HomeMy WebLinkAboutOrdinance 26110-04-2023ORDINANCE NO. 26110-04-2023
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 15 -SUN VALLEY FUND IN THE AMOUNT OF $21,116.00, FROM
AVAILABLE, UNRESERVED FUND BALANCE, FOR THE PURPOSE OF
FUNDING MID-YEAR BUDGET ADJUSTMENTS; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2022-2023 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Fort
Worth Public Improvement District 15 -Sun Valley Fund in the amount of $21,116.00, from available,
unreserved fund balance, for the purpose offunding mid-year budget adjustments.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opin ion or judgment shall in no way impair
the remaining portions, sections , or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 25773-09-2022 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
ALL
Nico Arias (May l, 2023 09:06 COT)
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 25, 2023
CITY SECRETARY
FA~
Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Mayor and Council Communication
DA TE: 04/25/23
LOG NAME: 17PID15 MIDYEARFY23
SUBJECT
M&C FILE NUMBER : M&C 23-0310
(CD 5 I Future CD 11) Adopt Ordinance Amending the Fiscal Year 2022-2023 Budget and Five-Year SeNice Plan for Public Improvement
District 15 -Sun Valley and Adopt Appropriation Ord inance
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance amending the Fiscal Year 2022 -2023 Budget and Five-Yea r SeNice Plan for Public Improvement District 15-
Sun Valley to reflect amendments associated with a mid -year review and direct the City Secretary to record the same in the real property
records ofTarrant County , Texas no later than the seventh (ih) day after adoption by the City Council ; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Publ ic Improvement District
15 -Sun Valley Fund in the amount of $21 ,116.00, from available , unreserved fund balance , for the purpose of fund ing mid-year budget
adjustments .
DISCUSSION:
The City of Fort Worth's Department of Economic Development administers the City's Public Improvement Districts (PIDs). The City's PIO Policy
outlines the need to proactively work with the City's PIO management companies to oversee the seNices being provided within each of the PIDs.
PIO 15-Sun Valley (Sun Valley PIO) is managed by Orasi Development, LLC (Orasi).
On September 13 , 2022 , City Council adopted Ordinance No . 25722-09-2022 , approving the Fiscal Yea r (FY) 2022-2023 Budget, Five-Year
SeNice Plan , Assessment Plan , and Tax Year 2022 Assessment Roll for the Sun Valley PIO . After conducting a mid -year review of the Sun Valley
Pl D's budget , City staff and Orasi have identified the need to increase the Sun Valley PIO Budget by $21 ,116.00 to align expenses with actual
activities that are attributable primarily to increases in security for hourly rate adjustments and sales tax charges for equipment.
Revenue Adjustments:
Line Items
to be
Adjusted
PIO
. Recommended Amended
Previously Approved Mid-Year FY23 FY23 Budget Item Adjustment Budget Item
$141,410 .00 $0.00 $141 ,410.00
Expenditure Adjustments:
. Recommended Amended
Line Items to Previously Approved Mid-Year FY 23
be Adjusted FY23 Budget Item Adjustment Budget Item
$396 .00 $5 ,196.00
$21,116.00 $113 ,276.00
All other previously approved line items not mentioned above remain the same . Upon approval of the above recommendations , the total budgeted
expenses for FY 2022-2023 will be $174,886.00. This mid-year budget adjustment will decrease the unaudited , unassigned fund balance by a total
of $21 ,116 .00. The revised Budget and Five-Year SeNice Plan will take effect upon approval by City Council. The City and Orasi will update the
existing contract to reflect the mid -year adjustment (City Secretary Contract No . 58425).
Funding is available for appropriation in the fund balance of the FWPID #15 -Sun Valley Fund . The beginning balance is $85 ,520 .99 after this
M&C, available balance will be $64 ,404 .99 .
The Sun Valley PIO is located inCOUNCIL DISTRICT 5/FUTURE COUNCIL DISTRICT 11.
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 recommendations and adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, in the FWPID #15 -Sun Valley Fund . Prior to any expenditure being incurred,
the Economic Development Department has the responsibility to validate the availability of funds .
Submitted for City Manager's Office by: William Johnson 5806
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 2663