09-26-2024 Agenda SEDC Board Reg Meeting with packet
NOTICE OF MEETING
AGENDA
SEPTEMBER 26, 2024
6:00 P.M.
The City of Schertz Economic Development Corporation (SEDC) Board of Directors will hold a regular
monthly meeting on Thursday, SEPTEMBER 26, 2024. at 6:00 p.m. at the Hal Baldwin Municipal
Complex, Council Chambers Conference Room, Building No. 4, 1400 Schertz Parkway, Schertz, Texas.
This is an open meeting, subject to the open meeting laws of the State of Texas.
In accordance with provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code
notice is hereby given that a Possible Quorum of the governing body of the City of Schertz, Texas may
take place at this meeting.
Call to Order
1.Roll call, recognition of visitors, and review of meeting instructions for effective Board interaction
and public participation.
Hearing of Residents
2.This time is set aside for any person who wishes to address the Board. Presentations should be
limited to no more than 3 minutes. The presiding officer will call on those persons who have signed
up to speak.
Minutes
3.Approval of the minutes for the Board of Directors Regular Monthly Meeting held Thursday, July
25, 2024. (T.Miller)
4.Approval of the minutes for the Board of Directors Special Meeting held Thursday, August 29,
2024. (T.Miller)
Presentations
5.Staff briefing on SEDC monthly financial statements for the months of July 2024 and August 2024.
(S.Wayman/J.Dycus)
6.Staff briefing on Non-Disclosure Agreement with Schertz Station. (S.Wayman)
Discussion Items
7.Discussion on possible increase in the dedication of funds for the Parks CIP for the Soccer Field
Lights. (S.Wayman)
Closed Session
8.Called in accordance with Section 551.087 of the Texas Government Code, Deliberation Regarding
Economic Development Negotiations; Closed Meeting. The governmental body is not required to
conduct an open meeting (1) to discuss or deliberate regarding commercial or financial information
that the governmental body has received from a business prospect that the governmental body seeks
to have locate, stay, or expand in or near the territory of the governmental body and with which the
governmental body is conducting economic development negotiations; or (2) to deliberate the offer
SEDC Agenda September 26, 2024 Page 1 of 2
of a financial or other incentive to a business prospect.
E-80
E-84
E-83
Reconvene to Regular Session
9.Take any actions based on discussion held in closed session under Agenda Item No. 8.
Requests and Announcements
Announcements by staff:
National Night Out - October 1, 2024
Offices closed October 14, 2024 - Columbus Day
Next Regular Board Meeting - October 24, 2024
Amy Madison, Deputy Director recognized as a Board Member of the Industrial Asset Management
Council (IAMC) at the 2024 Fall Forum.
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
Adjournment
CERTIFICATION
I, Tracy Miller, Administrative Assistant, of the City of Schertz Economic Development Corporation, do hereby certify that
the above agenda was posted on the official bulletin boards on this the 20th day of September, 2024, at 5:00 p.m., which is
a place readily accessible to the public at all times and that said notice was posted in accordance with chapter 551, Texas
Government Code.
Tracy Miller
Administrative Assistant- Economic
Development
I certify that the attached notice and agenda of items to be considered by the Schertz Economic Development
Corporation Board of Directors was removed from the official bulletin board on _____day of _______________, 2024.
Name/Title:______________________________
This facility is accessible in accordance with the Americans with Disabilities Act. Handicapped parking spaces are
available. If you require special assistance or have a request for sign interpretative services or other services, please call
210-619-1070.
The Economic Development Corporation Board of Directors reserves the right to adjourn into closed session at any
time during the course of this meeting to discuss any of the matters listed above, as authorized by the Texas Open
Meetings Act.
Closed Sessions Authorized: This agenda has been reviewed and approved by the City’s legal counsel and the
presence of any subject in any Closed Session portion of the agenda constitutes a written interpretation of Texas
Government Code Chapter 551 by legal counsel for the governmental body and constitutes an opinion by the
attorney that the items discussed therein may be legally discussed in the closed portion of the meeting considering
available opinions of a court of record and opinions of the Texas Attorney General known to the attorney. This
provision has been added to this agenda with the intent to meet all elements necessary to satisfy Texas Government
Code Chapter 551.144(c) and the meeting is conducted by all participants in reliance on this opinion.
SEDC Agenda September 26, 2024 Page 2 of 2
Agenda No. 3.
SEDC MEMORANDUM
SEDC
Board Meeting:09/26/2024
Department:Economic Development Corporation
Subject:Approval of the minutes for the Board of Directors Regular Monthly
Meeting held Thursday, July 25, 2024. (T.Miller)
SUBJECT:
Approval of the minutes for the Board of Directors Regular Monthly Meeting held Thursday, July 25, 2024.
(T.Miller)
Attachments
07-25-2024
MINUTES
Thursday, July 25, 2024
The City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a Regular Monthly
Meeting on Thursday, July 25, 2024. at 6:00 p.m. at the Hal Baldwin Municipal Complex, Council Chambers
Conference Room, Building No. 4, 1400 Schertz Parkway, Schertz, Texas. This was an open meeting, subject to
the open meeting laws of the State of Texas.
In accordance with provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code notice is
hereby given that a Possible Quorum of the governing body of the City of Schertz, Texas may take place at this
meeting.
Call to Order
1.Roll call, recognition of visitors, and review of meeting instructions for effective Board interaction and
public participation.
Board Vice President Bill Dixon presided over the meeting and called it to order at 6:00 p.m.
Board of Directors Present:Staff Present:
William "Bill" Dixon, Board Vice President Scott Wayman, Executive Director
Donna Steward, Board Treasurer Ashley Ritchey, Business Engagement Manager
Mark Moody, Board Member Tracy Miller, Administrative Assistant
Reynaldo "Ray" Chavez, Board Member Brian James, Deputy City Manager
Board of Directors Absent:Others Present:
Sammi Morrill, Board President Tim Brown, Councilmember City Council EDC Liaison
Henry Hayes, Board Secretary Daryl John, John Family Properties
Eryn McElroy, Board Member Briana John, John Family Properties
Hearing of Residents
2.This time is set aside for any person who wishes to address the Board. Presentations should be limited to
no more than 3 minutes. The presiding officer will call on those persons who have signed up to speak.
No residents signed up to speak. No comments were made.
Minutes
3.Approval of the minutes for the Board of Directors Regular Monthly Meeting held Thursday, June 27,
2024. (T.Miller)
Board Vice President Bill Dixon asked for a motion to approve the Minutes of the Board of Directors
Regular Monthly Meeting held on Thursday, June 27, 2024.
Moved by Board Member Mark Moody, seconded by Board Treasurer Donna Steward.
AYE: Board Vice President Bill Dixon, Board Treasurer Donna Steward, Board Member Mark
Moody, Board Member Ray Chavez.
Unanimous affirmative vote - Motion carries.
Presentations
4.Staff briefing on SEDC monthly financial statement for the month of June 2024 and Reserve Fund
model. (S.Wayman)
Scott Wayman, Executive Director, provided a summary and overview of the SEDC Financial
Statement for the month of June 2024.
June 2024 sales tax received was $599,266.27, expenses were $22,589.69, a 5.7% increase over the year
prior. The 12-month rolling average is 3.1% still trending up. Notable expenditures include annual
membership dues to the Texas Economic Development Council (TEDC), expenses related to the
financial audit and annual reports and expenses for the ICSC conference. Total Cash & Investments
figure at the end of June was $37.5 million.
Mr. Wayman also stated that Board Treasurer Donna Steward discovered a discrepancy in the financial
totals. James Walters, Finance Director discovered a missing post to our account in the amount of
$10,018.72 for a Certificate of Deposit (CD).
5.Staff update on Schertz Station. (S.Wayman)
Scott Wayman, Executive Director gave a brief update on Schertz Station provided by Britney Schindler
with Merit. Ripps Kreusler extension has an estimated completion date of mid-November 2024.
6.Presentation by Bob Stein with NAI Signage Solutions. (S.Wayman)
Bob Stein with NAI Signage Solutions was unable to attend the meeting. Scott Wayman, Executive
Director gave a brief presentation of the project requesting help to extend Public Infrastructure
Improvements, including extension and relocation of the water line and sewer line extension.
7.Presentation by Daryl John with Las Palapas. (S.Wayman)
Scott Wayman, Executive Director introduced Daryl John. Mr. John gave a brief presentation on the
proposed location and plans for the Las Palapas project.
Public Hearing
8.Resolution 2024-8 - Authorizing an Incentive Agreement between the City of Schertz Economic
Development Corporation and NAI Signage Solutions. (S.Wayman)
Board Vice President Bill Dixon opened the public hearing at 6:20 p.m.
No public comment was made.
Board Vice President Bill Dixon closed the public hearing at 6:22 p.m.
9.Resolution 2024-9 - Authorizing an Incentive Agreement between the City of Schertz Economic
Development Corporation and Las Palapas Schertz. (S.Wayman)
Board Vice President Bill Dixon opened the public hearing at 6:23 p.m.
No public comment was made.
Board Vice President Bill Dixon closed the public hearing at 6:24 p.m.
Discussion Items
10.Resolution 2024-10 - Approving authorization by the Executive Director to execute a Consent to
Security Agreement and Collateral Assignment with Ripps Kreusler LLC.
Board Vice President Bill Dixon asked for a motion to approve Resolution 2024-10, a Resolution by the
City of Schertz Economic Development Corporation, Texas approving authorization by the Executive
Director to execute a Consent to Security Agreement and Collateral Assignment with Ripps Kreusler
LLC.
Moved by Board Member Ray Chavez, seconded by Board Member Mark Moody.
AYE: Board Vice President Bill Dixon, Board Member Mark Moody, Board Member Ray Chavez.
NAY: Board Secretary Donna Steward.
Motion carries 3-1.
Board Vice President Bill Dixon recessed Open Session to Closed Session at 6:28 p.m.
Closed Session
11.Called in accordance with Section 551.087 of the Texas Government Code, Deliberation Regarding
Economic Development Negotiations; Closed Meeting. The governmental body is not required to
conduct an open meeting (1) to discuss or deliberate regarding commercial or financial information that
the governmental body has received from a business prospect that the governmental body seeks to have
locate, stay, or expand in or near the territory of the governmental body and with which the
governmental body is conducting economic development negotiations; or (2) to deliberate the offer of a
financial or other incentive to a business prospect.
Project E-95
Project E-96
Start time: 6:29 p.m.
End time: 6:50 p.m.
Board Vice President Bill Dixon reconvened to Open Session at 6:51 p.m.
Reconvene to Regular Session
12.Take any actions based on discussion held in closed session under Agenda Item No. 11.
Scott Wayman, Executive Director recommended approval of resolutions 2024-8 and 2024-9.
Board Vice President Bill Dixon asked for a motion to approve Resolution 2024-8, a Resolution by the
City of Schertz Economic Development Corporation, Texas authorizing the Executive Director of the
City of Schertz Economic Development Corporation to enter into an Incentive Agreement with NAI
Signage Solutions.
Moved by Board Member Mark Moody, seconded by Board Treasurer Donna Steward.
AYE: Board Vice President Bill Dixon, Board Treasurer Donna Steward, Board Member Mark
Moody, Board Member Ray Chavez.
Unanimous affirmative vote - Motion carries.
Board Vice President Bill Dixon asked for a motion to approve Resolution 2024-9, a Resolution by the
City of Schertz Economic Development Corporation, Texes authorizing the Executive Director of the
City of Schertz Economic Development Corporation to enter into an Incentive Agreement with Las
Palapas Schertz.
Moved by Board Treasurer Donna Steward, seconded by Board Member Ray Chavez.
AYE: Board Vice President Bill Dixon, Board Treasurer Donna Steward, Board Member Mark
Moody, Board Member Ray Chavez.
Unanimous affirmative vote - Motion carries.
Requests and Announcements
Announcements by staff:
Next Regular Board Meeting - August 22, 2024
Requests by Board Members to place items on a future SEDC Board Meeting agenda.
Adjournment
Board Vice President Bill Dixon adjourned the meeting at 6:58 p.m.
MINUTES PASSED AND APPROVED THIS ____ DAY __________________ 2024.
____________________
Sammi Morrill
Board President
___________________
Henry Hayes
Board Secretary
Agenda No. 4.
SEDC MEMORANDUM
SEDC
Board Meeting:09/26/2024
Department:Economic Development Corporation
Subject:Approval of the minutes for the Board of Directors Special Meeting held
Thursday, August 29, 2024. (T.Miller)
SUBJECT:
Approval of the minutes for the Board of Directors Special Meeting held Thursday, August 29, 2024. (T.Miller)
Attachments
08-29-2024
MINUTES
Thursday, August 29, 2024
The City of Schertz Economic Development Corporation (SEDC) Board of Directors met for a Special Meeting on Thursday,
August 29, 2024. at 6:00 p.m. at the Hal Baldwin Municipal Complex, Council Chambers Conference Room, Building No. 4,
1400 Schertz Parkway, Schertz, Texas. This was an open meeting, subject to the open meeting laws of the State of Texas.
In accordance with provisions of the Texas Open Meetings Act, Chapter 551, Texas Government Code notice is hereby given
that a Possible Quorum of the governing body of the City of Schertz, Texas may take place at this meeting.
Call to Order
1.Roll call, recognition of visitors, and review of meeting instructions for effective Board interaction and public
participation.
Board President Sammi Morrill presided over the meeting and called it to order at 6:00 p.m.
Board of Directors Present:Staff Present:
Sammi Morrill, Board President Scott Wayman, Executive Director
William "Bill" Dixon, Board Vice President Amy Madison, Deputy Director
Henry Hayes, Board Secretary Ashley Ritchey, Business Engagement Manager
Eryn McElroy, Board Member Tracy Miller, Administrative Assistant
Reynaldo "Ray" Chavez, Board Member Brian James, Deputy City Manager
Board of Directors Absent:Others Present:
Donna Steward, Board Treasurer Tim Brown, Councilmember City Council EDC Liaison
Mark Moody, Board Member Allison Heyward, Councilmember City Council EDC Liaison
Hearing of Residents
2.This time is set aside for any person who wishes to address the Board. Presentations should be limited to no more
than 3 minutes. The presiding officer will call on those persons who have signed up to speak.
No residents signed up to speak. No comments were made.
Presentations
3.Introduction of new Deputy Director Amy Madison. (S.Wayman)
Scott Wayman, Executive Director introduced Amy Madison, Deputy Director and provided the Board with a
synopsis of her work experience.
Discussion Items
4.Resolution 2024-11 - Briefing, public hearing and possible action on recommending approval by the City Council
for the proposed Schertz Economic Development Corporation FY 2024-25 Budget and Reserves. (S.Wayman)
Scott Wayman, Executive DIrector presented an overview of the fiscal year 2024-25 proposed budget. Total Fund
balance is estimated $40.2 million for October 1, 2024. Total revenue is estimated at $8.4 million, total project costs
for SEDC contractual obligations is estimated at $17.2 million, including Core 5, Kellum, Titan Phase 2, Caterpillar
expansion, Schertz Station, Palapas Schertz, NAI Signs, Lookout Rd and the Soccer Field Lights.
Board President Sammi Morrill opened the public hearing at 6:16 p.m.
No comments were made.
Board President Sammi Morrill closed the public hearing at 6:16 p.m.
Board President Sammi Morrill asked for a motion to approve SEDC Resolution 2024-11, a resolution by the City of
Schertz Economic Development Corporation, Texas providing a recommendation to the City Council for the SEDC
Fiscal Year 2024-25 Budget, and other matters in connection therewith.
Moved by Board Member Eryn McElroy, seconded by Board Secretary Henry Hayes.
AYE: Board President Sammi Morrill, Board Vice President Bill Dixon, Board Secretary Henry Hayes,
Board Member Eryn McElroy, Board Member Ray Chavez.
Unanimous affirmative vote - Motion carries.
Adjournment
Board President Sammi Morrill adjourned the meeting at 6:17 p.m.
MINUTES PASSED AND APPROVED THIS _____ DAY _________________ 2024.
____________________
Sammi Morrill
Board President
___________________
Henry Hayes
Board Secretary
Agenda No. 5.
SEDC MEMORANDUM
SEDC
Board Meeting:09/26/2024
Department:Economic Development Corporation
Subject:Staff briefing on SEDC monthly financial statements for the months of
July 2024 and August 2024. (S.Wayman/J.Dycus)
SUBJECT:
Staff briefing on SEDC monthly financial statements for the months of July 2024 and August 2024.
(S.Wayman/J.Dycus)
Attachments
July Financials
August Financials
620-SED CORPORATION
FINANCIAL SUMMARY OVERVIEW
Revenues
Sales Tax 553,865.47$ Payment Received in July*
7.9% Annual Increase
3.2%12-Month Rolling Average
Expenses
CHMURA ECONOMICS 5,000.00$
GREATER:SATX 3,603.88$
THE RETAIL COACH, LLC 3,250.00$
Gaylord Hotels-SelectUSA Investment Summit 1,217.76$
2024 IEDC Annual Conference Registration 1,300.00$
Year-to-Date
Total Revenue 7,361,588.49$
Total Expenses 871,582.39$
Over/Under 6,490,006.10$
Cash & Investments
Cash 877,192.15$
Investments 37,372,185.40$
Total 38,249,377.55$
*sales taxes are delayed 2 months from received to earned. Sales Taxes recognized in report are estimates and are adjusted to actual when payments are received.
C I T Y O F S C H E R T Z
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REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: July 31st, 2024
1 of 7
620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
FINANCIAL SUMMARY BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
REVENUE SUMMARY
Taxes 7,092,000 509,993.00 5,470,997.00 5,623,777.00 - 1,468,223.00 79.30%
Fund Transfers - - - 190,392.00 - (190,392) 0.00%
Miscellaneous 1,315,000 163,278.48 989,943.04 1,547,419.49 - (232,419.49) 117.67%
TOTAL REVENUES 8,407,000 673,271.48 6,460,940.04 7,361,588.49 - 1,045,411.51 87.56%
EXPENDITURE SUMMARY
NONDEPARTMENTAL
City Supported Services*11,677,510 - 81,944.29 58,984.70 - 11,618,525.30 0.51%
TOTAL NONDEPARTMENTAL 11,677,510 - 81,944 58,984.70 - 11,618,525.30 0.51%
ECONOMIC DEVELOPMENT
Personnel Services 24,575 2,749.40 12,895.76 14,310.54 - 10,264.46 58.23%
Supplies & Equipment 61,175 5,171.04 31,732.02 19,719.03 - 41,455.97 32.23%
City Supported Services 214,500 (70.61) 49,413.13 3,616.85 - 210,883.15 1.69%
Utility Services 975 118.49 139.69 373.57 - 601.43 38.31%
Operating Expense 398,135 9,996.55 89,504.09 218,966.70 - 179,168.30 55.00%
Professional Services 61,300 438.00 43,695.50 8,728.00 - 52,572.00 14.24%
Fund Charges/Transfers 546,883 - 542,221.00 546,883.00 - - 100.00%
TOTAL ECONO DEVELOPMENT 1,307,543 18,402.87 769,601.19 812,597.69 - 494,945.31 62.15%
TOTAL EXPENDITURES 12,985,053 18,402.87 851,545.48 871,582.39 - 12,113,470.61 6.71%
** REVENUE OVER(UNDER) EXPEND (4,578,053) 654,868.61 5,609,395 6,490,006
*$25,000 has been temporarily returned to the City in May 2024, but this will be paid out again at the request of the receiving company
C I T Y O F S C H E R T Z
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REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: July 31st, 2024
2 of 7
620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
REVENUES BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
Taxes
000-411500 Sales Tax Revenue (4B)7,092,000 509,993.00 5,470,997.00 5,623,777.00 - 1,468,223.00 79.30%
TOTAL Taxes 7,092,000 509,993.00 5,470,997.00 5,623,777.00 - 1,468,223.00 79.30%
Fund Transfers
000-486000 Transfer In - - - 190,392.00 - (190,392.00) 0.00%
TOTAL Fund Transfers - - - 190,392.00 - (190,392.00) 0.00%
Miscellaneous
000-491000 Interest Earned 15,000 832.48 9,217.04 9,971.49 - 5,028.51 66.48%
000-491200 Investment Earnings 1,300,000 161,346.00 980,726.00 1,536,348.00 - (236,348.00) 118.18%
000-497000 Misc Income - 1,100 - 1,100.00 - (1,100.00) 0.00%
TOTAL Miscellaneous 1,315,000 163,278.48 989,943.04 1,547,419.49 - (232,419.49) 117.67%
TOTAL REVENUES 8,407,000 673,271.48 6,460,940.04 7,361,588.49 - 1,045,411.51 87.56%
C I T Y O F S C H E R T Z
REVENUE REPORT (UNAUDITED)
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AS OF: July 31st, 2024
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Investment
Cash in Bank Type Yield Maturity Amount
Claim on Operating Cash Pool-Checking Bank 5.37 -877,192.15$
Cash in Investments
Texas Class Investment-Economic Development Corp Pool*5.43 -35,052,949.39
Schertz Bank & Trust-Certificate of Deposit 1 Year CD 3.75 5/10/2025 1,183,962.21
Schertz Bank & Trust-Certificate of Deposit 1 Year CD 3.50 1/5/2025 1,135,273.80
Total Cash in Bank & Investments 38,249,377.55$
*Local Government Investment Pool, most comparable to a Money Market Mutual Fund
CASH IN BANK AND INVESTMENTS
AS OF: July 31st, 2024
SED CORPORATION
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16.3%-0.2%
3.9%
3.3%
-4.0%
-2.5%6.6%
5.3%5.7%
7.9%
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP
4B SALES TAX
By Collection Month
2023-24 2022-23 2021-22 2020-21
5 of 7
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
10
1
10
3
10
5
10
7
12 Month Rolling Average
Oct 2014 -Present
Rolling 12 Month Average Long Term Average
6 of 7
VENDOR NAME DESCRIPTION AMOUNT
SED CORPORATION ASHLEY RITCHEY Emerging Leaders Membership-A Ritchey 89.50
CITIBANK Margartaville Resort-TEDC Mid-Year Conf 6/3/24 236.17
Margaritaville Resort-TEDC Mid-Year Conf 6/7/24 472.34
Hilton Garden Inn-TCMA Conference 663.39
2024 TML Conf-S.Wayman 510.00
Grey House Bloom-Sympathy Plant-CC Brown-Liaison 78.00
Constant Contact-mthly subscription 55.70
OpenAI-ChatGRT mnthly subscription 21.28
OpenAI-monthly subscription 18.72
Constant Contact-monthly subscription 45.35
Adobe Stock-monthly subscription 29.99
H.E.B.-Regional Job Fair raffle gift-7/25/24 100.00
Northeast Partnership Luncheon-S.Wayman 20.00
Delicious Garden-Lunch w/Tom Turk, Engineer Firm 27.39
American Airline Bag Check-SelectUSA Invest Summit 35.00
Gaylord Hotels-SelectUSA Investment Summit 1,217.76
Priceline-United Airlines-IEDC Conf 223.93
2024 IEDC Annual Conference Registration 1,300.00
Southwest Airline-IMTS Conf Flight 256.09
Texas Economic Development Corporation TEDC 2024 Annual Conf Registration-Ashley Ritchey 700.00
CHMURA ECONOMICS Annual Subscription 5,000.00
CITY OF CIBOLO 62.50
EDC CITY OF CIBOLO RCPT 03654617 EDC CITY OF CIBOLO (170.61)
WEX BANK 0111632 - WEX BANK 118.49
THE RETAIL COACH, LLC Market Analysis 3,250.00
GREATER:SATX 2024 ICSC Activiation 3,603.88
Auditors fee transfer FY 22-23 - JLD 300.00
Denton, Navarro, Rodriguez Bernal Santee & Zech Legal Services Rendered June 1-30, 2024 138.00
TOTAL:$18,402.87
July 2024 PAYABLES REPORT
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620-SED CORPORATION
FINANCIAL SUMMARY OVERVIEW
Revenues
Sales Tax 568,723.73$ Payment Received in August*
-4.6% Annual Decrease
2.9%12-Month Rolling Average
Expenses
COSTAR REALTY INFORMATION, INC 6,912.72$
CITIBANK 1,416.00$
Year-to-Date
Total Revenue 8,210,925.70$
Total Expenses 882,354.10$
Over/Under 7,328,571.60$
Cash & Investments
Cash 425,910.92$
Investments 38,545,399.04$
Total 38,971,309.96$
*sales taxes are delayed 2 months from received to earned. Sales Taxes recognized in report are estimates and are adjusted to actual when payments are received.
C I T Y O F S C H E R T Z
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REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: August 31st, 2024
1 of 7
620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
FINANCIAL SUMMARY BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
REVENUE SUMMARY
Taxes 7,092,000 687,436.97 6,061,635.05 6,311,213.56 - 780,786.44 88.99%
Fund Transfers - - - 190,391.66 - (190,392) 0.00%
Miscellaneous 1,315,000 161,901.12 1,131,319.80 1,709,320.48 - (394,320.48) 129.99%
TOTAL REVENUES 8,407,000 849,338.09 7,192,954.85 8,210,925.70 - 196,074.30 97.67%
EXPENDITURE SUMMARY
NONDEPARTMENTAL
City Supported Services*11,677,510 - 81,944.29 58,984.70 25,000.00 11,593,525.30 0.72%
TOTAL NONDEPARTMENTAL 11,677,510 - 81,944 58,984.70 25,000 11,593,525.30 0.72%
ECONOMIC DEVELOPMENT
Personnel Services 24,575 - 14,302.94 14,310.54 - 10,264.46 58.23%
Supplies & Equipment 61,175 7,718.14 31,903.12 27,437.17 - 33,737.83 44.85%
City Supported Services 214,500 (236.55) 51,422.04 3,380.30 - 211,119.70 1.58%
Utility Services 975 - 139.69 373.57 - 601.43 38.31%
Operating Expense 398,135 3,037.09 92,399.65 222,003.82 - 176,131.18 55.76%
Professional Services 61,300 253.00 44,046.50 8,981.00 - 52,319.00 14.65%
Fund Charges/Transfers 546,883 - 542,221.00 546,883.00 - - 100.00%
TOTAL ECONO DEVELOPMENT 1,307,543 10,771.68 776,434.94 823,369.40 - 484,173.60 62.97%
TOTAL EXPENDITURES 12,985,053 10,771.68 858,379.23 882,354.10 25,000.00 12,077,698.90 6.99%
** REVENUE OVER(UNDER) EXPEND (4,578,053) 838,566.41 6,334,576 7,328,572
*$25,000 has been temporarily returned to the City in May 2024, but this will be paid out again at the request of the receiving company
C I T Y O F S C H E R T Z
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REVENUE AND EXPENSE REPORT (UNAUDITED)
AS OF: August 31st, 2024
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620-SED CORPORATION CURRENT CURRENT PRIOR YEAR CURRENT Y-T-D BUDGET % OF
REVENUES BUDGET PERIOD Y-T-D ACTUAL Y-T-D ACTUAL ENCUMBR BALANCE BUDGET
Taxes
000-411500 Sales Tax Revenue (4B)7,092,000 687,436.97 6,061,635.05 6,311,213.56 - 780,786.44 88.99%
TOTAL Taxes 7,092,000 687,436.97 6,061,635.05 6,311,213.56 - 780,786.44 88.99%
Fund Transfers
000-486000 Transfer In - - - 190,391.66 - (190,391.66) 0.00%
TOTAL Fund Transfers - - - 190,391.66 - (190,391.66) 0.00%
Miscellaneous
000-491000 Interest Earned 15,000 - 10,518.67 9,971.49 - 5,028.51 66.48%
000-491200 Investment Earnings 1,300,000 161,901.12 1,120,801.13 1,698,248.99 - (398,248.99) 130.63%
000-497000 Misc Income - - - 1,100.00 - (1,100.00) 0.00%
TOTAL Miscellaneous 1,315,000 161,901.12 1,131,319.80 1,709,320.48 - (394,320.48) 129.99%
TOTAL REVENUES 8,407,000 849,338.09 7,192,954.85 8,210,925.70 - 196,074.30 97.67%
C I T Y O F S C H E R T Z
REVENUE REPORT (UNAUDITED)
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AS OF: August 31st, 2024
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Investment
Cash in Bank Type Yield Maturity Amount
Claim on Operating Cash Pool-Checking Bank 5.34 -425,910.92$
Cash in Investments
Texas Class Investment-Economic Development Corp Pool*5.43 -36,214,850.51
Schertz Bank & Trust-Certificate of Deposit 1 Year CD 3.75 5/10/2025 1,195,274.73
Schertz Bank & Trust-Certificate of Deposit 1 Year CD 3.50 1/5/2025 1,135,273.80
Total Cash in Bank & Investments 38,971,309.96$
*Local Government Investment Pool, most comparable to a Money Market Mutual Fund
CASH IN BANK AND INVESTMENTS
AS OF: August 31st, 2024
SED CORPORATION
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16.3%-0.2%
3.9%
3.3%
-4.0%
-2.5%6.6%
5.3%5.7%
7.9%
-4.6%
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP
4B SALES TAX
By Collection Month
2023-24 2022-23 2021-22 2020-21
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-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 67 69 71 73 75 77 79 81 83 85 87 89 91 93 95 97 99
10
1
10
3
10
5
10
7
12 Month Rolling Average
Oct 2014 -Present
Rolling 12 Month Average Long Term Average
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VENDOR NAME DESCRIPTION AMOUNT
SED CORPORATION ASHLEY RITCHEY Per Diem - IEDC 2024 Annual Conference 376.50
SCOTT WAYMAN Per Diem - IMTS 2024 Annual Conference 276.50
COSTAR REALTY INFORMATION, INC CoStar Annual Subscription fee 6,912.72
CITIBANK FormAssembly-mnthly subscription 99.00
FormAssembly Monthly Subscription 99.00
Adobe Stock Monthly Subscription 29.99
Adobe Creative Cloud - Annual Subscription 659.88
OpenAI - Monthly Subscription 20.00
Constant Contact-mthly subscription 52.25
Holly Malish Apr 2024 FormAssembly dup pymt (99.00)
Ashley Ritchey Apr 2024 Constant Contact dup pymt (55.70)
Executive Advertising Promotional Products 14.66
Congress Plaza Hotel Deposit 1.00
United/SpiritAirlines-Flight to NY 12/8-11/2024 276.34
Holisto Hotel Bkg-Park South Hotel-NY 12/8-11/2024 1,416.00
Siam Cuisine-Business Lunch w/Commissioner Calvert 88.64
The Watermark Group-Business cards-Amy Madison 49.00
Notarize, Inc-notarization for incentive agreement 90.00
UBEO, LLC MONTHLY COPIER CHARAGES 276.56
UBEO, LLC MONTHLY COPIER CHARAGES 276.55
Denton, Navarro, Rodriguez Bernal Santee & Zech Legal Services Rendered July 1-31, 2024 253.00
EDC Spring Job Fair Refund (170.60)
New Braunfels Chamber 5 Refund (170.61)
SUBTOTAL:10,771.68
TOTAL:$10,771.68
AUGUST 2024 PAYABLES REPORT
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