08-ADOPT/APPROVE AMENDED PARIS EDC BUDGET FOR 2012-13CITY COUNCIL AGENDA ITEM BRIEFING SHEET
Submittal Date: I Originating Department: I Presented By:
9/21/2012
PEDC
Council Date:
10/8/2012
Steve Gilbert, Executive Director
RECOMMENDED MOTION:
Adopt/Approve Amended Paris EDC Budget for FY 2012-13
POLICY ISSUE�S�:
Economic Development
BACKGROUND:
Agenda Item No.:
:
Additional project incentives were approved (or in the process) since the submittal of FY 2012-13
Budget to the City on July 2, 2012. The line item changes are as follows:
Current Amended
Account Name Bud et $ Bud et $ Ex lanation
New Industry Projects $85,762 $45,000 Reduced by $40,765 that will go to Reserves
Existing Industry Projects $85,762 $45,000 Reduced by $40,765 that will go to Reserves
BODYGUARD , LLC 0 $302,717 For Incentives - From Reserves
Triton, LLC 0 $196,388 For Incentives - From Reserves
Campbeli Soup (�T�w Line) 0$1,400,000 Far Incentives — From Reserves
Depot Operating Funds $60,000 $45,000 Reduced by $15,000 that will go to Reserves
See attached for revised budget line-item expenses.
BOARD�COMMISSION RECOMMENDATION:
PARIS EDC BOARD APPROVED AMENDED BUDGET FOR FY ZO12-13 ON SEPTEMBER 13, ZOIZ.
EXHIBITS:
Resolution
ACTION:
❑ Financial Report ❑ Minute Order
❑ Department Report � Resolution
❑ Presentation ❑ Ordinance
❑ Public Hearing ❑ Other
FISCAL NOTES:
BUDGET INFO:
Expense $
Budgeted Amt. $
YTD Actual $
Acct. Name
Acct. Number
City of Paris Revised 6/20/12
43
Draft 1
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS,
APPROVING AN AMENDMENT TO THE FY 2012-2013 BUDGET OF THE
PARIS ECONOMIC DEVELOPMENT CORPORATION (PEDC) TO CHANGE
LINE ITEMS ORIGINALLY APPROVED IN THE SUBMITTAL OF THE FY
2012-2013 BUDGET. MAKING OTHER FINDINGS AND PROVISIONS
RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Paris has heretofore approved and
accepted the Paris Economic Development Corporation Budget for the fiscal year beginning
October 1, 2012, and ending September 30, 2013; and,
WHEREAS, the PEDC held a meeting on September, 2012 and voted to amending the
line items as described in the Proposed Amended Budget attached hereto as Exhibit "A";
and,
WHEREAS� the purpose of the budget amendment is to reduce the budget items for
New Industry Projects, Existing Industry Projects and Depot Operating Funds and increase
the budget items for Bodyguard, LLC, Triton, LLC and Campbell Soup (New Line); and,
WHEREAS, the PEDC Board respectfully requests City Council approval of the above
referenced Budget Amendment as further described in the Proposed Amended Budget
attached hereto as Exhibit "A", and;
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 above referenced Budget Amendment to the FY 2012-2013
PEDC Budget as further described in Exhibit "A" attached hereto be and the same is hereby
approved.
Section 3. That this resolution shall be effective from and after its date of passage.
PASSED AND APPROVED this 8th�d day of October, 2012.
A.J. Hashmi, MD, Mayor
��
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
W. Kent McIlyar, City Attorney
45
Acct M
Ol-I t-Ot
02-] I-01
20-11-01
42-11-01
43-I1-Ol
44-li-ol
45-11-01
�7-ll-01
18-11-01
Industry Projects
ing Industr�• Proj�
pbeU's Soup
�ator Projcct
1 AttraMions (Ricl
�ct Fresh AIr
URogers-Wade
ct Tiger Talc (Bo�
ct Jewel (Trltonl i
Paris Economic Development Corporation
d AMENDED Budget for FY 2012-13 (Oct. 201
Accoant
uard) per PEDC Board Mceting S/14/1012
PEDC Board Meetne 7/70/2012
AMENDMENT
CUtt[tENi' TO
FY 2012-13 FY 2012=13
Budget Amount Bndget Amount
5 85,762 $ 45,000 540,765 to Rcxerves
85,762 45,OOU 540,765 to Rcserves
100,000
95,500
33,000
250,000
60,000
02-0049-1 t-01 Project White Space I(Campbelf Soup)
PEDC Bonds 1998 (Parfs Packaging� 355,264
02-0316-11-01 Civic Engagemcnt & Leadership for Economic Growth I5,000
02•0317-1 i-01 Global Recniting, Attractlon & Markef Positioning 75,000
D2-0:�18-11-01 Advanced Manutacturing Academy &"Talent Ready" 50,000
D2-o319-I1-ol Entrepreneurial Resourccs 57,500
�2-0320-11-01 Rurallnnovation 57,500
)2-0323-t1-m Resexrch 360' Analyst & EMSI Tools 15,995
)2-Olol-Il-oi S�laries & Wages 180,000
12-0102-11-01 Social Security/Medicare (6.2%/1.45°/.) 13,800
12•0103• I i-Ol Retirement (401K thra Edward Jones) 9,050
12-Ot04-I t-Ol In�urance Benetits t 42,770
i2-o105-11-0� Workers Compeasatton Insurancc 800
2-0201-11-01 Oftice Supplies 6,750
�2-0202-ll-01 Postage 800
�3-0203-n-Ol Food 2,500
2-0301-I1-01 Communications/Telephone 8,300
2-0302-1 ]-m Car Allowancc - Exec. Director/Asst. Exec. Director 15,300
2-0303-11•02 tasurance & Bonds 3,200
2-0306-11-01 Travel Expenses �g,ppp
2-0307-11-01 �e�-P�b�catioos 500
?-0308-11-01 All UtiGlies 1,800
t-0310-tt-01 MisceUaneous �,ppp
t-o31�-1I-Oi ContractuaJ-Assocfations ]0,000
!-o314-I1-Ol Training 6,000
!•0315-ii-Ol Promotiona!-Advertisi�g 25,000
!-0348-11-01 Depoi Operating Funds 60,000
�-0355-11-01 Rachel - ContraM Labor + CoUege Intern 15,000
-oa02-11-01 Industrtal Park Maintenaace 13,000
-0605-ll-Ol Auditing 5,500
-1002-]1-01 Mach[nery Tools Equipment 5,000
TOTAL $UDGET EXPENSES S 1,780,353
GRAND TOTAL AMENDED BUDGET EXPENSES $ 3,582,928
46
302,717 From Res�rves
196,388 From Reserves
lncentive Agreement prnding
I,400,000 Finai Lzga� Approval
to Reserves