HomeMy WebLinkAboutOrdinance 24170-05-2020 Ordinance No. 24170-05-2020
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
FISCAL YEAR 2019-2020 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 15—SUN
VALLEY FUND IN THE AMOUNT OF$3,000.00, FROM AVAILABLE UNRESERVED FUND
BALANCE, FOR THE PURPOSE OF FUNDING EXPENSES ASSOCIATED WITH
PRINTING COSTS; 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 2019-2020 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in the Public
Improvement District 15 — Sun Valley Fund in the amount of $3,000.00, from available unreserved fund
balance, for the purpose of funding expenses associated with printing costs..
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 23835-09-2019 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said prior ordinances and appropriations are hereby expressly repealed.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 FORM AND LEGALITY: CITY SECRETARY
iy er �NA F. llad 2
�(May 27, 020 13:14 CDT)
Assistant City Attorney Mary J. Kayser
ADOPTED AND EFFECTIVE: May 5, 2020 FORT
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City of Fort Worth
Five Year Service Plan
Public Improvement District No.15-Fort Worth
Mid-Year Revision
FY19/20 FY20/21 FY21/22 FY22/23 FY23124
REVENUES
PID Assessments $102,122 $104,245 $107,372 $110,593 $113,911
Budget Revenues $102,122 $104,245 $107,372 $110,593 $113,911
Use of Fund Balance $5,078
Total Revenues $107,200 $104,245 $107,372 $110,593 $113,911
EXPENSES
Management Fee 12,000 12,000 12,000 12,000 12,000
Security Enhancements 73,000 73,000 73,000 73,000 73,000
Equipment Rental 8,500 8,500 8,500 8,500 8,500
Truck Maintenance 4,000 4,000 4,000 4,000 4,000
Insurance 600 600 600 600 600
Professional Services 3,600 3,600 3,600 3,600 3,600
Website/software 500 500 500 500 600
Printing 3,000 250 250 250 250
City Administrative Fee 2,000 2,000 2,000 2,000 2,000
Budget Expenses 107,200 104,450 104,450 104,460 104,550
Contribution to Fund Balance - - - -
Total Expenses $107,200 $104,450 $104,450 $104,450 $104,550
3%
City of Fort Worth,Texas
Mayor and Council Communication
DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0275
LOG NAME: 13PID15 MIDYEARFY20
SUBJECT
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five-Year Service Plan for Public Improvement District 15—Sun Valley and
Adopt Appropriation Ordinance(COUNCIL DISTRICT 5)
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
15—Sun Valley 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 15
—Sun Valley Fund in the amount of$3,000.00 in Fiscal Year 2019-2020,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 Public Improvement District 15-Sun Valley(Sun Valley PID)Annual Budget(Budget)and
recommend the following adjustments.
The City contracts with Orasi Development,LLC(Orasi)to manage the Sun Valley PID. Orasi has identified the need to increase the Budget by
$3,000.00 to cover expenses associated with additional printing costs in the Budget and 5-Year Service Plan.
Revenue Adjustments:
Line Items Previously Recommended Amended
to be Approved FY20 Mid-Year FY20 Budget
Adjusted Budget Item Adjustment Item
PID $102,122.00 - $102,122.00
Assessments
Use of Fund 1 $2,078.00 $3,000.00 $5,078.00
Balance _
Total
Budget $104,200.00 $3,000.00 $107,200.00
Revenue
Expenditure Adjustments:
Line Items Previously Recommended Amended
to be Approved FY20 Mid-Year FY20 Budget
Adjusted Budget Item Adjustment Item
Printing - $3,000.00 $3,000.00
Totals - $3,000.00 $31000.00
Staff supports Orasi'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$107,200.00.This mid year
budget adjustment will decrease the unaudited,unassigned fund balance by a total of$3,000.00.The revised Budget and Five-Year Service Plan
will take effect upon approval by City Council.The City and Orasi Development,LLC.will amend the existing management contract to
reflect the mid-year adjustment(City Secretary Contract No.52965). The proposed changes to the Sun Valley PID Budget maintains compliance
with reserve requirements.
The Sun Valley PID is located in COUNCIL DISTRICT 5.
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#15-Sun Valley 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
Oriainating Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Anthony Rousseau 8338