M&C Review


COUNCIL ACTION:  Approved on 4/17/2018 - Ordinance Nos. 23189-04-2018, 23190-04-2018, 23191-04-2018 & 23192-04-2018

DATE: 4/17/2018 REFERENCE NO.: G-19268 LOG NAME: 03FY2018 MID-YEAR ADJUSTMENTS
CODE: G TYPE: NON-CONSENT PUBLIC HEARING: NO
SUBJECT:  

Adopt Ordinance Adjusting Appropriations in Various Funds and Amounts to Bring Revenues and Expenditures Into Balance for Fiscal Year 2018 (ALL COUNCIL DISTRICTS)


RECOMMENDATION:

It is recommended that the City Council:

1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Stormwater Debt Service Fund in the amount of $2,000.00 from available interest earnings for the purpose of funding handling charges for debt payments;

2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Municipal Parking Debt Service Fund in the amount of $900.00 from available interest earnings for the purpose of funding handling charges for debt payments;

3. Adopt the attached appropriation ordinance increasing appropriations in the General Fund in the amount $9,604.00 for the purpose of correcting an unbalanced transfer to the General Fund from the Water and Sewer Fund for the public art program; and

4. Adopt the attached supplemental appropriation ordinance decreasing appropriations in the various Taxing Increment Reinvestment Zone funds in the total amount of $3,202,120.00 for Fiscal Year 2018.

 
DISCUSSION:

The City's annual Operating Budget is formally enacted into law by City Council action adopting an appropriation ordinance that establishes spending limits for each department's operation.  The purpose of this Mayor and Council Communication (M&C) is to address mid-year adjustments to various funds as described below.

Additional appropriations are needed in the Stormwater and Municipal Parking Debt Service Funds to cover handling charges.  These charges were not included in the Fiscal Year 2018 budget, but it has since been determined these fees may be expended out of the debt fund.  

Recommendation three includes appropriations to correct an unbalanced transfer for the public art program.   The transfer from the Water and Sewer Fund to support the public art program was budgeted for the full amount of the program costs of $552,932.13, however the corresponding appropriation for the program was $543,328.34, leaving a shortfall of $9,603.79 in the General Fund.

On October 10, 2017, M&C G-19129 established the Fiscal Year 2018 appropriations for the various Taxing Increment Reinvestment Zones (TIRZs)  in the amount of $65,336,897.00.  Based on the final  audited numbers from the Fiscal Year 2017 Comprehensive Annual Financial Report,  mid-year reductions are needed to bring the funds into balance.   Adjustments in the following TIRZ funds in the total amount of $3,202,120.00 will decrease the use of fund balance based on available funds.  TIRZ No. 4 includes an additional appropriation of $6,956.00 to correct an unbalanced transfer.  

TIRZ Number

     Fund        

Adjustment

TIRZ No. 4 – Southside Med Dist

28604

($2,677,628.00)

TIRZ No. 8 – Lancaster

28608

($262,415.00)

TIRZ No. 9 – Trinity River Vision

28609

($228,684.00)

TIRZ No. 9A – Trinity River Vision

28790

($2,329.00)

TIRZ No. 12 – East Berry

28612

($11,943,00)

TIRZ No. 13 – Woodhaven

28613

($8,549.00)

TIRZ No. 15 – Stockyards/Northside

28615

($10,572.00)

This M&C does not request approval of a contract with a business entity.

 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that upon approval of the above recommendations and the adoption of the attached appropriation ordinance, funds will be available in the Fiscal Year 2018 operating budgets as appropriated to the various funds.

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:
Fernando Costa (6122)
Originating Department Head:
Lynda Johnson (6222)
Additional Information Contact:
Terry Hanson (7934)

 
 
ATTACHMENTS
  03FY2018 MID-YEAR ADJUSTMENTS AO REC1.docx
  03FY2018 MID-YEAR ADJUSTMENTS AO REC2.docx
  03FY2018 MID-YEAR ADJUSTMENTS AO REC3.docx
  03FY2018 MID-YEAR ADJUSTMENTS AO REC4.docx