HomeMy WebLinkAbout07/12/00 EDC MINUTES
THE COLONY ECONOMIC DEVELOPMENT CORPORATION
REGULAR BOARD MEETING
CITY HALL COUNCIL CHAMBERS
JULY 12, 2000
Present: President John Gordon
Vice President Steven Sims
Treasurer A1 Garcia
Secretary Delaina Hammock
Member Bob Norris
Ex-officio Member Sue Walden
Staff.' Tony Johnston
Tom Terrall
Cindi Lane
Item 1.1. Call to Order: President Gordon called the meeting to order at 7:05 p.m. and
led in the Pledge of Allegiance.
2.0 CONSENT AGENDA
Item 2.1. Reports: Tony Johnston discussed the check register, the cash flow projection,
the April sales tax allocation summary, the monthly lA cent sales tax graph, and
the status of the advertising campaign. President Gordon questioned
administrative expenses which still showed a salary for an economic director for
the months of March, April and May. Mr. Johnston indicated that this expenditure
not used would still be reserved and roll over to the fund balance. Also discussed
was a report of the North Texas Commission luncheon held at DFW Airport
concerning expansion of the airport, which was attended by Mr. Johnston and
Cindi Lane on June 29, 2000. Mr. Johnston expressed his gratitude for serving as
interim executive director for the board during the past three months and
introduced Thomas A. Terrall, Jr. as the new economic development director.
President Gordon welcomed Mr. Terrall on behalf of the board and stated that he
and the board are looking forward to working with him.
Item 2.2. Approval of the minutes of the board meeting held June 21, 2000: A motion
was made by Steven Sims to approve the minutes for the board meeting held June
21, 2000. Al Garda seconded the motion and the motion carded with all ayes.
3.0 EX-OFFICIO MEMBER, PUBLIC COMMENTS
Item :}.1. Report of 4B meetings: Sue Walden had no report or update because the 4B
board has not met since the June 21, 2000 4A board meeting. The 4B board is
scheduled to have a meeting on Thursday, July 13, 2000.
Item 3.2. Public Input: There was no public input.
4.0 REGULAR AGENDA
Item 4.1. Discussion and appropriate action regarding a proposal from the finance
department concerning accounting services for the EDC: Mr. Johnston made a
proposal for all accounting services to be conducted by the finance department.
He explained the importance of having all city accounting done in the same
manner using the same soflwvare accounting system. Mr. Johnston pointed out that
the 4B board has decided to go with the proposal and beginning the month of July
the finance department will take care of all accounting procedures. Mr. Johnston
pointed out that the recommendation of the auditor was for the City to implement
an accounting system to include a trial balance and general ledger for its
component units. There was discussion of different kinds of accounting options
for the 4A board to do. President Gordon suggested that the board table this
agenda item to give the new economic director, Mr. Terrall, an opportunity to
review the options and make a recommendation at the next meeting. Mr. Garcia
made a motion to table this agenda item.
Item 4.2 Discussion and appropriate action regarding a proposal from the finance
department to participate in the hiring of a new accountant for fiscal year
2000-2001: Mr. Johnston informed the board that the finance department is
requesting an additional accountant in the 2000-2001 budget year. The 4B board
has agreed to share the cost for the new position. Mr. Johnston proposed for the
board to consider sharing in the cost for this accountant with the 4B board and the
city, dividing the cost up into thirds. There was discussion concerning the amount
of time that the accountant would spend specifically on the 4A financial work. A
suggestion was made to keep track of time spent on each entity. Ms. Hammock
made a motion to table this agenda item for 30 days to allow time for Mr. Terrall
to review this idea and discuss it at the August meeting.
Item 4.3. Discussion and appropriate action regarding appointing a negotiation
team(s) to review applications for economic incentives from prospects: There
was discussion of appointing two different negotiation teams for two applicants
asking for economic incentives. President Gordon decided to appoint the teams at
a later time.
Item 4.4. EXECUTIVE SESSION AS AUTHORIZED BY SECTION 551.074 OF
THE GOVERNMENT CODE RELATING TO PERSONNEL TO WIT:
A. Discussion of change of title and proposed salary increase for executive
secretary: The board went into executive session at 7:$0 p.m.
Item 4.5. Action to be taken as a result of executive session: The board reconvened at
8:40 p.m. Bob Norris made a motion to grant a salary increase in the amount of
EDC Minutes July 12, 2000, Page 2
5% to the executive secretary, Cindi Lane, beginning with the next pay period.
Ms. Hammock seconded the motion and the motion carded with all ayes.
There being no other business, President Gordon adjourned the meeting at .
Cindi Lane
Executive Secretary
EDC Minutes July 12, 2000, Page 3