Consider and take action on Ordinance No. 16-20, amending the City of Texas City's Fiscal Year 2015-16 Budget to appropriate funds for the City's contribution to the Gulf Coast Center's Capital Projects Funding Strategy. (Finance)

A budget amendment is needed to appropriate funds for the City's contribution to the Gulf Coast Center's Capital Projects Funding Strategy.

This is for the FY 2016 funding agreed to in the interlocal agreement between the City and Gulf Coast Center (see Resolution No. 16-044).  For  2016, the City will contribute $40,000 to help fund the strategy.  The FY 2017 funding will also be $40,000, which will be included in the City's FY 2017-18 budget.

Funds will come from the General Fund undesignated fund balance.

 

Budget amendment is as follows:

General Fund (101):
Planning Dept. Professional Fees       $40,000.00
Undesignated Fund Balance              ($40,000.00)