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Res 093-2020 2020-2021 Fiscal Year Budget WFEDC 10/6/2020Resolution No. 93-2020 Resolution approving the programs and expenditures of the Wichita Falls Economic Development Corporation Budget for Fiscal Year 2020-2021 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 September 17, 2020, the Wichita Falls Economic Development Corporation's Board of Directors approved the attached 2020-21 Budget; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: The programs and expenditures described in the attached Fiscal Year 2020-21 WFEDC Budget of the Wichita Falls Economic Development Corporation (WFEDC) are hereby approved. PASSED AND APPROVED this the 6th day of October, 2020. ATTEST: City Clerk 4A Wrporatim Budget & Financial Statement 9/29/2020 Rim [597,656.001 gefnajFfing E U2 Pf 19 EY 20 FY 20 FY 2 1- Ravenna BudFA Eki Actual Rey, Midget Yid ,actual Budget Sales Taxes $ 3,994r69D $ 4,151,979 $ 4,159,000 $ 3AM,263 $ 3,89,4649 Other Rents (ATCD Leasef - - - - Reimbursements (AMfuelr Carter, DEAAG, dlamberj, 11) 1,540,000 lr5.47,UG3 1,500,0010 2,ZW,024 207,C00 (Merest 1B0,000 366,217 210,000 173,505 102,711 Total Revenues 5 S 5-6f.1.69C1 $ 6,065258 5.$6S.0aD 5 5-.693.793 t Completed J dosed Projects GuidelTProjert - - - 55,5D0 Stanley Building ImproverneM Project IW,D00 99,279 IDD.000 49,405 ATCO5tructures Operating Expenses 105,000 55,974 ID5.000 53,239 Stanley ATCD Marketing Plan - 5,81Z - 2,952 Marktet Street Ed Plan 7,500 510 Vktro-apffCbater - - - - Eagle Rail-Projlect III i50,00U Nexstar - - 32,D06 - MagicAire - 500AM - - Eagle Rail - Project IV 6W DDd 600,00U Arconic RR Crossings - 50AM - - SAFB Gate Pr Phase Ili 1,00AM 89G,475 Anlnlal Programs Ad Valorem Tax $ 32.360 $ 80,660 $ 99,162 $ iD0,000 $ 97,16D $ 100,CM Professional Fees 30,004 30,000 27.964 30,000 23,740 30AM CCI-Contract 10}iarter Year FY 21) 560.907 610,144 59i8,144 94S,978 763,548 1,062,148 Economic Development Marketing 225,004 370,DDD 370AM 92,5w 92,5A0 23,125 SMAC 315,004 151,175 154175 250,000 112,5AD 150AM Downtown WF CeApmt, Inc. 100,004 1CO,DDO 1oUrCw 95,650 95,65D 110AM Business Plan Contest Lalani 30,004 30,000 3UrCM - - Business Park Maintenance 109,391 105,696 iaseuU 105,696 81,799 105 696 Wite,rl5ewer Sanitation 8.a 0 5,5DO 4r366 5,SOU 6)D31 55U6 Gas - - - Elertricity 4O4 7,DU0 124 7,000 203 7,UU0 City Administrative Expense 50,00o 50,000 5Urcw 60,000 56,000 60AM WF Regional Airport Facilities (2033j 14A,OOD 140,000 14UrCW 140pao 140,000 14OPM CNoase with to Falls Program 2D0,00D 5,000 5r0U6 5,0010 3,750 5pw Di rertars and [Hitters I rtsurance 5,DDO 12r322 5,000 4,749 5,1= ED Strategic Planning 10,000 - - - - - Labor Market study 30,OOD Best PrartitesSite Visits 15,OOD - - - - Travel Expenses - - - - 511 - De eciation 2 - 19r144 - Open Projects Pratt & Whitney Technology $ 965,020 5 $ 49;7B5 5 - VSABCO 924,OU5 - - - 436,142 MPEC,fHotel Parking Lot 497,5430 - - - Owens Coming 1,615,000 - 1.220.LM - 325,Dd0 Braun I'Mertec Emrironmental Study 231,197 - 133.26..2 60,000 127,941 Sharp Iron Recruitment 21,000 139,660 6Dw - Cryouac (UPS and Printer Label ingj 1,250,0011 - opportunitieS strategies 2,0, m 20.000 16. Bzz - 2,997 TryerProcessing - - - 150,000 Pamlico Air - - - 2,278,200 1,506,000 Chamber: Employee Recruitment Program - - - 2D0,000 - DuPlayTruiNing 1,3M,000 - i.d-e.a Wichita Falls - - - 50,000 - Panda Biotech - 2,800,000 - Total Expenditures 7,379,9W 5 -2,654,775 5,463 303 f.822,524 5.110.M 903 Rewumie5 Less I Unreserved Fund Balance I I.V wfudes prior veor reiimbursernents (2) €conomfc Devefopmenr Bu.Sdfng Delp. prkr Remainim EM EL12 JY 26 EYIQ BLKkMau ArWd Rev. auger Yra Amid $ 3x%915 $ Sr01955 $ J4954,524) $ -783.6D3 $ 12,336,736 $ 12,93(,736 $ 12,938,691 $ 1Z_Sd8,691 J_; JJ F41 G. 17N=7 g284.163 # 1 3 7+r 7�344 $ 10,374097 $ E )M $ 8,d8A,635 $ ia„Q53,982 5 Q975 564 S j5uw 5 1.904.132 S 3_660,311