HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2011-16RESOLUTION NO. FWLDC-2011-16
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Approving the 2011-2012 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 2011-2012 fiscal year of the Corporation (the "Budget") during the Corporation's meeting on
October 4, 2011; 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 4th day of October, 2011.
By/
Dennis Shjdgleton<,"
Secretary
Fort Worth Local Development Corporation
Proposed Budget
October 1, 2011 through September 30, 2012
(Unaudited)
Revenues
Property Tax Reimbursement $38,158.45
Revenue from Rents 479,397.89
Gas Lease Royalties 30,000.00
Enhanced CFA from City 830,000.00
Interest Income 12,000.00
Change in Fair Value of Investments 0.00
Other Revenue 0.00
Total Revenue
Expenditures
Bank Charges
$350.00
Commissions
$18,374.00
Contractual Services
622,571.06
Insurance
84,000.00
Property Management
19,175.92
Property Purchase
200,000.00
Property Taxes
122,590.00
Repairs
40,000.00
Security System
5,280.00
Storm Water Utility
32,400.00
Surveys & Appraisals
5,000.00
Transfers to City
26,000.00
Utilities
20,200.00
Total Expenditures
$1,389,556.34
$1,195,940.98
Excess (Deficiency) of Revenues Over (Under) Expenditures $193,615.36