HomeMy WebLinkAboutRES 4B 2011-01GRAPEVINE 4B ECONOMIC DEVELOPMENT CORPORATION
RESOLUTION NO. 413 2011-01
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,
2011 AND ENDING SEPTEMBER 30,2012; PROVIDING FOR
INVESTMENT OF CERTAIN FUNDS AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the provisions of Article 6190.6, Texas Revised Civil Statutes, the
Industrial Development Act of 1979, Section 413, and the Corporation Bylaws adopted by
the Grapevine 413 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.
NOW, THEREFORE, BE IT RESOLVED BY THE GRAPEVINE 413 ECONOMIC
DEVELOPMENT CORPORATION OF THE CITY OF GRAPEVINE, TEXAS:
Section 1. That a budget proposal has been prepared by the Grapevine 413
Economic Development Corporation Board, a copy of which is attached hereto as Exhibit
"A„
Section 2. That the Grapevine 413 Economic Development Corporation Board
adopts the proposed operating budget for fiscal year ending September 30, 2012.
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 Director
of Administrative Services 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 2012,
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 13th day of September, 2011.
C. S!han3 Wilbani
4B Vice President
ATTEST.
"-2,- - -4�
Linda Huff
City Secretary
APPROVED AS TO FORM:
Matthew Boyle
City Attorney
RES. NO. 4B 2011-01 2
ATTACHMENT "A"
FY 2011-12 APPROVED OPERATING BUDGET
FUNDS 120 & 122 - 4B ECONOMIC DEVELOPMENT
EXHIBIT TO
ao01
-Budget AtA-Glance - 9e ��0
2009-10 2010-11 2010-11 2011-12
REVENUE AND OTHER FINANCING SOURCES: Actual Budget Estimate Proposed
Sales Tax 10,639,489
10,450,000
11,369,114
11,350,000
Interest Income 32,723
75,000
19,773
50,000
Total 10,672,211
10,525,000
11,388,887
11,400,000
2009-10 2010-11 2010-11 2011-12
EXPENDITURES AND OTHER FINANCING USES: Actual Budget Estimate Proposed
Supplies
0
0
0
0
Professional Services
52,057
75,000
4,776
0
Contractual Services
7,165,037
7,128,064
7,200,000
7,372,818
Capital Outlay
24,017
0
0
0
Transfers
571,678
558,237
596,706
571,328
Total
7,812,789
7,761,301
7,801,482
7,944,146