Page 97 - Pantego FY22 Operating Budget

Pantego Economic Development Corporation
Project & Operating Fund Budget for Fiscal Year 2021-2022
2020-2021 YTD 2020-2021
2018-2019 2019-2020 ADOPTED ACTUAL YEAR END 2021-2022
ACTUAL ACTUAL BUDGET 30-Jun-21 ESTIMATE BUDGET

ESTIMATED BEGINNING FUND BALANCE $ 824,945 $ 960,229 $ 765,700 $ 765,700 $ 765,700 $ 761,627
REVENUES
Sales Tax Revenue $ 475,765 $ 457,186 417,118 $ 361,900 480,790 680,160
Oil & Gas Revenues $ 469 $ 16 20 435 500 500
Other Revenue 10,132 - - -
Interest Income 18,259 8,575 2,000 1,141 1,525 1,350
TOTAL REVENUE $ 504,624 $ 465,777 $ 419,138 $ 363,476 $ 482,815 $ 682,010
EXPENDITURES
Professional Fees
Auditing Contractual Service $ 3,000 3,000 3,000 3,000 3,000
Contract Services (Legal and Consulting) $ 903 $ 21,777 $ 25,000 $ 38,444 $ 51,250 $ 10,000
EDC Coordinator - Moved to Transfer to GF 20,714 43,635 68,050 42,878 60,000 -
Total Professional Fees 21,617 68,412 96,050 84,322 $ 114,250 $ 13,000
Marketing and Advertising
Arlington Chamber of Commerce $ 12,000 $ 12,000 $ -
Marketing and Advertising 38,384 49,889 61,900 27,979 37,305 68,016
Total Marketing & Advertising $ 50,384 $ 61,889 61,900 $ 27,979 37,305 68,016
Activities
Seasonal Decorations(Tree Lighting) $ 3,075 $ 12,570 15,000 $ 9,372 9,372 15,000
Total Activities $ 3,075 $ 12,570 $ 15,000 $ 9,372 $ 9,372 $ 15,000
Maintenance
Landscaping and Improvements $ 9,958 $ 14,707 15,000 $ 5,656 7,550 15,000
Sprinkler System Maintenance 300 374 750 15 100 750
General Maintenance and Repair 16,558 16,495 14,000 8,382 11,200 30,000
Statue Maintenance 3,872 9 4,000 - 4,000 4,000
Splash Pad Maintenance 8,000 2,195 8,000 28,000
Volleyball Court Maintenance 2,000 - 2,000 2,000
Total Maintenance $ 30,689 $ 31,585 43,750 $ 16,247 32,850 79,750
Other
Postage Service/Maintenance $ 14 $ 905 1,000 $ 1,125 1,300 500
Arlington Chamber of Commerce -Membership 12,000 - 12,000 12,000
Natural Gas/Electricity $ 5,296 $ 5,415 - 3,796 5,061 5,000
Training/Travel - 826 2,500 900 1,500 2,500
Bad Debt Expense 11,544 - - - -
Miscellaneous 946 1,606 1,500 938 1,250 1,500
Total Other $ 17,800 $ 8,752 17,000 $ 6,758 21,111 21,500
Projects
Economic Development Incentives $ 20,193 $ 3,581 50,000 $ 13,824 30,000 80,000
Bicentennial Park Project $ 59,253 $ 35,327 ‐ - 85,000
Pantego Arch Lighting $ 13,560
Park Row Engineering
Park Row Corridor Improvements 385,000 - ‐ 385,000
Gift Card Program 30,000 30,000 20,785 30,000
Economic Development Projects (General) 215,815 - -
Total Projects / Economic Incentives 79,447 298,283 465,000 34,609 60,000 550,000
TOTAL EXPENDITURES 203,011 481,490 698,700 179,287 274,887.84 747,266

TRANSFERS OUT
Transfer to Debt Service Fund (Reserves)
Transfer to General Fund (Admin Fees) $ 64,640 $ 68,040 $ 100,000 $ 75,000 $ 100,000 $ 99,348
Transfer to General Fund (Park Maint) 89,689 98,775 100,000 75,000 100,000 89,928
Transfer to GF EDC Coordinator 60,000
Transfer to General Fund (CRB) 12,000 12,000 12,000 9,000 12,000 12,000
Total Transfers Out $ 166,329 $ 178,815 212,000 $ 159,000 $ 212,000 261,276
TOTAL EXPENDITURES & TRANSFERS OUT $ 369,340 $ 660,305 $ 910,700 $ 338,287 $ 486,888 $ 1,008,542

CHANGE IN FUND BALANCE 135,284 (194,528) (491,562) 25,188 (4,073) (326,532)
ESTIMATED ENDING FUND BALANCE $ 960,229 $ 765,700 $ 274,138 $ 790,888 $ 761,627 $ 435,095
Loans Awarded from Projects Bal Fwd. 17,392.44 $ 60,104 $ - $ 9,644
Loan Payments Received $ 12,061 $ 12,016 $ 6,200
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