Page 108 - City of Mansfield FY22 Operarting Budget
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CITY OF MANSFIELD, TEXAS
MANSFIELD ECONOMIC DEVELOPMENT CORPORATION
BUDGET SUMMARY
2021/2022
ACTUAL BUDGET BUDGET
2019/2020 2020/2021 2021/2022
Beginning Net Assets $ 3,418,891 $ 4,598,038 $ 4,598,038
Additions:
Sales Tax Revenue 4,156,911 4,083,731 4,831,684
Sale of City Property - - -
Other Income - - -
Interest 10,701 15,000 15,000
Total 4,167,612 4,098,731 4,846,684
Assets Available 7,586,503 8,696,769 9,444,722
Deductions:
Administration 613,435 819,397 897,838
Other Operating Expenses 43,816 38,629 38,629
Transfer to other Funds 267,386 266,400 266,400
Reserve - - -
Depreciation - - -
Project Appropriation 2,063,828 2,974,306 3,643,817
Total 2,988,465 4,098,731 4,846,684
Ending Net Assets $ 4,598,038 $ 4,598,038 $ 4,598,038
Sales tax revenue largely contributed to the 34% increase in the MEDC’s fund balance. The MEDC also
had salary and benefit savings in FY20 due to a position that remained open for most of the year.
Additionally, some scheduled projects were put on hold due to Covid-19.
*Budget is Adopted and Final Budget.
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