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Wilson County News October 10, 2012 | 1,848 views | 7 comments
FLORESVILLE -- The Floresville Economic Development Corp. (FEDC) has approved its fiscal year 2013 budget; the action came during the corporation’s Oct. 1 regular meeting. . . .
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There are some interesting facts in the budget. The $270k money proposed for McCoy's is not listed. So, is FEDC funding or not funding McCoy's? I guess another backdoor project on the way.
WCN, thanks for posting the budget
You should know better Fred, you presided over the Sept 8, 2010 FEDC meeting which is documented in the WCN, dated 15 Sep 2010. Quote from paper September 8, 2010 paper: "Since its formation in 2006, the Floresville 4A ... More ›
You should know better Fred, you presided over the Sept 8, 2010 FEDC meeting which is documented in the WCN, dated 15 Sep 2010. Quote from paper September 8, 2010 paper: "Since its formation in 2006, the Floresville 4A Corp. has never had an approved budget, which is a problem that Jessica Lazovich -- the city’s office manager appointed by Interim City Manager Andy Joslin as the 4A Corporation’s finance director -- is working to solve. From there, Perez said it will be important to devise a budget that “reflects the true fiscal position of the 4A.” “Everybody knows the 4A cannot meet the debt service payments that they have over the long run, simply because you have to have a lot of events at the center,” Perez said. “But, I think like Mr. Gleeson said sometime back, the most you can expect right now is to keep the 4A operational, to keep the center operational."
Winston Shaffer Floresville, TX October 10, 2012 7:16pm
Mr. Gonzales writes an article about getting the facts straight and in the same paper the FY13 FEDC (4B) budget states an EDC cannot pay for itself. The Convention center (4A) cannot pay for itself so the FEDC is paying for ... More ›
Mr. Gonzales writes an article about getting the facts straight and in the same paper the FY13 FEDC (4B) budget states an EDC cannot pay for itself. The Convention center (4A) cannot pay for itself so the FEDC is paying for its shortfalls. Does FEDC have enough to fund the failing Convention Center; FEDC is funding "$123,000 payment to the city of Floresville for the Floresville Event Center." Where is FEDC going to get the $125k for the ball fields and the $270k for McCoys? FEDC is supposed to be creating jobs not ball fields to be names after friends.
Further, Mr. Gonzales further states FEDC is financially viable without providing any prove other than his word. So, let’s look at the last 5 years of FEDC annual report which can be found at http://www.texasahead.org/
2011: Revenue: $540k ($456k sales tax) Expenditures: $927k Differences: -387k
2010: Revenue: $447k ($408k sales tax) Expenditures: $705k Differences: -258k
2009: Revenue: $421k ($405k sales tax) Expenditures: $649k Differences: - $228k
2008: Revenue: $404k ($388k sales tax) Expenditures: $435k Differences: -$31k +1.5M (Bond)
2007: Revenue: $354k ($348k sales tax) Expenditures: $477k Differences: -$123k
If this is financial stability, then we should throw away math and economics textbooks and have Mr Gonzales re-write them.