COUNCIL COMMUNICATION
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DATE:
9-16-02
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SUBJECT: FINAL
READING OF ORDINANCE NO. 2002-O-239 Amending the City of Laredo FY 01-02 Airport Construction Fund Budget by appropriating revenues & expenditures of $170,035.00 and transferring an additional amount of $563,130.00 from the Airport Construction Fund to the Airport Operations Budget. The transfer consists of $400,000.00 from additional interest earnings and $163,130.00 from Land Sale Proceeds. |
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INITIATED BY: Cynthia Collazo Assistant City
Manager |
STAFF
SOURCE: Jose L. Flores Airport Director |
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PREVIOUS ACTION: On September 3, 2002, City Council held a Public Hearing and
introduced an Ordinance, and Staff was instructed to proceed. BACKGROUND: The
proposed budget amendment transfers funds from the Airport Construction Fund
into the Airport Operations Budget.
In prior years, interest earned by the Airport Fund was credited to the
Airport Operating Budget. The U.S.
recession of 2001 and the events of September 11, 2001 had a negative impact
on airport revenues. |
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FINANCIAL: See attached sheet.
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COMMITTEE RECOMMENDATION: The Airport Advisory Committee recommends approval. |
STAFF
RECOMMENDATION: That the City Manager be
authorized to implement this budget amendment. |
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Revenues - Fund 433 - Airport Construction |
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Increase / |
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Line Item Name |
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Account Number |
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Original Budget |
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(Decrease) |
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Amended Budget |
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Interest Earnings |
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433-0000-363-1000 |
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407,027 |
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170,035 |
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577,062 |
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170,035 |
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Expenditures - Fund 433 - Airport Construction |
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Increase / |
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Line Item Name |
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Account Number |
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Original Budget |
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(Decrease) |
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Amended Budget |
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Transfer Out: Airport |
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433-3682-597-0242 |
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100,000 |
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400,000 |
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500,000 |
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Garden Landscape Repair |
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433-3682-563-5525 |
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18,000 |
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(18,000) |
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- |
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Reserve Appropriation |
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433-3682-564-9900 |
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207,465 |
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(207,465) |
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- |
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Improvements O/T Buildings |
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433-3682-565-9301 |
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4,500 |
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(4,500) |
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- |
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Buildings |
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433-3687-565-9201 |
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200,834 |
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(163,130) |
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37,704 |
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Transfer Out: Airport |
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433-3687-597-0242 |
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- |
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163,130 |
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163,130 |
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170,035 |
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Revenues - Fund 242 - Airport |
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Increase / |
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Line Item Name |
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Account Number |
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Original Budget |
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(Decrease) |
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Amended Budget |
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Transfer In: Airport Const. |
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242-0000-393-0433 |
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100,000 |
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563,130 |
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663,130 |
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563,130 |
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ORDINANCE NO. 2002-O-239
AMENDING
THE CITY OF LAREDO FY 2001-2002 AIRPORT CONSTRUCTION FUND BUDGET BY
APPROPRIATING REVENUES & EXPENDITURES OF $170,035.00 AND TRANSFERRING AN
ADDITIONAL AMOUNT OF $563,130.00 FROM THE AIRPORT CONSTRUCTION FUND TO THE
AIRPORT OPERATIONS BUDGET. THE TRANSFER
CONSISTS OF $400,000.00 FROM ADDITIONAL INTEREST EARNINGS AND $163,130.00 FROM
LAND SALE PROCEEDS; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the 2001-2002 City of Laredo Annual Budget was approved by City Council on September 17, 2001 by Ordinance No. 2001-O-209;
WHEREAS, the proposed budget amendment will transfer the sum of $563,130.00 from the Airport Construction Fund to the Airport Operations Budget and appropriating like revenues and expenditures, and
WHEREAS, the transfer consists of $400,000.00 from additional interest earnings and $163,130.00 from Land Sale Proceeds, and
WHEREAS, the Airport Director recommends that the City Council approve the proposed budget amendment to the City of Laredo FY 2001-2002 Airport Budget in furtherance of the development of the Laredo International Airport and as a support to the maintenance and operation of the Laredo International Airport, and
WHEREAS, the City Council of the City of Laredo is of the same opinion.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LAREDO THAT:
Section 1: The City Manager be and is hereby authorized to amend the City of Laredo FY 2001-2002 Airport Budget to appropriate revenues & expenditures of $170,035.00 and transferring an additional amount of $563,130.00 from the Airport Construction Fund to the Airport Operations Budget. The transfer consists of $400,000.00 from additional interest earnings and $163,130.00 from Land Sale Proceeds, and authorizing the City Manager to implement said budget amendment.
Section 2: This Ordinance shall become effective upon passage hereof.
PASSED BY THE CITY COUNCIL AND APROVED BY THE MAYOR ON THIS THE ____ DAY OF ________________, 2002.
______________________
ELIZABETH G. FLORES
MAYOR
ATTEST:
______________________
GUSTAVO GUEVARA, JR.
CITY SECRETARY
APPROVED AS TO FORM:
JAIME L. FLORES
CITY ATTORNEY
BY:_____________________
VALERIA M. ACEVEDO
ASSISTANT CITY ATTORNEY