HomeMy WebLinkAbout(0004) M&C 20-0277 (2)City of Fort Worth, Texas
Mayor and Council Communication
DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0277
LOG NAME: 13PID6 MIDYEARFY20
SUBJECT
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five -Year Service Plan for Public Improvement District 6 - Park Glen
(COUNCIL DISTRICT 4)
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 6 — Park Glen 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 District 6 - Park Glen (Park Glen PID) Annual Budget (Budget) and
recommend the following adjustments.
The City contracts with FirstService Residential Texas PID, LLC (FirstService) to manage the Park Glen PID. FirstService has identified a mid-
year adjustment to reflect changes to the Five -Year Service Plan. The changes will not affect the bottom line, but represent reallocation of
Landscaping to Capital Improvements, Communications, Insurance and Annual Review.
Line Items to Previously
Recommended
Amended
be Adjusted Approved FY20
Mid -Year
FY20 Budget
Budget Item
Adjustment
Item
Landscaping $829,520.00
($45,020.00)
$784,500.00
Capital $241,000.00 $20,000.00 $261,000.00
Improvements
Communications $6,800.00 $15,700.00 $22,500.00
Insurance $34,182.00 $2,320.00 $36,502.00
Annual Review $5,100.00 $7,000.00 $12,100.00
Totals $1,116,602.00 - 1,116,602.00
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 recommendation, the total budgeted expenses for Fiscal Year 2019-2020 will remain at $2,224,782.00. The
revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the exiting contract
to reflect the mid -year adjustment (City Secretary Contract No. 52906).
The Park Glen PID is located in COUNCIL DISTRICT 4.
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