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Agenda Item 15 <br />June 1, 2009 <br />Page 2 <br />Revenue <br />Revenue for FY 2009-10 is comprised of new funding for expenditures in the upcoming year. <br />This includes reimbursements for contracted expenses, monies paid for fees, permits, and <br />leases, as well as new funds that may be received by the MRCA for various projects. <br />Total revenues for the preliminary FY 2009/10 budget are $18,090,857 Please see the <br />supplemental "Mountains Recreation and Conservation Authority Preliminary Fiscal Year <br />2009/201.0 Revenue Budget" report for additional details. <br />Projects are identified in the general ledger (As 400 system) as reimbursable or advanced funds, <br />which aids in the MRCA's accounts receivable process. All reimbursable grants are invoiced by <br />the MRCA on a periodic basis as allowed for in the grant agreements. <br />ExpendUures <br />Total FY 2009/2010 expenditures are budgeted at 18,090,857. A overview by account class is <br />presented below: <br />Account Class <br />Amount <br />Direct Payroll <br />4,961,071 <br />Payroll Benefits and Taxes <br />2,566,300 <br />Contract Services <br />2,662,695 <br />Operating Expenses <br />3,608,371 <br />MRCA Grants <br />40,000 <br />Land & Improvements <br />3,825,795 <br />Equipment <br />362,500 <br />Interest Expense <br />64,125 <br />Total Expenses <br />18,090,857 <br />These expenses represent a reduction of 54% of the amount approved in the FY 2008-09 Final <br />Budget. Management is optimistic that more direction will be provided by the State regarding <br />bond fund expenditures by the time the Final Budget is adopted in mid-August. Should that <br />be the case, the MRCA may increase the amount of projects worked on during the 2009/10 <br />Fiscal Year. Expenditures are further detailed in the "Preliminary Management Budget by <br />Account Class" report. <br />