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HomeMy WebLinkAbout(0086) PID7_FY2022 Budget vFINAL.pdfCity of Fort Worth Five Year Service Plan FY22 - FY26 Public Improvement District No. 7 - Heritage FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 REVENUES PID Assessments $ 1,771,828 $ 1,807,265 $ 1,843,410 $ 1,880,278 $ 1,917,884 COFW Payment in lieu of Services 191,096 191,096 191,096 191,096 191,096 Total Budgeted Revenues $ 1,962,924 $ 1,998,361 $ 2,034,506 $ 2,071,374 $ 2,108,980 Use of Fund Balance 443,334 127,607 60,184 81,053 78,200 Total Funds Available for Use $ 2,406,258 $ 2,125,967 $ 2,094,690 $ 2,152,427 $ 2,187,180 EXPENSES Management Fee $ 144,000 $ 145,000 $ 147,000 $ 148,000 $ 150,000 Utilities 250,000 253,000 256,000 259,000 262,000 Landscaping/Tree Maintenance 1,000,000 1,030,000 1,048,000 1,081,000 1,090,000 Common Area Maintenance 505,000 200,000 220,000 240,000 260,000 Holiday Lighting 35,000 50,000 50,000 50,000 50,000 Security Enhancements 70,000 70,000 70,000 70,000 70,000 Advertising 500 500 500 500 500 Public Events 160,000 160,000 160,000 160,000 160,000 Capital Improvements 200,000 175,000 100,000 100,000 100,000 Insurance - - - - - Annual Review 2,500 2,500 2,500 2,500 2,500 City Administrative Fee 39,258 39,967 40,690 41,427 42,180 Total Budgeted Expenses $ 2,406,258 $ 2,125,967 $ 2,094,690 $ 2,152,427 $ 2,187,180 Net Change in Fund Balance $ (443,334) $ (127,607) $ (60,184) $ (81,053) $ (78,200) Fund Balance, Beginning of Year (Estimated Yrs 2-5) 1,159,557 716,223 588,616 528,432 447,378 Estimated Fund Balance, End of Year 716,223 588,616 528,432 447,378 369,178 Reserve Requirement 354,399 349,185 358,810 364,603 364,603 Over (Under) Reserve $ 361,824 $ 239,431 $ 169,622 $ 82,776 $ 4,576 'FY2022 Assessment Rate = $.160 Residential/ $.110 Commercial