R-13-08-08-G8 - 8/8/2013RESOLUTION NO. R -13-08-08-G8
WHEREAS, the City Council has previously adopted the 2012-2013 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 2012-2013 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 8th day of August, 2013.
32h-14
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.1304;00279191
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2012 - September 30, 2013
Budget Revision #3
Budget Summary
EXHIBIT
Original Budget Revised Budget #1 Revised Budget #2 Revised Budget #3 Revision #3
FY 12-13 FY 12-13 FY 12-13 FY 12-13 Variance
10/01 Beginning Fund Balance $ 54,209,243 $ 54,209,243 $ 54,209,243 $ 54,209,243 $ 0
Less Reserve for Working Capital ('" (1,000.000) (1,000,000) (1,000,000) (1,000,000) 0
Estimated Operating Revenue -
Sales Tax 15,000,000 15,000,000 15,000,000 16,100,000 1,100,000
Interest and Other 78,000 78,000 78,000 3,255,681 3,177,681
Rental Income 0 0 396,200 396,200 0
Total Funds Available $ 68,287,243 $ 68,287,243 $ 68,683,443 $ 72,961,124 $ 4,277,681
Budgeted Expenditures -
Administration & Project Management $ (232,000) $ (232.000) $ (232,000) $ (232,000) $ 0
Capital Expenditures (500,000) (500,000) (500.000) (500,000) 0
Economic Development (516,000) (711,750) (711,750) (711,750) 0
Property Expenditures 0 0 (142,100) (142,100) 0
Landlord Expenditures 0 0 (11,700) (11,700) 0
Debt Service (6,581,122) (6,581.122) (6,581,122) (6,581,122) 0
Construction - TCIP 1�1 (37,635,560) (37,635,560) (37,635,560) (38,968,708) (1,333,148)
Total Expenditures $ (45,464,682) $ (45,660,432) $ (45,814,232) $ (47,147,380) $ (1,333,148)
Prior Period Adjustment $ _ 0 $ . 0 $ 0 $ (566,000) $ (566,000)
09/30 Estimated Unreserved Fund Balance (') $ 22,822,561 $ 22,626,811 $ 22,869,211 $ 25,247,744 $ 2,378,533
(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 2012-2013 project costs.
(3) Funds are designated for capital improvement programs.
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2012 - September 30, 2013
Budget Revision #3
Original Budget Revised Budget #1 Revised Budget #2 Revised Budget #3 Revision #3
Budget Detail FY 12-13 FY 12-13 FY 12-13 FY 12-13 Variance
Revenue and Other Sources
Sales Tax Proceeds $ 15,000,000 $ 15,000,000 $ 15,000,000 $ 16,100,000 $ 1,100,000
Interest Income & Other 78,000 78,000 78,000 3,255,681 3,177,681
Rental Income 0 0 396,200 396,200 0
Total Revenue $ 15,078,000 $ 15,078,000 $ 15,474,200 19,751,881 $ 4,277,681
Operations Expenditures
Administration Costs
Contractual Services
Insurance
Supplies, Training, Transportation, Misc.
Total Administration Costs
Legal Services
Contractual Services
Total Legal Services
Financial Services
Contractual Services
Total Financial Services
Engineering Services
Contractual Services
Total Engineering Services
Total Operations Expenditures
28,700 $ 28,700 $ 28,700 $ 28,700 $ 0
500 500 500 500 0
1,000 1,000 1,000 1,000 0
30,200 30,200 30,200
14,200
14,200
34,000
34,000
153,600
153,600
14,200
14,200
34,000
34,000
153,600
153,600
14,200
14,200
34,000
34,000
153,600
153,600
$ 232,000 $ 232,000 $ 232,000 $
30,200 0
14,200
14,200
34,000
34,000
153,600
153,600
0
0
0
0
0
0
232,000 $ 0
Capital Expenditures
Traffic Signals $ 500,000 $ 500,000 $ 500,000 $ 500,000 $ 0
Total Capital Expenditures $ 500,000 $ 500,000 $ 500,000 $ 500,000 $ 0
Economic Development
Chamber of Commerce $ 516,000 $ 516,000 $ 516,000 $ 516,000 $ 0
Eco Dev Agreement - SPG 0 195,750 195,750 195,750 0
Total Economic Development $ 516,000 $ 711,750 $ 711,750 $ 711,750 $ 0
Commons Property
Property Expenditures $ 0 $ 0 $ 142,100 $ 142,100 $ 0
Landlord Expenditures 0 0 11,700 11,700 0
Total Commons Property $ 0 $ 0 $ 153,800 $ 153,800 $ 0
Debt Service
Principal Retirement $ 5,171,347 $ 5,171,347 $ 5,171,347 $ 5,171,347 $ 0
Interest Expense 1,408,775 1,408,775 1,408,775 1,408,775 0
Paying Agent Fees 1,000 1,000 1,000 1,000 0
Total Debt Service $ 6,581,122 $ 6,581,122 $ 6,581,122 $ 6,581,122 $ 0
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget (cont)
October 1, 2012 - September 30, 2013
Budget Revision #3
Original Budget Revised Budget #1 Revised Budget #2 Revised Budget #3 Revision #3
Budget Detail FY 12-13 FY 12-13 FY 12-13 FY 12-13 Variance
Transportation Capital Proiects Expenditures
Arterial A- Kenny Fort Blvd. $ 9,055,884 $ 9,055,884 $ 9,055,884 $ 10,076,287 $ 1,020,403
Traffic Signals 1,538,279 1,538,279 1,538,279 1,199,992 (338,287)
Road Consulting 0 0 0 224,885 224,885
South Mays at Gattis School Road 750,000 750,000 750,000 750,000 0
Gattis School Road Widening 0 0 0 200,000 200,000
FM 3406 1,363,255 1,363,255 1,363,255 385,500 (977,755)
RM620 at Union Pacific Railroad 1,883,938 1,883,938 1,883,938 4,996,289 3,112,351
SW Downtown Main St. Project #2,3 & 7 0 0 0 3,099 3,099
Chisholm Trail Phase 3 2,637,724 2,637,724 2,637,724 2,385,034 (252,690)
2011 Major Maintenance Program 178,181 178,181 178,181 583,603 405,422
2012-2017 Major Maintenance Program 1,849,244 1,849,244 1,849,244 4,419,683 2,570,439
Arterial Improvement Program 1,703,588 1,703,588 1,703,588 1,387,395 (316,193)
IH35 Ramp Reversal and Frontage Roads 617,900 617,900 617,900 524,703 (93,197)
Creekbend Blvd. 250,000 250,000 250,000 400,000 150,000
Chisholm Trail Road 5,100,000 5,100,000 5,100,000 4,423,918 (676,082)
Mays Street 824,506 824,506 824,506 1,096,650 272,144
SW Downtown Phase 4 4,741,677 4,741,677 4,741,677 2,482,305 (2,259,372)
La Frontera Streets 1,656,551 1,656,551 1,656,551 1,770,210 113,659
FM1460 from Georgetown to University 106,500 106,500 106,500 338,854 232,354
Traffic Management Center 333,333 333,333 333,333 340,400 7,067
Arterial Sidewalks 300,000 300,000 300,000 142,824 (157,176)
Major Bridge Maintenance 500,000 500,000 500,000 200,000 (300,000)
Median on University from IH35 to Sunrise 550,000 550,000 550,000 309,077 (240,923)
US79 from IH35 to Grimes -Engineering and ROW 200,000 200,000 200,000 0 (200,000)
Seton Parkway 695,000 695,000 695,000 178,000 (517,000)
Cypress Blvd. Realignment 800,000 800,000 800,000 150,000 (650,000)
Total Capital Projects Expenditures $ 37,635,560 $ 37,635,560 $ 37,635,560 $ 38,968,708 $ 1,333,148
Prior Period Adjustment
Total Expenditures
$ - $ - $ - $ 566,000 $ 566,000
$ 45,464,682 $ 45,660,432 $ 45,814,232 $ 47,713,380 $ 1,899,148
ROUND ROCK, TEXAS
MIME n moN Mann
City of Round Rock
Agenda Item Summary
Agenda Number: G.8
Title: Consider a resolution approving Amendment No. 3 to the FY2012-2013
Operating Budget for the Round Rock Transportation and Economic
Development Corporation.
Type: Resolution
Governing Body: City Council
Agenda Date: 8/8/2013
Dept Director: Cheryl Delaney, Finance Director
Cost:
Indexes:
Attachments: Resolution, Exhibit A
Text of Legislative File 13-579
The Round Rock Transportation System 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, 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 increases sales tax and contribution revenues as well as adds the expense of
the City's pay back of Dell sales tax over a 4 year period commencing in FY13.
Staff recommends approval
City of Round Rock Page 1 Printed on 8/5/2013