HomeMy WebLinkAboutORD 2007-02 - 2005/06 BudgetWHEREAS, the City issued refunding debt in 2006 and made payments to a bond
escrow agent; and
WHEREAS increased fuel costs in 2005/06 have resulted in greater costs in the Electric
Fund and the Airport Fund; and
WHEREAS, the City received greater than expected revenue from festivals in the
Tourism Fund and cemetery sales in the Cemetery Special Revenue Fund; and
WHEREAS, the City paid cleanup costs in the Sanitation Fund which will be offset with
future bond proceeds; and
WHEREAS, the timing of certain expenses that were appropriated in 2004/05 actually
occurred in 2005/06 in the Fire Special Revenue Fund, Court Special Revenue Fund, and Public
Safety Capital Fund; and
WHEREAS, these circumstances have resulted in higher than anticipated expenses; and
WHEREAS, the changes were unknown and unforeseeable at the time the fiscal year
2005/06 budget was approved; and
WHEREAS, the City Charter allows for changes in the Annual Operating Plan by a Council
majority plus one in emergency situations;
7#T1M OR. BE ORDAINED BY THE CITY COUNCILOF THE CITY Ci
GEORGETOWN, k THAT:
SECTION 1.
The facts and recitations contained in the preamble of this ordinance are hereby found and
declared to be true and correct, and are incorporated by reference herein and expressly made a part
hereof, as if copied verbatim. The City Council hereby finds that this ordinance implements the
following policy of the Century Plan - Policy Plan Element:
1. Policy Statement13.0, which states: "All municipal operations are conducted
in an efficient business -like manner and sufficient financial resources for both short-
term and long-term needs are provided", and further finds that the enactment of this
Ordinance is not inconsistent or in conflict with any other Century Plan Policies, as
required by Section 2.03 of the Administrative Chapter of the Policy Plan.
000 Aool�m
Budget Amendment No. 1
Page 1 of 3
P:WGENDA\2007\Budget\06YEBA-Ordinance.doc
SECTION 2
The amendment to the 2005106 Annual Operating Plan Element (Budget) of the revenues of the
City of Georgetown and expenses of conducting the affairs thereof, is in all things adopted and
approved as an addition to the previously approved budget of the current revenues and expenses
as well as fixed charges against said City for the fiscal year beginning October 1, 2005, and ending
September 30, 2006. A copy of the amendment is attached hereto as Exhibit "A", and incorporated
by reference herein.
SECTION 3.
The total of $15,192,000 is hereby appropriated for payments of expenditures and payments of
the funds and included in the Exhibit "A".
SECTION 4
All ordinances and resolutions, or parts of ordinances and resolutions, in conflict with this
Ordinance are hereby repealed, and are no longer of any force and effect.
SECTION 5.
If any provision of this ordinance or application thereof to any person or circumstance, shall be
held invalid, such invalidity shall not affect the other provisions, or application thereof, of this
ordinance which can be given effect without the invalid provision or application, and to this end the
provisions of this ordinance are hereby declared to be severable.
SECTION 6.
The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest. This
ordinance shall become effective upon adoption of its second and final reading by the City Council
of the City of Georgetown, Texas.
PASSED AND APPROVED on First Reading on the 9th day of January, 2007.
PASSED AND APPROVED on Second Reading on the 23rd day of January, 2007.
ATTE : 4
WrwL "<.
"Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
r j
Patricia T. Carls, Brown and Carls, L.L.P
City Attorney
Budget Amendment No. 1
Page 2 of 3
P:\AGENDA\2007\Budget\06YEBA-Ordinance.doc
THE�ICITY O GEORGETOWN:
By: GaV Nelon
Mayor
E,.r IBIT A
Annual Operating Plan Element (Budget) Amendment
Pi WGENIDA\2007\Budget [06YEBA-Exhibit.xls]A
General Debt Service Fund
Revenues/Sources:
Proceeds from Refunding Bonds $ (7,830,000)
Expenditures
Bond Issuance Costs 93,200
Payments to bond escrow agent 7,736,800
Excess revenue over expenses $ 0
Fire Special Revenue Fund
Revenues/Sources:
Fund Balance $ (20,000)
Expenditures
Expenditure 20.000
Excess revenue over expenses $ 0
Court Special Revenue Fund
Revenues/Sources:
Fund Balance $ (42,000)
Expenditures
Expenditure 42,000
Excess revenue over expenses $ 0
Cemetery Special Revenue Fund
Revenues/Sources:
Cemetery Plot Revenue $ (5,000)
Expenditures
Cemetery Plot Expense 5,000
Excess revenue over expenses $ 0
Tourism Special Revenue Fund
Revenues/Sources:
Red Poppy Festival Revenue $ (5,000)
Expenditures
Red Poppy Festival Expenditure 5,000
Excess revenue over expenses $ 0
General Capital Proiects Fund
Revenues/Sources:
Fund Balance $ (40,000)
Expenditures
Expenditure 40,000
Excess revenue over expenses $ 0
Electric Fund
Revenues/Sources:
Electric Revenue $ (61200,000)
Expenditures
Purchase Power Expense 6,200,000
Excess revenue over expenses $ 0
Airport Fun
Revenues/Sources:
Fuel Revenue $ (475,000)
Expenditures
Fuel Expense 475,000
Excess revenue over expenses $ 0
Sanitafion Fund
Revenues/Sources:
Bond Proceeds (future issue) $ (575,000)
Expenditures
Cleanup Expenses 575,000
Excess revenue over expenses $ 0