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Home My WebLink AboutRES 4B 2023-01GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION RESOLUTION NO. 4B 2023-01 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, 2023 AND ENDING SEPTEMBER 30, 2024; 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 4B Economic Development Corporation has adopted the same fiscal year as the City of Grapevine; and WHEREAS, all constitutional and statutory prerequisites for the approval of this resolution have been met, including but not limited to the Open Meetings Act and Chapter 211 of the Local Government Code; and WHEREAS, the City Council deems the adoption of this ordinance to be in the best interests of the health, safety, and welfare of the public. NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1. That all matters stated hereinabove are found to be true and correct and are incorporated herein by reference as if copied in their entirety. Section 2. 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 3. That the Grapevine 4B Economic Development Corporation Board adopts the proposed operating budget for fiscal year ending September 30, 2024. Section 4. 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 5. 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 6. That this budget proposal be transmitted to the Grapevine City Council and recommended for approval and inclusion in its operating budget for Fiscal Year 2024. Section 7. 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 5th day of September, 2023. APPROVED: William D. Tate President ATTEST: Tara Brooks City Secretary APPROVED AS TO FORM: (�_). Q0, Matthew C.G. Boyle City Attorney 13MpC 0EVE4, AOW- 1 Resolution No. 4132023-01 2 Exhibit "A" FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE 4B TRANSIT FUND 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 22,918 23,347 23,347 45,511 OPERATING REVENUE: Sales Tax 9,584,397 12,722,205 12,525,000 12,525,000 14,062,500 Interest Income 63 - 10,000 10,617 10,000 Total Operating Revenue 9,584,460 12,722,205 12,535,000 12,535,617 14,072,500 TOTAL REVENUE AND TRANSFERS 9,584,460 12,722,205 12,535,000 12,535,617 14,072,500 OPERATING EXPENDITURES: Contractual Services - Trinity Metro 9,305,545 12,550,487 12,060,238 12,049,621 13,653,337 Total Operating Expenditures 9,305,545 12,550,487 12,060,238 12,049,621 13,653,337 TRANSFERS OUT: Transfer to Visitor Shuttle Fund 279,852 148,372 464,762 463,832 409,163 Transfer to Economic Development 22,981 - - - - Total Transfers Out 301,833 148,372 464,762 463,832 409,163 TOTAL EXPENDITURES AND TRANSFERS 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 SURPLUS/ (DEFICIT) (22,918) 23,346 10,000 22,164 10,000 ENDING FUND BALANCE: - 23,347 33,347 45,511 55,511 4B TRANSIT FUND (120) REVENUE DETAIL 31204 Sales Tax SALES TAX 39230 Interest Income INTEREST INCOME TOTAL 4B TRANSIT Change Change from from 2020-21 2021-22 2022-23 2022-23 2023-24 FY22 FY23 Actual Actual Budget Estimate Proposed Actual Budget 9,584,397 12,722,205 12,525,000 12,499,950 14,062,500 11 % 12% 9,584,397 12,722,205 12,525,000 12,525,000 14,062,500 11% 12% 63 - 10,000 9,980 10,000 0% 63 - 10,000 10,617 10,000 0% 9,584,460 12,722,205 12,535,000 12,535,617 14,072,500 11% 12% FY 2023-24 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS DEPARTMENTAL SUMMARY EXPENDITURES BY DIVISION 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed 4B Transit (Trinity Metro) 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 Total 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 FY 2023-24 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS 4B TRANSIT SUMMARY FUND 120 EXPENDITURES BY OBJECT 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed Supplies - 633,793 - - - Services 9,305,545 11,916,694 12,060,238 12,049,621 13,653,337 Transfers 301,833 148,372 464,762 463,832 409,163 Total OBJECTIVES 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 - Provide funding for the development of commuter rail service. Voters approved a 3/8-cent sales tax increase that commenced on April 1, 2007. - Accumulate funding for the land acquisition, design, construction and operation of a passenger rail station. Provide funding for 50% of the operations of the Grapevine Visitor Shuttle system. 2020-21 2021-22 2022-23 2022-23 2023-24 PERFORMANCE INDICATORS Actual Actual Budget Estimate Proposed Contractual payments to Trinity Metro $9,305,545 $11,916,694 $12,060,238 $12,049,621 $13,653,337 Transfers to Grapevine Visitor Shuttle system $301,833 $148,372 $464,762 $463,832 $409,163 ECONOMIC DEVELOPMENT - 120 EXPENDITURE DETAIL 4-B Transit 42303 Sales Tax To Be Expe Supplies Subtotal 44688 Intergovt. Expenditu Services Subtotal Change Change from from 2020-21 2021-22 2022-23 2022-23 2023-24 FY22 FY23 Actual Actual Budget Estimate Proposed Actual Budget - 633,793 - -100% - 633,793 - - - -100% 9,305,545 11,916,694 12,060,238 12,049,621 13,653,337 15% 13% 9,305,545 11,916,694 12,060,238 12,049,621 13,653,337 15% 13% 54216 Transfers To Visitor Shuttle 278,852 148,372 464,762 463,832 409,163 176% -12% 54217 Transfer To Econ Dev 22,981 - - - - Transfers 301,833 148,372 464,762 463,832 409,163 176% -12% Total 4-13 Transit 9,607,378 12,698,859 12,525,000 12,513,453 14,062,500 11 % 12% FY 2023-24 PROPOSED OPERATING BUDGET STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE ECONOMIC DEVELOPMENT FUND (122, 124) 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed BEGINNING FUND BALANCE: 12,214,640 12,209,640 13,388,939 13,388,939 13,770776 OPERATING REVENUE: Sales Tax 4,699,128 5,638,320 4,175,000 4,166,650 4,687,500 Interest Income 9,055 83,301 10,000 9,980 10,000 Miscellaneous 457,535 56,883 - - - Total Operating Revenue 5,165,718 5,778,504 4,185,000 4,176,630 4,697,500 TOTAL REVENUE AND TRANSFERS 5,165,718 5,778,504 4,185,000 4,176,630 4,697,500 OPERATING EXPENDITURES: Personnel Services 376,433 504,347 529,366 505,744 457,431 Supplies 19,683 228,818 10,400 10,379 12,900 Maintenance 69,245 15,948 - - - Services 2,615,935 1,916,921 1,848,056 1,597,527 1,862,656 Insurance 73,857 105,156 81,859 740 52,793 Total Operating Expenditures 3,155,153 2,771,190 2,469,681 2,114,390 2,385,780 TRANSFERS OUT: Transfer to General Fund - Admin Fee 262,000 - - - - Transfer to Debt Service Fund 1,400,519 1,398,894 1,401,444 1,398,894 1,398,169 Transfer to General 353,046 429,121 313,875 281,509 351,562 TRANSFERS OUT 2,015,565 1,828,015 1,715,319 1,680,403 1,749,731 i 101 AL EXPENDITURES AND TRANSFERS 5,170,718 4,599,205 4,185,000 3,794,793 4,135,511 SURPLUS / (DEFICIT) (5,000) 1,179,299 381,837 561.989 ENDING FUND BALANCE AVAILABLE: 12,209,640 13,388,939 13,388,939 13,770,776 14,332,765 Section 2 80 ECONOMIC DEVELOPMENT FUNDS (122,124) REVENUE DETAIL 31204 Sales Tax SALES TAX 39230 Interest Income INTEREST INCOME 37100 Garage Revenue 37200 Utility Revenue 39710 Insurance Recoveries 53110 Transfer From 4-B 39999 Miscellaneous Revenue MISCELLANEOUS TOTAL ECONOMIC DEV Change Change from from 2020-21 2021-22 2022-23 2022-23 2023-24 FY22 FY23 Actual Actual Budget Estimate Proposed Actual Budget 4,699,128 5,638,320 4,175,000 4,166,650 4,687,500 -17% 12% 4,699,128 5,638,320 4,175,000 4,166,650 47687,500 -17% 12% 9,055 83,301 10,000 9,980 10,000 -88% 0% 9,055 83,301 10,000 9,980 10,000 -88% 0% 154,290 - - _ - 246,417 56,883 _ - -100% 29,749 - - 22,981 - 5,098 - - _ - 457,535 56,883 - _ - -100% 5,165,718 5,778,504 4,185,000 4,176,630 4,697,500 -19% 12% Section 2 81 FY 2023-24 PROPOSED OPERATING BUDGET 4B ECONOMIC DEVELOPMENT FUNDS DEPARTMENTAL SUMMARY 2020-21 2021-22 2022-23 2022-23 2023-24 EXPENDITURES BY DIVISION Actual Actual Budget Estimate Proposed 4B Capital Improvements and 413 Economic Development 5,170,718 4,599,205 4,185,000 3,794,793 4,135,511 Total 5,170,718 4,599,205 4,185,000 3,794,793 4,135,511 POSITION SUMMARY BY DEPARTMENT PERSONNEL - FULL TIME EQUIVALENTS (FTE) ECONOMIC DEVELOPMENT Director of Economic Development Assistant Director of Economic Development Marketing Research Manager Development Manager Commercial Outreach Manager Administrative Secretary TOTAL FULL-TIME POSITIONS 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed 1.0 1.0 1.0 1.0 1.0 - 1.0 1.0 - - 1.0 1.0 1.0 1.0 1.0 1.0 - - - - - - - 1.0 1.0 0.5 0.5 0.5 0.5 0.5 3.5 3.5 3.5 3.5 3.5 Section 2 82 FY 2023-24 PROPOSED OPERATING BUDGET 4B CAPITAL IMPROVEMENTS AND 4B ECONOMIC DEVELOPMENT SUMMARY FUNDS 122 AND 124 EXPENDITURES BY OBJECT 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed Personnel Services 376,433 504,347 529,366 505,744 457,431 Supplies 19,683 228,818 10,400 10,379 12,900 Maintenance 69,245 15,948 - - - Services 2,615,935 1,916,921 1,848,056 1,597,527 1,862,656 Insurance 73,857 105,156 81,859 740 52,793 Transfers 2,015,565 1,828,015 1,7 15,319 1,680,403 1,749,731 Total 5,170,718 4,599,205 4,185,000 3,794,793 4,135,511 OBJECTIVES - Proactively execute business development strategy and identify quality business prospects - Strategically plan inbound economic development marketing strategy. - Provide excellent customer service for key business stakeholders - Facilitate cross -departmental collaboration to increase the efficiency and impact of City programs PERFORMANCE INDICATORS Marketing & Research: - Retail and transit oriented development study - Complete a market and site context analysis on 185 acre City owned tract - Project map/analysis for City Council - Salesforce contacts - Web visitors - Newsletter subscribers - Social - Net Positive Engagements BRE & New Business Development: - Local business visits - Presentations to Chamber of Commerce and ED partnership meetings - Network and retention events attended - Leads obtained from network and retention events - Trade shows/conferences attended Broker/Multiplier Outreach - Business Retention & Expansion (BRE) - Startup support - Project management - Planning meetings - Small business support 2020-21 2021-22 2022-23 2022-23 2023-24 Actual Actual Budget Estimate Proposed 1 - N/A N/A N/A ] 2 N/A N/A N/A N/A N/A I 1 1 N/A N/A 100 150 150 N/A N/A 2,000 26,942 30,000 N/A N/A 100 174 300 300 300 5,000 6,150 7,000 120 160 N/A 100 125 12 12 N/A 15 15 20 20 N/A 20 25 60 60 N/A 50 75 5 5 10 6 9 30 30 50 50 75 N/A N/A 50 50 75 N/A N/A 20 20 20 N/A N/A 20 20 20 N/A N/A 24 24 24 N/A N/A 20 20 20 Section 2 83 ECONOMIC DEVELOPMENT - 122,124 EXPENDITURE DETAIL Change Change from from 2020-21 2021-22 2022-23 2022-23 2023-24 FY22 FY23 Actual Actual Budget Estimate Proposed Actual Budget ECONOMIC DEVELOPMENT 41100 Salaries -Full Time 300,359 406,247 424,311 406,584 363,968 -10% -14% 41107 Salaries -Overtime 5 - - - - 41190 Wages -Contract Labor 6,864 - 7,000 6,986 - -100% 41223 Mission Square - 5,000 - - - -100% 41236 TMRS Benefits 58,065 78,348 82,212 77,535 75,398 4% -8% 41247 Medicare 4,426 5,998 6,281 5,981 5,450 -9% -13% 41271 Salaries -Longevity 1,876 623 624 623 696 12% 12% 41273 Salaries -Sick Leave Buy Back 2,078 2,961 4,018 3,125 6,999 136% 74% 41275 Car Allowance 2,100 3,850 4,200 4,192 4,200 9% 0% 41276 Phone Allowance 660 1,320 720 719 720 -45% 0% Personnel Subtotal 376,433 504,347 529,366 505,744 457,431 -9% -14% 42200 Operating Supplies 1,815 4,300 5,000 4,990 7,500 74% 50% 42210 Computer Equip And Supply - 2,855 4,000 3,992 4,000 40% 0% 42261 Postage And Related Charges 41 59 100 100 100 69% 0% 42281 Apparatus & Tools 13,912 - - - - 42285 Motor Vehicle Fuel - - 1,300 1,297 1,300 0% 42290 Furniture & Fixtures 4,782 - - - -100% 42303 Sales Tax To Be Expe - 211,264 - - - -100% Supplies Subtotal 19,683 228,818 10,400 10,379 12,900 -94% 24% 43350 Building Maintenance 69,245 15,948 - - - -100% Maintenance 69,245 15,948 - - - -100% 44500 IT License & Maint Fees 83,097 65,510 - - 56,746 -13% 44505 Travel, Training And Dues 11,693 57,821 60,000 51,256 75,975 31% 27% 44525 Utilities 423,607 60,353 - 1,963 - -100% 44535 Financial Service Fees 24,369 13,582 2,000 1,996 2,000 -85% 0% 44540 Professional Service 443,932 127,936 95,908 95,716 38,894 -70% -59% 44560 Marketing & Promotion 38,700 34,052 70,000 69,860 70,000 106% 0% 44565 Advertising Publ & Subscript 2,500 2,575 2,500 2,495 2,500 -3% 0% 44573 Leases And Rentals - 2,271 - - - -100% 44687 Chapter 380 Rebate 1,446,343 1,282,875 1,524,123 1,282,875 1,524,123 19% 0% 44627 Insurance, Fleet & 1T 11,387 - 15,259 13,256 14,152 -7% 44686 Community Distributions 130,307 269,946 78,266 78,109 78,266 -71% 0% Services Subtotal 2,615,935 1,916,921 1,848,056 1,597,527 1,862,656 -3% 1 % 45550 Insurance -General Li 22,835 23,271 - - - -100% 45554 Worker'S Comp. Ins. 9 182 156 148 113 -38% -28% 45664 Health Insurance Claims 40,679 51,676 51,676 148 38,342 -26% -26% 45670 Retiree Insurance Premium - 7,373 7,373 148 7,324 -1% -1% 45671 Retiree Insurance Claims - 11,706 11,706 148 - -100% -100% 45674 Health Insurance Premiums 10,334 10,948 10,948 148 7,014 -36% -36% Insurance Subtotal 73,857 105,156 81,859 740 52,793 -50% -36% 54178 Transfers Out To Streets 262,000 - - - 54 100 Transfers To General Fund 353,046 429,121 313,875 281,509 351,562 -18% 12% 54130 Transfers To Debt Service 1,400,519 1,398,894 1,401,444 1,398,894 1,398,169 0% 0% Transfers 2,015,565 1,828,015 1,715,319 1,680,403 1,749,731 4% 2% Total Economic Development 5,170,718 4,599,205 4,185,000 3,794,793 4,135,511 -10% -1% Less Salaries, Vehicle Maint & 4,367,382 3,349,317 3,259,900 3,006,800 3,273,725 -2% 0% Fuel, Insurance and Admin Fee Section 2 84 Comments/Justification 42200 Operating Supplies 17,500 General office supplies and miscellaneous physical item expenses 44500 IT License & Maint Fees 156,746 Golden Shovel; Placer.ai; Co -Star; GIS Planning; Sizeup; Mailchimp; Envato Elements; Spreaker; EDOiQ; ARC GIS Urban 44505 Travel, Training And Dues 175,9751 ED Director: $25,000 for ICSC (Texas and National) plus Local Conferences; Commercial Outreach Manager: $25,000 for ICSC (Texas and National) plus Local Conferences; ED Manager $10,000 for ICSC (Texas and National) plus Local Conferences; additional $15,000 as Director and COM expand trade show calendar for the year and attend new shows. Commercial Outreach Manager: IEDC $200; TEDC $550; ICSC $125; Leadership Grapevine Alumni $100. 44540 Professional Service 1 38,894 Subscriptions for a variety of services the department uses regularly; Paycom fees $640 44560 Marketing & Promotion 70,000 Items for marketing outreach to address opportunities for new investment in Grapevine; Investment promotion and marketing materials; development of electronic data and information including our website. 44686 Community Distributions 78,266 Payments associated with incentives for Chapter 380 agreements. Section 2 85