From
Gary L. Yakesch
Title
Ordinance Amending the FY 2016/2017 Lake Operating Fund by appropriating $110,152 from Ending Resources and adding $307,860 in revenues from increased Gate Receipts, Park Sites, and Other Revenues.
Presenter
Rick Herold, Parks, Arts, and Recreation Director
Recommended Action
Approve
Analysis
The FY 2016/2017 Lake Parks Budget provided for $3,005,550 in revenues and $2,706,073 in operating appropriations. In FY 2016/2017 an increase in visitation at both Lynn Creek and Loyd Park led to a $307,860 increase in gate, park sites and other revenues over the approved budget. The incremental increase in revenues led to an increase in associated flow through costs. Specifically, labor, supplies, service charges and cost of goods in camp store increased as a result of the added revenues and visitation. Savings in cabins and lodge division help offset some of the added cost increases. Accordingly, total operating expenditures of $2,816,225 exceeded the FY 2016/2017 Budget by $110,152. The net change between the added revenues and increased appropriations is a net $197,708 increase to the Ending Resources in the Lake Operating Fund (3185).
This item was presented to the Finance and Government Committee on January 9th, 2018 and received recommendation for approval by the City Council.
Financial Consideration
Funding for the the FY 2016/2017 Lake Operating Fund Budget is available by approving an ordinance appropriating $110,152 in labor, supplies, and service charges from Ending Resources and adding $307,860 in revenues. This action will add $197,708 to the Ending Resources to the FY 2016/2017 Lake Operating Fund (3185).
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, AMENDING THE FY 2016/2017 LAKE OPERATING FUND BY APPROPRIATING $110,152 FROM ENDING RESOURCES AND ADDING $307,860 IN REVENUES FROM INCREASED REVENUES IN THE LAKE OPERATING FUND (3185)
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF...
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