HomeMy WebLinkAboutOrdinance 26850-04-2024Ordinance No. 26850-04-2024
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 14 — TRINITY BLUFF FUND IN THE AMOUNT OF $10,000.00, 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 2023-2024 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Fort
Worth Public Improvement District 14 — Trinity Bluff Fund in the amount of $10,000.00, from available,
unreserved fund balance, for the purpose of funding 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, opinion 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 26453-09-2023 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said prior ordinances and appropriations are hereby expressly repealed.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:
Nico A--- fi�, 202409:33CDTI
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 23, 2024
CITY SECRETARY
P na
�L iCBltfZf,�7 � cyvil/!�
ld P. Gonzales (Ap, 029000 CDT)
Jannette S. Goodall
City Secretary d44vtitt
o as
a,> i�°OR' ��
FORT WORTH
REVENUES
PID Assessments
COFW Assessment
Budget Revenues
Use of Fund Balance
Total Revenues
EXPENSES
Management Fee
Tree LightslUtilities
Landscaping
Litter Abatement
Beautification
Ambassador Program
Marketing
City Audit
City Administrative Fee
Budget Expenses
Contribution to Fund Balance
Total Expenses
Net Change in Fund Balance
Fund Balance, Beginning of Year
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
*FY2024 Assessment Rate = $.10
City of Fort Worth
Five Year Service Plan FY 2024-25 - FY 2027-28
Public Improvement District No. 14 - Fort Worth
FIVE YEAR SERVICE PLAN- MID YR Revision
FY23124 FY24125 FY25126
$102,766 $104,821 $115,000
40 40 40
$102,806 $104,861 $115,040
$10,000
$112,806 $104,861 $115,040
$117,300 $119,646
40 40
$117,340 $119,686
$117,340 $119,686
15,000
15,300
15,606
15,606
15,918
2,850
3,060
3,121
3,184
3,247
31,000
31,000
32,252
32,875
33,555
3,600
3,600
3,600
3,600
3,600
27,800
12,500
2,500
2,500
2,500
25,000
25,000
50,000
50,000
50,000
2,500
2,500
1,000
1,000
1,000
3,000
3,000
3,000
3,000
3,000
2,056
2,097
2,301
2,347
2,394
112,806
98,057
113,380
114,111
115,214
6,804
1,660
3,229
4,472
$112,806
$104,861
$115,040
$117,340
$119,686
(10,000)
6,804
1,660
3,229
4,472
18,659
11,659
18,463
20,123
19,206
8,659
18,463
20,123
23,352
23,678
16,346
18,900
19,022
19,206
19,206
(7,687)
(438)
1,101
4,146
4,472
IN
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/23/24 M&C FILE NUMBER: M&C 24-0328
LOG NAME: 17PID14 MIDYEAR FY24
SUBJECT
(CD 9) Adopt Ordinance Amending the Fiscal Year 2023-2024 Adopted Budget and Five -Year Service Plan for Fort Worth Public Improvement
District 14 -- Trinity Bluff and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance amending the Fiscal Year 2023 2024 Budget and Five -Year Service Plan for Public Improvement District 14 —
Trinity Bluff 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
14 — Trinity Bluff Fund in the amount of $10,000.00, from available, unreserved fund balance, for the purpose of funding 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 PID Policy
outlines the need to proactively work with the City's PID management companies to oversee the services being provided within each of the PIDs.
PID 14 — Trinity,Bluff (Trinity Bluff PID) is managed by Downtown Fort Worth Inc., (DFWI).
On September 12, 2023, City Council adopted Ordinance No. 26433-09 2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Downtown PID. After conducting a mid -year review of the Trinity
Bluffs budget, City staff and DFWI have identified the need to Increase the Trinity Bluff PID Budget by $10,000.00 to align expenses with actual
activities that are attributable primarily to increases in beautification including cultural enhancements.
Revenue adjustments:
(Line Items Previously Recommended Amended
Ito be Approved FY24 Mid Year i FY24 Budget
Adjusted Budget Item Adjustment - ;('Item
Use of Fund $0.00 $10,000.00I $10,000.00
Palance I _
Totals $0.00 $10,000.00 1 $10,000A0
Expenditure adjustments:
Line Items 'Previously RRecommended ',Amended
to be Approved FY24 Mid Year i FY24 Budget
Adjusted Budget Item Adjustment I'Item
Beautification $17,800.001 $10,000.00$27,800.00
Totals $17,800.001 $16,000.001 $27,800.0"0
All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted
expenses for FY 2023-2024 will be $112,806.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total
of $10,000,00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and DFWI will amend the
existing management contract to reflect the mid -year adjustment (City Secretary Contract No. 60330).
Funding is available for appropriation in the fund balance of the FWPID #14 - Trinity Bluff Fund. The beginning balance is $82,556.80, after this
M&C, available balance will be $72,556.80.
The Trinity Bluff PID is located in COUNCIL DISTRICT 9.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
L
`The Director of Finance certifies that upon approval of the recommendations and adoption of the attached appropriation ordinance, funds will be
dvailable in the current operating budget, as appropriated, in the FWMD #14 -Trinity Bluff Fund. Prior to any expenditure being incurred,
the Economic Development Department has the responsibility to validate the availability of funds.
Submitted for Citv Manager's Office bv: William Johnson 5806
Orioinatina Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608
Expedited