Agenda No. 3.
CITY COUNCIL MEMORANDUM
| City Council Meeting: | October 17, 2023 |
| Department: | Public Works |
| Subject: | Resolution 23-R-109 - Authorizing a Schertz/Seguin Local Government Corporation (SSLGC) Budget Amendment for Fiscal Year 2022-23. (B. James/L. Busch) |
BACKGROUND
This budget amendment is an end of year budget amendment. There are a few projects that were budgeted in the Operating Fund but will not be completed by the end of the fiscal year. These funds will be transferred to the Future Development Fund and to the Repair/Replacement Fund to continue these projects into Fiscal Year 2024. In addition, a CIP update was budgeted in the Operating Fund for the current fiscal year. These funds are more appropriately funded out of the Impact Fee Fund. Finally, two projects that were started in prior fiscal years have a few more expenses related to those projects. The projects include Cathodic Protection project as well as the Fiber Installation project. The projects are being funded from Retained Earnings in the Repair/Replacement Fund.
The SSLGC Board approved this action at their regularly scheduled board meeting on September 21, 2023.
The SSLGC Board approved this action at their regularly scheduled board meeting on September 21, 2023.
GOAL
Approve the SSLGC end of year FY2022-2023 Budget Amendment.
COMMUNITY BENEFIT
The City of Schertz is a member of the SSLGC. It is through the SSLGC that the City provides water to its citizens. Approval of the budget amendment will ensure that the citizens of Schertz will continue to receive this vital resource and service.
SUMMARY OF RECOMMENDED ACTION
Staff recommends approval of the Resolution for the Budget Amendment to the FY2022-2023 Annual Budget.
FISCAL IMPACT
This budget amendment is based on reallocated SSLGC funds.
RECOMMENDATION
Staff recommends approval of Resolution 23-R-109.