Title
Consider/Discuss/Act on an Ordinance Amending the Fiscal Year 2015-2016 Annual Budget to Provide Funds for the Improvements of an Airport Hangar
Summary
COUNCIL GOAL: Maximize Airport Development Potential
MEETING DATE: June 7, 2016
DEPARTMENT: Airport Fixed Base Operations
CONTACT: Ken Wiegand, Director of McKinney National Airport
Mark Jaraczewski, Assistant Director of McKinney National
Airport
RECOMMENDED CITY COUNCIL ACTION:
• Approval of Ordinance
ITEM SUMMARY:
• This Ordinance amends the Fiscal Year 2015-2016 Annual Budget by appropriating $200,000 from fund balance in the Airport Fund that will be used for improvements of an airport hangar.
BACKGROUND INFORMATION:
• Tenant has exercised intent to pursue additional hangar improvements under terms of contract. Hangar improvements are expensed to tenant through the remainder term of the lease.
FINANCIAL SUMMARY:
• This Ordinance amends the Fiscal Year 2015-2016 Annual Budget by appropriating $200,000 from Airport fund balance.
BOARD OR COMMISSION RECOMMENDATION: N/A