Page 206 - GrapevineFY24 Adopted Budget

FY 2023-24 APPROVED OPERATING BUDGET
4B ECONOMIC DEVELOPMENT SUMMARY
ADMINISTRATION DIVISION
124-124-001

2020-21 2021-22 2022-23 2022-23 2023-24
EXPENDITURES BY OBJECT Actual Actual Budget Estimate Approved

Personnel 376,432 504,347 529,366 384,878 457,431
Supplies 19,683 228,818 10,400 1,486 12,900
Maintenance 69,245 15,948 - - -
Services 2,615,935 1,916,921 1,848,056 2,566,045 1,862,656
Insurance 73,857 105,156 81,859 75,326 52,793
Transfers 2,015,565 1,828,015 1,715,319 1,836,939 1,749,731
Total 5,170,717 4,599,205 4,185,000 4,864,674 4,135,511

OBJECTIVES

- Proactively execute business development strategy and identify quality business prospects
- Strategically plan inbound economic development marketing strategy.
- Provide excellent customer service for key business stakeholders
- Facilitate cross-departmental collaboration to increase the efficiency and impact of City programs

2020-21 2021-22 2022-23 2022-23 2023-24
PERFORMANCE INDICATORS Actual Actual Budget Estimate Approved

Marketing & Research:
Retail and transit oriented development study 1 N/A N/A N/A N/A
Complete a market and site context analysis on 185 acre
City owned tract 1 2 N/A N/A N/A
Project map/analysis for City Council N/A N/A 1 1 1

Salesforce contacts N/A N/A 100 150 150
Web visitors N/A N/A 2,000 26,942 30,000
Newsletter subscribers N/A N/A 100 174 300
Social - Net Positive Engagements 300 300 5,000 6,150 7,000
BRE & New Business Development:
Local business visits 120 160 N/A 100 125

Presentations to Chamber of Commerce and ED

partnership meetings 12 12 N/A 15 15

Network and retention events attended 20 20 N/A 20 25
Leads obtained from network and retention events 60 60 N/A 50 75

Trade shows/conferences attended 5 5 10 6 9
Broker/Multiplier Outreach 30 30 50 50 75

Business Retention & Expansion (BRE) N/A N/A 50 50 75
Startup support N/A N/A 20 20 20

Project management N/A N/A 20 20 20

Planning meetings N/A N/A 24 24 24

Small business support N/A N/A 20 20 20

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