Page 57 - NRH FY20 Approved Budget

BUDGET OVERVIEW

Gas Development Fund

FY 18/19 Adopted FY 18/19 Revised FY 19/20 Adopted

Revenue $528,300 $1,576,800 $1,487,479

Expenditures $528,300 $1,576,800 $1,487,479
Balance $0 $0 $0

FY 2018/2019 Revised Budget

Included in the revised budget is an increase in revenues of $1,048,500 in the Gas Development
Fund. This increase is due the receipt of settlement payments. This increase also includes the
repayment of several economic development initiatives as well as interest income. The fund is
expected to end the year with a positive balance of $1,044,930, which will be added to the fund’s
reserves.

FY 2019/2020 Adopted Budget

Projected revenues are $1,487,479, including $970,679 in an appropriation of fund balance. There
will be two expenditures associated with the fund this year. An inter-fund loan to the Golf Course
Fund to cover losses while Iron Horse undergoes improvements. This loan will be for $697,479
and will be paid back to the fund over the next ten years. There will also be a $790,000 transfer
to cover capital project costs associated with the Northeast Parkway Extension.

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