HomeMy WebLinkAbout28007-09-2025 - City Council - OrdinanceOrdinance No. 28007-09-2025
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
ROCK CREEK PID CUSTODIAL FUND, IN THE AMOUNT OF $2,531.97, TRANSFERRED FROM THE
COST OF ISSUANCE PROJECT (CITY PROJECT NO. 101004) WITHIN
THE ROCK CREEK SA CP 2018 FUND, IN ORDER TO PROPERLY ALIGN RESIDUALS WITH THEIR
CORRESPONDING FIDUCIARY FUND; 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 2024-2025 in
the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Rock Creek PID Custodial Fund, in the amount of $2,531.97, transferred from the Cost of Issuance
project (City Project No. 101004) within the Rock Creek SA CP 2018 Fund, in order to properly align
residuals with their corresponding fiduciary fund.
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 27107-09-2024 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provisions of said prior ordinances and appropriations are hereby expressly repealed.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:
Assistant City Attorney
ADOPTED AND EFFECTIVE: September 30, 2025
CITY SECRETARY
Jannette S. Goodall
City Secretary
F
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/30/25 M&C FILE NUMBER: M&C 25-0919
LOG NAME: 13COST OF ISSUANCE AND UNAPPROPRIATED BOND PROCEEDS CLEAN-UP
SUBJECT
(ALL) Authorize the Financial Management Services Department to Process Financial Transactions Transferring Excess Cost of Issuance Funds
and Moving Unappropriated Bond Proceeds from Project Funds to Corresponding Debt Service Funds and Adopt Appropriation Ordinances
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the Financial Management Services Department to process financial transactions transferring cost of issuance residuals and
moving unappropriated bond proceeds from project funds to corresponding debt service funds;
2. Adopt the attached approriation ordinance increasing estimated receipts and appropriations in the Rock Creek PID Custodial Fund, in the
amount of $2,531.97, transferred from the Cost of Issuance project (City Project No. 101004) within the Rock Creek SA CP 2018 Fund, in
order to properly align residuals with their corresponding fiduciary fund;
3. Adopt the attached approration ordinance increasing estimated receipts and appropriations in the Walsh Ranch PID Custodial Fund, in the
amount of $8,509.10, transferred from the Cost of Issuance project (City Project No. 101004) within the Walsh Ranch PID Series 2024 Fund,
in order to properly align residuals with their corresponding fiduciary fund; and
4. Adopt the attached approration ordinance increasing estimated receipts and appropriations in the General Debt Service Fund, in the
cumulative amount of $22,716.44, (1) transferred from the Cost of Issuance project (City Project No. 101004) within the Tax Notes 2018 and
Tax Notes 2021A Funds, and (2) moved from the Unspecified -All Funds project (City Project No. UNSPEC) within the 2014 Bond Program
Fund, in order to properly align residuals with their corresponding debt service fund.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to reconcile cost of issuance (COI) balances for several project funds and to
transfer excess COI balance and move unappropriated bond proceeds to the appropriate debt service funds. These dollars will be appropriated in
the corresponding fiduciary or debt services funds and used toward debt service.
Financial Management Services Department has completed a reconciliation of COI projects and bond proceeds. The following adjustments are
required to balance the COI projects and property align residuals with their corresponding fiduciary or debt service funds:
• 30113 — Rock Creek SA CP 2018 Fund
Transfer $2,531.97 in cost of issuance project (City Project No. 101004) to the Rock Creek PID Custodial Fund. This transaction will balance
cost of issuance in Fund 30113.
• 30115 — Walsh Ranch PID Series 2024 Fund
Transfer $8,509.10 in cost of issuance project (City Project No. 101004) to the Walsh Ranch PID Custodial Fund. This transaction will
balance cost of issuance in Fund 30115.
• 34019 — Tax Notes 2018 Fund
Transfer $18,695.10 in cost of issuance project (City Project No. 101004) to the General Debt Service Fund. This transaction will balance
cost of issuance in Fund 34019.
• 34022 — Tax Notes 2021A Fund
Transfer $3,192.50 in cost of issuance project (City Project No. 101004) to the General Debt Service Fund. This transaction will balance cost
of issuance in Fund 34022.
• 34014 — 2014 Bond Program Fund (Proposition 7)
Move $828.84 in excess unappropriated bond proceeds to the General Debt Service Fund. This transaction will close out the project fund for
Proposition 7 of the 2014 Bond Program.
These financial transactions will ensure accurate accounting and proper alignment of project and debt service fund balances.
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 funds are available in the Rock Cr SA CP 2018, the Walsh Ranch PID Series 2024, TaxNote2018 and the Tax
Note 2021 A Funds within the Cost of Issuance project and in the 2014 Bond Program Fund within the Unspecified -All Funds project to support the
approval of the above recommendations and financial transactions to the identified debt service funds to efficiently expedite the clean-up and
close out of the project funds.
Submitted for Citv Manaaer's Office bv: Reginald Zeno 8517
Oriainatina Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Alex Laufer 2268