Page 77 - Pantego Adopted Budget FY21
P. 77
Pantego Economic Development Corporation
Project & Operating Fund Budget for Fiscal Year 2020-2021
2019/2020 YTD 2019/2020
2017/2018 2018/2019 ADOPTED ACTUAL YEAR END 2020/2021
ACTUAL ACTUAL BUDGET 31-Jul-20 ESTIMATE BUDGET
ESTIMATED BEGINNING FUND BALANCE $ 667,710 $ 824,944 $ 960,228 $ 960,228 $ 960,228 $ 695,402
REVENUES
Sales Tax Revenue $ 443,921 $ 475,765 468,808 $ 375,163 452,075 417,118
Oil & Gas Revenues $ 232 $ 469 500 16 16 20
Other Revenue 65,729 10,132 5,000 - - -
Interest Income 10,533 18,259 19,000 8,311 8,650 2,000
TOTAL REVENUE $ 520,415 $ 504,624 $ 493,308 $ 383,490 $ 460,741 $ 419,138
EXPENDITURES
Professional Fees
Auditing Contractual Service 3,000 3,000 3,000
Contract Services (Legal and Consulting) $ 1,968 $ 903 $ 2,500 $ 14,251 $ 20,000 $ 25,000
EDC Coordinator 36,000 20,714 68,050 28,341 38,500 68,050
Total Professional Fees 37,968 21,617 70,550 45,592 61,500 96,050
Marketing and Advertising
Arlington Chamber of Commerce $ - $ 12,000 12,000 $ - 12,000
Marketing and Advertising 38,590 38,384 68,050 36,401 45,000 61,900
Total Marketing & Advertising $ 38,590 $ 50,384 80,050 $ 36,401 57,000 61,900
Activities
Seasonal Decorations(Tree Lighting) $ 4,573 $ 3,075 8,500 $ 12,570 15,000 15,000
Total Activities $ 4,573 $ 3,075 $ 8,500 $ 12,570 $ 15,000 $ 15,000
Maintenance
Landscaping and Improvements $ 19,955 $ 9,958 20,000 $ 11,235 15,000 15,000
Sprinkler System Maintenance 631 300 750 327 350 750
General Maintenance and Repair 16,151 16,558 14,000 12,508 14,000 14,000
Statue Maintenance 3,500 3,872 5,500 9 5,500 4,000
Splash Pad Maintenance 8,000
Volleyball Court Maintenance 2,000
Total Maintenance $ 40,237 $ 30,689 40,250 $ 24,079 34,850 43,750
Other
Postage Service/Maintenance $ - $ 14 50 $ 448 1,000 1,000
Arlington Chamber of Commerce -Membership 12,000
Natural Gas/Electricity $ 6,875 $ 5,296 - 3,729 5,206
Training/Travel 500 - 3,500 826 826 2,500
Bad Debt Expense 11,544 32,918
Miscellaneous 1,344 946 1,500 1,239 1,500 1,500
Total Other $ 8,719 $ 17,800 5,050 $ 6,242 41,450 17,000
Projects
Economic Development Incentives $ 28,077 $ 20,193 100,000 $ 2,120 30,100 50,000
Bicentennial Park Project $ 45,654 $ 59,253 - 35,327 35,327 -
Park Row Engineering 100,000
Park Row Corridor Improvements 385,000
Gift Card Program 30,000
Economic Development Projects (General) 400,000 219,275 271,525
Total Projects / Economic Incentives 73,731 79,447 600,000 256,722 336,952 465,000
TOTAL EXPENDITURES 203,817 203,011 804,400 381,606 546,752.24 698,700
TRANSFERS OUT
Transfer to Debt Service Fund (Reserves)
Transfer to General Fund (Admin Fees) $ 62,432 $ 64,640 $ 68,040 $ 56,700 $ 68,040 $ 100,000
Transfer to General Fund (Park Maint) 84,932 89,689 98,775 82,313 98,775 100,000
Transfer to General Fund (CRB) 12,000 12,000 12,000 10,000 12,000 12,000
Total Transfers Out $ 159,364 $ 166,329 178,815 $ 149,013 $ 178,815 212,000
TOTAL EXPENDITURES & TRANSFERS OUT $ 363,181 $ 369,340 $ 983,215 $ 530,619 $ 725,567 $ 910,700
CHANGE IN FUND BALANCE 157,234 135,284 (489,907) (147,129) (264,826) (491,562)
ESTIMATED ENDING FUND BALANCE $ 824,944 $ 960,228 $ 470,321 $ 813,099 $ 695,402 $ 203,840
Loans Awarded from Projects $ - $ 60,104 $ -
Loan Payments Received $ 16,038 $ 12,836 $ 10,763
