Title
Consider and take action on an ordinance amending the City of League City, Texas, Governmental, Proprietary, and Capital Funds Budget for Fiscal Year 2018 by amending Ordinance No. 2017-21 to adjust the operating and capital budget for actual and projected expenditures (Budget & Financial Planning Manager)
Staff requests first and final reading.
Background:
The proposed ordinance requests adjustments to the Hurricane Harvey Fund with an increase of $1,000,000.
If approved, the proposed ordinance would amend the City’s FY 2018 budget to incorporate the proposed adjustment to establish funding for the Hurricane Harvey Fund in FY2018.
Hurricane Harvey Fund: Decrease of $1,000,000 in FY2017 to establish funding for FY2018 budget in the Hurricane Harvey Fund. This fund tracks all expenses related to Harvey which will assist in reporting required by FEMA. The Hurricane Harvey fund was established in September 2017 with $3,000,000 transferred from the General Fund. After reviewing anticipated expenses through September 30, 2017, staff recommends transferring $1,000,000 from the FY2017 budget to the FY2018 budget. The funding will be used to cover expenses incurred related to Harvey in the new fiscal year. This amendment decreases the FY2017 budget by $1,000,000. There is a separate agenda item to establish the $1,000,000 FY2018 budget for expenses related to Harvey in the new fiscal year.
The requested adjustment to the Hurricane Harvey Fund is an increase of $1,000,000. This increase results in a total fund appropriation of zero to $1,000,000 budgeted in FY2018. A separate agenda item is proposed to decrease the FY2017 budget by $1,000,000. A large portion of Hurricane Harvey expenses are anticipated to be reimbursed through insurance and FEMA.
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 t...
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