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Council approves $1.32 million in capital reallocations for water and wastewater projects
Summary
Council approved budget adjustments reallocating $197,051 in Water capital and $1,123,585 in Wastewater capital, and designated $1.1 million to reduce principal on the North Side Sewer Interceptor interdepartmental loan.
Deputy Chief Financial Officer Jacqueline Leyba presented a capital budget adjustment to the City Council on Jan. 6 that reallocates unspent funds from five closed Water projects ($197,051) and one closed Wastewater project ($1,123,585). She said part of the reallocation includes an interdepartmental loan arrangement with the Electric Department and that $1.1 million of the transfer will be applied to reduce principal on the North Side Sewer Interceptor loan.
Councilor Ron Molina moved to approve the budget adjustments; the motion, seconded by Councilor Sarah Piano, passed by roll call with all members voting yes. Council discussion focused on the mechanics of the interdepartmental loan and the intended allocations of remaining Water Department funds.
