2011_07.19 EDC Agenda PacketNOTICE OF PROJECTS AND PUBLIC HEARING
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
NOTICE IS HEREBY GIVEN that the Kennedale Economic Development Corporation intends to
participate in "Projects," as defined in the Development Corporation Act of 1979, as amended, Texas
Revised Civil Statutes Annotated Article 5190.6, including, brat not limited to, designing, acquiring,
improving, and operating the following:
1) "TownCenter Project," Operations /Management/Marketimg of a "mid- city" downtown district
including but not limited to the commercial, medical, retail, land acquisition and (New Urbanism style,
typically higher density / multi- storied) residential growth of TownCenter Kennedale and its
surrounding area;
2) "Redevelopment Project," The development of new and renovation of existing commercial /residential
and municipal / KEDC projects designed to enhance Kermedale's lifestyle and quality of life;
3) "TownCenter Beautification Project," The further development /beautification/landscapiug /upgrading
of the TownCenter Kennedale area and its adjoining TCK Plaza;
4) "Ails Project," The planning, implementation, and operation of Civic / City Events and establishment
of a City /TCK Public Arts Program;
5) "Sign Project," The construction of a new Kennedale Entranceway Monument Sign at a site TBD;
6) "Parkway Project," The creation & implementation of Kennedale Parkway, Village Creek, and I -20
commercial and residential Urban Renewal / Development/Redevelopmrent / Revitalization / Economic
Incentives / Beautification plans / Kennedale Parkway Landscape Median and actual projects derived
from these plans;
7) "Development Project," The Creation of a Tax Increment Financing District(s) (TIF) and Municipal
Management District (MMD) including Consultation, Planning, Legal, and Engineering Services;
8) `Branding Project," A Kennedale Marketing and Implementation Plan aimed at City Branding and
attracting new Kennedale projects and businesses;
9) "Grant Project," The continuation of the existing Revitalization Grant Program and funding;
10) "Industrial Expansion Project," Industrial expansion and recruitment program, including loans, fee
waivers, incentive payments, driveway and access construction and land leases.
11) "Industrial Recruitment Project," The recruitment of new and retention of existing Kennedale
industrial businesses and developmentlredevelopmrent of industrial park(s); including but not limited to
rail spurs, infrastructure, and office parks, etc;
12) "Transit Project," The attraction and development of DFW Metroplex area commuter transit / light rail
/ mass transportation services, including land acquisition, the development of a Kennedale rail station
and related improvements;
13) "Landbank Project," The purchase / leasing / sale or other means of transfer of real estate land and
properties for the accomplishment of the above designated projects;
Staff Report
To the Members of the EDC4B Board
Date: July 19, 2011
Agenda Item No:
Subject: DISCUSS AND REVIEW MAY 2011 EDC FINANCIALS
& FY2011 -12 PROPOSED BUDGET
Originated by: Sakura Moten- Dedrick
Summary:
Budget /Amendment
N/A
Year -To -Date
• Ad Valorem Tax: No significant change. Collection of Municipal Management District
Assessments. To date, we have still yet to receive payment from Dollar General. However, per
Bob's direction, staff is working on drafting a memo in response to, as well as to satisfy their
corporate office's payment requirements in their letter dated June 8, 2011. We anticipate of
payment of approximately $5K.
• Sales /Beverage Tax: Increase in comparison over this time last year; however, difference in
increase is not actually as large as provided. Last year contained a slight error in how sales tax
was posted for accrual purposes. Last year's sales tax for YTD through May 2011 should have
actually been $153,161. We continue to see an increase in comparison to this same time last
year. Furthermore, this is due to both a gains in the economy, as well as the reallocation of
Majestic Liquor sales given our FY09 /10 audit by Municap Services (see Monthly Graph, 3-
Year Historical Graph, 10 -Year Historical Data). Last week, we were officially notified that
Municap has submitted another request to the controller to correct Majestic collections and
reallocate if necessary. Majestic filed for bankruptcy, and the new owner submitted receipts to
the City of Fort Worth again.
• Investment Earnings: Due to declining interest rates, income continues to be much lower in
comparison over this time last year.
• Miscellaneous Income: No significant change.
• Surplus Sales /Rentals: Increase in comparison over this time last year. Staff continues to
receive income from Cypress Properties in a timely manner. We used to run two months in
arrears.
• Personnel: No significant change.
• Supplies: Decrease in comparison over this time last year.
• Maintenance: No significant change.
• Sundry: Decrease in comparison over this time last year.
• Debt: No significant change.
CRY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
LNCOMESTATEMENT
I5: EDC43 FUND
°EXEMPLIFYING EXCELLENCE"
FY09-00
FY09d0
FY09 -00
FY09d0
FYIO -01
FYIO-II
FYIOdi
FYIO-I I
-. FY1142
CY - PY
INCOMESTATEMENT
BUDGET
AMENDED
YTD MAY
ACTUAL
BUDGET
AMENDED
YID MAY
ESTIMATE
- PROPOSED
CHANGE
OPERATING REVEN UES
567,171
511,788
203.987
692,446
587,149
587,149
358,615
969.542
`.1,298.095
710,945
OPERATING EXPENDITURES
1744,4111
(2,005.540)
(1,224,638)
(1,679,726)
(608,509)
1608.5091
(846,476)
(1,163,559)
(889.465)
(279,456)
OPERATING INCOME /(LOSS)
(177,246)
(1,493,7$2)
(1,020,651)
(987,280)
(21,360)
(21,360)
(487,861)
(194,017)
408,629:
431,490
NONOPERATING REVENUES /(EXPENSES)
INTEREST EARNINGS
20.000
20.000
1.562
11958
4,200
4.200
126
250
200
(3,950)
TRANSFERS
-
-
-
-
-
-
"
(TRANSFER OUT)
(10,000)
(28,000)
-
(26.5✓])
(154,619)
(154,619)
NSA,619)
(154.619)
(153,119)
N ET OPERATING INCOME /(LOSS)
(167,246)
(1,501,752)
(1,019,089)
(1,011,861)
(171,779)
(171,779)
(642,354)
(348,386)
- `'255,761.
426,039
BEGINNING FUND BALANCE
$ 1,595,012
$1,595,012
$1,595,012
$1.595.012
$ 583,151
$ 583,151
$ 583,151
$ 583,151
x$ 234,765
$ 411.372
ENDING FUND BALANCE(EXCLU DING 07H ER FU NO$)
$IA37,766
$ 93,261
$ 575,923
$ $83,151
$ 411,372
$ 411,372
$ (59,203)
$ 234,765
$ 490,526
$
95: EDC4B RESERVE FUND
$ 119,418
$ 119,418
$ 119.561
$ 119,637
$ 120,137
$ 120,137
$ 119,739
$ 119,757
$: 119.997
$ (260)
19: EDC4B CAPRAL BOND FUND
$ -
$ -
$2,007.665
$1,219,351
$ 1.017,184
$1,017,184
$ 643.206
$ 410,695
$ 65.945.
$ (82,583)
ENDING FUND BALANCE (INCLUDING OTHER FUNDS)
$1.557,184
$ 212,676
$2,703,149
$1,982,139
$1,548,693
$1,548.693
$ 703,742
$ 765,217
$ 676,468:
$ (82,843)
°EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OFSERVICES
REVENUE LINE ITEM SUMMARY
15: EOC411 FUND
ACCOUNT
ACCOUNTNAME
FY0940 FY0T -10 FY09 -10
BUDGET AMENDED YTO MAY
FY09.10
ACTUAL
FY1041
BUDGET
FY10 -01
AMENDED
FY10.17
YTDMAY
FY10.11
ESTIMATE
FYII.12 -
PROPOSED;
CY - PY
CHANGE
4001-0000
PROPERTY TAX CURRENT YEAR
- - -
-
-
-
-
-
-
-
4002-00 -00
MMDIAX- CURRENTYLAR
250.
16.690
23,467
23,467
39,242
42,466
42466
18,999
4,200
AD VALOREM TAXES
$ - $ - $ -
$ 16.690
$ 23,467
$ 23,467
$ 39,242
$ 42,466
$ '42466;
$ 18,999
4081-00110 SALESTAX
4082-0000 MIXEDBEVERAGETAX
323,571 306.744 106,691 450.895 324,438 324,438 182,419 362,832 355357- 30,919
"EXEMPLIFYING EXCELLENCE'
SALES /BEVERAGE TAXES
$323,571
5 306,744
$106,691
$450,595 $
324,4
S 424,43
Amapa
4461,WZ
4 000.401 4
m,Tly
4401-0000
INVESTMENT INCOME
20,000
20,000
1,562
1958
4,200
4,200
126
250
250.
(3,950)
INVESTMENT EARNINGS
$ 20.000
$ 20.000
$ 1,562
$ 1,958 $
4,200
$ 4,200
$ 126
$ 250
$ - -2SA $
(3,950)
4409-0000
MLSCELIANEOUS INCOME
-
-
-
21,065
-
-
-
325,000
6000!
676A00
4415-0000
INSURANCE REIMBURSEMENT
MISCELIANEOUS INCOME
$ -
$ -
$ -
$ 21,065 $
-
$ -
$ -
$ 325,000
$ .676,000: $
676,M
48050000
RENTAL FEES - SHOPPING CENTER
243,600
205,044
96,7 8
M,376
235,244
235.244
137,203
235,244
220.272
(14,972)
480640M
RENTAL INSURANCE
568
1.420
4,000
4,000
(249)
4,000
4,000
-
SURPLUSSALES /RENTALS
$243,600
$ 205,044
$ 97,296
$203,796 $
239.244
$ 239,244
$136,954
$ 239,244
'$ 224,272 $
(14,972)
TOTAL REVENUES
$587,171
$ 531,788
$205,549
$694,404 $
591,349
$ 591,349
$358,741
$ 969,792
$.1,298,345. $
706,995
TOTAL REVENUES(EXCIU DING INTEREA/IRANSfERS)
$567,171
$ 511,788
$203,987
$692,446 $
587,149
$ 587,149
$358,615
$969,542
$1,298,095: $
710,945
103.,AD611N CHARGE GENERAL FUND
56.717
51, 179
20.399
66,200
58.715
5&715
35,862
96,954
"129,809:
71,095
"EXEMPLIFYING EXCELLENCE'
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CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDINRE LINE ITEM DETAIL
15: EDC4B FUND
01: ADMINISTRATION
FYII -12
PROPOSED
5101.01.00
SALARIES
FOG DIRECTOR POSITION OMITTED.
5107 -01 -DO
OVERTIME
EDC DIRECTOR POSITION OMITTED.
5115.01 -DO
RETIREMENT
EDC DIRECTOR POSITION OMITTED.
5117.01.00
FICA
EDC DIRECTOR POSITION OMITTED.
-
5118.O1 -00
MEDICAL INSURANCE
EDC DIRECTOR POSITION OMITTED.
5120.01.00
LIFE INSURANCE
EDC DIRECTOR POSITION OMITTED.
5121.01.00
DENTAL INSURANCE
EDC DIRECTOR POSITION OMITTED.
-
5122 -01.00
VISION INSURANCE
EDC DIRECTOR POSITION OMITTED.
5220 -01.00
UNIFORMS
NEW SHIRTS FOR CONVENTIONS /MEETINGS
300
300
5240 -01.00
PRINTED SUPPLIES
PRINTED MAPS OF ENTIRE CITY
2,000
16,544
EDC COPIES /BROCHURES
3,000
CITY MARKETING FLYERS /AERIAL PHOTOS
5,000
CITY PUBLICATION SPLIT 66% EDC/34% CITY)
6,544
5260.01.00
GENERAL OFFICE SUPPLIES
FILES /FOLDERS/ PAPER /PENCILS(REDUCED DUE TO CONTRACTING OUT
250
250
EDC DIRECTOR POSITION
5261.01.00
POSTAGE
FOR MAIL OUTS /MARKETING PACKAGES (REDUCED DUE TO
250
250
CONTRACTING OUT EDC DIRECTOR POSITION
5280.01 -00
MINOR EQUIP /SMALL TOOLS<$5K
ADDITIONAL EQUIPMENT ASSOCIATED WITH
-
PRESENTATIONS /MARKETING (REDUCED DUE TO CONTRACTING OUT
EDC DIRECTOR POSITION
5290.01 -00
EXPENDABLE SUPPLIES
TOWN CENTER GRAND OPENING
1,000
4,000
9/11 MEMORIAL
3
5440.01.00
OFFICE EQUIP SOFTWARE MAINT
REDUCED DUE TO CONTRACTING OUT EDC DIRECTOR POSITION
5501.01 -00
ADVERTISING
PROMOTIONAL ADVERTISING
5
51000
5510.01.00
ASSOC DUES /PUBLICATIONS
TEXAS ECONOMIC DEVELOPMENT COMMISSION
200
2,350
CITY ($450) & EDC ($900 ) KENNEDALE CHAMBER MEMBERSHIP
1,350
DALLAS CHAMBER
800
5512 -01 -00
CONTRACTUAL SERVICES
NO LONGER USE THIS LINE. MERGED INTO SPECIAL SERVICES (5570).
-
5525.01 -00
TRAINING /SEMINARS
EDC TRAINING THROUGH VARIOUS ASSOCIATIONS BY BOARD
1
1,000
5565.01.00
LEGAL SERVICES
BILLABLE HOURS FOR CITY ATTORNEY ON EDC RELATED PROJECTS (I.E.,
10.000
10,000
REINVESTMENT ZONE
5567 -01 -00
AUDIT SERVICES
PATILLO, BROWN & HILL SERVICES FOR INDEPENDENT ANNUAL AUDIT
1,650
1,650
5570.01 -DO
SPECIAL SERVICES
TOWN CENTER CONSULTING FIRM (APPROXIMATELY $3500 PER
45,000
82,286
MONTH)
BRANDING & IMAGING (PLANNING PHASE ONLY, IMPLEMENTATION
12,000
PHASE BUDGETED UNDER CITY MANAGER BUDGET)
PAYMENT OF RENT SUBSIDY FOR RELOCATION OF BOTH ACE
25,000
HARDWARE & SUBWAY PER LEASE (WILL OCCUR ANNUALLY)
DATAPROSE SERVICE FOR STUFFING OF NEWSLETTER ($70 MONTH),
286
SPLIT 66% EDC /34% CITY
5575 -01.00
EQUIPMENT RENTAL
-
8578 -01.00
TRAVEL
TRAVEL RELATED TO OTHER EDC TRAINING /SEMINARS BY STAFF /BOARD
700
700
5585 -01.00
TELEPHONE SERVICES
NO LONGER UTILIZE SERVICE (REDUCED DUE TO CONTRACTING OUT
-
EDC DIRECTOR POSITION
5595.01 -00
ADMIN CHARGE - GENERAL FUND
CHARGE FOR SERVICES PROVIDED BY GENERAL FUND RESOURCES
58.715
58,715
(10% TOTAL REVENUES EXCLUDING INTEREST/TRANSFERS)
5610.01.00
VISUAL GRANT
GRANT ASSISTANCE PROVIDED TO LOCAL BUSINESSES
5701.01 -00
TRANSFER OUT- GENERAL FUND
-
5800.01 -00
LAND
LAND /RIGHT -OF -WAY PURCHASE FOR THE BENEFIT OF EDC (LEROY
75.000
325,000
MOORE)
REIMBURSEMENT FOR SALE OF 1170 EAST KENNEDALE PARKWAY GIVEN
2541000
DIFFERENCE BETWEEN SALE AND PURCHASE PRICE
5813.01 -00
KENNEDALE ENTRANCE SIGN
NEW ENTRANCEWAY SIGNS
45,000
45,000
5820.01 -00
BUILDING IMPROVEMENT
QUIKTRIP GASSTATION FA ADESTONEWORK
15
15,000
5875.01 -00
CONSTRUCTION
-
TOTAL EXPENDITURES $ 568,044
"EXEMPLIFYING EXCELLENCE'
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE REM DETAIL
15: EDC4B FUND
01: ADMINISTRATION
03: DEBT SERVICE
FY11 -12
5620 -01 -03
ISSUANCE COSTS
AGENT FEES TO HANDLE BOND AMORTIZATIONS
5621 -01 -03
PAYING AGENT FEES
FEES RELATED TO THE ACQUISITION OF NEW DEBT (BANK /BOND
ATTORNEY /FINANCIAL ADVISOR). BANK IS PAYING AGENT IN PRIVATE
PLACEMENT AND GENERALLY DOES NOT CHARGE.
5643.01 -03
2007$1.2M TAX BOND- INTEREST
DUE 11 /Ol
37,183
74,365
DUE 05/01
37,183
5644 -01 -03
2007$1.2M TAX BOND- PRINCIPAL
DUE 05 /01
40,000
40,000
5702 -01 -03
TRANSFER OUT -DEBT SERVICE FUND
DUE 11 /01 INTEREST: 2010$2.O1vl CO BOND
39,059
153,119
DUE 05/01 INTEREST: 2010 $2.OM CO BOND
39,059
DUE 05/01 PRINCIPAL: 2010 $2.OM CO BOND
75,000
TOTAL EXPENDITURES $ 267,484
'EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE REM DETAIL
15: EDC4B FUND
02: TOWN SHOPPING CENTER
FY11 -12
PRO PbSEO
5280.02 -00
MINOR EQUIP /SMALL TOOLS< 5K
-
5403.02 -00
BUILDING MAINTENANCE
SWEEPING-CAM (M PER MONTH)
3,600
22,856
LANDSCAPE -CAM ($638 PER MONTH)
7,656
FIRE SPRINKLER -CAM ($150 PER QUARTER)
600
R &M -CAM
51000
LANDSCAPE MATERIALS -CAM
11000
MAINTENANCE -CAM
5,000
ROOFING REPAIR -CAM
-
POWER WASHING -CAM
-
PORTER SERVICE -CAM
-
5501 -02 -00
ADVERTISING
5510.02 -00
ASSOC DUES /PUBLICATIONS
-
5512.02 -00
CONTRACTUAL SERVICES
-
5530 -02 -00
ELECTRIC SERVICES
ELECTRICITY -CAM
4,200
4,200
5545 -02 -00
INSURANCE - PROPERTY
COVERAGE THROUGH TEXAS MUNICIPAL LEAGUE
4,000
4,000
5570 -02 -00
SPECIAL SERVICES
PROPERTY /ASSET MANAGEMENT PER MONTH
6,000
6,000
TOTAL EXPENDITURES $ 37,056
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM DETAIL
15: EDC4B FUND
03: TOWN CENTER REDEVELOPMENT
FYII -12
vunr()seD
5570.03.00
SPECIAL SERVICES
-
5579 -03.00
ARCHITECT /DESIGN SERVICES
-
5580 -03.00
ENGINEERING SERVICES
REMAINING ACTIVITIES
10,000 10,000
5847 -03.00
CONSTRUCTION
RELOCATION OF ACE HARDWARE 3, SUBWAY
80,000 160,000
BUILDING HEALTH INSPECTIONS /ASBESTOS SURVEY
5,000
TEARING DOWN OF BUILDING
25,000
PARKING LOT MODIFICATION
50,000
TOTAL EXPENDITURES $ 170,000
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE /EXPENDTTURE LINE ITEM SUMMARY
19: EDC4B CAPITAL BOND FUND
ACCOUNT
ACCOUNTNAME
FY09 -10
BUDGET
FY09 -10
AMENDED
FY09.1 0
YTD MAY
FY09 -10
ACTUAL
FYIO -Il
BUDGET
FY 10 -II
AMENDED
FYI0 -II
YTD MAY
FYI 0.11
ESTIMATE
FYII -12
PROPOSED
CY- PY
CHANGE
4401 4000
INVESTMENT INCOME
1,030
2,278
500
500
1,168
1,317
-250
(250)
INVESTMENT EARNINGS
$ -
$ -
$ 1,030
$ 2,278
$ 500
$ 500
$ 1,168
$ 1,317
$ `. 250 `.
$ (250)
49130600
TRANSFER IN-CAPITAL BOND FUND
2,006,635
2,006,635
TRANSFERS
$ -
$ -
$2,006,635
$2,006,635
$ -
$ -
$ -
$ -
$ --
$ -
TOTAL REVENUES
$ -
$ -
$2,007,665
$2,008,913
$ 500
$ 500
$ 1,168
$ 1,317
$ 250
$ (250)
19: EDC48 CAPITAL BOND FUND
01: TOWN CENTER
REDEVELOPMENT
FY09 -10
FY09 -10
FY09.10
FY09 -10
FY10.11
FYI 0.11
FY10 -11
1110.11
FYI I -12
CY- PY
ACCOUNT
ACCOUNTNAME
BUDGET
AMENDED
YTD MAY
ACTUAL
BUDGET
AMENDED
YTD MAY
ESTIMATE
PROPOSED
CHANGE
540301-00
BUILDING MAINTENANCE
MAINTENANCE
$ -
$ -
$ -
$ -
$ -
$
$
552501-00
TRAINING /SEMINARS
-
-
-
40
-
-
-
-
5570-0I-00
SPECIAL SERVICES
-
-
-
157,725
-
-
-
15,000
- 240,000.
240,000
5579 -0100
ARCHITECT/DESIGN SERVICES
-
-
-
19,422
-
-
32,502
48,000
':-
-
558001-00
ENGINEERING SERVICES
33.622
28,143
28,143
32,310
35,000
10000
)18,143)
SUNDRY
$ -
$ -
$ -
$ 210,809
$ 28,143
$ 28,143
$ 64,813
$ 98,000
$ '250,000.'.
$ 221,857
580001-00
LAND
-
-
-
6,678
-
-
6,473
6,473
25.000
25,000
5647 -01-00
CONSTRUCTION
512,076
234.524
234,524
566,027
765,500
70.000
)164,524)
CAPITAL
$ -
$ -
$ -
$ 518,754
$ 234,524
$ 234,524
$ 572,500
$ 771,973
$ 95,000
$(139,524)
TOTAL EXPENDITURES
$ -
$ -
$ -
$ 729,562
$ 262,667
$ 262,667
$637,313
$869,973
$ 345,000
$ 82,333
'EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FUND SUMMARY BY CATEGORY
95: EDC4B RESERVE FUND
RESERVE ($112,606 REQUIREMENT) $ 112,606 $ 112,606 $112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $.1112,606
"EXEMPLIFYING EXCELLENCE'
FY09 -10
FY09 -10
FY09 -10
FY09 -10
FYI0 -lI
FY10 -1T
fY10.11
FY70 -11
' FY11.12 -:!:
CY- PY
CATEGORY
BUDGET
AMENDED
YTD MAY
ACTUAL
BUDGET
AMENDED
YTD MAY
ESTIMATE
PROPOSED .I
CHANGE
BEGINNING FUND BALANCE
$
119,418
$ 119,418
$ 119,418
$ 119,418
$ 119,637
$ 119,637
$ 119,637
$ 119,637
$ 119,757
INVESTMENT EARNINGS
1,920
1,920
143
219
500
500
102
120
240':
(260)
TRANSFERS
-
-
-
-
-
-
TOTAL REVENUES
$
1,920
$ 1,920
$ 143
$ 219
$ 500
$ 500
$ 102
$ 120
$ 240
$ (260)
TRANSFERS
-
-
-
-
-
-
-
TOTALEXPENDITURES
$
-
$ -
$ -
$ -
$ -
$ -
$
$ -
$ `I' -;.
$ -
REVENUES OVER EXPENDITURES
$
1,920
$ 1,920
$ 143
$ 219
$ 500
$ 500
$ 102
$ 120
$ '240;
$ (260)
ENDING FUND BALANCE
$
121,338
$ 121,338
$ 119,561
$ 119,637
$ 120,137
$ 120,137
$ 119,739
$ 119,757
$ 119,997.
$ (260)
ADJUSTMENTS
-
-
-
-
-
-
-
-
FUND BALANCE AS % EXP
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
RESERVE ($112,606 REQUIREMENT) $ 112,606 $ 112,606 $112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $ 112,606 $.1112,606
"EXEMPLIFYING EXCELLENCE'
CITY Of KENNEDALE TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE /EXPENDITURE LINE ITEM DETAIL
95: EDC4B RESERVE FUND
FY11 -12
PROMSFD
4401 -00 -00 INVESTMENT INCOME EARNING BASED UPON AVERAGE BALANCE /INTER RATES 240 240
4915 -00 -00 TRANSFER IN -EDCB PER BOND COVENANTS, WE ARE REQUIRED TO ESTABLISH THIS FUND -
AND DEPOSIT INTO IT A SPECIFIC AMOUNT OF RESERVES. THESE
RESERVES ARE TO BE USED SOLELY FOR THE PURPOSE OF RETIRING THE
LAST OF ANY PARITY BONDS AS THEY BECOME DUE OR PAYING OFF
ANY PRINCIPAL /INTEREST WHENDEBT SERVICE FUNDS ARE
INSUFFICIENT.
TOTAL REVENUES $ 240
5715.00.00 TRANSFER OUT•EDCB FUND
TOTAL EXPENDITURES $
"EXEMPLIFYING EXCELLENCE"
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