Res 108-2021 FY 2021-2022 4B Sales Tax Corporation Budget 09/21/2021 Resolution No. 108-2021
Resolution approving the programs and expenditures of the Wichita
Falls 4B Sales Tax Corporation Budget for Fiscal Year 2021-2022
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 2, 2021, the Wichita Falls Type B Sales Tax
Corporation's Board of Directors approved the attached 2021-22 Budget.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The programs and expenditures of the attached Fiscal Year 2021-22 Budget of
the Wichita Falls Type B Sales Tax Corporation are hereby approved.
PASSED AND APPROVED this the 21st day of September, 2021.
MAYOR
ATTEST:
City Clerk
City of Wichita Falls,TX
L, {ai nx.FL - Economic Development Corporation
4 Financial Report
Current as of 08.30.21
FY 2020-21 FY 2021-22
Original Award Revised Budget YTD Actual Proposed Budget
EFB 09.30.2021(estimated) 7,540,016 7,540,016 7,995,896
Revenues
Sales Taxes S 3,897,293 S 3,499,362 S 4,268,361
Interest 32,150 5,987 25,000
Reimbursement(TIF#2) 358,832 - 358,832
Other Reimbursements/Contributions - - -
Total Revenues: 4,288,275 3,505,349 4,652,195
Expenditures
Closed Projects:
MPEC Facilities(LEDs,RR's) 230,000 201,937 202,000
Arts Council (The Forum) 100,000 100,000 100,000
The Bum Shop 8,225 8,225 8,225
Anchored DT LLC(620 Ohio) 26,000 26,000 26,000
Closed Project Total: 364,225 336,162 336,225 -
Annual Programs:
Debt Service-Projects iii
Trail/Land/Firing Range(Refunded,2018-2029) 454,475 454,475 452,500
Castaway Cove Water Pk(2010-2025) 385,960 - 388,600
TlF#2/Rhea Road(2011-2031) 231,550 35,775 231,750
WF Municipal Airport(2013-2033) 140,000 - 140,000
TIF#2 Maplewood(2015 A-2026) 207,293 - 207,392
Golf Renovation(2015B Series-2026) 323,086 26,543 321,012
MPEC Conference Center Issuance(2022-2050} 915,681 - 915,681
Downtown Improvement Grants 100,000 44,772 100,000
CVB incentive Funding 35,000 - 35,000
Professional Fees&Advertising 4,000 1,374 4,000
Directors&Officers Insurance 5,000 4,756 5,000
Capital Equipmt Maint/Imprvrnts
Radio Maintenance(73238) 267,000 246,378 242,000
CAD/Records Maint(73239) - - -
MDT Software Maint(71110) 373,706 46,862 228,000
Administration Charges 20,000 20,000 20,000
Air Cards 7,000 6,687 7,000
Parking Garage-Annual Program 25,000 1,265 25,000
Annual Program Total: 3,494,751 888,887 3,322,935
Open Projects:
713 Indiana LLC 250,000 250,000 - 250,000
Arts Alliance Mural 10,000 10,000 - 10,000
Bicycle Lanes 100,000 100,000 76,751 123,249
Chelsea Plaza,LLC(909 Jith Street) 55,700 55,700 - 55,700
City of Wichita Falls,TX
4il-thdet. Economic Development Corporation
Financial Report
Current as of OB30.21
FY 202041 FY 2021-22
Original Award Revised Budget YID Actual Proposed Budget
EFB 09.30.2021(estimated) 7r540r016 7,540,016 7,995,896
District 5 Park Improvements 318,000 26,005 - 26,005
Half Pint Ill LLC(809 Ohio) 50,975 50,975 - 50,975
MPEC Conference Center Preconstruction Cast 456r477 456,477 312r578 143,899
Open Projects(continued):
Pickers Universe 133r000 133,000 - 133,000
TAP Grant Match(Circle Trails) 2,391,923 1,440,910 1,435,028 635,000
Wichita Co Heritage Society{Cell House) 100r000 100,000 - 100,000
Railroad Museum Downtown(North Texas) 7r500 7,500 - 7,500
MPEC Hotel Developer 2,000,000 2,000,000 - 2,000,000
Open Project Total: 5r873r575 4,634,567 1,824,358 3,535,328
Total Expenditure: 8,461,480 3r049,469 6,858,265
Less Encumbrance for Projects 2,806,209 -
Revenues Less Expenditure/Enc. (4,173,205) 455,880 (2,206,070)
Unrestricted FB $ 3,366,811 $ 5,189,687 $ 5,789,827
l Debt service poy rent reflective of act,ot.
*FY 2018-19:
H&B Trail Lake Wichita Park to Marina 30,000
FY 2018-19 Total: 30,000
**FY 2020-21:
H&B Trail Lake Wichita Park to Marina(20%
Match) 605,000
FY 2020-21 Total: 605,000