HomeMy WebLinkAboutResolution 5220-05-2020 A Resolution
NO. 5220-05-2020
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR FORT
WORTH PUBLIC IMPROVEMENT DISTRICT NO. 12
(CHAPEL HILL PID)
FOR FISCAL YEAR 2019-2020
WHEREAS, pursuant to Resolution No. 3060, the City Council established the Fort Worth
Public Improvement District No. 12 (the "Chapel Hill PID") on March 23,2004;
WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on
August 27, 2019, the City Council approved a budget for the 2019-2020 fiscal year and a five-year
service plan for the Chapel Hill PID pursuant to M&C 19-0100;
WHEREAS, pursuant to City Secretary Contract No. 52904, the City has contracted with
FirstService Residential Texas PID, LLC ("FirstService")to manage the day-to-day administration
of the Chapel Hill PID for the 2019-2020 fiscal year;
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 Chapel Hill PID;
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 Chapel Hill PID for the 2019-2020 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 Chapel Hill PID is hereby amended
and approved for the remainder of the 2019-2020 fiscal year in accordance with Exhibit "A",
which is attached hereto.
2 This Resolution shall take effect immediately following its adoption.
Adopted this 5th day of May 2020.
FART�'L
ATTEST:
V 2
By:
Mary J. Kayser, City Secretary TEXP�S
EXHIBIT A
City of Fort Worth
Five Year Service Plan
Public Improvement District No.12-Chapel Hill
Mid Year Revision
FY19/20 FY20/21 FY21/22 FY22/23 FY23/24
REVENUES
PID Assessments $69,361 $71,095 $72,872 $74,694 $76,562
Budget Revenues $69,361 $71,095 $72,872 $74,694 $76,562
Use of Fund Balance 19,184
Total Revenues $88,545 $71,095 $72,872 $74,694 $76,562
EXPENSES
Management Fee 13,872 10,763 11,032 11,307 11,590
City Administrative Fee 2,000 2,000 2,000 2,000 2,000
Utilities 36,430 37,341 38,274 39,231 40,212
Landscaping 22,393 14,290 14,647 15,013 15,388
Landscape Enhancements 2,000 - - - -
Irrigation Repairs 5,000 525 550 600 625
Pond Maintenance 2,400 2,817 2,817 2,817 2,817
Pond Chemicals 325 350 350 350 350
Fountain Repairs 825 850 875 900 925
Website 800 - - - -
Audit/Annual Review 2,500 1,000 1,000 1,000 1,000
Budget Expenses 88,545 69,936 71,545 73,218 74,907
Contribution to Fund Balance - - - -
Total Expenses $88,545 $69,936 $71,545 $73,218 $74,907
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City of Fort Worth,Texas
Mayor and Council Communication
DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0274
LOG NAME: 13PID12 MIDYEARFY20
SUBJECT
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five-Year Service Plan for Fort Worth Public Improvement District 12—
Chapel Hill,Authorize an Amendment to City Secretary Contract No. 52904,a Management Services Agreement for Public Improvement District
12-Chapel Hill,and Adopt Appropriation Ordinance(COUNCIL DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1.Adopt the attached resolution approving the revised Fiscal Year 2019-2020 Budget and Five-Year Service Plan for Public Improvement District
12—Chapel Hill to reflect amendments associated with a mid-year review;
2.Authorize an amendment to City Secretary Contract No.52904,a Management and Improvement Services Agreement for Public Improvement
District 12-Chapel Hill,to increase the Management Fee by$2,672.00;and
3.Adopt the attached appropriation ordinance increasing receipts and appropriations in the Fort Worth Public Improvement District 12—Chapel
Hill Fund in the amount of$19,184.00,from available, unreserved fund balance.
DISCUSSION:
The City of Fort Worth Department of Financial Management Services(Finance)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,has conducted mid-year reviews of the Fiscal Year 2019-2020 Budget(Budget) for the Public Improvement District 12-
Chapel Hill(Chapel Hill PID)and recommend the following adjustments.
The City contracts with FirstService Residential Texas PID, LLC(FirstService)to manage the Chapel Hill PID. FirstService has identified the need
to increase the Chapel Hill PID Budget by$19,184.00 to cover expenses associated with the management fee,landscaping/irrigation,and audit
line items in the Budget and Five-Year Service Plan.The expenses include additional costs associated with increases in insurance and contract
fees.
Revenue Adjustments:
L
Items Previously Recommended Amended
e Approved FY20 Mid-Year FY20 Budget
sted Budget Item Adjustment Item
AsDsessmentsi� _ $69 361.00 - $69,361.00
�..__
Use of Fund $19,184.00 $19,184.00
Balance— _-- Jl_
Total
7Reveque___
ud et $69,361.00 $19184.00 $88,545.009
Expenditure Adjustments:
-------.._- --- -- --_. --- — - ----—
Line Items Previously Recommended Amended
to be Approved FY20 Mid-Year FY20 Budget
Adjusted Budget Item Adjustment Item
Management 1 $11,200.00 $2,672.00 $13,872.00
fee _ _
Landscaping $13,941.00 �_ $8,452.00 $22393.00
Line Items Previously Recommended Amended
to be Approved FY20 Mid-Year FY20 Budget
Adjusted Budget Item Adjustment Item
lEnhancem1egntOOO.O�I $2,000.00
Pond oF
�s6o:
.00L$�o�000
Maintenance _ _
Audit _ -$1,000.00 $1,500.00 $2,500.00
Repaion $500.00j $4,500.00 $5,000.00
Totals 81.0011 $19,184.00 $48,165.00
Staff recommends an increase of$2,672.00 in the management fee line item of the current Budget and Five-Year Service Plan.The management
fee line item includes any and all insurance and administrative costs incurred by the FirstService to perform its duties and responsibilities under
the contract. 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 2019-2020 will be
$88,545.00.This mid-year budget adjustment will decrease the unaudited,unassigned fund balance by a total of$19,184.00,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 mid-year adjustment(City Secretary Contract No.52904).
FirstService took over managing the Chapel Hill PID in fiscal year 2019-2020 and identified the need for necessary unbudgeted
expenditures. The proposed changes to the Chapel Hill PID Budget are recommended to address drainage issues and other necessary
expenditures. The Chapel Hill PID is expected to end the year with a fund balance of$6,957.77.The estimated reserve requirement is
$9,965.65. The Finance Department along with FirstService Residential agree that the mid-year budget adjustment reflect necessary
expenditures and will work together to ensure that reserves are compliant in the FY21 budget process.
The Chapel Hill PID is located in COUNCIL DISTRICT 7.
A Form 1295 is not required 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#12-Chapel Hill Fund. Prior to any expenditure being incurred,
the Financial Management Services Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Office by: Kevin Gunn 2015
Originating Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Anthony Rousseau 8338