Title
Establish Additional Budget Authority in CIP Project Number B-462A.
Body
Recommended Action: Increase Budget Authority in CIP Project Number B-462A.
The project agreement with the Kansas Department of Transportation (KDOT) requires that Sedgwick County enter into the construction contract with the approved vendor for 100% of the cost of the contract and then request reimbursements from KDOT for 80% of the eligible project costs as they occur. Current budget authority covers the 20% local match, additional budget authority is needed to cover the remainder of the construction contract. Budget authority that meets or exceeds the total cost of the construction contract must be established before the contract can be executed. Public Works request includes additional budget authority above the contract amount for the variable cost of set price items and potential change orders.
Alternatives: N/A
Financial Considerations: Based on the project bids, Budget Authority needs to increase by $2,533,373.61 for a total of $3,267,803.61 in B-462A. This includes a 6% allowance for contract modifications as permitted by Charter 68. Once approved a budget supplement for this amount will be done in the project fund center.
Legal Considerations: K.S.A. 28-170a.
Policy Considerations: N/A