HomeMy WebLinkAbout(0020) PID 20 RESOLUTION (MID YEAR ADJUSTMENT) (2020-2021).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 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 PID, 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
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 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 day of
ATTEST:
By:
Mary J. Kayser, City Secretary
2021.
EXHIBIT A
City of Fort Worth
Five Year Service Plan (Mid Year)
Public Improvement District No. 20 - East Lancaster
REVENUES
PID Assessments
Total Budgeted Revenues
Use of Fund Balance
Total Funds Available for Use
EXPENSES
Management Fee
City Administrative Fee
Security
Community Marketing/Events
Audit/Annual Review
Communications
Total Budgeted Expenses
Total Expenses
Contribution to Fund Balance
Net Change in Fund Balance
Fund Balance, Beginning of Year (Estimated Yrs 2-5)
Estimated Fund Balance, End of Year
Reserve Requirement
Over(Under)Reserve
*FY2021 Assessment Rate = $.266
FY20f21 FY21/22 FY22/23 FY23124 FY24125
$ 256,457 $ 264,151 $ 272,076 $ 280,238 $ 288,645
$ 256,457 $ 264,151 $ 272,076 $ 280,238 $ 238,645
36,000 - - - -
$ 292,457 $ 264,151 $ 272,076 $ 280,238 $ 288,645
$ 17,800
$
18,156
$
18,519
$
18,890
$
19,267
5,129
5,283
5,442
5,605
5,773
261,528
218,091
232,126
236,387
244,984
3,000
3,500
3,700
3,800
4,000
2,500
2,500
2,500
2,500
2,500
2,500
3,000
3,000
3,000
3,000
$ 292,457
$
250,530
$
265,287
$
270,182
$
279,424
$ 292,457
$
250,530
$
265,287
$
270,182
$
279,424
13,621
6,789
10,056
9,221
$ (36,000)
$
13,621
$
6,789
$
10,056
$
9,221
71,509
35,509
49,130
55,919
65,975
35,509
49,130
55,919
65,975
75,196
30,531
44,223
45,030
46,571
46,571
$ 4,978
$
4,907
$
10,889
$
19,404
$
28,625