Title
Consider and take action on an ordinance amending the City of League City, Texas, Governmental, Proprietary, and Capital Funds Budget for Fiscal Year 2017 by amending Ordinance No. 2016-30 to adjust the operating and capital budget for actual and projected expenditures (Assistant City Manager)
Staff requests first and final reading.
Background:
The proposed ordinance requests adjustments to the General Fund with a $760,000 increase and the Capital Budget with a $760,000 increase.
If approved, the proposed ordinance would amend the City’s FY 2017 budget to incorporate proposed adjustments for:
· General Fund Transfers: $760,000 increase in the General Fund transfer to other funds for the reinvestment program annual stormwater improvement project ($110,000) and the South Shore Municipal Utility District #2 fund ($650,000). The $760,000 is provided by increased property tax revenue due to certified taxable values exceeding those estimated during the budget process.
· Capital Budget: $110,000 increase to the project budget for the annual stormwater improvement project as a part of the reinvestment program and $650,000 increase to the South Shore MUD #2 fund for final payment to the developer.
General Fund
The requested adjustment to the General Fund in the amount of $760,000 results in a total fund appropriation increase from the original budget of $73,943,248 to $74,703,248.
Capital Budget
The requested adjustment to the Capital Budget in the amount of $760,000 with the entire amount being funded by an increase in the general fund transfer results in the total amended program appropriation from the original of $64,338,179 to $65,098,179.
In addition to the data sheet this packet includes:
· Budget Ordinance and Exhibit A, B & C - Exhibit A details how these adjustments affect the approved budgets by fund and department; Exhibit B details the Capital Budget; Exhibit C details the citywide summary
ATTACHMENTS
1. Data Sheet
2. Proposed Ordinance wi...
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