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05.22.2012 EDC PacketECONOMIC DEVELOPMENT CORPORATION AGENDA BOARD OF DIRECTORS - REGULAR MEETING May 22, 2012 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE REGULAR SESSION - 7:15 PM I. CALL TO ORDER II. ROLL CALL III. MINUTES APPROVAL A. Consider approval of minutes from regular meeting dated April 24, 2012. IV. REGULAR ITEMS A. Review KEDC Financial Report. V. STAFF ANNOUNCEMENTS/REPORTS A. Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Chamber of Commerce update 2. Hotel development 3. TownCenter Status 4. Land activity 5. Red Roadhouse Restaurant 6. QuickTrip update 7. Road project update VI. ADJOURNMENT In compliance with the Americans with Disabilities Act, the City of Kennedale will provide for reasonable accommodations for persons attending City Council meetings. This building is wheelchair accessible, and parking spaces for disabled citizens are available. Requests for sign interpreter services must be made forty-eight (48) hours prior to the meetings. Please contact Amethyst Cirmo, City Secretary, at 817.985.2104 or (TDD) 1.800.735.2989 CERTIFICATION I certify that a copy of the May 22, 2012, Kennedale Economic Development Corporation agenda was posted on the City Hall bulletin board next to the main entrance of the City Hall building, 405 Municipal Drive, of the City of Kennedale, Texas, in a place convenient and readily accessible to the general public at all times and said agenda was posted at least 72 hours preceding the schedule time of said meeting, in accordance with Chapter 551 of the Texas Government Code. ￿Amethyst G. Cirmo, City Secretary Staff Report to the Board of Directors Date: May 22, 2012 Agenda Item No: MINUTES APPROVAL - A. I. Subject: Consider approval of minutes from regular meeting dated April 24, 2012. II. Originated by: Amethyst G. Cirmo, City Secretary and Communications Coordinator III. Summary: Please see the attached minutes. IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.Minutes 04.24.2012 EDC Minutes SAVED.doc ECONOMIC DEVELOPMENT CORPORATION MINUTES BOARD OF DIRECTORS - REGULAR MEETING April 24, 2012 CITY HALL COUNCIL CHAMBERS, 405 MUNICIPAL DRIVE I. CALL TO ORDER President Mundy called the meeting to order at 7:25 PM. II. ROLL CALL Roll Call Present Pat Turner, Beverly Hayes, Robert Mundy, Donnie Graham, Mark Yeary, Rebecca Mowell Absent/Excused Darrell Erwin III. MINUTES APPROVAL A. Consider approval of regular meeting minutes from March 27, 2012. President Mundy noted that the following changes had been made: 1.A change to the title from ‘agenda’ to ‘minutes’ 2.A space between the words ‘executive’ and ‘session’ on page 2 3.A change from the time of entry into executive session from 8:00 PM to 7:00 PM Motion To approve the minutes as amended. , Action Approve, Moved By Rebecca Mowell, Seconded By Beverly Hayes Motion Passed Unanimously IV. REGULAR ITEMS A. Discuss and consider action for approval of Independent Auditor's Report for year ended September 30, 2011. Sakura Moten-Dedrick introduced auditor Greg Shropshire from Pattillo, Brown, and Hill. Mr. Shropshire presented the results of the recent audit, which he also provided to the corporation. Motion To approve the September 30, 2011 annual financial report as presented. , Action Approve, Moved By Beverly Hayes, Seconded By Donnie Graham Motion Passed Unanimously B. Review KEDC Financial Report. Sakura Moten-Dedrick noted that no significant changes had been made since the last report. Motion To approve the report as presented. , Action Approve, Moved By Pat Turner, Seconded By Rebecca Mowell Motion Passed Unanimously C. Tax Increment Financing presentation. Bob Hart introduced L.D. Thomas and Ryan Rust from the University of Texas at Arlington presented a draft report on the potential Tax Increment Financing District in the New Hope Road area. V. STAFF ANNOUNCEMENTS/REPORTS A. Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. Bob Hart noted that the current director, Greg Hudson, will be leaving the chamber for a new position at the end of April. 1. QuikTrip update - Mr. Hart noted that land is currently being leveled and construction is well underway. 2. City Council Governance Workshop - Mr. Hart noted that the Council attended the annual workshop on April 20 th and 21 st to discuss budget and strategies for the next year. The city’s focus will remain on positive development and enhancement over the next year. 3. Street project update - Mr. Hart noted that construction on Sublett and Little Road are almost complete. 4. May 5th: Cleanup with the Keep Kennedale Beautiful Commission, International Migratory Bird Day activities, and Citywide cleanup at the C&D Landfill - Mr. Hart mentioned each of the events and encouraged the board to participate if they were available. 5. May 19th: Bark in the Park/Kidfish/National Kids to Parks Day - Mr. Hart noted that these events were going to be held at Sonora Park throughout the day. 6. Red's Roadhouse Restaurant - The restaurant will be opening for a concert on May 31 st . A portion of the proceeds from this concert will go toward the city’s emergency relief fund. The Corporation suspended the regular session and entered executive session at 8:48 PM. VI. EXECUTIVE SESSION A. The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of the Texas Government Code to deliberate the purchase, sale, exchange, lease, or value of real property. 1. Sale of property at 1000 E Kennedale Parkway to Speed FabCrete 2. Purchase of property at 5428 Kennedale Parkway 3. Consider a partnership for hotel development 4. Discuss partner recruitment for Bloxom Park development B. The Economic Development Corporation will meet in closed session pursuant to Section 551.087 of the Texas Government Code to deliberate the offer of a financial or other incentive to a business project with which the city is conducting economic development negotiations. 1. Review Texas Leverage Fund loan use request by Ross Karbosi 2. Discuss incentives for the Fowler Group VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO EXECUTIVE SESSION, IF NEEDED The Corporation reconvened into regular session at 9:35 PM. No action pursuant to executive session was necessary. The next regular meeting will be held on May 22, 2012 at 7:15 PM. VIII. ADJOURNMENT Motion To adjourn., Action Adjourn, Moved By Pat Turner, Seconded By Donnie Graham Motion Passed Unanimously The meeting was adjourned at 9:40 PM. APPROVED: ________________________________ President Robert Mundy ATTEST: _________________________________ City Secretary, Amethyst G. Cirmo Staff Report to the Board of Directors Date: May 22, 2012 Agenda Item No: REGULAR ITEMS - A. I. Subject: Review KEDC Financial Report. II. Originated by: Sakura Moten-Dedrick, Director of Finance & IT III. Summary: IV. Recommendation: Approve V. Alternative Actions: VI. Attachments: 1.Mar 2012 EDC Financials 20120522 EDC Mar 12 Financials.pdf MAR 2012 PARK BOARD FINANCIALS Budget/Amendment No changes. Year -To -Date • Ad Valorem Tax: No significant change. • Sales /Beverage Tax: Increase in comparison over this time last year . Receipts are trending upward with the economy (see Monthly Graph, 3 -Year Historical Graph, 10 -Year Historical Data). • Inve stment Earnings : No significant change . • Miscellaneous Income: No significant change. • Surplus Sales/Rentals : No significant change . • Transfers: No significant change . • Personnel : No significant change. • Supplies: Increase in comparison over this time last ye ar . This year included costs tied to the TownCenter Grand Reopening and 9/11 Memorial. • Maintenance: No significant change. • S undry : Increase in comparison over this time last year . This year included approximately $6 0K of Engineering expenses tied to the Green Ribbon Grant Project. • Debt: Increase in comparison over this time last year . This year included the repayment of over $1M in Texas Leverage Fund principal back to the state per the EDC Board’s direction. • Transfers: No significant change . • Capital: Decrease in comparison over this time last year . E stimate The EDC Board acc epted the FY10/11 audit at their April 2012 meeting. As a result of these ending audited fund balances , we anticipate a FY11/12 ending fund balance of $119,866 ($0 operations / $0 capital bond project / $119,866 reserve bond ). CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES INCOME STATEMENT "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 INCOME STATEMENT BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE OPERATING REVENUES 587,149 587,149 251,484 2,349,305 1,295,404 1,295,404 255,616 1,323,904 OPERATING EXPENDITURES (608,509) (608,509) (619,662) (1,180,427) (2,837,324) (2,837,324) (1,749,025) (2,769,026) OPERATING INCOME/(LOSS)(21,360) (21,360) (368,179) 1,168,878 (1,541,920) (1,541,920) (1,493,408) (1,445,122) NONOPERATING REVENUES/(EXPENSES)INTEREST EARNINGS 4,200 4,200 126 130 250 250 585 700 TRANSFERS IN - - - - - - - - (TRANSFER OUT)(154,619) (154,619) (39,809) (154,619) (153,119) (153,119) (39,059) (153,119) NET OPERATING INCOME/(LOSS)(171,779) (171,779) (407,862) 1,014,389 (1,694,788) (1,694,788) (1,531,883) (1,597,540) BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ ENDING FUND BALANCE (EXCLUDING OTHER FUNDS)411,372 $ 411,372 $ 175,289 $ 1,597,540 $ (97,248)$ (97,248)$ 65,658 $ (0)$ 95: EDC4B RESERVE FUND 120,137 $ 120,137 $ 119,723 $ 119,766 $ 120,006 $ 120,006 $ 119,810 $ 119,866 $ 19: EDC4B CAPITAL BOND FUND 1,017,184 $ 1,017,184 $ 805,181 $ 464,133 $ 119,383 $ 119,383 $ 122,899 $ (0)$ ENDING FUND BALANCE (INCLUDING OTHER FUNDS)1,548,693 $ 1,548,693 $ 1,100,193 $ 2,181,439 $ 142,141 $ 142,141 $ 308,367 $ 119,866 $ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 583,151 $ 583,151 $ 583,151 $ 583,151 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ 1,597,540 $ AD VALOREM TAXES 23,467 23,467 32,064 52,138 42,466 42,466 26,709 42,466 136.6%62.9% SALES/BEVERAGE TAXES 324,438 324,438 117,308 366,165 352,666 352,666 124,341 381,166 36.2%35.3%INVESTMENT EARNINGS 4,200 4,200 126 130 250 250 585 700 3.0%234.1% MISCELLANEOUS INCOME - - - 21,916 676,000 676,000 - 676,000 0.0%0.0% SURPLUS SALES/RENTALS 239,244 239,244 102,111 209,087 224,272 224,272 104,566 224,272 42.7%46.6%TRANSFERS -$ -$ -$ 1,700,000 $ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 591,349 $ 591,349 $ 251,610 $ 2,349,435 $ 1,295,654 $ 1,295,654 $ 256,201 $ 1,324,604 $ 42.5%19.8% PERSONNEL - - - - - - - - 0.0%0.0% SUPPLIES 31,610 31,610 2,362 22,314 21,344 21,344 12,686 25,525 7.5%59.4% MAINTENANCE 17,790 17,790 16,539 21,749 22,856 22,856 17,790 23,631 93.0%77.8%SUNDRY 249,810 249,810 122,671 243,564 265,906 265,906 155,594 359,077 49.1%58.5% DEBT 111,798 111,798 52,302 125,701 313,243 313,243 1,150,406 1,250,315 46.8%367.3% TRANSFERS 154,619 154,619 39,809 154,619 153,119 153,119 39,059 153,119 25.7%25.5%CAPITAL 197,501 197,501 425,788 767,099 2,213,975 2,213,975 412,549 1,110,478 215.6%18.6% TOTAL EXPENDITURES 763,128 $ 763,128 $ 659,472 $ 1,335,046 $ 2,990,442 $ 2,990,442 $ 1,788,084 $ 2,922,144 $ 86.4%59.8% REVENUES OVER EXPENDITURES (171,779)$ (171,779)$ (407,862)$ 1,014,389 $ (1,694,788)$ (1,694,788)$ (1,531,883)$ (1,597,540)$ ENDING FUND BALANCE 411,372 $ 411,372 $ 175,289 $ 1,597,540 $ (97,248)$ (97,248)$ 65,658 $ (0)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 53.9%53.9%26.6%119.7%-3.3%-3.3%3.7%0.0% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)411,372 $ 411,372 $ 175,289 $ 1,597,540 $ (97,248)$ (97,248)$ 65,658 $ (0)$ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 4001-00-00 PROPERTY TAX-CURRENT YEAR - - - - - - - - 0.0%0.0%4002-00-00 MMD TAX-CURRENT YEAR 23,467 23,467 32,064 52,138 42,466 42,466 26,709 42,466 136.6%62.9%AD VALOREM TAXES 23,467 $ 23,467 $ 32,064 $ 52,138 $ 42,466 $ 42,466 $ 26,709 $ 42,466 $ 136.6%62.9% 4081-00-00 SALES TAX 324,438 324,438 117,308 366,165 352,666 352,666 124,341 381,166 36.2%35.3% 4082-00-00 MIXED BEVERAGE TAX - - - - - - - - 0.0%0.0%SALES/BEVERAGE TAXES 324,438 $ 324,438 $ 117,308 $ 366,165 $ 352,666 $ 352,666 $ 124,341 $ 381,166 $ 36.2%35.3% 4401-00-00 INVESTMENT INCOME 4,200 4,200 126 130 250 250 585 700 3.0%234.1%INVESTMENT EARNINGS 4,200 $ 4,200 $ 126 $ 130 $ 250 $ 250 $ 585 $ 700 $ 3.0%234.1% 4409-00-00 MISCELLANEOUS INCOME - - - 21,916 676,000 676,000 - 676,000 0.0%0.0% 4411-00-00 TEXAS LEVERAGE FUND PROGRAM - - - - - - - - 0.0%0.0%4415-00-00 INSURANCE REIMBURSEMENT - - - - - - - - 0.0%0.0%MISCELLANEOUS INCOME -$ -$ -$ 21,916 $ 676,000 $ 676,000 $ -$ 676,000 $ 0.0%0.0% 4805-00-00 RENTAL FEES-SHOPPING CENTER 235,244 235,244 102,437 208,534 220,272 220,272 104,364 220,272 43.5%47.4%4806-00-00 RENTAL INSURANCE 4,000 4,000 (326) 553 4,000 4,000 202 4,000 -8.1%5.0%SURPLUS SALES/RENTALS 239,244 $ 239,244 $ 102,111 $ 209,087 $ 224,272 $ 224,272 $ 104,566 $ 224,272 $ 42.7%46.6% 4902-00-00 PROCEEDS - DEBT/LOAN ISSUANCE - - - 1,700,000 - - - - 0.0%0.0%TRANSFERS -$ -$ -$ 1,700,000 $ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 591,349 $ 591,349 $ 251,610 $ 2,349,435 $ 1,295,654 $ 1,295,654 $ 256,201 $ 1,324,604 $ 42.5%19.8% TOTAL REVENUES (EXCLUDING INTEREST/TRANSFERS)587,149 $ 587,149 $ 251,484 $ 649,305 $ 1,295,404 $ 1,295,404 $ 255,616 $ 1,323,904 $ 10% ADMIN CHARGE-GENERAL FUND 58,715 58,715 42,250 64,931 129,540 129,540 25,562 132,390 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 $50,000 $55,000 $60,000 $65,000 $70,000 $75,000 $80,000 $85,000 $90,000 $95,000 $100,000 $105,000 $110,000 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 $150,000 OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Economic Development Corporation Sales Tax Revenue Three Year History 2008 -09 ACTUAL 2009 -10 ACTUAL 2010 -11 ACTUAL 2011 -12 ACTUAL 24,368 39,515 24,331 28,700 38,020 25,672 27,583 37,335 24,899 25,572 28,137 36,010 24,368 39,515 24,331 28,700 38,020 24,647 26,558 36,310 23,874 24,547 26,962 34,835 31,540 37,196 38,349 29,926 30,992 24,484 $15,000 $20,000 $25,000 $30,000 $35,000 $40,000 $45,000 OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP Year Economic Development Corporation Sales Tax Revenue FY2010 -11 Monthly History 2010 -11 ACTUAL 2011 -12 BUDGET 2011 -12 ACTUAL Sales Tax Collections ECONOMIC DEVELOPMENT CORPORATION 4B SALES TAX - $0.005 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2011-12 2011-12 GAIN/GAIN/YTD 2011-12 ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL BUDGET ACTUAL YTD LOSS LOSS CUM ESTIMATE OCT 25,015 26,737 27,574 30,493 26,719 21,880 22,001 19,568 24,368 24,368 31,540 31,540 7,172 29.4%29.4%31,540 NOV 34,511 33,807 28,806 33,284 41,109 30,548 33,732 27,081 39,515 39,515 37,196 68,736 (2,319) -5.9%7.6%37,196 DEC 23,399 26,428 23,373 24,372 23,107 23,438 30,093 18,417 24,331 24,331 38,349 107,085 14,019 57.6%21.4%38,349 JAN 23,198 21,991 22,728 23,443 26,331 22,677 19,433 18,102 28,700 28,700 29,926 137,011 1,226 4.3%17.2%29,926 FEB 32,631 35,744 33,862 35,625 29,751 29,839 33,556 24,379 38,020 38,020 30,992 168,004 (7,027) -18.5%8.4%30,992 MAR 23,889 22,465 21,345 24,975 16,997 21,830 17,063 18,010 25,672 24,647 24,484 192,488 (162) -4.6%6.6%24,484 APR 20,435 23,465 21,936 24,036 25,672 24,231 22,636 18,030 27,583 26,558 37,230 229,718 10,672 35.0%10.3%37,230 MAY 35,360 36,121 36,355 35,851 32,194 31,278 30,806 55,683 37,335 36,310 41,230 270,948 4,920 10.4%10.4%41,230 JUN 22,968 33,889 24,011 27,616 26,993 24,985 21,608 29,762 24,899 23,874 23,874 294,822 - -4.1%9.0%23,874 JUL 25,600 25,928 25,987 24,299 27,477 30,517 17,906 141,681 25,572 24,547 24,547 319,369 - -4.0%7.9%24,547 AUG 32,378 30,767 34,222 35,983 28,340 38,499 33,664 34,381 28,137 26,962 26,962 346,331 - -4.2%6.8%26,962 SEP 26,060 25,710 22,677 27,368 30,430 23,534 24,245 27,457 36,010 34,835 34,835 381,166 - -3.3%5.8%34,835 325,445 343,051 322,876 347,346 335,121 323,256 306,744 432,550 360,141 352,666 381,166 28,500 381,166 -2.62%5.41%-5.88%7.58%-3.52%-3.54%-5.11%41.01%-16.74%-2.08%5.84%5.84% ACCOUNT OCT NOV DEC JAN FEB MAR TOTAL INCOME Rental Income 17,468.00 $ 17,468.00 $ 17,468.00 $ 17,468.00 $ 14,668.00 $ 15,090.92 $ 114,721.84 $ Tax Escrows 3,224.02 $ 11,399.98 $ 3,224.02 $ 3,224.02 $ 2,898.37 $ 2,738.95 $ 29,448.31 $ Insurance Escrows 38.37 $ 38.37 $ 38.37 $ 38.37 $ 23.95 $ 24.37 $ 226.17 $ CAM Escrows 814.70 $ 814.70 $ 814.70 $ 814.70 $ 737.16 $ 737.16 $ 5,470.28 $ Security Deposit -$ -$ -$ -$ -$ -$ -$ TOTAL INCOME 21,545.09 $ 29,721.05 $ 21,545.09 $ 21,545.09 $ 18,327.48 $ 18,591.40 $ 149,866.60 $ EXPENSES General & Admin -$ -$ -$ -$ -$ -$ -$ Property Mgmt 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 3,500.00 $ Office Expenses -$ -$ -$ -$ -$ -$ -$ Legal Services -$ -$ -$ -$ -$ -$ -$ Rental Commissions -$ -$ -$ -$ -$ -$ -$ Electricity 329.26 $ 361.84 $ 384.35 $ 458.41 $ -$ -$ 2,283.23 $ Sweeping 326.00 $ -$ -$ -$ -$ -$ 326.00 $ Porter service -$ -$ -$ -$ -$ -$ -$ Landscape 638.28 $ 638.28 $ 638.28 $ 1,442.68 $ 638.00 $ 638.28 $ 5,272.08 $ Fire Sprinkler/Alarm 150.00 $ -$ -$ 150.00 $ -$ -$ 450.00 $ Asphalt -$ -$ -$ -$ -$ -$ -$ Landscape Materials -$ -$ -$ -$ -$ -$ -$ Maintenance/Construction 3,299.60 $ 5,132.36 $ -$ 1,650.00 $ 607.58 $ 1,065.00 $ 13,468.54 $ Roofing Repair -$ -$ -$ -$ -$ -$ -$ Signage -$ -$ -$ -$ -$ -$ -$ TOTAL EXPENSES 5,243.14 $ 6,632.48 $ 1,522.63 $ 4,201.09 $ 1,745.58 $ 2,203.28 $ 25,299.85 $ ADJUSTMENTS Operating Balance -$ -$ -$ -$ -$ -$ -$ TOTAL ADJUSTMENTS -$ -$ -$ -$ -$ -$ -$ NET PROFIT/(LOSS) - CHECK 16,301.95 $ 23,088.57 $ 20,022.46 $ 17,344.00 $ 16,581.90 $ 16,388.12 $ 124,566.75 $ Total Rental Income Posted 18,282.70 $ 18,282.70 $ 18,282.70 $ 18,282.70 $ 15,405.16 $ 15,828.08 $ 120,192.12 $ CYPRESS HISTORY FOR KENNEDALE TOWN SHOPPING CENTER FY2011-2012 ACCOUNT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP TOTAL INCOME Rental Income 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 16,568.00 $ 17,468.00 $ 17,468.00 $ 200,616.00 $ Tax Escrows 1,669.00 $ 1,669.00 $ 1,669.00 $ 3,455.24 $ 12,434.32 $ 7,544.56 $ 3,953.93 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 3,224.02 $ 48,515.15 $ Insurance Escrows 142.00 $ 142.00 $ 142.00 $ 90.81 $ 38.37 $ 38.37 $ 38.37 $ 38.37 $ 38.37 $ 687.30 $ 38.37 $ 38.37 $ 1,472.70 $ CAM Escrows 1,040.00 $ 1,040.00 $ 1,040.00 $ 983.50 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 814.70 $ 10,621.10 $ Security Deposit -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL INCOME 19,419.00 $ 19,419.00 $ 19,419.00 $ 21,097.55 $ 29,855.39 $ 24,965.63 $ 21,375.00 $ 20,645.09 $ 20,645.09 $ 21,294.02 $ 21,545.09 $ 21,545.09 $ 261,224.95 $ EXPENSES General & Admin -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Property Mgmt 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 6,000.00 $ Office Expenses -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Legal Services -$ -$ -$ -$ -$ -$ 80.00 $ -$ -$ -$ -$ -$ 80.00 $ Rental Commissions -$ -$ -$ -$ -$ 5,040.00 $ 5,040.00 $ -$ -$ -$ -$ -$ 10,080.00 $ Electricity 35.99 $ 35.99 $ 71.98 $ 35.99 $ 90.30 $ 232.48 $ 294.52 $ 415.64 $ 700.26 $ 625.61 $ 373.86 $ 296.64 $ 3,209.26 $ Sweeping 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ 300.00 $ -$ -$ -$ -$ -$ -$ 1,800.00 $ Porter service -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape 320.00 $ 320.00 $ 320.00 $ 320.00 $ 870.00 $ 620.00 $ 638.28 $ 638.28 $ 638.28 $ 1,618.28 $ 638.28 $ 638.28 $ 7,579.68 $ Fire Sprinkler/Alarm 150.00 $ -$ -$ 150.00 $ -$ -$ 150.00 $ -$ -$ 150.00 $ -$ -$ 600.00 $ Asphalt -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Landscape Materials -$ -$ -$ -$ -$ 2,963.38 $ -$ -$ -$ -$ -$ -$ 2,963.38 $ Maintenance/Construction 75.00 $ -$ -$ 2,725.83 $ 3,179.04 $ 2,725.83 $ -$ -$ -$ -$ -$ -$ 8,705.70 $ Roofing Repair -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Signage -$ -$ -$ -$ -$ -$ 100.00 $ -$ -$ -$ -$ -$ 100.00 $ TOTAL EXPENSES 1,380.99 $ 1,155.99 $ 1,191.98 $ 4,031.82 $ 4,939.34 $ 12,381.69 $ 6,802.80 $ 1,553.92 $ 1,838.54 $ 2,893.89 $ 1,512.14 $ 1,434.92 $ 41,118.02 $ ADJUSTMENTS Operating Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ TOTAL ADJUSTMENTS -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ NET PROFIT/(LOSS) - CHECK 18,038.01 $ 18,263.01 $ 18,227.02 $ 17,065.73 $ 24,916.05 $ 12,583.94 $ 14,572.20 $ 19,091.17 $ 18,806.55 $ 18,400.13 $ 20,032.95 $ 20,110.17 $ 220,106.93 $ Total Rental Income Posted 17,608.00 $ 17,608.00 $ 17,608.00 $ 17,551.50 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 17,382.70 $ 18,282.70 $ 18,282.70 $ 211,237.10 $ CYPRESS HISTORY FOR KENNEDALE TOWN SHOPPING CENTER FY2010-2011 CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5101-01-00 SALARIES - - - - - - - - 0.0%0.0% 5107-01-00 OVERTIME - - - - - - - - 0.0%0.0% 5111-01-00 AUTO ALLOWANCE - - - - - - - - 0.0%0.0%5114-01-00 LONGEVITY - - - - - - - - 0.0%0.0% 5115-01-00 RETIREMENT - - - - - - - - 0.0%0.0%5116-01-00 UNEMPLOYMENT INSURANCE - - - - - - - - 0.0%0.0% 5117-01-00 FICA - - - - - - - - 0.0%0.0% 5118-01-00 MEDICAL INSURANCE - - - - - - - - 0.0%0.0%5120-01-00 LIFE INSURANCE - - - - - - - - 0.0%0.0% 5121-01-00 DENTAL INSURANCE - - - - - - - - 0.0%0.0%5122-01-00 VISION INSURANCE - - - - - - - - 0.0%0.0% 5190-01-00 VACATION/SICK/TERM/LEAVE ADJ - - - - - - - - 0.0%0.0% PERSONNEL -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5220-01-00 UNIFORMS 300 300 - - 300 300 - 300 0.0%0.0% 5240-01-00 PRINTED SUPPLIES 22,000 22,000 2,351 4,466 16,544 16,544 4,447 16,544 10.7%26.9% 5260-01-00 GENERAL OFFICE SUPPLIES 250 250 12 12 250 250 - 250 4.7%0.0%5261-01-00 POSTAGE 500 500 - 59 250 250 58 250 0.0%23.1% 5280-01-00 MINOR EQUIP/SMALL TOOLS<$5K - - - - - - - - 0.0%0.0%5290-01-00 EXPENDABLE SUPPLIES 4,000 4,000 - 17,778 4,000 4,000 8,181 8,181 0.0%204.5% SUPPLIES 27,050 $ 27,050 $ 2,362 $ 22,314 $ 21,344 $ 21,344 $ 12,686 $ 25,525 $ 8.7%59.4% 5403-01-00 BUILDING MAINTENANCE - - - - - - 775 775 0.0%#DIV/0!5440-01-00 OFFICE EQUIP/SOFTWARE MAINT - - - - - - - - 0.0%0.0% MAINTENANCE -$ -$ -$ -$ -$ -$ 775 $ 775 $ 0.0%#DIV/0! 5501-01-00 ADVERTISING 5,000 5,000 - 1,436 5,000 5,000 2,871 5,000 0.0%57.4%5510-01-00 ASSOC DUES/PUBLICATIONS 3,375 3,375 1,006 2,460 2,350 2,350 3,349 3,400 29.8%142.5% 5512-01-00 CONTRACTUAL SERVICES - - - - - - - - 0.0%0.0%5525-01-00 TRAINING/SEMINARS 1,000 1,000 - - 1,000 1,000 - 1,000 0.0%0.0% 5565-01-00 LEGAL SERVICES 25,000 25,000 2,593 7,581 10,000 10,000 3,914 40,000 10.4%39.1% 5567-01-00 AUDIT SERVICES 1,500 1,500 - 1,500 1,500 1,500 1,500 1,500 0.0%100.0%5569-01-00 IT SUPPORT - - - - - - - - 0.0%0.0% 5570-01-00 SPECIAL SERVICES 95,420 95,420 51,254 126,611 86,036 86,036 48,782 86,036 53.7%56.7%5575-01-00 EQUIPMENT RENTAL - - - - - - - - 0.0%0.0% 5578-01-00 TRAVEL 700 700 - 22 700 700 - 700 0.0%0.0% 5580-01-00 ENGINEERING SERVICES - - - - - - 53,794 60,221 0.0%#DIV/0!5585-01-00 TELEPHONE SERVICES - - - - - - - - 0.0%0.0% 5595-01-00 ADMIN CHARGE-GENERAL FUND 58,715 58,715 31,537 69,885 129,540 129,540 25,562 129,540 53.7%19.7%SUNDRY 190,710 $ 190,710 $ 86,390 $ 209,494 $ 236,126 $ 236,126 $ 139,771 $ 327,397 $ 45.3%59.2% 5610-01-00 VISUAL GRANT - - - - - - - - 0.0%0.0%5615-01-00 FUNCTIONAL GRANT - - - - - - - - 0.0%0.0% 5625-01-00 ISSUANCE COST - - - - - - - - 0.0%0.0% DEBT -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5701-01-00 TRANSFER OUT-GENERAL FUND - - - - - - - - 0.0%0.0%5714-01-00 TRANSFER OUT-DEDICATION FUND - - - - - - - - 0.0%0.0% 5795-01-00 TRANSFER OUT-EDC RESERVE FUND - - - - - - - - 0.0%0.0% TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5800-01-00 LAND 10,000 10,000 6,232 293,392 325,000 325,000 160,854 227,269 62.3%49.5%5813-01-00 KENNEDALE ENTRANCE SIGN 45,000 45,000 - - 45,000 45,000 - - 0.0%0.0% 5820-01-00 BUILDING IMPROVEMENT 15,000 15,000 - - 15,000 15,000 39,209 39,209 0.0%261.4% 5875-01-00 CONSTRUCTION - - - 18,644 - - 88,463 84,000 0.0%#DIV/0! CAPITAL 70,000 $ 70,000 $ 6,232 $ 312,036 $ 385,000 $ 385,000 $ 288,526 $ 350,478 $ 8.9%74.9% TOTAL EXPENDITURES 287,760 $ 287,760 $ 94,984 $ 543,844 $ 642,470 $ 642,470 $ 441,758 $ 704,175 $ 33.0%68.8% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 01: ADMINISTRATION 03: DEBT SERVICE FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5620-01-03 ISSUANCE COSTS - - - - - - - - 0.0%0.0% 5621-01-03 PAYING AGENT FEES - - - - - - - - 0.0%0.0%5643-01-03 2007 $1.2M TAX BOND-INTEREST 76,798 76,798 38,277 76,676 74,365 74,365 37,027 74,365 49.8%49.8%5644-01-03 2007 $1.2M TAX BOND-PRINCIPAL 35,000 35,000 - 35,000 40,000 40,000 - 40,000 0.0%0.0%5645-01-03 2011 $1.7M TX LEVERAGE-INT - - - - 50,479 50,479 18,504 26,893 0.0%36.7% 5646-01-03 2011 $1.7M TX LEVERAGE-PRI - - - - 131,399 131,399 1,077,875 1,092,058 0.0%820.3% DEBT 111,798 $ 111,798 $ 38,277 $ 111,676$ 296,243 $ 296,243 $ 1,133,406 $ 1,233,315 $ 34.2%382.6% 5702-01-03 TRANSFER OUT-DEBT SERVICE FUND 154,619 154,619 39,809 154,619 153,119 153,119 39,059 153,119 25.7%25.5% TRANSFER 154,619 $ 154,619 $ 39,809 $ 154,619$ 153,119 $ 153,119 $ 39,059 $ 153,119 $ 25.7%25.5% TOTAL EXPENDITURES 266,417 $ 266,417 $ 78,087 $ 266,295$ 449,362 $ 449,362 $ 1,172,465 $ 1,386,434 $ 29.3%260.9% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 02: TOWN SHOPPING CENTER FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5280-02-00 MINOR EQUIP/SMALL TOOLS<$5K 4,560 4,560 - - - - - - 0.0%0.0% SUPPLIES 4,560 $ 4,560 $ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5403-02-00 BUILDING MAINTENANCE 17,790 17,790 16,539 21,749 22,856 22,856 17,014 22,856 93.0%74.4% MAINTENANCE 17,790 $ 17,790 $ 16,539 $ 21,749 $ 22,856 $ 22,856 $ 17,014 $ 22,856 $ 93.0%74.4% 5501-02-00 ADVERTISING - - - - - - - - 0.0%0.0% 5510-02-00 ASSOC DUES/PUBLICATIONS - - - - - - - - 0.0%0.0%5512-02-00 CONTRACTUAL SERVICES - - - - - - - - 0.0%0.0% 5530-02-00 ELECTRIC SERVICES 7,800 7,800 503 3,209 4,200 4,200 1,534 4,200 6.4%36.5%5545-02-00 INSURANCE-PROPERTY 4,000 4,000 3,401 3,401 4,000 4,000 5,881 5,900 85.0%147.0% 5565-02-00 LEGAL SERVICES - - - - - - - - 0.0%0.0% 5570-02-00 SPECIAL SERVICES 6,000 6,000 8,040 16,160 11,580 11,580 8,408 11,580 134.0%72.6% SUNDRY 17,800 $ 17,800 $ 11,943 $ 22,770 $ 19,780 $ 19,780 $ 15,823 $ 21,680 $ 67.1%80.0% TOTAL EXPENDITURES 40,150 $ 40,150 $ 28,483 $ 44,519 $ 42,636 $ 42,636 $ 32,837 $ 44,536 $ 70.9%77.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 03: TOWN CENTER REDEVELOPMENT FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5570-03-00 SPECIAL SERVICES - - - - - - - - 0.0%0.0% 5579-03-00 ARCHITECT/DESIGN SERVICES 26,000 26,000 - - - - - - 0.0%0.0% 5580-03-00 ENGINEERING SERVICES 15,300 15,300 24,338 11,300 10,000 10,000 - 10,000 159.1%0.0% SUNDRY 41,300 $ 41,300 $ 24,338 $ 11,300 $ 10,000 $ 10,000 $ -$ 10,000 $ 58.9%0.0% 5800-03-00 LAND - - - - - - - - 0.0%0.0% 5847-03-00 CONSTRUCTION 127,501 127,501 419,556 455,063 160,000 160,000 124,024 160,000 329.1%77.5% CAPITAL 127,501 $ 127,501 $ 419,556$ 455,063 $ 160,000 $ 160,000 $ 124,024$ 160,000 $ 329.1%77.5% 168,801 $ 168,801 $ 443,894$ 466,363 $ 170,000 $ 170,000 $ 124,024$ 170,000 $ 263.0%73.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 15: EDC4B FUND 04: TEXAS LEVERAGE FUND PROGRAM FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5615-04-00 FUNCTIONAL GRANT - - 14,025 14,025 - - - - #DIV/0!0.0% 5620-04-00 ISSUANCE COSTS - - - - 17,000 17,000 17,000 17,000 0.0%100.0%DEBT -$ -$ 14,025 $ 14,025 $ 17,000 $ 17,000 $ 17,000 $ 17,000 $ #DIV/0!100.0% 5847-03-00 CONSTRUCTION - - - - 1,668,975 1,668,975 - 600,000 0.0%0.0%CAPITAL -$ -$ -$ -$ 1,668,975 $ 1,668,975 $ -$ 600,000 $ 0.0%0.0% -$ -$ 14,025 $ 14,025 $ 1,685,975 $ 1,685,975 $ 17,000 $ 617,000 $ #DIV/0!1.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 19: EDC4B CAPITAL BOND FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 1,279,351 $ 1,279,351 $ 1,279,351 $ 1,279,351 $ 464,133 $ 464,133 $ 464,133 $ 464,133 $ INVESTMENT EARNINGS 500 500 1,028 1,310 250 250 161 250 205.7%64.3% TRANSFERS - - - - - - - - 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 1,028 $ 1,310 $ 250 $ 250 $ 161 $ 250 $ 205.7%64.3% MAINTENANCE - - - - - - - - 0.0%0.0% SUNDRY 28,143 28,143 61,625 100,371 250,000 250,000 23,220 139,383 219.0%9.3% CAPITAL 234,524 234,524 413,573 716,157 95,000 95,000 318,174 325,000 176.3%334.9%TOTAL EXPENDITURES 262,667 $ 262,667 $ 475,198 $ 816,529 $ 345,000 $ 345,000 $ 341,394 $ 464,383 $ 180.9%99.0% REVENUES OVER EXPENDITURES (262,167)$ (262,167)$ (474,170)$ (815,218)$ (344,750)$ (344,750)$ (341,233)$ (464,133)$ ENDING FUND BALANCE 1,017,184 $ 1,017,184 $ 805,181 $ 464,133 $ 119,383 $ 119,383 $ 122,899 $ (0)$ ADJUSTMENTS FUND BALANCE AS % OF EXP 387.3%387.3%169.4%56.8%34.6%34.6%36.0%0.0% RESERVE (NO REQUIREMENT)-$ -$ -$ -$ -$ -$ -$ -$ RESERVE SURPLUS/(SHORTFALL)1,017,184 $ 1,017,184 $ 805,181 $ 464,133 $ 119,383 $ 119,383 $ 122,899 $ (0)$ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE/EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 19: EDC4B CAPITAL BOND FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 1,028 1,310 250 250 161 250 205.7%64.3%INVESTMENT EARNINGS 500 $ 500 $ 1,028 $ 1,310 $ 250 $ 250 $ 161 $ 250 $ 205.7%64.3% 4913-00-00 TRANSFER IN-CAPITAL BOND FUND - - - - - - - - 0.0%0.0%TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 1,028 $ 1,310 $ 250 $ 250 $ 161 $ 250 $ 205.7%64.3% 19: EDC4B CAPITAL BOND FUND 01: TOWN CENTER REDEVELOPMENT FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5403-01-00 BUILDING MAINTENANCE - - - - - - - - 0.0%0.0%MAINTENANCE -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% 5525-01-00 TRAINING/SEMINARS - - - - - - - - 0.0%0.0% 5570-01-00 SPECIAL SERVICES - - - 15,400 240,000 240,000 13,750 129,383 0.0%5.7% 5579-01-00 ARCHITECT/DESIGN SERVICES - - 30,263 37,217 - - - - #DIV/0!0.0%5580-01-00 ENGINEERING SERVICES 28,143 28,143 31,363 47,755 10,000 10,000 9,470 10,000 111.4%94.7%SUNDRY 28,143 $ 28,143 $ 61,625 $ 100,371 $ 250,000 $ 250,000 $ 23,220 $ 139,383 $ 219.0%9.3% 5800-01-00 LAND - - 6,473 7,558 25,000 25,000 - - #DIV/0!0.0%5847-01-00 CONSTRUCTION 234,524 234,524 407,100 708,600 70,000 70,000 318,174 325,000 173.6%454.5%CAPITAL 234,524 $ 234,524 $ 413,573 $ 716,157 $ 95,000 $ 95,000 $ 318,174 $ 325,000 $ 176.3%334.9% TOTAL EXPENDITURES 262,667 $ 262,667 $ 475,198 $ 816,529 $ 345,000 $ 345,000 $ 341,394 $ 464,383 $ 180.9%99.0% CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES FUND SUMMARY BY CATEGORY "EXEMPLIFYING EXCELLENCE" 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 CATEGORY BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD FEB ESTIMATE YTD %YTD % BEGINNING FUND BALANCE 119,637 $ 119,637 $ 119,637 $ 119,637 $ 119,766 $ 119,766 $ 119,766 $ 119,766 $ INVESTMENT EARNINGS 500 500 86 129 240 240 44 100 17.3%18.5%TRANSFERS - - - - - - - - 0.0%0.0%TOTAL REVENUES 500 $ 500 $ 86 $ 129 $ 240 $ 240 $ 44 $ 100 $ 17.3%18.5% TRANSFERS - - - - - - - - 0.0%0.0%TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% REVENUES OVER EXPENDITURES 500 $ 500 $ 86 $ 129 $ 240 $ 240 $ 44 $ 100 $ ENDING FUND BALANCE 120,137 $ 120,137 $ 119,723 $ 119,766 $ 120,006 $ 120,006 $ 119,810 $ 119,866 $ ADJUSTMENTS - - - - - - - - FUND BALANCE AS % OF EXP 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 $ RESERVE SURPLUS/(SHORTFALL)7,531 $ 7,531 $ 7,117 $ 7,160 $ 7,400 $ 7,400 $ 7,204 $ 7,260 $ CITY OF KENNEDALE, TEXAS ANNUAL PROGRAM OF SERVICES REVENUE/EXPENDITURE LINE ITEM SUMMARY "EXEMPLIFYING EXCELLENCE" 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 4401-00-00 INVESTMENT INCOME 500 500 86 129 240 240 44 100 17.3%18.5%INVESTMENT EARNINGS 500 $ 500 $ 86 $ 129 $ 240 $ 240 $ 44 $ 100 $ 17.3%18.5% 4915-00-00 TRANSFER IN-EDC FUND - - - - - - - - 0.0%0.0% 4920-00-00 TRANSFER IN - - - - - - - - 0.0%0.0%OTHER AGENCY -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL REVENUES 500 $ 500 $ 86 $ 129 $ 240 $ 240 $ 44 $ 100 $ 17.3%18.5% 95: EDC4B RESERVE FUND FY10-11 FY10-11 FY10-11 FY10-11 FY11-12 FY11-12 FY11-12 FY11-12 FY10-11 FY11-12 ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD MAR ACTUAL PROPOSED AMENDED YTD MAR ESTIMATE YTD %YTD % 5715-00-00 TRANSFER OUT-EDC FUND - - - - - - - - 0.0%0.0%TRANSFERS -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% TOTAL EXPENDITURES -$ -$ -$ -$ -$ -$ -$ -$ 0.0%0.0% Staff Report to the Board of Directors Date: May 22, 2012 Agenda Item No: STAFF ANNOUNCEMENTS/REPORTS - A. I. Subject: Updates from the Executive Director, Orasi Development, and the Kennedale Chamber of Commerce. 1. Chamber of Commerce update 2. Hotel development 3. TownCenter Status 4. Land activity 5. Red Roadhouse Restaurant 6. QuickTrip update 7. Road project update II. Originated by: Bob Hart, City Manager III. Summary: Bob Hart and Jack Thompson will discuss the above information. IV. Recommendation: None V. Alternative Actions: VI. Attachments: