13 - PEDC 2016-2017 BUDGET AMENDMENTSItem No. 13
memorandum
TO: City Council
John Godwin, City Manager
FROM: Michael Paris, PEDC Executive Director
SUBJECT: PEDC 2016 -2017 BUDGET AMENDMENTS
DATE: April 18, 2017
BACKGROUND: The Paris EDC Board has requested that the following amendments to its
2016 -2017 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.
A) We are moving $23,000 from Contract Labor (0355) and inserting $21,000 in Salaries
and Wages (0101) and 2,000 in Social Security /Medicare (0102). This will accommodate
the personnel transition from a staffing agency to PEDC employment.
B) We suggest an increase of $77,776.77 in the overall budget. This means that we will
increase Insurance Benefits (Personnel - 0104) $8,500, Park Street Project (Direct
Business Incentives - 0025) $60,000, Potters Industries (Direct Business Incentives —
0053) $8,000, and Powder Innovations (Direct Business Incentives — 0055) $1,276.77.
STATUS OF ISSUE: The PEDC Board approved the changes to the budget at the
April 18, 2017, Board requests that the City Council approve the budget changes.
BUDGET: These amendments increase the total PEDC budget by a total of $77,776.77.
RECOMMENDATION: Motion to approve the requested amendments to the 2016 -2017 PEDC
budget.
2016 -2017
PEDC BUDGET AMENDMENTS
APRIL 18, 2017
Acct #
Account Name
2016 -2017 BUDGET
SUGGESTED
CHANGES
AMENDED BUDGET
NOTES
PERSONNEL
0101
Salaries & Wages
139,200.00
$ 21,000.00
$ 160,200.00
$21,000 from Contract Labor /Acct #0355
0102
Social Security/Medicare (6.2 %/1.45 %)
10,650.00
$ 2,000.00
$ 12,650.00
$2,000 from Contract Labor /Acct #0355
0103
Retirement (Edwards Jones)
10,800.00
$ 10,800.00
0104
Insurance Benefits:
12,000.00
$ 8,500.00
$ 20,500.00
All Employees Offered Insurance
0105
Workers Comp. Ins. (.44 %)
526.00
$ 526.00
TOTAL PERSONNEL EXPENSES
173,176.00
$ 31,500.00
$ 204,676.00
ADMINISTRATION
0201
Office Supplies
5,500.00
$ 5,500.00
0202
Postage
500.00
S 500.00
0301
Telephone /Communication
5,000.00
S 5,000.00
0302
Car Allowance
10,000.00
$ 10,000.00
0303
lInsurance & Bonds
2,500.00
S 2,500.00
0304
Moving Expenses
-
S -
0306
Travel Expenses
10,000.00
S 10,000.00
0308
Utilities
12,000.00
$ 12,000.00
0310
Miscellaneous
1,000.00
S 1,000.00
0311
Association Memberships
3,500.00
$ 3,500.00
0314
Staff Training
3,000.00
$ 3,000.00
0348
Depot Operations
15,000.00
$ 15,000.00
0355
Contract Labor (RPM Staffing)
36,400.00
$ (23,000.00)
$ 13,400.00
Added to Salaries /Acct #0101 and SS /Acct #0102
0357
Contract Services - Legal Fees
3,000.00
$ 3,000.00
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
134,400.00
$ (23,000.00)
$ 111,400.00
MARKETING AND PROMOTION
Secure Jobs/Retention/Bus.Retention & Expansion
5,000.00
$ 5,000.00
Lamar County Days 2017
7,000.00
$ 7,000.00
Marketing Airport as Industrial Site
10,000.00
$ 10,000.00
Industry Attraction Video
10,000.00
$ 10,000.00
Marketing and Promotion
75,000.00
$ 75,000.00
0315 ITOTAL
MARKETING AND PROMOTION
107,000.00
$ -
$ 107,000.00
ITOTAL
OPERATING EXPENSES
414,576.00
$ 8,500.00
$ 4239076.00
PAGE 1
2016 -2017
PEDC BUDGET AMENDMENTS
APRIL 18, 2017
JOB TRAINING - DIRECT INCENTIVES -DEBT SERVICE - CAPITAL INCENTIVES
JOB TRAINING
Campbells/KC -ACT WorkKeys
10,000.00
$ 10,000.00
0047
Bodyguard Traning Incentive
13,371.00
$ 13,371.00
0060
Results Training Incentive
50,000.00
$ 50,000.00
High Demand Job Training Match Grant
25,000.00
$ 25,000.00
0318
TOTAL JOB TRAINING
98,371.00
$
$ 98,371.00
DIRECT BUSINESS INCENTIVES
0025
Park Street Project
-
$ 60,000.00
$ 60,000.00
Amount of the Wheeler Construction bid
0044
Paris Lakes
250,000.00
$ 250,000.00
0053
Potters Industries
8,000.00
$ 8,000.00
$ 16,000.00
Paid both 2016 & 2017 Incentives
0055
Powder Innovations
-
$ 1,276.77
$ 1,276.77
Payment of 2016 Taxes on Incentive Property
Daisy Dairy
94,900.00
$ 94,900.00
TOTAL DIRECT BUSINESS INCENTIVES
352,900.00
$ 69,276.77
$ 422,176.77
DEBT SERVICE
PEDC Bonds 1998 (Paris Pkg.)
354,011.00
$ 354,011.00
The Bank of New York ( Bond Paying Agent Fee)
750.00
$ 750.00
TOTAL DEBT SERVICE
3549761.00
$
$ 354,761.00
CAPITAL EXPENSES
0057
2305 NW Loop 286
-
$
TOTAL CAPITAL EXPENSES
-
$
$ -
TOTAL DEBT, CAPITAL & INCENTIVES
806,032.00
$ 69,276.77
$ 875,308.77
TOTAL BUDGET EXPENSES
1,220,608.00
$ 77,776.77
$ 1,298,384.77
A TOTAL OF $77,776.77 WILL BE REQUESTED IN ADDITION TO THE ORIGINAL 2016 -2017 PEDC BUDGET
PAGE 2