BACKGROUND
The Sachse Economic Development Corporation's Treasurer prepares a report each month to update the Board concerning the current year's budget monitoring. This month's report consists of the summary report presented to the City Council covering May 2023. Also included is a preliminary line-item report and balance sheet for June 2023.
RECOMMENDATION
Accept the monthly revenue and expenditure report for the period ending May 31, 2023.
BACKGROUND
The Sachse Economic Development Corporation's Treasurer prepares a report each month to update the Board concerning the current year's budget monitoring. This month's report consists of the summary report presented to the City Council covering June 2023. Also included is a preliminary line-item report and balance sheet for July 2023.
RECOMMENDATION
Accept the monthly revenue and expenditure report for the period ending June 30, 2023.
BACKGROUND
Announcements are made at this time for informational purposes only.
POLICY CONSIDERATION
There are no policy considerations affiliated with this item.
RECOMMENDATION
Receive any reports and presentations by the Sachse Economic Development Corporation President, Board Members, Executive Director, and staff regarding items of community interest; special events; announcements and activities; office, industrial, commercial, or retail business retention; and marketing projects.
BACKGROUND
The Sachse Economic Development Corporation budget contains an account code for a Local Business Grant Program. The purpose of this agenda item is to have a policy discussion about this program. On November 17, 2022, the Board held a discussion about small business grants and local business grants. No action was taken during that meeting.
At the June 22 and July 20 EDC Board meetings, the Board discussed this program again and provided additional direction to staff in terms of the details of the program. No action was taken during these meetings.
At its August 7 meeting, City Council provided direction on the reestablishment of this program. Staff did not request action be taken from City Council, as they will approve the program via adoption of the annual EDC Budget.
OVERVIEW
During the FY 2023 budget planning and approval process, money was not specifically allocated to the local business grant account code as staff wanted first to receive policy direction from the Economic Development Corporation.
POLICY CONSIDERATION
The EDC follows statutory requirements relative to economic development projects. Currently, there is not an active grant distribution policy for local business grants.
RECOMMENDATION
Discuss and consider approval of the proposed local business grant program.
BACKGROUND
Staff has put together the FY 2023-2024 Economic Development Corporation budget to be consistent with the strategic goals and objectives of the Board.
OVERVIEW
Each year the EDC Board must approve an annual budget for the following fiscal year.
POLICY CONSIDERATION
Approval of the proposed budget by the EDC Board is necessary for it to be included in the overall City of Sachse Budget and then to be approved by Ordinance of the City Council.
RECOMMENDATION
Approve the Sachse Economic Development Corporation FY 2023-2024 Budget.