09-26-18-Ordinance-Adopting the Budget Fiscal Year 2018-2019-09/17/2018ORDINANCE #09-26-18
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, 2018 AND ENDING SEPTEMBER 30, 2019, 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, 2018 and ending
September 30, 2019 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 Chatter and the Local
Government Code, the City Council of the City of Sanger, Texas published notice of public hearing
on the budget on August 9, 2018 and conducted a public hearing on August 20, 2018; 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, 2018 and ending September 30, 2019.
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 2018-2019.
General Fund
$7,822,200
Debt Service Fund
$917,551
Enterprise Fund
$11,994,966
Internal Service Fund
$2,031,065
4A Fund
$264,673
4B Fund
$302,500
Capital Projects Fund
$300,000
Enterprise Capital Projects Fund
$4,250,000
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 contract for expenditures 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 17th day of September 2018.
ATTEST:
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Chery r ce, City Secretary
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E. Muir, Mayor