2015_03.12 EDC Agenda PacketECONOMIC DEVELOPMENT CORPORATION
AGENDA
BOARD OF DIRECTORS - REGULAR MEETING
March 12, 2015
CITY HALL CONFERENCE ROOM, 405 MUNICIPAL DRIVE
REGULAR SESSION - 12:00 PM
CALL TO ORDER
II. ROLL CALL
III. MINUTES APPROVAL
A. Consider approval of the minutes from the February 12, 2015 regular meeting
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for January 2015.
B. Discuss and consider action for approval of Economic Development Corporation
Independent Auditor's Report for year ended September 30, 2014.
1VA&A L\3y, \iN .00111.N? &I#Rk &*fl.1 09J;W
A. Link Street, Burger King, Popeye's Ribbon Cutting
B. TIP Sidewalk Project
C. Village Creek Studies
D. Chamber Update
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, lease,
or value of real property
1. Town Center Development
2. 733 Kennedale Parkway Business Incentives
3. 5414 Highridge Road
4. Industrial Prospect for Bloxom Park
5. 1298 Kennedale Parkway Business Incentives
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY
PURSUANT TO EXECUTIVE SESSION, IF NEEDED
VIII. 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 the City Secretary at 817.985.2104 or (TDD)
1.800.735.2989
CERTIFICATION
I certify that a copy of the March 12, 2015, 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.
_!a_Q.2c- ��
Leslie Galloway, City cretary
405 Municipal Drive, Kennedale, TX 76060 1 Telephone: 817.985.2102 1 Fax: 817- 478 -7169
Date: March 12, 2015
Agenda Item No: MINUTES APPROVAL - A.
I. Subject:
Consider approval of the minutes from the February 12, 2015 regular meeting
11. Originated by:
Kathy Moore, Deputy City Secretary
III. Summary:
Minutes are prepared by the Deputy City Secretary and ready for approval.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
1. JEDC Meeting Minutes - February 12, 2015 2712.15.pdf
ECONOMIC DEVELOPMENT CORPORATION
BOARD OF DIRECTORS - REGULAR MEETING
MINUTES
February 12, 2015
I. CALL TO ORDER
Robert Mundy called the meeting to order at 12:00 p.m.
II. ROLL CALL
Present: Robert Mundy, Ron Whitley, Rebecca Mowell, Mark Yeary, Mike Johnson, Adrienne Kay and
Pat Turner
Absent: None
Staff Present: Bob Hart, Kathy Moore, and Jack Thompson with Orasi Development/Chamber of
Commerce
III. MINUTES APPROVAL
A. Consider approval of the minutes from the January 8, 2015 regular meeting
Motion: To approve the minutes as presented. Action: Approve, Moved By: Adrienne Kay, Seconded By:
Ron Whitley.
Motion Passed Unanimously
IV. REGULAR ITEMS
A. Review and accept the KEDC Financial Report for December 2014
Sakura Moten - Dedrick present the December 2014 Financial Report for the Kennedale Economic
Development Corporation, noting the comparisons from 2013. Pat Turner questioned the decline in sales
tax; Finance Director Moten - Dedrick stated that posting normally runs 2 months behind, also noting that it
was dependent upon the timing of the deposits.
Motion: To approve the minutes as presented. Action: Approve, Moved By: Pat Turner, Seconded By:
Mike Johnson.
Motion Passed Unanimously
V. STAFF ANNOUNCEMENTS /REPORTS
A. Link Street, Burger King, Popeye's Ribbon Cutting
Bob Hart stated that Jack Thompson was planning a ribbon cutting ceremony for Popeye's and Burger King
and will combine the ribbon cutting with the dedication of Link Street with Commissioner Andy Nguyen. The
target date is in March. Additionally, he added that the Dixie House Cafe had expressed interest in the old
Showtime building.
B. TIP Sidewalk Project
Bob Hart informed the Board that the Kennedale Parkway Sidewalk project was under construction, with
some curb repairs underway; he estimated that the project should be complete by the end of August.
C. Village Creek Studies
Hart stated that the City completed contracts for the Village Creek Flood Control Study with the Corps of
Engineers, and with UTA for water quality testing. Pat Turner questioned the future project funding source;
Hart replied that 80% was core funding (FEMA and the EPA) and 20% was local funding. It was noted that
the UTA contract was funded by the City thought the Storm Water Budget. Bob Hart concluded that the flood
control study project would take approximately two and a half years to complete.
D. Kabosi Properties
Director Hart stated that H2O Plumbing Supply based out of McKinney / Lewisville are interested in
expanding their business and have expressed interest in this property. Bob noted that they have a good
history at their other locations and would employee 6 -8 people at the Kennedale location.
E. Chamber Update
Jack Thompson provided updates of Chamber activities, highlighting the Chambers increase in membership
renewals. Additionally, he stated that a total of seventeen attended Legislative Day in Austin on February 10
and they held their Ambassador Retreat with eleven representatives. Thompson reminded everyone that the
Chamber was still seeking sponsorships until the end of the month for ribbon cutting baskets and new
resident welcome packets.
President Mundy recessed the meeting into executive session at 12:37 p.m.
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, lease, or value of real property
1. Town Center Development
2. 1298 Kennedale Parkway
3. 5414 High Ridge Road
4. Industrial Prospect
VII. RECONVENE INTO OPEN SESSION, AND TAKE ACTION NECESSARY PURSUANT TO
EXECUTIVE SESSION, IF NEEDED
President Mundy reopened the regular session at 1:29 p.m.
No Action required pursuant to executive session. Mundy noted that the next regular scheduled meeting
would be held March 12, 2015, at 12:00 p.m.
VIII. ADJOURNMENT
Motion Adjourn. Action Adjourn, Moved By Becky Mowell, Seconded By Mark Yeary.
Motion passed Unanimously
The meeting was adjourned at 1:31 PM
APPROVED:
President Robert Mundy
ATTEST:
Deputy City Secretary Kathy E. Moore
Date: March 12, 2015
Agenda Item No: REGULAR ITEMS - A.
I. Subject:
Review and accept the KEDC Financial Report for January 2015.
11. Originated by:
Sakura Moten - Dedrick, Director of Finance & IT
III. Summary:
The January 2015 EDC Financial Reports will be emailed on Tuesday, March 10, 2015.
IV. Recommendation:
Approve
V. Alternative Actions:
VI. Attachments:
F-A
KENNEDALE
Kennedale Economic
Development nned a . Staff Report to the Board of Directors
c om
vaww cityoflt
Date: March 12, 2015
Agenda Item No: REGULAR ITEMS - B.
I. Subject:
Discuss and consider action for approval of Economic Development Corporation Independent
Auditor's Report for year ended September 30, 2014.
11. Originated by:
Sakura Moten- Dedrick, Director of Finance & IT
III. Summary:
The auditor's opinion on the financial statements for the year ended September 30, 2014 is that the
statements present fairly, in all material respects, the respective financial position of the
governmental activities, the business -type activities, the discretely - presented component unit, each
major fund, and the aggregate remaining fund information of the Kennedale Economic Development
Corporation (KEDC) as of September 30, 2014. The statements also present the respective changes in
financial position and cash flows, where applicable, and the budgetary comparison for major fund -
types, thus demonstrating the KEDC end of year financial report is in conformity with the Generally
Accepted Accounting Principles (GAAP) as provided by the Governmental Accounting Standard Boards
(GASB) of America.
Our auditors will be present to review their findings with the Board, as well as provide bound copies
of the report.
IV. Recommendation:
Approve
V. Alternative Actions:
Staff recommends Directors accept and approve the Independent Auditor's Report as presented by
Patillo, Brown, & Hill, LLP.
VI. Attachments:
1. F '13 -14 EDC Draft Audit 12014 Draft EDC Audit.pdf
KENNEDALE ECONOMIC
DEVELOPMENT CORPORATION
ANNUAL FINANCIAL REPORT
SEPTEMBER 30, 2014
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
TABLE OF CONTENTS
SEPTEMBER 30, 2014
Page
Nunibei-
Independent Auditors' Report ............. ... . ............, ......... .. 1-2
Management's Discussion and Analysis .............................. ........ ............................... 3-6
Basic Financial Statements:
Statement of Net Assets and Governmental Fund Balance Sheet ....... ............................... 7
Statement of Activities and Governmental Fund Revenues,
Expenditures and Changes in Fund Balance ..................................... ............................... 8
Statement of Revenues, Expenditures and Changes in
Fund Balances — Budget and Actual — General Fund ....................... ............................... 9
Notesto Financial Statements .............................................................. ............................... 10-16
161
PATTILLO, BROWN & HILL, L.L.P.
CERTIFIED PUBLIC ACCOUNTANTS ■ BUSINESS CONSULTANTS
INDEPENDENT AUDITORS' REPORT
To the Board of Directors,
Of Kennedale Economic Development Corporation
Kennedale, Texas
Report on the Financial Statements
We have audited the accompanying financial statements of the governmental activities and major
fund of Kennedale Economic Development Corporation (the "Corporation "), a component unit of the
City of Kennedale, Texas, as of and for the year ended September 30, 2014, and the related notes to the
financial statements, which collectively comprise the Corporation's basic financial statements as listed in
the table of contents,
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements
in accordance with accounting principles generally accepted in the United States of America; this
includes the design, implementation, and maintenance of internal control relevant to the preparation and
fair presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors' Responsibility
Our responsibility is to express opinions on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and
disclosures in the financial statements. The procedures selected depend on the auditor's judgment,
including the assessment of the risks of material misstatement of the financial statements, whether due to
fraud or error. In making those risk assessments, the auditor considers internal control relevant to the
entity's preparation and fair presentation of the financial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also
includes evaluating the appropriateness of accounting policies used and the reasonableness of significant
accounting estimates made by management, as well as evaluating the overall presentation of the financial
statements.
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HOUSTON, TX
NVACO, TX
1 I 5 South Church St.
281.671,6259
254.772.4901
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Hillsboro, Toxae 76645
1110 CRANDF, VALI,F.Y, 'rX
254,582.2583
956.544.7778
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Governmental Audit
WWW,phhepa.num
TFI►1PLF., TX
505.266.5904
Quality Center
254,791,3460
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our audit opinions.
Opinions
In our opinion, the financial statements referred to above present fairly, in all material respects,
the respective financial position of the governmental activities and major fund of the Corporation, as of
September 30, 2014, and the respective changes in financial position for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Change in Accounting Principle
As discussed in Note 1 to the Financial Statements, in 2014 the City adopted new accounting
guidance, GASB Statement No. 65, Items Previously Reported as Assets and Liabilities. Our opinion in
not modified with respect to this matter.
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the
management's discussion and analysis on pages 3 through 6 be presented to supplement the basic
financial statements. Such information, although not a part of the basic financial statements, is required
by the Governmental Accounting Standards Board, who considers it to be an essential part of financial
reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in
accordance with auditing standards generally accepted in the United States of America, which consisted
of inquiries of management about the methods of preparing the information and comparing the
information for consistency with management's responses to our inquiries, the basic financial
statements, and other knowledge we obtained during our audit of the basic financial statements. We do
not express an opinion or provide any assurance on the information because the limited procedures do
not provide us with sufficient evidence to express an opinion or provide any assurance.
March 5, 2015
2
MANAGEMENT'S DISCUSSION AND ANALYSIS
As management of the Kennedale Economic Development Corporation, we offer readers of the
Kennedale Economic Development Corporation financial statements, this narrative overview, and
analysis of the financial activities of the Kennedale Economic Development Corporation for the fiscal
year ended September 30, 2014. We encourage readers to consider the information presented here in
conjunction with additional information that we have furnished in the accompanying basic financial
statements.
FINANCIAL HIGHLIGHTS
• The assets of the Kennedale Economic Development Corporation exceeded its
liabilities at the close of the most recent fiscal year by $5,220,834.
• The Kennedale Economic Development Corporation's net position increased by
$262,913. The increase was due to decreases in miscellaneous income from the sale
of property and sales tax revenue. This was offset by the increase in administration
expenses primarily due to depreciation and a decrease in rental income.
+► As of the close of the current fiscal year, the Kemnedale Economic Development
Corporation's governmental fund reported an ending fund balance of $376,090, an
increase of $781,855 in comparison with the prior year. The increase is primarily
related to the sale of property in the current year.
• At the end of the current fiscal year, the restricted fund balance for the General Fund
was $376,090.
OVERVIEW OF THE FINANCIAL STATEMENTS
The discussion and analysis is intended to serve as an introduction to the Kennedale Economic
Development Corporation's basic financial statements. The Kennedale Economic Development
Corporation's basic financial statements comprise three components: 1) government -wide financial
statements, 2) fund financial statements, and 3) notes to the financial statements. This report also
contains other supplementary information in addition to the basic financial statements.
Government -wide financial statements. The government -wide financial statements are designed
to provide readers with a broad overview of the Kennedale Economic Development Corporation's
finances, in a manner similar to a private- sector business.
The statement of net position presents information on all of the Kennedale Economic Development
Corporation's assets and liabilities, with the difference between the two reported as net position. Over
time, increases or decreases in net position may serve as a useful indicator of whether the financial
position of the Kennedale Economic Development Corporation is improving or deteriorating.
3
The statement of activities presents information showing how the government's net position changed
during the most recent fiscal year. All changes in net position are reported as soon as the underlying
event giving rise to the change occurs, regardless of the timing of related cash flows. Thus, revenues
and expenses are reported in these statements for some items that will only result in cash flows in future
fiscal periods (e.g., uncollected taxes). Both the statement of net position and the statement of activities
are prepared utilizing the accrual basis of accounting as opposed to the modified accrual basis used in
prior reporting models.
Governmental activities — Most of the Corporation's basic expenditures are reported here, including
administrative and incentive grants. Sales taxes and investment earnings finance these activities.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control
over resources that have been segregated for specific activities or objectives. The Kennedale Economic
Development Corporation uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements.
The Corporation uses the following fund type:
Governmental funds. Governmental funds are used to account for essentially the same functions
reported as governmental activities in the government -wide financial statements. However, unlike the
government -wide financial statements, governmental fund financial statements focus on near -term
inflows and outflows of spendable resources, as well as balances of spendable resources available at the
end of the fiscal year. Such information may be useful in evaluating a government's near -term
financing requirements.
Because the focus of governmental funds is narrower than that of the government -wide financial
statements, it is useful to compare the information presented for govermmental funds with similar
information presented for governmental activities in the government -wide financial statements. By
doing so, readers may better understand the long -tern impact of the government's near -term financing
decision. Both the governmental fund balance sheet and the governmental fund statement of revenues,
expenditures, and changes in fund balances provide a reconciliation to facilitate this comparison
between governmental funds and governmental activities.
The Kennedale Economic Development Corporation maintains one individual governmental fund.
Information is presented separately in the governmental fund balance sheet and in the governmental
fund statement of revenues, expenditures, and changes in fund balances for the General Fund, which is
considered to be a major fund.
The Kennedale Economic Development Corporation adopts an annual appropriated budget for its
governmental fiend. A budgetary comparison statement has been provided for General Fund component
unit to demonstrate compliance with the budget.
Notes to the financial statements. The notes provide additional information that is essential to a
full understanding of the data provided in the government -wide and fund financial statements. The
notes to the financial statements can be found in the financial section.
4
GOVERNMENT -WIDE FINANCIAL ANALYSIS
As noted earlier, over time, net position may serve as a useful indicator of the Corporation's financial
position. In the case of the Kennedale Economic Development Corporation, assets exceeded liabilities
by $5,220,834 at the close of the most recent fiscal year.
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION'S NET POSITION
Govermnental Activities
2014 2013
Current assets $ 394,344 $ 275,105
Capital assets 6,330,481 6,930,383
Total assets 6,724,825 7,205,488
Current liabilities
18,254
658,233
Noncurrent liabilities
1,485,737
1,566,697
Total liabilities
1,503,991
2,224,930
Net position:
$ 339,515
Rental Income
Net investment in capital assets
4,844,744
5,363,686
Unrestricted
376,090
( 383,128)
Total net position
$ 5,220,834
$ 4,980,558
The Corporation's net position increased by $262,913 during the current fiscal year. This increase is
primarily due to increases in sales tax and miscellaneous income offsetting the increase in administration
expenses.
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION'S
CHANGES IN NET POSITION
1
Governmental Activities
2014
2013
General Revenues:
Sales tax
$ 377,959
$ 339,515
Rental Income
149,950
199,990
Miscellaneous income
601,337
117,255
Investment earnings
49
612
Total general revenues
1,129,295
657,372
Expenses:
Economic development:
Administration
624,286
322,345
Payment to city for debt
155,119
151,619
Interest and fiscal charges
86,977
89,233
Total expenses
866,382
563,197
Changes in net assets
262,913
94,175
Net assets, beginning
4,980,558
4,886,383
Prior period adjustment
(22,637
-
Net assets,, ending
$ 5,220,834
$ 4,980,558
1
Governmental activities. The Corporation's general revenues increased by $878,681 or 133.67% from
last year. The increase was due to an increase in miscellaneous income due to the sale of land. Sales tax
revenue increased by $38,444 or 11.32% to $377,959.
DISCUSSION OF CURRENTLY KNOWN FACTS, DECISIONS OR CONDITIONS IN FISCAL
YEAR 2014
The Kennedale Economic Development Corporation's projects for the fiscal year and beyond include:
1) Securing development agreements with the racetracks providing for the orderly conversion to
residential subdivisions, 2) Opening two fast food restaurants in the Oak Crest development, 3) Securing
a commitment from a hotel developer for the Oak Crest development, 4) Continuing the development of
the Kennedale TownCenter, and 5) Identifying potential tracts of land to acquire, consolidate, clear and
resell for light manufacturing uses.
REQUESTS FOR INFORMATION
The financial report is designed to provide a general overview of the Kennedale Economic Development
Corporation's finances for all those with an interest in the government's finances. Questions concerning
any of the information provided in this report or requests for additional financial information should be
addressed to the Treasurer, Kennedale Economic Development Corporation, 405 Municipal Dr.,
Kennedale, Texas 76060.
6
BASIC
FINANCIAL STATEMENTS
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
STATEMENT OF NET POSITION
AND GOVERNMENTAL FUND BALANCE SHEET
SEPTEMBER 30, 2014
General Adjustments
ASSETS
394,344
Cash and investments
$ 336,568 $ -
Sales taxes receivable
55,464 -
Accounts receivable
2,312 -
Capital assets:
-
Land
- 1,340,853
Buildings and improvements
- 5,697,832
Construction in progress
- 171,641
Less: accumulated depreciation
- ( 879,845
Total capital assets
- 6,330,481
Total assets
394,344
6,330,481
LIABILITIES
Accounts payable
3,355
-
Customer deposits
14,899
-
Noncurrent liabilities:
Due within one year
-
87,147
Due in more than one year
-
1,398,590
Total liabilities
18,254
1,485,737
FUND BALANCE/NET POSITION
Fund balance:
Restricted for economic development
376,090
( 376,090)
Total fund balance
376,090
( 376,090)
Total liabilities and fund balance
$ 394,344
Net position:
Invested in capital assets, net of related debt
4,844,744
Restricted for economic development
376,090
Total net position
$ 5,220,834
The accompanying notes are an integral part of these financial statements.
7
Statement of
Net Assets
$ 336,568
55,464
2,312
1,340,853
5,697,832
171,641
879,845)
6,330,481
6,724,825
3,355
14,899
87,147
1,398,590
1,503,991
4,844,744
376,090
$ 5,220,834
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
STATEMENT OF ACTIVITIES
AND GOVERNMENTAL FUND REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCE
FOR THE YEAR ENDED SEPTEMBER 30, 2014
The accompanying notes are an integral part of these financial statements.
8
Statement
General
Adjustments
of Activities
Expenditures /expenses:
Current:
Economic development
$ 431,142
$ 193,144
$ 624,286
Payment to city for debt
155,119
-
1 S 5,119
Debt service:
Principal
80,961
( 80,961)
-
Interest and fiscal charges
86,976
1
86,977
Total expenditures /expenses
754,198
112,184
866,382
General revenues:
Sales taxes
377,959
4
377,959
Rental income
149,950
149,950
Miscellaneous income
1,008,095
( 406,758)
601,337
Investment earnings
49
49
Total general revenues
1,536,053
(_ 406,758
1,129,295
Excess of revenues over expenditures
781,855
( 518,942
262,913
Net change in fiend balance
781,855
( 781,855)
-
Change in net position
-
262,913
262,913
Fund balance /net position:
Beginning
( 405,765)
5,386,323
4,980,558
Prior period adjustment
-
( 22,637
( 22,637)
Ending
$ 376,090
$ 4,844,744
$ 5,220,834
The accompanying notes are an integral part of these financial statements.
8
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
I
COMPONENT UNIT - GENERAL FUND
i
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL
FOR THE YEAR ENDED SEPTEMBER 30, 2014
(With Comparative Actual Amounts for the Year Ended September 30, 2013)
Ei
f
2014 2013
REVENUES
Sales tax
Rental income
Miscellaneous income
Investment earnings
Total revenues
EXPENDITURES
Current:
Economic development
Payment to city for debt
Debt Service:
Principal
Interest and fiscal charges
Total expenditures
NET CHANGE IN FUND BALANCES
FUND BALANCES, BEGINNING
FUND BALANCES, ENDING
Variance with
Final Budget
Budgeted Amounts Actual Positive Actual
Original Final Amounts (Negative) Amounts
$ 328,940
$ 328,940
$ 377,959
$ 49,019
$ 339,515
174,940
174,940
149,950
( 24,990)
199,990
600,000
600,000
1,008,095
408,095
117,255
697
697
49_
( 648
612
L104,577
1,104,577
1,536,053
431,476
657,372
451,470
459,182
431,142
28,040
952,303
155,118
155,118
155,119
( 1)
151,619
99,171
91,459
80,961
10,498
71,954
87,016
87,016
86,976
40
89,233
792,775
792,775
754,198
38,577
1,265,109
311,802
311,802
781,855
470,053
( 607,737)
405,765)
{ +105,765
{ 405,765
-
201,972
$( 93,963 )
$( 93 93
$ 376,090
$ 470,053
$( 405,765
The accompanying notes are an integral part of these financial statements.
9
KENNEDALE ECONOMIC DEVELOPMENT CORPORATION
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2014
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of Kennedale Economic Development Corporation (the "Corporation ")
have been prepared in conformity with generally accepted accounting principles ( "GAAP ") for
local governmental units. The Governmental Accounting Standards Board ( "GASB ") is the
accepted standard- setting body for establishing governmental accounting and financial reporting
principles. GASB's jurisdiction includes nonprofit corporations that are in substance part of a
governmental unit. The most significant accounting and reporting policies of the Corporation are
described in the following notes to the financial statements.
A. Reporting Entity
The Kennedale Economic Development Corporation (KEDC) was incorporated on December
2, 1996. The Corporation is a nonprofit corporation organized and operating under the laws
of the State of Texas, particularly Section 4B of the Development Corporation Act of 1979,
as amended and Article 5190.6, Vernon's Texas Civil Statutes, (the "Act "), as amended. The
Corporation was created following an election held by the City of Kennedale, Texas (the
"City "), on August 10, 1996, to levy 0.5% local sales and use tax in the City for the benefit
of the Corporation. The Corporation, as currently organized, is to promote economic
development within the City, including, but not limited to, construction, operation and
administration, as permitted by Section 4B of the Act, as amended. The Corporation is a
discretely presented component unit of the City under the provisions of Governmental
Accounting Standards Board Statement No. 61.
As required by generally accepted accounting principles, these financial statements present
the Kennedale Economic Development Corporation and do not include any component units,
entities for which the Corporation is considered to be financially accountable. The
Corporation did not have any entities which meet the component unit criteria. Therefore, the
reporting entity is limited to those departments which comprise the Corporation's legally
adopted jurisdiction. However, the Corporation is considered to be, and is reported as, a
component unit of the City.
B. Government -wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net position and the
statement of activities) report information on all of the activities of the government.
Governmental activities are supported by taxes, rent and investment revenue.
10
The statement of activities demonstrates the degree to which the direct expenses of a given
function are offset by program revenue. Direct expenses are those that are clearly
identifiable with a specific function. Program revenue includes 1) charges to customers or
applicants who purchase, use, or directly benefit from goods, services, or privileges provided
by a given function, and 2) grants and contributions that are restricted to meeting the
operational or capital requirements of a particular function. Taxes and other items not
properly included among program revenue are reported instead as general revenue.
The government -wide and fund financial statements are provided for the governmental fund
of the Corporation with a column for adjustments between the two statements.
C. Measurement Focus, Basis of Accounting and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources
measurement focus and the accrual basis of accounting. Revenue is recorded when earned
and expenses are recorded when a liability is incurred, regardless of the timing of related
cash flows.
Governmental fund financial statements are reported using the current financial resources
measurement focus and the modified accrual basis of accounting. Revenues are recognized
as soon as they are both measurable and available. Revenues are considered to be available
when they are collectible within the current period or soon enough thereafter to pay liabilities
of the current period. For this purpose, the Corporation considers revenues to be available if
they are collected within 60 days of the end of the current period. Expenditures generally are
recorded when a liability is incurred, as under accrual accounting.
Interest income associated with the current fiscal period is considered to be susceptible to
accrual and so has been recognized as revenue of the current fiscal period. All other revenue
items are considered to be measurable and available only when cash is received by the
Corporation.
The Corporation reports the following major governmental fund:
The General Fund is the government's primary operating fund. It accounts for
all financial resources of the Corporation. There are no other funds of the
Corporation.
D. Assets, Liabilities and Net Assets or Equity
Cash and Investments
The City of Kennedale, Texas, pools substantially all cash and investments except for
separate cash and investment accounts which are maintained in accordance with legal
restrictions. The Corporation participates in the City's cash and investment pool.
Investments are recorded at fair value. Fair value is the amount at which a financial
instrument could be exchanged in current transactions between willing parties. Investment
income on investments is allocated to the Corporation based upon its pro rata participation in
the pool.
11
Long -term Obligations
In the government -wide financial statements, long -term debt and other long -term obligations
are reported as liabilities in the governmental activities statement of net position. Bond
premiums and discounts are deferred and amortized over the life of the bonds using the
effective interest method. Bonds payable are reported net of the applicable bond premium or
discount.
In the fund financial statements, governmental fund types recognize bond premiums and
discounts during the current period. The face amount of debt issued is reported as other
financing sources. Premiums received on debt issuances are reported as other financing
sources while discounts on debt issuances are reported as other financing uses.
Net Position
Net positions represent the difference between assets, deferred inflows /outflows of resources
and liabilities. Net investment in capital assets consists of capital assets, net of accumulated
depreciation, reduced by the outstanding balances of any borrowing used for the acquisition,
construction or improvements of those assets, and adding back unspent proceeds. Net position
is reported as restricted when there are limitations imposed on their use either through the
enabling legislations adopted by the District or through external restrictions imposed by
creditors, grantors or laws or regulations of other governments.
2. STEWARDSHIP, COMPLIANCE AND ACCOUNTABILITY
Budgetary Information
The Economic Development Board of Directors and the City Council of the City of Kennedale,
Texas, follow these procedures in establishing budgets reflected in the financial statements:
1. Prior to the beginning of each fiscal year, the Executive Director submits a
proposed budget to the Corporation's Board of Directors for the fiscal year
beginning on the following October 1. The operating budget includes proposed
expenditures and means of financing them.
2. Public hearings are conducted at which all interested persons' comments
concerning the budget are heard.
3. The budget is legally enacted by the Corporation's Board of Directors and ratified
by the City Council of the City.
4. The Board of Directors and the City Council must approve any budget
amendments. At the end of each fiscal year, all appropriations lapse.
5. Annual budgets adopted for the Economic Development Fund are adopted on a
basis consistent with generally accepted accounting principles.
12
3. DETAIL NOTES
A. Cash and Investments
The Public Funds Investment Act (Government Code Chapter 2256) contains specific
provisions in the areas of investment practices, management reports and establishment of
appropriate policies. Among other things, it requires the Corporation to adopt, implement,
and publicize an investment policy. That policy must address the following areas: (1) safety
of principal and liquidity, (2) portfolio diversification, (3) allowable investments, (4)
acceptable risk levels, (5) expected rates of return, (6) maximum allowable stated maturity of
portfolio investments, (7) maximum average dollar- weighted maturity allowed based on the
stated maturity date for the portfolio, (8) investment staff quality and capabilities, and (9) bid
solicitation preferences for certificates of deposit. Statutes authorize the Corporation to
invest in (1) obligations of the U. S. Treasury, certain U. S. Agencies, and the State of Texas;
(2) certificates of deposit, (3) certain municipal securities, (4) money market savings
accounts, (5) repurchase agreements, (6) bankers' acceptances, (7) Mutual Funds, (8)
Investment pools, (9) guaranteed investment contracts, and (10) common trust funds. The
Act also requires the Corporation to have independent auditors perform test procedures
related to investment practices as provided by the Act. The Corporation is in substantial
compliance with the requirements of the Act and with local policies
In compliance with the Public Funds Investment Act, the Corporation has adopted the
deposit and investment policy used by the City of Kennedale. That policy does address the
following risks:
a. Custodial Credit Risk - Deposits: In the case of deposits, this is the risk that, in the event
of a bank failure, the government's deposits may not be returned to it. As of September
30, 2014, all of the Corporation's deposits were in the TexPool accounts held by the City
of Kennedale.
b. Credit Risk; It is the Corporation's policy to limit investments to investment types with
an investment quality rating no lower than AAA or AAA -m or an equivalent rating by at
least one nationally recognized rating service or no lower than investment grade by at least
one nationally recognized rating service with a weighted average maturity no greater than
90 days. The Corporation's investments were rated AAAm by Standard and Poor's
Investors Services.
c. Interest Rate Risk: In accordance with the Corporation's investment policy, the
Corporation manages its exposure to declines in fair values by limiting the weighted
average maturity of its investment portfolio to 90 days or less, dependent on market
conditions.
d. Concentration of Credit Risk: The Corporation's investment policy states the maximum
percentage allowed for each different investment instrument that can be used to make up
the portfolio.
13
At September 30, 2014, the carrying amounts of the Corporation's investments were as
follows:
Balances in public funds investment pools:
State Treasurer's Investment Pool (TexPool) 336,568
$ 336,568
Balances in public funds investment pools noted above are not evidenced by underlying
securities that exist in physical or book entry form and, therefore, are not subject to credit
risk categorization.
B. Risk Management
The City of Kennedale, Texas, carries its general insurance risks with a public entity risk
pool by transferring all risks to the insurance carrier except for small deductible amounts.
C. Employee Plans
The Corporation has no employees. The personnel duties for the Corporation are performed
by employees of the City of Kennedale, and the Corporation is charged for expenses related
to these duties. For complete "Employee Plan" disclosures, reference is made to the basic
financial statements of the City of Kennedale, Texas.
14
D. Capital Assets
Capital asset activity for the year ended September 30, 2014, was as follows:
Primary Government
Less accumulated depreciation:
Buildings
Improvements
Total accumulated depreciation
Total capital assets, being depreciated, net
Governmental activities capital assets, net
E. Lontr -term Debt
468,922 234,007 - 702,929
126,031 50,885 - 176,916
594,953 284,892 - 879,845_
2,229,089 2,588,898 4,817,987
$ 6,930,383 $ 2,680,646 $ 3,280,548 $ 6,330,481
During fiscal year 2011, a loan was issued for $1,700,000 for the purpose of financing new
projects in addition to the revenue bonds issued fiscal year 2007 of $1,200,000 also for the
purpose of financing new projects. Revenue bonds and loans outstanding at year end are as
follows:
Beginning
Ending
Ending
Balance
Increases
Decreases
Balance
Governmental activities:
Capital assets, not being depreciated:
$ 990,000 $ -
$ 45,000
$ 945,000
$ 50,000
Land
$ 1,703,328
$ 44,283 $
406,758
$ 1,340,853
Construction in progress
2,997,966
47,465
2,873,790
171,641
Total capital assets not being depreciated
4,701,294
91,748
3,280,548
1,512,494
Capital assets, being depreciated:
Buildings
1,937,215
2,742,924
-
4,680,139
Improvements
886,827
130,866
-
1,017,693
Total capital assets being depreciated
2,824,042
2,873,790
-
5,697,832
Less accumulated depreciation:
Buildings
Improvements
Total accumulated depreciation
Total capital assets, being depreciated, net
Governmental activities capital assets, net
E. Lontr -term Debt
468,922 234,007 - 702,929
126,031 50,885 - 176,916
594,953 284,892 - 879,845_
2,229,089 2,588,898 4,817,987
$ 6,930,383 $ 2,680,646 $ 3,280,548 $ 6,330,481
During fiscal year 2011, a loan was issued for $1,700,000 for the purpose of financing new
projects in addition to the revenue bonds issued fiscal year 2007 of $1,200,000 also for the
purpose of financing new projects. Revenue bonds and loans outstanding at year end are as
follows:
15
Beginning
Ending
Due Within
Balance Additions
Reductions
Balance
One Year
Government activities
Revenue bonds
$ 990,000 $ -
$ 45,000
$ 945,000
$ 50,000
Texas leverage fund loan
576,697 -
35,960
540,737
37,147
Governmental activity
Long -term liabilities
$ 1,566,697 $ -
$ 80,960
$ 1,485,737
$ 87,147
15
Annual debt service requirements to maturity for the revenue bonds are as follows:
Year Ending
Governmental Activities
September 30
Principal
Interest
2015
$ 87,147
$ 82,701
2016
88,373
78,001
2017
94,638
73,260
2018
100,946
68,130
2019
102,297
62,609
2020 -2024
608,357
221,673
2025 -2029
403,979
45,925
Total
$ 1,485,737
$ 632,299
F. Prior Period Adjustment - Change in Accounting Principle
As a result of implementing GASB Statement 65, the Corporation has decreased beginning
net position as of September 1, 2013 by $22,637 for the governmental activities. This
decrease results from no longer deferring and amortizing bond issuance costs.
16
Date: March 12, 2015
Agenda Item No: STAFF ANNOUNCEMENTS /REPORTS - A.
I. Subject:
Link Street, Burger King, Popeye's Ribbon Cutting
B. TIP Sidewalk Project
C. Village Creek Studies
D. Chamber Update
11. Originated by:
Bob Hart
III. Summary:
The Director will provide an update on these items.
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
Date: March 12, 2015
Agenda Item No: EXECUTIVE SESSION - A.
I. Subject:
The Economic Development Corporation will meet in closed session pursuant to Section 551.072 of
the Texas Government Code to deliberate the purchase, lease, or value of real property
1. Town Center Development
2. 733 Kennedale Parkway Business Incentives
3. 5414 Highridge Road
4. Industrial Prospect for Bloxom Park
5. 1298 Kennedale Parkway Business Incentives
11. Originated by:
Bob Hart
III. Summary:
These items will be discussed during the Executive Session.
IV. Recommendation:
V. Alternative Actions:
VI. Attachments:
KENNEDALE
You're Here,Your Home
The following pages
contain documents that
were submitted or
presented during the
meeting.
JAN 2015 ECONOMIC DEVELOPMENT CORPORATION FINANCIALS
Budget/Amendment
No changes.
Year -To -Date
• Ad Valorem Tax: Increase in comparison over this time last year. Based on tax receipts
received from assessments.
• Sales/Beverage Tax: Increase in comparison over this time last year (see Monthly Graph, 3-
Year Historical Graph, 10 -Year Historical Graph). Please note, sales tax receipts run two
months in arrears.
• Investment Earnings: Increase in comparison over this time last year. Based on record low
earning rates and decrease in cash balance.
• Miscellaneous Income: Increase in comparison over this time last year.
• Surplus Sales /Rentals: Decrease in comparison over this time last year. Approximately $8400
a month lost due to Surplus Warehouse closure beginning Feb 2014.
• Transfers: No significant change over this time last year.
• Personnel: No significant change over this time last year.
• Supplies: No significant change over this time last year.
• Maintenance: Increase in comparison over this time last year. Due in part to landscaping
materials.
• Sundry: Increase in comparison over this time last year. Additional $2,000 per month Chamber
Management Fee (on top of $3,500 Orasi consulting service fee, $550 website
maintenance /hosting fee).
• Debt: Increase in comparison over this time last year. Based on amortization schedules.
• Transfers: Decrease in comparison over this time last year.
• Capital: Increase in comparison over this time last year. Payment of taxes on prior land
purchases.
Estimate
For FY13 /14, the final audited ending fund balance is $376,090 which is comprised of $226,739
operations / $29,429 capital bond project / $119,922 reserve bond.
For FY14 /15, the combined anticipated ending fund balance is $493,842 which is comprised of
$369,455 operations / $4,449 capital bond project / $119,938 reserve bond.
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
INCOME STATEMENT
IS: EDC4BFUND
"EXEMPLIFYING EXCELLENCE"
FY13 -14
FY13 -14
FY13 -14
FY13 -14
FY14 -15
FY14 -15
FY14.15
FY14.15
CY -PY
INCOME STATEMENT
BUDGET
AMENDED
YTD JAN
ACTUAL PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
OPERATING REVENUES
1,103,880
1,103,880
86,430
1,536,006
901,665
901,665
139,573
901,047
(202,215)
OPERATING EXPENDITURES
(612,657)
(612,657)
(93,212)
(599,078)
(595,193)
(595,193)
(118,993)
(604,848)
17,464
OPERATING INCOME /(LOSS)
491,223
491,223
(6,782)
936,927
306,472
306,472
20,580
296,199
(184,751)
NONOPERATING REVENUES /(EXPENSES)
INTEREST EARNINGS
645
645
3
12
4
4
13
35
(641)
TRANSFERS IN
-
-
-
-
-
-
-
-
-
(TRANSFER OUT)
(155,118)
(155,118)
(37,559)
(155,119)
(153,519)
(153,519)
(36,759)
(153,519)
1,599
NET OPERATING INCOME /(LOSS)
336,750
336,750
(44,339)
781,820
152,958
152,958
(16,166)
142,716
(183,792)
BEGINNING FUND BALANCE
$ (306,400)
$ (555,081)
$ (555,081)
$ (555,081) $
223,526
$ 226,739
$ 226,739
$ 226,739
778,607
ENDING FUND BALANCE (EXCLUDING OTHER FUNDS)
$ 30,350
$ (218,331)
$ (599,420)
$ 226,739 $
376,484
$ 379,697
$ 210,573
$ 369,455
594,815
95:EDC4B RESERVE FUND
$ 119,966
$ 119,955
$ 119,906
$ 119,922 $
119,935
$ 119,938
$ 119,929
$ 119,938
(20)
19: EDC48 CAPITAL BOND FUND
$ 13,357
$ 4,411
$ 29,422
$ 29,429 $
4,451
$ 4,449
$ 29,431
$ 4,449
40
ENDING FUND BALANCE (INCLUDING OTHER FUNDS)
$ 163,673
$ (93,965)
$ (450,092)
$ 376,090 $
500,870
$ 504,084
$ 359,933
$ 493,842
$ 594,834
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FUND SUMMARY BY CATEGORY
15: EDC4B FUND
REVENUES OVER EXPENDITURES $ 336,750 $ 336,750 $ (44,339) $ 781,820 $ 152,958 $ 152,958 $ (16,166) $ 142,716
ENDING FUND BALANCE $ 30,350 $ (218,331) $ (599,420) $ 226,739 $ 376,484 $ 379,697 $ 210,573 $ 369,455
ADJUSTMENTS
FUND BALANCE AS %OF EXP 4.0% -28.47. - 458.4% 30.1% 50.37o 50.77. 135.2% 48.7%
RESERVE (NO REQUIREMENT) $ - $ - $ - $ - $ - $ - $ - $ -
RESERVE SURPLUS /(SHORTFALL) $ 30,350 $ (218,331) $ (599,420) $ 226,739 $ 376,484 $ 379,697 $ 210,573 $ 369,455
"EXEMPLIFYING EXCELLENCE"
FY13.14
FYI 3-14
FY13 -14
FY13.14
FY14.15
FYI 4-15
FY14 -15
FY14 -15
CY - PY
FY13 -14
FY14.15
CATEGORY
BUDGET
AMENDED
YTD JAN
ACTUAL
PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
YTD %
YTD
BEGINNING FUND BALANCE
$ (306,400)
$ (555,081)
$ (555,081)
$ (555,081)
$ 223,526
$ 226,739
$ 226,739
$ 226,739
$ 323,848
AD VALOREM TAXES
23,132
23,132
5,478
52,329
48,062
48,062
35,322
48,062
24,930
23.7%
73.5%
SALES /BEVERAGE TAXES
305,808
305,808
31,943
325,630
334,791
334,791
52,506
334,173
28,983
10.4%
15.7%
INVESTMENT EARNINGS
645
645
3
12
4
4
13
35
(641)
0.4%
319.07.
MISCELLANEOUS INCOME
600,000
600,000
15,960
1,008,096
384,120
384,120
22,750
384,120
(215,880)
2.7%
5.9%
SURPLUS SALES /RENTALS
174,940
174,940
33,049
149,950
134,692
134,692
28,996
134,692
(40,248)
18.9%
21.5%
TRANSFERS
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
0.0%
0.0%
TOTAL REVENUES
$ 1,104,525
$ 1,104,525
$ 86,433
$ 1,536,017
$ 901,669
$ 901,669
$ 139,586
$ 901,082
5 (202,856)
7.8%
15.57o
PERSONNEL
-
-
-
-
-
-
-
-
0.0%
0.07.
SUPPLIES
3,100
3,100
-
-
3,100
3,100
-
3,100
0.0%
0.0%
MAINTENANCE
30,240
30,240
3,773
26,036
23,592
23,592
8,899
23,592
(6,648)
12.57.
37.7%
SUNDRY
213,130
317,742
34,127
345,865
201,629
201,629
48,196
204,744
(116,113)
10.7%
23.9%
DEBT
186,187
178,475
52,421
167,937
186,872
186,872
55,358
186,872
8,397
29.4%
29.6
TRANSFERS
155,118
155,118
37,559
155,119
153,519
153,519
36,759
153,519
(1,599)
24.27.
23.9%
CAPITAL
180,000
83,100
2,891
59,239
180,000
180,000
6,540
186,540
96,900
3.5%
3.6%
TOTAL EXPENDITURES
$ 767,775
$ 767,775
$ 130,771
$ 754,197
$ 748,712
$ 748,712
$ 155,752
$ 758,367
$ (19,063)
17.0%
20.8%
REVENUES OVER EXPENDITURES $ 336,750 $ 336,750 $ (44,339) $ 781,820 $ 152,958 $ 152,958 $ (16,166) $ 142,716
ENDING FUND BALANCE $ 30,350 $ (218,331) $ (599,420) $ 226,739 $ 376,484 $ 379,697 $ 210,573 $ 369,455
ADJUSTMENTS
FUND BALANCE AS %OF EXP 4.0% -28.47. - 458.4% 30.1% 50.37o 50.77. 135.2% 48.7%
RESERVE (NO REQUIREMENT) $ - $ - $ - $ - $ - $ - $ - $ -
RESERVE SURPLUS /(SHORTFALL) $ 30,350 $ (218,331) $ (599,420) $ 226,739 $ 376,484 $ 379,697 $ 210,573 $ 369,455
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE LINE ITEM SUMMARY
15: EDC4B FUND
ACCOUNT
ACCOUNTNAME
FY13.14
BUDGET
FY13.14
AMENDED
FY13.14
YTD JAN
FY13.14
ACTUAL
FY14 -15
PROPOSED
FY14.15
AMENDED
FY14 -15
YTD JAN
FY14 -15
ESTIMATE
CY - PY
CHANGE
FY13.14
YID%
FY14 -15
YTD%
4001 -00-W
PROPERTY TAX - CURRENT YEAR
-
-
-
-
-
-
-
-
-
0.07.
0.0%
40020000
MMDTAX- CURRENT YEAR
23,132
23,132
5,478
52,329
48.062
48,062
35,322
48.062
24,930
23.7%
73.57.
319.07.
AD VALOREM TAXES
$ 23,132
$ 23,132
$ 5,478
$ 52,329
$ 48,062
$ 48,062
$ 35,322
$ 48,062
$ 24,930
23.77.
73.57.
4081 -00-00 SALES TAX
305,808
305.808 31,943
325,630
334,791
334,791 52506
334,173
28,983
10.4%
15.7%
4082 -00-00 MIXED BEVERAGE TAX
8,500 81500
49
4,859
8,500
8,500
-
-
0.07.
0.0%
SALES /BEVERAGE TAXES
$ 305,808
$ 305,808 $ 31,943
$ 325,630
$ 334,791
$ 334,791 $ 52,506
$ 334,173 $
28,983
10.4%
15.7%
4401 -00-00 INVESTMENT INCOME
645
645 3
12
4
4 13
35
(641)
0.4%
319.07.
INVESTMENT EARNINGS
$ 645
$ 645 $ 3
$ 12
$ 4
$ 4 $ 13
$ 35 $
(641)
0.4%
319.0%
4409 -00-00 MISCELLANEOUS INCOME 600,000 600,000 4,018 989,468 384.120 384,120 22,750 384.120 (215,880) 0.7% 5.9%
4411 -00-00 TEXAS LEVERAGE FUND PROGRAM - - - - - - - - - 0.0% 0.0
4415 -00-00 INSURANCE REIMBURSEMENTS 11,943 18,628 - - #DIV /01 0.07.
MISCELLANEOUS INCOME $ 600,000 $ 600,000 $ 15,960 $1,008,096 $ 384,120 $ 384,120 $ 22,750 $ 384,120 $ (215,880) 2.7% 5.9%
4805 -00-00 RENTAL FEES - SHOPPING CENTER
166,440 166,440
33,000
145,091
126,192
126,192
28,922
126,192 (40,248)
19.8%
22.97.
4806 -00-00 RENTAL INSURANCE
8,500 81500
49
4,859
8,500
8,500
73
8,500 -
0.6%
0.97.
SURPLUS SALES /RENTALS
$ 174,940 $ 174,940
$ 33,049
$ 149,950
$ 134,692
$ 134,692
$ 28,996
$ 134,692 $ (40,248)
18.97.
21.5%
4902-00-00 PROCEEDS -DEBT /LOAN /LEASE
-
- -
0.0
0.0%
TRANSFERS
$ - $ -
$ -
$ -
$ •
$ •
$ -
$ - $
0.07.
0.0%
TOTAL REVENUES $1,104,525 $1,104,525 $ 86,433 $1,536,017 $ 901,669 $ 901,669 $139,586 $ 901,082 $ (202,856) 7.87. 15.5%
TOTAL REVENUES (EXCLUDING INTEREST/TRANSFERS) $1,103,880 $1,103,880 $ 74,487 $1,517,378 $ 901,665 $ 901,665 $139,573 $ 901,047 $ (202,215)
107. ADMIN CHARGE - GENERAL FUND 110.388 110,388 7,449 151,738 90,167 90,167 13,957 94105 (20221)
"EXEMPLIFYING EXCELLENCE"
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CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC46 FUND
01: ADMINISTRATION
FY13 -14 FY13.14 FY13 -14 FY13 -14 FY14 -15 FY14 -15 FY14 -15 FY14.15 CY -PY FY13.14 FY14.15
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD % YTD %
5101 -01 -00
SALARIES
0.07.
0.07.
5107 -01-00
OVERTIME - - - - - - - -
- 0.07.
0.0%
5111 -01-00
AUTO ALLOWANCE
0.0%
0.0 1 /
5114 -01-00
LONGEVITY
0.0
0.0 1 /
5115 -01-00
RETIREMENT - - - - - - - -
- 0.07
0.0 1 /
5116 -01 -00
UNEMPLOYMENT INSURANCE
0.07.
0.07.
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 1 y
5122 -01-00
VISION INSURANCE
0.0 1 y
O.W.
5190-01 -00
VACATION /SICK/TERM/LEAVE ADJ - - - - -
- 0.0
0.07.
PERSONNEL $ - $ - $ - $ $ - $ - $ $ - $
- 0.0%
0.0%
5220-01 -00
UNIFORMS
-
-
-
-
-
0.0%
0.0%
5240-01 -00
PRINTED SUPPLIES
3,000
3,000
3,000
3,000
3,000
0.0 1 y
0.0 1 y
5260-01 -00
GENERAL OFFICE SUPPLIES
50
50
-
-
50
50
-
50
-
0.0
0.0 1 y
5261 -01 -00
POSTAGE
50
50
50
50
50
0.0 1 y
0.07.
5280-01 -00
MINOR EQUIP /SMALLTOOLS<$5K
-
-
-
-
-
0.0
0.07.
5290-01 -00
EXPENDABLE SUPPLIES
-
-
-
-
0.0%
0.0%
SUPPLIES
$
3,100
$ 3,100
$ - $
-
$ 3,100
$ 3,100
$ -
$ 3,100
$
0.0%
0.0%
5403-01 -00
BUILDING MAINTENANCE
-
-
-
-
-
-
285
-
-
0.0% #DIV /01
5440-01 -00
OFFICE EQUIP /SOFTWARE MAINT
0.0 1 y
0.0%
MAINTENANCE
$
-
$ -
$ - $
$ -
$ -
$ 285
$ -
$ -
0.0% #DIV /01
5501 -01 -00
ADVERTISING
3,616
1,200
1,200
-
1,200
1,200
0.0 1 y
0.0
5510-01 -00
ASSOC DUES /PUBLICATIONS
3,150
3,150
3,614
4,020
4,020
905
4,020
870
0.0%
22.57.
5512 -01 -00
CONTRACTUAL SERVICES
-
-
-
-
-
-
-
-
-
0.07.
0.07.
5525 -01-00
TRAINING /SEMINARS
1,000
1,000
-
250
250
250
(750)
0.07.
0.0%
5565-01 -00
LEGALSERVICES
5,000
5,000
250
1,000
1,000
1,000
(4,000)
0.0%
0.0 1 y
5567 -01-00
AUDITSERVICES
2,000
2,000
2,000
2,000
2,000
2,000
2,000
100.0%
0.0
5569 -01 -00
IT SUPPORT
-
-
-
-
-
-
-
0.0
0.0 1 /
5570-01 -00
SPECIAL SERVICES
51,600
51,600
12,150
56,485
72,600
72,600
24,200
72,600
21,000
23.5%
33.3%
5575-01-00
EQUIPMENT RENTAL
-
-
-
-
-
-
-
-
-
0.0 1 y
0.0 1 y
5578-01 -00
TRAVEL
700
700
-
100
100
-
100
(600)
0.0%
0.0 1 y
5580-01 -00
ENGINEERING SERVICES
10,000
10,000
12,855
1,000
1,000
4,115
4,115
(9,000)
0.0%
411.5%
5585-01 -00
TELEPHONE SERVICES
-
-
-
-
-
-
-
-
0.0%
0.07
5595-01 -00
ADMIN CHARGE-GENERAL FUND
110,386
215,000
213,607
90,167
90,167
6,859
90,167
(124,833)
0.0%
7b%
SUNDRY
$
183,838
$ 288,450
$ 14,150 $
292,428
$ 172,337
$ 172,337
$ 36,079
$ 175,452
$ (116,113)
4.9%
20.9%
5610-01 -00
VISUAL GRANT
-
-
-
-
-
-
-
0.0%
0.0%
5615-01 -00
FUNCTIONAL GRANT
0.0 1 y
OA%
5625-01 -00
ISSUANCE COST
0.07.
0.0%
DEBT
$
$
$ $
$
$
$
$
$
0.0%
0.0%
5701 -01-00
TRANSFER OUT- GENERAL FUND
-
-
-
-
-
-
-
-
-
0.0 1 /
0.0
5714 -01-00
TRANSFER OUT- DEDICATION FUND
-
-
-
-
-
-
-
-
-
0.0 1 y
0.0 1 /
5795-01 -00
TRANSFER OUT -EDC RESERVE FUND
-
-
-
-
-
-
-
-
0.07.
0.0%
TRANSFERS
$
$
S $
$
S
S
$
$
0.0%
0.0%
5806-01 -00
LAND
48,100
2,891
47,182
6,540
6,540
(48,100)
6.0%
#DIV /01
5813-01 -00
KENNEDALE ENTRANCE SIGN
-
-
-
-
-
-
-
-
-
0.0%
0.0
5820-01 -00
BUILDING IMPROVEMENT
-
-
-
-
-
-
-
-
-
0.0%
0.07.
5875 -01 -00
CONSTRUCTION
-
-
-
-
-
-
-
0.0%
0.09
CAPITAL
$
$ 48,100
$ 2,891 $
47,182
$
$
$ 6,540
$ 6,540
$ (48,100)
6.0%
#DIV /01
TOTAL EXPENDITURES
$
186,938
$ 339,650
$ 17,041 $
339,610
$ 175,437
$ 175,437
$ 42,905
$ 185,092
$ (164,213)
48.7%
5.0%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE REM SUMMARY
15:EDC48FUND
01: ADMINISTRATION
03: DEBT SERVICE
"EXEMPLIFYING EXCELLENCE"
FY13.14
FY13.14
FY13 -14
FY13.14
FY14 -15
FY14 -15
FY14 -15
FY14.15
CY- PY
FY13 -14
FY14 -15
ACCOUNT
ACCOUNT NAME
BUDGET
AMENDED
YTD JAN
ACTUAL
PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
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
68,806
68,806
34,364
68,766
65,678
65,678
32,787
65,678
(3,129)
49.9%
49.9%
5644 -01 -03
2007 $1.2M TAX BOND- PRINCIPAL
45,000
45,000
-
45,000
50,000
50,000
-
50,000
5,000
0.0 1 y
0.0
5645 -01 -03
2011$1.7MTXLEVERAGE -IM
18,210
18,210
6,208
18,218
17,024
17,024
7,240
17,024
(1,186)
34.1%
42.5%
5646-01 -03
2011 $1,7M TX LEVERAGE-PRI
54,171
46,459
11,849
35,953
54,171
54,171
15,332
54,171
7,712
25.57.
28.3%
DEBT
$ 186,187
$ 178,475
$ 52,421
$ 167,937
$ 186,872
$ 186,872
$ 55,358
$ 186,872
$ 8,397
29.4%
29.6%
0.0%
0.0%
5702 -01 -03
TRANSFER OUT -DEBT SERVICE FUND
155,118
155,118
37,559
155,119
153,519
153,519
36,759
153,519
(1,599)
24.2%
23.9%
TRANSFER
$ 155,118
$ 155,118
$ 37,559
$ 155,119
$ 153,519
$ 153,519
5 36,759
$ 153,519
$ (1,599)
24.2%
23.9%
TOTAL EXPENDITURES
$ 341,305
$ 333,593
$ 89,980
$ 323,056
$ 340,391
$ 340,391
$ 92,117
$ 340,391
$ 6,798
27.0%
27.1%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
02: TOWN SHOPPING CENTER
FY13 -14 FY13.14 FY13 -14 FY13 -14 FY14.IS FY14.15 FY14 -15 FY14.15 CY - PY FY13.14 FY14 -15
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD % YTD %
5280-02 MINOR EQUIP /SMALLTOOLS <$5K - - - - - - - 0.0% 0.07
SUPPLIES $ - $ - $ - $ - $ - $ - $ $ - $ - 0.0% 0.0%
5403-02-00 BUILDING MAINTENANCE 30,240 30,240 3,773 26,036 23,592 23,592 8,614 23,592 (6,648( 12.57. 36.5%
MAINTENANCE $ 30,240 $ 30,240 $ 3,773 $ 26,036 $ 23,592 $ 23,592 $ 8,614 $ 23,592 $ (6,648) 12.5% 36.5%
5501 -02-00
ADVERTISING
0.0 1 y
0.0
5510 -02-00
ASSOC DUES /PUBLICATIONS
0.0%
0.0 1 y
5512 -02 -00
CONTRACTUAL SERVICES
-
-
-
-
-
-
-
-
- 0.0
0.07.
5530 -02-00
ELECTRIC SERVICES
5
5,000
663
4,439
5,000
5,000
11005
5,000
13.3%
20.1%
5545 -02-00
INSURANCE - PROPERTY
8,500
8,500
10,075
10,075
8,500
8,500
6,347
8,500
118.5%
74.7%
5565 -02-00
LEGALSERVICES
-
-
-
-
-
-
-
-
- 0.0 1 /
0.0%
5570 -02-00
SPECIAL SERVICES
15,792
15,792
3,623
16,371
15,792
15,792
4,764
15,792
22.9%
30.2%
SUNDRY
$ 29,292 $
29,292
$ 14,361 $
30,885 $
29,292 $
29,292
$ 12,117 $
29,292 $
- 49.0%
41.4%
TOTAL EXPENDITURES $ 59,532 $ 59,532 $ 18,134 $ 56,922 $ 52,884 $ 52,884 $ 20,730 $ 52,884 $ (6,648) 30.5% 39.2%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
03: TOWN CENTER REDEVELOPMENT
"EXEMPLIFYING EXCELLENCE"
FY13.14
FY13.14
FY13 -14
FY13.14 FY14 -15
FY14.15
FY14 -15
FY14 -15
CY- PY
FY13.14
FY14.15
ACCOUNT
ACCOUNT NAME
BUDGET
AMENDED
YTD JAN
ACTUAL PROPOSED
AMENDED
YID JAN
ESTIMATE
CHANGE
YTD %
YTD %
5570 -03-00
SPECIALSERVICES
-
-
-
- -
-
-
-
-
0.0 1 /
0.07
5579-0300
ARCHITECT /DESIGN SERVICES
-
-
-
- -
-
-
-
-
0.07.
0.0 1 y
5580 -03-00
ENGINEERING SERVICES
0.07.
0.07
SUNDRY
$
$
$
$ $
S
$
$
$
0.07.
0.0%
5800 -0300
LAND
0.095
0.0 1 y
5847 -0300
CONSTRUCTION
30.000
30,000
30,000
30.000
30,000
0.0
0.0 1 y
CAPITAL
$ 30,000
$
$
$ $ 30,000
$ 30,000
$
$ 30,000
$ 30,000
0.0%
0.0%
$ 30,000
$
$
$ $ 30,000
$ 30,000
$
$ 30,000
$ 30,000
0.0%
0.0%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
EXPENDITURE LINE ITEM SUMMARY
15: EDC4B FUND
04: TEXAS LEVERAGE PROGRAM
FY13.14 FY13.14 FY13.14 FY13.14 FY14.15 FY14.15 FY14.15 FY14.15 CY- PY FY13.14 FY14.15
ACCOUNT ACCOUNTNAME BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD% YTD%
5580 -04-00 ENGINEERING SERVICES 5,616 22,552 - - - #DIV /01 401.6
SUNDRY $ - $ - $ 5,616 $ 22,552 $ - $ - $ - $ - $ - 0.0% 0.0%
5615-04-00 FUNCTIONALGRANT - - - - - - - - - 0.0% 0.0%
5620-04-00 ISSUANCE COSTS 0.0% 0.0%
DEBT $ - $ $ - $ $ $ $ - $ - $ - 0.07. 0.0%
5800-04 -00 LAND 150,000 35,000 - 12,057 150,000 150,000 - 150,000 115,000 #DIV /01 142.8%
5847 -04-00 CONSTRUCTION 0.07. 0.0
CAPITAL $ 150,000 $ 35,000 $ - $ 12,057 $ 150,000 $ 150,000 $ $ 150,000 $ 115,000 100.77. 142.8%
$ 150,000 $ 35,000 $ 5,616 $ 34,609 $ 150,000 $ 150,000 $
$ 150,000 $ 115,000 111.9% 156.6%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FUND SUMMARY BY CATEGORY
19: EDC4B CAPITAL BOND FUND
RESERVE (NO REQUIREMENT) $ - $ - $ - $ - $ - $ - $ - $
RESERVE SURPLUS /(SHORTFALL) $ 13,357 $ 4,411 $ 29,422 $ 29,429 $ 4,451 $ 4,449 $ 29,431 $ 4,449
"EXEMPLIFYING EXCELLENCE'
FY13 -14
FY13.14
FY13 -14
FY13 -14
FY14 -15
FY14 -15
FY14 -15
FY14 -15
CY - PY
FY13 -14
FY14 -15
CATEGORY
BUDGET
AMENDED
YTD JAN
ACTUAL
PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
YTD %
YTD %
BEGINNING FUND BALANCE $
38,357
$ 29,411
$ 29,411
$ 29,411
$ 29,431
$ 29,429
$ 29,429
$ 29,429
INVESTMENT EARNINGS
-
-
10
18
20
20
2
20
20
#DIV /01
11.6%
TRANSFERS
-
-
-
-
-
-
-
0.0%
0,0%
TOTAL REVENUES $
$
$ 10
$ 18
$ 20
$ 20
$ 2
$ 20
$ 20
#DIV /01
11.6%
MAINTENANCE
-
-
-
-
-
-
-
0.0%
0.0%
SUNDRY
-
-
-
0.0%
0.0%
CAPITAL
25,000
25,000
25,000
25,000
25,000
0.0%
0.0 %,
TOTAL EXPENDITURES $
25,000
$ 25,000
$
$ -
$ 25,000
$ 25,000
$
$ 25,000
$
0.0%
0.0%
REVENUES OVER EXPENDITURES $
(25,000)
$ (25,000)
$ 10
$ 18
$ (24,980)
$ (24,980)
$ 2
$ (24,980)
ENDING FUND BALANCE $
13,357
$ 4,411
$ 29,422
$ 29,429
$ 4,451
$ 4,449
$ 29,431
$ 4,449
ADJUSTMENTS
FUND BALANCE AS % EXP
53.4%
17.6%
N/A
N/A
17.8%
17.8%
N/A
17.8%
RESERVE (NO REQUIREMENT) $ - $ - $ - $ - $ - $ - $ - $
RESERVE SURPLUS /(SHORTFALL) $ 13,357 $ 4,411 $ 29,422 $ 29,429 $ 4,451 $ 4,449 $ 29,431 $ 4,449
"EXEMPLIFYING EXCELLENCE'
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE /EXPENDITURE LINE REM SUMMARY
19: EDC4B CAPITAL BOND FUND
ACCOUNT ACCOUNT NAME
FY13 -14
BUDGET
FY13 -14
AMENDED
FY13 -14
YTD JAN
FY13 -14
ACTUAL
FY14.15
PROPOSED
FY14 -15
AMENDED
FY14.15
YTD JAN
FY14 -15
ESTIMATE
CY- PY FY13.14
CHANGE YTD %
FY14 -15
YTD %
4401-00 -00 INVESTMENT INCOME
FY14.15
ACCOUNT ACCOUNT NAME
10
18
20
20
2
20
20 #DIV /01
11.6%
INVESTMENT EARNINGS
$ -
$ -
$ 10
$ 18
$ 20
$ 20
$ 2
$ 20
$ 20 #DIV /01
11.6%
4913-00-00 TRANSFER IN- CAPITAL BOND FUND
-
0.0%
MAINTENANCE
$
-
- 0.0
0.09
TRANSFERS
$ -
$ -
$ -
$ •
$ -
$ •
$ -
$ -
$ - 0.0%
0.0%
TOTAL REVENUES
$ -
$ -
$ 10
$ 18
$ 20
$ 20
$ 2
$ 20
$ (250) #DIV /01
11.6%
19: EDC46 CAPITAL BOND FUND
01: TOWN CENTER REDEVELOPMENT
"EXEMPLIFYING EXCELLENCE"
FY13 -14
FY13 -14
FY13 -14
FY13.14
FY14.15
FY14.15
FY14 -15
FY14.15
CY - PY
FY13 -14
FY14.15
ACCOUNT ACCOUNT NAME
BUDGET
AMENDED
YTD JAN
ACTUAL
PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
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
0.07
0.0%
5579 -01-00 ARCHITECT /DESIGN SERVICES
-
-
-
-
-
-
-
-
-
0.07.
0.0%
5580 -01-00 ENGINEERING SERVICES
0.07.
0.0%
SUNDRY
$
-
$ -
$
$ -
$
$ -
$
$ -
$ -
0.0%
0.0%
5800-01-00 LAND
0.0%
0.0 1 y
5847 -01-00 CONSTRUCTION
25,000
25,000
25,000
25,000
25,0D
0.07
0.07.
CAPITAL
$
25,000
$ 25,000
$ -
$ -
$ 25,000
$ 25,000
$ -
$ 25,000
$ -
0.0%
0.0%
TOTAL EXPENDITURES
$
25,000
$ 25,000
$ -
$ -
$ 25,000
$ 25,000
$ -
$ 25,000
$ -
0.0%
0.0%
"EXEMPLIFYING EXCELLENCE"
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
FUND SUMMARY BY CATEGORY
95: EDC413 RESERVE FUND
FY13 -14 FY13 -14 FY13 -14 FY13 -14 FY14 -15 FY14.15 FY14 -15 FY14 -15 CY - PY FY13 -14 FY14 -15
CATEGORY BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD % YTD %
BEGINNING FUND BALANCE $ 119,914 $ 119,903 $ 119,903 $ 119,903 $ 119,919 $ 119,922 $ 119,922 $ 119,922
INVESTMENT EARNINGS 52 52 3 19 16 16 7 16 (36) 5.6% 41.9%
TRANSFERS - - - - - - - - - 0.0% 0.07.
TOTAL REVENUES $ 52 $ 52 $ 3 $ 19 $ 16 $ 16 $ 7 $ 16 $ (36) 5.6% 41.9%
TRANSFERS - 0.0% 0.0%
TOTAL EXPENDITURES $ $ $ $ $ $ $ $ $ 0.0% 0.0%
REVENUES OVER EXPENDITURES
$ 52
$ 52
$ 3
$ 19
$ 16
$ 16
$ 7
$ 16
ENDING FUND BALANCE
$ 119,966
$ 119,955
$ 119,906
$ 119,922
$ 119,935
$ 119,938
$ 119,929
$ 119,938
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)
$ 7,360
S 7,349
S 7,300
$ 7,316
S 7,329
S 7,332
$ 7,323
$ 7,332
"EXEMPLIFYING EXCELLENCE'
CITY OF KENNEDALE, TEXAS
ANNUAL PROGRAM OF SERVICES
REVENUE /EXPENDITURE LINE REM SUMMARY
95: EDC4B RESERVE FUND
95: EDC4B RESERVE FUND
FY13 -14 FY13 -14 FY13 -14 FY13 -14 FY14 -15 FY14 -15 FY14 -15 FY14 -15 CY - PY FY13 -14 FY14 -15
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD % YTD %
5715 -00-00 TRANSFER OUT -EDC FUND 0.0% 0.0%
TRANSFERS $ $ $ $ S $ $ $ $ 0.0% 0.0%
TOTAL EXPENDITURES $ $ $ $ $ $ $ $ $ 0.0% 0.0%
D
"EXEMPLIFYING EXCELLENCE"
FY13 -14
FY13 -14
FY13.14
FY13.14
FY14 -15
FY14.15
FY14 -15
FYI 4-15
CY - PY
FY13 -14
FY14 -15
ACCOUNT ACCOUNT NAME
BUDGET
AMENDED
YTD JAN
ACTUAL
PROPOSED
AMENDED
YTD JAN
ESTIMATE
CHANGE
YTD %
YTD %
4401 -00 -00 INVESTMENT INCOME
52
52
3
19
16
16
7
16
(36)
5.6%
41.9%
INVESTMENT EARNINGS
$ 52
$ 52
$ 3
$ 19
$ 16
$ 16
$ 7
$ 16
$ (36)
5.6%
41.9%
4915-00 -00 TRANSFER IN -EDC FUND
-
-
-
-
-
-
-
-
-
0.05V
0.0
4920 -00-00 TRANSFER IN
0.0
0.07.
OTHER AGENCY
$
$
$
$
$
$
$
$
S
0.0%
0.0%
TOTAL REVENUES
$ 52
$ 52
$ 3
$ 19
$ 16
$ 16
$ 7
$ 16
$ (36)
5.6%
41.9%
95: EDC4B RESERVE FUND
FY13 -14 FY13 -14 FY13 -14 FY13 -14 FY14 -15 FY14 -15 FY14 -15 FY14 -15 CY - PY FY13 -14 FY14 -15
ACCOUNT ACCOUNT NAME BUDGET AMENDED YTD JAN ACTUAL PROPOSED AMENDED YTD JAN ESTIMATE CHANGE YTD % YTD %
5715 -00-00 TRANSFER OUT -EDC FUND 0.0% 0.0%
TRANSFERS $ $ $ $ S $ $ $ $ 0.0% 0.0%
TOTAL EXPENDITURES $ $ $ $ $ $ $ $ $ 0.0% 0.0%
D
"EXEMPLIFYING EXCELLENCE"