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PEDC FY 2018-2019 Budget
PROSPER ECONOMIC DEVELOPMENT CORPORATION FY 2018-2019 Annual Budget Presented to EDC Board 9/20/2018 Approved/Amended Actual to Date PROPOSED FY 2017-2018 FY 2017-2018 FY 2018-2019 REVENUES 800 4120 65 00 Sales Tax 2,047,473$ 1,739,760$ 2,455,008$ gross sales tax receipts 800 4610 65 00 Interest on Investments 36,000$ 45,696$ 50,000$ 800 4910 65 00 Other Revenue -$ -$ -$ Total Revenues 2,083,473$ 1,785,456$ 2,505,008$ EXPENSES Personnel Services - Salary 800 5110 65 00 Salaries & Wages 374,333$ 303,904$ 385,562$ 800 5115 65 00 Salaries - Overtime -$ 10$ -$ 800 5140 65 00 Salaries - Longevity Pay 85$ 70$ 275$ 800 5141 65 00 Salary Incentive 20,000$ -$ 20,000$ 800 5142 65 00 Car Allowance 14,400$ 12,000$ 14,400$ 800 5143 65 00 Cell Phone Allowance 2,580$ 1,250$ 2,580$ 800 0000 65 00 Temporary Salaries -$ -$ -$ Total Salary 411,398$ 317,234$ 422,817$ Personnel Services - Benefit 800 5145 65 00 Social Security Expense 24,044$ 18,567$ 24,335$ 800 5150 65 00 Medicare Expense 5,624$ 4,380$ 5,692$ 800 5155 65 00 Unemployment (SUTA)513$ 486$ 486$ 800 5160 65 00 Health Insurance 25,107$ 21,058$ 26,378$ 800 5165 65 00 Dental Insurance 1,382$ 1,151$ 1,451$ 800 5170 65 00 Life Insurance 517$ 210$ 517$ 800 5175 65 00 Liability (TML) Worker's Comp 388$ 601$ 746$ 800 5176 65 00 TML Prop. & Liab. Insurance -$ -$ -$ 800 5180 65 00 TMRS-Expense 54,137$ 42,726$ 53,182$ 800 5185 65 00 Long Term/Short Term Disability 712$ 550$ 715$ 800 5186 65 00 WELLE-Wellness Prog Reimb-Empl 600$ 274$ 600$ Total Benefits 113,024$ 90,004$ 114,102$ Operating, Land & Incentive Expenses 800 5189 65 00 Admin. Fees to Town 15,000$ 11,250$ 15,000$ 800 5190 65 00 Contract Labor -$ -$ 50,000$ 800 5191 65 00 Hiring Cost -$ -$ -$ 800 5210 65 00 Office Supplies 2,500$ 1,566$ 2,500$ 800 5212 65 00 Building Supplies 500$ -$ 500$ 800 5220 65 00 Office Equip & Furniture 45,000$ 47,406$ 15,000$ 800 5230 65 00 Dues & Subscriptions 30,000$ 10,788$ 40,000$ 800 5240 65 00 Postage & Freight 1,000$ 256$ 1,000$ 800 5265 65 00 Promotional Expense 55,000$ 9,005$ 80,000$ 800 5280 65 00 Printing and Reproduction 15,000$ 1,284$ 5,000$ 800 5305 65 00 Chapter 380 Program Grant 81,177$ 201,359$ 504,515$ TIRZ 1 & 2, Lowe's and Kroger 800 5310 65 00 Rental/Office Lease 47,500$ 60,736$ 65,500$ 800 5330 65 00 Copier Service 5,500$ 2,639$ 5,500$ 800 5340 65 00 Building Repairs 500$ -$ 500$ 800 5410 65 00 Professional Services 70,000$ 64,441$ 225,000$ 800 5412 65 00 Audit Fees 1,750$ 1,750$ 2,375$ 47,500 audit fees at 5% 800 5418 65 00 IT Fees -$ -$ -$ 800 5430 65 00 Legal Fees 15,000$ 1,862$ 25,000$ 800 5480 65 00 Contracted Services 12,500$ -$ -$ 800 5520 65 00 Telephones-Cable 4,200$ 2,666$ 4,200$ 800 5521 65 00 Cell Phone Expense -$ -$ -$ 800 5523 65 00 Water 500$ 217$ -$ 800 5524 65 00 Gas - Office 400$ 267$ -$ 800 5525 65 00 Electricity - Office 2,100$ 809$ -$ 800 5526 65 00 Mobile Data Network -$ 684$ 1,000$ 800 5530 65 00 Travel/Lodging/Meals Expense 20,000$ 19,496$ 30,000$ 800 5531 65 00 Prospect Mtgs/Business Meals 6,000$ 6,544$ 10,000$ 800 5533 65 00 Mileage Expense 500$ 31$ 500$ 800 5536 65 00 Training/Seminars 10,900$ 7,812$ 15,000$ 800 6015 65 00 Project Incentives 4,100$ 100$ 10,000$ Total Expenses 446,627$ 452,968$ 1,108,090$ Total Operating Costs 971,049$ 860,206$ 1,645,009$ Net Income 1,112,424$ 925,250$ 859,999$