HomeMy Public PortalAboutOrdinance No. 1495-24 02-26-2024 ORDINANCE NO. 1495-24
AN ORDINANCE OF THE CITY OF RICHLAND HILLS, TEXAS,
APPROVING AND ADOPTING AN AMENDED BUDGET FOR THE
CAPITAL PROJECTS FUND AND TAX INCREMENT FINANCING FUND
FOR FISCAL YEAR OCTOBER 1, 2023 THROUGH SEPTEMBER 30,
2024, PROVIDING THAT EXPENDITURES FOR SAID FISCAL YEAR
SHALL BE MADE IN ACCORDANCE WITH SAID BUDGET, AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council, after notice and a public hearing, adopted the budget
for the fiscal year of October 1, 2023 to September 30, 2024; and
WHEREAS, the City Council, in accordance with Section 102.010, Texas Local
Government Code, desires to make certain changes in the budget for unanticipated
municipal projects and purposes; and
WHEREAS, the City Council finds that the proposed amendments for the Capital
Projects Fund budget and Tax Increment Financing Fund budget are in the best interest
of the municipal taxpayers.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF RICHLAND HILLS, TEXAS, THAT:
SECTION 1.
The Capital Projects Fund budget and Tax Increment Financing Fund budget, as
amended and approved by the City Council, which is attached to this ordinance as Exhibit
A, and made a part thereof for all purposes, is hereby adopted and approved by the City
Council. All aspects of the budget for the fiscal period beginning October 1, 2023 and
ending September 30, 2024 not amended pursuant to this Ordinance are hereby ratified.
SECTION 2.
This Ordinance shall be in full force and effect from and after its adoption.
APPROVED AND ADOPTED at a regular meeting of the Richland Hills City
Council on February 26, 2024, by a vote of "7 ayes, r> nays, and -
abstentions.
APPROVED: ATTEST:
o
nnuurrh
e Honorable Mayor .° c L• '" +' Lindsay R i on, ity Secretary
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EXHIBIT A
Capital Projects Fund (Fund 020)
Expenditures — Capital Projects Fund
• Increase Rosebud Park Improvements— (account 020-56107-88-880P09) of$0 by
$160,433 for an amended total of$160,433 for funding for the Parkhill Professional
Services Agreement for improvements to Rosebud Park.
The total FY 2024 Capital Projects Fund expenditure budget of $0 will increase by
$160,443 for an amended expenditure budget total of $160,443.
Tax Increment Financing (TIF) Fund (089)
Expenditures — TIF Fund
• Increase Miscellaneous Expense (089-56122-61-00) of$90,000 by $25,780 for an
amended total of$115,780 for the illuminated street signs project.
The total FY 2024 TIF Fund expenditure budget of$750,000 will increase by $25,780 for
an amended expenditure budget total of $775,780.
Ordinance No. 1495-24, Page 2 of 2