Regular Meeting Tuesday, February 27, 2018 5:30 PM

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

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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.

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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

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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

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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

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Executive Summary


Submitted By: Finance Officer



WEDC Financial Reports: October and November 2017

Executive Summary:

Finance Officer will be available to answer questions.

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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

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Page 8 of 27

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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



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

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16.67% OF FISCAL YEAR


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

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ADMINISTRATION 16.67% OF FISCAL YEAR


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

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EDC DIRECTOR 16.67% OF FISCAL YEAR



___________________________________________________________________________________________________________________________

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

============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 12 of 27

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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


ACCOUNT# TITLE

ASSETS

======




_____________

455,972.59

_____________


=============

LIABILITIES

===========

_____________

_____________

FUND BALANCE/EQUITY

===================

3000 FUND BALANCE 440,002.59

_____________


_____________



_____________


_____________


=============

Page 13 of 27

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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

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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

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Firstmnou ln?llk Panecunt:OF WINNSBORO

$130.30 : ID/ll/Z017

INCLFJRICHECK

Page 18 of 27

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___________________________________________________________________________________________________________________________

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


============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 19 of 27

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___________________________________________________________________________________________________________________________

950-4016 SALES TAX SHARE 325,000.00 26,278.02 26,278.02 8.09 298,721.98




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

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___________________________________________________________________________________________________________________________

PERSONNEL ______________ ______________ ______________ ________ _____________

CONTRACTUAL

950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00


950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 0.00 0.00 5,400.00



950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 0.00 0.00 2,000.00


950-5-100-3990 BOOKKEEPING SERVICES 0.00 1,000.00 1,000.00 0.00 ( 1,000.00)


SUPPLIES ______________ ______________ ______________ ________ _____________

CAPITAL ______________ ______________ ______________ ________ _____________

RESERVES ______________ ______________ ______________ ________ _____________

TRANSFERS ______________ ______________ ______________ ________ _____________

__________________________________________________________________________


============== ============== ============== ======== =============

Page 21 of 27

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___________________________________________________________________________________________________________________________

PERSONNEL


TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00

CONTRACTUAL


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



950-5-105-3680 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)


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


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

============== ============== ============== ======== =============


============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 22 of 27

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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

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Executive Summary





WEDC Financial Reports: December 2017 and January 2018

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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


ACCOUNT# TITLE

ASSETS

======




_____________

501,237.43

_____________


=============

LIABILITIES

===========

_____________

_____________

FUND BALANCE/EQUITY

===================

3000 FUND BALANCE 440,002.59

_____________


_____________



_____________


_____________


=============

Page 2 of 21

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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

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2-22-2018 04:56 PM C I T Y O F W I N N S B O R O PAGE: 1







___________________________________________________________________________________________________________________________

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


============== ============== ============== ======== =============

EXCESS REVENUES/EXPENDITURES 5,859.00 24,827.37 61,234.84 1,045.14 ( 55,375.84)

============== ============== ============== ======== =============

Page 8 of 21

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___________________________________________________________________________________________________________________________

950-4016 SALES TAX SHARE 325,000.00 26,795.24 86,456.49 26.60 238,543.51




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

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___________________________________________________________________________________________________________________________

PERSONNEL ______________ ______________ ______________ ________ _____________

CONTRACTUAL

950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00


950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 5,391.38 99.84 8.62



950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 1,900.00 95.00 100.00




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 ______________ ______________ ______________ ________ _____________

__________________________________________________________________________


============== ============== ============== ======== =============

Page 10 of 21

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___________________________________________________________________________________________________________________________

PERSONNEL


TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00

CONTRACTUAL



950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00



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)


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


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

============== ============== ============== ======== =============


============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 11 of 21

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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


ACCOUNT# TITLE

ASSETS

======




_____________

531,668.66

_____________


=============

LIABILITIES

===========

_____________

_____________

FUND BALANCE/EQUITY

===================

3000 FUND BALANCE 440,002.59

_____________


_____________



_____________


_____________


=============

Page 12 of 21

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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


____________________________________________________________________________________________________________________________________

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

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PERIOD: 1/01/2018 - 1/31/2018


____________________________________________________________________________________________________________________________________

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

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PERIOD: 1/01/2018 - 1/31/2018


____________________________________________________________________________________________________________________________________

VOIDED CHECKS:

No Items.

Page 15 of 21

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PERIOD: 1/01/2018 - 1/31/2018


____________________________________________________________________________________________________________________________________

ADJUSTMENTS:

No Items.

Page 16 of 21

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PERIOD: 1/01/2018 - 1/31/2018


____________________________________________________________________________________________________________________________________

ERROR LISTING

TOTAL ERRORS: 0

** END OF REPORT **

Page 17 of 21

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___________________________________________________________________________________________________________________________

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

============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 18 of 21

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___________________________________________________________________________________________________________________________

950-4016 SALES TAX SHARE 325,000.00 30,286.88 116,743.37 35.92 208,256.63




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

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___________________________________________________________________________________________________________________________

PERSONNEL ______________ ______________ ______________ ________ _____________

CONTRACTUAL

950-5-100-3220 LEGAL SERVICES 15,000.00 0.00 0.00 0.00 15,000.00


950-5-100-3226 WOOD COUNTY INDUSTRIAL PMNT 5,400.00 0.00 5,391.38 99.84 8.62



950-5-100-3250 AUDIT SERVICES 2,000.00 0.00 1,900.00 95.00 100.00




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

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___________________________________________________________________________________________________________________________

PERSONNEL


TOTAL PERSONNEL 120,418.00 0.00 0.00 0.00 120,418.00

CONTRACTUAL



950-5-105-3610 TRAVEL & TRAINING 10,000.00 0.00 0.00 0.00 10,000.00



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)


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


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

============== ============== ============== ======== =============


============== ============== ============== ======== =============

Page 21 of 21

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Executive Summary





Quarterly Investment Report 9/30/2017-12/31/2017

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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

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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

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Executive Summary


Submitted By: City Secretary



Minutes - Regular WEDC Meeting 11/28/2017

Executive Summary:

Minutes moved from previous meeting; quorum requirements not met.

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Regular Meeting Minutes of the


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

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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

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Executive Summary


Submitted By:



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.

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I(SAA-DYNAMIC-PERSPECTIVE

Wednesday, January 10, 2018

Winnsboro Center for the ArtsMary White, Board President200 Market St. POBox 342Winnsboro, Texas 75494(903) [email protected]

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.

Page 1 of 3

8875 SynergyDriveMcKinney.TX75070

972.542.

Page 2 of 8

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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

Page 2 of 3

8875 SynergyDriveMcKinney.TX7507

0

Page 3 of 8

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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:

Page 3 of 3

Page 4 of 8

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TE I-[SmWINNSBOR0

Acre661'!‘/€.r~fc)vr7‘/<?u-115)

:4‘)/mn<'5cve> State: TX 9: 75 7

G: 72/ -24/§—é7/"7

Page 5 of 8

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v Wm: we -weM an we in M

/ :'1/2_p//g

//

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

Page 6 of 8

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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

Page 7 of 8

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Executive Summary


Submitted By: City Administrator



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

Page 2 of 7

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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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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

Page 4 of 7

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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.

Page 5 of 7

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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

Page 6 of 7

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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.

Page 7 of 7

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Executive Summary


Submitted By:



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: [email protected]

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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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Regular Meeting Tuesday, February 27, 2018 5:30 PM

Documents

Transcript of Regular Meeting Tuesday, February 27, 2018 5:30 PM