HomeMy WebLinkAboutOrdinance 15306~~,
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Ordinance No
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE MUNICIPAL AIRPORTS FUND BY $373,675 AND
DECREASING THE UNRESERVED RETAINED EARNINGS OF THE
MUNICIPAL AIRPORTS FUND BY $373,675 FOR THE PURPOSE OF
REPAYMENT OF GENERAL FUND PRIOR YEAR ADVANCES; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR 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 2002-
2003 and in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Municipal Airports Fund by $373,675 and decreasing the unreserved retained
earnings of the Municipal Airports Fund by~373 675 for the purpose of repayment of General Fund
prior year advances.
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 15184 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed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
f
Assis t ity A ey ~~~
ADOPTED AND EFFECTIVE. " ® ~/ (~
City of Fort T~Vorth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
10/29/02 **G-13782 13AIRPORTS 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO THE MUNICIPAL AIRPORTS FUND AND
TRANSFER TO THE CAPITAL PROJECTS RESERVE FUND
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriation ordinance increasing appropriations in FY2001-2002
by $373,675 00 in the Municipal Airports Fund and decreasing the unreserved retained earnings of
the Municipal Airports Fund by the same amount; and
2. Approve the transfer of $373,675 00 from the Municipal Airports Fund to the Capital Projects
Reserve Fund in FY2002
DISCUSSION
In June 1980, the City entered into an agreement to sell the Greater Southwest International Airport
(GSIA) On May 9, 1979 (M&C G-4167), the City Council approved the establishment of four priorities
for the sale of GSIA listed below'
• Reso{ve all appropriate claims for the federal government (Federal Aviation Administration), and
• Defease outstanding revenue bonds, and
• Repay General Fund advances by transferring proceeds to the Capital Projects Reserve Fund,
and
• Earmark any additional proceeds to go into the Capital Projects Reserve Fund to be utilized
specially for future airport improvements
This transfer is to satisfy the third of these priorities by earmarking these proceeds specifically for
repayment to the General Fund for prior year advances These monies will be recorded into the Capital
Projects Reserve Fund Unspecified project.
On June 6, 2002, the sale proceeds for 2002 were deposited into the Municipal Airports Fund in the
amount of $373,675 00 To make this amount available for use in the Capital Project Reserve Fund, a
supplemental appropriation ordinance is necessary
The remaining final payment is due to the City under this agreement on June 5, 2003, in the amount of
$348,173 40
City of Fort Worth, Texas
Mayor and Council Communication
DATE
10/29/02 REFERENCE NUMBER
**G-13782 LOG NAME
13AIRPORTS PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION TO THE MUNICIPAL AIRPORTS FUND AND
TRANSFER TO THE CAPITAL PROJECTS RESERVE FUND
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the supplemental appropriation ordinance, funds
will be available in the current operating budget, as appropriated, of the Municipal Airports Fund The
cash balance in the Capital Projects Reserve Fund after this transfer will be $1,411,851 However,
based on revenues that are expected to materialize and be posted in Fiscal Year 2001-2002, it is
projected that this fund will have a fiscal year end balance of $1,487,135 00
CB k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1) PE40 538070 0554000 $373,675.00
Charles Boswell 6183 2) GC10 472040 013010001000 $373,675.00
Originating Department Head:
Jim Keyes 8517 (from) APPROVED 10/29/02
2) PE40 538070 0554000 $373,675.00 ORD.# 15306
Additional Information Contact:
Judy Walton 8334