A. Regular Meeting
Subject
1. Call to Order: The Municipal Development District Board of the City of Sachse will hold a Regular Meeting on Thursday, August 10, 2023, at 7:00 p.m. to consider the following items of business:
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Procedural
File Attachments
A. Regular Meeting
Subject
2. Invocation and Pledge of Allegiance to the U.S. and Texas Flags.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Procedural
File Attachments
A. Regular Meeting
Subject
3. The public is invited to address the Board regarding any topic not already on the agenda. The time limit is 3 minutes per speaker. A Public Comment Card should be presented to the acting Secretary prior to the meeting. According to the Texas Open Meetings Act, the Board is prohibited from discussing any item not posted on the agenda but will take comments under advisement.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Information, Procedural

Those who wish to speak may fill out a form or email the City Secretary prior to the meeting.

File Attachments
A. Regular Meeting
Subject
4. Consider approval of the April 13, 2023, meeting minutes.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Action, Minutes
Recommended Action
Approve as presented.
Minutes
View Minutes for Apr 13, 2023 - Municipal Development District Board Meeting
File Attachments
04.13.23 MDD Board Minutes.pdf (71 KB)
Motion & Voting
Approve as presented.

Motion by Pat Porter, second by Valarie Pike.
Final Resolution: Motion Carries
Yes: Jermaine McDaniel, Valarie Pike, Pat Porter, Richard Fricks
A. Regular Meeting
Subject
5. Accept the Quarterly Investment Report for the quarter ending March 31, 2023.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Action (Consent)
Recommended Action
Accept the Quarterly Investment Report for the quarter ending March 31, 2023.

BACKGROUND

The Finance Department provides a Quarterly Investment Report to provide an overview of investment activity details for Checking, Money Market, Investment Pool, and Certificate of Deposit accounts. This same Quarterly Investment Report was accepted by City Council on June 5, 2023.

 

POLICY CONSIDERATIONS

Texas Government Code 2256.023 of the Public Funds Investment Act (PFIA) requires not less than quarterly, the investment officer prepare and submit a written report of investment transactions for all funds covered by the Investment Policy and that the report shall be presented not less than quarterly to each entity's governing body within a reasonable time after the end of the period.

 

The City's Investment Policy is to invest public funds in a manner which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of Sachse and conforming to the PFIA and all other State and local statutes governing the investment of public funds.

 

RECOMMENDATION

Accept the Quarterly Investment Report for the quarter ending March 31, 2023.

File Attachments
Quarterly Budget Report FY 2023 Q2 2023.03.31.pdf (1,091 KB)
Motion & Voting
Accept the Quarterly Investment Report for the quarter ending March 31, 2023.

Motion by Valarie Pike, second by Pat Porter.
Final Resolution: Motion Carries
Yes: Jermaine McDaniel, Valarie Pike, Pat Porter, Richard Fricks
A. Regular Meeting
Subject
6. Discuss and make a recommendation to the City Council on park project funding and the corresponding budget for the Municipal Development District to fund for the 2023-2024 fiscal year budget.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Action, Discussion
Recommended Action
Consider making a recommendation to City Council that Fiscal Year 2022-2023 and 2023-2024 available funding be appropriated to J.K. Sachse Park and maintenance and repair of parks around the City.
Goals
Be a model of financial stewardship through growth management, responsible investment, and financial transparency.

OVERVIEW

The City Council will adopt the Fiscal Year 2023-2024 budget as soon as September 18, 2023. Expenditures recommended by the Municipal Development District (MDD) Board will be included in the City Manager's proposed budget for authorization by City Council. Authorization for Capital Project expenditures will be in place until the project is complete even if the project extends beyond the end of the fiscal year.

 

POLICY CONSIDERATIONS

The MDD Board is authorized to review requests for expenditures using the 1/4 cent sales tax collected for the District. Funds available for the Fiscal Year 2023-2024 include the fund balance brought forward from Fiscal Year 2022-2023 as well as the budgeted revenues for the Fiscal Year 2023-2024.

 

RECOMMENDATION

Recommend to City Council that Fiscal Year 2022-2023 and 2023-2024 available funding be appropriated to J.K. Sachse Park and maintenance and repair of parks around the city.

File Attachments
MDD FY 23-24 Budget Worksheet.pdf (128 KB)
MDD FY 23-24 Budget Worksheet - Fund Balance.pdf (133 KB)
Motion & Voting
Consider making a recommendation to City Council that Fiscal Year 2022-2023 and 2023-2024 available funding be appropriated to J.K. Sachse Park and maintenance and repair of parks around the City.

Motion by Richard Fricks, second by Pat Porter.
Final Resolution: Motion Carries
Yes: Jermaine McDaniel, Valarie Pike, Pat Porter, Richard Fricks
A. Regular Meeting
Subject
7. Discuss and receive an update on the J.K. Sachse Park
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Discussion, Information
Goals
Provide excellent government services to Sachse citizens.
Provide a high quality of life environment for families, individuals, businesses, and other organizations in Sachse.
Strategically invest in the City's existing and future infrastructure.

 

 

File Attachments
A. Regular Meeting
Subject
8. Set upcoming Board meeting date.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Discussion, Information

 

 

File Attachments
A. Regular Meeting
Subject
9. Adjournment.
Meeting
Aug 10, 2023 - Municipal Development District Board Meeting
Type
Procedural
File Attachments