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Parkland Payment in Lieu Reserve
MISSION
The purpose of the Parkland Payment in Lieu Fund, to accumulate and track funds received annually from
a development for the acquisition or development of recreation, park, or open space sites. The funds may
be utilized for new facilities and improvements that may include preliminary design, construction or other
related capital expense that qualify as a reasonable use for the restricted source.
SERVICE TO COMMUNITY
Leverage our resources by re-investing in the community.
BUDGET NOTES
New Initiatives & Priorities
Cost Value
Parks and Greenway Improvements Capital Project Fund (design Crabtree Nature Park
and Morrisville Community Park Phase III, park amenities, enhancements, ADA
improvements and connection of Indian Creek Greenway to Town Hall Terraces.
4
1,824,900
Total
$1,824,900
4
Town Council reduced the FY2020 appropriation for the Crabtree Creek Nature Park design cost.
Information above has been adjusted accordingly.
PARKLAND PAYMENT IN LIEU RESERVE
2017 Actual
2018 Actual
2019 Estimated 2020 Proposed
Beginning Balance
2,295,455
$
2,419,600
$
3,255,085
$
4,140,089
$
Interest Earnings
9,563
$
23,748
$
30,000
$
-
$
Parkland Payment in Lieu Revenue
412,778
$
1,051,737
$
1,420,004
$
80,000
$
Transfer out to Capital Project(s)
(298,196)
$
(240,000)
$
(565,000.00)
$
(1,824,900)
$
Ending Fund Balance
2,419,600
$
3,255,085
$
4,140,089
$
2,395,189
$
Year Over Year % Change Total
34.5%
27.2%
Year Over Year $s Change Total
2,419,600
$
835,485
$
885,004
$