lampson Field Capital Project, Capital Improvement Reserve Designation in the Amount of $11,000 to pay off the loan acquired for the Lampson Field Runway Pavement Rehabilitation Project