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CATEGORY IX – CIP CONTINGENCY:
PROJECT ID #22: Capital Projects Contingency
An annual budget allocation for a contingency account is proposed for each year of the Five-Year CIP. Unless otherwise approved by City Council, use and expenditure of each year’s contingency budget is strictly limited to authorized capital projects listed in the adopted Five-Year CIP. Contingency amounts are transferred to individual capital projects for expenditure as part of a budget amendment process approved by the City Manager. Contingency funds are set aside amounts for unforeseen or unplanned expenditures during the planning, design, permitting, and construction stages of capital projects.
Five-Year Funding Recommendation:
FY07 |
FY08 |
FY09 |
FY10 |
FY11 |
Total |
390,000 |
215,000 |
600,000 |
570,000 |
500,000 |
2,275,000 |
Funding: $2,275,000 GF
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