McClellan McClellan Development Development

AuthorityAuthorityFinance Committee Meeting

October 21, 2009

AGENDA

• Call to Order• Roll Call• Minutes Approval• Old Business:

• FY09 Budget Closeout• New Business:

• 10 Year Budget Review• Board Open Discussion• Public Comments• Adjourn

2

Old Business

FY09 Budget Closeout

3

New Business

Ten Year Budget Review

4

Income: Fiscal Years 99’-09’

Total Income: $18,243,847.31

Income Fiscal Years 99’-09’

•Almost $11.5 million* in property sales- Includes $397,000 of “in-kind” services

•76% of grant funds was Federal “seed money” funds- Last grant funds were in FY07

•“Uncategorized” includes personal property sales ($169K), ESCA reimbursement ($67K), timber sales ($108K), rail sales($308K), and cap. equipment sales ($54K)

Expenditures: Fiscal Years 99’-09

Total Expenditures: $15,612,099.34

Expenditures for 99’-09

•Top 3 expenditures were staff ops, property maintenance, and property development (71% of total expenditures)• Must-pays (legal, insurance, and pass through) = 20%•84% of legal fees in FY09 were for JPA related actions•Spent more on legal fees than marketing…

Expenditures History

Revenues vs Expenditures

Housing, Hunjan

Lowes, TV24**, B’Way Twrs

IntelliMed

Staff Operations for 99’-09

•Staff Ops account for 30% of total expenditures•Salaries/fringes account for 87% of staff ops expenditures

Property Maintenance For 99’-09

Property Maintenance For 99’-09

•Property maintenance accounts for 29% of total expenditures…•However, 52% of PM funds were spent on police/fire protection, utilities, UST removal, and equipment rental•29% of PM funds spent on grounds maintenance/labor•18% of PM (5% of total) expenditures went to bldg maintenance

Property Development For 99’-09’

Property Development For 99’-09’

•PD accounts for 12% of total expenditures• 53% of PD expenditures were for studies•Forest management, etc.

• 28% of PD (3% of total) expenditures were for property improvement•IAR, demo, utility relocate, bldg improvement

Marketing for 99’-09’

Marketing for 99’-09’

•Marketing accounts for 6% of total expenditures•43% of marketing expenditures were for M@M• 56% of Marketing (3% of total) expenditures were for travel, advertising, consultants , promo materials, etc.

• We are an Economic Development organization…• Investments (expenditures) to date:– 5% to building maintenance– 3% to property improvement– 3% to marketing

• Our goal is $1.0M of revenue per year– Not sufficient to sustain current operations

Conclusions…

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