10-B PEDC Budget
DRAFT
fattorney\reswork\current\PEDC Budget Appr 2007-2008
July 2, 2007
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS,
TEXAS, ACCEPTING AND APPROVING THE PARIS ECONOMIC
DEVELOPMENT CORPORATION BUDGET FOR THE FISCAL YEAR
OCTOBER 1, 2007, TO SEPTEMBER 30, 2008; 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 1,2007, and ending September 30, 2008; 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, TEXAS:
Section 1. That the findings 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 1,2007 and ending September 30,2008 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 23rd day of July, 2007.
Jesse James Freelen, Mayor
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
W. Kent McIlyar, City Attorney
PARIS ECONOMIC DEVELOPMENT CORPORATION
Revenue Statement
2007-2008
Anticipated Cash Position 9/30/07
(These funds will be carried over to 2006/07 budget)
Revenue 2007-2008:
Estimated Sales Tax
Estimated Interest
Paris Packaging Payments
Total Current Revenue
Total Resources
Committed Funds:
Bond Debt Payments
C-Tech Loan Payments
Ind. Park Loan Payments.
Chamber of Commerce
Total Commitment of Existing Funds
Available Funds For Projects 2007-2008
Long Term Obligations (as of 9-30-07):
Bonds Payable (over 11 years)
C-Tech Debt Payable (over 10 months)
Ind. Park Debt Payable - est. (over 2 years)
Total Long Term Obligations
EXHIBIT .A..
$1,062,500
20,000
384,000
387,000
181,568
226,500
297,740
1,092,808
$1,373,692
$1,000,000
1,466,500
2,466,500
2,578,000
181,568
480,942
$3,240,510
PARIS ECONOMIC DEVELOPMENT CORPORATION
2007.2008
BUDGET
0002
New Industry Projects
C-Tech $1,000,000 Debt
Industrial Park
Industrial Park Debt
TCIM
Texas One Program
Existing Industry Projects
Paris Packaging
Hearne St. Extension
Campbell's Training
We Pack
SUB TOTAL
:eo.oseT.HR~PJepmep.)
.;.:.:.:-:-:.:.:.;.:-:.:.:.:.:-:.:.;-;::.:.:.:::.;.:.:-:.:.;.;-:-:.;.:.:.:-:.:.;.:.;. ,.:.::-:.:-:-:.;.:::::.:.:-:-:::::-:.:.:.;.;.:.:.:.:-:.:.:.:.;.:.:-:.:.:.:-:.
.::.%.2:QQ~;"()j:. ) U.~Qo.~S()j:U.}
645,240 35,000
219,638 219,638
o 0
226,500 226,500
o 0
5,000 5,000
645,239 0
387,000 387,000
o 0
50,000 50,000
o 0
2,178,617 923,138
.....~9g-EE3f:
(...2QP't;bPS
686,846
181,568
o
226,500
o
o
686,846
387,000
o
o
o
2,168,760
0001
1001 Office Equipment
0201 Office Supplies
02-02 Postage
3,000
4,000
6,000
6,800
7,500
3,000
3,000
6,000
6,000
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SUB TOTAL
$15,000
0301 Communications 3,500 3,500 3,500
03"05 Special Services Fees/Consultants 25,000 65,000 25,000
0306 Travel 20,000 25,000 25,000
0307 Subscriptions 1,000 1,000 1,000
0310 Miscellaneous 1,000 1,000 1,000
0311 Associations 3,000 4,100 4,100
0315 Promotional! Advertising 25,000 35,000 35,000
0349 City Services 0 0 0
0350 Compensation - Director 67,000 48,962 69,677
0351 Compensation - Asst. Director 53,133 29,906 76,913
Director Auto / Bonus 0 13,500 16,500
Chamber Administration Fee 10,000 10,000 10,000
Utilities 0 5,000 10,000
Audit 3,750 5,050 5,050
SUB TOTAL $212,383 $247,017 $282,740
0610 Reference Materials
0610-11 Contingency
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