ROLL CALL AND CALL TO ORDER BY PRESIDING OFFICER Board Members Scott Cain, President Robert Kelly, Vice President Chris Boedeker Mike Mann John Warren City Staff Steve Polasek, City Manager Ivy Peterson, Corporation Secretary Troy Lestina, Finance Director
CONSIDER APPROVAL OF MINUTES FOR THE AUGUST 13, 2019 REGULAR MEETING, AND THE APRIL 28, 2020 SPECIAL MEETING.
RESOLUTION 4A-08-2020-15 CONSIDER A RESOLUTION APPROVING THE TYPE A ECONOMIC DEVELOPMENT CORPORATION SALES TAX FUND BUDGET FOR FISCAL YEAR 2021. [Presented by Troy Lestina, Director of Finance] Summary Statement: Authorized for implementation by municipalities under the Texas Development Corporation Act of 1979 (Title 12 Subtitle C1, of the Texas Local Government Code), the ½ cent Cleburne Type A Corporation [aka 4A] sales tax was approved by Cleburne voters on November 3, 2015. This sales tax funds the payment of debt issued to finance construction of The Depot ballpark stadium at Cleburne Station and other associated expenses and the primary source of revenue is the ½-cent sales tax. The proposed fiscal year (FY) 2021 4A Sales Tax Corporation Fund budget includes projected total revenues of $3,072,500. The 4A Fund is anticipated to expend $2,601,389 in FY 2021, an increase of $3,616 from the prior FY budget due to a slight increase in operating costs. Proposed expenditures include stadium related costs to include maintenance, enhancements, utilities, insurance, communications, fire alarm monitoring and general supplies, and debt service costs ($2,452,468). The ending fund balance is expected to increase by $471,111 for FY 2021 to $5,625,259.
ROLL CALL AND CALL TO ORDER BY PRESIDING OFFICER Board Members Scott Cain, President Robert Kelly, Vice President Chris Boedeker Mike Mann John Warren City Staff Steve Polasek, City Manager Ivy Peterson, Corporation Secretary Troy Lestina, Finance Director
CONSIDER APPROVAL OF MINUTES FOR THE AUGUST 13, 2019 REGULAR MEETING, AND THE APRIL 28, 2020 SPECIAL MEETING.
RESOLUTION 4A-08-2020-15 CONSIDER A RESOLUTION APPROVING THE TYPE A ECONOMIC DEVELOPMENT CORPORATION SALES TAX FUND BUDGET FOR FISCAL YEAR 2021. [Presented by Troy Lestina, Director of Finance] Summary Statement: Authorized for implementation by municipalities under the Texas Development Corporation Act of 1979 (Title 12 Subtitle C1, of the Texas Local Government Code), the ½ cent Cleburne Type A Corporation [aka 4A] sales tax was approved by Cleburne voters on November 3, 2015. This sales tax funds the payment of debt issued to finance construction of The Depot ballpark stadium at Cleburne Station and other associated expenses and the primary source of revenue is the ½-cent sales tax. The proposed fiscal year (FY) 2021 4A Sales Tax Corporation Fund budget includes projected total revenues of $3,072,500. The 4A Fund is anticipated to expend $2,601,389 in FY 2021, an increase of $3,616 from the prior FY budget due to a slight increase in operating costs. Proposed expenditures include stadium related costs to include maintenance, enhancements, utilities, insurance, communications, fire alarm monitoring and general supplies, and debt service costs ($2,452,468). The ending fund balance is expected to increase by $471,111 for FY 2021 to $5,625,259.