03.28.23Welcome to the March 28, 2023,
Prosper Town Council Meeting
Call to Order/Roll Call
Invocation, Pledge of Allegiance, and Pledge to the
Texas Flag
Pledge to the Texas Flag
Honor the Texas flag; I pledge allegiance to thee,
Texas, one state under God, one and indivisible.
Announcements
Consent Agenda
Agenda Item 1.
Consider and act upon the minutes from the March 14,2023,
Town Council Work Session meeting.(MLS)
Agenda Item 2.
Consider and act upon the minutes from the March 14,2023,
Town Council Regular meeting.(MLS)
Agenda Item 3.
Consider and act upon the minutes from the March 20,2023,
Town Council Work Session meeting.(MLS)
Agenda Item 4.
Consider and act upon a resolution awarding the depository
services contract to Independent Financial and authorizing the
Town Manager to execute all documents for same.(CL)
Agenda Item 5.
Consider and act upon approving funding for expenses of
scheduled and unscheduled maintenance and repairs by
Siddons-Martin Emergency Group,LLC to fire department
apparatus including fire engines and aerial trucks.(SB)
Agenda Item 6.
Consider and act upon approving the purchase of water and
wastewater materials from Ferguson Enterprises,LLC,
utilizing BuyBoard contracts;and authorizing the Town
Manager to execute documents for the same.(FJ)
Agenda Item 7.
Consider and act upon approving the purchase of one 2023
Chevrolet Silverado 2500HD for Facilities Management from
Enterprise Fleet Management utilizing The Interlocal
Purchasing System (TIPS);and authorizing the Town
Manager to execute the same.(JC)
Agenda Item 8.
Consider and act upon approving the purchase of two 2023
Chevrolet Tahoe’s and for the Police Department from
Enterprise Fleet Management utilizing The Interlocal
Purchasing System (TIPS);and authorizing the Town
Manager to execute the same.(JC)
Agenda Item 9.
Consider and act upon approval of the change order #3
related to construction services for the Hays Park Project
(1802-PK)to Ratliff Hardscape,Ltd.,and authorizing the Town
Manager to execute the change order for same.(DB)
Agenda Item 10.
Consider and act upon a resolution authorizing the Town
Manager to execute an Advance Funding Agreement between
the Texas Department of Transportation (TxDOT),and the
Town of Prosper,Texas,related to the design and
construction funding of the Preston Road (SH 289)and First
Street Dual Left Turn Lanes project.(HW)
Agenda Item 11.
Consider and act upon approving a resolution supporting U.S.Highway 380 as a
Controlled Access Highway within the corporate limits of the Town of Prosper,in
accordance with recommendations by the Texas Department of Transportation in
its December 2022 Draft Environmental Impact Statement for U.S.Highway 380
from Coit Road to FM 1827,and January 2023 Draft Environmental Assessment
for U.S.Highway 380 from Teel Parkway to Lakewood Drive;acknowledging the
preferred alignment of the future expansion of U.S.Highway 380 within the
corporate limits of the Town is consistent with the Town’s Thoroughfare Plan;
requesting that the Texas Department of Transportation’s final Environmental
Impact Statement and Environmental Assessment reflect the alignment of U.S.
Highway 380 within the corporate limits of the Town of Prosper as recommended;
and authorize the Mayor to submit comments to the Texas Department of
Transportation on the Draft Environmental Impact Statement and/or Draft
Environmental Assessment.(HW)
Agenda Item 12.
Consider and act upon an ordinance establishing a no parking
zone on Foxfield Court.(HW)
Location Map
Proposed No Parking Zone on
Foxfield Court:
7AM –9AM
2PM –4PM
School Days
Citizen Comments
The public is invited to address the Council on any topic.However,the
Council is unable to discuss or take action on any topic not listed on
this agenda.Please complete a “Public Comment Request Form”and
present it to the Town Secretary prior to the meeting.Please limit your
comments to three minutes.If multiple individuals wish to speak on a
topic,they may yield their three minutes to one individual appointed to
speak on their behalf.All individuals yielding their time must be
present at the meeting,and the appointed individual will be limited to a
total of 15 minutes.
Regular Agenda
If you wish to address the Council,please fill out a “Public Comment
Request Form”and present it to the Town Secretary,preferably before
the meeting begins.Pursuant to Section 551.007 of the Texas
Government Code,individuals wishing to address the Council for
items listed as public hearings will be recognized when the public
hearing is opened.For individuals wishing to speak on a non-public
hearing item,they may either address the Council during the Citizen
Comments portion of the meeting or when the item is considered by
the Town Council.
Agenda Item 13.
Consider and act upon an ordinance adopting a Special
Purpose Sign District for the Gates of Prosper,Phase 2 and
Phase 3,on 52.1±acres,located on the northwest corner of
US 380 and Preston Road.(MISC-23-0001)(BC)
Gates of Prosper SPSD for Phases 2 & 3
•Existing SPSD-4 only covers signage east of Preston Road
•A previous waiver request (MD20-0001 approved on 2/25/2020)
accounted for signage in Phase 2
•This request will wrap Phase 2 and 3 into a new SPSD and allow for
consistent signage throughout all 3 Phases
•New SPSD will also allow for 6 wall signs of increased height at Target
Sign Coordination Plan
•Shows locations of Unified
Development Signs,
Monument Signs, and
Development Identity Signs
•Spacing and number of
allowed signs as per
Ordinance
•Larger (20’) Unified
Development Sign allowed
along US Highway 380
Unified Development Sign (typical example)
Target Wall Signs
Agenda Item 14.
Consider and act upon a resolution accepting the
Independent Audit Report and Annual Comprehensive
Financial Report for the Fiscal Year Ended September 30,
2022,as audited by Weaver and Tidwell LLP,Certified Public
Accountants.(RBS)
Town of Prosper
FY 2022 Annual Comprehensive
Financial Report
Preparing the ACFR
•Independent Audit Performed on The Basic Financial Statements
•Results of the Audit presented to the Finance Sub-Committee on March 27th
•Clean audit opinion confirming that the financial statements are fairly stated
•Other required communications presented by the auditor,Weaver &Tidwell
•Staff walked through the financial statements in detail with
committee
•With passage of tonight’s resolution,staff will post the report on the
Town’s website,submit it in compliance with debt covenants and
also submit it for review by Government Finance Officer’s
Association
Management Discussion and Analysis
•Only section of the report that provides comparative amounts
from previous year.
•Must be objective and free of hype -GASB version modeled after
the SEC version used for public companies
•Efforts were made this year to enhance and better explain key
events during the year.
•Impact and volatility caused by developer contributions
•Nature of Capital Assets-commitment to maintain
•Higher level of variability for W & S Revenues vs. Expenses
Basic Financial Statements
•Overall, results are good and reflect a financially healthy, growing
government.
•Page 17-Restricted for Capital Projects has grown from $66 million
to $84 million in FY 2021. Not surprising given the large debt
issuance for two years in a row following passage of the 2020 Bond
Election but it should level off.
•Statement of Activities uses a very different format:
•Attempts to show extent to which governmental functions are self-supporting
before taxes.
•The $27,530 number implies that we are but it is very misleading as it is due
to developer contributions.
Basic Financial Statements
•General Fund Budget & Actual now has audit assurance as it is
shown as part of the Basic Financial Statements. Budget
patterns should change in future years.
•Prior Period Adjustment of $325,964 is for two incorrect
accounting treatments related to 2021 and prior both related to
a lack of understanding regarding accrual and modified accrual
accounting.
•Pension Plan 93.5% funded with 14.1% contribution rate.
Statistical Tables
•Table 1-Net Position 600% increase in Net Position in 9 years
with 87% being invested in capital.
•Table 4-most interesting here is the Debt Service as % of
expenditures. Rating agencies do focus on the relationship
between operations and debt.
•Table 6-Taxable is under 70% of market but we are also seeing
increases in BPP.
•Table 9-Snapshot Table very unusual to show no overlap in Top
Taxpayers
Statistical Tables
•Tables 10-12 Debt Tables are worth reviewing.
•Table 15 another snapshot table that reflects massive changes
in nine years.
•Table 16-Operational Data provides insight into operations.
Possibly direct Town Staff to schedule topic(s) for
discussion at a future meeting.
Executive Session
Section 551.087 –To discuss and consider economic development incentives and
all matters incident and related thereto.
Section 551.072 –To discuss and consider purchase,exchange,lease or value of
real property for municipal purposes and all matters incident and related thereto.
Section 551.074 –To discuss and consider personnel matters and all matters
incident and related thereto.
Section 551.074 -To discuss appointments to the Board of
Adjustment/Construction Board of Appeals,Parks &Recreation Board,Library
Board,Prosper Economic Development Corporation Board,Planning &Zoning
Commission,and the Community Engagement Committee,and all matters
incident and related thereto.
The Town Council will reconvene after Executive
Session.
Reconvene into Regular Session and take any
action necessary as a result of the Closed
Session.
Adjourn