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Adopted Fiscal Year 2022 Budget
FY2022 BUDGET FY2022 Budget Operating Revenue Property Tax Revenue - Downtown District 1,600,000 Property Tax Revenue - Ten Mile District 1,600,000 Property Tax Revenue - Union District - Interest Earnings 20,000 Revolving Line of Credit 100,000 Funding Carryover 5,358,520 TOTAL REVENUES and AVAILABLE CASH 8,678,520$ Contractual Obligations: Professional Services Administrator Services 130,000 Public Relations/Marketing 16,000 Legal Services 70,000 Legislative Services 30,000 Audit Services 14,000 Accounting Services 25,000 285,000 Operational Expenses ICRMP-Insurance Premium/Claims 2,365 Partnerships - Valley Regional Transit 5,420 Partnerships - City of Meridian, Concerts on Broadway 10,000 Irrigation Taxes 300 Legal Notices / Publications 1,500 Grounds Maintenance - Compass/VRT 4,000 Debt Service - Revolving Line of Credit 100,000 Debt Service - Principal Payments - WT 61,809 Debt Service - Interest Payments - WT 628 186,022 ON GOING EXPENSES: Software Maintenance/License 2,800 Parking Lot Maintenance - MDC Owned Buildings 3,000 Electronics Expense - General Fund 1,500 Office Expense - General 500 Meeting Expense 400 Leadership Conference 2,500 Postage & Mailings 200 Bank Fees 500 Mason Parking 2,500 13,900 FY2022 BUDGET FY2022 Budget Total Contractual Obligations 484,922 Revenues less Contractual Obligations 8,193,598 DISCRETIONARY EXPENSES: Operational Expenses Advertising/Promotional/Publications 1,000 Training 5,000 Dues & Subscriptions 1,000 SUBTOTAL OPERATIONAL EXPENSES 7,000 Project Expenditures Owner Participation Reimbursement to Brighton Corporation - Ten Mile 1,509,300 Ten Mile Revenues - 10% Administration Fees for Brighton + Other Revenues for non OPA properties in the district 491,219 Owner Participation Reimbursement to Pacific Companies 17,000 Partnership with Meridian Arts Commission - Downtown Art Wraps 5,000 Special Projects 436,579 Partnership with MDBA - Kiosks 6,000 New URDs 15,000 Alleyway Project 2,500 Nine-Mile Floodplain 2,500,000 Façade Improvement Program 120,000 MDC Website 6,000 Property Acquisition 2,250,000 Union Pacific Property Improvements 700,000 SUBTOTAL CAPITAL EXPENDITURES 8,058,598 8% Reserve Based on Estimated Revenues (Downtown District Only)128,000 Based upon 8% of $1,600,000 estimated revenues 1,600,000 TOTAL EXPENDITURES 8,678,520 0.08 128,000 NET 0