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07/11/2023-4A-Agenda Packet-Regular4A INDUSTRIAL DEVELOPMENT BOARD MEETING AGENDA JULY 11, 2023, 6:00 PM 4A INDUSTRIAL DEVELOPMENT BOARD REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM INVOCATION AND PLEDGE CITIZENS COMMENTS This is an opportunity for citizens to address the Board on any matter. Comments related to public hearings will be heard when the specific hearing begins. Citizens are allowed 3 minutes to speak. Each speaker must complete the Speaker’s Form and include the topic(s) to be presented. Citizens who wish to address the Board with regard to matters on the agenda will be received at the time the item is considered. The Board is not allowed to converse, deliberate or take action on any matter presented during citizen input. CONSENT AGENDA All items on the Consent Agenda will be acted upon by one vote without being discussed separately unless requested by a Board member to remove the item(s) for additional discussion. Any items removed from the Consent Agenda will be taken up for individual consideration. 1. Consideration and possible action on 4A minutes from 05-02-2023 ACTION ITEMS 2. Consideration and possible action on the 4A Fiscal year 2023-2024 Budget. REPORTS Staff Reports are for discussion only. No action may be taken on items listed under this portion of the agenda. 3. Director’s Report 4. Financial Reports FUTURE AGENDA ITEMS The purpose of this item is to allow the President and Board members to bring forward items they wish to discuss at a future meeting, A Board member may inquire about a subject for 1 which notice has not been given. A statement of specific factual information or the recitation of existing policy may be given. Any deliberation shall be limited to a proposal to place the subject on an agenda for a subsequent meeting. Items may be placed on a future meeting agenda with a consensus of the Board or at the call of the President. ADJOURN NOTE: The Board reserves the right to adjourn into Executive Session as authorized by Texas Government Code, Section 551.001, et seq. (The Texas Open Meetings Act) on any item on its open meeting agenda in accordance with the Texas Open Meetings Act, including, without limitation Sections 551.071-551.087 of the Texas Open Meetings Act. CERTIFICATION I certify that a copy of this meeting notice was posted on the bulletin board at City Hall that is readily accessible to the general public at all times and was posted on the City of Sanger website on June 28, 2023, at 10:30 AM Stefani Dodson Stefani Dodson, Secretary The Historical Church is wheelchair accessible. Request for additional accommodations or sign interpretation or other special assistance for disabled attendees must be requested 48 hours prior to the meeting by contacting the City Secretary’s Office at 940.458.7930. 2 4A INDUSTRIAL DEVELOPMENT BOARD COMMUNICATION DATE: July 11, 2023 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Consideration and possible action on 4A minutes from 05-02-2023 SUMMARY: Consideration and possible action on 4A minutes from 05-02-2023. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: Staff recommends approval. ATTACHMENTS: 4A minutes from 05-02-2023 3 Item 1. 4A Corporation Minutes 05-02-23 Page 1 of 2 4A INDUSTRIAL DEVELOPMENT BOARD MEETING MINUTES MAY 02, 2023, 6:00 PM 4A INDUSTRIAL DEVELOPMENT BOARD REGULAR MEETING DEVELOPMENT SERVICES BUILDING - 201 BOLIVAR STREET, SANGER, TEXAS 76266 CALL THE REGULAR MEETING TO ORDER AND ESTABLISH A QUORUM Board Member Kundrock called the meeting to order at 6:00 P.M. BOARD MEMBERS PRESENT Board Member, Place 1 Chris Kundrock Board Member, Place 2 Sue Allison Board Member, Place 3 Shannon Gann Board Member, Place 4 Nancy McAlister Board Member, Place 5 Drew Hall BOARD MEMBERS ABSENT Board Member, Place 5 Drew Hall STAFF MEMBERS PRESENT: Director of Economic Development Shani Bradshaw, and Secretary Stefani Dodson CITIZENS COMMENTS No citizens came forward to speak CONSENT AGENDA 1. Consideration and possible action on 4A minutes from 04-04-2023 Motion to approve the consent agenda was made by Board Member McAlister, Seconded by Board Member Gann. Voting Yea: Board Member Kundrock, Board Member Allison. The motion passes unanimously. 4 Item 1. 4A Corporation Minutes 05-02-23 Page 2 of 2 REPORTS Staff Reports are for discussion only. No action may be taken on items listed under this portion of the agenda. 2. Financial Reports Director Bradshaw gives a brief update on the financial report. 2. Director’s Report Director Bradshaw gives a brief update on projects she has been working on. FUTURE AGENDA ITEMS There were no future items discussed. EXECUTIVE SESSION Pursuant to the Open Meetings Act, Chapter 551, the 4A Sanger Industrial Development Corporation Will Meet in a Closed Executive Session in Accordance with the Texas Government Code: Sec. 551.072. DELIBERATION REGARDING REAL PROPERTY For deliberations regarding the purchase, exchange, lease, or value of real property if deliberation in an open meeting would have a detrimental effect on the position of the governmental body in negotiations with a third person. Discuss the purchase of real property. Board Member Kundrock convened the meeting into Executive Session at 6:23 PM RECONVENE INTO REGULAR SESSION Reconvene into Regular Session and take any action deemed necessary as a result of Executive Session. Board Member Kundrock reconvened the meeting at 6:511 PM ADJOURN Board Member Kundrock adjourned the meeting at 6:52 PM 5 Item 1. 4A INDUSTRIAL DEVELOPMENT BOARD COMMUNICATION DATE: July 11, 2023 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Consideration and possible action on the 4A Fiscal year 2023-2024 Budget. SUMMARY:  Discuss the Fiscal Year 2023-2024 Budget. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: APPROVE the 4A FY 2023-2024 budget ATTACHMENTS: 4A Budget FY 2023-2024 4A Revenue Expenditures Line Items 6 Item 2. BUDGET Y-T-D PROJECTED AMOUNT % 00-4325 STATE SALES TAX 641,438 727,487 800,000 333,314 799,954 900,000 100,000 12.50% 00-4446 GRANT REVENUE 5,000 5,000 0 0 0 0 0 #DIV/0! 00-4800 INTEREST INCOME 881 28,844 22,000 7,488 17,970 25,000 3,000 13.64% TOTALS 647,319 761,331 822,000 340,802 817,924 925,000 103,000 12.53% VARIANCEGENERAL LEDGER ACCOUNT 2020-2021 ACTUAL 2021-2022 ACTUAL 2022-2023 2023-2024 REQUESTED 7 Item 2. BUDGET Y-T-D PROJECTED AMOUNT % 46-5210 OFFICE SUPPLIES 465 598 500 261 626 500 0 0.00% 46-5213 COMPUTER HARDWARE 0 0 1,500 0 0 1,000 (500)-33.33% 46-5214 COMPUTER SOFTWARE 1,350 0 3,500 2,000 4,800 3,500 0 0.00% 46-5215 FOOD 0 0 200 0 0 200 0 0.00% 46-5220 POSTAGE 0 6 50 0 0 50 0 0.00% 46-5226 MARKETING & PROMOTION 18,009 14,718 25,000 8,292 19,900 50,000 25,000 100.00% 46-5227 BUSINESS RETENTION EXPANSION 0 0 0 0 0 10,000 10,000 #DIV/0! 46-5235 DUES & SUBSCRIPTIONS 2,006 2,187 10,000 4,380 10,511 10,000 0 0.00% 46-5240 CONFERENCES & TRAINING 977 3,229 7,000 319 765 10,000 3,000 42.86% 46-5310 R & M BUILDING 0 0 5,000 0 0 0 (5,000)-100.00% 46-5332 OFFICE MACHINE LEASE 890 730 800 212 508 800 0 0.00% 46-5425 LEGAL SERVICES 0 0 1,000 0 0 1,000 0 0.00% 46-5430 PROFESSIONAL SERVICES 8,115 12,500 23,000 7,913 18,992 23,000 0 0.00% 46-5450 TECHNICAL SUPPORT 937 0 1,000 0 0 1,000 0 0.00% 46-5452 WEBSITE 0 6,188 0 6,080 14,592 0 0 #DIV/0! 46-5455 COMPREHENSIVE PLAN UPDAT 40,070 0 0 0 0 0 0 #DIV/0! CAPITAL REQUEST #1 -$ - CAPITAL REQUEST #2 -$ - CAPITAL REQUEST #3 -$ - CAPITAL REQUEST #4 -$ - CAPITAL REQUEST #5 -$ - TOTALS 72,819.00 40,156.00 78,550.00 29,457.00 70,694.00 111,050.00 32,500.00 41.37% VARIANCE2023-2024 REQUESTEDGENERAL LEDGER ACCOUNT 2020-2021 ACTUAL 2021-2022 ACTUAL 2022-2023 8 Item 2. Page 1 of 2 Sanger Industrial Development (4A) - Revenue and Expenditure Line Items Estimated Revenues 4A Sales Tax – Projected income from sales tax for twelve (12) months. Interest Income. Funds Available – Funds available from Checking, Money Market, and Investment Accounts. Expenditures Salaries and Benefits – Salaries, Vacation Compensation, Longevity Pay, Auto Allowance, Cell Phone Allowance, Retirement, Health Insurance, Workers Comp, Unemployment. Office Supplies – Copier paper, laser cartridges, and other general supplies for day-to-day operations. Food – Board meetings and prospects. Postage – Postage expenses for mailings Marketing/Promotions – 10% of 4A tax proceeds (allowed by law). Ads for specific publications (DRC Relocation Guide, DRC Economic Development Guide, Go Big Texas, RED Journals Economic Guide), billboards, sponsorships, marketing materials, special events, maps, photos, and promotional items for trade shows and recruitment efforts. As the FM 455 and I-35 projects move forward, we will focus on available land and infrastructure for development plus redevelopment opportunities in our market. Our target markets will continue to focus on manufacturing, logistics, distribution centers, professional/corporate offices, retail and restaurant, arts and entertainment, and medical service prospects. This item also covers public and legal notices. Business Retention Program – Small business workshops, welcome letters to new businesses, quarterly newsletters and online information, business surveys, lunches with local businesses, business roundtables, business recognition awards, and workforce development. Dues and Subscriptions – Including, but not limited to cost of membership fees for the International Council of Shopping Centers (ICSC), Dallas Chamber, Texas Economic Development Council (TEDC), Southern Economic Development Councils (SBEDC), Team Texas, International Economic Development Council (IEDC); Sanger Chamber, Denton Chamber, Zoom Prospector, EDOQI (CRM Tool), REsimplifi, Zoom, Magazine/Professional Subscriptions, and Biznow. Conferences and Training – Conferences, tradeshow registration, and attendance with organizations such as, but not limited to, the following: the Texas Economic Development Council (TEDC); International Economic Development Council (IEDC); Southern Economic Development Council (SBEDC); Society of 9 Item 2. Page 2 of 2 Industrial and Office Realtors (SIOR); Industrial Asset Management Council; also includes local and regional conferences that arise. Recruitment efforts with organizations such as the International Council of Shopping Centers (ICSC); Team Texas, Texas ED Connection, the State of Texas, North Texas Commercial Association of Realtors (NTCAR), and others. Travel and related expenses, such as airfare, hotel, and per diem or other travel-related cost. This would be for travel related to, but not limited to, conferences, tradeshows, recruitment efforts, and marketing trips. This item also includes prospect hosting (cost of travel, rental car, lodging, food, and entertainment for prospects). Computer Hardware – Computer hardware and accessories. Computer Supplies – Annual website licenses, software updates, hosting, and troubleshooting. Office Machine Lease – Copier and Printer. Legal Expenses – Legal consultation services, research, opinions, agreements, etc. Furniture and Fixtures – Cost of new or replacement of office furniture. Professional Service – The SIDC contracts various services with professionals and firms for specific projects and tasks, such as strategic planning, engineering, research, study for prospects, utility studies, or other studies that may arise that are needed for economic development. (Marketing analysis, trade area, and demographic reports, survey monkey, maps, and charts, current demographics, and projections needed for brokers and developers.) Technical Support – Maintenance of computer systems and office network. Capital Request – CO Debt Payment – 10 Item 2. 4A INDUSTRIAL DEVELOPMENT BOARD COMMUNICATION DATE: July 11, 2023 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Director’s Report SUMMARY:  Director will provide an update on Economic Development projects, activities, and events. FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: NA ATTACHMENTS: 11 Item 3. DIRECTOR’S REPORT July 2023 1 | P a g e 1. Business Growth and Development Updates:  Quicktrip grand opening has been moved to August 31, 2023. The delay is due to equipment issues.  Starbucks is scheduled for July or August 2023.  90 acres south of Walmart DC has officially closed. Up to 800,000 SF of industrial will be developed. 2. Marketing/Networking:  Quarterly Economic Development Newsletter: Currently has 235 subscribers.  Contract with REsimplifi. They are a property data listing service. They will compile commercial property data for public access on the EDC website.  Completed business spotlight videos for McDonald’s and Silver Lining. Videos are currently being updated and will be posted to social media soon. The next scheduled video is with Gibson Insurance Agency.  Commercial properties available for lease or sale are posted on social media every Tuesday to gain leads and inquiries and increase website traffic.  Create a LinkedIn page for the Sanger EDC. 3. Grant Updates:  4B has approved three Property Enhancement Grants: 311 N. 4th Street, 1106 Stemmons, and 1108 Stemmons 4. Sanger ED Updates:  The Sanger EDC will be a Silver Sponsor for the DFW and North Central Texas Industrial Conference. This event will attract attendees from throughout DFW & Central Texas, including investors and developers a ctive in industrial real estate. 5. Other Updates: Attended  Monthly Ambassador Meeting  Monthly Chamber Luncheons  Glen Polk Chevrolet Groundbreaking Event  Texas Economic Development Conference in Allen 2023 Important Dates  July 3 – City Council Meeting  July 11 – 4A Board Meeting  July 12 – Business Over Breakfast  July 17 – City Council Meeting  July 25 – 4B Board Meeting  July 26 – Chamber Luncheon  July 31 – Ambassador Program Monthly Meeting  August 7 – City Council Meeting  August 9 – Business Over Breakfast  August 13-15 – Southern Economic Development Conference  August 23 – Chamber Luncheon  August 24 – DFW North Central TX Industrial Conference 12 Item 3. 4A INDUSTRIAL DEVELOPMENT BOARD COMMUNICATION DATE: July 11, 2023 FROM: Shani Bradshaw, Director of Economic Development AGENDA ITEM: Financial Reports SUMMARY:  Financial report for the period ending May 31, 2023.  Revenues and expenditures reflect activity from October 1, 2022, through May 31, 2023 FISCAL INFORMATION: Budgeted: NA Amount: NA GL Account: NA RECOMMENDED MOTION OR ACTION: NA ATTACHMENTS:  Monthly Financial Report  Revenue Expense Report  Balance Sheet 13 Item 4. Percent Budget Actual of Budget Revenue Sales Tax 800,000 507,780 63% Interest Income 22,000 33,067 150% Grants 10,040 Total Revenue 822,000 550,887 67% Expenditures Salaries & Benefits 60,500 38,739 64% Supplies & Materials 47,750 23,231 49% Maintenance & Operations 5,800 392 7% Contract Services 25,000 14,293 57% Capital Outlay Debt Service Total Expenditures 139,050 76,655 55% Revenues Over Expenditures 682,950 474,232 Cash in Bank - First United 2,253,873 Cash in Bank - Prosperity 332,402 Money Market 1,989,059 Certificate of Deposit 96,183 Total Cash 4,671,517 May 31, 2023 Fund 4A Sanger Texas Industrial Development Corporation 14 Item 4. 6-23-2023 07:59 AM CITY OF SANGER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: MAY 31ST, 2023 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 66.67 CURRENT CURRENT YEAR TO DATE TOTAL BUDGET % YTD BUDGET PERIOD ACTUAL ENCUMBERED BALANCE BUDGET ____________________________________________________________________________________________________________________________ REVENUE SUMMARY TAXES 800,000 67,274.52 507,780.19 0.00 292,219.81 63.47 GRANTS 0 8,080.00 10,040.00 0.00 ( 10,040.00) 0.00 INTEREST 22,000 8,032.53 33,066.73 0.00 ( 11,066.73) 150.30 TOTAL REVENUES 822,000 83,387.05 550,886.92 0.00 271,113.08 67.02 EXPENDITURE SUMMARY 46-ECONOMIC DEVELOPMENT 139,050 6,216.20 76,654.78 ( 11,379.18) 73,774.40 46.94 74-TRANSFERS 15,000 0.00 15,000.00 0.00 0.00 100.00 ____________________________________________________________________________________________________________________________ TOTAL EXPENDITURES 154,050 6,216.20 91,654.78 ( 11,379.18) 73,774.40 52.11 REVENUE OVER/(UNDER) EXPENDITURES 667,950 77,170.85 459,232.14 11,379.18 197,338.68 70.46 15 Item 4. 6-23-2023 07:59 AM CITY OF SANGER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: MAY 31ST, 2023 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 66.67 CURRENT CURRENT YEAR TO DATE TOTAL BUDGET % YTD REVENUES BUDGET PERIOD ACTUAL ENCUMBERED BALANCE BUDGET ____________________________________________________________________________________________________________________________ TAXES 00-4325 STATE SALES TAX 800,000 67,274.52 507,780.19 0.00 292,219.81 63.47 TOTAL TAXES 800,000 67,274.52 507,780.19 0.00 292,219.81 63.47 GRANTS 00-4446 GRANT REVENUE 0 8,080.00 10,040.00 0.00 ( 10,040.00) 0.00 TOTAL GRANTS 0 8,080.00 10,040.00 0.00 ( 10,040.00) 0.00 INTEREST 00-4800 INTEREST INCOME 22,000 8,032.53 33,066.73 0.00 ( 11,066.73) 150.30 TOTAL INTEREST 22,000 8,032.53 33,066.73 0.00 ( 11,066.73) 150.30 TRANSFERS ____________ ______________ ______________ ______________ ______________ _______ ____________________________________________________________________________________________________________________________ TOTAL REVENUE 822,000 83,387.05 550,886.92 0.00 271,113.08 67.02 ============ ============== ============== ============== ============== ======= 16 Item 4. 6-23-2023 07:59 AM CITY OF SANGER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: MAY 31ST, 2023 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 66.67 CURRENT CURRENT YEAR TO DATE TOTAL BUDGET % YTD DEPARTMENTAL EXPENDITURES BUDGET PERIOD ACTUAL ENCUMBERED BALANCE BUDGET ____________________________________________________________________________________________________________________________ 51-SALARIES AND BENEFITS 46-5110 REGULAR SALARIES 43,050 3,246.64 27,596.44 0.00 15,453.56 64.10 46-5125 LONGEVITY PAY 350 0.00 306.00 0.00 44.00 87.43 46-5128 AUTO ALLOWANCE 3,000 250.00 2,000.00 0.00 1,000.00 66.67 46-5129 CELL PHONE ALLOWANCE 300 25.00 200.00 0.00 100.00 66.67 46-5130 FICA 3,600 265.75 2,273.83 0.00 1,326.17 63.16 46-5140 RETIREMENT 5,600 460.01 3,381.41 0.00 2,218.59 60.38 46-5150 HEALTH INSURANCE 4,200 353.76 2,831.71 0.00 1,368.29 67.42 46-5160 WORKER'S COMPENSATION 250 25.48 149.15 0.00 100.85 59.66 46-5170 T W C 150 0.00 0.00 0.00 150.00 0.00 TOTAL 51-SALARIES AND BENEFITS 60,500 4,626.64 38,738.54 0.00 21,761.46 64.03 52-SUPPLIES AND MATERIALS 46-5210 OFFICE SUPPLIES 500 31.89 418.58 0.00 81.42 83.72 46-5213 COMPUTER HARDWARE 1,500 0.00 764.86 902.31 ( 167.17) 111.14 46-5214 COMPUTER SOFTWARE 3,500 0.00 2,000.00 ( 2,000.00) 3,500.00 0.00 46-5215 FOOD 200 0.00 0.00 0.00 200.00 0.00 46-5220 POSTAGE 50 0.00 0.00 0.00 50.00 0.00 46-5226 MARKETING & PROMOTION 25,000 1,102.25 14,236.73 ( 1,703.12) 12,466.39 50.13 46-5235 DUES & SUBSCRIPTIONS 10,000 58.00 4,811.17 0.00 5,188.83 48.11 46-5240 CONFERENCES & TRAINING 7,000 362.92 1,000.02 0.00 5,999.98 14.29 TOTAL 52-SUPPLIES AND MATERIALS 47,750 1,555.06 23,231.36 ( 2,800.81) 27,319.45 42.79 53-MAINTENANCE AND OPERAT 46-5310 R & M BUILDING 5,000 0.00 0.00 0.00 5,000.00 0.00 46-5332 OFFICE MACHINE LEASE 800 34.50 391.55 744.00 ( 335.55) 141.94 TOTAL 53-MAINTENANCE AND OPERAT 5,800 34.50 391.55 744.00 4,664.45 19.58 54-CONTRACT SERVICES 46-5425 LEGAL SERVICES 1,000 0.00 0.00 0.00 1,000.00 0.00 46-5430 PROFESSIONAL SERVICES 23,000 0.00 8,213.33 ( 3,350.00) 18,136.67 21.14 46-5450 TECHNICAL SUPPORT 1,000 0.00 0.00 0.00 1,000.00 0.00 46-5452 WEBSITE 0 0.00 6,080.00 ( 5,972.37)( 107.63) 0.00 TOTAL 54-CONTRACT SERVICES 25,000 0.00 14,293.33 ( 9,322.37) 20,029.04 19.88 56-GRANT EXPENSES ____________ ______________ ______________ ______________ ______________ _______ 60-CAPITAL OUTLAY < $5K ____________ ______________ ______________ ______________ ______________ _______ 61-CAPITAL OUTLAY ____________ ______________ ______________ ______________ ______________ _______ 17 Item 4. 6-23-2023 07:59 AM CITY OF SANGER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: MAY 31ST, 2023 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 66.67 CURRENT CURRENT YEAR TO DATE TOTAL BUDGET % YTD DEPARTMENTAL EXPENDITURES BUDGET PERIOD ACTUAL ENCUMBERED BALANCE BUDGET ____________________________________________________________________________________________________________________________ 71-DEPRECIATION ____________ ______________ ______________ ______________ ______________ _______ 70-DEBT PAYMENTS ____________ ______________ ______________ ______________ ______________ _______ ____________________________________________________________________________________________________________________________ TOTAL 46-ECONOMIC DEVELOPMENT 139,050 6,216.20 76,654.78 ( 11,379.18) 73,774.40 46.94 18 Item 4. 6-23-2023 07:59 AM CITY OF SANGER PAGE: 5 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: MAY 31ST, 2023 41 -4A CORPORATION 74-TRANSFERS % OF YEAR COMPLETED: 66.67 CURRENT CURRENT YEAR TO DATE TOTAL BUDGET % YTD DEPARTMENTAL EXPENDITURES BUDGET PERIOD ACTUAL ENCUMBERED BALANCE BUDGET ____________________________________________________________________________________________________________________________ 74-TRANSFERS 74-7499 TRANSFER TO I S F 15,000 0.00 15,000.00 0.00 0.00 100.00 TOTAL 74-TRANSFERS 15,000 0.00 15,000.00 0.00 0.00 100.00 ____________________________________________________________________________________________________________________________ TOTAL 74-TRANSFERS 15,000 0.00 15,000.00 0.00 0.00 100.00 TOTAL EXPENDITURES 154,050 6,216.20 91,654.78 ( 11,379.18) 73,774.40 52.11 ============ ============== ============== ============== ============== ======= REVENUE OVER/(UNDER) EXPENDITURES 667,950 77,170.85 459,232.14 11,379.18 197,338.68 70.46 19 Item 4. 6-23-2023 07:58 AM CITY OF SANGER PAGE: 1 BALANCE SHEET AS OF: MAY 31ST, 2023 41 -4A CORPORATION ACCOUNT # ACCOUNT DESCRIPTION BALANCE _____________________________________________________________________________________________ ASSETS ====== 41-00-1000 CLAIM ON CASH 2,253,873.22 41-00-1010 CKG-4A CASH (PROSP 90020693) 332,402.00 41-00-1012 MM-4A INV (PROSP 902551273) 1,989,059.26 41-00-1013 CD - #486639 96,182.64 41-00-1076 MACHINERY & EQUIPMENT 40,950.36 41-00-1079 ACCUMULATED DEPRECIATION ( 516,381.96) 41-00-1153 SALES TAX RECEIVABLE 65,621.30 4,261,706.82 TOTAL ASSETS 4,261,706.82 ============== LIABILITIES =========== 41-00-2000 ACCOUNTS PAYABLE CONTROL 1,857.19 41-00-2403 ACCRUED WAGES PAYABLE 1,623.48 41-00-2900 ENCUMBRANCE ( 2,396.31) 41-00-2910 RESERVE FOR ENCUMBRANCE 2,396.31 TOTAL LIABILITIES 3,480.67 EQUITY ====== 41-00-3015 FUND BALANCE - RESTRICTED 3,381,095.01 TOTAL BEGINNING EQUITY 3,381,095.01 TOTAL REVENUE 968,785.92 TOTAL EXPENSES 91,654.78 TOTAL REVENUE OVER/(UNDER) EXPENSES 877,131.14 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 4,258,226.15 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 4,261,706.82 ============== 20 Item 4.