10/27/2008-4B-Agenda Packet-RegularAGENDA
4B SANGER, TEXAS DEVELOPMENT CORPORATION
MONDAY, OCTOBER 27, 2008
6:00 P.M.
502 ELM STREET
1. Call Meeting to Order.
2. Approve Minutes: August 25, 2008
3. Discussion on Possible Sites for Sports Park.
4. Project Updates:
a) Streetscape
b) Downtown Park
5. Review Financials.
6. 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.
•
MINUTES: SANGER TEXAS DEVELOPMENT CORPORATION
August 25, 2008
MEMBERS
PRESENT: John Payne, Barbara Martin, Beverly Howard, Will Dutton, Scott Stephens,
Beverly Branch ·
MEMBERS
ABSENT: Jeff Springer
OTHERS
PRESENT: City Manager Mike Brice, City Secretary/Asst. City Manager Rose Chavez
1. Call Meeting to Order.
President Payne called meeting to order.
f• Approve Minutes: July 28, 2008
Motion was made by Will Dutton to ,approve the minutes as presented. Seconded by
Beverly Howard. Motion carried unanimously.
3. Consider and Possible Action Expending $17,025.00 For Downtown Park
4.
Improvements.
City Manager clarified the equipment that was needed for the improvements at the
downtown park. The project improvements included (2) picnic tables, (2) new flag
pole lights, (1) 35 ft flag pole, (2) 30 ft flag poles, (5) park benches, (5) trash can holders.
This also included concrete around the flag poles, and a metal fence around the
memorial.
Discussion followed concerning the improvements. City Manager advised it will be 60
days before any funds can be utilized for this project.
Motion made by Beverly Branch to approve the expenditure for $17,025.00 for updated
park equipment. Seconded by Will Dutton. Motion carried unanimously,
Approve Letter oflntent to Purchase the Millar Property and Authorize City Manager
to Negotiate Purchase •
City Manager advised that Mr. Millar has agreed to sell the entire property that includes
the house. Mr. Millar originally wanted to sell the bottom part and develop the top part.
City Manger indicated he has made Mr. Millar an offer to purchase the entire property.
The City Manager's offer to purchase the property was $800,000. Mr. Millar's
attorney contacted him by e-mail and offered a counter offer of $1.0 million. The
property was appraised in 2005 at $1.2 million. Mr. Millar has indicated that the
family had an appraisal done a few weeks ago and it appraised at $600,000. City
Manager has not seen the appraisal; however, the value of the property is worth more
than $600,000, but less than a $1.2 million. The City Manager advised the City has to
get an appraisal done to determine the value.
Discussion concerning the value of the property and the condition of the house. The
house could be utilized for a community center, or offices for parks and recreation. City
Manager advised if the City can't utilize the home, there could be a possibility for a bed
and breakfast facility.
Barbara Martin expressed a concern on the value of the property that includes the
house. She had mixed emotions on whether to spend the money on purchasing the top
part of that property, or applying it toward the soccer fields and concession stand.
Discussion concerning the lay-out of the house and whether it can be utilized for City
use. Barbara Martin expressed a concern that the focus should be on a top-notch sports
facility.
President Payne indicated that the property is on the frontage road making it valuable
in the future if it was s~ld.
Lengthy discussion continued regarding the property, the zoning, and the land use plan.
The possibility of selling the top portion of the property for hotel use. Accessibility use
to the property was also discussed.
Motion was made by Barbara Martin to authorize the City Manger to enter into formal
negotiations to purchase the property. Seconded by Beverly Branch. Motion carried
unanimously.
5. Project Updates.
City Manager gave an update on the "Streetscape Project." The last few blocks will be
the biggest challenge, and will be done last. The contractor is almost done across the
street. They are also getting ready to pour the curb on 4th Street by the vacant lot, and
the sidewalk around the corner. The plan is to have this section completed before the
"Sanger Sellabration." The contractor will resume after the "Sanger Sellabration" on
the completion of the project. The light poles are in, and those will be installed. The
signs, benches, and trash cans are at some stage of production. He hopes the entire
project will be completed by October.
6. Consider and Approve 2008/2009 Budget.
This item was discussed at the last board meeting. City Manager gave a brief summary
of what was discussed at the last meeting.
City Manager addressed financing options. There was a question on whether 4A could
assist with funding this project. The City Manager advised that 4B can fund anything
that 4A can fund; however, 4A can't fund everything that 4B can fund.
Motion was made by Will Dutton to approve the proposed budget for 2008/2009.
Seconded by Scott Stephens. Motion carried unanimously.
7. Review Financials.
City Secretary advised the Board members that the certificate of deposit #497371 was
up for renewal, and we needed to be deposit the funds into the money market account.
There are two outstanding invoices from Reliable Paving for the Streetscape project.
The one that is due for payment is about $62,000. The money market account has
enough funds to pay one of the invoices, and the additional funds are needed for future
draws on the project.
City Secretary advised that the $15,000 check is to finalize the budget transfer. The
board has already transferred $10,000. The financial statements indicate $40,000 to be
transferred; however, this amount was changed during the year by the City Manager
as result of not hiring the person for Economic Development.
Discussion concerning the balances in the accounts.
The board gave the consensus that the certificate of deposit #497371 in the amount of
$139,959.91 is to be deposited in the money market checking account for future expenses.
8. Adjournment.
Beverly Branch made the motion to adjourn. Seconded by Barbara Martin. Motion
carried unanimously.
October 22, 2008
CASH ACCOUNT BALANCE $149,042.64
4B CERTIFICATE OF DEPOSIT $610,512.59
TOTAL FUNDS AVAILABLE $759,555.25
' •
10-22-2008 11: 34 AM CITY OF SANGER PAGE:
BASE TRIAL BALANCE
AS OF: SEPTEMBER 30TH, 2008
42 -48 CORPORATION
*** MONTH TO DATE **+ ""** YEAR TO DATE ***
ACCT# ACCOUNT NAME DEBITS CREDITS DEBITS CREDITS
ASSETS
42-00-1010 CASI;! MONEY MARKET#2379694 83,487.66 127,532.25
42-00-1011 SANGER TX DEV. CORP.CD 497371 0.00 0. 00
42-00-1012 4B CD 461024(6669) 2,571.06 608,013.90
42-00-1053 RECEIVABLE-OTHER 0.00 24,397.63
42-00-1060 DUE FROM GEN. FUND 0.00 0.00
42-00-1062 AMT TO BE PROVIDED FOR L-T-D 0.00 o. 00
TOTAL ASSETS 2,571.06 83,487.66 759,943.78 0.00
LIABILITIES
42-00-2201 N/P GNB 0.00 0.00
TOTAL LIABILITIES 0.00 0.00 0.00 0.00
====-=•""====== =-=--====--Q== -
FUND BALANCE
=========*""'"'
42-00-3020 FUND BALANCE 0.00 667,749.20
TOTAL BEGINNING FUND BALANCE 0.00 0.00 0.00 0.00
TOTAL EQUITY/ FUND BALANCE 0.00 0.00 o.oo 667,749.20
=-=-= ... ==-==-=-=
REVENUES
42-00-4425 STATE SALES TAX 21,583.44 252,197.89
42-00-4800 INTEREST INCOME 2,794.86 38,203.36
42-00-4940 DONATIONS 0.00 0.00
42-00-4950 TRANSFER PRIOR YEAR INCOME 0.00 0.00
42-00-4985 TRANFERS OUT FROM 4 8/ TO GF o. 00 25,000.00
42-00-4990 TRANSFERS FROM RESERVES 0.00 157,876.81
TOTAL REVENUES 0.00 24,378.30 25,000.00 448,278.06
EXPENDITURES
42-76-5200 CHECK CHARGES 0.00 0.00
42-76-5210 OFFICE SUPPLIES 0.00 62. 80
42-76-5215 TRAVEL & REGISTRATIONS 0.00 0.00
42-76-5220 DUES 0.00 5.00
42-76-5225 PUBLICATIONS/SUBSCRIPTIONS 0.00 926.49
42-76-5235 DUES & REGISTRATION o.oo 0.00
42-76-5240 TRAVEL 0.00 o. 00
42-76-5410 INSURANCE o. 00 0.00
42-420 CONTRACTUAL SERVICES 0.00 o.oo
42 50 ENGINEERING FEES 0.00 0.00
42-76-6500 PROJECTS 105,294.90 330,089.19
TOTAL EXPENDITURES 105,294.90 0.00 331,083.48 o. 00
--===-=-*-=---=-=-==--=====-=-=
10-22-2008 11: 34 AM
42 -48 CORPORATION
ACCT# ACCOUNT NAME
EXPENDITURES (CONT)
*** TOTALS BALANCE ***
*** END OF REPORT***
CITY OF SANGER
BASE TRIAL BALANCE
AS OF: SEPTEMBER 30TH, 2008
*** MONTH TO DATE***
DEBITS CREDITS
107,865.96 107,865.96
PAGE:
*** YEAR TO DATE
DEBITS CREDITS
1,116,027.26 1,116,027.26
10-22-2008 11: 19 AM
42 -4B CORPORATION
REVENUE SUMMARY
4B REVENUES
TOTAL REVENUES
EXPENDITURE SUMMARY
76-4B EXPENSES
++-i. 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: SEPTEMBER 30TH, 2008
CURRENT
PERIOD
24,378.30
24,378.30
105,294.90
105,294.90
80,916.60)
0.00
0.00
0.00
Y-T-D % OF
ACTUAL BUDGET
423,278.06 96.33
423,278.06 96.33
331,083.48 146.08
331,083.48 146.08
92,194.58
157,876.81
0.00
157,876.81)
43. 33
70.04
0.00
70.04
Y-T-D
ENCUMB.
0. 00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
PAGE:
BUDGET
BALANCE
16,120.94
16,120.94
104,434.48)
104,434.48)
120,555.42
67,522.19
o. 00
67,522.19)
10-22-2008 11:19 AM C I T Y 0 F S A N G E R PAGE: 2
FINANCIAL STATEMENT
AS OF: SEPTEMBER 30TH, 2008
,42 -4B CORPORATION
REV
CURRENT CURRENT Y-T-D % OF Y-T-D BUDGET
BUDGET PERIOD ACTUAL BUDGET ENCUMB. BALANCE
4B REVENUES
00-4425 STATE SALES TAX 222, ooo. 00 21,583.44 252,197.89 113. 60 0.00 30,197.89)
00-4800 INTEREST INCOME 32,000.00 2,794.86 38,203.36 119. 39 0. 00 6,203.36)
00-4940 DONATIONS 0.00 0.00 0.00 o. 00 o. oo 0.00
00-4950 TRANSFER PRIOR YEAR INCOME 0.00 0.00 o.oo 0. 00 0.00 0.00
00-4985 TRANFERS OUT FROM 4B/ TO GF 40,000.00) 0.00 25,000.00) 62. 50 o.oo 15,000.00)
00-4990 TRANSFERS FROM RESERVES 225,399.00 0.00 157,876.81 70.04 0.00 67,522.19
TOTAL 4B REVENUES 439,399.00 24,378.30 423,278.06 96. 33 0.00 16,120.94
* ** TOTAL REVENUES 439,399.00 24,378.30 423,278.06 96.33 o. oo 16,120.94
10-22-2008 11: 19 AM C I T Y 0 F S A N G E R PAGE: 3
FINANCIAI STATEMENT
AS OF: SEPTEMBER 30TH, 2008
42 -48 CORPORATION.
76-4B EXPENSES
DEP T EXPEND! TURES
CURRENT CURRENT Y-T-D % OF Y-T-D BUDGET
BUDGET PERIOD ACTUAI BUDGET ENCUMB. BAIANCE
----------------------------------------------------------------------------------------------------------------------------------
52-SUPPLIES AND MATERIAIS
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
TOTAI 52-SUPPLIES AND MATERIAIS
54-CONTRACT SERVICES
76-5410 INSURANCE
76-5420 CONTRACTUAI SERVICES
7 6-54 50 ENGINEERING FEES
TOTAI 54-CONTRACT SERVICES
65-PROJECT~
76-
TO
,OJECTS
65-PROJECTS
DEPARTMENT TOTAI
TOTAI EXPENDITURES
OTHER FINANCING SOURCES
...
{USES)
------------------------------
00-4990 TRANSFERS FROM RESERVES
TOTAI OTHER FINANCING SOURCES {USES)
*** END OF REPORT***
0.00
200.00
500. 00
250. 00
200.00
0.00
0. 00
1,150.00
100. 00
0. 00
o.oo
100. 00
225,399.00
225,399.00
226,649.00
226,649.00
=-----,,.---=--=
225,399.00
225,399.00)
0.00
0.00
0.00
o.oo
0.00
0.00
0.00
0.00
0.00
0.00
0. 00
0.00
105,294.90
105,294.90
105,294.90
105,294.90
0. 00
0.00
o. 00 0.00
62.80 31.40
0.00 0.00
5.00 2.00
926. 49 463.25
0.00 o.oo
0.00 _Q__,_Q.Q
994.29 86.46
0.00 0.00
0. 00 0. 00
____ _.c.o~. o=o _Q__,_Q.Q
0.00 0.00
330,089.19 146.45
330,089.19 146.45
331,083.48 146.08
331,083.48 146.08
==-=-=-===•=-====
157,876.81 70.04
157,876.81) 70.04
""""""'""--""--=-=-=
0.00
0.00
0. 00
0.00
0.00
0.00
o.oo
o.oo
0.00
0. 00
0.00
0.00
0.00
0.00
o. 00
0.00
0.00
0.00
0.00
137 .20
500. 00
245.00
726. 49)
0.00
o.oo
155. 71
100.00
0.00
0. 00
100.00
104,690.19)
104,690.19)
104,434.48)
104,434.48)
67,522.19
67,522.19)
48 DEPOSITS
1999 2000 2001 2002 2003 2004 . I 2005 2006 2007 I 2008 j
• I
$16,691.411 $17,436.571 JAN. $6,691.041 $8,083.931 $8,937.431 $10,348.821 $10,188.221 $25,847.621 $13,993.781 $16,264.501
$19,601.101 $22,071 .. 09 I
' ,, .,
FEB. $9,806.45 I $9,763.37 I $11,840.64 ! $14,870.781 $14,840.34! $17,485.761 $21,779.911 $21,513.621
MARCH
(
$6,700.021 $10,384.631 $8,984.18 $9,209.151 $12,446.361 $13,382.911 $14,254.431 $16,620.931 $16,472.341 $19,892.631
. .. . ·{
APRIL $10,075.181 $8,416.521 $9,517.251 $9,195.021 $9,202.14! $12,224.77! $14,166.101 $17,198.17! $15,482.00! $18,511.541
~ ,J
MAY $9,970.221 $10,323.151 $14,946.441 $10,623.561 $15,125.041 $20,311.371 $20,556.141 $17,428.361 $26,767.83! $22,166.331
. '.,
lt '
JUNE $7,392.451 $7,953.66! $10,131.01 I $11,911.06! $14,358.111 $18,276.941 $15,585.54! $23,063.991 $17,172.671 $19,338.741
JULY $8,733.021 $7,642.301 $12,784.18 $10,597.471 $11,370.281 $16,692.361 $16,914.661 $17,896.761 $19,127.611 $20,703.08
$14,962.171 $16,132.42! $19,354.711 $20,375.58[ $24,003.151 $24,581.421 $25,288.441
.. ·1
AUGUST I $12,935.491 $10,854.2~1 $17,035.001
. i
SEPT. I $81584.58! $7,103.501 $11,612.081 $12,928.16! $13,140.491 $15?25.621 $16,977.99! $19?46.74! $26,990.121 $21,583.441
l
$13,940.44 ! $11,426.121 $16,084.641 $11,014.s11 $11,042.n 1 $24,397.63 I $21.s10_391 OCT. $9,164.481 $10. 136.21 I $28,586.96!
I
NOV. $8,912.471 $11,975.611 $16,166.711 $14,246.sol $11,184.881 $22,100.131 $20,661.061 $24,265.791 $22,846.791 1
~,i--' I
DEC. 1 $12,594.421 $7,860.371 $10,397.061 $10,198.241 $12,510.111 $16,179.851 $19,822.011 $17,830.911 $1~.961.61 I 1
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
•