Page 89 - Pantego FY23 Budget

Pantego Economic Development Corporation
Project & Operating Fund Budget for Fiscal Year 2022-2023
2021-2022 YTD 2021-2022
2019-2020 2020-2021 ADOPTED ACTUAL YEAR END 2022-2023
ACTUAL ACTUAL BUDGET 31-May-22 ESTIMATE BUDGET

ESTIMATED BEGINNING FUND BALANCE $ 960,229 $ 771,052 $ 772,683 $ 772,683 $ 772,683 $ 880,742
REVENUES
Sales Tax Revenue $ 457,186 $ 494,952 680,160 $ 494,127 752,248 752,386
Oil & Gas Revenues $ 16 $ 435 500 492 650 750
Other Revenue - - 4,000 4,000
Interest Income 8,575 1,530 1,350 3,869 6,400 9,500
TOTAL REVENUE $ 465,777 $ 496,917 $ 682,010 $ 502,488 $ 763,298 $ 762,636
EXPENDITURES
Professional Fees
Auditing Contractual Service $ 3,000 $ 3,000 3,000 3,000 3,000 3,000
Contract Services (Legal and Consulting) $ 21,777 $ 39,809 $ 10,000 $ 14,206 $ 45,000 $ 45,000
EDC Coordinator - Moved to Transfer to GF 43,635 63,892 - - -
Total Professional Fees 68,412 106,701 13,000 17,206 $ 48,000 $ 48,000
Marketing and Advertising
Arlington Chamber of Commerce $ 12,000 $ 12,000
Marketing and Advertising 44,740 57,431 68,016 59,567 80,180 75,238
Total Marketing & Advertising $ 56,740 $ 69,431 68,016 $ 59,567 80,180 75,238
Activities
Seasonal Decorations(Tree Lighting) $ 12,570 $ 9,422 15,000 $ 7,663 9,372 15,000
Total Activities $ 12,570 $ 9,422 $ 15,000 $ 7,663 $ 9,372 $ 15,000
Park Maintenance
Landscaping and Improvements $ 14,707 $ 9,859 15,000 $ 5,329 10,000 12,000
Sprinkler System Maintenance 374 130 750 20 100 500
General Maintenance and Repair 16,495 10,377 30,000 11,462 11,200 30,000
Statue Maintenance 9 4,000 4,000 - 4,000 4,000
Splash Pad Maintenance 2,843 28,000 2,080 8,000 28,000
Volleyball Court Maintenance 2,000 2,050 2,000 2,000
Total Maintenance $ 31,585 $ 27,209 79,750 $ 20,941 35,300 76,500
Other
Postage Service/Maintenance $ 905 $ 1,078 500 $ 12 1,300 1,650
Arlington Chamber of Commerce -Membership 12,000 - 12,000 12,000
Natural Gas/Electricity $ 5,212 $ 5,420 5,000 4,357 5,061 5,250
Training/Travel 826 1,075 2,500 - 1,500 1,500
Miscellaneous 1,606 2,132 1,500 912 1,250 1,500
Total Other $ 8,549 $ 9,705 21,500 $ 5,281 21,111 21,900
Projects
Economic Development Incentives $ 3,581 $ 25,538 80,000 $ 68,029 70,000 80,000
Bicentennial Park Project $ 35,327 $ - 85,000 9,555 50,000 95,000
Pantego Arch Lighting $ 13,560 $ - ‐
303 Corridor 50,000
Marquee Signage 40,000
Park Row Corridor Improvements & Promotion 14,165 385,000 - 80,000 380,000
Gift Card Program 30,000 21,115
Economic Development Projects (General) 215,815 - -
Total Projects / Economic Incentives 298,283 60,818 550,000 77,584 200,000 645,000
TOTAL EXPENDITURES 476,139 283,286 747,266 188,242 393,963 881,638
TRANSFERS OUT
Transfer to Debt Service Fund (Reserves)
Transfer to General Fund (Admin Fees) $ 68,040 $ 100,000 $ 99,348 $ 66,232 $ 99,348 $ 118,854
Transfer to General Fund (Park Maint) 98,775 100,000 89,928 59,952 89,928 119,755
Transfer to GF EDC Coordinator 60,000 40,000 60,000 64,991
Transfer to General Fund (CRB) 12,000 12,000 12,000 8,000 12,000 15,000
Total Transfers Out $ 178,815 $ 212,000 261,276 $ 174,184 $ 261,276 318,600
TOTAL EXPENDITURES & TRANSFERS OUT $ 654,954 $ 495,286 $ 1,008,542 $ 362,426 $ 655,239 $ 1,200,238

CHANGE IN FUND BALANCE (189,177) 1,631 (326,532) 140,063 108,059 (437,602)
ESTIMATED ENDING FUND BALANCE $ 771,052 $ 772,683 $ 446,151 $ 912,745 $ 880,742 $ 443,140

ADOPTED BUDGET FY2022-23 TOWNOFPANTEGO.COM/BUDGET PAGE 85