HomeMy WebLinkAboutOrdinance 23409-09-2018 Ordinance No.23409-09-2018
AN ORDINANCE DECREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE WATER & SEWER ENDOWMENT GAS LEASE FUND BY $78,157.00 AND
INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE LAKE WORTH
GAS LEASE CAPITAL PROJECT FUND BY THE SAME AMOUNT, FROM CURRENT-
YEAR AVAILABLE REVENUES, TO ADDRESS AND PROPERLY ACCOUNT FOR
BANKING FEES; 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 the amounts allocated to the various City departments for Fiscal Year 2017-2018 in the Budget of the
City Manager shall be adjusted by decreasing the estimated receipts and appropriations in the Water &
Sewer Endowment Gas Lease Fund by $78,157.00 and increasing estimated receipts and appropriations in
the Gas Lease Bank Fees Project of the Lake Worth Gas Lease Capital Project Fund by the same amount,
from current-year available revenues, to address and properly account for banking fees.
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 22928-09-2017 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said prior ordinances and appropriations are hereby expressly repealed.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.
APPROVED ,S O FORM AND LEGALITY: CITY SECRETARY
Deni McElroy sistant City Attorney Mary J. Kay
ADOPTED AND EFFECTIVE: September 25. 2018
City of Fort Worth, Texas
Mayor and Council Communication
MCOUNCIL ACTION: Approved on 9/25/2018 - Ordinance Nos. 23404-09-2018, 23405-09-
2018, 23406-09-2018, 23407-09-2018, 23408-09.2018 and 23409-09-20.18_ __ _.
DATE: Tuesday, September 25, 2018 REFERENCE NO.: **G-19377
LOG NAME: 03GAS LEASE CONSULTANT FEES FY2018 CLEANUP
SUBJECT:
Adopt Ordinances Adjusting Estimated Receipts and Appropriations in Multiple Funds by a Combined Total
Amount Up to $201,862.00, Allocated Proportionately, to Properly Record Fees Paid to Wells Fargo Bank,
National Association, for Banking, Mineral-Lease-Administration Services, and Trust/Asset Management
Services Provided in Fiscal Year 2018 Under City Secretary Contract No. 45281 (ALL COUNCIL
DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance decreasing estimated receipts and appropriations in the PACS
Endowment Gas Lease Fund by $10,478.00 and increasing estimated receipts and appropriations
in the Gas Lease Bank Fees Project of the PACS Gas Lease Capital Projects Fund by the same
amount, from current-year available revenues, to address and properly account for banking fees;
2. Adopt the attached ordinance decreasing estimated receipts and appropriations in the PACS
Endowment Gas Lease Fund by $3,147.00 and increasing estimated receipts and appropriations in
the Gas Lease Bank Fees Project of the Municipal Golf Gas Lease Capital Projects Fund by the
same amount, from current-year available revenues, to address and properly account for banking
fees;
3. Adopt the attached ordinance decreasing estimated receipts and appropriations in the.General
Endowment Gas Lease Fund by $37,888.00 and increasing estimated receipts and appropriations
in the Gas Lease Bank Fees Project of the General Gas Lease Capital Projects Fund by the same
amount, from current-year available revenues, to address and properly account for banking fees;
4. Adopt the attached ordinance decreasing estimated receipts and appropriations in the Aviation
Endowment Gas Lease Fund by $43,343.00 and increasing estimated receipts and appropriations
in the Gas Lease Bank Fees Project of the Aviation Gas Lease Capital Project Fund by the same
amount, from current-year available revenues, to address and properly account for banking fees;
5. Adopt the attached ordinance decreasing estimated receipts and appropriations in the Water&
Sewer Endowment Gas Lease Fund by $28,849.00 and increasing estimated receipts and
appropriations in the Gas Lease Bank Fees Project of the Water& Sewer Gas Lease Capital Project
Fund by the same amount, from current-year available revenues, to address and properly account
for banking fees;
6. Adopt the attached ordinance decreasing estimated receipts and appropriations in the Water&
Sewer Endowment Gas Lease Fund by $78,157.00 and increasing estimated receipts and
appropriations in the Gas Lease Bank Fees Project of the Lake Worth Gas Lease Capital Project
Logname: 03GAS LEASE CONSULTANT FEES FY2018 CLEANUP Page 1 of 3
Fund by the same amount, from current-year available revenue, to address and properly account for
banking fees.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to make appropriation adjustments to
properly account for the costs of banking and mineral-lease-administration services and for the costs of
trust/asset management services, with each participating fund being allocated its proportionate share of
the total cost based on the relative percentage that mineral revenues for that fund for the year bear to the
total mineral revenues received during the year.
In April 2018, the City Council approved M&C G-19267, which appropriated funds for these fees in the
respective Endowment Gas Lease Funds. Because the banking and administrative services benefit other
funds beyond the endowments, additional steps are needed to complete the funding of these
expenditures. Those steps include recognizing revenue in the appropriate funds for administrative and
banking expenditures. Approval of this M&C is needed to accomplish the necessary actions. The
corrective action of this M&C follows the current Financial Management Policy Statements in which funds
are appropriated in the individual funds.
For FY2019 the transactions have been budgeted in all the respective funds.
In accordance with the terms of the Agreement and the current Financial Management Policy Statements,
the banking fee is proportionately allocated on a monthly basis to the various funds with which mineral
leases are associated. For accounting purposes only, this M&C officially appropriates funds associated
with fees for Fiscal Year 2018 to the various funds for banking, mineral-lease-administration, and
trust/asset-management services provided by Wells Fargo. In accordance with the terms of the
Agreement, Wells Fargo has paid itself throughout the year. Thus, approval of this M&C does not further
reduce the mineral revenues in Fiscal Year 2018.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon adoption of the attached appropriation ordinance, funds will be
available in the Aviation Gas Lease Capital Projects Fund, PACS Gas Lease Capital Projects Fund, and
the Water & Sewer Gas Lease Capital Projects Fund, Municipal Golf Gas Lease Capital Projects Fund
and Lake Worth Gas Lease Capital Project Fund.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID �._ _ ID Year (Chartfield 2)--
FROM
Fund Department ccoun Pro�Dj
ctivity Budget Reference # moun
ID IYear Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (8180)
Originating Department Head: Lynda Johnson (6222)
Logname: 03GAS LEASE CONSULTANT FEES FY2018 CLEANUP Page 2 of 3
Additional Information Contact: Terry Hanson (7934)
Logname: 03GAS LEASE CONSULTANT FEES FY2018 CLEANUP Page 3 of 3