HomeMy WebLinkAboutOrdinance 22858-09-2017 Ordinance No. 22858-09-2017
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE LAKE WORTH TRUST FUND IN THE AMOUNT OF $1,621,209.61, FROM
AVAILABLE FUNDS, FOR THE PURPOSE OF TRANSFERRING FUNDS FROM THE
LAKE WORTH LEASES SALES PROJECT; PROVIDING FOR A SEVERABILITY CLAUSE;
MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2016-2017 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Lake
Worth Trust Fund in the amount of$1,621,209.61, from available funds, for the purpose of transferring funds
from the Lake Worth Leases Sales project.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair
the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 22393-09-2016 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APP OVED A T FORM AND LEGALITY: CITY SECRETARY
Aeann Guzman, Senio Assistant City Attorney Mary J. Kays
ADOPTED AND EFFECTIVE: September 12, 2017
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/12/2017 - Ordinance No. 22858-49-2417
DATE: Tuesday, September 12, 2017 REFERENCE NO.: **G-19089
LOG NAME: 03LAKE WORTH TRUST FUND APPROPRIATION
SUBJECT:
Adopt Appropriation Ordinance in the Amount of$1,621,209.61 for Revenue Collected to Date in the Lake
Worth Lease Sales Project of the Lake Worth Trust Fund (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated
receipts and appropriations in the Lake Worth Trust Fund in the amount of$1,621,209.61.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to bring the Lake Worth Leases Sales
project (S00136) of the Lake Worth Trust Fund, which predates ERP implementation, into balance. As
Staff continues to reconcile and restructure old funds, it was determined that two transfers totaling
$1,621,209.61 (M&C C-21951 on January 30, 2007 and M&C C-21425 on May 2, 2006) were approved by
City Council but did not have necessary appropriation ordinances. This project currently records lease
revenue from Lake Worth properties and is dedicated in the Financial Management Policy Statements to
Water and Sewer Capital improvements.
Beginning in FY2018, the revenues and expenditures associated with Lake Worth leases, boat fees, etc.
and City Marshal security of the lake will be recorded in the General Fund instead of the Lake Worth Trust
Fund (S00135).
A future M&C will appropriate remaining revenue collected in the Lake Worth Leases Sales project of the
Lake Worth Trust Fund in the estimated amount of$1,114,561.32 and transfer it to appropriate project
funds. The current Financial Management Policy Statements dedicate these funds to Water and Sewer
capital improvements around the lake. However, Staff will review the current projects funded for this
purpose and also make recommendations regarding platting and open space acquisition needs around
the lake as an alternative. Sale of all future lots will be recorded in an appropriate capital project fund for
these types of initiatives around the lake. This final step this fall will allow closure of the Lake Worth Trust
Fund.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendation and adoption of the
attached appropriation ordinance, funds will be available in the current operating budget, as appropriated,
of the Lake Worth Trust Fund.
FUND IDENTIFIERS (FIDs):
TO
Logname: 03LAKE WORTH TRUST FUND APPROPRIATION Page I of 2
Fund= Department ccoun Project lProgram ctivi Budget Reference # moun
_p. ID ID , Year (Chartfield 2)
FROM
Fund, Department ccoun Project JProgram ctivity Budget Reference # moun
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CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Lynda Johnson (6222)
Additional Information Contact: Terry Hanson (7934)
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