Page 94 - PantegoFY24AdoptedBudget

Pantego Economic Development Corporation
Project & Operating Fund Budget for Fiscal Year 2023-2024
2022-2023 YTD 2022-2023
2020-2021 2021-2022 ADOPTED ACTUAL YEAR END 2023-2024
ACTUAL ACTUAL BUDGET 7/31/23 ESTIMATE BUDGET

ESTIMATED BEGINNING FUND BALANCE $ 771,052 $ 772,683 $ 964,053 $ 964,053 $ 964,053 $ 2,233,068
REVENUES
Sales Tax Revenue $ 494,952 $ 750,992 752,386 $ 651,062 780,000 727,553
Oil & Gas Revenues $ 435 $ 779 750 381 450 500
Other Revenue - 4,000 - 4,522 4,522 4,500
Interest Income 1,530 8,613 9,500 32,112 40,000 42,500
Bond Sale Revenue 1,200,000
TOTAL REVENUE $ 496,917 $ 764,384 $ 762,636 $ 688,078 $ 2,024,972 $ 775,053
EXPENDITURES
Professional Fees
Auditing Contractual Service $ 3,000 $ 3,000 3,000 1,500 1,500 1,500
Contract Services (Legal and Consulting) $ 39,809 $ 35,807 $ 45,000 $ 46,441 $ 55,750 $ 5,000
EDC Coordinator - Moved to Transfer to GF 63,892 - - - ‐ -
Total Professional Fees 106,701 38,807 48,000 47,941 $ 57,250 $ 6,500
Marketing and Advertising
Arlington Chamber of Commerce $ 12,000
Marketing and Advertising 57,431 56,040 75,238 18,751 25,000 72,755
Total Marketing & Advertising $ 69,431 $ 56,040 75,238 $ 18,751 25,000 72,755
Activities
Seasonal Decorations(Tree Lighting) $ 9,422 $ 13,857 15,000 $ 14,307 14,307 15,000
Total Activities $ 9,422 $ 13,857 $ 15,000 $ 14,307 $ 14,307 $ 15,000
Park Maintenance
Landscaping and Improvements $ 9,859 $ 12,011 12,000 $ 7,487 9,775 9,000
Sprinkler System Maintenance 130 205 500 - 150 500
General Maintenance and Repair 10,377 23,271 30,000 14,817 20,000 43,500
Statue Maintenance 4,000 6,500 4,000 - 6,500 6,000
Splash Pad Maintenance 2,843 12,560 28,000 5,044 28,000 20,000
Volleyball Court Maintenance 2,050 2,000 - 2,000 2,500
Total Maintenance $ 27,209 $ 56,597 76,500 $ 27,347 66,425 81,500
Other
Postage Service/Maintenance $ 1,078 $ 42 1,650 $ 35 75 500
Arlington Chamber of Commerce -Membership $ 12,000 12,000 - 12,000 12,000
Natural Gas/Electricity $ 5,420 $ 6,689 5,250 4,735 5,800 6,000
Training/Travel 1,075 - 1,500 - - 1,500
Miscellaneous 2,132 1,584 1,500 3,154 4,000 4,000
Total Other $ 9,705 $ 20,315 21,900 $ 7,924 21,875 24,000
Projects
Economic Development Incentives $ 25,538 $ 69,041 80,000 $ - 25,000 50,000
Bicentennial Park Project $ - $ 9,555 95,000 30,288 60,000 ‐
Bicentennial Park Bond Project 1,079,025
303 Corridor $ - 50,000 75,579 77,500 50,000
Marquee Signage $ - 40,000 172,500
Park Row Corridor Improvements & Promotion 14,165 47,525 380,000 86,704 90,000 380,000
Total Projects / Economic Incentives 60,818 126,121 645,000 192,571 252,500 1,731,525
TOTAL EXPENDITURES 283,286 311,738 881,638 308,842 437,357 1,931,280

TRANSFERS OUT
Transfer to Debt Service Fund (Reserves)
Transfer to General Fund (Admin Fees) $ 100,000 $ 96,830 $ 118,854 $ 79,236 $ 118,854 $ 158,064
Transfer to General Fund (Park Maint) 100,000 92,446 119,755 79,837 119,755 135,485
Transfer to GF EDC Coordinator 60,000 64,991 43,327 64,991 64,828
Transfer to General Fund (CRB) 12,000 12,000 15,000 10,000 15,000 17,250
Total Transfers Out $ 212,000 $ 261,276 318,600 $ 212,400 $ 318,600 375,627
TOTAL EXPENDITURES & TRANSFERS OUT $ 495,286 $ 573,014 $ 1,200,238 $ 521,242 $ 755,957 $ 2,306,907

CHANGE IN FUND BALANCE 1,631 191,370 (437,602) 166,836 1,269,015 (1,531,854)
ESTIMATED ENDING FUND BALANCE $ 772,683 $ 964,053 $ 526,451 $ 1,130,889 $ 2,233,068 $ 701,214

ADOPTED BUDGET FY2023-24 TOWNOFPANTEGO.COM/BUDGET PAGE 86