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BUDGET OVERVIEW

Gas Development Fund

FY 17/18 Adopted FY 17/18 Revised FY 18/19 Adopted

Revenue $312,673 $528,300 $528,300

Expenditures $312,673 $528,300 $528,300
Balance $0 $0 $0

FY 2017/2018 Revised Budget

Included in the revised budget is an increase in revenues of $215,627 in the Gas
Development Fund. This increase is mainly due to an increase in royalty payments of $305,500
over the FY 2017/2018 Adopted Budget based on year-to-date collections as compared to
previous years. This increase is partially offset by a decrease in revenues from economic
development incentives we do not anticipate receiving this fiscal year or next in the amount of
$93,373. The major change in expenditures in this fund is a projected increase in expenses
related to settlements in the amount of $30,000 and an additional $185,627 in contributions to
the funds reserves.

FY 2018/2019 Adopted Budget

Projected revenues are in line with the FY 2017/2018 Revised Budget. Expenditures reflect
$528,300 as a contribution to reserves.

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