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HomeMy WebLinkAbout5a1-Budget Amendment for Hearing FY2025-2025-09-10FY2025 BUDGET (OCTOBER 01, 2024 - SEPTEMBER 30, 2025) FY2025 Amended Budget Operating Revenue Property Tax Revenue - Downtown District 2,200,000 Funding Carryover from FY24 - Downtown District 7,649,819 Property Tax Revenue - Ten Mile District 2,806,969 Funding Carryover From FY24 - Ten Mile District 777,119 Property Tax Revenue - Union District without ACHD TIF 87,551 Property Tax Revenue - Union District ACHD TIF Only 13,082 Funding Carryover from FY24 - Union District without ACHD TIF 7,815 Funding Carryover from FY24 - Union District ACHD TIF 1,949 Property Tax Revenue - Northern Gateway without ACHD TIF 144,849 Property Tax Revenue - Northern Gateway ACHD TIF Only 21,644 Funding Carryover from FY24 - Northern Gateway District without ACHD TIF 80,980 Funding Carryover from FY24 - Northern Gateway District ACHD TIF 32,084 Property Tax Revenue - Linder District without ACHD TIF 111,381 Property Tax Revenue - Linder District ACHD TIF Only 16,640 Funding Carryover from FY24 - Linder District without ACHD TIF 31,547 Funding Carryover from FY24 - Linder District ACHD TIF 5,549 Interest Earnings 120,000 TOTAL REVENUES and AVAILABLE CASH 14,108,978$ Contractual Obligations: Professional Services Administrator Services - Downtown District 78,045 Administrator Services - Ten Mile District 25,176 Administrator Services - Union District 2,518 Administrator Services - Northern Gateway District 18,881 Administrator Services - Linder District 1,259 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 15,750 Legislative Services - Ten Mile District 15,750 Audit Services - Downtown District 8,700 Audit Services - Ten Mile District 8,700 Accounting Services - Downtown District 21,080 Accounting Services - Ten Mile District 6,800 Accounting Services - Union District 680 Accounting Services - Northern Gateway District 5,100 Accounting Services - Linder District 340 295,878 Operational Expenses ICRMP-Insurance Premium/Claims 4,142 Partnerships - Valley Regional Transit 6,619 Partnerships - City of Meridian, Concerts on Broadway 10,000 Irrigation Taxes - COMPASS/VRT Property 300 Legal Notices / Publications 2,000 FY2025 BUDGET (OCTOBER 01, 2024 - SEPTEMBER 30, 2025) FY2025 Amended Budget Grounds Maintenance - Compass/VRT Property 7,000 30,061 ONGOING EXPENSES: Accounting Software Maintenance/License 3,500 Parking Lot Maintenance - COMPASS/VRT & Masons Parking Lot 6,500 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 22,900 Total Contractual Obligations 348,839 Revenues less Contractual Obligations 13,760,139 DISCRETIONARY EXPENSES: Operational Expenses Marketing/Promotional/Publications 1,000 Training and Meals 5,000 Dues and Subscriptions 5,600 SUBTOTAL OPERATIONAL EXPENSES 11,600 Project Expenditures Owner Participation Reimbursement to Brighton Corporation - Ten Mile District 2,526,272 Ten Mile Revenues - MDC's 10%979,470 Owner Participation Reimbursement to Galena Opportunity Fund for Union 93 - Union District 80,000 Owner Participation Reimbursement to MKA, LLC (Keller Associates) - Downtown District 40,000 Special Projects - Downtown District 7,273,732 Special Projects - Union District 5,726 Special Projects - Union District ACHD TIF 15,031 Special Projects - Northern Gateway District 135,783 Special Projects - Northern Gateway ACHD TIF 53,728 Special Projects - Linder District 140,606 Special Projects - Linder District ACHD TIF 22,191 Destination Downtown - Downtown District 29,750 Destination Downtown - Northern Gateway District 5,250 Nine-Mile Floodplain - Downtown District 2,000,000 Façade Improvement Program - Downtown District 200,000 Façade Improvement Program - Northern Gateway District 50,000 Façade Improvement Program - Union District 5,000 Meridian Chamber Sponsorship - Oktoberfest - Downtown District 10,000 SUBTOTAL CAPITAL EXPENDITURES 13,572,539 8% Reserve Based on Estimated Revenues (Downtown District Only)176,000 TOTAL EXPENDITURES 14,108,978 NET -