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(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.

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)
 

ALTERNATIVES CONSIDERED


Fiscal Impact