City of La Porte Annual Budget 1991-1992

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Article IV of the City's Charter governs the preparation and submission of the Budget and the Schedules and Attachments in this Budget meet or exceed its requirements. Amendment of Approved Budeet The amendment of a Departmental Budget requires.approval by the City Council. The City budgets a contingency amount in our two major operating funds (General Fund page 3-73 and Utility Fund page 4-31). These contingency amounts are available to be used by the City Manager for any emergency that might arise. You might notice on page 3-73 that the City estimates to expend $90,000 of the General Fund contingency in Fiscal Year 1990-91. This estimate is based on the immediate needs to provide additional parking area at a recently opened park. The total facilities of the park are being utilized at a much quicker rate than originally expected. Also on page 4-31, you will see that the City expects to spend the entire Utility Fund contingency of $75,000. This amount was needed to go with amounts previously budgeted for the relocation of utilities in conjunction with a State highway widening project. During the fiscal year 1990-91 budgeting process, the State informed us that our cost would be $300,000 spread over a three year period. During the fiscal year, the actual amount needed was determined to be $548,500. Oreanization of Funds The City books are established in accordance with Generally Accepted Accounting Principles (GAAP) and our budget process is based on a working capital approach. The City has the following Fund Types and Funds: General Fund Types General Fund - Used to account for generic activity that is not specifically accounted for elsewhere. Federal Revenue Sharing Fund - Used to account for funds that were received in the General Revenue Sharing Program. Hotel/Motel Occupancy Tax Fund - Used to account for funds received from the Hotel/Motel Occupancy Tax. Enterprise Funds Utility Fund - Used to account for activity surrounding the provision of water and wastewater service to the City residences. Sylvan Beach Fund - Used to account for activity surrounding the City's operation of the Sylvan Beach Pavilion and Conference Center. Airport Fund - Used to account for the operation of the City's Airport. 1-8 I I I I I I I I I I I I I I I I I I I