HomeMy WebLinkAboutItem 07 - FY2007-2008 BudgetFY2007-2008 Budget Ordinance
ORDINANCE NO. I
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, 2007 AND ENDING SEPTEMBER
30, 2008; PROVIDING FOR INTRA- AND INTER-
DEPARTMENTAL FUND TRANSFERS; PROVIDING FOR
INVESTMENT OF CERTAIN FUNDS; DECLARING AN
EMERGENCY; AND PROVIDING AN EFFECTIVE DATE
WHEREAS, notices of public hearings on the budget for the City of Grapevine,
Texas for the Fiscal Year 2007-2008 (FY2008) were heretofore published in accordance
with law; and
WHEREAS, public hearings were 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 FY2007-2008 budget for the
different funds of the City of Grapevine are hereby fixed as follows:
General Fund............................................................... $50,127,185
Utility Enterprise Fund............. .....................................
19,847,132
Debt Service Fund .......................................................
12,687,495
Convention & Visitors Bureau Fund .............................
15,661,264
Lake Enterprise Fund ...................................................
3,170,095
Streets & Drainage Capital Projects ............................
10,495,000
Permanent Street Maintenance Fund ..........................
1,180,000
General Permanent Capital Maintenance Fund ...........
675,076
Utility Permanent Capital Maintenance Fund ...............
1,000,000
Stormwater Drainage Fund ..........................................
2,159,034
LakeParks Fund..........................................................
751,062
Water System Capital Projects ...................................
4,261,370
Wastewater System Capital Projects ...........................
1,147,578
4BFund.......................................................................
8,362,480
Crime Control & Prevention District Fund ....................
11,424,605
Community Quality of Life Fund ...................................
4,502,417
Buildings & Facilities Capital Projects ..........................
1,923,000
Traffic Improvements Capital Projects .........................
542,999
Parks & Beautification Capital Projects ........................
4,902,417
Capital Equipment Acquisitions... .................................
1,907,669
Section 2. That the City Council hereby adopts the revised budget for the fiscal
year ending September 30, 2007 and the proposed Annual Operating Budget for the fiscal
year ended September 30, 2008 and appropriates the funds contained therein.
Section 3. That a copy of the official adopted FY2007-2008 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 FY2007
and FY2008 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 Managing Director of Financial Services 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 General Fund, the Lake
Enterprise Fund is suspended for FY2007 and FY2008.
Section 9. The fact that the fiscal year begins on October 1, 2007 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 emergency is hereby declared.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 18th day of September, 2007.
ORD. NO. 2
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