FY2020 Budget

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 1,824,900

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

Total

$1,824,900

PARKLAND PAYMENT IN LIEU RESERVE

2017 Actual

2018 Actual

2019 Estimated 2020 Proposed

Beginning Balance Interest Earnings

$ $ $ $ $

2,295,455

$ $ $ $ $

2,419,600

$ $ $ $ $

3,255,085

$ $ $ $ $

4,140,089

9,563

23,748

30,000

-

Parkland Payment in Lieu Revenue Transfer out to Capital Project(s)

412,778 (298,196) 2,419,600

1,051,737 (240,000) 3,255,085

1,420,004

80,000

(565,000.00)

(1,824,900) 2,395,189

Ending Fund Balance

4,140,089

Year Over Year % Change Total Year Over Year $s Change Total

34.5%

27.2%

$

2,419,600

$

835,485

$

885,004

4 Town Council reduced the FY2020 appropriation for the Crabtree Creek Nature Park design cost. Information above has been adjusted accordingly.

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