Title
HOLD a public hearing and consider an ordinance amending the FY 2023 Annual Budget of the City of Killeen to increase revenue and expense accounts in multiple funds.
Summary
DATE: July 18, 2023
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Assistant Director of Finance
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
This budget amendment addresses two initiatives: 1) appropriates the revenue and expense for the Pavement Management Program at the Killeen Fort Hood Regional Airport; and 2) appropriates the additional funds for the Certificates of Obligation, Series 2023 bond issue and reappropriates project budgets according to City Council direction.
1) There is a grant of $89,190 from the Federal Aviation Administration (FAA) that will pay for 90% of the project and the required 10% grant match will come from the Aviation CIP Fund in the amount of $9,910.
Revenues
USDOT-FAA
$89,190
TOTAL REVENUE
$89,190
Expenses
Design/Engineering
$99,100
TOTAL EXPENSE
$99,100
2) The FY 2023 Adopted Budget included projects for a planned Certificates of Obligation (CO) bond issue of $20,000,000. After two workshops where Citizens provided input along with a website survey to gather Citizen's input, City Council authorized a notice of intent to issue $32 million CO for a modified list of capital projects.
The original project list included the Animal Services Quarantine Facility ($1,090,000), City Hall HVAC Upgrades ($1,545,635), City Hall Structural Improvements ($975,750), and the Police Department North Annex Remodel ($7,150,000). In May 2023, the City Council approved the purchase of a new Animal Services Facility for pet adoptions and other operations so that the current adopt facilities can then be used for quarantine facilities. This purchase was paid for with fund balance and payments that will be made through the Fort Cavazos Intergovernmental Services Agreement over the next two fiscal years. The City Hall improvements, City Hall HVAC...
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