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HomeMy WebLinkAbout9/24/2015 DMCC Board Meeting - BudgetDMC$EDA$2015*$$Budget$ Total$(EDA$&$Mayo$9$10$ mo.$Budget$March$9$Dec$ 2015)$ DMC$EDA$ 2016$Budget$ (12$mo.$ Budget) $2016$Mayo$ Funding**2016$TOTAL 2016$BUDGET$ASSUMPTIONS *"2.5%"increase"applied"to"each"position""after"1"year"of"employment"during"2016"(average"non>profit"salary"increase"range"is"2.5%">"3%" according"to"Smart"HR") Payroll$$391,000 $520,563 $229,219 $749,781 Exec$Director,$Communications/Community$Relations$Dir.,$Exec$Assistant$,$Econ$Dev/$Operations$Dir,$Finance$Dir.$,$Bus$Dev/Communication$ Coordinator Benefits$$156,000 $208,225 $91,688 $299,913 40%Benefits$estimated$at$40%$of$$salary$includes$EDA$benefits$plus$employer$paid$taxes$and$unemployment$insurance Mayo$Contributed$Staff $0 $0 $330,000 $330,000 Mayo's$In9kind$contribution$(salary$&$benefits)$for$two$Mayo$employees$to$provide$direct$coordination$with$EDA Payroll$Expenses$(note"1)$6,000 $6,000 $6,000 2016$$budget$comparable$to$the$2015$budget$9$Smart$HR$Services Transportation/Transit$Subsidy$(note"2)$0 $7,200 $7,200 $$1200$per$year$per$staff$member$(6$staff) Reimbursements"(note"3)$0 $35,000 $35,000 Budget$allocation$for$staff$miscellaneous$reimbursable$expenses$(normal$EDA$business$travel,$marketing$lunches/dinners,$etc.) Subtotal $553,000 $777,000 $651,000 $1,428,000 Rent $54,000 $0 $72,000 $72,000 Rent$cost$estimate$provided$by$Mayo$Clinic$Facilities Utilities$/Cleaning$Services $3,000 $0 $0 Included$in$rent$cost $$$$$$$Security$System,$Phone/Computer$Connections $0 $0 $35,000 $35,000 Mayo$Facilities$Department$budget Equipment$Rentals/Furniture $11,000 $8,000 $8,000 EDA$budget:$printer/copier$annual$leases Office$Supplies/Consumables$$10,000 $14,000 $14,000 Full$9year$office$supplies$and$consumables$$(includes$an$additional$lap$top$purchase) Postage,$Shipping,$Messenger,$etc.$$1,100 $2,200 $2,200 2016$$budget$estimate Server$and$Maintenance$Contract $18,000 $15,000 $15,000 Budget$estimate$for$2016/2017$server$maintenance$contract:$$$1250/$month$(assume$contract$start$3rd$Qtr.$2016)$Note:$server$cost$included$ in$2015$budget Room$Rental$(Board$Meetings$&$Community$Meetings)$(note"4)$9,000 $9,000 $9,000 2016$$budget$comparable$to$the$2015$budget Website,$Drafting,$Hosting$(note"5)"$65,000 $65,000 $65,000 2016$budget$comparable$to$the$2015$budget Miscellaneous$Costs$(note"6)$32,500 $50,000 $50,000 Includes$office$phones,$internet,$other$miscellaneous$costs,$and$a$contingency$ Subtotal($204,000 $163,000 $107,000 $270,000 Outreach,$Print$&$Collateral $8,000 $230,000 $230,000 Launch$of$comprehensive$outreach$campaign,$design$and$production$of$marketing$collateral Subscriptions/Professional$Organization$Memberships $5,000 $15,000 $15,000 Allocation$for$$EDA's$$staff$members Conferences,$Meetings,$Travel$&$Sponsorships $40,000 $225,000 $225,000 Budget$for$local,$national,$and$international$participation$and$$event$sponsorships$to$promote$the$DMC Miscellaneous$Costs$$20,000 $25,000 $25,000 Budget$allocation$for$additional$outreach$miscellaneous$expenses$ Subtotal $73,000 $495,000 $495,000 $$EDA$$Development$Management$Services $1,860,000 $0 $0 Not$required$in$2016$9$EDA$will$be$fully$staffed$and$operational$ Legal$Services$$50,000 $175,000 $175,000 Consultant$contract$negotiations,$general$business/nonprofit$compliance$issues,$etc. Website$Advanced$Design$(note"7)$0 $65,000 $65,000 Additional$consultant$$fees$(currently$Brandhoot)$for$Phase$2$web$design$services Marketing$Communications$&$Advertising$$0 $393,000 $157,000 $550,000 Consultant$fees,$paid$media,$if$any,$and$other$related$costs Public$Relations/Community$Relations$(note"8)$210,000 $200,000 $200,000 Lower$budget$due$to$addition$of$an$EDA$communication$coordination$staff$member Financial$Reporting$Services$(e.g.$tax,$audit)$40,000 $90,000 $90,000 Higher$financial$reporting$/audit$fees$expected$in$2016 Other$Contracting$Services$/$Expenses $135,000 $225,000 $225,000 Budget$allocation$for$additional$contracted$services$including:$econ/fiscal$impacts,$architectural/engineering$design$reviews,$market$analysis Subtotal $2,295,000 $1,148,000 $157,000 $1,305,000 Insurance$&$Taxes $60,000 $80,000 $80,000 Budget$allocation$for$anticipated$higher$cost Miscellaneous$Costs$/$Contingency $200,000 $325,000 $325,000 Budget$allocation$for$miscellaneous$costs$and$a$contingency$ Subtotal $260,000 $405,000 $405,000 TOTAL(BUDGET $3,385,000 $2,988,000 $915,000 $3,903,000 *$EDA$2015$budget$line$items$have$been$adjusted$to$compare$to$the$$2016$budget$presentation,$as$noted$below. Note$1:$Payroll$expenses$were$included$in$$General$Administrative$costs$$in$the$2015$budget Note$2:$Transportation/Transit$Subsidy$9$New$2016$budget$line$item Note$3:$Reimbursements$9$New$2016$budget$line$item Note$4:$Room$Rental$Costs$were$in$Meeting$Expenses$costs$in$the$2015$budget Note$5:$Formerly$titled$"$Website,$Drafting$and$Graphics$Support"$$in$2015$budget,$plus$$35,000$added$by$the$DMCC$Board$under$"Outreach,$Print$&$Collateral" Note$6:$Miscellaneous$Costs$includes$$ancillary$costs$associated$with$meetings$and$room$rentals Note$7:$Website$Advanced$Design$9$New$2016$budget$line$item Note$8:$Formerly$titled$"$Public$Relations$&$Communications"$$in$2015$budget **In$addition$to$the$$585,000$included$here$to$be$expended$by$Mayo$Clinic$for$direct$EDA$costs$and$services,$Mayo$also$intends$to$expend$approximately$$330,000$(in$salary$and$benefits)$for$two$Mayo$employees$to$provide$direct$coordination$with$EDA DMC(EDA(2016((BUDGET(DETAIL Miscellaneous(Costs DMC(EDA(Staff(Costs(( DMC(EDA(Operational(Costs Economic(Development(Outreach(&(Support Professional(Services