HomeMy WebLinkAbout(0007) M&C 21-0724City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/21/21 M&C FILE NUMBER: M&C 21-0724
LOG NAME: 60IMPACT 2021
SUBJECT
(ALL) Adopt Attached Appropriation Ordinances Increasing Estimated Receipts and Appropriations in the Amount of $11,500,000.00 in the Water
Impact Fee Fund and in the Amount of $5,000,000.00 in the Sewer Impact Fee for the Purpose of Transferring to the Water and Sewer Operating
Fund to Pay Debt Associated with Impact Fee -Eligible Projects
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Water Impact Fee Fund in the amount
of $11,500,000.00 from available funds for the purpose of transferring funds from the Water/Wastewater Wholesale Impact Fees and
Water/Wastewater Retail Impact Fees projects (City Project Nos. B20004 and B20005) to the Water and Sewer Operating Fund; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Sewer Impact Fee Fund in the amount
of $5,000,000.00 from available funds for the purpose of transferring funds from the Water/Wastewater Wholesale Impact Fees and
Water/Wastewater Retail Impact Fees projects (City Project Nos. B20004 and B20005) to the Water and Sewer Operating Fund.
DISCUSSION:
During the retail cost of service studies for fiscal year 2021, it was determined that the use of impact fee revenues could lower the amount of water
and sewer service revenue required to balance fiscal year 2021 budgeted revenues and expenditures. While Section 35-70.9(b) of the City Code,
"Use of proceeds of impact fee accounts," prohibits the use of impact fees for operating expenses, those proceeds can be used to pay principal
and interest on debt associated with projects eligible to be funded by impact fees. This transfer of the total amount of $16,500,000.00,
$11,500,000.00 from Water Impact Fee revenue and $5,000,000.00 from Sewer Impact Fee revenue, to the Water and Sewer Operating Fund will
be used to pay principal and interest on existing revenue bonds used to fund impact fee -eligible projects.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that funds are currently available in the Water/Wastewater Wholesale Impact Fees and Water/Wastewater Retail
Impact Fees projects within the Water Impact Fee and the Sewer Impact Fee Funds and upon approval of the above recommendations and
adoption of the attached appropriation ordinances, funds will be available in the Water and Sewer Fund. Prior to an expenditure being incurred, the
Water Department has the responsibility of verifying the availability of funds.
Submitted for City Manager's Office by: Dana Burghdoff 8018
Originating Business Unit Head: Chris Harder 5020
Additional Information Contact: Jan Hale 8438