6-26-2014 Minutes SEDC Board Reg Mtg7
ECONOMIC DEVELOPMENT
The City of Schertz Economic Development Corporation (SE C) Board of Directors met for a Regular
Monthly Meeting on Thursday, June 26"', 2014 at 6.-00 p° m. in the City Council Chambers, Conference
Room, 1400 Schertz Parkway, Schertz, Texas. This is an open meeting, subject to the open meeting laws of
the State of Texas.
1. CALL TO ORDER
President Brown called the meeting to order at 6:00 p.m. and welcomed everyone in attendance.
2. RoH call and recognition of visitors.
Board of Directors:
Absent:
Board Member Angelina Kiser — Vice President
Others Present:
Jim Fowler — Councilmember
Juanita Morris
1<"iva Morris
Robert Brockman
Ida Morris
Dreisha Morris
3. Oath of office for appointed SEDC Board Members for the term period of 5/31/2014 to
5/31/2016 to be administered to: Rosemary Scott, Sydney Verinder, Marvin Thomas and
Grady Morris, Sr. (B. Dennis — City Secretary)
City Secretary administered the Oath of Office to Board Members: Rosemary Scott, Sydney Verinder,
Marvin Thomas and Grady Morris, Sr.
Page I of 5 Schutz EDC Minutes 6-26-2014
Mr. Brockman commented • the new coding for projects.
5. Consider/Dis cuss /Act on approval of the Minutes forte Board of Directors Regular
Monthly Meeting held on Thursday, February 27 th 2014.
A Motion to approve the Minutes for the Board of Directors Regular Monthly Meeting held on
Thursday, February 27', 2014 was made by Mr. M. Thomas. Seconded by Mr. R. Richard. Motion
passed unanimously.
6. Review of the SEDC Monthly Financial Report for the months of February, March, April and
May 2014. (J. Walters — Senior Bud Lyet Analyst)
Mr. Walters provided an overview of the SEDC Monthly Financial Statement Report for the months
of February, March, April and May 2014.
7. Consider/Dis cuss /Act on approval for recommendation to the City Council for the propose-*7
SEDC FY 2014-15 Budget. (D. Gwin — Executive Director)
Mr. Gwin explained that the budget presented to the Board builds upon efforts that were put into
place during previous years. The reductions reflect unnecessary expenses and reallocate spending to
those programs that better reflect a more strategic departmental focus.
The most significant changes proposed in the FY 2014-15 Budget included the following:
* Increased Sales Tax revenue by 4% for budgeting purposes.
* Reduced Non-Departmental Expenses for the EMS Buildings by 75% as per the 4 year plan.
Next budget year, 100% of the EMS Building expenses will be removed from the SEDC's
Budget.
will allow the City to exhibit at national trade shows.
* Decreased SEDC budget by 7.7% from the FY 2013-14 year end estimate.
* Created a budget surplus of $556,168.
A Motion to approve and to forward the proposed SEDC Budget FY 2014-2015 as presented to the
City Council was made by Mr. R. Richard. Seconded by Mt. S. Verinder. Motion passed
unanimously.
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8. Update on changes for the Foreign Trade Zone (FTZ) #80 to the Alternative Site Framework
(ASF) new service area. (D. Gwin — Executive Director)
9. Director's Report. (D. Gwin — Executive Director)
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10. Requests by Board Members to Executive Director for information.
No items were requested.
President Brown recessed the Regular Meeting into executive session at 6:47 p.m.
Start Time: 6:48 p.m.
End Time: 7:25 p.m.
Start Time: 6:48 p.m.
End Time: 7:25 p.m.
President Brown reconvened into Regular Session at 7:26 p.m.
Discussion and appropriate action deemed necessary as discussed during Executive Session.
No Action was taken.
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IMIMMM
President Brown adjourned the meeting at 7:27 pm.
PASSED AND APPROVED THIS 28 lh DAY OF AUGUST 2014.
Tim Brown — President
Rosemary Scott — Secretary /Treasurer
Page 5 of 5 Schertz EDC Minutes 6-26-2014