RECOMMENDATION(S):
APPROVE Fiscal Year (F/Y) 2015/16 Appropriation and Revenue Adjustment No. 5067 to add the cost and revenue for two Buchanan Field projects to balance the budget as follows: (1) total cost of $132,417 for the Buchanan Field Taxiway Echo & Kilo Improvement Project with revenue sources of a Federal Aviation Administration (FAA) Grant, matching Caltrans Grant and Airport’s Capital Maintenance Reserve Fund; and (2) Buchanan Field East Ramp Pavement/Reconstruction Project increasing appropriation by $650,000 to reflect total project costs and adding $650,000 in revenue from the Airport’s Capital Maintenance Reserve Fund.
FISCAL IMPACT:
Total project costs for the Buchanan Field Taxiway Echo & Kilo Improvements are $132,417 of which 90% ($119,175) is funded by FAA Grant, 4.5% ($5,959) Caltrans grant and 5.5% ($7,283) Airport’s Capital Maintenance Reserve Fund. Total remaining project costs for the Buchanan Field East Ramp Pavement Reconstruction Project ($650,000) are funded 100% by the Airport’s Capital Maintenance Reserve Fund.
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