Page 110 - CityofMansfieldFY23Budget
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CITY OF MANSFIELD, TEXAS
MANSFIELD ECONOMIC DEVELOPMENT CORPORATION
BUDGET SUMMARY
2022/2023
ACTUAL BUDGET BUDGET
2020/2021 2021/2022 2022/2023
Beginning Net Assets $ 4,598,038 $ 8,184,671 $ 8,184,671
Additions:
Sales Tax Revenue 5,337,756 4,831,684 6,364,789
Sale of City Property 6,181,329 - -
Other Income - - -
Interest 447 15,000 15,000
Total 11,519,532 4,846,684 6,379,789
Assets Available 16,117,570 13,031,355 14,564,460
Deductions:
Administration 671,243 897,838 1,534,610
Other Operating Expenses 49,343 38,629 38,629
Transfer to other Funds 271,963 266,400 422,420
Land 5,023,284 - -
Project Appropriation 1,917,066 3,643,817 4,384,130
Total 7,932,899 4,846,684 6,379,789
Ending Net Assets $ 8,184,671 $ 8,184,671 $ 8,184,671
Sales tax revenue largely contributed to the 77% increase in the MEDC’s fund balance. The MEDC also
had significant expense savings in FY2020-2021. Additionally, there was a gain of $1.1M in land
transactions.
*Budget is Adopted and Final Budget.
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