4B-R-13-04 - 8/8/2013 RESOLUTION NO. 13-04
RESOLUTION ADOPTING THE 2013-2014
OPERATING BUDGET FOR THE ROUND ROCK
TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION
WHEREAS, the Board of Directors of the Round Rock Transportation and Economic
Development Corporation wishes to adopt an operating budget for fiscal year 2013-2014 in accordance
with the attached proposal,Now Therefore
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK
TRANSPORTATION AND ECONOMIC DEVELOPMENT CORPORATION,
That the operating budget for fiscal year 2013-2014 be adopted as set forth in Exhibit "A"
attached hereto and incorporated herein for all purposes.
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: Ohl/1 -
ALAN MCGRAW, President
Round Rock Transportation and Economic
Development Corporation
ATTEST: %
277i-
IVl i V- ' 'Q.o( i Vl SCV) , Secretary
0112.1304;00279193
City of Round Rock EXHIBIT
Round Rock Transportation System it An
Operating, Construction and Debt Service Budget A
October 1, 2013-September 30, 2014
Actual Revised Proposed
Budget Summary FY 11-12 FY 12-13 FY 13-14
10/01 Beginning Fund Balance $ 56,362,273 $ 54,209,243 $ 26,247,744
Less Reserve (1) (1,000,000) (1,000,000) (2,800,000)
Estimated Operating Revenue-
Sales Tax 15,826,479 16,100,000 15,300,000
Interest and Other 5,330,022 3,255,681 1,080,000
Rental Income - 396,200 271,000
Federal Reimbursement 600,000 0 0
Transfers In 126,672 0 0
Total Funds Available $ 77,245,446 $ 72,961,124 $ 40,098,744
Budgeted Expenditures-
Administration&Project Management $ (190,000) $ (232,000) $ (266,000)
Capital Expenditures 0 (500,000) 0
Economic Development (225,000) (711,750) (575,000)
Property Expenditures 0 (142,100) (170,000)
Landlord Expenditures 0 (11,700) (25,100)
Debt Service (6,564,184) (6,581,122) (6,593,435)
Construction-TCIP(2) (17,057,019) (38,968,708) (27,669,711)
Transfers Out 0 0 0
Total Expenditures $ (24,036,203) $ (47,147,380) $ (35,299,246)
Prior Period Adjustment $ 0 $ (566,000) $ (566,000)
09/30 Estimated Unreserved Fund Balance(3) $ 53.209.243 $ 25.247.744 $ 4.233.498
(1) Reserve established for Working Capital and Debt Service.
(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 1,2013-September 30,2014
Actual Revised Proposed
Budget Detail FY 11-12 FY 12-13 FY 13-14
Revenue and Other Sources
Sales Tax Proceeds $ 15,826,479 $ 16,100,000 $ 15,300,000
Interest Income&Other 5,330,022 3,255,681 1,080,000
Rental Income 0 396,200 271,000
Total Revenue $ 21,756,501 $ 19,751,881 $ 16,651,000
Operations Expenditures
Administration Costs
Contractual Services $ 17,800 $ 28,700 $ 30,500
Insurance 500 500 500
Supplies,Training,Transportation,Misc. 1,000 1,000 1,000
Total Administration Costs 19,300 30,200 32,000
Legal Services
Contractual Services 14,200 14,200 16,000
Total Legal Services 14,200 14,200 16,000
Financial Services
Contractual Services 34,500 34,000 44,000
Total Financial Services 34,500 34,000 44,000
Engineering Services
Contractual Services 122,000 153,600 174,000
Total Engineering Services 122,000 153,600 174,000
Total Operations Expenditures $ 190,000 $ 232,000 $ 266,000
Capital Expenditures
Traffic Signals $ 0 $ 500,000 $ 0
Total Capital Expenditures $ 0 $ 500,000 $ 0
Economic Development
Chamber of Commerce $ 225,000 $ 516,000 $ 500,000
Eco Dev Agreement 0 195,750 75,000
Total Economic Development $ 225,000 $ 711,750 $ 575,000
Commons Property
Property Expenditures $ 0 $ 142,100 $ 170,000
Landlord Expenditures 0 11,700 25,100
Total Commons Property $ 0 $ 153,800 $ 195,100
Debt Service
Principal Retirement $ 5,076,698 $ 5,171,347 $ 5,313,257
Interest Expense 1,509,232 1,408,775 1,279,178
Paying Agent Fees 800 1,000 1,000
Refunding Escrow and Related (22,546) 0 0
Total Debt Service $ 6,564,184 $ 6,581,122 $ 6,593,435
City of Round Rock
Round Rock Transportation System
Operating,Construction and Debt Service Budget(cont)
October 1,2013-September 30,2014
Actual Revised Proposed
Budget Detail FY 11-12 FY 12-13 FY 13-14
Transportation Capital Projects Expenditures
Arterial A-Kenny Fort Blvd. $ 8,360,890 $ 10,076,287 $ 0
Traffic Signals 591,132 1,199,992 564,307
Road Consulting 87,971 224,885 0
South Mays at Gattis School Road 73,231 750,000 0
Gattis School Road Widening 0 200,000 300,000
FM 3406 181,320 385,500 127,843
RM620 at Union Pacific Railroad 234,270 4,996,289 5,310,631
Southwest Downtown 2,3,7 1,601,897 3,099 0
Chisholm Trail Phase 3 573,377 2,385,034 1,641,589
2011 Major Maintenance Program 912,774 583,603 0
2012-2017 Major Maintenance Program 238,451 4,419,683 2,852,800
Arterial Improvement Program 391,426 1,387,395 455,610
IH35 Ramp Reversal and Frontage Roads 550,514 524,703 1,540,000
Creekbend Blvd. 0 400,000 3,800,000
Chisholm Trail Road 0 4,423,918 676,082
Mays Street 419,234 1,096,650 594,116
SW Downtown Phase 4 883,467 2,482,305 6,736,633
La Frontera Streets 1,929,819 1,770,210 0
FM1460 from Georgetown to University 17,646 338,854 0
Traffic Management Center 9,600 340,400 0
Arterial Sidewalks 0 142,824 157,177
Major Bridge Maintenance 0 200,000 0
Median on University from IH35 to Sunrise 0 309,077 240,923
Seton Parkway 0 178,000 1,822,000
Cypress Blvd.Realignment 0 150,000 850,000
Total Capital Projects Expenditures $ 17,057,019 $ 38,968,708 $ 27,669,711
Prior Period Adjustment $ 0 $ 566,000 $ 566,000
Total Expenditures $ 24,036,203 $ 47,713,380 $ 35,865,246
City of Round Rock
"ROUND ROCK,TEXAS
PURPOSE.EROSION PXospURrrO
Agenda Item Summary
Agenda Number: E.2
Title: Consider a resolution approving the Operating Budget for the Round Rock
Transportation and Economic Development Corporation for FY2013-2014.
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 13-601
City of Round Rock Page 1 Printed on 8/5/2013