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06 - Report & Minutes - Boards and CommissionsItem No. 6 VCC Q_AURTERLY REPORTS: APRIL, M AY, AND JUNE 2020 Agdl.. 2020 No Funded events Maya 2020 Archer's For Christ ASA Western Reizional Southwest Shootout — May 23 and 24 Funded: $1750 Room nights: 15 Attendance was considerably low due to COVID and inclement weather. June 2020 Texas Redneck Ramble: Motorcycle Meet and Tour - June 13 & 14 Funded: $1040 Room nights: 53 This was a new event and planning to come back in 2021 Kathy Whitworth Paris Championship Women's All Pro Tour—June 15-19 Funded: $1500 Room nights: 130 This was the 2nd year for this event, first time to request funding. Super turnout and planning for next year! Paris Visitor & Convention Council Statement of Assets, Liabilities and Net Assets Modified Cash Basis April 30, 2020 ASSETS CURRENT ASSETS HOT Checking Not HOT Checking GBB CD 6303883 GBB CID 6303882 Liberty Money Market LNB CD Total Current Assets OTHER ASSETS Returned Checks Receivable Total Other Assets Total Assets I LIABILITIES AND NET ASSETS CURRENT LIABILITIES Due to COC Due to LCC; Due to Trail de Paris T -Shirt Payroll Liabilities Total Current Liabilities NET ASSETS Retained Earnings Net Income Total Net Assets Total Liabilities and Net Assets $ 79,927.73 105,875.06 28,113.88 101,476.82 51,040.12 50,746.04 417,179.65 35.00 $ 417214.66 $ 2,037.00 16,879.89 10.00 1,547.38 20,474.27 397,905.85 39674038 $ 417,214.66 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Budget to Actual, Year to Data Modified Basis 5 -or tho-U-Non"fim Erdad AF Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 7 Months Ended 7 Months Ended Apr 30, 2020 Apr 30, 2020 Variance ` of Budget Annual Budget Actual Budget Revenue Hotel l Motel Occupancy Tax 329,399.49 325,000.00 4,393.49 101.51 550,000.00 Plot Money Interest 84.34 0,00 84.34 0.00% 0.00 Total Revenue 329 982-82 3256000°00 4.,992.82 101.53% 6500 000,00 Operating Wonses Postage 404.09 460.00 (55.91) 67.95 % 1,000.00 Misc Expenses 729.67 510,00 (81.33) 89.96% 2,500.00 General Liability 1,494.00 0,00 1,494.00 0.00 % 0.00 D & O Insurance 1,435.34 1,500.00 (54.66) 95°69 % 1,500.00 Worker's Comp 664.00 600°00 64.00 110.97 % 2,000.00 Staff Ins./Retirement 5,570.35 4,956.00 614.36 112.40 8,500,00 Meetings & Hosting 97.72 100.00 (22$) 97.72% 600.00 Chamber Management 20,000,00 20,000°00 100 100.00% 40,000.00 Small Equipment 129,30 0,00 12.9,90 0.00% 0.00 Out of Town Travel 839,46 950,00 (110.54) 88.36% 2,000.00 Intown AutolExp,Allowan 1,400000 1,575,00 (175,00) 88.89 2,700,00 Membership Dues/Sub. 1,000°00 1,200,00 (200.00) 8333 5,500.00 Audit 1,983°00 2,200.00 (217,00) 90,14% 2,200.00 Bookkeeping 2,986.65 3,500.00 (513.35) $5.33 % 6,000,00 Payroll Expenses 47,79182 47,845,00 (51.18) 99.89% 82,025.00 ABBS Wage Reirnburernent (1,632°5) 0,00 (1,632,56) 0.00 % 0.00 Payroll Tax Expense 3,759.87 3,765.00 (5.13) 99.86% 6,450.00 Office Expense 1,551.26 1,300.00 251.26 119.33 % 2,000.00 Communications 1,823.96 1,169.00 664.95 156.03 2,000.00 Historical Museum 0,00 0.00 0.00 0.00 % 3,500.00 Bank Service Charge 52.22 400.00 (347.78) 1106 % 1,000°00 Credit Card Fee 1,005.40 1,157.50 (162,10) 86.12 % 2,000.00 Martel Tax Transferred to LGC 104,949.24 182,000.00 (97,050.76) 90.63 % 325,000.00 Marketing ! Adve ° ing 20,152.51 20,600.00 (447,49) 97.83% 65,000,00 Chaparral Square Dancers 0.00 0.00 0.00 0.00% 2,100°00 Tour de Pads Exp 1,427A04 1,300°00 127.04 109.77% 30,000.00 ASA 5,65100 7,000m (1,146,00) 83.60% 27,000.00 SDBA Boat Races 0A00 0,00 0.00 0.00 7,500.00 Events Promotion / Funding 17,29100 17,300,00 (7.00) 99.96 % 39,000.00 Arts Allocation 7,000.00 7®000.00 0.00 100,00% 7,000.00 Baseball Field Lighting 11,855.86 11,855,85 0.00 100,00% 11,855.66 Rent to DOC 7,000.00 7,000.00 _ 0.00 100.00% x � 12,000.00 Total Operating Expenses 3291616.81 347,553.36(114,936,55) 94.65% 699,930.86 Operating Income (Loss) 1,366.01 (22,553.36) 23,919,37(6. ) (49,930,86 NOT -HOT INCOME Misc Income 2,096.87 462.00 1,634.87 453.87% 1,000,00 Trolley / Historical 2,500.00 3,500.00 (1,000.00) 71 A43 % 5,000.00 Tour de Furls Income 871.65 300.00 571.85 290.62 % 49,000.00 Souvenir Sales 3,323.84 5,835.00 (2,511.16) 56.96 % 10,000.00 Interest Income469Z1 _._.._._.._ 90.00 379,01 521.12.% 150,00 Total Not -Plot Inco 91261,57 10,187.00X925.43) 90.92% 6541 .00 NOT -HOT EXPENSES Not -Hot Events 1,000.00 0.00 1,000.00 0.00% 0.00 Trolley Driver 1,120.00 1,300.00 (180.00) ' 86.15% 1,800.00 Trolley Expenses 2,494,12 3,500.00 (1,005.86) 71.26% 6,000.00 Trolley Insurance 1,410,73 1,225.00 195,73 115.16 % 2,100000 Souvenir Exp 5,766,20 _ 3,500°00 2,2658°20 164.81 % 000.00 Total Nast -Hot Expenses 11,793.05 9,525.00 2268.05 123.81% 14,9 .00 Not Income (Loss) _ (1,16547 5(21,891,36 L 20,725°89 5.32% 319.14 Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Budget to Actual, Current Month and Prior Year Period Modified Cash Basis For I Month Ended April 30, 2020 and 2019 and 7 Months Ended April 30, 2019 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided I Month Ended 1 Month Ended 1 Month Ended 7 Months Ended Apr 30, 2020 Apr 30, 2020 Apr 30, 2019 Apr 30,20119 Actual Budget Actual Actual REVENUE Hotel I Motel Occupancy Tax $ 0.00 $ 0.00 $ 0.00 $ 332,994.69 Hot Money Interest (Loo 0.00 4,56 17.53 Total Revenue 0.00 0.00 4.66 333j012.22 OPERATING EXPENSES Utilities 0.00 0.00 0.00 34.66 Training / Education 0.00 0.00 0.00 130Z0 Postage 66.33 100100 53.68 435.77 Misc Expenses 45.05 400.00 0.00 14615 D & 0 Insurance MOO 0.00 0.00 1,435.33 Workers Comp MDO 0.00 0.00 70733 Staff m&IRefirement 1,207,07 708A0 473,08 4,404.79 Meetings & Hosting 0.00 0.00 0.00 224.57 Chamber Management 0.00 0.00 MOO 20,000.00 Out of Town Travel 0.00 0.00 16.71 1,126.48 Int own Auto/Exp Allowance 200.00 225.00 200.00 1,400.00 Membership Dues/Sub. 0.00 0.00 0.00 1,015.00 Audit 0,00 MOO 0.00 1,850m Bookkeeping 356.66 500.00 283.34 3,16116 Payroll Expenses 6,659.88 6,835.00 6,364.12 46,172A6 ABBS Wage Reirriburement 0,00 0.00 0.00 (1,632056) Payroll Tax Expense 605.84 537.00 484.06 3,676,80 Office Expense 147,63 140.00 0.00 145.26 Communications 197.61 167,04 89.09 623.32 Bank Service Charge 7.46 120.00 7.46 5222 Credit Card Fee 175.18 166.60 299.39 1,176.46 Motel Tax Transferred to LCC 0,00 0.00 0,00 166,497.34 Marketing I Advertising 0.00 0.00 2,679.29 33,484.53 Event Expenses - Other 0= 0.00 OMO 47.66 Chaparral Square Dancers 0.00 0.00 0= 1,541.18 Paris Art & Wine Fast Exp 0.00 M00 OMO 750.00 Tour de Pads Exp 308,99 300.00 174.58 1,436.78 Uncle Jessie's Exp 0.00 0.00 625.00 625.00 ABA 5,644.00 8,800.00 2,168A0 8,41810 SDBA Boat Races 0.00 0.00 0,00 507,90 Wings Over Paris Exp 0.00 0.00 2,500.00 2,60040 Events Promotion I Funding 0.00 0.00 11000.00 14,02342 Baseball Field Lighting 040 0.00 040 11,855.86 Rent to COC _____1,000.00 1,000.00 1,000.00 _.__ 7,000.00 Total Operating Expenses 16L5I6-70 17928-60 18,406.90 334973.67 Operating Income (Loss) (161516.70) jL7,998.5j0 (jjA02.34 IL961,46 NOT -HOT INCOME Misc Income 011 200.00 020 136 Trolley I Historical 0.00 300.00 0.00 1,800.00 ASA Booth Rentals 0.00 0.00 0.00 500.00 Tour do Pads Income 111.85 200.00 2,214.13 14,220.52 Souvenir Sales 120.00 83100 35174 2,025.05 Interest income 21.96 12,00 21.42 125,38 Total Other Income 254.62 1,546.00 2,689.49 18 672.31 NOT -HOT EXPENSES Trolley Driver 0.00 10040 0,00 692.60 Trolley Expenses 228.26 600.00 0.00 1,698m Trolley Insurance 351.64 175,00 162,32 1,138.40 Souvenir Exp 3,340.96 400.00 0.00 4,795.00 Miso NH Expense 0.00 0.00 300.00 466.07 Total Not -Hot Expenses 3,920.35 1,276.00 462,32 6,690.96 Not Income (Loss) t_(10,1183.03) JU7j28.50 j 1jtvjLj;1 7 5,019.91 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Statement of Assets, liabilities and Net Assets Modified Cash Basis May 31, 2020 ASSETS CURRENT ASSETS HOT Checking Not HOT Checking GBB CD 6303883 GBB CD 6303882 Liberty Money Market LNB CD Total Current Assets OTHER ASSETS Returned Checks Receivable Total Other Assets Total Assets 9 LIABILITIES AND NET ASSETS CURRENT LIABILITIES .,Due to COC Due to LCC Due to Trail de naris T -Shirt Payroll liabilities ToW Current Liabilities NET ASSETS Retained Earnings Net Income Total Liabilities and Net Assets $ 183,564.72 108,618.93 28,113.88 101,476.82 51,040.12 50.746.04 523,560.51 35.00 35.00 $ 623L695.51 $ 600.00 76,841.71 10.00 709.04 76,160.75 397,905.85 47,528.91 445,434.76 $ 523,595.51 I Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Budget to Actual, Year to Date Modified Cash Basis For the 8 Months Ended May 31, 2020 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 8 Months Ended 8 Months Ended May 31, 2020 May 31, 2020 Variance % of Budget Annual Budget Actual Budget Revenue Hotel / Motel Occupancy Tax $ 478,096.08 $ 487,500,00 $ (9,403.92) 98.07% $ 650,000.00 Hot Money Interest 84.34 0.00 84.34 0.00% 0.00 Total Revenue 478,180.42 487,500.00(9,319.58) 98.09 % 650 000.00 Operating Expenses Postage 425.12 560.00 (134.88) 75.91 % 1,000.00 Misc Expenses 858.57 810.00 48.57 106.00% 2,500.00 General Liability 1,494.00 0.00 1,494.00 0.00% 0.00 D & 0 Insurance 1,435.34 1,500.00 (64.66) 95.69% 1,500.00 Worker's Comp 664.00 600.00 64.00 110.67% 2,000.00 Staff InsJRetirement 6,229.45 5,664.00 565.45 109.98% 8,500.00 Meetings & Hosting 97.72 100.00 (2:28) 97.72% 600.00 Chamber Management 30,000.00 30,000.00 0.00 100.00% 40,000.00 Out of Town Travel 839.46 950:00 (110.54) 88.36% 2,000.00 Intown Auto/Exp Allowance 1,600.00 1,800.00 (200.00) 88.89% 2,700.00 Membership Dues/Sub. 1,000.00 1,200.00 (200.00) 83,33% 5,500.00 Audit 1,983.00 2,200.00 (217.00) 90.14% 2,200.00 Bookkeeping 3,384.98 4,000.00 (615.02) 84.62% 6,000.00 Payroll Expenses 54,322.82 64,681.00 (358.18) 99.34% 82,025.00 ABBS Wage Reimburement (1,632.56) 0.00 (1,632.56) 0:00 % 0.00 Payroll Tax Expense 4,254.18 4,302.00 (47.82) 98.89% 6,450.00 Office Expense 1,898.63 1,440.00 458.63 131.85% 2,000.00 Communications 2,153.88 1,336.00 817.88 161.22% 2,000.00 Historical Museum 0.00 0.00 0.00 0.00% 3,500.00 Bank Service Charge 59.68 520.00 (460.32) 11.48% 1,000.00 Credit Card Fee 1,064.02 1,334.00 (269.98) 79,76% 2,000.00 Motel Tax Transferred to LCC 239,048.04 254,000.00 (14,951.96) 94.11 °% 325,000.00 Marketing / Advertising 21,359.38 32,600.00 (11,240.62) 65.52% 65,000.00 Chaparral Square Dancers 0.00 0.00 0.00 0.00% 2,100.00 Tour de Paris Exp 1,427.04 1,300.00 127.04 109.77% 30,0.00.00 ASA 5,852.00 27,000.00 (21,148.00) 21.67% 27,000.00 SDBA Boat Races 7,000.00 7,500.00 (500.00) 93.33% 7,500.00 Events Promotion / Funding 17,193.00 21,300.00 (4,107.00) 80.72 °% 39,000.00 Arts Allocation 7,000.00 7,000.00 0.00 100.00% 7,000.00 Baseball Field Lighting 11,855.86 11,855.86 0.00 100.00% 11,855.86 Rent to COC 8,000.00 ----___§'000.00 ._._.._ _ _ 0.00 100.00% 12,000.00 Total Operating Expenses 430,867.61 483,552.86 (52,685. 89-10% 6991930.86 Operating Income (Loss) 47,312.81 3,947.14 43,365.67 11198.66% _ (49,93.0.86) NOT -HOT INCOME Misc Income 2,153.37 562.00 1,591.37 383.16% 1,000.00 Trolley / Historical 2,875.00 3,800.00 (925.00) 75.66% 5,000.00 Tour de Paris Income 3,036.85 2,800.00 236.85 108.46% 49,000.00 Souvenir Sales 3,520.51 6,668.00 (3,147.49) 52.80% 10,000.00 Interest Income 491.82 102.00 389.82 482.18% _ 150.00 Total Not; -Hot Income 12,077.55 133932.00 __ 1,854.45} 86.69% 66,150.00 NOT -HOT EXPENSES Not -Hot Events 1,000.00 0.00 1,000.00 0.00 % 0.00 Trolley Driver 1,120.00 1,400.00 (280.00) 80.00% 1,800.00 Trolley Expenses 2,494.12 4,000.00 (1,505.88) 62.35% 6,000.00 Trolley Insurance 1,410.73 1,400.00 10.73 100.77% 2,100.00 Souvenir Exp 5,836.60 3,600-00 2,236.60 162.13% 5,000.00 Total Not -Hot Expenses 11,861.45 10,400.00 1,461.45 114.05% 14,900.00 Net Income (Loss) $ 47,528.91 $ 7,479.14, f__ 40,049.77 635,49% $ 319.14 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Budget to Actual, Current Month and Prior Year Period Modified Cash, Basis For I Month Ended May 31, 2020 and 2019 and 8 Months Ended May 31, 2019 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided I Month Ended I Month Ended I Month Ended 8 Months Ended May 31, 2020 May 31, 2020 May 31, 2019 May 31, 2019 Actual Budget Actual Actual REVENUE Hotel I Motel Occupancy Tax $ 146,197.60 $ 162,500Z0 It 136,624.72 $ 469,519.41 Hot Money Interest 0.00 0.00 135 20,66 Total Revenue 148,197.60 162,500.00 136;523,07 9,540.29 OPERATING EXPENSES Utilities 0.00 0.00 0.00 34.56 Training I Education 0.00 MOO 0.00 130.00 Postage 21.03 160m0 4830 464.07 Misc Expenses 0.00 0.00 134.75 281 SO D & 0 Insurance MOO 0.00 MOO 1,43533 Workers Comp 0.00 0100 0.00 707.33 Staff Ins./Retirement 659.09 706.00 47188 4,876.67 Meetings & Hosting 040 0.00 136.60 36317 Chamber Management 10,000.00 10,000.00 10,000.00 30,000.00 Out of Town Travel 0= 0.00 0.00 1,125.48 Intown Auto/Exp Allowance 200,00 225.00 200.00 1,600.00 Membership Dues/Sub. 0.00 0,00 0.00 1,015z0 Audit MOO 0100 0.00 1,850.00 Bookkeeping 39833 600.00 396.66 3,666.82 Payroll Expenses 6,529.00 6,836.00 6,592.32 52,764.38 ABBS Wage Reimburement 0.00 0.00 0.00 (1,&V.56) Payroll Tax Expense 494,31 537.00 499.15 4,174.95 Office Expense 347.37 146.00 0.00 14526 Communications 329.92 167.00 89.09 712.41 Bank Service Charge 7.46 120.00 7.46 59.68 Credit Card Fee . 58.62 166.50 .96A6 1,274.92 Motel Tax Transferred to LCC 74,098.80 72,000,00 68,262.36 234,759.70 Marketing / Advertising 1;206,67 6.000.00 8611.87 34,35140 Event Expenses - Other 0,00 0,00 0.00 47.66 Chaparral Square Dancers 0000 0.00 0.00 1,541.18 Paris Art & Wine Fest Exp 0.00 0.00 0.00 750.00 Tour de Paris Exp 0.00 OMO 0.00 1,436.78 Uncle Jessie's Exp 0.00 0.00 0.00 625.00 ASA 0.00 20,000,00 28,94038 37,358.48 SDBA Boat Races 7,000000 7,500,00 0= 507.90 Wings Over Paris Exp 0.00 0= (2,500.00) 0.00 Events Promotion I Funding 750.00 4.000,00 2,212.00 16,235,02 Baseball Fleld Lighting 0.00 0.00 0.00 11,855.86 Rent to, COC --1,12-00-00 --i-Lo-o"t) 1 =0.00 ------- 8,000.00 Total Operating Expenses 10L,100.80 129j.999.50 117,460.28 2,433.95 Operating Income (Loss) 46,096.80 32,500.50 ___19 067.79 7,106-34 NOT -HOT INCOME Miso Incorne 66.60 100.00 0.00 1.36 Trolley I Historical 375,00 300.00 0.00 1,800.00 ASA Booth Rentals 0= 0.00 0.00 600.00 Tour de Paris Income 2,165,00 2,600,00 935.00 15,155.52 Souvenir Sales 196.67 833,00 1,765,40 3,810.45 Interest Income 22.81 12.00 2246 147A3 Total Other Income 2,816.98 3,745.00. 2,742.45 2IL414.76 NOT -HOT EXPENSES Trolley Driver 0= 100.00 0.00 592.50 Trolley Expenses OZO 500.00 16.50 1,717.48 Trolley Insurance 175.82 175.00 162.32 1,30012 Souvenir Exp 68.40 100.00 207.00 5,002.00 Mtse NH Expense 0.00 OZO 7,49165 __ZI959-72 Total Not -Hot Expenses 24422 5715,00 7,88147 16.67242 Not Income (Loss) $ 47,669.56 LS L 35,370,50 $ 13,928.77 $ 219" 68 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Statement of Assets, Liabilities and Net Assets Modified Cash Basis June 30, 2020 ASSETS CURRENT ASSETS HOT Checking Not HOT Checking GBB CD 6303883 GBB CD 6303882 Liberty Money Market LNB CD 25490 Total Current Assets OTHER ASSETS Returned Checks Receivable Total Other Assets Total Assets LIABILITIES AND NET ASSETS CURRENT LIABILITIES Due to COG Due to LCC Due to Trail de Paris T -Shirt Payroll Liabilities Total Current Liabilities NET ASSETS Retained Earnings Net Income Total Net Assets Total Liabilities and Net Assets $ 96,087.00 107,972.32 28,113.88 101,476.82 51,862.86 51.030.70 �kIiF'•f�lt»11 35.00 35.00 $ 436,578.58 $ 1,803.23 5,697.54 10.00 744.08 8 254.85 397,905.85 30,417.88 428x323.73 $ 436,578.58 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Budget to Actual, Year to Date Modified Cash Basis For the 9 Months Ended June 30, 202C, Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris Visitor & Convention Council Budget to Actual, Current Month and Prior Year Period Modified Cash Basis For 1 Month Ended June 30, 2020 and 2019 and 9 Months Ended June 30, 2019 1 Month Ended 1 Month Ended 1 Month Ended 9 Months Ended Jun 30, 2020 Jun 30, 2020 Jun 30, 2019 Jun 30, 2019 Actual Budget Actual Actual REVENUE Hotel 1 Motel Occupancy Tax $ 0.00 $ 0.00 $ 15,769.64 $ 485,289.05 Hot Money Interest 0.00 0.00 290.33 _ 311.21 Total Revenue 0.00 0.00 18,059.97 485,600.26 OPERATING EXPENSES Utilities 0.00 0:00 0.00 34.56 Training 1 Education 0.00 0.00 0.00 130.00 Postage 55AB 100.00 28.81 512.88 Misc Expenses 320.83 400.00 31.71 313.21 D & O insurance 0.DO 0.00 0.00 1,435.33 Worker's Comp 0.00 0.00 0.00 707.33 Staff Ins./Retirement 652.54 709.00 1,073.29 5,951.96 Meetings & Hosting 0.00 0.00 274.71 637.88 Chamber Management 0.00 0.00 0.00 30,000.00 Out of Town Travel 0.00 0.00 0.00 1,125.48 Intown Auto/Exp Allowance 200.00 225.00 200.00 1,800.00 Membership Dues/Sub. 0.00 0.00 4,009.50 5,024.50 Audit 0.00 0.00 0.00 1,850.00 Bookkeeping 305.00 500.00 380.00 3,938.82 Payroll Expenses 6,659.88 6,836.00 6,211.20 58,975.58 ABBS Wage Reimburement 0.00 0.00 0.00 (1,632.56) Payroll Tax Expense 504.32 537.00 470.00 4,644.95 Office Expense 215.70 140.00 104.49 249.75 Communications 328.79 166.00 0.00 712.41 Historical Museum 3,500.00 3,500.00 0.00 0.00 Bank Service Charge 7.46 120.00 7.46 67.14 Credit Card Fee 387.36 166.50 281.69 1,556.61 Motel Tax Transferred to LCC 0.00 0.00 7,884.82 242,644.52 Marketing i Advertising 0.00 6,000.00 2,626.25 36,979.65 Event Expenses - Other 0.00 0.00 22.44 70.10 Chaparral Square Dancers 0.00 0.00 0.00 1,541.18 Paris Art & Wine Fest Exp 0.00 0.00 0.00 750.00 Tour de Paris Exp 0.00 0.00 395.91 1,832.69 Uncle Jessie's Exp 625.00 0.00 0.00 625.00 ASA 0.00 0.00 (99.00) 37,259.48 SDBA Boat Races 0.00 0.00 7,000.00 7,507.90 Events Promotion 1 Funding 3,750.00 4,000.00 600.00 16,835.02 Arts Allocation 0.00 0.00 7,000.00 7,000.00 Baseball Field Lighting 0.00 0.00 0.00 11,855.86 Pump Track 0.00 0.00 50,000.00 50,000.00 Rent to COC 1,000.00 1,000.00 1,000.00 9,000.00 Long Term Disability 253.23 0.00 0.00 0.00 Total Operating Expenses 18,785.59 24,399.50 89,503.28 541,937.23 Operating Income (Loss)(18,765.59) X24399.50) {73,443.31) (56,336.97) NOT -HOT INCOME Misc Income 0.00 100.00 0.00 1.36 Trolley l Historical 0.00 300.00 0.00 1,800.00 ASA Booth Rentals 0.00 0.00 0.00 500.00 Tour de Paris Income 520.00 1,000.00 4,550.00 19,705.52 TMBRA Bicycle Race 100.00 0.00 0.00 0.00 Souvenir Sales 249.75 833.00 603.62 4,414.07 Interest Income __ 1,130.63 12.00 18.39 _. 165.62 Total Other Income 2,000.38 2,245.00 5,172.01 26,586.77 NOT -HOT EXPENSES Trolley Driver 170.00 100.00 37.50 630.00 Trolley Expenses 0.00 500.00 15,254.07 16,971.55 Trolley Insurance 175.82 175.00 162.32 1,463.04 Souvenir Exp 0.00 500.00 459.00 5,461.00 Misc NH Expense __ _ 0.00 0.00 496.00 8,455.72 Total Not -Hot Expenses 345.82 1,275.00 16,408.89 32,981.31 Net Income (Loss) $ 117,111.03) $ (23,429.50) $ 84 680.19 $ _ 62 731.61 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 2nd guarterly LCC Report Date #ofAttendees Event 5/13/2020 25 TDP Meeting 5/15-5/17 500 Gun & Knife Show 5/31/2020 300 East Paris Baptist Church 6/1 thruG/3O 1,000 Lamar Appraisal District 6/20 and 6/21 100 Red Neck Ramble 6/25/2020 SO Municipal Band Practice 6/30/2020 30 Municipal Band Practice Love Civic Center Statement of Assets, Liabilities and Not Assets Modified Cash Basis April 30, 2020 ASSETS CURRENT ASSETS Love Civic Center $ 81,590.31 Reserved for Construction 161,600.00 Returned Checks Receivable 360.00 Liberty CD 59873 32,506.59 FF Money Market 37109 250,000.00 Due From VCC 16,879.89 Due from Others 32.82 Total Current Assets 642,869.61 Total Assets $ 542,869.61 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Due to CDC $ 148.00 Payroll Liabilities 1t049,53 Total Current Liabilities 119753 ----------- NET ASSETS Retained Earnings 530,494A5 Not Income 11,177.63 Total Not Assets 541.672.08 Total Liabilities and Not Assets $ 542,869.61 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are emitted and no assurance is provided Love Civic Center Budget to Actual, Year -to -Date Modified Cash Basis For the 7 Months Ended April 30, 2020 Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 7 Months Ended 7 Months Ended Apr 30, 2020 Apr 30, 2020 Variance % of Budget Annual Budget Actual Budget REVENUE Catering $ 0.00 $ 0.00 $ 0.00 0.00% $ 750.00 Motel Tax 164,949.24 182,000.00 (17,050.76) 90.63% 325,000.00 R.V. Hook Up 3,726.57 5,380.00 (1,653.43) 69.27% 10,000.00 Misc Income 0.00 0.00 0.00 0.00% 1,800.00 Rent 70,138.13 76,250.00 (6,111.87) 91.98% 100,000.00 Refunded Deposits (8,650.00) (81800.00) 150.00 98.30% (11,000.00) Booth Rental 0.00 0.00 0.00 0.00% 400.00 Tower Lighting 0.00 0.00 0.00 0.00% 500.00 Craft Expo Inc. 0.00 0.00 0.00 0.00% 3,000.00 Bicycle Rentals 1,379.67 1,425.00 (45.33) 9682 % 4,000.00 Total Revenue 231,543.61 256255.00(24,711.39) 90.36 % .034,450.00 Grp profit 231,543.61 256 255.00(24,711.39 90.36% 434,450.00 OPERATING EXPENSES Bank Service Charge 384.95 294.00 90.95 130.94% 500.00 Communications 2,609.23 2,919.00 (309.77) 89.39% 5,000.00 Office Expense 789.42 600.00 189.42 131.57% 600.00 Payroll Expenses 56,306.62 58,331.00 (2,024.38) 96.53% 100,000.00 Payroll Tax Expense 4,386.00 4,669.00 (283.00) 93.94% 8,000.00 Marketing/Advertising 0.00 0.00 0.00 0.00% 3,000.00 Audit 1,983.00 2,200.00 (217.00) 90.14% 2,200.00 Bookkeeping 2,986.68 3,500.00 (513.32) 85.33% 6,000.00 Membership Dues/Sub 324.00 200.00 124.00 162.00% 200.00 Electricity 16,139.53 23,331.00 (7,191.47) 69.18% 40,000.00 Water 2,019.30 2,919.00 (899.70) 69.18% 5,000.00 Gas 2,815.72 2,625.00 190.72 107.27% 4,500.00 Trash Disposal 3,359.65 3,065.00 294.65 109.61 % 5,250.00 intown Auto Exp Allowance 1,750.00 1,750.00 0.00 100.00% 3,000.00 Small Equipment 98.99 100.00 (1.01) 98.99% 1,000.00 Chamber Management 18,000.00 18,000.00 0.00 100.00% 18,000.00 Eiffel Tourer Lighting/Maint 0.00 0.00 0.00 0.00% 2,000.00 Building Maint.ISpis. 21,434.51 21,700.00 (265.49) 98.78% 99,000.00 Security 1,950.90 624.00 1,326.90 312.64% 1,250.00 Staff insdRetirement 5,088.92 4,956.00 132.92 102.68% 81500.00 Building Insurance 4,521.23 5,000.00 (478.77) 90.42% 51000.00 General Liability 3,067.05 5,000.00 (1,932.95) 61,34% 5,000.00 Workers Comp. Insurance 664.00 700.00 (36.00) 94.86% 1,400.00 Directors & Officers 1,435.33 2,000.00 (564.67) 71.77% 2,000.00 Long Term Disability 0.00 0.00 0.00 0.00% 210.00 Misc Expenses 637.38 1,020.00 (382.62) 62.49% 1,400.00 Interest Expense 0.00 0.00 0.00 0.00 % 7,500.00 Ground Maintenance 4,398.29 5,600.00 (1,201.71) 78.54% 8,500.00 Supplies 0.00 150.00 (150.00) 0.00% 3,000.00 Furniture & Fixtures 10.99 0.00 10.99 0.00% 0.00 Bicycles & Related Expenses 296.76 340.00 (43.24) 87.28% 1,500.00 Catering Exp 0.00 0.00 0.00 0.00% 1,700.00 Capital Improvements 0.00 0.00 0.00 0.00% 50,000.00 Cost of Issuance 63,500.00 0.00 63,500.00 0.00% 0.00 Cleaning 30.42 50.00(19.58) 60.84% 10,000.00 Total Operating Expenses 220,988.87 ._ 171,643.00346 6.87.67 128.76% 410,210.00 Operating Income (Loss) 10,554.74 84,612.00 (74,057.26) 12.47% 24,240.00 OTHER INCOME Interest Income 622.89 203.00 _ 419.89 306.84% 350.00 Total Other Income 622.89 203.00 419.89 306.84% 350.00 Net Income (Loss) 11,177.63 84,815.00 g3 637.37 _____13.18 % 24,590 00 Financial statement preparation service provided by Memory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Budget to Actual, Current Month and Prior Year Period Modified Cash Basis For the 1 Month Ended April 30, 2020 and 2019 and 7 Months Ended April 30, 2019 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 1 Month Ended 1 Month Ended 1 Month Ended 7 Months Ended Apr 30, 2020 Apr 30, 2020, Apr 30, 2019 Apr 30, 2019 Actual Budget Actual Acutal Revenue Catering 0.00 0.00 0.00 250.00, Motel Tax 0.00 0.00 0.00 166,497.34 R.V..Nook Up (573.56) 900.00 3,541.78 5,489.07 Rent (1,775.00) 4,750.00 2,602.94 84,014.04. Refined Deposits 0.00 (400.00) 0.00 (7,700.00) Booth Rental 0.00 0.00 200.00 200.00 Craft Expo Inc. 0.00 0.00 670.00 1,555.00 Bicycle Rentals 0.00 0.00 657.24 2,498.48 Total Revenue(2.348.66) 5,290.00 7,671.96 252,803.93 Operating Expenses Bank Service Charge 9.33 42.00 51.86 260.96 Communications 355.08 417.00 385.19 2,512.00 Office Expense 0.00 0.00 0.00 570.01 Payroll Expenses 7,443.01 8,333.00 7,227.87 53,375.33 Payroll Tax Expense 649.40 667.00 543.90 4,054.01 Marketing / Advertising 0.00 0.00 0.00 400.00 Audit 0.00 0.00 0.00 1,850.00 Bookkeeping 356.67 500.00 283.33 3,162.18 Membership DuestSub 0.00 0.00. 0.00 156.00 Electricity 1,947.07 3,333.00 4,112.78 18,009.00 Water 224.07 417.00 165.27 2,434.45 Gas 356.00 375.00 346.68 3,806.40 Trash Disposal 444.95 437.00 405.21 2,836.47 Intown Auto Exp Allowance 250.00 250.00 250.00 1,750.00 Small Equipment 0.00 0.00 0.00 556.84 Contracted Services 0.00 0.00 0.00 180.00 Chamber Management 0.00 0.00 0.00 18,000.00 Eiffel Tower Lighting/Maint 0.00 0.00 0.00 250.20 Building Malnt./Spls. 356.80 1,000.00 4,207.02 25,388.58 SeGyrity 58.95 104.00 482.95 1,112X5 Staff Ins./Rebrement 1,008.25 708.00 517.91 4,703.97 Building Insurance 0.00 0.00 0.00 4,277.09 General Liability 0.00 0.00 0.00 2,880.15 Workers Comp. Insurance 0.00 0.00 0.00 707.34 Directors $ Officers 0.00 0.00 0.00 1,435.34 Misc Expenses 35.60 80.00 0.00 371.33 Interest Expense 0X0 0.00 0.00 3,072.23 Ground Maintenance 0.00 600.00 582.50 4,660.00 Supplies 0.00 0.00 0.00 1,867.13 Bicycles 8 Related Expenses 0.00 0.00 0.00 51.55 Cleaning 0.00 0.00 0.00 1,012.77 Total Operating Expenses 13,498.18 17,263.00 19,86247 165,703.38, Operating Income (Loss) {16,843.74) (12,013.00) (11L880.81) 87,100.55 Other income Interest Income 21.22 _ 29X0 187.66 348.49 Total Other Income 21.22 .29.00 187.66 348.49 Net Income (Loss) $ (18,822.521 $11 984.00 $ .__.. 11702 -BB $ 87,449.04 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Statement of Assets, Liabilities and Net Assets Modified Cash Basis May 31, 2020 ASSETS CURRENT ASSETS $ 74,00 Love Civic Center $ 94,862.98 Reserved for Construction 161,600.00 Returrfed Checks Receivable 360.00 Liberty CD 59873 32,506.59 FF Money Market 37109 250,000.00 Due From VCC 76,841.71 Due from Others 32.82 Total Current Assets 616.104.10 Total Assets $ 61610410 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Due to COC $ 74,00 Payroll Liabilities 11681==97 ------------ � Total Current Liabilities 124297 NET ASSETS Retained Earnings 530,494.45 Net Income 8436668 Total Net Assets 614,861.13 Total Liabilities and Net Assets $ 616104�10 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Budget to Actual, Year -to -Date Modified Cash Basis For the 8 Months Ended May 31, 2020 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially alll disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 8 Months Ended 8 Months Ended May 31, 2020 May 31, 2020 Variance % of Budget Annual Budget Actual Budget REVENUE Catering $ 0.00 $ 0.00 $ 0.00 0.00% $ 750.00 Motel Tax 239,046.04 254,000.00 (14,951.96) 94,11% 325,000.00 R.V. Hook Up 3,726.57 6,280.00 (2,553.43) 59,34% 10,000.00 Misc Income 26.00 50.00 (24,00) 0,00% 1,800.00 Rent 83,450.63 81,000.00 2,450.63 103.03% 100,000.00 Refunded Deposits (8,850.00) (9,200.00) 350.00 96.20% (11,000.00) Booth Rental 0.00 0.00 0.00 0.00% 400.00 Tower Lighting 0.00 0.00 0.00 0.00% 500.00 Craft Expo Inc. 0.00 0.00 0.00 0.00% 3,000.00 Bicycle Rentals 1.482.23 1,575.00_ 9( 2.77) 94.11 % 4,000.00 Total Revenue 318,883.47 333,708.00 (14,821.83) 98.56 % 434,450.00 Gross Profit 318,883.47 _______L33,705.00 X14,821,53) 95.56% 434 460.00 OPERATING EXPENSES Bank Service Charge 394.28 336.00 58.28 117.35% 500.00 Communications 3,068.57 3,336.00 (267.43) 91.98% 5,000.00 Office Expense 832.60 600.00 232.60 138.77% 600.00 Payroll Expenses 64,394.34 66,664.00 (2,269.66) 96.60% 100,000.00 Payroll Tax Expense 5,002.77 5,336.00 (333.23) 93.76% 8,000.00 Marketing / Advertising 0.00 0.00 0.00 0.00% 3,000.00 Audit 1,983.00 2,200.00 (217.00) 90.14% 2,200.00 Bookkeeping 3,385.02 4,000.00 (614.98) 84,63% 6,000.00 Membership Dues/Sub 324.00 200.00 124.00 162.00% 200.00 Electricity 18,301.99 26,664.00 (8,362.01) 68.64% 40,000.00 Water 2,191.22 3,336.00 (1,144.78) 65.68% 5,000.00 Gas 3,094.89 3,000.00 94.89 103.16% 4,500.00 Trash Disposal 3,804.60 3,502.00 302.60 108.64% 5,250.00 Intown Auto Exp Allowance 2,000.00 2,000.00 0.00 100.00% 3,000.00 Small Equipment 98.99 100.00 (1.01) 98.90% 1,000.00 Chamber Management 18,000.00 18,000.00 0.00 100.00 % 18,000.00 Eiffel Tower Lighting/Maint 0.00 0.00 0.00 0.00% 2,000.00 Building Maint./Spls. 22,072.62 22,700.00 (627.38) 97.24% 99,000.00 Security 2,009.85 728.00 1,281.85 278.08% 1,250.00 Staff Ins./Retirement 5,620.82 5,664.00 (43.18) 99.24% 8,500.00 Building Insurance 4,521.23 5,000.00 (478.77) 90.42% 5,000.00 General Liability 3,067.05 5,000.00 (1,932:95) 61.34% 5,000.00 Workers Comp. Insurance 664.00 700.00 (36.00) 94.86% 1,400.00 Directors & Officers 1,435.33 2,000.00 (564.67) 71.77% 2,000.00 Long Term Disability 0.00 0.00 0.00 0.00% 210.00 Misc Expenses 656.36 1,100.00 (443.64) 59.67% 1,400.00 Interest Expense 0.00 0.00 0.00 0.00% 7,500.00 Ground Maintenance 4,398.29 6,200.00 (1,801.71) 70.94% 8,500.00 Supplies 0.00 150.00 (150.00) 0.00% 3,000.00 Furniture & Fixtures 10.99 0.00 10.99 0.00% 0.00 Bicycles & Related Expenses 296.76 340.00 (43.24) 87.28% 1,500.00 Catering Exp 0.00 0.00 0.00 0.00% 1,700.00 Capital Improvements 0.00 0.00 0.00 0.00% 50,000.00 Cost of issuance 63,500.00 0.00 63,500.00 0.00% 0.00 Cleaning 30.42 50.00 19.58 60.84% 10,000.00 Total Operating Expenses 238,169.99 188,906.00 46r283.99 124.49% .__.__A10,210.00 Operating Income (Loss) 83,723.48 144,799.00(81,075.82) 57.82 % 24,240.00 OTHER INCOME Interest income _ 643.20 232.00 411.20 277.24% 350.00 Total Other Income 643.20 232.00 411.20 277.24% 350.00 Net income (Loss) 84,366.68 145,031.00 60 664. 58.17 % 24590.00 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially alll disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Budget to Actual, Current Month Prior Modified Cash Basis t ,, by ft AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of aecounfing are omitted and no assurance is provided 1 Hoath Ended 1 Month Ended 1 Month Ended 6 Mouths Ended May 31, 2020 May 31, 2020 May 31, 2019 May 31, 2019 Actual Bridget Actual Acutel Revenue Catering 0,00 0.00 0,00 260.00 Motel %x 74,096,60 72,000.00 66,262.36 234,759.70 R.V. Hook Up 0.00 900.00 1,663.45 7,172,62 Mice; Income 26.00 50.00 0.00 0.00 Rent 13,312.50 4,760,00 10,636.69 94,650.73 Refunded Deposits (200.00) (40040) (400.00) (6,100,00) Booth Rental 0.00 0.00 0,00 200.00 Craft Expo Inc. 0.00 0.00 1,035.00 2,590.00 Bicycle Rentals 10156 692.64 3,391.32 w _ _.._150,00 Total Revenue 87,339066 77,450000 8,110.34 334,914.27 Operating Expenses Craft Expo 0,00 0.00 200,00 200.00 Bank Service Charge 9.33 42.00 39.66 300,62 Communications 46934 417,00 390.74 2,902.74 Office Expense 43.16 0.00 36,66 606.139 Payroll Expenses 6,067.72 6,333.00 7,224.74 60,600.07 Payroll Tax Expense 616.77 667,00 547.02 4,601.03 Marketing / Advertising 0.00 0.00 0.00 400.00 Audit 0.00 0.00 0.00 1.664,00 Bookkeeping 396.34 600.00 396.66 3,556.64 Membership Dues/ Sub 0.00 0.00 0.00 156.00 Electricity 2,162.46 3,333.00 51.06 16,060.06 Water 171.92 417,00 165.27 2,599.72 Gas 279.17 375,00 167.04 3,993A4 Trash Disposal 444.96 437A00 405.21 3,241.66 Intown Auto Exp Allowance 250.00 250.00 250.00 2,000.00 Small Equipment 0.00 0.00 0.00 556.64 ABA 0.00 0,00 102,00 102.00 Contracted Services 0,00 0.00 0.00 160.00 Chamber Management 0.00 0,00 0.00 16,000.00 Eiffel Tower r Ughting/ alnt 0.00 0,00 0.00 250.20 Building alnt./6pls. 636.11 1,000.00 1,736.56 27,125.14 Security 56.95 104.00 56.95 1,171= Staff Ins./Retirement 531.90 706.00 517.91 5,221.56 Building Insurance 0.00 0.00 0.00 4,277.09 General Liability 0.00 0.00 0.00 2,660.15 Workers Come. Insurance 0.00 0.00 0.00 707.34 Directors & Officers 0.00 0.00 0,00 1,435.34 Misc Expenses 16.96 60.00 307.00 676.33 Interest Expense 0.00 0.00 1,295.04 4,367.27 Ground Maintenance 0.00 600.00 662.50 5,242.50 Supplies 0.00 0.00 461.50 2,346.63 Bicycles & Related Expenses 0.00 0,00 955.63 207.16 Meaning 0.00 0.00 595.00 1,607.77 _ Total Operating Expenses 14,179.12 17,263.00 16.72&59 161,429.97 Operating Income (Loss) 73166.74 64,167,00 66383-75 3484-30 Other Income Interest Income 20.31 29.00 _.176;96 627.47 Total Other Income 2.0.31 29.00 176096 527.47 Net Income (Lose) S __ 73,169.05 $ 60,216.00 $ _ ,562.73 154,011,77 by ft AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of aecounfing are omitted and no assurance is provided Love Civic Center Statement of Assets, Liabilities and Not Assets Modified Cash Basis June 30, 2020 ASSETS CUR RENTASSETS Love Civic Center $ 154,089.21 Reserved for Construction 161,500.00 Returned Checks Receivable 360.00 Liberty CD 59873 32,506.59 FF Money Market 37109 250,584.17 Due From VCC 5,697.54 Due from Others 32.82 Total Current Assets 604,770.33 Total Assets $ —!"Ma LIABILITIES AND NET ASSETS CURRENT LIABILITIES Due to COC $ 327.23 Payroll Liabilities 1,143.80 Total Current Liabilities 1471.03 NET ASSETS Retained Earnings 530,494.45 Net Income 72,804.55 Total Net Assets 603,299.30 Total Liabilities and Not Assets $ 604,770.33 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Budget to Actual, Year -to -Date Modified , ,�v-fii-accordance with in-ofessional standards issued by the AICPX substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided 9 Months Ended 9 Months Ended Jun 30, 2020 Jun 30, 2020 Variance of Bridget Annual Budget Actual Budget REVENUE Catering 0.00 0.00 0,00 0.00 $ 750.00 Motel Tax 239,043.04 254,000.00 (14,951.95) 94.11% 325,000,00 R,V, Hook Up 3,726,57 7,150.00 (3,453.43) 51,90 % 10,000.00 iso Income 26.00 50.00 (24,00) 0,00 % 1,600,00 Rent 37,069.35 95,750,00 1,319.35 101.64% 100,000,00 Refunded Deposits (10,050.00) (9,600.00) (45000) 104.69% (11,000m) Booth Rental 0,00 0,00 0.00 0.00 400.00 Tower Lighting 0.00 0,00 0.00 0.00% 500.00 Craft Expo Inc. 0.00 0.00 0,00 0.00% 3,000,00 Bicycle Rentals X695,171,675.00 179,63 90.41 % 4,000,00 Total Revenue 321,51513 339,255.00 (17aT 9.37) 94.77% 434460.00 Gross Profit 321,515,13 339,255.00(17x739.877 94.77 434 0J10 OPERATING PNSBS Bank Service Charge 403,61 377.00 26,61 107.06% 500,00 Communications 3,526.76 3,752.00 (225.24) 94.00% 5,000.00 Offire Expense 532.60 600,00 232.60 138.77% 600.00 Payroll Expenses 72,364.13 74,996.00 (2,633.67) 96.49% 100,000.00 Payroll Tax Expense 5,609.35 6,002,00 (392.15) 93.47% 5,000,00 Marketing i Advertising 0,00 0,00 0.00 0.00 3,000.00 Audit 1,983,00 2,200.00 (217.00) 90.14% 2,200,00 Bookkeeping 3,690,02 4,500,00 (509.96) 82.00% 6,000,00 Membership Dues/ Sub 324.00 20000 124.00 162.00 200,00 Electricity 20,629,26 29,995,00 (9,365.74) 66.77 % 40,000.00 Water 2,363.14 3,752.00 (1,366.50) 62.98% 5,000.00 Gas 3,094.59 3,375.00 (250.11) 91.70% 4,500,00 Trash Disposal 4,.249.55 3,939,00 3%55 107.88% 5,250.00 Intown Alta Exp Allowance 2,250.00 2,250,00 0.00 100M0 3,000.00 Small Equipment 454.36 500,00 (45,64) 9017 % 1,000.00 Chamber Management 15,000.00 151000,00 0.00 100.00% 18,000.00 Eiffel Tower Ugh5ng/ aint 0.00 0.00 0.00 0.00% 2,000.00 Building MainL/Spls, 22,955,54 23,700.00 (744.16) 96.86% 99,000.00 Security 2,065.50 632.00 1,236AD 245.65 1.250.00 Staff Ins,lRetlr ment 6,205.46 6,373.00 (164.54) 97.42% 5,500,00 Building Insurance 4,521.23 5,0000o (47517) 90.42 % 5„000.00 General Liability 3,067.05 56000.00 (14932.95) 61.34% 5,00000 Workers Come. Insurance 664.00 700x00. (36.00) 94.86% 1,400.00 Directors & Officers 1,435.33 2,00000 ( 67) 71,77% 2,000,00 Long Term Disability 253.23 210,00 43.23 120.59% 210,00 Mise Expenses 776.26 1®150.00 (403.74) 65.78% 1,400.00 Interest Expense 0.00 0.00 0.00 0.00 7,500,00 Ground Maintenance 4,395.29 6,500,00 (2,401.71) 64.68% 5,500,00 Supplies 0.00 1%00 (150.00) 0.00 3,000.00 Furniture 5 Futures 10.99 000 10,99 0.00% 0,00 Bicycles & Related Expenses 296.76 340,00 (43,24) 87.28% 1,500,00 Catering Eire 0.00 0.00 0,00 0.00% 1,700.00 Capital Improvements 0,00 0.00 0.00 0.00% 50,000.00 Cast of Issuance 63,500.00 0.00 63,500,00 0.00% M00 Cleaning 30.42 50.00 19.56 _60.64 % 10,000.00 Total Operating Expenses 249,961,63 206,775,00 _ _ 43 83.83 120.88% 410,210»0 Operating Inc (Loss) 711553.30 132,477.00 Al '11 24,240.00 ___1!0,923.70 OTHER INCOME Interest Income _..®__.._ 1,251.56 _ 261,00 990,55 479.52% 350,00 Total Other income 1,251.55 261,00 990.65 479.52% 350,00 Not Income (Loss) 72,504.55 132,733.00 �� 59,933.15 54.05 _ 4 690,00 ,�v-fii-accordance with in-ofessional standards issued by the AICPX substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Love Civic Center Budget " Prior Period BasisModified Cash Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided °I Month Ended 1 Month Ended 1 Month Ended 9 Months Ended Jun 30,2020 Jun 30, 2020 Jun 30, 2019 Jun 30, 2019 Actual Budget Actual Action Revenue Catering 0.00 0.00 0.00 250.010 Motel Tax 0,00 0.00 7,884.82 242,644,52 R.V. Book Up 0,00 900.00 8,773.11 15,945.63 Rent 3,618,72 4,750.00 8,877.62 103,628.55 Refunded Deposits (1,200,00) (400.00) (1®000,00) (9,100.00) Booth Rental 0.00 0.00 0,00 200.00 Craft Expo Inc. 0,00 0.00 845.00 3,435.00 Bicycle Rentals 21214 300.00 787.62 4,178.94 Total Revenue 2,631.66 6®550.00 26,1 8.37 361,082.64 Operating Expenses Craft Expo MOO M00 0.00 200.00 Bank Service Chame 9.33 41,00 41.73 342.55 Communications 458,19 416.010 301.56 3,204.29 Office ense 0,90 0.00 86.03 692.92 Payroll Expenses 7,969.79 8,334.00 8,182.79 68,782, Payroll Tax Expense 607.08 666.00 625.79 5,226.82 Marketing t Advertising 0,00 0.00 0.00 400.000 Audit 0.00 0.00 0.00 1,850.00 Bookkeeping 305.00 500.00 380.00 3,938,84 Membership Dues/Sub 0.00 0.00 0.00 156.00 Electricity 28327.27 3,334.00 3,712.97 21,773.05 Water 171.92 416.00 165.27 2,764.99 Gas 0.00 37&00 66.15 4,059.59 `rash Disposal 444.96 437.00 40521 3,646.89 Intown Auto Exp Allowance 250.00 250.00 250.00 2,250.00 Small Equipment 355.37 400.00 0.00 5561 ASA 0,00 0.00 0.00 102.00 Contracted Services 0.00 6m00 0.00 160.00 Chamber Management 0.00 0.00 0.00 18,000.00 Eiffel Tower Lighting/alai 0.00 0.00 0.00 250.20 Building Malnt.tSpla, 883.22 1,000.00 1,603.28 28,928x42 Security 58.95 104.00 58.95 1,226.95 Staff his./Retirement 587.64 709,00 1;003042 6,225.30 Building Insurance 0.00 0.00 0.00 4,277.09 General Liability 0.00 0,00 0.00 2,880,15 Workers Comp. Insurance 0.00 0.00 0.00 707.34 Directors & officers 0,00 0.00 0.00 1,43534 Long "term Disability 253.23 210,00 0.00 0.00 isc Expenses 119.90 80,00 48.16 726.49 Interest Expense 0,00 0.00 0.00 4,367.27 Ground Maintenance 0.00 600.00 582060 5,825,00 Supplies 0.00 0.00 0.00 2,348.63 Bicycles 8, Related Expenses 0.00 0.00 13,84 221.02 Cleaning ___ 0.00 rim 1, 6.60 _ 3,594.37 Total Operating Expenses 1.84 17,872.00 19,714. 1,1 821 operating Income (Loss) 12,170.18) (12,322.00) 61464.13 159 ,9 38.43 Other Income Interest Income 608.35 29.00 311.49 838.96. Total Other Income 60BAS J0 311.49 838.96 Not Income (Loss) L 11.,"961 e83 (12®295.00$ 67faS.62 1601777839 Financial statement preparation service provided by Malnory, McNeal & Company PC, CPAs in accordance with professional standards issued by the AICPA, substantially all disclosures ordinarily included in financial statements prepared in accordance with the income tax basis of accounting are omitted and no assurance is provided Paris—Lamar County Health District 400 West Sherman Street, Paris, Texas 75460-5646 Health District: (903) 785-4561 and Fax: (903) 737-0978 Women, Infant and Children (WIC): (903) 784-1411 and Fax: (903) 784-1442 dPgrl at ccm[ ... . ..................... .. ...... . _--l-L Paris -Lamar County Board of Health Regular Meeting The Paris -Lamar County Board of Health met for a regular session on Monday, June 15th, 2020. See the following chart for board members in attendance and not in attendance. Name In Attendance Not in Attendance Mrs. Susan Bellene x Dr. Jay Carpenter x Dr. Eric Salzman, Vice -Chairman x Mrs. _Nanc I x Mrs. Connie Stauter, SeqTtUr x Dr. Marc White, Chairman x Dr. Ross Williams x Also in attendance were Mrs. Gina Prestridge and Ms. Cheryl King. Convene into Open Session - * Dr. Marc White called the meeting to order in open session at 5:35 p.m. 2. Approval of Minutes from PRIOR meeting(s) - Nancy Stallings made the motion to approve the minutes from the April 20th, 2020 meeting and were seconded by Dr. Eric Salzman for approval. Motion carried. 5 yay, 0 nay. 3. Discuss and possible act on — COVID-19 Updates -Mrs. Prestridge advised the board of approximately 200 positive COVID-19 cases in Lamar County. Epidemiologist Update — Mark Lueke terminated on May 14th, 2020. Contracted with Erin Barnes that works at PRIVIC to be a contact tracker. Public Information Request - Mrs. Prestridge advised we have a public information request (PIR) for Walmart and Septic permit installation records on 7112 Heather Lane in Paris, Texas. Mrs. Susan Bellene made the motion to approve the PIR and was seconded by Mrs. Nancy Stallings. Motion carried. 5 ayes, 0 nays. ("1'q'u1xrfl:Y B"aard, ofillealth Mei�i,'ibe�rs h, r , �, I z n n,,, 4, F, (i,cnmdie Suautc r 21010 'I"fl) Vice,4,Myirman PrIErics, Nancy Stallinf;s, r�,,m3 D'Y", A"b"),SS lvvflh'�Afflls fl''d) YDr. Jay ""wj 'Su's"@u Ek"flf"IMP p", acceptBoard Member Applications — Dr. Mark White made the motion to Putnamapplications of Mitzie Ruth Pirtle and Dr. Russell Walker positions previously held by Connie '" ' and Dr. Eric Salzman, motion for approval. Motion yd ;" r 0 " DSRIP approve bonus rseconded by Nancy Stallings a, Prior Month(s) Monthly Report, Prior () Clinic Numbers, PriorMonth(s) Treasurer's Report, Profit and Loss - in Mayreports 1. WIC served1,533 plus (1,222 = Lamar, 311 = Houston) 2. WIC hadrive-f r clients restaurant3. Health District served 464 clinical clients 4. Health District Issued 22 ed 4 complain 5. Health District Issued 5 septic permits 2 complaints 6. Reported rabies 7. Total liability and equity is approximately: $1,632,000. New business to be placed on next agenda for discussion — Training Requirement for New Members 11111111111rill 11111111111 111111p 111 111111111! 111!111�11 �11�� 5. Adjourn meeting to be adjourned at 6:00 p.m. Motion carried, 5 ayes, " Respectfully submitted by- Fharl (Xin At the July 20th, 2020 Board of Health Meeting, Dr. Ross Williams made the motion and was seconded by Mrs. Nancy Stallings for the PLCHD board approved June 15th, it minutes to be submiftedto the Citv Clerk ine City Hall Annex, located at 150 S.E. 1st Street, Paris, Texas, for filing. ..,...,....._..............._....._._....,_........._...._...._....,................_...__...._..__.®........_.....__....... _...._........._......._.._..._.,.......... ........... _._.._________.,.,.,_.,................ ._._...a........_..._....m............ .�....._,......._�_.,..._..._.�....e.._m..._�.�...................,... _._.......�.....�..��....._._.. 1111ailis rinA;;,uri Cman,t r Bc�ard oEIffealth,, D17uri.ub 1'm e"Lraarf'aaaunn)i ..]f)a ma rc, 111011, it „v, . oa. ., ,,t G k unu(...1.,,i F, o.e 5",aaizfan7n'11"e.creen'ry - co; pnIn7e, Is'a i'4anc,y GNU"lIIi APU��t,<t aera r�s+.r r+cs .µ,: ,,q Ilyyl.MY,ss vviU1l itvrl,,U 3f`, jkiyY U aaRe'j H",R'H�ie (rrr�i�a. z,., ru�i."�r-. �.p �VPa'e«APII 113, IfU09'GAB rr .i�.zz,.a�r. n.?•,��m�p MINUTES MAIN STREET ADVISORY BOARD Tuesday, June 99., 22002200 4:30 PM Present: Absent: Glee Emmite, Chair Laurie Redus Carolyn Patterson William Walker John Brazile - via Zoom Kaydee Tate - (Resignation has been accepted.) Kari Daniel - via Zoom Becky Semple - Chamber representative Grayson Path - City Manager Paula Portugal, Council Liaison Cheri Bedford, Main Street Manager AGENDA 1. Glee Emmite called the meeting to order at 4:40 PM, June 9, 2020, in the City Council. chambers, Two members were present in person. Due to the COMM -19 pandemic, two members participated by Zoom, an internet meeting platform, Four board members participated in the meeting. 2. Review and approve minutes --- A. motion to approve the May 2020 minutes was made by John Brazile, second by Carolyn Patterson, motion carried, 3. Board member reports - Reports were tabled by the president., 4. Updates from Community Partners - Becky Semple from the Chamber of Commerce - 1.) Ladies Pro Golf competition at Paris Golf & Country Club with 85 young ladies playing, is planned for June 19. Their packets will. include downtown coupons for shopping. 2) June 201 is the Red Neck Scramble for senior adults learning safety tips for riding their motorcycles. 3) The Eiffel "Power Roundup photo competition featuring downtown dollars gift certificates is in progress. 4) The Red Ribbon Unity project continues until the stores can fully open again. The ribbons will be tied together as a celebration on the Plaza at that time. 4) The ribbon cutting for Cottonwood Ba m Venue (wedding venue) is planned for June 181, Glee Emmite - 1) H -PC No May meeting due to Covid- 19. 2) PDA will meet June 101. The "shopper receipts program" with the PDA merchants will have the drawing for downtown dollars on June 1.51. 5. Coordinator's Report - Cheri Bedford reported the following. 1.) Plaza beautification continues, 2) Two new businesses downtown include Mustard Seed Boutique and a coff.ee shop/book store combination, 3) Walt Ree p has applied for a $2,500 fagade grant for his new .re. on Clarksville St. It will contain four short term rentals on the top floor, restaurant on the main floor and a speak-easy downstairs. 4) Rigby's Cigar Shop will likely open around the first of the year. 5) Ten scholarships for the Destination Creation. course are available. Glee Emmite reported that the course was beneficial for her, and Walt Reep gained some great ideas from the course. 6) The Putt Putt Golf Challenge will be held downtown June 26-27. All activities will be outside due to COVID-19. 7) Wine Fest is rescheduled for September 191. There will be a promotions meeting next week for detailed planning. 8) The Plaza had trees added in May with additional landscaping planned for next week. 6. With no other business, Carolyn Patterson made a motion to adjourn, second by Glee Emmite, motion carried. The meeting was adjourned at 4:59 PM. Respectfully submitted, Carolyn Patterson Secretary, Main Street Advisory Board Approved thisda y of r._- _b _ � � ° 12020. el ��=i! Paris Public; library Advisory Board Meeting Minutes June 17, 2020 Opening: The regular meeting of the Paris Public Library Advisory Board was called to order at 4:01 pm. Present: Board members present were Carol James, Denise Kornegay, Marilyn Threadgill,Melanie lough filler, Rebecca Umphrey, and director Priscilla McAnally, Wendy Hamaker and Ashley Lassiter were absent. 1. Approval of Minutes The minutes oft e previous meeting were unanimously approved, 11. blew Business: A. The director updated the board on the library reopening and COVID- 19 procedures the staff are following - masks, frequent cleaning/disinfecting, limited computer use, etc. & New staff member MaryAnn Maxfield joined the library as the new part-time Clerk I C. The director went over the proposed FY 2020-2021 budget for the library. I o terms of Denise Komegay, Rebecca Umphrey, Ashley Lassiter, and Wendy Hamaker expire in June leaving four vacancies on the board. The City Council has appointed Jennifer Cullum and Steve Hellmann to fill two of the four vacancies. 111, Old Business: lvPresentations A. Budget Report, There were no unusual expenditures and spending is on track for the year, B. Statistical Report. Due to the library's closure from March 25 through May.] 4 due to COVID- 19 pandemic materials circulation and visits were down substantially. V. Friends of the Library: VI. Director's Remarks The Reavis Z. Wortham "Come & Go Book Signing" on June 13 had 37 people during the two flour period of the signing. The next meeting will be July .15. .Adjournment: Meeting adjourned at 4:25 p.m. Submitted by Priscilla McAnally for Ashley Lassiter, Secretary PARIS ECONOMIC DEVELOPMENT CORPORATION SPECIAL MEETING Paris City Council Chambers 107 East Kaufman St. Paris, Texas 75460 Fn:dav, June 12 2020 3:30 O'CLOCK P.M MINUTES Board Members Present: Staff Present: Tim Hernandez, Chairman Chris Stout, Economic Development Associate Mihir Pankaj, Secretary/Treasurer Paula Brownfield, Administrative Assistant Shay Bills, Vice -Chairman Marion Hamill. (left at 6:40 p.m.) Ex Officios: A.J. Hashmi Grayson Path, City Manager (Left at 3:31 p.m.) Legal Counsel: Stephanie Harris (Left at 3:31 p.m.) Call to Order. Mr. Hernandez called the special meeting of the Paris Economic Development Corporation to order at 3:30 p.m. on June 12, 2020. Invocation Ms. Bills gave the invocation. Citizens' In iut Mr. Hernandez invited those present to speak during Citizens' Input. No one came forward and the Citizen's Input was closed. Convene into Executive Session: (a) Pursuant to Section 551.074 of the Texas Government Code: 1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or employee: or 2) to hear a complaint to charge against an officer or employee. * Review and possibly select executive director from candidates Chairman Hernandez convened the Board into Executive Session at 3:31 p.m. Reconvene into Og en Session and oossibly take action on items discussed in Executive Session. Chairman Hernandez reconvened the Board into Open Session at 6:47 p.m. No action was taken. PEDC Board Meeting Minutes June 12, 2020 Page 2 of 2 Dr. Hashmi made a motion to adjourn, Ms. Bills seconded the motion. Vote was 4 -ayes to O - nays, The meeting adjourned at 6:48 p.m. ffgmz�W \'S Paula Brownfield Administrative Assistant Paris Economic Development Corporation PARIS ECONOMIC DEVELOPMENT CORPORATION MONTHLYIEE TING M�M-W I'll —MMUTt 4-TTWOU7 107 East Katifinan St. Paris, Texas 75460 Tuesda.yJude 16,202O 5-15 Q'CILQ(LK P.At. Board Members Present: Tim Hernandez, Chairman Shay Bills, Vice -Chairman Mihir Marion Hamill AJ. Hashmi tIffealt" Pam Anglin, PJC President Grayson Path, City Manager Paul Allen, President Lamar County Chamber Steve Clifford, Mayor Staff Present: Chris Stout, Economic Development Associate Paula Brownfield, Administrative Assistant Guest(s) Present: Mary Madewell, The Paris News Fred Leicht, Digital Light and Sound Chris Ghaly, Digital Light and Sound Rena e Stone, City Council Member Linda Knox, City Council Member Gene Anderson, City Finance Director Josh Bray, Citizen Bill Strathern, Citizen City Council Liaison: Paula Portugal Clayton Pilgrim Mr. Hernandez called the monthly meeting of the Paris Economic Development Corporation to order at 5:15 p.m. on June 16, 2020. Invocation Ms. Bills gave the invocation. Ci zens'ln)ut Mr. Hernandez invited those present to speak during Citizens, Input. No one came forward and the Citizen's Input was closed. 202 Monthl, Meeting- --A the S��jj�hqd and June 9 2020 Dr. Hashim made a motion to approve the minutes as presented, Ms. Bills seconded the motion, Vote was 5 -ayes to 0 - nays. PEDC Board Meeting Minutes June 16, 2020 Page 2 of S Discuss. and ossibl a��rove Mai 2020 Financials Mr. Pankaj stated that one of the larger expenses was for $10,000.00 to The PACE Group. Under Land Development, Brush Tech Landing clearing for $41,125.00 is part of the clearing and cleanup of some of the properties we own. Mr. Hernandez stated that the COV -ID has not affected our sales tax revenue. Dr. Hashmi made a motion to approve the May financials. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Presentation of otential New Industt, Mr. Hernandez asked for the presentation from GreenLeicht Studios. Mr. Fredie Leicht with GreenLeicht Studios and Digital Light and Sound came forward to give an overview of the industry along with a description of the type of location they are looking for. The company would build a 900,000 sq. ft. facility with sound stages, a backlot, motion capture studio and offices. Mr, Leicht described the impact to the community as wide spread because it encompasses new industry, job growth, economic stimulus, tourism and education. The company would like the City and the PEDC to consider what incentives would be made available if they chose Paris. Discuss andossibla rove re uestin that Cit , Council allow thecot'oration toost )one the PEDC Plan of Work until a new Executive Director is hired. - Mr. Pankaj stated that the Board would like to work with the new Executive Director on a plan of work for the PEDC. This would be one of the first items to accomplish when the new Executive Director has been hired. Mr. Hernandez said the Board wants the new person to be involved in the process. The plan of work will be postponed at least to the end of July, if not August or September. Discuss and review the actions of PEDC board member Dr. Hashmi, :laced on the mends bar Dr Hashmi himself. Dr. Hashmi read parts of the item he put on the agenda. He stated that he and Mr. Hernandez did not offer incentives to Turner Pipe. Dr. Hashmi presented a timeline with phone records of who he talked to and a summary of each call. A phone call on April 8b had Dr. Hashmi, Mr. Hernandez and Mayor Clifford representing Paris; and for Turner Pipe had Mr. Landry and another Turner executive. This call indicated that Paris was concerned for Turner, but Dr. Hashmi stated that at no time did we offer an amount of money. On April 15& an email was sent to us asking for financial help. This was put on the PEDC agenda for discussion at the April 21St Board meeting. At the meeting we did not make any financial commitments to Turner. Dr. Hashmi stated that no bylaw of the PEDC was broken and no bylaws of the City Council were broken. At the May 12th Board meeting the PEDC Board voted to approve $400,000.00 in job incentives with $8,000.00 per job being offered for 50 jobs. There was no hidden agenda when coming up with this dollar amount. Dr. Hashmi went on to say that at no time did he state a dollar amount to Turner, but he did say that he supports Turner and what they do in our community. Discuss and .ossibl a stove Chan es to the PEDC l3laws including but not limited to: a. Increasing number of Board members to seven, including one seat with a one-year term to be filled by a City Councilor and making such other revisions as may be necessary to enable this change. Mr. Hernandez stated his opinion is increasing the Board from five to seven members is a good idea. It is easier to appoint committees with seven members and when two Board Members are absent from a meeting it can give more power to those attending the meeting. Seven members at -large with no City Councilor is beneficial to the Board. Mr. Hernandez asked the Board their thoughts on adding more Board Members. All were in favor of expanding the Board to seven members, but felt that having a City Councilor as one of the Board Members would be a conflict of interest. Mr. Hernandez stated that the next step is to amend our bylaws to have seven at -large members. Dr. Hashmi made a motion to approve amending the PEDC Bylaws to increase the members from five to seven. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays. PEDC Board Meeting Minutes June 16, 2020 Page 3 of 5 b. Requiring City Council approval prior to the corporation's borrowing funds or incurring any indebtedness. Mr. Hernandez stated that he agreed with receiving Council approval before taking on debt. The Board agreed and had no other comments. Dr. Hashmi made a motion to approve requiring City Council approval prior to borrowing funds and incurring debt. Mr. Pankaj seconded the motion. Vote was 5 -ayes to 0 -nays. c. Removing the provision that the City Attorney act as the legal representative of the corporation. Mr. Hernandez said that having a City Councilor on the Board is a conflict of interest, so is having the City Attorney as our attorney. Dr. Hashmi agreed to the PEDC having its own attorney. Mr. Pankaj pointed out that it is included in the new budget, if approved. Mr. Hernandez pointed out that an attorney would be put on retainer. Dr. Hashmi made a motion to approve removing the City Attorney as a legal representative of the PEDC. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays d. Remove the provision designating the mayor of the City of Paris as an ex officio member. Ms. Harris stated that this item did not need to be addressed, since the Board approved Item a. without including a Council member on the Board. The Mayor will continue to be an Ex Officio member. Mr. Hernandez will table this item until the bylaws amendments have gone before the City Council. Discuss and ossibty a a )rove retaining' outside council for the PEDC eontin ent on .Citi° Council's a royal of rea nested bwlaws revisions. g� Mr. Hernandez stated that approving this item will allow him to negotiate retaining outside council. Dr. Hashmi made a motion to approve the Chairman to retain outside council for the PEDC. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss and �ossibl� a � rove on join = tiro a resolution of American SoiralWeld Pi �e. Mr. Stout said that we were made aware of items on the property that still needed to be removed. Since there is more information coming in he recommends the Board table this item. Mr. Hernandez told the Board a few manholes were found on the property and our attorney is looking at the master agreement. Mr. Pankaj made a motion to table this item. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Review and discuss Kirin an outside consultant to review current contracts and adherence to contracts and the economic im act to communit hnd related olicies and ,arocedures. Mr. Hernandez would like to have an outside consultant review our current contracts for compliance. An outside party could give us a better idea of the economic impact these contracts create. The Board agreed an outside consultant should be explored. Disenss and aeassibI a :rove the 2020-2021 PEDC Bud yet. Mr. Pankaj pointed out the Personnel portion of the budget is estimated at 2% more than the current year. Going on to the Administration expenses, we adding $10,000.00 to Moving Expenses for the new Executive Director. Contract Services — Legal Fees went up to $25,000.00 for retaining an attorney for the PEDC. Mr. Hernandez pointed out the Machinery and Equipment went up to $15,000.00 for the purchase of new computers and software. Mr. Pankaj showed that Telephone/Communication was increased because of the Board iPads. Marketing expense has $10,000.00 budgeted to Lamar County Days 2021, this event occurs every two years. The Total Operating Expenses went up by 10% for next year. Direct Business incentives show new industries coming in with cash for jobs. Debt Service stays the same. New Industry Projects show our part of American SpiralWeld expenses completed. Land Development is PEDC Board Meeting Minutes June 16, 2020 Page 4 of 5 $100,000.00 for improvements that are not completed until next year. Our total budget shows an 8% decrease in spending. To be conservative, the Tax Income for next year is staying the same in our budget, Dr. leas asked if the PEDC needed all the money that is proposed in the Marketing Budget. Mr. Hernandez stated that we left the marketing amount the same; even though conferences were not attended over the last several months. He went on to say that the amourit was most likely more than needed in Marketing. Dr. Hashim made a motion to approve the 2020-2021 PEDC Budget. Mr. Hamill seconded the motion. Vote was 5 -ayes to O -nays. EKO-tidate � • J. Skinner Bakery - the EE Cr signed the agreement for jobs with them. Skinner will be delaying the start of two new production lines until the first of the year. The rail construction will be completed the end of August or first, part of September. • American Spiraffeld Pipe - rail will be completed in September. The company is planning to start production in December. Two key people have been hired by ASWP, these are local people, Before convening, LiAto Executive Session Dr. Hashmi asked to make a motion to take #3), review and possibly select executive director from candidates, out of Executive Session and place in Open Session. Mr. Pankaj seconded the motion. Vote was 4 -ayes to 1 -nays. Ms. Bills was the nay vote. Mr. Hernandez stated the candidate selection was very close. Dr. Hashmi made a motion to select Maureen Hammond as the new SEDC Executive Director. Ms. Bills seconded the motion. Vote was 5 -ayes to 0 -nays. Mr. Hernandez asked the Board for a motion to approve him to negotiate the employment of Ms. Hammond. Dr. Hashim made a motion to allow Mr. Hernandez to negotiate with Ms. Hammond. Mr. Pankaj seconded the motion. Vote was 5 -ayes to O -nays, gonvene into Executive Session: 1) Pursuant to Section 551.072 of the Texas Government Code to discuss and deliberate the purchase, exchange, lease, or value of real property, 2) Pursuant to Section 551.087 of the Texas Government Code to (1) discuss or deliberate regarding commercial or financial information that the governmental body has received from a business prospect that the governmental body seeks to have locate, stay, or expand in or near the territory of the governmental body and with which the governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a financial or other incentive to a business prospect described by Subdivision (1), to wit: • D6 • Lionshead • Project ??? 3) Pursuant to Section 551.074 of the Texas Govermnent Code. 1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or employee: or 2) to hear a complaint to charge against an officer or employee. Review and possibly select executive director from candidates Chairman Hernandez convened the Board into Executive Session at 6:57 p.m. PEDC Board Meeting Minutes June 16, 2020 Page 5 of 5 Reconvene into O en Session discussed in Executive Session. Chairman Hernandez reconvened the Board into Open Session at 7:27 p.m. Mr. Pankaj made a motion to approve Mr. Hernandez discuss the real market value of properties that are in question. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. Discuss Future A enda Items. No future agenda items were discussed. Ad"ourn Mr. Pankaj made a motion to adjourn. Mr. Hamill seconded the motion. Vote was 5 -ayes to 0 -nays. The meeting adjourned at 7:28 p.m. Respectfully submitted, Paula Brownfield Administrative Assistant Paris Economic Development Corporation Board Members Present: Tim Hernandez, Chairman PARIS ECONOMIC DEVELOPMENT CORPORATION SPECIAL MEETING Paris Economic Development 1125 Bonham Street Paris, Texas 75460 Chris Stout, Economic Development Associate Paula Brownfield, Administrative Assistant Mr. Hernandez called the special meeting of the Paris Economic Development Corporation to order at 4:30 p.m. on June 26, 2020. Mr. Hernandez invited those present to speak during Citizens' Input. Mr. Pankaj asked to speak as a citizen. Ile thanked Mr. Hernandez and Mr. Hamill for the hard work done and dedicated service given over the last three years to the Board and to the citizens. Mr. Hernandez closed the Citizen's Input. Convene W2_Executive Sessj2n.� (a)Pursuant to Section 551.074 of the Texas Government Code: 1) to deliberate the appointment, employment, evaluation, reassignment, duties, discipline or dismissal of a public officer or employee: or 2) to hear a complaint to charge against an officer or employee. * Executive Director Chairman Hemandez convened the Board into Executive Session at 4:31 p.m. Reconvenei cussed in Executive Session. Chairman Hernandez reconvened the Board into Open Session at 4:32 p.m. Mr. P made a motion to approve the employment contract for the new executive director as presented. Ms. Bills seconded the motion. Vote was 3 -ayes to 0 -nays. Adjourn Mr. Pj made a motion to adjourn. Ms. Bills seconded the motion, Vote was 3 -ayes to 0 -nays. The meeting adjourned at 4:33 p.m. Ties mitted, Paula Brownfield Administrative Assistant Paris Economic Development Corporation