HomeMy WebLinkAboutOrdinances (ORDINANCE O-17-2027)-09/19/2017 ORDINANCE 0-17-2027
AN ORDINANCE BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, AMENDING SECTION 3 OF ORDINANCE 0-16-
1989 OF THE FISCAL YEAR 2017 BUDGET AMOUNTS FOR THE
TRANSFER OF GENERAL FUND AND UTILITY FUND OPERATING
SURPLUSES AND EXCESS RESERVES TO THE CAPITAL PROJECTS
FUND AND UTILITY CAPITAL PROJECTS FUND; AND AUTHORIZING
THE CITY MANAGER TO TRANSFER UNSPENT FY 2017 BUDGET
APPROPRIATIONS FROM ONE DEPARTMENT TO ANOTHER IF
EXPENDITURES IN A DEPARTMENT EXCEEDED THE ADOPTED
BUDGET ON SEPTEMBER 30, 2017
j WHEREAS, FY 2017 General Fund and Utility Fund projected year end
revenues are anticipated to exceed budget; and
WHEREAS, General Fund and Utility Fund operating reserves currently
exceed the 90 day minimum required by the City's financial
policies; and
WHEREAS, the City Council desires to provide funding for future general
and utility capital projects; and
WHEREAS, necessary expenditures over the course of a fiscal year may
cause certain departments to either exceed the FY 2017
original budget or conclude the year under-budget, and it is
required that original budget appropriation amounts be
amended accordingly.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT the city manager is authorized to transfer the FY 2017
General Fund operating surplus to the Capital Projects Fund for
future capital projects on September 30, 2017.
Sec. 2. THAT the city manager is authorized to transfer General Fund
reserves in excess of 100 days of FY 2018 budgeted
expenditures to the Capital Projects Fund for future capital
projects on September 30, 2017.
Sec. 3. THAT the city manager is authorized to transfer the FY 2017
Utility Fund operating surplus to the Utility Capital Projects
Fund for future utility capital projects on September 30, 2017.
Ordinance 0-17-2027
Page 2 of 2
Sec. 4. THAT the city manager is authorized to transfer Utility Fund
reserves in excess of 100 days of FY 2018 budgeted
expenditures to the Utility Capital Projects Fund for future
utility capital projects on September 30, 2017.
Sec. 5. THAT, in the event that expenditures in a department exceed
the adopted budget for that department, the city manager is
authorized to transfer all or part of the unencumbered
appropriation balance from one department to another per the
Charter of the City of Colleyville, Section 9.04 (D):
Sec. 6. THAT the effective date of this ordinance shall be September
30, 2017.
AND IT IS SO ORDERED.
The first reading and public hearing being conducted on the 5th day of
September 2017.
The second reading and public hearing being conducted on the 19th day of
September 2017.
APPROVED BY A VOTE OF L" AYES, 0 NAYS, AND () ABSTENTIONS ON
THIS THE 19TH DAY OF SEPTEMBER 2017.
Mayor Richard Newton AYE Mayor Pro Tern Bobby Lindamood AYE
Place 1, Tammy Nakamura ftyy Place 5, Nancy Coplen
Place 3, Kathy Wheat ftyg Place 6, Mike Taylor AYE
Place 4, George Dodson
ATTEST: OF COLLEYVILLE
Christine Loven, TRMC Richard Newton
Assistant City Secretary Mayor
APPROVE !, ' T' FORM AND LEGALITY:
Whitt L. Wyatt
City Attorney