Texarkana City
TX

Ordinance
2005

Ordinance No. 2019-010 amending the Major Maintenance Fund (Fund 120) budget for fiscal year 2019 and adding the amount of ONE HUNDRED SIXTY-FIVE THOUSAND THREE HUNDRED SEVENTY DOLLARS AND THIRTY-ONE CENTS ($165,370.31) for unspent funds from the prior fiscal year.

Information

Department:Finance DepartmentSponsors:
Category:Budget

Body

 

Updates/History of Briefing:

 

Not Applicable

 

Executive Summary and Background Information:

 

In Fiscal Year 2018 the Major Maintenance Fund was established to account for major maintenance projects within the city. It’s source of revenue was a transfer of $3 million from the General Fund. In Fiscal Year 2019 the General Fund transferred an additional $500,000 to the Major Maintenance Fund. Revenue and expenditures for major maintenance are accounted for separately in this fund, which allows for the fund to maintain a rolling fund balance exclusively for major maintenance needs. There is currently $165,370.31 available for appropriation in this fund.

 

Potential Options:

·         Approve

·         Deny

 

Fiscal Implications:

Appropriation of current available fund balance.

 

Staff Recommendation:

Staff recommends approval

 

Advisory Board/Committee Review:

None

 

Board/Committee Recommendation: 

Not Applicable

 

Advisory Board/Committee Meeting Date and Minutes: 

Not Applicable

 

 

 

 

Meeting History

Jan 28, 2019 6:00 PM Video City Council Regular Meeting
RESULT:ADOPTED [UNANIMOUS]
MOVER:Jean H. Matlock, Ward 1
SECONDER:Christie Alcorn, Ward 4
AYES:Bob Bruggeman, Jean H. Matlock, Mary Hart, Betty Williams, Christie Alcorn, Josh Davis
ABSENT:Bill Harp