Title
HOLD a public hearing and consider an ordinance amending the FY 2022 Annual Budget of the City of Killeen to increase revenue and expense accounts in multiple Aviation Funds.
Summary
DATE: September 6, 2022
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Director of Budget
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
The following budget amendment addresses funding for two FAA grants.
1. A Federal Aviation Administration (FAA) Airport Improvement Program (AIP) Grant for the Rehabilitation of Taxiway B Project was accepted at the City Council meeting on August 23, 2022. This budget amendment appropriates additional grant funding and the required grant match.
The revenues will be amended as follows:
|
Revenues |
|
|
AVIATION / USDOT-FAA |
$903,858 |
|
TOTAL |
$903,858 |
The expenses will be amended as follows:
|
Expenses |
|
|
CIP PROJECTS / DESIGN/ENGINEERING |
$903,858 |
|
CIP PROJECTS / PFC PROJECTS |
100,431 |
|
TOTAL |
$1,004,289 |
2. A Federal Aviation Administration (FAA) Military Airport Program (MAP) Grant for the Corporate Hangar II Project was presented today at this same City Council meeting. This budget amendment appropriates the grant funding and the required grant match.
The revenues will be amended as follows:
|
Revenues |
|
|
AVIATION / USDOT-FAA |
$853,070 |
|
TRANSFER FROM FUND 524 |
370,000 |
|
TRANSFER FROM FUND 525 |
125,000 |
|
TOTAL |
$1,348,070 |
The expenses will be amended as follows:
|
Expenses |
|
|
CIP PROJECTS / DESIGN/ENGINEERING |
$322,300 |
|
CIP PROJECTS / CONSTRUCTION |
1,719,667 |
|
TRANSFER TO FUND 523 |
495,000 |
|
TOTAL |
$2,536,967 |
THE ALTERNATIVES CONSIDERED:
Option 1 - Do not approve the ordinance amending the FY 2022 Annual Budget.
Option 2 - Approve the ordinance amending the FY 2022 Annual Budget.
Which alternative is recommended? Why?
Option 2 is recommended to approve the ordinance amending the FY 2022 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 recognize additional revenue for two FAA grants and appropriate funds for the grant match of the Taxiway B Project and the Corporate Hangar II Project in the amount of $1,348,070. Additionally, this budget amendment appropriates $2,536,967 to fund project expenses.
Is this a one-time or recurring expenditure?
One-time
Is this expenditure budgeted?
Upon approval of the attached ordinance amending the FY 2022 Annual Budget.
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this expenditure?
Upon approval of the attached ordinance amending the FY 2022 Annual Budget.
RECOMMENDATION:
City Council approve the ordinance amending the FY 2022 Annual Budget.
DEPARTMENTAL CLEARANCES:
Legal
ATTACHED SUPPORTING DOCUMENTS:
Ordinance