Page 76 - Pantego Adopted Budget FY20

Pantego Economic Development Corporation
Project & Operating Fund Budget for Fiscal Year 2019-2020

2018/2019 YTD 2018/2019
2016/2017 2017/2018 ADOPTED ACTUAL YEAR END 2019/2020
ACTUAL ACTUAL BUDGET 30-Jun-19 ESTIMATE BUDGET
ESTIMATED BEGINNING FUND BALANCE $ 620,850 $ 667,710 $ 824,945 $ 824,945 $ 824,945 $ 1,067,918

REVENUES
Sales Tax Revenue $ 445,497 $ 443,921 450,777 $ 357,227 475,556 468,808
Oil & Gas Revenues $ 548 $ 232 500 367 500 500
Other Revenue 7,000 65,729 76,729 6,382 6,382 5,000
Interest Income 4,790 10,533 9,190 13,457 17,000 19,000
TOTAL REVENUE $ 457,835 $ 520,415 $ 537,196 $ 377,433 $ 499,438 $ 493,308
EXPENDITURES
Professional Fees
Contract Services(Engineering & Legal) $ 2,603 $ 1,968 $ 2,500 $ 566 $ 600 $ 2,500
EDC Consultant 36,000 33,000 - 15,598 19,000 68,050
Total Professional Fees 38,603 34,968 2,500 16,164 19,600 70,550
Marketing and Advertising
Arlington Chamber of Commerce $ - $ - 12,000 $ - 12,000 12,000
Marketing and Advertising 21,847 38,590 67,583 15,012 20,000 68,050
Total Marketing & Advertising $ 21,847 $ 38,590 79,583 $ 15,012 32,000 80,050
Activities
Seasonal Decorations(Tree Lighting) $ 3,321 $ 4,573 8,500 $ 3,075 3,075 8,500
Total Activities $ 3,321 $ 4,573 $ 8,500 $ 3,075 $ 3,075 $ 8,500
Maintenance
Landscaping and Improvements $ 14,423 $ 19,955 20,000 $ 6,980 10,000 20,000
Sprinkler System Maintenance 677 631 750 300 750 750

General Maintenance and Repair 9,397 16,151 14,000 12,285 14,000 14,000
Statue Maintenance 4,000 3,500 5,500 - 5,500 5,500
Total Maintenance $ 28,497 $ 40,237 40,250 $ 19,566 30,250 40,250
Other
Postage Service/Maintenance $ 14 $ - 50 $ 6 10 50
Natural Gas/Electricity $ 7,299 $ 6,875 7,200 3,827 5,000 -
Training/Travel 1,647 500 2,500 - - 3,500
Miscellaneous 277 1,344 1,500 184 200 1,500
Total Other $ 9,237 $ 8,719 11,250 $ 4,017 5,210 5,050
Projects
Economic Development Incentives $ 51,168 $ 28,077 300,000 $ 16,354 - 100,000
Bicentennial Park Project $ 88,006 $ 45,654 35,000 48,298 - -
Engineering - Park Row 100,000
Economic Development Projects 400,000
Total Projects / Economic Incentives 139,174 73,731 335,000 64,652 - 600,000
TOTAL EXPENDITURES 240,679 200,817 477,083 122,486 90,134.53 804,400
TRANSFERS OUT
Transfer to Debt Service Fund (Reserves)
Transfer to General Fund (Admin Fees) $ 58,719 $ 62,432 $ 64,857 $ 48,642 $ 64,857 $ 68,040
Transfer to General Fund (Park Maint) 80,664 84,932 89,473 67,105 89,473 98,775
Transfer to General Fund (CRB) 12,000 12,000 12,000 9,000 12,000 12,000
Total Transfers Out $ 151,383 $ 159,364 166,330 $ 124,747 $ 166,330 178,815
TOTAL EXPENDITURES & TRANSFERS OUT $ 392,062 $ 360,181 $ 643,413 $ 247,233 $ 256,465 $ 983,215

CHANGE IN FUND BALANCE 65,773 160,234 (106,217) 130,200 242,973 (489,907)
ESTIMATED ENDING FUND BALANCE $ 686,624 $ 827,944 $ 718,728 $ 955,145 $ 1,067,918 $ 578,011
audit adjustments (18,913.77) -2999.43