Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Supplemental RCA
Type of Request: Commercial Paper
Project ID (if applicable): TBD
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request by the Office of Management and Budget for approval of commercial paper funding for the Office of the County Engineer for the Public Safety Bond Project Administration project in the amount of $200,000.
end
Background and Discussion:
Commercial Paper Series D-2 can be used for (1) construction of public works, (2) the purchase of automobiles, equipment and machinery, including computers, materials and supplies for the operation of the County’s precincts and departments (3) Professional services, including services provided by engineers, architects, attorneys, auditors, financial advisors, and fiscal agents, in connection with the contractual obligations described in (1) and (2).
Commercial Paper is being requested for the Public Safety Bond Project Administration project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources. This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount.
HB 1869 compliance confirmed by: Paige Abernathy, Assistant County Attorney, October 17, 2023.
Expected Impact:
This approval will allow these projects to go forward using Public Safety Bond funding upon receiving AG legal approval. It would also provide a way for these urgent projects to move forward while we are waiting for the approval. It would retain a reasonable contingency amount for completing these projects in the case of cost escalation or unforeseen conditions.
Alternative Options:
Projects not approved by Commissioners Court to use Public Safety Bond may be eligible to use non-voted debt, pending legal and fiscal review, and ultimately Commissioners Court approval. Projects can be put on hold until AG legal approval instead of using non-voted debt, but this would delay project completion for an uncertain amount of time. Commissioners Court could decide to retain a different amount of contingency. Keeping less contingency would put the projects listed at greater risk of having to use non-voted debt for completion. Keeping more contingency would mean at least one listed project being delayed until the program is nearer to completion.
Alignment with Goal(s):
X Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service
Prior Court Action (if any):
|
Date |
Agenda Item # |
Action Taken |
|
5/7/2024 |
28 |
Request for discussion and possible action related to 2022 Public Safety Bond projects. |
Location:
Address (if applicable): Multiple
Precinct(s): Countywide
|
Fiscal and Personnel Summary |
|
Service Name |
|
|
|
|
Current Fiscal Year Cost |
Annual Fiscal Cost |
|
|
Labor |
Non-Labor |
Total |
Recurring Expenses |
|
Funding Sources |
|
|
Existing Budget |
|
|
|
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Commercial Paper |
$ |
$200,000 |
$200,000 |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$200,000 |
$200,000 |
$ |
|
Total Funding Request |
$ |
$200,000 |
$200,000 |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
|
Current Position Count for Service |
- |
- |
- |
- |
|
Additional Positions Request |
- |
- |
- |
- |
|
Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 25, 2024
Anticipated Implementation Date (if different from Court date):
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Deputy Executive Director, Office of Management and Budget
Attachments (if applicable): N/A