HomeMy WebLinkAboutIR 7651 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7651
To the Mayor and Members of the City Council October 6, 1992
Subject: STATUS OF SPECIALLY FUNDED CAPITAL PROJECTS FUND
ism FOR ENVIRONMENTAL PROJECTS
At the September 29, 1992 Pre-Council session, Councilman Matson
inquired about the balance of the Specially Funded Capital Projects
Fund for environmental projects (GC35 021021100000) . This informal
report and the attached breakdown of revenues and expenditures is
being provided to the entire Council in response to Mr. Matson's
inquiry.
CURRENT AVAILABLE BALANCE
The Specially Funded Capital Projects Fund was first utilized in
September 1989 as a project fund to receive transfers from the
Capital Projects Reserve Fund for environmental related costs. As
Attachment A shows, a total of $2,056,784.37 has been deposited
into this fund since September 1989.
As of September 30, 1992, the City has expended, or committed to
expend, a total of $1, 603,084 .64 from the fund, leaving a current
balance of $453,699.73.
FUTURE USE OF FUNDS AND UTILIZATION OF NEW ENVIRONMENTAL MANAGEMENT
FUND
During the recent budget deliberations, the City Council directed
staff to create a new "Environmental Management Fund" which would
provide a more accurate accounting of the City's environmental
remediation costs. This fund has initial appropriations of
$800,000 from the revenue generated by the $0.50 environmental
protection fee. Additional revenue from the Texas Water
Commission's UST Reimbursement Fund will be added to this new fund
when received.
After October 1, 1992, staff intends to fund all new environmental
remediation projects from the Environmental Management Fund.
Projects currently being funded from the Specially Funded Capital
Projects fund will continue to be paid from this fund. Once these
projects are complete, any savings from the projects will be
transferred to the Environmental Management Fund.
The $453 ,'699.73 currently available in the Specially Funded Capital
Projects fund will be transferred to the Environmental Management
Fund as needed to fund FY 1992-93 environmental projects. On this
week's City Council agenda is M&C C-13573, which, if approved, will
transfer $178,603 from the Specially Funded Capital Projects Fund
to the Environmental Management Fund to pay for the removal of all
known PCB's in City facilities. Staff will also soon recommend the
transfer of $248,009 to the new fund for FY 1992-93 UST engineering
costs.
ISSUED BY THE CITY MANAGER FORT WORTH,TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7651
October 6,1992
To the Mayor and Members of the City Council 'Page 2 of 2
Subject: STATUS OF SPECIALLY FUNDED CAPITAL PROJECTS FUND
FOR ENVIRONMENTAL PROJECTS
If these two transfers are approved, approximately $27,087 of the
current $453,699.73 will remain in the Specially Funded Capital
Projects fund. These funds will be used to pay for laboratory
costs associated with current UST projects. Any balance remaining
after current projects are completed will be transferred to the
Environmental Management Fund.
I believe this answers Mr. Matson's original question. If any
additional information is required, please contact Rick Hay,
Director of Environmental Management.
k esg tf 11 Submitted
Bob Terrell
City Manager
op,
ISSUED BY THE CITY MANAGER FORT WORTH,TEXAS
ATTACHMENT A
± STATUS OF SPECIALLY FUNDED CAPITAL PROJECTS
FUND --- GC35 021021100000
REVENUES
AMOUNT SOURCE PURPOSE
346,000.00 C-11879 09/19/89 UST ENGINEERING
300,000.00 C-12494 08/28/90 UST ENGINEERING
35,000.00 C-12807 04/16/91 UST ENGINEERING
150,000.00 C-13143 11/19/91 UST ENGINEERING
950,000.00 G-9635 04/28/92 VARIOUS REMEDIATION PROJECTS
167,774.74 C-13502 08/11/92 REHAB. SE SERVICE CENTER UST's
67,239.63 REIMBURS. DEPOSIT REIMBURS. FOR 300 S. LAKE ST.
40,770.00 G-9858 09/29/92 SE SERVICE CENTER ENGINEERING
21056,784.37 TOTAL REVENUES
EXPENSES AND COMMITMENTS
AMOUNT AUTHORIZATION PURPOSE
346,000.00 C-11879 09/19/89 UST ENGINEERING - ENV. MANAGERS, INC.
300,000.00 C-12494 08/28/90 UST ENGINEERING - EMI
34,994.47 C-12807 04/16/91 UST ENGINEERING - EMI
150,000.00 C-13143 11/19/91 UST ENGINEERING - EMI
485,209.20 C-13338 04/28/92 REMOVAL OF 31 UST's
106,050.00 C-13342 04/28/92 ENGINEERING, 31 UST PROJECT - EMI
13,056.23 P-5221 09/17/91 LAB FEES, 31 UST PROJECT
155,774.74 C-13502 08/11/92 REHAB. SE SERVICE CENTER UST'S
12,000.00 C-13488 08/04/92 SE SERV. CENTER ENGINEERING - EMI
11603,084.64 TOTAL EXPENSES/COMMITMENTS
CURRENT AVAILABLE BALANCE _ $2,056,784 .37
1 ,603,084.64
$ 453,699.73
USE OF GC 35 FUNDS FOR UPCOMING PROJECTS
$453,699.73 BALANCE
(178,603.00) PCB REMOVAL
(248,009.00) FY 92-93 UST ENGINEERING - EMI
$ 27,087.73 PROJECTED AVAILABLE BALANCE 10/31/92