HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2014-06RESOLUTION NO. FWLDC-2014-06
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Approving the 2014-2015 Fiscal Year Budget
WHEREAS, the administrative staff of the Foil Worth Local Development Corporation,
a Texas non-profit corporation (the "Corporation"), presented the attached proposed budget for
the 2014-2015 fiscal year of the Corporation (the "Budget") during the Corporation's meeting on
November 11, 2014; 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 I It" day of November, 2014.
By.
S gleton
Secretary
09voe",
fo, oft W Oft�orporatOXId
Budgetget
�Y1q.,15 V)TOPOs
Garcia
G`Jnth�a nor
Pd�`,��Stra r)()A4
�ev`ber
No
M
FY1 3-14 Actual
Proposed:
Proposed:
Other
Blue Mound
Activities/Pro
Proposed
Revenues
Rd.
jects
2013-2014
2013-2014 Actual
Property Tax
Reimbursement
$ 117059.31
$ 0.00
$ 11,059.31
$ 7,868.64
Revenue from
Rents
541, 860.59
0.00
541, 860.59
726, 873.49
Gas Lease
Royalties
200,000.00
5,000.00
205,000.00
234,504.42
Insurance
Proceeds
0.00
0.00
0.00
0.00
Interest Income
0.00
3,000.00
3,000.00
9,319.71
Sale of Property
0.00
0.00
0.00
0.00
Loan Proceeds
0.00
0.00
0.00
2,689,335.55
Total Revenue
$752,919.90
8,000.00
$760,919.90
33667,901.81
2013-2014
Blue Mound
Other
Total
Actual Total
Total Revenue
$752,919.90
8,000.00
$760,919.90
3,667,901.81
Expenditures
Salaries
0.00
26,000.00
$26,000.00
$ 26,000.00
Bank Charges
350.00
0.00
350.00
272.64
Commissions
18,374.60
0.00
18,374.00
26,539.40
Conferences
0.00
5,000.00
5,000.00
805.00
Contractual Services
128,843.00
19,100.00
147,943.60
131,193.16
Insurance
81,900.00
2,100.00
84,000.00
73,872.00
Property Management
21,674.42
0.00
21,674.42
21,482.38
Property Purchase
0.00
0.00
0.00
2,703,385.09
Property Taxes
111,620.00
10,920.00
122,540.00
125,052.36
Repairs and Improvements
80,000.00
50,000.00
130,000.00
77,232.99
Security System
5,280.00
0.00
5,280.00
30,857.43
Storm Water Utility
33,600.00
0.00
33,600.00
38,961.00
Operations
0.00
0.00
0.00
134.00
Utilities
30,000.00
0.00
30,000.00
28,849.15
Loan Payments
0.00
0.00
0.00
173,647.40
Transfers to Lancaster LLC
0.00
0.00
0.00
21,024.83
Total Expenditures
511,642.02
113,120.00
624,762.02
3,479,308.83
Excess of Revenues Over Expenditures
241,277.88
-105,120.00
136,157.88
188,592.98
FY1 4-15 Proposed Budget
Proposed:
Blue Mound
Proposed: Other
Proposed 2013-
Revenues
Rd.
Activities/Projects
2014
Property Tax
Reimbursement
$ 7,868.64
$ 0.00
$ 7,868.64
Revenue from
Rents
562,774.71
0.00
562,774.71
Gas Lease
Royalties
200,000.00
5,000.00
205,000.00
Insurance
Proceeds
0.00
0.00
0.00
Interest Income
0.00
5,000.00
5,000.00
Sale of Property
0.00
0.00
0.00
Loan Proceeds
0.00
0.00
0.00
Total Revenue
$ 770M3.35
$10,000.00
780,643.35
10
2014-2015
Blue Mound
Other
Total
Total Revenue
$ 770,643.35
$10,000.00
780,643.35
Expenditures
Salaries
$ 0.00
211,000.00
$ 211,000.00
Bank Charges
350.00
0.00
350.00
Commissions
26,539.40
0.00
26,539.40
Conferences
0.00
0.00
0.00
Contractual Services
12,000.00
0.00
12,000.00
Insurance
81,900.00
2,100.00
84,000.00
Property Management
22,510.00
0.00
22,510.00
Property Purchase
0.00
0.00
0.00
Property Taxes
111,670.22
12,000.00
123,670.22
Repairs and Improvements
102,510.00
0.00
102,510.00
Security System
5,280.00
0.00
5,280.00
Storm Water Utility
38,961.00
0.00
38,961.00
D&O Insurance
0.00
900.00
900.00
Utilities
28,849.15
0.00
28,849.15
Loan Payments
0.00
0.00
0.00
Transfers to Lancaster LLC
0.00
0.00
0.00
Total Expenditures
430,569.77
226,000.00
656,569.77
Excess of Revenues Over
Expenditures
340,073.58
-216,000.00
124,073.58
U
`J