(6)(b)
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 09/16/2020
- Title:
- Amend fiscal year 2019-2020 budget
- Submitted For:
- Laura Boyd
- Submitted By:
- Laura Boyd, Finance
- Department:
- Finance
Information
ACTION REQUEST (Brief Summary)
Consider and take action to amend the City's fiscal year 2019-2020 budget to appropriate funding for design and construction of the Public Safety Training Facility.
BACKGROUND
City Commission, under Resolution No. 20-060, approved GAMMA Construction as the City's Construction Manager At Risk for the public safety training facility and GAMMA has finalized their GMP (Guaranteed Maximum Price). It is shown to be $8,099,122. The group will design and build the various facilities.
Texas City Economic Development Corporation (TCEDC) will fund this project by transferring funds from its unrestricted fund balance to the City's construction fund 401.
Texas City Economic Development Corporation (TCEDC) will fund this project by transferring funds from its unrestricted fund balance to the City's construction fund 401.
ANALYSIS
Budget Amendment is as follows:
TCEDC (Fund 801):
Transfer to Construction Fund 401 $8,099,122
Unrestricted fund balance ($8,099,122)
Construction Fund (Fund 401):
Land and Building Improvements-Training Facility Project $8,099,122
Transfer from TCEDC (Fund 801) ($8,099,122)
TCEDC (Fund 801):
Transfer to Construction Fund 401 $8,099,122
Unrestricted fund balance ($8,099,122)
Construction Fund (Fund 401):
Land and Building Improvements-Training Facility Project $8,099,122
Transfer from TCEDC (Fund 801) ($8,099,122)