Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
PEDC FY 2007-2008 Budget
ANNUAL BUDGET FY 2007 - 2008 ECONOMIC DEVELOPMENT CORPORATION (EDC) I�SPER OWN OF p Town of Prosper FY 2007 - 2008 Town Budget Economic Development Corporation Net Assets / Reserves Proposed Account FY 05/06 FY 06/07 I FY 06 / 07 FY 07 / 08 I Description Actual Budgeted Projected Budget ECONOMIC DEVELOPMENT OPERATING REVENUES Sales Tax $ 502,172 $ 500,000 $ 411,000 $ 390,000 Interest $ 37,881 $ 20,000 $ 57,000 $ 50,000 Other Income $ 36 $ - $ - $ - Total Operating Revenues $ 540,089 $ 520,000 $ 468,000 $ 440,000 OPERATING EXPENSES Total Operating Expenses $ 230,308 $ 324,943 $ 218,351 $ 319,066 Total Expenses $ 230,308 $ 324,943 $ 218,351 $ 319,066 INCOME $ 309,781 $ 195,057 $ 249,649 $ 120,934 Change in Net Assets $ 309,781 $ 195,057 $ 249,649 $ 120,934 Fund Balance, beginning (as stated) $ 761,458 $ 1,071,239 $ 1,071,239 $ 1,320,888 Fund Balance, ending $ 1,071,239 $ 1,266,296 $ 1,320,888 $ 1,441,822 Page 1 Town of Prosper Proposed Departmental Budget PI-r1SPERcFiscal Year, 2006-2007 Summary of Revenue Fund: Economic Development 80 Department: EDC 65 A B C D Revenue Projected Actual Budgeted Revenue Proposed Account Revenue FY Current Fiscal Current FY Budget for Code Title of Account 2005-2006 Year 2006-2007 2006-2007 FY 2007-2008 4030 Miscellaneous $ $ $ $ 4060 NSF Fees - 4120 Sales Tax - EDC 502,172 500,000 411,000 390,000 4530 Contributions - - - - 4610 Interest Income - EDC 37,881 20,000 57,000 50,000 4910 Other Revenues 36 - - - Totals $ 540,089 520,000 468,000 440,000 Page 1 s P "SPIER Fund: Economic Development Town of Prosper Proposed Departmental Budget Fiscal Year, 2007-2008 Summary of Expenditures Department: EDC 65 A B C D Expenditures Projected Actual Budgeted Expense Proposed Account Expense FY Current FY Current FY Budget for Code Title of Account 2005-2006 2006-2007 2006-2007 FY 2007-2008 5001 Master Plan - Other 5110 Salaries & Wages $ 96,519 $ 105,042 $ 88,317 $ 111,520 5115 Salaries - Overtime 149 - 100 3,000 5140 Salaries - Longevity 250 850 850 175 5145 Social Security Expense 5,991 6,565 5,515 7,111 5150 Medicare Expense 1,401 1,535 1,290 1,663 5155 SUTA Expense 155 540 814 540 5160 Health Insurance 8,546 8,867 7,051 4,254 5165 Dental 701 798 399 312 5170 Life Insurance 253 90 134 45 5173 AD&D 55 - 135 162 5180 TMRS Expense 6,603 6,626 7,264 9,554 5185 Short/Long Term Disability 658 1,443 511 500 5189 Administrative Fee 1,500 1,500 1,500 12,000 5190 Contract Labor - 1,300 1,165 1,000 5191 Hiring Cost 39 117 117 - 5193 Record Retention - 200 200 200 5210 Supplies 2,847 3,700 3,700 3,700 5212 Building Supplies - 300 300 700 5220 Office Equipment 1,303 3,200 3,200 3,200 5230 Dues School Subscriptions 360 1,825 1,825 1,825 5240 Postage & Delivery 156 1,500 1,500 1,500 5250 Publications 196 425 425 425 5260 Advertising - 300 - - 5265 Promotional Expenses 33,607 50,000 20,500 41,950 5270 Bank Charges 30 200 - - 5280 Printing & Reproduction 1,120 1,200 1,200 1,200 5290 Miscellaneous 145 - - - 5310 Rental Expense 70 75 75 100 5312 Equipment Lease - - 5320 Repair & Maintenance - 63 5325 Copier Lease 468 - - 5330 Copier Expense 2,469 4,000 4,000 4,000 5340 Building Repairs - 1,000 100 1,000 5350 Vehicle Expense - - - - 5410 Professional Services 42,145 30,000 30,000 20,000 5412 Audit Fees 500 500 1,200 1,500 5416 Engineering Fees 10,000 10,000 10,000 7,000 5418 IT Fees 176 500 500 4,000 Page 1 Fund: Econornic Development Department: EDC 65 A B C D Expenditures Projected Actual Budgeted Expense Proposed Account Expense FY Current FY Current FY Budget for Code Title of Account 2005-2006 2006-2007 2006-2007 FY 2007-2008 5430 Legal Fees 2,485 8,400 8,400 9,000 5435 Legal Notices / Filings - 700 700 700 5480 Contracted Services - - - - 5520 Telephone 3,039 3,300 3,300 3,300 5521 Cell Phones 829 900 900 1,700 5524 Gas - 500 - - 5525 Electricity - 2,400 1,600 1,700 5530 Travel Expense 1,659 5,500 5,500 5,500 5533 Mileage Expense 979 5,045 2,000 4,000 5536 Training / Seminars 2,905 4,000 2,000 4,030 6015 Leverage Fund Principal - 50,000 - 45,000 6140 Capital Expenditures -Equip - - Totals $ 230,308 $ 324,943 $ 218,351 $ 319,066 Page 2 r �` P 1cSPER Fund: Economic Development -p Town of Prosper Proposed Departmental Budget Fiscal Year, 2007-2008 Revenue Department: EDC 65 A B C D Revenue Actual Budgeted Projected Budget Detail Proposed Account Revenue FY Current Fiscal Revenue Current Revenue FY Budget for Code Title of Account 2005-2006 Year 2006-2007 FY 2006-2007 2007-2008 FY 2007-2008 4030 Miscellaneous - 4060 NSF Fees - - 4120 Sales Tax - EDC 502,172 500,000 411,000 390,000 390,000 4530 Contributions - - 4610 Interest Income 37,881 20,000 57,000 50,000 TexPool 24,500 TexSTAR 24,500 Local Banks 1,000 4910 Other Revenues 36 - Totals 540,089 520,000 468,000 440,000 440,000 Fund: Economic Development go Town of Prosper Proposed Departmental Budget Fiscal Year, 2007-2008 Summary of Expenditures Department: EDC 65 A B C D Expenditures Projected Actual Budgeted Expense Budget Detail Proposed Account Expense FY Current FY Current FY Expense FY Budget for Code Title of Account 2005-2006 2006-2007 2006-2007 2007-2008 FY 2007-2008 5001 Master Plan - Other 5110 Salaries & Wages Current Personnel 5115 Salaries -Overtime 5140 Salaries - Longevity Current Personnel 5145 Social Security Expense Current Personnel 5150 Medicare Expense Current Personnel 5155 SUTA Expense Current Personnel 5160 Health Insurance Current Personnel 5165 Dental Current Personnel 5170 Life Insurance / A D & D Current Personnel 5173 Life/AD&D (Standard Insur. Policy) Current Personnel 5180 TMRS Expense Current Personnel 5185 Short/Long Term Disability Current Personnel . 5189 Administrative Fee Town Staff Services 5190 Contract Labor Office Cleaning-1/2 x 26 x 100 5191 Hiring Cost New hire drug tests - $39/person x 2 Post -accident drug test 5193 Record Retention Storage & Software 5210 Supplies General office supplies: paper (copier, brochures,etc.),envelopes, pens,HPs & laser printer cartridge,notebooks,folders,etc. Business cards (Staff and Board) 5212 Building Supplies Cleaning Supplies - 1/2 x 200 Paper towels, etc 5220 Office Equipment Office furniture, files, computer equipment & printer replacements 5230 Dues & Subscriptions Texas Economic Development Council (TEDC) - $350 International Council of Shopping Centers - $100 96,519 105,042 88,317 111,520 111,520 149 - 100 3,000 3,000 250 850 850 175 175 5,991 6,565 5,515 7,111 7,111 1,401 1,535 1,290 1,663 1,663 155 540 814 540 540 8,546 8,867 7,051 4,254 4,254 701 798 399 312 312 253 90 134 45 45 55 135 162 162 6,603 6,626 7,264 9,554 9,554 658 1,443 511 500 500 1,500 1,500 1,500 12,000 12,000 1,300 1,165 1,000 1,000 39 117 117 - - 200 200 200 200 2,847 3,700 3,700 3,700 3,700 - 300 300 700 700 1,303 3,200 3,200 3,200 3,200 360 1,825 1,825 1,825 350 Page 1 100 Fund: Economic Development Department: EDC 65 A B C D Expenditures Projected Actual Budgeted Expense Budget Detail Proposed Account Expense FY Current FY Current FY Expense FY Budget for Code Title of Account 2005-2006 2006-2007 2006-2007 2007-2008 FY 2007-2008 North Texas Commercial Association of Realtors - $375 375 DFW Marketing Team - Greater Dallas Chamber - $1000 1,000 5240 Postage & Delivery 156 1,500 1,500 1.500 General mail expense 1,500 5250 Publications 196 425 425 425 Celina Record-1yr @25 (share Town's) 25 Inside Collin County Business 1yr @ $36 36 Frisco Enterprise - 1 yr @39.95 40 McKinney Couriers -Gazette - 1 yr @ 75 75 Dallas Morning News (share Town's) 75 Dallas Business Journal &Book of Lists-1 yr @ $55 for subscribers 55 ProfessionaVTechnical Books and Manuals 119 5260 Advertising - 300 - - Employment Ads - 5265 Promotional Expense 33,607 50,000 20,500 41,950 Annual EDC domain name, hosting & maintenance - $600 + approx. 4hrs.updates @$90/hr - $1000 1,000 Trade show displays(2 banner displays + 1 Ig serial display) - Trade show booth rental - $350 600 Fundraising event/promotional items -C/O fr 06/07 budget-$9,500 8,000 Aerial maps (reflown, 500 2-sided, folded copies) - $6000 10,350 Print ads: Dallas Business Journal - 6 x 1/8-pg + 1 x 1/4-pg Book of Lists) - $17,095 12,000 Inside Collin County Business -Book of Business - 1 x 4-pg, 4-color $5,000 4,000 Printing of marketing flyers Wor brochures - $5000 5,000 Entertainment expense for recruitment - $1000 1,000 5270 Bank Charges 30 200 - Miscellaneous bank charges 5280 Printing & Reproduction 1,120 1,200 1,200 1,200 Letterhead (1000), envelopes (500) 520 Business cards (2 x 1000); mailing labels (200) 200 Name badges - 35 + (15 x 3) 80 Misc. Plattmap/exhibit copies 400 5290 Miscellaneous 145 - 5310 Rental Expense 70 75 75 100 P. O. Box 1060 100 5312 Equipment Lease - 5320 Repair & Maintenance - 63 5325 Copier Lease 468 - - 5330 Copier Expense 2,469 4,000 4,000 4,000 4,000 5340 Building Repairs - 1,000 100 1,000 General maintenance 1,000 5350 Vehicle Expense - - - 5410 Professional Services 42,145 30,000 30,000 20,000 Economic Development Consulting -studies, economic & final impact analysis, demographic & market research services, traffic count study/update 19,500 Certified Public Accountant 500 Page 2 Fund: Economic Development Department: EDC 65 A B C D Expenditures Projected Actual Budgeted Expense Budget Detail Proposed Account Expense FY Current FY Current FY Expense FY Budget for Code Title of Account 2005-2006 2006-2007 2006-2007 2007-2008 FY 2007-2008 5412 Audit Fees Pingleton, Howard & Co. P.C. 5416 Engineering Fees Engineering plan review, surveying, platting, cost estimates HEC2 analysis, FEMA/TXDOT submissions, Easements preparation 5418 IT Fees General repair and maintenance 5430 Legal Fees 60 hours® $200/hr. 5435 Legal Notices/Filings Public notices 5480 Contracted Services 5520 Telephone AT&T approx $250 x 12 5521 Cell Phones Cingular 5524 Gas (Building) 5525 Electricity CAAP-25%x 5530 Travel/Mels/Lodging Expense ICSC SA & LV Conferences: hotel, taxes,meals,parking - $2700 Basic ED Course, 3 days, Austin - $600 OU-EDI , 6 days, $1,200 Unscheduled travel expense - $1000 5533 Mileage Expense Misc trips -Dallas, Ft Worth, leadership training, etc - $1000 San Antonio-ICSC 650 mi x .445/mi-rd trip BasicEDCourse, Austin, 500 miles x $.445 Texas Leadership Institute-550mi x .445/mi-rd trip Texas Leadership Institute-500mi x .445/mi- 2 rd trip OU-EDI , Norman, OK, 320 mi x $.445 TEDC Sales Tax Training-Irving-70 mi x .445- rd trip Mileage reimbursement (routine) - 6499 ®.445 5536 Training / Seminars ICSC SA & LV Conferences -$195 +$280 + $445 = $920 TEDC Sales Tax Training- $150 x 2 = $300 Texas Leadership Institute-99 each x 4 = $400 Northern Collin County Leadership Program - $395 OK-EDI Certification Program - $875 Unscheduled training expense - $1110 6015 Leverage Fund Principal 6140 Capital Expenditures -Equip 500 500 1,200 10,000 10,000 10,000 176 500 500 2,485 8,400 8,400 - 700 700 3,039 3,300 3,300 829 900 900 - 500 - - 2,400 1,600 1,659 5,500 5,500 979 5,045 2,000 2,905 4,000 2,000 Totals 230,308 50,000 1,500 1,500 7,000 7,000 4,000 4,000 9,000 9,000 700 700 3,300 3,300 1,700 1,700 1,700 1,700 5,500 2,700 600 1,200 1.000 4,000 1,000 290 225 250 225 145 35 1,830 4,030 920 300 400 400 900 1,110 45,000 45,000 324,943 218,351 319,066 319,066 Page 3