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CITY OF KYLE, TEXAS
Budget Amendment No. 3 for FY 2016-17 to Appropriate $556,500 for Purchase of a S/F Home in Cypress Forest Subdivision
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Meeting Date: 12/16/2016
Date time:9:00 AM |
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Subject/Recommendation: |
(First Reading) Approve an Ordinance amending the City's Approved Budget for Fiscal Year 2016-17 (Budget Amendment No. 3) by increasing total appropriations for expenditures in the General Fund by $556,500 and decreasing the fund balance in the General Fund by the same amount in order to provide funding for the purchase of a newly constructed single family home located in the Cypress Forest subdivision in Kyle, Texas, including estimated closing costs to be owned and managed by the City of Kyle. ~ Perwez A. Moheet, CPA, Director of Finance |
Other Information: |
Budget Amendment No. 3, if approved by City Council, will amend the City's Approved Budget for Fiscal Year 2016-17 by increasing total appropriations for expenditures in the General Fund by $556,500 and decreasing the fund balance in the General Fund by the same amount in order to provide funding for the purchase of a newly constructed single family home located in the Cypress Forest subdivision in Kyle, Texas, including estimated closing costs to be owned and managed by the City of Kyle.
The breakdown of the budget amendment totaling $556,500 is as follows:
- Sales Price: $550,000
- Estimated Closing Costs: 6,500
- Total Budget Amendment: $556,500
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Legal Notes:
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Budget Information:
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Ordinance to amend the FY 2016-17 approved budget is attached.
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