Title
HOLD a public hearing and consider an ordinance amending the FY 2022 Annual Budget of the City of Killeen to adjust revenue and expenditure accounts in multiple funds.
Summary
DATE: April 19, 2022
TO: Kent Cagle, City Manager
FROM: Jonathan Locke, Executive Director of Finance
SUBJECT: Budget Amendment
BACKGROUND AND FINDINGS:
This budget amendment addresses operational accounts in multiple funds, appropriates Public Facility Corporation (PFC) funds, provides funding for additional police interceptors, appropriates remaining funds in the old Water & Sewer bond, addresses multiple grant allocations, and recognizes funds to be received for multiple fire deployments.
Non-grant Budget Amendments -
There are eight (8) different items addressed in this budget amendment:
1. Fuel has substantially increased in the past few months causing shortages in fuel accounts. The budget was built using $2.41 per gallon for unleaded and $2.45 per gallon for diesel. Based on the current U.S. Energy Information Administration's outlook, we are estimating an average of $3.73 per gallon for unleaded and $3.91 per gallon for diesel through the end of the fiscal year. This will result in an increase of $549,558 to the major operating funds for fuel accounts.
2. Fuel increases have also impacted the cost of gas and propane utilities. This coupled with multiple days with below freezing temperatures create the need to increase departmental budgets for those facilities using gas and propane utilities. This will result in an increase of $34,175 to multiple operating funds for citywide gas/propane utility accounts.
3. At closing, the NRP Group paid an $82,000 parkland fee for Conder Park and a $350,000 structuring fee to the Public Facility Corporation. On January 11, 2022, City Council provided a motion of direction to appropriate the $82,000 parkland fee to Conder Park and transfer $82,000 of American Rescue Plan Act (ARPA) funds to Downtown Events. The Public Fac...
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