From
Finance Committee
Title
Resolution approving the proposed budget for FY 2020-2021 and amending the FY 2019-2020 budget
Presenter
Jim Swafford
Recommended Action
Approve
Analysis
The FY 2020-2021 Proposed Budget for the Sports Corporation is attached.
Financial Consideration
FY 2019-2020 Budget Amendment
Decrease Additional Rent $55,000
Decrease Legal Fees $30,000
Increase Audit Fees $7,835
Decrease Travel $5,000
Decrease Maintenance for Bronze Statues $550
Decrease Contract services for Suite Coordinators $8,700
Increase Reimbursement to the City for Staff Support and Out of Pocket Exp
(Grand Prairie Metropolitan Utility Reclamation District PILOT FY19 Reimbursement) $151,160
FY 2020-2021 Budget
Increase Additional Rent $55,000
Increase Legal Fees $30,000
Decrease Audit Fees $7,335
Increase Travel $5,000
Increase Maintenance for Bronze Statues $550
Increase Contract services for Suite Coordinators $8,700
Decrease Reimbursement to the City for Staff Support and Out of Pocket Exp $151,160
Lone Star Capital expenditures of $500,000 are included in the budget. No projects have been identified at this time.
Decrease Veteran’s Memorial Park Shade Structure/Landscape Improvements $600,000
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, 2020 AND ENDING SEPTEMBER 30, 2021 (FY 2019-2020) AND AMENDING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2019 AND ENDING SEPTEMBER 30, 2020 (FY 2019-2020).
Whereas, the budget of the Corporation for FY 2019-2020 as approved by the Board of Directors (Board) on August 5, 2019, and
Whereas, the Board wishes to amend the FY 2019-2020 budget, and
WHEREAS, the proposed budget of the Corporation for FY 2020-2021 was presented to the Board on August 10, 2020
NOW THEREFORE, BE IT RESOLVED, by the GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC. that:
Section 1. the Board hereby amends the FY 2019-2020 budget as attached, and
Section 2. the Board hereby adopts the FY2020-2021 budget as attached.
PASSED AND APPROVED BY THE BOARD OF DIRECTORS OF THE GRAND PRAIRIE SPORTS FACILITIES DEVELOPMENT CORPORATION, INC., AUGUST 10, 2020.