HomeMy WebLinkAboutOrdinance - 2021-O0096 - Budget Amendment #39First Reading
August 10, 2021
Item No. 6.3
Second Reading
August 24, 2021
Item No. 7.1
ORDINANCE NO.2021-00096
AN ORDINANCE AMENDING THE FY 2020-21 BUDGET FOR MUNICIPAL PURPOSES
RESPECTING THE LUBBOCK POWER & LIGHT OPERATING FUND BY INCREASING
EXPENSES IN THE PURCHASED POWER COST CENTER (7315); INCREASING FUND
LEVEL EXPENSES FOR THE FRANCHISE FEE EQUIVALENT (FFE) PAYMENT AND
PAYMENT IN LIEU OF PROPERTY TAX (PILOT); AND INCREASING REVENUES FOR
THE POWER COST RECOVERY FACTOR (PCRF) AND FFE); PROVIDING FOR FILING;
AND PROVIDING FOR A SAVINGS CLAUSE.
WHEREAS, Section 102.010 of the Local Government Code of the State of Texas
authorizes the City Council to make changes in the budget for municipal purposes; and
WHEREAS, in accordance with the City Budget Ordinance the City Council shall
approve all transfers between funds; and
WHEREAS, the City Council deems it advisable to change the FY 2020-21 Budget for
municipal purposes and reallocate funds as follows; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1. THAT the City Council of the City of Lubbock hereby approves changes
to the City of Lubbock Budget FY 2020-21 (Budget Amendment #39) for municipal purposes,
as follows:
I. Amend the FY 2020-21 Lubbock Power & Light Operating Budget by increasing the
Power Cost Recovery Factor (PCRF) revenue line -item in the amount of $31,708,193
from $163,088,007 to $194,796,200; increase the Franchise Fee Equivalent (FFE)
revenue line -item in the amount of $1,585,410, from $12,150,820 to $13,736,230;
increasing the Energy/Fuel expense line -item in the cost center 7315 in the amount of
$31,708,193, from $83,090,503 to $114,798,696; increasing the FFE expense line -item
by $1,585,410 from $12,791,442 to $14,376,852; increasing the Payment in Lieu of
Property Tax (PILOT) expense line -item by $317,082, from $2,558,288 to $2,875,370.
SECTION 2. THAT a copy of the changes made to the City of Lubbock Budget
pursuant to this Ordinance shall be filed with the City Secretary and County Clerk of Lubbock
as required by law.
SECTION 3. THAT should any section, paragraph, sentence, clause, phrase or word of
this Ordinance be declared unconstitutional or invalid for any reason, the remainder of this
Ordinance shall not be affected thereby.
AND IT IS SO ORDERED
Passed by the City Council on first reading on
Passed by the City Council on second reading on
AT EST:
Re cca Garza
City Secretary
APPROVED AS TO CONTENT:
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D. Blu Kostefich
Chief Financial Officer
APPROVED AS TO FORM:
Am s
D uty City Attorney
ccdocsBudgetFY2021.AmendB.ord
July 27, 2021
August 10, 2021
August 24, 2021
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DANIEL M. POPE, MAYOR