Minutes EDC 4B 09/08/1997MINUTES OF REGULAR SESSION
ECONOMIC DEVELOPMENT CORPORATION
TOWN OF TROPHY CLUB
September 8, 1997
STATE OF TEXAS
COUNTY OF DENTON
The Economic Development Corporation of the Town of Trophy Club, Texas met in a regular
session September 8, 1997 The meeting was held within the boundaries of the Town and was
open to the public.
DIRECTORS PRESENT:
Robert Burns
Terry Christlieb
Dan Heath
Marshall Engelbeek
DIRECTORS ABSENT:
David Garlitz
John Carter
Pam Cates
President
Vice President
Secretary
Director
Treasurer (resigned)
Director
Director
STAFF AND GUEST(S) PRESENT:
Karen Sadri Asst. Secretary
Billy Hughes Chairperson -Parks and Recreation Committee
President Robert Burns called the meeting to order and announced a quorum at 7:10 p.m.
APPROVE MINUTES OF AUGUST 11, 1997 MEETING:
Director Engelbeek moved to accept the minutes of the August 11, 1997 meeting as written.
Director Heath seconded; motion passed unanimously.
REVIEW TCEDC FINANCIAL STATEMENTS ENDING AUGUST 31,1997:
No changes were needed. Directors saw no need to vote, financial statements were accepted as
presented.
DISCUSS RESCINDING THE MOTION FOR THE ALLOCATION OF FUNDS TO
IMPROVE PARKING FOR HARMONY PARK EVENTS:
Following discussion, Director Engelbeek moved to remove from the budget, the $10,000
allocated to improve parking for Harmony Park events that was approved at the August 11, 1997.
meeting. Director Heath seconded; motion passed unanimously.
Page 2
TCEDC
Regular Session
September 8, 1997
DISCUSS AND CREATE A BUDGET DRAFT FOR THE 1997-1998 FISCAL YEAR:
During the discussion, Director Christlieb moved to allocate no more than $100,000 for fiscal
year 1997-1998 to purchase and install new playground equipment for Harmony Park contingent
upon the Town of Trophy Club not providing funding for the same cause. Director Engelbeek
seconded; motion passed with a majority vote. Voting for were Directors Englebeck and
Christlieb. Voting against was Director Heath.
See attached copy of 1997-1998 budget, as prepared by Greg Guilluame, Senior Accountant for
the Town of Trophy Club.
OTHER BUSINESS:
The tentative resignation of David Garlitz was discussed. President Burns suggested, upon the
receipt of Mr. Garlitz' letter to appoint Scott Smith to the vacant position.
The next regular meeting will be Monday, October 10, 1997.
ADJOURN:
Director Heath moved to adjourn at 8:37 p.m. Director Engelbeck seconded; motion passed
unanimously.
Robert Burns, President
Trophy Club Economic Development Corporation
Trophy Club Economic Development Corporation
11/3/97 klm
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113 Economic Development Corporation
Account '96-'97 '97-98
Number Description Actual Budget
4020
City Sales Tax
70,224
83,600
4515
Interest Income
806
400
Total Revenues
71,030
84,000
EXPENDITURES
TOTAL PERSONNEL SERVICES
0
0
ADMINISTRATIVE EXPENSES
5110
Bank Charges
29
110
5160
Miscellaneous
0
6,890
5170
Office Supplies
14
0
5185
Printing
240
3,000
5218
Dues & Memberships
361
0
TOTAL ADMINISTRATIVE EXPENSES
644
10,000
PROFESSIONAL & CONTRACTUAL SERVICES
6040
Legal Fees
1,647
0
6055
Professional Outside Services - Web Site
0
700
TOTAL PROFESSIONAL & CONTRACTUAL SERVICES
1,647
700
CAPITAL EXPENDITURES
9536
Play Equipment & Installation
0
100,000
TOTAL CAPITAL EXPENDITURES
0
100,000
TOTAL EXPENDITURES
2,291
110,700