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
Is this expenditure budgeted?
Upon approval of the attached ordinance amending the FY 2023 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 2023 Annual Budget
RECOMMENDATION:
City Council approve the ordinance amending the FY 2023 Annual Budget.
DEPARTMENTAL CLEARANCES:
Legal
ATTACHED SUPPORTING DOCUMENTS:
Ordinance