R-11-07 - 9/22/2011 RESOLUTION NO. 11-07
RESOLUTION ADOPTING THE 2011-2012
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 2011-2012 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 2011-2012 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 September, 2011.
By: OM
ALAN MCGRAW, President
Round Rock Transportation System Development
ATTEST:
— 'S all•V , Secretary
O:\wdox\SCClnts\0112\1104\MUNICIPAL\00232654.DOC/me
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1, 2011 - September 30, 2012
Actual Estimated Proposed
•
Budget Summary FY 09-10 FY 10-11 FY 11-12
10/01 Beginning Fund Balance $ 50,249,471 $ 53,135,809 $ 57,686,139
Less Reserve for Working Capital(1) (1,000,000) (1,000,000) (1,000,000)
Estimated Operating Revenue-
Sales Tax 15,406,285 13,500,000 14,366,750
Interest and Other 1,009,221 3,573,278 106,000
Loan Proceeds 0 5,718,248 0
Total Funds Available 65,664,977 74,927,334 71,158,889
Budgeted Expenditures-
Administration & Project Management (190,000) (190,000) (190,000)
Debt Service (6,825,000) (6,817,470) (6,739,971)
Construction -TCIP(2) (6,514,168) (11,233,725) (33,715,686)
Total Expenditures (13,529,168) (18,241,195) (40,645,657)
09/30 Estimated Unreserved Fund Balance $ 52,135,809 $ 56,686,139 $ 30,513,233
(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 2011-2012 project costs.
•
EXHIBIT
•
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget
October 1,2011 -September 30, 2012
Actual Estimated Proposed
Budget Detail FY 09-10 FY 10-11 FY 11-12
Revenue and Other Sources
Sales Tax Proceeds $ 15,406,285 $ 13,500,000 $ 14,366,750
Interest Income&Other 1,009,221 3,573,278 106,000
Loan/Bond Proceeds 0 5,718,248 0
Total Revenue 16,415,506 22,791,526 14,472,750
Operations Expenditures
Administration Costs
Insurance 500 500 500
Supplies,Training,Transportation,Misc. 1,000 1,000 1,000
Total Administration Costs 1,500 1,500 1,500
Legal Services
Contractual Services 14,200 14,200 14,200
Total Legal Services 14,200 14,200 14,200
Financial Services
Contractual Services 34,500 34,500 34,500
Total Financial Services 34,500 34,500 34,500
Engineering Services
Contractual Services 139,800 139,800 _ 139,800
Total Engineering Services 139,800 139,800 139,800
Total Operations Expenditures 190,000 190,000 190,000
Debt Service
Principal Retirement 4,251,116 4,714,878 4,872,184
Interest Expense 2,572,974 2,087,297 1,866,787
Paying Agent Fees 910 300 1,000
Refunding Escrow and Related 0 14,995 0
Total Debt Service 6,825,000 6,817,470 6,739,971
City of Round Rock
Round Rock Transportation System
Operating, Construction and Debt Service Budget(cont)
October 1, 2011 -September 30, 2012
Actual Actual Proposed
Budget Detail FY 09-10 FY 10-11 FY 11-12
Transportation Capital Projects Expenditures ••
Arterial B-AW Grimes Blvd. 12,360 0 0
Arterial A-Kenny Fort Blvd. 221,490 1,802,731 20,327,033
Arterial C 340,476 0 0
FM 1460-AW Grimes North (409,594) 21,815 0
CR 113/Kiphen Road/Old Settlers Blvd. 529,639 306,131 0
Traffic Signals 981,481 664,586 944,741
Road Consulting 167,799 136,867 310,071
Wyoming Springs Drive 2,260,986 669,051 0
Arterial M-North Mays Extension 501,993 2,320,015 0
Arterial M-3 9,706 0 0
Arterial M-4 2,500 0 0
Red Bud Lane Phase 4 853,202 510,641 0
South Mays at Gattis School Road 145,258 134,276 379,634
FM 3406 169,197 288,277 752,231
RM620 at Union Pacific Railroad 128 105,015 0
SW Downtown Main St. Project#1 107,825 3,655 1,088,520
SW Downtown Main St. Project#2,3&7 231,548 3,470,713 1,411,729
SW Downtown Main St. Project#4&5 234,608 392,784 0
Chisholm Trail Phase 3 0 0 500,000
2011 Major Maintenance Program 0 1,600 1,101,727
Arterial Improvement Program 0 0 500,000
Railroad Quiet Zones 0 13,567 0
Doublecreek 0 392,001 0
0 0 0
IH35 Ramp Reversal and Frontage Roads 0 0 1,000,000
Creekbend Blvd. 0 0 0
Signal Coordination 0 0 200,000
Right Turn Pockets 0 0 600,000
Chisholm Trail Road 0 0 3,440,000
Mays Street 0 0 0
SW Downtown 0 0 360,000
La Frontera Streets 0 0 200,000
Pavement Management-Seal Coat 0 0 500,000
Retainage Adjustment 153,566 0 0
Total Capital Projects Expenditures 6,514,168 11,233,725 33,715,686
Total Expenditures $ 13,529,168 $ 18,241,195 $ 40,645,657
Agenda Item No. 7B.
Consider a resolution approving the Operating Budget for the Round Rock Transportation
Agenda Caption: System Development Corporation for FY 2011-2012.
Meeting Date: September 22,2011
The Round Rock Transportation System Development Corporation 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.
This budget will provide funding for debt service and administrative, financial, legal and engineering services to the
Transportation System Development Corporation. The Round Rock Transportation System Development
Corporation will hold a meeting on this date regarding the proposed Operating Budget for the Round Rock
Transportation System Development Corporation for FY 2011-2012. The Corporation oversees those improvements
with the further approval of the City Council.