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 the actual expenditures correspond with budgeted expenses. The City contracts with FirstService Residential Texas, Inc. (FSR), to manage the Heritage PID. FSR has identified the need to increase the budgeted Holiday Lighting line item to fund additional holiday flag displays. Additionally, FSR has requested to shift funds to the Security Enhancements line item to add additional security patrols in the area. FSR has also identified the need to fund additional fence repairs due to high winds. Finally, FSR has identified a need to increase the Capital Improvements line item to replace a detention retaining wall in the District. This increase in appropriations will be completely offset by projected end of year savings and a corresponding decrease in budget, in the Landscape/Tree Maintenance, Common Area Maintenance and Public Events line items. Line Items to be Adjusted | Previously Approved FY16 Budget Item | Recommended Mid-Year Adjustment | Amended FY16 Budget Item | | Landscape/Tree Maintenance | $1,112,287.00 | -$50,000.00 | $1,062,287.00 | | Fence Maintenance | $90,000.00 | $5,000.00 | $95,000.00 | | Common Area Maintenance | $101,000.00 | -$15,000.00 | $86,000.00 | | Holiday Lighting | $27,000.00 | $1,000.00 | $28,000.00 | | Security Enhancement | $80,000.00 | $10,000.00 | $90,000.00 | | Public Events | $85,000.00 | -$11,000.00 | $74,000.00 | | Capital Improvements | $288,131.00 | $60,000.00 | $348,131.00 | | Total Budget Expenses | $2,233,751.00 | $0.00 | $2,233,751.00 |
Staff recommends an increase of $1,000.00 in the Holiday Lighting line item, an increase of $5,000.00 in the Fence Maintenance line item, an increase of $10,000.00 in the Security Enhancements line item, an increase of $60,000.00 in the Capital Improvements line item, a decrease of $50,000.00 in the Landscape/Tree Maintenance line item, a decrease of $15,000.00 in the Common Area Maintenance line item and a decrease of $11,000.00 in the Public Events line item for a total net increase of $0.00. All other previously approved line items not mentioned above will remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal Year 2016 will remain $2,233,751.00. The revised Budget and Five-Year Service Plan will take effect upon approval. This M&C does not request approval of a contract with a business entity.
The Heritage PID is located in COUNCIL DISTRICT 4. |
