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 chang...
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