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4B-R-13-03 - 8/8/2013 RESOLUTION NO. 13-03 WHEREAS, the Round Rock Transportation and Economic Development Corporation (formerly Round Rock Transportation System Development Corporation), has previously adopted the 2012-2013 Operating Budget, and WHEREAS, the Round Rock Transportation and Economic Development Corporation wishes to amend said Budget,Now Therefore BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION, That the amended 2012-13 Round Rock Transportation and Economic Development Corporation Operating Budget, attached hereto as Exhibit "A", is hereby approved. The Board of Directors 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. By: y ALAN MCGRAW, President Round Rock Transportation and Economic Development Corporation ATTES�T: � ldiA-s---- pw g VISD1 ) , Secretary 0112.1304;00279192 City of Round Rock EXHIBIT Round Rock Transportation System fix, 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 Summary FY 12-13 FY 12-13 FY 12-13 FY 12-13 Variance 10/01 Beginning Fund Balance S 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-TCIPm (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(3) $ 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 8,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 $ 28,700 $ 28,700 $ 28,700 $ 28,700 $ 0 Insurance 500 500 500 500 0 Supplies,Training,Transportation,Misc. 1,000 1,000 1,000 1,000 0 Total Administration Costs 30,200 30,200 30,200 30,200 0 Legal Services Contractual Services 14,200 14,200 14,200 14,200 0 Total Legal Services 14,200 14,200 14,200 14,200 0 Financial Services Contractual Services 34,000 34,000 34,000 34,000 0 Total Financial Services 34,000 34,000 34,000 34,000 0 Engineering Services Contractual Services 153,600 153,600 _ 153,600 153,600 0 Total Engineering Services 153,600 153,600 153,600 153,600 0 Total Operations Expenditures $ 232,000 $ 232,000 $ 232,000 $ 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 Projects 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 $ - $ - $ - $ 566,000 $ 566,000 Total Expenditures • $ 45,464,682 $ 45,660,432 $ 45,814,232 $ 47,713,380 $ 1,899,148 City of Round Rock ''ROUND ROCK,TEXAS PURPOSE Pnwon PROSPERITY Agenda Item Summary Agenda Number: E.1 Title: Consider a resolution approving Amendment No. 3 to the FY 2012-2013 Operating Budget for the Round Rock Transportation and Economic Development Corporation. Type: Resolution Governing Body: Transportation and Economic Development Corporation (Type B) Agenda Date: 8/8/2013 Dept Director: Cheryl Delaney, Finance Director Cost: Indexes: Attachments: Resolution, Exhibit A Text of Legislative File 13-600 City of Round Rock Page 1 Printed on 8/5/2013