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Home My WebLink AboutResolution 4324-06-2014 I I A Resolution NO. 4324-06-2014 APPROVING AN AMENDED BUDGET FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 8 (CAMP BOWIE PID) FOR FISCAL YEAR 2013-2014 I WHEREAS, pursuant to Resolution No. 3697-12-2008 the City Council re-established the Fort ! Worth Public Improvement District No. 8(the"Camp Bowie PID")on December 16, 2008; and WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on September 10, 2013 the City Council approved a budget for the 2013-2014 fiscal year and a five-year service plan for the Camp Bowie PID pursuant to M&C BH-303; and WHEREAS, pursuant to City Secretary Contract No. 44122, the City has contracted with Camp Bowie District, Inc. (the "CBDI')to manage the day-to-day administration of the Camp Bowie PID for the 2013-2014 fiscal year; and WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the I City has assigned to the CBDI the responsibility for preparing the annual budget and five-year service plan for the Camp Bowie PID; and i WHEREAS, in accordance with the City's Policy and Guidelines for Public Improvement Districts ("PIDs"), adopted by the City Council pursuant to Resolution No. 3711-02-2009, 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 CBDI 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 Camp Bowie PID for the 2013-2014 fiscal year; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,TEXAS THAT: 1. The following amended budget for the Camp Bowie PID is hereby approved for the remainder of the 2013-2014 fiscal year: RTWOItT -T i I 4 I I FYI 3/14 REVENUES I i PID Assessments $ 403,510 I City Payment in-lieu of Services $ 39,761 j Prior Year's Assessment $ 105,000 Total Revenue., $ 548,271 i EXPENSES Management Fee $ 78,000 Water $ 15,000 Utilities $ 800 j Landscape Management Fee $ 38,000 I Median/ROW Mowing $ 47,261 Beautification $ 121,300 Capital Improvements $ 5,000 Economic Development $ 15,000 Communications/Newsletters $ 10,000 A Marketing $ 78,000 Public Events $ 66,000 Insurance $ 4,000 Annual Review(Audit) $ 14,000 City Administrative Fee $ 8,070 i I Budget Expenses $ 500,431 I Estimated Operating Reserve $ 47,840 Total Expenses $ 548,271 I 2. This Resolution shall take effect immediately following its adoption. 4f f Adopted this 10th day of June, 2014. i �Q.�a�-a�,nn P ATTEST: `Oc55�IFOooIRr 40 Ji7�� oc oQ��¢ 9 Q„�o By' -- — — — --- ---- Oo ° I J *�� 000p,*�� Mary J. s r, Cit ecretary Coco �y b� i II I ORT WORT i 1 I I i I I City of Fort Worth PROPOSED FIVE YEAR SERVICE PLAN Public Improvement District No. 8-Camp Bowie FY13/14 FY14/15 FY15/16 FY16/17 FY17/18 REVENUES i PID Assessments $ 403,510 $405,000 $ 408,000 $410,000 $ 412,000 j City Payment in-lieu of Services $ 39,761 $ 39,761 $ 39,761 $ 39,761 $ 39,761 I Prior Year's Assessment $ 105,000 $ 47,840 $ 52,240 $ 87,841 $ 98,402 i Total Revenues $ 548,271 $492,601 $ 500,001 $537,602 $ 550,163 i EXPENSES i Management Fee $ 78,000 $ 78,000 $ 80,000 $ 82,000 $ 84,000 Water $ 15,000 $ 15,000 $ 18,000 $ 20,000 $ 20,000 ! Utilities $ 800 $ 2,500 $ 3,000 $ 3,500 $ 3,800 f Landscape Management Fee $ 38,000 $ 39,000 $ 39,000 $ 39,000 $ 39,000 Median/ROW Mowing $ 47,261 $ 47,261 $ 55,000 $ 55,000 $ 55,000 Beautification $ 121,300 $ 38,000 $ 105,000 $ 120,000 $ 135,000 Capital Improvements $ 5,000 $ 132,000 $ - $ - $ Economic Development $ 15,000 $ 15,000 $ 15,000 $ 15,000 $ 15,000 Communications/Newsletters $ 10,000 $ 6,000 $ 10,000 $ 10,000 $ 10,000 Marketing $ 78,000 $ 29,000 $ 40,000 $ 45,000 $ 45,000 Public Events $ 66,000 $ 12,000 $ 18,000 $ 20,000 $ 20,000 Insurance $ 4,000 $ 4,500 $ 5,000 $ 5,500 $ 5,500 Annual Review(Audit) $ 14,000 $ 14,000 $ 16,000 $ 16,000 $ 16,000 City Administrative Fee $ 8,070 $ 8,100 $ 8,160 $ 8,200 $ 8,400 j Budget Expenses $ 500,431 $440,361 $ 412,160 $439,200 $ 456,700 f Estimated Operating Reserve $ 47,840 $ 52,240 $ 87,841 $ 98,402 $ 93,463 I Total Expenses $ 548,271 $492,601 $ 500,001 $537,602 $ 550,163 ! i i I I h I I ! If 1 i t f i i i I I City of Fort Worth, Texas Mayor and Council Communication f �„_ COUNCIL.ACTION:-:Approved on-6/10%2014 .Resolu#ion.No: 4324-06=201`4- DATE: Tuesday, June 10, 2014 REFERENCE NO.: **G-18229 LOG NAME: 17PID8MIDYEARFY14 SUBJECT: Adopt Resolution Approving the Revised Fiscal Year 2013-2014 Budget and Service Plan for Public Improvement District No. 8, Camp Bowie PID (COUNCIL DISTRICTS 3 and 7) RECOMMENDATION: I It is recommended that the City Council adopt a Resolution approving the revised Fiscal Year 2013-2014 Budget and Service Plan for Public Improvement District No. 8, Camp Bowie PID. DISCUSSION: The City of Fort Worth administers the City's Public Improvement Districts (PIDs), in accordance with Chapter 372 of the Texas Local Government Code. The City Policy and Guidelines provides for Staff to conduct a mid-year review of the annual budget of all PIDs and recommend adjustments as needed so that actual expenditures correspond with budgeted expenses. This year, Staff has received one request for a mid-year budget revision from the Camp Bowie PID. The Camp Bowie PID has incurred some significant expenses resulting from damage caused by a car j wreck to the median landscaping in the Ridglea area and for the installation of a water meter needed to complete the final phase of the Ridglea median landscaping irrigation. In addition, the PID has experienced increased water expenses due to a large tree and landscaping installation at Loop 820 West and Camp Bowie that was made possible through a grant from the Texas Department of Transportation (TxDOT) in 2013. Originally, it was anticipated that TxDOT would pay for irrigating the trees for up to three years or until the trees were established. For matters that were out of the PID's control, TxDOT only paid for the first three months and the PID took over paying for the water at that location at the beginning of the Fiscal Year (FY). Through savings on public events for FY 2014, along with a request to defer payment on the streetlight project under capital improvements, the PID can absorb these additional expenses. The amount of j $5,000.00 will be paid to the Transportation and Public Works department for the previously completed streetlight project. The remaining payment in the amount of$132,888.93 will be paid in full in FY 2015 as I soon as funds are available from property assessments, toward the end of the first quarter. Previously Approved Recommended Mid- Amended FY14 Line Items to be Admusted FY14 Budget Items Year Adjustment Budget Items Water $10,000.00 $5,000.00 $15,000.00 Beautification $101,500.00 $19,800.00 $121,300.00 Capital Improvements $38,000.00 <$33,000.00> $5,000.00 Public Events $71,000.00 <$5,000.00> $66,000.00 i Recommendation: A $19,800.00 increase in beautification, based on the need for additional median Pa e 1 of 2 Logname: 17PID8MIDYEARFYI4 g .� I enhancements along Camp Bowie and a $5,000.00 increase in water expenses resulting in a net budget increase amount of$24,800.00. The mid-year budget adjustment will also increase the estimated operating reserve from $10,640.00 to $47,840.00. The FY 2014 revised budget will be in the amount of $548,271.00. The revised budget and service plan will take effect upon approval. j I The Camp Bowie Corridor PID is located in COUNCIL DISTRICTS 3 and 7. 1 FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that this action will have no material effect on City I funds. FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers j I CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Cynthia B. Garcia (8187) Additional Information Contact: Ossana Hermosillo (6203) I i I 1 i f i I 1 I Logname: 17PID8MIDYEARFYI4 Page 2 of 2 f