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HomeMy WebLinkAboutPR 23521: APPROVAL OF JEFFERSON CENTRAL APPRAISAL DISTRICT FUNDING ALLOCATION ber (!Y! /IlttlY www.PortArthurTx.gov INTEROFFICE MEMORANDUM Date: 12/19/2023 To: The Honorable Mayor and City Council Through: Ron Burton, City Manager From: Lynda Boswell, Director of Finance RE: PR No. 23521 - Approval of Jefferson Central Appraisal District Funding Allocation Introduction: The intent of this Agenda Item is to seek the City Council's approval for the funding allocation for Jefferson Central Appraisal District in the amount of$261,584.66. Background: The Appraisal District is supported solely by payments from the local taxing units served by the district. The Texas Property Tax Code requires each taxing unit participating in the Appraisal District to share in the budget in an amount equal to their proportion of the total dollar amount of property taxes imposed in the district by unit. The City's pro-rata share of the budget is calculated based on the City's share of the 2023 proposed entity allocations ($280,323.50) less the City's share of the Appraisal District's beginning fund balance ($18,738.84) The proposed entity allocations were allocated based on the 2023 tax levy and the beginning fund balance allocations were based on the 2022 levy. The Jefferson Central Appraisal District net budget for fiscal year 2024 is $7,059,688.00 and the City's pro- rata share is estimated to be $261,584.66 which is 3.7478% of the total budget. Budget Impact: Funds are available in the Finance Department Account Number 001-07- 015-5420-00-10-000, payable in quarterly installments. Recommendation: It is recommended that City Council approve the funding allocation for Jefferson Central Appraisal District, as discussed and/or outline above. "Remember. Ne are here to serve the Citizens of Port Arthur" P.O.Box 1089 X Port Arthur,Texas 77641-1089 X 409.983.8101 X FAX 409.982.6743 P.R. NO 23521 12/19/2023 RESOLUTION NO. A RESOLUTION AUTHORIZING THE 2023-2024 JEFFERSON CENTRAL APPRAISAL DISTRICT FUNDING ALLOCATION IN AN AMOUNT OF S261,584.66 FROM ACCOUNT NO. 001-07-015-5420-00-10-000 WHEREAS. Section 6.06 of the Texas Property Tax Code requires each taxing unit participating in the Appraisal District to share in the budget equal to the proportion of the total dollar amount of property taxes imposed in the district by unit; and WHEREAS, the Jefferson Central Appraisal District 2023 budget is $7,059,688.00, and the City's pro-rata share is $261,584.66 or 3.7478%; and WHEREAS, the City's pro-rata share of the budget is calculated based on the City's share of the 2023 proposed entity allocations ($280,323.50) less the City's share of the Appraisal District's beginning fund balance ($18,738.84) The proposed entity allocations were allocated based on the 2023 tax levy and the beginning fund balance allocations were based on the 2022 levy. (See Exhibit"A"). NOW THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PORT ARTHUR: Section 1. That the facts and opinions in the preamble are true and correct. Section 2. That the City Council authorizes the payment of the City's share of the Jefferson Central Appraisal District 2023-2024 funding allocation in the amount of$261,584.66, payable in quarterly installments. Section 3. That a copy of the caption of this Resolution shall be spread upon the Minutes of the City Council. READ,ADOPTED,AND APPROVED,this 19th day of December, 2023 AD.at a Regular Meeting of the City Council of the City of Port Arthur. Texas by the following vote: AYES: Mayor: Councilmembers: NOES: Thurman"Bill" Bartie, Mayor ATTEST: Sherri Bellard. City Secretary APPROVED AS TO FORM: 02) 714(41Valecia izeno, City Attorney APPROVED FOR ADMINISTRATION: Ron Burton, City Manager syrtiot4) tgatektAX Lynda Boswell;Pirector of Finance EXHIBIT "A" • C 01 O, to ,D O, en N N VD CDN o VD into .• N N en 0 0 Vt 1D 1D N 00 et 0o 00 a CD iO o0 00 d en en Sc .• en EO .•. cn — Net in ON a N oN .+ O — cn 0 of 00 en N Sc oo N o0 ScSi 00 00 Sc N 0 et en et en O •• V1 O N Vl O V1 N O en 01 .•• N et O 00 0 et = N .. N in O.N en VD VD en ,D N c .10 et en %0 N N in e- Sc .-e Sc N 01 N en et Sc > N R N N-LeiN ,-O .--1 64 Os en 00 kin C \0 N 00 e{t`N 69 en Ni'en En N 4 N ne _ Ni�e� en O U 0 NN1D 0%69 Os .+ oo et 0 Mr -m-' 64 En N c�•10 N64 .m- � G9 69 iit 6969 0 �{ a N _� 6N4 �69 N4 et 6699 EA 49 49 64 64 64 . 69 6A EA m+ ,, may 64 44 a . 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