(7)(a)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 03/07/2018
- Title:
- Amend fiscal year 2017-2018 budget
- Submitted For:
- Laura Boyd
- Submitted By:
- Laura Boyd, Finance
- Department:
- Finance
Information
ACTION REQUEST (Brief Summary)
Consider and take action on Ordinance 18-07, amending the City's fiscal year 2017-2018 budget to appropriate funds for the Texas Avenue construction project.
BACKGROUND
The City and Galveston County have entered into an interlocal agreement, referenced in Resolution 18-019, in which the City of Texas City is responsible for a funding match not to exceed $1,000,000.
ANALYSIS
The funding will come from Certificates of Obligation that were issued in 2015 and are recorded in the City's construction fund 411.
Budget Amendment:
Construction Fund 411
Street Improvements Expense $1,000,000.00
Unassigned Fund Balance ($1,000,000.00)
Budget Amendment:
Construction Fund 411
Street Improvements Expense $1,000,000.00
Unassigned Fund Balance ($1,000,000.00)