From
Kathleen C. Mercer
Title
Second and Final Public Hearing and adoption of the FY 2016/2017 Capital Improvement Projects Budgets
Presenter
Kathleen C. Mercer, Director of Budget/Purchasing
Recommend Action
Conduct hearing
Analysis
On August 2, 2016 the City Manager’s proposed budget was submitted to the City Council. An overview of the proposed budget was presented to the City Council at the briefing session. The City Council deliberated on proposed Capital Improvement Projects Budget at a workshop on August 9, 2016.
Financial Consideration
The FY 2016/2017 Capital Improvement Projects Budgets proposed total is $77,188,030. Significant changes and issues included in the Proposed FY 2016/2017 Capital Improvement Projects Budgets are summarized as follows:
Proposed Appropriations : $77,188,030
Airport $400,000
Capital Reserve $2,123,920
Fire $2,436,100
Lake $372,000
Library $1,938,000
Municipal Facilities $12,543,120
Parks $8,310,000
Police $396,820
Storm Water $7,245,900
Streets $19,929,170
Solid Waste $2,180,000
Water $15,854,000
Wastewater $3,459,000
Funding sources:
Cash/Other resources $26,050,339
Certificates of Obligation $36,385,314
Sales Tax Bonds $7,000,000
Water Revenue Bonds $6,749,668
Cost of Issuance $1,002,709
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, APPROVING THE FY 2016/2017 CAPITAL IMPROVEMENT PROJECTS BUDGET SUBMITTED BY THE CITY MANAGER OF THE CITY OF GRAND PRAIRIE, TEXAS, IN THE AMOUNT OF $77,188,030 WITH DETAIL BELOW BY FUND.
WHEREAS, the City Manager of the City of Grand Prairie has prepared a budget providing the capital improvements project development for the City in FY 2016/2017; and
WHEREAS, the City Council has revised the budget and has directed certain modifications be made; and
WHEREAS, the appropriation for each project is based on an estimate of the cost even though the actual ...
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