Title
Resolution - Approval to amend 2023 Capital Improvement Plan (CIP) for individually approved Capital Projects - J Smith/K Jones
Other Info
Submitted By: Janelle Smith
Department: Financial Services
Financial Impact and Cost/Benefit Considerations: $6.7M in additional capital expenditures.
Discussion
The Budget Policy requires amendments for certain levels of variances. Capital spend in category 500 (Substation Change) requires a budget amendment of $5.4M due to additional costs related to (3) individually approved capital projects. Capital spend in category 800 (Transmission Lines - New) requires a budget amendment of $1.3M due to additional costs related to (1) individually approved capital project.
Project 501-001-0001: Seward Junction Install 46.7MVA Transformer ($2.0M)
Project 501-001-002: Lehigh Install 46.7MVA Transformer ($1.4M)
Project 504-001-0001: SCADA RTUs ($2.0M)
Project 801-001-0001: EMS Hardware & Software ($1.3M)
Body
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE COOPERATIVE that the Cooperative adopt the Amended 2023 Capital Improvement Plan (CIP) Budgets as presented this day; and
NOW THEREFORE BE IT RESOLVED that the Chief Executive Officer, or designee, is authorized to take such actions as needed to implement this resolution.