HomeMy WebLinkAboutOrdinance 23689-06-2019 Ordinance No.23689-06-2019
AN ORDINANCE DECREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 7 — HERITAGE FUND IN THE
AMOUNT OF $8,140.00 FROM UNAUDITED, UNRESERVED FUND BALANCE BY THE
SAME AMOUNT, FOR THE PURPOSE OF FUNDING THE FISCAL YEAR 2018-2019
ANNUAL OPERATING BUDGET; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING
THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH;AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2018-2019 in the
Budget of the City Manager, there shall also be decreased appropriations in Fort Worth Public Improvement
District 7—Heritage Fund in the amount of$8,140.00, from unaudited, unreserved fund balance by the same
amount, for the purpose of funding the Fiscal Year 2018-2019 annual operating budget.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair
the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 23392-09-2018 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORMA ALITY' CITY SECRETAP
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ssistant^C7DEFIFECTIVE:
ley Mary J. r
ADOPTED Jude 18, 2019
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/18/2019 - Resolution No. 6101-06-2019 & Ordinance No.
23689-06-2019
DATE: Tuesday, June 18, 2019 REFERENCE NO.: **G-19557
LOG NAME: 13PID 7 MIDYEAR FY19
SUBJECT:
Adopt Resolution Amending the Fiscal Year 2018-2019 Budget and Five-Year Service Plan for Public
Improvement District No. 7 - Heritage and Adopt Appropriation Ordinance (COUNCIL DISTRICT 4 & 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached resolution approving the revised Fiscal Year 2018-2019 Budget and Five-Year
Service Plan for Public Improvement District No. 7 — Heritage to reflect amendments associated with a
mid-year review; and
2. Adopt the attached appropriation ordinance decreasing estimated receipts and appropriations in the
Fort Worth Public Improvement District 7— Heritage Fund in the amount of$8,140.00 in Fiscal Year
2018-019, 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.
On August 21, 2018, the Fort Worth City Council considered Benefit Hearing 389 (BH-389), regarding the
assessment rates and budget for Public Improvement District 7 (Heritage). BH-389 proposed a total
annual budget of$2,357,597.00, consisting of$2,176,615.00 in Fiscal Year 2018-2019 assessment
revenues and $180,982.00 in use of fund balance, with proposed assessment rates of$0.20 per$100 of
value on residential property and $0.11 per $100 of value on commercial property.
Following a public hearing, BH-389 was approved with the assessment rate on residential property
reduced to $0.19 per$100 of value and no change in the total budget amount. Staff was asked to bring
back a revised appropriation ordinance that reflected the reduced revenue from residential assessments
and the use of additional fund balance to make up the difference, which equates to $94,763.00 in fund
balance.
FirstService Residential, Inc., who is responsible for managing PID 7, is now recommending that the City
(i) reduce the current capital improvement budget by $96,623.00 due to the timing of a certain project that
will be carried over to fiscal year 2020 and (ii) increase the security enhancements line item by $10,000.00
Logname: 13PID 7 MIDYEAR FYI Page 1 of 3
to account for mileage reimbursement. Due to these mid-year budget adjustments, the City only needs to
appropriate $8,140.00 in fund balance to make up the above-state difference. (See the charts below)
Revenue Adjustments:
F— Previously Recommended rF
ded
Line Items to Approved FY19 Mid-Year Budget
be Adjusted Budget Item Adjustment
Special $1,985,519.00
Assessments ($94,763.00) $1,890.756.00
COFW
Payment in lieu $191,096.00 - $191,096.00
of Services
Use of Fund $180,892.00 �$8,140.00 $189,122.00
Balance
Total Budget [$2,357,597.00 �$2,270,974.00
Revenue [($86,623.00)
Expenditure Adjustments:
Line Items to Previously [Adjustment
ecommended Amended
Li Adjusted Approved FYI id-Year FYI Budget
Budget Item Item
Security $75,000.00 1�1
0,000.00 [$85,000.00
Enhancements
Capital [$300,000.00
Improvements ($96,623.00) [$203,377.00
Total Budget $2,357,597.00 [($86,623.00) 1$2,270,974.00
Expense
Staff supports FirstService's recommended mid-year budget adjustments. 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 2018-2019 will be $2,270,974.00. This mid-year budget adjustment will
decrease the unaudited, unassigned fund balance by a total of$189,122.00. The revised Budget and
Five-Year Service Plan will take effect upon approval by City Council.The City and FirstService will amend
the existing management contract to reflect the budget changes (CSC Nos. 51797 and 51979).
The Heritage PID is located in COUNCIL DISTRICT 4 & 7.
A Form 1295 is not required for this contract because: This M&C does not request approval of a contract
with a business entity.
FISCAL INFORMATION /CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinance, funds will be available in the current operating budget , as appropriated
of the FWPID#7-Heritage Fund. The proposed changes to PID No.7 budget maintain compliance with
Logname: 13PID 7 MIDYEAR FY19 Page 2 of 3
reserve requirements.
FUND IDENTIFIERS (FIDs):
TO _
Fund Department ccoun Project Program ctivity Budget Reference # �mounj
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: Kevin Gunn (2015)
Additional Information Contact: Angela Estrada (8511)
Logname: 13PID 7 MIDYEAR FY19 Page 3 of 3