HomeMy WebLinkAboutResolution 4942-06-2018 A Resolution
NO. 4942-06-2018
APPROVING AN AMENDED BUDGET AND FIVE YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 14
(TRINITY BLUFF PID)
FOR FISCAL YEAR 2017-2018
WHEREAS, pursuant to Resolution No. 3748-06-2009 the City Council established the Fort
Worth Public Improvement District No. 14 (the"Trinity Bluff PID") on June 16, 2009; and
WHEREAS,in accordance with Chapter 372 of the Texas Local Government Code,on September
12, 2017 the City Council approved a budget for the 2017-2018 fiscal year and a five-year service plan
for the Trinity Bluff PID pursuant to M&C BH-370; and
WHEREAS, pursuant to City Secretary Contract No. 49993, the City has contracted with the
Downtown Fort Worth Inc. ("DFWI"), to manage the day-to-day administration of the Trinity Bluff PID
for the 2017-2018 fiscal year; and
WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the
City has assigned to DFWI the responsibility for preparing the annual budget and five-year service plan
for the Trinity Bluff PID; and
WHEREAS, in accordance with the City's Policy and Guidelines for Public Improvement
Districts ("PIDs"), adopted by the City Council pursuant to Resolution No. 4905-02-2018, 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 DFWI 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 Trinity Bluff PID for the 2017-2018 fiscal year;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH,TEXAS THAT:
1. The Budget and Five Year Service Plan for the Trinity Bluff PID is hereby amended and
approved for the remainder of the 2017-2018 fiscal year in accordance with Exhibit"A"which is attached
hereto.
FORTWORTH
Resolution No.4942-06-2018
2. This Resolution shall take effect immediately following its adoption.
Adopted this 51h day of June 2018.
ATTEST:
pF FORT
By:
Mary J. Kay4r Sec t U' _
T�p,S
FoRTWORTH
Exhibit A
AN AMENDED BUDGET FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 14
(TRINITY BLUFF PID)
FOR FISCAL YEAR 2017-2018
REVENUES FY17/18
PID Assessments $65,019
Use of Fund Balance $57,541
Total Revenue $122,560
EXPENSES
Management Fee(Admin.) $12,700
Utilities $500
Landscape $52,400
Litter Abatement $3600
Security $23,360
Marketing $1000
Tree Lighting $27,000
Capital Improvements $0
City Administrative Fee $2000
Total Expenses $122,560
RTWO "�
DOWNTOWN FORT WORTH, INC.
FIVE YEAR SERVICE PLAN FORT WORTH®
. PUBLIC IMPROVEMENT DISTRICT# 14- FORT WORTH
2017-18 to 2021-22
MID YR AD1
FY 17-18 FY 17-18 FY 18-19 FY 19-20 FY 20-21 FY 21-22
REVENUES
PID Assessments 65,019 65,019 66,319 67,646 68,999 70,379
Use of Fund Balance 5,541 57,541 5,612 5,684 5,758 5,833
TOTAL REVENUES 70,560 122,560 71,931 73,330 74,756 76,212
EXPENSES
Management Fee 12,700 12,700 12,954 13,213 13,477 13,747
Utilities 500 500 510 520 531 541
Landscaping 27,400 52,400 27,948 28,507 29,077 29,659
Litter Abatement 3,600 3,600 3,672 3,745 3,820 3,897
Ambassador Program 23,360 23,360 23,827 24,304 24,790 25,286
Marketing 1,000 1,000 1,020 1,040 1,061 1,082
Tree Lighting - 27,000 - - - -
City Administration Fee 2,000 2,000 2,000 2,000 2,000 2,000
TOTAL EXPENSES 70,560 122,560 71,931 73,330 74,756 76,212
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/5/2018 -Ordinance No. 23226-06-2018 & Resolution No.
4942-06-2018
DATE: Tuesday, June 5, 2018 REFERENCE NO.: **G-19291
LOG NAME: 13FMS PID14MIDYEARFY18
SUBJECT:
Adopt Resolution Amending the Fiscal Year 2017-2018 Budget and Five-Year Service Plan for Public
Improvement District No. 14—Trinity Bluff and Adopt Appropriation Ordinance (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached resolution approving the revised Fiscal Year 2017-2018 Budget and Five-Year
Service Plan for Public Improvement District No. 14—Trinity Bluff to reflect amendments associated with a
mid-year review; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort
Worth Public Improvement District 14 -Trinity Bluff Fund in the amount of$52,000.00, from available
unreserved fund balance.
DISCUSSION:
The City of Fort Worth Department of Financial Management Services administers the City's Public
Improvement Districts (PIDs) in accordance with Chapter 372 of the Texas Local Government Code. The
City's PID Policy outlines the need to proactively work with the PID managers to oversee the services
being provided by the PIDs and their associated financial positions. Staff, along with the contracted PID
management companies, have conducted mid-year reviews of the annual budget and will recommend
adjustments, as needed.
The City contracts with Downtown Fort Worth, Inc. (DFWI) to manage the Trinity Bluff PID. DFWI has
identified the need to increase the Trinity Bluff PID budget in the amount of$25,000.00 for landscaping
and $27,000.00 for tree lighting. The increased funding for landscaping includes improvements to the
lawn, irrigation system, and landscaping of Charles Nash Elementary School (Nash). Nash is the
neighborhood's civic statement piece and plays an important role in setting the neighborhood tone;
therefore, this project confers a special benefit on the properties withinin the Trinity Bluff PID. The
additional lighting along Peach Street would continue lighting from a previous project from last year.
Line Items to be Previously Recommended Amended FY18 Budget
Adjusted Approved FY18 Mid-Year Item
Budget ItemAdjustment _
pecial Assessments (�- — $65,019.00(- $0.00 $65,019.00
Pse of Fund Balance $5,541.001—-- $52,000.00 $57,541.00
Total Budget $70,560.00 $52,000.00 $122,560.00
Revenue
Logname: 13FMS PID14MIDYEARFY18 Page 1 of 2
Line Items to be Previously Recommended Mid- Amended FY18 Budget
Adjusted pproved FYI Year Adjustment Item
udget Item
ontractual Services $68,5601 $52,-000.001 $120,560.00
ransfer Out (-- - $2000x— so-00F_ $2000
Total Budget $70,560 $52,000.00 $122,560.00
f-xpense
Staff recommends an increase of$25,000.00 in the Trinity Bluff PID budget for landscaping and an
increase of$27,000.00 for tree lighting. All other previously approved line items not mentioned above
remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal
Year 2017-2018 will be $122,560.00. This mid-year budget adjustment will decrease the unaudited,
unassigned fund balance by $57,541.00. The revised Budget and Five-Year Service Plan will take effect
upon approval by City Council.
The Trinity Bluff PID is located in COUNCIL DISTRICT 9.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that approval of the above recommendations will increase the overall
Fiscal Year 2018 budget from $70,560.00 to $122,560.00. With the proposed changes to PID No. 14
budget they are still in compliance with the reserve requirements.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
FROM
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Aaron Bovos (8517)
Additional Information Contact: Angela Estrada (8511)
Logname: 13FMS PID14MIDYEARFY18 Page 2 of 2