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RESOLUTION NO. R-70-23 <br /> RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLTON TO <br /> AMEND THE FISCAL YEAR 2023/2024 CAPITAL IMPROVEMENT BUDGET <br /> 3 WHEREAS the City of Colton is a municipal corporation duly organized and existing <br /> a pursuant to the Constitution and laws of the State of California ("City"); and <br /> WHEREAS, the budget for Fiscal Year 2022-2023 has been approved by City Council, <br /> 5 and must now be amended to increase the appropriation in the Public Works-Engineering <br /> Division for Measure I funded projects; and, <br /> 6 <br /> WHEREAS, the Measure I revenue projection for Local Streets for the City of Colton for <br /> 7 FY 2023/2024 increased by $14,358; and, <br /> 8 WHEREAS, the increased funding will be utilized to supplement various Measure I funded <br /> projects listed for FY 2023/2024 by increasing the funding for each project to compensate for <br /> 9 the construction price increase due to inflation; and, <br /> 10 WHEREAS, a budget appropriation and adjustment not listed in the Fiscal Year <br /> 2023/2024 budget is required and must be approved by resolution of the City Council. <br /> 11 <br /> NOW, THEREFORE BE IT RESOLVED, DETERMINED, AND ORDERED BY THE CITY <br /> 12 COUNCIL OF THE CITY OF COLTON, AS FOLLOWS: <br /> 13 Section 1 The Recitals preceding in this Resolution are true and correct and are <br /> incorporated into this Resolution by reference. <br /> 14 Section 2 The City Council authorizes the following amendment for the Fiscal Year <br /> 15 2023/2024 budget: <br /> 16 • Increase revenues by $14,358 in account number 218-5711-000; <br /> 17 • Increase appropriations in account number 218-2421-6150-3890-0000-000 (FY23/24 <br /> Citywide Sidewalk/ADA Improvement by $14,358; <br /> 18 <br /> 19 PASSED, APPROVED AND ADOPTED THIS 1st DAY OF AUGUST 2023. <br /> 20 <br /> 21 <br /> 22 RA J. R <br /> Mayor <br /> 23 <br /> 24 ATTEST: <br /> 25 <br /> 26 ^'�'• <br /> TEPHANIE M. VARG <br /> 27 Deputy City Clerk <br /> 28 <br />