Page 25 - Mansfieldr FY20 Approved Budget
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Mansfield Economic Development Corporation (MEDC) Fund
Revenues
The sales tax revenue for the MEDC Fund is $6,500,892 in FY 2019-2020, inclusive of debt service.
$2,573,373 of the total revenue is appropriated for approved economic development projects. Revenues
result from a ½ cent sales tax approved by the voters in 1992. Since inception, these revenues have
steadily increased. Sales tax and reserves are used to finance economic development projects.
Staffing
No new positions are budgeted in FY 2019-2020.
Operations and Maintenance
The operating budget decreased 15.76% in FY 2019-2020.
Debt
The debt service payment in the Mansfield Economic Development Fund is $2,651,125.
Transfers
$25,000 is budgeted for the MEDC portion of insurance coverage.
Equipment
No new equipment or facility improvements are budgeted in FY 2019-2020.
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