Page 259 - CityofKellerFY25Budget
P. 259

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 June 11, 2024. 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
                July 16, 2024



                                                             REVENUE SUMMARY



                                                                                                              FY 2024-25
                                                             FY 2022-23       FY 2023-24      FY 2023-24       Adopted          Budget
                REVENUES                                       Actual           Budget         YE Proj.         Budget       Variance ($)
                 City Sales Taxes                          $       4,717,834  $     4,690,828  $      4,690,828  $     4,690,828  $     –



                 Rental Property Revenue                             16,000          16,000        27,000           31,000         15,000
                 Premium On Debt Issuance                               –               –               –                 –             –

                 Debt Issuance-Refunding Bonds                          –               –               –                 –             –


                 Grant-Local                                            –               –               –               –               –


                 Interest Revenue-Investments                       172,261          50,614            197,655       197,655            147,041
                 Gain/Loss On Disp Of Assets                         46,500             –               –                 –             –
                 TOTAL                                     $       4,952,595  $     4,757,442  $    4,915,483  $     4,919,483  $      162,041




                                                         EXPENDITURE SUMMARY


                                                                                                              FY 2024-25
                                                             FY 2022-23       FY 2023-24      FY 2023-24       Adopted          Budget
                EXPENDITURES BY DIVISION:                      Actual           Budget         YE Proj.         Budget       Variance ($)

                 All Programs                              $         436,748  $      187,916  $     177,616  $       209,045  $       21,129

                 Capital Improvements                                 1,589,794          2,807,265         2,596,879           2,593,519           (213,746)
                 Non-Departmental                                     4,686,483          3,420,616           3,420,616           2,120,616        (1,300,000)

                 TOTAL                                     $       6,713,024  $     6,415,797  $      6,195,111  $     4,923,180  $    (1,492,617)









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

                 Operations & maintenance                           132,283             125,000            118,000    125,000           –




                 Services & other                                    47,149          49,916        49,916           48,045          (1,871)

                 Debt service                                         1,589,794          2,807,265         2,596,879           2,593,519           (213,746)

                 Transfers to other funds                             4,686,483          3,420,616         3,420,616           2,120,616        (1,300,000)

                 Capital outlay                                     257,316          13,000            9,700        36,000           23,000
                 TOTAL                                     $       6,713,024  $     6,415,797  $    6,195,111  $     4,923,180  $    (1,492,617)

















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