PEDC FY 2006-2007 BudgetdF
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ISPEROWNOF
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Town of Prosper
FY 2005 - 2006 Town Budget
Summary of Revenues
Economic Development Corp. (EDC) Fund
FY 04105 Proposed Approved
Account FY 04 / 05 Projected 11 FY 05 / 06 I FY 05 / 06IDescriptionBudetYE9/30/05 Budget Budget
80 4030 65 Miscellaneous
80 4060 65 NSF Fees
80 4120 65 Sales Tax - EDC
80 4530 65 Contributions
80 4610 65 Interest Income - EDC
80 4910 65 Other Revenues
276,331 $ 414,640 424,000 424,000
0 350 0 0 0
0 11,612 12,150 0 12,150
0 126 0 0 0
Totals $ 276,331 $ 426,728 $ 436,150 $ 436,150
Adopted Budget FY 05/06
1SPERC]Wx QF
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Town of Prosper
FY 2005 - 2006 Town Budget
Summary of Expenditures
Economic Development Corp. (EDC) Fund
80 5110 65 Salaries & Wages 87,440 72,975 100,991 100,991
80 5115 65 Salaries - Overtime
80 5140 65 Salaries - Longevity 50 50 300 300
80 5145 65 Social Security Expense 4,776 4,776 6,299 6,299
80 5150 65 Medicare Expense 1,117 1,117 1,473 1,473
80 5155 65 SUTA Expense 414 414 540 540
80 5160 65 Health Insurance 4,115 4,115 8,534 8,534
80 5165 65 Dental 0 0 780 780
80 5170 65 Life Insurance 0 0 72 72
80 5173 65 AD&D 0 0 14 14
80 5175 65 TML Expense (Insurance)
80 5180 65 TMRS Expense 2,721 2,721 6,129 6,129
80 5185 65 Short/Long Term Disability 671 671 1,359 1,359
80 5189 65 Administrative Fee 1,500 1,500
80 5190 65 Contract Labor 910 910 1,300 1,300
80 5191 65 Hiring Cost 0 0 117 117
80 5193 65 Record Retention 0 0 200 200
80 5210 65 Supplies 2,199 2,199 3,300 3,300
80 5212 65 Building Supplies 0 0 300 300
80 5220 65 Office Equipment 0 0 3,050 3,050
80 5230 65 Dues School Subscriptions 1,200 1,240 450 450
80 5240 65 Postage & Delivery 2,000 672 2,000 2,000
80 5250 65 Publications 4,085 206 667 667
80 5260 65 Advertising 0 0 300 300
80 5265 65 Promotional Expenses 0 0 50,350 50,350
80 5270 65 Bank Charges 0 200 200
80 5280 65 Printing & Reproduction 5,500 3,554 1,150 1,150
80 5290 65 Miscellaneous 13,390 13,390 0 0
80 5310 65 Rental Expense 0 0 60 60
80 5312 65 Equipment Lease 0 0 0 0
80 5320 65 Repair & Maintenance 1,200 2,996 0 0
80 5325 65 Copier Lease 0 0 1,900 1,900
80 5330 65 Copier Expense 0 0 800 800
80 5340 65 Building Repairs 0 0 1,000 1,000
80 5350 65 Vehicle Expense 0 0 0 0
80 5353 65 Gas/Grease/OlUlnspections 0 0 0 0
80 5410 65 Professional Services 48,840 58,945 44,000 44,000
80 5412 65 Audit Fees 0 0 500 500
80 5416 65 Engineering Fees 0 0 10,000 10,000
80 5418 65 IT Fees 0 0 500 500
80 5430 65 Legal Fees 40,000 0 14,000 14,000
80 5435 65 Legal Notices / Filings 0 0 700 700
80 5520 65 Telephone 3,900 4,121 3,300 3,300
80 5521 65 Cell Phones 0 0 900 900
80 5524 65 Gas 0 0 500 500
80 5525 65 Electricity 0 0 2,400 2,400
80 5530 65 Travel Expense 2,075 1,906 3,000 3,000
80 5533 65 Mileage Expense 0 0 1,920 1,920
80 5536 65 Training / Seminars 0 0 2,435 2,435
80 6140 65 Capital Expenditures -Equip 5,250 5,250 0 0
Totals 231,854 182,228 279,290 279,290
Adopted.Budget FY 05/06
ECONOMIC
DEVELOPMENT
To: Honorable Mayor and Town Council
From: Karen P. Gandy, Executive Director
Cc: Douglas C. Mousel, Town Administrator
Re: Town Council Meeting — September 12, 2006
Date: September 8, 2006
Agenda Item:
Consider and act upon an Ordinance adopting the FY 06-07 Prosper Economic Development
Corporation ("PEDC") Budget.
escription of Agenda Item:
This ordinance adopts the FY 06-07 Budget for the PEDC for the period beginning October 1,
2006 through September 30, 2007 and appropriates resources for execution of the FY 06-07
Work Plan for the Corporation.
Budget,lmpact:
N/A
Nepal Obligations and Review:
No legal review is required for this agenda item.
Attached Documents:
Attached please find the Ordinance adopting the PEDC Budget. As a component unit of the
Town, the PEDC's approved budget has been included within the Town's FY 06-07 Budget
document.
Board Committee and/or Staff Recommendation:
The PEDC approved their FY 06-07 Budget on June 14, 2006 and recommends that the Town
Council adopt the attached Ordinance appropriating funding for implementation of the PEDC FY
06-07 Budget and Work Plan for the upcoming budget year.
Agenda Item No. 14
TOWN OF PROSPER, TEXAS ORDINANCE NO.06-
AN ORDINANCE OF THE TOWN OF PROSPER, TEXAS ADOPTING A
BUDGET AND APPROPRIATING RESOURCES FOR THE PROSPER
ECONOMIC DEVELOPMENT CORPORATION BUDGET YEAR BEGINNING
OCTOBER 1, 2006; PROVIDING FOR REPEALING, SAVINGS AND
SEVERABILITY CLAUSES; PROVIDING FOR AN EFFECTIVE DATE OF
THIS ORDINANCE; AND PROVIDING FOR THE PUBLICATION OF THE
CAPTION HEREOF.
WHERAS, pursuant to the laws of the State of Texas and the Bylaws of the Town of Prosper,
Texas ("Prosper") Prosper Economic Development Corporation ("PEDC"), the budget covering the
proposed expenditures for the fiscal year beginning October 1, 2006 and ending September 30, 2007, was
filed with the Town Secretary (the "budget"). A copy of the budget is attached hereto as Exhibit "A" and
incorporated for all purposes; and
WHEREAS, a public hearing was held by the Town Council of the Town of Prosper, Texas
Town Council") on said budget on August 22, 2006, at which time said budget was fully considered,
and interested taxpayers were given the opportunity to be heard by the Town Council; and
WHEREAS, the Town Council has studied the budget and listened to the comments of the
taxpayers at the public hearing and has investigated and determined that adoption of the budget is in the
best interest of the Town; and
WHEREAS, the Town Council finds that all legal notices, hearings, procedures and publishing
requirements for the adoption of the budget have been performed or completed in the manner and form
set forth by law.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS:
SECTION 1: Findings Incorporated. The findings set forth above are incorporated into the body
of this Ordinance as if fully set forth herein.
SECTION 2: Adoption of Budget. The proposed budget estimate of revenues and expenditures
for the PEDC, attached hereto as Exhibit 'A', as presented by the Board of Directors of the PEDC and
appropriated by the Town Council for the fiscal year beginning October 1, 2006 and ending September
30, 2007, is hereby approved and adopted.
SECTION 3: Proposed 2006-2007 Expenditures. The proposed fiscal year 2006-2007 estimate
of expenditures for the PEDC is $324,944.
SECTION 4: Savings I Repgaling Clause. All provisions of any ordinance in conflict with this
ordinance are hereby repealed; but such repeal shall not abate any pending prosecution from being
commenced for any violation if occurring prior to the repeal of the Ordinance. Any remaining portions of
conflicting ordinances shall remain in full force and effect.
SECTION 5: Severability. Should any section, subsection, sentence, clause or phrase of this
Ordinance be declared unconstitutional or invalid by a court of competent jurisdiction, it is expressly
provided that any and all remaining portions of this Ordinance shall remain in full force and effect.
Prosper hereby declares that it would have passed this Ordinance, and each section, subsection, sentence,
ORDINANCE APPROVING THE PEDC BUDGET FOR FISCAL YEAR 2006-2007—Page 1 of 2
clause, or phrase thereof irrespective of the fact that any one or more sections, subsections, sentenc6s,
clauses, or phrases be declared unconstitutional or invalid.
SECTION -6: Effective Date. This Ordinance shall become effective from and after its adoption
and publication as required by law.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, ON THIS 12TH DAY OF SEPTEMBER, 2006.
CHARLES NISWANGER, MAYOR
ATTEST TO:
Matthew D. Denton, Town Secretary
Date ofPublication _ Dallas Morning News — Collin County Edition
ORDINANCE APPROVING THE PEDC BUDGET FOR FISCAL YEAR 2006-2007—Page 2 of 2
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1SPEROWN P
Fund: Economic Devela meat
Town of Prosper
Departmental Budget
Fiscal Year, 2006-2007
Summary of Revenue
Department: EDC
A B C D
Revenue Projected Proposed
Actual Budgeted Revenue Revenue For
Account Revenue FY Current Fiscal Current FY Next FY 2006
Code Title of Account 2004-2005 Year 2005-2006 2005-2006 2007
4030 Miscellaneous $ - $ $ _ $
4060 NSF Fees -
4120 Sales Tax - EDC 468,659 424,000 470,000 500,000
4530 Contributions - - - _
4610 Interest Income - EDC 1,720 12,150 20,000 20,000
4910 Other Revenues 11,385 - - -
Totals $ 481,764 436,150 490,000 520,000
Page 1
1
Fund: Economic Develo rnent
Town of Prosper
Departmental Budget
Fiscal Year, 2006-2007
Summary of Expenditures
Department: EDC 65
A B C D
Expenditures Projected
Actual Budgeted Current Expense Proposed
Account Expense FY Fiscal Year 2005- Current FY Expenditures For
Code Title of Account 2004-2005 2006 2005-2006 Next FY 2006-2007
5001 Master Plan - Other 7,524
5110 Salaries & Wages 84,257 $ 100,991 $ 100,991 $ 105,042
5115 Salaries - Overtime
5140 Salaries - Longevity 300 300 850
5145 Social Security Expense 6,299 6,299 6,565
5150 Medicare Expense 1,473 1,473 1,535
5155 SUTA Expense 540 540 540
5160 Health Insurance 8,534 8,534 8,867
5165 Dental 780 780 798
5170 Life Insurance 72 72 90
5173 AD&D 14 16
5180 TMRS Expense 6,129 6,129 6,626
5185 Short/Long Term Disability 1,359 1,359 1,443
5189 Administrative Fee 1,500 1,500 1,500
5190 Contract Labor 1,300 1,300 1,300
5191 Hiring Cost 117 117 117
5193 Record Retention 200 200 200
5210 Supplies 896 3,300 3,300 3,700
5212 Building Supplies 300 300 300
5220 Office Equipment 3,050 3,050 3,200
5230 Dues School Subscriptions 1,118 450 450 1,825
5240 Postage & Delivery 2,000 2,000 1,500
5250 Publications 667 667 425
5260 Advertising 300 300 300
5265 Promotional Expenses 50,350 50,350 50,000
5270 Bank Charges 15 200 200 200
5280 Printing & Reproduction 1,150 1,150 1,200
5290 Miscellaneous 12,211
5310 Rental Expense 1,927 60 60 75
5312 Equipment Lease
5320 Repair & Maintenance 2,796
5325 Copier Lease 906 1,900 1,900
5330 Copier Expense 800 800 4,000
5340 Building Repairs 1,000 1,000 1,000
5350 Vehicle Expense 153
5410 Professional Services 42,120 44,000 44,000 30,000
5412 Audit Fees 500 500 500
5416 Engineering Fees 10,000 10,000 10,000
5418 IT Fees 500 500 500
Page 1
Fund: Economic Development Department: EDC 65
A B C D
Expenditures Projected
Actual Budgeted Current Expense Proposed
Account Expense FY Fiscal Year 2005- Current FY Expenditures For
Code Title of Account 2004-2005 2006 2005-2006 Next FY 2006-2007
5430 Legal Fees 14,000 14,000 8,400
5435 Legal Notices / Filings 700 700 700
5480 Contracted Services 7,011 -
5520 Telephone 3,300 3,300 3,300
5521 Cell Phones 900 900 900
5524 Gas 500 500 500
5525 Electricity 2,400 2,400 2,400
5530 Travel Expense 1,252 3,000 3,000 5,500
5533 Mileage Expense 1,920 1,920 5,045
5536 Training / Seminars 195 2,435 2,435 4,000
6015 Leverage Fund Principal 50,000
6140 Capital Expenditures -Equip
Totals $ 162,381 $ 279,290 $ 279,292 $ 324,944
Page 2