2018-07-23-minutes-public-works-study-session

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KITTITAS COUNTY DEPARTMENT OF PUBLIC WORKS PUBLIC WORKS — BOARD OF COUNTY COMMISSIONERS STUDY SESSION STAFF REPORT STUDY SESSION DATE: July 23, 2018 TOPIC: Public Facilities Available Grant Funding for 2019 ACTION REQUESTED: Direct Staff Prepare Notice of Available Grant Funding to Council of Governments LEAD STAFF: Mark R. Cook RECOMMENDATION: Direct that staff prepares notice of 2019 Public Facilities Fund grant funding availability to Council of Governments (COG). BRIEFING SUMMARY: • Public Works has forecast the likely available funding for the Public Facilities Fund for 2019 • Estimated total available funding less obligations appears to be approximately $1.1 million BACKGROUND: Annually, Public Works (PW) administers the Public Facilities Fund. As part of fund administration, PW manages the annual Public Facilities Grant process. Prior to finalizing a preferred grant project list for Board of County Commission (BOCC) consideration, PW notices the COG of estimated annual funding supporting pubic facility grant applications. DISCUSSION: The current fund balance is $2,634,473. The encumbered balance (prior project committed funding) is $1,639,547. The fund has accumulated $994,926 through June 30`x', 2018. A forecast balance of $1,504,926 is forecast for December 31, 2018. The COG has set a fund reserve of $250,000 annually. The BOCC is committed to paying Shady Brook bond interest annually at $122,000. FISCAL IMPACTS: After all encumbered balance and funding obligations, PW estimates that $1,132,926 is likely to be available for 2019 grant award. PW is recommending that the BOCC notice COG of $1.1 million in grant award funding — allowing a small cushion for errors in estimating fund accumulation. ATTACHMENTS: None. Page i of 1 PUBLIC WORKS BOARD OF COUNTY COMMISSIONERS WORK SESSION STAFF REPORT