HomeMy WebLinkAboutOrdinance 21961-11-2015 ORDINANCE NO.21961-11-2015
AN ORDINANCE INCREASING THE APPROPRIATIONS IN THE CULTURE
AND TOURISM FUND IN THE AMOUNT OF $3,085,600 FROM AVAILABLE
FUNDS AND DECREASING THE UNASSIGNED FUND BALANCE BY THE
SAME AMOUNT, FOR THE PURPOSE OF FUNDING A TRANSFER TO THE
CULTURE & TOURISM CAPITAL PROJECTS FUND; 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 2015-2016 in the
Budget of the City Manager,there shall also be increased appropriations in the Culture and Tourism Fund in
the amount of$3,085,600 from available funds and decreasing the unassigned fund balance by the same
amount for the purpose of funding a transfer to the Culture&Tourism Capital Projects Fund.
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. 21873-09-2015 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of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
Dens, cElroy y Assistant City Attorney a se , ity Secretary
ADOPTED AND EFFECTIVE:November 3,2015
Ordinance No. 21961-11-2015
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 11/3/2015 - Ordinance No. 21961-11-2015 & 21962-11-
2015
DATE: Tuesday, November 03, 2015 REFERENCE NO.: G-18601
LOG NAME: 25TRANSFER FUNDS FY2016
SUBJECT:
Authorize Transfers for the Multi-Purpose Arena Project Among the Culture and Tourism Fund, Culture and
Tourism Capital Projects Fund, Culture and Tourism Legacy Capital Projects Fund and Culture and
Tourism Debt Service Fund and Adopt Appropriation Ordinances (COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance increasing estimated receipts and appropriations in the Culture and
Tourism Fund in the amount of$3,085,600.00 and decreasing the unassigned fund balance by the same
amount for purposes of making a transfer to the Culture and Tourism Capital Projects Fund;
2. Authorize the transfer of$3,085,600.00 from the Culture and Tourism Fund to the Culture and Tourism
Capital Projects Fund to make funds available in support of the Multi-Purpose Arena Project;
3. Adopt the attached appropriation ordinance increasing receipts and appropriations in the Culture and
Tourism Capital Projects Fund in the amount of$3,085,600.00, from available funds, for the Multi-Purpose
Arena Project;
4. Authorize the transfer of$1,178,194.00 in previously appropriated funds from the Culture and Tourism
Legacy Capital Projects Fund to the Culture and Tourism Debt Service Fund for the purpose of paying a
portion of the Fiscal Year 2016 debt in accordance with the adopted Fiscal Year 2016 budget.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to allocate funds in accordance with the
adopted preliminary funding plan for the Venue Project that includes the Multi-Purpose Arena adjacent to
the Will Rogers Memorial Center (WRMC) (Resolution No. 4498-08-2015) and to complete other related
fund clean-up. The funding plan anticipated initial funding and on-going contributions for the Arena.
This M&C is the counterpoint to one adopted on September 29, 2015 (M&C G-18578). In that M&C, the
City Council authorized initial transfers and allocations of funds in the Culture and Tourism Capital
Projects Fund, totaling $9,113,650.00, in support of the Multi-Purpose Arena Project.
A substantial portion of the funding that was available for transfer in the September M&C resulted from the
surplus funds from a past sale of Certificates of Obligation (COs) being reprogrammed to cover costs that
were initially budgeted from other funding sources, thereby freeing up those original funding sources for
use on the Arena Project. As noted in M&C G-18578, a total of approximately $7.7 million in CO surplus
was originally identified. Approval of this M&C would authorize the transfer of the last $1,178,194.00 in
Logname: 25TRANSFER FUNDS FY2016 Page 1 of 2
CO surplus to the Culture and Tourism Debt Service Funds to make a portion of the Culture and Tourism
debt service payments during FY2016 in accordance with this year's adopted budget (Recommendation
4). Once this transfer has been completed, Staff will be able to close the Culture and Tourism Legacy
Capital Projects Fund.
The remaining recommendations in this M&C would appropriate and transfer$3,085,600.00 in surplus
fund balance from the Culture and Tourism Fund (operating fund) to the Culture and Tourism Capital
Projects Fund for use on the Arena Project. With the allocation of these dollars, appropriated funds in the
Culture and Tourism Capital Projects Fund available for the Arena Project will total $12,199,250.62,
consistent with the funding plan in the Resolution.
The other FY2016 action noted in the funding plan is a transfer of$1.3 million. That transfer was included
in the adopted FY2016 budget and no further City Council action will be required for that money to be
moved.
The Multi-Purpose Arena Project is physically located in COUNCIL DISTRICT 7, but will serve Fort Worth
residents in ALL COUNCIL DISTRICTS.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendations,
funds will be available in the current capital projects budget, as appropriated of the Culture and Tourism
Capital Projects Fund.
FUND IDENTIFIERS (FIDs):
TO
Fund Department Accoun Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
1 20101 0241000 5900010 $3,085,600.06
30101 0240450 4920101 C40004 00000 C00780 2016 $3,085,600.00
3 30101 0240450 4920101 C40004 00000 C00780 2016 $3,085,600.00
40101 0132000 5939802 $1,178,194.00
FROM
Fund Department Accouni Project Program Activity Budget Reference # ;Amount
ID ID Year Chartfield 2 2 20101 0241000 5900010 $ 5,600.00
3)1201011 0241000 5900010 $3,085,600.00
4)1392011 0240450 5900015 C99901 00000 000600 2016 $1,178,194.00
CERTIFICATIONS:
Submitted for City Manager's Office by_ Susan Alanis (8180)
Originating Department Head: Kirk Slaughter (2501)
Additional Information Contact: Betty Tanner (2502)
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