DATE: April 9, 2019
SUBJECT: MULTI-YEAR MAJOR MAINTENANCE PROJECT FUNDING
Title
AMENDMENTS TO BOARD OF PORT COMMISSIONERS POLICIES TO INCORPORATE BOARD FEEDBACK REGARDING MAJOR MAINTENANCE MULTI-YEAR FUNDING RECEIVED AT THE MARCH 12, 2019 BOARD MEETING
A) RESOLUTION APPROVING AN AMENDMENT TO BOARD POLICY NO. 90 - TRANSFER BETWEEN OR WITHIN APPROPRIATED ITEMS
B) RESOLUTION APPROVING AN AMENDMENT TO BOARD POLICY NO. 130 - MAJOR MAINTENANCE PROGRAM
Body
EXECUTIVE SUMMARY:
At the March 12, 2019 Board meeting, Staff presented a multi-year major maintenance project funding concept. The proposed modifications to Board of Port Commissioners (Board) Policies No. 90 and 130 are to incorporate the Board's feedback staff received regarding multi-year funding.
The transfer of funds between or within appropriated items in the budget is authorized in accordance with Board Policy No. 90. Staff recommends the Board consider modifications regarding the authority to approve the transfer of funds between projects. This will improve management of the program allowing staff to respond to challenges at the project level. Construction spending can vary from forecast as progress is made. By allowing staff to manage at the program level, funds may be reallocated between approved projects throughout the year if expenditures vary from forecast.
The District's Major Maintenance Program is implemented in accordance with Board Policy No. 130. Staff recommends the Board consider modifications regarding the project approval process and roll over of unspent annual project budget. These modifications will transform the Major Maintenance program allowing staff to define a long-term maintenance program, more efficiently execute projects, and commit funding to project completion.
Additional reporting will be provided by staff through a dashboard and future Board presentations.
Staff recommends that the Board approve the amendments to Board Policies No. 90 and 130.
RECOMMENDATION:...
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