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HomeMy WebLinkAboutItem 01 - Operating BudgetITEM # MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: BRUNO RUMBELOW, CITY MANAGER MEETING DATE: SEPTEMBER 13, 2011 SUBJECT: FY 2012 OPERATING BUDGET ADOPTION RECOMMENDATION: Staff recommends Council consider an ordinance adopting the FY 2011 -2012 City of Grapevine Annual Budget. The budget includes the programs discussed at the City Council workshop held on August 22, 2011; the public hearing on September 6, 2011; and contains fund expenditures in the following amounts: General Fund $53,253,516 Municipal Court Technology Fund 71,220 Convention & Visitors Bureau Fund 17,781,306 Stormwater Drainage Fund 1,819,471 Crime Control & Prevention District Fund 12,963,649 Lake Parks Special Revenue Fund 1,592,047 4B Economic Development Fund 7,944,146 Debt Service Fund 10,761,248 Utility Enterprise Fund 20,717,145 Lake Enterprise (Golf) Fund 3,197,528 General Permanent Capital Maintenance Fund 1,171,500 Permanent Street Maintenance Fund 1,400,000 Community Quality of Life Capital Project Fund 1,350,804 Convention & Visitors Bureau Capital Projects Fund 573,255 Capital Equipment Acquisitions 4,162,665 BACKGROUND INFORMATION: The FY 2011 -2012 budget, as proposed, is presented for your consideration. The budget presented requires a tax rate of $0.3480. The required public hearing to solicit input was held on September 6, 2011 as required by the City Charter.. ORDINANCE NO. AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS ADOPTING THE BUDGET FOR THE CITY OF GRAPEVINE, TEXAS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012; PROVIDING FOR INTRA- AND INTERDEPARTMENTAL FUND TRANSFERS; PROVIDING FOR INVESTMENT OF CERTAIN FUNDS; DECLARING AN EMERGENCY; AND PROVIDING AN EFFECTIVE DATE WHEREAS, a notice of public hearing on the budget for the City of Grapevine, Texas for the Fiscal Year 2011 -2012 (FY 2012) was heretofore published in accordance with law; and WHEREAS, a public hearing was duly held and all interested persons were given an opportunity to be heard for or against any item therein. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS; Section 1. That the appropriation amounts for the FY2011 -2012 budget for the different funds of the City of Grapevine are hereby fixed as follows: General Fund $53,253,516' Municipal Court Technology Fund 71,220 - Convention & Visitors Bureau Fund 17,781,306 Stormwater Drainage Fund 1,819,471 Crime Control & Prevention District Fund 12,963,649 Lake Parks Special Revenue Fund 1,592,047 4B Economic Development Fund 7,944,146 Debt Service Fund 10,761,248 Utility Enterprise Fund 20,717,145 Lake Enterprise (Golf) Fund 3,197,528 General Permanent Capital Maintenance Fund 1,171,500 Permanent Street Maintenance Fund 1,400,000' Community Quality of Life Capital Project Fund 1,350,804 Convention & Visitors Bureau Capital Projects Fund 573,255 Capital Equipment Acquisitions 4,162,665 Section 2. That the City Council hereby adopts the revised budget for the fiscal year ending September 30, 2011 and the proposed Annual Operating Budget for the fiscal year ending September 30, 2012 and appropriates the funds contained therein. Section 3. That a copy of the official adopted FY2011 -2012 budget document shall be kept on file in the office of the City Secretary and the Grapevine Public Library. Section 4. That the City Manager be and is hereby authorized to make intra and inter - departmental fund transfers during the fiscal year as becomes necessary in order to avoid over - expenditure of a particular object code. Section 5. That the City Manager is authorized to approve expenditures up to $15,000. Any expenditure over the $15,000 limit requires the approval of the City Council. Each expenditure authorized by the City Manager in Account 100- 44701 -120 -1 in FY2011 and FY2012 is approved. Section 6. That the City Manager is authorized to reclassify personnel positions within city service as warranted. Section 7. That the City Manager, and/or Assistant City Manager and/or Director of Administrative Services and /or designated investment officer are authorized to invest any funds not needed for current use, whether operating funds or bond funds in Official City Depositories, in any investment instrument authorized by the City's Investment Policy and Investment Strategy and allowed by the Texas Public Funds Investment Act. Section 8. That the reserve requirement for the Lake Enterprise Fund is suspended for FY2011 and FY2012. Section 9. That the fact that the fiscal year begins on October 1, 2011 requires that this ordinance be effective upon its passage and adopted to preserve the public peace, property, health and safety and shall be in full force and effect from and after its passage and adoption, and an emergency is hereby declared. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 13th day of September, 2011. APPROVED: ORD. NO. 2 ATTEST: APPROVED AS TO FORM: ORD. NO. 3