Agenda Information Sheet
DEPARTMENT: Finance
ACM: Bryan Langley
Date: September 20, 2016
SUBJECT
Title
Consider adoption of an ordinance of the City of Denton, Texas amending the Fiscal Year 2015-2016 Budget and Annual Program of Services of the City of Denton to allow for adjustments to the Electric Fund of twenty three million ($23,000,000) for the purpose of making initial payments for construction of a quick start electric generation facility; declaring a municipal purpose; providing a severability clause, an open meetings clause and effective date.
Body
BACKGROUND
This amendment is no longer necessary due to contract changes for the construction of a quick start electric generation facility. No initial payments will be due until October.
PRIOR ACTION/REVIEW (Council, Boards, Commissions)
On September 12, 2016, the Public Utilities Board recommended this item be forwarded to the City Council for consideration.
STRATEGIC PLAN RELATIONSHIP
The City of Denton’s Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Organizational Excellence
Related Goal: 1.1 Manage financial resources in a responsible manner
EXHIBITS
1. Ordinance
Respectfully submitted:
Chuck Springer, 349-8260
Director of Finance
Prepared by:
Nancy Towle
Budget Manager