09-A PEDC Budget Approval
DRAFT
F:ATTORNEY\RESWORK\CURRENT\ PEDC Budget Appr 2005-2006
August 25, 2005
RESOLUTION NO.
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 FIND IN GS
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; N OW, 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, 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 of September, 2005.
Curtis Fendley, Mayor
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
Larry W. Schenk, City Attorney
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PARIS ECONOMIC DEVELOPMENT CORPORATION
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
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PARIS ECONOMIC DEVELOPMENT CORPORATION
2005.2006
BUDGET
0001 New Industry Projects 700,629 61,666 32,703 361,272
Turner International Piping 500,000 0 0 0
C-Tech$1,000,000Debt 54,909 200,844 219,638 219,638
Industrial Park 0 897,430 496,470 0
Industrial Park Debt 0 0 219,638 226,500
TCIM 50,000 25,000 0 0
Existing Industry Projects 19,000 0 2,100 361,272
Paris Packaging 389,428 409,566 389,000 387,000
Hearne St. Extension 2,671 47,774 156,283 0
Chapman Note 49,414 0 0 0
SUB TOTAL 1,766,051 1,642,280 1,515,832 1,555,682
0002
1001
0201
0202
Office Equipment
Office Supplies
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
--------- ------------------------------------------- --------------------------------------------------------------------------------
SUBTOTAL
$28,950
$19,055
$17,600
$19,600
0301 Communications 1,865 1 , 190 1,200 1,300
0305 Special Services Fees/Consultants 2,123 3,750 4,000 3,000
0306 Travel 24,093 31 ,870 28,000 29,000
0307 Subscriptions 385 495 488 500
0310 Miscellaneous 38 0 0 1,000
0311 Associations 2,886 3,913 3,000 4,000
0315 Promotional! Advertising 96,524 32,780 20,000 40,000
0349 City Services 0 0 0 o
0350 Compensation - Director 56,570 61,407 61 ,704 65,646
0351 Compensation - Asst. Director 45,620 48,792 47,610 49,643
Chamber Administration Fee 0 0 10,000 10,000
Audit 2,500 3,550 3,750 3,750
SUB TOTAL $232,604 $187,746 $179,752 $207,839
0610
Reference Materials
Contingency
0
1,036
o
437
0
65
0
1,000
0610-11
--------- ------------------------------------------- --------------------------------------------------------------------------------
SUB TOTAL
$1,036
$437
$65
$1,000
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