Page 275 - Keller Budget FY21

KELLER DEVELOPMENT CORPORATION FUND

FUND DESCRIPTION:
The Keller Development Corporation (KDC) Fund accounts for proceeds of the ½ cent local sales tax for park and recreation
improvements. The KDC budget was approved by the KDC Board of Directors on June 9, 2020. State law requires a public
hearing for development corporations at least 60 days prior to the expenditure of funds. The public hearing was conducted on
July 21, 2020.

REVENUE SUMMARY

FY 2020-21
FY 2018-19 FY 2019-20 FY 2019-20 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)
City Sales Taxes $ 3,195,109 $ 3,244,137 $ 3,244,137 $ 3,244,137 $ –
Rental Property Revenue 16,000 16,000 16,000 16,000 –
Interest Revenue-Investments 58,413 39,094 46,656 46,055 6,961
TOTAL $ 3,269,522 $ 3,299,231 $ 3,306,793 $ 3,306,192 $ 6,961

EXPENDITURE SUMMARY

FY 2020-21
FY 2018-19 FY 2019-20 FY 2019-20 Adopted Budget
EXPENDITURES BY DIVISION: Actual Budget YE Proj. Budget Variance ($)
All Programs $ 75,221 $ 254,036 $ 254,036 $ 68,790 $ (185,246)
Non-Departmental 4,649,537 2,298,869 2,298,869 3,098,944 800,075

TOTAL $ 4,724,757 $ 2,552,905 $ 2,552,905 $ 3,167,734 $ 614,829

EXPENDITURES BY CATEGORY:
Personnel services $ – $ – $ – $ – $ –
Operations & maintenance 23,857 25,000 25,000 25,000 –
Services & other 50,614 48,036 48,036 43,790 (4,246)
Debt service 1,587,684 1,583,869 1,583,869 1,583,944 75
Transfers to other funds 3,062,603 715,000 715,000 1,515,000 800,000
Capital outlay – 181,000 181,000 – (181,000)

TOTAL $ 4,724,757 $ 2,552,905 $ 2,552,905 $ 3,167,734 $ 614,829

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