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CITY OF COLTON <br />AGENDA REPORT <br />For Council Meeting of May 30 1994 <br />TO: Honorable Mayor and City Council <br />FROM: Robert A. Lavin, Water Utilities Manager <br />SUBJECT: Date: <br />Approval of Budget Adjustment to Repay <br />Sewer Loan <br />BACKGROUND: <br />During the FY93-94 Budget process, funds were requested to repay the RIX <br />Demonstration Project loan. However, the funds were inadvertently omitted from <br />the final budget presented to Council. <br />DISCUSSION: <br />The RIX Demonstration Project loan in the amount of $95,000 is due on April 30, <br />1994. In order to repay the loans, a budget adjustment is required to transfer funds <br />from the Tertiary Wastewater Treatment Account #22-9405-89 to the Principal <br />Account #22-4040-50. <br />FINANCIAL IMPACT: <br />Sufficient funds exist in the Tertiary Wastewater Treatment Account due to the <br />delay in the construction for the RIX Full -Scale Project. <br />RECOMMENDATION: <br />Staff recommends that Council approve the attached budget adjust in the amount <br />of $95,000. <br />LJ/Ij <br />Attachments: <br />Page 1 of_—_ — Item No. <br />