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Board authorizes $350,000 transfer to cover Sandridge Street Park cost increase
Summary
Officials said the Sandridge Street Park project’s estimate rose to about $550,000 from a $153,711 budget; the board authorized a $350,000 transfer from the investment fund (including a $50,000 cushion) to the Park & Rec capital fund.
The board authorized a $350,000 transfer from the investment fund into the Park and Recreation capital fund to cover a cost increase on the Sandridge Street Park project.
The director of finance told the board that the project estimate from engineers rose to roughly $550,000 whereas the township had $153,711 budgeted this year; she said the township expects about $250,000 in grant reimbursement, leaving a funding gap. “We're asking for the board to authorize 350,000, an additional 50,000 coming from the investment fund to the Park and Rec Capital Fund,” she said, explaining that the extra $50,000 is a cushion in case costs exceed current estimates.
Board members asked for clarification about what work remains; staff said tennis-court repair, pavilion and gazebo work and other park items are part of the project. The board moved, seconded and approved the requested transfer by voice vote. Staff said any unused cushion would remain in the account for future projects.
