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Res 106-2026 4B FY2027 Budget 09/15/2026
Resolution No. 106-2026 Resolution approving the Wichita Falls Type B Sales Tax 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 September 3, 2026, the Wichita Falls Type B Sales Tax Corporation's Board of Directors conducted a public hearing on and approved up to $375,000 to Forward Wichita Falls for downtown economic development services ($225,000), Sheppard AFB advocacy ($75,000), and retail attraction ($75,000) to be included in the Corporation's fiscal year 2026-27 budget; and, WHEREAS, on September 3, 2026, the Wichita Falls Type B Sales Tax 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 Type B Sales Tax Corporation, and the expenditure not to exceed $375,000 to Forward Wichita Falls as part of the fiscal year 2026-27 budget, are hereby approved. PASSED AND APPROVED this the 15th day of September, 2026. MAYOR ATTEST: lqa,u,c,-- City Clerk [L- City of Wichita Falls,TX ,1.•,t,+7 : 413 Sales Tax Corporation v Financial Summary Current as of August 25,2026 FY 2025 .FY26 FY 27 Revised Budget YTO Actual Revised +rTD Actual Proposed Budget Budget Beginnings=4.n 1 Balance(10f1) $ 14,219,342 $ 14219,342 $ 12,778,366 5 12,778,366 $ 7,9'96,225 A REVENUES 5aesTa•:s S 5,128,610 $ 5,258,405 5 5,171,690 $ 4,290,660 $ 5,950,000 i-tere:t 917,000 7942,379 554,117 .50,269 550,030 Ren•)4.•:ar•_lr:T1==2: 359,341 - - - Rem74.':_me'r: 51_-F-1:•..es-eri,1 - 3,550,203 - Tata Revenues 6,404,951 6,049,284 5,725,807 8,240,929 6,500,000 B EXPENDITI,RES Annual Programs Debt Si-,:e-P c ect_ TrainLar,❑;F --g Ra-=a:Raf 231E-2029r Series20149 455,000 - 454,500 458,300 Castaway Co'e'•'<ate P..._C_C-2C_3,Se•es 2021Taxable 102,141 102,140 - - - T1F 02 1 Rhos=c s: :_C_1-2031, e°es 2021 Tax Exempt 207,894 184,803 208,200 206,600 .":=lv'u-i:i:alAi•:;-: ,,13-2C?3: 140,000 140,000 140,000 140,000 -FN'2 Maolev,00d 12o15-2326j 5ar es 2015A 209,341 209,340 208,845 - - r=of Re1a-:°atio,-';2C_5-2C26I Se ie>20151 325,762 315,381 320,788 - - lu1PcC Confererse Canto' 1232 2-2 05a1 947,734 947,734 947,699 946,835 Justice Center,Falls,0 rcle Trai (2027-20471 1,400,000 Downtown Improvement Grants 250,000 87,333 250,000 30.000 250,000 * CVB Incentive Funding 35,0 0 35,000 35,000 25,000 35,000 Professional Fees&Advertising 10,i030 3,750 10,000 649 10,000 Directors&Officers Insurance 5,0CD 6 013 6.50D 6 C13 6,500 Administration Charges 31,330 31 503 33,D3C 34.i030 Annual Programs Total 2,719,372 2,062.992 2,614,532 91.662 3,487,235 C Original Open Projects P,ws rd Circle Trail Match(Camp Fire to Lucy Park/ 7E3.62B 742716 95_ 7 EL7.522 331.5 9 293,560 SAFB-BASH 399CO3 298,500 99.34`- 230,1EE - 230,5E SAFB Strobe Light Repair Project 500,000 - 530.030 - 500,i730 City National Building Renovations 104,100 - 104,100 - 104.100 Chamber-Retail Attraction Program 82,500 Si 5i33 42,000 - 42,030 Chamber-Military Liaison Program 40,000 43.003 36,000 32,250 82,160 Backdoor Theatre Sign 13 500 13,50D - 13,500 The Falls Renovation 895;000 295,030 415,968 475,032 Hamilton Park Tennis Center 1,500,000 1.330,000 - 1,500,000 Potencia Projects-Artwalk 202.90,1 152,1743 50,726 Miniature Wonders 350,000 350,000 OG Cellars LLC 24,000 24,000 Outdoor Warning Systems(20%) 366,806 366,806 Open Project To 3,567,188 1,767,816 316,421 4,982,005 955,974 4,401,140 D City of Wichita Falls,TX 6,,, 4B Sales Tax Corporation Financial Summary Current as of August 25,2026 FY 2025 iFY26 FY 27 Revised Proposed Fie viz eo 3L.dget YTD Actual WO Actual Budget Budget Beginning Fund Balance(WOi1} 5 14.219.342 5 11.219,342 $ 12,778,366 5 12,778,366 5 7,996,225 A Closed Projects Res:3fing the Past[;60471-j 22,3E3 22,350 - - - - Res:c'ing the Past.:6037t1) 49,000 49,000 - - - - D6s:r.ct 5 Park Improvements 318,000 26,005 - - - - Chelsea Plaza(804 Lamar} 138,991 138.991 - - - - 100 Cartd Fwy(Land Acquisition) 835,000 S34,937 743,310 - - - Riverbend Nature Center 210,000 _L3.0.00 210,000 - - - Hotel by the Falls Demo '8_.3O0 387,850 - - - City of WE 2nd Turf Project 2,_00,:'v0 2,100,000 - - - Ho for n H Lin dredStart Line Arc. 4.300 4,000 - - - YA1C AgL,atc Center 1,'6'.)O0 906,567 453,333 453,333 - 7131 c a-a_LC 250,000 83,334 - 53.334 83 384 - The=eI£','.a:e'study _29,308 26,040 103..4'32 1C3, 68 - Sike.:Se-:er-c:l-i:-0n 3, y.;.300 - 3,30C.03C 3..5.33..003 - Potar:aF'ci :::-L;c;fc'0 c 9.030 9CC0 - MS'S 57,jc e-t 0,ic:e::5:l-'i i:ar;Ec,J;a-c 1,000,001) - 1.C'OC.C.3C -00]3,003 - HH--,;aeCnTah-gl'.t''ro,e.:r. _'70C Li 203 Bicycle Lanes 100,000 23,700 - 23..73: :67E3 - SAFB Consultant(2026} 219,000 147,300 77 303 7C,030 73 003 - Sports Complex Improvements 197,000 78,4LS - 78,4'8 7S=4S - Forward-Downtown Marketing&Development - - 200.03C 200 CO - Closed Projects Total 5,882,566 10,088,273 4,454.867 5,533,483 5,526.533 - E Total Expenditures 14,575,460 6,833.880 13,030,020 6.574.169 7,491,675 F Revenues Less Expenditures [9,170,509: 1755-5561 I 17,30,',2_3: 1.666,739 i931,675'; G Less Open Projects _,-3'795 3,926.030 H Less Budgeted Annual Programs(not yetspentF 656.380 2,522,873 I Unrestricted Fund Balance $ 6,048,833 $ 11.,326,571 5 5,474,254 $ 7,996,225 $ 4,508,990 1 A-Beginning Fund Eofonce as of October 1 8-Toro,'cfuiY Current Revenues receves tc a^.re C-Tor2''4f .'pp''"D,wed Annou'PT4'c .'to'nn'w comelettno'.0 date 0-Tutu..'of 4pprowed"c"e r Es ne ses coclu'0r04 r0 oars e-Total of Approved Cc,rnolereid Project Expenses lc-sun,of all expenses hair red to dote 1C-D#tj 6-Current Revenues less Tatar Expenditures(8-F) Pi-Remaining Balance of Open Projects f-Budgeted Annual Programs'not Yet spent 2-Beginning Fund Balance plus Revenues,less Total Expenditures,less Open Projects,le s Annual Projects jA+Crff-fj City of Wichita Falls,TX 1Afic4 76. 4B Sales Tax Corporation Financial Summary Current as of August 25,2026 FY 2025 FY26 FY 27 Revised Budget YTD Actual Revised YTD Actual Proposed Budget Budget Beginning Fund Balance(10/1) $ 14,219,342 $ 14,219,342 $ 12,778,366 $ 12,778,366 $ 7,996,225 A REVENUES Sales Taxes $ 5,128,610 $ 5,258,905 $ 5,171,690 $ 4,290,660 $ 5,950,000 Interest 917,000 790,379 554,117 450,269 550,000 Reimbursement(TIF#2) 359,341 - - - Reimbursements(3111 Midwestern) - 3,500,000 Total Revenues 6,404,951 6,049,284 5,725,807 8,240,929 6,500,000 B EXPENDITURES Annual Programs Debt Service-Projects Trail/Land/Firing Range(Ref.2018-2029)Series 2018E 455,000 - 454,500 458,300 Castaway Cove Water Pk(2010-2025)Series 2021 Taxable 102,141 102,140 - - - TIF#2/Rhea Road(2011-2031)Series 2021 Tax Exempt 207,894 184,800 208,200 206,600 WF Municipal Airport(2013-2033) 140,000 140,000 140,000 140,000 TIF#2 Maplewood(2015-2026)Series 2015A 209,341 209,340 208,845 - - Golf Renovation(2015-2026)Series 2015E 325,762 315,381 320,788 - - MPEC Conference Center (2022-2050) 947,734 947,734 947,699 946,835 Justice Center,Falls,Circle Trail(2027-2047) 1,400,000 Downtown Improvement Grants 250,000 87,333 250,000 50,000 250,000 CVB Incentive Funding 35,000 35,000 35,000 35,000 35,000 Forward Wichita Falls 375,000 Professional Fees&Advertising 10,000 3,750 10,000 649 10,000 Directors&Officers Insurance 5,000 6,013 6,500 6,013 6,500 Administration Charges 31,500 31,500 33,000 34,000 Annual Programs Total 2,719,372 2,062,992 2,614,532 91,662 3,862,235 C Original Open Projects Award Circle Trail Match(Camp Fire to Lucy Park) 760,688 742,716 95,177 647,538 351,579 295,960 SAFB-BASH 398,000 298,500 98,344 200,156 - 200,156 SAFB Strobe Light Repair Project 500,000 - 500,000 - 500,000 City National Building Renovations 104,100 - 104,100 - 104,100 Chamber-Retail Attraction Program 82,500 82,500 42,000 - - Chamber-Military Liaison Program 40,000 40,000 36,000 32,250 - Backdoor Theatre Sign 13,500 13,500 - 13,500 The Falls Renovation 895,000 895,000 419,968 475,032 Hamilton Park Tennis Center 1,500,000 1,500,000 - 1,500,000 Potencia Projects-Artwalk 202,904 152,178 50,726 Miniature Wonders 350,000 350,000 OG Cellars LLC 24,000 24,000 Outdoor Warning Systems(20%) 366,806 366,806 Open Project Total 3,567,188 1,767,816 316,021 4,882,005 955,974 3,880,280 D City of Wichita Falls,TX \ A)icki4 /(S 4B Sales Tax Corporation �S Financial Summary Current as of August 25,2026 FY 2025 FY26 FY 27 Revised Budget YTD Actual Revised YTD Actual Proposed Budget Budget Beginning Fund Balance(10/1) $ 14,219,342 $ 14,219,342 $ 12,778,366 $ 12,778,366 $ 7,996,225 A 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 - - - Hotter'n Hundred Start Line Arch 4,000 4,000 - - - YMCA Aquatic Center 1,360,000 906,667 453,333 453,333 - 713 Indiana LLC 250,000 83,334 - 83,334 83,334 - The Falls Water Study 129,508 26,040 103,468 103,468 - Sikes Senter Acquisition 3,500,000 - 3,500,000 3,500,000 - Potencia Projects-Loco for Cinco 9,000 9,000 - MSU Student Success&Military Education 1,000,000 - 1,000,000 1,000,000 - HHH-WeeChiTah Light Project 12,200 12,200 - Bicycle Lanes 100,000 23,700 - 23,700 16,750 - SAFB Consultant(2026) 219,000 147,000 77,000 70,000 70,000 - Sports Complex Improvements 197,000 78,448 - 78,448 78,448 - Forward-Downtown Marketing&Development - - 200,000 200,000 - Closed Projects Total 5,882,566 10,088,273 4,454,867 5,533,483 5,526,533 - E Total Expenditures 14,575,460 6,833,880 13,030,020 6,574,169 7,742,515 F Revenues Less Expenditures (8,170,509) (784,596) (7,304,213) 1,666,759 (1,242,515) G Less Open Projects 1,451,795 3,926,030 H Less Budgeted Annual Programs(not yet spent) 656,380 2,522,870 I Unrestricted Fund Balance $ 6,048,833 $ 11,326,571 $ 5,474,154 $ 7,996,225 $ 4,133,990 J 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 I-Beginning Fund Balance plus Revenues,less Total Expenditures,less Open Projects,less Annual Projects(A+G-H-1)