FY23 FULL BUDGET REPORT ADOPTED

Section 9: Other Transfers and Adjustments – The following special transfers and/or adjustments are occurring through approval of the Fiscal Year 2023 capital budget. Section 10: Copies of this capital project ordinance shall be furnished to the Town Clerk, Finance Officer, and the Budget Officer for direction in carrying out the project. Section 11: The following amounts are anticipated and appropriated for the capital projects identified below: a. International Drive Extension Capital Project Fund – to establish a capital project for the purposes of constructing an extension of International Drive from the current northern terminus to intersect with Airport Boulevard.

Capital Revenues

Current

Appropriation

Budget

-

Transfer from Transportation Capital Reserve Fund

500,000

500,000

Total

$

-

$500,000

$500,000

Capital Expenditures

Current

Appropriation

Budget

-

Construction

500,000

500,000

Total

$

-

$500,000

$500,000

b. Intersection Improvements Capital Project Fund – to establish a capital project for the purposes of design and construction for the phase I of intersection improvements in accordance with sidewalk gap study to improve pedestrian safety, signalization, and overall traffic congestion. Area of interests for phase 1 include intersections at Church Street at Treybrook and Downing Glen, and Morrisville Parkway at Crabtree Crossing.

Capital Revenues

Current

Appropriation

Budget

-

Bond Proceeds & Premium

41,300

41,300

-

Streets Payment in Lieu

158,700

158,700

Total

$

-

$200,000

$200,000

Capital Expenditures

Current

Appropriation

Budget

Design Phase I

-

200,000

200,000

Total

$

-

$200,000

$200,000

c. Public Safety Improvements Capital Project Fund – to amend the existing capital project for the purposes of funding professional services, land acquisition, design cost, furniture and fixtures, and other related cost associated with the Harris Mill Fire Station #3 and future fire stations; emergency traffic pre-emption technology to address public safety improvements; and the replacement of Public Safety Radio Equipment. (Preceding Ordinances amended: 2019-100B; 2021-453; 2022-173.)

Capital Revenues

Current

Appropriation

Budget

-

Transfer from CIP Reserve Fund

2,800,000

2,800,000

-

Transfer from Transportation Reserve Fund

350,000

350,000

Bond Proceeds & Premium

8,000,000

1,726,000

9,726,000

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