Page 1 - Lake Worth FY20 Approved Budget

FILED

TARRANT COUNTY CLERK

MARY LOUISE NICHOLSON, COUNTY

CLERK

2021-05-13 2:53 PM

ORDINANCE NO. 1214

AN ORDINANCE OF THE CITY OF LAKE WORTH, TEXAS,

ADOPTING A BUDGET AMENDMENT TO THE ORIGINAL

OPERATING BUDGET OF THE CITY OF LAKE WORTH, TEXAS,

FOR THE FISCAL YEAR 2020/ 2021; PROVIDING FOR

SUPPLEMENTAL APPROPRIATION AND/OR TRANSFER OF

CERTAIN FUNDS; PROVIDING FOR SEVERABILITY; AND

PROVIDING AN EFFECTIVE DATE.

WHEREAS, by Ordinance No. 1189, the City Council of the City of Lake

Worth, Texas, adopted its budget for FY 2020/2021; and

WHEREAS, after amid -year review of the current budget, the City Council has

determined that the budgets for the General, Park Improvement, Street

Maintenance, Water Sewer, and Hotel Occupancy Tax Funds require amendment;

and

WHEREAS, Section 102. 010 of the Local Government Code and Section 5.01

of the Lake Worth City Charter allow the City Council to make changes to the

budget for municipal purposes; and

WHEREAS, the City Council desires to amend Ordinance No. 1189 to reflect

a supplemental appropriation and/or transfer in the fiscal year 2020/2021 a

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE

CITY OF LAKE WORTH, TEXAS:

Section 1: The original operating budgets for the General, Park Improvement,

Street Maintenance, Water Sewer, and Hotel Occupancy Tax Funds for FY

2020/2021 for the City of Lake Worth, Texas are hereby amended as detailed in

Attachment A.

Reason ( pursuant Section 5.01( e) of the City Charter, as amended):

The General Fund budget was prepared at the beginning of the COVID- 19 pandemic

and due to economic uncertainties at that time, it reflected significant reductions in

revenues and expenses. A mid -year budget review indicated that the anticipated

revenue shortfalls were not realized, allowing the City to increase budgeted revenues

and expenses. The mid -year budget review also indicated the need for budget

amendments in the Park Improvement and Street Maintenance Funds to include

increases in revenues and expenses. The Water Sewer Fund mid -year budget review

indicated that both revenues and expenses required reductions, mostly related to

lower than budgeted sewer revenues and Fort Worth sewer charges. The Hotel

Occupancy Tax Fund required a reduction in budgeted revenue related to reduced

travel during the COVID- 19 pandemic; expenses were increased slightly to partially

fund a Farmer's Market.

Ordinance No. 1214

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