Res 135-2017 10/3/2017
Resolution No. _135-2017_
Resolution approving the programs and expenditures of the Wichita Falls
Economic Development Corporation Budget for Fiscal Year 2017-2018
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 21, 2017, the Wichita Falls Economic Development
Corporation’s Board of Directors approved the attached 2017-18 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 $601,716 administration and
$93,222 promotional;
Economic Development Marketing expenditures in the Economic Developmen t
Services Contract with the Chamber of Commerce and Industry are $285,000
administration and $40,000 promotional;
Sheppard Military Affairs Committee, Inc. (SMAC) Contract are $140,000
administration and $0 promotional;
Business Plan Contest (Lalani Cente r) of Midwestern State University are $0
administration and $30,000 promotional;
Downtown WF Development, Inc. are $0 administration and $100,000 promotional;
Choose Wichita Falls Campaign expenditures are $5,920 administration and
$53,271 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 2017-18 4A
WFEDC Budget of the Wichita Falls Economic Development Corporation (WFEDC) are
hereby approved.
PASSED AND APPROVED this the 3rd day of October, 2017.
______________________________
M A Y O R
ATTEST:
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City Clerk
Fiscal Year 2017-2018 4A WFEDC Budget