4B-R-98-01 - 5/14/1998 RESOLUTION NO. 98-01
RESOLUTION ADOPTING THE 1997-98
OPERATING BUDGET FOR THE ROUND ROCK
TRANSPORTATION SYSTEM DEVELOPMENT CORPORATION
WHEREAS, the Board of Directors of the Round Rock
Transportation System Development Corporation wishes to adopt an
operating budget for fiscal year 1997-98 in accordance with the
attached proposal, Now Therefore
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE ROUND ROCK
TRANSPORTATION SYSTEM DEVELOPMENT CORPORATION,
That the operating budget for fiscal year 1997-98 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, and
the Act .
RESOLVED this 14th day of May, 1998 .
ROUND OCK TRANSPORTATION SYSTEM
DEVELOP ENT CORPORATION
By:
(2 J/4/
CHARLES CULP PER, President
ATTEST:
Auec WL-IL
GAYLA xNBECK, Secretary
K:\WPDOCS\RESOLUTI\RRTSDC\9801.WPD/scg
City of Round Rock
Round Rock Transportation System
Proposed Operating and Construction Budget
—lober 1, 1997 - September 30, 1998
(proposed) (memo only)
Budget Summajr[ FY 1997-98 FY 1998-99
10/01 Beginning Fund Balance $ 0 $ 63,122
Less Reserve for Working Capital (*1) $ (250,000) $ (100,000)
Estimated Operating Revenue $ 2,552,146 $ 4,758,541
Transfers In $ 3,100,000 - $ 0
Total Funds Available $ 5,402,146 $ 4,721,663
Budgeted Expenditures:
Administration & Project Management $ (124,025) $ (126,973)
Construction and Maintenance (*2) $ (5,215,000) $ (1,425,000)
Transfers Out $ 0 $ (3,100,000)
09/30 Estimated Unreserved Fund Balance $ 63,122 $ 69,690
*1 Working Capital established at $350,000 (minimum) over 2 years
*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 formal budget
control. However, because of the current nature of funding for these projects and the
cash flow implications, the project expenditures have been estimated over two fiscal
years.
ecodv98b, page 1
City of Round Rock - Round Rock Transportation System
Proposed Operating and Construction Budget
October 1, 1997 - September 30, 1998
Proposed (memo only)
+fidget Detail FY1997-98 FY1998-99
Revenue
Sales Tax Proceeds $2,536,578 $4,735,781
Interest Income 15,568 22,760
Transfer In from 1997 Certificates of Obligation 3,100,000 0
Total Revenue $5,552„146 $4.7_5_8 541
Proposed (memo only)
Operations Expenditures FY97-98 FY98-99
Administration Costs
Contractual Services $8,400 $8,736
Insurance - 725 761
Supplies, Training, Transportation, Misc. 850 884
Total Administration Costs 9,975 10,381
Legal Services
Contractual Services 10,000 8,000
Legal Notices 1,500• 1,500
Total Legal Services 11,500 9,500
Financial Services
Contractual Services 24,200 25,168
Audit Fees 1,500 2,000
Total Financial Services 25,700 27,168
Engineering Services
Contractual Services- 76,850 79,924
Total Engineering Services 76,850 79,924
Total Operations Expenditures 124.025 12&9L3
Transportation Capital Projects Expenditures
Greenlawn Extension 2,075,000 1,425,000
IH35 Turnarounds 3,100,000 0
Traffic Signal Coordination 40,000 0
Reimburse City for transfer from 1997 Certificates of Obligation 0 , 3,100,000
Total Capital Projects Expenditures 5,215,000 4,525,000
Aal Expenditures $5,339,025 $4,651,973
ecodv98b, page 2
May 14,1998
Item No. 6
Adoption of the 1997-1998 Operating Budget for the Round Rock Transportation System Development
Corporation.
The budget provides funding for administrative,financial,legal and engineering services to the
Corporation. The budget is funded from a'/2%sales tax established for the purpose of providing
transportation improvements.