14 - PEDC 2015-16 BUDGET AMENDMENTSItem No. 14
memorandum
TO: City Council
John Godwin, City Manager
FROM: Michael Paris, PEDC Executive Director
SUBJECT: PEDC 2015 -2016 BUDGET AMENDMENTS
DATE: September 26, 2016
BACKGROUND: The Paris EDC Board has requested that the following amendments to its
2015 -2016 Budget be approved by the City Council as required by the PEDC bylaws. Attached
to this memo is a worksheet containing columns for the current PEDC budget, the changes
requested and the amended budget amounts. These changes are necessitated by Depot Operation
expenses and by Personnel changing a Contract Labor position into a permanent position.
STATUS OF ISSUE: The PEDC Board approved the changes to the budget at the
September 20, 2016, Board meeting and requests that the City Council approve the
budget changes.
BUDGET: These amendments do not increase the total PEDC budget.
RECOMMENDATION: Motion to approve the requested amendments to the 2015 -2016 PEDC
budget.
2015 -2016 PEDC FINAL AMENDED BUDGET W /Changes Approved by PEDC Board on 09/20/16
Acct #
Account Name
REVISED
BUDGET 2015-
2016
(01/19/2016)
CHANGES
AMENDED
BUDGET
(9/20/2016)
PERSONNEL
0101
Salaries & Wages
81,000.00
7,000.00
88,000.00
Benefits:
0102
Social Security/Medicare (6.2% /1.45 %)
6,679.00
2,000.00
8,679.00
0103
Retirement (Edwards Jones)
8,100.00
-
8,100.00
0104
Insurance Benefits:
9,750.00
9,750.00
0105
Workers Comp. Ins. (.44 %)
394.00
-
394.00
TOTAL PERSONNEL EXPENSES
105,923.00
9,000.00
114,923.00
ADMINISTRATION
0201
Office Supplies
5,500.00
-
5,500.00
0202
Postage
500.00
500.00
0301
Telephone /Communication
5,400.00
5,400.00
0302
Car Allowance
12,000.00
12,000.00
0303
Insurance & Bonds
2,500.00
2,500.00
0304
1 Moving Expenses
3,500.00
3,500.00
0306
Travel Expenses
12,000.00
12,000.00
0308
Utilities
-
-
0310
Miscellaneous
1,000.00
1,000.00
0311
Association Memberships
3,000.00
3,000.00
0314
Staff Training
3,000.00
-
3,000.00
0348
Depot Operations
20,000.00
17,000.00
37,000.00
0355
lContract Labor (RPM Staffing)
81,530.00
(17,000.1111)
64,530.00
0357
Contract Services - Legal Fees
10,000.00
9,000.UU1
1,000.00
0402
Industrial Park Maintenance
14,000.00
14,000.00
0605
Auditing Services
8,000.00
8,000.00
1002
Machinery, Tools & Equipment
5,000.00
5,000.00
TOTAL ADMINISTRATION
186,930.00
(9,000.00)1
177,930.00
MARKETING AND PROMOTION
Goall- Secure Jobs /Retention/Bus.Retention & Expansion
15,000.00
-
15,000.00
Goal 3 -Lamar County Days 2016
_
_
Goal 4- Marketing Airport as Industrial Site
10,000.00
10,000.00
Marketing and Promotion
50,000.00
50,000.00
0315
TOTAL MARKETING AND PROMOTION
75,000.00
75,000.00
TOTAL OPERATING EXPENSES 367,853.00 367,853.00
JOB TRAINING- DIRECT INCENTIVES -DEBT SERVICE - CAPITAL INCENTIVES
JOB TRAINING
Goal #2 Work Keys
35,000.00
35,000.00
0051
1 Skinner Training Incentives
25,000.00
25,000.00
0052
T &K /Aequs
11,000.00
11,000.00
0053
Potter Training Incentive
_
_
0047
Bodyguard Traning Incentive
13,371.00
13,371.00
High Demand Job Training Match Grant
25,000.00
25,000.00
0318
TOTAL JOB TRAINING
109,371.00
109,371.00
DIRECT BUSINESS INCENTIVES
0044
Paris Lakes
250,000.00
250,000.00
0051
J. Skinner New Hires
_
_
_
0052
T &K /Aequs
55,000.00
55,000.00
0053
Potters Industries
8,000.00
8,000.00
0056
Turner
100,000.00
100,000.00
0058
Project RR Spur
2,000.00
2,000.00
0059
Project Tin
_
_
0060
1 Project Results
50,000.00
50,000.00
TOTAL DIRECT BUSINESS INCENTIVES
465,000.00
465,000.00
DEBT SERVICE
PEDC Bonds 1998 (Paris Pkg.)
355,221.00
355,221.00
The Bank of New York ( Bond Paying Agent Fee)
750.00
750.00
TOTAL DEBT SERVICE
355,971.00
355,971.00
CAPITAL EXPENSES
0057
2305 NW Loop 286
50,000.00
50,000.00
TOTAL CAPITAL EXPENSES
50,000.00
50,000.00
TOTAL DEBT, CAPITAL & INCENTIVES
980,342.00
980,342.00
TOTAL BUDGET EXPENSES
1,348,195.00
1,348,195.00
2015 -2016 PEDC Final Amended Budget Approved by City Council on