Title
HOLD a public hearing and consider an ordinance amending the FY 2021 Annual Budget of the City of Killeen to adjust revenue and expenditure accounts in multiple funds.
Summary
DATE: September 21, 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:
City staff creates a yearend budget amendment to align budgets with estimated revenues and expenditures. Staff has forecasted revenues and expenditures through the end of the fiscal year and identified accounts that require a budget amendment. The City Charter authorizes the City Manager to approve budget amendments between accounts of the same department and fund. The City Council must approve budget amendments between accounts of different departments and to increase the overall budget of a fund.
The budget amendment predominantly addresses five major initiatives that include amending operational funds; establishing a health insurance fund; American Rescue Plan Act (ARPA) funding; debt service adjustments; and transfer fund balance in excess of 22% for capital improvement projects per the Financial Governance Policy.
Operational Funds -
There are five operational fund items addressed in this budget amendment:
1. Appropriating CARES Act revenue of $66,531 from the Texas Workforce Commission for unemployment claims and appropriate the additional unemployment claims of $88,204. Funds are available in the consulting account to cover the remaining $21,673.
2. As discussed at the September 7, 2021, City Council Workshop, the City needs to purchase additional COVID t...
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