HomeMy WebLinkAboutOrdinance 12408Ordinance No. ~~ ~ D
AN ORDINANCE APPROPRIATING $9,000,000 00 TO THE GENERAL FUND, AND DECREASING THE
UNRESERVED, UNDESIGNATED GENERAL FUND BALANCE BY THE SAME AMOUNT FOR THE
PURPOSE OF PROVIDING FINANCING FOR THE CAPITAL PROJECTS RESERVE FUND; PROVIDING
FOR A SEVERABII,ITY CLAUSE, MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES
AND REPEALING ALL 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 the Fiscal Year 1995-96 and in the Budget of the City
Manager, there shall also be increased appropriations in the General Fund, in the amount of $9,000,000 00; thereby decreasing the
unrestricted, undesignated Fund Balance by the same amount, for the purpose of providing financing for the Capital Projects Reserve
Fund.
SECTION 2.
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 judgement 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. 120'74 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 and be in full force and effect and after the date of its passage, and it is so ordained.
APPROVED AS~O FORM AND LEGALITY
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Date
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Adopted
Effective
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City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
02/20/96 13CPRF 1 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION ORDINANCE TRANSFER OF FUNDS FROM
GENERAL FUND TO THE CAPITAL PROJECTS RESERVE FUND
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached supplemental appropriations ordinance increasing appropriations in the
General Fund by 59,000,000 and decreasing the unreserved, undesignated fund balance
by the same amount, and
2 Authorizing the transfer of 59,000,000 from the General Fund to Capital Projects Reserve
Fund
DISCUSSION
On November 21, 1995, the City Council adopted a set of Financial Management Policy
Statements which included a requirement that "after completion of the annual audit, if the
undesignated fund balance exceeds 10 percent, the excess shall be designated for subsequent
year capital expenditures or transferred to the Capital Projects .Reserve Fund " On the basis of
the recently completed audit and current re-estimates of revenues and expenditures, the
unreserved, undesignated fund balance of the General Fund, as of September 30, 1995, was
projected to be 539,556,667 With a current re-estimate of 5262,535,808, the Financial
Management Policy Statement requires that 526,253,581 be maintained in the General Fund
undesignated fund balance Strict adherence to Council policy would required the transfer of
513,303,086 to the Capital Projects Reserve Fund However, unanticipated changes in revenue
and expenditure patterns could cause the General Fund fund balance to fall below the 10 percent
target Therefore, it is recommended that only 59,000,000 be transferred at this time
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City of Fort Wordy Texas
Mayor and Council Communication
DATE
02/20/96 REFERENCE NUMBER LOG NAME
13CPRF PAGE
2 of 2
SUBJECT SUPPLEMENTAL APPROPRIATION ORDINANCE TRANSFER OF FUNDS FROM
GENERAL FUND TO THE CAPITAL PROJECTS RESERVE FUND
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that upon the adoption of the attached appropriations
ordinance, the funds required for this transfer will be available in the current operating budget
of the General Fund After completion of this transfer, the unreserved, undesignated fund
balance of the General Fund will be 539,556,667 The cash balance of the Capital Projects
Reserve Fund after this transfer will be 59,724,170
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
1) GG01 538070 0909103 $9,000,000.00
Charles Boswell 8511 2) GC10 472001 013010001000 $9,000,000.00 pPPROVE~
Originating Department Head: ~~~~/ nol 1~(~~~
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Bridgette Garrett 8518 (from) '~~
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2) GGO1 537070 0909103 $9,000,000.00
For Additional Information ~,W„~ ~~'~~
Contact: CI4~ ~'~~ ~ ~`o
Ctty O! Fort ~Yot~.7e~s
Bridgette Garrett 8518
Printed on Regded Paper Adopted Ordinance No.