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Home My WebLink AboutOrdinance 21502-10-2014 Ordinance No.21502-10-2014 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE AIRPORTS GAS LEASE PROJECT FUND BY $117,805.23; AVIATION ENDOWMENT GAS LEASE FUND BY $117,216.05; CAPITAL PROJECTS RESERVE FUND BY $91,592.77; GENERAL ENDOWMENT GAS LEASE FUND BY $85,991.92; PARK GAS LEASE PROJECT FUND BY $25,732.83; PARK SYSTEM ENDOWMENT GAS LEASE FUND BY $20,568.52; GOLF GAS LEASE CAPITAL PROJECT FUND BY $11,859.85; LAKE WORTH GAS LEASE CAPITAL IMPROVEMENT FUND BY $112,649.33; WATER& SEWER GAS LEASE CAPITAL PROJECTS FUND BY $66,707.42; AND THE WATER & SEWER ENDOWMENT GAS LEASE FUND BY $22,150.06, FROM AVAILABLE FUNDS, SUBJECT TO APPROVAL OF $1,295.68 IN TOTAL EXPENSES BY THE BOARDS OF THE HOUSING FINANCE CORPORATION, LOCAL DEVELOPMENT CORPORATION, AND CENTRAL CITY LOCAL GOVERNMENT CORPORATION, FOR THE PURPOSE REIMBURSING THE GENERAL FUND FOR ADMINISTRATIVE COSTS OF MANAGEMENT OF CITY-OWNED MINERAL INTEREST PROPERTIES; 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 2013-2014 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Airports Gas Lease Project Fund by $117,805.23; Aviation Endowment Gas Lease Fund by $117,216.05; Capital Projects Reserve Fund by $91,592.77; General Endowment Gas Lease Fund by $85,991.92; Park Gas Lease Project Fund by$25,732.83; Park System Endowment Gas Lease Fund by $20,568.52; Golf Gas Lease Capital Project Fund by $11,859.85; Lake Worth Gas Lease Capital Improvement Fund by $112,649.33; Water & Sewer Gas Lease Capital Projects Fund by $66,707.42; and the Water & Sewer Endowment Gas Lease Fund by $22,150.06, from available funds, subject to approval of$1,295.68 in total expenses by the boards of the Housing Finance Corporation, Local Development Corporation, and Central City Local Government Corporation, for the purpose reimbursing the General Fund for administrative costs of management of City-owned mineral interest properties. 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 No. 20952-09-2013 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. Ordinance No.21502-10-2014 Page 1 of 2 SECTION 4. This ordinance shall take effect upon adoption. APPROV D AS TO FORM AND LEGALITY: CITY SECRETARY (�v Denis C.It lroy,Assistant City Attorney Mary J.Ka ADOPTED AND EFFECTIVE: October 14,2014 Ordinance No.21502-10-2014 Page 2 of 2 i City of Fort Worth, Texas Mayor and Council Communication I COUNCIL ACTION: Approved on 10/14/2014 Ordinance`No. 21.502-10-201'4 DATE: Tuesday, October 14, 2014 REFERENCE NO.: G-18332 LOG NAME: 0606062050 GAS OPERATING EXPENSES SUBJECT: i Authorize Transfer of Gas-Related Revenues in the Amount of$673,569.66 from Various Funds to the General Fund for Reimbursement of Expenses Associated with the Management of City-Owned Minerals in 4 Fiscal Year 2014 and Adopt Appropriation Ordinance (ALL COUNCIL DISTRICTS) i RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations for Fiscal Year 2014 in the Airports Gas Lease Project Fund by $117,805.23; Aviation Endowment Gas Lease Fund by$117,216.05; Capital Projects Reserve Fund by $91,592.77; General Endowment Gas Lease Fund by $85,991.92; Park Gas Lease Project Fund by $25,732.83; Park System Endowment Gas Lease Fund by $20,568.52; Golf Gas Lease Capital Project Fund by $11,859.85; Lake Worth Gas Lease Capital Improvement Fund by $112,649.33; Water and Sewer Gas Lease Capital Projects Fund by $66,707.42; and Water and Sewer Endowment Gas Lease Fund by $22,150.06; and I 2. Authorize the transfer of$673,569.66, as detailed below, from gas-related revenue to the General i Fund, subject to approval of$1,295.68 in total expenses by the boards of the Housing Finance Corporation, Local Development Corporation, and Central City Local Government Corporation, to cover administrative costs of management of City-owned mineral interest properties. ,I DISCUSSION: j On December 3, 2013, the City Council adopted Financial Management Policy Statements (FMPS) for the City for Fiscal Year 2014 (M&C G-18067). These policies include a provision to allow the periodic transfer of gas lease revenues to the General Fund to offset budgeted administrative costs in the Planning and Development Department, Law Department, and Financial Management Services Department for the management of the City's mineral assets. Total expenditures of$673,569.66 include the budgeted categories noted below. I Employee Salaries and Benefits $472,522.74 (includes 5.83 approved positions, administration and IT support) Operational Expenses $ 3,578.87 Contractual Services $197,468.05 I Total Expenditures $673,569.66 i Logname: 0606062050 GAS OPERATING EXPENSES Page 1 of 4 i i i a In Fiscal Year 2014, Staff managed the deposit and allocation of more than $22,091,616.10 in bonus and I royalties, an increase of 21 percent compared to Fiscal Year 2013. The overall costs of managing the City's mineral assets for Fiscal Year 2014 increased by 5.6 percent compared to Fiscal Year 2013, however, costs for staff management of the program as a percentage of total revenue received decreased I by 0.5 percent to 3 percent in Fiscal Year 2014 compared to Fiscal Year 2013. In accordance with the FMPS, the allocation of mineral management costs among gas revenue funds should be proportional to the revenue collected in all funds, including the permanent funds, for that reporting period. Staff costs of$673,569.66 are allocated proportionately based on revenues received by each fund as follows: i P240-551929990100 Aviation $117,805.23 i T125-055125099901 Aviation $117,216.05 ' GC10-006060001000 General $ 91,592.77 T127-006127099901 General $ 85,991.92 C282-801929990300 Parks and Community Services $ 25,732.83 T122-080192003371 Parks and Community Services $ 20,568.52 f P243-801929990100 Parks and Community Services - Golf $ 11,859.85 C246-601159990100 Lake Worth $112,649.33 P245-601149990100 Water/Sewer $ 44,508.70 P245-601149990300 Water/Sewer $ 22,198.72 T124-060124099901 Water/Sewer $ 22,150.06 R109-017109005014 Housing Finance Corporation* $ 1,206.47 i R152-0171000 Local Development Corporation* $ 46.00 R158-0171000 Central City Local Government Corporation* $ 43.21 i i The items noted with an asterisk (*) are the allocation of costs to the Housing Finance Corporation, Local Development Corporation, and Central City Local Government Corporation. These funds will be I transferred to the General Fund upon approval of each board for its respective share. Although the actual transfers are taking place during Fiscal Year 2015, they will be accounted for in Fiscal Year 2014 since that is the period for which expenses are being reimbursed. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, of various funds. Logname: 0606062050 GAS OPERATING EXPENSES Page 2 of 4 TO Fund/Account/Centers FROM Fund/Account/Centers 1) P240 446200 551929990100 $117,805.23 2) P240 538070 551929990100 $117,805.23 1) P240 538070 551929990100 $117,805.23 Q T125 538070 055125099901 $117,216.05 1)T125 446200 055125099901 $117.216.05 2) GC10 538070 006060001000 $91.592.77 1)T125 538070 055125099901 $117,216.05 2) T127 538070 006127099901 $85,991.92 1) GC10 446200 006060001000 $91,592.77 2) C282 538070 801929990300 $25.732.83 1) GC10 538070 006060001000 $91,592.77 2) T122 538070 080192003371 $20,568.52 1) T127 446200 006127099901 $85.991.92 2) P243 538070 801929990100 $11.859.85 1)T127 538070 006127099901 $85,991.92 2) C246 538070 601159990100 $112,649.33 1) C282 446200 801929990300 $25,732.83 2) P245 538070 601149990100 $44.508.70 1) C282 538070 801929990300 $25,732.83 2) P245 538070 601149990300 $22.198.72 I 1)T122 446200 080192003371 $20,568.52 2) T124 538070 060124099901 $22,150.06 1) T122 538070 080192003371 $20,568.52 2) R109 538070 017109005014 $1,206.47 1) P243 446200 801929990100 $11,859.85 2) R152 538070 0171000 $46.00 1) P243 538070 801929990100 $11,859.85 2) R158 538070 0171000 $43.21 1) C246 446200 601159990100 $112,649.33 I 1) C246 538070 601159990100 $112,649.33 1) P245 446200 601149990100 $44,508.70 1) P245 538070 601149990100 $44,508.70 1) P245 446200 601149990300 $22,198.72 1) P245 538070 601149990300 $22,198.72 1)T124 446200 060124099901 $22,150.06 1)T124 538070 060124099901 $22,150.06 2) GG01 472240 0062050 $117,805.23 2) GG01 472125 0062050 $117,216.05 2) GG01 472010 0062050 $91,592.77 2) GG01 472127 0062050 $85,991.92 f 2) GG01 472282 0062050 $25,732.83 2) GG01 472122 0062050 $20,568.52 2) GG01 472243 0062050 $11,859.85 2) GG01 472246 0062050 $112,649.33 2) GG01 472245 0062050 $66,707.42 2) GG01 472124 0062050 $22,150.06 I 2) GG01 472109 0062050 $1,206.47 2) GG01 472152 0062050 $46.00 2) GG01 472158 0062050 $43.21 I I CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) I i i Logname: 0606062050 GAS OPERATING EXPENSES Page 3 of 4 i 0 Randle Harwood 6101 Ori iinatina Department Head: ( ) Jean Petr (8367) Additional Information Contact: Alphonsine M. Kabasele (8183) i i i i II i i I i i i i i I i I i i I I A i i i Logname: 0606062050 GAS OPERATING EXPENSES Page 4 of 4