CITY OF TEXARKANA, AR

REQUEST FOR BOARD ACTION

 

AGENDA TITLE:  Adopt a Resolution approving the Texarkana Water Utilities FY2019 (TWU) Budget. (TWU)

AGENDA DATE:  October 15, 2018

ITEM#:  8

DEPARTMENT:  Texarkana Water Utilities

DATE SUBMITTED:  October 4, 2018

PREPARED BY:  J.D. Phillips, P.E., TWU Executive Director

SUBJECT:  Texarkana Water Utilities Budget for FY 2019

EXHIBITS:  Resolution and Budget

APPROVAL:

 

EXPENSE REQUIRED: N/A

AMOUNT BUDGETED: N/A

APPROPRIATION REQUIRED: N/A

 SUMMARY:  The Utility staff made available a bound volume of the proposed FY 2019 budget on Friday, October 5, 2018. The Texarkana, Arkansas Enterprise Fund proposed budget is a fiscally sound document meeting bond coverage while supporting existing programs, general maintenance and capital expenditures within the limits of available revenue.  The combined Arkansas proposed FY 2019 Utility budget is approximately 6.2% more than the proposed FY 2018 budget.  The ending balance for FY 2019 combined budget is proposed at $2,055,368 or 64 days of operation.  The current FY 2018 Budget is revised and estimated to come in $231,594 less than the proposed budget.  The Texas/Arkansas split for FY 2019 will be 62.81% Texas and 37.19% Arkansas, a decrease of .16%. 


BOARD ACTION: The Utility staff recommends approval of the budget with all Texarkana, Arkansas expenditures not to exceed $11,755,076.

EMERGENCY CLAUSE:  None needed

 


RESOLUTION NO. ______

            WHEREAS, the FY2019 Texarkana Water Utilities (TWU) budget has been submitted to the Board of Directors for review; and 

            WHEREAS, Utility staff recommends approval of the budget as presented to the Board in the bound volume with all Texarkana, Arkansas, expenditures not to exceed Eleven Million Seven Hundred Fifty-Five Thousand and Seventy-Six and 00/100 Dollars, ($11,755,076.00); and

            WHEREAS, the City Manager and Utility staff recommend approval;

NOW, THEREFORE, BE IT RESOLVED, by the Board of Directors of the City of Texarkana, Arkansas, that the TWU budget for fiscal year 2019, attached hereto and made a part hereof, is hereby approved. 

PASSED AND APPROVED this 15th day of October, 2018.

 

 

_____________________________

Ruth Penney Bell, Mayor

 

ATTEST:

 

 

_________________________________

Heather Soyars, City Clerk

 

 

APPROVED:

 

 

_________________________________

George M. Matteson, City Attorney