mcclellan development authority: finance committee meeting october 21, 2009
DESCRIPTION
A ten year look at McClellanTRANSCRIPT
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McClellan McClellan Development Development
AuthorityAuthorityFinance Committee Meeting
October 21, 2009
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AGENDA
• Call to Order• Roll Call• Minutes Approval• Old Business:
• FY09 Budget Closeout• New Business:
• 10 Year Budget Review• Board Open Discussion• Public Comments• Adjourn
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Old Business
FY09 Budget Closeout
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New Business
Ten Year Budget Review
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Income: Fiscal Years 99’-09’
Total Income: $18,243,847.31
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Income Fiscal Years 99’-09’
•Almost $11.5 million* in property sales- Includes $397,000 of “in-kind” services
•76% of grant funds was Federal “seed money” funds- Last grant funds were in FY07
•“Uncategorized” includes personal property sales ($169K), ESCA reimbursement ($67K), timber sales ($108K), rail sales($308K), and cap. equipment sales ($54K)
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Expenditures: Fiscal Years 99’-09
Total Expenditures: $15,612,099.34
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Expenditures for 99’-09
•Top 3 expenditures were staff ops, property maintenance, and property development (71% of total expenditures)• Must-pays (legal, insurance, and pass through) = 20%•84% of legal fees in FY09 were for JPA related actions•Spent more on legal fees than marketing…
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Expenditures History
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Revenues vs Expenditures
Housing, Hunjan
Lowes, TV24**, B’Way Twrs
IntelliMed
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Staff Operations for 99’-09
•Staff Ops account for 30% of total expenditures•Salaries/fringes account for 87% of staff ops expenditures
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Property Maintenance For 99’-09
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Property Maintenance For 99’-09
•Property maintenance accounts for 29% of total expenditures…•However, 52% of PM funds were spent on police/fire protection, utilities, UST removal, and equipment rental•29% of PM funds spent on grounds maintenance/labor•18% of PM (5% of total) expenditures went to bldg maintenance
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Property Development For 99’-09’
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Property Development For 99’-09’
•PD accounts for 12% of total expenditures• 53% of PD expenditures were for studies•Forest management, etc.
• 28% of PD (3% of total) expenditures were for property improvement•IAR, demo, utility relocate, bldg improvement
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Marketing for 99’-09’
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Marketing for 99’-09’
•Marketing accounts for 6% of total expenditures•43% of marketing expenditures were for M@M• 56% of Marketing (3% of total) expenditures were for travel, advertising, consultants , promo materials, etc.
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• We are an Economic Development organization…• Investments (expenditures) to date:– 5% to building maintenance– 3% to property improvement– 3% to marketing
• Our goal is $1.0M of revenue per year– Not sufficient to sustain current operations
Conclusions…
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