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Transfer of Funds - Admin - Accountant Jensen
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Requested Action(s)
recommendation
Authorize Chairman to sign the Transfer of Funds Request of $200,000 from Fund 527-3034-57608 (Spec. Dept. Equipment) to Fund 527-3034-57500 (Improvement & Structures) to cover construction expenses.
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Financial Impact:
No Financial Impact
Background Information:
Staff are requesting approval for a fund transfer from the Special Department Equipment which was intended to support the purchase of the first Zero Emission Vehicle (ZEV) for the TRAX fleet. This transfer will address unforeseen construction cost overruns which have been addressed via Change Order by the Tehama County Board of Supervisors.
This reallocation is justified by the critical nature of closing out construction and completing the transit facility project. The surplus in the Zero Emission Vehicle expense budget has been contributed to supply chain difficulties and delays in converting the fleet.
At this time the staff is unable to move forward with purchasing a ZEV and is concurrently assessing alternative fuel sources. Purchasing an electric transit vehicle is not prudent at this time and the surplus identified within the vehicle expense budget presents an opportunity to reallocate funds in a manner that maximizes their impact on an existing project and completing the transit facility improvements.