HomeMy WebLinkAboutResolution 3826-12-2009A Resolution
NO 3826-12 2009
APPROVING AN AMENDED FISCAL YEAR 2010 BUDGET FOR
PUBLIC IMPROVEMENT DISTRICT NO 8 (CAMP BOWIE PID)
WHEREAS, on September 8 2009 pursuant to M&C BH 243 the City Council adopted a
budget and service plan for Public Improvement Distract No 8 (Camp Bowie PID) and
WHEREAS, it is now necessary to amend the Camp Bowie PID s fiscal year 2010 budget to
reflect the full costs of operating the PID• and
WHEREAS, approval of such amended budget will not require supplemental assessments on
property located m the PID
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS
1 THAT the amended fiscal year 2010 budget for the Camp Bowie PID which is attached
hereto is hereby approved.
2. THAT this Resolution shall take effect immediately from and after its adoption.
AND IT IS SO RESOLVED
Adopted this 15th day of December, 2009
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CITY COUN
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DEC Y ~ 2009
City Sec~of the
City of Fort Worth, Texas
ORT WORr,H
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RESOLUTION NO 3826-12-2009
City of Fort Worth
PROPOSED FIVE YEAR SERVICE PLAN
Public Imp rovement District N o 8 CAMP BOWIE
APPROVED AMENDED
FY09/10 FY09/10 FY10/11 FY1112 FY12/13 FY13/14
REVENUES
PID Assessment $400,000 $400,000 $410,000 $420,000 $430,000 $440 000
Prior Year's Assessment $405,852 $405,852 $132,254 $53,454 $53,754 $34,354
Total Revenues $805,852 $805,852 $542,254 $473,454 $483,754 $474,354
EXPENSES
Management Fee $69,975 $69,975 $75,000 $80,000 $85,000 $90,000
Landscape & Maintenance $56,800 $56,800 $60,000 $62,000 $64,000 $68,000
Comm/Newsletters $20,000 $20,000 $20,000 $20,000 $22,000 $22,000
Marketing $20,000 $20,000 $25,000 $30,000 $33,000 $35,000
Economic Development $165,223 $165,223 $100,000 $90,000 $80 000 $95,000
Public Events $50,000 $73 000 $55,000
Capital Improvements $176,000 $176,000 $80 000 $70,000 $105,000 $116,699
Professional Services $97 000 $97,000 $55,000 $48,000 $40,000 $48,248
Insurance $4100 $4100 $4100 $4,500 $4,800 $5,240
Audit $6,500 $6,500 $6,500 $6,800 $7,000 $7 500
City Administrative Fee 8 000 8 000 8 200 8 400 8 600 8 800
Budget Expenses $673,598 $696,598 $488,800 $419,700 $449,400 $496,487
Estimated Operating Reserve 132,254 109,254 53,454 53,754 34,354 22,133
Total Expenses $805,852 $805,852 $542,254 $473,454 $483,754 $474,354
City of Fort Worth, Texas
Mayor and Council Communication
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COUNCIL ACTION: Approved on 12/15/2009 -Res. No. 3826-12-2009
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DATE Tuesday December 15 2009 REFERENCE NO *G-16794
LOG NAME 17PID 8 BUDGET AMENDMENT ONE
SUBJECT
Adopt a Resolution Amending the Fiscal Year 2009-2010 Budget of Public Improvement District No 8
Camp Bowie by $23 000 00 from Prior Year's Assessments
RECOMMENDATION
It is recommended that the City Council adopt the attached resolution amending M&C BH-243 Ordinance
No 18795-09-2009 to increase the public events amount in the Fiscal Year 2009-2010 budget for Public
Improvement District No 8 Camp Bowie by $23 000 00 from prior year's assessments (Estimated
Operating Reserve).
DISCUSSION
On September 8 2009 the City Council adopted M&C BH-243 approving the Fiscal Year 2009-2010
budget and five year service plan for the Camp Bowie Corridor PID The City Council also authorized a
contract with Camp Bowie District, Inc. to provide management services for the PID during Fiscal Year
2009-2010
The Fiscal Year 2010 approved budget is outlined below
Improvements
Management Fee
Landscape and Maintenance
Communication/Newsletters
Marketing
Economic Development
Public Events
Capital Improvements
Professional Services
Insurance
Audit
City Administrative Fee
Budget Expenses
Estimated Operating Reserve
Total Expenses
Total Budgeted Costs
$69 975 00
$56 800 00
$20 000 00
$20 000 00
$165 223 00
$50 000 00
$176 000 00
$97 000 00
$4 100 00
$6 500 00
$8 000 00
$673,598 00
$132,254.00
$805 852.00
As described in the City's Policy and Guidelines for Public Improvement Districts (PIDs) the City staff
conducts review of the annual budgets and recommends amendments as needed so that actual PID
expenditures correspond with budgeted expenses These amendments may allow for additional proposed
PID expenses that were not included in the original budget if funds are available PID No 8 is requesting a
budget amendment to cover the 2009 Jazz Festival deficit that resulted from the cancellation.,of events
Logname• 17PID 8 BUDGET AMENDMENT ONE Page 1 of 2
and low overall attendance due to the rainy weather this past September 2009
The current operating reserve for the Camp Bowie PID is $132,254 00 The amendment will increase the
Public Events line item by $23 000 00 from $50 000 00 to $73 000 00 The estimated operating reserve
will decrease by $23 000 00 from $132,254 00 to $109,254 00 This budget amendment is being made in
order to offset losses incurred from the Jazz by the Boulevard event. A break down of the revenues and
expenditures for the event are outlined below detailing the shortfall
Total Jazz Revenue $288 188 00
Jazz Expenses
Professional Fees $45 000 00
Operations $3 626 00
Marketing/Advertising $21 599 00
Event Entertainment $154 705 00
Costs of Goods Sold $10 913 00
Office Expenses 5 346.00
Total $311 189 00
Net Loss ($23,000 00)
PID No 8 is located in COUNCIL DISTRICTS 3 and 7
FISCAL INFORMATION /CERTIFICATION
The Financial Management Services Director certifies that funds are available in the current operating
budget, as appropriated of the Special Assessment District Fund
FUND CENTERS
TO Fund/Account/Centers
CERTIFICATIONS
Submitted for City Manager's Office b~
Originating Department Head.
Additional Information Contact:
FROM Fund/Account/Centers
GS87 539120 002508002000 $23,000.00
Thomas Higgins (6140)
Jay Chapa (6192)
Sylvia Flores (8550)
Logname 17PID 8 BUDGET AMENDMENT ONE Page 2 of 2