HomeMy WebLinkAboutORD 2008-02 -2006/07 Annual Operating BudgetORDINANCE NO.
WHEREAS, the City issued refunding debt in 2007 and made payments to a bond
escrow agent; and
WHEREAS increased fuel costs have resulted in greater costs in the Airport Fund; and.
WHEREAS, the City received greater than expected revenue in the Tourism Fund; and
WHEREAS, the City received grant revenue in the Airport Fund and Police Special
Revenue Fund; and
WHEREAS,
fund balance is
proposed
to be used to fund capital
improvements related to
timing of projects in
the electric fund
that were
originally budgeted in the
2007/08 budget; 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
2006/07 budget was approved; and
WHEREAS, the City Charterallows for changes in the Annual Operating Plan by a Council
majority plus one in emergency situations;
NOir - s=�� i • •, •
e%37EORGETOWN, TEXAS, 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.
SECTION 2.
The amendment to the 2006/07 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
QkDo O �0z
Budget Amendment No. 1
Page 1 of 3
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as well as fixed charges against said City for the fiscal year beginning October 1, 2006, and ending
September 30, 2007. A copy of the amendment is attached hereto as Exhibit "A", and incorporated
by reference herein.
SECTION 3.
The total of $4,962,634 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 8th day of January, 2008
PASSED AND APPROVED on Second Reading on the 22nd day of January, 2008.
ATTE'. n
f Af�
r
Sandra D. Lee
City Secretary
APPROVED AS TO FORM:
Patricia 1. Carls, Caris, McDonald, & Dalrymple, L.L.P.
City Attorney
L�
Budget Amendment No. 1
Page 2 of 3
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THE/`CITY OF GEORGETOWN:
EXHIBIT
PAAGENDA\2008\YE07\[07YEBAFI NAL-Exhibit.xls]A
General Debt Service Fund_
Revenues/Sources:
Proceeds from Refunding Bonds $ (3,2301334)
Expenditures
Bond Issuance Costs 70,187
Payments to bond escrow agent 31160,147
Excess revenue over expenses $ 0
Tourism Special Revenue Fund
Revenues/Sources
Red Poppy Festival Revenue $ (71500)
Expenditures
Red Poppy Festival Expenditure 71500
Excess revenue over expenses
Police Special Revenue Fund
Revenues/Sources:
Fema grant revenue
Transfer In - Grant Match
Expenditures
Fema expenditures
Excess revenue over expenses
Airport Fund
Revenues/Sources:
Fuel Revenue
Grant Revenue
Expenditures
Fuel Expense
Airport Tower Grant
Excess revenue over expenses
Electric Fund
Revenues/Sources:
Fund Balance
Expenditures
Substation Improvements
Excess revenue over expenses
$ (56,100)
(18,700)
74.800
0
(150,000)
(100,000)
150,000
100,000
45
(154003000)
1,400,000