4B-R-07-06 - 11/8/2007 RESOLUTION NO. 07-06
RESOLUTION ADOPTING THE 2007-2008
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 2007-2008 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 2007-2008 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 November, 2007 .
ROUND ROCK T" SP► ' �TI� STET
DEVELOPM.. m s eyrdA 4#11
By:
; 1 TEST: N . ` • WEL , President
t 1610
i ulls� , Secretary
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City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2007 - September 30, 2008
Estimated
Actual Actual Proposed
Budget Summary FY 05-06 FY 06-07 FY 07-08
10/01 Beginning Fund Balance $ 41,213,793 $ 44,742,862 $ 44,077,102
Less Reserve for Working Capital (1) (1,000,000) (1,000,000) (1,000,000)
Estimated Operating Revenue-
Sales Tax 16,233,945 17,247,023 17,433,333
Interest and Other 2,247,715 2,847,052 2,000,000
Federal Reimbursement - 1,153,320 -
Loan Proceeds 6,201,377 - 16,800,000
Transfers In 1,131,910 318,195 -
Total Funds Available 66,028,740 65,308,452 79,310,435
Budgeted Expenditures-
Administration & Project Management (184,000) (184,500) (190,000).
Debt Service (4,760,854) (9,280,780) (5,284,325)
Construction -TCIP(2) (17,341,024) (12,766,070) (37,374,799)
Total Expenditures (22,285,878) (22,231,350) (42,849,124)
09/30 Estimated Unreserved Fund Balance $ 43,742,862 $ 43,077,102 $ 36,461,311
(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 2007-2008 project costs.
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City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1,2007-September 30,2008 Estimated
Actual Actual Proposed
Budget Detail FY 05-06 FY 06-07 FY 07-08
Revenue and Other Sources
Sales Tax Proceeds $ 16,233,945 $ 17,247,023 $ 17,433,333
Interest Income&Other 2,247,715 2,847,052 2,000,000
Loan/Bond Proceeds 6,201,377 - 16,800,000
Federal Reimbursement - 1,153,320 -
Transfers In-Outside 1,131,910 318,195
Total Revenue 25,814,947 21,565,590 36,233,333
Operations Expenditures
Administration Costs
Contractual Services 12,991 17,713 17,800
Insurance 500 500 500
Supplies,Training,Transportation,Misc. - 927 1,000
Total Administration Costs 13,491 19,140 19,300
Legal Services
' Contractual Services 15,925 11,472 12,000
Legal Notices - 2,177 2,200
Total Legal Services 15,925 13,649 14,200
Financial Services
Contractual Services 34,703 31,836 34,500
Total Financial Services 34,703 31,836 34,500
Engineering Services
Contractual Services 119,881 119,875 122,000
Total Engineering Services 119,881 119,875 122,000
Total Operations Expenditures 184,000 184,500 190,000
Debt Service •
Principal Retirement 2,492,388 7,022,246 3,272,325
Interest Expense 2,267,857 2,257,424 2,011,000
Paying Agent Fees 609 1,110 1,000
Total Debt Service 4,760,854 9,280,780 5,284,325
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2007 -September 30,2008 Estimated
Actual Actual Proposed
Budget Detail FY 05-06 FY 06-07 FY 07-08
Transportation Capital Projects Expenditures
Traffic Light Signal Coordination 4,655 - 24,614
South Mays St. Extension 13,846 -A.W. Grimes/Arterial B 5,878,364 3,235,983 1,197,928
Arterial A 53,057 287,608 203,578
U.S. Highway 79 from 1460 to CR 195 178,468 335,668 ' 1,484,125
SH 45 - (1,190,710) -
FM 1460 - - 550,000
Forest Creek 380,385 - -
Double Creek 138,714 -
CR 113/Kiphen Road 1,673,623 3,465,981 7,589,981
Traffic Signals 327,141 73,725 1,265,696
Road Consulting 3,575 90,301 415,737
Hester's Crossing Bridge Replacement 824,246 1,530,901 15,111,643
1-35 Modifications 7,045,213 106,873 1,808,329
Palm Valley(Feasibility Study) 4,440 - -
CR 122 Phase 1 and 2 640,353 521,718 33,891
County Road 122(Red Bud)Phase 3 147,307 3,687,945 972,116
Greenlawn Extension 5,679 - -
Oakmont Drive 21,868 600 2,213,143
Teravista 90 - 1,249,910
.Arterial T-Seton Parkway - 619,477 3,254,108
Total Capital Projects Expenditures 17,341,024 12,766,070 37,374,799
Total Expenditures $ 22,285,877 $ 22,231,350 $ 42,849,124
DATE: November 1, 2007
SUBJECT: Transportation System Development Corporation - November 8, 2007
ITEM: 7B. Consider a resolution approving the Operating Budget for the Round
Rock Transportation System Development Corporation for FY 2007 -
2008.
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 of providing transportation improvements. The Corporation
oversees those improvements with the further approval of the City Council.
This budget will provide funding for debt service and administrative, financial, legal and
engineering services to the Transportation System Development Corporation.
Source of funds: 1/2% Sales Tax for Transportation Improvements