Res 021-2019 Personal Liability Insurance for 4B Board of Directors 2/19/2019Resolution No. 21-2019
Resolution approving the programs and expenditures of the Wichita
Falls 4B Sales Tax Corporation Board of Directors and amending the
budget to include funding up to $5,000 to purchase personal liability
insurance coverage for the directors and officers of the 4B
Corporation Board of Directors
WHEREAS, Texas Local Gov't. Code § 501.073(a) provides "The corporation's
authorizing unit will approve all programs and expenditures of a corporation and annually
review any financial statements of the corporation;" and,
WHEREAS, on February 4, 2019, the Wichita Falls 4B Sales Tax Corporation
(4BSTC) approved the project listed below and as stated in its agenda.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The Wichita Falls 4B Sales Tax Corporation's approval and funding of the
following programs and expenditures, in a total amount not to exceed $5,000 as described
below and in said corporation's agenda, is approved:
To procure personal liability insurance coverage in the amount of $5
million per member for the directors and officers of the members of the
Wichita Falls 4B Sales Tax Corporation.
2. The current fiscal year budget of the 4B Sales Tax Corporation is amended to
provide for the aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 19t" day of February, 2019.
ATTEST:
"City Clerk
413 SALES TAX CORP.Iri
Budget & Financial Statement
'
�
112512019
Revenue
i�
FV.17
Actual
FY 18
Actual
FY 19
YTD Actual
Sales Taxes
Interest
$
$
3,735 566
21,666
/ $
,/ $
3,976 836
45,395
,, % $ 632,929
$ 26,303
%
Reimbursement (TIF #2)
$
321,161
, �, $
357,608
Other Reimbursements
$
Remaining Project Balances
Total Revenues
$ 4 078, 393
,
% $ 4 379, 339
,' ', $ 659, 232
COMPLETED/CLOSED PROJECTS
Wayfinding Signage
® $
140,000
Falls Bridge Replacement and By Pass
$
53,800
Kemp Sidewalk Project
Trail Project (Bluffs to Loop 11 j/
j $
$
119,222
234,593
$
2,649
Brick Oven Pizza Pub/Craft Beer
$
-
$
44,200
120 Day Extension with Gatehouse
$
309,000
P-2 The Deuce "'Warehouse"' Ramp
$
6,200..
ANNUAL PROGRAMISIEXPENDITURES
Debt Service -- Projects
TraiYl-and/Firing Range (2009)
i
491 228
$
491 1174Castaway
Cove Water Pk (2010)
TIF #2 ! Rhea Road (2011)
$
$
1/ti
386 440
228 550
, . $
$
387 580
230 650WF
Municipal A€rport (2013)
$
140 000
$
140 000
Public Safety Projects (20f3 Series)
TIF #2 Maplewood A Series)
-$
355 250/
208,382
$
350 200
207,608
(2015
n$
$
o
Golf Renovation (2015B 'Series)
$
326,494
/ $
�l
323,460
Downtown Improvement Grants
CWB Incentive Funding
Professional Fees
$
$
$
39,004
35,000
18,000
$
$
$
26,147
35,000
7,626
$ 8,312
"l
Capital Egwpmt M1lannt ! Imprvmts
Radio Maintenance (73238)
/
% $
9,792
' $
140,023
$ 220,781
CADIRecards Maint (73239)
MDT Software Maint 72011)
/ $
%
169,205
175,911
$
196,885
178,1124%'
� ,� $ 190,932
163,163
(71110
Street Improvements
$
� � $
375 882
$
$
Administration Charges
'-'"
$
10 000
;, ,% $
10,000
OPEN PROJECTS
District 5 Park Improvements
$
2 000
Buxton Retail Services
$
50,000
�� $
-
Center City 728 IndianaGrocery/ice
Cream Store 922 Indiana120
Day Extension with Gatehouse #2
$
237 963
$
30 225
MPEC Parking Engineering Fees
In
$
95000
Wichita Falls Brewery 701 Indiana
$
39 836
Comprehensive Econ Dev Strategy
$
15 000
$
65 412
4Kiids Sake Theatre 914 Indiana
$
20 000
Genache Custom Cakery 800-806 Ohio
OPG Senior Living Units 11100 Lamar
$
150 000
Wichita Co Heritage Society (Kell House)
Freese and Nichols Professional Svcs
/ $
134,283
$ 15,537
Hook and Ladder (Weske)
$
16,000
Brown Building (Patterson)
DWIFD Inc Farmers Market/
$
5,497
$ 15,419
Upstate Ireland LLC 614 7th
TAP Grant Match (Circle Trails)
MPEC Facilities (LEDs, RR's)%
Museum of North Texas
0
%
Total Expenditures
S
4 154 916
5
3 329 579
, $ 6t.4 144
Revenues Less Expenses
$
(76 5231,
% $
1,050260
$ 45 088
Beginning Cash Balance _
Enduing Cash Balance
$
$
3.858 787
3.762 264
$
$
3.782 264
4.832 524
$ 4,832 524
�; $ 4.877 612
Reserved For Encumbrances
1,296 992
,
1,112 26fl,
3,953 608
$
,
�, $
$
Unreserved) Fund Balance
$ 2,483 272
% $ 3,720 264
$ 924 004