17-65 O - Adopting the FY 2017-2018 Annual Budget TOWN OF PROSPER, TEXAS ORDINANCE NO. 17-65
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ADOPTING THE FISCAL YEAR 2017-2018
ANNUAL BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1,
2017, AND ENDING SEPTEMBER 30, 2018; FOR THE TOWN OF
PROSPER, TEXAS; PROVIDING A SEVERABILITY CLAUSE;
PROVIDING FOR A REPEALER CLAUSE; AND PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Annual Budget for the Town of Prosper, Texas, was prepared by
the Town Manager and presented to the Town Council on August 8, 2017, in accordance
with the Town Charter of the Town of Prosper, Texas; and
WHEREAS, the proposed annual budget document was posted on the Town's
Internet website and also made available for public review; and
WHEREAS, a Notice of Public Hearings concerning the proposed Annual Town
Budget was published as required by state law and said Public Hearings thereon were
held by the Town Council on August 22, 2017, and September 5, 2017; and
WHEREAS, following the Public Hearings, and upon careful review of the
proposed Fiscal Year 2017-2018 Annual Budget, it is deemed to be in the best financial
interests of the citizens of the Town of Prosper, Texas, that the Town Council approve
said budget as presented by the Town Manager.
'~- NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS, THAT:
SECTION 1
The above findings are hereby found to be true and correct and are incorporated
herein in their entirety.
SECTION 2
The official budget for the Town of Prosper, Texas, for the fiscal year beginning
October 1, 2017, and ending September 30, 2018, is hereby adopted by the Town Council
of the Town of Prosper, Texas, and the Town Secretary is directed to keep and maintain
a copy of such official budget on file in the office of the Town Secretary and, upon request,
make same available to the citizens and the general public.
SECTION 3
The sums specified in Exhibit A are hereby appropriated from the respective funds
for the payment of expenditures on behalf of the Town government as established in the
approved budget document.
SECTION 4
Should any part, portion, section, or part of a section of this Ordinance be declared
invalid, or inoperative, or void for any reason by a court of competent jurisdiction, such
decision, opinion, or judgment shall in no way affect the remaining provisions, parts,
sections, or parts of sections of this Ordinance, which provisions shall be, remain, and
continue to be in full force and effect.
SECTION 5
All ordinances and appropriations for which provisions have heretofore been made
are hereby expressly repealed if in conflict with the provisions of this Ordinance.
SECTION 6
In accordance with state law and the Town's Code of Ordinances, proper Notice
of Public Hearings was provided for said Ordinance to be considered and passed, and this
Ordinance shall take effect and be in full force and effect from and after its final passage.
SECTION 7
Specific authority is hereby given to the Town Manager to transfer appropriations
budgeted from one account classification or activity to another within any individual
department or activity.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, BY A VOTE OF TO Q ON THIS THE 12TH DAY OF
SEPTEMBER,,
()IF �0?0
'��'�`"%, APPROVED:
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'"Ray Smith, I ayor
Robyn 94ttle, Town ecretary
APPROVED AS /TfO�FORM
AND LEGALITY:
Terrence S. Welch, Town Attorney
Ordinance No.17-65,Page 2
EXHIBIT"A"
PROPOSED BUDGET 2017-2018
AMENDED
BUDGET AS ORIGINALLY
2016-2017 TRANSMITTED CHANGES FINAL PROPOSED
GENERAL FUND Administration 3,720,441 5,652,269 (400) 5,651,869
Police Services 4,053,677 4,766,256 (7,484) 4,758,772
Fire Services 5,037,551 6,450,871 (172,240) 6,278,631
Public Works 4,546,035 3,070,913 1,065,000 4,135,913
Community Services 2,794,917 3,971,242 (12,175) 3,959,067
Development Services 2,292,145 2,669,840 (3,000) 2,666,840
Engineering 974,832 1,010,769 (500) 1,010,269
General Fund Total $ 23,419,598 $ 27,592,160 $ 869,201 $ 28,461,361
WATER/SEWER FUND
Administration 2,807,150 3,993,280 - 3,993,280
Debt Service 2,980,790 2,973,872 2,973,872
Water Purchases 3,701,359 4,153,586 4,153,586
Public Works 5,331,175 7,799,539 (904,328) 6,895,211
Water/Sewer Total $ 14,820,474 $ 18,920,277 $ (904,328) $ 18,015,949
DEBT SERVICE(I&S) 4,161,810 4,709,908 4,709,908
TIRZ#1 - 1,881,737 (635,822) 1,245,915
TIRZ#2 - 206,978 206,978
PARKS IMPROVEMENT AND DEDICATION FEES 1,538,850 1,730,000 - 1,730,000
IMPACT FEES 15,402,974 15,558,630 80,000 15,638,630
INTERNAL SERVICE 40,000 - - -
SPECIAL REVENUE 76,828 45,099 45,099
STORM DRAINAGE 400,318 594,322 594,322
VERF 329,728 478,933 478,933
Other Funds Total $ 21,950,508 $ 25,205,607 $ (555,822) $ 24,649,785
GRAND TOTAL $ 60,190,580 $ 71,718,044 $ (590,949) $ 71,127,095
Unspent project funds for Capital Projects,Park Improvement and Dedication Fees,and Impact Fees
as of September 30,2017,will automatically be re-apportioned to their respective projects for FY 2017-2018.
Funds encumbered for the VERF will also be re-apportioned for FY 2017-2018
Ordinance No.17-65,Page 3