16-R-43 - Budget Amendment SSLGC FY 2015-161 J 1 U4 0 tM us i
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS AUTHORIZING THE SCHERTZ /SEGUIN LOCAL
GOVERNMENT CORPORATION (SSLGC) BUDGET AMENDMENT
FOR FISCAL YEAR 2015 -2016 IN THE AMOUNT OF $400,000 AS A
TRANSFER TO THE SSLGC REPAIR AND REPLACEMENT FUND,
AND OTHER MATTERS IN CONNECTION THEREWITH
WHEREAS, the City staff of the City of Schertz (the "City ") has recommended that the
City approve the Schertz /Seguin Local Government Corporation Fiscal Year 2015 -2016 budget
amendment; and
WHEREAS, the City Council has determined that it is in the best interest of the City to
approve the budget amendment to ensure that the citizens and businesses of Schertz continue to
receive excellent and vital water service.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SCHERTZ, TEXAS
THAT:
Section 1. The City Council hereby authorizes the approval of the Schertz /Seguin
Local Government Corporation Fiscal Year 2015 -2016 budget amendment.
Section 2. The recitals contained in the preamble hereof are hereby found to be true,
and such recitals are hereby made a part of this Resolution for all purposes and are adopted as a
part of the judgment and findings of the City Council.
Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with
any provision of this Resolution are hereby repealed to the extent of such conflict, and the
provisions of this Resolution shall be and remain controlling as to the matters resolved herein.
Section 4. This Resolution shall be construed and enforced in accordance with the
laws of the State of Texas and the United States of America.
Section 5. If any provision of this Resolution or the application thereof to any person
or circumstance shall be held to be invalid, the remainder of this Resolution and the application
of such provision to other persons and circumstances shall nevertheless be valid, and the City
Council hereby declares that this Resolution would have been enacted without such invalid
provision.
Section 6. It is officially found, determined, and declared that the meeting at which
this Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by Chapter 551, Texas Government Code, as amended.
Section 7. This Resolution shall be in force and effect from and after its final
passage, and it is so resolved.
PASSED AND ADOPTED, this 28'' day of June 2016.
CITY OF SCHERTZ, TEXAS
Mayor, Michael R. Carpenter
T:
(--Cl'tyv Secretary, Brenda Dennis
(CITY SEAL)
Resolution # SSLGC R16 -04
A RESOLUTION AMENDING THE FISCAL YEAR 2016 SCHERTZ SEGUIN LOCAL GOVERNMENT
CORPORATION BUDGET.
NOW, THEREFORE, BE IT RESOLVED THAT THE FISCAL YEAR 2016 SCHERTZ SEGUIN LOCAL
GOVERNMENT CORPORATION BUDGET IS AMENDED AS FOLLOWS:
Schertz- Seguin Local Government Corporation Operating Fund
Amount Increase: Increase:
$ 400,000 SSLGC- Operating SSLGC- Operating
Intragovernmental Transfers Non - Departmental
Transfers to Repair & Replacement Fund Use of Retained Earnings
058 - 9000 - 826100 058- 9800 - 960000
Reason requested: The Corporation has a Retained Earnings policy. This policy set a threshold for the
minimum retained earnings to be held in the operating fund. This minimum policy was
set at three months operating expenditures. Based upon this policy and the results of the
audit, there is $400,000 above this threshold available for use.
Repair and Replacement Fund
Amount Increase:
$ 400,000 Repair and Replacement Fund
Intragovermnental Transfers
Transfers from Operating Fund
061- 391058
Increase:
Repair and Replacement Fund
Retained Earnings
061 - 297020
Reason requested: The Corporation has a Retained Earnings policy. This policy set a threshold for the
minimum retained earnings to be held in the operating fund. This minimum policy was
set at three months operating expenditures. Based upon this policy and the results of the
audit, there is $400,000 above this threshold available for use.
The Board of Directors of the Schertz- Seguin Local Government Corporation finds that these budget adjustments
are required because changes and unforeseen conditions that could not have been anticipated in the original budget.
This resolution shall become effective and applicable on the date of its approval and passage..
Resolution ## SSLGC R16 -04
PASSED AND ADOPTED BY THE BOARD OF DIRECTORS OF THE SCHERTZ- SEGUIN LOCAL
GOVERNMENT CORPORATION, on this the 21" day of April, 2016.
ATTEST.
T. "Ja1*" aco cret-an
•;
K45 t n Greenwald, President
Schertz /Seguin. Local Government Corporation
Bob Pees, .Assistant Secretary