2005-103-RES APPROVING PARIS ECONOMIC DEVELOPMENT CORP BUDGET FOR FISCAL YEAR
RESOLUTION NO. 2005-103
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
PARIS, TEXAS, ACCEPTING AND APPROVING THE PARIS ECONOMIC
DEVELOPMENT CORPORATION BUDGET FOR THE FISCAL YEAR
OCTOBER 1,2005, TO SEPTEMBER 30, 2006; MAKING OTHER FINDINGS
AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the Paris Economic Development Corporation has presented its budget for
the fiscal year beginning October 1,2005, and ending September 30,2006; and,
WHEREAS, it is appropriate that said budget, attached hereto as Exhibit A, be accepted
and approved; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS,
TEXAS:
Section 1. That the fmdings set out in the preamble to this resolution are hereby in all
things approved.
Section 2. That the proposed budget for the Paris Economic Development Corporation,
for the fiscal year beginning October 1,2005, and ending September 30, 2006, be, and the same
is hereby, accepted and approved.
Section 3. That this resolution shall be effective from and after its date of passage.
PASSED AND APPROVED this 12th day- ofSe
er, 2005.
ATTEST:
. Schenk, City Attorney
PARIS ECONOMIC DEVELOPMENT CORPORA nON
Revenue Statement
2005-2006
Anticipated Cash Position 9/30/05
(These funds will be carried over to 2005/06 budget)
$425,121
Revenue 2005-2006:
Estimated Sales Tax
Estimated Interest
Paris Packaging Payments
Total Current Revenue
$970,000
5,000
384,000
1,359,000
Total Resources
1,784,121
Committed Funds:
Bond Debt Payments
C- Tech Loan Payments
Ind. Park Loan Payments
Chamber of Commerce
387,000
219,638
226,500
228,439
Total Commitment of Existing Funds
1,061,577
Available Funds For Projects 2005-2006
$722,544
Long Term Obligations (as of 9-30-05):
Bonds Payable (over 13 years)
C-Tech Debt Payable (over 3 years)
Ind. Park Debt Payable - est. (over 4 years)
3,295,000
588,705
880,610
Total Long Term Obligations
$4,764,315
PARIS ECONOMIC DEVELOPMENT CORPORATION
2005-2006
BUDGET
0001
New Industry Projects
Turner International Piping
C-Tech $1,000,000 Debt
Industrial Park
Industrial Park Debt
TCIM
Existing Industry Projects
Paris Packaging
Hearne S!. Extension
Chapman Note
SUB TOTAL
0002
ii.i.AC.l1l!l..A. L.i.i.i.
,.._...-,-,.,.,._......_,....,-,...,.,... -,
02;;03'
""""""'-.-'''''''''."'''''---''
... .....-,.."...-.....
700,629
500,000
54,909
o
o
50,000
19,000
389,428
2,671
49,414
1 ,766,051
i~Q!'It"4~~..........~~~~eQ1t!?P .....TT~IPI!?1t............
TiQ~t9:4I.. .......~.QIl4iil)$ ....II~IlQ$iil)Qi.......
61,666 32,703 361,272
o 0 0
200,844 219,638 219,638
897,430 496,470 0
o 219,638 226,500
25,000 0 0
o 2,100 361,272
409,566 389,000 387,000
47,774 156,283 0
o 0 0
1,642,280 1,515,832 1,555,682
1001 Office Equipment
0201 Office Supplies
0202 Postage
21,319
5,035
2,596
4,041
5,626
9,388
5,100
6,500
6,000
5,100
6,500
8,000
SUB TOTAL
--------- ------------------------------------------- --------------------------------------------------------------------------------
$19,600
$28,950
$19,055
$17,600
'..:,::,@::I:IH;W:::@Iij::!!;ll:';;:;:;J!M;;m:ii\i1'!i~MMifMj:,l!l@iJllfillili'liIMii1liil1lillii@MmWiii11:"!IMi:lflh;:;:!!;:iMl!@Mf#@ntMWHMI#f!J;1fl!MIi!J:[j!l;~mil@l::;';Mi;:
0301 Communications
0305 Special Services Fees/Consultants
0306 Travel
0307 Subscriptions
0310 Miscellaneous
0311 Associations
0315 Promotional/Advertising
0349 City Services
0350 Compensation - Director
0351 Compensation - Ass!. Director
Chamber Administration Fee
Audit
SUB TOTAL
1,865
2,123
24,093
385
38
2,886
96,524
o
56,570
45,620
o
2,500
$232,604
1,190
3,750
31,870
495
o
3,913
32,780
o
61,407
48,792
o
3,550
$187,746
1,200
4,000
28,000
488
o
3,000
20,000
o
61,704
47,610
10,000
3,750
$179,752
1,300
3,000
29,000
500
1,000
4,000
40,000
o
65,646
49,643
10,000
3,750
$207,839
0610 Reference Materials
0610-11 Contingency
~ii]~iJiJit.\Wflf:f}fiJj{{4.~tf.f'
~;;~iimill~t~~itf11~1!
o
1,000
SUBTOTAL
--------- ------------------------------------------- --------------------------------------------------------------------------------
$1,000