HomeMy WebLinkAboutResolution 4949-06-2018 A Resolution
NO. 4949-06-2018
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6
(PARK GLEN PID)
FOR FISCAL YEAR 2017-2018
WHEREAS, pursuant to Resolution No. 2456, the City Council reestablished the Fort Worth
Public Improvement District No. 6 (the "Park Glen PID") on September 29, 1998; 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 Park Glen PID pursuant to M&C BH-373; and
WHEREAS, pursuant to City Secretary Contract No. 49785, the City has contracted with
FirstService Residential Texas Inc., ("FirstService")to manage the day-to-day administration of the Park
Glen 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 FirstService the responsibility for preparing the annual budget and five-year service
plan for the Park Glen 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 FirstService 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 Park Glen 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 Park Glen PID is hereby amended and
approved for the remainder of the 2017-2018 fiscal year in accordance with Exhibit"A"which is attached
hereto.
ORT WORT
Resolution No.4949-06-2018
This Resolution shall take effect immediately following its adoption.
Adopted this 261h day of June, 2018.
ATTEST:
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By: _______
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Rona d P. Gonzales, Assistant City Secretary _
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Exhibit "A"
AN AMENDED BUDGET FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6
(PARK GLEN PID)
FOR FISCAL YEAR 2017-2018
REVENUES FY17/18
PID Assessments $1,537,587
COFW Payment in lieu of Services $199.556
Use of Fund Balance $132,153
Total Revenue $1,869,296
EXPENSES
Management Fee(Admin.) $125,924
Utilities $215,000
Landscape Maintenance $729,694
Common Area Maintenance $446,711
Holiday Lightning $19,000
Security Enhancements $143,000
Communication/Newsletter $6,500
Public Events $32,200
Capital Improvements $95,000
Insurance $23,415
Annual Review $2,100
City Administrative Fee $30,752
Total Expenses $1,869,296
Fbn%bvii
City of Fort Worth
Five Year Service Plan
Public Improvement District No.6-Park Glen
MID YR ADJ
FYI 7118 FY17/18 FYI 9/20 FY20/21 FY21122 FY22/23
REVENUES
PID Assessments $1,537,587 $1,537,587 $1,537,587 $1,537,587 $1,537,587 $1,537,587
COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556 199,556
Budget Revenues $1,737,143 $1,737,143 $1,737,143 $1,737,143 $1,737,143 $1,737,143
Use of Fund Balance 87,153 132,153
Total Revenues $1,824,296 $1,869,296 $1,737,143 $1,737,143 $1,737,143 $1,737,143
EXPENSES
Management Fee 125,924 125,924 128,402 128,402 128,402 128,402
Utilities 215,000 215,000 215,000 215,000 215,000 215,000
Landscaping Maintenance 729,694 729,694 729,752 718,774 722,094 717,194
Common Area Maintenance 446,711 446,711 379,500 381,500 373,180 386,580
Holiday Lighting 19,000 19,000 19,000 20,000 20,000 20,000
Security Enhancements 143,000 143,000 143,000 143,000 143,000 143,000
Communication/Newsletter 6,500 6,500 6,500 7,000 7,000 7,000
Public Events 32,200 32,200 32,200 32,200 32,200 32,200
Capital Improvements 50,000 95,000 30,000 35,000 40,000 31,500
Insurance 23,415 23,415 23,415 23,415 23,415 23,415
Annual Review 2,100 2,100 2,100 2,100 2,100 2,100
City Administrative Fee 30,752 30,752 30,752 30,752 30,752 30,752
Budget Expenses 1,824,296 1,869,296 1,739,621 1,737,143 1,737,143 1,737,143
Contribution to Fund Balance - - - - -
Total Expenses $1,824,296 $1,869,296 $1,739,621 $1,737,143 $1,737,143 $1,737,143
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/26/2018 - Resolution No. 4949-06-2018 �Drdinanc�e.No.
23264-06-2018
DATE: Tuesday, June 26, 2018 REFERENCE NO.: **G-19309
LOG NAME: 13FMS PID6MIDYEARFY18
SUBJECT:
Adopt Resolution Amending the Fiscal Year 2018 Budget and Five-Year Service Plan for Public
Improvement District No. 6— Park Glen and Adopt Appropriation Ordinance (COUNCIL DISTRICT 4)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached resolution approving the revised Fiscal Year 2018 Budget and Five-Year Service
Plan for Public Improvement District No. 6— Park Glen 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 6— Park Glen Fund in the amount of$45,000.00, in Fiscal Year 2018
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 (City Secretary Contract (CSC) No. 49785) with FirstService Residential Texas, Inc.
(FirstService), to manage Public Improvement District No. 6 - Park Glen PID. FirstService has identified
the need to increase the Park Glen PID budget in the amount of$45,000.00 for a capital improvement
project. This project includes the installation of outdoor exercise stations along the existing trail on City
parkland. Phase One of the project included installing the equipment pads and this has been completed.
Phase Two of the projects is to install the exercise stations.
Revenue adjustments:
Line Items to be Adjusted Previously Approved FYI Recommended Mid-Year Amended FY18 Budget
Budget Item Adjustment Item
Special Assessments 1,537,587.00 0.00 $1,537,587.00
COFW Payment in lieu of 199,556.00 0.00 $ 199,556.00
Services
Logname: 13FMS PID6MIDYEARFYI8 Page I of 2
Use of Fund Balance � 87,153.00 {$ 45,000.00 132,153.00
otal Budget Revenue 1,824,296.00 45,000.00 1,869,296.00
Expenditure Adjustments:
Line Items to be Previously Approved FYI Budget Recommended Mid-Year Amended FY18 Budget
Adjusted Item I Adjustment Item
Contractual Services $1,793,544.00 45,000.00 1,838,544.00
ransfer Out F$-30,752.00 0.00 30,752.00
otal Budget Expense $1,824,296.00 45,000.00 1,869,296.00
Staff recommends an increase of$45,000.00 in the Park Glen PID budget to allow for the installation of
exercise stations. 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 2018 will be
$1,869,296.00. This mid-year budget adjustment will decrease the unaudited, unassigned fund balance by
$45,000.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City
Council.
The Park Glen PID is located in COUNCIL DISTRICT 4.
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 $1,824,296.00 to $1,869,296.00. After the appropriation of fund balance,
PID No. 6 will still maintain compliance with the reserve requirements.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project JProgram ctivity Budget Reference # mount
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 PID6MIDYEARFY18 Page 2 of 2