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Ord 31-2008 6/3/2008 . , ORDINANCE NO. �L_aoob ORDINANCE OF THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, AMENDING ORDINANCE 22-89, CEMETERY REVENUE FUND, TO PERMIT EXPENDITURE OF FUNDS FOR CEMETERY LAND ACQUISITION AND DEVELOPMENT; FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS ORDINANCE WAS PASSED WAS OPEN TO THE PUBLIC AS REQUIRED BY LAW. WHEREAS; it is desirable to achieve a cemetery operation that is self supporting not requiring subsidy from the General Fund; and WHEREAS, the Cemetery Revenue Fund has a balance of approximately $900,000; and WHEREAS, it is deemed prudent to make these funds available for cemetery expansion and development in order to better achieve the goal of self support. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: SECTION 1. Ordinance 22-89 is hereby amended as follows: SECTION 1. There is hereby established a special revenue fund to be known as "Cemetery Revenue Fund," which shall be maintained in the City's depository bank. All revenues received from cemetery lot sales and other revenues as designated shall be deposited as collected into the Cemetery Revenue Fund. Money in such fund shall be invested, and the revenue received form such investments shall become part of the fund. Revenue received from investments shall be used only for cemetery maintenance and capital costs connected with the cemeteries at a time when such revenue is sufficient to finance the annual operation of the cemeteries or there is no longer available space for cemetery lot sales. Revenue received from investments may also be used prior to this time, if thev are used onlv for capital improvements to the cemeteries that have a revenue potential for returning all proceeds used to this special revenue fund. SECTION 2.. It is hereby officially found and determined that the meeting at which this ordinance was passed was open to the public as required by law. , , PASSED AND APPROVED this the 20th day of May 2008. MAYOR ATTEST: y Clerk Financial Chart of Plan for Cemetery Operation Self Support Year Expense Revenue Revenue Revenue Tax Perpetual Perpetual Perpetual @ 2% Interment Riverside Riverside Subsidy Fund Fund Fund Fees Expansion Expansion Interest Grave Grave Interment @ 2% Sales Sales Fees 2005 206 955 70 000 0 0 136 955 683 200 13 664 56 000 2006 200 000 70 000 0 0 130 000 747 864 14 664 50 000 2007 200 000 70 000 0 0 130 000 818 921 16 057 55 000 2008 204 000 75 000 0 0 129 000 893 439 17 518 57 000 2009 208 080 85 000 65 000 8 000 50 080 972 508 19 069 60 000 2010 212 242 87 000 68 000 8 000 49 242 1 055 198 20 690 62 000 2011 216 487 90 000 70 000 9 000 47 487 1 142 602 22 404 65 000 2012 220 817 93 000 73 000 9 000 45 817 1 236 854 24 Z52 70 000 2013 225 233 95 000 75 000 10 000 45 233 1 336 051 26 197 73 000 2014 229 738 97 000 78 000 10 000 44 738 1 439 272 28 221 75 000 2015 234 333 105 000 80 000 11 000 38 333 1 549 657 30 385 80 000 2016 239 020 105 000 83 000 12 000 39 020 1 665 310 32 653 83 000 2017 243 800 110 000 85 000 13 000 35 800 1 785 316 35 006 85 000 2018 248 676 110 000 90 000 13 000 35 676 1 912 82Z 37 506 90 000 2019 253 650 115 000 95 000 15 000 28 650 2 045 938 40 116 93 000 2020 258 723 120 000 100 000 17 000 21 723 2 183 757 42 819 95 000 2021 263 897 123 000 105 000 20 000 15 897 2 326 372 45 615 97 000 2022 269 175 125 000 110 000 20 000 14 175 2 474 899 48 527 100 000 2023 274 559 128 000 115 000 22 000 9 559 2 629 457 51 558 103 000 2024 280 050 132 000 118 000 25 000 5 050 2 789 146 54 689 105 000 2025 285 651 136 000 123 000 27 000 -349 2 957 129 57 983 110 000 r r f � Financial Chart of Plan for Cemetery Operation Self Support ( with expansion ) Year Expense Revenue Revenue Other Perpetual Perpetual @ 2% Riverside Riverside Cemetery Fund Fund Expansion Expansion Grave Interest Grave Interment Sales @ 4% Sales @ 3% Fees @3% @ 3% 2008 204 000 0 0 57 000 905 000 36 200 2009 208 080 65 000 8 000 58 710 555 873 38 548 2010 212 242 66 950 8 240 60 471 707 948 24 654 2011 216 487 68 959 8 487 62 285 870 001 30 809 2012 Z20 817 71 028 8 742 64 154 1 042 549 37 366 2013 225 233 73 159 9 004 66 079 1 226 132 44 345 2014 229 738 75 354 9 274 68 061 1 421 315 51 768 2015 234 333 77 615 9 552 70 103 1 628 690 59 657 2016 239 020 79 943 9 839 72 206 1 848 875 68 036 2017 243 800 82 341 10 134 74 372 2 082 518 76 930 2018 248 676 84 811 10 438 76 603 2 330 297 86 365 2019 253 650 87 355 10 751 78 901 2 592 921 96 368 2020 258 723 89 976 11 074 81 268 2 871 133 106 968 2021 263 897 92 675 11 406 83 706 3 165 708 118 194 2022 269 175 95 455 11 748 86 217 3 477 457 130 077 2023 Z74 559 98 319 12 100 88 804 3 807 230 142 650 2024 280 050 101 269 12 463 91 468 4 155 915 155 948 2025 285 651 104 307 12 837 94 212 4 524 439 170 005 2026 291 364 107 436 13 222 97 038 4 913 772 184 859 2027 297 191 110 659 13 619 99 949 5 324 929 200 549 2028 303 135 113 979 14 028 102 947 5 758 970 217 115 2029 309 198 117 398 14 449 106 035 6 217 003 234 600 2030 315 382 1z0 920 14 882 109 216 6 700 188 253 049 2031 321 690 124 548 15 328 112 492 7 209 735 272 507 2032 328 124 128 284 15 788 115 867 7 746 910 293 024 2033 334 686 132 133 16 262 119 343 8 313 036 314 650 � �, :. �� �,�, , . ���.,..�.� ���.: � � , �, � : �."°.�:.. �. E ��` ,, 2035 348 208 140 180 17 253 126 611 9 537 729 361 444 � , r � Financial Chart of Plan for Cemetery Operation Self Support ' ' ( without expansion ) Year Expense Revenue Revenue Other Perpetual Perpetual @ 2% Riverside Riverside Cemetery Fund Fund Expansion Expansion Grave Interest Grave Interment Sales @ 4% Sales @ 3% Fees @ 3% 2008 204 000 0 0 57 000 905 000 36 200 2009 208 080 0 0 58 710 1 002 258 38 548 2010 212 242 0 0 60 471 1 105 238 42 509 2011 216 487 0 0 62 285 1 214 224 46 701 2012 220 817 0 0 64 154 1 329 513 51 135 2013 225 233 0 0 66 079 1 451 416 55 824 2014 229 738 0 0 68 061 1 580 256 60 779 2015 234 333 0 0 70 103 1 716 373 66 014 2016 239 020 0 0 72 206 1 860 122 71 543 2017 243 800 0 0 74 372 2 O11 874 77 380 2018 248 676 0 0 76 603 2 172 016 83 539 2019 253 650 0 0 78 901 2 340 954 90 037 2020 258 723 0 0 81 268 2 519 l i l 96 889 2021 263 897 0 0 83 706 2 706 930 104 113 2022 269 175 0 0 86 217 2 904 873 111 726 2023 274 559 0 0 88 804 3 113 424 119 747 2024 280 050 0 0 91 468 3 333 088 128 196 20z5 285 651 0 0 94 212 3 564 392 137 092 2026 291 364 0 0 97 038 3 807 887 146 457 2027 297 191 0 0 99 949 4 064 149 156 313 2028 303 135 0 0 102 947 4 333 780 166 684 2029 309 198 0 0 106 035 4 617 408 177 593 2030 315 382 0 0 109 216 4 915 689 189 065 2031 321 690 0 0 112 492 5 229 308 201 127 2032 328 124 0 0 115 867 5 558 982 213 807 2033 334 686 0 0 119 343 5 905 458 227 133 2034 341 380 0 0 122 923 6 269 516 241 135 2035 348 208 0 0 126 611 6 651 972 255 845 2036 355 172 0 0 130 409 7 053 676 271 295 2037 362 275 0 0 134 321 7 475 517 287 520 2038 369 521 0 0 138 351 7 918 423 304 555 2039 376 911 0 0 142 502 8 383 362 322 437 2040 384 449 0 0 146 777 8 871 345 341 206 2041 392 138 0 0 151 180 9 383 426 360 901 2042 399 981 0 0 155 715 9 920 707 381 566 2043 407 981 0 0 160 386 10 484 337 403 244 � x ��` �� �� e � �� � s Y •,. . �.. z; .s, � . 2045 424,464 0 0 170,154 11,695,497 449,827