HomeMy WebLinkAboutColleyville Economic Development Corporation (CEDC) Resolutions (Resolution R-18-147)-08/28/2018RESOLUTION R-18-147
A RESOLUTION ADOPTING THE ECONOMIC DEVELOPMENT CAPITAL
IMPROVEMENT PROGRAM (EDCIP) FOR FISCAL YEARS 2019-2023
WHEREAS, the bylaws of the Colleyville Economic Development Corporation
require that an Economic Development Capital Improvement
Program (EDCIP) be developed, setting forth long and short-
term goals that address the needs of the City within the financial
constraints of revenues available to the Corporation; and
WHEREAS, the EDCIP shall identify projects to be undertaken by the
Corporation and the expected cost of the implementation.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION:
Sec. 1. THAT the Economic Development Capital Improvement Program
of the Colleyville Economic Development Corporation (Exhibit A)
is hereby adopted.
Sec. 2. THAT once approved, the EDCIP will be forwarded to the City
Council for their subsequent approval.
Sec. 3. THAT this Resolution shall become effective on the date of
passage.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF 6 AYES, 0 NAYS, AND 0 ABSTENTIONS ON THIS
28TH DAY OF AUGUST 2018.
President George Dodson Aye Vice Pres. Richard Newton Aye
Director Tammy Nakamura Aye Director Bobby Lindamood Aye
Director Ralph Hunkins Aye Director John Terhoeve Aye
Director Mark Slosson Absent
ATTEST:
4044 1�1r -
Christine Loven, TRMC
Secretary
COLLEYVILLE ECONOMIC
DEVELOPMENT CORPORATION
eor Dodson
President
COLLEYVILLE ECONOMIC DEVELOPMENT CORPORATION
FY 2019 BUDGET
Budget
YE Prat.
Proposed
FISCAL YEAR
2018
2018
2019
BEGINNING FUND BALANCE
$4,105,189
$4,221,531
$3,752,384
REVENUES:
PROJECTED 1/2 CENT SALES TAX REVENUE
$1,850,000
$1,870,000
$1,907,400
INTEREST INCOME
$9,090
$9,181
$9,273
TOTAL REVENUE
$1,859,090
$1,879,181
$1,916,673
EXPENDITURES:
ADMINISTRATIVE:
$2,000
$2,000
$2,000
DEBT SERVICE
$594,704
$594,704
$602,176
PARKS:
WATER / WASTEWATER- MC PHERSON PARK
$5,150
$5,305
$5,464
TECHNOLOGY - HARDWARE REPLACEMENT
$0
$0
$6,800
LIBRARY:
PERSONNEL
$288,713
$288,713
$380,592
OPERATIONS
$6,456
$6,456
$6,586
TECHNOLOGY - SOFTWARE & MAINTENANCE CONTRACTS
$19,306
$19,306
$19,692
TECHNOLOGY - HARDWARE REPLACEMENT
$11,800
$11,800
$5,450
SENIOR CENTER:
PERSONNEL
$78,230
$78,230
$88,895
OPERATIONS
$500
$500
$500
TECHNOLOGY- HARDWARE REPLACEMENT
$8,000
$8,000
$1,550
COLLEYVILLE CENTER:
OPERATIONS
$2,000
$2,000
$2,000
TECHNOLOGY- SOFTWARE & MAINTENANCE CONTRACTS
$6,960
$6,960
$7,099
TECHNOLOGY - HARDWARE REPLACEMENT
$8,800
$8,800
$1,200
PROMOTIONAL:
SPECIAL EVENTS
$92,000
$92,000
$112,000
ECONOMIC DEVELOPMENT PROMOTIONAL
$39,000
$39,000
$25,000
PERSONNEL -COMMUNICATIONS
$53,035
$53,03S
$53,666
TOTAL OPERATING EXPENDITURES
$1,216,654
$1,216,808
$1,320,669
EXCESS REVENUES OVER EXPENDITURES
$642,436
$662,373
$596,003
CAPITAL:
COLLEYVILLE CENTER -
FACILITY UPDATES AND REPLACEMENTS
$0
$33,000
$64,679
REPLACEMENT OF PALLADIUM WINDOWS & PATIO
$0
$0
$280,000
PLEASANT RUN TRAIL CONSTRUCTION & PARK IMPROVEMENTS
$300,000
$300,000
$0
PARKS MASTER PLAN UPDATE
$45,000
$45,000
$0
LD LOCKETT PARK DRAINAGE IMPROVEMENTS
$130,000
$55,000
$0
KIMZEY PARK POND DREDGING
$170,000
$388,520
$0
WEBB HOUSE REPAIRS
$100,000
$10,000
$265,000
LIBRARY RENOVATIONS
$459,470
$300,000
$315,516
FUTURE PROJECTS /IMPLEMENTATION OF PARKS MASTER PLAN
$300,000
$0
$500,000
TOTAL CAPITAL EXPENDITURES
$1,504,470
$1,131,520
$1,425,195
TOTAL EXPENDITURES (OPERATING & CAPITAL)
$2,721,124
$2,348,328
$2,745,864
USE OF FUND BALANCE ON CAPITAL PROJECTS/(ADDITIONS TO FUND BALANCE)
$862,034
$469,147
$829,192
ENDING FUND BALANCE
$3,243,155
$3,752,384
$2,923,192
RESERVE FORA TIMES BOND COVERAGE RATIO
$237,882
$237,882
$240,870.40
AVAILABLE ENDING FUND BALANCE
$3,005,274
$3,514,502
$2,682,322