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 and add a new disposal fee for non-residents.
Summary
DATE: August 16, 2022
TO: Kent Cagle, City Manager
FROM: Miranda Drake, Director of Budget
SUBJECT: Budget Amendment and Addition of Non-Resident Disposal Fee
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 seven major initiatives that include amending operational funds, recognizes funds to be received for multiple fire deployments, transfer of fleet services fund balance, debt service adjustments, appropriate wastewater impact fee funds for sewer project, transfer fund balance in excess of 22% for capital improvement projects per the Financial Governance Policy, and addresses a grant allocation.
Non-grant Budget Amendments -
There are thirteen (13) 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 most recent U.S. Energy Information Administration's outlook, we are estimating an average of $3.87 per gallon for unleaded and $4.49 per gallon for diesel through the end of the fiscal year. This will result in an increase of $300,000 to the major operating funds for fuel accounts.
2. Due to a large number of reti...
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