To: Mayor and Council
From: Aaron Rector, Interim City Manager
Subject:
Title
PUBLIC HEARING: Consider an ordinance approving certain amendments to the Fiscal Year 2023-24 Annual Operating Budget for the City of Keller, Texas, in accordance with Article VIII, Section 8.13, of the Keller City Charter.
Action Requested:
Conduct a public hearing and consider an ordinance amending the Fiscal Year 2023-24 Annual Operating Budget for the City of Keller, Texas.
Background:
The City Council adopted the Fiscal Year 2023-24 budget on September 19, 2023. Typically, staff brings forth budget amendments during the year as part of the expenditure monitoring process. The amendments usually represent additional expenditures that were not included in the budget and are proposed for consideration by the Mayor and City Council.
The proposed amendments will impact the General Fund, the Keller Development Corporation (KDC) Fund, the Self Insurance Fund, the Parks Improvement Capital Improvement Project Fund, Water-Wastewater Utility Fund, and the Drainage Utility Fund. The amendments are discussed in detail in the Financial Impact section.
Article VIII, Section 8.13 of the Keller City Charter requires a notice and public hearing, along with subsequent Council action, in order to amend (increase) the budget. The required public notice was published in the Fort Worth Star-Telegram on September 03, 2023.
Financial Impact:
The proposed amendments include:
General Fund (100) amendments (Total Increase $ - ):
$375,000 - To be transferred to the Keller Self Insurance Fund based upon available salary savings at the end of the fiscal year
Keller Development Corporation (110) amendments (Total Increase $1,620,616):
$1,620,616 - Increase in expenditures related to a transfer to Parks CIP for the Sports Park Revitalization Project costs.
Keller Self Insurance Fund (129) proposed amendments (Total Increase $600,000):
$600,000 - Increase in revenue related to a transfer-in from the General Fund and Water-Wastewater Utility Fund based upon available actual salary savings at the end of the fiscal year.
Parks Capital Improvement Project Fund (178) amendments (Total Increase $2,620,616).
$1,620,616 - Increase in revenue transfer-ins from the KDC fund of $1,620,616.
$1,000,000 - Increase in revenue related to debt issuance
$2,620,616 - Increase in expenditures related to the Sports Park revitalization project.
Water-Wastewater Utility Fund (200) amendments (Total Increase $ -):
$225,000 - To be transferred to the Keller Self Insurance Fund based upon available salary savings at the end of the fiscal year.
Drainage Utility Fund (400) amendments (Total Increase $49,000):
Increase in expenditures related to MS4 Permit consulting services.
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial