15-43 - OTOWN OF PROSPER, TEXAS
ORDINANCE NO. 15-43
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS, AMENDING
ORDINANCE NO. 14-67 (FY 2014-2015 BUDGET) AND ALLOCATING FUNDS
TO FUND INCREASED REVENUES OF $32,000, EXPENDITURES OF
$42,000, AND TRANSFERS OUT OF $1,535,000 IN THE GENERAL FUND
BUDGET; INCREASED REVENUES OF $1,412,500, TRANSFERS IN OF
$1,590,000, AND EXPENDITURES OF $3,617,000 IN THE CIP BUDGET; AND
INCREASED REVENUES AND TRANSFERS OUT OF $55,000 IN THE
ESCROW BUDGET; PROVIDING FOR REPEALING, SAVINGS AND
SEVERABILITY CLAUSES; AND PROVIDING FOR AN EFFECTIVE DATE OF
THIS ORDINANCE.
WHEREAS, the Town Council of the Town of Prosper, Texas ("Town Council"), has
investigated and determined that it will be beneficial and advantageous to the residents of the
Town of Prosper, Texas ("Prosper"), to amend Ordinance No. 14-67 (FY 2014-2015 Budget) for
the purpose of funding increased building rental, modifying staffing levels and providing
professional services; and,
WHEREAS, the changes will result in fund balance being allocated to General Fund
departments.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS:
SECTION 1
Findlings Incorporated. The findings set forth above are incorporated into the body of
this Ordinance as if fully set forth herein.
SECTION 2
Amendment to Ordinance No. 14-67 (FY 2014-2015 Budd. Ordinance No. 14-67 (FY
2014-2015 Budget) is hereby amended to allow for increases to revenues and appropriations as
shown in Exhibit 'A" attached hereto and incorporated herein.
SECTION 3
Savinqs/Repealing Clause. All provisions of any ordinance in conflict with this
Ordinance are hereby repealed; but such repeal shall not abate any pending prosecution for
violation of the repealed Ordinance, nor shall the repeal prevent prosecution from being
commenced for any violation if occurring prior to the repeal of the Ordinance. Any remaining
portions of conflicting ordinances shall remain in full force and effect.
SECTION 4
Severability. Should any section, subsection, sentence, clause, or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is
expressly provided that any and all remaining portions of this Ordinance shall remain in full force
and effect. Prosper hereby declares that it would have passed this Ordinance, and each
section, subsection, sentence, clause, or phrase thereof irrespective of the fact that any one or
more sections, subsections, sentences, clauses, or phrases be declared unconstitutional or
invalid.
SECTION 5
Effective Date. This Ordinance shall become effective immediately upon its passage.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ON THIS 14TH DAY OF JULY, 2015.
ATI'"
R byn Batle, Town Secretary
APPROVED AS TO FORM AND LEGALITY:
Terrence S. etch, Town Attorney
TOWN OF PROSPER, `T iA S
Ray Smith, Kaor
Ordinance No. 15-43, Page 2
EXHIBIT "A"
Town of Prosper
Amended Budget
Fiscal Year 2014-2015
REASON FOR ADJUSTING THE GENERAL FUND APPROPRIATION
The General Fund revenues will increase by $15,000 and expenditures will increase by $17,000
in connection with a Chapter 380 Agreement with Highland Homes. General Fund expenditures
will increase by $25,000 for unexpected benefit payouts to the Finance Director and Accounting
Manager. Transfers Out will increase by $1,535,000 for the Windsong Ranch Fire Station to be
funded from excess revenues over expenditures in the current fiscal year.
General Fund
Revenues:
Chapter 380 Agreement Revenue
Expenditures:
Chapter 380 Agreement Expenditures
Finance Expenditures
Transfer Out to CIP Fund
Original
Budget
Total' $ - $
$ 14,000 $
781,143
Total $ 795,143 $
Current Amended Increase
Budget Budget (Decrease)
$ 32,000
$
32,000
$ 32,000
$
32,000
14,000 $ 31,000
$
17,000
781,143 806,143
25,000
- 1,535,000
1,535,000
795,143 $ 2,372,143
$
1,577,000
REASON FOR ADUSTING THE ESCROW BUDGET APPROPRIATION
The Town received a developer contribution to be escrowed for Coleman Street (Prosper Trail
to Preston) in the amount of $55,000. This amendment will appropriate funds to transfer to the
CIP Fund from Escrows for additional funding on this project.
Escrow Fund Original Current Amended Increase
Budget Budget Budget (Decrease)
Revenues:
Escrow Revenue $ - $ - $ 55000 $ 55,0001
Total $ $ - $ 55,000 $ 55,000
Expenditures:
Escrow Expenditure $ - $ - $ 55,000 $ 55,000
Total $ $ $ 55,000 $ 55,000
REASON FOR ADJUSTING THE CIP APPROPRIATION
Transfers In to the CIP fund will increase by $1,590,000 for the Windsong Ranch Fire Station
and Coleman Street (Prosper Trail to Preston). In addition, the Town entered into an interlocal
agreement with Collin County for $1,412,500 funding to be used for the Coleman Street project.
This budget amendment will appropriate the funds for both the Windsong Ranch Fire Station
and Coleman Street (Prosper Trail to Preston) projects.
Ordinance No. 15-43, Page 3
CIP Fund Original Current Amended Increase
Budget Budget Budget (Decrease)
Revenues:
Transfer in $ 1,140,000 $ 1,140,000' $ 2,730,000 $ 1,590,000
Interlocal Revenue - 1,412,5001 1,412,500
Total $ 1,140,000 $ 1,140,000 $ 4„142„500 $ 3,002,500
Expenditures:
Windsong Ranch Fire Station $ 5,050,500 $ 5,050,500 $ 7,200,000 $ 2,149,500
Coleman Street (Prosper Trail to Preston) 1,560,900' 1,560,900 3,028,400 1,467,500
Total $ 6,611,400 $ 6,611,400 $10,228,400 $ 3,617,000
Ordinance No. 15-43, Page 4