8.2 Thunder Struck Grant Funding
CITY OF SALINA
REQUEST FOR CITY COMMISSION ACTION
DATE
3/24/2008
TIME
4:00 P.M.
AGENDA SECTION
NO:
8
ORIGINATING DEPARTMENT: APPROVED FOR
AGENDA:
CITY MANAGER'S OFFICE
ITEM
NO.
Page 1
2
BY:
BY: Jason A. Gage, City Manager
ITEM:
Consider an incentive request from Thunder Struck, Inc. to fund the purchase of fabrication equipment
to support the addition of up to six (6) new primary industrial jobs.
BACKGROUND:
Thunder Struck, Inc. is a local company that was brought to Salina from Lamesa, Texas in late 2007.
The umbrella company of Thunder Struck, Inc. has owned and operated Truck Lift Specialists in
Salina for the past 13 years. Thunder Struck, Inc. products include grill guards, front bumper
replacements, running boards, step bars and headache racks. The current operation employees 8
people.
Thunder Struck, Inc. is planning to add six (6) new primary industrial jobs by the end of 2008. This is
in response to an increase in their product demand. The annual estimated payroll for these new jobs
is approximately $188,000, or around $15.00 per hour. This wage is slightly higher than the average
wage in Saline County for similar jobs. The attached information provides more detail about the
company and equipment needs.
Thunder Struck, Inc. is requesting an SEDIC incentive grant of $21,000 to assist with their immediate
need to purchase fabrication equipment with an estimated cost of $95,000. They expect to purchase
up to $350,000 in equipment over the next year. This equipment, along with the additional personnel
is necessary for the company to respond to product demand. The requested amount is equal to
$3,500 per job.
The Wichita State University (WSU) Benefit-Cost Analysis is included and provides a benefit-cost
ratio in excess of 1.0 for all impacted governmental units. The SEDIC's role is to recommend
approval or denial of this request to the City Commission.
FISCAL NOTE:
If authorized, this request will be funded from the 12.5% economic development allocation of the
City's Special % Cent Sales Tax, which is accounted for in the City's Sales Tax Economic
Development Fund.
CONFORMANCE WITH STRATEGIC PLAN
GOAL #3: The City will create a community of qualit~ mixed-use development and
redevelopment
Staff believes that growth of healthy, local industries such as Thunder Struck will certainly foster this
goal.
ALTERNATIVES AND RECOMMENDED ACTION:
Alternative #1: Approve the request to fund fabrication equipment to Thunder Struck, Inc. in an
amount not to exceed $21,000 and authorize Staff to enter into a grant offer
agreement.
CITY OF SALINA
REQUEST FOR CITY COMMISSION ACTION
DATE
3/24/2008
TIME
4:00 P.M.
AGENDA SECTION
NO:
8
ORIGINATING DEPARTMENT: APPROVED FOR
AGENDA:
CITY MANAGER'S OFFICE
ITEM
NO.
Page 2
2
BY:
BY: Jason A. Gage, City Manager
Alternative #2: Deny the request to fund fabrication equipment to Thunder Struck, Inc.
This item was recommended for approval by the SEDIC at their March 13, 2008 meeting. Staff
believes this request clearly meets the intent of Resolution #05-6220, which provides for the funding
of capital expenditures in property, plant and equipment to stimulate job growth for primary
businesses. As a result, Staff also recommends Alternative #1.
Attachment: Thunder Struck, Inc. Letter of Request
Salina Area Chamber of Commerce Letter
WSU Benefit-Cost Analysis
DRAFT Grant Offer Agreement
Resolution No. 05-6220
Special % Cent Sales Tax Cash Flow Report
.
The Honorable Alan Jilka
Mayor, City of Salina
300 West Ash St.
Salina, KS 67401
Dear Mayor Jilka:
Thunder Struck, Inc. requests SEDIC consideration ofa $21,000 grant request from the
City of Salina special sales tax fund for economic development. The funds will help
Thunder Struck expand its manufacturing process and create additional new jobs in
Salina and Saline County.
Thunder Struck started business in 2000 in Lamesa, Texas. Casen Brown & Jeff Turner
purchased the business and moved it to Salina in December 2007. We have owned Truck
Lift Specialists in Salina for 13 years. Thunder Struck products include Grill Guards,
Front Bumper Replacements, Running Boards, Step Bars & Headache Racks. Thefrrm
uses square tubing to make their products, which gives a different look from their
competitors.
Enclosed is a list of our immediate equipment needed to accomplish our rapid growth and
assure the success of Thunder Struck. Our total equipment purchases will exceed
$350,00.00 within the next twelve months.
Since December, Thunder Struck has employed 8 people and anticipates having 14
employees by the end of twelve months. We are positive this number will grow. Our
average wage will be $15.00 per hour plus a substantial benefit package.
It is our intent to purchase the building we are presently leasing. The building will
require little modification to serve our purpose. The building will also be large enough to
provide for our future growth.
Your favorable consideration of this grant request will enable Thunder Struck to support
the continued economic and community development of the Salina and Saline County
area.
Sincerely,
Casen Brown
Leaf Brake
Plasma Table
CNC Turret Punch
4 Welders
Shears
Total
~..
, .-,,:.
.
Thunder Struck Equipment List:
New:
Used:
$95,000
$45,000
$25,000
$19,000
$ 3,500
$ 2.000
$94,500
.
Salina
Area Chamber of Commerce
120 W. Ash, P.O. Box 586 . Salina, KS 67402-0586 . 785-827-9301. Ix 785-827-9758. www.salinakansas.org
The Honorable Alan Jilka
Mayor, City of Salina
300 West Ash St.
Salina, KS 67401
Dear Mayor Jilka:
Thunder Struck, Inc. requests SEDIC consideration of a $21,000 grant request from the City of
Salina special sales tax fund for economic development. The funds will help Thunder Struck
expand its manufacturing process and create additional new jobs in Salina and Saline County.
Thunder Struck started business in 2000 in Lamesa, Texas. Casen Brown & Jeff Turner
purchased the business and moved it to Salina in December 2007. They've had Truck Lift
Specialists in Salina for 13 years. Thunder Struck products include Grill Guards, Front Bumper
Replacements, Running Boards, Step Bars & Headache Racks. They bring a fresh perspective to
a traditional way of making truck products. The firm uses square tubing to make their products,
which gives a different look from their competitors.
It was the firm's original plan to job shop part of the production to area metal shops. However,
the demand for their product is greater than they anticipated. Since they are still at a small
production level, it is hard to be a priority for the job shops. The firm wants to avoid delays and
timing problems with receiving sub-assemblies.
This is the reason Thunder Struck seeks to bring those processes in-house, creating jobs and
making a private sector capital investment in Salina's future. Enclosed is a list of the immediate
equipment needed to accomplish this and assure the success of Thunder Struck. Their total
equipment purchases will exceed $350,00.00 within the next twelve months.
Since December, they have employed 8 people and anticipate having 14 employees by the end of
twelve months. Though they have been forced by circumstance, to bring on employees faster
than they anticipated, the additional equipment is key to maintaining and growing to the next
level. The last three quarter average wage for 3329 Other Fabricated Metal Products in Saline
County, Kansas according to the United State Census Bureau is $14.62 per hour.
Right place. Right reason. Right now.
~'
Salina
Area Chamber of Commerce
120 W. Ash, P.O. Box 586 . Salina, KS 67402~586 . 785~27-9301 . Ix 785~27-9758. www.salinakansas.org
At present, they are leasing one third of a building and their intent is to purchase that building
and to expand into the entirety. The purchase price is $350.000.00. It is their belief the building
will require little modification to serve their purpose. This is a good place to make the point that
working capital for operations is being provided entirely from internal sources.
Your favorable consideration of the request will enable Thunder Struck to support the continued
economic and community development of the Salina and Saline County area.
Sincerely,
~.t.-.
-
Dennis W. Lauver
President/CEO
~S\~
David O. Bossemeyer
Director, Existing Business Expansion
\
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Center for Economic Development and Business Research
Wichita State University
1845 Fairmount St
Wichita, Kansas 67260-0121
(316) 978-3225
WICHITA STATE
UNIVERSIlY
DATE OF ANALYSIS
TIME OF ANALYSIS
VERSION OF ANALYSIS
3/11/2008
12:18 PM
Draft
6
$1,872,000
$350,000
$0
$0
$350,000
City Incentives - Salina
Tax abatement
Sales tax exemption
For ivableloans
Trainin dollars
Infrastructure
Cash value all other incentives
21,000
o
o
o
o
o
21,000
county Incentives - Saline 0
T ax abatement 0
Sales tax exemption 0
Forgivable loans 0
Training dollars 0
Infrastructure 0
Cash value all other incentives 0
State Incentives 0
Tax abatement 0
Sales tax exemption 0
Forgivable loans 0
Training dollars 0
Infrastructure 0
Cash value all other incentives 0
School District Incentives - 305 Salina 0
Tax abatement 0
Sales tax exemption 0
Forgivable loans 0
Training dollars 0
Infrastructure 0
Cash value all other incentives 0
Page 1 of 4
,
^~~~~~,-
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1/,,,,;
WICHITA STATE
UNIVERSIlY
Center for Economic Development and Business Research
Wichita State University
1845 Fairmount 81.
Wichita, Kansas 67260-0121
(316) 978-3225
DATE OFANAL YSIS
TIME OF ANALYSIS
VERSION OF ANALYSIS
3/11/2008
12:18 PM
Draft
o
0.0%
o
0.0%
Direct ~bS
Direct ayroll earnings
- $01
- $01
Total jobs
Total payroll earnings
Payroll earnings for 1 o-year period .
Direct $1,872,000
Total $3,756,542
Page 2 of 4
Center for Economic Development and Business Research
Wichita State University
1845 Fairmount St.
Wichita, Kansas 67260-0121
(316) 978-3225
~~.,
WICHITA STATE
UNIVERSITY
DATE OF ANALYSIS
TIME OF ANALYSIS
VERSION OF ANALYSIS
3/11i2008
12:18 PM
Draft
eriod
$9,432
$34,324
27.5%
$43,756
$34,324
1.27
County Fiscal Impacts. - Saline Discounted
Present value of net benefits $10,329
Rate of Return on Investment
Net public benefits 10-year period $10,329
Public costs 10-year period $4,852
Rot 212.9%
Benefit-Cost Ratio
Public benefits 10-year period $15,180
Public costs 1 O-year period $4,852
Benefit-Cost Ratio 3.13
State Fiscal Impacts Discounted
Present value of net benefits $175,331
Rate of Return on Investment
Net public benefits 10-year period $175,331
Public costs 10-year period $23,595
ROI 743.1 %
Benefit-Cost Ratio
Public benefits 1 O-year period $198,926
Public costs 10-year period $23,595
Benefit-Cost Ratio 8.43
School District Fiscal Impacts. - 305 Salina Discounted
Present value of net benefits $16,350
Rate of Return on Investment
Net public benefits 10-year period $16,350
Public costs 10-year period $53,881
ROI 30.3%
Benefit-Cost Ratio
Public benefits 10-year period $70,231
Public costs 10-year period $53,881
Benefit-Cost Ratio 1.30
Page 3 of 4
In the preparation of this report, the Center for Economic Development and Business Research assumed that
all information and data provided by the applicant or others is accurate and reliable. CEDBR did not take
extraordinary steps to verify or audit such information, but relied on such information and data as provided
for purposes of the project.
This analysis requires CEDBR to make predictive forecasts, estimates and/or projections (hereinafter
collectively referred to as "FORWARD-LOOKING STATEMENTS"). These FORWARD-LOOKING
STATEMENTS are based on information and data provided by others and involve risks, uncertainties and
assumptions that are difficult to predict. The FORWARD-LOOKING STATEMENTS should not be
considered as guarantees or assurances that a certain level of performance will be achieved or that certain
events will occur. While CEDBR believes that all FORWARD-LOOKING STATEMENTS it provides are
reasonable based on the information and data available at the time of writing, actual outcomes and results
are dependent on a variety of factors and may differ materially from what is expressed or forecast. CEDBR
does not assume any responsibility for any and all decisions made or actions taken based upon the
FORWARD-LOOKING STATEMENTS provided by CEDBR
Page 4 of 4
I
-I
I
I
, .
RESOLUTION NUMBER 05-6220
A RESOLUTION ESTABLlSIDNG THE SALINA ECONOMIC DEVELOPMENT
INCENTIVES COUNCIL.
WHEREAS, that in 2004, Salina voters approved a special one-quarter cent e/4 cent) sales
tax and 12.5% of the revenues from the special sales tax were restricted to the establishment of an
economic development fund managed by the City of Salina; and
WIlEREAS, that in October 2004, the City Commission unanimously approved an
initiative proposed by the Salina Airport Authority and the Salina Area Chamber of Commerce to
provide incentives to new and existing manufacturing and primary businesses; and
WHEREAS, that the City Commission formed an ad hoc committee led by the Mayor and
Vice Mayor to further explore the protocol for expending the economic development funds, which
then resulted in the establishment of a six member Salina Economic Development Incentives
Council. SO NOW THEREFORE,
BE IT RESOLVED by the governing body of the City of Salina, Kansas:
Section 1. Establishment. That the Salina Economic Development Incentives Council
(S.E.D.I.C.) is hereby established.
Section 2. Responsibilities. The responsibilities of the S.E.D.I.C. are to:
(a) Develop and recommend guidelines, policies and processes to the City
Commission for grants from the allocated special sales tax funds for incentives to
new and existing manufacturers and primary businesses for the purpose of
enticing them to relocate or expand capital and/or human investment in
Salina/Saline County in order to provide a stimulus to the local economy;
(b) Review applications and make specific recommendations to the City
Commission regarding grants from the sales tax;
(c) Make recommendations to the City Commission, County Commission and/or
local government bodies regarding other public economic development
incentives; and
(d) Provide regular reports to the City Commission, County Commission, Salina
Airport Authority Board of Directors and the Chamber of Commerce Board of
Directors regarding economic development projects receiving incentives.
Section 3. Membership. The S.E.D.I.C. will be made up of the following persons:
(a) Mayor;
(b) Saline County Commission Chair;
(c) Salina Airport Authority Board Chair;
(d) Salina Chamber of Commerce Board Chair;
(e) Two citizens appointed by the Mayor and the City Commission; and
(f) Citizen appointed by the Saline County Commission
The citizens appointed by the City and County shall serve for terms of two years and shall be
eligible for reappointment in accordance with Resolution No. 90-4242. Initial city citizen
appointments shall be staggered to expire February 2007 and February 2008.
Section 4. Organization. The S.E.D.I.C. chair shall be the Mayor and vice-chair shall be the
Saline County Commission Chair.
Section 5. Administration. Administration of the S.E.D.I.C. shall be as follows:
(a) Meetings are to be held at least quarterly, and otherwise as needed for related
projects, projects, programs and funding applications;
(b) Professional staffing for the S.E.D.LC. to be provided by the City Manager,
Airport Authority Executive Director and Chamber of Commerce President;
I
(c) AdminiStrative/clericalsupport shall be provided by the Chamber of Commerce;
(d) All meetings/records are covered under the Kansas Open Meetings Act and Open
Records Act as specified by State law; and
(e) The use oflocaI organizations and other resources is highly encouraged.
Section 6. Miscellaneous. Miscellaneous considerations regarding this council are as
follows:
(a) For purposes of the S.E.D.LC. "primary business" includes manufacturing,
processing, interstate distribution, research, or service sector businesses which
derive a minimum of 90% of revenue from sources outside Saline County;
(b) Sales tax grants are to focus primarily on human capital investment in training
and capital investment in plant, property and equipment, with priority given to
human capital investment in training. Also, it is important to ensure that existing
primary businesses remain eligible for grant funding; and
I
(c) A program performance review is recommended in the fourth quarter of 2006.
This will allow for a full year of operation and provide an opportunity to make
any adjustments deemed necessary for the remaining term of the special sales tax
funding.
Section 7. Effective Date. This resolution shall take effect from and after its adoption.
2005.
Adopted by the Board of Commissioners and signed n the Mayor this 24th day of October,
~~.
Deborah Divine, Mayor
[SEAL]
ATTEST:
~~Clm
I
CITY OF SALINA
SPECIAL 1/4 CENT SALES TAX CASH FLOW DETAIL
Commitment or
Receipts Expenditure Encumbrance Balance Comment
9/24/2004 $ 15,487,57 $ 15,487.57 Sales Tax Distribution
9/30/2004 $ 2.47 $ 15,490.04 Interest Allocation
10/28/2004 $ 23,961.92 $ 39,451.96 Sales Tax Distribution
1 0/31/2004 $ 30.77 $ 39,482.73 Interest Allocation
11/29/2004 $ 25,183.70 $ 64,66GA3 $al~.s Tax Distribution
11/30/2004 $ 87.59 $ 64,754.02 Interest Allocation
12/7/2004 $ (10,772.19) $ 53,981.83 Sales Tax Distribution
12/22/2004 $ 11,717.48 $ 65,699.31 Sales Tax Distribution
12/31/2004 $ 225.98 $ 65,925.29 Interest Allocation
1/31/2005 $ 24,098.65 $ 90,023.94 Sales Tax Distribution
1/31/2005 $ 187.40 $ 90,211.34 Interest Allocation
2/1/2005 $ 24,260.81 $ 114,472.15 Sales Tax Distribution
2/28/2005 $ 26,839.81 $ 141,311.96 Sales Tax Distribution
2/28/2005 $ 50.75 $ 141,362.71 Interest Allocation
3/31/2005 $ 22,092.24 $ 163,454.95 Sales Tax Distribution
3/31/2005 $ 111.97 $ 163,566.92 Interest Allocation
4/28/2005 $ 21,564.60 $ 185,131.52 Sales Tax Distribution
4/30/2005 $ 142.59 $ 185,274.11 Interest Allocation
5/27/2005 $ 23,913.56 $ 209,187.67 Sales Tax Distribution
5/31/2005' $ 416.53 $ 209,604.20 Interest Allocation
6/16/2005 $ 10,000..00 $ 199,604.20 Salina Downtown Fac;ade Program
6/16/2005 $ 20,000.00 $ 40,000.00 $ 139,604.20 North Central RPC 3 year program
6/28/2005 $ 22,076.99 $ 161,681.19 Sales Tax Distribution
6/30/2005 $ 174.69 $ 161,855.88 Interest Allocation
7/27/2005 $ 23,315.15 $ 185,171.03 Sales Tax Distribution
7/31/2005 $ 242.75 $ 185,413.78 Interest Allocation
8/29/2005 $ 25,236.53 $ 210,650.31 Sales Tax Distribution
8/31/2005 $ 288.47 $ 210,938.78 Interest Allocation
9/28/2005 $ 23,396.01 $ 234,334.79 Sales Tax Distribution
9/30/2005 $ 180.77 $ 234,515.56 Interest Allocation
1 0/27/2005 $ 24,734.47 $ 259,250.03 Sales Tax Distribution
10/31/2005 $ 293.49 $ 259,543.52 Interest Allocation
11/30/2005 $ 734.98 $ 260,278.50 Interest Allocation
12/27/2005 $ 23,519.43 $ 283,797.93 Sales Tax Distribution
12/31/2005 $ 616.03 $ 284,413.96 Interest Allocation
1/31/2006 $ 25,005.65 $ 309,419.61 Sales Tax Distribution
1/31/2006 $ 1,123.26 $ 310,542.87 Interest Allocation
2/27/2006 $ 27,991.50 $ 338,534.37 Sales Tax Distribution
2/28/2006 $ 490.98 $ 339,025.35 Interest Allocation
3/6/2006 $ 50,000.00 $ 289,025.35 Kansas Army National Guard
3/30/2006 $ 22,110.37 $ 311,135.72 Sales Tax Distribution
3/31/2006 $ 978.63 $ 312,114.35 Interest Allocation
4/28/2006 $ 22,544.02 $ 334,658.37 Sales Tax Distribution
4/30/2006 $ 1,212.58 $ 335,870.95 Interest Allocation
5/31/2006 $ 25,767.51 $ 361,638.46 Sales Tax Distribution
5/31/2006 $ 1,586.69 $ 363,225.15 Interest Allocation
6/30/2006 $ 24,729.35 $ 387,954.50 Sales Tax Distribution
6/30/2006 $ 759.06 $ 388,713.56 Interest Allocation
7/26/2006 $ 20,000.00 $ (20,000.00) $ 388,713.56 North Central RPC 3 year program
7/28/2006 $ 24,669.37 $ 413,382.93 Sales Tax Distribution
7/31/2006 $ 1,749.45 $ 415,132.38 Interest Allocation
8/2/2006 $ 12,000.00 $ 403,132.38 Salina Downtown Fac;ade Program
8i31/2006 $ 1,749.37 $ 404,881.75 Interest Allocation
9/5/2006 $ 29,657.15 $ 434,538.90 Sales Tax Distribution
9/28/2006 $ 23,832.53 $ 458,371.43 Sales Tax Distribution
9/30/2006 $ 3,005.14 $ 461,376.57 Interest Allocation
10/31/2006 $ 3,226.75 $ 464,603.32 Interest Allocation
11/2/2006 $ 26,568.73 $ 491,172.05 Sales Tax Distribution
11/30/2006 $ 24,704.54 $ 515,876.59 Sales Tax Distribution
11/30/2006 $ 5,390.16 $ 521,266.75 Interest Allocation
12/3/2006 $ 76,171.71 $ 445,095.04 Raytheon Development Project
12/13/2006 $ 53.828.29 $ 391,266.75 Raytheon Development Project
12/28/2006 $ 24,567.26 $ 415,834.01 Sales Tax Distribution
City of Salina - Special 1/4 Cent Sales Tax Cash Flow Detail
CITY OF SALI NA
SPECIAL 1/4 CENT SALES TAX CASH FLOW DETAIL
12/31/2006 $ 6,423.04 $ 422,257.05 Interest Allocation
1/30/2007 $ 24,665.79 $ 446,922.84 Sales Tax Distribution
1/31/2007 $ 3,073.42 $ 449,996.26 Interest Allocation
2/28/2007 $ 2,741.00 $ 452,737.26 Interest Allocation
3/2/2007 $ 31,112.33 $ 483,849.59 Sales Tax Distribution
3/2912007 $ 21,851.50 $ 505,701.09 Sales Tax Distribution
3/31/2007 $ 2,212.32 $ 507,913.41 Interest Allocation
4/30/2007 $ 23,184.03 $ 531,097.44 Sales Tax Distribution
4130/2001 $ 2,244.28 $ 533,341.72 Interest AJI6ccition~-
5/30/2007 $ 27,796.70 $ 561,138.42 Sales Tax Distribution
5/31/2007 $ 2,472.52 $ 563,610.94 Interest Allocation
6/30/2007 $ 2,442.48 $ 566,053.42 Interest Allocation
7/6/2007 $ 24,940.17 $ 590,993.59 Sales Tax Distribution
7/18/2007 $ 15,000.00 $ 575,993.59 Salina Downtown Fa~ade Program
7/31/2007 $ 3,335.58 $ 579,329.17 Interest Allocation
8/6/2007 $ 25,951.39 $ 605,280.56 Sales Tax Distribution
8/6/2007 $ 24,000.00 $ 581,280.56 Premier Pneumatics
8/15/2007 $ 20,000.00 $ (20,000.00) $ 581,280.56 North Central RPC 3 year program
8/30/2007 $ 26,428.83 $ 607,709.39 Sales Tax Distribution
8/31/2007 $ 607,709.39 Interest Allocation
8/31/2007 $ (50,000.00) $ 657,709.39 Kansas Army National Guard
8/31/2007 $ 4,839.93 $ 662,549.32 Interest Allocation
9/24/2007 $ 52,520.00 $ 610,029.32 Hawker Beechcraft
9/30/2007 $ 2,727.87 $ 612,757.19 Interest Allocation
10/2/2007 $ 26,030.30 $ 638,787.49 S,,!les Tax Distribution
10/31/2007 $ 29,210.05 $ 667,997.54 Sales Tax Distribution
10/31/2007 $ 2,161.36 $ 670,158.90 Interest Allocation
11/30/2007 $ 23,282.55 $ 693,441.45 Sales Tax Distribution
11/30/2007 $ 2,719.40 $ 696,160.85 Interest Allocation
12/31/2007 $ 26,013.21 $ 722,174.06 Sales Tax Distribution
12/31/2007 $ 4,740.95 $ 726,915.01 Interest Allocation
1/1/2008 $ 50,000.00 $ 676,915.01 Salina Downtown Fa~ade Program
1/2812008 $ 45,000.00 $ 631,915.01 Entreprenuership Program
1/31/2008 $ 2,537.03 $ 634,452.04 Interest Allocation
2/1/2008 $ 26,978.35 $ 661,430.39 Sales Tax Distribution
2/25/2008 $ 49,200.00 $ 612,230.39 CAY Aerospace
2/27/2008 $ 30,615.89 $ 642,846.28 Sales Tax Distribution
Totals To date $ 1,090,566.28 $ 227,000.00 $ 220,720.00 $ 642,846.28
Revenues
$ 1,020,835.80 Sales Tax Distribution
$ 69,730.48 Interest Allocation
$ 1,090,566.28 Total
Expenses and Commitments
$ 37,000.00 $ 50,000.00 $ 87,000.00 Salina Downtown Fa~ade Program
$ 60,000.00 $ $ 60,000.00 North Central RPC 3 year program
$ 130,000.00 $ $ 130,000.00 Raytheon Development Project
$ $ 52,520.00 $ 52,520.00 Hawker Beechcraft
$ $ 24,000.00 $ 24,000.00 Premier Pneumatics
$ $ 45,000.00 $ 45,000.00 Entreprenuership Program
$ $ 49,200.00 $ 49,200.00 CAY Aerospace
$ $ $ Kansas Army National Guard
$ 227,000.00 $ 220,720.00 $ 447,720.00 Total
City of Salina - Special 1/4 Cent Sales Tax Cash Flow Detail