HomeMy WebLinkAbout02-24-2014 EDC MinutesEULESS DEVELOPMENT CORPORATION
BOARD OF DIRECTORS
MINUTES
February 24, 2014
The Board of Directors of the Euless Development Corporation met on Monday, February
24, 2014, in the Travis Room at the Texas Star Conference Centre, 1400 Texas Star
Parkway, Euless, Texas.
The following persons were in attendance:
Mayor Mary Lib Saleh, Chairman
Council Member Linda Martin, Vice Chairman
Council Member Tim Stinneford
Council Member Glenn Porterfield
Citizen Member Sonja Adams
Citizen Member Carmen Deithloff
Citizen Member Wayne Marrs
City Manager Gary McKamie, President
Deputy City Manager Loretta Getchell, First Vice President
Director of Economic Development Mike Collins, Second Vice President
Finance Director Janina Jewell, Treasurer
City Secretary Kim Sutter, Board Secretary
Assistant City Manager Chris Barker
Director of Parks and Community Services Ray McDonald
Library Administrator Sherry Knight
ITEM NO. 1. CALL TO ORDER
Chairman Mary Lib Saleh called the meeting to order at 5:45 p.m.
ITEM NO. 2 APPROVED MINUTES OF AUGUST 12, 2013, MEETINGS
Wayne Marrs motioned to approve the minutes of the August 12, 2013, meeting as
presented. Seconded by Tim Stinneford, the motion carried by a unanimous vote.
ITEM NO. 3 ACCEPTED ANNUAL AUDIT FOR FISCAL YEAR ENDING
SEPTEMBER 30, 2013,
Treasurer Janina Jewell introduced Sarah Dempsey, Senior Manager, Weaver LLC, who
presented the Financial Report for the Euless Development Corporation (EDC) for the
year ending September 30, 2013.
Ms, Dempsey stated that the audit was conducted in accordance with generally accepted
auditing standards and received an Unmodified Opinion, the highest level of assurance
possible. She further advised that no significant or material weaknesses were identified.
EDC Meeting Minutes Page 2 of 3 February 24, 2014
Linda Martin motioned to accept the Euless Development Corporation Independent
Auditor's Report from Weaver L.L.0 for the year ending September 30, 2013. Seconded
by Wayne Marrs, the motion carried unanimously.
ITEM NO. 4 REVIEWED FINANCIAL REPORT FOR THE QUARTER ENDING
DECEMBER 31, 2013.
Treasurer ,Janina Jewell reviewed the Financial Report for the quarter ending December
31, 2013, and stated that the sales tax collections through the end of December were
$1,026,708, which represents 25 percent of budget. She added that operating
expenditures were within budget at $891,390 or 18 percent of appropriations. She
advised that the year to date capital expenditures are $53,530, and include
expenditures associated with park enhancements, library furnishings, and building
refurbishments at 1100 Westpark Way.
The operating fund ending balance as of December 31, 2013, is $2,231,531.
The remaining balance in the capital projects fund for projects not yet completed is
$656,365. The designated balance consists of monies for the miscellaneous park
improvements, irrigation projects, incentives, contingencies, and phase 1V
improvements to the Texas Star Sports Complex.
balances of the followin funds:
Fund
Balance
Undesignated Capital Projects Fund
$416,028
Available for allocation to future
projects.
Debt Service Fund
$228,147
Available for debt payment
Debt Reserve Fund
(Reserve level $902,064)
$906,796
Excess over reserve to be
transferred to EDC operating fund
at the end of the fiscal year.
Sonja Adams motioned to accept the financial report for the quarter ending December 31,
2013. Seconded by Carmen Deithloff, the motion carried unanimously.
ITEM NO. 5 HEARD REPORTS ON CURRENT AND UPCOMING PROJECTS:
Director of Parks and Community Services Ray McDonald provided an update related to
the parks and community services projects:
- Status of Heritage Park painting
- Status of Villages of Bear Creek Dog Park lighting
- Delivery of portable Pickle Ball court
- Decorative lighting at McCormick Park
Opening of indoor pool
Library Administrator Sherry Knight presented a report related to library services:
- Purchase of Library furnishings
EDC Meeting Minutes Page 3 of 3 February 24, 2014
- Status of security camera upgrade
Replacement of Library AudioNisuai system
- Lobby wallpaper replacement
- Library materials
o E -books (over 800 items)
o Addition of Zinio and Tumblebooks
- Evaluation of and utilization of library floor space
Planning and Economic Development Director Mike Collins presented an economic
development updated:
., Multiple projects under evaluation by potential end users
- State Highway 121 update
• Chop House Burger
• Dave and Buster's
Mayor Mary Lib Saleh announced the planned installation of a new art piece at the Euless
Family Life Center Senior Center and the addition of a bronze statute at the recreation
center.
ITEM NO.6 ADJOURN
There being no further business before the Board, the meeting was adjourned at 6:08 p.m.
APPROVED:
ATTEST:
Linda artin Kim • utte
Chairman Secretary