Res 100-2013 9/17/2013
RESOLUTION NO. 100-2013
Resolution Approving The Programs And Expenditures Of The
Wichita Falls Economic Development Corporation Budget For Fiscal
Year 2013-2014
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 10, 2013, the Wichita Falls Economic Development
Corporation’s Board of Directors approved the attached 2013-2014 Budget; and
WHEREAS, the City Council finds the expenditures designated below for
“administration” are for the administration of projects intended to create primary jobs
pursuant to Tex. Local Gov’t. Code § 501.002, and the expenditures designated below
as “promotional” are promotional expenditures that advertise and publicize the City of
Wichita Falls for the purpose of developing new and expanded business enterprises.
This resolution finds that the funds budgeted for the:
Chamber Personnel expenditures in the Economic Development Services
Contract with the Chamber of Commerce and Industry are $316,539.82
administration and $85,355.18 promotional
Regional Marketing Taskforce expenditures in the Economic Development
Services Contract with the Chamber of Commerce and Industry are $40,000
administration and $60,000 promotional
Sheppard Military Affairs Committee, Inc. (SMAC) Contract are 100%
administration and 0% promotional
Business Plan Contest (Lalani Center) of Midwestern State University are
100% administration and 0% promotional
Downtown WF Development, Inc. are 100% promotional
Community Wide Promotional Expenditures are 100% promotional
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF W ICHITA FALLS, TEXAS, THAT:
The programs and expenditures described in the attached Fiscal Year 2013-
2014 Budget of the Wichita Falls Economic Development Corporation (WFEDC) are
hereby approved.
PASSED AND APPROVED this the 17th day of September, 2013.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk
PROPOSED FY 2013-2014 WFEDC (4A) Budget