4B-R-04-33 - 10/26/2004 RESOLUTION NO. 04-33
RESOLUTION ADOPTING THE 2004-2005
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 2004-2005 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 2004-2005 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 26th day of October, 2004 .
ROUND ROCK TRANSPORTATIO► 1 -' RM
DEVELOP 1! ►.R'IRA
ATTEST• - ^ i� WELL, -
riA;7/ .
HA"7R®/ A4, Secretary
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•
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2004 - September 30, 2005
Estimated
Actual Actual Proposed
Budget Summary FY 02-03 FY 03-04 FY 04-05
10/01 Beginning Fund Balance $ 44,678,469 $ 40,967,407 $ 43,621,831
Less Reserve for Working Capital (1) (1,000,000) (1,000,000) (1,000,000)
Estimated Operating Revenue-
Sales Tax 11,255,916 12,160,742 12,220,000
Interest and Other 648,781 503,394 458,500
Loan Proceeds - - -
Transfers In 784,341 738,573 -
Total Funds Available 56,367,507 53,370,116 55,300,331
Budgeted Expenditures-
Administration &Project Management (170,404) (184,000) (184,000)
Debt Service (4,760,656) (4,760,995) (4,761,000)
Construction and Maintenance(2) (11,469,040) (5,803,290) (32,201,179)
Transfers Out - - -
Total Expenditures (16,400,100) (10,748,285) (37,146,179)
09/30 Estimated Unreserved Fund Balance $ 39,967,407 $ 42,621,831 $ 18,154,152
(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 formal budget control.
Expenditures shown include estimated FY 2004-2005 project costs.
EXHIBIT "A"
•
City of Round Rock
Round Rock Transportation System
Operating,Construction and Debt Service Budget
October 1,2004:September 30,2005 Estimated
Actual Actual Proposed
Budget Detail FY02-03 FY03-04 FY04-05
Revenue and Other Sources
Sales Tax Proceeds $11,255,916 $12,160,742 $12,220,000
Interest Income 611,890 503,394 458,500
Loan/Bond Proceeds - -
Transfers In-Outside 784,341 738,573 -
Proceeds-Sale of Assets 36,891 - -
Total Revenue $12,689,038 $13,402,709 $12,678,500
Operations Expenditures
Administration Costs
Contractual Services $11,340 $11,026 $11,026
Insurance 500 544 547
Supplies,Training,Transportation,Misc. - 925 927
Total Administration Costs 11,840 12,495 12,500
Legal Services
Contractual Services 15,550 14,745 14,748
Legal Notices 41 2,176 2,177
Total Legal Services 15,591 16,921 16,925
Financial Services
Contractual Services 31,890 31,830 31,828
Audit Fees - 2,873 2,872
Total Financial Services 31,890 34,703 34,700
•
Engineering Services
Contractual Services 111,083 119,881 119,875
Total Engineering Services
9 9 111,083 119,881 119,875
Total Operations Expenditures 170,404 184,000 184,000
Debt Service
Principal Retirement 2,194,136 2,289,108 2,387,000
Interest Expense P 2,565,910 2,470,738 2,372,000
Financing Fees 610 1,149 2,000
Total Debt Service 4,760,656 4,760,995 4,761,000
Transportation Capital Projects Expenditures
Traffic Light Signal Coordination 14,810 - 62,948
South Mays St.Extension 361,250 207,760 289,213
U.S.Highway 79 Improvements 55,148 440,167 264,108
A.W.Grimes/Arterial B 1,870,466 786,398 4,661,397
Arterial A 151,576,5 6 728,644 44,359
IH35 Tumarounds - 528,293 -
U.S.Highway 79 from 1460 to CR 195 80,430 1,894,083 4,864,200
SH 45 6,822,078 11,317 5,770,939
FM 1460 231 - 87,616
Forest Creek 65,876 20,119 3,338,216
Double Creek 1,112,750 398,775 852,964
CR 113/Kiphen Road 677,981 33,655 ' 722,470
Traffic Signals 82,580 300,166 923,203
Road Consulting 52,834 30,065 216,415
Hester's Crossing Bridge Replacement 51,113 38,195 1,489,014
1-35 Modifications 44,917 139,975 5,778,357
Palm Valley(Feasibility Study) - 8,159 79,241
CR 122 Phase 1 and 2 - - 596,706
County Road 122(Red Bud)Phase 3 - 237,520 2,159,813
Regional Mobility Study 25,000 - -
Total Capital Projects Expenditures 11,469,040 5,803,290 32,201,179
Total Expenditures $16,400,100 $10,748,285 $37,146,179
excel/REVISED 4B.xls
DATE: October 21, 2004
SUBJECT: Transportation System Development Corporation October 26, 2004
ITEM: 6.A Consider a resolution adopting the Operating Budget for
the Round Rock Transportaiton System Development
Corporation for Fiscal Year 2004-2005.
Department: Finance Department
Staff Person: Cindy Demers, Finance Director
Justification:
This budget will provide funding for debt service and administrative, financial,
legal and engineering services to the Transportation System Development
Corporation.
Funding:
Cost:
Source of funds: 1/2% Sales Tax for Transportation Improvements
Outside Resources: N/A
Background Information:
The budget provides funding for debt service and administrative, financial, legal
and engineering services to the Corporation. The budget is funded from a 1/2%
sales tax established for the purposes for the purposes of providing
transportation improvements. The Corporation oversees those improvements
with the further approval of the City Council.
Public Comment:
A meeting held on this date regarding the proposed Operating Budget for the
Round Rock Transportation System Development Corporation for FY 2004-2005.