Title
HOLD a public hearing and consider an ordinance amending the FY 2023 Annual Budget of the City of Killeen to increase expenditure accounts in the Governmental and Drainage CIP Funds.
Summary
DATE: October 4, 2022
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Director of Budget
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
The following budget amendment allocates funding for the Chaparral Road Widening project. These funds were originally appropriated when the FY 2020 budget and CIP was adopted. Per Section 73 of the City of Killeen Charter, "The purpose of any such appropriation shall be deemed abandoned if three years pass without any disbursement from the appropriation." This budget amendment reinstates the funding that was originally appropriated in FY 2020.
Expenses will be amended as follows:
Expenses
CIP PROJECTS / DESIGN/ENGINEERING
$3,000,000
CIP PROJECTS / CONSTRUCTION
500,000
TOTAL
$3,500,000
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 $3,500,000 to fund the Chaparral Road Widening project.
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 Bu...
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