Res 148-2025 amending (4B) annual budget for fiscal year 2025-2026 11/18/2025 Resolution No. 148-2025
Resolution amending the Wichita Falls Type B Sales Tax
Corporation's (4B) annual budget for fiscal year 2025-2026 to
reallocate funds for downtown marketing and economic development
services to Forward Wichita Falls
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 4, 2025, and October 16, 2025, the Wichita Falls Type
B Sales Tax Corporation's Board of Directors and the City Council, respectively, approved
the corporation's fiscal year 2025-26 Budget; and,
WHEREAS, on November 6, 2025, the Wichita Falls Type B Sales Tax
Corporation's Board of Directors approved a budget amendment to reallocate funds for
downtown marketing and economic development services from the Chamber of
Commerce to Forward Wichita Falls.
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 2025-26 Budget of
the Wichita Falls Type B Sales Tax Corporation are hereby amended and approved.
PASSED AND APPROVED this the 18th day of November, 2025.
MAYOR
ATTEST:
1`y , B(
City Clerk
City of Wichita Falls,1
' 48 Sales Tax Corporation
Financial Summary
Current as of October 31,2025 FY 2025 FY26
Revised Revised
YTD Actual YTU Actual
Budget Budges
Beginning Fund Balance(10/1) $ 14,131,571 $ 14,131,571 $ 12,192,542 $ 12,192,542
REVENUES
Sales Taxes $ 5,128,610 $ 4,760,852 $ 5,171,690
Interest 917,000 790,379 554,117
Reimbursement(TIF 42.) 359,341 • •
Parking Garage Lease - • -
Total Revenues 6,404,951 5,551,231 5,725,807 -
EXPENUITURES
Annual Programs
Debt Service•Projects
Trail/Land/Firing Range(Ref.2018.2029}Series2018B 455,000 • 454,500
Castaway Cove Water Pk(2010.2025)Series 2021 Taxable 102,141 102,140 -
TIF#2/Rhea Road(2011-2031}Series 2021 Tax Exempt 207,894 184,800 208,200
WF Municipal Airport(2013.2033) 140,000 140,000 140,000
TIF#2 Maplewood(2015-2026}Series 2015A 209,341 209,340 208,845
Golf Renovation(2015.2026)Series 2015B 32.5,762 315,381 320,788
MPEC Conference Center (2022.2050) 947,734 947,734 947,699
Downtown Improvement Grants 250,000 87,333 250,000 2.5,000
CUB Incentive Funding 35,000 35,000 35,000
Professional Fees&Advertising 10,000 3,750 10,000
Directors&Officers Insurance 5,000 6,013 6,500
Administration Charges 31,500 31,500 33,000
Annual Programs Total 2,719,372 2,062,992 2,614,532 25,000
OriginaI
Open Protects Award
713 Indiana LLC 250,000 83,334 • 83,334
Bicycle Lanes 100,000 23,700 • 23,700 16,750
SAFE Consultant(2026} 219,000 147,000 77,000 75,000
Sports Complex Improvements 197,000 78,448 • 78,448
Circle Trail Match(Camp Fire to Lucy Park) 760,688 742,T16 95,177 647,538
SAFE•BASH 398,000 298,500 98,344 200,156
MSU Student Success&Military Education 1,000,000 1,000,000.
YMCA Aquatic Center 1,360,000 906,667 453,333
SAFE Strobe Light Repair Project 500,000 • 500,000
The Falls Water Study 129,508 26,040 103,468 33,864
Sikes Senter Acquisition 3,500,000 • 3,500,000
City National Building Renovations 104,100 • 104,100
Potencla Projects•Loco for CI nee; 9,000
HHH-WeeChiTah Light Project 12,200
am er-Downtown Marketing&Development - -
Chamber•Retail Attraction rogram #s2,S1u1 -2,500 42,000
Chamber•Engage Sheppard Program 40,0U0 40,000 36,000
Open Project Total 1,924,688 8,089,806 1,325,728 7,068,278 50,614
City of Wichita Falls,TX
iiik. 4B Sales Tax Corporation
Financial Summary
Current as of October 31,2025 FY2025IIPP" FY2.6
iii
Revised Revised
Bud et YTD Actual Bud et YTD Actual
g B
Beginning Fund Balance(10/1) $ 14,131,571 $ 14,131,571 $ 12,192,54a $ 12,192,542
Closed Projects
Restoring the Past[604 7th) 22,350 22,350 - - -
Restoring the Past(608 7th) 49,000 49,000 - - -
District 5 Park Improvements 318,000 26,005 - -
Chelsea Plaza(804 Lamar) 138,991 138,991 - - -
100 Cntrl Fwy(Land Acquisition) 835,000 834,937 743,310 - -
Riverbend Nature Center 210,000 210,000 210,000 - -
Hotel by the Falls Demo 381,000 387,850 - -
City of WF 2nd Turf Project 2,100,000 2.100,000 •
Hatter'n Hundred Start Line Arch 4,000 4,000 •
Closed Projects Total 5,116,566 3,766,283 3,445,160 - -
Total Expenditures 14,575,460 6,833,880 9,682,810 75,614
Revenues Less Expenditures (8,170,509) (1,282,6491 (3,957,003} (75,614)
Less Open Projects 6,764,078 7,017,663
Less Budgeted Annual Programs(not yet spent) 656,380 2,589,532
Unrestricted Fund Balance $ 5,961,062 $ 5,428,465 $ 8,235,540 $ 2,509,733