2003-155-RES ACCEPTING/APPROVING PEDC FISCAL YEAR 2003 BUDGET
RESOLUTION NO.
2003-155
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, 2003, TO SEPTEMBER 30, 2004; 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, 2003, and ending September 30,2004; 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 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, 2003, and ending September 30, 2004, 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 9th day of September, 2003.
ATTEST:
~~~~ ~ 't.~~___ ~ \2\ ~~;cJ
Mattie Cunningham, City Clerk ~
APPROVED AS TO FORM:
PARIS ECONOMIC DEVELOPMENT CORPORATION
Revenue Statement
2003-2004
Anticipated Cash Position 9/30/03
(These funds will be carried over to 2003/04 budget)
$528,411
Revenue 2003 - 2004:
Estimated Sales Tax
Estimated Interest
Paris Packaging Payments
Total Current Revenue
$930,000
15,000
384.000
$1.329.000
Total Resources
$1,857,411
Committed Funds:
Bond Debt Payments 388,972
Hearne Street Extension 247,787
Bank Debt Service ($1,000,000 over 5years) 220,998
TCIM ($500,000 over 5 years) 25,000
Audit 3,550
Chamber of Commerce 202.719
Total Commitment of Existing Funds $1,089,026
Available Funds For Projects 2003-2004 $768,385
Long Term Obligations (as of9-30-03):
Bonds Payable (over 15 years)
Bank Debt Service (over 5 years)
TCIM (over 1 year)
$3,595,000
$1,000,000
25.000
Total Long Term Obligations
$4,620,000
EXHIBIT .A..
PARIS ECONOMIC DEVELOPMENT CORPORATION
2003-2004
BUDGET
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0001 New Industry Projects 9,265 700,000 384,541
Turner International Piping 500,000 500,000 500,000 0
BITCO 128 0 0 0
TCIM 125,000 100,000 50,000 25,000
Existing Industry Projects 0 0 10,000 384,541
0002 Paris Packaging 393,731 394,001 388,936 388,972
Bank Debt Service 0 0 0 220,998
Hearn St. Extension 0 2,998 2,213 247,787
Chapman Note 53,906 58,398 53.906 0
Earthgrains 54,000 0 0 0
.
SUB TOTAL 1,126,765 1,064,662 1,705,055 1,651,839
Office Equipment
Office Supplies
Postage
--------- ---------------------------------------- ------------------- ------------------- ------------------- -------------------
SUB TOTAL
$8,289
$28,987
$29,850
$17,000
0301 1,316 1,137 1,500 2,000
0305 Special Services Fees/Consultants 100 13,403 1,000 5,000
0306 Travel 9,562 14,245 24,000 15,000
0307 Subscriptions 0 561 500 500
0310 Miscellaneous 1,064 850 1,000 0
0311 Associations 10.063 10,760 3,000 3,000
0315 Promotional! Advertising 61,592 80,042 89,000 50,000
0349 City Services 0 0 0 0
0350 Compensation - Director 35,271 36,803 57,447 61,407
0351 Compensation - Asst. Directo 53,830 64,601 45.132 47,115
Audit 2,225 6,278 3,550 3,550
SUB TOTAL $175,023 $228,680 $226,129 $187,572
0610 Reference Materials
0610-11 Contingency
o
1,322
o
300
o
1.000
o
1,000
SUB TOTAL
$1,322
$300
$1,000
$1,000
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PED(
- Account Descril
.
Ions
Account #
Description
,
"
0001
New Industry Projects - funds committed to
accommodate new industrial locations to Paris
..
0002
Existing Industry Projects - funds committed to the
retention and/or expansion of industrial facilities in
Paris
0201
Office Supplies
0202
Postage
9301
Communications - Long distance telephone
0305
Special Service Fees - Consultants, Legal, etc.
0306
Travel expenses for Director, Assistant Director,
training, seminars, travel claims, plane tickets,
special meeting lunches, ect.
0307
Subscriptions - Newspapers
0310
Miscellaneous
0311
Contractual Associations - Texas Marketing Team,
American Economic Development Council, Texas
Research League, World Economic Development
Alliance, Texas Economic Development Council
0315
Promotional - Advertising
0349
Services provided by the City of Paris
0350
Compensation - Director
0351
Compensation - Assistant Director
0610
Contingency - Industrial Appreciation Awards and
reference materials
1001
Office furniture & fixtures
PEDe Sales Tax Revenue
96-97 97-98 98-99 99-00 00-01 01-02 02-03
October 59,244.84 63,583.43 58,570.48 57,956.09 66,497.71 45,155.74 68,571.50
November 77,412.27 83,381.20 85,921.83 88,720.24 99,768.29 93,197.03 103,503.28
December 59,246.13 59,805.55 55,807.36 81,282.23 60,942.36 71,448.97 67,994.97
January 50,817.13 54,321.15 71,219.01 63,696.47 64,076.18 60,777.95 67,958.27
February 97,196.07 107,747.64 114,895.72 108,920.58 103,782.78 123,239.11 104,726.44
March 55,002.26 48,096.80 69,519.52 68,882.75 57,137.58 56,620.80 62,995.32
April 50,091.71 51,420.20 62,863.87 62,538.06 64,253.56 61,840.09 60,076.19
May 82,059.57 78,511.00 77,153.29 131,801.54 94,763.07 88,392.63 92,500.48
June 59,567.29 70,011.97 68,425.87 66,546.12 64,898.16 69,311.76
July 54,530.95 56,428.61 61,688.08 71,726.44 68,482.69 68,869.33
August 84,145.53 91,223.12 98,697.42 109,715.82 92,248.31 90,410.02
September 75,433.13 70,447.58 67,370.03 87,471.39 70,576.38 73,235.34
PEDe 804,746.89 834,978.23 892,132.49 999,257.75 907,427.07 902,498.77 628,326.45
Average per month 67,062.24 69,581.52 74,344.37 83,271.48 75,618.92 75,208.23 78,540.81
Average Revenue Per Month
100,000.00
80,000.00
60,000.00
40,000.00
20,000.00
l~____
Fiscal Year
r.-96=97~1
o 97-98
o 98-99
. 99-00 I
o 00-011
I II 01-02 I
!.02-031
L______._____l