MEMORANDUM
TO: Gary Superman, Assembly President
Members, Kenai Peninsula Borough Assembly
THRU: Dale Bagley, Mayor
FROM: Gary Davis, Roads Director
Scott Holt, Finance Director
DATE: March 24, 2005
SUBJECT: Resolution 2005-030
Providing FY05 CIP Funds to RSA
The Road Service Area ("RSA") has completed preliminary engineering estimates for its fiscal year 2005 capital improvement projects. This resolution closes out its fiscal year 2004 projects that have been completed under the estimated costs, and transfers those unexpended project funds to the capital project fund balance to be allocated to FY05 projects.
The resolution also transfers funds remaining in project 02434, which was used to match state grant funds, and transfers funds from project 04434, the road improvement contingency account to the RSA fund balance.
The resolution also cancels one fiscal year 2004 CIP project and lapses the funds allocated to the project into the RSA fund balance. This project, Palmer Creek Road/Resurrection Road project in Hope, has encountered some right-of-way problems. We are reviewing these problems and hope to either amend the scope of the project for completion later, or do the project in phases.