Page 242 - City of Fort Worth Budget Book

Gas Endowment Funds Gas Endowment Fund Statement

Gas Lease Transfer Out P_101770
FY2023 FY2024 FY2024 FY2025 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %
Aviation Endowment Gas Lease 5,368,865 — 1,541,872 1,738,854 196,982 12.8 %
Aviation Gas Lease Cap Proj — — 40,216 37,323 (2,893) (7.2) %
General Endowment Gas Lease 1,365,028 — 421,219 563,954 142,735 33.9 %
General Gas Lease Capital Prj — — 34,938 34,105 (833) (2.4) %
Lake Worth Gas Lse Cap Project — — 79,399 78,516 (883) (1.1) %
Muni Golf Gas Lease Cap Proj — — 3,878 3,275 (603) (15.5) %
PARD Endowment Gas Lease 1,456,886 — 424,860 503,323 78,463 18.5 %
PARD Gas Lease Capital Project — — 724,926 600,104 (124,822) (17.2) %
Water/Sewer Endowmt Gas Lse 452,664 — 156,751 152,452 (4,299) (2.7) %
Water/Sewer Gas Lease Cap Proj — — 15,563 17,211 1,648 10.6 %
Grand Total $ 8,643,443 $ — $ 3,443,622 $ 3,729,117 $ 285,495 8.3 %

Gas Lease Bank Fees P_100801

FY2023 FY2024 FY2024 FY2025 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %
PARD Endowment Gas Lease 31,313 — 48,000 35,336 (12,664) (26.4) %
General Endowment Gas Lease 36,854 — 61,500 41,026 (20,474) (33.3) %
Aviation Endowment Gas Lease 102,032 — 177,524 113,703 (63,821) (36.0) %
Water/Sewer Endowmt Gas Lse 10,625 — 21,500 12,433 (9,067) (42.2) %
Lake Worth Gas Lse Cap Project 5,067 — — — —
PARD Gas Lease Capital Project 2,006 — 2,006 — (2,006) (100.0) %
Muni Golf Gas Lease Cap Proj 275 — — — —
General Gas Lease Capital Prj 2,068 — — — —
Aviation Gas Lease Cap Proj 2,359 — — — —
Water/Sewer Gas Lease Cap Proj 14 — — — —
Grand Total $ 192,613 $ — $ 310,530 $ 202,498 $ (108,032) (34.8) %

FUND PURPOSE AND GOALS

The Endowment Gas Lease funds were established for the purpose of housing specific gas well revenues
intended to remain intact and allow for the investment of the funds in accordance with the Financial Management
Policies. The revenue generated from the investment of the funds would be a long-term source of income, to be
spent for specific purposes. The trustee, in close cooperation with the Chief Financial Officer/Director of Finance,
recommends to the City Council distribution procedures for the different funds of the Trust consistent with the goal
to preserve, as well as increase, the trust principal. The amount of income available to be distributed each year
from a particular fund of the Trust is determined by the trustee and the Chief Financial Officer/Director of Finance
consistent with the Trust agreement approved by the Mayor and City Council.

Expenditures/Expenses of revenues derived from lease bonuses and royalties, other gas-related revenue, and
distributions from the Trust/Endowment Funds shall be appropriated for one-time program initiatives and capital
projects that meet one or more of the program and project criteria listed below:

• Capital projects with a minimum 10-year useful life.
• To provide matching grant funds to leverage funds for capital projects.

• Technology with a minimum 5-year useful life.
• Acquisition of equipment and fleet assets including contributions to a revolving replacement fund.

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