HomeMy WebLinkAboutResolution 5371-04-2021A Resolution
NO. 5371-04-2021
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 20
(EAST LANCASTER PIO)
FOR FISCAL YEAR 2020-2021
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
25, 2020, the City Council approved a budget for the 2020-2021 fiscal year and a five-year service plan
for the East Lancaster PID pursuant to M&C 20-0579;
WHEREAS, pursuant to City Secretary Contract No. 54793, the City has contracted with
FirstService Residential Texas PIO, LLC ("Contractor") to manage the day-to-day administration of the
East Lancaster PID for the 2020-2021 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. 5312-12-2020, City staff
annually conducts mid-year reviews of all PID budgets to ensure that actual PID expenditures
con-espond 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 2020-2021 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 2020-2021 fiscal year in accordance with Exhibit "A", which is
attached hereto.
2. This Resolution shall take effect immediately following its adoption.
Adopted this 611, day of April 2021.
ATTEST:
By:~<;~
Mary J. Kayser, City Secretary
EXHIBIT A
City of Fort Worth
Five YetJr Serl/Ice Pion (Mid Year)
Publlc Improvement Dlsc rlct No. 20 .. East Lancaster
fY20/21 l'Y21/22 l'Y22/23 fY23124 l'Y24125
REVENUES
PIO Assessments 256,457 s 254 ,151 s 272 ,076 s 280,238 s 288,1145
Total Budgeled Revoo'f.Jts s 256.457 s 264,151 s 272,076 s 280,238 s 288,645
Us• or Fund Balance 36,000
Total Funds Available for Use s 292,457 s 254,151 s 272,076 s 280,238 s 288,845
EXPENSES
Management Fee 17 ,800 s 18 ;166 s 18 ,519 s 18,890 $ 19,267
City Admi ni slrallve Fee 6,120 5 .283 5 ,112 5 ,606 5.773
Security 261 ,528 218.091 232 ,120 230,387 244,884
Community Marketing/Events 3,000 3 ,500 3 ,700 3 ,800 4,000
Audil/Annual Review 2 ,500 2,500 2 ,500 2,500 2,500
Communication> 2.500 3.000 3.000 3,000 3.000
Total Budgeted Expenses s 292,457 s 250,530 s 285,287 s 270,182 s 279,424
To AIExpcnses 2'Z,457 $ zso.s,o $ 265.287 270.182 279,424
Contribution to Fund Balance 13,621 6,789 10,056 0.221
Net Change in Fund Balence s (36,000) $ 13,621 $ 6,789 $ 10,056 $ 9,221
Fund Balance, Beginnin g al Year (Esllmaled Yrs 2-5) 71 ,509 35,509 49,130 55,919 65,975
Estimated Fund Balance. End of Year 35.509 49,1 30 55,91 0 65.975 75.196
Reserve Requirement 30,531 44,223 45,000 46,571 46,571
Over (Under) Reserve $ 4,978 s 4,907 s 10,889 s 19,404 s 28,625
'FY2021 Assessment Rote • S.266
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/06/21 M&C FILE NUMBER: M&C 21-0229
LOG NAME: 17PID20 MIDYEARFY21
SUBJECT
(CD 5 and CD 8) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement
District 20 -East Lancaster Avenue 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 20 -East Lancaster Avenue 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 20 -East
Lancaster Avenue Fund in the amount of $36,000.00, 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 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 20 -East Lancaster Avenue (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 the
need to increase the East Lancaster Budget by $36 ,000 .00 to cover expenses associated with increases to security for increased patrols and
installation of security cameras . Removal of the insurance line item does not relieve FirstService from acquiring insurance in the types and
amounts required under the contract. All such insurance costs are built into the current management fee .
Revenue adjustments:
Line Items Previously
to be Approved FY21
Adjusted Budget Item
Assessments. PID I $256,457 .ooll
Use of Fund $0.00 Balance
Totals $256,457.00
Expenditure adjustments :
Line items
to be
Adjusted
Previously
Approved FY21
Budget Item
Recommended
Mid-Year
Adjustment
$0 .0011
$36 ,000.00
$36,000.00
Recommended
Mid-Year
Adjustment
$42 ,000.00
($6 ,000.00)
Amended
FY21 Budget
Item
$256,457.001
$36 ,000.00
$292,457.00
Amended
FY21 Budget
Item
$261 ,528.00
$0.00
$36,000.00 $261,528.00
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 2020-2021 will remain at $292 ,457 .00. This
mid-year budget adjustment will decrease the unaudited , unassigned fund balance by a total of $36,000.00. 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 . 54793).
The East Lancaster PID is located in COUNCIL DISTRICTS 5 & 8.
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 , in the FWPID #20 -East Lancaster Ave 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