M&C Review

COUNCIL ACTION:  Approved on 11/14/2017 
DATE: 11/14/2017 REFERENCE NO.: **G-19158 LOG NAME: 03TAD PAY 18
CODE: G TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:   Authorize Payment of the City of Fort Worth's Assessed Pro-Rata Allocation of the Tarrant Appraisal District's Budget for January Through December 2018 in an Amount Up to $2,534,138.06 (ALL COUNCIL DISTRICTS)
RECOMMENDATION:

It is recommended that the City Council authorize a payment of the City of Fort Worth's pro-rata allocation of the Tarrant Appraisal District's 2018 budget for the months of January through December 2018 in an amount up to $2,534,138.06.
 
DISCUSSION:

All local jurisdictions are required by Section 6.06(d) of the Texas Property Tax Code to fund the local county appraisal district.  The City of Fort Worth's pro-rata share for Tarrant Appraisal District's (TAD) 2018 calendar budget is 10.7 percent based upon the City's portion of property value within the District.  The total annual 2018 budget for TAD is $23,687,614.00, bringing the City's portion of expenses to $2,534,138.06.

TAD operates on a January through December fiscal year.  The City will make quarterly payments in the amount of $633,534.51.  This Mayor and Council Communication covers the calendar months of January 1, 2018 through December 31, 2018 with nine months falling in the City's current Fiscal Year 2018 and the remaining three months in the City's Fiscal Year 2019.

This contract will be with a governmental entity, state agency or public institution of higher education: Tarrant Appraisal District.
 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that upon approval of this recommendation, funds are available within existing appropriations in the current operating budget of the General Fund and anticipates, upon adoption of the Fiscal Year 2019 Budget by the City Council, to include the recommended payments mandated by state statutes, the funds will be available in the Fiscal Year 2019 Budget, as appropriated, of the General Fund.












TO
    Fund Department
ID		 Account Project
ID		 Program Activity Budget
Year		 Reference #
(Chartfield 2)		 Amount

FROM
    Fund Department
ID		 Account Project
ID		 Program Activity Budget
Year		 Reference #
(Chartfield 2)		 Amount
Submitted for City Manager's Office by:
Susan Alanis (8180)
Originating Department Head:
Lynda Johnson (6222)
Additional Information Contact:
Terry Hanson (7934)
 
 
ATTACHMENTS