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HomeMy WebLinkAboutPRFD 2006-08-28 Agendas THE BOARD OF DIRECTORS OF THE NORTH RICHLAND HILLS PARKS AND RECREATION FACILITIES DEVELOPMENT CORPORATION AGENDA AUGUST 28,2006 - 6:15 P.M. For the Meeting conducted at the North Richland Hills City Hall Council Chambers, 7301 Northeast Loop 820, at 6:15 p.m. The below listed items are placed on the Agenda for discussion and/or action. Persons with disabilities who plan to attend this meeting and who may need assistance should contact the City Secretary's office at 817-427-6060 two working days prior to the meetin so that a ro riate arran ements can be made. NUMBER ITEM ACTION TAKEN 1. Call to Order 2. FDC 2006-003 Public Hearing on the Park & Recreation Facilities Development Corporation Proposed Operating Budget and Authorize Adoption 3. FDC 2006-004 Public Hearing on the Park & Recreation Facilities Development Corporation Proposed Capital Projects Budget and Authorize Adoption 4. Adjournment Certification I do hereby certify that the above notice of meeting of the Board of Directors of the North Richland Hills Park and Recreation Facilities Development Corporation was posted at City Hall, City of North Richland Hills, Texas in compliance with Chapter 551, Texas Government Code on August 2.5..... 20~,?' ~ . (1(1 A ofuo \\~. Secr ry of Corp oration NORTH RICHLAND HILLS PARK AND RECREATION FACILITIES DEVELOPMENT CORPORATION Date: 8/28/06 Subject: Public Hearinq on the Park and Recreation Facilities Development Corporation Proposed Annual Operating Budget and Authorize Adoption Control Number: FDC 2006-03 The State laws regarding the Park and Recreation Facilities Development Sales Tax require the Corporation Board to hold a public hearing prior to the adoption of the budget. The notice of this public hearing was published in the Star Telegram newspaper in accordance with State law. The public hearing for the 2006-2007 Park and Recreation Facilities Development Corporation budget was advertised for 6:15 p.m., August 28,2006. The proposed 2006-2007 Park and Recreation Facilities Development Corporation Annual Operating Budget was reviewed by the City Council August 4, 2006 at the City's annual budget work session. The proposed budget for 2006-2007 is $4,309,648. And the revised budget for 2005-2006 is $4,317,856. A summary report is attached for your review. The Park and Recreation Facilities Development Corporation Board met on August 24, 2006 to discuss the proposed 2006-2007 Park and Recreation Facilities Development Operating Budget. The Board consensus was to support the proposed budget and submit it for the public hearing, August 28, 2006. The operating budget will be presented during the public hearing. In order to obtain maximum input of the citizens on the proposed budget, it is suggested that the public hearing be opened and public comment permitted. Recommendation: To conduct a public hearing and to take action to approve the revised 2005-2006 and the proposed 2006-2007 Annual Operating Budget and recommend Council approval. Source of Funds: Bonds Operating Budget -~f o ect of Parks and Recreation Account Number It ~ ~b~~ T~,"'e' , d~f:itp¥ENT I FDC ACTION ITEM I Page 1 of 1 FISCAL YEAR 2006-2007 SCHEDULE 6 - SUMMARY OF REVENUES AND EXPENDITURES PARK AND RECREATION FACILITIES DEVELOPMENT FUND ADOPTED REVISED PROPOSED ACTUAL ACTUAL BUDGET BUDGET BUDGET FY 2003/04 FY 2004/05 FY 2005/06 FY 2005/06 FY 2006/07 REVENUES Sales Tax $4,107,934 $3,855,727 $3,861,112 $3,861,112 $3,899,723 Interest Income 71,415 91,236 86,000 86,000 78,375 Youth Assn. Maintenance Fees 28.798 23,805 28,500 29,000 29,000 Tennis Center Revenue 289,375 280,505 310,750 294,750 302,550 Other Income 132,296 215,107 0 0 0 Appropriation - PY Encumbrances 0 0 0 46,994 0 TOTAL REVENUES $4,629,818 $4,466,380 $4,286,362 $4,317,856 $4,309,648 EXPENDITURES Operatina Park Facilities Development Admin. $413,202 $271,649 $494,435 $451,188 $452,322 Parks & Public Grounds 897,424 1,138,096 1,310,632 1,313,065 1,503,978 Tennis Center Operations 435,514 434,607 491,085 478,042 517.731 Sub-Total $1,746,140 $1,844,352 $2,296,152 $2,242,295 $2,474,031 Other & Reserves Debt Service - Revenue Bonds $1,151,008 $1,143,171 $1,002,823 $1,002,823 $1,138,083 Debt Service - CO's 218,744 212,196 205,425 205,425 191,919 Indirect Costs 241,582 253,659 261,269 261,269 274,332 Market Adjustment 0 0 0 0 22,116 Non-Departmental 0 12,859 13,450 13,450 14,181 Reserve for Economic Development 0 250,000 193,056 193,056 194,986 Reserve for Capital Projects 1,272,344 750,143 314,187 352,544 0 Sub-Total $2,883,678 $2,622,028 $1,990,210 $2,028,567 $1,835,617 Previous Year Encumbrances 46,994 TOTAL EXPENDITURES $4,629,818 $4,466,380 $4,286,362 $4,317,856 $4,309,648 BALANCE $0 $0 $0 $0 $0 10 NORTH RICHLAND HILLS PARK AND RECREATION FACILITIES DEVELOPMENT CORPORATION Date: 8/28/06 Subject: Public Hearinq on the Park and Recreation Facilities Development Corporation Proposed Capital Projects Budget and Authorize Adoption Control Number: FDC 2006-04 The State laws regarding the Park and Recreation Facilities Development Sales Tax require the Corporation Board to hold a public hearing prior to the adoption of the budget. The notice of this public hearing was published in the Star Telegram newspaper in accordance with State law. The public hearing for the 2006-2007 Park and Recreation Facilities Development Corporation Fund was advertised for 6:15 p.m., August 28,2006. The proposed 2006-2007 Park and Recreation Facilities Development Corporation Capital Projects Budget was reviewed by the City Council August 5, 2006 at the City's annual budget work session. The proposed budget for 2006-2007 is $1,964,889. A summary report is attached for your review. The Park and Recreation Facilities Development Corporation Board met on August 24, 2006 to discuss the proposed 2006-2007 Park and Recreation Facilities Development Capital Budget. The Board consensus was to support the proposed capital budget and submit it for the public hearing, August 28, 2006. The Capital Projects Budget will be presented during the public hearing. In order to obtain maximum input of the citizens on the proposed budget, it is suggested that the public hearing be opened and public comment permitted. Recommendation: To conduct a public hearing and to take action to approve the proposed 2006-2007 Capital Projects Budget and recommend Council approval. Source of Funds: Bonds Operating Budget ~~parkS and Recreation Account Number ðt&,((/~<->-,- T,..,.re, ~ \uJ daljí~NT I I I FDC ACTION ITEM I Page 1 of 1 Schedule 4 2006/2007 Park and Recreation Capital Projects Budget Summary Map E.g" ID No. Project To Date Proposed 2006/2007 Estimated 2007/2008 Remaining Amount 1 2 3 4 5 6 7 8 9 10 11 $75,447 40,950 $593,786 $0 201,325 76,210 485,354 165,111 ° 530,268 310,000 ° $35,000 $10,000 $0 $0 40,000 20,000 0 0 0 145,000 155,000 0 253,593 76,865 0 0 64,210 20,000 ° 0 260,139 79,319 0 0 290,464 193,708 1,442,518 473,310 356,763 115,554 0 ° 70,800 29.200 ° 0 804 ° 149,196 0 422,985 330.615 ° 0 12 13 141 Total Continuing Projects $2,071,530 $1,667,689 $3,135,854 $638,421 17 $0 0 0 200,000 0 0 ° $0 0 0 ° 0 ° $25,000 30.000 37.000 89,200 25,000 61.000 30,000 $0 24,000 0 15.000 275,000 0 0 14 145 15 147 16 149 Total New Projects $0 $297,200 $314,000 $200,000 Future Projects 18 - Cross Timbers Park Development Phase II 19 - Girl's Fast Pitch Softball Complex II 20 Little Bear Creek Community Park 21 - Northfield Park Redevelopment 22 - Stonybrooke Neiç hborhood Park ~~~ $2,500,000 2,500,000 1,550,000 2,800,000 450,000 Total Future Projects $0 $0 Total $710,183 928,000 840,268 $45,000 60,000 300,000 330,458 84,210 339,458 2,400,000 472,317 100,000 150,000 753,600 $7,513,494 $25,000 54,000 37,000 304,200 300,000 61,000 30,000 $811,200 $2,500,000 2,500,000 1,550,000 2,800,000 450,000 $0 $9,800,000 $9,800,000 Total Project Costs $2,071,530 $1,964,889 $3,449,854 $10,638,421 $18,124,694 $3,4 70,520 $502,200 $309,000 $10,000,000 $14,281,720 0 0 150,000 0 150,000 529.010 601,766 1,455,925 1,106,273 3,692,974 $3,999,530 $1,103,966 $1,914,925 $11,106,273 $18,124,694 Sources of Funds Sales Tax Reserve for CIP TEA-21 Grant Funds ISTEA Grant Funds Total Sources of Funds 9