HomeMy WebLinkAboutAdopted Budget FY2024-2023-08-23FY2024 BUDGET (OCTOBER 01, 2023 - SEPTEMBER 30, 2024)
FY2024 Budget
Operating Revenue
Property Tax Revenue - Downtown District 1,505,040
Funding Carryover From FY23 - Downtown
District 6,573,006
Property Tax Revenue - Ten Mile District 1,760,548
Funding Carryover From FY23 - Ten Mile District 433,199
Property Tax Revenue - Union District without
ACHD TIF 66,922
Property Tax Revenue - Union District ACHD TIF
Only 9,999
Funding Carryover From FY23 - Union District
without ACHD TIF 3,463
Funding Carryover From FY23 - Union District
ACHD TIF 844
Property Tax Revenue - Northern Gateway
without ACHD TIF 100,413
Property Tax Revenue - Northern Gateway ACHD
TIF Only 15,004
Funding Carryover From FY23 - Northern
Gateway District without ACHD TIF 35,221
Funding Carryover From FY23 - Northern
Gateway ACHD TIF 12,369
Property Tax Revenue - Linder District without
ACHD TIF 18,763
Property Tax Revenue - Linder District ACHD TIF
Only 2,804
Funding Carryover From FY23 - Linder District
without ACHD TIF 8,041
Funding Carryover From FY23 - Linder District
ACHD TIF 1,854
Interest Earnings 80,000
TOTAL REVENUES and AVAILABLE CASH 10,627,490$
Contractual Obligations:
Professional Services
Administrator Services - Downtown District 75,772
Administrator Services - Ten Mile District 24,442
Administrator Services - Union District 2,444
Administrator Services - Northern Gateway
District 18,332
Administrator Services - Linder District 1,222
Public Relations/Marketing - Downtown District 7,500
Public Relations/Marketing - Ten Mile District 7,500
Legal Services - Downtown District 44,701
Legal Services - Ten Mile District 14,420
Legal Services - Union District 1,442
Legal Services - Northern Gateway District 10,815
Legal Services - Linder District 721
Legislative Services - Downtown District 5,000
Legislative Services - Ten Mile District 5,000
Audit Services - Downtown District 8,000
Audit Services - Ten Mile District 8,000
Accounting Services - Downtown District 18,600
Accounting Services - Ten Mile District 6,000
Accounting Services - Union District 600
Accounting Services - Northern Gateway District 4,500
Accounting Services - Linder District 300
265,311
Operational Expenses
ICRMP-Insurance Premium/Claims 3,186
Partnerships - Valley Regional Transit 6,916
Partnerships - City of Meridian, Concerts on
Broadway 10,000
Partnerships - City of Meridian, Bus Shelter
Wraps - Downtown District 4,000
Partnerships - City of Meridian, Bus Shelter
Wraps - Ten Mile District 4,000
FY2024 BUDGET (OCTOBER 01, 2023 - SEPTEMBER 30, 2024)
FY2024 Budget
Irrigation Taxes - COMPASS/VRT Property 300
Legal Notices / Publications 2,000
Grounds Maintenance - Compass/VRT Property 5,000
35,402
ONGOING EXPENSES:
Accounting Software Maintenance/License 3,500
Parking Lot Maintenance - COMPASS/VRT &
Masons Parking Lot 5,000
General Electronics Expense -
Website/Zoom/Email Storage Fees 2,500
General Office Expenses 1,000
Meeting Expenses 500
Boise Chamber Leadership Conference 3,200
Postage & Mailings 200
Bank Fees 500
Mason Parking Lot - Special Projects 5,000
21,400
Total Contractual Obligations 322,113
Revenues less Contractual Obligations 10,305,377
DISCRETIONARY EXPENSES:
Operational Expenses
Marketing/Promotional/Publications 1,000
Training and Meals 5,000
Dues and Subscriptions 1,400
SUBTOTAL OPERATIONAL EXPENSES 7,400
Project Expenditures
Owner Participation Reimbursement to Brighton
Corporation - Ten Mile District 1,584,493
Ten Mile Revenues - MDC's 10%539,892
Development Agreement Reimbursement to
Pacific Companies for Old Town Lofts -
Downtown District 600,000
Owner Participation Reimbursement to Galena
Opportunity Fund for Union 93 - Union District 5,000
Owner Participation Reimbursement to MKA, LLC
(Keller Associates) - Downtown District 40,000
Special Projects - Downtown District 3,870,638
Special Projects - Union District 55,899
Special Projects - Union District ACHD TIF 10,843
Special Projects - Northern Gateway District 76,887
Special Projects - Northern Gateway ACHD TIF 27,373
Special Projects - Linder District 24,561
Special Projects - Linder District ACHD TIF 4,658
Destination Downtown - Downtown District 142,233
Destination Downtown - Northern Gateway
District 25,100
Nine-Mile Floodplain - Downtown District 3,000,000
Façade Improvement Program - Downtown
District 150,000
Façade Improvement Program - Union District 10,000
Meridian Chamber Sponsorship - Oktoberfest
2024 10,000
SUBTOTAL CAPITAL EXPENDITURES 10,177,577
8% Reserve Based on Estimated Revenues
(Downtown District Only)120,400 Based upon 8% of $1,505,000 estimated revenues
1,505,000
TOTAL EXPENDITURES 10,627,490 0.08
120,400
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