DATE: November 14, 2023
SUBJECT:
Title
RESOLUTION APPROVING REALLOCATION OF UNSPENT FUNDS IN THE ECONOMIC RECOVERY PROGRAM (ERP) BUDGET IN THE AMOUNT OF $200,000 TO ERP018 MOLASSES TANK REMOVAL, AND $345,000 TO ERP030 CUSTOMER PAYMENT PORTAL - S4/HANA UPGRADE
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EXECUTIVE SUMMARY:
District staff have completed two Economic Recovery Program (ERP) projects under budget, resulting in a total of $410,329 in unspent funds. A third ERP project is projected to be completed under budget. Two ERP projects, ERP018 Molasses Tank Removal and ERP 030 Customer Payment Portal - S4HANA Upgrade require additional funds. This agenda item approves the transfer of District-budgeted funds within the ERP program to meet the funding needs of projects ERP018 and ERP030.
This agenda item approves the transfer of $200,000 from ERP004 Tenth Avenue Marine Terminal Electrical Improvements and Substation to ERP018 Molasses Tank Removal, and $345,000 in unallocated ERP funds to ERP030 Customer Payment Portal - S4HANA Upgrade. Since this is the reallocation of currently budgeted District funds, there is no fiscal impact.
RECOMMENDATION:
Recommendation
Adopt a resolution approving the reallocation of unspent funds in the Economic Recovery Program (ERP) budget in the amount of $200,000 to ERP018 Molasses Tank Removal, and $345,000 to ERP030 Customer Payment Portal - S4HANA Upgrade.
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FISCAL IMPACT:
There is no fiscal impact caused by approval of this action. This agenda item would approve the reallocation of funds between projects within an existing District budgeted program.
COMPASS STRATEGIC GOALS:
This agenda item supports the following Strategic Goal(s).
* A Port that the public understands and trusts.
* A Port with an innovative and motivated workforce.
* A financially sustainable Port that drives job creation and regional economic vitality.
DISCUSSION:
The Economic Recovery Program, funded by $110,000,000 in American Rescue Plan Act (ARPA or stimulus) funds, wa...
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