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Agenda Item (VI-B-8-c)

Meeting1/15/2019 - Regular
Agenda ItemConsent Agenda Action (VI-B-8-c)
SubjectProject Savings Reconciliation and Additional Revenue to Adjust Measure C Project Budget
Measure C
Recommended ActionIt is recommended that the Board of Trustees approve the adjusted budgets for the projects identified on the Project Savings Reconciliation report for additional expenditures in the amount of $60,433 and additional revenue received in the amount of $118,311 for the period of July 1, 2017 through June 30, 2018.

Background Narrative:

A Project Savings Reconciliation (PSR) report and additional revenue received is presented for the Board’s review and consideration.

The PSR is intended to reconcile Board of Trustees approved Measure C project budgets with actual completed project expenditures. Projects previously closed out have had additional changes for items such as legal fees and Southern California Edison new building electrical connections totaling $60,433.

Additional revenue totaling $118,311 from July 1, 2017 through June 30, 2018 is included for interest income, $115,495, and guaranteed investment contract settlement, $2,816.
Prepared By: Aaron Brown, Vice Chancellor, Business and Financial Services
 Majd Askar, Director of Business Services
Bart Doering, Facilities Development Director