An amendment to the City of Texas City's Fiscal Year 2015-16 Budget is needed to commit funds in the Texas City Dike Fund (fund 279) for dike road maintenance.

After the Texas City Dike was repaired from Hurricane Ike damage, Galveston County turned over ownership of Dike Road to the City of Texas City plus $3,000,000 to be used for future road maintenance.

To ensure the $3,000,000 is used for road maintenance, these funds need to be committed by City Commission for this purpose. 

According to GASB-54, committed fund balances cannot be used for other purposes unless approved by City Commission.

Budget amendment is as follows:

Texas City Dike Fund (fund 279):
Committed Fund Balance      $3,000,000.00
Unassigned Fund Balance   ($3,000,000.00)