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Res 085-2011 9/20/2011 RESOLUTION NO. _85-2011_ Resolution Approving The Programs And Expenditures Of The Wichita Falls 4B Sales Tax Corporation Budget For Fiscal Year 2011- 2012 WHEREAS, TLG’C §501.073(a) provides “The corporation's EXAS OCAL OVT ODE authorizing unit will approve all programs and expenditures of a corporation and annually review any financial statements of the corporation”; and WHEREAS, on August 29, 2011, the Wichita Falls 4B Sales Tax Corporation’s Board of Directors approved the attached 2011-2012 Budget. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WICHITA FALLS, TEXAS, THAT: Fiscal Year 2011-2012 Budget The expenditures and programs of the attached of the Wichita Falls 4B Sales Tax Corporation are hereby approved. th PASSED AND APPROVED this the 20 day of September, 2011. ______________________________ M A Y O R ATTEST: ____________________ City Clerk 4B SALES TAX FY 2011-2012 ANNUAL BUDGET 8/29/2011AdoptedAdoptedYTDProjectedPROPOSED FY09FY10FY10FY11FY11FY11FY12 ActualBudgetActualBudgetActualActualBudget Revenue Sales Taxes$ 3,408,651$ 3,551,509 $ 3,338,970 $ 3,214,125 $ 2,639,824 $ 3,528,670 $ 3,528,670 Interest$ 52,709$ 22,800 $ 9,302 $ 7,500 $ 4,378 $ 7,500 $ 7,500 Reimbursement (TIF #2)$ 241,072$ 30,000 $ 255,002 $ 275,000 $ 319,612 $ 329,200 Total Revenues $ 3,702,432$ 3,604,309 $ 3,603,274 $ 3,496,625 $ 2,644,202 $ 3,855,782 $ 3,865,370 COMPLETED PROJECTS Enhanced Gym Space$ 200,239 WFISD Gym Addl Expense$ 53,543 $ 53,543 Wichita County Heritage Society$ 30,000 Wichita Falls Little League$ 60,000 Wichita Theatre$ 40,000 Community Wide Marketing$ 60,000 $ 60,000 River Bend Nature Works #3$ 259,190$ 10,617 $ 30,193 $ 30,193 Mobile Data Terminals$ 1,727,778$ 1,648,255 $ - $ - Trail Ext - Rhea/Lake Wichita Dam$ 175,000 $ 175,000 $ (15,846) $ (15,846) Kemp Center for the Arts$ 275,000 $ 275,000 $ 275,000 Castaway Cove WP Improvmts$ 325,000 $ 104,151 $ 220,432 $ 220,432 Dog Park -- Lake Wichita Park$ 10,000 $ 9,309 $ 9,309 OPEN PROJECTS Debt Service -- Projects Public Safety Projects$ 512,315$ 510,915 $ 510,915 $ 514,215 $ 54,608 $ 514,215 $ 516,660 Trail/Land/Firing Range$ 515,088 $ 515,088 $ 491,952 $ 491,952 $ 491,952 $ 490,246 TIF #2 / Maplewood (2006A Ser)$ 599,803$ 231,199 $ 231,199 $ 231,199 $ 82,477 $ 231,199 $ 231,919 Golf Renovation (2006B Series)$ 365,828 $ 365,828 $ 368,548 $ 109,273 $ 368,548 $ 365,748 Castaway Cove Water Park$ 489,889 $ 384,469 $ 489,889 $ 390,660 TIF #2 / Rhea Road $ 109,129 Capital Equipmt Maint / Imprvmts Radio Maintenance (73238)$ 127,455$ 127,500 $ 127,455 $ 127,500 $ 128,241 $ 128,241 $ 127,500 CAD/Records Maint (73239)$ 130,975$ 135,000 $ 132,883 $ 135,000 $ 110,669 $ 135,000 $ 110,000 MDT Software Maint (71110)$ 142,566 $ 97,456 $ 234,468 $ 92,365 $ 234,468 $ 154,468 Street Improvements$ 400,000 $ 400,000 $ 400,000 $ 400,000 Outdoor Warning Siren Replacmt$ 141,200 $ 137,357 $ 140,000 $ 140,000 $ 160,000 Administration Charges$ 10,000 $ 10,000 $ 10,000 $ 10,000 $ 10,000 Prior Years Capital Projects Backdoor Theatre$ 30,000$ 14,603 $ 30,149 $ 45,397 South Weeks Park Pond Rcnstrctn.$ 974$ 432,684$ 166,342 $ 166,342 MPEC Repair/Replacemt Items$ 1,147,100 $ 1,147,100 $ 200,000 $ 200,000 $ 200,000 Downtown Intersection Improvmts$ 1,000,000 $ 1,000,000 $ 1,000,000 Lake Wichita Improvements$ 85,000 $ 487 $ 18,993 Wichita Theatre Renovation$ 46,000 $ 32,291 $ 46,000 Wild Bird Rescue Viewing Area$ 20,000 Kell House Renovation$ 40,000 FY 12 Capital Projects District 5 Park Improvements$ 318,000 Total Expenditures$ 3,718,729$ 5,345,939$ 5,774,134$ 3,412,771$ 3,802,411 $ 5,139,332$ 3,384,330 Revenues Less Expenses$ (16,297) $ (1,741,630) $ (2,170,860) $ 83,854 $(1,158,209) $ (1,283,550) $ 481,040 Beginning Cash Balance$ 5,405,021$ 5,388,724 $ 5,388,724 $ 4,235,218 $ 3,217,864 $ 3,217,864 $ 1,934,314 Ending Cash Balance$ 5,388,724$ 3,647,094 $ 3,217,864 $ 4,319,072 $ 2,059,655 $ 1,934,314 $ 2,415,354 Reserved For Encumbrances$ 2,841,397$ 2,841,397 $ 1,959,896 $ 2,941,294 $ 1,462,928 $ 126,007 $ 126,007 Unreserved Fund Balance$ 2,547,327$ 805,697 $ 1,257,968 $ 1,377,778 $ 596,727 $ 1,808,307 $ 2,289,347