HomeMy WebLinkAboutRES 4B 2015-01RESOLUTION NO. 413-2015-01
A RESOLUTION OF THE GRAPEVINE 4B ECONOMIC
DEVELOPMENT CORPORATION OF THE CITY OF
GRAPEVINE, TEXAS, ADOPTING AND PROPOSING A
BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER
1, 2015 AND ENDING SEPTEMBER 30, 2016; PROVIDING
FOR INVESTMENT OF CERTAIN FUNDS AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the provisions of Article 5190.6, Texas Revised Civil Statutes, the
Industrial Development Act of 1979, Section 4B, and the Corporation Bylaws adopted
by the Grapevine 4B Economic Development Corporation Board of Directors requires
the 4B Corporation to prepare a budget proposal; and
WHEREAS, the Grapevine 413 Economic Development Corporation has adopted
the same fiscal year as the City of Grapevine; and
WHEREAS, all legal prerequisites for the adoption of this resolution have been
met, including but not limited to the Local Government Code and the Open Meetings
Act; and
WHEREAS, the Grapevine 4B Board hereby declares that the approval of this
resolution is in the best interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT RESOLVED BY THE GRAPEVINE 4B ECONOMIC
DEVELOPMENT CORPORATION OF THE CITY OF GRAPEVINE, TEXAS:
Section 1. That a budget proposal has been prepared by the Grapevine 4B
Economic Development Corporation Board, a copy of which is attached hereto as
Exhibit "A".
Section 2. That the Grapevine 4B Economic Development Corporation Board
adopts the proposed operating budget for fiscal year ending September 30, 2016.
Section 3. That the City Manager is hereby authorized to make appropriate
expenditures, transfers and other financial transactions during the fiscal year pursuant
to the Corporation bylaws.
Section 4. That the City Manager, and/or Assistant City Manager and/or Chief
Financial Officer and/or designated investment officer are authorized to invest any funds
not needed for current use in Official City Depositories, in any investment instrument
authorized by the City's Investment Policy and Investment Strategy and allowed by the
Texas Public Funds Investment Act.
Section 5. That this budget proposal be transmitted to the Grapevine City
Council and recommended for approval and inclusion in its operating budget for Fiscal
Year 2016.
Section 6. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE GRAPEVINE 4B ECONOMIC
DEVELOPMENT CORPORATION BOARD OF DIRECTORS OF THE CITY OF
GRAPEVINE, TEXAS on this the 15th day of September, 2015.
APPROVED:
William D. Tate
President
ATTEST:
Tara Brooks
City Secretary
John F. Boyle, Jr.
City Attorney
RES. NO. 4B 2015-01 2
EXHIBIT TO113 gots o(
FY 2015-16 PROPOSED OPERATING BUDGET F age Of --
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
4B TRANSIT FUND
(BEGINNING FUND BALANCE:
OPERATING REVENUE:
Sales Tax
Interest Income
Miscellaneous
Total Operating Revenue
TRANSFERS IN:
Transfer in from Visitor Shuttle I
Total Transfers In
2012-13
Actual
2013-14 2014-15 2014-15 2015-16
Actual Budget Estimate Proposed
12,290,417
13,012,488
13,305,644
13,839,252
14,250,000
17,649
5,919
27,000
17,000
6,000
0
19 500 000
0
p
0
12,308,066
32,518,407
13,332,644
--4-3,8'56
nun
0
244,460 p
c.
0
0 0
TOTAL REVENUE AND TRANSFERS 12,552,526 32,518,407 13,332,644 13,856 52 14,256,000
OPERATING EXPENDITURES:
Personnel
Supplies
Services
Contractual Services - The T 318 Cent
Community Distributions
Capital Outlay
Total Operating Expenditures
TRANSFERS OUT:
Transfer to Visitor Shuttle Fund
Transfer to Economic Development Fund
Transfer to General Mmrl - Arim;n F...
Total Transfers Out
0
p
0
0
p
0
0
0
0
0
3,491
713,534
290,000
495,382
7,046,398
8,619,843
8,829,174
9,084,424
9,084,424
9,740,000
100,000
100,000
0
0
0
0
29 498 663
0
0
p
8,723,334
39,141,371
9,374,424
9,579,806
16,786,398
298,819
365,179
344,809
344,809
372,500
0
2,000,000
3,326,411
3,459,813
3,562,500
272,548
283 450251,356
251,356
0
571,368
2,648,629
3,922,576
4,055,978
3,935,000
TOTAL EXPENDITURES AND TRANSFERS ___j,2 702 41,790,000 13,296,999 13 635,784 20,721 398
SURPLUS (DEFICIT) OF REVENUE
OVER (UNDER) EXPENDITURES: 3,257,824 (9.271.592) 'Mr,
ENDING FUND BALANCE: 161545778 6,883,186 6,918 830 7103,654 638,256
RESERVES:
Reserved for Economic Development Projects
Total Reserves
2,173,242 638,256 638,256
13,981,536 6,244,930 6,280,574
16,154,778 6,883,186 6,918,830
638,256 638,256
§,465,398 0
7,103,654 638.256