HomeMy WebLinkAboutResolution 4486-07-2015 A Resolution
NO. 4486-07-2015
APPROVING AN AMENDED BUDGET FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 8
(CAMP BOWIE PID)
FOR FISCAL YEAR 2014-2015
WHEREAS, pursuant to Resolution No. 3697-12-2008 the City Council re-established the Fort
Worth Public Improvement District No. 8 (the "Camp Bowie PID")on December 16, 2008; and
WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on
September 9, 2014 the City Council approved a budget for the 2014-2015 fiscal year and a five-year
service plan for the Camp Bowie PID pursuant to M&C BH-319; and
WHEREAS, pursuant to City Secretary Contract No. 46305, the City has contracted with Camp
Bowie District, Inc. (the "CBDI") to manage the day-to-day administration of the Camp Bowie PID for
the 2014-2015 fiscal year; and
WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the
City has assigned to the CBDI the responsibility for preparing the annual budget and five-year service
plan for the Camp Bowie 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. 3711-02-2009, 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 CBDI 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 Camp Bowie PID for the 2014-2015 fiscal year;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS THAT:
1. The following amended budget for the Camp Bowie PID is hereby approved for the
remainder of the 2014-2015 fiscal year:
FY14115
REVENUES
PID Assessments $ 410,047
City Payment in-lieu of Services $ 39,761
Prior Year's Assessment $ 47,520
Total Revenues $ 497,328
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EXPENSES
Management Fee $ 60,000
Water $ 16,000
Utilities $ 2,500
Landscape Management Fee $ 72,500
Median/ROW Mowing $ 47,261
Landscape Maintenance $ 43,500
Beautification $ 2,000
Capital Improvements $ 134,000
Marketing $ 41,000
Insurance $ 6,500
Annual Review(Audit) $ 12,000
City Administrative Fee $ 8,200
Budget Expenses $ "5,461
Estimated Operating Reserve $ 51,867
Total Expenses $ 497,328
2. This Resolution shall take effect immediately following its adoption.
Adopted this 21 day of July 2015.
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 7/21/2016 - Resolution No. 4486-07-2016
DATE: Tuesday, July 21, 2015 REFERENCE NO.: **G-18507
LOG NAME: 17NS PID8MIDYEARFY15
SUBJECT:
Adopt Resolution Approving the Revised Fiscal Year 2014-2015 Budget and Service Plan for Public
Improvement District No. 8, Camp Bowie Public Improvement District(COUNCIL DISTRICTS 3 and 7)
RECOMMENDATION:
It is recommended that the City Council adopt a Resolution approving the revised Fiscal Year 2014-2015
Budget and Service Plan for Public Improvement District No. 8, Camp Bowie Public Improvement District.
DISCUSSION:
The City of Fort Worth administers the City's Public Improvement Districts (PIDs), in accordance with
Chapter 372 of the Texas Local Government Code. The City Policy and Guidelines provides for Staff to
conduct a mid-year review of the annual budget of all PIDs and recommend adjustments as needed so
that actual expenditures correspond with budgeted expenses.
The Camp Bowie PID has identified the need to increase their beautification efforts throughout the nine
miles of the district by increasing their Landscape Maintenance budget. Also, a review of their current
insurance policies indicates there was an unexpected increase in their annual premiums. Due to the
changes in management and marketing strategies, budgeted dollars have been identified that can be
transferred to the Landscape Maintenance and Insurance budget line items.
(Line Items to be Previously Approved Recommended Mid-Year Amended FYI
Adjusted I FYI Budget Items ' Adjustment Budget Items
Management Fee �� $ 74,000.00� -$14,000.00; $ 60,000.00
Landscape $ 43,500.00 $33.500.00 $ 77,000.00
Maintenance
Marketing F $ 62,500.00 -$21,500.00[�$ 41.000.00
Insurance $ 4,500.001 $ 2,000.001 $ 6.500.00
Total Budget � $184,500.00� $ 0.00 $184,500.00
Expenses
Recommendation: A $14,000.00 decrease in Management Fees and a $21,500.00 decrease in Marketing
Expense. A $33,500.00 increase in Landscape Maintenance and a $2,000.00 increase in the Insurance
fee. All of the adjustments by line will result in a total mid-year adjustment of zero dollars. Therefore, the
FY15 approved budget will remain at$497,328.00. The revised budget and service plan will take effect
upon approval.
FICf:AI INFr1RMATIM /r:1=RT11=MATIr1N-
Logname: 17NS PID8MIDYEARFY15 Page 1 of 2
The Financial Management Services Director certifies that this action will have no material effect on City
Funds.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Submitted for City Mananer's Office by: Fernando Costa (6122)
Originating Department Head: Cynthia Garcia (8187)
Additional Information Contact: Weldon Washington (7335)
Logname: 17NS PID8WDYEARFY15