HomeMy WebLinkAboutResolution 5223-05-2020 A Resolution
NO. 5223-05-2020
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 20
(EAST LANCASTER PID) FOR FISCAL YEAR 2019-2020
WHEREAS,pursuant to Resolution No. 5052-02-2019,the City Council established
the Fort Worth Public Improvement District No. 20 (the "East Lancaster PID") on
February 12, 2019;
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 East Lancaster PID pursuant to M&C 19-0103;
WHEREAS, pursuant to City Secretary Contract No. 52907, the City has
contracted with FirstService Residential Texas PID, LLC ("Contractor") to manage the
day-to-day administration of the East Lancaster 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 Contractor the responsibility for preparing the
annual budget and five-year service plan for the East Lancaster 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 the Contractor 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 East Lancaster 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 East Lancaster 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].pfMay 2020 ATTEST:
A OF F�RT
By. lZ
Mary J. Kayse ty S etary
S
EXHIBIT A
City of Fart Worth
Five Year Service Plan
Public Irnproveotent District No.20-East Lancaster
MID YR ADJ
FY19120 FY2&21 FY21122 FY22f23 FY23124
REVENUES
PID Assessments $245.727 $253,099 $260,692 $268,513 $276,568
Budget Revenues $245,727 $253,099 $260,692 $268,513 $276,568
Use of Fund Balance
Total Revenues $245,727 $253,099 $260,692 $268,513 $275,568
EXPENSES
Management Fee 15,600 16,590 17,420 1B,290 19,205
City Administrative Fee 4,915 5,062 5,124 5,370 5.531
Security Patrols 170,017 200,000 210,000 220,5W 231,525
Insurance 0,000 2,060 2,122 2,186 2,251
Community Marketing/Events 3,000 3,150 3.308 3,473 3.047
PID App Fee 5,000 - - - -
AudiVAnnual Review - - - - -
Budget Expenses 211,332 226,862 237,974 249,818 26ZI59
Contribution to Fund Balance 34,395 26,237 22,629 18,693 14,409
Total Expenses $245,727 $253,099 $260,603 $268,511 $276,568
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City of Fort Worth
Five Year Service Plan
Public Improvement District No.20-East Lancaster
MID YR ADJ
FY19120 FY20121 FY21/22 FY22/23 FY23124
REVENUES
PID Assessments $245,727 $253,099 $260,692 $268,513 $276,568
Budget Revenues $245,727 $253,099 $260,692 $268,613 $276,568
Use of Fund Balance
Total Revenues $245,727 $253,099 $260,692 $268,613 $276,568
EXPENSES
Management Fee 15,800 16,590 17,420 18,290 19,205
City Administrative Fee 4,915 5,062 5,124 5,370 5,531
Security Patrols 176,617 200,000 210,000 220,500 231,525
Insurance 6,000 2,060 2,122 2,185 2,251
Community Marketing/Events 3,000 3,150 3,308 3,473 3,647
PID App Fee 5,000 - - - -
Audit/Annual Review - - - - -
Budget Expenses 211,332 226,862 237,974 249,818 262,159
Contribution to Fund Balance 34,395 26,237 22,629 18,693 14,409
Total Expenses $245,727 $253,099 $260,603 $268,511 $276,568
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City of Fort Worth,Texas
Mayor and Council Communication
DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0276
LOG NAME: 13PID20 MIDYEARFY20
SUBJECT
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five-Year Service Plan for Public Improvement District 20—East Lancaster
(COUNCIL DISTRICTS 5&8)
RECOMMENDATION:
It is recommended that the City Council adopt the attached resolution approving the revised Fiscal Year 2D19-2020 Budget and Five-Year Service
Plan for Public Improvement District 20—East Lancaster to reflect amendments associated with a mid-year review.
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 Public Improvement Disctrict 20-East Lancaster(East Lancaster PID)Annual Budget
(Budget)and recommend the following adjustments.
The City contracts with FirstService Residential Texas PID, LLC(FirstService)to manage the East Lancaster PID.FirstService has identified a
mid-year adjustment to reflect changes to the current Budget and 5-Year Service Plan.The changes will not affect the bottom line but represent a
reallocation of resources from Security Patrols to Insurance.
Line Items Previously Recommended Amended
to be Approved FY20 Mid-Year FY20 Budget
Adjusted Budget Item Adjustment Item
Security $180,617.00 ($4,000.00) $176,617.00
Patrols
Insurance $2,000-0011 $4,OD0.00 $6,000.00
Totals $182,617.0011 $182,617.00
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 remain at$245,727.00.The
revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the existing
contract to reflect the mid-year adjustment(City Secretary Contract No.52907).
The East Lancaster PID is located in COUNCIL DISTRICTS 5&B.
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 approval of this recommendation will have no material effect on City funds.
Submitted for City Manager's Office by: Kevin Gunn 2015
Originating Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Anthony Rousseau 8338