Ord 12-19
Ord 12-19
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 09/02/2020
- Title:
- Consider approval of a request to amend the City of Texas City’s fiscal year 2019-2020 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 2019-2020 budget.
BACKGROUND
A budget amendment is needed to transfer funds to the City's group insurance fund to cover the liability.
ANALYSIS
Budget amendment is as follows:
General Fund:
Transfer to Group Insurance Fund $2,500,000
Unassigned Fund Balance ($2,500,000)
Group Insurance Fund:
Fund Balance $2,500,000
Transfer from General Fund ($2,500,000)
General Fund:
Transfer to Group Insurance Fund $2,500,000
Unassigned Fund Balance ($2,500,000)
Group Insurance Fund:
Fund Balance $2,500,000
Transfer from General Fund ($2,500,000)