Sec. 748.407. - Increases and decreases in anticipated revenues.

At least twice in each fiscal year, the Division shall obtain from the appropriate State agency an official forecast of the surplus gas tax funds that will be or have been made available to the City during the fiscal year. The Division shall then calculate the total funds that will be available for construction by adding to the surplus gas tax funds that have already been received during the fiscal year for construction an amount equal to 90 percent of the 80 percent surplus of the second gas tax estimated to accrue to the City during the remainder of the fiscal year. If this total: (a) Equals or does not exceed by more than ten percent the total actual and estimated expenditures for the fiscal year for all construction projects on the cash flow schedule, no adjustment of the cash flow schedule shall be made. (b) Exceeds by more than ten percent the total actual and estimated expenditures for the fiscal year for all construction projects on the cash flow schedule, additional projects may be added to the cash flow schedule as provided in Section 748.207 (b)(1), until the total actual and estimated expenditures for the fiscal year for all construction projects, including the additional projects, on the cash flow schedule equals the total funds that will be available for construction calculated by the Division. (c) Is less than the total actual and estimated expenditures for the fiscal year for all projects currently displayed on the cash flow schedule, the Division shall remove or delay projects on the cash flow schedule and carry then over to a later time in the current fiscal year or to the next fiscal year until the total actual and estimated expenditures for the fiscal year for the remaining projects are reduced to or below this total. Additions to and removals from the cash flow schedule shall be made by means of amendments thereof. (Ord. 78-329-131, § 1; Ord. 83-591-400, § 1) Note— Former § 620.407.