Page 26 - CityofMansfieldFY25Budget

Operations and Maintenance
The operating budget in the MPFDC Fund went up 6.13% due primarily to increases in contractual
services and supplies. As the City continues to add acreage to the parks system, the cost to maintain park
land is expected to increase.

Transfers
Approximately $23,217 is budgeted for the MPFDC portion of auto, liability, and property insurance
coverage. There is also an overhead allocation to the General Fund budgeted at $271,918.

Equipment
$267,000 is budgeted in FY 2024-2025 to fund staff vehicles, a skid steer, and other field maintenance
equipment.

Debt
The debt service payment in the Mansfield Park Facilities Development Corporation is $2,800,917, which
is a decrease of $363,160 from the previous fiscal year.

Mansfield Economic Development Corporation (MEDC) Fund

Revenues
The sales tax revenue for the MEDC Fund, which accounts for 53% of the FY 2024-2025 budget, results
from a ½ cent sales tax approved by the voters in 1997. Estimated sales tax in FY 2024-2025 is
$10,300,224. Other budgeted revenue includes $9,059,075 in prior year funding that is appropriated for
contractual obligations and economic development agreements approved by City Council.

Staffing
No new positions are budgeted in FY 2024-2025.

Operations and Maintenance
The operating budget increased approximately 137% in FY 2024-2025 due to the number of large
economic development projects in various stages of design or construction.

Transfers
The budgeted transfer to the General Fund for the Shops at Broad development is $241,400. In addition,
$224,212 to the General Fund is budgeted for overhead allocation. Finally, $37,209 is budgeted for the
MEDC portion of liability and property insurance coverage.

Equipment
No equipment is budgeted for FY 2024-2025.

Debt
The debt service payment in the Mansfield Economic Development Fund is $1,676,730 in FY 2024-2025.

CAPITAL PROJECT FUNDS
Capital Projects Funds are used to account for acquisitions of capital assets financed from general
obligation proceeds, revenue bonds, certificates of obligation proceeds, or transfers from other funds.
The Capital Projects Funds include the Street Construction Fund, Utility Construction Fund,
Environmental Services (Drainage) Construction Fund, Building Construction Fund, MPFDC
(Parks) Construction Fund, MEDC (Economic Development) Construction Fund and the Equipment
Replacement Fund.

26