CHPID#1 Board of Directors approves budget

At its regularly scheduled meeting on Thursday, July 10, 2008, CHPID#1’s Board of Directors voted to approve the following:

• one-year operating budget for October 2008 – September 2009.
• five-year funding requirements plan for years 2008 – 2013.
• assessment rate of $0.10 per $100.00 of assessed property value for tax year October 2008 – September 2009.

The meeting to receive public input and comment was held on June 12, 2008.

 

Copies of meeting agenda, one-year operating budget, five year funding requirements plan and income determination based on $0.10 per $100.00 of assessed property value can be found here http://highpointeinfo.homestead.com/CHPID_2008-2009_Budget_Worksheet.xls

http://highpointeinfo.homestead.com/CHPID_1_Five_Year_Plan__2008_2013_.xls

 

Revenues:

 

CHPID#1’s Board of Directors approved one-year operating budget of $379,110 represents a decrease of approximately 4 percent (%) over the current year’s operating budget of $394,725.  This decrease is mainly explained in the projected decrease in interest income, along with a slight projected decrease in PID assessments. The Board based these revenue totals on the realized values for the 2007-2008 year, The proposed assessment rate remains at $0.10 per $100.00 of assessed property value which is unchanged from October 1998’s initial assessment rate. As with previous budget submissions, CHPID#1 assumes City’s contribution remains unchanged from last increase in budget year 2000-2001.  The Reserve fund is carried over from the current budget year.  NOTE:  the Reserve fund may “grow” depending on continuing declines in water usage due to extensive Spring rains.  Foreclosures are a concern and remain a “huge unknown” even though they will be eventually be collected.  Foreclosures and other delinquent payments impact on CHPID’s “cash flow” during the budget year.

 

Expenses:

 

    Administration/Operation. 

1. Code Enforcement Services – unchanged.
2. Police Patrol Services – unchanged.
3. Water and electricity – increased based on past and projected usage as well as new areas serviced.

    Maintenance/Landscaping.

1. Base Maintenance Contract decreased from the 2007-2008 budget. This reflects the removal of fees for tree pruning. The contract covers services previously funded separately – seasonal flower plantings and tree maintenance, and additional areas serviced in The Reserve, Phase III, and the Joint Venture site – Flameleaf storage tank.
2. Holiday Lighting – increased for additional lighting and at new locations.

    Capital Improvements.

1. The Securit Camera program will go live in July 2008. The Board has earmarked funds to expand this security measure in the upcoming fiscal year.
2. High Pointe Fence Enhancement – Improving the drive up appeal of High Pointe’s major streets has been a point of empahsis of CHPID#1 since inception. Capital Improvement funds will be distributed to complete fencing on High Pointe Lane and Strauss Road.
3. Landscape Enhancement – Additional trees and flower beds are targeted.
4. Hardscape Enhancement – Decorative stop signs, benches and pads are planned for various sections of High Pointe. The Board looks to replicate the “Old Town” feel, seen in downtown Cedar Hill.

Reserves:

 

CHPID#1 expects to maintain and carry over reserve funds of $91,595 from 2007-2008