08 - PEDC 2015-16 BUDGETItem No. 8
memorandum
TO: City Council
John Godwin, City Manager
FROM: Gene Anderson, Finance Director
SUBJECT: PEDC 2015 -16 BUDGET
DATE: September 14, 2015
BACKGROUND: The PEDC Board has met and approved a budget for fiscal year 2015 -16.
STATUS OF ISSUE: The PEDC Board has approved the attached 2015 -16 Budget and requests
that it be approved by the City Council as required by the PEDC bylaws.
BUDGET: N/A
RECOMMENDATION: Motion to approve the proposed 2015 -16 PEDC Budget.
LJ R1lrMat 21f1C.If.
&
0104 1 Insurance Benefits:
0105 Workers Comp. Ins. (.44%)
TOTAL PERSONNEL EXPENSES 200,000.00
ADMINISTRATION
0201 1 Office Supplies 5,500.00
0202 lPostaee 500.00
Car Allowance
Insurance & Bonds
0314
1,000.1
0355
1 Contract Labor (Hiring Partners)
15,000.00
-
0357
Contract Services - Legal Fees
0051
10,000.00
0402
Industrial Park Maintenance
Marketing and Promotion
14,000.00
0605
Auditing Services
75,000.00
8,000.00
1002
Machinery, Tools & Equipment
JOB TRAINING - DIRECT INCENTIVES -DEBT SERVICE - CAPITAL INCENTIVES
5,000.00
TOTAL ADMINISTRATION
101,900.00
0044
Goal I- Secure Jobs/Retmtion/Bus.Retention & Expansion
15,000.00
0045
Goal 3 -Lamar County Days 2015
-
0051
Goal 4- Marketing Airport as Industrial Site
10,000.00
0052
Marketing and Promotion
50,000.00
0 %5
TOTAL MARKETING AND PROMOTION
75,000.00
0055
TOTAL OPERATING EXPENSES 376,900.00
JOB TRAINING - DIRECT INCENTIVES -DEBT SERVICE - CAPITAL INCENTIVES
JOB TRAINING
Goal #2 Work Keys
35,000.00
47
J Skinner Training Incentives
25,000.00
T &K / Aequs
11,000.00
Potter Training Incentive
-
Bodyguard Traning Incentive
13,371.00
High Demand Job Training Match Grant
25,000.00
0318
ITOTAL JOB TRAINING
109,371.00
niRF,C..T RIiSINRSS INCENTIVES
0044
Paris Lakes
250,000.00
0045
Rogers Wade
-
0051
J. Skinner New Hires & Training Incentive
116,000.00
0052
T &K /Aequs
55,000.00
0053
Potters Industries
8,000.00
0055
Project Powder Puff
Chaney Engineering, Inc. (Survey Fee) -
0056 ITurner 100,000.00
TOTAL DIRECT BUSINESS INCENTIVES 529,000.00
DEBT SERVICE.
EXPENSES
TOTAL DEBT, CAPITAL & INCENTIVES 994,342.00
TOTAL BUDGET EXPENSES 1,371,242.00
PEDC Bonds 1998 (Paris Pkg.)
355,221.00
The Bank of New York ( Bond Paying Agent Fee)
750.00
TOTAL DEBT SERVICE
355,971.00
EXPENSES
TOTAL DEBT, CAPITAL & INCENTIVES 994,342.00
TOTAL BUDGET EXPENSES 1,371,242.00