HomeMy WebLinkAbout(0043) PID 20 RESOLUTION (MID YEAR ADJUSTMENT) (2019-2020).pdfA Resolution
NO.
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO.20
(EAST LANCASTER PID)
FOR FISCAL YEAR 2019-2020
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
27, 2019, the City Council approved a budget for the 2019-2020 fiscal year and a five-year service plan
for the East Lancaster PID pursuant to M&C 19-0103;
WHEREAS, pursuant to City Secretary Contract No. 52907, the City has contracted with
FirstService Residential Texas PID, LLC ("Contractor") to manage the day-to-day administration of the
East Lancaster PID for the 2019-2020 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. 4905-02-2018, 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 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 2019-2020 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 2019-2020 fiscal year in accordance with Exhibit "A", which is
attached hereto.
This Resolution shall take effect immediately following its adoption.
Adopted this day of
ATTEST:
M.
Mary J. Kayser, City Secretary
2020.
EXHIBIT A
City of Fort Worth
Five Year Service Pi an
Public Improvement District No. 20 - East Lancaster
MJD YR ADJ
FY19M
FY20121
FY21122
FY22123
FY23124
REVENUES
PIDAssessments
$245,727
$253,099
$260,692
$268.513
$276,568
Budget Revenues
$245,727
$253,099
$260,692
$268,513
$276,S68
Use of Fund Balance
Total Revenues
$245,727
$253,099
$260,692
$268,513
5276,568
EXPENSES
Management Fee
15,800
16,590
17,420
18,290
19,205
City Administrative Fee
4,915
5,062
5,124
5,370
51531
Security Patrols
176,617
200,000
210,000
220,5W
231,525
Insurance
6,000
2,060
2,122
2,185
2,251
Comm unity MarketinglEvents
3,000
3,150
3,308
3,473
3,647
PIDApp Fee
5,000
-
-
-
-
AuditlAnnual Review
-
-
-
-
-
Budget Expenses
211,332
2MB62
237.974
249.818
26x159
Contribution to Fund Balance
34,395
26,237
22,620
18,693
14,409
Total Expenses
$245,727
$253,099
$260,603
$2W511
$276,568