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Res 109-2022 Approving Wichita Falls Type B (4B) Sales Tax Corporation Budget 2022-23 09/06/2022
Resolution No. 109-2022 Resolution approving the Wichita Falls 4B Sales Tax Corporation Budget for Fiscal Year 2022-2023 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 August 17, 2022, the Wichita Falls Type B Sales Tax Corporation's Board of Directors approved the attached 2022-23 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 2022-23 Budget of the Wichita Falls Type B Sales Tax Corporation are hereby approved. PASSED AND APPROVED this the 6th day of September, 2022. 2 MAYOR ATTEST: a. ,&- ity Clerk L _ City VI Wichita Falls,TX ,•;n,.,Ek 4a Sales Tag Curirurtiun Financial Summary Cur rent.ti us.06-11.22 FY 2021 FY 2022 FY 2023 Original Revised Rear red Prapaied Award Budget Year End Jktual BudgetyTZDActual Budget Bginnin g Fund valance(10/11 $ 7,540,015 $ 7,548,015 $ 8,537,125' $ 8,637,in $ 9,511,344 REVENUES, Sales Tames $ 3.897.293. $ 1,727,35.1 $ 4,268,361 $ 3,835,372 $ 5,110,000 Interest 32.150 5,395 25,00c 35,751 208,000 Reimbursement air W21 358,832 353,632 359,311 3 4,132 Total Revenues 4,28 275 1,733,743 4,652,193 4231,434 5,676,632 EXPENDITURES Annual Prrgrarrii Debt 5erviLe-Pro {tS. TDF 12 Maplewood 12016-2026) 454,475 454,475 452.5E0 - 454,200 Castaway Cove Water Pk 12010-2025) 385,960 365,950 366.660 - 385,250 TIF 12/Rhea Road(2011-2031) 231.550 231,553 211.750 - 226,800 WF Municipal Airport 1 2 0 13-2033) 140.000 140,030 140.00t7 - 140,000 Trail/Land/Firing Range(Ref.2016-20250 207,293 207,392 207.392 - 203,735 Golf Rervrrvation 2015-20261 323,0E6 323,0E16 321.012 - 323,230 MPEC Conference Centex i2022-2050) 915,661 - 915.6E1 - 048,468 Downtown Improvement Grants. 100,000 43,147 10t7.00t7 39,540 100,0100 C9%Incentive Funding 35,000 - 35.00{] 35,000 35,000 Professional Fees&Adveniiirtg 4.000 1,374 4.00C] 3,162 4,000 Directors&Officers Insurance 5.000 4,756 S.00{] 3,421 5,000 Capital Eouipnrent Maintenance 647.736 302,140 477.000 511,5.12 175,000 Administration Charges 20.00C' 20,030 20.00C] 15,000 30,000 Parking Garage-&nnu,I Program 25.00C' 1,668 25.00D 5,176 25,000 Annual PrairarrYSTotal 3,494,751 2,120,546 3,322,935 612,641 3,060,693 Open Projects 793 Indiana LLC 250,3{0 253,000 - 250.DOQ - 250,000 Arts Al IIante Mural 10,DO0 10,000 10,000 5,041) 5,000 6icyde Lanes 1CO3DO0 100,000 76,751 123,249 6,161 117,0S. District 5 Park Improvements 318,0110 26.005 - 26,005 - 26,005 MPEC C;onf.Center(Architect) 456,477 456.477 314,644 141.633 35,312 106,521 Pickers Universe 133.00r7 133.000 - 113.00 - 133,000 TAP Grant Match(Circle Trails) 2,391,923 1.440.910 762,472 615.0CC] 35,219 699,7$1 YU'icDyita Co Heritage'Kell House;) 1C0.DO0 100.00C' - 1C{].00{] - 100,000 MPEC Hotel Developer 2.000,3E0 2.000.00C' - 2.00C].00rO - 2,000,000 BackdormTheatre 104,632 - - 104.632 - 104,632 The Kate}Peuoleun•Building 1.017,192 - - 1,017.192 - 1.017,102 Open PtoJett Total 6,831,22.4 4,516,392 1,179,867 1,5400,911 61,692 4,459,219 Litt'at Wichita Falls,TX 413 Saki Tak{6hpc radiu,n Financial 5tinvnary Cur tentai i406,.LL32 Ff$11d1" FY29'!t PE MAI OtigIal Revised Revised Proposed Award 'MAW Budget End Attila' TM fTDikttU I met BeKin ling FLind Balanue I,10111 $ 7,540,016 $ 7,540,016 5 3,637,125 5 3,337,125 $ 9,511,344 Clayed Pru;eLb Mall Pin[.II LLC r664 Ohio.' 50,975 50,975 1..975 50,975 - MPEC raLilities(LED,RRRI 230,0E0 261,937 202,000 - Arts Cour1til('Ker ip Center) 120,0E0 166.DEO L30,000 110.000 120.006 - Tl a Burn Shop 8,225 6.225 3,223 - Art',NM dT LL.0(620011104 26,060 26.003 26,000 - Chtielsea Plata,LLC 11909 8th) 55,7EO 55.7E0 - 55,700 53.535 - Railroad Museum Downtourti 7,5EO 7,5E0 - 7,5E0 - - MPEC Live USck Pens 150,0E0 - - 150.1X0 148,837 - Gated Pfriietil Tatil 643,460 450,337 336,725 334,175 37'3.347 - TaLal Expendlduet 80061,480 3,636,639 8,2.4 ,071 1,067,86a 7,5.19,917 Revenues Less Expenditures (4,173,2051. 1,097,110 13.595,62p 3,163,554 (1,643;01301 Less Encurnbrtance for Projects - 3,399,724 - 4,459.219 urlrestrl[ied Rind BbIme $ 3,316,1311 $ 5,737,442 $ 5,041,297 5 7,341,4&13