Res 134-2008 10/7/2008 RESOLUTION NO. �� �
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WICHITA
FALLS, TEXAS, APPROVING THE 2008-2009 BUDGET OF THE
WICHITA FALLS ECONOMIC DEVELOPMENT CORPORATION;
FINDING AND DETERMINING THAT THE MEETING AT WHICH THIS
RESOLUTION WAS PASSED WAS OPEN TO THE PUBLIC AS
REQUIRED BY LAW.
WHEREAS, The 4A Sales Tax Board met on September 10, 2008 to consider a
Budget for the 2008-2009 Fiscal Year.
WHEREAS, The 4A Board has approved and is recommending the attached
Budget for 2008-2009 Fiscal Year.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The attached 2008-2009 Fiscal Year Budget of the Wichita
Economic Development Corporation is hereby approved.
SECTION 2. It is hereby officially found and determined that the meeting at
which this resotution was passed was open to the public as required by law.
PASSED AND APPROVED this the 7 day of October, 2008.
MAYOR
ATTEST:
Clerk
�
4A Economic Development Corporation
Short Financial Statement
8.22,'08
FY06 FY 06 FY07 FY07 FY08 FYd8 FY09 •
Budaet Actual Budget Actual Budnet Actual Budget
Revenue
Sales Taxes 2,941 ,098 3,212,034 3,265,727 3,344,755 3,344,370 2,658,599 3,551 ,795 Oaen EnCUmbrances •
OtherRents 106,800 106,800 106,800 90,458 106,800 ProfessionalFees- $ 12,189
Reimbursements 31,734 31,734 27,615 BCIContract- $ 39,711
Interest 380,000 737,546 380,000 910,876 700,000 560,711 700,000 Regional Marketing- $ 28,215
Sale of Property 143,887 Regional Workforce Dev. -$ 75,000
Business Park Maint. - $ 86,424
Total Revenues 3,321 ,098 3_949 580 3.784261 4 362 431 18� 2 90 45�3 655 q 386 �10 ABB Control - $ 133,500
V.C. Machining School - $ 42,483
Completed Prolects Wichita P.T. - $ 23,000
Insurance 1,210 1,210 Texas Transland $ 15,000
Ad Valorem Tax 31,734 29,667 31,734 28,030 27,615 Affiliated Energy Products $ 23,130
PPG (10l12l04, 10/19/04} 1,109,934 Machining Solutions $ 409,500
Carter Copter 10,000 10,000 Business Park Marketing $ 40,000
Mesa Group 12,867 5,172 NEW Customer Service $ 592,686
Biggs & Matthews 15,501 Old Dominion $ 32,929
Phase 1 Business Park(10l12/04, 1,505,080 190,129 33,500 Business ParkUtilit. $ 84,594
B.P.DevelopmentConsultant 25,000 YTO $ 1,209,000
Excalibur Paint & Coatings (9/6/05, 66,500 Tryer $ 112,000
Wichita Clutch #2 (2/8/06. 2/21106} 105,000 105,000 Transit Buses $ 268.000
Texas Recreation 202,400 165,000 $ 3,227,361
ATCO Structures (12l19l05, 1,900,000 1,214,104 349,500
Open Prolects
Professional Fees (12/17/98, 30,000 9,591 30,000 11,274 30,000 17,811 30,000
BCI-Contract 135,000 135,000 152,000 152,001 156,354 1 16,643 163,980 0 oas»3 $ 7,625.86
Regional Marketing Taskforce 100,000 39,912 109,210 113,604 107,730 79,515 100,000
Regional Workforce Development 75,000 75,000
Business Park Maintenance 141,241 138,776 86,424 88,544
ABB Control (2l05/01 , 2l20/01)
SMAC (6/20105, 6/21/05) 50,000 50,000 50,000 50,000 50,000 100,000
Vernon College Machining School 243,000 70,412 130,105
WichitaPowerTrain 45,000 22,000
Texas Transland 91,000 76,000
Affiliated Energy Products 61,380 38,250
Machining Solutions 409,500
Business Park Marketing #2 40,000
NEW Customer Service 600,000 7,314
Old Dominion 80,833 47,904
Business Park Utilities 367,000 282,406
YTO 1,209,000
Tryer 112,000
Transit Buses 268,000
Total Expenditures 7� 0� 1 771 065 18�0 283 75_�� 1 250_874 �
Revenues Less Expenses 555 698 926A25 � 013 19B � 18� 948 1 B08 8?9 2� 3799_861
Beginning Cash Balance 15,999,259 15,999,259 16,925,284 " 16,925,284 19,107,432 � 19,107,432 21,310,213
Ending Cash Balance 6 5� 16 925284 18 938 480' 19_107 432 0 7� 21 310213 5_1�
Reserved For Encumbrances 3,618,121 � 5,458,268 5.458,268 2,083,364 2,083,364 3,227,361 3,227,361
Unreserved Fund Balance 1 � 93B 83B 11 467 01 B 13 480 �1 ? 17 0?4 OB8 18 B32 897 18 082 852 �1 88� 713
Nots: Shadesl CeIlsAre Llsed To Highllght ProJect Budgets For Ouick Reference