HomeMy WebLinkAboutOrdinance 7948 ORDINANCE NO..
AN ORDINANCE APPROPRIATING REVENUE OF THE CITY OF
FORT WORTH OF AN ADDITIONAL $8,650 FROM THE
GENERAL FUND BALANCE TO NON-DEPARTMENTAL ACCOUNT
NO.90-35 TO COVER RETURN TO THE FEDERAL GOVERNMENT
INTEREST EARNED ON ADVANCES OF GRANT-IN-AID FUNDS;
PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING
ORDINANCES IN CONFLICT HEREWITH AND APPROVING AN
EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That the City Manager of the City of Fort Worth shall be
provided with such revenue as may be secured from various sources
included in Ordinance No. 7787 and in the Budget of the City
Manager; and in addition thereto there is appropriated $8,650
from the General Fund Balance to Non-Departmental Account
No.90-35 to return to the Federal Government interest earned on
advances of grant-in-aid funds.
SECTION 2.
Should any part, portion, section or part of a section of
this ordinance be declared invalid or inoperative or void for any
reason by a court of competent jurisdiction, such decision, opinion
or judgment shall in no way affect the remaining portions, parts,
sections or parts of sections of this ordinance, which provisions
shall be, remain and continue to be in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 7787 ,
but all other ordinances and appropriations for which provision has
been heretofore made are hereby expressly repealed if in conflict
with the provisions of this ordinance.
SECTION 4.
That this ordinance shall take effect and be in full force
and effect from and after the date of its passage, and it is so
ordained.
A�gROVE D AS TO FORM AND LEGALITY:
City Atme
ADOPTED: 19-*71
EFFECTIVE:
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City of Fort Worth, Texas
HERCHERT WIL,S004ONMayor and Council Communication
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DATE REFERENCE suej:F=„ Payment of, Applicable Interest PAGE
NUMBER Earned on FDA Title X Funds of 1
8/7/79 G-4274 a
On May 12, 1975 (M&C ;-2704),, the City Council authorized participation in the
Econ is Development Ad nin str tic n.. it e Job Opportunities Program Grant
Tien grant became the source of Federal funding for two- Stockyards construction
proJ ectsMarine, Creek Bike, ana-Hiwke.-Trail and East,,; Exchange Avenue Improve-
ments,
In, accordance with_EDA guiwdelines., ..an„,independent audit was conducted on this
grant subsequentto, tb,e,.end.,oi,..the,.,program,on.August 31, 1977... The independent
auditors, Arthur young-. Co,.,, submitted-the,-mfinal audit report to the Council
and the ,FDA`on"February, 2%-,1979., 4 a,.,of,.;the findings included in this report
was that,, due ,to. ad an,ce funding-by..the -ZDA, the City had unexpended Federal
funds on hand for a° significant:.perio.d_-°duriµng, the duration of is program.
OMS, Circular Vo,. A-102 requires n1unit „of I acal government, .'m.,,,a�o r '"t . T �he
Fed e alf ent inter ea t eared ,rax v ace f grantiaaidtnnd s"", The staff
calculated the applicable interest„ i to be $8,647.84. This µcalculation
has 'been rvviewed and approved y'Arthur young and Co. and the .FDA.
eca e all interest earned on City investments''during the duration of this grant
has gone to the General -Fund-,Balance. at the close of prior,,fi cal years, a
supplemental appropriation wil.l:, be neces ry to make funs available for disbur-
sement in the current fiscal year.
Recopunendations
1t is recommended that:
1. T'he,City Co nci,l,.approve a. payment_,,,to..,the;,-.;economic Development Administration
of $8,647 84°, interest ned-on .Federal funds.
2. The City Gounci.l ,adopt a supplemental appropriation appropriating $8,650
fro es General, Fund„,,_Balance..to tion-Departmental Account leo. 90-35.
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DEPARTMENT EAO..�..�. G_�� t C7Zi ... ADOPTED � �� � Y Ci2E7ARY
FOR ADINTIONAL INFORMATION
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CONTACT. Judd Bailiff, Ext. 8330 A' E