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PEDC FY 2020-2021 Budget
PROSPER ECONOMIC DEVELOPMENT CORPORATION FY 2020-2021 Annual Budget Proposed Presented to EDC Board 08-19-2020 Final Approved/Amended Actual to Date PROPOSED FY 2018-2019 FY 2019-2020 FY 2019-2020 FY 2020-2021 REVENUES 800 4120 65 00 Sales Tax 2,455,008$ 2,750,000$ 2,546,755$ 3,129,614$ 800 4610 65 00 Interest on Investments 50,000$ 100,000$ 85,484$ 39,000$ 800 4910 65 00 Other Revenue -$ -$ 134$ Total Revenues 2,505,008$ 2,850,000$ 2,632,373$ 3,168,614$ EXPENSES Personnel Services - Salary 800 5110 65 00 Salaries & Wages 385,562$ 384,092$ 281,279$ 349,850$ 800 5115 65 00 Salaries - Overtime -$ -$ 800 5140 65 00 Salaries - Longevity Pay 275$ 320$ 320$ 500$ 800 5141 65 00 Salary Incentive 20,000$ 25,000$ -$ 40,000$ 800 5142 65 00 Car Allowance 14,400$ 14,400$ 13,000$ 15,600$ 800 5143 65 00 Cell Phone Allowance 2,580$ 2,880$ 2,400$ 2,880$ 800 0000 65 00 Temporary Salaries -$ -$ Total Salary 422,817$ 426,692$ 296,999$ 408,830$ Personnel Services - Benefit 800 5145 65 00 Social Security Expense 24,335$ 24,905$ 17,754$ 22,868$ 800 5150 65 00 Medicare Expense 5,692$ 5,825$ 4,152$ 5,349$ 800 5155 65 00 Unemployment (SUTA)486$ 486$ 441$ 486$ 800 5160 65 00 Health Insurance 26,378$ 35,381$ 16,034$ 19,296$ 800 5165 65 00 Dental Insurance 1,451$ 1,398$ 741$ 872$ 800 5170 65 00 Life Insurance 517$ 517$ 124$ 338$ 800 5175 65 00 Liability (TML) Worker's Comp 746$ 764$ 735$ 996$ 800 5176 65 00 TML Prop. & Liab. Insurance -$ -$ 800 5180 65 00 TMRS-Expense 53,182$ 54,430$ 39,964$ 50,678$ 800 5185 65 00 Long Term/Short Term Disability 715$ 730$ 485$ 665$ 800 5186 65 00 WELLE-Wellness Prog Reimb-Empl 600$ 1,200$ 500$ 600$ Total Benefits 114,102$ 125,636$ 80,930$ 102,148$ Operating, Land & Incentive Expenses 800 5189 65 00 Admin. Fees to Town 15,000$ 15,000$ 13,750$ 15,000$ 800 5190 65 00 Contract Labor 50,000$ 50,000$ -$ 50,000$ 800 5191 65 00 Hiring Cost -$ -$ -$ -$ 800 5210 65 00 Office Supplies 2,500$ 2,500$ 2,319$ 2,500$ 800 5212 65 00 Building Supplies 500$ 800$ 800$ 800 5220 65 00 Office Equip & Furniture 15,000$ 15,000$ 3,500$ 15,000$ 800 5230 65 00 Dues & Subscriptions 40,000$ 40,000$ 23,771$ 40,000$ 800 5240 65 00 Postage & Freight 1,000$ 1,000$ 763$ 1,000$ 800 5265 65 00 Promotional Expense 80,000$ 85,000$ 12,412$ 85,000$ 800 5280 65 00 Printing and Reproduction 5,000$ 5,000$ 831$ 5,000$ 800 5305 65 00 Chapter 380 Program Grant 504,515$ 554,570$ 455,168$ 470,972$ 800 5310 65 00 Rental/Office Lease 65,500$ 60,000$ 47,585$ 60,000$ 800 5330 65 00 Copier Expense 5,500$ 5,500$ 2,749$ 5,500$ 800 5340 65 00 Building Repairs 500$ 500$ -$ 500$ 800 5410 65 00 Professional Services 225,000$ 225,000$ 50,739$ 225,000$ 800 5412 65 00 Audit Fees 2,375$ 2,494$ 2,375$ 2,494$ 800 5414 65 00 Appraisal/Tax Fees -$ -$ -$ 800 5418 65 00 IT Fees -$ -$ -$ -$ 800 5430 65 00 Legal Fees 25,000$ 20,000$ 3,142$ 20,000$ 800 5480 65 00 Contracted Services -$ -$ -$ -$ 800 5520 65 00 Telephones-Cable 4,200$ -$ 241$ -$ 800 5521 65 00 Cell Phone Expense -$ -$ -$ -$ 800 5523 65 00 Water -$ -$ -$ -$ 800 5524 65 00 Gas - Office -$ -$ -$ -$ 800 5525 65 00 Electricity - Office -$ -$ -$ -$ 800 5526 65 00 Mobile Data Network 1,000$ 1,000$ 608$ 1,000$ 800 5530 65 00 Travel/Lodging/Meals Expense 30,000$ 30,000$ 2,690$ 30,000$ 800 5531 65 00 Prospect Mtgs/Business Meals 10,000$ 10,000$ 3,584$ 10,000$ 800 5533 65 00 Mileage Expense 500$ 500$ 126$ 500$ 800 5536 65 00 Training/Seminars 15,000$ 15,000$ 713$ 15,000$ 800 6015 65 00 Project Incentives 10,000$ 100,000$ -$ 100,000$ 800 7100 65 0 Operating Transfer Out 8,715$ Total Expenses 1,108,090$ 1,238,864$ 635,781$ 1,155,266$ Total Operating Costs 1,645,009$ 1,791,192$ 1,013,710$ 1,666,244$ Net Income 859,999$ 1,058,808$ 1,618,664$ 1,502,370$ Website, Logo items, shirts, videos, stationary Hillco, Petty, Cleaning Svc., Board Photos, Maso contract, map frames, mowing