- Meeting Date:
- 04/15/2009
- Title:
- Consider budget amendment transferring funds from Hotel Motel to TCEDC for landscaping project.
- Submitted For:
- Cheryl Hunter
- Submitted By:
- Cheryl Hunter, Finance
- Department:
- Finance
ACTION REQUEST (Brief Summary)
BACKGROUND
In August 2008, Hotel-Motel funds were committed to partially fund the proposed landscaping project from E.F. Lowry Expressway to I-45. The project will be accounted for in the Texas City Economic Development Corporation. Funds in the amount of $200,000 will be transferred from the Hotel-Motel Tax fund to the Texas City Economic Development Corporation, these funds will be an addition to the budget of $200,000 in the TCEDC for a total project budget of $400,000.
ANALYSIS
The budget amendment is as follows:
Hotel-Motel Tax Fund (201):
201-000-59014-Transfer to TCEDC $200,000
201-000-79999-Undesignated Budget Balance <$200,000>
Texas City Economic Development Corporation (801):
801-050-55010-80101-Landscaping Project $200,000
801-000-49002-Transfer from Hotel-Motel <$200,000>