19 - PROPOSED AMENDMENT TO PEDC FY 2014-15 BUDGETItem No. 19
memorandum
TO: Mayor & City Council
John Godwin, City Manager
FROM: Paris EDC Board /Shannon Barrentine, Interim Executive Director
SUBJECT: PROPOSED AMENDMENT TO Paris EDC's FY 2014 -15 BUDGET to Fund
Plan of Work for FY 2014 -15
DATE: February 9, 2015
BACKGROUND: The Paris EDC's budget is requested to be amended to fund the Plan of Work
for FY 2014 -15. The amendment is "budget neutral" due to reducing the Salaries & Wages line
item by $31,500 and creating the Plan of Work expense line item for the same amount of
$31,500.
STATUS OF ISSUE: Approved by Paris EDC Board on January 13, 2015.
BUDGET: See attached for proposed amendments to Paris EDC's FY 2014 -15 Budget.
RECOMMENDATION: Approve as recommended.
Paris EDC Budget for FY 2014 -15
Acct #
Account Name
BUDGET
FT' 2014 -15
Proposed Budget
Amendment to Fund
Plan of Work
0101
Salaries & Wages
$ 180,000
148,500
Benefits:
0 1021
Social Security/Medicare (6.2 %/1.45 %)
13,770
0103
Retirement (Edwards Jones)
9,050
0104
Insurance Benefits:
40,100
0105
Workers Comp. Ins. (.44 %)
1,000
_
OO OO
0
0201
Office Supplies
5,500
0202
Postage
500
0301
Telephones /Communications
5,400
0302
Car Allowance
12,000
0303
Insurance & Bonds
7,900
030s
Utilities
500
0310
Miscellaneous
1,000
0311
Association Memberships
6,000
0314
Staff Training
3,000
0348
Depot Operating Expenses (Previously Chamber Administration Fee)
20,000
0355
Contract Labor (Hiring Partners)
-
0357
Contract Services - Legal Fees
-
0402
Industrial Park Maintenance
14,000
0605
Auditing Services
6,600
1002
Machinery, Tools & Equipment
3,000
2014 -15 Plan of Work
31,500
o
i ' OO OO OO
_c,00i
o
OO i i
5 000
_
OUR 1
0.00
i i
0044
Paris Lakes
250,000
0045
Rogers Wade
45,000
0047
BodyGuard
14,746
oos 1
J. Skinner New Hires & Training Incentive
116,000
0052
T &K
40,000
0053
Potters Industries
40,000
PEDC Bonds 1998 (Paris Pkg.)
350,271
The Bank of New York ( Bond Paying Agent Fee)
750
O
TOTAL BUDGET EXPENSES
$ 1,296,087