HomeMy WebLinkAbout(0039) M&C 20-0276City of Fort Worth,
Mayor and
DATE: 05/05/20
Texas
Council Communication
LOG NAME: 13PID20 MIDYEARFY20
SUBJECT
M&C FILE NUMBER: M&C 20-0276
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 2019-2020 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
Patrols
$180,617.00
($4,000.00)
$176,617.00
Insurance
1 $2,000.0011
$4,000.001
$6,000.00
Totals
$182,617.0011
J $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 & 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 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