COUNCIL COMMUNICATION

DATE:

01/13/03

 

SUBJECT:   FINAL READING OF ORDINANCE 2003-O-010

AUTHORIZING THE CITY MANAGER TO EXECUTE A BUDGET AMENDMENT APPROPRIATING OPERATIONS FUNDS FROM THE URBAN TRANSPORTATION GRANT, SECTION 5307 FOR FISCAL YEAR 2002-2003 IN THE AMOUNT OF $41,781.00 INCREASING THE STATE OPERATING GRANT FROM $500,000.00 TO $541,781.00 AND DECREASING THE SALES TAX MATCH FROM $3,825,955.00 TO $3,784,174.00 AND TRANSFERRING $41,781.00 TO SALES TAX RESERVE APPROPRIATION.

INITIATED BY:

Larry Dovalina, City Manager

 

 

STAFF SOURCE:

Jose A. Guerra, Interim General Manager

 

PREVIOUS COUNCIL ACTION:

None

 

 

BACKGROUND:              

Amendment #1 on the FY 2003 Section 5307 Urban Transportation Grant.  This amendment will incorporate into the agreement the FY 2002 rollover amount of $41,781.00.  The new maximum amount payable under this grant without modification is now $541,781.00.

 

FINANCIAL IMPACT:

 

 

 

BUDGET

PROPOSED

 

BUDGET

AMENDMENT

BUDGET

TRANSIT SYSTEM

 

 

 

REVENUES:

 

 

 

  STATE OPERATING GRANT

   500,000

 41,781

   541,781

  TRANSFER IN/SALES TAX

3,825,955

(41,781)

3,784,174

 

 

 

 

 

 

 

 

EXPENDITURES:

 

 

 

  TRANSFER OUT/OPERATIONS

3,825,955

(41,781)

3,784,174

  RESERVE APPROPRIATION

2,169,700

 41,781

2,211,481

 

 

 

 

                                                                              

LMI BOARD RECOMMENDATION: 

Pending LMI Board meeting of December 10, 2002.

 

 

 

STAFF RECOMMENDATION: 

Staff recommends the LMI Board of Director’s to approve ordinance for fiscal year 2003.

 

ORDINANCE   2003-O-010

 

 

AUTHORIZING THE CITY MANAGER TO EXECUTE A BUDGET AMENDMENT APPROPRIATING OPERATIONS FUNDS FROM THE URBAN TRANSPORTATION GRANT, SECTION 5307 FOR FISCAL YEAR 2002-2003 IN THE AMOUNT OF $41,781.00 INCREASING THE STATE OPERATING GRANT FROM $500,000.00 TO $541,781.00 AND DECREASING THE SALES TAX MATCH FROM $3,825,955.00 TO $3,784,174.00 AND TRANSFERRING $41,781.00 TO SALES TAX RESERVE APPROPRIATION.

 

            WHEREAS, the Urban Transportation Grant, August 16, 2002, and

 

            WHEREAS, The City Council finds it to be in the best interests of the City of Laredo, Texas, to executed budget amendment in the amount of $41,781.00 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 additional funds from the Texas Department of Transportation, 5307 Program, in the amount of $41,781.00; and

 

Section 2.        The City’s Urban Transportation Grant contribution is increased from $500,000.00 to $541,781.00; and

 

Section 3.        The City’s sales tax match for transit operating expenses is reduced from $3,825,955.00 to $3,784,174.00; and

 

Section 4.        The reduced amount of match of $41,781.00 shall be transferred into sales tax reserve appropriation.

 

 

 

PASSED BY THE CITY COUNCIL AND APPROVED BY THE MAYOR ON THIS THE ___________ DAY OF __________, 2002.

 

 

 

 

_______________________

ELIZABETH G. FLORES

MAYOR

 

 

ATTEST:

 

_______________________

GUSTAVO GUEVARA, JR.

CITY SECRETARY

 

 

APPROVES AS TO FORM:

 

BY  ___________________

        JAIME L. FLORES

        CITY ATTORNEY