(6)(c)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 08/05/2020
- Title:
- Amend fiscal year 2019-20 budget
- Submitted For:
- Laura Boyd
- Submitted By:
- Laura Boyd, Finance
- Department:
- Finance
Information
ACTION REQUEST (Brief Summary)
Consider approval of a request to amend the City of Texas City's fiscal year 2019-20 budget.
BACKGROUND
A budget amendment is needed to appropriate funds for the Advance Funding Agreement with the Texas Department of Transportation (TxDOT).
As discussed in Resolution No. 20-078, when local governments request additional items be included in roadway work, the local government pays or advances funds to TxDOT for those additional items.
Texas City Economic Development Corporation (TCEDC), in their March 7, 2019 meeting via Resolution No. 19-17, approved funding $1,000,000.00 toward this project.
As discussed in Resolution No. 20-078, when local governments request additional items be included in roadway work, the local government pays or advances funds to TxDOT for those additional items.
Texas City Economic Development Corporation (TCEDC), in their March 7, 2019 meeting via Resolution No. 19-17, approved funding $1,000,000.00 toward this project.
ANALYSIS
The funds will come from TCEDC's unassigned fund balance.
Budget amendment:
Texas City Economic Development Corporation (Fund 801):
Infrastructure Improvements $1,000,000.00
Unassigned Fund Balance ($1,000,000.00)
Budget amendment:
Texas City Economic Development Corporation (Fund 801):
Infrastructure Improvements $1,000,000.00
Unassigned Fund Balance ($1,000,000.00)