FY 17 Annual Report

Capital Improvements Fund

2017

CITY OF SPENCER, IOWA

2009 WEST BELTWAY PROJECT

PROJECT #204

PROJECT INFORMATION

The 2009 West Beltway was a joint project between the City of Spencer and Clay County. The project consisted of the construction of a new river crossing over the Ocheyedan River and construction of a new paved road from 360th north to W 4th Street. The project also widened 32nd Avenue West in front of Eatons and reseurfaced the remaining stretch of road north to Highway 18. The project was combined with the West 18th Street and West 4th Street projects for the bidding phase and to allow a single contractor to perform and coordinate all of the work. The project was funded primarily with a federal earmark of approximately $5 million and the remaining portions were split evenly between the City and County. The County acted as the lead engineer on the project and coordinated the entire project with the City paying its portion of the project to the County. The City sold a $750,000 bond in 2010 to finance its portion of the project at the same time it refunded the Fire Station Improvement bonds. The last payment on the bond will occur in FY19. Although the final project costs are not paid, the City has surpassed its $750,000 bond amount and has supplemented the projects cost out of reserve funds.

FY 2017 ACTUAL

PRIOR YEARS

PROJECT

PRIOR YEARS

TOTAL

REVENUES

BOND PROCEEDS MISCELLANEOUS PROJECT TRANSFER

754,380.00 81,948.83 6,526.96 92,220.80

754,380.00 81,948.83

6,526.96

TRANSFERS IN

48,615.15

140,835.95

TOTAL REVENUES

48,615.15

935,076.59

983,691.74

-

EXPENDITURES CONSTRUCTION ENGINEERING MISCELLANEOUS ROW ACQUISITION TRANSFERS OUT UTILITY EXPENSE

-

617,047.08 36,171.81 19,529.25 134,672.60

617,047.08 36,171.81 32,027.55 170,794.45

12,493.30 36,121.85

-

127,650.85

127,650.85

48,615.15

935,071.59

983,691.74

-

TOTAL EXPENDITURES

CAPITAL IMPROVEMENTS