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3.8. SR 09-08-2003MEMORANDUM *Item 3.8.* TO: FROM: DATE: SUBJECT: Mayor and City Council Phil Hals, Street/Park Superintendent September 4, 2003 Update on General Fund Streets Contractual As part of the 2003 budget, staff recommended reducing the Street Contractual line item by $10,000 to $85,000. Noxv as we are completing the summer's street projects, it is becoming evident that part or all of the $10,000 will be needed. To date we have about $35,000 under contract for seal coating and another $6,000 for traffic signal repair. Estimates for overlay patches are about $40,000 and centerlme striping at approximately $10,000 for a current estimate of $91,000. Recommendation: Staff recommends the transfer of monies from the Council Contingency at the end of the year or from Street Reserves to cover the anticipated shortage.