Page 239 - City of Arlington FY19 Adopted Operating Budget

Other Budget Information

Parks Gas Fund
FY 2019 Operating Position
The City has established three funds to receive revenuesfrom natural gas operations that do not go
to the Arlington Tomorrow Foundation (ATF). Now that the Foundation has reached its capped
corpus amount of $100 million, these three funds receive all lease bonus and royalty revenues
associated with natural gas operations. The policies and procedures concerning expenditures by,
and transfers to and from, the Parks Gas Fund 3096 are outlined below.

The Parks Gas Fund receives natural gas revenues derived from drilling operations beneath the City's
park land. Accounting unit 910201 is available to account for one‐time expenditures from the fund,
but resources may also be transferred to other funds to more appropriately track and account for
expenditures. No expenditures that are in lieu of ongoing expenditures typically made from the
Parks Department's operating budget may be incurred without prior approval from the City
Manager's Office. Because the Parks Gas Fund is designated for specific purposes, expenditure
amounts in the fund are not appropriated on an annual basis as they would be in the City's operating
funds.

Periodically, fiscal conditions may necessitate transfers from the Parks Gas Fund to other funds to
cover specific one‐time costs. All proposed interfund transfers involving gas funds will require
approval by the City Manager's Office prior to implementation.

In addition, transfers of gas revenues from the Parks Gas Fund cash account into various operational
activity codes or other spending accounts may be requested by the Parks and Recreation
Department in order to facilitate the encumbrance and disbursement of these resources. All
requests for transfers of this type must be submitted in writing to the City's Chief Financial Officer,
and may not proceed without his/her written approval.

Beginning balance, available cash: $ 5,507,305

Less: Commitments, reserves and transfers:
Reserved for increase/decrease in investment value $ 23,508
Remaining reserve for Lamar/Collins Overlay 3,700,000
Reserved for Texas Rangers Golf Club debt 184,618
Transfer to Park Performance Fund for FY 2018 operating deficit 1,017,226
Additional reserve for Arlington Commons 581,953
Deferred revenue, lease bonuses ‐
Total commitments, reserves and transfers $ 5,507,305

Remaining available balance $ ‐

2019 Adopted Budget and Business Plan 224 City of Arlington, Texas