From
Finance Committee
Title
Resolution approving the proposed budget for FY 2017-2018 and amending the FY 2016-2017 budget
Presenter
Jim Swafford
Recommended Action
Approve
Analysis
The FY 2017-2018 Proposed Budget for the Sports Corporation is attached.
Financial Consideration
FY 2016-2017 Budget Amendment
Increase Interest Income $20,000
Decrease LSP Additional Rent $20,000
Move $7,059 from Legal Fees to Parking Lot Repair
FY 2017-2018 Budget
Increase LSP Base Rent $39,930
Increase Interest Income $5,000
Increase LSP Capital Expenditures by $69,686 of unspent prior year budgets
Body
A RESOLUTION APPROVING THE BUDGET OF THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC. (CORPORATION), ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2017 AND ENDING SEPTEMBER 30, 2018 (FY 2017-2018) AND AMENDING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2016 AND ENDING SEPTEMBER 30, 2017 (FY 2016-2017).
Whereas, the budget of the Corporation for FY 2016-2017 as approved by the Board of Directors (Board) on August 15, 2016, and
Whereas, the Board wishes to amend the FY 2016-2017 budget, and
WHEREAS, the proposed budget of the Corporation for FY 2017-2018 was presented to the Board on May 15, 2017
NOW THEREFORE, BE IT RESOLVED, by the GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC. that:
Section 1. the Board hereby amends the FY 2016-2017 budget as attached, and
Section 2. the Board hereby adopts the FY2017-2018 budget as attached.
PASSED AND APPROVED BY THE BOARD OF DIRECTORS OF THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC., AUGUST 14, 2017.