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HomeMy WebLinkAboutResolution 3400-08-2006A Res®lution NO 3400-08-2006 APPROVING THE FY 2006-2007 BUDGET FOR DALLAS/FORT WORTH INTERNATIONAL AIRPORT WHEREAS, the Dallas/Fort Worth International Airport Board recommended that the City of Port Worth approve the budget of the Dallas/Port Worth International Airport for this fiscal year commencing October 1 2006 and has appropriated the monies in the amounts and for the purposes set forth in the budget and WHEREAS, the requirements are considered to be sufficient to maintain and operate the Airport and meet the debt service requirement on all outstanding bonds and W1H(EREAS, it is anticipated that no City tax revenues nor any other City monies will be required for these purposes in the coming years NOW, THEREFORE, BE IT~ RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, THAT SECTION 1 The Operating Budget of the Dallas/Fort Worth Intexnational Airport for the fiscal year beginning October 1 2006 and ending September 30 2007 is hereby approved and SECTION 2 This resolution take effect immediately upon passage Adopted this 22nd day of August ___,__~ 2006 s- h. p"` ~~ By -~.. t. :.' . ~« ~ c -. r~ M ~ .~ ,~. ~, Marty~,yRl-I~end[~~rMi}x~(, ty Secretary APPROVED CITY COUNCIL AUG 2 2 2006 ~G~~~v T City Seczetary of the City of Fort Wosth, Texas Resolution No 34UU-U8-2UU6 ~ ~ .:~ DAi.LAS FORT WORTH NiITERNATIONAL AIRPORT BOARD OFFICIAL BOARD AGTIONIRRSOLUTION Date: Subject: Approval of Fiscal Year 2007 Operating Resolution Na.: 06-29-2006 Revenue and Ex ense pond Bud et 2006-06-208 ReCOmenended Action: That the Airport Board approve the FY 2007 Operating Revenue and Expense Fund Bud et (Fund 102) Description: ® Approve the Fiscal Year 2007 Operating Revenue and Expense Fund (102 Fund} Budget, which will commence an October 1 2006 and end on September 30, 2007 Justification: m Section 8J of the Contract and Agreement betweEn the Cities of Dallas and Fort Worth requires the Airport Board to approve the annual expenditures of the Airport (as included in the Operating Revenue and Expense Fund) and forward the approved budget to the Owner Cities by July 15 of oath year for their approval by September 1 Additional information: • The FY 2006 Budget is $618.7 million, a $11 9 million (1 9°/a) decrease from the FY 2006 Budget of 5630.7 million. ® Tha budget is categorized into the foiiow`ing categories for reporting purposes: FY 2006 FY 2007 102 Fund Bud et (in Millions} Bud et Bud et Inc (Dec} Operating Budget $ 336.1 $ .321,7 $ (14.4} Net Debt Service & Coverage 294.5 297,0 2.5 Total 102 Budget $ 630.6 $ 618.7 $ (11.4) The Board received a budget book explaining variances from the FY 2U06 Budget andthe components of the FY 2007 Budget; was provided an overview of the Budget on June 1 2006; and was briefed in detail at a specie! Board review session on June 29 2006. Committee: Contract Na(s}: Action Amount: pinanteJAudir~ ,,, . Purchase Order No(s): Revised Amount: Par information contact: Agreesr-ent No(s}: Christopher Foinsatte (972} 574-6334 Resolution No 34UU-U8-2UU6 RESOLUTION Na.: 2ooE~-ara-2oa B£ 1T RESOLV£D BY THE DALlAS-FORT WORTH iNTERNATiONAt AIRPORT BDARD: SECTION is That the i=fiscal Year 2007 Operating Revenue and Expense 302 Fund Budget, commencing on October 1 2006, is hereby approved in the total amount not to exceed of $b18,bb7 481 and the Chief Executive Officer or his [?esignee is hereby directed to obtain further approvals thereof from the City Counciis of Dallas and Fort Worth in accordance with the 1968 Contract and Agreement. SECTION II: The Chief Executive Officer or his ©esignee has the authority to transfer funds between the Operating Budget and Net Debt Service and Coverage categories providing that the totai expenditures from these categories do not exceed $618,667 9$1 S£CYION Ili: Rates fees and charges shall be calculated on this amount. SECTION Vi: This Resolution shah take effect immediately upon its- passage. ~d as to For ave t Funding Approved as to IN/1NI3E: Gounsei Vice Pre dent Nice President Finance -~/-o;~ ____ Date Signed TURFS REQUIR£d`£OR APPROVAL: Smaii and Emerging Business ~ /~/~ ~ Date Signed ~~., ~ ,Q~ De artmen# Y'sce President ecu ve Officer ~~'_-~-'...._._.__ p Date Signed Date Signed