Full Text
millcreekUT.gov FY25 Final Budget 56 Millcreek Community Foundation Budget Fund 250 - Millcreek Community Foundation - Special Revenue Fund Account # Account Description 2022-2023 Actual 2023-2024 Projected 2024-25 Tentative Proposed Changes to Tentative Bdgt 05-20-2024 Council Budget in Progress FY2025 Budget Comments Revenue General Revenues New Account Contribution from VO 501c3 30,000 Promise Program New Account Sponsorships / Donations - Promise 10,000 10,000 10,000 New Account Non-Cash Donations - Promise New Account Grants - Promise Programs 5,000 5,000 5,000 Venture Out Programs New Account Sponsorships/Donations - Venture Out New Account Grants - Venture Out 100,000 100,000 100,000 New Account Non-Cash Donations - Venture Out 10,000 10,000 10,000 Other Community Life Events New Account Sponsorships/ Donations - Events New Account Grants - Events New Account Non-Cash Donations - Events Other Charitable Programs New Account Grants - Arts 5,000 5,000 5,000 New Account Sponsorships/ Donations - Monuments 26,598 5,000 5,000 5,000 New Account Sponsorships/ Donations - Recreation Miscellaneous Revenue 250-3600-3601 Interest Income 250-3600-3610 Sundry Revenue Interfund Transfsers / Budgetary Use of Fund Balance 250-3900-3910 Transfer from Other Funds 250-3900-3915 Transfer from Gen Fund - Non-cash / in-kind donations 10,000 (10,000) Millcreek venue rentals given at no charge as part of Venture Out sponsors - Exp in Gen Fund (new acct # 100-5720-XXXX) 250-3900-3920 Budgetary Use of Fund Balance Total Revenues 26,598 165,000 145,000 (10,000) 135,000 Expenditures New Account Promise Program 15,000 (15,000) New Account City Monuments 18,609 5,000 (5,000) New Account Arts Programs 5,000 (5,000) New Account Venture Out Programs 100,000 (100,000) New Account Venture Out Sponsorship Fulfillment Exp New Account Venture Out Sponsorship Fulfillment Exp - Non-cash New Account Recreation Programs 10,000 (10,000) New Account Transfer to Millcreek Gen Fund 172,989 135,000 135,000 General Fund carries out all activities through Promise and Community Life departments Total Expenditures 18,609 172,989 135,000 - 135,000 Fund Balance Budgetary Addition to (Use of) Fund Bal 7,989 (7,989) 10,000 (10,000) - Beginning Fund Balance 7,989 - 10,000 - Ending Fund Balance 7,989 - 10,000 - - Millcreek Community Foundation was established as a fundraising vehicle - all solicited sponsorships and donations will be received in the Community Foundation Fund; All fundraising proceeds will be transferred to the General Fund either 1) after the event was held; 2) on a routine basis determined by the timing of the events sponsored (one-time or ongoing for a season e.g., VO! events and activities). Sponsorships are also being sought for other Community Life Events e.g., Doxy Derby and Magic Ice Show