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 revenues for two grants offered by the FAA. The CRRSA Act Airport Grant, in the amount of $1,758,480, will cover costs related to operations and personnel for the Killeen-Fort Hood Regional Airport. The CRRSA Concessions Relief Addendum grant, in the amount of $37,830, will provide relief from rent and minimum annual guarantees for airport concessions.
What is the amount of the expenditure in the current fiscal year? For future years?
N/A
Is this a one-time or recurring expenditure?
N/A
Is this expenditure budgeted?
N/A
If not, where will the money come from?
N/A
Is there a sufficient amount in the budgeted line-item for this expenditure?
N/A
RECOMMENDATION:
City Council approve the ordinance amending the FY 2021 Annual Budget.
DEPARTMENTAL CLEARANCES:
Finance
Legal
ATTACHED SUPPORTING DOCUMENTS:
Ordinance