4B-R-09-01 - 1/22/2009 RESOLUTION NO. 09-01
RESOLUTION ADOPTING THE 2008-2009
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 2008-2009 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 2008-2009 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 22nd day of January, 2009 .
ROUND ROCK TRANSPORTATION SYSTEM
DEVELOPMENT CORPORATION
By: 0 � �6V
ALAN MCGRAW, President
ATTEST:
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JDL�Vif �v►v �—� Secretary
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City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2008 - September 30, 2009
Actual Actual Proposed
Budget Summary FY 06-07 FY 07-08 FY 08-09
10/01 Beginning Fund Balance $ 44,742,861 $ 44,117,426 $ 51,164,746
Less Reserve for Working Capital (1)
'(1,000,000) (1,000,000) (1,000,000)
Estimated Operating Revenue-
Sales Tax 17,247,023 17,032,415 16,341,667
Interest and Other 2,818,148 2,562,873 1,863,000
Federal Reimbursement 1,153,320 0 0
Loan Proceeds 0 16,798,622 0
Transfers In 318,194 0 0
Total Funds Available 65,279,546 79,511,336 68,369,413
Budgeted Expenditures-
Administration & Project Management (184,500) (190,500) (190,000)
Debt Service (9,211,549) (5,282,560) (6,827,000)
Construction -TCIP(2) (12,766,071) (23,873,530) (35,760,953)
Total Expenditures (22,162,120) (29,346,590) (42,777,953)
09/30 Estimated Unreserved Fund Balance $ 43,117,426 $ 50,164,746 $ 25,591,460
(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 2008-2009 project costs.
EXHIBIT
b
"A"
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2008 -September 30, 2009
Actual Actual Proposed
Budget Detail FY 06-07 FY 07-08 FY 08-09
Revenue and Other Sources
Sales Tax Proceeds $ 17,247,023 $ 17,032,415 $ 16,341,667
Interest Income&Other 2,818,148 2,562,873 1,863,000
Loan/Bond Proceeds 0 16,798,622 0
Federal Reimbursement 1,153,320 0 0
Transfers In-Outside 318,194 0 0
Total Revenue 21,536,685 36,393,910 18,204,667
Operations Expenditures
Administration Costs
Contractual Services 17,026 17,800 17,800
Insurance 500 500 500
Supplies,Training,Transportation, Misc. 927 1,000 1,000
Total Administration Costs 18,453 19,300 19,300
Legal Services
Contractual Services 11,472 14,700 12,000
Legal Notices 0 0 2,200
Total Legal Services 11,472 14,700 14,200
Financial Services
Contractual Services 34,700 34,500 34,500
Total Financial Services 34,700 34,500 34,500
Engineering Services •
Contractual Services 119,875 122,000 122,000
Total Engineering Services 119,875 122,000 122,000
Total Operations Expenditures184,500 190,500 • 190,000
Debt Service
Principal Retirement 7,022,246 3,280,091 4,267,000
Interest Expense 2,188,193 2,001,560 2,559,000
Paying Agent Fees 1,110 909 1,000
Total Debt Service 9,211,549 5,282,560 6,827,000
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2008 -September 30, 2009
Actual Actual Proposed
Budget Detail FY 06-07 FY 07-08 FY 08-09
Transportation Capital Projects Expenditures
Traffic Light Signal Coordination 0 23,905 708
A.W. Grimes/Arterial B 3,235,983 423,403 774,734
Arterial A 287,608 39,493 14,764,886
U.S. Highway 79 from 1460 to CR 195 335,668 118,974 2,015,151
SH 45 (1,190,710) 0 0
FM 1460 0 47,145 2,342,855
CR 113/Kiphen Road 3,465,981 4,341,091 3,660,472
Traffic Signals 73,725 372,552 2,478,247
Road Consulting 90,301 37,064 378,673
Nester's Crossing Bridge Replacement 1,521,401 13,642,338 1,469,306
1-35 Modifications 106,873 835,436 972,894
CR 122 Phase 1 and 2 521,718 0 0
County Road 122(Red Bud) Phase 3 3,392,346 187,387 0
Wyoming Springs Drive 0 208,232 4,999,768
Arterial M-North Mays Extension 0 222,876 1,903,259
Oakmont Drive 600 1,637,701 0
Teravista 0 1,249,500 0
Arterial T-Seton Parkway 619,477 571,915 0
Loan Issuance Costs 9,500 0 0
Retainage Adjustment 295,601 (85,482)
Total Capital Projects Expenditures 12,766,072 23,873,530 35,760,953
Total Expenditures $ 22,162,121 $ 29,346,590 $ 42,777,953
•
DATE: January 15, 2009
SUBJECT: Transportation System Development Corporation- January 22, 2009
ITEM: 7A1. Consider a resolution approving the Operating Budget for the Round Rock
Transportation System Development Corporation for FY2008-2009.
-Department: Finance
Staff Person: Cheryl Delaney, 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 1A%sales tax established
for the purposes of providing transportation improvements. The Corporation oversees those
improvements with the further approval of the City Council.
Public Comment: N/A