TITLE
HOLD a public hearing and consider an ordinance amending the FY 2021 Annual Budget of the City of Killeen to increase revenue in the Aviation fund.
SUMMARY
DATE: April 6, 2021
TO: Kent Cagle, City Manager
FROM: Jonathan Locke, Executive Director of Finance
VIA: Miranda Drake, Director of Budget
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
The following is a budget amendment for a grant City Council will consider at the same meeting.
The Coronavirus Response and Relief Supplemental Appropriation (CRRSA) Act, Public Law 116-260, signed into law by the President on December 27, 2020, includes nearly $2 Billion in funds to be awarded to eligible U.S. airports to prevent, prepare for, and respond to the COVID-19 pandemic.
The Federal Aviation Administration (FAA) offered the City a CRRSA Act Airport Grant in the amount of $1,758,480 for the Killeen-Fort Hood Regional Airport. This grant can only be used for costs related to operations, personnel, cleaning, sanitization, janitorial services, combating the spread of pathogens, and debt service payments. The City has also been offered a CRRSA Concessions Relief Addendum to this grant, in the amount of $37,830, which provides relief from rent and minimum annual guarantees for eligible airport concessions.
The revenues will be amended as follows:
Revenues
CRRSA Act Airport Grant $1,758,480
CRRSA Concessions Relief Addendum 37,830
TOTAL $1,796,310
THE ALTERNATIVES CONSIDERED:
1) Do not approve the ordinance amending the FY 2021 Annual Budget.
2) Approve the ordinance amending the FY 2021 Annual Budget.
Which alternative is recommended? Why?
Option 2 is recommended to approve the ordinance amending the FY 2021 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:
This budget amendment will recognize revenue...
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