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A resolution appropriating to a certain account for the benefit of the Metropolitan Transit Authority in the amount of Eight Million Dollars ($8,000,000).
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WHEREAS, the Operating Budget Ordinance for Fiscal Year 2024, enacted pursuant to Substitute Ordinance BL2023-1867, contained an appropriation from the General Fund Surplus Fund Balance to the Metropolitan Transit Authority (the “MTA”) in the amount of $12,200,000 for “Murfreesboro Pike - BRT Construction Planning”; and,
WHEREAS, in accordance with the Fund Balance Reserve Policies of The Metropolitan Government of Nashville and Davidson County, as last amended pursuant to Resolution No. RS2025-1139, the Director of Finance was required to review certain unutilized Surplus Fund Balance appropriations for their continued need and if such need no longer existed, was authorized “to “return [the] appropriations back to the fund from which they were originally allocated”; and,
WHEREAS, MTA has advised the Director of Finance that not all of the funds for “Murfreesboro Pike - BRT Construction Planning” are presently needed, and that there is a greater need to use a portion of the allocated surplus funding for the purchase of replacement busses, busses chassis, and paratransit vehicles for MTA; and,
WHEREAS, the Metropolitan Council accordingly desires to appropriate to a certain account for the benefit of the Metropolitan Transit Authority an amount of Eight Million Dollars ($8,000,000) from the undesignated fund balances of the General Fund of the General Services District for the purposes described herein.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the following amount from the Undesignated Fund Balance of the General Fund of the General Services District is hereby appropriated:
|
PRIMARY EXPENDITURE ACCOUNT # |
ACCOUNT DESCRIPTION |
AMOUNT |
|
30196.78xxxxxx |
Metropolitan Transit Authority |
$8,000,000 |
|
|
TOTAL |
$8,000,000 |
Section 2. That the appropriation in Section 1 is funded from the following source:
|
REVENUE ACCOUNT # |
ACCOUNT DESCRIPTION |
AMOUNT |
|
10101.335000 |
GSD General Fund - Undesignated Fund Balance |
$8,000,000 |
|
|
TOTAL |
$8,000,000 |
Section 3. That this resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution appropriates $8,000,000 from the undesignated fund balance to General Fund of the General Services District to the Metropolitan Transit Authority (“MTA”).
Substitute Ordinance No. BL2023-1867, the operating budget ordinance for Fiscal Year 2024, contained an appropriation from the General Fund Surplus Fund Balance to MTA in the amount of $12,200,000 for “Murfreesboro Pike - BRT Construction Planning.”
In accordance with the Metropolitan Government’s Fund Balance Reserve Policies, the Director of Finance reviewed this appropriation for its continued need with the authority to return the appropriation back to the fund from which it was allocated if that need no longer existed. MTA advised the Director of Finance that not all of the funds are presently needed, but that a greater need exists to use part of the allocated surplus funding to purchase replacement buses, bus chassis, and paratransit vehicles for MTA.