ST. LAWRENCE COUNTY INDUSTRIAL DEVELOPMENT AGENCY
LOCAL DEVELOPMENT CORPORATION
Resolution No. LDC-15-10-23
October 22, 2015
APPROVING AND ADOPTING FY2016 BUDGET
and
AUTHORIZING THE CHIEF EXECUTIVE OFFICER TO MAKE LINE ITEM CHANGES
WHEREAS, the St. Lawrence County Industrial Development Agency Local Development
Corporation (the “SLCIDA-LDC”) has caused to be prepared a Fiscal Year 2016 budget, and
WHEREAS, a tentative Budget, after acceptance by the SLCIDA-LDC on September 24, 2015, was
made available for at least 20 days for public inspection and comment, and
WHEREAS, SLCIDA-LDC has reviewed any and all comments received during the public
comment period,
NOW, THEREFORE, BE IT RESOLVED that the St. Lawrence County Industrial
Development Agency Local Development Corporation approves and adopts the attached Fiscal Year 2016
Budget, and
BE IT FURTHER RESOLVED that the St. Lawrence County Industrial Development Agency
Local Development Corporation does hereby confer authority to its Chief Executive Officer to make line
item changes within the various components of the budget, provided that: (i) No line item change exceeds
$2,500; (ii) The change does not alter the "Total Expenses" of the relevant component Schedule, and (iii) the
Chief Executive Officer must advise the SLCIDA-LDC Board of any such modifications at the SLCIDALDC meeting held immediately after such modification has been made, and
BE IT FURTHER RESOLVED that the SLCIDA-LDC shall cause to have copies of the Fiscal
Year 2016 Budget forwarded to the St. Lawrence County Clerk, County Treasurer, County Administrator,
Legislative Chair, and NYSABO, and to do all other things as may be required by statute.
Move:
Second:
VOTE
Blevins
Burke
Hall
LaBaff
McMahon
Staples
Weekes
LaBaff
Weekes
AYE
X
X
X
X
X
X
NAY
ABSTAIN
ABSENT
X
I HEREBY CERTIFY that I have compared this copy of this
Resolution with the original record in this office, and that the
same is a correct transcript thereof and of the whole of said
original record.
/s/
Lori Sibley
October 22, 2015
St. Lawrence County IDA Local Development Corporation [FY2016 Adopted Budget]
OPERATING REVENUE
2400 · Late Fees Received
2409B · Interest Income - Banking
2409L · Interest Income - Loans
2412 · RVRA Administrative Revenue
2413 · WIB Director Revenue
2424 · Brasher Admin Income (LDCMicro)
2450 · Miscellaneous Income
Total OPERATING REVENUE
2014
Actual
200.00
9,260.55
145,331.97
300,000.00
33,038.75
0.00
2,600.00
490,431.27
2015
Budget
350.00
9,180.00
122,157.00
300,000.00
42,800.00
1,000.00
3,000.00
478,487.00
YTD
7/31/2015
75.00
4,019.71
69,975.17
300,000.00
20,922.06
0.00
2,200.00
397,191.94
2016
Budget
350.00
7,450.00
94,000.00
300,000.00
42,800.00
1,000.00
3,000.00
448,600.00
4TH MASSENA INDUSTRIAL BLDG
2421 · Rental Income-4MIB (Curran)
Total Revenue for 4MIB
37,113.05
37,113.05
34,855.00
34,855.00
20,043.02
20,043.02
35,790.00
35,790.00
15,296.99
15,296.99
21,816.06
15,297.00
15,297.00
19,558.00
0.00
0.00
20,043.02
15,297.00
15,297.00
20,493.00
1,250.00
1,250.00
1,500.00
1,500.00
875.00
875.00
1,500.00
1,500.00
467.84
1,396.36
4,257.78
0.00
7,196.00
13,317.98
(12,067.98)
2,500.00
3,725.00
6,000.00
500.00
7,196.00
19,921.00
(18,421.00)
38.33
2,054.41
2,718.44
0.00
0.00
4,811.18
(3,936.18)
2,500.00
3,725.00
6,000.00
500.00
7,196.00
19,921.00
(18,421.00)
39,271.83
39,271.83
43,250.00
43,250.00
28,729.19
28,729.19
49,630.00
49,630.00
242.84
1,118.95
868.50
0.00
6,804.00
9,034.29
30,237.54
100.00
4,500.00
500.00
500.00
6,804.00
12,404.00
30,846.00
38.33
1,572.24
0.00
0.00
0.00
1,610.57
27,118.62
100.00
4,500.00
500.00
500.00
6,804.00
12,404.00
37,226.00
6485510 · 4MIB - Depreciation Expense
Total 4TH MASSENA INDUSTRIAL BLDG
MASSENA INDUSTRIAL BLDG Lot 18
2422 · Rental - MIB LOT18
Total Revenue for MIB LOT18
6486408 · MIB18 - Maintenance Expense
6486411 · MIB18 - Insurance Expense
6486416 · MIB18 - Utility Expense
6486499 · MIB18 - Miscellaneous Expense
6486500 · MIB18 - Depreciation Expense
Total MASSENA INDUSTRIAL BLDG Lot 18
MASSENA INDUSTRIAL BLDG Lot 19
2423 · Rental - MIB LOT19 (Fockler)
Total Revenue for MIB LOT19
6487408 · MIB19 - Maintenance Expense
6487411 · MIB19 - Insurance Expense
6487416 · MIB19 - Utility Expense
6487499 · MIB19 - Miscellaneous Expense
6487500 · MIB19 - Depreciation Expense
Total MASSENA INDUSTRIAL BLDG Lot 19
St. Lawrence County IDA Local Development Corporation [FY2016 Adopted Budget]
MISCELLANEOUS PROJECTS
2425 · NG Marketing Initiative Revenue
2454 · Massena 18 & 19 Improvement Revenue
Total Revenue for Miscellaneous Projects
6420430 · Training Reimb Expense
6420431 · NG Marketing Initiative Expense
6420434 · Accounting Expense – Misc. Projects
Total MISCELLANEOUS PROJECTS
COMMUNITY DEVELOPMENT PROJECTS
6460450-11 - CDEIP 2011
6460450-12 - CDEIP 2012
6460450-13 - CDEIP 2013
6460450-14 - CDEIP 2014
6460450-15 - CDEIP 2015
6460450-16 - CDEIP 2016
Total COMM. DEVELOPMENT PROJECTS
GENERAL OPERATING EXPENSES
6460411 · Insurance Expense
6460418 · Underwriting/Credit Report Expense
6460420 · Office Supplies Expense
6460427 · Professional Assn. Expense
6460430 · Contractual Expenses to MED
6460431 · Contractual Expenses to IDA
6460432 · Other Legal Expense
6460433 · Legal Expense - Retainer
6460434 · Accounting Expense - General
6460435 · GMEDF Admin Fee
6460436 · Marketing
6460442 · Meeting Expense
6460443 · Mileage Expense
6460445 · Other Travel Expense
6460499 · Miscellaneous Expense
6460503 · Payroll Expenses
503A - Salaries & Wages
503B - Employee Benefits
503D - Payroll Tax Expenses
503E - Payroll Processing Fees
6460550 · IDA Admin Payment
6460555 · Bad Debt Expense
Total GENERAL OPERATING EXPENSES
2014
Actual
0.00
0.00
0.00
2015
Budget
25,000.00
60,000.00
85,000.00
YTD
7/31/2015
0.00
0.00
0.00
2016
Budget
0.00
0.00
0.00
10,486.44
0.00
0.00
10,486.44
(10,486.44)
7,500.00
25,000.00
600.00
33,100.00
(33,100.00)
0.00
0.00
600.00
600.00
(600.00)
0.00
0.00
0.00
0.00
0.00
4,315.49
15,000.00
140,252.70
59,081.07
0.00
0.00
218,649.26
125,887.00
16,344.00
0.00
454,330.00
465,273.00
0.00
1,061,834.00
72,280.80
0.00
40,000.00
127,335.44
0.00
0.00
239,616.24
53,606.00
18,626.00
28,848.00
249,942.00
331,202.00
445,000.00
1,127,224.00
1,508.00
11.90
11.90
200.00
48,600.00
300,000.00
11,754.20
8,000.00
12,475.00
7,200.00
39,383.26
72.80
33.60
23.45
447.95
1,500.00
1,500.00
325.00
250.00
48,600.00
300,000.00
20,000.00
7,000.00
12,600.00
7,200.00
25,000.00
250.00
500.00
1,500.00
1,500.00
0.00
0.00
101.85
175.00
24,300.00
300,000.00
1,357.50
3,500.00
12,475.00
7,200.00
225.00
10.00
37.38
11.00
0.00
1,500.00
2,000.00
325.00
250.00
48,600.00
300,000.00
20,000.00
7,000.00
12,400.00
7,200.00
50,000.00
250.00
500.00
1,500.00
1,500.00
86,447.90
573.05
6,953.05
2,219.15
200,000.00
0.00
725,915.21
86,488.00
530.00
7,090.00
1,750.00
200,000.00
0.00
723,583.00
49,896.90
280.41
4,058.54
1,281.85
100,000.00
239,569.69
744,480.12
86,488.00
530.00
7,090.00
1,750.00
200,000.00
0.00
748,883.00
Total Income 568,066.15
643,092.00 446,839.15
535,520.00
Total Expenses 992,700.17 1,866,139.00 991,118.11 1,923,729.00
Net Income (424,634.02) (1,223,047.00) (544,278.96) (1,388,209.00)