Item 6EM E M O R A N D U M
November 20, 2020
To: Shana Yelverton, City Manager
From: Sharen Jackson, Chief Financial Officer
Subject: Approve Ordinance No. 1235A, 2nd Reading, Approving and
adopting the revised Annual Budget for Fiscal Year 2021.
Action
Requested: Approval of Ordinance 1235A, adopting the revised Annual
Budget for Fiscal Year 2021.
Background
Information: The purpose of this item is to seek City Council consideration
and adoption of the revised Fiscal Year 2021. On November
17th City Council approved Resolution 20-051, authorizing the
creation of the Southlake Business Relief Grant Program. As
previously discussed, the City’s adopted budget must be
revised to incorporate the Business Relief Grant program.
The program will be funded through the Economic
Development Investment Fund.
Financial
Considerations: The purposed budget adjustment increases expenditures by
$1,000,000 in the Economic Development Investment Fund to
incorporate the funding for the Business Relief Grant.
Strategic Link: F1: Adhere to financial management principles and budget
Citizen Input/
Board Review: Public hearing scheduled for December 1st
Legal Review: N/A
Alternatives: Deny or direct staff to modify revised budget figures for FY
2021
Supporting
Documents: Ordinance No. 1235A
Fiscal Year 2020 Economic Development Investment Fund
Revised Budget and All Fund Summary (Exhibit A)
Staff
Recommendation: Approval of Ordinance No. 1235A
Item 6E
ORDINANCE NO. 1235A
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
SOUTHLAKE, TEXAS, REVISING THE BUDGET FIGURES
FOR FISCAL YEAR 2021, BEGINNING OCTOBER 1, 2020,
AND TERMINATING SEPTEMBER 30, 2021, AND MAKING
APPROPRIATIONS FOR EACH DEPARTMENT, PROJECT
AND ACCOUNT; REPEALING CONFLICTING
ORDINANCES; PROVIDING A SAVINGS AND
SEVERABILITY CLAUSE; AND DECLARING AN
EFFECTIVE DATE.
WHEREAS, the City Manager has prepared a revision of certain figures in the 2021
budget which was approved by City Council with Ordinance No. 1235 on September 15,
2020 and submitted same to the City Council; and,
WHEREAS, a copy of said amendment is attached hereto as Exhibit "A" and
incorporated herein for all purposes; and
WHEREAS, the City Council has studied the Budget Amendment and has
determined that the Budget Amendment attached hereto is in the best interest of the City.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF SOUTHLAKE, TEXAS:
Section 1. That all of the above premises are found to be true and correct and
are incorporated into the body of this Ordinance as if copied in their entirety.
Section 2. That the revised figures, prepared and submitted by the City
Manager for the 2021 budget, be, and the same are hereby, in all things, approved and
appropriated, and any necessary transfers between accounts and departments are hereby
authorized, approved, and appropriated.
Section 3. That the Budget Amendment attached hereto as Exhibit “A” and
incorporated herein for all purposes is adopted for the Fiscal Year beginning October 1,
2020 and ending September 30, 2021; and there is hereby appropriated from the funds
indicated such projects, operations, activities, purchases and other expenditures as
proposed in the Budget.
Section 4. That the City Manager has determined that there are necessary
revenue and expenditure adjustments to those estimated in the 2021 approved budget.
Section 5. That any and all ordinances, resolutions, rules, regulations, policies
or provisions in conflict with the provisions of this Ordinance are hereby repealed and
rescinded to the extent of conflict herewith.
Section 6. If any section, article, paragraph, sentence, clause, phrase or word
in this Ordinance, or application thereto any person or circumstances is held invalid or
unconstitutional by a Court of competent jurisdiction, such holding shall not affect the
validity of the remaining portions of this Ordinance; and the City Council hereby declares
it would have passed such remaining portions of this Ordinance despite such invalidity,
which remaining portions shall remain in full force and effect.
Section 7. That the necessity of adopting and approving a proposed budget for
the next fiscal year as required by the laws of the State of Texas requires that this Ordinance
shall take effect immediately from and after its passage, and it is accordingly so ordained.
PASSED AND APPROVED on first reading this _____ day of
_________________, 2020.
___________________________
Laura Hill, Mayor
ATTEST:
__________________________
Amy Shelley
City Secretary
PASSED AND APPROVED ON second reading this _____ day of
_________________, 2020.
__________________________
Laura Hill, Mayor
ATTEST:
__________________________
Amy Shelley
City Secretary
APPROVED AS TO FORM:
__________________________
City Attorney
Date:_____________________
Adopted:__________________
Effective:________________
GENERAL FUND
Economic Investment Fund
$ Increase/
2019 2020 2021 2021 (Decrease)
Actual Estimated*Adopted Amended Adopted
REVENUES
Interest 45,507 29,110 30,000 30,000 0
Total Revenues $45,507 $29,110 $30,000 $30,000 $0
EXPENDITURES
Operations $0 $0 $50,000 $1,050,000 1,000,000
Capital 0 0 0 0 0
Total Expenditures $0 $0 $50,000 $1,050,000 $1,000,000
Net Revenues $45,507 $29,110 ($20,000)($1,020,000)($1,049,110)
Transfer from other funds $150,000 $1,150,000 $150,000 $150,000
Transfer to other funds ($0)($0)($0)($0)
Total Other Sources/(Uses)$150,000 $1,150,000 $150,000 $150,000
Beginning Fund Balance $2,237,211 $2,432,718 $3,611,828 $3,611,828
Ending Fund Balance $2,432,718 $3,611,828 $3,741,828 $2,741,828
*Estimated fiscal year end totals including an additional $1,000,000 transfer from General Fund
2021 Amended Budget
Special Special Technology
Special Revenue Revenue Special Storm Strategic Facility Infrastructure/Economic Commercial Hotel Court Court Red Light
General Utility Debt Service Revenue Park Parks/Revenue TIF Operating Crime Control Vehicle Water Initiative Maintenance Security Investment Vehicle Occupancy Security Technology Camera Public Art Recycling
Fund Fund Fund Reforestation Dedication Recreation Library Fund District Fund Replacement District Fund Fund Fund Fund Enforcement Fund Fund Fund Fund Fund Fund CEDC Funds SPDC Funds Total
Projected Revenues $46,433,915 $30,793,800 $5,933,283 $5,500 $95,000 $32,250 $4,125 $9,964,195 $1,787,330 $118,000 $1,575,800 $35,000 $50,000 $455,000 $30,000 $25,700 $402,320 $23,500 $24,500 $5,000 $5,000 $6,500 $7,637,734 $7,350,824 $112,794,276
Projected Expenditures $42,513,904 $25,805,420 $7,698,036 $25,000 $0 $72,500 $8,000 $10,447,383 $1,742,030 $2,233,000 $629,335 $150,000 $660,510 $805,000 $1,050,000 $153,374 $846,912 $59,241 $37,830 $157,705 $68,100 $3,000 $6,627,167 $4,382,912 $106,176,360
Net Revenues $3,920,011 $4,988,380 ($1,764,753)($19,500)$95,000 ($40,250)($3,875)($483,188)$45,300 ($2,115,000)$946,465 ($115,000)($610,510)($350,000)($1,020,000)($127,674)($444,592)($35,741)($13,330)($152,705)($63,100)$3,500 $1,010,567 $2,967,912 $6,617,917
Total Other Sources (Uses)($3,809,008)($2,331,752)$174,609 $0 $0 $0 $0 $0 ($71,493)$500,000 ($1,487,641)($510,000)$1,000,000 $1,500,000 $150,000 $150,000 ($16,093)$0 $0 $0 ($100,000)$0 ($305,269)($2,293,353)($7,450,000)
Estimated Fund Balance/
Working Capital 9/30/20 $10,515,542 $16,535,282 $4,654,735 $30,732 $1,242,256 $133,492 $9,653 $4,619,401 $4,148,392 $7,794,280 $1,295,910 $4,535,801 $8,790,497 $5,909,131 $3,611,828 $63,526 $1,608,736 $391,024 $281,214 $691,036 $496,991 $69,853 $9,022,098 $10,396,099 $96,847,509
Estimated Fund Balance/
Working Capital 9/30/21 $10,626,545 $19,191,910 $3,064,591 $11,232 $1,337,256 $93,242 $5,778 $4,136,213 $4,122,199 $6,179,280 $754,734 $3,910,801 $9,179,987 $7,059,131 $2,741,828 $85,852 $1,148,051 $355,283 $267,884 $538,331 $333,891 $73,353 $9,727,396 $11,070,658 $96,015,425
AMENDED BUDGET 2021
ALL FUNDS SUMMARY