Res 109-2014 10/7/2014PAGE 1 OF 2 PAGES
AGENDA ITEM NO. 9.E
RESOLUTION NO. 109-2014
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation Budget for Fiscal Year
2014-2015
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 18, 2014, the Wichita Falls Economic Development
Corporation’s Board of Directors approv ed the attached 2014-2015 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;
and,
WHEREAS, this resolution finds that the funds budget ed for the:
Chamber Personnel expenditures in the Economic Development Services
Contract with the Chamber of Commerce and Industry are $325,220
administration and $80,522 promotional;
Regional Marketing Taskforce expenditures in the Economic Development
Services Contract with the Chamber of Commerce and Industry are $44,474
administration and $80,000 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 WICHITA FALLS, TEXAS, THAT:
The programs and expenditures described in the attached Fiscal Year 2014-
2015 4A WFEDC Budget of the Wichita Falls Economic Development Corporation
(WFEDC) are hereby approved.
PASSED AND APPROVED this the 7th day of October, 2014.
______________________________
M A Y O R
ATTEST:
____________________
City Clerk
PAGE 2 OF 2 PAGES
AGENDA ITEM NO. 9.E
Fiscal Year 2014-2015 4A WFEDC Budget