Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): ELECTION_SYSTEM
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 for approval to decrease the commercial paper funding for the County Clerk for the Election Management System project in the amount of $1,145,000 for a net CP funding of $0.
end
Background and Discussion:
Commercial Paper A-1 is used to (1) pay contractual obligations incurred or to be incurred for the construction of and the purchase of fixtures, equipment and machinery for or in connection with the County's criminal and civil justice centers, the County's firefighter training facility, (2) pay contractual obligations incurred or to be incurred for the purchase of automobiles and other vehicles, equipment and machinery, including computers, materials and supplies for the operations of the County precincts and departments and other authorized needs and purposes including services provided by engineers, architects, attorneys, auditors, financial advisors.
In the interest of managing the County's debt and making limited funds available for the most urgent projects, the Office of Management and Budget (OMB) has requested the County Clerk to reexamine Commercial Paper (CP) A-1 budgets for projects that have large unencumbered budget balances. The County Clerk has indicated that this project will not need the entirety of its allocated CP funding in the immediate future, and OMB is requesting this decrease to free up funding for other projects that may need funding sooner. This change does not impact project authorization, and additional CP will be requested again for this proj...
Click here for full text