09-29-17-Ordinance-Adopting the Budget for Fiscal Year 2017-2018-09/11/2017ORDINANCE #09-29-17
AN ORDINANCE OF THE CITY OF SANGER, DENTON COUNTY, TEXAS, ADOPTING THE BUDGET
PROVIDING FOR THE APPROPRIATION OF FUNDS FOR OPERATING AND CAPITAL EXPENDITURES FOR
THE FISCAL YEAR BEGINNING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018, PROVIDING FOR
THE INTRA AND INTER DEPARTMENT AND FUND TRANSFERS, PROVIDING FOR UNEXPECTED
REVENUES SUCH AS GRANTS, DONATIONS, AND INSURANCE PROCEEDS, PROVIDING FOR AN
EFFECTIVE DATE, AND PROVIDING FOR APPROVAL OF THE INVESTMENT POLICY.
WHEREAS, pursuant to the laws of the State of Texas and the City Charter, the budget covering
proposed expenditures for the fiscal year beginning October 1, 2017 and ending September 30, 2018
was filed with the City Secretary; and
WHEREAS, budget workshops were conducted by the City Council on the proposed budget at
which time the proposed budget was fully considered; and
WHEREAS, in accordance with the provisions of the City Charter and the Local Government Code,
the City Council of the City of Sanger, Texas published notice of public hearing on the budget on August
10, 2017 and conducted a public hearing on August 21; and
WHEREAS, Chapter 2256 of the Texas Government Code, commonly known as the "Public Funds
Investment Act," requires the City to review its investment policy and investment strategies not less than
annually; and
WHEREAS, the Public Funds Investment Act requires the governing body to adopt a written
instrument by rule, order, ordinance, or resolution stating that it has reviewed the investment policy and
investment strategies and that the written instrument shall record any changes made to either the
investment policy or investment strategies; and
WHEREAS, the attached City of Sanger Investment Policy is in compliance with the Public Funds
Investment Act and requires no changes to either the investment policy or investment strategies; and
WHEREAS, The City has implemented Governmental Accounting Standards Board Statement 54,
Fund Balance Reporting and Governmental Fund Type Definitions (GASB 54) and Fund balance categories
under GASB 54 are Nonspendable and Spendable and classifications under the Spendable category are
Restricted, Committed, Assigned, and Unassigned and these classifications reflect not only the nature of
funds, but also provide clarity to the level of restriction placed upon fund balance.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS:
Section 1. That the City Council adopts the budget for the City of Sanger, Texas, a copy of which
is on file in the office of the City Secretary and which hereinafter referred to as the "Budget" for the fiscal
year beginning October 1, 2017 and ending September 30, 2018.
Section 2. That the budget presented by the City Council and reviewed during the public hearing
is hereby approved and adopted for the Fiscal Year 2017-2018.
General Fund
$ 7,004,033
Debt Service Fund
$
891,013
Enterprise Fund
$12,134,354
Internal Service Fund
$
1,839,587
4A Fund
$
251,324
4B Fund
$
787,500
Capital Projects Fund
$
1,167,185
Enterprise Capital Project Fund
$
4,723,054
Special Revenue Funds
$
39,322
Section 3. That the City Manager be authorized to make intra and inter department fund
transfers during the fiscal year as becomes necessary in order to avoid over expenditure of any
departments total budget.
Section 4. That the City Manager be authorized to increase the budget for items received during
the year that have a corresponding revenue and expenditure such as Grants, Donations, and Insurance
Proceeds received for property damage.
Section 5. That the City Manager be authorized to sign contracts under $50,000 for services and
projects authorized in the budget.
Section 6. That the City of Sanger has complied with the requirements of the Public Funds
Investment Act and the City Council has reviewed the investment policy and investment strategies and
there are no changes to either the investment policy or investment strategies.
Section 7. In circumstances where an expenditure is to be made for a purpose for which
amounts are available in multiple fund balance classifications, the order in which resources will be
expended is as follows: restricted fund balance, followed by committed fund balance, assigned fund
balance, and lastly unassigned fund balance. When it is appropriate for fund balance to be assigned, the
City Council hereby delegates the authority to the City Manager. The following fund balances are
committed: Equipment Replacement Funds, Library Building Expansion Funds, Beautification Board
Funds, all Donated Funds, and Capital Projects Funds.
Section 8. This ordinance is effective immediately upon its adoption.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Sanger, Texas on this 11th
day of September 2017.
ATTEST:
Cheryl Pricc�,,tity Secretary
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:Thcimas E. Muir, Mayor
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