HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-07-2018RESOLUTION NO. FWLDC-07-2018
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Approving the 2019 Fiscal Year Budget
WHEREAS, the administrative staff of the Fort Worth Local Development Corporation, a Texas
non-profit corporation (the "Corporation"), presented the attached proposed budget for the 2019
fiscal year of the Corporation (the "Budget") during the Corporation's meeting on September 25,
2018; and
WHEREAS, members of the Board of Trustees were permitted to ask questions and to request
clarifications of the staff with respect to the Budget;
NOW, THEREFORE, BE IT RESOLVED that, the administrative staff s Budget presentation
having been completed and all questions and clarifications requested by members of the Board of
Trustees having been answered, the Budget is hereby adopted for all purposes;
FURTHER RESOLVED, that the Secretary or any Assistant Secretary of the Corporation is
hereby authorized and directed to certify the adoption of this Resolution.
Adopted this 25th day of September, 2018.
a
Secretary u
RESOLUTION NO. FWLDC-07-2018
PAGE
FWLDC Budget
PROPOSED FY19
BUDGET
Beginning Year Cash Balance
$855,583
Property Tax Reimbursement
$135,781
Revenue from Rents
$1,386,583
Gas Lease Royalties
$72,000
Subtotal
$1,594,364
250 Lancaster Operating Transfer
$350,000
Interest Income
$1,606,364
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$100,000
Bank Charges
$248
Commissions
$29,383
Contractual Services
$21,159
Insurance
$92,799
Loan Payments
$416,748
Operations, Utilities, Storm Water Utility
$22,940
Property Management
$37,103
Property Taxes
$151,541
Repairs
$1,410,000
Transfer to City (Salaries) j
$208,000
Net Surplus/Deficiency (Revenue -Expenses) $1,060,807
Projected Ending Cash Balance $1,916,391