1996-01-15SOUTHLAKE PARKS DEVELOPMENT CORPORATION
%W January 15,1996
MINUTES
Members Present: David Yelton, President; Gary Fickes, Ralph Evans, Janet Murphy, Sally Hall,
and Rod Johnson (after approval of minutes).
Staff Present: Director of Finance Lou Ann Heath; Director of Parks and Recreation Kim
McAdams; City Manager Curtis E. Hawk; and City Secretary Sandra LeGrand.
President David Yelton called the meeting to order at 6:05. Mr. Yelton expressed thanks to Gary
Fickes for his letter about the importance of attending and maintaining regular meeting dates for
SPDC.
Agenda Item #2. Approval of Minutes.
Motion was made to approve the minutes of the SPDC/JUC/Park Board joint meeting on October
16, 1995, as corrected.
Motion:
Fickes
Second:
Evans
Ayes:
Fickes, Evans, Murphy, Hall, Yelton
Nays:
none
Approved:
5-0
Agenda Item #3. Progress Report of Projects and Financial Report.
Director of Parks & Recreation Kim McAdams reported on the following items: (1) Bicentennial
Park expansion project is 99.5% complete --final walk through with inspectors and architects of
the punch list is being done this week and next; (2) CMS gym/recreation center is 99.9%
complete-45,000 remains on the contract. Warren Anderson, project manager, is drafting a plan
for additional parking in front of the new gym; (3) Durham gym/cafetorium and fields
construction is complete; looking into lighting for the parking lot; (4) On the West Beach
project --the City has purchased an additional 17 acres. City staff is discing, grading, and
removing the mesquite trees on the land. Property may be ready to use this spring for practice
fields; (5) Master Plans --Parks, Recreation and Open Space Master Plan is being done in-house.
Completion is expected by April; Staff is sending out RFPs for the West Beach Park Master Plan
consultant. Hope to have a consultant lined up by the end of February; Staff is looking at the
possibility of a Bicentennial Park Expansion, Phase II master plan.
David Yelton questioned how the lights would be set up for Durham. McAdams commented that
they could be set up on a timer.
SPDC Meeting 1/15/96
Page 2
Sally Hall questioned the 17-acre purchase of land near West Beach that the City purchased and
whether or not the Parks Development Corporation fund would reimburse the City. City
Manager Curtis E. Hawk believes that any purchase for park land by the general fund should be
reimbursed --not this budget year but perhaps the next. Ms. Hall commented that she thought that
Council understood that since the 17-acre tract was not being used for a Public Works Facility it
would be traded for some other land within the West Beach property. City Manager Curtis E.
Hawk does not recall that Council committed to putting a public works maintenance facility at
West Beach. We did talk about putting a park & recreation maintenance facility at West Beach
and maybe, on a temporary basis, use some of that for public works kinds of things. Ms. Hall
commented that she would like to see identified what is park and what is City on paper.
David Yelton questioned how we came up with 218 acres of corp land. McAdams commented
that they surveyed West Beach, from the meets and bounds, and from that Eddie Cheatham can
figure out the 218 acres as corp land (to a contour in the lake).
Director of Finance Lou Ann Heath presented to the members the financial report. The first
report represents a period from the inception of the sales tax collection (Park) to 12/31/95. Ms.
Heath pointed out that for November the sales tax went up 114.8%. Ms. Heath commented that
Wal Mart was making a big difference. Gary Fickes commented that if Home Depot builds in
Southlake they will also make a tremendous difference in the sales tax. Ms. Heath also pointed
out that the monthly report for the SPDC Project Fund and Operating Fund is included for
r„ member information.
Ms. Heath commented that she had visited with Kim McAdams to discuss establishing a policy
for maintaining a minimum amount for the operating fund and use what is more than that to
either: (1) leverage to use as debt service payment annually or (2) future bond sales, or (3) to
designate a portion of it for specific capital projects. David Yelton commented that he would
like to see SPDC start paying as we go --start with a smaller percentage and work our way up to a
greater percentage.
Agenda Item #4. Consider Closing Phase II contract with J.T. Dunkin.
Director of Parks and Recreation Kim McAdams informed the members that in 1994 the City
contracted with JT Dunkin to do construction plans for Phase I and II at $120,000. Now that the
Phase II construction plans are not needed until 1997 because of the increase in scope of work to
be done, staff recommends that the contract with JT Dunkin be closed and the remaining $9,632
be retained. McAdams suggested that a portion of this money could be used for the Bicentennial
Park Master Plan.
Motion was made to close out the Phase II contract with JT Dunkin and retain the $9,632
remaining on the contract.
*►•►
Motion: Fickes
Second: Hall
Ayes: Fickes, Hall, Murphy, Yelton, Johnson, and Evans
Approved: 6-0
SPDC Meeting 1 / 15/96
Page 3
``' Atienda Item #5. Consider RFP's for Bicentennial Park Master Plan.
Janet Murphy questioned why this needed to go through SPDC if it is coming out of Park
Dedication Fees. City Manager Curtis E. Hawk commented that if more funds are needed, it
might be a project we will want to turn to SPDC for help.
Motion was made to instruct City staff to advertise for RFP's for Bicentennial Park Master Plan.
Motion: Fickes
Second: Johnson
Ayes: Fickes, Johnson, Murphy, Hall, Evans, Yelton
Approved: 6-0
Aeenda Item #6, 7, & 8. Discussion of funding from Durham Gymnasium, parking at Carroll
Middle School, and purchase of property adjacent to Bicentennial Park for Phase II.
David Yelton commented that these items for discussion were a result of the joint meeting held
with SPDC, JUC, and the Park Board in October. Members discussed the need for each item.
Mr. Yelton commented that setting priorities would be hard --we are committed to do all three
now. He suggested that we proceed and pay as we go as soon as we can. Rod Johnson
questioned whether they could finance the items over a period of a couple of years.
Director of Finance Lou Ann Heath suggested that as an alternative, we could structure the
expenditures for these items into the Ph II expansion/construction plans for the next bond sale.
This could be accomplished when we program the next sale of bonds --the latter part of the
year. For now, Ms. Heath suggested that we could use the money that would be remaining in
the existing funds to acquire the land. Ms. Heath commented that she was referring to the
project fund. Once they pay all of the projects that are currently in progress, there will be
money remaining (approximately $400,000). Nothing had been programmed to be spent this
year because we did not know what might be out there. We did look at using some funds for
matching funds on grants.
Members recommended that all items be included on the next SPDC meeting as consider items
including an item for matching funds for a grant.
Ms. Heath added that about funding for the Durham gym, she would suggest that we try to
work out an agreement with CISD to pay them annually for their debt. Members agreed that
this would be something to pursue.
David Yelton recommended that it was probably time to mention in the next citizens'
newsletter what SPDC has been doing lately.
SPDC Meeting 1 / 15/96
Page 4
Discussion Item.
David Yelton informed the Members that they had received a letter from June Haney asking
for support from SPDC on funding a Tennis Center.
City Manager Curtis E. Hawk suggested that Mr. Yelton place this request on the next
meeting agenda and invite Ms. Haney to attend the meeting.
There being no further business to discuss motion was made to adjourn the meeting.
Motion: Fickes
Second: Rod
Ayes: Fickes, Evans, Murphy, Hall, Yelton, Johnson
Nays: none
Approved: 6-0
City Secretary
C: \ W P51 \MIN-AGN\SPDC9601.MIN/kb
IR
SLSTAX96.WK4
CITY OF SOUTHLAKE
SOUTHLAKE PARKS DEVELOPMENT CORPORATION
SALES TAX REVENUES
1,025,061
1995-96
collected
budget
balance
budget
%670.500
to date
34 l
balance
S328.813
percent
49.04%
, _687
FISCAL
FISCAL
FISCAL
YEAR
YEAR
% Inc
YEAR
% Inc
MONTH
93/ 4
24195
-Dec
4526
-Dec
October
$0
$44,975
n/a
$64,344
43.1%
November
0
26,049
n/a
55,958
114.8%
December
0
33,622
n/a
51,987
54.6%
January
0
47,843
n/a
70,181
46.7%
February
0
34,007
n/a
47,635
40.1%
March
0
28,300
n/a
51,581
82.3%
April
0
44,106
n/a
0
-100.0%
May
29,145
40,554
39.1%
0
-100.0%
June
29,788
41,627
39.7%
0
-100.0%
July
47,079
67,593
43.6%
0
-100.0%
August
29,490
54,792
85.8%
0
-100.0%
September
37,614
53.282
41.7%
0
-100.0%
TOTAL
$173,116
$516,751
$341,687
59.1%
04/15/96
CITY OF SOUTHLAKE
SALES TAX REVENUES
six year comparison
1995-96 collected budget balance
budget to date balance percent
$1.341.000 S683.374 $657.626 49.04%
MONTH
FISCAL
YEAR
90/91
FISCAL
YEAR
91/92
% Inc
-Dec
FISCAL
YEAR
92/93
% Inc
-Dec
FISCAL
YEAR
93/94
% Inc
-Dec
FISCAL
YEAR
94/95
% Inc
-Dec
FISCAL
YEAR
95/96
% Inc
-Dec
October
$44,081
$46,731
6.0%
$50,956
9.0%
$99,408
95.1%
$89,951
-9.5%
$128,689
43.1%
November
37,117
27,929
-24.8%
42,126
50.8%
50,623
20.2%
52,099
2.9%
111,917
114.8%
December
28,464
33,273
16.9%
33,850
1.7%
70,155
107.3%
67,243
-4.2%
103,975
54.6%
January
47,106
40,012
-15.1%
67,713
69.2%
106,541
57.3%
95,687
-10.2%
140,362'
46.7%
February
22487
40,106
78.4%
39,351
-1.9%
57,839
47.0%
68,015
17.6%
95,269'
40.1%
March
32,955
37,488
13.8%
44,176
17.8%
59,378
34.4%
56,600
-4.7%
103,1613<
82.3%
April
41,445
57,543''
38.8%
68664I
19.3%
87,438`
27.3%
88,212
0.9%
0
-100.0%
May
36,627
41,020'
12.0%
54,623'
33.2%
58,291.
6.7%
81,109
39.1%
0
-100.0%
ae
37,894
43,105
13.8%
52,027
20.7%
59,577
14.5%
83,253
39.7%
0
-100.0%
July
47,017
51,357
9.2%
8095,67
56.9%
94,157
16.9%
135,197
43.6%
0
-100.0%
August
35,951
48,731
35.5%
48 290
-0.9%
58,980
22.1%
109,594
85.8%
0''
-100.0%
September
37,004
42,741
15.5%
54,395
27.3%
75,228
38.3%
106,563
41.7%
Q
-100.0%
TOTAL
$448,148
$510036'
13.8%
$6367381
24.8%
$877,615
37.8%
$1,033,502
17.8%
$683,3741'
59.1%
SISTAX96. WK4
First month of 1/2 cent additional sales tax.
REPORT DATE 04/15/96
City of Southlake
Sales Tax Analysis
FY1995-96
1 % Sales Tax
Actual
Budget
Actual
Estimated
(est-budg)
%
Month
1994-95
1995-96
1995-96
1995-96
Difference
Chanae
October
89,951
116,949
128,689
128,689
11,740
10.04%
November
52,099
77,204
111,917
111,917
34,713
44.96%
December
67,243
93,105
103,975
103,975
10,870
11.67%
January
95,687
122,971
140,362
140,362
17,391
14.14%
February
68,015
93,916
95,269
95,269
1,353
1.44%
March
56,600
81,930
103,163
103,163
21,233
25.92%
April
88,212
115,123
0
115,123
0
0.00%
May
81,109
107,664
0
107,664
(0)
-0.00%
June
83,253
95,741
0
95,741
0
0.00%
July
135,187
164,446
0
164,446
(0)
-0.00%
August
109,584
137,563
0
137,563
(0)
-0.00%
September
106,563
134,388
0
134,388
(01
-0.00%
Total
1,033,503
1,341,000
683,375
1,438,300
97,300
7.26%
% increase
29.75%
39.17%
4iw
Month
1 /2% Sales Tax
Actual Budget Actual Estimated (est-budg) %
1994-95 199 - 1995-96 1995-96 Difference Change
October
44,976
58,474
64,345
64,345
5,870
10.04%
November
26,050
38,602
55,959
55,959
17,357
44.96%
December
33,622
46,553
51,988
51,988
5,435
11.67%
January
47,844
61,486
70,181
70,181
8,695
14.14%
February
34,008
46,958
47,635
47,635
677
1.44%
March
28,300
40,965
51,581
51,581
10,616
25.92%
April
44,106
57,561
0
57,561
(0)
-0.00%
May
40,555
53,832
0
53,832
(0)
-0.00%
June
41,627
47,870
0
47,870
(0)
-0.00%
July
67,594
82,223
_ 0
82,223
(0)
-0.00%
August
54,792
68,782
0
68,782
0
0.00%
September
53,282
67,194
Q
67,194
(W
-0.00%
Total
516,752
670,500
341,687
719,149
48,649
7.26%
04/t 5/96
slsest96.wk4
Budget for 1995-96 assumes a 5% increase on actual estimated 1994-95 collections plus
C,405,000 annual for Walmart.
SOUTHLAKE PARKS DEVELOPMENT CORPORATION
Fiscal Policy
General Fiscal Policy. Southlake Parks Development Corporation sales tax receipts will be
annually designated during the normal budget process:
1. For payment of annual requirements for principal and interest on sales tax
revenue bond debt service;
2. To establish and maintain an operating reserve;
3. For Park Capital Projects;
4. For operational expenditures to support park projects.
Reserve P91icy. The Southlake Parks Development Corporation will retain, as a minimum, 15%
of the current fiscal year's budgeted sales tax revenues as an operating reserve. This reserve will
be used for unanticipated expenditures and to offset lower than expected sales tax receipts.
Funds in excess of the minimum operating reserve may be designated for park capital
improvements when approved by the SPDC Board and Southlake City Council in the annual
budget process or in the form of a budget amendment during the budget year. A transfer from
the SPDC Operating Fund to the SPDC Capital Projects Fund will be made for the approved park
capital improvements.
Revenue Policy. Conservative estimates of sales tax receipts will be used for budget purposes.
Estimates may be made using historical trends, anticipated new retail outlets, and existing retail
sales tax base growth.
Debt Management Policy. Sales tax revenue bonded debt may be issued for approved capital
projects only if projected annual sales tax receipts will equal or exceed one and one-half times
the average annual debt service requirement.
Budget Polices The SPDC will operate on a fiscal year basis, beginning October 1 and ending
September 30. An annual operating, debt service, and capital projects budget will be adopted by
the SPDC Board and presented to the Southlake City Council in conjunction with the annual
budget process for the City of Southlake.
Investment Policy. Investment of SPDC funds will be made according to the current approved
Investment Policy of the City of Southlake.