Office of the City Manager
Reference: Third Amendment to the 2022 Budget
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez, City Manager
Prepared By: Kayla Barber-Perrotta, Budget and Performance Manager
Date Prepared: September 1, 2022
PURPOSE:
To amend the 2022 Budget for the transfer of American Rescue Plan Act (ARPA) grant funds from the Capital Fund to the Water Fund for use on the water treatment plant project, and to amend the Storm Drainage Fund to appropriate additional revenues for Prairie Center storm drainage rebates as per the development agreement.
STRATEGIC FOCUS AREA:
Financially Responsible
Strategic, Supportable Infrastructure
BACKGROUND:
The City Council adopted the 2022 Budget on December 7, 2021, at $155,140,018. In February of 2022, Council adopted the First Amendment to the 2022 Budget for revisions to the Municipal Service Center project timeline and to accommodate increased water rates for City properties. Currently, the 2022 Budget and appropriations sit at $160,317,180.
On June 7, 2022 Council approved the Second Amendment to the 2022 Budget to accommodate additional Lodging Tax awards and the Community Development Block Grant Award for the construction of the Historic City Hall bathrooms. This brought the current 2022 City Budget to $160,552,941.
The recommended Third Amendment to the 2022 Budget encompasses an increase to both the Capital Fund and the Storm Drainage Fund. The amendment to the Capital Fund is to allow for the transfer of $10,444,588 of ARPA funds from fund balance in the Capital Fund to fund balance in the Water Fund to support bonding efforts for construction of the Water Treatment Plant. These funds need to be in fund balance for the Water Fund to help the City secure the best bonding terms possible. An additional amendment to the Water Fund is not needed for 2022 as the actual spend of these funds will not occur until 2023.
The amendment to the Storm Drainage Fund is n...
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