Agenda Information Sheet
DEPARTMENT: Finance
CM/ ACM: Bryan Langley
Date: September 16, 2014
SUBJECT
Title
Consider adoption of an ordinance of the City of Denton, Texas, adopting the Fiscal Year 2014-2015 Annual Program of Services (Budget) and the Capital Improvement Program of the City of Denton, Texas, for the fiscal year beginning on October 1, 2014, and ending on September 30, 2015; and declaring an effective date.
Body
BACKGROUND
The City Council received the City Manager's FY 2014-15 Proposed Budget on July 25, 2014. A workshop to present the details of the Budget was conducted on July 31, 2014. Further discussions on the Budget were also held on August 5, August 12, August 19 and September 9. A public hearing on the Proposed Budget was also held on August 19 to solicit citizen feedback. In addition, two public hearings were held on the tax rate on August 19 and September 9. The FY 2014-15 Budget is summarized by fund in the Budget Resource and Expenditure Summary, which is attached to the ordinance.
As a result of discussions with the City Council, the following changes were made to the City Manager's Proposed Budget as summarized below.
Airport Fund
Due to recent negotiations regarding a land purchase for the Airport, staff is proposing to increase the expenditure authority for this fund by $291,296. In addition, projected franchise fee payments ($24,899) by the Airport are also proposed to increase as a result of increased ground lease revenues ($187,546) associated with the above referenced land purchase. Reserves are also planned to be drawn down by an additional $128,649 as a result of the increased expenditures.
Airport Fund:
City Manager's Proposed FY 2014-15 Revenue Budget
$4,251,182
Increased Airport ground lease revenues
$187,546
Increase in use of reserves
$128,649
Total Revised FY 2014-15 Proposed Revenue Budget
$4,567,377
City Manager's Proposed FY 2014-15 Expenditure Budget
$4,251,182
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