CEDC Annual Report FY03/04COPPELL EDUCATION DEVELOPMENT CORPORATION
ANNUAL CORPORATE
BUDGET
SEPTEMBER 28, 2004
FY03 -04 ANNUAL PERFORMANCE REVIEW
FY04 -05 PROJECTION OF GOALS
FY04 -05 BUDGET
ANNUAL CORPORATE BUDGET
FY03 -04 ANNUAL PERFORMANCE REVIEW, FY04 -05 PROJECTION OF GOALS AND
FY04 -05 BUDGET
FY03 -04 ANNUAL PERFORMANCE REVIEW
FY03 -04 (October 1, 2003 through September 30, 2004) was the third fiscal year for the Coppell
Education Development Corporation (CEDC). The following seven individuals comprised the
CEDC Board of Directors:
1) Antonio Altemus 467 Clear Creek Lane, Coppell, TX 75019 2 -year term
2) Betty Carter* 787 Pelican, Coppell, TX 75019 1 -year term
3) Tony Dickensheets 713 Allen Road, Coppell, TX 75019 1 -year term
4) Brianna Hinojosa- Flores 804 Ashford, Drive, Coppell, TX 75019 2 -year term
5) David Love 708 Castle Creek Drive, Coppell, TX 70519 2 -year term
6) Margaret Lucyk 529 Parkway, Coppell, TX 75019 2 -year term
7) Valerie Strong P. O. Box 332, Coppell, TX 75019 1 -year term
*Appointed September 23, 2003 to fill unexpired term of Steve Brock, who resigned September 9,
2003.
The CEDC Board of Directors met on Wednesday, October 8, 2003 at Coppell Town Center. At
this first meeting the CEDC Board elected the following to serve as officers per its bylaws:
• Betty Carter, President
. Margaret Lucyk, Vice President
. Valerie Strong, Secretary
With these officers presiding, joined by the CEDC staff liaison Jim Witt, Coppell City Manager,
and Kathy Bowling, Recording Secretary, the CEDC held six (6) Board of Director meetings
throughout FY04 including October 8, 2003, November 12, 2003, December 10, 2003, March 10,
2004, June 9, 2004, and September 8, 2004. The regularly scheduled January, February, April,
May, July and August 2004 meetings were cancelled because there were no grants to review.
GRANT APPLICATIONS AND REVIEW
At the October 8, 2003 meeting a committee of Antonio Altemus, Brianna Hinojosa - Flores and
Valerie Strong was formed to review the Bylaws and recommend changes. The Annual Budget
Report was approved.
2
SCHOOL
# OF
STUDENTS
% OF FUNDS
BUDGET ALLOCATION FOR
2003 PLUS CARRYOVERS
Coppell ISD
8,556
94.48%
$2,237,388.87
Carrollton/Farmers
Branch ISD
409
4.52%
$158,881.55
North Hills School
63
.70%
$833.93
Lewisville ISD
28
.31%
$7,956.50
TOTAL
9056
100.01
$2,549,817.11
At the November 12, 2003 meeting Robert's Rules were reviewed, and the revised Bylaws were
distributed for review and possible approval at the next meeting along with the Application Process.
At the December 10, 2003 meeting the Board unanimously approved the revised Bylaws, and
changes to the Application Process. Finance Director Jennifer Armstrong distributed estimated
sales tax collections for the upcoming year.
At the March 10, 2004 meeting the Board voted to approve a grant for Coppell Independent School
District for nine (9) Spanish Teachers in the amount of $426,139.16.
At the June 9, 2003 meeting the Board voted to approve a grant for Coppell Independent School
District for Library books in the amount of $127,000 and a grant for North Hills School for
technology in the amount of $17,756.26.
At the September 8, 2004 meeting the Board voted to approve two grants for the Carrollton- Farmers
Branch Independent School District. One grant was for a Focus on Reading program in the amount
of $44,000 and the second grant was for a half -time technology instructor in the amount of $31,200.
2003 ACTUAL RESULTS
CISD Total: $2,241,286 of $2,056,934 leaving (184,352)*
CFBISD Total: $80,000 of $87,037 leaving $7,037
`NHS Total: $17,756 of $18,361 leaving $ 605
LISD Total: $ -0- of $ -0- leaving $ -0-
$2,339,042 gr $2,162,332
*FROM PREVIOUS CARRYOVER.
3
Original sales tax projection was $1,940,000. Actual collections were $2,162,332 -- $222,332
excess due to revenues being higher than anticipated. The remaining funds are due to the
conservative approach taken by the City in regards to sales tax. Any unspent funds, roll forward to
the next year.
SUMMARY OF FY03 -04 GRANT AWARDS
2004 -SO 1 CISD Spanish $426,139.16
2004 -LO1 CISD Literacy (Books) $127,000.00
2004 -TO1 North Hills Technology $ 17,756.26
2004 -T02 C -FB ISD Technology $ 31,200.00
2004 -L -02 C -FB ISD Literacy (Instructor) $ 44,000.00
TOTAL $646,095.42
FY04 -05 PROJECTION OF GOALS
The purpose and overriding goal of the Coppell Education Development Corporation, a nonprofit,
non -stock corporation with no members, is to finance programs to publicly funded institutions
which will promote literacy, foreign language and career technology for a skilled workforce, as
authorized by Section 379A of the TEXAS LOCAL GOVERNMENT CODE, as amended. hi
support of this goal, the objectives of the CEDC Board of Directors for FY04 -05 (October 1, 2004
through December 31, 2005) are represented in brief by the following bulleted list:
• Continue to convene the CEDC Board of Directors at regularly scheduled meetings
throughout FY04 to faithfully administer the CEDC grant application, review and award
processes providing funding in accordance with our Bylaws, and the grant review policy
adopted by the Mayor and Council. The current CEDC education development plan, in
accordance with city of Coppell budgetary estimates, expects to administer in FY05 through
FY06 the following levels of grant awards:
FY05 379A Sales Tax Revenue Estimate $2,500,000
FY06 379A Sales Tax Revenue Estimate $2,625,000
TOTAL $5,125,000
• Successfully integrate three (3) new members into the CEDC Board of Directors as of
October 13, 2004.
• Process FY04 -05 Grant Applications from October 2004 through December of 2005.
• Finalize FY04 -05 Grant Agreements from October 2004 through December of 2005.
• Develop and submit the CEDC Annual Corporate Budget report by October 1, 2005.
4
FY04 -05 BUDGET
The CEDC FY04 -05 Budget included herein is based on the most current available estimate of
CY2004 -05 collectable 379A sales tax revenues as provided by the Coppell City Manager. This
budget is also simply modeled to reflect the four (4) top -level account categories used as a standard
in the budgets of the city of Coppell.
Revenues
Section 379A (Municipal Education Development Act) Sales Tax Revenue $2,500,000
Expenditures
Salary & Benefits $0
Supplies $0
Maintenance $0
Services
Grant Award Services $2,500,000
This Annual Corporate Budget report is respectfully submitted in accordance with the Bylaws of the
Coppell Education Development Corporation (CEDC) this 28 day of September 2004.
ON BEHALF OF THE CEDC BOARD OF DIRECTORS
By:
Betty Carter, President
5