CC MEETING: July 16, 2024
DATE: July 10, 2024
TO: Erin Rinehart, City Manager
FROM: Melissa Everett, Finance Director
Diana Vaughn, Chief Financial Officer
Chrystal Davis, Assistant City Manager
Title
Consider An Ordinance Amending The Capital Budgets And Operating Budgets For Fiscal Year October 1, 2023, Through September 30, 2024.
Body
BACKGROUND:
The City of Carrollton approved its annual Operating and Capital Budgets on September 12, 2023. The budget consists of $287,678,502 operating funds and $120,935,550 capital funds, each adopted independently of each other and requires council approval to make changes to the planned expenditures.
The May 28, 2024, straight-line wind event activated an emergency response amongst city resources. This transfer provides for additional needed funding to the General Facilities Capital Account to pay for the services related to response and ensure proper recording of the event.
A budget transfer is needed for the design of the North Texas Emergency Communication Center’s (NTECC) new facility. This transfer provides for needed funding in the General Facilities Capital Account to pay for architectural services.
A budget transfer will increase Parks Capital Fund to offset the increased construction costs of the Dudley Branch Trail. To maintain proper financial reporting, staff are proposing to transfer budget from one capital fund to another capital fund to ensure that the City provides funding for municipal purposes.
Carrollton Fire Rescue cancelled a previously issued purchase order for an ambulance due to poor reviews with the most recently purchased chassis. To maintain proper financial reporting, staff are proposing a budget amendment that will decrease the fund balance from the General Fleet Replacement Budget to allow for the purchase of a new ambulance and chassis.
Financial Implications
This budget amendment will make the following amendment:
• In the General Fund, decrease the fund balance by increasing the transfers out by a one-time transfer of $1,500,000 to the General Facilities Capital Fund.
• In the General Facilities Capital Fund, increase the sources of revenue by $1,500,000 through a non-recurring transfer from the General Fund.
• In the General Facilities Capital Fund, increase the uses of funds by $1,500,000.
• In the General Facilities Capital Fund, decrease the fund balance by $6,300,000 by a one-time transfer to the Parks Capital Fund.
• In the Parks Capital Fund, increase the sources of funds by $6,300,000 through a non-recurring transfer from the General Facilities Capital Fund.
• In the Parks Capital Fund, increase the uses of funds by $6,300,000.
• In the General Fleet Replacement Fund, decrease the Fund Balance by $318,764 by increasing the recurring uses of fund by $318,764.
Staff Recommendations:
Staff recommends adopting the attached Ordinance amending the City’s Approved Annual Capital Budget and Operating Budget.