HomeMy WebLinkAboutResolution - 2013-R0324 - Approve North And East Lubbock CD Corp. Budget FY 2013-14 - 09/26/2013Resolution No. 2013-RO324
September 26, 2013
Item No. 5.24
RESOLUTION
WHEREAS, the North and East Lubbock Community Development Corporation
("NELCDC") is a charitable, tax-exempt corporation that was created in February 2004
to spur growth and investment in the target area of the City of Lubbock, Texas; and
WHEREAS, City of Lubbock currently provides operational funding for the
NELCDC; and
WHEREAS, the City Council of the City of Lubbock, Texas, approved the FY
2013-14 Operating Budget and Capital Program with Ordinance 2013-00087. on
September 10, 2013, with two hundred fifty-one thousand, sixty-eight dollars ($251,068),
to fund the NELCDC for fiscal year 2013-14; and
WHEREAS, the City Council of the City of Lubbock. Texas, entered into a Grant
Management Agreement with the NELCDC on September 26, 2013, which discussed the
allocations and conditions for the grants of municipal funds as provided by Ordinance
2013-00087; and
WHEREAS, the NELCDC Board of Directors approved a proposed budget for
Fiscal Year 2013-14, utilizing grants of municipal funds to operate its existing programs
and activities for housing and economic development within the north and east areas of
the City of Lubbock, Texas.
NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
THAT the Lubbock City Council hereby approves the North and East Lubbock
Community Development Corporation Budget for Fiscal Year 2013-14. Said Budget is
attached hereto and incorporated as if fully set forth herein.
Passed by the Lubbock City Council this 26th day of September , 2013.
ICWBEIRTSON.G MAYOR
ATTEST:
Reb cca Garza, City Secre
APPROVED AS TO CONTENT:
Quincy Whit sistant City Manager
APPROVED AS TO FORM:
a IU
Laur Pratt, Assistant City Attorney
Resolution - NELCDC Budget Approval FY2013-14
9/10113
Resolution NO. 2013-RO324
North and East Lubbock CDC
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0.25
0.20
C
O
E 0.15
cs
0 10
0.05
0.00
2008-09
COMPOSITION OF EXPENDITURES
2009-10 2010-11 2011-12 2012-13
c Capital Outlay a Other Charges ■ Professional Services•Training a Maintenance ■ Supplies ■ Benefits ■ Compensation
FUNDING SOURCES
Grant from the City of Lubbock
Total Revenue Sources
Utilization of Net Assets
TOTAL FUNDING SOURCES
Actual Actual Actual Amended
2009-10 FY 2010-11 FY 2011-12 FY 2012-13
- - 251,06
2013-14
fidget % Change
A13-14 from Amended
251,068 -
251,068 251,068
$ - - 251,068 251,068
Actual Actual Actual Amended
Budget % Change
EXPENSES
FY 2009-10 FY 2010-11 FY 2011-12 FY 2012-13
FY 2013-14 from Amended
Compensation
$ - - 130,000
130,000
Benefits
- - - 41,068
41,068 -
Supplies
- - 3,000
3,000 -
Maintenance
- - - 5,000
5,000 -
Professional Services/Training
53,000
53,000 -
Other Charges
- - - 17,000
17,000 -
Capital Outlay
- - - 2,000
2,000 -
TOTAL EXPENSES
$ - - - 251,068
251,068
EXHIBIT A
NELCDC Budget 2013-14
Salaries
$130,000
Benefits
24,000
Taxes
11,781
Car Allowance
5,287
Total Salaries
171,068
Office Supplies
3,000
Postage
3,000
Phone/Internet
6,000
Copier
4,000
Officer & Liability Insurance
4,000
Travel/Training
8,000
Audit
9,000
Legal
2,000
King's Dominion Maintenance
5,000
Board/Community Meetings
3,000
Membership Dues
1,000
Computer Equipment
2,000
Total Other Expenses
50,000
Credit Counseling 30,000
• Credit Reports
• Financial Literacy Training
Grand Total $251,068