TO: Mayor and Town Council

FROM: W. Calvin Horton, Town Manager

SUBJECT: Budget Amendment for 15-501 Major Investment Study

DATE: October 11, 2000

The attached budget ordinance would reflect the addition of $50,000 from the University of North Carolina as a contribution to the Town’s share of costs for Phase II of the 15-501 Major Investment Study.

BACKGROUND

On June 26, 2000, the Town Council approved the Supplemental Agreement with the North Carolina Department of Transportation for Chapel Hill’s participation in Phase II of the U.S. 15-501 Major Investment Study. In addition, the Council approved a budget ordinance allocating $16,250 for the Town’s share of this study. The remaining $50,000 of the $66,250 local match will be provided by the University of North Carolina.

DISCUSSION

We understand the North Carolina Department of Transportation wishes to receive one payment from the Town of Chapel Hill for $66,250. The University of North Carolina will provide the $50,000 in funds to the Town, and the Town will then transmit it to the North Carolina Department of Transportation. The attached budget ordinance would reflect the additional $50,000 to be received.

RECOMMENDATION

We recommend that the Council adopt the attached ordinance.

AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2000 (2000-10-11/O-1)

BE IT ORDAINED by the Council of the Town of Chapel Hill that the Budget Ordinance entitled “An Ordinance Concerning Appropriations and the Raising of Revenue for the Fiscal Year Beginning July 1, 2000” as duly adopted on June 26, 2000 be and the same is hereby amended as follows:

ARTICLE I

Current Revised

APPROPRIATIONS Budget Increase Decrease Budget

CAPITAL

IMPROVEMENTS FUND 1,836,990 50,000 1,886,990

ARTICLE II

Current Revised

REVENUES Budget Increase Decrease Budget

CAPITAL

IMPROVEMENTS FUND 1,836,990 50,000 1,886,990

This the 11^th day of October, 2000.