Page 261 - FY 24 Budget Forecast at Adoption.xlsx

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 May 9, 2023. 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
June 20, 2023.

REVENUE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)

City Sales Taxes $ 4,555,185 $ 4,218,050 $ 4,588,207 $ 4,690,828 $ 472,778
Rental Property Revenue 16,000 16,000 16,000 16,000 –

Premium On Debt Issuance – – – – –
Debt Issuance-Refunding Bonds – – – – –
Grant-Local – – – – –

Interest Revenue-Investments 16,805 15,000 113,218 50,614 35,614
Gain/Loss On Disp Of Assets – – 38,000 – –

TOTAL $ 4,587,990 $ 4,249,050 $ 4,755,425 $ 4,757,442 $ 508,392

EXPENDITURE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
EXPENDITURES BY DIVISION: Actual Budget YE Proj. Budget Variance ($)
All Programs $ 80,541 $ 430,465 $ 405,370 $ 187,916 $ (242,549)

Capital Improvements 1,582,859 1,589,044 1,589,044 2,807,265 1,218,221

Non-Departmental 1,987,500 4,686,483 4,686,483 1,800,000 (2,886,483)
TOTAL $ 3,650,900 $ 6,705,992 $ 6,680,897 $ 4,795,181 $ (1,910,811)

EXPENDITURES BY CATEGORY:
Personnel services $ – $ – $ – $ – $ –

Operations & maintenance 21,601 125,000 125,000 125,000 –

Services & other 58,940 47,149 47,149 49,916 2,767

Debt service 1,582,859 1,589,044 1,589,044 2,807,265 1,218,221

Transfers to other funds 1,987,500 4,686,483 4,686,483 1,800,000 (2,886,483)
Capital outlay – 258,316 233,221 13,000 (245,316)

TOTAL $ 3,650,900 $ 6,705,992 $ 6,680,897 $ 4,795,181 $ (1,910,811)

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