Title
HOLD a public hearing and consider an ordinance amending the FY 2023 Annual Budget of the City of Killeen to adjust revenue and expenditure accounts in multiple funds.
Summary
DATE: March 7, 2023
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Assistant Director of Finance
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
This budget amendment addresses three Police initiatives and the Street Light Acquisition.
Police Grants:
* Bullet-Resistant Shield Grant Program from the Office of the Governor
* De-Escalation Grant from the US Department of Justice
* Edward Byrne Memorial Justice Grant Program from the US Department of Justice
Street Light Acquisition:
* Related to Oncor Electric v. The City of Killeen and acquiring the street lighting system
The revenues will be amended as follows:
Revenues
Other e-grants
$157,093
USDOJ
126,100
TOTAL
$283,193
Expenditures will be amended as follow:
Expenditures
Supplies
$157,093
Training & Travel
49,000
Reserve Appropriation
38,932
Pass Thru Grants
38,168
Design/Engineering
1,224,700
TOTAL
$1,507,893
THE ALTERNATIVES CONSIDERED:
Option 1 - Do not approve the ordinance amending the FY 2023 Annual Budget.
Option 2 - Approve the ordinance amending the FY 2023 Annual Budget.
Which alternative is recommended? Why?
Option 2 is recommended to approve the ordinance amending the FY 2023 Annual Budget.
CONFORMITY TO CITY POLICY:
The City's Financial Governance Policies, Section V. Budget Administration (B)(1) states that City Council may amend or change the budget by ordinance.
FINANCIAL IMPACT:
What is the amount of the expenditure in the current fiscal year? For future years?
This budget amendment will appropriate $283,193 in grant revenue and the offsetting expenditures in FY 2023. In addition, this budget amendment appropriates $1,224,700 of fund balance in the Governmental CIP Fund related to street light acquisition expenditures.
Is this a one-time or recurring expenditure?
One-time
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