Page 21 - Manfield FY21 Budget

Mansfield Economic Development Corporation (MEDC) Fund

Revenues
The sales tax revenue for the MEDC Fund is $6,762,215 in FY 2020-2021, inclusive of debt service.
$2,974,306 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 2020-2021.

Operations and Maintenance
The operating budget decreased 8.72% in FY 2020-2021.

Debt
The debt service payment in the Mansfield Economic Development Fund is $2,663,484.

Transfers
$25,000 is budgeted for the MEDC portion of insurance coverage.

Equipment
No new equipment or facility improvements are budgeted in FY 2020-2021.

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