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1996-08-19SOUTHLAKE PARK DEVELOPMENT CORPORATION MEETING 667 North Carroll Avenue Southlake, Texas 76092 August 19, 1996 MINUTES MEMBERS PRESENT: David Yelton, President, W. Ralph Evans, Vice -President. Members: Pamela Muller, Rick Stacy, Carol Lee Hamilton, Scott Martin, and Rod Johnson. MEMBERS ABSENT: none STAFF PRESENT: Curtis E. Hawk, City Manager; Lou Ann Heath, Director of Finance; Kim Lenoir, Director of Parks & Recreation and Sandra L. LeGrand, City Secretary. Agenda Item #1, Call to Order President David Yelton called the meeting to order at 6:05 p.m. A quorum was present. Agenda Item #2, Approval of the Minutes The minutes of the July 15, 1996 meeting were approved with corrections. Agenda Item #3, Discussion: 1996-97 Budget Proposals Finance Director Lou Ann Heath reviewed the SPDC FY1996-97 Budget memo (attached to minutes). Kim Lenoir, Parks and Recreation Director, presented a list (attached) of projects with budget estimates for the Board's review and consideration. The Board was asked to prioritize the list and bring back to the next SPDC meeting on September 19. Agenda Item #4, Adjournment A motion was made to adjourn the meeting. *andra T: �aH Yelton, Pr si nt v� HLA�F L. LeGrand City Secretary Co D:\WP-FILES\SPDC\MINUTES\96-08-19. SPDC MINUTES -- REGULAR _JGUST 19, 1996 Page 1 of 1 City of Southlake, Texas MEMORANDUM August 15, 1996 DRAFT TO: Southlake Park Development Corporation Board FROM: Kim McAdams Lenoir, Director of Parks and Recreation SUBJECT: Project Budgets Following is a list of projects discussed with budget estimates for your review and consideration. Land Acquisition: Bicentennial Park Brunson Property 400,000 Bank Property 300,000 Buffer Area 300,000 Bob Jones Park West Beach Lots 400,000 Neighborhood Parks (5 to 10 acres) 500,000 Community Park (Westside - 30 acres) 750,000 Construction Projects: Bicentennial Park One Mile 10' wide concrete trail 150,000 Playground Pavilion 50,000 In -line Hockey Rink 125,000 Basketball Courts (3) 50,000 Tennis Center (8 courts) 500,000 Sound buffer 250,000 Bob Jones Park Soccer Fields (11) 430,000 Restroom/Concession 250,000 CMS Parking Lot 50,000 6' wide Dove/White Chapel Trail (2 miles) 300,000 Outstanding Grant Applications: 1709 Hike and Bike Trail $3,110,779 622,155 Hwy 26 Hike & Bike Trail $240,000 48,000 Bob Jones Park $500,000 500,000 If you have any questions please call me at 481-5581 ext 757. KML City of Southlake, Texas &ILMUTILOJ 1:11 I u August 19, 1996 TO: Southlake Parks Development Corporation Board Members FROM: Lou Ann Heath, Director of Finance SUBJECT: Available Funding for the SPDC FY1996-97 Budget The proposed budget for the fiscal year that begins October 1, 1996 has been presented to the City Council for their consideration on first reading at the August 20 Council meeting. Final adoption of the budget is scheduled for September 3. The proposed budget consists of an operating budget, and a capital projects budget. SPDC accounts for its resources in three funds: an Operating Fund, Debt Service Fund, and a Capital Projects Fund. The FY1996-97 budget that has been presented to the City Council maintains the partial funding for the Parks and Recreation Director's salary and benefits in the Operating Fund, with the remainder of the salary and benefits included in the General Fund. The Debt Service Fund includes the amounts required for the annual debt service on sales tax bonds. Sales tax is estimated at $923,000 for FY1996-97, interest income at $44,000, Personnel/benefits at $55,029, and debt service on bonds at $345,770. There have been no amounts in the FY 1996-97 proposed budget identified for SPDC Capital Projects, since the SPDC Board needs to consider the priority of identified projects. These priorities should then be matched to the funding available. For FY1996-97, there is $1.781 million available for projects from the following sources: Operating Fund $574,000 Revenue Bonds -New issue $750,000 Revenue Bonds -Funds Remaining $457,000 Total FY 1996-97 Funding Available for capital projects $1,781,000 You may recall that SPDC will be required to refund, or retire, $1 million in outstanding revenue bonds that were issued in 1994. These bonds were issued at 6.5%, with an escalation clause to 15 % that becomes effective in August 1997. Any additional revenue bonds proposed for FY1996- 97 would be combined with this refunding in order to save issuance costs. LAH PROPOSED BUDGET 1996-97 ALL FUNDS SUMMARY Special Revenue General Debt Service Utility Parks/ Eund Eund Eund Recreation SPD Total Projected Revenues-FY96-97 $8,970,548 $2,285,094 $6,336,650 $105,600 $967,000 $18.664,792 Less: Projected Expenditures $10,576.227 $1,683,946 $6,532,118 $122,000 $400,799 $19,315,090 Total-Expenditures-FY96-97 $10,576,227 $1,683,946 $6,532,118 $122,000 $400,799 $19,315,090 C.O. Proceeds 920,000 0 0 0 0 920,000 Net Transfers In (Out) 633,000 (527,898) 65.170 (56,875) 0 113,,E Net Revenues ($52.679) $Z3-25,0 ($130298) ($73-375) $566,201 $383.099 Estimated Fund Balance/ Working Capital 9/30/96 $1,669,416 $472.913 $1.233,780 $76,762 $996,488 $4,449.359 Estimated Fund Balance/ Working Capital 9/30/97 $1,616.737 $546,163 $1,103,482 $3,387 $1,562,689 $4,832,458 1995-96 1995-96 1996-97 $ Increase/ Expenditures 1994-95 Actual Adopted Budget Revised Budget Proposed Budget (Decrease) Adopted % Increase/ General Eund -Decrease Personnel $3,960,852 $4,853,826 $4,926,733 $6,075,068 $1,221,242 25.2% Operations 2,171,523 2,435,242 2,844,677 3,360.706 925,464 38.0% Capital Outlay 908,274 580.53 776.768 1,140.453 559,923 96.5% Total Expenditures $7,040,649 $7,869.598 $8,548,178 $10,576,227 $2,706,629 34.4% Debt Service Fund Debt Service $1,228,385 $1,464,333 $1476296 $1,683,946 $219,613 15.0% Total Expenditures $1,228,385 $1,464,333 $1,476,296 $1.683,946 $219,613 15.0% Personnel $454,653 $603,708 $627,708 $590,250 ($13,458) -2.2% Operations 3,488,334 4,013,522 4,882,296 _ 3,842,100 (171,422) -4.3% Capital Outlay 526,002 587,080 495,444 651,720 64,640 11.0% Debt Service 193,278 197,762 771,137 1,448,048 1,250,286 632.2% Total Expenses $4,662,267 $5,402,072 $6,776,585 $6,532,118 $1,130,046 20.9% Special Revenue-Parks/Recreation Operations $75,440 $30,000 $45,299 $0 ($30,000) -100.0% Capital Outlay 105,739 108.000 163,600 122,000 14,000 13.0% Total Expenditures $181,179 $138,000 $208.899 $122,000 ($16,000) -11.6% SPA Personnel $49,971 $47,680 $50,190 $50,229 $2,549 5.3% Operations 4,800 4,800 4,800 4,800 0 100.0% Capital Outlay 0 0 0 0 0 0.0% Debt Service 259,716 364.20 364,200 345,770 (18,430) -5.1 % TOTAL EXPENDITURES $314.487 $416,680 $419,190 $400.799 ($15,881) -3.8% TOTAL EXPENDITURES $13,426,967 $15.290.683 $17.429.148 $19,315,090 $4,024,407 26.3% PROPOSED BUDGET 1996-97 ALL FUNDS SUMMARY EXPENDITURES BY FUND/CATEGORY 1995-96 1995-96 1996-97 $ Increase/ % Increase/ 1994-95 Adopted Revised Adopted (Decrease) -Decrease FUND AEI Budget Budget Budget Added Adopted General Fund Personnel 3,960,852 4,853,826 4,926,733 6,075,068 1,221,242 25.2% Operations 2,171.523 2,435,242 2,844,677 3,360,706 925,464 38.0% Capital Outlay 908,274 580.530 776,768 1,140,453 559,923 96.5% Total 7,040,649 7,869,598 8,548,178 10,576,227 2,706,629 34.4% Debt Service Fund Debt Service 1,228,385 1,464,333 1,476,296 1,683,946 219,613 15.0% Total 1,228,385 1,464,333 1,476.296 1,683,946 219,613 15.0% Utilily Fund Personnel 454,653 603,708 627,708 590,250 (13,458) -2.2% Operations 3,488,334 4,013,522 4,882,296 3,842,100 (171,422) -4.3% Capital Outlay 526,002 587,080 495,444 651,720 64,640 11.0% Debt Service 193,278 197,762 771,137 1,448,048 1,250,286 632,2% Total 4,662,267 5,402,072 6,776,585 6,532,118 1,130,046 20.9% Special Revenue- perations 75,440 30,000 45,299 0 (30,000) -100.0% apital Outlay 105,739 108.000 163,600 122,000 14.000 13.0% tal 181,179 138,000 208,899 122,000 (16,000) -11.6% Pend rsonnel 49,971 47,680 50,190 50,229 2,549 5.3% perations 4,800 4,800 4,800 4,800 0 100.0% apital Outlay 0 0 0 0 0 0.0% ebt Service 259,716 364,200 364,200 345,770 (18,430) -5.1 % tal 314,487 416,680 419,190 400,799 (15,881) -3.8% RAND TOTAL ALL FUNDS 13,426,967 15,290,683 17,429.148 19,315,090 4,024,407 26.3% PENDITURE CATEGORY ersonnel 4,465,476 5,505,214 5,604,631 6,715,547 1,210,333 22.0% perations 5,740,097 6,483,564 7,777,072 7,207,606 724,042 11.2% apital Outlay 1,540,015 1,275,610 1,435,812 1,914,173 638,563 50.1% ebt Service 1,681,379 2,026 295 2,611 633 3,477 764 1.451 469 71.6% RAND TOTAL ALL FUNDS 13,426,967 15,290.683 17,429,148 19,315,090 4,024,407 26.3% C To Pe O C D To G EX P O C D G L REVENUES Sales Tax Interest Total Revenues Personnel Operations Capital Total Expenditures 1:.Mr_"_ Transfers Out Proceeds from C.O. Sale Total Other Sources (Uses) Bepiminq Fund Balance EndhV Fund Balance SPDC - OPERATING FUND Parks/Recreation 1996-97 Proposed Budget and 1995-96 Revised Budget 10:46 AM 1994-95 Actual 1995-96 Adopted 1996-96 Revised $ Increase/ (Decrease) Adopted % Increase/ -Decrease 1996-97 <; Proposed < M/a1R1p1.wR� $ Increase/ (Decrease) Adopted Valam % Increase/ -Decrease $516,750 $670,500 $761,065 $90,565 13.5% $923,000 $252,500 37.7% 17.726 21,000 21.000 4 0.0% 22M lim 4.8% $534,476 $691,500 $782,065 $90,565 13.1% $945,000 $252,500 36.5% $49.971 $47,680 $50,190 $2,510 5.3% $50,229 $2,549 5.3% 4,800 4,800 4,800 0 0.0% 4,8W 0 0.0% 4 Il 4 0.0% Q Q 0.0% $54,771 $52,480 ;54,g90 $2,510 4.8% $5&029 $2,549 4.9% $479,705 $639,020 $727,075 $88,055 $889,971 $250,951 (251,310 (363,200 (405,200 (344,77( (251,310 (363,200 (405,200 (344,770 $165,451 S393,8.46 $393,846 ,1669-666 $393,846 715.721 $715,721 Si 760 Q7? 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W W F- O Q I j Ur � COLn Cl O v � CD N co Il- 000 tU 0 co N co CG: O 00 v O CO �t co Iq LO O N co M CO CD d U- Q UCD Q CO O M N qq CD N co CA co CD O 0) e»: 1�- Q>:: C3? O O co O O CO:, ti I-- O Mii LO N a0 C O M H U~ J ~ to C W N :3 pt w L N c p :. m C CLN O to C) Y 00 O 0 2 — Q U N E d N C C o Qp = 0 CO C4 N O Q O C O y WT CL © O p rn v 3 ' c Q r- O is 2 IL Q H ~ Wa W O0 CD O 00 0o O CD� I m p 0 V r- � N .4 O O co L6 REVENUES Interest Income Total Revenues EXPENDITURES Principal Interest Admin. Expenses Total Expenditures Net Revenues Proceeds from bond sale Transfers In Total Odw Sources(Uses) Beginning Fund Balance Endng Fund Balance SPDC - DEBT SERVICE FUND Parks/Recreation 1996-97 Proposed Budget and 1995-96 Revised Budget 1046AM 97adnd4.wk4 08/15M 1994-95 $16,020 $50.000 209,206 M $259,716 $0 3251.310 $251,310 $256,153 S263-767 1995-96 Adopted 1996-96 Rev[8ed $ Increase/ (Decrease) Adopted % Increase/ -Decrease 1996-97 I.: , Proposed . $Increase/ (Decrease) Adopted % Increase/ -Decrease $1$.00Q S18.000 IQ 0.0% $22M UMO 22.2% $18,000 $18,000 $0 0.W/o $22,000 $4,000 22.2% $95.000 $95,000 $0 0.0% $110,000 $15,000 15.8% 268,200 268,200 0 0.0% 234,770 (33,430 -12.5% 1,000 _ a.00St 0 0.0°� 0 0.0% $364,200 >)i364,200 $0 0.0°Aa $345,771 ($18,430 -5.1% $0 _:$0 S361200 > '8363,200 $363,200 $363.200 $263,767 $263,767 e9IIn 7R7 tJOA.7127 (W W W Y O H W W Y= g W 2 of D W O CD ti rn 0) 0) r Q� W J U U) LL FWC 0) co O W Z LL LL C: LL cr z O Q o U LO F- D U � C _N (0 m rn c� `0 0 0 0 0 0 IT p w O r O o O 0 r-- o O O fl- O o o ti o O r- r- CD co Cn w v) r O ti O r` o ti O r- ti 0 0a a. 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W W � O O O O CD CD m O N co M co O r` � O (D (D (D t CITY OF SOUTHLAKE CAPITAL PROJECTS 1996-97 PROPOSED BUDGET 97bond2.wk4 11:20 AM r 08/16/96 FY95-96 FY94-95 Adopted FY95-96 FY96-97 ALL FUNDS Actual Budget Revised Proposed Revenue Interest Income 579,264 340,500 399,000 242,500 Fees 1,029,155 1,365,000 1,638,056 1,720,000 Assessment Income 11,239 70,000 20,000 65,000 Developer Participation 36,649 0 85,000 0 Carroll ISD Participation 25,105 30,000 0 0 City of Keller Participation Q Q Q Q Total Revenue 1,681,412 1,805,500 2,142,056 2,027,500 Expenditures 1993 Water Bond Projects ($1.3 million) 157,091 0 0 0 Water Impact Fee Fund 256,199 279,800 496,079 500,000' Sewer Impact Fee Fund 692,231 400,000 916,833 1,085,482 Waterworks Improvements Fund 0 957,047 1,523,185 757,500 1995 Water Bond Projects ($2.5 million) 93,860 1,725,000 1,166,249 2,481,000 1997 Water/Sewer Bond Projects 0 0 0 5,040,000 L3ewer Assessment Fund 198,896 764 840 1,035,740 1,670,000 Subtotal-Water/Sewer Projects 1,398,277 4,126,687 5,138,086 11 533,982 Streets/Drainage Projects 1993 Street Bond Projects ($1.5 million) 509,580 0 28,147 0 1994 Street Bond Projects ($3 million) 336,709 1,853,357 703,823 1,154,910 Perimeter Road Fee Fund 70,393 0 0 0 Infrastructure Reserve Fund 1,780,259 1,967,850 2,227,059 575,000 1997 Infrastructure Reserve Fund 0 0 0 3,551,618 Street Impact Fee Fund 0 0 0 0 Drainage-Offsite Fund Q Q Q Q Subtotal-Streets/Drainage Projects 2,696,941 1821.207 2,959,029 5,281,528 Parks Projects SPDC Revenue Bond Projects 2,459,011 141,207 320,435 Q Total Expenditures 6.554229 8,089,101 8,417,550 16,815,510 Net Revenue (4,872,817) (6,283,601) (6,275,494) (14,788,010) Bond Proceeds 5,693,820 1,843,000 2,797,380 11,522,000 Transfers in 958,436 1,081,840 2,105,393 0 Transfer out (410,130) (241,469) (909,351) (113,397) Total Other Sources (Uses) 6,242,126 2,683,371 3,993,422 11,408,603 Beginning Fund Balance 7,727,258 9,096,567 9,096,567 6,814,495 Ending Fund Balance 1 CITY OF SOUTHLAKE CAPITAL PROJECTS 1996-97 PROPOSED BUDGET a FY95-96 FY94-95 Adopted Actual Budget FUND 302-S Revenue/Other Interest income 97bond2.wk4 11:20 AM 08/16/96 FY95-96 FY96-97 Revised Proposed Total Revenue/Other Sources 114,810 30,000 25,000 1:0-Mr-minm_ Joint Use Improvements -Gymnasium 719,730 44,207 50,000 Bicentennial Park -Phase 1 1,739,281 97,000 270,435 Land Acquisition Q Q Q Total Expenditures 2,459.011 141,207 320,435 Net Revenue (2,344,201) (111,207) (295,435) Bond Proceeds 976,320 0 0 Transfers In 0 0 42,000 Transfers Out (down payment-W. Beach) (295,375) Q Q Total Other Sources (Uses) 680,945 0 42,000 Beginning Fund Balance 2,374,309 711,053 711,053 Ending Fund Balance 711,053 599,846 457.618 Proceeds from the sales tax revenue bonds are used to construct SPDC and Council approved park projects. M, I no 10,000 0 0 Q 0 457,618 467,618 18 - CITY OF SOUTHLAKE CAPITAL PROJECTS 1996-97 PROPOSED BUDGET 97bond2.wk4 11:04 AM 08/15/96 FY95-96 FY94-95 Adopted Actual Budget FY95-96 FY96-97 Bid Proposed FUND 302-SI Revenue/Other Interest income Total Revenue/Other Sources 114,810 30,000 25,000 10,000 Expenditures Joint Use Improvements -Gymnasium 719.730 44,207 50,000 0 Bicentennial Park -Phase 1 1,739,281 97,000 270,435 0 Land Acquisition Q Q Q Q Total Expenditures 2,459,011 141,207 320,435 0 Net Revenue (2,344,201) (111,207) (295,435) 10,000 Bond Proceeds 976,320 0 0 0 Transfers In 0 0 42,000 0 Transfers Out (down payment-W. Beach) (95,375) Q Q Q Total Other Sources (Uses) 680,945 0 42,000 0 Beginning Fund Balance 2,374,309 711,053 711,053 457,618 Ending Fund Balance 711,053 599,846 457.618 467,618 Proceeds from the sales tax revenue bonds are used to construct SPDC and Council approved park projects. IN 18