Res 105-2026 4A FY2027 Budget 09/15/2026 Resolution No. 105-2026
Resolution approving the Wichita Economic Development
Corporation Budget for Fiscal Year 2026-2027
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 27, 2026, the Wichita Falls Economic Development
Corporation's Board of Directors approved the attached 2026-27 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 2026-27 Budget of
the Wichita Falls Economic Development Corporation are hereby approved.
PASSED AND APPROVED this the 15th day of September 2026.
MAYOR
ATTEST:
City Clerk
Wichita Falls Economic Development Corporation Jul F�(r
Financial Summary """'
Current as of August 12,2026 FY 2025 FY 2026 FY 20
Budget YTD Actual Budget YTD Actual Proposed Budget
Beginning Fund Balance(10/1) $ 22,260,338 $ 24,806,355 $ 21,678,733 $ 21,678,733 $ 24,700,000 A
REVENUES
Sales Taxes 5,128,610 5,258,904 5,171,690 4,290,660 5,950,000
Reimbursements 200,000 123,291 - 3,818,813 -
Interest 744,175 1,018,403 851,526 864,928 1,000,000
Contributions-3111 Midwestern Pkwy(4B Loan) 3,500,000 - 3,500,000 3,500,000 -
Other Financing Sources-3111 Midwestern Pkwy(Bank Loan) 19,000,000 - 19,000,000 18,000,000 -
Business Park Sale Proceeds - - 14,843,934 -
Total Revenues $ 28,572,785 $ 6,400,599 $ 28,523,216 $ 45,318,334 $ 6,950,000 B
EXPENDITURES
Annual Programs
Professional Fees 30,000 5,178 30,000 18,932 30,000
Forward WF:Economic Development - - 2,359,000 2,001,680 2,045,000 *
Sheppard Military Affairs Committee 160,000 160,000 160,000 80,000 -
i.d.e.a Wichita Falls 50,000 50,000 50,000 50,000 50,000 *
Business Park Maintenance&Utilities 122,500 213,837 158,433 165,049 168,060
3111 Midwestern Parkway Utilities - - - 362,878 100,000
City Administrative Expense 80,000 80,000 84,000 - 87,000
WF Regional Airport Facilities Bond Payment(2033) 140,000 140,000 140,000 - 140,000
Business Park Bond Payment Enc.(2050) 517,800 515,600 518,200 - 515,400
Directors and Officers Insurance 10,000 9,009 10,000 8,722 10,000
Travel Expenses/Education Registration 250 18 250 - 500
Annual Programs Total $ 1,110,550 $ 1,173,641 $ 3,509,883 $ 2,687,262 $ 3,145,960 C
Open Projects(1) Orig.Award
Panda Biotech(8/26) 3,000,000 2,620,000 815,000 1,805,000 188,000 1,617,000
Land O'Lakes(2023) 1,248,000 201,974 8,000 193,974 - 193,974
Westlake Chemical(2026) 1,175,000 1,175,000 - 1,175,000 - 1,175,000
SAFB Strobe Light Repair 500,000 500,000 - 500,000 - 500,000
Sealed Air Corporation Expansion 1,000,000 3,000,000 1,500,000 1,500,000 - 1,500,000
NUCO Controls,LLC 1,175,000 1,175,000 - 1,175,000 500,000 675,000
Interest Expense-3111 Midwestern Parkway - 279,825 -
South Wenonah Extension 350,000 - 350,000 350,000
WPT Power Corporation 550,000 - 550,000 550,000
University Town Center Master Planning 700,000 - 700,000 403,433 296,567
Aerospace N3xt LLC 300,000 - 300,000 200,000 100,000
Wichita Falls Manufacturing 128,000 128,000 128,000
Open Projects Total $ 11,176,000 $ 8,671,974 $ 2,323,000 $ 8,376,974 $ 1,571,258 $ 7,085,541 D
Closed Projects
Chamber:Employee Recruitment 50,000 50,000 - -
Howmet Phase 2(6/25) 57,463 57,463 - - -
Tryer Processing(3/25) 150,000 90,000 - - -
Regional Airport Hangar Modifications 118,200 46,666 - - -
Sheppard AFB Airfield Projects and Equip. 133,979 133,979 133,979 - -
Business Park Mineral Rights 1,000,000 1,000,000 475,000 - -
Compass Container Works 1,500,000 1,500,000 - - -
Clayton Homes(12/24) 1,734,700 1,734,700 - - -
Business Park Mineral Rights 1,000,000 1,000,000 745,000 - -
Aviation Business Park Due Diligence 55,850 55,850 55,850 - -
Regional Airport Master Plan(10%match) 76,000 76,000 76,000 -
Chamber:Redevelopment Project 500,000 500,000 500,000 - -
Wichita Falls Chamber 122,500 122,500 122,500 - -
Chamber:Economic Development $ 1,464,000 1,464,000 1,486,000 - -
Downtown WF Development 133,000 133,000 99,750 - -
Purchase-3111 Midwestern Parkway 26,750,000 29,000,000 2,250,000 26,750,000 25,266,659
Repayment of 4B Loan 3,500,000 3,500,000 3,500,000
MSU Military Education Center 1,000,000 1,000,000 - 1,000,000 1,000,000
Forward Wichita Falls(Mall Management) 300,000 300,000 - 300,000 300,000
Delta TThermal(11/25) 435,000 322,500 37,500 285,000 - -
Closed Projects Total $ 46,243,767 $ 38,586,658 $ 6,031,579 $ 31,835,000 $ 30,066,659 $ - E
Wichita Falls Economic Development Corporation J�lck F)(r
Financial Summary
Current as of August 12,2026 FY 2025 FY 2026 FY 2027
Budget YTD Actual Budget YTD Actual Proposed Budget
Total Expenditures $ 48,369,182 $ 9,528,220 $ 43,721,857 $ 34,325,179 $ 10,231,501 F
Revenues Less Expenditures $ (19,796,397) $ (3,127,622) $ (15,198,641) $ 10,993,156 $ (3,281,501) G
Less Encumbrance for Open Projects (16,151,026) 7,085,541 - H
Less Encumbrance for Budgeted Annual Programs(not yet spent) 822,621 - I
Unrestricted Fund Balance $ 2,463,941 $ 37,829,759 $ 6,480,092 $ 24,763,726 $ 21,554,040 J
(1)Date financial commitment ends.Performance end date may vary.
*-Placeholder budgets until amounts are proposed
A-Beginning Fund Balance as of October 1
B-Total of all Current Revenues received to date
C-Total of Approved Annual Project Expenses completed to date
D-Total of Approved Project Expenses completed to date
E-Total of Approved Completed Project Expenses
F-Sum of all expenses incurred to date(C+D+E)
G-Current Revenues less Total Expenditures(B-F)
H-Remaining Balance of Open Projects
1-Budgeted Annual Programs not yet spent
-Beginning Fund Balance plus Revenues,less Total Expenditures,less Open Projects,less Annual Projects(A+G-H-I)