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Home My WebLink About1994-04-26 - AGENDA REPORTS - EARTHQUAKE REPAIRS BUDGET (2)AGENDA REPORT CONSENT CALENDAR DATE: SUBJECT: DEPARTMENT: BACKGROUND April 26, 1994 Earthquake Repairs Budget Finance City Manager Approv: Item to be presented Steve Stark At the April 19, 1994, joint Community Recovery Agency Executive Board and City Council meeting, an item was presented which described in concept the Earthquake Recovery Plan for the City. One component of the plan discussed Earthquake Repairs to City property and facilities which totaled an estimated $26,291,500. In order to properly record and expend these funds, the City Council must adopt a budget appropriation of estimated revenues and expenditures for the Earthquake Repairs. This item is to request that the City Council approve estimated revenues and appropriate expenditures relating to this portion of the plan. The following summarizes the plan for emergency repair work which is to be funded based on eligibility information available at this time with FEMA, insurance or FHWA monies. It is recommended that the City Council approve total estimated revenues of $26,291,500 as follows: FEMA Grant - $15,533,000; FHWA Grant - $7,454,600; and Insurance Settlement - $3,303,900. 2. It is recommended that the City Council appropriate a total of $26,291,500 in earthquake -related expenditures for FY 1993-94, to be reflected in Fund 90 - Earthquake Fund. SS:eyerquelt.NeAdd APPROVED Agena', Item: FY 93-94 TOTAL BUDGET Debris Removal $ 4,804,800 Emergency Operating Center 3,000,000 Emergency Protective Measures 2,094,500 Transit/Transportation 6,210,100 Road System Repairs 2,845,800 City Hall and Corporate Yard 4,224,500 Park Buildings 191,000 Public Utilities 4,000 Other Disaster Expense 1,792,300 On System Bridges/Roads 1,124,500 $26,291,500 It is recommended that the City Council approve total estimated revenues of $26,291,500 as follows: FEMA Grant - $15,533,000; FHWA Grant - $7,454,600; and Insurance Settlement - $3,303,900. 2. It is recommended that the City Council appropriate a total of $26,291,500 in earthquake -related expenditures for FY 1993-94, to be reflected in Fund 90 - Earthquake Fund. SS:eyerquelt.NeAdd APPROVED Agena', Item: