CITY COUNCIL COMMUNICATION
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Date: 04-01-02 |
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INITIATED BY: Larry Dovalina, City Manager
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STAFF SOURCE: Jose A. Guerra, Interim
General Manager
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PREVIOUS
BOARD ACTION: On
March 11, 2002, item was introduced to increase the Federal Transit
Administration operating grant contribution from $3,500,000.00 to $3,511,
128.00 |
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BACKGROUND: The remaining operating
funds of this grant TX 90 526 were at one point to be re-programmed to
capital outlay expenditures. Current
management recommends utilizing and expensing these funds in the current
fiscal year. The Federal Transit
Administration has confirmed that older funds should be used prior to the use
of newer operating expenses |
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FINANCIAL:
Budget Proposed
Budget Amendment Budget
Transit System
Revenues:
Operating Grant 3,745,308.00 244,936.00 3,990,244.00
Transfer in/Sales Tax 2,488,340.00 (244,936.00) 2,243,404.00
Expenditures Transfer in/Sales Tax 2,488,340.00 (244,936.00) 2,243,404.00
Reserve Appropriation 11,128.00 244,936.00 256,064.00
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LMI BOARD OF
DIRECTORS: Item approved at the LMI Board of
Director’s meeting on March 14,2002. |
STAFF
RECOMMENDATION: Staff recommends adoption of this
ordinance. |
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ORDINANCE NO.
2002-O-075
AUTHORIZING THE CITY MANAGER
TO EXECUTE A BUDGET AMENDMENT APPROPRIATING OPERATIONS FUNDS FROM THE FEDERAL
TRANSIT ADMINISTRATION GRANT NO. TX 90 X526, FOR FISCAL YEAR 2000-01 IN THE
AMOUNT OF $244,936.00 TO BE USED FOR OPERATING EXPENSES IN FISCAL YEAR 2001-02
INCREASING THE FEDERAL CONTRIBUTION
FROM $3,745,308.00 TO $3,990,244.00 AND DECREASING THE SALES TAX MATCH FOR
OPERATING EXPENSES FROM $2,488,340.00 TO $2,243,404.00 AND TRANSFERRING
$244,936.00 INTO SALES TAX RESERVE
APPROPRIATION.
WHEREAS, the FTA grant was accepted and executed on June 18, 2001; and
WHEREAS, the City Council finds it to be in the best
interests of the City of Laredo, Texas, to execute budget amendment in the
amount of $244,936.00 and that funds be allocated to sales tax reserve
appropriation.
NOW THEREFORE,
BE IT ORDAINED BY CITY COUNCIL OF THE CITY OF LAREDO THAT:
Section 1. The City Manager is
authorized to execute a budget amendment appropriating operations funds from
the Federal Transit Administration Grant No. TX90 X526, in the amount of
$244,936.00; and
Section 2. The City’s Federal Transit
Administration Grant contribution is increased from $3,745,308.00 to
$3,990,244.00; and
Section 3. The
City’s sales tax match for transit operating expenses is reduced from
$2,488,340.00 to $2,243,404.00; and
Section 4. The reduced amount of
match of $244,936.00 shall be transferred into sales tax reserve appropriation.
PASSED BY THE
CITY COUNCIL AND APPROVED BY THE MAYOR ON THIS THE _________ DAY OF _________,
2002.
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ELIZABETH
G. FLORES
MAYOR
ATTEST:
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GUSTAVO
GUEVARA, JR.
CITY
SECRETARY
APPROVED
AS TO FORM:
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