The URL can be used to link to this page

Home My WebLink AboutResolution 3885-05-2010A Resolution NO 3885-05-2010 APPROVING AN AMENDED BUDGET FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO 8 (CAMP BOWIE PID) FOR FISCAL YEAR 2009-2010 WHEREAS, pursuant to Resolution No 3697 12 2008 the City Council re-established the Fort Worth Public Improvement Distract No 8 (the "Camp Bowie PID") on December 2, 2008 and WHEREAS in accordance with Chapter 372 of the Texas Local Government Code, on September $ 2009 the City Council approved a budget for the 2009-2010 fiscal year and a five year service plan for the Camp Bowie PID pursuant to M&C BH 243 and WHEREAS pursuant to City Secretary Contract No 39346 the City has contracted with Camp Bowie Distract, Inc. ("CBDI") to manage the day to-day admimstrahon of the Camp Bowie PID for the 2009-2010 fiscal year and WHEREAS in accordance with Section 372 013(a) of the Texas Local Government Code, the City has assigned to the CBDI the responsibility for preparing the annual budget and five year service plan for the Camp Bowie PID• and WHEREAS m accordance with the City's Policy and Guidelines for Public Improvement Distracts ("PIDs"), adopted by the City Council pursuant to Resolution No 3711-02 2009 City staff annually conducts mid-year reviews of all PID budgets to ensure that actual PID expenditures correspond with budgeted expenses, and WHEREAS in consultation with the CBDI regarding actual PID expenditures and necessary programs and services required to date, City staff recommends that the City Council approve an amended budget for the Camp Bowie PID for the 2009-2010 fiscal year NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT 1 The following amended budget for the Camp Bowie PID is hereby approved fox the remainder of the 2009 2010 fiscal year ~ORT,~W4~T,i~ -r RESOLUTION NO 3885-05-2010 Line Item Previously Recommended Amended Approved Mid Year Budget Budget Adjustments Management $69 975 $0 $69 975 Fee Landscape & $56 800 $30 000 $86 800 Maintenance Communication $20 000 $0 $20 000 s/Newsletters Marketing $20 000 $12 000 $32 000 Economic $165 223 $0 $165 223 Development Public Events $50 000 $0 $50 000 Capital $176 000 $0 $176 000 Improvements Professional $97 000 ($44 000) $53 000 Services Insurance $4 100 $0 $4 100 Audit $6 500 $2 000 $8 500 City $8 000 $0 $8 000 Administrative Fee Estimated $132,254 $0 $132 254 Operating Reserve TOTAL $805 852 $805 852 ORT~VORT _s_ RESOLUTION NO 3885-05-2010 2 This Resolution shall take effect immediately following its adoption Adopted this 18th day of May 2010 ATTEST ~ ±3"~!'~``~~,. ~*.y ~' ~ s ~ ~,,, y ~~-\~ ~ , --~ ~ - - - - =-------- MAY 18 2014 .. r ~ .~ Martyilendrix ~' ~ ,~ I.w City Secret dry ' J~ T ~ VT l` t ~-~+ r. ~„`~ .~.. ~ ~ ,~` : City Secretary of the City of Fort Worth,l'exas ,~ ;~fi a4~a ORT W4 ,~.. RESOLUTION NO 3885-05-2010 REVENUES PID Assessment Prior Year's Assessment Total Revenues EXPENSES Management Fee Landscape & Maintenance Comm/Newsletters Marketing Economic Development Public Events Capital Improvements Professional Services Insurance Audit City Administrative Fee Budget Expenses Estimated Operating Reserve Total Expenses City of Fort Worth PROPOSED FIVE YEAR SERVICE PLAN Public Improvement District No 8 CAMP BOWIE FY09/10 FY10/11 FY1112 FY12/13 FY13/14 $400 000 $410,000 $420 000 $430 000 $440,000 $405,852 $132,254 $53,454 $53,754 $34,354 $805,852 $542,254 $473,454 $483 754 $474,354 $69,975 $75,000 $80 000 $85,000 $90 000 $86,800 $60,000 $62,000 $64 000 $68,000 $20 000 $20 000 $20 000 $22,000 $22,000 $32,000 $25,000 $30 000 $33,000 $35 000 $165,223 $100,000 $90 000 $80,000 $95,000 $50 000 $55 000 $176,000 $80 000 $70,000 $105,000 $116 699 $53,000 $55,000 $48,000 $40 000 $48,248 $4100 $4100 $4,500 $4,800 $5,240 $8,500 $6,500 $6,800 $7,000 $7,500 8 000 8 200 8 400 8 600 8 800 $673,598 $488,800 $419,700 $449,400 $496,487 132,254 53,454 53,754 34,354 22,133 $805 852 $542,254 $473,454 Jt.Venture Grant $65,223 Develop. Standards $80 000 CBW Plan $10 000 Security $10 000 Total $165,223 $483,754 $474,354 City of Fort Worth, Texas Mayor and Council Communication C©UNCIL ACTIN: ,,Approved on 5/18/2010 -Res. No. 3885-05-2010` DATE Tuesday May 18 2010 LOG NAME 17PID8NEWBUDFY10 REFERENCE NO G-16936 SUBJECT Adopt a Resolution Approving Revised Fiscal Year 2009-2010 Budget and Service Plan for Public Improvement District No 8 (Camp Bowie PID) (COUNCIL DISTRICTS 3 and 7) RECOMMENDATION It is recommended that the City Council adopt the attached Resolution approving a revised 2009-2010 Fiscal Year Budget and Service Plan for Public Improvement District No 8 (Camp Bowie PID). DISCUSSION On September 8 2009 (M&C BH-243) the City Council adopted a Budget and Service Plan for the Camp Bowie PID for the 2009-2010 Fiscal Year The City of Fort Worth's (City) Policy and Guidelines for Public Improvement Districts (PIDs) provides for City staff to administer and oversee all PIDs. The staff conducts amid-year review of the annual budgets of all PIDs and recommends adjustments as needed so that actual PID expenditures reasonably correspond with budgeted expenses If funds are available after collection of final assessments these adjustments may allow for additional proposed PID projects that were discussed in the City Council's public hearing concerning the assessments but that were not included in the original budget. The proposed revisions to the Camp Bowie PID Budget and Service Plan for the 2009-2010 Fiscal Year with corresponding explanations are as follows __~ . _ r,. F Line Item ,: ~ Approved ...:::::: ry Mid-Year ~ Revised Budget Adju stments Budget ~~Management Fee $69 975 00~ 0 ! $69 9'75 00 1 LandscapelMaintenance ~ . $56,800 OOE ~~ $30.000 00; ~~$86,800 00~~ ,_ _ ~ ~~Comm/Newsletters i $20 000 00` 0 $20 000 00 ~ 2. Marketm ~ 20,000 00' $12,000 00' ::. $32 000 OO i ~~Economic Development ~ ~ _.w .. _....~ .. ~ _~,$165.223 00 ~_..._. 0 ,$165,223 00 _~ 'jPublic Events $50 000 00 0? ~~ _ $50 000 00?[ ~~Capital Improvements ~ FE $176 000 00' ~ 0~ ~ ~ $1,76 000 OO E __ 3. Audit $6,500 00 ~ $2,000 00`I $8,500 00 j __ Insurance _ ~.. _...~._ ~ .... _~.. $4 100 00'~ ~.~ _ ,.__.__ ~ 1._.. __~4 100 00;~ . .. . _ 4. Professional Services ._ $97,000 00' _ __ , _ _ _ .._ ($44,000)?i $53 000 00' City Administrative Fee .::: ,< $8 000 00;,~ _ O= _. . ~ $8 000 00, Logname: 17PID8NEWBUDFYIO Page 1 of 2 Estimated Operating $132,254 Reserve ~. TOTAL mm $805,852 $132,254 Explanation 1 A $30 000 00 increase in Landscape/Maintenance for expanded beautification along the Camp Bowie Corridor anine-mile-long area 2. A $12,000 00 increase to Marketing $10 000 00 for Holiday Lighting/Decorations and $2 000 00 for improvements to the web site 3 A $2 000 00 increase to Audit due to changes in the cost for this service and 4 A $44 000 00 decrease to Professional Services to shift the funds to Landscape/Maintenance Holiday Lighting/Decoration and Audit. Upon adoption of the resolution the revised budget and plan of service will take effect. The Camp Bowie PID is located in COUNCIL DISTRICTS 3 AND 7 FISCAL INFORMATION /CERTIFICATION The Financial Management Services Director certifies that this action will have no material effect on City funds. FUND CENTERS TO Fund/Account/Centers FROM Fund/Account/Centers CERTIFICATIONS Submitted for City Manager's Office b~ Thomas Higgins (6192) Oripinatina Department Head. Jay Chapa (5804) Additional Information Contact: Sylvia Flores (8550) Logname. 17PID8NEWBUDFYI O Page 2 of 2