Page 252 - ArlingtonFY24AdoptedBudget

Other Budget Information

Parks 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 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: $ 2,495,149
Royalty revenues 3,960,000

Total available resources $ 6,455,149

Less: Commitments, reserves and transfers:
Reserved for increase/decrease in investment value $ 262,937
Support for General Gas Fund 3095 1,980,000
Reserved for Texas Rangers Golf Club debt in 2024 1,133,850
Total commitments, reserves and transfers $ 3,376,787

Remaining available balance $ 3,078,362

FY 2024 Adopted Budget and Business Plan 243 City of Arlington, Texas