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06/06/2018-4A-Agenda Packet-Regular
MINUTES: 4A Sanger Industrial Development Corporation October 3, 2017 MEMBERS PRESENT: Elizabeth Springer, Fred Yeatts, and Don Gillum MEMBERS ABSENT: John Jacobs OTHERS PRESENT: Director of Economic and Community Development Alina Ciocan, Permit Technician Michelle Burke Mike Todd and Tracy Krierim – Sable Creek 1. Call Meeting to Order. Don Gillum called the meeting to order. 2. Executive Session: Closed Meeting. The Board met in Executive Session to discuss deliberations regarding real property and Economic Development. 3. Reconvene: Open Meeting. Action taken from Executive Session: None. 4. Approve Minutes: August 1, 2017 Minutes approved unanimously after a motion to approve by Elizabeth Springer and a second by Fred Yeatts. 5. Election of Officers. Elizabeth Springer made a motion to keep the officers the same for the next year, with a second by Fred Yeatts. Motion approved unanimously. 6. Review Financials. No comments. 7. Citizen Comments. Mike Todd, developer with Sable Creek wanted to know what the vision is for what the EDC is trying to do. Wanted to know if there was any way for the developers to get involved in projects to help that effort. Discussed the frontage property that Sable Creek owns at Indian Lane and 455. Discussed ways to make downtown Sanger more appealing. 8. Meeting Adjourned. Elizabeth Springer made a motion to adjourn the meeting with a second from Fred Yeatts. The motion passed unanimously. Percent Budget Actual of Budget Revenue Sales Tax 385,000 142,001 37% Interest Income 1,000 810 81% Rental Income $0 $0 0% Transfer from 4B 25,000 ‐ 0% Transfer from Enterprise Fund 25,000 ‐ 0% Total Revenue 436,000 142,811 33% Expenditures Salaries & Benefits 126,227 37,439 30% Supplies & Materials 17,600 732 18% Maintenance & Operations 5,880 ‐ 0% Contract Services 36,250 118 0.3% Utilities 4,100 $0 0% Capital Outlay $0 $0 $0 Debt Service 61,267 20,422 33% Total Expenditures 251,324 58,711 23% Revenues Over Expenditures 184,676 84,100 Cash in Bank ‐ First United 345,195 Cash in Bank ‐ Prosperity 422,776 Money Market 469,643 Certificate of Deposit 94,586 Total Cash 1,332,200 January 31, 2018 Fund 4A Sanger Texas Industrial Development Corporation 2013 2014 2015 2016 2017 2018 OCT 23,310 25,572 26,843 29,528 33,532 36,117 NOV 28,064 28,823 31,897 36,744 36,725 38,951 DEC 25,854 27,350 28,786 30,055 37,133 32,669 JAN 24,097 23,812 41,810 28,916 32,386 34,264 FEB 26,189 27,381 38,909 35,203 42,385 MAR 21,635 22,628 29,841 30,091 34,273 APR 25,163 27,445 29,329 31,321 29,088 MAY 28,095 37,356 33,641 34,401 42,345 JUN 28,181 26,167 29,030 32,746 30,853 JUL 24,929 27,420 27,800 32,803 35,710 AUG 29,775 29,546 35,487 37,628 42,725 SEP 29,761 31,256 33,366 31,646 38,361 TOTAL 315,055 334,755 386,739 391,082 435,516 142,001 BUDGET 250,000 300,000 320,000 362,500 362,500 385,000 4A & 4B SALES TAX REVENUE $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 2013 2014 2015 2016 2017 TOTAL REVENUE 2012 ‐2017 2-14-2018 11:23 AM CITY OF SANGER PAGE: 1 BALANCE SHEET AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION ACCOUNT # ACCOUNT DESCRIPTION BALANCE _____________________________________________________________________________________________ ASSETS ====== 41-00-1000 CLAIM ON CASH 345,194.85 41-00-1010 CKG-4A CASH (PROSP 90020693) 422,776.19 41-00-1012 MM-4A INV (PROSP 902551273) 469,642.68 41-00-1013 CD - #486639 94,585.80 41-00-1153 SALES TAX RECEIVABLE 67,407.54 1,399,607.06 TOTAL ASSETS 1,399,607.06 ============== LIABILITIES =========== 41-00-2000 ACCOUNTS PAYABLE CONTROL 1,049.18 41-00-2403 ACCRUED WAGES PAYABLE 1,500.00 41-00-2404 ACCRUED FICA PAYABLE 114.75 41-00-2900 Encumbrances ( 1,650.00) 41-00-2910 Reserve for Encumbrance 1,650.00 TOTAL LIABILITIES 2,663.93 EQUITY ====== 41-00-3015 FUND BALANCE - RESTRICTED 1,312,842.81 TOTAL BEGINNING EQUITY 1,312,842.81 TOTAL REVENUE 142,810.99 TOTAL EXPENSES 58,710.67 TOTAL REVENUE OVER/(UNDER) EXPENSES 84,100.32 TOTAL EQUITY & REV. OVER/(UNDER) EXP. 1,396,943.13 TOTAL LIABILITIES, EQUITY & REV.OVER/(UNDER) EXP. 1,399,607.06 ============== 2-14-2018 11:23 AM CITY OF SANGER PAGE: 1 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 33.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ REVENUE SUMMARY TAXES 385,000.00 34,264.36 0.00 142,001.06 0.00 242,998.94 36.88 GRANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST 1,000.00 208.14 0.00 809.93 0.00 190.07 80.99 RENTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TRANSFERS 50,000.00 0.00 0.00 0.00 0.00 50,000.00 0.00 TOTAL REVENUES 436,000.00 34,472.50 0.00 142,810.99 0.00 293,189.01 32.75 EXPENDITURE SUMMARY 46-ECONOMIC DEVELOPMENT 247,224.00 14,453.71 0.00 58,710.67 0.00 188,513.33 23.75 74-TRANSFERS 4,100.00 0.00 0.00 0.00 0.00 4,100.00 0.00 ___________________________________________________________________________________________________________________________________ TOTAL EXPENDITURES 251,324.00 14,453.71 0.00 58,710.67 0.00 192,613.33 23.36 REVENUE OVER/(UNDER) EXPENDITURES 184,676.00 20,018.79 0.00 84,100.32 0.00 100,575.68 45.54 2-14-2018 11:23 AM CITY OF SANGER PAGE: 2 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION FINANCIAL SUMMARY % OF YEAR COMPLETED: 33.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF REVENUES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ TAXES 00-4325 STATE SALES TAX 385,000.00 34,264.36 0.00 142,001.06 0.00 242,998.94 36.88 TOTAL TAXES 385,000.00 34,264.36 0.00 142,001.06 0.00 242,998.94 36.88 GRANTS 00-4446 Grant Revenue 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL GRANTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST 00-4800 INTEREST INCOME 1,000.00 208.14 0.00 809.93 0.00 190.07 80.99 TOTAL INTEREST 1,000.00 208.14 0.00 809.93 0.00 190.07 80.99 RENTAL INCOME 00-4900 RENTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL RENTAL INCOME 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TRANSFERS 00-4980 Transfer from Ent Fund 25,000.00 0.00 0.00 0.00 0.00 25,000.00 0.00 00-4986 Transfer from 4B 25,000.00 0.00 0.00 0.00 0.00 25,000.00 0.00 TOTAL TRANSFERS 50,000.00 0.00 0.00 0.00 0.00 50,000.00 0.00 ___________________________________________________________________________________________________________________________________ TOTAL REVENUES 436,000.00 34,472.50 0.00 142,810.99 0.00 293,189.01 32.75 ============== ============ ============ ============= ============ ============ ====== 2-14-2018 11:23 AM CITY OF SANGER PAGE: 3 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 33.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 51-SALARIES AND BENEFITS 46-5110 REGULAR SALARIES 91,910.00 7,076.92 0.00 28,211.53 0.00 63,698.47 30.69 46-5111 MERIT INCREASE 3,217.00 0.00 0.00 0.00 0.00 3,217.00 0.00 46-5117 VACATION COMPENSATION 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-5120 OVERTIME EXPENSE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-5125 LONGEVITY PAY 148.00 0.00 0.00 118.40 0.00 29.60 80.00 46-5128 AUTO ALLOWANCE 6,000.00 500.00 0.00 2,000.00 0.00 4,000.00 33.33 46-5129 CELL PHONE ALLOWANCE 600.00 50.00 0.00 200.00 0.00 400.00 33.33 46-5130 FICA 7,793.00 576.18 0.00 2,296.70 0.00 5,496.30 29.47 46-5140 RETIREMENT 8,099.00 597.27 0.00 2,364.21 0.00 5,734.79 29.19 46-5150 HEALTH INSURANCE 7,800.00 522.34 0.00 2,247.57 0.00 5,552.43 28.82 46-5160 WORKER'S COMPENSATION 489.00 0.00 0.00 0.00 0.00 489.00 0.00 46-5170 T W C 171.00 0.44 0.00 0.44 0.00 170.56 0.26 46-5180 MEDICAL/PHYSICALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-5182 BACKGROUND CHECKS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL 51-SALARIES AND BENEFITS 126,227.00 9,323.15 0.00 37,438.85 0.00 88,788.15 29.66 52-SUPPLIES AND MATERIALS 46-5210 OFFICE SUPPLIES 800.00 0.00 0.00 0.00 0.00 800.00 0.00 46-5215 FOOD 300.00 0.00 0.00 37.08 0.00 262.92 12.36 46-5226 MARKETING & PROMOTION 10,000.00 0.00 0.00 262.50 0.00 9,737.50 2.63 46-5235 DUES & SUBSCRIPTIONS 2,000.00 25.00 0.00 432.00 0.00 1,568.00 21.60 46-5240 CONFERENCES AND TRAINING 4,000.00 0.00 0.00 0.00 0.00 4,000.00 0.00 46-5280 COMPUTERS, PRINTERS, ETC 500.00 0.00 0.00 0.00 0.00 500.00 0.00 46-5285 FURNITURE AND FIXTURES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-5298 NON CAP SUPPLIES & MATERIALS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL 52-SUPPLIES AND MATERIALS 17,600.00 25.00 0.00 731.58 0.00 16,868.42 4.16 53-MAINTENANCE AND OPERAT 46-5310 R & M BUILDING 5,000.00 0.00 0.00 0.00 0.00 5,000.00 0.00 46-5332 OFFICE MACHINE LEASE 880.00 0.00 0.00 0.00 0.00 880.00 0.00 TOTAL 53-MAINTENANCE AND OPERAT 5,880.00 0.00 0.00 0.00 0.00 5,880.00 0.00 54-CONTRACT SERVICES 46-5430 PROFESSIONAL SERVICE 33,000.00 0.00 0.00 0.00 0.00 33,000.00 0.00 46-5450 TECHNICAL SUPPORT 1,500.00 0.00 0.00 118.00 0.00 1,382.00 7.87 46-5451 ANNUAL SOFTWARE SUPPORT 1,750.00 0.00 0.00 0.00 0.00 1,750.00 0.00 TOTAL 54-CONTRACT SERVICES 36,250.00 0.00 0.00 118.00 0.00 36,132.00 0.33 56-GRANT EXPENSES 46-5610 Grant Expense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL 56-GRANT EXPENSES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2-14-2018 11:23 AM CITY OF SANGER PAGE: 4 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION 46-ECONOMIC DEVELOPMENT % OF YEAR COMPLETED: 33.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 60-CAPITAL OUTLAY < $5K 46-6025 COMPUTER HARDWARE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-6026 COMPUTER SOFTWARE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 46-6040 OFFICE FURNITURE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL 60-CAPITAL OUTLAY < $5K 0.00 0.00 0.00 0.00 0.00 0.00 0.00 61-CAPITAL OUTLAY > $5K 46-6120 BUILDING IMPROVEMENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTAL 61-CAPITAL OUTLAY > $5K 0.00 0.00 0.00 0.00 0.00 0.00 0.00 70-DEBT PAYMENTS 46-7007 NOTE PAYMENTS - WAREHOUSE 46,014.00 3,747.02 0.00 14,987.99 0.00 31,026.01 32.57 46-7099 INTEREST EXPENSE 15,253.00 1,358.54 0.00 5,434.25 0.00 9,818.75 35.63 TOTAL 70-DEBT PAYMENTS 61,267.00 5,105.56 0.00 20,422.24 0.00 40,844.76 33.33 ___________________________________________________________________________________________________________________________________ TOTAL 46-ECONOMIC DEVELOPMENT 247,224.00 14,453.71 0.00 58,710.67 0.00 188,513.33 23.75 2-14-2018 11:23 AM CITY OF SANGER PAGE: 5 REVENUE & EXPENSE REPORT (UNAUDITED) AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION 74-TRANSFERS % OF YEAR COMPLETED: 33.33 CURRENT CURRENT PRIOR YEAR Y-T-D Y-T-D BUDGET % OF DEPARTMENTAL EXPENDITURES BUDGET PERIOD PO ADJUST. ACTUAL ENCUMBRANCE BALANCE BUDGET ___________________________________________________________________________________________________________________________________ 74-TRANSFERS 74-7401 TRANSFER TO GF 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74-7404 TRANSFERS TO CIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74-7408 Transfer to Enterprise Fund 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74-7484 TRANSFER TO ENT CIP 0.00 0.00 0.00 0.00 0.00 0.00 0.00 74-7499 TRANSFER TO I S F 4,100.00 0.00 0.00 0.00 0.00 4,100.00 0.00 TOTAL 74-TRANSFERS 4,100.00 0.00 0.00 0.00 0.00 4,100.00 0.00 ___________________________________________________________________________________________________________________________________ TOTAL 74-TRANSFERS 4,100.00 0.00 0.00 0.00 0.00 4,100.00 0.00 TOTAL EXPENDITURES 251,324.00 14,453.71 0.00 58,710.67 0.00 192,613.33 23.36 ============== ============ ============ ============= ============ ============ ====== ** REVENUE OVER(UNDER) EXPENDITURES ** 184,676.00 20,018.79 0.00 84,100.32 0.00 100,575.68 45.54 2-14-2018 11:24 AM CITY OF SANGER PAGE: 1 BASE TRIAL BALANCE AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION *** MONTH TO DATE *** *** YEAR TO DATE *** ACCT# ACCOUNT NAME DEBITS CREDITS DEBITS CREDITS ______________________________________________________________________________________________________________________ ASSETS ====== 41-00-1000 CLAIM ON CASH 24,911.95 345,194.85 41-00-1010 CKG-4A CASH (PROSP 90020693) 5,069.60 422,776.19 41-00-1012 MM-4A INV (PROSP 902551273) 144.07 469,642.68 41-00-1013 CD - #486639 28.11 94,585.80 41-00-1153 SALES TAX RECEIVABLE 0.00 67,407.54 ______________ TOTAL ASSETS 25,084.13 5,069.60 1,399,607.06 0.00 ============== ============== ============== ============== LIABILITIES =========== 41-00-2000 ACCOUNTS PAYABLE CONTROL 4.26 1,049.18 41-00-2403 ACCRUED WAGES PAYABLE 0.00 1,500.00 41-00-2404 ACCRUED FICA PAYABLE 0.00 114.75 41-00-2900 Encumbrances 0.00 1,650.00 41-00-2910 Reserve for Encumbrance 0.00 1,650.00 TOTAL LIABILITIES 4.26 0.00 1,650.00 4,313.93 ============== ============== ============== ============== FUND BALANCE ============ 41-00-3015 FUND BALANCE - RESTRICTED 0.00 1,312,842.81 TOTAL EQUITY/FUND BALANCE 0.00 0.00 0.00 1,312,842.81 ============== ============== ============== ============== REVENUES ======== 41-00-4325 STATE SALES TAX 34,264.36 142,001.06 41-00-4800 INTEREST INCOME 208.14 809.93 TOTAL REVENUES 0.00 34,472.50 0.00 142,810.99 ============== ============== ============== ============== EXPENDITURES ============ 41-46-5110 REGULAR SALARIES 7,076.92 28,211.53 41-46-5125 LONGEVITY PAY 0.00 118.40 41-46-5128 AUTO ALLOWANCE 500.00 2,000.00 41-46-5129 CELL PHONE ALLOWANCE 50.00 200.00 41-46-5130 FICA 576.18 2,296.70 41-46-5140 RETIREMENT 597.27 2,364.21 41-46-5150 HEALTH INSURANCE 522.34 2,247.57 41-46-5170 T W C 0.44 0.44 41-46-5215 FOOD 0.00 37.08 41-46-5226 MARKETING & PROMOTION 0.00 262.50 41-46-5235 DUES & SUBSCRIPTIONS 25.00 432.00 41-46-5450 TECHNICAL SUPPORT 0.00 118.00 41-46-7007 NOTE PAYMENTS - WAREHOUSE 3,747.02 14,987.99 2-14-2018 11:24 AM CITY OF SANGER PAGE: 2 BASE TRIAL BALANCE AS OF: JANUARY 31ST, 2018 41 -4A CORPORATION *** MONTH TO DATE *** *** YEAR TO DATE *** ACCT# ACCOUNT NAME DEBITS CREDITS DEBITS CREDITS ______________________________________________________________________________________________________________________ EXPENDITURES (CONT) ==================== 41-46-7099 INTEREST EXPENSE 1,358.54 5,434.25 ______________ TOTAL EXPENDITURES 14,453.71 0.00 58,710.67 0.00 ============== ============== ============== ============== ______________________________________________________________________________________________________________________ *** TOTALS BALANCE *** 39,542.10 39,542.10 1,459,967.73 1,459,967.73 ============== ============== ============== ============== *** END OF REPORT ***