Addendum
PREPARED BY: STEPHEN CONWAY
Finance Director
Reviewed by: Town Manager, Town Attorney, and Finance Director
110 E. Main Street Los Gatos, CA 95030 ● 408-354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 11/15/2016
ITEM NO: 5
ADDENDUM
DATE: NOVEMBER 8, 2016
TO: MAYOR AND TOWN COUNCIL
FROM: LAUREL PREVETTI, TOWN MANAGER
SUBJECT: PAGEANT WAY PARKING LOT PROJECT 817-0707
A. AUTHORIZE THE TOWN MANAGER TO AWARD AND EXECUTE A
CONSTRUCTION AGREEMENT WITH BORTOLOTTO & COMPANY IN AN
AMOUNT NOT TO EXCEED $150,150 PLUS A TEN PERCENT
CONTINGENCY FOR A TOTAL CONTRACT AMOUNT NOT TO EXCEED
$165,165.
B. APPROVE A BUDGET ADJUSTMENT AND THE APPROPRIATION OF
$34,414 FROM FISCAL YEAR 15/16 YEAR END SAVINGS TO SUPPORT
FUNDING THE PAGEANT WAY PARKING LOT PROJECT.
REMARKS:
A Council Member requested information regarding the total Fiscal Year 2015/16 available
excess or savings. The Town of Los Gatos is in the process of completing the FY 2015/16 year-
end financial audit. Currently, staff estimates an operating budget savings of approximately
$2.6 million in the General Fund. Actual savings will be available upon the final close of the FY
2015/16 audit, expected to be completed by the end of the calendar year.