10 - 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: September 25, 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. These changes are necessitated by three pay periods
in September 2017 and the recent payout of incentives to Bodyguard.
STATUS OF ISSUE: The PEDC Board approved the changes to the budget at the
September 22, 2017, 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 2016-2017 PEDC
budget.
2016-2017
PEDC FINAL BUDGET AMENDMENTS
SEPTEMBER 22, 2017
Acct #
Account Name
2016-2017 BUDGET
AMENDED (4-18-
17)
SUGGESTED AMENDED
CHANGES BUDGET (9/22/2017)
PERSONNEL
0101
Salaries & Wages
160,200.00 $
2,000.00 $
162,200.00
0102
Social Security/Medicare(6.2%/1.45%)
12,650.00
$
12,650.00
0103
Retirement (Edwards Jones)
10,800.00
$
10,800.00
0104
Insurance Benefits:
20,500.00 $
2,000.00 $
22,500.00
0105
Workers Comp. Ins. (.44%)
526.00
$
526.00
TOTAL PERSONNEL EXPENSES
204,676.00 $
4,000.00 $
208,676.00
ADMINISTRATION
0201
Office Supplies
51500.00
$
5,500.00
0202
Postage
500.00
$
500.00
0301
Telephone/Communication
5,000.00
$
5,000.00
0302
Car Allowance
10,000.00
$
10,000.00
0303
Insurance & Bonds
2,500.00
$
2,500.00
0304
Moving Expenses
$
0306
Travel Expenses
10,000.00 $
(4,000.00) $
6,000.00
0308
Utilities
12,000.00
$
12,000.00
0310
Miscellaneous
1,000.00
$
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)
13,400.00
$
13,400.00
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
111,400.00 $
(4,000.00) $
107,400.00
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 Industnal 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
TOTAL MARKETING AND PROMOTION
107,000.00 $
S
107,000.00
TOTAL OPERATING EXPENSES
423,076.00 $
S
4239076.00
JOB TRAINING -DIRECT INCENTIVES -DEBT SERVICE -CAPITAL INCENTIVES
JOB TRAINING
Cam bells/KC-ACT WorkKeys
10,000.00
$
10,000.00
Bodyguard Traning Incentive
13,371.00
$
13,371.00
Results Training Incentive
50,000.0
$
50,000.00
High Demand Job Training Match Grant
25,000.00
$
25,000.00
0318
TOTAL JOB TRAINING
98,371.00 S
S
98,371.00
DIRECT BUSINESS INCENTIVES
0025
Park Street Project
60,000.00
$
60,000.00
0044
Paris Lakes
250,000.00 $
(25,000.00) $
225,000.00
0047
Bodyguard
$
25,000.00 $
25,000.00
0053
Potters Industries
16,000.00
$
16,000.00
0055
Powder Innovations
1,276.77
$
1,276.77
Daisy Dairy
94,900.00
$
94,900.00
TOTAL DIRECT BUSINESS INCENTIVES
422,176.77 8
$
422,176.77
DEBT SERVICE
PEDC Bonds 1998 (Pans Pkg.)
354,011.00
$
354,011.00
The Bank of New York ( Bond Paying Agent Fee)
751100
$
750.00
TOTAL DEBT SERVICE
354,761.00 S
$
354,761.00
CAPITAL EXPENSES
0057
2305 NW Loop 286
$
TOTAL CAPITAL EXPENSES
S
$
TOTAL DEBT, CAPITAL & INCENTIVES
875108.77 $
$
875,308.77
TOTAL BUDGET EXPENSES
1,298,384.77 $
Is
1,298,384.77
APPROVED BY PEDC BOARD ON SEPTEMBER 22, 2017 AND
PAGE 1 APPROVED BY PARIS CITY COUNCIL ON