Subject
title
Adoption of a Resolution to Close Completed Capital Improvements Program Projects
end
Department
Finance
Recommendation
Staff recommends that the Mayor and Council adopt the resolution to close completed Capital Improvements Program (CIP) project accounts.
Discussion
In accordance with the city’s adopted Financial Management Policies, each year the Mayor and Council must formally authorize staff to close completed CIP projects. This authorization is given through adoption of a resolution (Attachment 1).
Attachment 2 provides a brief summary of the four projects to be closed at the end of Fiscal Year (FY) 2025, including the project name, number, program area, brief description, original and current project budget, and unspent funds as of April 15, 2025. These projects are funded by the Capital Projects and Water funds. Of these four projects, two had unobligated appropriations greater than $10,000 as of April 15, 2025; however, staff does not anticipate significant savings at the close of the Water Treatment Plant Electrical, Roof, and HVAC Upgrades (UA17) project. At the end of FY 2025, any unspent appropriations from the closed projects will be returned to the fund from which the appropriations were made, unless the project was funded from an outside source. Please note, the amount of the unobligated funds currently shown for all projects may be reduced due to final payments in FY 2025.
Mayor and Council History
The Mayor and Council adopt a resolution to close completed CIP projects once per fiscal year.
Fiscal Impact
As of June 30, 2025, any unspent appropriations from the closed projects will be returned to the fund from which the appropriations were made, unless the project was funded from an outside source.
Next Steps
Finance staff will close the CIP project accounts as of June 30, 2025.