Presenter/Contact
Presenter
Greg Gutierrez, Budget Supervisor
Contact Info
(830) 221-4398 - ggutierrez@nbtexas.org
Subject Header
SUBJECT:
Title
Approval of a budget amendment within the FY 2022 Airport and Golf Fund
Body
BACKGROUND / RATIONALE:
Airport Fund - Per the City’s financial policy, if an overall departmental budget needs to be increased or decreased, a budget amendment is required via City Council approval. A budget amendment is necessary in the Airport Fund for operational expenses associated with fuel cost. In FY 2022, the Airport experienced record highs in both fuel cost and fuel sales. This overage was expected and included in the FY 2022 estimates during the development of the FY 2023 Adopted Budget. Therefore, there is offsetting revenue to support the additional cost as the fuel purchased will be sold to customers of the Airport. The following budget amendment is recommended for City Council consideration.
Budget Amendment - Airport Fund
Increase: Operations Expenditures $960,000
Golf Fund - A budget amendment is necessary in the Golf Fund for operational expenses related to purchase Merchandise for Resale. Therefore, there is offsetting revenue to support the additional cost. This overage was expected and included in the FY 2022 estimates during the development of the FY 2023 Adopted Budget.
Budget Amendment - Golf Fund
Increase: Operations Expenditures $50,000
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
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X |
Yes |
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Maintain fiscal stability of City operations |
FISCAL IMPACT:
Sufficient funds are available in the Airport Fund and Golf Fund to support the amendments as described above. The amendments listed above are estimates and will be adjusted as FY 2022 is closed.
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the budget amendments in the FY 2022 Golf Fund and Airport Fund.