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File #: 19-057    Name:
Type: Report Status: Consent Item Ready
File created: 1/3/2019 In control: City Council
On agenda: 1/14/2019 Final action:
Title: Approval of a budget amendment in the FY 2017-18 Debt Service Fund.
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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Presenter/Contact

Presenter

Jared Werner, Chief Financial Officer

Contact Info

(830) 221-4395 - jwerner@nbtexas.org

 

Subject Header

SUBJECT:

Title

Approval of a budget amendment in the FY 2017-18 Debt Service Fund.

 

Body

BACKGROUND / RATIONALE:

In the City’s continuing effort for financial transparency in addition to our enhanced account reconciliation efforts, the Finance Department is adjusting an entry made in FY 2014-15 to the interest payment account in the Debt Service Fund. The adjustment will be made in FY 2017-18 and will require a budget amendment to comply with current financial policies. Therefore, the following budget amendment is recommended for City Council consideration

 

Budget Amendment - Debt Service Fund 

 

Increase: Debt Service Expenditures                      $59,288

 

ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:

 

 

 

 

 

FISCAL IMPACT:

There are sufficient funds available in the Debt Service Fund to approve the amendment as described above.

 

Recommendation

COMMITTEE RECOMMENDATION:

N/A

 

STAFF RECOMMENDATION:

Staff recommends approval of the budget amendment.