ORD 2014-30TOWN OF TROPHY CLUB, TEXAS
ORDINANCE NO. 2014-30
AN ORDINANCE OF THE TOWN OF TROPHY CLUB, TEXAS
ADOPTING AND APPROVING THE BUDGET FOR THE FISCAL YEAR
BEGINNING OCTOBER 1, 2014 AND ENDING SEPTEMBER 30, 2015
FOR TROPHY CLUB ECONOMIC DEVELOPMENT CORPORATION 413,
AND MAKING APPROPRIATIONS FOR EACH PROJECT,
OPERATION, ACTIVITY, PURCHASE, ACCOUNT AND OTHER
EXPENDITURES; PROVIDING FOR EXPENDITURES AS ALLOWED
BY APPLICABLE LAW; PROVIDING FOR FILING OF DOCUMENTS;
REPEALING CONFLICTING ORDINANCES; PROVIDING A
SEVERABILITY CLAUSE; PROVIDING A SAVINGS CLAUSE;
PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the Town of Trophy Club (the "Town") is a home rule municipality
regulated by state law and Charter; and
WHEREAS, the Charter of the Town provides that the Town Manager shall
prepare a proposed budget for the Town annually and to submit that budget to Council;
and
WHEREAS, public notice of a public hearing on the proposed annual budget for
the Town and for EDC4B. a copy of the EDC413 budget being included as part of the
Town's annual budget, stating the date, time, and place and subject matter of the public
hearing, was given as required by the laws of the State of Texas and Town Charter; and
WHEREAS, the proposed budget for the Town of Trophy Club, Texas (the
"Budget") which has been filed with the Town Secretary is a Budget to cover all
proposed expenditures of the Town for the fiscal year beginning October 1, 2014, and
ending September 30, 2015 and includes the individual budget for Trophy Club
Economic Development Corporation 4B ("EDC 4B"); and
WHEREAS, the budget for EDC 4B shows as definitely as possible each of the
various projects for which appropriations are set up in the budget, shows the estimated
amount of money carried in the budget for each of such projects, and otherwise
complies with all requirements of the home rule Charter for the Town; and
WHEREAS, the Town Council has studied the budget of EDC4B and listened to
the comments received at the public hearing and has determined that the budget
attached hereto is in the best interest of the Town of Trophy Club.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
ORD 2014-30 Page 1 of 4
SECTION 1.
APPROVING THE BUDGET
The budget for EDC413 attached hereto as Exhibit "A" and incorporated herein
is approved and adopted for the fiscal year beginning October 1, 2014, and ending
September 30, 2015; and there is hereby appropriated from the funds indicated and for
such purposes, respectively, such sums of money for such projects, operations,
activities, purchases, accounts and other expenditures as proposed in the attached
budget for EDC413.
SECTION 2.
PROVIDING EMERGENCY EXPENDITURES
Pursuant to state law, no expenditure of the funds of the Town shall hereafter be
made except in compliance with the Budget and applicable state law; provided,
however, that in case of grave public necessity emergency expenditures to meet
unusual and unforeseen conditions, which could not by reasonable, diligent thought and
attention have been included in the original Budget, may from time to time be authorized
by the Town Council as amendments to the original Budget. Pursuant to Town Charter,
the Council may make emergency appropriations to address a public emergency
affecting life, health, property or the public peace.
SECTION 3.
BUDGET FILED
The Town Council shall cause to be filed a true and correct copy of the approved
budget for EDC413, along with this Ordinance, with the Town Secretary and in the office
of the County Clerk of Denton County, and Tarrant County, Texas. Additionally, a copy
of the budget shall be posted on the Town's internet website.
SECTION 4.
CONFLICT
Any and all ordinances, resolutions, rules or regulations in conflict with this
Ordinance are hereby repealed and rescinded to the extent of the conflict herewith.
SECTION 5.
SEVERABILITY
If any section, article, paragraph, sentence, clause, phrase or word in this
Ordinance or application thereof to any person or circumstance is held invalid or
unconstitutional by a Court of competent jurisdiction, such holding shall not affect the
validity of the remaining portions of this Ordinance, and the Town Council hereby
declares it would have passed such remaining portions of this Ordinance despite such
invalidity, which remaining portions shall remain in full force and effect.
SECTION 6.
SAVINGS
All rights and remedies of the Town of Trophy Club, Texas, are expressly saved
as to any and all provisions of any other Ordinance affecting budget requirements,
which have secured at the time of the effective date of this Ordinance.
SECTION 7.
ENGROSSMENT AND ENROLLMENT
The Town Secretary of the Town of Trophy Club is hereby directed to engross and
enroll this Ordinance by filing this Ordinance in the ordinance records of the Town as
required in the Town Charter.
SECTION 8.
EFFECTIVE DATE
This Ordinance shall be effective from and after its date of passage in
accordance with law, and it is so ordained.
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas, this 23�d day of September 2014.
ATTEST:
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Timmy ArdkTown Secretary
Town of Trophy Club, Texas
APPROVED AS TO FORM:
Patricia A. Adams, Town Attorney
Town of Trophy Club, Texas
Vj- ;'e ��'
C. Nick Sanders, Mayor
Town of Trophy Club, Texas
EXHIBIT "A"
EDC413 BUDGET
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70
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016
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ACTUAL .
....
A :, d ..
BUDGET
..ESTfMATE
PJtOP05ED :P.OJECrJED PRO ECTT,ED
Beginning Fund Balance
$ 299,715
$ 341,135
$ 382,709
$ 167,530
$ 188,704
$ 332,636
$ 335,248
$ 322,552
Revenue
Sales Tax - General
$ 123,374
$ 147,391
$ 246,997
$ 305,000
$ 319,311
$ 327,272
$ 335,431
$ 343,794
Advertising Revenue
-
13,850
-
-
-
-
-
-
NTX Magazine Revenue
-
-
-
3,938
-
-
-
Interest Income
362
-
-
100
100
300
450
600
Total Revenue
$ 123,737
$ 161,241
$ 246,997
$ 305,100
$ 323,349
$ 327,572
$ 335,881
$ 344,394
Expenditures
Auditing
$ 1,091
$ 1,000
$ 3,500
$ 1,000
$ 1,000
$ 1,000
$ 1,000
$ 1,000
Election
-
-
6,116
-
-
-
-
-
Advertising
787
12,952
2,910
16,500
5,800
3,000
7,200
9,400
Printing
-
-
-
1,000
250
500
500
500
Schools&Training
3,061
1,766
1,955
2,320
1,430
2,120
3,050
2,350
Dues & Membership
450
300
400
600
1,050
1,050
1,050
1,150
Travel & Per Diem
1,711
2,396
153
3,226
52
1,533
1,700
1,775
Office Supplies
-
872
523
1,000
700
400
500
500
Community Events
-
-
-
-
-
-
-
-
Miscellaneous Expense
2,523
2,983
12,427
6,750
4,025
7,100
7,450
9,450
EDC Projects
14,766
23,464
123,285
50,744
38,150
11,850
7,750
18,350
Incentive Programs
-
-
-
130,000
-
140,773
160,773
161,773
Transferto General Fund
31,683
47,151
55,200
71,996
71,996
155,634
157,604
159,633
Transferto Debt Service
26,246
26,783
234,533
54,964
54,964
-
-
-
Total Expenditures
$ 82,317
$ 119,667
$ 441,002
$ 340,100
$ 179,417
$ 324,960
$ 348,577
$ 365,881
Net Increase (Decrease)
$ 41,420
$ 41,574
$ (194,004)
$ (35,000) $ 143,932
$ 2,612
$ (12,696) $ (21,487)
Ending Fund Balance
$ 341,135
$ 382,709
$ 188,704
$ 132,530
$ 332,636
$ 335,248
$ 322,552
$ 301,065