HomeMy WebLinkAbout2026 Budget Adjustment Teton River Park Phase IBUDGET ADJUSTMENT REQUEST FORM
Dept:Fiscal Year Affected:2026 Total
Project
Expense Accounts to Receive Increased Budget:Budget
Account:38438-5703 Amount:498,000
TETON RIVER PARK DEVELOPMENT-
CONTRACTOR LOW BID 2,088,000$
Account:38438-5703 Amount:112,000 TETON RIVER PARK DEVELOPMENT-TREES 112,000
Account:Amount:
TOTAL:610,000 2,200,000$
Accounts Where Budget is Coming From:
Account:38438-3999 Amount:254,000
FUND BALANCE CARRYOVER-FROM
ADDITIONAL REVENUES RECEIVED IN FY
2025 863,700$
Account:38438-3762 Amount:100,000 URA CONTRIBUTIONS 1,000,000$
Account:38438-3519 Amount:144,000
IMPACT FEES-PARKS-ADDITIONAL FEES
PROEJCTED IN FY 2026 224,300$
Account:38438-3320 Amount:112,000 FEDERAL GRANT-FOREST SERVICE TREES 112,000$
TOTAL:610,000 2,200,000$
Net Expense less Revenue - (This must be zero)-$
Coming From:Contingency:-
Other Expense:
New Revenue:610,000
TOTAL INCREASE 610,000
Reason for the Increase:
Signed:
Dept Head:Date:
CFO:Date:
Mayor:Date:
Approved by the City Council (*if necessary) on this Date:
*City Council approval required if:
1)$10,000 or more is taken from Contingency
2)$50,000 or more is a change in a Capital Purchase
3)New Full-time Regular personnel positions
4)Additional Full-time Regular personnel
5)New Types of Major Programs
and pay installation of all the trees in the park for $112,000.
Parks
Original budget FY 2026 for Teton River Park Phase I was $1,590,000. The project was rebid for a second
time with a reduced scope of work, including buying and installing trees to be purchased with a grant. The City
received an additional $254,000 in carryover from Fiscal Year 2025 due mostly to increased revenues received
over budget. The city is projecting increased revenues in FY 2026 over budget by $144,000. Urban Renewal has
enough additional impact fees in FY 2026 they may have to carry a negative fund balance into FY 2027,
but the project may not be completed until then anyways. A federal reinstated forestry grant is going to purchase
a budget of $900,000. Would ask URA for $100,000 more to make project happen. If the City does not bring in