HomeMy WebLinkAbout(0033) M&C 20-0323 (2)City of Fort Worth,
Mayor and
DATE: 05/05/20
Texas
Council Communication
LOG NAME: 13PID19 MIDYEARFY20
SUBJECT
M&C FILE NUMBER: M&C 20-0323
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five -Year Service Plan for Public Improvement District 19 - Historic Camp
Bowie and Adopt Appropriation Ordinance (COUNCIL DISTRICTS 3 & 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached resolution approving the revised Fiscal Year 2019-2020 Budget and Five -Year Service Plan for Public Improvement District
19 — Historic Camp Bowie to reflect amendments associated with a mid -year review; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 19
— Historic Camp Bowie Fund in the amount of $307,539.00, from available unreserved fund balance.
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 19 - Historic Camp Bowie (Historic Camp Bowie PID) Annual
Budget (Budget) and recommend the following adjustments.
The City contracts with Camp Bowie District, Inc. to manage the Historic Camp Bowie PID. Camp Bowie District, Inc. has identified the need to
increase the Historic Camp Bowie PID budget by $227,539.00 to cover expenses associated with the beautification, marketing, and audit line
items. The expenses include additional cost associated with the Green Ribbon Funding project, a marketing plan to assist property owners post
COVID-19, and audit of PID financials. The increase in the Historic Camp Bowie PID budget is represented by the use of fund balance in the
amount of $307,539.00 and a decrease to the PID Assessment line item in the amount of $80,000.00.
With the establishment of the Historic Camp Bowie PID and the creation of its property boundary, staff found that there were 75 properties that
were improperly levied an assessment and labeled as being a part of the PID for tax years 2018/2019. The original petition of properties sent to
Tarrant Appraisal District creating the Historic Camp Bowie PID boundary was incorrectly verified for proper data transmission. Staff has
recently identified and corrected this issue with the Tarrant Appraisal District and the Tarrant County Assessor Collectors Office, which will result in
a reduction to the current revenue received in this fiscal year as refunds are issued. Camp Bowie District, Inc., along with City staff, have identified
the need to decrease the PID Assessment line item by $80,000.00 to account for the reduction in revenue for the 75 lots removed.
Revenue Adjustments:
Line Items
Previously
Recommended
Amended
to be
Approved FY20
Mid -Year
FY20 Budget
Adjusted
Budget Item
Adjustment
Item
PID
Assessments
$432,771.00
$(80,000.00)
$352,771.00
Payment in
lieu of
$17,791.00
-
$17,791.00
Services
Use of Fund
Balance
$307,539.00
$307,539.00
Total
Budget
$450,562.00
$227,539.00
$678,101.00
Revenue
Expenditure Adjustments:
Line Items to
Previously
Recommended
Amended
be Adjusted
Approved FY20
Mid -Year
FY20 Budget
Budget Item
Adjustment
Item
Professional
Fees
$5,000.00
$(5,000.00)
Beautification 11
$69,802.0011
$152,658.00
$222,460.00
Marketing 11
$24,000.001
$75,381.00
$99,381.00
lCommunication1l
$26,000.00
$2,000.00
$28,000.00
Audit 11
-
$2,500.00
$2,500.00
Totals 11
$124,802.00
I $227,539.00
$352,341.00
Staff supports Camp Bowie District, Inc.'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 be
$678,101.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total of $307,539.00. The revised
Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and Camp Bowie District, Inc. will amend the existing
management contract to reflect the mid -year adjustment (City Secretary Contract No. 52908). The proposed changes to the Historic Camp Bowie
PID Budget maintain compliance with reserve requirements.
The Historic Camp Bowie PID is located in COUNCIL DISTRICTS 3 & 7.
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 of the FWPID #19 - Historic Camp Bowie Fund. Prior to any expenditure being
incurred, the Financial Management Services Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Office by: Jay Chapa 5804
Originating Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Anthony Rousseau 8338