Page 251 - ArlingtonFY24AdoptedBudget
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Other Budget Information





                                                      General Gas Fund
                                                  FY 2024 Operating Position

                  The City has established three funds to receive revenuesfrom natural gas operations that do not go
                  to the Arlington Tomorrow Foundation (ATF).  The ATF will reach its capped corpus amount of $100
                  million from scheduled reimbursements; these three funds receive lease bonus and royalty revenues
                  associated with natural gas operations net of those scheduled reimbursements.  The policies and
                  procedures concerning expenditures by, and transfers to and from, the General Gas Fund 3095 are
                  outlined below.

                  In 2016, a total of $50 million from the ATF corpus was transferred to the Innovation/Venture Capital
                  Fund to support the development of “Texas Live” adjacent to Globe Life Field.  The ATF corpus will be
                  recapitalized to the $100 million level through future reimbursements from the gas funds.

                  The General Gas Fund receives revenues that are not specifically  designated for the Parks or Airport
                  Gas Funds.  Within this fund, a total of four accounting units are available from which expenditures
                  may be authorized, including:

                  910102  - Neighborhood Grants, with an amount designated for expenditure
                  910105  - Redevelopment Initiatives
                  910106  - Land Banking, with an amount designated for expenditure
                  910107  - Arlington Home Improvement Incentive Program

                  Periodically, fiscal conditions may necessitate transfersfrom the General Gas Fund to the General
                  Fund to offset revenue shortfalls or to cover one-time costs.  All proposed interfund transfers
                  involving gas funds will require approval by the City Manager's Office prior to implementation.





                 Beginning balance, available cash                                  $     2,904,452
                    Less:  Encumbrances                                                                 -
                    Royalty revenues                                                        1,800,000
                    Support from Parks Gas Fund 3096                                        1,980,000
                    Transfer of royalties from Water Utilites Fund                          2,000,000


                 Total available resources                                          $     8,684,452

                 Less:
                    Reserved for increase/decrease in investment value              $         125,513
                    Designated for Neighborhood Grants                                         150,000
                    Designated for Land Banking                                                285,601
                    Reserved for Arlington Home Improvement Incentive Program                     84,242
                    Reserved for ATF corpus reimbursement, FY 2024                          3,305,704
                    Reserved for Arlington Small Business Assistance                           150,000


                 Total commitments, reserves and transfers                          $     4,101,060


                 Remaining available balance                                        $     4,583,392





            FY 2024 Adopted Budget and Business Plan                                        242                                                                City of Arlington, Texas
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