Loading...
HomeMy WebLinkAbout162-18 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 162-18 File Number: 2018-0379 JET FUEL EMERGENCY FUNDING: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $380,000.00 TO APPROPRIATE EMERGENCY FUNDING FOR THE PURCHASE OF JET FUEL THROUGH THE END OF 2018 WHEREAS, the airport is currently at 90% utilization of its jet fuel expense budget due to a 40% increase in fuel sales over 2017 and an increase in the cost of fuel; and WHEREAS, airport staff believe an additional 20 loads of jet fuel will be needed through the end of the year and the increase in sales will generate additional revenue to offset the requested expense. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached to this Resolution, in the amount of $380,000.00 to appropriate emergency funding for the purchase of jet fuel through the end of 2018. PASSED and APPROVED on 8/7/2018 Approved: J Attest: Illllifq Sondra E. Smith, City Clerk Tim" grrR f.�s�1r�' ■ ■ ■ • ■ f -P � 9■f 9'4�[ANSP'.5�: y'NG `pN ` Page 1 Printed on 818118 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479)575-8323 Text File File Number: 2018-0379 Agenda Date: 8/7/2018 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 6 JET FUEL EMERGENCY FUNDING: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $380,000.00 TO APPROPRIATE EMERGENCY FUNDING FOR THE PURCHASE OF JET FUEL THROUGH THE END OF 2018 WHEREAS, the airport is currently at 90% utilization of its jet fuel expense budget due to a 40% increase in fuel sales over 2017 and an increase in the cost of fuel; and WHEREAS, airport staff believe an additional 20 loads of jet fuel will be needed through the end of the year and the increase in sales will generate additional revenue to offset the requested expense. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached to this Resolution, in the amount of $380,000.00 to appropriate emergency funding for the purchase of jet fuel through the end of 2018. City of Fayetteville, Arkansas Paye 1 Printed on 8/8/2018 City of Fayetteville Staff Review Form 20180379 Legistar File ID 8/7/2018 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Summer Fallen 7/18/2018 AIRPORT SERVICES (760) Submitted By Submitted Date Division / Department Action Recommendation: Staff is requesting approval of an emergency appropriation of 20 loads of jet fuel, and approval of a budget adjustment. Purchase Order Number: Change Order Number: Original Contract Number: Comments: V20180321 Previous Ordinance or Resolution # Approval Date: Budget Impact: 5550.760.3955-5213.02 Airport Account Number Fund Project Number Project Title Budgeted Item? Yes Current Budget $ 28,134.31 Funds Obligated $ - Current Balance $ 28,134.31 Does item have a cost? No Item Cost Budget Adjustment Attached? Yes Budget Adjustment $ 380,000.00 Remaining Budget $ 408,134.31 Purchase Order Number: Change Order Number: Original Contract Number: Comments: V20180321 Previous Ordinance or Resolution # Approval Date: CITY OF FAYETTEVILLE ARKANSAS MEETING OF AUGUST 7, 2018 TO: Mayor and City Council THRU: Don Marr, Chief of Staff Terry Gulley, Transportation Services Director FROM: Summer Fallen, Airport Services Manager DATE: July 18, 2018 CITY COUNCIL MEM© SUBJECT: Jet Fuel Expense Account Budget Adjustment RECOMMENDATION: Staff is rPouestina approval of an emergency appropriation of 20 loads of iet fuel, and approval of a budget adjustment. BACKGROUND/DISCUSSION: The airport is currently at 90% utilization of the jet fuel expense budget. This is due to a 40% increase in jet fuel sales from last year, and due to the cost increase of jet fuel itself. It is anticipated that the airport will need 20 more loads of jet fuel, at approximately $19,000.00 per load, to sustain through the end of the year with high volumes of traffic anticipated throughout football season. The increase in sales will in turn generate additional revenue to offset the requested expense. BUDGET/STAFF IMPACT: Staff is requesting funding for 20 more loads of jet fuel at $19,000.00, totaling a request of $380,00.00. Attachments: Staff Review Form City Council Memo BA Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar) Budget Year Division Adjustment Number AIRPORT SERVICES (760) 2018 /Org2 Requestor: Dee McCoy BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION: Staff is requesting approval of an emergency appropriation of 20 loads of jet fuel, and approval of a budget adjustment. The airport is currently at 90% utilization of the jet fuel expense budget. This is due to a 40% increase in jet fuel sales from last year, and due to the cost increase of jet fuel itself. It is anticipated that the airport will need 20 more loads of jet fuel, at approximately $19,000.00 per load, to sustain through the end of the year with high volumes of traffic anticipated throughout football season. The increase in sales will in turn generate additional revenue to offset the n COUNCIL DATE: 8/7/2017 LEGISTAR FILE ID#: 2018-0379 7/20/2018 10:24 AM Budget Director Date TYPE: DESCRIPTION: GLDATE: RESOLUTION/ORDINANCE POSTED: TOTAL 380,000 380,000 v.20180627 Increase / (Decrease) Proiect.Subfl' Account Number Expense Revenue Project Sub AT Account Name 5550.760.3940-4456.02 - 380,000 RE Aviation Fuel -Jet Fuel Revenues 5550.760.3955-5213.02 380,000 - EX Fuel -Jet Fuel H:\Budget\Budget Adjustments\2018_Budget\CITY_COUNCIL\2018-08-07\2018-0379 BA Jet Fuel 1 of 1