Title
Approving an ordinance on first and final reading with the caption reading: An ordinance of the City of Pflugerville, Texas, adopting the fourth amendment to the FY22 Budget for the City of Pflugerville; and providing an effective date.
Summary
Per City Charter, section 9.04 (a), City Council may approve supplemental appropriations where there are revenues available for appropriation in excess of those estimated in the budget.
Funds that exceeded annual adopted budget require an amendment to appropriate funding in the amount of the expenditures in excess. The following funds require an amendment to cover the amount over budget. Each fund has revenues collected to fund the expenditures.
Debt Service Fund: The amount of debt service payments are estimated for the bond issuances that occurred at the end of the fiscal year. The revenue received covers the total bond payments made in FY22. Total budget amendment needed $236,958.
Hotel Occupancy Fund: We had two new hotels open during FY22 which increased revenue from hotel occupancy taxes. As the revenue increases, the amount of the economic development payment to the Marriott also increases. The total amendment needed $233,256.
Public, Educational, & Governmental (PEG): The renovations to the Municipal Court area had equipment purchases from PEG that were not included in the budget. The PEG Fund amendment needed $90,184.
Tax Increment Reinvestment Zone (TIRZ): Some accounting entries for City Administrative Payments, and City Service Payments were recognized in FY22. We also had a developer reimbursement approved by the TIRZ board that was not included in the adopted budget. The TIRZ Fund total amendment needed $65,639.
Prior City Council Action
Budget Adoption FY22 August 24, 2021
Amendment #1: February 8, 2022
Amendment #2 May 10, 2022
Amendment #3 May 28, 2022
Deadline for City Council Action
January 10, 2022 to close FY22 and provide budget ordinance for audit.
Funding Expected: Revenue __ Expenditure _x_ N/A __
Budgeted Item: Yes __ No _x_ N/A __
Amount: _by fund listed above_______
1295 Form Required? Yes __ No _x_
Legal Review Required: N/A __ Required _x_ Date Completed: __12/30/2022_________
Supporting documents attached:
Budget Amendment Ordinance
Exhibit A
Recommended Action
Approval of an ordinance of the City of Pflugerville, Texas, adopting the fourth amendment to the FY22 Budget for the City of Pflugerville; and providing an effective date