HomeMy WebLinkAboutOrdinance 24773-04-2021ORDINANCE NO. 24773-04-2021
AN ORDINANCE INCREASING RECEIPTS AND APPROPRIATIONS IN THE
FORT WORTH PUBLIC IMPROVEMENT DISTRICT 11-STOCKYARDS FUND,
IN THE AMOUNT OF $49,000.00, FROM AVAILABLE UNRESERVED FUND
BALANCE, FOR THE PURPOSE OF FUNDING MIDYEAR ADJUSTMENTS;
PROVIDING FOR A SEVERABJLITY CLAUSE; MAKING TIDS 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 2020-2021 in the
Budget of the City Manager, there shall also be increased receipts and appropriations in the Fort Worth Public
Improvement District Fund I I-Stockyards Fund, in the amount of $49,000.00, from availab le unreserved fund
balance, for the purpose funding midyear adjustments .
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 shat 1
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 24446-09-2020 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said prior ordinances and appropriations are hereby expressly repealed .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
Assistant City Attorney Mary J. Kayser
ADOPTED AND EFFECTIVE: April 6, 2021
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/06/21 M&C FILE NUMBER: M&C 21-0226
LOG NAME: 17PID11 M1DYEARFY21
SUBJECT
(CD 2) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement District 11 -
Stockyards and Adopt Attached Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council :
1. Adopt the attached resolution approving the revised Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement
District 11 -Stockyards to reflect amendments associated with a mid-year review ; and
2 . Adopt the attached appropriation ordinance increasing receipts and appropriations in the Fort Worth Public Improvement District 11 -
Stockyards Fund in the amount of $49,000.00 in Fiscal Year 2020-2021 , from available unreserved fund balance .
DISCUSSION:
The City of Fort Worth Department of Economic Development administers the City's Public Improvement Districts (PIDs) in accordance with
Chapter 372 of the Texas Local Government Code. The City's Operating PIO Policy outlines the need to proactively work with the PIO managers to
oversee the services being provided by the PIDs and their associated financial positions . Staff, along with the contracted PIO management
companies, have conducted mid-year reviews of the Public Improvement District 11 -Stockyards (Stockyards PIO) Annual Budget (Budget) and
recommend the following adjustments .
The City contracts with Stockyards Preservation Foundation of Fort Worth , Inc. (Foundation) to manage the Stockyards PID. The Foundation has
identified the need to increase the Budget by $49,000 .00 to cover expenses associated with Litter Abatement & Maintenance and Capital
Improvements for improvements made to light poles and s ignage .
Revenue adjustments :
Line Items Previously Recommended Amended
to be Approved FY21 Mid-Year FY21 Budget
Adjusted Budget Item Adjustment Item
PIO $193 ,097 .00 $0.00 $193 ,097.00
$60 ,361 .00
$253 ,458.00 $49,000.00
Expenditure adjustments :
Line Items to Previously Recommended Amended
be Adjusted Approved FY21 Mid-Year FY21 Budget
Budget Item Adjustment Item
Litter
Abatement & $36 ,000.00 $49 ,000 .00 $85 ,000 .00
Maintenance
!Public Events ($15 ,000.00)
Capital $10 ,000. $15 ,000 .00 Improvements
Totals $116,638.00 $49,000.00 $165,638.00
Staff supports the Foundation'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 2020-2021 will be $302,458.00 . This mid-
year budget adjustment will decrease the unaudited, unassigned fund balance by a total of $49 ,000.00 . The revised Budget and Five-Year Service
Plan will take effect upon approval by City Council. The City and Stockyards Preservation of Fort Worth, Inc . will amend the existing management
contract to reflect the mid-year adjustment (City Secretary Contract No . 54863). The proposed changes to the Stockyards PID Budget will
maintain compliance with reserve requirements .
The Stockyards PIO is located in COUNCIL DISTRICT 2.
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 ord inance, funds
will be available in the current operating budget, as appropriated, in the FWPID #11 -Stockyards Fund . Prior to any expenditure being incurred ,
the Economic Development Department has the responsibility to validate the availability of funds .
Submitted for City Manager's Office by : Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 7808