R-12-03-22-11F1 - 3/22/2012 RESOLUTION NO. R-12-03-22-11F1
WHEREAS, the City Council has previously adopted the 2011-2012 Round Rock
Transportation and Economic Development Corporation Operating Budget, and
WHEREAS, the City Council wishes to amend said budget in accordance with the
attached proposal,Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the 2011-2012 Round Rock Transportation and Economic Development
Corporation Operating Budget is amended as set forth in Exhibit "A" attached hereto and
incorporated herein.
The City Council hereby finds and declares that written notice of the date, hour, place
and subject of the meeting at which this Resolution was adopted was posted and that such
meeting was open to the public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted upon, all as required by
the Open Meetings Act, Chapter 551, Texas Government Code, as amended.
RESOLVED this 22nd day of March, 2012.
P�
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTESTT: Nit
s�//,V - • V
SARA L. WHITE, City Clerk
0:\Waax\sccints\o>>s\isaa\MUNICIP L\00245587.nocirmc
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2011 -September 30, 2012
Budget Revision#1
Original Budget Revised Budget Revision#1
Budget Summary FY 11-12 FY 11-12 Variance
10/01 Beginning Fund Balance $ 57,686,139 $ 57,686,139 $ 0
Less Reserve for Working Capital�'� (1,000,000) (1,000,000) 0
Estimated Operating Revenue-
Sales Tax 14,366,750 14,366,750 0
Interest and Other 106,000 106,000 0
Loan Proceeds 0 0 0
Total Funds Available $ 71,158,889 $ 71,158,889 $ 0
Budgeted Expenditures-
Administration&Project Management $ (190,000) $ (190,000) $ 0
Economic Development 0 (225,000) (225,000)
Debt Service (6,739,971) (6,739,971) 0
Construction-TCIP(Z) (33,715,686) (33,715,686) 0
Total Expenditures $ (40,645,657) $ (40,870,657) $ (225,000)
09/30 Estimated Unreserved Fund Balance $ 30,513,232 $ 30,288,232 $ (225,000)
(1) Working Capital established at$1,000,000
(2) The Transportation Capital Improvement Projects(TCIP)are project-oriented rather than
period-oriented and for this reason are not intended to be bound by annual budget control.
Expenditures shown include estimated FY 2011-2012 project costs.
EI
BIT
„
City of Round Rock
Round Rock Transportation System
Operating,Construction and Debt Service Budget
October 1,2011 -September 30,2012
Budget Revision#1
Original Budget Revised Budget Revision#1
Budget Detail FY 11-12 FY 11-12 Variance
Revenue and Other Sources
Sales Tax Proceeds $ 14,366,750 $ 14,366,750 $ 0
Interest Income&Other 106,000 106,000 0
LoanBond Proceeds 0 0 0
Total Revenue $ 14,472,750 $ 14,472,750 $ 0
Operations Expenditures
Administration Costs
Contractual Services $ 0 $ 17,800 $ 17,800
Insurance 500 500 0
Supplies,Training,Transportation,Misc. 1,000 1,000 0
Total Administration Costs 1,500 19,300 17,800
Legal Services
Contractual Services 14,200 14,200 0
Total Legal Services 14,200 14,200 0
Financial Services
Contractual Services 34,500 34,500 0
Total Financial Services 34,500 34,500 0
Engineering Services
Contractual Services 139,800 122,000 (17,800)
Total Engineering Services 139,800 122,000 (17,800)
Total Operations Expenditures $ 190,000 $ 190,000 $ 0
Economic Development
Chamber of Commerce $ 0 $ 225,000 $ 225,000
Total Economic Development $ 0 $ 225,000 $ 225,000
Debt Service
Principal Retirement $ 4,872,184 $ 4,872,184 $ 0
Interest Expense 1,866,787 1,866,787 0
Paying Agent Fees 1,000 1,000 0
Refunding Escrow and Related 0 0 0
Total Debt Service $ 6,739,971 $ 6,739,971 $ 0
City of Round Rock
Round Rock Transportation System
Operating,Construction and Debt Service Budget(cont)
October 1,2011 -September 30,2012
Budget Revision#1
Actual Actual Proposed
Budget Detail FY 11-12 FY 11-12 Variance
Transportation Capital Projects Expenditures
Arterial B-AW Grimes Blvd. $ 0 $ 0 $ 0
Arterial A-Kenny Fort Blvd. 20,327,033 20,327,033 0
Arterial C 0 0 0
FM 1460-AW Grimes North 0 0 0
CR 113/Kiphen Road/Old Settlers Blvd. 0 0 0
Traffic Signals 944,741 944,741 0
Road Consulting 310,071 310,071 0
Wyoming Springs Drive 0 0 0
Arterial M-North Mays Extension 0 0 0
Arterial M-3 0 0 0
Arterial M-4 0 0 0
Red Bud Lane Phase 4 0 0 0
South Mays at Gattis School Road 379,634 379,634 0
FM 3406 752,231 752,231 0
RM620 at Union Pacific Railroad 0 0 0
SW Downtown Main St.Project#1 1,088,520 1,088,520 0
SW Downtown Main St.Project#2,3&7 1,411,729 1,411,729 0
SW Downtown Main St.Project#4✓3<5 0 0 0
Chisholm Trail Phase 3 500,000 500,000 0
2011 Major Maintenance Program 1,101,727 1,101,727 0
Arterial Improvement Program 500,000 500,000 0
Railroad Quiet Zones 0 0 0
Doublecreek 0 0 0
0 0 0
IH35 Ramp Reversal and Frontage Roads 1,000,000 1,000,000 0
Creekbend Blvd. 0 0 0
Signal Coordination 200,000 200,000 0
Right Tum Pockets 600,000 600,000 0
Chisholm Trail Road 3,440,000 3,440,000 0
Mays Street 0 0 0
SW Downtown 360,000 360,000 0
La Frontera Streets 200,000 200,000 0
Pavement Management-Seal Coat 500,000 500,000 0
Retainage Adjustment 0 0 0
Total Capital Projects Expenditures $ 33,715,686 $ 33,715,686 $ 0
Total Expenditures $ 40,645,656.60 $ 40,870,656.60 $ 225,000
'�ROUND ROCK,TEXAS City Council Agenda Summary Sheet
PURPOSE WSIOK PROSPEWN
Agenda Item No. 11F1.
Consider a resolution amending the 2011-2012 Round Rock Transportation and Economic
Agenda Caption: Development Corporation Operating Budget.
Meeting Date: March 22, 2012
Department: Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
The Round Rock Transportation and Economic Development Corporation budget is funded from a 1/2% sales tax
established for the purposes of providing transportation improvements. In August of 1997, voters authorized the
adoption of an additional sales and use tax within the City at the rate of one-half of one percent, with the proceeds
thereof to be used for streets, roads, drainage and other related transportation system improvements, including the
payment of maintenance and operating expenses associated with such authorized projects. The additional sales and
use tax became effective January 1, 1998. In November of 2011, voters approved Proposition No. 10 authorizing
existing Type B sales and use tax to be used for promotion of economic development activities. Economic
development seeks to improve the economic well-being and quality of life of a community by creating and/or
retaining jobs that facilitate growth and provide a stable tax base.
The Type B budget provides funding for debt service and administrative, financial, legal and engineering services to
the Transportation System Development Corporation. This amendment allows for funding of the Round Rock
Chamber of Commerce (Chamber)to be included to this budget. The Chamber will provide services which promote
or expand new business opportunities which Benefit the City.
The Round Rock Transportation and Economic Development Corporation will hold a meeting on this date regarding
the proposed amendment budget for the Round Rock Transportation System Development Corporation for FY 2011-
2012. The Corporation oversees the allocation of funds with the further approval of the City Council.
Cost:
Source of Funds:
Date of Public Hearing(if required): N/A
Recommended Action: Approval