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HomeMy WebLinkAboutOrdinance 6277F FAYCTr 9RKA NSP 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Ordinance: 6277 File Number: 2019-0954 AMEND §34.08 PARKING REVENUE FUND: AN ORDINANCE TO AMEND §34.08 PARKING REVENUE FUND TO CREATE A NEW RESIDENTIAL DISTRICT PARKING FUND, TO APPROVE A LOAN IN THE AMOUNT OF $20,000.00 FROM THE GENERAL FUND TO THE NEW RESIDENTIAL DISTRICT PARKING FUND, AND TO APPROVE A BUDGET ADJUSTMENT WHEREAS, in 2011, the City Council approved Ordinance 5455 establishing the City's Parking Revenue Fund into which all parking revenues must be paid; and WHEREAS, on October 19, 2019, the City Council approved Ordinance 6259 which established the Wilson Park South Neighborhood Permit Parking district; and WHEREAS, the City's Chief Financial Officer recommends establishing a separate Residential District Parking Fund which will ensure that the funds collected within the neighborhood parking district are used for the benefit of that district and are not commingled with general parking revenue that can be used for other purposes; and WHEREAS, because the Residential District Parking Fund has no current assets, staff requests that the City Council approve a $20,000.00 loan from the General Fund to the new fund that will be repaid when sufficient operational reserves are generated by the new fund. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby amends the title of § Page 1 Printed on 1/22/20 File Number 2019-0954 Ordinance 6277 34.08 from "Parking Revenue Fund" to "Parking Revenue Fund and Residential District Parking Fund." Section 2: That the City Council of the City of Fayetteville, Arkansas hereby repeals subsection 34.08(A) and enacts a replacement § 34.08(A) as follows: "(A) There is hereby created a Parking Revenue Fund into which all non -Residential District parking receipts collected by the city shall be deposited. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations, parking lease revenue, and fines levied for violation of such parking regulations. Section 3: That the City Council of the City of Fayetteville, Arkansas hereby amends § 34.08 by enacting new subsections (C) and (D) as follows: "(C) There is hereby created a Residential District Parking Fund into which all residential parking district parking receipts collected by the city shall be deposited. Sub -funds shall be established for each residential parking district. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations and fines levied for violation of such parking regulations. (D) Expenditures of revenues from the Residential District Parking Fund shall be restricted to: (1) Operation, maintenance, and improvement of existing parking facilities within the residential parking district; and (2) Acquisition, expansion, replacement, and improvement of parking facility equipment, including vehicles if necessary, used for the residential parking district." Section 4: That the City Council of the City of Fayetteville, Arkansas hereby authorizes a loan in the amount of $20,000.00 from the General Fund to the Residential District Parking Fund to be repaid when sufficient operational reserves are generated by the new fund as determined by the City's Chief Financial Officer. Section 5: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached to the Chief Financial Officer's agenda memo. PASSED and APPROVED on 1/21/2020 Page 2 Printed on 1122120 File Number.' 2019-0954 Ordinance 6277 Attest: ```���nnr►rrr��� `♦♦�� G`ER K �.• CITYO'�9��: Kara Paxton, City Clerk Treas FAYFTjFV ,50 _ �L �0N��� Page 3 Printed on 1122120 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Text File File Number: 2019-0954 Agenda Date: 1/21/2020 Version: 1 Status: Passed In Control: City Council Meeting r File Type: Ordinance Agenda Number: C. 4 AMEND §34.08 PARKING REVENUE FUND: AN ORDINANCE TO AMEND §34.08 PARKING REVENUE FUND TO CREATE A NEW RESIDENTIAL DISTRICT PARKING FUND, TO APPROVE A LOAN IN THE AMOUNT OF $20,000.00 FROM THE GENERAL FUND TO THE NEW RESIDENTIAL DISTRICT PARKING FUND, AND TO APPROVE A BUDGET ADJUSTMENT WHEREAS, in 2011, the City Council approved Ordinance 5455 establishing the City's Parking Revenue Fund into which all parking revenues must be paid; and WHEREAS, on October 19, 2019, the City Council approved Ordinance 6259 which established the Wilson Park South Neighborhood Permit Parking district; and WHEREAS, the City's Chief Financial Officer recommends establishing a separate Residential District Parking Fund which will ensure that the funds collected within the neighborhood parking district are used for the benefit of that district and are not commingled with general parking revenue that can be used for other purposes; and WHEREAS, because the Residential District Parking Fund has no current assets, staff requests that the City Council approve a $20,000.00 loan from the General Fund to the new fund that will be repaid when sufficient operational reserves are generated by the new fund. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby amends the title of § 34.08 from "Parking Revenue Fund" to "Parking Revenue Fund and Residential District Parking Fund." Section 2: That the City Council of the City of Fayetteville, Arkansas hereby repeals subsection 34.08(A) and enacts a replacement § 34.08(A) as follows: "(A) There is hereby created a Parking Revenue Fund into which all non -Residential District parking receipts collected by the city shall be deposited. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations, parking lease revenue, and fines levied for violation of such parking City of Fayetteville, Arkansas Page 1 Printed on 1/22/2020 File Number.' 2019-0954 regulations. Section 3: That the City Council of the City of Fayetteville, Arkansas hereby amends § 34.08 by enacting new subsections (C) and (D) as follows: "(C) There is hereby created a Residential District Parking Fund into which all residential parking district parking receipts collected by the city shall be deposited. Sub -funds shall be established for each residential parking district. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations and fines levied for violation of such parking regulations. (D) Expenditures of revenues from the Residential District Parking Fund shall be restricted to: (1) Operation, maintenance, and improvement of existing parking facilities within the residential parking district; and (2) Acquisition, expansion, replacement, and improvement of parking facility equipment, including vehicles if necessary, used for the residential parking district." Section 4: That the City Council of the City of Fayetteville, Arkansas hereby authorizes a loan in the amount of $20,000.00 from the General Fund to the Residential District Parking Fund to be repaid when sufficient operational reserves are generated by the new fund as determined by the City's Chief Financial Officer. Section 5: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached to the Chief Financial Officer's agenda memo. City of Fayetteville, Arkansas Page 2 Printed on 112212020 City of Fayetteville Staff Review Form 2019-0954 Legistar File ID 1/21/2020 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item Paul Becker 12/30/2019 CHIEF FINANCIAL OFFICER (110) Submitted By Submitted Date Division / Department Action Recommendation: Staff recommends the creation of a Residential District Parking Fund and the approval of a budget adjustment to establish the operating budget for 2020. Since this is a new fund with no current assets it is requested that City Council approve a $20,000 loan from the General Fund to be repaid when sufficient operational reserves are generated by the fund for cash flow purposes as determined by the Chief Financial Officer of the City. 2134.430.9134-5xxx.xx Budget Impact: Residential District Parking Fund Account Number Fund N/A N/A Project Number Budgeted Item? No Does item have a cost? No Budget Adjustment Attached? Yes Purchase Order Number: Change Order Number: Original Contract Number: Comments: Current Budget Funds Obligated Current Balance Item Cost Budget Adjustment Remaining Budget Project Title $ 20,494.00 $ 20,494.00 Previous Ordinance or Resolution # Approval Date: V20180321 CITY OF FAYETTEVILLE ARKANSAS MEETING OF JANUARY 21,2020 TO: Mayor and City Council FROM: Paul A. Becker, Chief Financial Officer DATE: December 30, 2019 CITY COUNCIL MEMO SUBJECT: Request for the creation of a Residential District Parking Fund and approval of a 2020 budget for the Wilson Park South Neighborhood Permit Parking District by approving the attached budget amendment and approval of a general fund loan in the amount of $20,000 RECOMMENDATION: Staff recommends the creation of a Residential District Parking Fund and the approval of an operating budget for 2020. Since this is a new fund with no current assets it is requested that City Council approve a $20,000 loan from the General Fund to be repaid when sufficient operational reserves are generated by the fund for cash flow purposes as determined by the Chief Financial Officer of the City. DISCUSSION: On November 19th City Council approved Ordinance 6259 which established the Wilson Park South Neighborhood Permit Parking District. To implement that residential parking program, it is necessary to approve an expense budget for 2020 to provide for operational expenses incurred by the program. These expenses are to be paid from parking revenues earned in the newly established district. Since this newly established fund to account for the program has no operating cash, it is requested that $20,000 be loaned to the fund which is to be reimbursed by the fund when sufficient reserves are generated. This loan reimbursement will occur when the Chief Financial Officer of the City has determined that reserves have been accumulated in an amount to ensure cash flow requirements for the fund have been met. Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 BUDGET/STAFF IMPACT: This request would increase the overall budget for 2020 by $20,494 to be offset by parking revenue generated in the district. A budget amendment is attached which details the estimated expenditures for 2020. City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar) Budget Year Division Adjustment Number /Org2 PARKING MANAGEMENT (430) 2020 (BY) Requestor: Holly Black BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION: Create budget for new Neighborhood Parking District fund - Wilson Park South program. Meter revenue based on 60% utilization with average daily rate of $1.28 for 75% of year. Parking Fines assumes 15% of meter revenue. Office Supplies equate to 180 hang tags at $1.27 and 340 stickers at $1.23. Signs equal 20 pay -by -phone at $32, 20 residential at $32, 20 rate at $16. Labor and Contract Services are based on pro rata space allocation. Bank Charges are estimated at 9% of revenue. RESOLUTION/ORDINANCE COUNCIL DATE: 1/7/2020 LEGISTAR FILE ID#: 2019-0954 YoUy 3Lack 12/30/2019 8:24 AM Budget Director Date TYPE: D - (City Council) JOURNAL #: GLDATE: CHKD/POSTED: TOTAL Account Number 20,494 20,494 Increase / (Decrease) Expense Revenue Proiect.Sub# Project Sub.Detl AT v.20191113 Account Name 2134.430.9134-4410.00 - 17,821 RE Parking Meter Revenue - Base 2134.430.9134-4500.00 2134.430.9134-5120.00 - 9,279 2,673 - RE EX Parking fines - Base Personnel Other - Contra 2134.430.9134-5200.00 2134.430.9134-5212.00 647 1,600 - - EX EX Supplies - Office/Printing Signs 2134.430.9134-5315.00 2134.430.9134-5320.02 7,164 1,804 - - EX EX Contract Services Bank Charges - Credit Card H:\Budget Adjustments\2020_Budget\City Council\01-07-2020\BA20 - 2019-0954 Residential District Parking Fund budget 1 of 1 NORTHWEST ARKANSAS RECEIVED Democrat 79 Oazette FEB 13 2020 CITY (dF FAYETTEIM' ,'l i'Y CL.L.RK s GF i AFFIDAVIT OF PUBLICATION I, Cathy Staggs, do solemnly swear that I am the Accounting Manager for the Northwest Arkansas Democrat- Gazette, printed and published in Washington and Benton County, Arkansas, and of bona fide circulation, that from my own personal knowledge and reference to the files of said publication, the advertisement of: CITY OF FAYETTEVILLE Ord 6277 Was inserted in the Regular Edition on: January 30, 2020 Publication Charges $ 213.20 Cam 0 Ca by St s Subscribed and sworn to before me This 4 day ofpe_,6 , 2020. 04�t� Notary Public My Commission Expires: "z12..J?.fl ZtL CATHY IN"L 5 A&ansas - acnton Coun!; ,'otary Public - Comm;; 12097118 ,..y Commission Expires Feb 20, 2024 **NOTE** Please do not pay from Affidavit Invoice will be sent. Ordinance: 6277 File Number: 2019-0954 AMEND §34.08 PARKING REVENUE FUND: AN ORDINANCE TO AMEND §34.08 PARKING REVENUE FUND TO CREATE A NEW RESIDENTIAL DISTRICT PARKING FUND, TO APPROVE A LOAN IN THE AMOUNT OF $20,000.00 FROM THE GENERAL FUND TO THE NEW (RESIDENTIAL DISTRICT PARKING FUND, AND TO APPROVE A BUDGET WHEREAS, in 2011, the City Council approved Ordinance 5455 establishing the City's Parking Revenue Fund into which all parking revenues must be paid; and WHEREAS, on October 19, 2019, the City Council approved Ordinance 6259 which established the Wilson Park South Neighborhood Permit Parking district; and WHEREAS, the City's Chief Financial Officer recommends establishing a separate Residential District Parking Fund which will ensure that the funds collected within the neighborhood parking district are used for the benefit of that district and are not commingled with general parking revenue that can be used for other purposes; and WHEREAS, because the Residential District Parking Fund has no current assets, staff requests that the City Council approve a $20,000.00 loan from the General Fund to the new fund that will be repaid when sufficient operational reserves are generated by the new fund. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby amends the title of § 34.08 from "Parking Revenue Fund" to "Parking Revenue Fund and Residential District Parking Fund." Section 2: That the City Council of the City of Fayetteville, Arkansas hereby repeals subsection 34.08(A) and enacts a replacement § 34.08(A) as follows: "(A) There is hereby created a Parking Revenue Fund into which all non -Residential District parking receipts collected by thecity shall be deposited. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations, parking lease revenue, and fines levied for violation of such parking regulations. Section 3: That the City Council of the City of Fayetteville, Arkansas hereby amends § 34.08 by enacting new subsections (C) and (D) as follows: "(C) There is hereby created a Residential District Parking Fund into which all residential parking district parking receipts collected by the city shall be deposited. Sub -funds shall be established for each residential parking district. Parking receipts shall include both voluntary amounts paid in compliance with parking regulations and fines levied for violation of such parking regulations. (D) Expenditures of revenues from the Residential District Parking Fund shall be restricted to: (1) Operation, maintenance, and improvement of existing parking facilities within the residential parking district; and (2) Acquisition, expansion, replacement, and improvement of parking facility equipment, including vehicles if necessary, used for the residential parking district." Section 4: That the City Council of the City of Fayetteville, Arkansas hereby authorizes a loan in the amount of $20,000.00 from the General Fund to the Residential District Parking Fund to be repaid when sufficient operational reserves are generated by the new fund as determined by the City's Chief Financial Officer. Section 5: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment, a copy of which is attached to the Chief Financial Officer's agenda PASSED and APPROVED on 1/21/2020 Approved: Lioneld Jordan, Mayor Attest: Kara Paxton, City Clerk Treasurer 75222495 Jan 30, 2020