Issue Sheet ATH2025-129
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City of Smyrna A Max Bacon City Hall 2800 King Street Smyrna, GA 30080 Issue Sheet File Number: ATH2025-129 Agenda Date: 8/4/2025 In Control: City Council File Type: Authorization Agenda Section: Formal Business Department: Finance Agenda Title: Authorization to amend the 2022 SPLOST Fund project length budgets to account for items not included in the original adopted project budgets and to reallocate funding between projects to increase project funding for pending/ approved contracts and reallocate excess budget available from other projects. Citywide ISSUE AND BACKGROUND: The original adopted project length budgets for the 2022 SPLOST need to be amended to account for items not included in the original adopted budgets and funding needs to be reallocated to other project for pending/ approved contracts. Several things have occurred that require the budget to be amended: • The City has received additional funding from the State for resurfacing so the revenue and expense budget need to be amended to account for the additional funding. • The City is getting interest revenue income from the bank and SLGs investment accounts. • The City agreed to allow Cobb to keep the portion of County funding related to EW Connector improvements for a joint project. • Account for the lease we had on the 800 MHz radios • Reallocate parking deck funding to park land acquisition for the purchase of the IGO property. • Account for the sale of the Atlanta Rd property to First Baptist Church. • Add budget for bank fees. • Add a transfer out to the DDA for property transactions. Several projects have been completed or have available funding that can be reallocated, so we are recommending decreasing those project budgets. RECOMMENDATION / REQUESTED ACTION: Authorization to amend the 2022 SPLOST Fund project length budgets to account for items not included in the original adopted project budgets and to reallocate funding between projects to increase project funding for pending/ approved contracts and reallocate excess budget available from other projects.