04/15/2008-4A-Agenda Packet-Regular•
AGENDA
4A Sanger, Texas Industrial Development Corporation
TUESDAY, APRIL 15, 2008
1:00 P.M.
201BOLIVAR
1. Call Meeting to Order.
2. Approval of Minutes: August 21, 2007
3. Discussion and Possible Action on Appointment of Officers.
4. Discussion and Possible Action on Sanger Texas Industrial Development
Corporation Loan Number 20066800 with Prosperity Bank.
5. Review Financials
6. List of Future Agenda Items
7. Adjournment.
4-3-08 g.-q5 o.m.
Date and Time Posted
This facility is wheelchair accessible and accessible parking spaces are available. Requests
for accommodations or interpretive services must be made 48 hours prior to this meeting.
Please contact the City Secretary's office at (940) 458-7930 for further information .
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MINUTES: SANGER TEXAS INDUSTRIAL DEVELOPMENT
CORPORATION
August 21, 2007
MEMBERS
PRESENT: Richard Muir, Vickie Jenkins, Bill Fuller, Carroll McNeill, Fred
Yeatts
OTHERS
PRESENT: City Manager, Mike Brice, City Secretary/Asst. City Manager Rose
Chavez, Economic Development Director Cecile Carson
1. President Muir called meeting to order.
2. Approval of Minutes
Motion was made by Carroll McNeill to approve the minutes of March 5, 2007
as presented. Seconded by Fred Yeatts. Motion carried unanimously.
3. Review by-laws and Elect of Officers
Cecile Carson, Economic Development Director, addressed the members and
advised that she will come with the updates to the by-laws at the next meeting.
There is some terminology for example, the wording of City Administrator to
City Manager. Ms. Carson continued to review some of the changes, some
concerning the election of officers and designation of meeting dates.
Discussed were the meetings to be held quarterly in October, January, April
and July.
Meetings to be on the Yd week of the month at noon.
The board continued to discuss the election of the officers. Currently, Richard
Muir serves as President, Bill Fuller serves as Vice-President, Fred Yeatts is
Treasurer and Vickie Jenkins is Secretary.
Vickie Jenkins made the motion to continue with the officers as they have been
into the next year. Seconded by Carroll McNeill. Motion carried unanimously.
3. Discuss and Consider Financial Reports and 2006-2007 Budget.
Ms. Carson advised the members that the balance on the loan debt is
$184,978.90 .
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A detailed report of sales tax receivables was provided by City Secretary, Rose
Chavez.
Discussion continued on revenues and expenditures for 2006/2007 budget year.
A review of the Trial Balance and Financial Reports continued. City Secretary
advised that the money market balance at Prosperity Bank was $116,693.51 and
at First United the certificate of deposit balance was $81,102.01. The interest
rate yielded at First United was better than Prosperity.
Discussed the total revenues that were received this budget year. Interest rates
on the investments and the loan was also discussed.
City Secretary continued with discussions concerning the Trial Balance and the
Financial Reports.
Motion was made by Vickie Jenkins to approve financials as presented.
Seconded by Bill Fuller. Motion carried unanimously.
5. Discuss and Consider the 2007-2008 Budget.
City Manager addressed the board and advised that next year's budget for
Economic Development will be $183,276.00. A review of the expenditures in
Economic Development was given. City Manager discussed the contractual
expense is $70,000 which is the cost for revamping the planning and zoning
regulations. Staff is not sure on the cost; however, he would rather have more
than less.
City Manager continued with discussion of the budget for 4A. A review of the
transfer of $40,000 to the General Fund was discussed. City Manager
emphasized his philosophy regarding economic development. He asked the
board to take a different approach on the monies that are transferred to General
Fund for economic development. He would like to see the 4A, 4B and the City
to be partners in economic development. This starts in the money level. He has
discussed this with Council in their budget workshop. The total budget for
Economic Development is $183,000, with 4A and 4B funding a total of $80,000.
Discussion continued regarding the expenditures of the Economic Development
and the revenues that are budgeted for next year.
Bill Fuller expressed that he is interested in accountability and the result to the
City. He is interested in positive economic development to show the citizens
what they are getting for their money •
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Mr. Brice indicated hard work and the prospects that come along do happen.
The City is in competition with everyone else.
Bill Fuller indicated that Ms. Carson bas done a good job in working with the
City on getting a master plan in place that is necessary to attract businesses.
He emphasized that from this point on he would like to see positive results.
City Manager continued discussing the importance of all three entities being
supportive of economic development.
Vickie Jenkins questioned the cost for consulting services regarding the
revamping of the Planning and Zoning ordinances.
Discussion continued concerning the cost.
President Muir inquired if in future budgets are they to plan for 15% to 20%
of funding the budget for economic development.
City Manager indicated that is correct unless there are changes.
Discussion continued on 2006/2007 budget amount for projects. City Secretary
advised that the amount that was budgeted was to allocate funds in case the 4A
did fund a project.
The board continued with discussion on the financials, future projects and
outlining the criteria that needed to be in place on funding these projects.
Discussion continued with the criteria on funding projects. City Manager
indicated that in his opinion he would recommend that funding is given at the
end and not up front. A business needs to be productive. H they need funding
to begin their business, then this is when a loan can work better. These are
both good tools and they need to be used in the right setting.
President Muir expressed that Mr. Brice's philosophy is wise money
management.
Motion was made by Vickie Jenkins to approve the budget for October 1, 2007
to September 30, 2008. Seconded by Fred Yeatts. Motion carried unanimously.
6. Review Requirements of Attorney General
Cecile Carson, Economic Development Director asked the board members if
they had completed the Attorney General's requirements for Open Meetings
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and Open Records.
Board Members all agreed that they were all in compliance.
7. Possible List of Future Agenda Items:
Ms. Carson indicated that they have a couple of items that they will bring back
to the board relating to projects.
President Muir indicated they will plan for a meeting on the Yd week of October.
Mr. McNeill inquired on the future agenda item from the last meeting that was
to be on this agenda concerning the incentive policy that board members were
asked to review.
The Incentive Policy was provided to the Board and they did not receive any
additional comments from board members. The policy is what they are
currently using since they did not receive any comments from board members.
The study from the University of North Texas was presented to the Council.
The study involved asking major employers information regarding their
business, expansion, location, etc. The study found that the strongest request
was to have a better informed group of employees. Employers were looking for
traditional educational base and to look at things that would make them grow
in their business, such as, marketing, advertising and promotion and how to
work better in their business. She has been working with the Chamber of
Commerce in creating a series of classes that may ultimately become
Leadership Sanger. They received mixed results in working with the city and
the biggest complaint was inability to understand the ordinances. This is the
purpose of the revision of the planning and zoning ordinances, subdivision
ordinances, sign ordinance and business regulations so it can be a more
understanding package.
8. Adjournment.
President Muir adjourned the meeting at 1:07 p.m .
4-07-2008 02:44 PM C I T y 0 F SANG E R PAGE: 1
TRIAL BALANCE
AS OF: MARCH 31ST, 2008
41 -4A CORPORATION
**** MONTH TO DATE**** ***** YEAR TO DATE*****
ACCOUNT NO# TITLE DEBITS CREDITS DEBITS CREDITS
ASSETS
00-1010 CASH 22,005.30 1,566.99
00-1011 SANGER TX.IND.DEV.CD.67516/4A 0.00 0.00
00-1012 MONEY MARKET (4A) INV. 22,332.08 213,823.91
00-1013 SANGER TX IND CORP CD#486639 o.oo 83,765.15
00-1053 RECEIVABLE-OTHER 0.00 18,874.91
00-1060 DUE FROM GENERAL FUND o.oo 0.00
00-1062 AMOUNT TO BE PROVIDED L-T-D 0.00 272,623.90
LIABILITIES AND FUND BALANCE
00-2201 N/P GNB o.oo 272,623.90
00-3020 FUND BALANCE 0.00 248,595.38
REVENUES
00-4000 LOAN PROCEEDS 0.00 0.00
00-4425 STATE SALES TAX 19,892.63 124,606.32
00-4800 INTEREST INCOME 434.15 4,834.26
00-4940 DONATIONS 0.00 0.00
00-4950 PRIOR YEAR INCOME 0.00 0.00
00-4985 TRANSFERS OUT FR 4A TO GF 0.00 o.oo
EXPENSES
15-5175 EAP (EMPLOYER ASSIST.PROG) 0.00 0.00
18-5175 EAP (EMPLOYER ASSIST.PROG) 0.00 0.00
75-5200 CHECK CHARGES 0.00 o.oo
75-5205 FOOD 0.00 0.00
75-5210 OFFICE SUPPLIES 0.00 o.oo
75-5215 TRAVEL & REGISTRATIONS 0.00 0.00
75-5220 DUES 0.00 5.00
75-5225 PUBLICATIONS/SUBSCRIPTIONS 0.00 0.00
75-5410 INSURANCE o.oo o.oo
75-5420 CONTRACTUAL SERVICES 0.00 0.00
75-5425 LEGAL FEES 0.00 o.oo
75-6500 PROJECTS 0.00 0.00
75-6505 LOAN PAYMENTS/20066800 20,000.00 60,000.00
***TOTALS*** 42,332.08 42,332.08CR 650,659.86 650,659.86CR
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4-07-2008 12:53 PM
41 -4A CORPORATION
RE\i SUMMARY
4A REVENUES
*** TOTAL REVENUES ***
EXPENDITURE SUMMARY
75-4A EXPENSES
*** TOTAL EXPENDITURES***
** REVENUES OVER(UNDER) EXPENDITURES**
TOTAL OTHER FINANCING SOURCES (USES)
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C I T Y O F S A N G E R
FINANCIAL STATEMENT
AS OF: MARCH 31ST, 2008
CURRENT
BUDGET
186,200.00
186,200.00
121,500.00
121,500.00
64,700.00
0.00
0.00
0.00
CURRENT
PERIOD
20,326.78
20,326.78
20,000.00
20,000.00
32 6. 7 8
0.00
0.00
0.00
Y-T-D % OF
ACTUAL BUDGET
129,440.58 69.52
129,440.58 69.52
60,005.00 49.39
60,005.00 49.39
69,435.58
0.00
0.00
0.00
107.32
0.00
0.00
0.00
Y-T-D
ENCUMB.
0.00
o.oo
0.00
0.00
0.00
0.00
0.00
0.00
PAGE: 1
BUDGET
BALANCE
56,759.42
56,759.42
61,495.00
61,495.00
4,735.58)
0.00
0.00
0.00
4-07-2008 12:53 PM
41 -4A CORPORATION
REVENUES
REVENUES
4A REVENUES
00-4000 LOAN PROCEEDS
00-4425 STATE SALES TAX
00-4800 INTEREST INCOME
00-4940 DONATIONS
00-4950 PRIOR YEAR INCOME
00-4985 TRANSFERS OUT FR 4A TO GF
TOTAL 4A REVENUES
*** TOTAL REVENUES ***
C I T Y O F S A N G E R
FINANCIAL STATEMENT
CURRENT
BUDGET
0.00
222,000.00
4,200.00
0.00
0.00
40,000.00)
186,200.00
186,200.00
=======::c======
AS OF: MARCH 31ST, 2008
CURRENT
PERIOD
0.00
19,892.63
434.15
0.00
0.00
0.00
20,326.78
20,326.78
==============
Y-T-D % OF
ACTUAL BUDGET
0.00 0.00
124,606.32 56.13
4,834.26 115 .10
0.00 0.00
0.00 o.oo
0.00 0.00
129,440.58 69.52
129,440.58 69.52
==============
Y-T-D
ENCUMB.
o.oo
0.00
0.00
0.00
0.00
0.00
0.00
o.oo
==============
PAGE: 2
BUDGET
BALANCE
0.00
97,393.68
634 .26)
0.00
0.00
40,000.00)
56,759.42
56,759.42
==============
4-07-2008 12:53 PM
41 -4A CORPORATION
75-4A EXPENSES
DEPARTMENT EXPENDITURES
C I T Y O F S A N G E R
FINANCIAL STATEMENT
CURRENT
BUDGET
AS OF: MARCH 31ST, 2008
CURRENT
PERIOD
Y-T-D % OF
ACTUAL BUDGET
Y-T-D
ENCUMB.
PAGE: 3
BUDGET
BALANCE
--------------------------------------------------------------------------------------------------------------------------
52-SUPPLIES AND MATERIALS
75-5200 CHECK CHARGES o.oo o.oo o.oo 0.00 0.00 0.00
75-5205 FOOD 0.00 0.00 o.oo 0.00 0.00 0.00
75-5210 OFFICE SUPPLIES 200.00 0.00 0.00 0.00 0.00 200.00
75-5215 TRAVEL & REGISTRATIONS 750.00 0.00 0.00 0.00 0.00 750.00
75-5220 DUES 250.00 0.00 5.00 2.00 0.00 245.00
75-5225 PUBLICATIONS/SUBSCRIPTIONS 200.00 0.00 0.00 _Q__,_Q_Q 0.00 200.00
TOTAL 52-SUPPLIES AND MATERIALS 1,400.00 0.00 5.00 0.36 0.00 1,395.00
54-CONTRACT SERVICES
75-5410 INSURANCE 100.00 0.00 0.00 0.00 0.00 100.00
15-5420 CONTRACTUAL SERVICES 0.00 o.oo 0.00 0.00 0.00 0.00
75-5425 LEGAL FEES 0.00 0.00 o.oo 0.00 0.00 0.00
TOTAL 54-CONTRACT SERVICES 100.00 o.oo 0.00 0.00 0.00 100.00
65-PROJECTS
75-6500 PROJECTS 0.00 0.00 o.oo 0.00 0.00 0.00
75-6505 LOAN PAYMENTS/20066800 120,000.00 20,000.00 60,000.00 50.00 0.00 60,000.00
TOTAL 65-PROJECTS 120,000.00 20,000.00 60,000.00 50.00 0.00 60,000.00
*** DEPARTMENT TOTAL *** 121,500.00 20,000.00 60,005.00 49.39 0.00 61,495.00
============== ============== ============--============== ============
*** TOTAL EXPENDITURES *** 121,500.00 20,000.00 60,005.00 49.39 0.00 61,495.00
============== ============== ============= ============== =============-
0TH NANCING SOURCES (USES)
----------------------
TOTAL OTHER FINANCING SOURCES (USES) 0.00 0.00 0.00 0.00 0.00 o.oo
============= ============== ============== ============== ==============
*** END OF REPORT ***
4A DEPOSITS
1999 I 2000 I 2001 I 2002 I 2003 I 2004 I 2005 I 2006 I 2007 I 2008 I
I
JAN. I $61691.041 $81083.931 $81937.431 $101348.82 I $101188.221 $251847.621 $13,993.781 $16,264.501 $161691.41 I $171436.571
I
FEB. I $91806.451 $9i763.37I $11,840.641 $141870.781 $14,840.341 $171485.761 $211779.91 I $211513.62 I $191601.101 $221071.091
I
I
MARCH I $6i700.02I $101384.631 $81984.181 $91209.151 $121446.361 $131382.91 I $14,254.431 $16,620.931 $161412.34 I $191892.63
APRIL I $101015.181 $81416.521 $91517.251 $91195.021 $91202.141 $121224.771 $141166.101 $171198.171 $15I482.ool
I
MAY I $91970.221 $101323.151 $141946.441 $101623.56 I $151125.041 $201311.371 $20,556.141 $17,428.361 $26/67.831
!
JUNE I $71392.451 $71953.661 $101131.01 I $11,911.061 $141358.11 I $181216.941 $151585.54 I $231063.99 I $171172.671
I
JULY I $81733.021 $71642.301 $12z184.18I $101597.47 I $111370.281 $16,692.361 $161914.66 I $171896.761 $19,127.61 I
I
I
AUGUST I $121935.491 $101854.251 $17,035.ool $14,962.171 $16,132.421 $191354.71 I $201375.58 I $241003.151 $24,581.421
SEPT. I $81584.581 $71103.501 $11 1612.08 I $121928. 161 $131140.491 $15z725.s2 I $161977.991 $19/46.741 $261990.121
!
OCT. I $91164.481 $101136.27 I $281586.961 $131940.44 I $111426.721 $16,084.641 $17,074.511 $111042.771 $24,397.631
NOV. I $8,912.41 I $11,915.61 I $161166.71 I $14 1246.90 I $17,184.881 $22z700.13I $201661.06 I $241265. 79 I $22,846.79 I I
[ J
DEC. I $121594.42 I $71860.371 $101397.061 $101198.241 $121570.11 I $16,179.851 $19,822.071 $17,830.911 $171961.61 I I
TOTAL $111,559.82 $110,497.56 $160,938.94 $143,031.77 $157,985.11 $214,267.28 $212,161.77 $226,875.69 $248,092~~~
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