Stabilization Transfer Letter_IAM FY26 Budget Request_6-20-25 — File 25-1156

CITY OF SOMERVILLE, MASSACHUSETTS KATJANA BALLANTYNE, MAYOR DEPARTMENT of INFRASTRUCTURE & ASSET MANAGEMENT RICHARD E. RAICHE, PE, PMP, MCPPO BRIAN C. POSTLEWAITE, PE DIRECTOR OF INFRASTRUCTURE & ASSET MANAGEMENT DIRECTOR OF ENGINEERING MICHAEL RICHARDS, MCPPO RALPH HENRY DIRECTOR OF FINANCE & ADMINISTRATION, IAM DIRECTOR OF CAPITAL PROJECTS Department of Public Works Building, First Floor • 1 Franey Road • Somerville, Massachusetts 02145 [phone removed], Ext. 5400 Fax: [phone removed] www.somervillema.gov CAPITAL OUTLAY YEAR-END TRANSFERS TO STABILIZATION FUNDS June 20th, 2025 TO: Somerville City Council IAM Capital Projects and Engineering divisions seek to transfer all remaining FY25 Capital Outlay funds into Facilities Stabilization and Streets Stabilization, respectively. Many of IAM’s consulting and construction administration projects follow the construction seasons and do not fit into the typical fiscal year constraints. As those projects span fiscal years, it is common practice to transfer the remaining Capital Outlay funds into stabilization funds to close out the current fiscal year to avoid impacting our ongoing services. To close out FY25, IAM requests a suspension of the rules and immediate consideration for the transfer of currently encumbered and available funds into stabilization funds, and the appropriation to use those funds during the June 26th City Council meeting. IAM requests to carry the following balances into their respective stabilization funds: Capital Projects Capital Outlay – Professional & Technical - $ 109,982.41 Capital Outlay – Engineering/Architecture - $ 606,501.00 Capital Outlay – Building Improvements - $ 410,005.90 Engineering Capital Outlay – Engineering/Architecture - $ 150,955.61 Michael Richards, MCPPO Director of Finance & Administration Department of Infrastructure and Asset Management