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Ord 09-17
Ord 09-17
CITY COMMISSION AGENDA 2
Meeting Date:
04/15/2009
Title:
Consider budget amendment transferring funds from Hotel Motel to TCEDC for landscaping project.
Submitted For:
Cheryl Hunter
Submitted By:
Cheryl Hunter, Finance
Department:
Finance

ACTION REQUEST (Brief Summary)

Consider approval of a request to amend the City of Texas City's fiscal year 2008/2009 budget.

BACKGROUND

In August 2008, Hotel-Motel funds were committed to partially fund the proposed landscaping project from E.F. Lowry Expressway to I-45. The project will be accounted for in the Texas City Economic Development Corporation. Funds in the amount of $200,000 will be transferred from the Hotel-Motel Tax fund to the Texas City Economic Development Corporation, these funds will be an addition to the budget of $200,000 in the TCEDC for a total project budget of $400,000.

ANALYSIS

The budget amendment is as follows:

Hotel-Motel Tax Fund (201):
201-000-59014-Transfer to TCEDC                         $200,000
201-000-79999-Undesignated Budget Balance    <$200,000>

Texas City Economic Development Corporation (801):
801-050-55010-80101-Landscaping Project           $200,000
801-000-49002-Transfer from Hotel-Motel            <$200,000>

ALTERNATIVES CONSIDERED


Fiscal Impact

Attachments