07 - PEDC 2014-15 BUDGET AMENDMENTSItem No. 7
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: PEDC 2014 -15 BUDGET AMENDMENTS
DATE: September 14, 2015
BACKGROUND: The PEDC Board has requested that the following amendments to its
2014 -15 Budget be approved by the City Council as required by the PEDC bylaws. Attached to
this memo you will find a three column presentation of the current PEDC budget, the changes
requested, and the amended PEDC budget amounts. The changes are necessitated by use of
contract labor to replace staff member who had resigned, depot operation expenses, legal fees,
audit fees, funding for jobs training, and the purchase of land.
STATUS OF ISSUE: The PEDC Board has approved the changes and requests that the City
Council approve them as well.
BUDGET: These amendments do not increase the total PEDC budget.
RECOMMENDATION: Motion to approve the requested amendments to the 2014 -15 PEDC
budget.
PERSONNEL
Salaries & Wages
180,000.00
(74,000.00)
106,000.00
Benefits:
0102
Social Security/Medicare(6.2% /1.45%)
13,770.00
13,770.00
0103
Retirement (Edwards Jones)
9,050.00
9,050.00
0104
Insurance Benefits:
40,100.00
40,100.00
0105
Workers Comp. Ins. (.44%)
1,000.00
1,000.00
�EN9,0.0.
0000MF00000
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ADMINISTRATION
0201
Office Supplies
5,500.00
5,500.00
0202
Postage
500.00
500.00
0301
Tel hone/Communication
5,400.00
5,400.00
0302
Car Allowance
12,000.00
12,000.00
0303
Insurance & Bonds
7,900.00
7,900.00
0306
Travel Expenses (not budgeted)
0308
Utilities
500.00
500.00
0310
Miscellaneous
1,000.00
1,000.00
0311
Association Memberships
6,000.00
6,000.00
0314
StaffTrainin
3,000.00
3,000.00
0348
Depot Operations
20,000.00
6,000.00
26,000.00
0355
Contract Labor (Hiring Partners)
40,000.00
40,000.00
0357
lContract Services - Legal Fees
27,000.00
27,000.00
0402
Industrial Park Maintenance
14,000.00
14,000.00
0605
Auditing Services
6,600.00
1,000.00
7,600.00
1002
Machinery, Tools & Equipment
3,000.00
3,000.00
O O
8 40_0_.00
MENELF, 00.00
00 00
MARKETING AND PROMOTION
Goal 1 -Segue Jobs/RetentionBus.Retention & Expansion
15,000.00
15,000.00
Goal 3 -Lamar County Days 2015
6,500.00
6,500.00
Goal 4- Marketing Airport as Industrial Site
10,000.00
10,000.00
Marketin and Promotion
43,500.00
43,500.00
_
OO r OO OO OO
0 .00
®
000.00
20.00
JOB TRAINING - DIRECT INCENTIVES -DEBT SERVICE - CAPITAL INCENTIVES
JOB TRAINING
High Demand Jobs Grant Match
25,000.00
25,000.00
Goal #2 Work Keys
35,000.00
35,000.00
47
J Skinner Training Incentives
T&K / A us
Potter Training Incentive
Bodyguard Traning Incentive
14,746.00
14,746.00
03 8 WEQURNUO 4 .00
DIRECT BUSINESS INCENTIVES
0044
Paris Lakes
250,000.00
(250,000.00)
0045
Rogers Wade
45,000.00
(25,000.00)
20,000.00
0051
J. Skinner New Hires & Training Incentive
116,000.00
116,000.00
0052
T&K /A us
40,000.00
40,000.00
0053
Potters Industries
40,000.00
40,000.00
0055
Pro' Powder Puff
Chaney Engineering, Inc. (Survey Fee)
Turner
O S D
000.00
ffi— 000.00
000.00
DEBT SERVICE
PEDC Bonds 1998 (Paris Pkg.)
350,271.00
350,271.00
The Bank of New York ( Bond Paying Agent Fee)
750.00
750.00
CAPITAL EXPENSES
0
Project Spec
250,000.00
250,000.00
o. n
,,,000.00
0 000.00
MINNEW 8 .00