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HomeMy WebLinkAbout05-14-01 TC packet materialTo: From: Subject Date: ITEM Honorable Mayor and Members of the Board of Aldermen Trent Petty, Town Manager Regular Meeting of May 14, 2001 May 9, 2001 Consider amending the current Trophy Club Westlake, Department of Public Safety allocation budgeted for FY 2000-2001 from $369,156 to $408,758 or an increase of $39,602 or 10.7% While staff recommends approval, it is clear that as Westlake property valuations continue to grow compared to call load that Westlake will need to begin investigating additional contract amendments to keep the DPS allocations fair and accurate. Trophy Club is amenable to this discussion, which will take place following the legislative session. .. . The contract between the Town of Westlake and the Trophy Club — Westlake DPS requires that actual assessed values be used to determine the proportionate share or spending the City of Trophy Club, The Town of Westlake and the Trophy Club MUDS allocate each year for DPS expenditures. The revised assessed value revealed that Trophy Club MUD 1 anticipated valuations were $10,313,316 too high. The resulting reallocation of expenses to the other entities based on their valuations forced the revision per contract requirements. FWNTENTM The additional $39,602 will be allocated from Fund Balance.