TO: Mayor and Town Council
FROM: W. Calvin Horton, Town Manager
SUBJECT: Budget Amendment for 2002-03 for Traffic Signal Timing Studies and Traffic Impact Studies
DATE: September 9, 2002
The attached budget ordinance would increase the Engineering Department budget for FY 2002-03 by $80,400.
Traffic Signal Timing Studies:
The attached budget ordinance would transfer $20,400 for conducting traffic signal timing and count studies from the reserved portion of fund balance in the General Fund to the Engineering Department budget. These funds were collected from various developers in prior years and reserved to conduct signal timing studies as presented below:
Collected From Amount Signal Timing Corridor
LOWES $7,000 US 15/501 Erwin Rd to I-40
Airport Rd. Office $5,000 Airport Rd/Columbia Street
Chapel Ridge Apartments $5,000 Airport Rd/Columbia Street
Sage Rd. Office Bldg. $3,400 US 15/501 from Sage Rd to Estes Drive
The Town Consultant Engineer is expecting to complete the above studies within the next 30 days.
Traffic Impact Studies:
In addition to the above, the attached ordinance would add $60,000 to the Engineering Department budget to reflect estimated expenses expected to be incurred in 2002-03 for traffic impact studies for various developments under the program established by the Council last year. These expenses would be offset by projected payments of $60,000 from developers for traffic impact studies that are required by the Town’s traffic impact analysis policy.
RECOMMENDATION
That the Council adopt the attached budget amendment for 2002-2003.
AN ORDINANCE TO AMEND “THE ORDINANCE CONCERNING APPROPRIATIONS AND THE RAISING OF REVENUE FOR THE FISCAL YEAR BEGINNING JULY 1, 2002 (2002-09-09/O-2)
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, 2002” as duly adopted on June 26, 2002, be and the same is hereby amended as follows:
ARTICLE I
Current Revised
APPROPRIATIONS Budget Increase Decrease Budget
GENERAL FUND
Engineering 990,561 80,400 1,070,549
ARTICLE II
REVENUES
GENERAL FUND
Fund Balance 1,696,121 20,400 1,716,521
Licenses and Permits 1,569,000 60,000 1,629,000
This the 9th day of September, 2002.