17 - PEDC 2017-18 Budget AmendmentsItem No. 17
TO: City Council
John Godwin, City Manager
FROM: Michael Paris, PEDC Executive Director
SUBJECT: PEDC 2017-2018 BUDGET AMENDMENTS
DATE: September 19, 2018
BACKGROUND: The Paris EDC Board has requested that the following amendments to its
2017-2018 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: additional
Personnel expense for the end of year payroll; Postage and the Auditing Services being over the
budgeted amounts; Job Training added $25,000.00 due to paying Paris Junior College for a Job
Training match grant; Direct Business Incentives are over the budget by $430,100.00 due to
Campbell's and J Skinner incentives; Capital Expenses show the purchase of the Superior Switch
property and associated expenses.
STATUS OF ISSUE: The PEDC Board approved the changes to the budget at the
September 18, 2018, Board Meeting and requests that the City Council approve the
budget changes.
BUDGET: These amendments increase the total PEDC budget by $752,277.97. This increase is
for Direct Business Incentives and Capital Expenses.
RECOMMENDATION: Motion to approve the requested amendments to the 2017-2018 PEDC
budget.
2017-2018
PEDC FINAL BUDGET AMENDMENTS
Acct #
Account Name
2017-201$ BUDGET
SUGGESTED
AMENDEDCHANGES BUDGET (9/18/2018)
PERSONNEL
0101
Salaries & W,ges171,450.00
S 2,000.00
$ 173,450.00
0102
Social Securil dMedicare (6.2%/1.45°/)
13,100.00
$ 1,000.00
$ 14,100.00
0103
Retirement
10,800.00
$ 10,800.00
0104
Insurance Benefits: _
28,700.00
$ 4,000.00
$ 32,700.00
0105
.Workers Comp. Ins. (.44%)
750.00
''�.
$ 750.00
.TOTAL PERSONNEL EXPENSES
224,800.00
$ 7,000.00
$ 231,800.00
.....
ADMINISTRATION
0201
Office Supplies
4,700.00
$ 4,700.00
0202
Post a
250.00
5 250.00
$ 500.00
0301
Telc)honeJCommunication
5,500.00
$ 5,500.00
0302
Car ARowance
8,400.00
$ 8,400.00
0303
Insurance & Bonds
2,500.00
$ 2,500.00
0304
Movins. Ex ernes
-
$ -
0306
Tmvel Ex senses
1,000.00
5 (500.00) $
500.00
0308
Utilities
12,000.00
$ 12,000.00
0310
Miscellaneous
500.00
$ 500.00
0311
Association Membelshi
3,500.00
$ (1,500.00p $
2,000.00
0314
Staff Training .
1,500.00
$ 1,500.00
0348
D int 9: perAnns
16,150.00
S (2,350.00) $
13 Ff10 00
0355
Contract Labor (RPM Staffing)
$
0357
connact Services - Leev.al Fees
.....
.........................._....... ..........
$
0402
Industrial Park Maintenance
10,000.00
$ 10,000.00
0605
Auditing Services
8,300.00
IF 100.00
$ 8,400.00
1002
MachingT , Tools & Ea ui,ir,ent
18,000.00
1 (3,000.00) $
15,000.00
TOTAL ADMINISTRATION
92,300.00
$ (7,00.00) S..
86 Y0d).00
_..".
__.................. _...,....,......._...,...._ .... ...........�...,.__
MARKETING AND PROMOTION
Secure Jobs/Retention/Bus.Retention & Expansion
5,000.00
$ -
$ 5,000.00
Lamar Couav, Dav,
-
$
Marketing Aiv rcw,t as Industrial Site
10,000.00
$ -
$10,000.00
Indunn Attraction Video
10,000.00
$ -
$ 10,000.00
Marketin and Promotion
75,000.00
$ 75,000.00
0315
TOTAL MARKETLNG AND PROMOTION
100,000.00 '..
$ -
$ 100,000.00
TOTAL OPERATING EXPENSES
417,100.00
$
$ 417,100.00
JOB TRAINING -DIRECT INCENTIVES -DEBT SERVICE -CAPITAL INCENTIVES
....._".... _ .......- .____ _w.
JOB TRAINING
_....._..... ..
Cam+bells/ICC-ACT WogkLC
1,000.00
$ 1,000.00
Results Trainin Incentive
50,000.00
$ 50,000.00
High Demand Job IT!2!pl Match Grant
m
$ 25,000.00
$ 25,000.00
0318
TOTAL JOB TRAINING
51,000.00
$ 25,000.00
$ 76,000M
DIRECT BUSINESS INCENTIVES
0044
Paris Lakes
250,000.00
$ (250,000.00
$
0047
Bodu=.uard
25,000.00
$ (25,000.00b $
-
0053
Patters Industries
81000.00
$ 8,000.00
03111 bells Prnmisso 'Note
-
$ 4b,"O' I) 00
',S x41611 00.00..
J Skinner
-
$ 4410 000 00
$ -975(f Vtf ffP PIkY
Daisy Dairy
94,900.00 ,tip 04 900,00) S
TOTAL DIRECT BUSINESS TNI,"FIN I'IVES
1 377,900 00 $ 443000.00
' $ 808,000.00 .
DEWF SERVICE
PEDC Bonds 1998 (Paris Pk .)
354,926.00
S
$ 354,926.00
the Banik. of New Yr r11 i3onsY ,M ,¢ tis N axe I
750.00
$ -
'', $ 750.00
TOTAL DEBT SE1CW "F
355,676.00
$
$ 355,676.00
CAPITAL EXPENSES
Pro e.fta NW Loop 286 (Su miori
-
$ 208,896.59
$ 208,896.59
American S riralWeld
-
$ 88,281.38
$ 88,281.38
0057
2305 NW Loo 7 286
e
$ -
$ -
TOTAL CAPITAL EXPENSES
-
'$ 297,177.97
$ 297,177.97
TOTAL DEBT, CAPITAL & INCENTIVES
784 876,YBO
$ 752,277.97
$ 1 536 853.97
TOTAL BUDGET EXPENSES
1,201,676.00
$ 752,277.97.
$ 1,953,953.97
APPROVED BY PEDC BOARD ON SEPTEMBER 18, 2018 AND
APPROVED BY PARIS CITY COUNCIL ON,