GET BREAKING NEWS IN YOUR BROWSER. CLICK HERE TO TURN ON NOTIFICATIONS.

X

Caley Fretz of Boulder works on his laptop at Trident Booksellers and Cafe in Boulder in April. Among the $63,82 million in budget adjustments City Council approved Tuesday was $19.87 million in bonds issued earlier this year for the city’s internet fiber backbone project
PUBLISHED: | UPDATED:

Boulder carried over $63.82 million, an unusually high amount, for its second adjustment to its 2019 base budget.

City Council on Tuesday approved appropriating that amount to municipal funds, including $12.86 million to the city affordable housing fund, and $1.42 million to the general fund, along with the biggest allocation of $42.61 million to the government capital fund.

Normally, the second adjustment to a base budget toward the end of a year is less than $10 million, city staff stated in notes to Council. But this year the adjustment includes three anomalies, including a transfer of $22.74 million for capital project budgets from the general fund to the new government capital fund.

The other big difference makers are the accounting for $19.87 million in bonds issued earlier this year for the city’s internet fiber backbone project, and revenue received for major affordable housing projects, such as the 30th Street and Pearl Pollard Motors development, at $12.86 million.

Those three items make up 87% of the adjustment to base Council approved Tuesday, and without them, the remaining $8.35 million adjustment, with $7.70 million coming from remaining fund balances, and $538,233 from additional revenues, would be in line with what is typical, city staff said.

In 2017, the second adjustment to the base budget was $9.59 million, and in 2018 it was $5.99 million, city staff notes show.

blog comments powered by Disqus