HomeMy WebLinkAboutOrdinance 26894-05-2024Ordinance No. 26894-05-2024
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE DFW REVENUE SHARING FUND, IN THE
AMOUNT OF $698,273.00 FOR INCREASED REVENUE COLLECTIONS AND
INCREASING CONTRIBUTIONS TO FUND BALANCE BY THE SAME
AMOUNT; 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 2023-2024 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the DFW
Revenue Sharing Fund, in the amount of $698,273.00 for increased revenue collections and increasing
contributions to fund balance by the same amount.
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 26453-09-2023 and aII 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said prior ordinances and appropriations are hereby expressly repealed.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 AS TO FORM AND LEGALITY:
Assistant City Attorney
ADOPTED AND EFFECTIVE: May 14, 2024
CITY SECRETARY
h A¢s
Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 05/14/24 M&C FILE NUMBER: M&C 24-0407
LOG NAME: 25FY24BUDGETAMENDMENT
SUBJECT
(ALL) Adopt Appropriation Ordinances Increasing Appropriations in Various Public Events Department Funds to Account for Increased Revenues
and Expenses, Amend the Fiscal Year 2024 Adopted Budgets and Amend the Fiscal Years 2024-2028 Capital Improvement Program
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations in the Culture & Tourism Fund in the total
amount of $994,982.00 by increasing $945,882.00 in General Operating & Maintenance category for Other Contractual Services and
increasing $49,100.00 in Transfers and Other category for transfers to capital and by decreasing Contribution to Fund Balance by the same
amount for a net zero change to the operating budget of $55,425,278.00;
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Culture & Tourism Project Finance Zone
Fund in the amount of $3,159,295.00 for additional anticipated revenue collections and increasing budgeted contributions to fund balance by
the same amount for an amended annual operating budget of $15,279,534.00;
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the DFW Revenue Sharing Fund in the
amount of $698,273.00 for increased revenue collections and increasing budgeted contributions to fund balance by the same amount for an
amended annual operating budget of $10,572,425.00; and
4. Amend Fiscal Year 2024 Adopted Budgets and Fiscal Years 2024-2028 Capital Improvement Program.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to adjust the Fiscal Year (FY) 2024 adopted budgets for various funds associated
with the Public Events Department (PED).
To take into account updated increased projections for FY2024 tax collections, the Culture & Tourism Project Finance Zone and DFW Revenue
Sharing Funds are increased, which also increases the proposed contribution to fund balance in each.
Expenditures in the Culture and Tourism Fund operating budget increase by $445,882.00 for the Convention and Visitors Bureau (CVB) FY2023
annual true -up payment (M&C 23-03301City Secretary Contract (CSC) 59692). by $500,000.00 for the second and final CVB payment for the FEI
World Cup Host Agreement (M&C 22-02271CSC 60895) and $49,100.00 in transfers to the Crime Control and Prevention District Capital
Projects Fund for the purpose of funding the Entertainment District Safety Assessment (M&C Log 35ENTERTAINMENT DISTRICT FUNDING).
This transfer to capital also requires an amendment to the Fiscal Years 2024-2028 Capital Improvement Program.
The action in this M&C will amend the Fiscal Year (FY) 2024 Adopted Budgets as approved in connection with Ordinance 26453-09-2023. The
actions in this M&C will also amend the FY 2024-2028 Capital Improvement Program as approved in connection with ordinance 26453-09-2023
and with approval of the attached appropriation ordinance, funding will be available in operating budget of the Culture and Tourism Fund.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION 1 CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinances, funds
will be available in the Culture & Tour Proj Fin Zone, DFW Rev Sharing and Culture & Tourism Funds. Prior to an expenditure being incurred, the
Public Events Department has the responsibility to validate the availability of funds.
SubmittQd for City Manager's Office b . William Johnson 5806
Originating Business Unit Head:
Additional Information Contacts
Michael Crum 2501
Andrea Wright 2502
Pamela Rambo Sexton 2503