Post on 02-Apr-2022
Winnsboro Economic Development
Regular Meeting
Tuesday, February 27, 2018
501 S. Main Street
5:30 PM
There may be a quorum of the Winnsboro City Council in attendance; therefore this clause serves as notice to avoid any violation of the Open Meeting Act.
1. CALL TO ORDER; WELCOME CITIZENS AND VISITORS; ESTABLISHMENT OF QUORUM
2. INVOCATION; PLEDGE OF ALLEGIANCE
3. COMMENTS OR CONCERNS FROM CITIZENS
At this time, citizens may address the Board in accordance with the "Texas Open Meetings Act, Government Code Chapter 551; If the subject is an item that is not on the agenda, any response by a member of the Board must be limited to a statement of specific factual information, a recitation of existing policy, or a proposal to place the subject on the agenda for a future WEDC meeting. Comments are limited to (3) minutes.
4. CONSENT ITEMS
This section shall provide for items that require action by the Board, but where little or no discussion is anticipated. By a single motion, second and affirmative majority vote, items under this section are approved without further discussion or action.
4.1. Minutes - Regular WEDC Meeting 01/23/2018
4.2. WEDC Financial Reports: October and November 2017
4.3. WEDC Financial Reports: December 2017 and January 2018
4.4. Quarterly Investment Report 9/30/2017-12/31/2017
4.5. Minutes - Regular WEDC Meeting 11/28/2017
5. PUBLIC HEARING, ORDINANCES, RESOLUTIONS, OR OTHER ACTION ITEMS:
This section shall provide for all other official discussion and action items provided for consideration by the Board. 5.1. Winnsboro Center for the Arts
5.2. Investment Policy
Page 1 of 84
6. STAFF REPORTS 6.1. Farmers Market
7. ADJOURNMENT
The next meeting of the Winnsboro Economic Development Corporation will be held on March 27, 2018. Requests for placement on the agenda must be completed and turned in to City Hall before Noon on March 19th.
Page 2 of 84
Executive Summary
To: Economic Development Corporation
Submitted By: City Secretary
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Minutes - Regular WEDC Meeting 01/23/2018
Page 3 of 84
MINUTES OF THE REGULAR MEETING OF THEWINNSBORO ECONOMIC DEVELOPMENT CORPORATION
501 S. MAIN ST., WINNSBORO, TEXASJanuary 23, 2018
Board Members Present: President Chett Simons, Board Members Jan Mills, and Brenda Shirley.
Board Members Not Present: Vice President Roger Young, Board Members John Fennell, and Randy Parrish
Staff Present: EDC Assistant Director Charles Mazarakes and City Administrator Craig Lindholm
1 Call to Order; Welcome Citizens and Visitors; Establishment of QuorumMeeting called to order at 5:31 PM. Board President, Chett Simons announced that there was not a quorum of board members, so all consents will be moved to the next WEDC meeting.
2 Invocation; Pledge of Allegiance: Invocation led by Board Member Brenda Shirley.
3 Comments or Concerns from Citizens: None.
4 Consent Items: Moved to next meeting due to lack of a quorum of Board Members.
5 Public Hearing, Ordinances, Resolutions, or Other Action Items:
5.1. WEDC - Hotel Market Feasibility Study Core Distinction Group
Jessica Junker with the Core Distinction Group out of Wisconsin spoke to the WEDC Board regarding the feasibility study for Winnsboro.Highlighted points from the study: 1. Winnsboro has a need for weekend lodging.2. Group will need to do more corporate studies to determine more need for weekday lodging.3. Still looking to get more information from surrounding areas.4. Group will make a determination after interviews are finished (10 - 15 more). This could take two more weeks.5. The first draft will be submitted within 30 days by CDG.
5.2. Public WiFi - Discussion Only: Postponed to next meeting when more Board Members can be present.
6 Staff Reports
Page 2 of 3
Page 4 of 84
WINNSBORO ECONOMIC DEVELOPMENT CORPORATIONJanuary 23, 2018
6.1. WEDC Program Report - Oral Report by Craig Lindholm and Charles Mazarakes
Charles Mazarakes, WEDC Assistant Director discussed Applications for incentives for new business owners. Discussed facade grant applications, not including Main Street, being a completely separate package than the incentives applications. Proposed to the Board was a suggested change to facade grant at a maximum of $1000 across the board. The new applications are a condensed version that previously consisted of 4 to 5 different application packets. Changes to be reviewed by the Board and will come back for approval to another meeting.City Administrator, Craig Lindholm discussed Unified Materials Group still being interested in relocating to Winnsboro. UMG is working on getting records together to submit to the WEDC Board. Mr. Lindholm told the Board that there had been updates to the WEDC website and that it was being managed locally now and that would be a savings of approximately $10,000 per year. Also recapped were other items that the WEDC has been working on including the city WiFi and WEDC loan documents.
7 Executive Session: None.
8 Adjournment: 5:57 PM.
THESE MINUTES OF THE 01/23/2018 WINNSBORO ECONOMIC DEVELOPMENT CORPORATION MEETING ARE HEREBY:
APPROVED:
By:_______________________Chett Simons, Board President
AND,
ATTESTED:
By:_______________________Jondra Hixon, City Secretary
Page 3 of 3
Page 5 of 84
Executive Summary
To: Economic Development Corporation
Submitted By: Finance Officer
Date: February 27, 2018
Discuss/Seek Guidance/Action:
WEDC Financial Reports: October and November 2017
Executive Summary:
Finance Officer will be available to answer questions.
Page 7 of 84
1-19-2018 09:23 AM C I T Y O F W I N N S B R O PAGE: 1
BALANCE SHEET
AS OF: NOVEMBER 30TH, 2017
950-ECONOMIC DEVELOPMENT
ACCOUNT# TITLE
ASSETS
======
1000 ECONOMIC DEVELOP FUND-CASH 126,572.94
1016 INVESTMENTS 323,559.10
1219 SALES TAX RECEIVABLE 26,278.02
_____________
476,410.06
_____________
TOTAL ASSETS 476,410.06
=============
LIABILITIES
===========
_____________
_____________
FUND BALANCE/EQUITY
===================
3000 FUND BALANCE 440,002.59
_____________
TOTAL FUND BALANCE/EQUITY 440,002.59
_____________
TOTAL REVENUES 59,951.10
TOTAL EXPENSES ( 23,543.63)
_____________
EXCESS REVENUES OVER EXPENSES 36,407.47
_____________
TOTAL LIABILITIES & FUND BALANCE/EQUITY 476,410.06
=============
Page 2 of 27
Page 8 of 84
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Page 8 of 27
Page 14 of 84
1-19-2018 09:18 AM C I T Y O F W I N N S B O R O PAGE: 1
FINANCIAL STATEMENT - UNAUDITED
AS OF: NOVEMBER 30TH, 2017
950-ECONOMIC DEVELOPMENT
FINANCIAL SUMMARY 16.67% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
ACCT# ACCOUNT NAME BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
REVENUE SUMMARY
ALL REVENUE 327,500.00 33,528.85 59,951.10 18.31 267,548.90
TOTAL REVENUE 327,500.00 33,528.85 59,951.10 18.31 267,548.90
============== ============== ============== ======== =============
EXPENDITURE SUMMARY
ADMINISTRATION 149,233.00 13,091.38 14,091.38 9.44 135,141.62
EDC DIRECTOR 172,408.00 0.00 9,452.25 5.48 162,955.75
TOTAL EXPENDITURES 321,641.00 13,091.38 23,543.63 7.32 298,097.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 20,437.47 36,407.47 621.39 ( 30,548.47)
============== ============== ============== ======== =============
Page 9 of 27
Page 15 of 84
1-19-2018 09:18 AM C I T Y O F W I N N S B O R O PAGE: 2
FINANCIAL STATEMENT - UNAUDITED
AS OF: NOVEMBER 30TH, 2017
950-ECONOMIC DEVELOPMENT
16.67% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
950-4016 SALES TAX SHARE 325,000.00 33,383.23 59,661.25 18.36 265,338.75
950-4039 REVOLVING LOAN FUND PRINCIPLE 0.00 54.11 108.08 0.00 ( 108.08)
950-4228 INTEREST ON INVESTMENTS 2,500.00 15.32 29.25 1.17 2,470.75
950-4233 INTEREST ON REVOLVING LOAN FD 0.00 76.19 152.52 0.00 ( 152.52)
TOTAL REVENUE 327,500.00 33,528.85 59,951.10 18.31 267,548.90
============== ============== ============== ======== =============
__________________________________________________________________________
*** TOTAL REVENUES *** 327,500.00 33,528.85 59,951.10 18.31 267,548.90
============== ============== ============== ======== =============
Page 10 of 27
Page 16 of 84
1-19-2018 09:18 AM C I T Y O F W I N N S B O R O PAGE: 3
FINANCIAL STATEMENT - UNAUDITED
AS OF: NOVEMBER 30TH, 2017
950-ECONOMIC DEVELOPMENT
ADMINISTRATION 16.67% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL ______________ ______________ ______________ ________ _____________
CONTRACTUAL
950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00
950-5-100-3225 ADMINISTRATIVE EXPENSES 12,066.00 0.00 0.00 0.00 12,066.00
950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 5,391.38 5,391.38 99.84 8.62
950-5-100-3238 MAIN ST COORD EXPENSE 81,467.00 0.00 0.00 0.00 81,467.00
950-5-100-3239 FARMERS MARKET COORDINATOR 30,300.00 0.00 0.00 0.00 30,300.00
950-5-100-3250 AUDIT SERVICES 2,000.00 1,900.00 1,900.00 95.00 100.00
950-5-100-3520 BUILDING LEASE/RENTAL 3,000.00 0.00 0.00 0.00 3,000.00
950-5-100-3990 BOOKKEEPING SERVICES 0.00 0.00 1,000.00 0.00 ( 1,000.00)
TOTAL CONTRACTUAL 149,233.00 7,291.38 8,291.38 0.00 140,941.62
SUPPLIES ______________ ______________ ______________ ________ _____________
CAPITAL ______________ ______________ ______________ ________ _____________
RESERVES
950-5-100-7102 MARKETING/ADVERTISING 0.00 5,800.00 5,800.00 0.00 ( 5,800.00)
TOTAL RESERVES 0.00 5,800.00 5,800.00 0.00 ( 5,800.00)
TRANSFERS ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL ADMINISTRATION 149,233.00 13,091.38 14,091.38 9.44 135,141.62
============== ============== ============== ======== =============
Page 11 of 27
Page 17 of 84
1-19-2018 09:18 AM C I T Y O F W I N N S B O R O PAGE: 4
FINANCIAL STATEMENT - UNAUDITED
AS OF: NOVEMBER 30TH, 2017
950-ECONOMIC DEVELOPMENT
EDC DIRECTOR 16.67% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL
950-5-105-2150 REGULAR SALARIES/BENEFITS 120,418.00 0.00 0.00 0.00 120,418.00
TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00
CONTRACTUAL
950-5-105-3140 TELEPHONE SERVICES 1,500.00 0.00 0.00 0.00 1,500.00
950-5-105-3430 ADVERTISEMENTS & NOTICES 25,240.00 0.00 3,362.25 13.32 21,877.75
950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00
950-5-105-3615 PROSPECT EXPENSES 2,000.00 0.00 0.00 0.00 2,000.00
950-5-105-3630 DUES & MEMBERSHIPS 2,500.00 0.00 100.00 4.00 2,400.00
950-5-105-3680 PUBLICATIONS 150.00 0.00 0.00 0.00 150.00
950-5-105-3850 SOFTWARE/COMPUTER SERVICE 0.00 0.00 5,990.00 0.00 ( 5,990.00)
TOTAL CONTRACTUAL 41,390.00 0.00 9,452.25 0.00 31,937.75
SUPPLIES
950-5-105-4110 OFFICE SUPPLIES 1,600.00 0.00 0.00 0.00 1,600.00
950-5-105-4150 PRINTING & FORMS 1,000.00 0.00 0.00 0.00 1,000.00
950-5-105-4165 PROMOTION MATERIALS 8,000.00 0.00 0.00 0.00 8,000.00
TOTAL SUPPLIES 10,600.00 0.00 0.00 0.00 10,600.00
CAPITAL ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL EDC DIRECTOR 172,408.00 0.00 9,452.25 5.48 162,955.75
============== ============== ============== ======== =============
*** TOTAL EXPENDITURES *** 321,641.00 13,091.38 23,543.63 7.32 298,097.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 20,437.47 36,407.47 621.39 ( 30,548.47)
============== ============== ============== ======== =============
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Page 18 of 84
1-19-2018 09:22 AM C I T Y O F W I N N S B R O PAGE: 1
BALANCE SHEET
AS OF: OCTOBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
ACCOUNT# TITLE
ASSETS
======
1000 ECONOMIC DEVELOP FUND-CASH 106,135.47
1016 INVESTMENTS 323,559.10
1219 SALES TAX RECEIVABLE 26,278.02
_____________
455,972.59
_____________
TOTAL ASSETS 455,972.59
=============
LIABILITIES
===========
_____________
_____________
FUND BALANCE/EQUITY
===================
3000 FUND BALANCE 440,002.59
_____________
TOTAL FUND BALANCE/EQUITY 440,002.59
_____________
TOTAL REVENUES 26,422.25
TOTAL EXPENSES ( 10,452.25)
_____________
EXCESS REVENUES OVER EXPENSES 15,970.00
_____________
TOTAL LIABILITIES & FUND BALANCE/EQUITY 455,972.59
=============
Page 13 of 27
Page 19 of 84
n..
12/22/17 9:48 AM
RECONCILIATION SUMMARY
ACCOUNT:
BEGINNING STATEMENT BALANCE:DEPOSITS:
WITHDRAWALS:
ADJUSTMENTS:ENDING STATEMENT BALANCE:
STATEMENT BALANCE: 172,729.35
BANK DIFFERENCE: 0.00
G/L DIFFERENCE: 0.00
CLEARED DEPOSITS:
10/11/2017 001011
10/17/2017 001017
TOTAL CLEARED DEPOSITS:
CLEARED CHECKS:
9/20/2017 002655
10/19/2017 00266010/26/2017 002661
10/26/2017 002663
TOTAL CLEARED CHECKS:
CLEARED OTHER:
10/31/2017 001031
TOTAL CLEARED OTHER:
950-1000 ECONOMIC DEVELOP FUND-CASH
B A N K R E C O N C
PERIOD: 10/01/2017
152,669.35+ 26,422.25
+ 6,362.25CR+ 0.00
172,729.35
10/17 MADISON OAKS
10/17 WEDC TAX DEPOSIT
MICHELLE BAKER
BAKER, MICHELLE
WINNSBORO CHAMBER OF COMMERCE
GOLDEN SHOVEL AGENCY
10/17/2017 BANK INTEREST
I L I A T I O N PAGE
- 10/31/2017
GL ACCOUNT BALANCE: 106,135.47OUTSTANDING DEPOSITS: 0.00OUTSTANDING CHECKS: 66,593.8BCR
ADJUSTMENTS: + 0.00ADJUSTED GL ACCOUNT BALANCE: 172,729.35
13 3026 27 02
26,408.32
1,000.00CR1,000.00CR3,362.25CR
000.00CR
6,362.25CR
13.93
Page 14 of 27
Page 20 of 84
Fil'S1’NAnoNALI38IlII{or WINNSBORO
Date 10/31/17 Page: 2 ofPrimary Account 9001212Enc1osures
REGULAR NOW NONPERS 9001212 (Continued)
Dai1y Ba1ance InformationDate Ba1ance10/31 172,729.35
Interest Rate SummaryInterest Rate
.10%Date9/30
CYBER SECURITY TIPSLinks in emai1, tweets, posts, and on1ine advertising are often the waycybercrimina1s compromise your computer. Be wary of any communication thatimp1ores you to act immediate1y, offers something that sounds too good to betrue, or asks for persona1 information. If it 1ooks suspicious, even if youknow the source, it's best to de1ete or if appropriate, mark as junk emai1.
Page 17 of 27
Page 23 of 84
Firstmnou ln?llk Panecunt:OF WINNSBORO
$130.30 : ID/ll/Z017
INCLFJRICHECK
Page 18 of 27
Page 24 of 84
1-19-2018 09:15 AM C I T Y O F W I N N S B O R O PAGE: 1
FINANCIAL STATEMENT - UNAUDITED
AS OF: OCTOBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
FINANCIAL SUMMARY 08.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
ACCT# ACCOUNT NAME BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
REVENUE SUMMARY
ALL REVENUE 327,500.00 26,422.25 26,422.25 8.07 301,077.75
TOTAL REVENUE 327,500.00 26,422.25 26,422.25 8.07 301,077.75
============== ============== ============== ======== =============
EXPENDITURE SUMMARY
ADMINISTRATION 149,233.00 1,000.00 1,000.00 0.67 148,233.00
EDC DIRECTOR 172,408.00 9,452.25 9,452.25 5.48 162,955.75
TOTAL EXPENDITURES 321,641.00 10,452.25 10,452.25 3.25 311,188.75
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 15,970.00 15,970.00 272.57 ( 10,111.00)
============== ============== ============== ======== =============
Page 19 of 27
Page 25 of 84
1-19-2018 09:15 AM C I T Y O F W I N N S B O R O PAGE: 2
FINANCIAL STATEMENT - UNAUDITED
AS OF: OCTOBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
08.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
950-4016 SALES TAX SHARE 325,000.00 26,278.02 26,278.02 8.09 298,721.98
950-4039 REVOLVING LOAN FUND PRINCIPLE 0.00 53.97 53.97 0.00 ( 53.97)
950-4228 INTEREST ON INVESTMENTS 2,500.00 13.93 13.93 0.56 2,486.07
950-4233 INTEREST ON REVOLVING LOAN FD 0.00 76.33 76.33 0.00 ( 76.33)
TOTAL REVENUE 327,500.00 26,422.25 26,422.25 8.07 301,077.75
============== ============== ============== ======== =============
__________________________________________________________________________
*** TOTAL REVENUES *** 327,500.00 26,422.25 26,422.25 8.07 301,077.75
============== ============== ============== ======== =============
Page 20 of 27
Page 26 of 84
1-19-2018 09:15 AM C I T Y O F W I N N S B O R O PAGE: 3
FINANCIAL STATEMENT - UNAUDITED
AS OF: OCTOBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
ADMINISTRATION 08.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL ______________ ______________ ______________ ________ _____________
CONTRACTUAL
950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00
950-5-100-3225 ADMINISTRATIVE EXPENSES 12,066.00 0.00 0.00 0.00 12,066.00
950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 0.00 0.00 5,400.00
950-5-100-3238 MAIN ST COORD EXPENSE 81,467.00 0.00 0.00 0.00 81,467.00
950-5-100-3239 FARMERS MARKET COORDINATOR 30,300.00 0.00 0.00 0.00 30,300.00
950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 0.00 0.00 2,000.00
950-5-100-3520 BUILDING LEASE/RENTAL 3,000.00 0.00 0.00 0.00 3,000.00
950-5-100-3990 BOOKKEEPING SERVICES 0.00 1,000.00 1,000.00 0.00 ( 1,000.00)
TOTAL CONTRACTUAL 149,233.00 1,000.00 1,000.00 0.00 148,233.00
SUPPLIES ______________ ______________ ______________ ________ _____________
CAPITAL ______________ ______________ ______________ ________ _____________
RESERVES ______________ ______________ ______________ ________ _____________
TRANSFERS ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL ADMINISTRATION 149,233.00 1,000.00 1,000.00 0.67 148,233.00
============== ============== ============== ======== =============
Page 21 of 27
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1-19-2018 09:15 AM C I T Y O F W I N N S B O R O PAGE: 4
FINANCIAL STATEMENT - UNAUDITED
AS OF: OCTOBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
EDC DIRECTOR 08.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL
950-5-105-2150 REGULAR SALARIES/BENEFITS 120,418.00 0.00 0.00 0.00 120,418.00
TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00
CONTRACTUAL
950-5-105-3140 TELEPHONE SERVICES 1,500.00 0.00 0.00 0.00 1,500.00
950-5-105-3430 ADVERTISEMENTS & NOTICES 25,240.00 3,362.25 3,362.25 13.32 21,877.75
950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00
950-5-105-3615 PROSPECT EXPENSES 2,000.00 0.00 0.00 0.00 2,000.00
950-5-105-3630 DUES & MEMBERSHIPS 2,500.00 100.00 100.00 4.00 2,400.00
950-5-105-3680 PUBLICATIONS 150.00 0.00 0.00 0.00 150.00
950-5-105-3850 SOFTWARE/COMPUTER SERVICE 0.00 5,990.00 5,990.00 0.00 ( 5,990.00)
TOTAL CONTRACTUAL 41,390.00 9,452.25 9,452.25 0.00 31,937.75
SUPPLIES
950-5-105-4110 OFFICE SUPPLIES 1,600.00 0.00 0.00 0.00 1,600.00
950-5-105-4150 PRINTING & FORMS 1,000.00 0.00 0.00 0.00 1,000.00
950-5-105-4165 PROMOTION MATERIALS 8,000.00 0.00 0.00 0.00 8,000.00
TOTAL SUPPLIES 10,600.00 0.00 0.00 0.00 10,600.00
CAPITAL ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL EDC DIRECTOR 172,408.00 9,452.25 9,452.25 5.48 162,955.75
============== ============== ============== ======== =============
*** TOTAL EXPENDITURES *** 321,641.00 10,452.25 10,452.25 3.25 311,188.75
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 15,970.00 15,970.00 272.57 ( 10,111.00)
============== ============== ============== ======== =============
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CD-2
1/19/2018 Digital Banking
ore deta Is for CD-2 60477
Nickname
Owner Winnsboro Economic Development Corp
Type CD
Date Opened 2/6/2007
Interest Rate (ITR) 0.65%
Interest Paid This Year $0.00
Interest Accrued, Not Yet Paid $157.85
Maturity Date 2/06/2018
Account Term 12M
https://fnbwwtx.secure.fundsxpress.com/fxweb/app/#/accounts/details/13985121/transactions
More Options
ACH Info
FullAccount Number
1/Page 24 of 27
Page 30 of 84
Executive Summary
To: Economic Development Corporation
Submitted By: Finance Officer
Date: February 27, 2018
Discuss/Seek Guidance/Action:
WEDC Financial Reports: December 2017 and January 2018
Page 35 of 84
2-22-2018 05:02 PM C I T Y O F W I N N S B R O PAGE: 1
BALANCE SHEET
AS OF: DECEMBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
ACCOUNT# TITLE
ASSETS
======
1000 ECONOMIC DEVELOP FUND-CASH 151,400.31
1016 INVESTMENTS 323,559.10
1219 SALES TAX RECEIVABLE 26,278.02
_____________
501,237.43
_____________
TOTAL ASSETS 501,237.43
=============
LIABILITIES
===========
_____________
_____________
FUND BALANCE/EQUITY
===================
3000 FUND BALANCE 440,002.59
_____________
TOTAL FUND BALANCE/EQUITY 440,002.59
_____________
TOTAL REVENUES 86,888.47
TOTAL EXPENSES ( 25,653.63)
_____________
EXCESS REVENUES OVER EXPENSES 61,234.84
_____________
TOTAL LIABILITIES & FUND BALANCE/EQUITY 501,237.43
=============
Page 2 of 21
Page 36 of 84
10.2
1/18/1810:07AM BANK RECONCILIATION PAGE
PERIOD: 12/01/2017 — 12/31/2017
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
VOIDED CHECKS:
12/07/2017 002670 GOLDEN SHOVEL AGENCY VOIDED VOIDED 12/O7/2017TOTAL VOIDED CHECKS: l,000.00CR
Page 5 of 21
Page 39 of 84
2-22-2018 04:56 PM C I T Y O F W I N N S B O R O PAGE: 1
FINANCIAL STATEMENT - UNAUDITED
AS OF: DECEMBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
FINANCIAL SUMMARY 25.00% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
ACCT# ACCOUNT NAME BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
REVENUE SUMMARY
ALL REVENUE 327,500.00 26,937.37 86,888.47 26.53 240,611.53
TOTAL REVENUE 327,500.00 26,937.37 86,888.47 26.53 240,611.53
============== ============== ============== ======== =============
EXPENDITURE SUMMARY
ADMINISTRATION 149,233.00 1,000.00 15,091.38 10.11 134,141.62
EDC DIRECTOR 172,408.00 1,110.00 10,562.25 6.13 161,845.75
TOTAL EXPENDITURES 321,641.00 2,110.00 25,653.63 7.98 295,987.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 24,827.37 61,234.84 1,045.14 ( 55,375.84)
============== ============== ============== ======== =============
Page 8 of 21
Page 42 of 84
2-22-2018 04:56 PM C I T Y O F W I N N S B O R O PAGE: 2
FINANCIAL STATEMENT - UNAUDITED
AS OF: DECEMBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
25.00% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
950-4016 SALES TAX SHARE 325,000.00 26,795.24 86,456.49 26.60 238,543.51
950-4039 REVOLVING LOAN FUND PRINCIPLE 0.00 54.24 162.32 0.00 ( 162.32)
950-4228 INTEREST ON INVESTMENTS 2,500.00 11.83 41.08 1.64 2,458.92
950-4233 INTEREST ON REVOLVING LOAN FD 0.00 76.06 228.58 0.00 ( 228.58)
TOTAL REVENUE 327,500.00 26,937.37 86,888.47 26.53 240,611.53
============== ============== ============== ======== =============
__________________________________________________________________________
*** TOTAL REVENUES *** 327,500.00 26,937.37 86,888.47 26.53 240,611.53
============== ============== ============== ======== =============
Page 9 of 21
Page 43 of 84
2-22-2018 04:56 PM C I T Y O F W I N N S B O R O PAGE: 3
FINANCIAL STATEMENT - UNAUDITED
AS OF: DECEMBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
ADMINISTRATION 25.00% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL ______________ ______________ ______________ ________ _____________
CONTRACTUAL
950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00
950-5-100-3225 ADMINISTRATIVE EXPENSES 12,066.00 0.00 0.00 0.00 12,066.00
950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 5,391.38 99.84 8.62
950-5-100-3238 MAIN ST COORD EXPENSE 81,467.00 0.00 0.00 0.00 81,467.00
950-5-100-3239 FARMERS MARKET COORDINATOR 30,300.00 0.00 0.00 0.00 30,300.00
950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 1,900.00 95.00 100.00
950-5-100-3520 BUILDING LEASE/RENTAL 3,000.00 0.00 0.00 0.00 3,000.00
950-5-100-3990 BOOKKEEPING SERVICES 0.00 0.00 1,000.00 0.00 ( 1,000.00)
TOTAL CONTRACTUAL 149,233.00 0.00 8,291.38 0.00 140,941.62
SUPPLIES ______________ ______________ ______________ ________ _____________
CAPITAL ______________ ______________ ______________ ________ _____________
RESERVES
950-5-100-7102 MARKETING/ADVERTISING 0.00 1,000.00 6,800.00 0.00 ( 6,800.00)
TOTAL RESERVES 0.00 1,000.00 6,800.00 0.00 ( 6,800.00)
TRANSFERS ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL ADMINISTRATION 149,233.00 1,000.00 15,091.38 10.11 134,141.62
============== ============== ============== ======== =============
Page 10 of 21
Page 44 of 84
2-22-2018 04:56 PM C I T Y O F W I N N S B O R O PAGE: 4
FINANCIAL STATEMENT - UNAUDITED
AS OF: DECEMBER 31ST, 2017
950-ECONOMIC DEVELOPMENT
EDC DIRECTOR 25.00% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL
950-5-105-2150 REGULAR SALARIES/BENEFITS 120,418.00 0.00 0.00 0.00 120,418.00
TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00
CONTRACTUAL
950-5-105-3140 TELEPHONE SERVICES 1,500.00 0.00 0.00 0.00 1,500.00
950-5-105-3430 ADVERTISEMENTS & NOTICES 25,240.00 0.00 3,362.25 13.32 21,877.75
950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00
950-5-105-3615 PROSPECT EXPENSES 2,000.00 0.00 0.00 0.00 2,000.00
950-5-105-3630 DUES & MEMBERSHIPS 2,500.00 110.00 210.00 8.40 2,290.00
950-5-105-3680 PUBLICATIONS 150.00 0.00 0.00 0.00 150.00
950-5-105-3850 SOFTWARE/COMPUTER SERVICE 0.00 1,000.00 6,990.00 0.00 ( 6,990.00)
TOTAL CONTRACTUAL 41,390.00 1,110.00 10,562.25 0.00 30,827.75
SUPPLIES
950-5-105-4110 OFFICE SUPPLIES 1,600.00 0.00 0.00 0.00 1,600.00
950-5-105-4150 PRINTING & FORMS 1,000.00 0.00 0.00 0.00 1,000.00
950-5-105-4165 PROMOTION MATERIALS 8,000.00 0.00 0.00 0.00 8,000.00
TOTAL SUPPLIES 10,600.00 0.00 0.00 0.00 10,600.00
CAPITAL ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL EDC DIRECTOR 172,408.00 1,110.00 10,562.25 6.13 161,845.75
============== ============== ============== ======== =============
*** TOTAL EXPENDITURES *** 321,641.00 2,110.00 25,653.63 7.98 295,987.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 24,827.37 61,234.84 1,045.14 ( 55,375.84)
============== ============== ============== ======== =============
Page 11 of 21
Page 45 of 84
2-22-2018 05:01 PM C I T Y O F W I N N S B R O PAGE: 1
BALANCE SHEET
AS OF: JANUARY 31ST, 2018
950-ECONOMIC DEVELOPMENT
ACCOUNT# TITLE
ASSETS
======
1000 ECONOMIC DEVELOP FUND-CASH 181,831.54
1016 INVESTMENTS 323,559.10
1219 SALES TAX RECEIVABLE 26,278.02
_____________
531,668.66
_____________
TOTAL ASSETS 531,668.66
=============
LIABILITIES
===========
_____________
_____________
FUND BALANCE/EQUITY
===================
3000 FUND BALANCE 440,002.59
_____________
TOTAL FUND BALANCE/EQUITY 440,002.59
_____________
TOTAL REVENUES 117,319.70
TOTAL EXPENSES ( 25,653.63)
_____________
EXCESS REVENUES OVER EXPENSES 91,666.07
_____________
TOTAL LIABILITIES & FUND BALANCE/EQUITY 531,668.66
=============
Page 12 of 21
Page 46 of 84
2/06/18 12:36 PM B A N K R E C O N C I L I A T I O N PAGE: 1
PERIOD: 1/01/2018 - 1/31/2018
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
____________________________________________________________________________________________________________________________________
RECONCILIATION SUMMARY
BEGINNING STATEMENT BALANCE: 153,550.31 GL ACCOUNT BALANCE: 181,831.54
DEPOSITS: + 30,431.23 OUTSTANDING DEPOSITS: - 0.00
WITHDRAWALS: + 2,110.00CR OUTSTANDING CHECKS: - 40.00CR
ADJUSTMENTS: + 0.00 ADJUSTMENTS: + 0.00__
ENDING STATEMENT BALANCE: 181,871.54 ADJUSTED GL ACCOUNT BALANCE: 181,871.54
STATEMENT BALANCE: 181,871.54
BANK DIFFERENCE: 0.00
G/L DIFFERENCE: 0.00
____________________________________________________________________________________________________________________________________
CLEARED DEPOSITS:
1/19/2018 011918 DEC 17 SALES TAX SHARE RECVD 30,286.88
1/23/2018 300395 MADISON OAKS #11 JAN 18 130.30__
TOTAL CLEARED DEPOSITS: 30,417.18
================
CLEARED CHECKS:
12/20/2017 002671 ARTISAN ADVERTISING & MARKETIN 1,000.00CR
12/20/2017 002672 WINNSBORO CHAMBER OF COMMERCE 110.00CR
12/20/2017 002673 GOLDEN SHOVEL AGENCY 1,000.00CR
TOTAL CLEARED CHECKS: 2,110.00CR
================
CLEARED OTHER:
1/31/2018 013118 JANUARY INTEREST 14.05__
TOTAL CLEARED OTHER: 14.05
================
Page 13 of 21
Page 47 of 84
2/06/18 12:36 PM B A N K R E C O N C I L I A T I O N PAGE: 2
PERIOD: 1/01/2018 - 1/31/2018
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
____________________________________________________________________________________________________________________________________
OUTSTANDING DEPOSITS:
No Items.
OUTSTANDING CHECKS:
7/11/2014 002296 WIINBORO ROTARY 40.00CR
TOTAL OUTSTANDING CHECKS: 40.00CR
================
OUTSTANDING OTHER:
No Items.
Page 14 of 21
Page 48 of 84
2/06/18 12:36 PM B A N K R E C O N C I L I A T I O N PAGE: 3
PERIOD: 1/01/2018 - 1/31/2018
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
____________________________________________________________________________________________________________________________________
VOIDED CHECKS:
No Items.
Page 15 of 21
Page 49 of 84
2/06/18 12:36 PM B A N K R E C O N C I L I A T I O N PAGE: 4
PERIOD: 1/01/2018 - 1/31/2018
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
____________________________________________________________________________________________________________________________________
ADJUSTMENTS:
No Items.
Page 16 of 21
Page 50 of 84
2/06/18 12:36 PM B A N K R E C O N C I L I A T I O N PAGE: 5
PERIOD: 1/01/2018 - 1/31/2018
ACCOUNT: 950-1000 ECONOMIC DEVELOP FUND-CASH
____________________________________________________________________________________________________________________________________
ERROR LISTING
TOTAL ERRORS: 0
** END OF REPORT **
Page 17 of 21
Page 51 of 84
2-22-2018 04:59 PM C I T Y O F W I N N S B O R O PAGE: 1
FINANCIAL STATEMENT - UNAUDITED
AS OF: JANUARY 31ST, 2018
950-ECONOMIC DEVELOPMENT
FINANCIAL SUMMARY 33.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
ACCT# ACCOUNT NAME BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
REVENUE SUMMARY
ALL REVENUE 327,500.00 30,431.23 117,319.70 35.82 210,180.30
TOTAL REVENUE 327,500.00 30,431.23 117,319.70 35.82 210,180.30
============== ============== ============== ======== =============
EXPENDITURE SUMMARY
ADMINISTRATION 149,233.00 0.00 15,091.38 10.11 134,141.62
EDC DIRECTOR 172,408.00 0.00 10,562.25 6.13 161,845.75
TOTAL EXPENDITURES 321,641.00 0.00 25,653.63 7.98 295,987.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 30,431.23 91,666.07 1,564.53 ( 85,807.07)
============== ============== ============== ======== =============
Page 18 of 21
Page 52 of 84
2-22-2018 04:59 PM C I T Y O F W I N N S B O R O PAGE: 2
FINANCIAL STATEMENT - UNAUDITED
AS OF: JANUARY 31ST, 2018
950-ECONOMIC DEVELOPMENT
33.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
REVENUES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
950-4016 SALES TAX SHARE 325,000.00 30,286.88 116,743.37 35.92 208,256.63
950-4039 REVOLVING LOAN FUND PRINCIPLE 0.00 54.38 216.70 0.00 ( 216.70)
950-4228 INTEREST ON INVESTMENTS 2,500.00 14.05 55.13 2.21 2,444.87
950-4233 INTEREST ON REVOLVING LOAN FD 0.00 75.92 304.50 0.00 ( 304.50)
TOTAL REVENUE 327,500.00 30,431.23 117,319.70 35.82 210,180.30
============== ============== ============== ======== =============
__________________________________________________________________________
*** TOTAL REVENUES *** 327,500.00 30,431.23 117,319.70 35.82 210,180.30
============== ============== ============== ======== =============
Page 19 of 21
Page 53 of 84
2-22-2018 04:59 PM C I T Y O F W I N N S B O R O PAGE: 3
FINANCIAL STATEMENT - UNAUDITED
AS OF: JANUARY 31ST, 2018
950-ECONOMIC DEVELOPMENT
ADMINISTRATION 33.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL ______________ ______________ ______________ ________ _____________
CONTRACTUAL
950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00
950-5-100-3225 ADMINISTRATIVE EXPENSES 12,066.00 0.00 0.00 0.00 12,066.00
950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 5,391.38 99.84 8.62
950-5-100-3238 MAIN ST COORD EXPENSE 81,467.00 0.00 0.00 0.00 81,467.00
950-5-100-3239 FARMERS MARKET COORDINATOR 30,300.00 0.00 0.00 0.00 30,300.00
950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 1,900.00 95.00 100.00
950-5-100-3520 BUILDING LEASE/RENTAL 3,000.00 0.00 0.00 0.00 3,000.00
950-5-100-3990 BOOKKEEPING SERVICES 0.00 0.00 1,000.00 0.00 ( 1,000.00)
TOTAL CONTRACTUAL 149,233.00 0.00 8,291.38 0.00 140,941.62
SUPPLIES ______________ ______________ ______________ ________ _____________
CAPITAL ______________ ______________ ______________ ________ _____________
RESERVES
950-5-100-7102 MARKETING/ADVERTISING 0.00 0.00 6,800.00 0.00 ( 6,800.00)
TOTAL RESERVES 0.00 0.00 6,800.00 0.00 ( 6,800.00)
TRANSFERS ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL ADMINISTRATION 149,233.00 0.00 15,091.38 10.11 134,141.62
============== ============== ============== ======== =============
Page 20 of 21
Page 54 of 84
2-22-2018 04:59 PM C I T Y O F W I N N S B O R O PAGE: 4
FINANCIAL STATEMENT - UNAUDITED
AS OF: JANUARY 31ST, 2018
950-ECONOMIC DEVELOPMENT
EDC DIRECTOR 33.33% OF FISCAL YEAR
ANNUAL CURRENT Y-T-D % OF BUDGET
EXPENDITURES BUDGET PERIOD ACTUAL BUDGET BALANCE
___________________________________________________________________________________________________________________________
PERSONNEL
950-5-105-2150 REGULAR SALARIES/BENEFITS 120,418.00 0.00 0.00 0.00 120,418.00
TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00
CONTRACTUAL
950-5-105-3140 TELEPHONE SERVICES 1,500.00 0.00 0.00 0.00 1,500.00
950-5-105-3430 ADVERTISEMENTS & NOTICES 25,240.00 0.00 3,362.25 13.32 21,877.75
950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00
950-5-105-3615 PROSPECT EXPENSES 2,000.00 0.00 0.00 0.00 2,000.00
950-5-105-3630 DUES & MEMBERSHIPS 2,500.00 0.00 210.00 8.40 2,290.00
950-5-105-3680 PUBLICATIONS 150.00 0.00 0.00 0.00 150.00
950-5-105-3850 SOFTWARE/COMPUTER SERVICE 0.00 0.00 6,990.00 0.00 ( 6,990.00)
TOTAL CONTRACTUAL 41,390.00 0.00 10,562.25 0.00 30,827.75
SUPPLIES
950-5-105-4110 OFFICE SUPPLIES 1,600.00 0.00 0.00 0.00 1,600.00
950-5-105-4150 PRINTING & FORMS 1,000.00 0.00 0.00 0.00 1,000.00
950-5-105-4165 PROMOTION MATERIALS 8,000.00 0.00 0.00 0.00 8,000.00
TOTAL SUPPLIES 10,600.00 0.00 0.00 0.00 10,600.00
CAPITAL ______________ ______________ ______________ ________ _____________
__________________________________________________________________________
TOTAL EDC DIRECTOR 172,408.00 0.00 10,562.25 6.13 161,845.75
============== ============== ============== ======== =============
*** TOTAL EXPENDITURES *** 321,641.00 0.00 25,653.63 7.98 295,987.37
============== ============== ============== ======== =============
EXCESS REVENUES/EXPENDITURES 5,859.00 30,431.23 91,666.07 1,564.53 ( 85,807.07)
============== ============== ============== ======== =============
Page 21 of 21
Page 55 of 84
Executive Summary
To: Economic Development Corporation
Submitted By: Finance Officer
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Quarterly Investment Report 9/30/2017-12/31/2017
Page 57 of 84
Invest
Dana’Bu ?tk,Hriancial ba
Winnsboro Economic Development Corporation
09/30/2017- 12/31/2017
INVESTMENTREPORT
The Quarterly Investment Report for the Winnsboro Economic Development Corporation,
Winnsboro, Texas for the quarter ended December 31, 2017 is hereby submitted.
The current depository bank for the Winnsboro Economic Development Corporation is
First National Bank, Winnsboro, TX.
There have been no new CD purchases this quarter.
The bank account and the previously purchased CD5are insured by a combination of FDICinsurance and pledged securities.
This report is in compliance with the investment strategy as established in the City's
Investment Policy and the Public Funds ment Act, Chapter 2256, Texas Government
Code.
stment Officer Date
Hixo Secreta r
nd Officer, Investment Officer
20/
Page 2 of 3
Page 58 of 84
opmmx
Bank Accounts
First National BankCash Account
10/01/2017— 10/31/201711/01/2017— 11/30/201711/30/2017— 12/31/2017
Ending Balance/Totals
CD's
First National Bank#60477 02/06/2018-12M
#62189 09/01/2018— 12M
#62190 09/01/2018— 12M
Total CD Investments
Total
SSS$
‘lhih
WINNSBORO ECONOMICDEVELOPMENTCORPORATION
9/30/2017BALANCE
Non-interest bearing
90,165.47
106,135.47
126,572.94
Balance
100,000.00
100,000.00
100,000.00
100,000.00
SS$
INVESTMENTREPORT
12/31/2017
INTEREST
DEPOSITS DISTRIBUTIONS EARNED
116,834.39 10,712.85 13.93 S35,543.83 15,121.68 15.32 S27,925.54 3,110.00 11.83 S
180,303.76 S 28,944.53 S 41.08 S
9/30/2017 Interest
Balance Rate Distributions
119,513.28 0.65% S S102,022.91 1.00% S102,022.91 1.00% S
116,602.62 5 S
BALANCE
106,135.47
126,572.94
151,400.31
151,400.31
Interest ThisPe?od
195.96
277.62
277.62
191.19
12/31/2017Balance
$ 151,400.31$ 151,400.31
12/31/2017Balance
5 119,709.24
S 102,300.53
S 102,300.53
S 324,310.30
475,710.61
Page 3 of 3
Page 59 of 84
Executive Summary
To: Economic Development Corporation
Submitted By: City Secretary
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Minutes - Regular WEDC Meeting 11/28/2017
Executive Summary:
Minutes moved from previous meeting; quorum requirements not met.
Page 61 of 84
Regular Meeting Minutes of the
Winnsboro Economic Development Corporation
501 S. Main St., Winnsboro, TX
November 28, 2017
Board Members Present: Vice President Roger Young, Board Members Jan Mills, John Fennell, and Richard R. Parrish
Board Members Not Present: Board Members Brenda Shirley and Chett Simons
Staff Present: EDC Assistant Director Charles Mazarakes, City Administrator Craig Lindholm, and City Secretary Jondra Hixon
Other: Bryan Giguere, The Winnsboro News
1 Call to Order; Welcome Citizens and Visitors; Establishment of Quorum
Meeting called to order at 5:33 PM. Quorum established.
2 Invocation; Pledge of Allegiance
Invocation led by Richard R. Parrish; Pledges of allegiance led by Roger Young.
3 Comments or Concerns from Citizens
4 Consent Items
4.1. Minutes: Regular Meeting 10/24/2017
For Against Abstained
Jan Mills (Moved By) x
Roger Young
John Fennell x
Randy Parrish (Seconded By) x
Motion Passed.
5 Public Hearing, Ordinances, Resolutions, or Other Action Items:
5.1. Discussion/Approval of Hotel Market Feasibility Study: Craig Lindholm, City Administrator discussed Cobblestone Hotels coming to Winnsboro to do a market feasibility study (handled by Core Distinction Group) to establish the possibility of a hotel being built in Winnsboro. The group would do market comparisons, interviews and also identify potential sites for a hotel. Total cost
Page 2 of 3
Page 62 of 84
Winnsboro Economic Development Corporation
November 28, 2017
for the study is $8,000. If preliminary study finds that Winnsboro is not feasible for a hotel, only half of this cost would be required. This would take three to six months to complete.
For Against Abstained
Jan Mills (Moved By) x
Roger Young
John Fennell x
Randy Parrish (Seconded By) x
Motion Passed.
6 Staff Reports
6.1. Written Reports Included: Farmers Market
7 Executive Session: No Executive Session.
8 Adjournment: Meeting adjourned at 5:53 PM.
THESE MINUTES OF THE NOVEMBER 28, 2017 WINNSBORO ECONOMIC DEVELOPMENT CORPORATION MEETING ARE HEREBY:
APPROVED:
By:_______________________
Chett Simons, President
ATTESTED:
By:_______________________
Jondra Hixon, City Secretary
Page 3 of 3
Page 63 of 84
Executive Summary
To: Economic Development Corporation
Submitted By:
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Winnsboro Center for the Arts
Executive Summary:
Over the past several months the WEDC and City Staff have been working with the WCA to promote economic growth and enhance the quality of life in the City of Winnsboro. The City has collaborated with the WCA on a National Endowment for the Arts grant application which, if funded could expand the city's appeal as a regional destination as well as enhance the City and WCA as a center for arts education. Over the last two decades, there have been numerous governmental and non-profit studies which have demonstrated the economic impact investments in the arts have on cities and how they enhance their growth.
The staff fully supports and recommends that the WEDC Board of Directors take the next step in recognizing the economic impact of the arts on our city by assisting with the funding of a Concept/Feasibility Study for a New Arts Education Facility for the WCA.
Page 65 of 84
I(SAA-DYNAMIC-PERSPECTIVE
Wednesday, January 10, 2018
Winnsboro Center for the ArtsMary White, Board President200 Market St. POBox 342Winnsboro, Texas 75494(903) 342-0686mwhite@winnsborocfa.com
Re New Art Education FacilityConcept Study Feasibility Study
Dear Mrs. White
Thank you again for giving KSAthis opportunity to partner with you concerning your planned arteducation facility to be located in historic downtown Winnsboro, Texas. We appreciate thechance to work with Winnsboro Center for the Arts as you seek to make a lasting impact for thearts throughout the NETexas region.
As we understand, the Winnsboro Center for the Arts is currently planning for a new 8,000 —
11,000 SF art education facility. The proposed facility is planned for the downtown Winnsborocity block contained by Locust St. / FM 1448/ E. ElmSt. / N. Walnut St. A sculpture garden,outdoor amphitheater, and shared public parking are included in the Center's plans for theproposed site. The Center is seeking to develop a preliminary concept site plan, floor plan, 3Drendering, and opinion of probable cost.
Project Scope:1. Determine the necessary square foot area to provide for current and future needs
(anticipated size from 8,000 SF to 11,000 SF).2. Create a composite master plan with desired spaces, functions, and uses3. Establisha budget / cost opinion for the planned facility (anticipated budget $315/SF to
$385/SF).4. Evaluation of existing downtown facility for potential future uses to compliment the new
proposed art education facility.5. Design Criteria /Goalsto establish in this feasibility study:
a. What are the functions and activities to take place in the new and existingfacilities? Thiswill lead to an approximate size and layout of the space.
b. What are the general design strategies (ie. Connection with downtown,adjacencies to future municipal development, both stand out at an art center andremain in harmony with downtown, address sidewalk streetscape, parking, etc.)?
c. Establishfinancial feasibility and fundraising goals.
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8875 SynergyDriveMcKinney.TX75070
972.542.
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|(SA
TASKNo. 1: Conce FloorPlanand Slte Plan
TASKNo.2: Conceg; Rendering
TASKNo. 4: Reimbursable Exgenses
Total Cumgoslte Fee:
A-DYNAMIC-PERSPECTIVE
KSAwilldevelop a Concept FloorPlan and Site Plan for the new facility and existing downtown location,along with an opinion of probable construction cost. Also,an estimated construction timeline andconstruction delivery recommendation. This plan willallow the Center to establish a budget target goal.This plan willinclude, but willnot be limited to, all items listed above. Thisestimate willbe conservativeand include a 10% contingency for future inflation and construction cost variation.
Deliverablesat the end of this phase will be two 24x36 format mounted boards or prints, PDFfiles, and anopinion of probable cost in print or PDFformat.
Anticipated time allotment: 5 weeksLump Sum Fee: $63000
KSAwillprovide a single view, large format 3—Dimensiona| Concept Rendering of what the facility couldlook like. Please note, the finalfacility does not necessarily have to follow this concept. Item No. 1 shallbe completed prior to starting the final concept rendering.
Deliverablesat the end of this phase willbe one 24x36 format mounted board or print and PDF files foruse in fundraising.
Anticipated time allotment: 3 weeksLump Sum Fee: $2,500
TASKNo. 3: FormalPresentationAt the completion of the above 2 items, we recommend a presentation to relevant stakeholders (board ofdirectors, EDC,City Manager, etc.). Architects from KSAwillwork with the Center in setting up a mutuallyagreeable time (Nights or weekends are usually good for large meetings).
Anticipated time allotment: TBDLump Sum Fee: 5500
Estimated reimbursable and administrative costs
Anticipated time allotment: TBDNot to Exceed: 5500
Anticipated time allotment: 10 weeksLump Sum Fee: $9,500
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8875 SynergyDriveMcKinney.TX7507
0
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I(SA
bwyatt@ksaeng,com
A-DYNAMIC-PERSPECTIVE
Time allotments listed above are not binding to either party. These are intended to provide theCenter with an estimate of anticipated design time.
Also,additional services, prints, or changes in scope can be provided upon request and willnotexceed the listed fee without pre-approval of the Center.
Invoicing for each item's lump sum shall correspond with the percent completion of each phaseand the end of each active month.
Please let us know if there are any questions about this process or with the above listed items. Ifthere are no questions or comments, we willprepare and transmit a standard AIAOwner/
Architect services contract.
Sincerely,
CLIENTACCEPTANCE:
Client Signature*
Date:
*Signature of this proposal is neither final nor contractually binding and is meant only as an
informal agreement to the scope and fee for a forthcoming AIAOwner/Architectcontract.
Attachments:
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Requests are due in to the City Hall by 12:00 two Mondays prior to the meeting date
0 If you wish to withdraw your request, please notify the City Secretary no later than four(4) business days prior to the meeting.
Once the topic has been presented to the Council/WEDC,persons may not request thatan item be placed on the agenda that is the same as or substantially similar in subjectmatter for six months.
Persons who speak before the Council/WEDCwill have five (5) minutes in which to maketheir presentation. Please be prepared to answer questions from the City Council
.
Citizens who attend the Council meeting as part of a group may not give their time toanother member of the group.
The City Council/WEDCBoard must abide by the Texas Open Meetings Act in respondingto remarks.
The City Council/Boardmay or may not take action on the request.
Regular City Council meetings are on the second Tuesday of each month, beginning at5:30PM, and are held in the City Council Chambers at 501 S. Main Street. Specialmeetings or workshops may be called as needed.
WEDC Board meetings are on the fourth Tuesday of each month, beginning at 5:30 PMand are held in the City Council Chambers at 501 S. Main Street. Special meetings orworkshops may be called as needed.
Allagendas are posted on the City’
Signature(s) 5?) Date
/
For officeuse only:
Application/RequestReceived By: Date:
City Administrator: Date:
5 website at www.winnsborotexas.com
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mission
Programming Update
Winnsboro Center for the Arts requests the EDC's support in funding a study by KSA,which
specializes in civilengineering and architectural design, to develop a conceptual design and architectural
plans for a new center for arts education. Projected cost of the study is $9,500.
The of the WCA is to engage people in the arts through educational programming, cultural
experiences and entertainment.
Our ?g is to integrate the arts into community life.We believe that participating in the arts promotes
creativity, entrepreneurship, and spiritual well-being which are essential for community and economic
vitality. Our long-term goal is to insure a stable infrastructureand financialsecurity for the organization.
As the ”heart of the arts” in Winnsboro, we will continue to work with the city and associated
organizations to develop Winnsboro as a desirable destination forresidents and visitorsalike.
Winnsboro Center for the Arts has experienced steady growth in recent years. The Center's gross
income has increased from $50K in 2014 to $135K in 2017. The proposed budget for 2018 is $145K. A
part—timeprogram coordinator was hired in 2016, and the budget for 2018 includes salary for a director
beginning in September.
There is increasing demand for expanded programming for both children and adults at the Center and
we are unable to meet these demands with our current facility. Use of space at the Depot has helped
but is insufficient to accommodate the growing interest in programming.
Priorities for the proposed Center for Arts Education would include classrooms, an arts—orientedplay
area, and a large multi—functionalspace which could be used for theater, concerts, art exhibits as well as
for community events.
Anticipated funding for this project would be sought from both the public and private sectors through
contributions and matching grants. Property for the project has already been secured. Having the city's
support would be a powerful asset in approaching potential donors.
A major priority has been to expand our educational programming with special emphasis on that for
children. Music lessons and classes, art mini-workshops, and expanded summer camp offerings have all
been a part of that. This summer, in addition to the two-week musical theatre camp where kids come
together and write and perform a musical, three one—weekcamps for children ages 6-10 will be offered
in theatre, art, and music.
We are also trying to work more closely with Winnsboro ISD to support and expand opportunities for
students to actively participate in the arts. Students from both the middle and high schools are
contributing painted canvases for our annual fundraiser, Starry, Starry Night. At two of our Sunday
classical concerts this past season, we worked with the middle school band director, Elliot Ayo, to
provide students with free tickets to attend. For this next season, thanks to the generosity of
Winnsboro Hardware for funding our new "Youth in Concert" program, 20 tickets will be reserved for
students at each of the four concerts.
On the adult front, workshops on various topics from mosaics to Crocheting have become increasingly
popular. Rotating art exhibits at the Center draw visitors and interested participants. We are hosting
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Executive Summary
To: Economic Development Corporation
Submitted By: City Administrator
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Investment Policy
Executive Summary:
"It is the policy of the Winnsboro Economic Development Corporation to invest public funds in a manner which will provide the greatest return with maximum security while meeting the daily cash flow demands of the City of Winnsboro Economic Development Corporation and conforming to the Public Funds Investment Act (the “Act”), Texas Government Code."
The policy must be approved by Council each year. There are no changes to this policy from previous years. Approval of the policy acknowledges the City of Winnsboro Economic Development Corporation's compliance with the Public Funds Investment Act.
An Investment Committee, consisting of the Board President, WEDC Director, Vice President, and a City Council Board Membershall meet, at least annually, to determine operational strategies and to monitor results. The annual meeting date will be in August, during the budget process. The Investment Committee shall include in its deliberation such topics as performance reports, economic outlook, portfolio diversification, maturity structure, the potential risk to the City of Winnsboro Economic Development Corporation’s funds, authorized brokers and dealers, and the target yield on the investment portfolio.
WEDC Staff recommends approval of this policy.
Suggested Action:
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Winnsboro EDC Investment PolicyPage 1
Winnsboro EDC
Investment Policy
FY 2017-2018
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Winnsboro EDC Investment PolicyPage 2
I. POLICYIt is the policy of Winnsboro EDC to invest public funds in a manner which will provide the greatest return with maximum security, while meeting the daily cash flow demands of the EDC and conforming to the Public Funds Investment Act (the “Act”), Texas Government Code.
II. SCOPEThis investment policy applies to all financial assets of Winnsboro EDC (including those presently existing, or any funds to be created in the future, or funds held in custody by Winnsboro EDC), unless expressly prohibited by law or in contravention of any depository contract between Winnsboro EDC and any depository bank.
III. OBJECTIVESThe primary objectives of Winnsboro EDC investment activities shall be: Safety, Liquidity, Yield, and Public Trust. It is the policy of Winnsboro EDC to invest public funds in a manner that is consistent with state and federal law and which will provide the highest investment return with the maximum security while meeting the daily cash flow demands of the EDC. The safety of the principal invested always remains the primary objective. All investments shall be designed and managed in a manner responsive to the public trust.
Safety
Safety of principal is the foremost objective of the investment program. Investments of Winnsboro EDC shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio.
Liquidity
Investments will be structured to enable Winnsboro EDC to meet all obligations in a timely manner. This shall be achieved by matching investment maturities with forecasted cash flow requirements and by investing in securities with active secondary markets.
Yield
It shall be the design of this policy to earn the greatest return on investments with safety as the primary and liquidity as the secondary objective of the portfolio structure. The maximum allowable stated maturity of any individual investment owned by Winnsboro EDC shall not exceed one year unless approved by the Winnsboro EDC Board.
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Winnsboro EDC Investment PolicyPage 3
Public Trust
All participants in the investment process shall seek to act responsibly as custodians of the public trust. Investment officials shall avoid any transaction that might impair public confidence in the EDC’s ability to perform their duties effectively. The Winnsboro EDC investment portfolio shall be an open public record and shall be made readily available upon request by the Mayor and Council.
IV. RESPONSIBILITY AND CONTROL
Delegation of Authority and Training
The Executive Director, and duly elected President and Vice President are designated as the Investment Officers for Winnsboro EDC and are responsible for all investment activities. The Executive Director as required by law, must attend a training session once every two years and receive 10 hours of training.
Investment Committee
An Investment Committee, consisting of the Board President, Executive Director, Vice President and a City Council Board Member shall meet at least annually to determine operational strategies and to monitor results. The annual meeting date will be in August, during the budget process. The Investment Committee shall include in its deliberation such topics as economic outlook, portfolio diversification, maturity structure, potential risk, and the target yield on the investment portfolio.
Internal Controls
The Investment Officers are responsible for establishing and maintaining an internal control structure designed to ensure that the assets of Winnsboro EDC are protected from loss, theft or misuse. The Executive Director shall annually provide for the independent review by an external auditor to ensure compliance with policies and procedures. The Investment Officers shall refrain from personal business activity that could conflict with proper execution of the City’s investment program.
Prudence
The standard of investments applied by the Investment Officers shall be the “prudent investor” rule, which states:
Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion and intelligence exercise in the management of their own affairs, not for speculation, but
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Winnsboro EDC Investment PolicyPage 4
for investment, considering the probable safety of their capital as well as the probable income to be derived.”
The investment officers, acting in accordance with written procedures and exercising due diligence, shall not be held personally liable for a specific security’s credit risk or market price changes, provided that these deviations are reported immediately and that appropriate action is taken to control adverse developments.
V. INVESTMENTSThe Investment Officers shall invest Winnsboro EDC funds with any of the following institutions or groups consistent with federal, state law, and Winnsboro EDC Charter provisions:
1. Depository bank(s) of the City;
2. Other state or national banks domiciled in Texas with offices in Winnsboro, that are insured by FDIC;
Winnsboro EDC is empowered by statute to invest in certificates of deposits issued by a state or national bank domiciled in this state and is secured by obligations guaranteed or insured by the Federal Deposit Insurance Corporation or its successor.
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Winnsboro EDC Investment PolicyPage 5
INVESTMENT COLLATERALAND SAFEKEEPING
Insurance or Collateral
Depositors holding deposits and investments of Winnsboro EDC funds that are secured by pledged collateral, shall anticipate market changes. The level of security and collateralization will be 102% of market value of principal and accrued interest on the deposits or investments less an amount insured by the FDIC.
Evidence of the pledged collateral shall be maintained by Winnsboro EDC Investment Officers. Collateral shall be reviewed to assure the market value of the pledged securities is adequate.
Authorized Investment Collateral
Winnsboro EDC will accept only the following collateral and securities:
1. FDIC insurance coverage;
All collateral shall be subject to inspection and audit by the Finance Officer or the City’s independent auditors on a reasonable business basis.
Delivery vs. Payment
The custodian’s records shall assure the notation of the EDC’s ownership of or explicit claim on pledged securities.
VI. INVESTMENT REPORTING ANDPERFORMANCE EVALUATION
At least quarterly, Investment Officers shall prepare and submit to the members of the EDC Board a written report showing the cash and investment positions of all Winnsboro EDC funds. The Report will:
1. Identify the Fund to which the cash or investment belongs;
2. Identify the source location of the invested funds;
3. Identify any restrictions as to the use of the funds;
4. Identify the rate of return being earned on the investments; and
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Winnsboro EDC Investment PolicyPage 6
5. Contain a statement that the investments comply with the adopted policy of Winnsboro EDC and the Public Funds Investment Act, Chapter 2256, Texas Government Code.
VII. INVESTMENT POLICYADOPTION
Winnsboro EDC Investment Policy shall be annually adopted by motion of the Board and resolution of the Winnsboro City Council. The Policy shall be reviewed for effectiveness on an annual basis by the Investment Committee and any modifications will be noted in the approval resolution for Winnsboro City Council.
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Executive Summary
To: Economic Development Corporation
Submitted By:
Date: February 27, 2018
Discuss/Seek Guidance/Action:
Farmers Market
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January 2018
We have been promoting the Saturday market, have been seeking new board members, and have been
reaching out to the public seeking new vendors for the upcoming season. I have been in touch with many of
last years’ vendors and as of the end of January we have commitments from at least 13 vendors who will be
returning this year. This is encouraging because many people don’t register until March.
The online market continues to run fairly smoothly. We have registrations coming in for the 2018 Saturday
market and we have added a couple of new vendors to the online market. Our latest online vendor is a baker
who follows the Texas Cottage Food laws. “Found Penny Farm” has fresh bread, granola, muffins and more
that are made from scratch and from organic grains that she grinds herself.
The board has been meeting every Wednesday since the beginning of January to plan the upcoming season.
We will be hosting the annual Bee Awareness Event - Painted Beehives Contest in June, along with
Wellapalooza also in June, a Frieda Kahlo Fest for May 5, and more plans in the works. The board will
continue to meet every Wednesday until the Market open on April 7. On Saturday February 24 we will hold a
Market Info Meeting at the Depot to answer questions from potential vendors.
We renewed our Certified Farmers’ Market status with the Texas Department of Agriculture which expired
January 31, 2018. This certification is required to be qualified to be involved in the WIC program.
We continue making Facebook posts on the farmers’ market page to promote the online market and to bring
attention to the upcoming season and recruiting vendors. We are working on press releases to inform the
public of the Vendor Info Meeting; flyers; and posters. To date we have 150 customers signed up for the
online market; an increase of 20 since last month.
A citizen addressed the City Council at the January meeting regarding a few items, one which was a remark
indicating that the Winnsboro Farmers’ Market was operating illegally. Because of the three minute time
limit she was not able to finish her remarks. However, the citizen did indicate that the market vendors were
selling by the pound with scales that are not certified and inspected by the Weights and Measurement
Department of the Texas Department of Agriculture. The markets response to this is as stated in the market
rules and regulations reviewed a few years ago by the City Council and City Attorney in that the “Health
Permits and Fees are waived by the City of Winnsboro to registered Farmers’ Market Vendors. Applicable
permits, certifications, inspections and fees remain the responsibility of the individual vendor as applicable.”
Also stated in the Farmers’ Market Rules under Vendor Responsibility is the paragraph that states “It is the
responsibility of each vendor to abide by all city, county, state and federal regulations which govern the
production, harvest, preparation, preservation, labeling and/or safety of products offered for sale at the
WINNSBORO FARMERS’ MARKET MANAGER REPORT
2018 Season
Manager: Debra Aaron – 903.629.3332 (landline)
312.307.0114 (iphone)
Email: manager@winnsborofarmersmarket.com
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Winnsboro Farmers’ Market
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January 2018
Market. Vendors are liable for their own products. The City of Winnsboro, Farmers’ Market Board, and/or
the Farmers’ Market Manager shall not be held liable for the products offered by vendors. Product and
liability insurance are the responsibility of the producer.”
The market rules do, however, insist on following food and healthy safety rules of the state of Texas which
include the Cottage Food Laws. Knowingly allowing food with potential harm to the public safety is
irresponsible and negligible. We assist vendors with providing information about Texas rules and where they
can find information online about proper labeling, food handling safety permits, Texas Health and Safety
laws, etc.
It should be known, that the Winnsboro Farmers’ Market board included the Texas Cottage Food laws in the
Winnsboro Farmers’ Market Rules after being notified by the County Health Inspector that we needed to
follow the Texas Cottage Food Laws. Our rules state: “All homemade, baked, or canned items must be in
compliance with the Texas Cottage Food Law (SB 81 of 2011 and “Texas Baker’s Bill”, HB 970 of 2013)
including adhering to packaging and labeling requirements and obtaining a Texas Food Handler’s Card. Sale
of “potentially hazardous foods” as defined by the Texas Health and Safety Code, Title 6, Chapter 437, is not
allowed at the Winnsboro Farmers’ Market.”
Facebook Likes: 2,222 (increase of 31 since December)
Facebook Posts: 11 posts, 1 boost, 1 video
2018 Vendors: 4 (early bird registrations due by March 31)
Products available at the market in November
Beef Chicken Pork
Bread Cheese Eggs Milk
Honey Jams/Jelly Yogurt
Butter Beans Cabbage Kale Lettuce Spinach Sweet Potatoes Turnips
Hand made Soaps Pecans Seeds
Knife Sharpening
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Winnsboro Farmers’ Market
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January 2018
Mileage: 380 Miles
Time/Task Log:
Meetings: 8.50 hours
Emails: 11.50 hours
Phone: 3.00 hours
Travel: 11.00 hours
Website/SS/Admin. 37.50 hours
Documents, website, Facebook, advertising, listings, etc. on the
internet, website update & maintenance, registrations, vendor logs,
budgets, printing, etc.
Mgmt. Activity: 11.00 hours Management on market days, placing/removing signs weekly,
marking booth spaces, market set up and take down, clean up,
bathroom check, managing vendors, deposits, reports, budgets,
and documents to City Hall, etc.
Total: 82.50 hours
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