Pierre City Commission Holds First Reading Of Budget Supplement Ordinance For Pool Project

(KCCR) — The Pierre City Commission gave first reading Tuesday night to a budget supplement tied to the Pierre Outdoor Municipal Pool project. City Finance Officer Twila Hight says the ordinance gives the city budget authority for the pool…

“This is a little bit disjointed. We should have brought this back when we, probably when we brought the bond resolution or some of the other things that; one of those things that we hadn’t talked about the rest of it and this just didn’t coincide. As we brought forward the bond resolution if everyone recalls that; is up to 13 million dollars. That’s the full project cost. As we know, a portion of that project is slated to be funded by donations, but obviously those will come in overtime and likely won’t all be on hand at the beginning of the project, so we just have to be in a position where we can proceed with the project when we get to the bid stage and this will allow us to do that; to have a full budget authority in place and then also the bond authority.”
Hight says the budget authority will stay in place over future budgets until the project is complete…

“We’re bringing in the full, 13 million dollars for the whole project and then obviously this will expire on December 31st and as we going to 2020 and the project continues through the design phase and we start getting into bidding; we’ll have additional costs, but this budget authority will get carried forward into the years as it goes in through final completion of the project so, what we’ll end up doing is carrying forward to the remaining portion so, as we have a few the design expenses that we’ve incurred so far 2019; that’ll come off this 13 million, so what will carry forward in 2020 will be just slightly less than the 13 million and it’ll continue like that through the process until it’s completed.”
Hight says pool funds will be separate from other city funds…

“That’s where we’re putting in all the donations, so all the cash will accumulate in that fund so we can keep it segregated; outside of the general fund and outside of all the other City operations. For financial statement purposes it does roll into the general fund, but it is segregated on our system, so we can track the cash and then we report that through the fundraising committee, so you guys have a financial statement of how much cash has been raised and how much is been pledged and will continue that through the process; so this keeps everything segregated, the expenditures and the revenues, so we’ll know exactly what we need when we get time to bond for the project.”
Second reading of the outdoor pool budget supplement ordinance is scheduled for the Pierre City Commission meeting next week.