R-13-05-23-I3 - 5/23/2013RESOLUTION NO. R -13-05-23-I3
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 23rd day of May, 2013.
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ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
O:\wdox\SCClnts\0112\ l 304\MUMCIPAL\00274 525.DOC/rmc
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2012 - September 30, 2013
Budget Revision #2
Budget Summary
10/01 Beginning Fund Balance
Less Reserve for Working Capital
Estimated Operating Revenue -
Sales Tax
Interest and Other
Rental Income
Total Funds Available
Budgeted Expenditures -
Administration & Project Management
Capital Expenditures
Economic Development
Property Expenditures
Landlord Expenditures
Debt Service
Construction - TCIP (2)
Total Expenditures
09/30 Estimated Unreserved Fund Balance
EXHIBIT
"Aly
Original Budget Revised Budget #1 Revised Budget #2
FY 12-13 FY 12-13 FY 12-13
$ 45,065,579 $ 45,065,579 $ 45,065,579 $
(1,000,000) (1,000,000) (1,000,000)
Revision #2
Variance
0
0
15,000,000
15,000,000
15,000,000
0
78,000
78,000
78,000
0
0
0
396,200
396,200
$ 59,143,579 $
59,143,579 $
59,539,779
$ 396,200
$ (232,000) $
(232,000) $
(232,000)
$ 0
(500,000)
(500,000)
(500,000)
0
(516,000)
(711,750)
(711,750)
0
0
0
(142,100)
(142,100)
0
0
(11,700)
(11,700)
(6,581,122)
(6,581,122)
(6,581,122)
0
(37,635,560)
(37,635,560)
(37,635,560)
0
$ (45,464,682) $
(45,660,432) $
(45,814,232)
$ (153,800)
$ 13,678,897 $
13,483,147 $
13,725,547
$ 242,400
(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.
City of Round Rock
ROUND ROCK TEXAS
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Agenda Item Summary
Agenda Number: 1.3
Title: Consider a resolution approving the action of the board of directors of the
Round Rock Transportation and Economic Development Corporation in
amending the 2012-2013 operating budget
Type: Resolution
Governing Body: City Council
Agenda Date: 5/23/2013
Dept Director: Cheryl Delaney, Finance Director
Cost: $0.00
Indexes: RR Transportation and Economic Development Corporation (Type B)
Attachments: Resolution, Exhibit A
Text of Legislative File 13-315
The Round Rock Transportation and Economic Development Corporation (Type B) 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
recognizes the revenues and expenses related to the management of the Commons Property, which
was purchased as part of the right-of-way acquisition for the construction of a bridge over RM 620.
The property is currently being managed by DT Land Group, which provides monthly financial
information to the City.
The Round Rock Transportation and Economic Development Corporation will hold a meeting on this
date regarding the proposed second amendment to the budget for the Round Rock Transportation
System Development Corporation for FY 2012-2013. The Corporation oversees the allocation of
funds with the further approval of the City Council.
Cost: 0.00
Source of Funds: N/A
Staff recommends approving this amendment.
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