08/25/2008-4B-Agenda Packet-RegularAGENDA
4B SANGER, TEXAS DEVELOPMENT CORPORATION
MONDAY, AUGUST 25, 2008
6:00 P.M.
201BOLIVAR
1. Call Meeting to Order.
2. Approve Minutes: July 28, 2008
3. Consider and Possible Action Expending $17,025.00 For Downtown Park
Improvements.
4. Approve Letter of Intent to Purchase the Millar Property and Authorize City
Manager to Negotiate Purchase.
5. Project Updates.
6. Consider and Approve 2008/2009 Budget.
7.
8.
Review Financials.
Adjournment
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 DEVELOPMENT CORPORATION
May 12, 2008
MEMBERS
PRESENT: John Payne, Barbara Martin, Beverly Howard, Jeff Springer, Will Dutton,
Scott Stephens
MEMBERS
ABSENT: Beverly Branch
OTHERS
PRESENT: City Manager Mike Brice, City S~retary/Asst. City Manager Rose Chavez
1. Call Meeting to Order.
President John Payne called meeting to order at 6:02 p.m.
2. Approve Minutes: May 12, 2008
Motion made by Jeff Springer to approve the minutes. Seconded by Barbara Martin.
Motion carried unanimously.
3. Elect New Officers.
4.
The officers are as follows: President John Payne, Vice-President Beverly Branch and
Secretary/Treasurer Barbara Martin.
Jeff Springer made the motion to leave the officers as they are. Seconded by Beverly
Howard.
Discussion concerning responsibility of Secretary /Treasurer. This is the only officer
who can't sign checks. City Secretary advised this is a rule with First United Bank. It
was discussed that it is convenient for Barbara to sign checks since her office is across
from City Hall.
The motion was amended by Jeff Springer to appoint Barbara Martin as Vice-President
and Beverly Branch as Secretary/Treasurer. Seconded by Scott Stephens. Motion
carried unanimously.
Project Updates.
City Manager addressed the Board with an update on the Millar property. Mr. Millar
bas made an offer to the estate on the property located between Cowling and Interstate
35. This offer has been accepted by the estate and it should take about 90 days to close.
Mr. Millar has requested that we send a letter indicating we are interested in
purchasing the property. City Manager advised Mr. Millar that he could not commit
the City on the purchase of the property; however, the letter could indicate a notice of
interest. The exact acreage is approximately 50 acres. The next step is to proceed with
a survey on the property that the City is interested in purchasing.
Discussion that the 4B will fund the purchase of the property for a regional park. City
Manager discussed the possibility of a bond issuance for this project. The City
Manager advised that there will be a comprehensive plan for the layout of the park.
Discussion continued concerning the project.
5. Schedule Meetings for Upcoming Year.
The Board discussed when to schedule the meetings.
Will Dutton made a motion that the meetings for the 4B be scheduled on the 4th Monday
of every month at 6:00 p.m. Seconded by Beverly Howard. Motion carried
unanimously.
6. Consider Replacing Flagpoles and Concrete in Downtown Parks.
City Manager discussed the flagpoles, the concrete around the memorial, and the
memorial itself. The concrete has shifted and is in bad shape and the area around the
memorial is surrounded with grass. They would like to replace the flagpoles and make
one pole higher for the American Flag.
Barbara Martin expressed if the flagpoles need to be replaced she does not have a
problem, but there are flagpoles in four other places in the City that are the same way.
The flags are flown correctly, and she recommended the City consider adding lights for
visibility.
City Manager discussed that the lights also need to be replaced at the park. The
complaints we receive are regarding the American Flag and the Texas Flag flown at the
same height level. The other complaint concerns the State Flag, is it on the left or right
of the American Flag. If you look at the flags from the memorial, they are flown
correctly; however, if you look at them from the street it is backwards.
President Payne indicated that Texas is the only state that can fly the American Flag
at the same height.
President Payne advised that if they need to be replaced he does not have a problem.
It was the consensus of the board members to instruct the City Manager to move
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forward on getting estimated costs.
City Manager gave an updated report on the Streetscape project.
Discussion concerning the sidewalks and the corners. There have been some difficulties
in tying into some of the buildings.
7. Review Financials.
President Payne gave a brief summary of the total available funds totaling $802,152.14.
The funds are held in certificates of deposits and money market accounts.
Discussed the total sales tax received throughJuly.
City Manager reviewed the proposed budget for 2008/2009 estimated revenues and
expenditures. He discussed the transfer of $25,000 from 4B and 4A to General Fund to
cover administration and advertising expenditures. The administrative cost includes
the City Manager, City Secretary and any other staff member.
City Manager indicated that currently he can't justify the time for a staff position for
Economic Development. He will continue to handle all economic related issues. It was
explained that Ms. Carson is still under contract for specific issues that might require
her expertise. The $25,000 would help cover the costs for that service if it was needed.
City Manager indicated that he did not include any budgeted amount for projects at this
time, since we are not sure of the cost. The budget will be on the next month's agenda
for approval.
8. Adjournment.
President Payne advised the next meeting is scheduled for August 25 at 6:00 p.m.
Jeff Springer made the motion to adjourn the meeting. Seconded by ____ _
Motion carried unanimously •
DOWNTOWN PARK
August 18,2008
Quantity Item Descriptions Unit Price Amount
2 Picnic Tables $ 600 $1,200
2 New Flag Poles $ 700 $1,400
1 35ft. Flag Pole $ 2,200 $2,200
2 30ft. Flag Poles $ 1,600 $3,200
0 New Concrete-around Flag Poles $2,500
0 Metal Fence Around Veterans $650
5 Park Benches $ 675 $3,375
' 5 Trash Can Holder $ 500 $2,500
Total Amount $17,025
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4B ECONOMIC DEVELOPMENT BOARD
REVENUES
' 2008 Budget 2008 Estimated 2009 Proposed
4425 State Sales Tax $ 222,000.00 $ 245,000.00 $ 240,000.00
4800 Interest Income $ 32,000.00 $ 35,000.00 $ 20,000.00
Fund Balance Carryover $ 667,749.00 $ 667,749.00 $ 436,000.00
Other Income
Total Revenues $ 921,749.00 $ 947,749.00 $ 696,000.00
EXPENDITURES
Supplies & Materials
5201 Other
5210 Office Supplies $ 200.00 $ 100.00 $ 200.00
5215 Food
5220, Postage
5225' Maps & Subscriptions $ 200.00 $ 750.00 $ 200.00
5230 Advertising
5235 Dues & Registration $ 250.00 $ 250.00
5240 Travel $ 500.00 $ 750.00
Subtotal $ 1,150.00 $ 850.00 $ 1,400.00
Projects
6500 Projects $ 409,435.00 $ 409,435.00
6505 Loan
Sutotal $ 409,435.00 $ 409,435.00 $ -
Transfer To General Fund for
Admin & Advertising $ 40,000.00 $ 20,000.00 $ 25,000.00
Subtotal $ 40,000.00 $ 20,000.00 $ 25,000.00
Total Expenditures $ 450,585.00 $ 430,285.00 $ 26,400.00
.i Available Fund Balance $ 471,164.00 $ 517,464.00 $ 669,600.00
·•
•
August 19, 2008
Cash Account
4B CD#497371
4B CD 461024
TOTAL
$ 60,603.59
$139,368.08
$602,882.65
$ 802,854.32
8-19-2008 09: 51 AM C I T Y 0 F S A N G E R PAGE:
TRIAL BALANCE
AS OF: JULY 31ST, 2008
42 -4B CORPORATION
**** MONTH TO DATE*"'** +++** YEAR TO DATE*****
CCOUNT NO# TITLE DEBITS CREDITS DEBITS CREDITS
ASSETS
00-1010 CASH MONEY MARKETl2379694 10,527.05 60,603.59
00-1011 SANGER TX DEV. CORP. CD 4 97 371 580.21 139,368.08
00-1012 48 CD 461024 (6669) 2,467.46 602,882.65
00-1053 RECEIVABLE-OTHER 0.00 24,397.63
00-1060 DUE FROM GEN. FUND o. 00 0. 00
00-1062 AMT TO BE PROVIDED FOR L-T-D 0.00 0. 00
LIABILITIES AND FUND BALANCE
00-2201 N/P GNB 0.00 0.00
00-3020 FUND BALANCE 0.03 667,749.20
REVENUES
00-4425 STATE SALES TAX 20,703.08 205,326.01
00-4800 INTEREST INCOME 3,169.64 32,088.51
00-4940 DCNATIONS 0.00 0.00
00-4950 TRANSFER PRIOR YEAR INCOME 0.00 0.00
00-4985 TRANFERS OUT TO 48/PARK EXP 0.00 10,000.00
00-4990 TRANSFERS FROM RESERVES 0.03 157,876.81
EXPENSES
76-5200 CHECK CHARGES 0.00 0.00
76-5210 OFFICE SUPPLIES 0.00 62.80
76-5215 TRAVEL & REGISTRATIONS 0.00 o.oo
76-5220 DUES 0.00 5.00
76-5225 PUBLICATIONS/SUBSCRIPTIONS 203.00 926. 49
76-5235 DUES & REGISTRATION 0. 00 0.00
76-5240 TRAVEL 0.00 0.00
76-5410 INSURANCE 0.00 0.00
76-5420 CONTRACTUAL SERVICES o. 00 o. 00
76-5450 ENGINEERING FEES 0.00 0.00
76-6500 PROJECTS 10,095.00 224,794.29
***TOTALS*** 23,872.75 23,872. 75CR 1,063,040.53 1,063,040.53CR
8-19-2008 09: 50 AM
42 -4B CORPORATION
REV,
REVENUES
4B REVENUES
00-4425 STATE SALES TAX
00-4800 INTEREST INCOME
00-4940 DONATIONS
00-4950 TRANSFER PRIOR YEAR INCOME
00-4985 TRANFERS OUT TO 4B/PARK EXP
00-4990 TRANSFERS FROM RESERns
TOTAL 4B REVENUES
TOTAL REVENUES
C I T Y O F S A N G E R
FINANCIAL STATEMENT
AS OF: JULY 31ST, 2008
CURRENT
BUDGET
222,000.00
32,000.00
0.00
0.00
40,000.00)
225,399.00
439,399.00
439,399.00
CURRENT
PERIOD
20,703.08
3,169.64
0.00
0.00
0.00
o. 03)
23,872.69
23,872.69
Y-T-D % OF
ACTUAL BUDGET
205,326.01 92 .49
32,088.51 100 .28
o.oo 0.00
0.00 0.00
10,000.00) 25.00
157,876.81 70.04
385,291.33 87.69
385,291.33 87.69
Y-T-D
ENCUMB.
o.oo
o. 00
0.00
0.00
0.00
o.oo
0.00
o. 00
PAGE:
BUDGET
BALANCE
16,673.99
88. 51)
o. 00
0. 00
30,000.00)
67,522.19
54,107.67
54,107.67
8-19-2008 09:50 AM,
42 -48 CORPORATION
76-48 ~XPENSES
DEP. T EXPENDITURES
52-SUPPLIES AND MATERIALS
76-5200 CHECK CHARGES
76-5210 OFFICE SUPPLIES
76-5215 TRAVEL & REGISTRATIONS
76-5220 DUES
76-5225 PUBLICATIONS/SUBSCRIPTIONS
76-5235 DUES & REGISTRATION
76-5240 TRAVEL
TOTAL 52-SUPPLIES AND MATERIALS
54-CONTRACT SERVICES
76-5410 INSURANCE
76-5420 CONTRACTUAL SERVICES
76-5450 ENGINEERING FEES
TOTAL 54-CONTRACT SERVICES
65-PROJECT~
76-ROJECTS
TOT.~ 65-PROJECTS
DEPARTMENT TOTAL
TOTAL EXPENDITURES ...
;OTHE:R FINANCING SOURCES (USES)
------------------------------
00-4990 TRANSFERS FROM RESERVES
TOTAL OTHER FINANCING SOURCES (USES)
*** END OF REPORT***
C I T Y O F S A N G E R
FINANCIAL STATEMENT
CURRENT
BUDGET
0.00
200.00
500. 00
250.00
200.00
o.oo
o.oo
1,150.00
100.00
0.00
0.00
100. 00
225,399.00
225,399.00
226,649.00
226,649.00
225,399.00
225,399.00)
-=====---<><==-=
AS OF: JULY 31ST, 2008
CURRENT
PERIOD
0.00
0.00
0.00
o.oo
203.00
0.00
0.00
203.00
0.00
0.00
0.00
0.00
10,095.00
10,095.00
10,298.00
10,298.00
0.03)
0.03
==----===-===--
Y-T-D % OF
ACTUAL BUDGET
0.00 0.00
62.80 31.40
0.00 0.00
5.00 2.00
926.49 463.25
0.00 0.00
0.00 __Q_,__QQ
994.29 86.46
0.00 0.00
0.00 0.00
_____ o_._o_o __Q_,__QQ
0.00 0.00
224,794.29 99.73
224,794.29 99. 73
225,788.58 99. 62
225,788.58 99. 62
157,876.81 70.04
157,876.81) 70. 04
Y-T-D
ENCUMB.
0.00
o.oo
0. 00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
o.oo
0.00
0.00
0. 00
0.00
0.00
0.00
PAGE:
BUDGET
BALANCE
0.00
137.20
500.00
245.00
726.49)
0.00
0.00
155. 71
100.00
0.00
0.00
100.00
604. 71
604. 71
860. 42
860.42
==-~,,..,r---====
67 522 .19
67,522.19)
-=-==-=:z--=====
j
8-19-2008 09:50 AM
42 -4B CORPORATION
REVENUE SUMMARY
4B REVENUES
*** TOTAL REVENUES
EXPENDITURE SUMMARY
76-4B EXPENSES
*"'* TOTAL EXPENDITURES +++
_.. REVENUES OVER (UNDER) EXPENDITURES **
TOTAL OTHER FINANCING SOURCES (USES)
C I T Y O F S A N G E R
FINANCIAL STATEMENT
CURRENT
BUDGET
439,399.00
439,399.00
226,649.00
226,649.00
212,750.00
225,399.00
0.00
225,399.00)
AS OF: JULY 31ST, 2008
CURRENT
PERIOD
23,872.69
23,872.69
10,298.00
10,298.00
13,574.69
-=---===•==:=--=-
0.03)
0. 00
0.03
--==-----
Y-T-D % OF
ACTUAL BUDGET
385,291.33 87.69
385,291.33 87.69
225,788.58 99.62
225,788.58 99.62
159,502.75 74. 97
157,876.81 70.04
0.00 0.00
157,876.81) 70.04
Y-T-D
ENCUMB.
0. 00
0.00
0.00
o. 00
0.00
0.00
0.00
0.00
PAGE:
BUDGET
BALANCE
54,107.67
54,107.67
860.42
860.42
53,247.25
67,522.19
0.00
67,522.19)
48 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 $10,348.82 I $101188.221 $251847.621 $13,993.781 $161264.501 $16I691.41 I $17 1436.57 I I -. . I
FEB. I $9,806.451 $9}63.371 $11,840.641 $141870. 78 I $141840.341 $17z485.76I $21,779.911 $21,513.621 $19 1601.1 o 1 $22,071.091 I
I
MARCH I $61700.021 $101384.631 $8,984.181 $9,209.151 $121446.361 $13,382.911 $141254.431 $161620.931 $161472.34 I $191892.63 : I
APRIL 1 $101075.181 $8,416.521 $91517.251 $9,195.021 $91202.14 I $121224. 77 I $141166.101 $17,198.171 $15,482.00 I $1 a,511.54 I I I
MAY I $91970.221 $10,323.151 $14,946.441 $10,623.561 $15,125.041 $20,311.37! $20,556.141 $17,428.361 $26}67.831 $22,166.33 I
JUNE I $71392.451 $7,953.661 $101131.011 $11,911.061 $141358.11 I $181276.941 $151585.54 I $23,063.991 $17,172.671 $19,338.741
I
JULY I $8,733.021 $71642.301 $12}84.181 $101597.47 I $111370.28 I $161692.36 I $16,914.661 $17,896.761 $19,127.611 $20}03.081 I . t
AUGUST I $12,935.491 $10,854.251 $17 1035.ool $141962.171 $16,132_421 ~19,354.71 I $20,375.58 I $24,003.151 $24,581.421 $251288.44 !
I
SEPT. I · $8,584.581 $7,103.501 $11,612.-081 $12,920.16 I 113,140.491 $15,725.621 $16,977.991 $19,746.741 $26,990.121 !
OCT. ·1 $91 164. 48 I_ $101136.27 I $28,586.961 $131940.441 $11,426.721 $161084.641 $171074.51 I $11,042.771 $24,397.63 I
--;,:-!" ~ ~ < •
NOV. I '$81912.471 $111975.61 I $16,166.711 $14,246.901 $17,184.881 $22,700.731 $20,661.06 f $24,265.79 I $22,846.79 [
DEC. 1 $121594.421 $71860.371 $101397.061 $101198.241 $121570.11 I $16,179.851 $191822.07 I $17,830.91-1 $171961.61 I
f
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 $248,092.53
Investments 07/31/08
4B Certificates of De12osit 1 Monell Market1 and Cash Acct.
Name Acct. # Maturity' Daily Yield Balance Restricted Description *MD
Cash MMKT 00-1010 1.71% $60,603.59
Sanger TX Dev. Corp CD 497371 00-1011 30D 5.00% $139,368.08 y 8/20/2008
4B CD 461024 00-1012 30D 5.00% $602,882.65 y 8/3/2008
*MD Maturity date of CD
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