Page 388 - FortWorthFY23AdoptedBudget

Gas-Related Revenue &
Expense/Expenditure

Policy

b. Twenty-five percent (25%) of the revenues will be allocated to the Water
and Sewer Endowment Gas Lease Fund.

3. Park land - Lake Worth

Funds from park land located in and around Lake Worth (except the Nature Center
and Refuge) shall be designated for qualified expenditures in the development and
execution of the 2007 Lake Worth Capital Improvement Implementation Plan, until
such time as the plan projects are completed.

4. Park land - Fort Worth Nature Center and Refuge

Allocation of Bonus
Bonus revenues from gas leases associated with the Nature Center will be
allocated first to establish the Nature Center Endowment Gas Lease Fund such that
a ten million dollar ($10,000,000.00) corpus will be established within the
Endowment Fund. Any remaining bonus funds will be allocated as follows:

a. Fifty percent (50%) to the Nature Center Gas Lease Capital Improvement
Program to implement the Nature Center Master Plan; and
b. Fifty percent (50%) to the Park Gas Lease Capital Project Fund.

Allocation of Royalties and Other Lease Revenues
Royalty and all other revenue from gas leases associated with the Nature Center will
be allocated in accordance with the paragraphs below. Allocation shall vary
depending on whether such allocation occurs before or after Full Funding of the
Master Plan as defined in the following paragraph.

In 2009, the City Council adopted Resolution 3765-07-2009, which endorsed the
allocation of $62 million, adjusted for inflation, to provide full funding of the Nature
Center Master Plan, which was incorporated into the City’s Comprehensive Plan in
February 2004 (M&C G-14276). In accordance with that Resolution, the term “Full
Funding of the Master Plan” shall mean a total combined allocation to the Nature
Center Endowment Gas Lease Fund and the Nature Center Capital Improvement
Program of an amount that, as adjusted by the Consumer Price Index, represents the
equivalent of $62 million in 2009.

Until Full Funding of the Master Plan (as described above) has been achieved, all
royalties and other revenue received from gas leases associated with the Nature
Center will be allocated as follows:

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