HomeMy WebLinkAboutRES 082818-H - 2019 GEDCO BudgetRESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, ACCEPTING THE PROPOSED 2019
BUDGET FOR THE GEORGETOWN ECONOMIC DEVELOPMENT
CORPORATION (GEDCO).
WHEREAS, the City is required by State Law, the Bylaws of the Georgetown Economic
Development Corporation (GEDCO), previously established pursuant to Vernon's Rev. Civ.
Stat. Ann., Article 5190.6 Section 4(A) to approve an annual budget; and
WHEREAS, the appropriations were approved by the GEDCO Type A Board on June
18, 2018; and
WHEREAS, the budget is for the fiscal year beginning October 1, 2018 and ending
September 30, 2019;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim.
SECTION 2. The City Council of the City of Georgetown hereby accepts the proposed
2019 budget of the Georgetown Economic Development Corporation (GEDCO) for the twelve
month period beginning October 1, 2018 and ending September 30, 2019 in accordance with
State Law and the GEDCO Bylaws.
RESOLVED this 28 day of August, 2018.
ATTEST: THE CITY OF GEORGETOWN:
I
Shelley Nowf g By: Dale Ross
City Secretary- Mayor
APPROVED TO FORM:
Charles McNabb
City Attorney
Resolution No. OuD 0—A
Description: 2019 GEDCO Budget Resolution
Date Approved: August 28, 2018
Page 1 of 1
420 - GEDCO
Begi
6/12/2018 8:41:03 AM
6,853,073
Sales Tax 1,568,934
1,643,750,
1,693,750 1,768,275 I 1,768,275
Interest II 45,017
25,400
_ _ _
60,3001 40,300
Other ! 108,302
85,100
_40,300
97,000 - -
Grand Total 1,722,252
1,754,250
1,851,050. 1,808,575 1,808,575
ED Projects
1 203,209 �_
6,574,258
348,579
7,531,613
7,531,613
Allocations
19_7,724
221,328
221,328
238,622
238,622
Transfer Out
_ _
-
116,613
_
212,569 f
205,069
_
205,069 -
Operations
_
82,634
f
121,4081
150,040
130,550
130,550_
Debt Service
327,308
212,569
116,613
103,725
103,725
Grand Total
810,875
7,246,176.
1,049,129
8,209,579.
8,209,579
Budget
Projected
Budget
Ending Fund Balance
5,979,896
410,937
6,853,073
452,069.
452,069
CAFR Adjustment
71,256
-
-
-
___
Contingency Reserves
_
392,234
�^
410,937
423,438
442,069
- 442,069
Available Fund Balance
5,658,918
(0)
6,429,635
10,000
_� - 10,000