Page 21 - City of Mansfield FY22 Operarting Budget

Mansfield Economic Development Corporation (MEDC) Fund

Revenues
The sales tax revenue for the MEDC Fund is $7,507,541 in FY 2021-2022, inclusive of debt service.
$3,643,817 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.

Staffing
No new positions are budgeted in FY 2021-2022.

Operations and Maintenance
The operating budget decreased 2.07% in FY 2021-2022.

Transfers
$241,400 is the budgeted transfer to the General Fund, and $25,000 is budgeted for the MEDC portion of
property insurance coverage.

Equipment
No new equipment or facility improvements are budgeted in FY 2021-2022.

Debt
The debt service payment in the Mansfield Economic Development Fund is $2,660,857.

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