MRRA Board Meeting October 14, 2015 at 4:00 P.M. Topsham Town

Transcription

MRRA Board of Trustees Meeting - Agenda
MRRA Board Meeting
October 14, 2015 at 4:00 P.M.
Topsham Town Hall, 100 Main St., Topsham, ME
Agenda
Agenda Item
1.
2.
3.
4.
5.
Requested Action
Board Meeting - Welcome and Introductions
Host Community Comment
Minutes from the July 22, 2015 Board Meeting
Showcase of TCP business: Firehouse Tumbling LLC (Jill Partridge)
Featured MRRA Employee: Ben Sturtevant
6. Committee Reports
∑ Finance Committee
o Meeting Notes of September 16, 2015
o FY2015 Financial Audit Documents
ß
Financial Statement
ß
Management Letter
ß
Report to Federal Government
ß
MRRA Adjusting Journal Entries
o Quarterly Financials
ß
Consolidated Financial Reports – September 30
ß
Bank Reconciliation Statement – September 30
ß
Detailed Transaction Reports – September 30
o FAA Grant
∑ Executive Committee
o Meeting Notes of September 1 and October 6
∑ Redevelopment Committee
o Meeting Notes of August 18
7.
8.
9.
10.
11.
12.
TIF MOA with Town of Brunswick
Executive Director’s Report
Other Business
Public Comment
Executive Session – Property Disposition Matters (1 MRSA Sec. 405(6)(C))
Adjourn
Approval
Acceptance
Acceptance
Acceptance
Ratification
PLEASE NOTE: MRRA’S 8TH ANNUAL MEETING AND DINNER WILL BE HELD
WEDNESDAY, NOVEMBER 18, 2015, AT THE FREEPORT HILTON GARDEN INN
(MEETING: 4:00 P.M., RECEPTION: 5:00 P.M., AND DINNER: 6:30 P.M.
Please check our website at www.mrra.us for more details and updates, or call us at 207-798-6512
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MRRA Board of Trustees Meeting - Minutes from July 22, 2015 Board Meeting
MIDCOAST REGIONAL REDEVELOPMENT AUTHORITY
Meeting Minutes MRRA Board Meeting
July 22, 2015
Present:
John Peters (Chair), Rita Armstrong (Vice Chair), Steve Weems,
George Gervais, Lois Skillings, John Kilbourne
Excused:
John Moncure, John Bouchard, John Dorrer, and Carl Flora
Staff:
Steven Levesque, Jeffrey Jordan, and Kathy Paradis
Location:
Brunswick Town Hall
Time:
4:00 p.m.
Welcome & Introductions. Board Chair John Peters welcomed the Board and
attendees. Chair Peters then invited the attendees at the meeting to introduce
themselves.
Host Community Comment: John Eldridge welcomed the Board to
Brunswick, noted the Town’s and MRRA’s unique relationship. He said he was
pleased with MRRA’s redevelopment efforts and was happy to recently attend
business openings and celebrations at Brunswick Landing. John Peters
thanked him and said it was a great partnership.
Minutes of May 27, 2015. Lois made a motion to accept the minutes of the
May 27, 2015 Board meeting, which was seconded by Steve Weems. The vote
was unanimous of the Board members present.
Executive Director’s Report.
∑
Property Conveyances
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Executive Director Steve Levesque said that since the approval of the Public
Benefit Conveyance and the signing of the Economic Development Conveyance
Purchase and Sale Agreement in 2011, the Navy has transferred approximately
1,761 acres of the approximately 2,100 acres we are slated to receive. The
Public Benefit Conveyances of property are expected in early fall and will add
about 50 acres and five buildings to MRRA’s holdings (See attached FOST
location maps).
Public benefit conveyances of land and buildings have been made or are in the
process of being conveyed to Southern Maine Community College, Bowdoin
College, Town of Brunswick and Family Focus. All the remaining properties at
the former NASB and Topsham Annex will be conveyed once appropriate
environmental clearances are obtained.
∑
TechPlace
Steve said the grand opening event of TechPlace was held on May 28th and
featured speeches by the Governor and MRRA Chairman, John Peters. Well
over 100 people attended the event on a beautiful May morning to celebrate the
opening.
TechPlace now consists of about 70,000 SF of office, industrial and common
spaces. We are excited to report that we have 15 companies in TechPlace with
a couple more ready to sign on.
In addition to our tenant’s use of the facility, TechPlace has already been
utilized by a number of partner organizations for training and networking
events. We commenced our business information and educational series in
June, but will be taking a break in July and August.
Steve said he was very happy to report that MRRA was awarded a $299,040
grant from the Maine Technology Institute to support the build-out and
equipping of the tech shop and biotech lab spaces.
∑
Federal Update
HUBZone Legislation
Since the last Board meeting in May, some significant movement on this
legislation has occurred. Due to the perseverance of our Congressional
delegation members, their language was supported in both the House and the
Senate versions of the 2015 National Defense Authorization Act (NDAA), which
is awaiting approval. This was a substantial shift for the House compared to
last year’s efforts. The House and Senate have agreed on the final language,
which slightly altered the language to include neighboring census tracts and
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extended the HubZone out until 2020. We are now awaiting the final NDAA
enactment by Congress and the President.
Steve said that MRRA is so fortunate and thankful to continue to have a nonpartisan unified congressional approach to supporting this redevelopment
effort; a sentiment that was echoed by several Board members.
Local Community Updates
∑
Town of Brunswick. Steve said MRRA continues to work with the Town of
Brunswick staff on several fronts: life safety code compliance on building
rehabilitation, facilitation of development permitting, and providing input
into the Town’s zoning ordinance rewrite. In addition, MRRA has submitted
a subdivision plan to include properties added in recent conveyances
adjacent to the former police station and Frosty’s. This will permit the
acquisition of the building by Frosty’s that they are currently leasing and
facilitate other future sales in that area. Pursuant to discussions with
Town staff, we are also adding the adjacent properties that will be
transferred later this fall.
On July 14, the Brunswick Planning Board approved the final site plan for
the 50,000 SF Avita Memory Care facility at the site of the former NASB
mobile home park. Construction is planned to commence very soon.
∑
Town of Topsham. Now that MRRA is in receipt of new properties in
Topsham from the Navy, staff is working with SAD 75 and Affordable Mid
Coast Housing on the conveyance of the open space portions pursuant to a
previous agreement between the parties. In addition, we are working with
Town staff on additional environmental assessments at the Commerce Park
as part of a regional Brownfields grant. We have closed on the sale of the
former fire station to Firehouse Tumbling and will be using those proceeds
to remove a blighted building and remaining foundations.
Redevelopment Activity Review
∑
General Overview. Property lease and sale activity continues to be very
brisk at Brunswick Landing and the Topsham Commerce Park. We
currently have over 453,000 SF under lease to over 23 direct tenants and
nearly 65 entities doing business on the former base properties.
Collectively, these entities employ approximately 544 people on a full-time
basis and 185 on a part-time basis for a total of 729 with a promise of
double that number in just a few short years (see attached employment
table). It should also be noted that there are 160 Maine Army National
Guard members and 124 Marine Corps Reservists assigned to their units at
Brunswick Landing. In addition, the new L.L. Bean project at Brunswick
Landing underway will result in the creation of up to 75 new jobs at the off-
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site Brunswick manufacturing facility. On the sale side, we have an
additional 65,000 SF and approximately 40 acres under contract.
New private and public construction activity in 2015 totaling nearly $40
million at Brunswick Landing and the Topsham Commerce Park include:
o the construction of the new Sunray veterinarian clinic on Admiral
Fitch Avenue by the Priority Group (completed);
o a major renovation to the former Navy Hotel to complete Coastal
Landing, a senior housing complex, by Rousseau Enterprises that is
opening in September and currently taking reservations;
o the construction of the anaerobic digester facility by Village Green
Ventures;
o the construction of a 50,000 SF memory care facility on Admiral Fitch
Avenue by Avita Brunswick;
o the construction of a new gas station/convenience store across from
Merrymeeting plaza by the Priority Group;
o the renovation of the former Topsham Fire Station by Firehouse
Tumbling;
o the renovation of the former Night Flight building by George Schott;
o the renovation of the former Navy fitness center by Thomas Wright
that will be opening in the fall (Bath YMCA’s annex);
o the construction of a new snow removal equipment (SRE) building by
MRRA;
o TechPlace renovations by MRRA;
o renovations for energy efficiency and lighting to Hangars 4 and 5 by
MRRA;
o renovations to the airport pump facility by MRRA; and
o Airfield drainage improvements by MRRA.
In addition the current construction activity, several other commercial and
office buildings are scheduled to commence construction this summer and fall
along Admiral Fitch Avenue and adjacent properties.
∑
Housing Sales. Steve noted that 80% of the former base housing sold has
been to low to moderate income families. To date, Affordable Mid Coast
Housing has closed on 154 housing units in the McKeen Street
neighborhood, and a number of others are under contract. By our
agreement with AMH, after $1,000,000 in land sales have been realized (i.e.,
20% of the purchase price), MRRA receives 5% of the purchase price of each
unit sold. Land sales now total $2,980,304.00 and MRRA has received
$667,003.50 to date for its agreed share.
∑
Marketing Update. It has been a very busy second quarter for MRRA staff
on the business attraction marketing effort. Since receiving the Invest in
Maine grant award, we have attended a number of trade shows aimed at
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promoting our assets and securing foreign direct investment focusing on
European and Canadian companies (see attached quarterly marketing
report to MITC). Steve noted that in terms of MRRA’s outreach efforts, it is
ahead of its goals.
Steve invited everyone to MRRA’s August 19 Open House and Cookout at 8
Venture Avenue.
Steve advised that a rental agreement had been signed with the Marine Corps
to store toys for its Toys for Tots campaign in former small arms range building
#102.
Steve informed that Mitch Rousseau’s Coastal Landing facility at the former
Navy hotel for senior housing and assisted living is now taking reservations.
Chair John Peters took the opportunity to talk about the Association of Defense
Communities Conference in which Steve (as well as staff) was awarded
community leadership award. John said it was impressive to note that entire
delegation was there to witness and make the presentation to Steve.
Committee Reports
Executive Committee.
Chair John Peters said the Committee met on June 2 and July 7, and
discussed the following:
At the June 2 meeting, Steve reported that the Navy is going forward and
supporting the sale of the Chapel to the Brunswick Naval Museum and
Memorial Gardens, which MRRA will finance.
At the June meeting, Tom Brubaker, MRRA’s Public Works and Utility
Manager, gave a detailed report of the bid process for the Burbank Avenue
Parking Lot Rehabilitation Project, noting that a total of five bids were received.
Based upon a review of the bid documents it was determined that ETTI
submitted a competitive bid and is capable of satisfactorily completing the
project at the price bid.
At the July 7 Executive Committee:
∑
Hangar 6 Door Improvements: The Committee approved awarding the bid to
HardyPond after Steve Levesque gave an overview of staff’s recommendation
for contract award, noting that two bids were received and that Hardypond
was within 3% of the engineer’s estimate.
∑
Health Insurance for MRRA: The Committee approved awarding the bid to
Maine Municipal Employees Health trust (POS200 and POS1000 plans) after
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Deputy Director Jeffrey Jordan gave a detailed review of the bid process,
noting that he and Joseph King, the Account Executive for Employee
Benefits at Cross Insurance, recommend that the award go to Maine
Municipal Employees Health Trust’s POS200 and POS1000 plans.
∑
HVAC: The Committee approved awarding the bid to Thayer Corporation
after Steve reviewed a detailed memo on the RFQ/RFP procedure, noting
that four bids had been received and after careful evaluation, staff
recommended the bid be awarded to Thayer Corporation.
Finance Committee
John Peters announced that Steve Weems is the new Finance Committee Chair
since Dan Daggett’s stepped down due to time constraints.
Committee Chair Steve Weems said the committee met twice on June 17 and
July 15.
At the June meeting, the May 30 financials were reviewed and found to be in
order. The Committee met with Hank Farrar, auditor from RKO, to review the
scope of the FY2015 audit and to discuss internal controls.
Steve Weems reviewed the preliminary financial statements for the period
ending June 30, 2015, noting that the reports were prepared just days after the
close of the month and would not therefore include the comprehensive
accounting of receivables and payables at the end of the fiscal year in
preparation for the audit. A more complete report will be presented in August.
Action Item: Steve Weems made a motion that the MRRA Board of Trustees
accept the Financial Statements for the period ending June 30, 2015, as
recommended by the Finance Committee, which was seconded by Rita
Armstrong. The vote was unanimous of the Board members present.
accept a grant from Efficiency Maine in the amount of $144,900 for
reimbursement for energy saving improvements made to hangars 4, 5 and 6
and said revenue to be applied the FY 2015 Airport Budget Miscellaneous
Revenue Account, as recommended by the Finance Committee, which was
seconded by Rita Armstrong. The vote was unanimous of the Committee
members present.
accept a grant from the Maine Technology Institute in the amount of $299,040
to fund the fit-up of bio-tech laboratory and tech shop spaces and to purchase
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laboratory and manufacturing equipment for TechPlace and be it further
moved, that matching funds will be provided through an appropriation of
$299,100 from the Reserve Fund Capital Reserve Budget (current balance of
$953,318.34), which was seconded by Rita Armstrong.
The vote was
unanimous of the Board members present.
John Peters noted that that the sewer issues will be gone after the Brunswick
Sewer District takes the utility system over. He said the same holds true for
the roads at Brunswick Landing (the Town of Brunswick will be taking over the
roads at some point in the future). When these takeovers occur, MRRA staff
will decrease.
Steve Levesque presented the updated quarterly MRRA Dashboard with
MRRA’s key performance indicators.
Other Business: Stan Gerzofsky talked about the history of Southern Maine
Community College as it relates to Brunswick Landing. He was happy to
report that this year SMCC funding went before the LCRED Committee and it
received $410,000 in funding. SMCC continues to be a workforce catalyst for
businesses at Brunswick Landing.
John Peters thanked Stan for being on the Brunswick Local Redevelopment
Authority Board during the planning phase.
Public Comment: None
Executive Session: A motion was made at 5:10 p.m. by George Gervais and
seconded by John Kilbourne to go into Executive Session pursuant to MRSA
Sec. 405(6)(C). The vote was unanimous of the Board members present.
At 6:00 p.m. a motion was made and seconded to adjourn from the Executive
Session and resume the Board meeting. The vote was unanimous of the Board
members present. The Board reported on the following action items:
Action Item: Rita Armstrong made a motion that the Board authorize the
Executive Director to enter into Purchase and Sale Agreements, and all other
documents to complete the sale and deed transfers on Lots 11 and 12, for
$125,000 and $98,000, respectively, as recommended by the Redevelopment
Committee, subject to the following conditions, as applicable:
ÿ MRRA’s design standards will be met;
ÿ Sales will be subject to obtaining permitting within one year of
closing;
ÿ Sales will be subject to breaking ground for an eligible project within
two years of closing, and having a date-certain completion date;
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ÿ Sales will be subject to signing a Road and Common Facilities
Maintenance Agreement, which will spell out the shared cost of
maintaining the roadways at Brunswick Landing; and
ÿ Sales will be subject to signing a Utilities Service Agreement in which
the purchaser agrees to a tenancy-in-common with regard to
electrical, water, storm water, and sanitary sewer services at
Brunswick Landing.
The motion was seconded by Steve Weems, and the vote was unanimous
of the Board members present.
Action Item: Rita Armstrong made a motion that the Board authorize the
Executive Director to enter into Purchase and Sale Agreements, and all other
documents to complete the sale and deed transfer on Lot 19 (the former Navy
Chapel building and associated land) to the Brunswick Naval Museum and
Memorial Gardens (BNM&MG) for fair market value consideration ($220,000)
with MRRA holding a demand note in payment thereof. The note will be held
without a regular payment schedule, which could be demanded in full if the
following conditions are not met:
∑
∑
∑
∑
∑
∑
Museum must occupy no less than 75% of the building space within
three years and maintain such use.
Museum must have regular open hours of operation.
Any sub-tenants must compliment the use of the building as a museum
and be approved by MRRA.
Building and systems must be maintained in proper working order.
Memorial gardens must be continually maintained.
BNM&MG will show MRRA as a "top level" sponsor of the museum.
The BNM&MG may pay off the balance note at any time. If BNM&MG desires
to sell the building, MRRA would have first right of refusal to purchase the
building at a price of $220,000. If MRRA consents to a sale of the building,
MRRA would also be entitled to 20% of the sales price of the building over
$220,000. MRRA would share the appropriate revenue due the Navy in
accordance with our EDC agreement, under any sale scenario.
The motion was seconded by Steve Weems and the vote was unanimous of the
Board members present.
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Adjournment: A motion was made by Rita Armstrong at 6:10 p.m. to adjourn
from the Board meeting, which was seconded by Steve Weems. The vote was
unanimous of the Board members present.
_____________________________________
Lois Skillings, Secretary
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MRRA Board of Trustees Meeting - Committee Reports
Finance Committee
Meeting Notes
September 16, 2015
Members Present:
Steve Weems, Finance Committee Chair
Rita Armstrong
George Gervais
John Peters
Members Absent:
none
Others Present:
none
Staff Present:
Jeffrey K. Jordan, Deputy Director
Steve Levesque, Executive Director
Michael Russo, Bookkeeper
Location:
MRRA Board Room, 15 Terminal Road
The meeting was called to order at 8:05 a.m. The Chair noted that the Finance Committee is down
two members due to resignations.
1.
Agenda.
The Chair announced there was a quorum
2. Review Meeting Notes – August 19 , 2015
The Finance Committee reviewed the meeting notes of August 19, 2015. A motion was made and
seconded to approve the meeting notes as presented. Vote: In Favor 3; Opposed 0; Absent 1.
New Business
3. Financial Reports as of August 30, 2015
a. Consolidated financial reports – profit and loss, balance sheet and statement of cash
flows for all MRRA entities for the period ending August 30, 2015
b. Bank Reconciliation Statement – August 30, 2015
c. Transaction List by Tenant – August 2015
d. Transaction List by Vendor – August 2015
e. Journal Entries – August 2015
Page 1 of 5
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Revenue/ Expenses
Closed Out Accounts
FY 2016 MRRA Operating Budget
FY 2016 Airport Budget
FY 2016 OEA Grant Budget
FY 2016 Electrical Utility Budget
FY 2016 Water Budget
FY 2016 Sewer and Stormwater Budget
Grants Fund CIP Budget
Homeless Assistance
Reserves
$18,253,798
$21,448,555.73
$23,179,921.71
($1,731,365.98)
$597,700
$925,000
$640,800
$1,555,200
$44,100
$79,400
$17,821,939
$686,605
$0
$40,604,542
$149,797.41
$138,446.47
$0.00
$114,292.08
$3,339.81
$3,148.79
$8,848,597.79
$292,354.03
$46,991.99
$9,596,968.37
$130,922.84
$150,751.49
$107,194.14
$75,742.70
($5,720.83)
$64,116.09
$10,605,404.15
$302,247.71
($5,031,230.62)
$6,399,427.67
$18,874.57
($12,305.02)
($107,194.14)
$38,549.38
$9,060.64
($60,967.30)
($1,756,806.36)
($9,893.68)
$5,078,222.61
$3,197,540.70
$31,045,524.10
$29,579,349.38
$1,466,174.72
Totals
q
FY 206 MRRA Operating Budget. Revenue through August 31 totaled $144,084, including a
payment by the State of Maine of $53,022 for J-TIF revenues for calendar year 2014 (25.0% of
state income tax paid by new employees at Brunswick Landing) and $59,550 from AMH sale of
property revenue sharing. Expenditures totaled $139,520 with the largest expenditures in
August including Engineering Services of $11,098 for parking lot design, survey of FOST parcel
and building slab RFP preparation; $7,402 for two leaf bagger attachments to the zero-turn
lawn mowers; ad $21,233 of building repairs including a $8,144 kitchen renovation and boiler
repair of $4,978 at MTI’s leased space and sprinkler quarterly testing of $2,416 for a number of
buildings. With net transfers in of $9,219 the current surplus is $18,874.57.
Rita Armstrong entered the meeting.
q
FY 2016 Airport Budget. Revenue through August 31 collected or invoiced was $138,446.
Expenditures totaled $147,551. The largest expenditures in August included $19,325 in building
repair expenses including $5,030 cleaning of tube heaters in hangar 6, boom rental for lighting
project $4,290 and $3,621 of repairs to building 250 to repair a water leak. Other expenses
included $30,936 in local match on FAA projects and $7,284 on weed removal from taxiways
and runways. With net transfers out of $3,200 the current deficit is $12,305, down from
$24,929.87 last month.
q
FY 2016 OEA Budget. At the end of August the wages and benefits for the ten staff funded by
OEA totaled $219,594. With transfers in from MRRA of $114,400, the current receivable from
OEA is $107,194, which has been requested from OEA.
q
FY 2015 Electric Budget. The report for August includes anticipated revenue billed for $114,292
for July. Expenditures through the end of August only include CMP charges for July and no
energy charges for July. With transfer out of $23,000 the current surplus is $38,549.
q
FY 2015 Water Budget. The report for August includes billing for water through July.
Expenses include July’s bill from the Brunswick and Topsham Water District of $14,170. With
net transfers in of $23,400 there is a current budget surplus of $9,060.
.
q
FY 2015 Stormwater and Sewer Budget. The report for August includes anticipated revenue
from sewer utility billings for July of $3,149. Expenses include July’s bills from the Brunswick
Page 2 of 5
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Sewer District of $34,138. With net transfers in of $3,800 there is a current budget deficit of
$60,967.
q
Brunswick Landing Realty Development (TechPlace). TechPlace currently has 13 paying
tenants, which were invoiced a total of $21,649 in lease payments through August.
Expenditures to date total $21,987. Expenses in August include $9,980 for building
maintenance, $6,900 for a booster/repeater system for cellphones and cabling. With transfers
in of $150,000 the current budget surplus is $148,088.24.
q
Grant Fund Budget. The Grant Fund budget is a cumulative budget back to the date of the
respective grant award. This includes the State Bond Issue, all FAA AIP funds, the MaineDOT
match, and three EDA Projects. The Grant Fund includes six FAA approved projects totaling
$4.6 million currently under construction. The current deficit is $1.973 million and is a timing
issue with drawdowns from the FAA, EDA and the State of Maine.
The Committee voted to recommend that the Board of Trustees accept the following grants from
the Federal Aviation Administration and the MaineDOT and authorize the following projects. Vote: In
Favor 4; Opposed 0;
FAA Share
MaineDOT
Share
MRRA Share
FAA Military Airport Program - Grant 018
Air Field Pavement and Repair
$150,000.00
$8,333.33
$8,333.33
Hangar 6 Door Improvements
$1,049,364.00
$58,298.00
$58,298.00
Center Line Light Removal 1R-19L
$1,600,000.00
$88,888.89
$88,888.89
Improvements to Hangar 5 Heating
$1,700,000.00
$94,444.44
$94,444.44
Total
$4,499,364.00
$249,964.67
$249,964.67
q
Reserve Funds – The Reserve Fund tracks revenues, appropriations and expenses, and
transfers to MRRA operating entities from the sale of property. The reserve fund balance at
the end of August is $5,078,223.
q
Homeless Assistance Fund - In May 2012, funds began being distributed to Tedford Housing. As
of August 30, $302,278 had been distributed to Tedford. The Reserve Fund (on the balance
sheet) has a balance of $267,109.
Page 3 of 5
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Other MRRA Entities
q
Brunswick Landing Economic Development Corporation – There was no activity in August.
q
Brunswick Landing MHC USA, LLC - Brunswick Landing MHC USA has taken in $194,948 of
income through August 2015. Interest expense to date is $101,701 on the Loan from CCML
Community Development XXII and transferred $50,074 into the reserve for the balloon
payment due in January of 2019.
.
q
Midcoast Charitable Foundation of Maine - The Midcoast Charitable Foundation paid $60 to
the State of Maine for a liquor license for the Great State of Maine Air Show and Directors and
Officers Liability Insurance.
The Deputy also presented the Balance Sheet, Bank Reconciliation Statement, Statement of Cash
Flow, Transaction List by Tenant, Transaction List by Vendor, and Journal Entries for August.
Rita Armstrong raised a question about journal entry 2020 regarding depreciation of land
improvements made on August 19. The Deputy agreed to research and follow up with the Finance
Committee.1
The Committee voted to accept financial reports for the period ending August 30, 2015 Vote: In
Favor: 4; Opposed: 0.
Steve Levesque and Jeffrey Jordan discussed the application to Bath Savings Institution regarding a
request to increase the line of credit from $500,000 to $1,500,000 in order to assist in the cash flow
needs of Airport Improvement Program grants from the FAA. MRRA is required to pay the entire
amount of design and construction invoices and then seek 90% reimbursement on a periodic basis
from the FAA and 5% reimbursement from MaineDOT upon the close out of each grant. The
Committee voted to recommend to the Board of Trustees that it authorize the Executive Director to
sign a promissory note with Bath Savings on the revised line of credit of up to $1.5 million. Vote: In
Favor: 4; Opposed: 0.
New Agenda Item. The Deputy handed out a copy of a letter from Hank Farrar of Ruynon Kersteen
and Ouellette (RKO) dated September 15 regarding an extension of the current auditing contract.
The original RFP for auditing services included a three year agreement with two successor one year
renewal options. We have just completed our third year of this agreement. RKO has offered both a
one year and two year extension. The Deputy recommended that the Finance Committee
recommend to the Executive Committee approval of a two year extension of auditing services at a
cost of $23,500 for each of the two years. Vote: In Favor: 4; Opposed: 0.
George Gervais left the meeting.
New Agenda Item. The Deputy noted that he received the draft Financial Statements on Monday
along with the Management Letter and OMB Circular A-133 audit report from RKO. He handed out
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The audit does include the correct depreciation on land assets of $727,106.09 as of June 30 (Journal Entry 2030). What happened is that
when I recorded it in August as a part of the preparation of the fixed asset schedule, I originally used the default setting of “today’s” date
(August 19). I did not see it on the June 30 Balance Sheet so I entered a new journal entry (JE 2030) and selected the June 30, 2015 date. I
then did not go back and delete the first journal entry dated August 19; which has now been done.
Page 4 of 5
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copies to the Finance Committee. The Deputy noted that MRRA has received a clean option (i.e.
unmodified financial statement) from RKO. The OMB Circular Report to the Federal Government
also did not identify any deficiencies. Within the Management Letter there was only one finding,
that four receipts were missing from credit card expenditures; three missing gas receipts and an
entrance fee to the Air Exposition in Lakeland, Florida. This will be the agenda item at the next
Finance Committee meeting to be scheduled in early October.
4. Executive Session – 1 MRSA §401.6.c.
The Committee voted to go into Executive Session at 10:15 a.m. Vote: In Favor: 3; Opposed: 0.
The Committee voted to come out of Executive Session at 10:35 a. m. Vote: In Favor: 4; Opposed: 0.
Meeting was adjourned at 10:35 a.m.
Respectfully Submitted,
Jeffrey K. Jordan
Deputy Director
Next Scheduled Meeting:
Wednesday, October 7, 2015
MRRA Board Room – 7:30 a.m.
15 Terminal Road
Brunswick, Maine
Page 5 of 5
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Annual Financial Report
For the Year Ended
June 30, 2015
17
Annual Financial Report
For the Year Ended June 30, 2015
Table of Contents
Page
Independent Auditor’s Report
1-2
Management's Discussion and Analysis
3-10
Financial Statements:
Combined Statement of Net Position
Combined Statement of Revenues, Expenses and Changes in Net Position
Combined Statement of Cash Flows
Notes to Financial Statements
11
12
13
14-22
Exhibits:
Combining Statements of Net Position
Combining Statements of Revenues, Expenses and Changes in Net Position
Combining Statements of Cash Flows
Schedule of Operating Revenues – Budget to Actual
Schedule of Operating Expenses – Budget to Actual
Schedule of Activities
18
23
24
25
26
27-28
29
Certified Public Accountants and Business Consultants
Independent Auditor's Report
Board of Trustees
Midcoast Regional Redevelopment Authority
Report on Financial Statements
We have audited the accompanying financial statements of Midcoast Regional Redevelopment Authority, a
component unit of the State of Maine, as of and for the year ended June 30, 2015, and the related notes to
the financial statements, which collectively comprise Midcoast Regional Redevelopment Authority’s basic
financial statements as listed in the table of contents.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes the
design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditor’s judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or
error. In making those risk assessments, the auditor considers internal control relevant to the entity’s
preparation and fair presentation of the financial statements in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating
the appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of Midcoast Regional Redevelopment Authority, as of June 30, 2015, and the changes in
financial position and its cash flows for the year then ended in accordance with accounting principles
generally accepted in the United States of America.
19
Board of Trustees
Page 2
Other Matters
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s
discussion and analysis, as listed in the table of contents, be presented to supplement the basic financial
statements. Such information, although not a part of the basic financial statements, is required by the
Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting
for placing the financial statements in an appropriate operational, economic, or historical context. We
have applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of inquiries of
management about the methods of preparing the information and comparing the information for
consistency with management’s responses to our inquiries, the basic financial statements, and other
knowledge we obtained during our audit of the basic financial statements. We do not express an opinion
or provide any assurance on the information because the limited procedures do not provide us with
sufficient evidence to express an opinion or provide any assurance.
Other Information
Our audit was conducted for the purpose of forming an opinion on the financial statements that
collectively comprise Midcoast Regional Redevelopment Authority’s basic financial statements. The
combining financial statements, budget to actual schedules, and schedule of activities are presented for
the purpose of additional analysis and are not a required part of the financial statements.
The combining financial statements, budget to actual schedules, and schedule of activities are the
responsibility of management and were derived from and relate directly to the underlying accounting and
other records used to prepare the basic financial statements. Such information has been subjected to the
auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting
and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in
the United States of America. In our opinion, the information is fairly stated, in all material respects, in
relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued a report dated September 28,
2015 on our consideration of Midcoast Regional Redevelopment Authority’s internal control over financial
reporting and our tests of its compliance with certain provisions of laws, regulations, contracts and grant
agreements and other matters. The purpose of that report is to describe the scope of our testing of
internal control over financial reporting and compliance and the results of that testing and not to provide
an opinion on internal control over financial reporting or on compliance. That report is an integral part of
an audit performed in accordance with Government Auditing Standards in considering Midcoast Regional
Redevelopment Authority’s internal control over financial reporting and compliance.
September 28, 2015
South Portland, Maine
20
Management’s Discussion and Analysis
June 30, 2015
Introduction
This section of the annual financial report is known as Management’s Discussion and Analysis (MD&A). The MD&A
is an analysis of the financial condition and operating results of the Midcoast Regional Redevelopment Authority
(MRRA) for the period ending June 30, 2015 and is intended to introduce the basic financial statements and notes.
It is designed to provide an objective and easily readable examination of MRRA’s financial activities based on
currently known facts, decisions or conditions. This MD&A should be read in conjunction with MRRA’s financial
statements and accompanying notes.
Major Initiatives, Accomplishments and Financial Highlights – July 1, 2014 to June 30, 2015
Property Transfers
Since the approval of the Public Benefit Conveyance (PBC) and the signing of the Economic Development
Conveyance (EDC) Purchase and Sale Agreement in 2011, the Navy has transferred 1,760.24 acres of the 2,100
acres we are slated to receive. MRRA now owns 777.55 (70.82%) of the 1,098 acres of the non-airport property
and 982.69 (99.04%) of the 992.2 acres of airport land.
On August 15, 2014, the Navy transferred two public benefit parcels (AIR 2C and AIR 18), a total of 10.5 acres, and
the Air Traffic Control Building (building 231) to MRRA. This 15,660 square foot special purpose building was
constructed in 2006 and opened in 2007. On September 25, the Navy transferred an additional 21 acres of EDC
property in Brunswick and 13 acres of EDC land in Topsham to MRRA.
This year, the Navy also transferred 3.975 acres to Bowdoin College and 2.38 acres to Family Focus. This transfer
created a payment by Bowdoin to the Homeless Assistance Fund of $2,226 and a payment by Family Focus of
$1,332.
In August 2014, MRRA sold building 87, the former Wing Headquarters (52,513 square feet) and building 43 the
former Telephone Exchange building (1,156 square feet) to Affordable Midcoast Housing (AMH) (owned by
George Schott) for $5.1 million. The buildings are currently being leased by Oxford Networks for its growing data
center business. Also in August, MRRA received a supplemental payment from AMH of $75,000 as a result of
AMH’s sale of the former Navy hotel (building 750) to Rousseau Enterprises for the development of an assisted
living facility known as Coastal Landing. On September 26, MRRA sold the former Officers Club (building 516) and
a storage shed (building 460) including .29 acres to AMH for $200,000. On September 29, 2014, MRRA sold lot 31
of 1.42 acres to the Priority Group for $70,500. On November 21, MRRA sold building 54, the Applied Instruction
Building (also known as the SERES School) and building 639, the Operations Trainer Building, to the Cardente
Group for $1,387,579. Building 54 houses two tenants: the American Bureau of Shipping and Rollease. On
February 17, 2015, MRRA sold the former base Captain’s home and Executive Officer’s home to AMH for $430,000
without the land, which will be transferred at no additional charge when received from the Navy. On March 20,
MRRA sold lot 24 to the Priority Group for $80,000. Lot 24 is the land where the former building 20 (the Navy’s
credit union and post office) was located. In June, MRRA sold the former fire station in Topsham to Firehouse
Realty, which will redevelop the building into a cheerleading and gymnastics studio on a .75 acre parcel. Total
property sale revenue in FY 2015 was $7,507,553.
To date, AMH has closed on 149 housing units in the McKeen Street neighborhood. Under our revenue sharing
agreement with AMH, MRRA receives 5.0% of the purchase price of each unit sold after the first $5.0 million of
sales. MRRA has received a total of $684,066 to date for its agreed share.
3
21
Management’s Discussion and Analysis, Continued
June 30, 2015
TIF Districts
In July 2013, the Town of Brunswick approved two tax increment financing (TIF) districts at Brunswick Landing.
One district will serve properties within the confines of the airport and a second district in the non-aviation area
of the campus. The thirty year TIF development program calls for a revenue share of fifty percent of incremental
tax revenue to invest up to $12 million for various infrastructure upgrades. As of June 30, 2015, the Town had
not transferred TIF dollars to MRRA. The Town and MRRA recently began discussions to amend the TIF
Agreement to address aeronautical uses and allow the implementation of the TIF program.
Grants
In August of 2014, the Federal Aviation Administration (FAA) announced grant awards for 2015 under the Military
Airport Program. Approved projects included a total of $182,088 for the replacement of the Terminal Building
roof, $433,224 for the upgrade to the Fire Protection building, $748,818 to improve airport drainage, $150,000
for runway and ramp pavement crack sealing, $1,662,930 to rehabilitate hangars 4 and 5, and $1,521,270 to
construct a snow removal equipment building for a total of $4,698,300 with an additional State of Maine match
of $261,018. Over the last three years, the MRRA has secured $13.421 million in FAA grants.
We were notified by the Maine International Trade Center (MITC) that we were successful in our $50,000 Invest
in Maine grant application. This grant is designed to increase foreign direct investment in Maine to finance
growing companies and to encourage new business ventures that will create jobs and support economic growth.
Funds will be used to make direct contact with international business leaders.
MRRA received an $841,300 grant from the Office of Economic Adjustment within the Department of Defense to
support ten of the twelve staff employed by MRRA for FY 2015.
On June 8, the Maine Technology Institute approved MRRA’s March 23rd grant application for a $299,040 to fund
the purchase of equipment to outfit a shared bio-tech laboratory and machine manufacturing center and related
physical improvements at TechPlace.
TechPlace
On April 2, 2014, MRRA signed a lease with Brunswick Landing Realty Development Corporation for 94,609
square feet of space in building 250 (the former Aviation Intermediate Maintenance Department) for the
creation of a new technology accelerator and business incubator known as TechPlace with funding from Make It
in America Challenge Grant from the U.S. Department of Commerce. Matching grant dollars were provided by
the Brunswick Development Corporation, the Town of Brunswick (with a CDBG grant from the State of Maine),
and MRRA.
MRRA completed the repairs and renovations to building 250 and opened the doors to TechPlace, the State’s
first technology accelerator, on January 7, 2015. TechPlace will support innovative manufacturing businesses in
the sectors of advanced materials, composites technology, aerospace/aviation, biotech/biomed, IT, and
renewable energy.
On May 28, MRRA held a Grand Opening for TechPlace, which was attended by the Governor and letters
presented from the entire Maine Congressional Delegation. After just five months, TechPlace has fourteen
tenants: Aerotech Surgical, Atanye, Bourgeois Guitars, Brunswick Landing Realty Development Corporation,
Drummond Woodsum, Greisen Aerospace, Griffin LLC, Harbor Digital, Insphero, Maine Manufacturing Extension
Partnership, Maritime Surveillance, STARC Systems, Tempus Jets and the University of Maine.
4
22
Management’s Discussion and Analysis
Analysis, Continued
June 30, 2015
Private Investment at Brunswick Landing
Rousseau Enterprises is making rapid progress on transforming the former Navy hotel (building 750) into a
retirement apartment complex and assisted living facility called Coastal Landing.. Rousseau Enterprises
purchased the property from AMH last year
year. The 115,000 square foot building is undergoing extensive
renovations. A new portico is being built on
n the front and the rooms are being converted to independent and
assisted living apartments. Renovations also include a family room, game room, chapel, cafeteria, elevator, and
multi-media. The opening is slated for early fall 2015.
In March, Sunray Animal
al Clinic opened its doors in a newly constructed building on Admiral Fitch Avenue. They
employ fifteen people.
Village Green Ventures’ groundbreaking for its renewable energy plant took place on May 27 on the south end
of the Brunswick Executive Airport ramp where the new anaerobic di
digester
gester will be built. Plant construction is
underway and should be complete before winter. This cornerstone project of the Brunswick Renewable Energy
Center will produce nearly one megawatt of power. MRRA currently handles about a 2 MW power load. With
the next year, nearly half our power requirements could be generated on site.
Loans from MRRA
MRRA has approved a total of six working capital loans -- three
ree of which were approved this fiscal year:
year Family
Focus, Frosty’s Donuts and Firehouse Realty.
Positive Economic Impacts
Since the closure of the base in 2011, the net positive economic impacts from the redevelopment include, but are
not limited to, the following:

There are now over 75 entities doing business at Brunswick Landing and the Topsham Commerce Park,
and have created 729 jobs (exceeding the short
short-term economic goal).
5
23
June 30, 2015

MRRA has awarded over $45.0 million dollars in contracts for property improvements, building
construction/reconstruction and airport and utility infrastructure.

Brunswick Landing and Topsham Commerce Park have realized over $150.0 million in new private sector
investment.

Over $65 million in new tax base has been added to the tax rolls in the towns of Brunswick and Topsham,
with new property tax revenues exceeding $1.8 million from the former base properties.

MRRA has sold a total of 32 buildings and 333 acres to the private sector.
Leases
In FY 2015, MRRA signed the following leases:







Blue Dog Day Care (building 636)
Hoyle Tanner & Associations (Hangar 6)
Jamaport (building 639)
Maine Aviation Corporation (Hangar 5)
New England Tent and Awning (Building 252)
Town of Brunswick (Building 554)
L.L. Bean (building 56 and 2.2 acres of land)
Brunswick Landing Realty Development Corporation signed the following User Agreements for space in
TechPlace:














Aerotech Surgical
Atayne
Bourgeois Guitars
Drummond Woodsum
Greisen Aerospace
Griffin LLC
Harbor Digital
InSphero
Maritime Surveillance
Maine Manufacturing Extension Partnership
Sonic Blue Aerospace
Starc Systems
Tempus Jets
University of Maine
Awards
On June 24, Executive Director, Steven Levesque was presented with the prestigious Community Base
Redevelopment Award by the Association of Defense Communities at its annual conference in Washington, D.C.
for his outstanding leadership and success on the redevelopment of NAS Brunswick.
6
24
June 30, 2015
Overview of the Financial Statements
Under Governmental Accounting Standards Board Statement No. 34, the Authority presents its basic financial
statements as a government wide financial statement and all activities are accounted for within a single
proprietary (enterprise) fund.
The financial statements report information about the Authority using full accrual accounting methods as
utilized by similar business activities in the private sector. The financial statements include the statement of net
position; statement of revenues, expenses and changes in net position; statement of cash flows; and notes to
the financial statements.
The statement of net position presents the financial position of the Authority on a full accrual basis of
accounting with the capital assets recorded at an estimated historical cost as actual cost records were not
available from the Navy. The balance sheet presents information on all of the Authority’s assets and liabilities,
with the difference reported as net position. Over time, increases and decreases in net position are one
indicator of whether the financial position of the Authority is improving or deteriorating. A positive change in
net position indicates the Authority’s financial position is improving, while a negative change may indicate that
the financial position is deteriorating.
While the statement of net position provides information about the nature and amount of resources and
obligations at year-end, the statement of revenues, expenses and changes in net position presents the results of
the business activities over the course of the fiscal year and information as to how the net position changed
during the year. All changes in net position are reported as soon as the underlying event giving rise to the
change occurs, regardless of the timing of the related cash flows.
The statement of cash flows presents changes in cash and cash equivalents, resulting from operational,
investing, and capital and related financing activities. This statement presents cash receipts and cash
disbursement information, without consideration of the earnings event, when an obligation arises, or
depreciation of capital assets.
The notes to the financial statements provide required disclosures and other information that are essential to a
full understanding of material data provided in the statements. The notes present information about the
Authority’s accounting policies, significant account balances and activities, material risks, obligations,
commitments, contingencies and subsequent events, if any.
The financial statements were prepared by the Deputy Director from the detailed books and records of the
Authority, which were audited by independent auditors.
Summary of Organization and Business
The Midcoast Regional Redevelopment Authority, a component unit of the State of Maine, is a municipal
corporation created by Maine law, 5 MRSA §13083-G, and charged with the responsibility to acquire and
manage property at the former Naval Air Station Brunswick (NAS Brunswick) and the Topsham Annex and to
facilitate the rapid redevelopment of properties in order to recover from economic and employment loss as
result of base closure. The first meeting of the MRRA Board of Trustees was held on September 27, 2007. The
Board elected officers and adopted a set of bylaws for the organization at that time.
The bylaws direct the Board of Trustees to adopt an annual budget, provide for an annual audit, appoint various
committees and hire an Executive Director. The Executive Director is the chief executive officer and is
responsible for carrying out the policies of the Trustees and overseeing the daily operation of MRRA and
appointing staff. In addition to the Executive Director, MRRA employs eleven individuals.
7
25
June 30, 2015
The Board is authorized by statute to create other organizations and entities necessary to implement the
redevelopment plans for NAS Brunswick and the Topsham Annex. The Board has authorized the creation of
Brunswick Landing Realty Development Corporation, the Brunswick Landing MHC USA LLC, the Brunswick
Economic Development Corporation and the Midcoast Charitable Foundation of Maine. The activity and
financial transactions of these entities are included and made a part of this report.
Financial Analysis
The statement of net position presents information on all of MRRA’s assets and liabilities, with the difference
between the two reported as net position. The table below is a condensed summary of assets, liabilities, and net
position for the year ending June 30, 2015.
Condensed Statement of Net Position
June 30, 2015 and 2014
2015
Current and other assets
Capital assets
Total assets
$
Long-term liabilities
Current liabilities
Total liabilities
Net investment in capital assets
Unrestricted
Total net position
$
2014
Change
2,667,077
(2,868,258)
(201,181)
% Change
10,190,829
129,272,639
139,463,468
7,523,752
132,140,897
139,664,649
14,479,983
4,897,174
19,377,157
14,354,364
4,430,939
18,785,303
114,786,066
5,300,245
117,770,487
3,108,859
(2,984,421)
2,191,386
-2.5%
70.5%
120,086,311
120,879,346
(793,035)
-0.7%
125,619
466,235
591,854
35.4%
-2.2%
-0.1%
0.9%
10.5%
3.2%
Original cost information for the former Navy facilities was not available. MRRA had to develop a methodology
for determining the value for capital assets. In 2006, the Navy provided a schedule of the estimated cost of
replacement based on standard engineering estimates prepared by the Naval Facilities Engineering Command
(NAVFAC) office. Most of the buildings were valued at the replacement cost in 2006 dollars. For other buildings,
MRRA used its best professional judgment based on the estimated cost to replace on a per square foot basis in
2006 dollars.
As properties were offered to the marketplace and sold, MRRA learned more and more about their value in the
civilian marketplace. MRRA also had the benefit of eight independent market appraisals on buildings
subsequently sold. From these appraisals, MRRA learned more about the current market value of industrial,
commercial and professional office facilities in the region. We learned that MRRA’s current capital asset values
of land and buildings was overstated, because we had relied so much on the Navy’s estimated cost to replace
schedule and the single purpose nature of many Navy buildings.
8
26
June 30, 2015
In 2014, MRRA used the recently obtained market appraisal information and the information in the comparable
sales approach section of the appraisals to establish a more realistic estimate of square foot value for buildings
and adjusted the balance sheet accordingly. MRRA used the average of the square foot sales price for all of the
properties within the property sales comparable approach section of the appraisals and the value set by the
appraiser for each subject building of the appraisal to help set a value for all buildings by building types. The
information garnered from the appraisals did not cover all of the styles and types of buildings at Brunswick
Landing. Therefore, MRRA used information from CBRE Boulos Company and the Dunham Group. The
properties used from the CBRE Boulos Company and Dunham Group websites were asking prices, not actual
sales data.
This revaluation reduced building values at Brunswick Landing and the Topsham Commerce Park by $7,219,693.
The accumulated depreciation schedule was also adjusted as of July 1, 2013; a reduction of $649,008.
This fiscal year the Navy transferred 34.14 acres of land and two buildings: building 81 (former CHRIMP facility)
and building 223 (former NMCI Marine Computer Building). All of these assets were transferred net of
additional debt. These buildings were transferred under a September 30, 2011 Purchase and Sale Agreement
for an Economic Development Conveyance (EDC) to ultimately transfer 1,098 acres and nearly 200 buildings and
structures to MRRA as properties are cleared environmentally and found to be suitable for transfer. The
Purchase and Sale Agreement included a $25,000 good faith deposit, a $3.0 million ten year note that was
scheduled to amortize on October 1, 2015 with a balloon payment in 2023 of $1,650,000; provided that all
property is transferred by October 1, 2015. The $3.0 million was retired by MRRA on June 5, 2014.
The Navy also transferred 10.5 acres and the former Air Traffic Control Tower (Building 231) through the Airport
PBC. All of these assets were transferred net of additional debt.
This past fiscal year MRRA sold a total of 35.18 acres and four buildings totaling 112,195 square feet.
The Combined Statements of Revenues, Expenses and Changes in Net position presents information on MRRA’s
operating activity. The table below is a condensed summary of the revenue, expenses and changes in net
position for the period ending June 30, 2015.
Condensed Statement of Revenues,
Expenses and Changes in Net Position
For the year ended June 30, 2015 and 2014
2015
2014
Operating revenues
Operating expenses
Operating loss
% Change
4,473,732
10,741,014
(6,267,282)
5,297,835
10,846,041
(5,548,206)
(824,103)
(105,027)
(719,076)
-15.6%
-1.0%
13.0%
Nonoperating revenues
Nonoperating expenses
Nonoperating income
6,815,806
2,993,852
3,821,954
4,304,108
2,111,849
2,192,259
2,511,698
882,003
1,629,695
58.4%
41.8%
74.3%
Loss before contributions,
transfers, and impairments
(2,445,328)
(3,355,947)
910,619
27.1%
Transfers to subsidiaries
Contributed capital
Impairment of capital assets
1,636,703
-
(10,000)
7,734,763
(7,219,693)
10,000
(6,098,060)
7,219,693
100.0%
-78.8%
100.0%
(808,625)
(2,850,877)
2,042,252
-71.6%
Change in net position
$
Change
$
9
27
June 30, 2015
This statement records a non-cash expense of $4,294,231 for depreciation as an Operating Expense (see page
13) for the assets that MRRA held this year. If the unfunded depreciation expense were removed, the income
before contributed capital would be $1,848,903.
At the end of the year, total net position exceeded $120 million.
Condensed Schedule of Operating Expenses – Budget to Actual
Budget
Personnel services
Employee benefits
Supplies
Professional services
Property services
Other purchased services
Bad debt expense
Capital outlay
Debt service
Transfers to subsidiaries
Transfers to sinking fund
Total operating expenses
Actual
Variance
% Variance
$
1,036,300
349,200
537,000
273,100
3,268,000
97,600
6,800
161,500
334,600
120,400
1,067,156
346,447
290,641
411,653
3,056,806
231,797
172,020
15,221
1,974,588
186,194
-
(30,856)
2,753
246,359
(138,553)
211,194
(134,197)
(172,020)
(8,421)
(1,813,088)
148,406
120,400
-2.9%
0.8%
84.8%
-33.7%
6.9%
-57.9%
-100.0%
-55.3%
-91.8%
79.7%
100.0%
$
6,184,500
7,752,523
(1,568,023)
-20.2%
Other Financial Information
There are no outstanding judgments or litigation against the Midcoast Regional Redevelopment Authority.
This financial report is designed to provide a general overview of MRRA’s finance and to demonstrate MRRA’s
accountability for the grants it receives.
If you have questions about this report or need additional financial information, contact Jeffrey K. Jordan,
Deputy Director, Midcoast Regional Redevelopment Authority, 15 Terminal Road, Brunswick, Maine or call (207)
798-6512.
10
28
Statement 1
Combined Statement of Net Position
June 30, 2015
2015
ASSETS
Current assets:
Cash and cash equivalents
$
Receivables:
Grant receivables
Tenant and other receivables (net of allowance of $160,591)
Notes receivable (net of allowance of $400,367)
Prepaid expenses
Total current assets
Noncurrent assets:
Other assets:
Security deposits
Restricted cash
Total other assets
4,600,844
3,552,196
952,360
341,614
274,577
9,721,591
100,664
368,574
469,238
Capital assets:
Capital assets not being depreciated
Capital assets, net of accumulated depreciation
Net capital assets
Total noncurrent assets
Total assets
39,186,469
90,086,170
129,272,639
129,741,877
139,463,468
LIABILITIES
Current liabilities:
Line of credit
Accounts payable
Accrued expenses
Contract obligations payable
Unearned revenue
Security deposits
Current portion of notes payable
Total current liabilities
778,329
3,479,228
173,657
267,109
106,849
85,412
6,590
4,897,174
Noncurrent liabilities:
Notes payable
Total noncurrent liabilities
14,479,983
14,479,983
Total liabilities
19,377,157
NET POSITION
Unrestricted
Unrestricted - component units
Total net position
114,786,066
5,247,299
52,946
$
120,086,311
See accompanying notes to financial statements
11
29
Statement 2
Combined Statement of Revenues, Expenses and Changes in Net Position
2015
Operating revenues:
Rental income and fees
Common area maintenance fees
Utilities assessment
Transient aircraft and fuel flowage fees
Federal grants
Total operating revenues
Operating expenses:
Salaries, taxes, and benefits
Supplies
Property services
Bad debt expense
Taxes and fees
Capital outlay
Depreciation
Operating loss
2,159,334
46,118
1,321,624
74,038
872,618
4,473,732
1,413,603
380,105
436,917
3,172,785
250,486
172,020
1,071
619,796
4,294,231
10,741,014
(6,267,282)
Nonoperating revenues (expenses):
Federal grants
State grants
Miscellaneous revenue
Miscellaneous expense
Navy covenant
Gain on sale of property
Bad debt expense - notes receivable
Interest income - notes receivable
Investment interest income
Interest expense
Total nonoperating revenues (expenses)
Loss before contributions
Capital contributions
4,389,063
437,304
335,150
(10,355)
(1,966,462)
1,593,690
(400,367)
34,348
26,251
(616,668)
3,821,954
(2,445,328)
1,636,703
(808,625)
Net position, beginning of year, as restated
Net position, end of year
$
120,894,936
$
120,086,311
12
30
Statement 3
Combined Statement of Cash Flows
2015
Cash flows from operating activities:
Receipts from customers and users
Payments to suppliers
Payments to employees
Receipt of federal and state grants
Net cash used in operating activities
$
Cash flows from noncapital financing activities:
Issuance of notes receivable
Collections on notes receivable
Interest collected on notes receivable
Proceeds from line of credit
Net cash provided by noncapital financing activities
3,359,280
(4,132,413)
(1,399,396)
1,130,933
(1,041,596)
(253,252)
198,290
34,348
300,000
279,386
Cash flows from capital and related financing activities:
Purchase of capital assets
Proceeds from sale of capital assets
Proceeds from long-term debt
Principal payments on long-term debt
Interest payments on long-term debt
Navy covenant payment
Net cash provided by capital and related financing activities
(7,015,711)
7,841,374
3,448,334
128,252
(12,089)
(616,618)
(1,497,194)
2,276,348
Cash flows from investing activities:
Interest income
Net cash provided by investing activities
26,251
26,251
Net increase in cash
1,540,389
Cash at beginning of year
3,429,029
Cash at end of year
Reconciliation of operating loss to net cash provided by
operating activities:
Operating loss
Adjustments to reconcile operating loss to net cash
used in operating activities:
Depreciation
Bad debt expense
Miscellaneous revenues
Change in operating assets and liabilities:
(Increase) decrease in noncapital grant receivables
(Increase) decrease in tenant and other receivables
(Increase) decrease in prepaid expenses
(Decrease) increase in accounts payable - trade
(Decrease) increase in accrued expenses
(Decrease) increase in contract obligations payable
(Decrease) increase in unearned revenue
(Decrease) increase in security deposits
Net cash used in operating activities
Noncash capital and related financing activities:
Capital contributions - capital assets
$
4,969,418
$
(6,267,282)
4,294,231
172,020
335,150
(10,355)
258,315
(405,305)
(270,965)
1,069,005
6,857
(51,588)
9,100
(180,779)
(1,041,596)
1,636,703
13
31
Notes to Financial Statements
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Reporting Entity - The Midcoast Regional Redevelopment Authority (MRRA) was created by an Act of the State
of Maine in 2005, by the State of Maine Legislature and is charged with the responsibility to acquire and
manage Brunswick Naval Air Station (NASB) properties in both Brunswick and Topsham, Maine and implement
the approved Reuse Master Plans for each. MRRA is governed by an eleven member Board of Trustees. The
accompanying financial statements present MRRA and its component units, entities for which the government
is considered to be financially accountable. Blended component units are, in substance, part of the primary
government’s operations, even though they are legally separate entities. The following are considered blended
component units and along with MRRA are collectively referred to as the Authority:
Brunswick Landing MHC USA, LLC was formed on July 11, 2011 to build a manufacturing building.
Brunswick Landing Economic Development Company, LLC was formed June 7, 2011 to assist in the creation of
business and to aid economic growth in the Midcoast Maine region.
Brunswick Landing Realty Development Corporation was formed on June 16, 2011 to assist in the acquisition
and development of land and buildings in the Midcoast Maine region.
Midcoast Charitable Foundation of Maine was organized on July 6, 2011 to receive and hold charitable funds
and distribute the income for charitable purposes to organizations serving individuals and families in the
Midcoast Maine region.
The Authority is considered to be a component unit of the State of Maine.
Basis of Accounting - The accounting and financial reporting treatment is determined by the applicable
measurement focus and basis of accounting. Measurement focus indicates the type of resources being
measured such as current financial resources or economic resources. The basis of accounting indicates the
timing of transactions or events for recognition in the financial statements.
The financial statements of the Authority are reported using the economic resources measurement focus and
accrual basis of accounting. Revenues are recorded when earned and expenses are recorded when a liability is
incurred, regardless of the timing of related cash flows.
The Authority distinguishes operating revenues and expenses from nonoperating items. Operating revenues
and expenses generally result from charges to tenants for the lease or license of property and providing goods
and services in connection with the Authority’s principal ongoing operations of the implementation of the
Reuse Master Plans for Brunswick and Topsham properties and management of properties at Brunswick
landing, the former NASB. The Authority also receives an operating grant from the United States Department of
Defense. All revenues and expenses not meeting this definition are reported as nonoperating revenues and
expenses.
14
32
Notes to Financial Statements, Continued
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Cash and Cash Equivalents - For purposes of cash flow, the Authority considers all highly liquid investments
(including restricted assets) with a maturity of three months or less to be cash equivalents.
Restricted Cash - The predecessor entity to MRRA entered into an agreement with a local association to
contribute $560 per developable acre transferred from the U.S. Navy to a homeless assistance trust fund.
MRRA is to act as fiduciary of this trust. In accordance with this agreement, MRRA began contributing to this
trust in 2011 upon the transfer of property from the U.S. Navy. At June 30, 2015, there was $368,574 of
restricted cash related to the trust fund.
Accounts Receivable - The Authority uses the allowance method to account for uncollectible accounts
receivable and notes receivable. The allowance for doubtful accounts is based on prior years' experience and
management's analysis of possible bad debts. At June 30, 2015, the allowance for uncollectible accounts
receivable was $160,591 and $400,367 for notes receivable.
Capital Assets - Capital assets purchased or constructed by the Authority are recorded at cost.
Capital assets previously acquired through contributions from the U.S. Navy were initially capitalized using the
U.S. Navy’s schedule of estimated cost of replacement based on standard engineering estimates prepared by
the Naval Facilities Engineering Command Office. The estimated replacement costs were then deflated using
the Implicit Price Deflator for Gross National Products for structures prepared by the U.S. Bureau of Economic
Analysis back to the year of construction. After several sales of former U.S. Navy capital assets and market
appraisals were performed, it was determined that this method was not representative of the true cost of these
assets in a civilian marketplace. The Authority performed an analysis in 2014 and revalued these assets based
on estimated market value. Any future capital assets transferred to the Authority by the U.S. Navy will be
valued based on the estimated market value method.
The Authority maintains a capitalization threshold of $5,000. Routine maintenance and repairs are charged to
expense. Expenses, which materially increase values, change capacities, or extend useful lives are capitalized.
The provision for depreciation has been computed by the use of the straight-line method at rates intended to
amortize the cost of the related assets over the following estimated useful lives:
Assets
Land improvements
Buildings and building improvements
Machinery and equipment
Furniture and fixtures
Vehicles
Infrastructure
Years
7-11
3-45
2-7
4-5
4-5
5-50
Accrued Compensated Absences - Under terms of personnel policies, the Authority grants vacation and sick
time benefits. These benefits are accrued as a liability as the benefits are earned if the employee’s rights to
receive compensation are attributable to services already rendered.
Unearned Revenue - Unearned revenue consists of lease revenue for subsequent periods, which was billed and
collected as of the balance sheet date.
15
33
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES, CONTINUED
Contract Obligations Payable - Contract obligations payable reflect the difference between the value of the
required contributions to the homeless assistance trust, which are a function of the value of capital
contributions received from the United States Navy, and the value of payments made to eligible recipients.
Contract obligations payable are recognized liabilities until the Authority fulfills its obligations to eligible
recipients.
Use of Estimates - The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates and assumptions that affect
certain reported amounts and disclosures. Accordingly, actual results could differ from these estimates.
Income Taxes - MRRA qualifies as a tax exempt organization under the provisions of the Internal Revenue Code
and, accordingly, its income is not subject to any state or federal income taxes. Brunswick Landing MHC USA,
LLC, Brunswick Landing Economic Development Corporation, LLC, Brunswick Landing Realty Development
Corporation, and Midcoast Charitable Foundation of Maine file tax returns under the Internal Revenue Code.
DEPOSITS
Custodial credit risk - This is the risk that in the event of a bank failure, the Authority’s deposits may not be
returned to it. The Authority currently does not have a deposit policy for custodial credit risk. As of June 30,
2015, $1,294,612 of the Authority’s bank balance of $5,469,795 was insured by the FDIC and $4,175,183 was
collateralized by securities held in the name of the Authority by the financial institution’s trust department.
Interest rate risk - The Authority currently does not have a deposit policy for interest rate risk.
NOTES RECEIVABLE
As of June 30, 2015, the Authority had the following notes receivable:
SaviLinx, LLC
Savi Systems, LLC
Kestrel Aircraft Company
Family Focus
Firehouse Realty, LLC
Frosty’s Donuts, LLC
Allowance for doubtful accounts
Issue
Date
Amount
Issued
2013
2013
2014
2014
2015
2015
2015
$ 50,000
250,000
312,277
50,000
40,000
35,000
50,000
Interest
Rate
Maturity
Date
5.00%
4.25%
6.00%
6.00%
5.00%
6.75%
5.00%
2019
2019
2016
2016
2020
2035
2019
Total notes receivable (net of allowance for doubtful accounts)
Amount
Outstanding
33,675
227,171
312,277
50,000
35,226
35,000
48,632
(400,367)
$ 341,614
The notes were provided to aid in job development and facilitate business growth in the region. The Savi
Systems, LLC note is part of a conduit debt arrangement where the Authority has acted as an intermediary and
obtained third party financing from the Maine Rural Development Authority with the same terms as the note
issued to Savi Systems, LLC.
16
34
CAPITAL ASSETS
The following is a summary of the changes in capital assets from June 30, 2015:
Balance
6/30/14
Additions
Dispositions
Balance
6/30/15
34,055,842
5,130,627
39,186,469
Capital assets not being depreciated:
Land
$ 34,055,323
Construction in progress
3,275,782
Total capital assets not being depreciated
37,331,105
986,136
5,539,144
6,525,280
985,617
3,684,299
4,669,916
Capital assets being depreciated:
Land improvements
Vehicles
Infrastructure
Total capital assets being depreciated
9,083,565
71,738,341
1,415,770
47,640
90,411
22,340,555
104,716,282
91,595
4,182,759
558,322
4,832,676
9,175,160
5,733,973 70,187,127
1,415,770
11,749
35,891
90,411
8,788 22,890,089
5,754,510 103,794,448
Less accumulated depreciation for:
Land improvements
Vehicles
Infrastructure
Total accumulated depreciation
1,946,363
5,067,956
315,534
43,551
51,195
2,481,892
9,906,491
727,106
2,572,420
111,458
2,285
11,822
869,140
4,294,231
477,399
11,749
3,296
492,444
2,673,469
7,162,977
426,992
34,087
63,017
3,347,736
13,708,278
94,809,791
538,445
5,262,066
90,086,170
$ 132,140,896
7,063,725
Total capital assets being depreciated, net
Capital assets, net
17
35
9,931,982 129,272,639
LONG-TERM DEBT
The following is a summary of long-term liability transactions of the Authority for the year ended June 30, 2015:
Beginning
balance
Additions
Ending
balance
Deletions
Due within
one year
Notes payable
Accrued compensated absences
$ 14,370,410
61,277
128,252
15,860
12,089
-
14,486,573
77,137
6,590
-
Total long-term liabilities
$ 14,431,687
144,112
12,089
14,563,710
6,590
The following is a summary of the long-term debt payable at June 30, 2015:
Amount
issued
Issue
Midcoast Regional Redevelopment Authority:
Note payable
Brunswick Landing MHC USA, LLC:
Note payable
Note payable
$
Maturity
date
Interest
rate
Balance
6/30/15
250,000
2018
4.25%
221,573
10,319,583
3,945,417
2023
2047
5.00%
2.13-4.04%
10,319,583
3,945,417
14,486,573
6,590
Less current portion
Total long-term portion
$ 14,479,983
Requirements for the repayment of the outstanding debt are as follows:
2016
2017
2018
2019
2020
2021-2025
2026-2030
2031-2035
2036-2040
2041-2045
2046-2047
Totals
$
Total debt
service
Principal
Interest
6,590
9,886
204,662
2,263,223
536,619
8,229,060
3,236,533
609,293
609,133
608,013
555,219
477,519
1,426,021
653,941
653,941
653,941
653,941
207,081
615,883
619,019
812,675
2,818,442
1,014,138
9,655,081
653,941
653,941
653,941
653,941
3,443,614
$ 14,486,573
7,108,043
21,594,616
18
36
LINES OF CREDIT
The Authority maintains a line of credit with Mechanics Savings Bank for $500,000. In June 2013, the Authority
entered the line of credit agreement for a two year term and then was then extended to October 3, 2015. The
variable interest rate is adjusted daily based on Wall Street Journal prime rate (3.25% at June 30, 2015) plus 1%.
As of June 30, 2015, there was no outstanding balance under the line of credit.
The Authority maintains a line of credit with Bath Savings Institute for $500,000. During 2015, the Authority
renewed the line of credit for a one-year term, which is set to expire on June 2, 2016. The variable interest rate
is adjusted daily based on Wall Street Journal prime rate (3.25% at June 30, 2015). As of June 30, 2015, there
was no outstanding balance under the line of credit.
The Authority maintains a non-interest bearing line of credit with the Maine Department of Transportation for
$1,300,000 to fund operating deficits of the Brunswick Executive Airport for the first five years of operation
(2011-2015). Funding for any one individual year cannot exceed $300,000. Repayment of funds disbursed under
the line of credit begins in 2016 at a rate of 15% of each annual surplus for the Brunswick Executive Airport for
2016-2018 and 20% of each annual surplus for the Brunswick Executive Airport beginning in 2019 and
continuing until all funds have been repaid. As of June 30, 2015, there was $778,329 outstanding under the line
of credit.
NET POSITION
Net position represents assets less liabilities. Net investment in capital assets consists of capital assets, net of
accumulated depreciation, reduced by the outstanding balances of notes and capital leases payable and adding
back any unspent proceeds. Net position is reported as restricted when there are limitations imposed on the
use of funds either through the enabling legislations adopted by the Authority or through external restrictions
imposed by creditors, grantors or laws or regulations of other governments. The Authority’s net investment in
capital assets was calculated as follows at June 30, 2015:
Capital assets
Accumulated depreciation
Notes payable
$ 142,980,917
(13,708,278)
(14,486,573)
$ 114,786,066
CONTINGENT RECEIVABLE
In May of 2012, the Authority entered into an agreement with a local developer for the sale of Authority owned
land. The agreement calls for the ownership of the land to transfer to the developer and the Authority will
receive 5% of the gross sales price for any sale of the land by the developer to a third party. The agreement is
in effect for ten years, maturing on May 3, 2022, and proceeds from the agreement are limited to a maximum
of $6,645,000. During the year ended 2015, the Authority received $409,285 under this arrangement.
19
37
OPERATING LEASES
The Authority has entered into several lease agreements to rent buildings, parcels of land, a golf course, and
utility poles. Several leases are month to month arrangements while others do not terminate until February
2033. Rental payments from tenants range from $318 - $97,474 per month based on the amount of space
rented. For the year ended June 30, 2015, rental income amounted to $2,159,334.
Future minimum rental income under the rental leases are as follows:
2016
2017
2018
2019
2020
Thereafter
Total
$ 1,893,926
1,909,284
1,924,819
1,891,170
1,807,462
14,555,313
$ 23,981,974
PENSION PLAN
Full-time and part-time employees working twenty hours or more per week are eligible to participate in the
Authority's Section 401(a) deferred compensation program. The plan covers all of the Authority's employees
and requires that participating employees contribute 4% of earnable compensation to the plan. The Authority
contributes 8% of earnable compensation of each employee to the plan. Election to participate in the plan is
irrevocable and may only cease should the employee terminate employment with the Authority. The Authority
contributed $81,504 to the plan for the year ended June 30, 2015. This program is administered by the ICMA
Retirement Corporation.
Employees may also voluntarily participate in the Authority's Section 457(b) deferred compensation plan. The
plan allows qualified employees to authorize the Authority to withhold portions of their wages on a pre-tax
and/or post-tax basis. The earnings on these investments are not subject to current state or federal taxes.
However, any pre-tax investments and all earnings are subject to state and federal taxes upon withdrawal. This
program is also administered by the ICMA Retirement Corporation.
CAPITAL CONTRIBUTIONS FROM THE UNITED STATES NAVY
During 2015, the United States Navy transferred ownership of capital assets, which included land and buildings.
The capital assets transferred had an estimated value of $1,636,703 at the date of the transfer.
20
38
CONSTRUCTION COMMITMENTS
During 2015, in order to facilitate economic development in the area, MRRA entered into several construction
agreements to improve and renovate infrastructure. The significant contracts remaining at June 30, 2015 are
listed below:
Contract
Total
Percentage
Complete
Improvements to hangars 4 & 5
$ 1,717,620
Clear trees in runway approach
84,550
Water/electric meter upgrades
842,971
Airfield drainage improvements
692,705
Airfield electrical vault
1,845,537
Fire protection building renovations
431,500
64.21%
39.00%
96.30%
60.04%
98.00%
47.33%
Billed
to Date
992,581
29,541
783,216
374,297
1,791,170
183,797
Retainage
Balance
Remaining
110,287
3,282
25,990
41,589
18,093
20,422
614,752
51,727
33,765
276,819
36,274
227,281
COMMITMENTS AND CONTINGENCIES
As part of the terms of the purchase and sale agreement between the Authority and the United States of
America (the Government) for the transfer of the former NASB, the Authority was required to enter into a
$3,000,000 loan agreement (paid off in 2014). The Authority will also be required to pay the Government 25%
of real estate proceeds received for the sale, transfer, conveyance, assignment or lease of any portion of the
property transferred by the Government in excess of $7,000,000 and up to $37,400,000. If the real estate
proceeds are in excess of $37,400,000 and less than $42,400,000, the Authority is not required to pay the
government any portion of the proceeds. If the real estate proceeds exceed $42,400,000, the Authority is
required to pay the government 50% of all gross real estate proceeds. These requirements will be in effect for
23 years, starting after the initial closing. The amount due under these terms for 2015 was $1,966,462.
PRIOR PERIOD ADJUSTMENT
In prior years, the activity of certain subsidiary organizations was immaterial to the financial statements and
was omitted from the reporting entity. During 2015, these organizations increased their activity and were
deemed material to the financial statements. As such, management elected to include these additional entities
in the financial statements. Prior year net position was restated to include the net position of Brunswick
Landing Economic Development Corporation, LLC (BLEDC) and Brunswick Landing Realty Development
Corporation (BLRDC). Adjustments to net position as of July 1, 2014 were as follows:
Net position, July 1, 2014, as previously reported
Adjustment to bring on subsidiary net position
Net position, July 1, 2014, as restated
21
39
BLEDC
$ 105
BLRDC
15,485
Combined
120,879,346
15,590
$ 105
15,485
120,894,936
SUBSEQUENT EVENTS
In June 2015, the Executive Committee accepted several grants from the Federal Aviation Administration (FAA)
in the amount of $1,199,364 to rehabilitate the Brunswick Executive Airport. There is a required match of
$133,262, with the State of Maine and the Authority each contributing $66,631. Work on the related projects
had not yet commenced as of June 30, 2015. The majority of the work is expected to be completed in the next
fiscal year.
In July of 2015, the Authority accepted a grant from the Department of Defense Office of Economic Adjustment
in the amount of $640,800. Proceeds of this grant are expected to fund certain operating costs while the
Authority redevelops the area formerly known as the Brunswick Naval Air Station.
In August 2015, the Executive Committee accepted another grant from the Federal Aviation Administration
(FAA) in the amount of $528,426 to rehabilitate the Brunswick Executive Airport. There is a required match of
$59,074, with the State of Maine and the Authority each contributing $29,357.
In September 2015, the Executive Committee accepted another grant from the Federal Aviation Administration
(FAA) in the amount of $1,700,000 to rehabilitate the Brunswick Executive Airport. There is a required match of
$188,888, with the State of Maine and the Authority each contributing $94,444.
22
40
Exhibit 1
Combining Statements of Net Position
June 30, 2015
Brunswick
Brunswick
Midcoast
Landing
Landing
Regional
Brunswick
Economic
Realty
Redevelopment
Landing
Development
Development
Authority
MHC USA LLC
Corporation
Corporation
ASSETS
Current assets:
Cash and cash equivalents
$
Receivables:
Grant receivables
Tenant and other receivables (net of
allowance of $160,591)
Notes receivable (net of allowance of $400,367)
Prepaid expenses
Total current assets
Noncurrent assets:
Other assets:
Security deposits
Restricted cash
Total other assets
3,552,196
1,044,380
341,614
270,685
9,534,905
100,664
368,574
469,238
Capital assets:
Capital assets not being depreciated
Capital assets, net of accumulated depreciation
Net capital assets
Total noncurrent assets
Total assets
LIABILITIES
Current liabilities:
Line of credit
Accounts payable - trade
Accounts payable - construction/retainage
Accrued expenses
Accrued payroll and related liabilities
Accrued compensated absences
Accrued interest
Security deposits
Contract obligations payable
Unearned revenue
Current portion of notes payable
Total current liabilities
Noncurrent liabilities:
Notes payable
Total noncurrent liabilities
Total liabilities
NET POSITION
Unrestricted
Unrestricted - component units
Total net position
4,326,030
$
181,934
2,784
184,718
-
2,500
89,797
-
-
2,500
76,445
1,108
167,350
Midcoast
Charitable
Foundation
of Maine
Internal
Eliminations
Totals
583
-
4,600,844
-
-
3,552,196
583
(168,465)
(168,465)
952,360
341,614
274,577
9,721,591
-
-
-
-
100,664
368,574
469,238
-
-
-
39,186,469
90,086,170
129,272,639
129,741,877
39,186,469
75,324,790
114,511,259
114,980,497
14,761,380
14,761,380
14,761,380
-
124,515,402
14,946,098
2,500
167,350
583
(168,465)
139,463,468
778,329
3,281,330
220,962
14,800
31,653
77,137
50
76,099
267,109
9,375
6,590
4,763,434
185
50,017
97,474
147,676
-
145,216
9,313
154,529
-
(168,465)
(168,465)
778,329
3,258,266
220,962
14,800
31,653
77,137
50,067
85,412
267,109
106,849
6,590
4,897,174
214,983
214,983
14,265,000
14,265,000
-
4,978,417
14,412,676
-
154,529
114,289,686
5,247,299
-
496,380
37,042
2,500
12,821
583
-
114,786,066
5,247,299
52,946
119,536,985
533,422
2,500
12,821
583
-
120,086,311
23
41
-
-
(168,465)
14,479,983
14,479,983
19,377,157
Exhibit 2
Combining Statements of Revenues, Expenses and Changes in Net Position
Brunswick
Brunswick
Midcoast
Landing
Landing
Regional
Brunswick
Economic
Realty
Redevelopment
Landing
Development Development
Authority
MHC USA LLC Corporation Corporation
Operating revenues:
Rental income and fees
Utilities assessment
Transient aircraft and fuel flowage fees
Federal grants
$
1,169,690
1,169,690
1,413,603
290,641
411,653
3,056,806
231,797
172,020
611,519
3,767,039
9,955,078
1,090
6,871
527,192
535,153
185
185
89,464
23,939
115,979
11,818
1,071
8,277
250,548
50
50
1,413,603
380,105
436,917
3,172,785
250,486
172,020
1,071
619,796
4,294,231
10,741,014
Operating income (loss)
(6,715,097)
634,537
(185)
(186,487)
(50)
(6,267,282)
Nonoperating revenues (expenses):
Federal grants
State grants
Miscellaneous revenue
Navy covenant
Bad debt expense - notes receivable
Interest income - notes receivable
Investment interest income
Interest expense
Total nonoperating revenues (expenses)
4,389,063
437,304
334,941
(10,355)
(1,966,462)
1,593,690
(400,367)
34,348
26,251
(8,126)
4,430,287
(608,542)
(608,542)
-
4,389,063
437,304
335,150
(10,355)
(1,966,462)
1,593,690
(400,367)
34,348
26,251
(616,668)
3,821,954
(2,284,810)
25,995
(185)
(186,278)
(50)
(2,445,328)
357,247
(543,441)
2,580
183,614
Income (loss) before contributions
and transfers
Transfers in (out)
Capital contributions
1,636,703
Net position, beginning of year, as restated
Net position, end of year
$
-
-
64,061
64,061
209
209
-
-
-
Totals
925,583
46,118
1,321,624
74,038
872,618
3,239,981
Operating expenses:
Salaries, taxes, and benefits
Supplies
Property services
Bad debt expense
Taxes and fees
Capital outlay
Depreciation
-
Midcoast
Charitable
Foundation
of Maine
-
2,159,334
46,118
1,321,624
74,038
872,618
4,473,732
1,636,703
(290,860)
(517,446)
2,395
(2,664)
(50)
(808,625)
119,827,845
1,050,868
105
15,485
633
120,894,936
119,536,985
533,422
2,500
12,821
583
120,086,311
24
42
Exhibit 3
Combining Statements of Cash Flows
Brunswick
Brunswick
Midcoast
Landing
Landing
Regional
Brunswick
Economic
Realty
Redevelopment
Landing
Development Development
Authority
MHC USA LLC Corporation Corporation
Cash flows from operating activities:
Receipts from customers and users
Payments to suppliers
Payments to employees
Net cash provided by (used in) operating activities
$
1,169,690
(10,560)
1,159,130
(185)
(185)
58,177
(105,440)
(47,263)
(615)
(615)
3,359,280
(4,132,413)
(1,399,396)
1,130,933
(1,041,596)
(253,252)
198,290
34,348
300,000
463,611
742,997
(592,191)
(592,191)
2,580
2,580
125,000
125,000
1,000
1,000
(253,252)
198,290
34,348
300,000
279,386
(7,015,711)
7,841,374
3,448,334
128,252
(12,089)
(8,076)
(1,497,194)
2,884,890
(608,542)
(608,542)
-
-
-
(7,015,711)
7,841,374
3,448,334
128,252
(12,089)
(616,618)
(1,497,194)
2,276,348
-
-
-
-
26,251
26,251
1,501,475
(41,603)
2,395
77,737
385
1,540,389
3,193,129
223,537
105
12,060
198
3,429,029
$
4,694,604
181,934
2,500
89,797
583
4,969,418
$
(6,715,097)
634,537
(186,487)
(50)
(6,267,282)
3,767,039
172,020
334,941
(10,355)
527,192
-
258,315
(389,899)
(268,073)
924,169
(7,350)
(1,653)
15,860
(51,588)
9,100
(190,092)
(2,152,663)
(2,784)
185
1,159,130
Cash flows from capital and related financing activities:
Purchase of capital assets
Proceeds from sale of capital assets
Proceeds from long-term debt
Principal payments on long-term debt
Interest payments on long-term debt
Navy covenant payment
Net cash provided by (used in) capital and related financing activities
Cash flows from investing activities:
Interest income
26,251
26,251
Net increase (decrease) in cash
Cash at beginning of year
Reconciliation of operating income (loss) to net cash provided by
operating activities:
Operating income (loss)
Adjustments to reconcile operating income (loss) to net cash
provided by (used in) operating activities:
Depreciation
Bad debt expense
Change in operating assets and liabilities:
(Increase) decrease in noncapital grant receivables
(Increase) decrease in tenant and other receivables
(Increase) decrease in prepaid expenses
(Decrease) increase in accounts payable - trade
(Decrease) increase in accrued expenses
(Decrease) increase in accrued payroll and related liabilities
(Decrease) increase in accrued compensated absences
(Decrease) increase in contract obligations payable
(Decrease) increase in unearned revenue
(Decrease) increase in security deposits
Net cash provided by (used in) operating activities
Totals
2,131,413
(4,015,613)
(1,399,396)
1,130,933
(2,152,663)
Cash flows from noncapital financing activities:
Issuance of notes receivable
Collections on notes receivable
Interest collected on notes receivable
Proceeds from line of credit
Transfers (to) from related companies
Net cash provided by (used in) noncapital financing activities
Cash at end of year
Midcoast
Charitable
Foundation
of Maine
Noncash capital and related financing activities:
Capital contributions - capital assets
1,636,703
25
43
-
(185)
(185)
-
209
(15,406)
(108)
145,216
9,313
(47,263)
-
(565)
(615)
-
4,294,231
172,020
335,150
(10,355)
258,315
(405,305)
(270,965)
1,069,005
(7,350)
(1,653)
15,860
(51,588)
9,100
(180,779)
(1,041,596)
1,636,703
Exhibit 4
Schedule of Operating Revenues - Budget to Actual
Income:
Lease revenue
Special service assessments
Transient aircraft fees and fuel flowage
Office of Economic Development - D.O.D.
Local match
Sale revenue
Miscellaneous
Interest on notes receivable
Interest on investments
Total income
$
Transfers:
From subsidiaries
From sale of property
From capital improvement sinking fund
Total transfers
$
26
44
Variance
positive
(negative)
Budget
Actual
946,300
1,212,300
52,800
89,800
841,300
191,100
261,800
9,000
3,800
4,300
3,612,500
925,583
1,321,624
46,118
74,038
872,618
40,250
409,285
206,398
34,348
26,251
3,956,513
(20,717)
109,324
(6,682)
(15,762)
31,318
(150,850)
147,485
197,398
30,548
21,951
344,013
440,700
1,219,300
612,000
2,272,000
543,441
543,441
102,741
(1,219,300)
(612,000)
(1,116,559)
5,884,500
4,499,954
(772,546)
Exhibit 5
Schedule of Operating Expenses - Budget to Actual
Variance
positive
(negative)
Budget
Actual
813,200
190,900
32,200
1,036,300
856,262
210,894
1,067,156
(43,062)
(19,994)
32,200
(30,856)
Employee benefits:
Unemployment compensation
Workers' compensation insurance
Deferred compensation
FICA taxes
Other employee benefits
Total employee benefits
6,700
12,900
78,500
77,100
174,000
349,200
8,165
9,480
81,504
79,918
167,380
346,447
(1,465)
3,420
(3,004)
(2,818)
6,620
2,753
Supplies:
Office supplies
Books and periodicals
Postage
Photocopier
Sand and chemicals
Cleaning supplies
Heating fuel
Gasoline and oil
Uniforms and personal safety equipment
Total supplies
5,000
800
3,500
5,800
6,000
200
469,000
44,500
2,200
537,000
17,097
421
1,609
2,633
233,312
34,596
973
290,641
(12,097)
379
1,891
3,167
6,000
200
235,688
9,904
1,227
246,359
Professional services:
Employee training
Dues and memberships
Board expenses
Executive director meeting expenses
Annual dinner
Computer services
Permits and fees
Legal services
Other professional services
Audit services
Total professional services
5,100
16,800
4,500
3,000
8,000
24,700
3,300
75,000
109,800
22,900
273,100
7,230
17,198
9,562
1,827
8,899
30,800
5,349
66,564
241,424
22,800
411,653
(2,130)
(398)
(5,062)
1,173
(899)
(6,100)
(2,049)
8,436
(131,624)
100
(138,553)
Personnel services:
Salaries
Wages
Other pay
Total personnel services
$
27
45
Exhibit 5, continued
Schedule of Operating Expenses - Budget to Actual, continued
Property services:
Vehicle maintenance
Electricity
Water and sewer
Telephone
Building maintenance
Rental expenses
Infrastructure maintenance
Equipment maintenance
Waste collection
Snow removal
Pavement and markings
Vegetation maintenance
Security maintenance
Navigation aid maintenance and service
Miscellaneous repairs and maintenance
Local match MAP projects
Reimbursement of expenses
Total property services
$
Other purchased services:
Liability insurance
Building insurance
Automobile insurance
Travel
Advertising
Printing
Donations
Contingency
Total other purchased services
Capital outlay:
Equipment and furniture
Tech hardware
Total capital outlay
Bad debt expense
Budget
Actual
16,600
1,260,000
517,100
17,500
225,000
36,900
590,100
64,500
3,900
137,500
38,000
5,700
5,900
32,800
140,000
176,500
3,268,000
9,674
1,375,869
591,848
20,646
257,533
52,045
278,346
25,799
13,829
212,520
43,556
8,135
9,474
27,184
106,823
26,190
(2,665)
3,056,806
6,926
(115,869)
(74,748)
(3,146)
(32,533)
(15,145)
311,754
38,701
(9,929)
(75,020)
(5,556)
(2,435)
(3,574)
5,616
33,177
150,310
2,665
211,194
10,300
44,500
16,200
10,900
2,700
3,000
10,000
97,600
6,455
51,490
13,648
19,751
5,436
2,921
88,293
43,803
231,797
3,845
(6,990)
2,552
(8,851)
(2,736)
79
(88,293)
(33,803)
(134,197)
6,800
6,800
15,221
15,221
6,800
(15,221)
(8,421)
-
172,020
(172,020)
(4,026)
(1,809,062)
(1,813,088)
Debt service:
Interest
Navy covenant agreement payment
Total debt service
4,100
157,400
161,500
8,126
1,966,462
1,974,588
Transfers:
To subsidiaries
To capital improvement sinking fund
Total transfers
334,600
120,400
455,000
186,194
186,194
6,184,500
7,752,523
$
28
46
Variance
positive
(negative)
148,406
120,400
268,806
(1,568,023)
Exhibit 6
Schedule of Activities
Program Revenues
Operating
Charges for
grants and
Expenses
services
contributions
Functions/programs
Business-type activities:
Redevelopment of Naval Air Station
$
13,734,866
3,601,114
872,618
Capital
grants and
contributions
Net (expense)
revenue and change
in net position
6,463,070
(2,798,064)
General revenues:
Total general revenues and gain on sale
395,749
1,593,690
1,989,439
(808,625)
Net position - beginning, as restated
Net position - ending
29
47
120,894,936
$
120,086,311
September 28, 2015
To the Management of
Midcoast Regional Redevelopment Authority:
In planning and performing our audit of the financial statements of Midcoast Regional Redevelopment
Authority (a component unit of the State of Maine) as of and for the year ended June 30, 2015, in
accordance with auditing standards generally accepted in the United States of America, we considered
Midcoast Regional Redevelopment Authority's internal control over financial reporting (internal control)
as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of
expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on
the effectiveness of Midcoast Regional Redevelopment Authority’s internal control. Accordingly, we do
not express an opinion on the effectiveness of Midcoast Regional Redevelopment Authority’s internal
control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect and correct misstatements on a timely basis. A material weakness is a deficiency or a
combination of deficiencies in internal control, such that there is a reasonable possibility that a material
misstatement of the entity’s financial statements will not be prevented, or detected and corrected, on a
timely basis.
Our consideration of internal control was for the limited purpose described in the first paragraph and
was not designed to identify all deficiencies in internal control that might be material weaknesses. In
addition, because of inherent limitations in internal control, including the possibility of management
override of controls, misstatements due to error or fraud may occur and not be detected by such
controls. Given these limitations, during our audit, we did not identify any deficiencies in internal
control that we consider to be material weaknesses. However, material weaknesses may exist that
have not been identified.
During our audit, we became aware of other matters that are an opportunity for strengthening internal
controls and operating efficiency. The attached schedule summarizes our comments and suggestions
regarding these other matters. This letter does not affect our report dated September 28, 2015 on the
financial statements of Midcoast Regional Redevelopment Authority.
1
48
Management of
Page 2
We wish to express our appreciation for the cooperation and assistance we received from the officials
and employees of Midcoast Regional Redevelopment Authority during the course of our audit. We will
review the status of this comment during our next audit engagement. We have already discussed it
with various Authority personnel, and we will be pleased to discuss it in further detail at your
convenience, to perform any additional study of this matter, or to assist you in implementing the
recommendations.
This communication is intended solely for the information and use of management, the Board of
Trustees, and others within the organization, and is not intended to be and should not be used by
anyone other than these specified parties.
Sincerely,
2
49
Schedule of Comments
June 30, 2015
Credit Card Documentation
During our testing of credit card disbursements, we noted three instances out of forty disbursements selected
for testing where credit card expenditures were lacking the appropriate receipt. We also noted one instance
that lacked the proper approval, as well as the supporting receipt. In order to ensure the credit cards are being
used for appropriate purchases, it is important to obtain supporting documentation before approving the
disbursement. In order to improve internal controls, we recommend ensuring that all supporting
documentation is acquired and reviewed prior to approval by management.
3
50
Reports Required by Government Auditing
Standards and OMB Circular A-133
51
Reports Required by Government Auditing Standards
and OMB Circular A-133
Report
Page
Independent Auditor’s Report on Internal Control over Financial Reporting and on Compliance
and Other Matters Based on an Audit of Financial Statements Performed in Accordance with
Government Auditing Standards
1-2
Independent Auditor’s Report on Compliance for Each Major Program and on Internal
Control over Compliance Required by OMB Circular A-133
3-5
Schedule of Expenditures of Federal Awards
6
Notes to Schedule of Expenditures of Federal Awards
7
Schedule of Findings and Questioned Costs:
Section I - Summary of Auditor's Results
8
Section II - Findings Required to be Reported Under Government Auditing Standards
9
Section III - Federal Award Findings, Questioned Costs and Corrective Action Plans
10
Section IV - Status of Prior Year Findings and Questioned Costs for Federal Awards
11
52
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
Board of Trustees
We have audited, in accordance with the auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards
issued by the Comptroller General of the United States, the financial statements of Midcoast Regional
Redevelopment Authority (a component unit of the State of Maine), as of and for the year ended June
30, 2015, and the related notes to the financial statements, which collectively comprise the Midcoast
Regional Redevelopment Authority’s basic financial statements, and have issued our report thereon
dated September 28, 2015.
Internal Control over Financial Reporting
In planning and performing our audit of the financial statements, we considered Midcoast Regional
Redevelopment Authority’s internal control over financial reporting (internal control) to determine the
audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion
on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of
Midcoast Regional Redevelopment Authority’s internal control. Accordingly, we do not express an
opinion on the effectiveness of Midcoast Regional Redevelopment Authority’s internal control.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent, or
detect or correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control, such that there is a reasonable possibility that a
material misstatement of the entity’s financial statements will not prevented, or detected and
corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in
internal control that is less severe than a material weakness, yet important enough to merit attention
by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this
section and was not designed to identify all deficiencies in internal control that might be material
weaknesses or, significant deficiencies. Given these limitations, during our audit we did not identify any
deficiencies in internal control that we consider to be material weaknesses. However, material
weaknesses may exist that have not been identified.
1
53
INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED
IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS, CONTINUED
Compliance and Other Matters
As part of obtaining reasonable assurance about whether Midcoast Regional Redevelopment
Authority’s financial statements are free from material misstatement, we performed tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements,
noncompliance with which could have a direct and material effect on the determination of financial
statement amounts. However, providing an opinion on compliance with those provisions was not an
objective of our audit, and accordingly, we do not express such an opinion. The results of our tests
disclosed no instances of noncompliance or other matters that are required to be reported under
Government Auditing Standards.
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and
compliance and the results of that testing, and not to provide an opinion on the effectiveness of the
entity’s internal control or on compliance. This report is an integral part of an audit performed in
accordance with Government Auditing Standards in considering the entity’s internal control and
compliance. Accordingly, this communication is not suitable for any other purpose.
September 28, 2015
2
54
INDEPENDENT AUDITOR’S REPORT ON COMPLIANCE FOR EACH MAJOR PROGRAM AND ON INTERNAL
CONTROL OVER COMPLIANCE REQUIRED BY OMB CIRCULAR A-133
Board of Trustees
Report on Compliance for Each Major Federal Program
We have audited Midcoast Regional Redevelopment Authority’s (a component unit of the State of
Maine) compliance with the types of compliance requirements described in OMB Circular A-133
Compliance Supplement that could have a direct and material effect on each of Midcoast Regional
Redevelopment Authority’s major federal programs for the year ended June 30, 2015. Midcoast
Regional Redevelopment Authority’s major federal programs are identified in the summary of auditor’s
results section of the accompanying schedule of findings and questioned costs.
Management’s Responsibility
Management is responsible for compliance with the requirements of laws, regulations, contracts, and
grants applicable to its federal programs.
Auditor’s Responsibility
Our responsibility is to express an opinion on compliance for each of Midcoast Regional Redevelopment
Authority’s major federal programs based on our audit of the types of compliance requirements
referred to above. We conducted our audit of compliance in accordance with auditing standards
generally accepted in the United States of America; the standards applicable to financial audits
contained in Government Auditing Standards, issued by the Comptroller General of the United States;
and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those
standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable
assurance about whether noncompliance with the types of compliance requirements referred to above
that could have a direct and material effect on a major federal program occurred. An audit includes
examining, on a test basis, evidence about Midcoast Regional Redevelopment Authority’s compliance
with those requirements and performing such other procedures as we considered necessary in the
circumstances.
We believe that our audit provides a reasonable basis for our opinion on compliance for each major
federal program. However, our audit does not provide a legal determination of Midcoast Regional
Redevelopment Authority’s compliance.
3
55
CONTROL OVER COMPLIANCE REQUIRED BY OMB CIRCULAR A-133, CONTINUED
Opinion on Each Major Federal Program
In our opinion, Midcoast Regional Redevelopment Authority complied, in all material respects, with the
types of compliance requirements referred to above that could have a direct and material effect on
each of its major federal programs for the year ended June 30, 2015.
Report on Internal Control over Compliance
Management of Midcoast Regional Redevelopment Authority is responsible for establishing and
maintaining effective internal control over compliance with the types of compliance requirements
referred to above. In planning and performing our audit of compliance, we considered Midcoast
Regional Redevelopment Authority's internal control over compliance with the types of requirements
that could have a direct and material effect on each major federal program to determine the auditing
procedures that are appropriate in the circumstances for the purpose of expressing an opinion on
compliance for each major federal program and to test and report on internal control over compliance
in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the
effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the
effectiveness of Midcoast Regional Redevelopment Authority’s internal control over compliance.
A deficiency in internal control over compliance exists when the design or operation of a control over
compliance does not allow management or employees, in the normal course of performing their
assigned functions, to prevent or detect and correct, noncompliance with a type of compliance
requirement of a federal program on a timely basis. A material weakness in internal control over
compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such
that there is a reasonable possibility that material noncompliance with a type of compliance
requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A
significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies,
in internal control over compliance with a type of compliance requirement of a federal program that is
less severe than a material weakness in internal control over compliance, yet important enough to
merit attention by those charged with governance.
Our consideration of the internal control over compliance was for the limited purpose described in the
first paragraph of this section and was not designed to identify all deficiencies in the internal control
over compliance that might be material weaknesses or significant deficiencies. We did not identify any
deficiencies in internal control over compliance that we consider to be material weaknesses. However,
material weaknesses may exist that have not been identified.
4
56
CONTROL OVER COMPLIANCE REQUIRED BY OMB CIRCULAR A-133, CONTINUED
The purpose of this report on internal control over compliance is solely to describe the scope of our
testing of internal control over compliance and the results of that testing based on the requirements of
OMB Circular A-133. Accordingly, this report is not suitable for any other purpose.
Report on Schedule of Expenditures of Federal Awards Required by OMB Circular A-133
We have audited the financial statements of the Midcoast Regional Redevelopment Authority as of and
for the year ended June 30, 2015, and the related notes to the financial statements, which collectively
comprise Midcoast Regional Redevelopment Authority’s basic financial statements. We issued our
report thereon dated September 28, 2015, which contained an unmodified opinion on those financial
statements. Our audit was conducted for the purpose of forming an opinion on the financial
statements that collectively comprise the basic financial statements. The accompanying schedule of
expenditures of federal awards is presented for purposes of additional analysis as required by OMB
Circular A-133 and is not a required part of the basic financial statements. Such information is the
responsibility of management and was derived from and relates directly to the underlying accounting
and other records used to prepare the basic financial statements. The information has been subjected
to the auditing procedures applied in the audit of the basic financial statements and certain additional
procedures, including comparing and reconciling such information directly to the underlying accounting
and other records used to prepare the basic financial statements or to the basic financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted
in the United States of America. In our opinion, the schedule of expenditures of federal awards is fairly
stated in all material respects in relation to the basic financial statements as a whole.
September 28, 2015
5
57
Schedule of Expenditures of Federal Awards
Federal
CFDA
Number
Federal Grantor/Pass-through
Grantor/Program Title
U.S. Department of Commerce:
Investments for Public Works and Economic Development Facilities:
01-01-14050
Economic Adjustment Assistance:
01-79-14363
Passed through the Maine Department of Economic and Community
Development and Maine International Trade Center:
Invest in Maine
Total U.S. Department of Commerce
U.S. Department of Defense:
Community Economic Adjustment Assistance for Establishment,
Expansion, Realignment, or Closure of Military Installation:
HQ000513100106
HQ00051410025
Total U.S. Department of Defense
U.S. Department of Housing and Urban Development, passed through
State of Maine Department of Economic and Community Development
and Town of Brunswick:
Community Development Block Grant Program
Total U.S. Department of Housing and Urban Development
U.S. Department of Transportation:
Airport Improvement Program:
3-23-0056-003-2011
3-23-0056-007-2013
3-23-0056-008-2013
3-23-0056-009-2013
3-23-0056-010-2013
3-23-0056-012-2014
3-23-0056-013-2014
3-23-0056-014-2014
3-23-0056-015-2014
3-23-0056-016-2014
3-23-0056-017-2014
Total U.S. Department of Transportation
Total federal expenditures
11.300
2015
Federal
Expenditures
$
318,457
11.307
532,471
11.307
30,943
881,871
12.607
12.607
31,317
841,301
872,618
14.228
250,000
250,000
20.106
20.106
20.106
20.106
20.106
20.106
20.106
20.106
20.106
20.106
20.106
1,202,111
3,749
90,719
37,797
4,722
182,076
188,096
433,842
131,626
1,129,586
131,679
3,536,003
$
5,540,492
See accompanying notes to schedule of expenditures of federal awards.
6
58
Notes to Schedule of Expenditures of Federal Awards
June 30, 2015
PURPOSE OF THE SCHEDULE
Office of Management and Budget (OMB) Circular A-133, Audits of States, Local Governments and Non-Profit
Organizations, requires a schedule of expenditures of federal awards showing total expenditures for each
federal award program as identified in the Catalog of Federal Domestic Assistance (CFDA).
SIGNIFICANT ACCOUNTING POLICIES
A.
Reporting Entity - The accompanying schedule includes all federal award programs of Midcoast Regional
Redevelopment Authority for the fiscal year ended June 30, 2015. The reporting entity is defined in the
notes to the financial statements of Midcoast Regional Redevelopment Authority.
B.
Basis of Presentation - The information in the accompanying Schedule of Expenditures of Federal Awards is
presented in accordance with OMB Circular A-133.
1. Pursuant to OMB Circular A-133, federal awards are defined as assistance provided by a federal
agency, either directly or indirectly, in the form of grants, contracts, cooperative agreements, loans,
loan guarantees, property, interest subsidies, insurance, or direct appropriations.
2. Major Programs - OMB Circular A-133 establishes the level of expenditures or expenses to be used in
defining major federal award programs. Major programs for Midcoast Regional Redevelopment
Authority are identified in the summary of auditor’s results section in the schedule of findings and
questioned costs.
C.
Basis of Accounting - The information presented in the schedule of expenditures of federal awards is
presented on the accrual basis of accounting, which is consistent with the reporting in the Authority’s
financial statements. The Schedule of Federal Awards does not include matching amounts that the
Authority expends in connection with its federal programs.
7
59
Schedule of Findings and Questioned Costs
June 30, 2015
Section I - Summary of Auditor's Results
Financial Statements
Type of auditor’s report issued:
Unmodified
Internal control over financial reporting:
Material weaknesses identified?
Significant deficiency identified?
No
None reported
Noncompliance material to financial statements noted?
No
Federal Awards
Internal control over major programs:
Material weaknesses identified?
Significant deficiency identified?
No
None reported
Type of auditor’s report issued on compliance
for major programs:
Unmodified
Any audit findings disclosed that are required
to be reported in accordance with
Circular A-133, Section .510(a)?
No
Identification of major programs:
CFDA Numbers
Name of Federal Program or Cluster
20.106
Airport Improvement Program
Dollar threshold used to distinguish
between Type A and Type B programs:
$300,000
Auditee qualified as low-risk auditee?
No
8
60
Schedule of Findings and Questioned Costs, Continued
Section II - Findings Required to be Reported Under Government Auditing Standards
NONE
9
61
Section III - Federal Award Findings, Questioned Costs and Corrective Action Plans
NONE
10
62
Section IV - Status of Prior Year Findings and Questioned Costs for Federal Awards
NONE
11
63
64
Consolidated Financial Report
Consolidated Profit and Loss Statement for MRRA Operating Entities
July 1, 2015 to September 30, 2015
Revenue
Federal Grants
$101,315.00
Intergovernmental Revenue
$53,022.27
Charge For Services Revenue
$21,953.68
Special Service Assessments (Utilities)
$241,632.42
Lease Revenue
$544,827.98
Sale of Assets
$0.00
Sale of Property
$86,882.50
Miscellaneous Income
$69,103.78
Interest Income
$8,549.56
Total Revenue
$1,127,287.19
Expenses
Personnel Services
Employee Benefits
Supplies
Professional Services
Property Services
Other Purchased Services
Capital Outlay
Debt Service
Total Expenses
$279,083.23
$97,283.49
$23,213.36
$69,673.62
$743,836.01
$82,307.35
$137,348.04
$214,872.67
$1,647,617.77
Net Operating Income
($520,330.58)
Other Income
Loan Principal Payments
Interest Earned
Total Other Income
$0.00
$0.00
$0.00
Other Expenses
Transfers and Taxes
Taxes
Transfers
Total 50900 Transfers
$90.75
($265,506.54)
($265,415.79)
Net Other Income
Consolidated Balance Sheet for the period ending September 30, 2015
Assets
Current Assets
Bank Accounts
Accounts Receivable
Other current assets
Total Current Assets
$5,610,838.38
$1,778,693.27
$3,889.72
$7,393,421.37
Fixed Assets
Other Assets
Total Assets
$129,819,136.72
($570,224.47)
$136,642,333.62
Liabilities and Equity
Liabilities
Current Liabilities
Accounts Payable
Other Current Liabilities
Total Current Liabilities
$2,696,976.42
$1,009,421.49
$3,706,397.91
Long-Term Liabilities
Total Liabilities
$15,346,438.43
$19,052,836.34
Equity
DFB MRRA Capital Reserve
DFB BXM Capital Reserve
DFB Lease Hold Improvement Fund
DFB Revenue for Annuitization
DFB Special Projects Capital Reserve
Retained Earnings
Net Income
Total Equity
$957,618.34
$0.00
$300,000.00
$3,605,571.81
$97,000.00
$114,246,178.08
($1,616,870.95)
$117,589,497.28
Total Liabilities and Equity
$136,642,333.62
FY 2016 Consolidated Revenue from Operating Entities
$265,506.54
Net Income
Lease Revenue
Special Service
Assessments
(Utilities)
($254,824.04)
Consolidated Long Term Liabilities
Brunswick Landing MHC LLC (Molnlycke Healthcare Building)
Treasurer of the United States (EDC Transfer)
Treasurer State of Maine (MaineDOT Line of Credit)
Contributed Capital
$14,265,000.00
$0.00
$1,078,328.93
$3,109.50
$15,346,438.43
Other Contingent Long Term Liability
Treasurer of the United States (EDC Transfer) 25.0% of all lease and sales revenue
Intergovernmental
Revenue
Consolidated Fixed Assets
Land
Buildings
Machinery and Equipment
Furniture
Vehicles
Electrical
Water and Sewer
Roads and Sidewalks
Construction in Progress
$56,221,921.94
$46,728,274.13
$1,006,678.42
$1,804.12
$27,392.58
$2,189,401.35
$17,257,046.51
$441,877.26
$5,944,740.41
$129,819,136.72
Sale of
Property
Charge For
Services Revenue
Miscellaneous
Income
Federal Grants
FY 2015 Consolidated Operating Entity Expenses
Debt Service
Personnel
Services
Employee
Benefits
Other
Purchased
Services
Supplies
Property
Services
Professional
Services
Page 1 of 42
65
Consolidated Financial Report
Grants, Reserves and Homeless Assistance Fund
Inception to September 30, 2015
Consolidated Statement of Cash Flows for September 2015
Revenue
Federal Grants
Sale of Assets
Interest Income
Total Income
$10,872,971.45
$4,598,279.17
$308,013.86
$970.70
$0.00
$49,806.04
$15,830,041.22
Expenses
Personnel Services
Employee Benefits
Supplies
Property Services
Capital Outlay
Debt Service
Total Expenses
$0.00
$0.00
$0.00
$45,243.46
$0.00
$327,263.86
$26,300,065.59
$0.00
$26,672,572.91
Other Expenses
Transfers (primarily sale of property)
Total Other Expenses
Total Expenses and Transfers
Net Income
($14,683,222.32)
($14,683,222.32)
$11,989,350.59
$3,840,690.63
Reporting Entities:
Midcoast Regional Redevelopment Authority (MRRA) - Federally recognized
redevelopment authority for the former NAS Brunswick facility. Created by the State
of Maine, 5 MRSA §13083-G. Eleven member Board appointed by the Governor and
confirmed by the Maine Senate. MRRA began operations on January 1, 2008.
Operating Activities
Total Income
Expenses
Personnel Services
Employee Benefits
Supplies
Property Services
Capital Outlay
Debt Service
Bad Debt Expense
Transfers / Gain or Loss on Sale of Property/Taxes
Total Expenses
Brunswick Landing Realty Development Corporation - A corporation formed by
MRRA to participate with Brunswick Landing MHC USA, LLC (minority partner) in the
development of the building for Mölnlycke Health Care.
Brunswick Landing Economic Development Company - A company formed by MRRA
for the purpose of filing an application as a Community Development Entity with the
United States Department of Treasury for a New Market Tax Credit Allocation. The
application filed in 2012 was unsuccessful. The organization has not been active.
Midcoast Charitable Foundation of Maine - A 501(c.)(3) organization created by
MRRA for the purpose of distributing funds to local community organizations from
the proceeds from the Great State of Maine Air Show.
$84,354.65
$36,919.28
$9,559.50
$28,268.54
$408,356.86
$24,365.23
$148,687.26
$52,569.82
$0.00
$152,413.83
$945,494.97
Net Income
$251,451.66
Adjust. to reconcile Net Income to Net Cash provided by operations:
11410 Intergovernmental Receivable
11510-2 MRDA Loan Receivable - SaviLinx
11510- Loan Receivable Kestrel Aircraft
11511 Note Receivable JR Development
11530 Accounts Receivable
11532 Accounts Receivable MaineDOT
11537 Growth Fund Loan Receivable - SaviLinx
11534 Accounts Receivable - State Jobs Bond
11535 Accounts Receivable MTI/EDA
11533 Accounts Receivable - FAA
12220 Accumulated Depreciation Land Improvements
12320 Accumulated Depreciation Buildings
24000 Payroll Liabilities
24110 Maine Sales Tax Payable
24210 Accounts Payable
24215 Accrued Expense
$0.00
$776.50
$0.00
$0.00
($266,279.26)
$0.00
$809.45
$0.00
$362.86
$0.00
($46,321.76)
$43,932.68
$0.00
($144.69)
$320,415.71
($10,800.00)
24500 MRDA Loan Payable
Brunswick Landing MHC USA, LLC - Entity created by MRRA as limited liability
corporation to construct a build to suit 79,600 square foot manufacturing facility for
Molnlycke Health Care using federal New Market Tax Credits and loan from CCML
Community Development XXII.
$1,196,946.63
24610 Accrued Salaries and Wages
24216 Brunswick Landing MHC - Reserve
24320 Construction Retainage Payable
24710-3 Payroll 401(a) and 457(b) Withholding
24710-4 Payroll FSA Withholding
24710-5 Payroll United Way Withholding
24720 Property Tax Holding Account
24810-6 Deferred Revenue - Homeless Asst.
24810 Deferred Revenue Rent
24910 Security Deposit
24910-1 Security Deposits - Residential
25510 Compensated Absences Payable
Total
$14,381.58
$0.00
$29,036.76
$0.00
$256.52
($299.68)
$328.00
($452,716.04)
($16,691.88)
$0.00
$0.00
$0.00
$0.00
($382,953.25)
Net Cash provided by Operating Activities
($131,501.59)
Investing Activities (primarily sale of property)
12110 Land
12310 Buildings and Building Improvements
13500 Construction in Progress
Net Cash Provided by Investing Activities
$120,894.34
$426,700.00
($394,747.35)
$152,846.99
Financing Activities
37141 Designated Fund Bal. - MRRA Capital Reserve
$0.00
37142 Designated Fund Bal. - Bruns. Exec Airport Capital Reserve
$0.00
37143 Designated Fund Bal. - Lease Hold Improvement Fund
37144 Designated Fund Bal. - Reserve of Sale Rev. for Annuitization
37145 Designated Fund Bal. - Special Project Capital Reserve
37300 Retained Earnings
Net cash provided by financing activities
$0.00
$0.00
$0.00
$0.00
$0.00
Net cash increase for period
Cash at beginning of period
Cash at end of period
$109,746.91
$5,501,091.47
$5,610,838.38
Page 2 of 42
66
Table of Contents
page
Financial Dashboard
1
Index
3
Consolidated Reports
Consolidated Profit and Loss Statement
Consolidated Balance Sheet
Consolidated Statement of Cash Flows
4
5
9
Budget Reports
Budget Summary and Tie to Cash
FY 2014 Brunswick Executive Airport Budget
FY 2014 Electric Utility Budget
FY 2014 Water Utility Budget
FY 2014 Stormwater and Sanitary Sewer Budget
Brunswick Landing Realty Development Corporation (TechPlace)
Grants Fund Budget
Reserve Fund Budgets
Homeless Assistance Trust Fund
Brunswick Landing MHC USA, LLC Profit and Loss Statement
Brunswick Landing Economic Development Company Profit and Loss Statement
Midcoast Charitable Foundation of Maine Profit and Loss Statement
11
12
15
17
18
19
20
21
22
24
25
26
27
28
Balance Sheets
Midcoast Regional Redevelopment Authority Balance Sheet
Brunswick Landing Realty Development Corporation Balance Sheet
Brunswick Landing MHC USA, LLC Balance Sheet
Brunswick Landing Economic Development Company Balance Sheet
Midcoast Charitable Foundation of Maine Balance Sheet
29
31
32
33
34
Statement of Cash Flows
Midcoast Regional Redevelopment Authority Statement of Cash Flows
Brunswick Landing Realty Development Corporation Statement of Cash Flows
Brunswick Landing MHC USA, LLC Statement of Cash Flows
Brunswick Landing Economic Development Company Statement of Cash Flows
Midcoast Charitable Foundation of Maine Statement of Cash Flows
35
36
37
38
39
Page 3 of 42
67
Consolidated Profit and Loss Statement
Midcoast Regional
Redevelopment Authority
(including OEA), all
utilities and Brunswick
Realty Development (this
fiscal year to date)
Grants, Reserves and
Homeless Assistance (all
dates)
Brunswick Landing MHC
USA LLC (this fiscal year)
Brunswick Landing
Economic Development
Company (this fiscal year)
Midcoast Charitable
Foundation of Maine
(this fiscal year)
Total
Operating Only
$101,315.00
Income
Federal Grants
$101,315.00
$10,872,971.45
$0.00
$0.00
$0.00
$10,974,286.45
$53,022.27
$4,598,279.17
$0.00
$0.00
$0.00
$4,651,301.44
$53,022.27
$21,953.68
$308,013.86
$0.00
$0.00
$0.00
$329,967.54
$21,953.68
Special Service Assessments (Utilities)
$241,632.42
$0.00
$0.00
$0.00
$0.00
$241,632.42
$241,632.42
Lease Revenue
$252,405.53
$0.00
$292,422.45
$0.00
$0.00
$544,827.98
$544,827.98
$0.00
$970.70
$0.00
$0.00
$0.00
$970.70
$0.00
Sale of Property
$86,882.50
$0.00
$0.00
$0.00
$0.00
$86,882.50
$86,882.50
$69,103.78
$0.00
$0.00
$0.00
$0.00
$69,103.78
$69,103.78
$8,549.56
$49,806.04
$0.00
$0.00
$0.00
$58,355.60
$8,549.56
$834,864.74
$15,830,041.22
$292,422.45
$0.00
$0.00
$16,957,328.41
$1,127,287.19
Personnel Services
$279,083.23
$0.00
$0.00
$0.00
$0.00
$279,083.23
$279,083.23
Employee Benefits
$97,283.49
$0.00
$0.00
$0.00
$0.00
$97,283.49
$97,283.49
Supplies
$23,213.36
$0.00
$0.00
$0.00
$0.00
$23,213.36
$23,213.36
$69,613.62
$45,243.46
$0.00
$0.00
$60.00
$114,917.08
$69,673.62
$743,836.01
$0.00
$0.00
$0.00
$0.00
$743,836.01
$743,836.01
Sale of Assets
Interest Income
Total Income
Expenses
Property Services
Capital Outlay
Debt Service
Total Expenses
$75,204.35
$327,263.86
$5,500.00
$0.00
$1,603.00
$409,571.21
$82,307.35
$5,550.00
$26,300,065.59
$131,798.04
$0.00
$0.00
$26,437,413.63
$137,348.04
$111,503.87
$0.00
$103,368.80
$0.00
$0.00
$214,872.67
$214,872.67
$1,405,287.93
$26,672,572.91
$240,666.84
$0.00
$1,663.00
$28,320,190.68
$1,647,617.77
($10,842,531.69)
$51,755.61
$0.00
($1,663.00)
($11,362,862.27)
($570,423.19)
($520,330.58)
Other Income
Loan Principal Payments
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Interest Earned
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Total Other Income
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$90.75
$0.00
$0.00
$0.00
$0.00
$90.75
$90.75
($397,878.04)
($14,683,222.32)
$135,860.28
$0.00
($3,579.53)
($14,948,819.61)
($265,597.29)
($397,787.29)
($14,683,222.32)
$135,860.28
$0.00
($3,579.53)
($14,948,728.86)
($265,506.54)
$397,787.29
$14,683,222.32
($135,860.28)
$0.00
$3,579.53
$14,948,728.86
$265,506.54
($172,635.90)
$3,840,690.63
($84,104.67)
$0.00
$1,916.53
$3,585,866.59
($254,824.04)
Other Expenses
Taxes
Transfers (primarily sale of property)
Net Other Expenses
Net Income
Page 4 of 42
68
Midcoast Regional
Redevelopment
Authority
BL Economic Brunswick Landing
Development
MHC USA, LLC
Company
Brunswick
Landing Realty
Development
Company
Midcoast
Charitable
Foundation of
Maine
Total
Assets
Current Assets
Bank Accounts
Bath Savings Institution Check. - 8906
$459,134.30
$459,134.30
$0.00
$0.00
$268,818.78
$268,818.78
Bath Savings - Payroll - 3166
$21,339.65
$21,339.65
Androscoggin Savings Bank Sweep - 1420
$18,174.08
$18,174.08
Great State of ME Air Show Savings Closed
Homeless Assistance Trust Fund -1352
Androscoggin Savings Bank
$0.00
Residential Security Deposits
$0.00
$0.00
$965,375.54
$965,375.54
$5,834.77
$5,834.77
$521,746.70
$521,746.70
$3,076,722.66
$3,076,722.66
Bangor Savings - Restricted 2374
Bangor Savings - Project Operating 2366
Mechanic Savings Bank - 10472
Mechanic Savings Bank
Bath Savings 3339556 Checking
$81,081.24
$81,081.24
$2,500.00
Bangor Savings 2358 Checking
$2,500.00
$185,110.66
$2,500.00
$187,610.66
Prepaid Expenses
$0.00
Bath Savings Checking 3339262
Total Bank Accounts
$2,500.00
$5,337,146.48
$2,500.00
$185,110.66
$83,581.24
$2,500.00
$2,500.00
$5,610,838.38
Accounts Receivable
$0.00
$0.00
$31,256.96
$31,256.96
$224,841.60
$224,841.60
$0.00
$0.00
11510-4 Loan Receivable - Kestrel Aircraft
$362,277.29
$362,277.29
11510-5 Loan Receivable - Frosty's Donuts
$47,917.17
$47,917.17
11510-6 Loan Receivable Family Donuts
$33,393.49
$33,393.49
11510-7 Loan Receivable - Fire House Realty
$34,791.07
$34,791.07
11510-1 Revolving Loan Fund Receivable - SaviLinx
11510-3 Loan Receivable - J.R Development
$956,150.47
$85,832.66
$0.00
$1,041,983.13
11532 Accounts Receivable - MDOT
$0.00
$0.00
11533 Accounts Receivable FAA
$0.00
$0.00
$0.00
$0.00
11536 Accounts Receivable (Property Taxes)
$2,232.56
$2,232.56
Total Accounts Receivable
$1,692,860.61
$0.00
$0.00
$85,832.66
$0.00
$1,778,693.27
Page 5 of 42
69
Midcoast Regional
Redevelopment
Authority
Development
MHC USA, LLC
Company
Brunswick
Landing Realty
Development
Company
Midcoast
Charitable
Foundation of
Maine
Total
11535 Accounts Receivable - EDA/MTI
$0.00
$0.00
11537 Growth Fund Loan Receivable - Savilinx
$0.00
$0.00
11810 Prepaid Expenses
$0.00
12000 Undeposited Funds
$0.00
Total Other current assets
$
2,783.00
$1,106.72
$3,889.72
$0.00
$0.00
$0.00
$0.00
$2,783.00
$1,106.72
$0.00
$7,030,007.09
$2,500.00
$187,893.66
$170,520.62
$2,500.00
$3,889.72
$7,393,421.37
Fixed Assets
12110 Land
12111 Allowance for Loss on Land Sale
$43,079,627.20
$15,815,763.59
$58,895,390.79
$0.00
$0.00
12220 A/D on Site Improvements
($2,673,468.85)
($2,673,468.85)
$53,881,369.92
12320 A/D Building & Building Improvement
($5,966,913.43)
12410 Machinery & Equipment
$1,433,670.13
12420 A/D - Machinery & Equipment
($426,991.71)
12510 Furniture and Equipment
12520 A/D Furniture
12610 Vehicles
($1,186,182.36)
$52,695,187.56
($5,966,913.43)
$1,433,670.13
($426,991.71)
$35,891.26
$35,891.26
($34,087.14)
($34,087.14)
$90,410.50
$90,410.50
12620 A/D Vehicles
($63,017.92)
($63,017.92)
12710 Photocopier
$0.00
$0.00
12720 A/D Photocopier
$0.00
$0.00
12810 Infrastructure Electrical
$2,418,485.37
$2,418,485.37
12820 A/D - Electrical Infrastructure
($229,084.02)
($229,084.02)
12910 Infrastructure Water and Sewer
$20,375,698.19
$20,375,698.19
12920 A/D - Water & Sewer Infrastructure
($3,118,651.68)
($3,118,651.68)
$441,877.26
$441,877.26
$0.00
$0.00
$5,944,740.41
$5,944,740.41
13110 Infrastructure Streets and Roads
13120 A/D - Streets & Roads
Total Fixed Assets
$115,189,555.49
$0.00
$14,629,581.23
$0.00
$0.00
$129,819,136.72
Other Assets
11540 Allowance for Uncollectable Lease Receivables
($275,608.02)
($275,608.02)
11541 Allowance for Uncollectable Loans
($395,280.45)
($395,280.45)
11910 Security Deposits
Total Other Assets
Total Assets
$100,664.00
$100,664.00
($570,224.47)
$0.00
$0.00
$0.00
$0.00
($570,224.47)
$121,649,338.11
$2,500.00
$14,817,474.89
$170,520.62
$2,500.00
$136,642,333.62
Page 6 of 42
70
Midcoast Regional
Redevelopment
Authority
Development
MHC USA, LLC
Company
Brunswick
Landing Realty
Development
Company
Midcoast
Charitable
Foundation of
Maine
Total
$2,691,172.87
$5,685.00
$118.55
$0.00
$2,696,976.42
Liability and Equity
Liabilities
Current Liabilities
Accounts Payable
Total Accounts Payable
$2,691,172.87
$0.00
$5,685.00
$118.55
$0.00
$2,696,976.42
Credit Cards
$4,153.82
$4,153.82
Debit Card
$0.00
$0.00
Total Credit Cards
$4,153.82
$0.00
$0.00
$0.00
$0.00
$4,153.82
$0.00
$0.00
($386.63)
($386.63)
24214 Air Show Reserve
$0.00
$0.00
$4,000.00
$4,000.00
$963,940.88
$963,940.88
24500 MRDA Loan Payable -SaviLinx
$234,700.65
$234,700.65
24510 Line of Credit Loan Payable
$0.00
$0.00
24610 Accrued Salaries & Wages
$0.00
$0.00
24710 Payroll Deduct. & Withholdings
$0.00
$0.00
24710-1 State and Federal Withholdings
$0.00
$0.00
24710-2 FICA Withholdings
$0.00
$0.00
$256.52
$256.52
24710-3 401(a) and 457(b) Withholding
24710-4 FSA Witholding and Child Suport
24710-5 United Way Withholding
24720 Property Tax Escrow Account
24320 Construction Retainage
24810 Deferred Revenue
($176.34)
($176.34)
$0.00
$0.00
($668,474.40)
($668,474.40)
$0.00
$0.00
$7,291.65
$97,474.15
$104,765.80
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
24911 Other Current Liabilities
$0.00
$0.00
$250,417.56
$250,417.56
24810-6 Deferred Revenue - Homeless Assistance
24810-7 Deferred Revenue - Town of Brunswick
$0.00
$117,629.14
$117,629.14
Page 7 of 42
71
Midcoast Regional
Redevelopment
Authority
Development
MHC USA, LLC
Company
($11,818.51)
Brunswick
Landing Realty
Development
Company
Midcoast
Charitable
Foundation of
Maine
$10,413.00
Total
($1,405.51)
$0.00
$0.00
24610 - Accrued Payroll
$0.00
$0.00
25510 Compensated Absences Payable
$0.00
$0.00
Total Other Current Liabilities
$897,380.52
$0.00
$97,474.15
$10,413.00
$0.00
$3,592,707.21
$0.00
$103,159.15
$10,531.55
$0.00
$1,005,267.67
$3,706,397.91
24511 Line of Credit - MDOT
$1,078,328.93
$1,078,328.93
25210-1 MRRA Vehicle Loan
$0.00
$0.00
25310 Capital Lease Photocopier
$0.00
$0.00
25900 Notes Payables
$0.00
Contributed Capital
$0.00
Total Long-Term Liabilities
Total Liabilities
$14,265,000.00
$467.50
$1,962.00
$14,265,000.00
$680.00
$3,109.50
$1,078,328.93
$467.50
$14,266,962.00
$680.00
$0.00
$15,346,438.43
$4,671,036.14
$467.50
$14,370,121.15
$11,211.55
$0.00
$19,052,836.34
Equity
Fund Balance Designated - MRRA Capital Reserve
Fund Balance Designated - Bruns. Exec Airport Capital Reserve
Fund Balance Designated - Lease Hold Improvement Fund
Fund Balance Designated - Reserve of Sale Revenue for Annuitization
Fund Balance Designated - Special Project Capital Reserve
Retained Earnings
Net Assets - Equipment
Net Income
Total Equity
$957,618.34
$957,618.34
$0.00
$0.00
$300,000.00
$300,000.00
$3,605,571.81
$3,605,571.81
$97,000.00
$97,000.00
$113,699,963.35
$2,032.50
$531,458.41
$12,140.35
$583.47
$0.00
($1,681,851.53)
$116,978,301.97
$114,246,178.08
$0.00
$0.00
$2,032.50
($84,104.67)
$447,353.74
$147,168.72
$159,309.07
$1,916.53
$2,500.00
($1,616,870.95)
$117,589,497.28
$0.00
$121,649,338.11
$0.00
$2,500.00
$0.00
$14,817,474.89
$0.00
$170,520.62
$0.00
$2,500.00
$0.00
$136,642,333.62
$0.00
Page 8 of 42
72
Month of September 2015
Total Income
Expenses
Personnel Services
Employee Benefits
Supplies
Property Services
Capital Outlay
Debt Service
Bad Debt Expense
Transfers / Gain or Loss on Sale of Property/Taxes
Total Expenses
Net Income
Midcoast Regional
Redevelopment
Authority
Brunswick Landing
MHC USA, LLC
Brunswick Landing
Economic
Development
Corporation
Brunswick Landing
Realty Development
Corporation
Midcoast
Charitable
Foundation of
Maine
Total
$1,081,149.23
$97,474.15
$0.00
$18,323.25
$0.00
$1,196,946.63
$84,354.65
$36,519.28
$9,329.38
$26,018.54
$402,784.72
$12,141.23
$99,113.83
$885.42
$0.00
$77,733.09
$748,880.14
$77,786.76
$178,903.84
$332,269.09
($81,429.69)
$0.00
($3,106.02)
$17,710.99
$0.00
$84,354.65
$36,919.28
$9,559.50
$28,268.54
$408,356.86
$24,365.23
$148,687.26
$52,569.82
$0.00
$152,413.83
$945,494.97
$0.00
$612.26
$0.00
$251,451.66
$400.00
$230.12
$2,250.00
$5,572.14
$6,724.00
$5,640.75
$5,500.00
$43,932.68
$51,684.40
Adjust. to reconcile Net Income to Net Cash provided by operations:
$0.00
$0.00
$776.50
$776.50
11510- Loan Receivable Kestrel Aircraft
$0.00
$0.00
11510-5 Loan Receivable Frosty's Donuts
$0.00
11510-6 Loan Receivable Family Focus
11510-7 Loan Receivable Fire House Realty
$613.16
$70.04
($263,069.51)
11532 Accounts Receivable MaineDOT
$0.00
11536 Property Taxes Receivable
$0.00
24500 MRDA Loan Payable - SaviLinx
($3,209.75)
$0.00
($266,279.26)
$0.00
$14,381.58
$14,381.58
$809.45
$809.45
$0.00
$0.00
$0.00
$0.00
$362.86
$362.86
$0.00
$0.00
11537 Growth Fund Loan Receivable - SaviLinx
11511 Loan Receivable JR Development
11540 Allowance for Uncollectible Receivables
$107,429.84
12220 A/D Land and Site Improvements
($46,321.76)
($46,321.76)
$43,932.68
$43,932.68
12420 A/D Machinery and Equipment
$0.00
12820 A/D Electrical Infrastructure
$0.00
25510 - Compensated Absences Payable
$0.00
$0.00
$0.00
$0.00
$0.00
Page 9 of 42
73
11810 - Prepaid Expenses
Midcoast Regional
Redevelopment
Authority
Brunswick Landing
MHC USA, LLC
Brunswick Landing
Economic
Development
Corporation
Brunswick Landing
Realty Development
Corporation
Midcoast
Charitable
Foundation of
Maine
Total
($3,952.64)
$0.00
$320,415.71
$43,317.32
($144.69)
$318,868.35
Androscoggin Savings Credit Card
($10,490.73)
($10,800.00)
($144.69)
$5,500.00
($10,800.00)
$0.00
24610 Accrued Salaries and Wages
$0.00
$0.00
$29,036.76
$29,036.76
$256.52
$256.52
24710-3 Payroll 401(a) and 457(b) Withholding
24710-4 Payroll FSA Withholding
24710-5 Payroll United Way Withholding
($299.68)
($299.68)
$328.00
$328.00
($452,716.04)
($452,716.04)
($16,691.88)
($16,691.88)
$0.00
$0.00
24810 Deferred Revenue - Rent
$0.00
$0.00
$0.00
$0.00
$0.00
24810-6 Deferred Revenue - Homeless Asst.
Net cash provided by operating activities
$47,985.18
($31,997.01)
$0.00
($7,162.39)
$0.00
($131,501.59)
Investing Activities
12110 Land
$120,894.34
$120,894.34
$426,700.00
$426,700.00
($52,538.12)
($52,538.12)
Net cash provided by Investing Activities
($394,747.35)
($394,747.35)
$100,308.87
$0.00
$0.00
$0.00
$0.00
$100,308.87
Financing Activities
25900 Notes Payable
$0.00
$0.00
25210-1 MRRA Vehicle Loan
$0.00
$0.00
25310 Capital Lease Photocopier
$0.00
$0.00
37141 Designated Fund Bal. - MRRA Capital Reserve
$0.00
$0.00
37142 Designated Fund Bal. - Bruns. Exec Airport Capital Reserve
$0.00
$0.00
37143 Designated Fund Bal. - Lease Hold Improvement Fund
$0.00
$0.00
37144 Designated Fund Bal. - Reserve of Sale Rev. for Annuitization
$0.00
$0.00
37145 Designated Fund Bal. - Special Project Capital Reserve
$0.00
$0.00
37300 Retained Earnings
Net cash provided by financing activities
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Page 10 of 42
74
Midcoast Regional
Redevelopment
Authority
Brunswick Landing
MHC USA, LLC
Brunswick Landing
Economic
Development
Corporation
Brunswick Landing
Realty Development
Corporation
Midcoast
Charitable
Foundation of
Maine
Total
$148,294.05
($31,997.01)
$0.00
($6,550.13)
$0.00
$109,746.91
$5,188,852.43
$217,107.67
$2,500.00
$5,337,146.48
$185,110.66
$2,500.00
$90,131.37
$83,581.24
$2,500.00
$2,500.00
$5,501,091.47
$5,610,838.38
Page 11 of 42
75
Summary Budget
Revenue/ Expenses
Closed Out Accounts
FY 2016 Water Budget
FY 2016 Sewer and Stormwater Budget
Grants Fund CIP Budget
Homeless Assistance
Reserves
Budget
Received as of September
30, 2015
Expended as of
September 30, 2015
Balance
$18,253,798
$21,448,561.29
$23,172,390.43
($1,723,829.14)
$597,700
$925,000
$640,800
$1,555,200
$44,100
$79,400
$19,616,383
$686,605
$0
$42,398,986
$234,369.37
$221,482.77
$101,315.00
$224,793.41
$7,091.49
$5,840.02
$9,518,186.13
$309,068.00
$49,722.60
$10,671,868.79
$185,832.64
$327,104.10
$156,071.71
$388,637.86
$149.00
$56,901.37
$11,050,301.68
$308,013.86
($5,313,718.04)
$7,159,294.18
$48,536.73
($105,621.33)
($54,756.71)
($163,844.45)
$6,942.49
($51,061.35)
($1,532,115.55)
$1,054.14
$5,363,440.64
$3,512,574.61
$32,120,430.08
$30,331,684.61
$1,788,745.47
Totals
Budget Report Balance
$1,788,745.47
Register Balance
$5,337,146.48
Balance Sheet Reserves
Accounts Payable
Accounts Receivable
Accounts Receivable EDA/MTI
Accrued Compensated Absences
Accrued Expenses
Accrued Payroll & Payroll Liabilities
Brunswick Landing MHC - Reserve
Construction Retainage
Credit Card Payable
Deferred Rent
Deferred Revenue
Deferred Compenstation Holdings
FSA Balance / 401(a) & 457(b) and child support withheld
Growth Fund Loan Receivable - SaviLinx
Line of Credit - DOT
MRDA - Loan Payable - SaviLinx
Line of Credit - Note Payable
Pay off Notes Payable Navy
Pre-paid Expenses
Property Tax Holding Account
Property Taxes Payable
Residential Security Deposit
Sales Tax Payable
Security Deposit
Security Deposits Held
Allowance for Uncollectable Lease Receivables
Allowance for Uncollectable Loans
Undeposited Funds
United Way Balance
Audit Adjustment to Retained Earnings
Audit Adjustment to Retained Earnings
Cash Balance
$2,691,172.87
($1,692,860.61)
$0.00
$0.00
$4,000.00
$0.00
$963,940.88
$0.00
$4,153.82
$7,291.65
$250,417.56
$256.52
($176.34)
$0.00
$1,078,328.93
$234,700.65
$0.00
($11,818.51)
$0.00
$0.00
($668,474.40)
$0.00
$0.00
($386.63)
($100,664.00)
$117,629.14
$275,608.02
$395,280.45
$0.00
$0.00
$1.00
$0.01
$3,548,401.01
$1,788,745.47
Page 12 of 42
76
MRRA FY 2016 Operating Budget
FY 2016 MRRA
Operating
Budget
Expended/
Received as of
September 30,
2015
Percent
Revenue
40303-2 Charge for Services (CAM charge)
40280 Intergovernmental Revenue (JTIF)
40405 Special Service Assessments
40411 Lease Revenue
40420 Donations from Private Sources
40431 - Sale of Property Income (Midcoast Affordable Housing)
40450 Miscellaneous Income
40600 Interest Income - Savi Loan
$52,600
$42,000
$39,800
$138,900
$0
$261,800
$12,600
$0
$0.00
$53,022.27
$705.81
$39,357.50
$0.00
$86,882.50
$45,851.73
$1.97
0.0%
126.2%
1.8%
28.3%
0.0%
33.2%
363.9%
0.0%
Revenue
$547,700
$225,821.78
41.2%
$50,000
$50,000
$8,547.59
$8,547.59
17.1%
17.1%
Total Revenue
$597,700
$234,369.37
39.2%
Expenses
50100 · Personnel Services
50102 Salaries
50103 - Wages
50130 Temporary Wages
Performance Reserve
Total 50100 · Personnel Services
$49,000
$32,800
$30,000
$20,000
$131,800
$12,428.36
$8,326.88
$15,011.25
$0.00
$35,766.49
25.4%
25.4%
50.0%
0.0%
27.1%
50200 · Employee Benefits
50201 · Unemployment Compensation
50202 · Workers' Compensation Insurance
50211 · Deferred Compensation
50230 · FICA Taxes
50260 · Other Employee Benefits
Total 50200 · Employee Benefits
$1,900
$2,500
$8,100
$10,100
$29,000
$51,600
$0.00
$415.58
$1,660.46
$2,786.58
$10,837.39
$15,700.01
0.0%
16.6%
20.5%
27.6%
37.4%
30.4%
50300 · Supplies
50301 · Office Supplies
50305 · Books and Periodicals
50306 · Postage
50307 · Photocopier
50340 - Heating Fuel
50371 · Gasoline & Oil
50380 - Uniform and Personal Safety Equipment
Total 50300 · Supplies
$6,000
$400
$3,100
$5,400
$24,600
$5,800
$700
$46,000
$897.49
$311.86
$237.07
$2,809.30
$1,009.40
$952.20
$216.57
$6,433.89
15.0%
78.0%
7.6%
52.0%
4.1%
16.4%
30.9%
14.0%
50400 · Professional Services
50401 · Employee Training
50402 - Dues and Memberships
50412 - Board Expenses
50413 - Executive Director Meeting Expenses
50414 - Annual Dinner
50420 - Computer Services
50420 - Permits & Fees
50450 Legal Services
$6,000
$16,000
$7,500
$3,200
$8,900
$28,900
$1,000
$50,000
$0.00
$508.96
$2,313.58
$1,007.82
$500.00
$9,950.00
$1,967.00
$4,052.71
0.0%
3.2%
30.8%
31.5%
5.6%
34.4%
196.7%
8.1%
Other Revenue
41510 - Interest Earned
Other Revenue
Page 13 of 42
77
FY 2016 MRRA
Operating
Budget
Expended/
Received as of
September 30,
2015
Percent
50451 · Other Professional Services
50451-3 Banking Services
50451-4 Payroll and Tax Preparation Services
50451-c Environmental Consultant
50451-e Business Attraction
50451-i Engineering Services
50451-j Accounting Services
50451-s Appraisals
50452 Audit Services
Total 50400 · Professional Services
$2,500
$2,600
$4,000
$75,000
$50,000
$16,100
$2,300
$17,000
$291,000
$1,511.84
$394.80
$0.00
$26,277.29
$11,098.14
$2,925.00
$2,500.00
$0.00
$65,007.14
60.5%
15.2%
0.0%
35.0%
22.2%
18.2%
108.7%
0.0%
22.3%
50500 · Property Services
50501 - Vehicle Maintenance
50510 - Electricity
50511 - Water & Sewer
50512 - Telephone
50531 - Rental Expenses
50541 - Equipment Maintenance
50551 - Waste Collection
50556 - Snow Removal
50560 - Pavement & Markings
50565 - Vegetation Maintenance
50570 - Security Maintenance
50580 - Building Repairs/Maintenance
Total 50500 · Property Services
$6,600
$0
$0
$14,900
$9,000
$10,000
$5,000
$130,000
$15,000
$4,200
$4,300
$135,000
$334,000
$644.12
$0.00
$0.00
$2,592.77
$1,496.83
$7,920.37
$0.00
$0.00
$6,578.30
$8,478.01
$1,682.67
$41,964.76
$71,357.83
9.8%
0.0%
0.0%
17.4%
16.6%
79.2%
0.0%
0.0%
43.9%
201.9%
39.1%
31.1%
21.4%
$6,300
$11,600
$11,200
$14,000
$3,400
$2,500
$10,000
$59,000
$2,010.25
$1,760.35
$11,195.50
$2,133.63
$1,685.22
$83.58
$5.20
$18,873.73
31.9%
15.2%
100.0%
15.2%
49.6%
3.3%
0.1%
32.0%
$0
$0
$0
$0
$0
$0.00
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
0.0%
50600 · Other Purchased Services
50601 · Liability Insurance
50603 · Automobile Insurance
50602 - Building Insurance
50610 · Travel
50620 · Advertising
50621 · Printing
50699 · Contingency
Total 50600 · Other Purchased Services
50700 · Capital Outlay
50702 Capital Outlay - Streets & Sidewalks
50705 Capital Outlay - Buildings
50740 · Capital Outlay - Tech. Hardware
50741 · Capital Outlay - Tech. Software
Total 50700 · Capital Outlay
50800 · Debt Service
50801 · Reduction of Principal - Vehicles
50805 · Interest Expense - MRDA Loan
50810 - Amortization - Navy Covenant Agreement Payment
50850 - Contribution to Reserve for Uncollectable Leases
50851 - Contribution to Reserve for Uncollectable Loans
Total 50800 · Debt Service
$0
$4,400
$101,200
$8,300
$10,000
$123,900
Total Expenditures
$1,037,300
$0.00
$3,001.18
$0.00
$16,804.71
($5,934.30)
$13,871.59
$227,010.68
0.0%
68.2%
0.0%
202.5%
-59.3%
11.2%
21.9%
Page 14 of 42
78
50900 · Transfers
50999 - Expenses (charged to other entities)
50900-1 Transfer to/from Capital Improvement Sinking Fund
50900-1 Transfer to/from Capital Improvement Sinking Fund
50900-2 Transfer to/from OEA Grant Budget and MRRA Operating Budget
50900-3 Transfer to/from Electric Utility and MRRA Operating Budget
50900-3 Transfer to/from Electric Utility and MRRA Operating Budget
50900-4 Transfer to/from Water Utility and MRRA Operating Budget
50900-5 Transfer to/from Stormwater and Sewer Utility and MRRA Oper. Budget
50900-8 Transfer to/from MRRA Operating Budget and Bruns. Exec. Airport
50900-d Transfer to/from Subsidiary
50900-e Transfer to/from sale of Property to MRRA (Annuitization transfer from sales)
50900-h Transfer to/from Electric Utility for services provided to MRRA
50900-j Transfer to/from Water Utility for services provided to MRRA
50900-l Transfer to/from Sewer/Stormwater Utility for services provided to MRRA
50900-t Transfers to/from MRRA and Brunswick Landing MHC, USA LLC
50901-1 Transfer to/from MRRA and Brunswick Realty Development Corporation
Total 50800 · Transfers Out
Total Expenditures and Transfers
Gross Net
FY 2016 MRRA
Operating
Budget
Expended/
Received as of
September 30,
2015
Percent
$0
$40,100
$0
$654,700
($115,900)
($22,900)
$164,200
($22,900)
$460,700
($22,900)
($80,500)
$131,200
($69,600)
$5,000
($1,661,900)
$12,200
$400
$500
($195,000)
$283,000
($439,600)
$2,341.09
$9,900.00
$0.00
$168,600.00
($19,200.00)
($5,700.00)
$40,800.00
($5,700.00)
$38,400.00
($5,700.00)
($20,100.00)
$32,700.00
($17,400.00)
$3,579.53
($415,500.00)
$0.00
$0.00
$0.00
$0.00
$151,801.34
($41,178.04)
0.0%
24.7%
0.0%
25.8%
16.6%
24.9%
24.8%
24.9%
8.3%
24.9%
25.0%
24.9%
25.0%
71.6%
25.0%
0.0%
0.0%
0.0%
0.0%
53.6%
9.4%
$597,700
$185,832.64
31.1%
$0
$48,536.73
Page 15 of 42
79
Revenue
40250 - Local Tax Base Sharing TIF Agreement
40411-1 Lease Revenue
40411-2 Transient Aircraft Fees and Fuel Flowage
40411-3 Venue Fee Revenue
40450 - Miscellaneous Revenue
Total Revenue
Expenses
50102 · Salaries
50103 - Wages
50130 - Temporary Help
50230 · FICA Taxes
50300 · Supplies
50301 · Office Supplies
50305 · Books and Periodicals
50306 · Postage
50307 · Photocopier
50310 - Sand and Chemicals
50320 - Cleaning Supplies
50340 · Heating Fuel
50371 · Gasoline & Oil
50380 - Uniforms & Personal Safety Equipment
Total 50300 · Supplies
50401 · Employee Training
50402 · Dues and Memberships
50420 - Computer Services
50430 - Permits and Fees
50450 · Legal Services
50451-j Engineering Services
50452 · Audit Services
Total 50400 · Professional Services
FY 2016 Budget
Expended/ Received
as of September 30,
2015
Percent
$25,500
$62,000
$763,400
$72,000
$0
$2,100
$925,000
$0.00
$3,201.69
$173,075.35
$21,953.68
$0.00
$23,252.05
$221,482.77
0.0%
5.2%
22.7%
30.5%
0.0%
1107.2%
23.9%
$0
$0
$26,000
$26,000
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
$1,400
$2,000
$0
$2,000
$0
$5,400
$0.00
$181.82
$0.00
$46.69
$0.00
$228.51
0.0%
9.1%
0.0%
2.3%
0.0%
4.2%
$2,500
$200
$700
$400
$3,000
$300
$267,000
$32,000
$900
$307,000
$386.43
$0.00
$282.89
$0.00
$0.00
$0.00
$11,349.93
$3,891.37
$10.99
$15,921.61
15.5%
0.0%
40.4%
0.0%
0.0%
0.0%
4.3%
12.2%
1.2%
5.2%
$2,100
$1,800
$1,900
$2,300
$25,000
$2,000
$7,300
$42,400
$575.00
$975.00
$0.00
$314.00
$0.00
$0.00
$0.00
$1,864.00
27.4%
54.2%
0.0%
13.7%
0.0%
0.0%
0.0%
4.4%
Page 16 of 42
80
50501 - Vehicle Maintenance
50510 · Electricity
50511· Water and Sewer
50512 · Telephone
50531 · Rental Expenses
50551 · Waste Collection
50556 - Snow Removal
50560 - Pavement and Markings
50565 - Vegetation Maintenance
50570 - Security Maintenance
50575 - Navigation Aid Maintenance and Service
50580 - Building Maintenance
50581 - Local Match MAP projects
50600 · Other Purchased Services
50601 · Liability Insurance
50602 - Building Insurance
50603 · Automobile Insurance
50610 · Travel
50620 · Advertising
50621 · Printing
50699 · Contingency
Total 50600 · Other Purchased Services
50700 Capital Outlay
50730 Capital Outlay - Equipment and Furniture
50740 Capital Outlay - Tech Hardware
50741 Capital Outlay - Tech Software
50774 SaviLinx - Building 250 Improvements
50800 · Debt Service
50850 - Contribution to Reserve for Uncollectables Leases
50851 - Contribution to Reserve for Uncollectables Loans
Total Expenditures
50900 Transfers Out
50999 - Expenses (charged to other entities)
50900-8 Transfer to/from MRRA Operating Budget and Bruns.. Exec. Airport
50900-i Transfer to/from Electric Utility for services provided to BXM
50900-k Transfer to/from Water Utility for services provided to BXM
50900-m Transfer to/from Sewer/Stormwater Utility for services provided to BXM
50900-p Transfer to/from BXM and Capital Improvement Sinking Fund
50900-p Transfer to/from BXM and Capital Improvement Sinking Fund
50900-aa Transfer to/from BXM and Brunswick Landing Realty Development Corporation (snow removal)
50900-aa Transfer to/from BXM and Brunswick Landing Realty Development Corporation (insurance)
50900-aa Transfer to/from BXM and Brunswick Landing Realty Development Corporation (heat)
50900-aa Transfer to/from BXM and Brunswick Landing Realty Development Corporation (building repair)
FY 2016 Budget
Expended/ Received
as of September 30,
2015
Percent
$9,500
$0
$0
$6,000
$22,000
$40,800
$7,000
$33,500
$8,000
$1,500
$7,500
$29,800
$260,000
$173,400
$599,000
$17.65
$0.00
$0.00
$1,297.35
$0.00
$2,843.35
$1,226.86
$150.00
$37.90
$7,284.00
$804.53
$19,289.43
$46,899.12
$81,695.37
$161,545.56
0.2%
0.0%
0.0%
21.6%
0.0%
7.0%
17.5%
0.4%
0.5%
485.6%
10.7%
64.7%
18.0%
47.1%
27.0%
$4,000
$36,600
$10,700
$3,900
$1,300
$500
$0
$57,000
$0.00
$41,527.23
$2,301.85
$316.25
$844.58
$122.23
$0.00
$45,112.14
0.0%
113.5%
21.5%
8.1%
65.0%
0.0%
0.0%
79.1%
$0
$0
$0
$0
$0
$0.00
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
0.0%
$45,800
$0
$45,800
$96,784.83
$847.45
$97,632
211.3%
0.0%
0.0%
$1,082,600
$322,304.10
29.8%
$0.00
$20,100.00
($32,700.00)
$17,400.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$4,800.00
0.0%
25.0%
24.9%
25.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
7.5%
$327,104.10
28.5%
($105,621.33)
47.6%
$0
$80,500
($131,200)
$69,600
$88,200
$300
$500
$76,300
$0
($4,700)
($5,400)
($110,000)
$0
$64,100
$1,146,700
Net
($221,700)
Page 17 of 42
81
FY 2016
OEA Grant Budget
FY 2015 Budget
Expended/
Received as of
September 30,
2015
Percent
Revenue
Office of Economic Adjustment - DoD
Total Revenue
$640,800
$640,800
$101,315.00
$101,315.00
15.8%
15.8%
Expenses
50102 · Salaries
50103 · Wages
50150 · Overtime Wages
$807,300
$109,500
$0
$916,800
$215,776.08
$27,540.66
$0.00
$243,316.74
26.7%
25.2%
0.0%
26.5%
$4,000
$6,300
$73,300
$70,100
$145,000
$298,700
$0.00
$701.29
$19,722.22
$17,726.77
$43,204.69
$81,354.97
0.0%
11.1%
26.9%
25.3%
29.8%
27.2%
$80,000
$80,000
$0.00
$0.00
0.0%
0.0%
$1,295,500
$324,671.71
25.1%
($654,700)
($654,700)
($168,600.00)
($168,600.00)
25.8%
25.8%
$640,800
$156,071.71
24.4%
50230 · FICA Taxes
50451-ee Water Study
Total 50400 Professional Services
Total Expense
50900 · Transfers
50900-2 Transfer to/from OEA Grant Budget and MRRA Operating Budget
Total Expense and Transfers
Net
$0
($54,756.71)
($53,154.59)
($1,602.12)
Page 18 of 42
82
FY 2016 Budget
Expended/ Received
as of September 30,
2015
Percent
Revenue
40405-1 Service Extension Revenue
Total Revenue
$1,555,200
$0
$1,555,200
$224,793.41
$0.00
$224,793.41
14.5%
0.0%
14.5%
Expenses
50510-1 - Electrical Energy and Transmission Charges
50540 - Infrastructure Maintenance
50540-1 Infrastructure - New Service Extension
$1,378,700
$150,000
$0
$1,528,700
$327,277.60
$34,412.76
$2,047.50
$363,737.86
23.7%
22.9%
0.0%
23.8%
$0
$0
$0
$0
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
$1,528,700
$363,737.86
23.8%
$19,200.00
$5,700.00
$0.00
$0.00
$0.00
$24,900.00
16.6%
24.9%
0.0%
0.0%
0.0%
94.0%
$388,637.86
25.0%
50730 - Equipment
50740 · Capital Outlay - Tech. Hardware
50741 · Capital Outlay - Tech. Software
Total Expenditures
50900 Transfers Out
50900-3 Transfer to/from MRRA Operating and Electric Utility
50900-3 Transfer to/from MRRA Operating and Electric Utility
50900-h Transfer to/from Electric Utility for services provided to MRRA
50900-i Transfer to/from Electric Utility for services provided to BXM
50900-cc Transfer to/from Electric Utility and Brunswick Landing Realty
$115,900
$22,900
($12,200)
($88,200)
($11,900)
$26,500
$1,555,200
Net
$0
($163,844.45)
Page 19 of 42
83
FY 2016 Water Utility
Revenue
40450 Miscellaneous Revenue
Total Revenue
Expenses
50511 - Water Service - Brunswick Topsham Water District
50540 - Infrastructure Maintenance (replace 732 feet @ $100 ft.)
Total Expenses
50900 · Transfers
50900-j Transfer to/from Water Utility for services provided to MRRA
50900-k Transfer to/from Water Utility for services provided to BXM
50900-bb Transfer to/from Water and Brunswick Landing Realty
Net
FY 2016
Budget
Expended/
Received as of
September 30,
2015
Percent
$44,100
$0
$44,100
$7,091.49
$0.00
$7,091.49
16.1%
0.0%
16.1%
$174,600
$15,000
$189,600
$29,214.36
$6,034.64
$35,249.00
16.7%
40.2%
18.6%
($164,200)
$22,900
($400)
($300)
($3,500)
($145,500)
($40,800.00)
$5,700.00
$0.00
$0.00
$0.00
($35,100.00)
24.8%
24.9%
0.0%
0.0%
0.0%
24.1%
$44,100
$149.00
0.3%
$0
$6,942.49
0.0%
Page 20 of 42
84
FY 2016 Stormwater and Sanitary Utility Budget
FY 2016
Expended/ Received
as of September 30,
2015
Percent
$0
$79,400
$0
$79,400
$0.00
$5,840.02
$0.00
$5,840.02
0.0%
7.4%
0.0%
7.4%
Expenses
50511 - Sewer Service - Brunswick Sewer District and Topsham Sewer District
50540 - Infrastructure Maintenance
$496,700
$25,000
$521,700
$61,923.01
$27,678.36
$89,601.37
12.5%
110.7%
17.2%
Total Expenditures
$521,700
$89,601.37
17.2%
$0
($460,700)
$22,900
($500)
($500)
($3,500)
($442,300)
$0.00
($38,400.00)
$5,700.00
$0.00
$0.00
$0.00
($32,700.00)
0.0%
8.3%
24.9%
0.0%
0.0%
0.0%
7.4%
$79,400
$56,901.37
71.7%
Revenue
40250 Local Tax Base Sharing Agreement TIF
Total Revenue
50900 · Transfers
50901-7 Transfer Capital Reserves MRRA & Stormwater/Sanitary Sewer
50900-l Transfer to/from Sewer/Stormwater Utility for services provided to MRRA
50900-m Transfer to/from Sewer/Stormwater Utility for services provided to BXM
50900 Transfer to/form Sewer and Brunswick Landing Realty for Services Provided
Net
$0
($51,061.35)
Page 21 of 42
85
Brunswick Landing Realty Development Corporation
Tech Place
FY 2016 Budget
FY 2016 Expended/ Received
Budget as of September 30,
2015
Revenues
40411 Lease Revenue
Total Revenues
Percent
$121,000
$121,000
$39,972.68
$39,972.68
33.0%
33.0%
Expenditures
Supplies
50301 Office Supplies
50305 Books and Periodicals
50306 Postage
50307 - Photocopier
50340 - Heating Fuel
Total Supplies
$1,400
$400
$600
$1,600
$0
$4,000
$485.80
$0.00
$0.00
$372.06
$0.00
$857.86
34.7%
0.0%
0.0%
23.3%
0.0%
21.4%
50401 Employee Training
50420 Computer Services
50450 Legal Fees
50451-3 Bank Charges
50451-i Engineering Services
50451-e Busness Attraction
50452 - Audit
Total Professional Services
$2,500
$2,000
$4,000
$500
$15,000
$5,000
$2,500
$31,500
$1,258.00
$0.00
$0.00
$30.00
$0.00
$1,454.48
$0.00
$2,742.48
50.3%
0.0%
0.0%
6.0%
0.0%
29.1%
0.0%
8.7%
$0
$0
$1,500
$1,300
$18,000
$25,000
$0
$60,000
$105,800
$0.00
$0.00
($55.23)
$0.00
$648.23
$0.00
$0.00
$21,751.39
$22,344.39
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
36.3%
21.1%
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
Property Services
50510 Electricity
50511 Water and Sewer
50512 Telephone
50531 Rental Expense
50540 - Cleaning Services
50531 Snow Removal
50580 Building Repairs
Total Property Services
50800 · Debt Service and Expense for Uncollectible
50850 - Expense for Uncollectable Leases
50851 - Expense for Uncollectable loans
$7,300
$0
$7,300
50601 Liability Insurance
50602 Building Insurance
50610 Travel
50699 Contingency
$10,500
$0
$5,000
$5,000
$20,500
$10,431.00
$0.00
$787.48
$0.00
$11,218.48
99.3%
0.0%
15.7%
0.0%
54.7%
50740 - Capital Outlay Equipment
$28,000
$28,000
$5,550.00
$5,550.00
0.0%
0.0%
Income Taxes
50910 Federal Income Taxes
50920 State Income Taxes
50931 Property Taxes
Total Income Taxes
$30,600
$14,000
$23,300
$67,900
$0.00
$0.00
$90.75
$90.75
0.0%
0.0%
0.4%
0.1%
$265,000
$42,803.96
16.2%
Total Expenditures
Page 22 of 42
86
Tech Place
FY 2016 Budget
FY 2016 Expended/ Received
Budget as of September 30,
2015
Transfers
Transfer In/From MRRA and Brunswick Landing Realty
Transfer To/From Brunswick Landing Realty to BXM (repairs)
Transfer To/From Brunswick Landing Realty to BXM (heat)
Transfer To/From Brunswick Landing Realty to BXM (insurance)
Transfer To/From Brunswick Landing Realty to BXM (snow removal)
Transfer To/From Brunswick Landing Realty and Electricity
Transfer To/From Brunswick Landing Realty and Water
Transfer To/From Brunswick Landing Realty and Sewer
Total Transfers
Adjusted Total Expenditures
Net
Percent
($283,000)
$0
$110,000
$5,400
$4,700
$11,900
$3,500
$3,500
($144,000)
($150,000.00)
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
($150,000.00)
53.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
104.2%
$121,000
($107,196.04)
-88.6%
$0
$147,168.72
Page 23 of 42
87
Grants Fund Budget
Revenue
40220-2 Maine Technology Institute (TechPlace Grant)
40220-8 Maine DOT FAA Project State Share
40220-9 MaineDECD TechPlace Grant
40220-a State of Maine MITC Grant
40220-b State of Maine Risk Management Grant
40280-5 Brunswick Development Corporation Tech Place Grant
40200-8 EDA Economic Development Infrastructure Grant
EDA Tech Place Grant
FAA Military Airport Program (MAP) AIP 3-23-0056-03-2011
Total Revenue
Expenses
Maine International Trade Center Grant
50451-e Trade Shows and Conferences
50451-l Business and Market Research
50621-a - Printing/Marketing Materials
Maine DOT FAA Projects State Match (50767)
Airfield obstruction removal, electrical construction
projects, repaint airfield markings, snow removal
equipment, install perimeter fencing uplands
Hangar 5 Roof and Fire Protection Improvements
Terminal and SRE Buildings
Snow Removal Equipment Building Design Only
Budget
Expended/ Received
as of September 30,
2015
Percent
$299,040
$846,773
$250,000
$50,000
$30,000
$250,000
$1,700,000
$750,000
$4,609,556
$194,850
$1,183,320
$181,350
$73,800
$182,088
$433,224
$748,818
$150,000
$1,662,930
$1,521,270
$150,000
$1,049,364
$1,600,000
$1,700,000
$463,574.00
$211,563.22
$250,000.00
$0.00
$0.00
$250,000.00
$0.00
$0.00
$4,104,667.69
$174,863.70
$1,100,783.79
$134,311.76
$66,716.87
$163,868.27
$344,341.64
$625,128.61
$125,021.52
$1,372,204.43
$131,140.63
$0.00
$0.00
$0.00
$0.00
155.0%
25.0%
100.0%
0.0%
0.0%
100.0%
0.0%
0.0%
89.0%
89.7%
93.0%
74.1%
90.4%
90.0%
79.5%
83.5%
83.3%
82.5%
8.6%
0.0%
0.0%
0.0%
0.0%
$19,616,383
$9,518,186.13
48.5%
$25,000
$20,000
$5,000
$24,843.46
$20,400.00
$0.00
99.4%
102.0%
0.0%
$846,773
$502,457.54
59.3%
$4,609,556
$4,525,523.65
98.2%
$194,850
$192,660.48
98.9%
$1,183,320
$1,207,148.57
102.0%
$181,350
$178,006.50
98.2%
$73,800
$66,716.88
90.4%
$182,088
$182,075.86
Drainage Repairs Design Only
88
100.0%
Page 24 of 42
Grants Fund Budget
Budget
Expended/ Received
as of September 30,
2015
Percent
Rehabilitate Building 295 - Fire Protection Building
$433,224
$344,340.67
79.5%
Improve Airport drainage
$748,818
$625,128.64
83.5%
$150,000
$131,786.35
87.9%
$1,662,930
$1,535,692.17
92.3%
$1,521,270
$131,140.63
8.6%
$718,000
$702,000
$177,000
$103,000
$1,700,000
$481.48
$307,586.76
$139,508.03
$369,364.59
$816,940.86
0.1%
43.8%
78.8%
358.6%
48.1%
$1,500,000
$1,077,899.38
71.9%
TechPlace Lab (MTI Cluster Grant and MRRA Match)
$598,080
$16,410.00
2.7%
Low Temperature Alarm System (several buildings)
$60,000
$0.00
0.0%
Air Field Pavement and Repair
$150,000
$5,620.04
3.7%
Hangar 6 Door Improvements
$1,049,364
$44,550.00
4.2%
Center Line Light Removal 1R-19L
$1,600,000
$0.00
0.0%
Gycol Recovery Tank Repair and Heating Hangars 4 and 5
$1,700,000
$0.00
0.0%
$11,584,098
57.5%
$11,629,341.68
57.6%
Terminal Roof Replacement
Crack sealing 01R/19L
Rehabilitate Hangars 4 and 5
Construct Snow Removal Equipment Building
EDA Economic Development Infrastructure Grant
Hangar 6 Improvements
Building Demolition
NFPA/Code Compliance Issues
Utility Metering
EDA TechPlace Capital Outlay (50780)
$20,145,423
Total Expenditures
$20,195,423
50900 Transfers
50900-t - Transfers BL MHC & MRRA
50900-y - Transfers Reserves and Grants (TechPlace Phase I)
50900-y - Transfers Reserves and Grants (TechPlace Lab Match MTI)
50901-a Transfers Low Temperature Alarm System
Net
89
$0
($250,000)
($299,040)
($30,000)
($579,040)
$0.00
($250,000.00)
($299,040.00)
($30,000)
($579,040.00)
0.0%
100.0%
100.0%
100.0%
100.0%
$19,616,383
$11,050,301.68
56.3%
$0
($1,532,115.55)
Page 25 of 42
Reserve Account and Property Sale Report
Expended/ Received
as of September 30,
2015
Revenue
Other Miscellaneous Sales
40430 Sale of Assets
40410-1 Growth Fund Loan Interest Income
40600 - Interest Income
Total Revenue
$970.70
$42,374.23
$6,377.67
$49,722.60
Expenditures
50630 - Donations (return investment to Bath, Harp. & Tops.)
50701 - Capital Outlay - Land Acquisition Costs
50705 - Capital Outlay - Buildings (roof 54, paint 555 and Captain's House)
50720 - Capital Outlay - Vehicles
50742 - Capital Outlay - EDA Local Match
50780-1 - Tech Place - Phase 2
50781 - Asbestos Removal Change Order
50782 - Terminal Renovation
50785 - Fence Replacement Bath Road
50774 - SaviLinx Building Improvements
50792 - Burbank Av. Parking Lot Rehab
50801 - Redemption of Principal
50794- Bath Road Signage Project
Expenditure Total
$19,250.00
$3,200,703.00
$175,348.00
$101,681.50
$789,079.40
$360,947.38
$78,631.00
$494,358.96
$91,594.66
$15,243.12
$340,397.15
$3,000,000.00
$123,230.11
$8,790,464.28
Other Expenditures
Transfers Out
50900-0 Great State of Maine Air Show
50900-b Transfers Sale of Property and Water Utility
50900-c Sanitary and Stormwater Utility
50900-e Transfer Sale of Property and MRRA
50900-n Transfer Sale of Property and Brunswick Executive Airport
50900-v Transfers Sale of Property and Electric Utility
50900-y Reserves - Local Match for EDA TechPlace Grant
50900-y Reserves - Local Match for MTI TechPlace Cluster Grant
50901-7 Transfers Capital Reserves MRRA and Stormwater/Sanitary Sewer
50901 -a Transfers Low Termperature Alarm System
Total Transfers Out
$92,000.00
$192,115.78
$520,600.00
$2,762,901.45
$760,404.16
$68,435.00
$250,000.00
$299,040.00
$127,000.00
$30,000.00
$5,102,496.39
Transfers In
50900-1 Transfers in to MRRA Reserve
50900-p Transfers in to BXM Reserve
Total Transfers In
($162,197.00)
($65,096.00)
($227,293.00)
Other Expenditures
$4,875,203.39
Transfers from Sale of Property and Equipment
Land to Affordable Midcoast Housing
BEQ Phase I to Affordable Midcoast Housing
Building 24 and 592 to Tom Wright
BEQ Phase II to Affordable Midcoast Housing
Buildings 31 and 583 to Priority Group
Land to Precast Concrete (Topsham)
paid in 2016)
at Closing)
Former Navy Gateway Inn (building 750) to Affordable Midcoast Housing
Lots 28, 33, 34 and 8.44 acres adjacent to Lot 28 to Affordable Midcoast Housing
acres to Affordable Midcoast Housing FY 2015
Additional Revenue on Sale of Hotel FY 2015
Sale of Lot 31 (1.42 acres) to Priority Group FY 2015
Sale of Night Flight (Building 516) to Affordable Midcoast Housing FY 2015
Sale of Lot 7D FY 2015
Sale of SERE School (Building 54) and Marine Ctr. (639) to the Cardentes FY 2015
Sale of buildings 904 and 905 to AMH FY 2015
Sale of Lot 24 (2 acres) to the Priority Group on March 20, 2015
Sale of Lot 2 (0.75 acres) and Fire Station in Tosham to Fire House Realty June 4, 2015
($2,374,982.00)
($1,040,096.00)
($479,500.00)
($1,561,644.00)
($1,100,000.00)
($11,000.00)
($127,500.00)
($165,000.00)
($3,397,174.00)
($264,500.00)
($5,100,000.00)
($75,000.00)
($70,500.00)
($200,000.00)
($14,474.00)
($1,387,579.22)
($430,000.00)
($80,000.00)
($150,000.00)
Page 26 of 42
90
Reserve Account and Property Sale Report
Expended/ Received
as of September 30,
2015
Revenue
Sale of 93 and 97 Admiral Fitch Avenue on August 27, 2015
Sale of Buildings 25 (gymnasium) and 23 (car wash, now post office) to TBW on
September 25, 2015.
Total Land Sales
Other Sales of Recorded Assets
Sale of Equipment
Sale of Equipment
($123,500.00)
($549,000.00)
($18,701,449.22)
($205,759.59)
($72,176.90)
$0.00
($18,979,385.71)
($5,313,718.04)
Total Transfers from Sale of Property and Equipment
Net
$5,363,440.64
$5,384,975.10
Page 27 of 42
91
Homeless Assistance Trust Fund
July 1, 2011 to June 30, 2016
Budget
Expended/ Received as
of September 30, 2015
Percent
$686,605
$308,013.86
44.9%
$0
$1,054.14
na
$686,605
$309,068.00
45.0%
$686,605
$308,013.86
44.9%
$686,605
$308,013.86
44.9%
$0
$1,054.14
Revenue
40252-0 Homeless Assistance Contributions
40450 - Miscellaneous (Interest Income)
Total Revenue
Expenses
50630 · Donations
Total Expenses
Net
Page 28 of 42
92
Brunswick Landing MHC USA, LLC
FY 2016 Budget Report
FY 2016 Budget
Percent
$1,169,600
$1,169,600
$292,422.45
$292,422.45
25.0%
25.0%
$0
$1,200
$0
$2,400
$3,600
$0.00
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
0.0%
$10,000
$10,000
$5,500.00
$5,500.00
55.0%
55.0%
Debt Service
50801 Principal Reduction
50805 Interest Expense
$0
$610,300
$0.00
$103,368.80
0.0%
16.9%
Total Debt Service
$610,300
$103,368.80
16.9%
Depreciation Expense
$527,200
$131,798.04
25.0%
$1,151,100
$240,666.84
20.9%
$18,500
$51,755.61
279.8%
$195,000
$348,500
$0
$543,500
$48,750.00
$87,110.28
$0.00
$135,860.28
25.0%
25.0%
0.0%
25.0%
Net Other Income
($543,500)
($135,860)
25.0%
Net Income
($525,000)
($84,104.67)
16.0%
$47,693.37
($219,686.16)
2167.9%
Revenue
40411 Lease Revenue
Total Revenue
Expenses
50450 Legal & Professional Fees
50451-3 Bank Charges
50451-v Economic Development
50452 Audit Fees
50601 Insurance
Total Expenses
Other Expenses - Transfers
50900-d Transfer to/from MRRA and Subsidiary
50900-v Transfer to/from BL MHC and MRRA
Reconciliation Discrepancies
Total Other Expenses - Transfers
Net Income without Depreciation Expense
$2,200
($84,104.67)
$0.00
Page 29 of 42
93
Brunswick Landing Economic Development Company
Revenue
Total Revenue
$0.00
$0.00
Expenses
50450 Legal Services
Total Expenses
$0.00
$0.00
$0.00
$0.00
$0.00
Other Expenses
50900 Transfers in/to MRRA
$0.00
$0.00
Net Income
$0.00
Page 30 of 42
94
Midcoast Charitable Foundation of Maine
Revenue
40420 Donations
40450 Miscellaneous Revenues
Total Revenue
$0.00
$0.00
$0.00
Gross Profit
$0.00
Expenses
Supplies & Materials
50306 Postage
Total Supplies & Materials
$0.00
$0.00
50430 - Permits & Fees
50451-1 Banking Services
$60.00
$0.00
$0.00
$60.00
50601 Insurance
50621 Printing
50630 Donations
Total Other Purchased Services
$1,603.00
$0.00
$0.00
$1,603.00
Total Expenses
$1,663.00
Other Expenses - Transfers
50900 Transfers MRRA and Midcoast Charitable Foundation
($3,579.53)
Total Other Expenses - Transfers
($3,579.53)
($1,916.53)
Net Income
$1,916.53
$1,916.53
Page 31 of 42
95
Balance Sheet
September 30, 2015
Assets
Current Assets
Bank Accounts
Bath Savings Institution Check. - 8906
Great State of ME Air Show Savings Closed
Homeless Assistance Trust Fund -1352
Bath Savings - Payroll - 3166
Androscoggin Savings Bank - 7556
Androscoggin Savings Bank Sweep - 1420
Residential Security Deposits
Bangor Savings - Restricted 2374
Bangor Savings - Project Operating 2366
Mechanic Savings Bank - 10472
Mechanic Savings Bank
Total Bank Accounts
$459,134.30
$0.00
$268,818.78
$21,339.65
$18,174.08
$0.00
$0.00
$965,375.54
$5,834.77
$521,746.70
$3,076,722.66
$5,337,146.48
Accounts Receivable
11510-3 Loan Receivable - J.R Development
11510-4 Loan Receivable - Kestrel Aircraft
11510-5 Loan Receivable - Frosty's Donuts
11510-6 Loan Receivable - Family Focus
11510-7 Loan Receivable - Fire House Realty
11533 Accounts Receivable FAA
$0.00
$31,256.96
$224,841.60
$0.00
$362,277.29
$47,917.17
$33,393.49
$34,791.07
$956,150.47
$0.00
$0.00
$2,232.56
$1,692,860.61
11537 Growth Fund Loan Receivable - Savilinx
11540 - Allowance for Uncollectable Receivables - Leases
11541 - Allowance for Uncollectable Receivables - Loans
Total Other current assets
$0.00
$0.00
($275,608.02)
($395,280.45)
$0.00
$0.00
($670,888.47)
$6,359,118.62
Fixed Assets
12110 Land
12220 A/D on Site Improvements
12410 Machinery & Equipment
12420 A/D - Machinery & Equipment
12510 Furniture and Equipment
12520 A/D Furniture
12610 Vehicles
12620 A/D Vehicles
12810 Infrastructure Electrical
12820 A/D - Electrical Infrastructure
12920 A/D - Water & Sewer Infrastructure
13110 Infrastructure Streets and Roads
13120 A/D - Streets & Roads
Total Fixed Assets
$43,079,627.20
($2,673,468.85)
$53,881,369.92
($5,966,913.43)
$1,433,670.13
($426,991.71)
$35,891.26
($34,087.14)
$90,410.50
($63,017.92)
$2,418,485.37
($229,084.02)
$20,375,698.19
($3,118,651.68)
$441,877.26
$0.00
$5,944,740.41
$115,189,555.49
Other Assets
11910 Security Deposits
Total Other Assets
Total Assets
$100,664.00
$100,664.00
$121,649,338.11
Page 32 of 42
96
Balance Sheet
Liability and Equity
Liabilities
Current Liabilities
Accounts Payable
Credit Cards
Debit Card
Total Credit Cards
$2,691,172.87
$2,691,172.87
$4,153.82
$0.00
$4,153.82
24020 Interfund Accounts Payable
24510 - Line of Credit Loan Payable
24710-3 401(a) and 457(b) Withholding
24710-4 FSA Withholding & Child Support
24710-5 United Way Withholding
24810-4 Deferred Revenue - Rent
24610 - Accrued Payroll
$0.00
($386.63)
$4,000.00
$963,940.88
$0.00
$234,700.65
$0.00
$256.52
($176.34)
$0.00
($668,474.40)
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$7,291.65
$250,417.56
$117,629.14
$0.00
($11,818.51)
$0.00
$897,380.52
$3,592,707.21
24511 Line of Credit - MDOT
25900 Notes Payables
Contributed Capital
Total Liabilities
$1,078,328.93
$0.00
$1,078,328.93
$4,671,036.14
Equity
Fund Balance Designated - MRRA Capital Reserve
Fund Balance Designated - Bruns. Exec Airport Capital Reserve
Fund Balance Designated - Lease Hold Improvement Fund
Fund Balance Designated - Reserve of Sale Revenue for Annuitization
Fund Balance Designated - Special Project Capital Reserve
Retained Earnings
Net Income
Total Equity
$957,618.34
$0.00
$300,000.00
$3,605,571.81
$97,000.00
$113,699,963.35
($1,681,851.53)
$116,978,301.97
$121,649,338.11
$0.00
Page 33 of 42
97
Balance Sheet
September 30, 2015
Assets
Current Assets
Bangor Savings Checking 4020392382
$2,500.00
Androscoggin Savings
$81,081.24
Accounts Receivable
$85,832.66
Undeposited Funds
Prepaid Expenses
$0.00
$1,106.72
$170,520.62
Total Assets
$170,520.62
$170,520.62
Liabilities
Current Liabilities
Security Deposits
Accounts Payable (A/P)
$10,413.00
$118.55
$118.55
$10,531.55
Contributed Capital
Total Liabilities
$680.00
$680.00
$11,211.55
Equity
Retained Earnings
Net Income
Total Equity
$12,140.35
$147,168.72
$159,309.07
$170,520.62
$0.00
Page 34 of 42
98
Brunswick Landing Brunswick Landing MHC USA, LLC
Balance Sheet
September 30, 2015
Assets
Current Assets
Bank Accounts
1390798 Temporary Construction Loan
2341 Bangor Savings Bank Loan Account
Bangor Savings 2358 Checking
Total Bank Accounts
$0.00
$0.00
$185,110.66
$185,110.66
Accounts Receivable/Pre Paid
Accounts Receivable/Pre-paid
Fixed Assets
Buildings
Accumulated Depreciation - Buildings
Construction in Progress
Total Fixed Assets
Total Assets
$2,783.00
$2,783.00
$187,893.66
$15,815,763.59
-$1,186,182.36
$14,629,581.23
$14,817,474.89
Liabilities
Current Liabilities
Accounts Payable
Deferred Revenue
25215 Leverage Loan A and Loan B
26000 Contributed Capital
Total Liabilities
$5,685.00
$97,474.15
$103,159.15
$103,159.15
$14,265,000.00
$1,962.00
$14,266,962.00
$14,370,121.15
Equity
Retained Earnings
Net Income
Total Equity
$531,458.41
-$84,104.67
$447,353.74
$14,817,474.89
Page 35 of 42
99
Balance Sheet
September 30, 2015
Assets
Current Assets
Bank Accounts
Bath Savings 3339556 Checking
Total Bank Accounts
Total Assets
$2,500.00
$2,500.00
$2,500.00
$2,500.00
Accounts Payable
Total Liabilities
$0.00
$0.00
Equity
Contributed Capital
Retained Earnings
Net Income
Total Equity
$467.50
$2,032.50
$0.00
$2,500.00
$2,500.00
$0.00
Page 36 of 42
100
Balance Sheet
September 30, 2015
Assets
Current Assets
Bank Accounts
Bath Savings Checking 3339262
Accounts Receivable
Total Assets
$2,500.00
$0.00
$2,500.00
$2,500.00
Liabilities
Current Liabilities
Accounts Payable
Total Liabilities
$0.00
$0.00
$0.00
Equity
Retained Earnings
Net Income
Total Equity
$583.47
$1,916.53
$2,500.00
$2,500.00
Page 37 of 42
101
Net Income
$332,269.09
Adjustments to reconcile Net Income to Net Cash provided by operations:
$0.00
11410 Intergovermental Receivable
$0.00
($263,069.51)
11510 Loan Receivable JR Development
$0.00
$776.50
11510-4 Loan Receivable Kestrel Aircraft
$0.00
11510-5 Loan Frosty's Donuts
$0.00
11510-5 Loan Family Focus
$613.16
11510-7 Loan Fire House Realty
$70.04
12320 A/D Building & Building Improvements & on Site Improv.
($46,321.76)
$0.00
$0.00
$362.86
$0.00
$0.00
11537 Growth Fund Loan Receivable Savi Linx
$809.45
11540 Allowance for Uncollectable Receivables
$107,429.84
$43,317.32
$318,868.35
Accounts Payable - Credit Card
($10,490.73)
($144.69)
($10,800.00)
$29,036.76
$0.00
24500 MRDA Loan Payable - SaviLinx
$14,381.58
$0.00
24610 Accrued Salaries & Wages
$0.00
24710-3 Payroll Deduct. & Withholdings:401(a) and 457(b) Withholding
$256.52
24710-4 Payroll Deduct. & Withholdings: FSA & Child Support
($299.68)
24710-5 Payroll Deduct. & Withholdings: United Way Withholding
$328.00
($452,716.04)
24810 Deferred Revenue - Rent
$0.00
($16,691.88)
$0.00
$0.00
25510 - Compensated Absences Payable
$0.00
$0.00
$47,985.18
Investing Activities
12110 Land
$120,894.34
12310 Building Improvements
$426,700.00
($394,747.35)
12910 Infrastructure Water & Sewer
($52,538.12)
25900 Notes Payable
$0.00
$100,308.87
$148,294.05
$5,188,852.43
$5,337,146.48
Page 38 of 42
102
Month of
September 2015
Net Income
$612.26
$0.00
24910 - Security Deposits
$0.00
24210 - Accounts Payable
($3,952.64)
11530 - Accounts Receivable
($3,209.75)
($6,550.13)
($6,550.13)
$90,131.37
$83,581.24
$83,581.24
$0.00
Page 39 of 42
103
Brunswick Landing MHC USA, LLC
Month of
September 2015
Net Income
($81,429.69)
12320 - Accumulated Depreciation
$43,932.68
Accounts Payable
$5,500.00
($31,997.01)
($31,997.01)
$217,107.67
$185,110.66
$185,110.66
$0.00
104
Month of
September 2015
Net Income
$0.00
$0.00
$0.00
$0.00
$2,500.00
$2,500.00
Page 41 of 42
105
September
2015
Net Income
Accounts Receivable
Accounts Payable
$0.00
$0.00
$0.00
$0.00
$2,500.00
$2,500.00
$0.00
$2,500.00
$0.00
Page 42 of 42
106
Bank Reconciliation for the Period Ending
September 30, 2015
Bath Savings
Checking
Beginning Balance
Bath Savings
Payroll
Homeless
Assistance Trust
Fund
268,796.69
Androscoggin
Savings Bank
$
1,503,074.05
$
82,342.64
$
$
Checks and Payments
$
(1,803,434.84)
$
(161,002.99)
$
-
$
Deposits and Credits
$
1,169,713.37
$
100,000.00
$
22.09
$
16,400.92
Androscoggin
Savings Bank
Sweep Account
$
-
Mechanic
Savings Bank
Mechanic
Savings Bank
Sweep Account
$ 2,525,130.71
$
$
520,725.02
Bangor
Savings
Molnlycke
Project
Restricted
Account
$
936,243.86
Cleared Transactions
Total Cleared Transactions
Cleared Balance
-
$
(1,796.15)
$
(60.00)
(85.00)
$
-
1,773.16
$
1,796.15
$
551,651.95
$
1,106.68
$
29,131.68
$
(633,721.47)
$
(61,002.99)
$
22.09
$
1,773.16
$
-
$
551,591.95
$
1,021.68
$
29,131.68
$
869,352.58
$
21,339.65
$
268,818.78
$
18,174.08
$
-
$ 3,076,722.66
$
521,746.70
$
965,375.54
$
(410,218.28)
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Uncleared Transactions
Checks and Payments
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Total Uncleared Transactions
$
(410,218.28)
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
459,134.30
$
$
-
$ 3,076,722.66
Register Balance as of 9/30/15
21,339.65
$
268,818.78
$
18,174.08
$
521,746.70
$
965,375.54
Page 1 of 2
107
Bank Reconciliation for the Period Ending
September 30, 2015
Bangor Savings
Molnlycke
Project
Operating
Account
Beginning Balance
Midcoast
Charitable
Foundation of
Maine
$
5,844.96
$
Checks and Payments
$
(29,046.95)
$
$
29,036.76
4,103.00
Brunswick
Landing MHC
USA LLC
Brunswick
Landing Realty
Development
Corporation
$
217,107.67
$
-
$
(80,721.16)
$
$
-
$
97,474.15
$
-
$
16,752.99
$
Brunswick
Landing Realty
Development
Corporation
3,804.68 0 $
Brunswick
Landing
Economic
Development
Company
99,370.48
$
$
(22,054.19)
$
$
16,468.18
$
2,500.00
Total
$
6,185,444.68
-
$
(2,098,201.28)
$
-
$
1,998,174.17
(5,586.01)
$
-
$
Cleared Transactions
Total Cleared Transactions
Cleared Balance
$
$
(10.19)
5,834.77
-
$
4,103.00
$
233,860.66
$
3,804.68
$
93,784.47
$
2,500.00
$
(1,603.00)
$
(48,750.00)
$
(1,304.68)
$
(12,703.23)
$
-
$
(100,027.11)
6,085,417.57
Uncleared Transactions
$
-
$
$
-
$
-
$
-
$
-
Total Uncleared Transactions
$
-
$
(1,603.00)
$
(48,750.00)
$
(1,304.68)
$
$
2,500.00
$
185,110.66
$
2,500.00
$
Checks and Payments
Register Balance as of 9/30/15
$
5,834.77
$
-
(474,579.19)
$
-
$
-
$
-
$
-
$
-
$
-
(12,703.23)
$
-
$
81,081.24
$
2,500.00
$
(474,579.19)
5,610,838.38
Page 2 of 2
108
Transaction Detail by Tenant
September 2015
Date
Transaction Type
Memo/Description
Amount
Affordable Midcoast Housing
09/09/2015
09/30/2015
Payment
Invoice
Androscoggin Savings Bank
09/11/2015
Journal Entry
Reverse of JE 878 - To create an accounts receivable
for an overcharge for a bank fee that they agreed to
reimburse in July 2013
Deposit
Interest Earned
Credit Memo
to write of accounts receivable for annual dinner for
spouse of Commissioner Gervais
09/15/2015
B ... George Gervais
09/11/2015
$17,330.76
$15,997.24
UTILITIES - AUG 2015
$2.06
($50.00)
09/11/2015
Payment
09/30/2015
Deposit
Interest Earned
$94.92
Bath Savings Institution.
09/30/2015
Deposit
Interest Earned
$22.09
Blue Dog Daycare, LLC
09/01/2015
09/10/2015
09/11/2015
09/23/2015
Invoice
Payment
Invoice
Invoice
RENT UTILITIES - AUG 2015
PROPERTY TAXES - JUL/AUG/SEP
$1,596.00
$1,771.10
$147.16
$963.60
Brann & Isaacson
09/01/2015
Sales Receipt
LAND SALE PAYOUT
$7,957.50
$0.00
Bangor Savings
Brunswick Naval Museum & Memorial Gardens
09/01/2015
Payment
09/11/2015
Invoice
$170.08
$170.08
Brunswick Sewer
09/01/2015
09/01/2015
09/09/2015
09/11/2015
09/15/2015
Invoice
Payment
Payment
Invoice
Invoice
RENT -
Canteen Service
09/17/2015
Sales Receipt
7/24 - 8/20
$2,678.00
$362.69
$2,678.00
$372.81
$31.33
INSURANCE -
$39.64
Cardente Real Estate
Page 1 of 31
109
September 2015
Date
09/01/2015
09/11/2015
Transaction Type
Payment
Invoice
Memo/Description
Amount
$3,037.63
$2,318.07
09/17/2015
Sales Receipt
LAND SALE PAYOUT
$5,750.00
09/17/2015
Sales Receipt
DONATION
$100.00
Coastal Journal.
09/11/2015
Credit Memo
to write off receivable from Coastal Journal for lack
of payment for Annual Dinner invoiced on
November 30, 2013
($50.00)
Casco Bay Title
Charles Ault
09/11/2015
Coastal Landing Apartments
09/01/2015
09/11/2015
Payment
$0.00
Payment
Invoice
$3,189.94
$3,947.92
Family Focus
09/09/2015
09/11/2015
09/25/2015
Payment
Invoice
Check
09/01/2015
09/09/2015
09/15/2015
Invoice
Payment
Invoice
RENT PROPERTY TAXES -
$1,061.00
$1,300.75
$239.75
FlightLevel Aviation
09/17/2015
09/17/2015
Sales Receipt
Sales Receipt
FLOWAGE, AUG 2015
REV SHA, AUG 2015
$5,847.84
$5,852.00
Frosty's Donuts LLC
09/01/2015
09/09/2015
09/11/2015
09/17/2015
09/23/2015
Invoice
Payment
Invoice
Payment
Invoice
RENT -
$1,803.00
$1,803.00
$1,359.42
$1,803.00
$759.33
Reimbursement of FY 2015 CAM Charges
$573.07
$569.30
($6.37)
FGS/CMT, Inc.
Page 2 of 31
110
September 2015
Date
Transaction Type
Memo/Description
Amount
09/01/2015
09/15/2015
09/18/2015
09/23/2015
09/23/2015
Invoice
Invoice
Invoice
Credit Memo
Payment
RENT PROPERTY TAXES LATE FEE
$2,518.75
$1,689.44
$764.64
($9.99)
$0.00
09/22/2015
Journal Entry
RENT -
$1,549.00
$309.84
$1,549.00
$254.86
$1,016.97
Harris Golf
Heather Blease
Hoyle Tanner & Associates
09/01/2015
09/01/2015
09/01/2015
09/11/2015
09/23/2015
Invoice
Payment
Payment
Invoice
Invoice
ICL
09/15/2015
Payment
JAMAPORT, LLC
09/01/2015
09/01/2015
09/23/2015
Invoice
Payment
Invoice
RENT -
09/01/2015
09/01/2015
09/11/2015
09/18/2015
Invoice
Invoice
Invoice
Invoice
INSURANCE RENT UTILITIES - AUG 2015
LATE FEE
Kestrel Brunswick
09/18/2015
Invoice
LATE FEE
L ... Family Focus
09/28/2015
Journal Entry
LOAN 006 Payment
L ... Fire House Realty, LLC
09/17/2015
Journal Entry
FHR 007 - 09102015/ Check 112
L ... Kestrel Aircraft Company
09/10/2015
Invoice
INTEREST
L ... SaviLinx, LLC.
09/17/2015
Journal Entry
Check No. 0883
$195.00
$480.00
$480.00
$386.34
$364.98
$14,570.85
$7,564.40
$9,848.93
$1,199.79
$1,904.92
Page 3 of 31
111
September 2015
Date
Transaction Type
Memo/Description
09/01/2015
09/01/2015
Invoice
Payment
RENT -
$5,401.44
$5,401.44
Maine Tool & Machine, LLC
09/01/2015
09/11/2015
09/15/2015
09/18/2015
Invoice
Invoice
Invoice
Invoice
$3,608.00
$1,146.85
$1,462.02
$4,857.41
Molnlycke Health Care
09/01/2015
09/11/2015
09/23/2015
Payment
Invoice
Invoice
Amount
L.L. Bean.
LATE FEE
$34,558.84
$30,556.42
$133,860.32
PROPERTY TAXES - 1/2
MTI.
09/01/2015
09/01/2015
09/09/2015
09/11/2015
09/15/2015
Invoice
Payment
Payment
Invoice
Invoice
RENT -
New England Tent & Awning LLC
09/01/2015
09/01/2015
09/11/2015
09/11/2015
09/15/2015
Invoice
Payment
Invoice
Invoice
Invoice
RENT -
O'Neal Janitorial
09/01/2015
09/01/2015
09/23/2015
Invoice
Payment
Invoice
RENT -
Sales Receipt
LAND SALE PAYOUT
$7,825.00
Oxford Networks
09/11/2015
Invoice
$22,710.00
PC Construction
09/11/2015
Credit Memo
to write off pledge to pay $500 for our Annual
Dinner back in November of 2013
$3,085.45
$535.22
$3,085.45
$357.97
$783.87
PROPERTY TAXES -
$2,104.00
$646.41
$262.60
$442.50
$646.41
O/E REIMBURSEMENT
PROPERTY TAXES -
$318.00
$117.27
$319.05
Old Port Title
09/17/2015
09/11/2015
Phoenix Title Services
09/17/2015
Payment
Sales Receipt
LAND SALE PAYOUT
($500.00)
$0.00
$5,800.00
Page 4 of 31
112
September 2015
Date
Transaction Type
Memo/Description
Amount
Priority Real Estate Group, LLC
09/11/2015
09/14/2015
09/25/2015
Invoice
Invoice
Check
ST LIGHTS - BURBANK AVE - AUG 2015
LATE FEE
$184.70
$98.77
($19.12)
Providence Service Corporation
09/11/2015
Invoice
$2,891.68
09/01/2015
09/11/2015
09/15/2015
09/18/2015
Invoice
Invoice
Invoice
Invoice
PROPERTY TAXES LATE FEE
$5,833.00
$3,703.41
$983.43
$4,330.79
09/01/2015
09/17/2015
09/22/2015
09/22/2015
Invoice
Payment
Payment
Payment
RENT -
SMCC - Southern Maine Community College
09/01/2015
09/11/2015
09/25/2015
09/28/2015
Payment
Invoice
Check
Invoice
Southern Midcoast Maine Chamber.
09/11/2015
Credit Memo
SaviLinx, LLC
Savi Systems
09/11/2015
Southern New Hampshire University
09/11/2015
Payment
Credit Memo
09/11/2015
Payment
Sunray Animal Clinic Inc.
09/01/2015
09/11/2015
Payment
Invoice
T ... Clinton Davies
09/01/2015
09/01/2015
Invoice
Payment
$435.00
$435.00
$0.00
$0.00
Signage Reimbursement
$9,412.50
$9,508.70
($81.12)
$17,750.00
to write off $50 due from Southern Midcoast Maine
Chamber for Steve Wallace attendance at Annual
Dinner back in November 2013
($50.00)
to write off Annual Dinner Ticket for Southern New
Hampshire University Dean for the November 2013
Annual Dinner
($50.00)
$0.00
$0.00
$274.50
$274.45
RENT -
$275.00
$275.00
Page 5 of 31
113
September 2015
Date
Transaction Type
Memo/Description
Amount
09/01/2015
09/09/2015
Invoice
Payment
RENT -
$275.00
$275.00
T ... Donald Godfrey
09/01/2015
09/09/2015
Invoice
Payment
RENT -
$275.00
$275.00
T ... Maine Coastal Flight Center, Inc.
09/01/2015
09/09/2015
09/17/2015
Invoice
Payment
Payment
RENT -
$275.00
$275.00
$275.00
T ... Scott Royal
09/01/2015
09/09/2015
Invoice
Payment
RENT -
$275.00
$275.00
T ... Stephen White
09/01/2015
09/01/2015
Invoice
Payment
RENT -
$275.00
$275.00
T ... Steven Inkellis
09/01/2015
09/09/2015
Invoice
Payment
RENT -
$275.00
$275.00
T ... Walter Smythe
09/01/2015
09/09/2015
Invoice
Payment
RENT -
$275.00
$275.00
09/11/2015
09/17/2015
09/25/2015
Invoice
Payment
Check
Tempus Jet Centers II, LLC.
09/01/2015
09/01/2015
09/10/2015
09/10/2015
09/11/2015
09/18/2015
Invoice
Payment
Invoice
Invoice
Invoice
Invoice
RENT (HNG 5) -
T ... DJ Merrill
TBW, LLC
$1,894.13
$2,039.89
($6.45)
$1,041.67
$30,208.58
$295.54
$15,406.38
$6,053.03
$1,764.67
INSURANCE RENT UTILITIES - AUG 2015
LATE FEE
Page 6 of 31
114
September 2015
Date
The Air Show Network.
09/01/2015
09/01/2015
09/02/2015
09/02/2015
Transaction Type
Memo/Description
Billable Expense
Charge
Billable Expense
Charge
Billable Expense
Charge
Invoice
Chassis and Pump Service, LOF with no markup
$2,606.63
Chassis and Pump service, LOF with no markup
$2,234.89
Diesel, 550 Gal @ $2.0088/per, Air Show Support
Vehicles with no markup
REIMBURSEMENT
$1,410.64
Town Brunswick
09/01/2015
09/11/2015
09/23/2015
09/25/2015
Payment
Invoice
Invoice
Check
Treasurer United States of America
EDA
09/02/2015
Deposit
Amount
deposit of first drawdown on TechPlace Grant on
September 2, 2015
$6,252.16
$2,065.59
$1,814.67
$728.85
($28.32)
$463,574.00
FAA
09/30/2015
Deposit
09/11/2015
09/11/2015
09/22/2015
Invoice
Invoice
Payment
$206,014.34
NAVFAC
Office of Economic Adjustment
09/21/2015
STORMWATER - AUG 2015
$2,267.86
$705.49
$3,942.00
Deposit
$101,315.00
University College at Bath/Brunswick
09/28/2015
Invoice
Signage Reimbursement
Wild Oats Bakery.
09/11/2015
Invoice
$17,750.00
$1,318.48
Page 7 of 31
115
Vendor Detail
September 2015
Date
Transaction Type
Memo/Description
Amount
09/28/2015
09/29/2015
Expense
Expense
Membership Renewal
UAV Workshop
$150.00
$575.00
09/08/2015
Expense
ADC Registration
$990.00
09/17/2015
Expense
Registration
09/15/2015
09/30/2015
Bill
Bill Payment (Check)
Insurance Benefits, SEP 2015
G4J62
$1,014.60
($1,014.60)
AndroBank Credit Card
09/01/2015
09/17/2015
09/22/2015
Bill
Bill
Credit Card, 08/21/2015 - 9/21/2015
$6,961.53
($6,961.53)
$11,535.51
AAAE
ADC Group
AFCOM
$1,695.00
AFLAC
Applebee's
09/15/2015
Expense
$34.48
Association of Defense Communities
09/23/2015
Expense
Registration, J.Kilbourne
AT&T Mobility
09/01/2015
09/15/2015
Bill
Cellphones, 07/23/2015 - 8/22/2015
287257119400
Atlantic Business Services
09/01/2015
09/09/2015
Bill
Accounting SVC, AUG 2015
B - John Kilbourne
09/01/2015
09/17/2015
Bill
Reimbursement/Travel Advance, J.Kilbourne
Bangor Savings Bank
09/15/2015
Expense
Bank Analysis Fee September 2015
($10.19)
Expense
Software
$100.00
$360.00
$361.14
($361.14)
$2,325.00
($2,325.00)
$919.00
($919.00)
Basecamp
09/28/2015
Page 8 of 31
116
Vendor Detail
September 2015
Date
Beauregard Equipment
09/09/2015
09/21/2015
Transaction Type
Memo/Description
Bill
Tractor Repair
Bel-Tone Answering Service
09/15/2015
09/16/2015
Bill
Amount
$631.86
($631.86)
($30.00)
$30.00
Answering SVC, OCT 2015
Big Apple
09/02/2015
09/04/2015
09/04/2015
09/07/2015
09/08/2015
Expense
Expense
Expense
Expense
Expense
Gasoline, Chevy P/U
Gasoline
Gasoline
Gasoline, Chevy P/U
Gasoline, Dodge P/U
$36.12
$72.36
$60.74
$54.46
$67.01
Blane Casey Building Contractor, Inc.
09/01/2015
Bill
09/15/2015
Improvements to HNG 4 & 5 @ 100%
Brunswick & Topsham Water District
09/01/2015
Bill
09/01/2015
Bill
09/01/2015
Bill
09/11/2015
Bill
09/17/2015
BNAS Meters, 07/31/2015 - 8/31/2015
BNAS Flat, 07/31/2015 - 8/31/2015
Topsham Annex Flat, 07/31/2015 - 8/31/2015
Topsham, 07/31/2015 - 8/31/2015
Brunswick Downtown Association
09/08/2015
Expense
$181,653.07
($181,653.07)
Event Registration
$12,831.16
$300.00
$120.00
$1,792.67
($15,043.83)
$20.00
Brunswick Landing Realty Development Corp.
09/30/2015
($58,614.23)
Brunswick Sewer District
09/01/2015
09/02/2015
09/15/2015
09/17/2015
Bill
Bill
Infrastructure Maintenance, AUG 2015
Sewer, AUG 2015
Brunswick Tour and Travel
09/09/2015
09/14/2015
09/15/2015
09/17/2015
09/26/2015
09/30/2015
Bill
Bill
Bill
Travel Arrangements, S.Levesque
Travel Arrangements, B.Rocheleau
$1,500.00
$27,785.28
($27,785.28)
($1,500.00)
$1,338.38
$472.20
($1,338.38)
($472.20)
$502.75
($502.75)
Airfare, M.McMahon
Page 9 of 31
117
Vendor Detail
September 2015
Date
Cafe De Bangkok
09/21/2015
Transaction Type
Memo/Description
Amount
Expense
Meal w/ P. McKowen
$104.56
Expense
Expense
Expense
Credit Card Credit
Expense
Grease
Trailer Hitch/Mounting Materials
Trailer Hitch/Mounting Materials
RETURNED ITEMS
Wire/Ring Connectors, Brush Truck
$98.82
$61.48
$105.80
($105.80)
$22.75
Equipment Parts
Weed Wacker Blades
Equipment Keys
$487.76
($487.76)
$22.50
$12.63
Expense
Gasoline, Ford Escape
$26.50
CMP ... 0082 - 002
09/01/2015
09/09/2015
Bill
Topsham BLDG 338, T&D, 07/23/2015 - 08/24/2015
514 - 050 - 0082 002
$52.27
($52.27)
CMP ... 0651 - 002
09/01/2015
09/15/2015
Bill
Topsham Annex, T&D, 07/29/2015 - 08/27/2015
514-051-0651-002
$50.97
($50.97)
CMP ... 3045 - 013
09/15/2015
09/23/2015
Bill
Pine Street, T&D, 08/13/2015 - 09/14/2015
514 - 004 - 3045 - 013
$30.78
($30.78)
CMP ... 7697 - 002
09/01/2015
09/15/2015
Bill
Navy Feed, T&D, 07/28/2015 - 08/27/2015
514 - 044 - 7697 - 002
$43,495.49
($43,495.49)
CMP ... 8375 - 012
09/04/2015
09/15/2015
Bill
Harpswell Road Meter, T&D, 08/05/2015 - 09/02/2015
514 - 006 - 8375 - 012
Comcast ... 0295928
09/01/2015
09/17/2015
Bill
Internet, 9/8 - 10/7
8773303100295928
Comcast ... 0299557
09/01/2015
09/17/2015
Bill
Internet, 9/2 - 10/1
8773 30 310 0299557
Car Quest
09/03/2015
09/14/2015
09/14/2015
09/14/2015
09/16/2015
Chad Little Outdoor Power Equipment
09/01/2015
Bill
09/09/2015
09/15/2015
Expense
09/15/2015
Expense
Circle K
09/13/2015
$127.56
($127.56)
$82.90
($82.90)
$136.32
($136.32)
Page 10 of 31
118
Vendor Detail
September 2015
Date
Comcast ... 0311337
09/14/2015
09/23/2015
Transaction Type
Memo/Description
Bill
Internet, 9/21 - 10/20
8773 30 310 0311337
Amount
$142.85
($142.85)
Compass Technology Managers
09/09/2015
Constellation Energy
09/01/2015
09/17/2015
09/23/2015
Bill
Bill
($1,900.00)
Topsham Annex, Supply, 07/24/2015 - 08/24/2015
Topsham Annex, Supply, 8/14/2015 - 09/14/2015
$19.79
$19.88
($39.67)
Constellation Energy ... 1-MTYN43
09/01/2015
Bill
09/01/2015
Bill
09/15/2015
09/23/2015
Brunswick Landing - Supply, 07/29/2015 - 08/27/2015
Brunswick Landing - Supply, 06/26/2015 - 07/28/2015
1-MTYN43
1-MTYN43
Constellation Energy ... 1-O9FWKB
09/09/2015
Bill
09/23/2015
Harpswell Road - Supply, 06/06/2015 - 09/02/2015
1-O9FWKB
$99.42
($99.42)
Constellation Energy ... 1-O9FWN0
09/03/2015
Bill
09/15/2015
Topsham Annex St. Lights, Supply, 07/30/2015 - 8/27/2015
1-O9FWN0
$12.66
($12.66)
Cooks Lobster House
09/22/2015
Expense
Meal w/Prospective Investors
$279.50
Crooker Construction, LLC
09/21/2015
09/25/2015
Bill
Drainage Improvements
Cumberland Farms
09/11/2015
09/30/2015
Expense
Expense
Gasoline, Ford Escape
Diesel, "Cheater" VW
Damon Refrigeration Co., Inc.
09/09/2015
09/15/2015
09/16/2015
Bill
Plumbing SVC, BLDG 554
Db Bahn Automaten
09/24/2015
Metro Fees
Expense
$95,912.95
$93,455.86
($95,912.95)
($93,455.86)
$206,255.95
($206,255.95)
$26.00
$38.45
($3,400.00)
($257.93)
$782.37
$55.51
Page 11 of 31
119
Vendor Detail
September 2015
Date
Dead River Co.
09/02/2015
09/02/2015
09/23/2015
Transaction Type
Memo/Description
Bill
Bill
Diesel Fuel, Air Show Support Vehicles
Diesel, BXM use
3059033
Dig Smart of Maine
09/01/2015
09/09/2015
09/13/2015
09/13/2015
09/15/2015
09/17/2015
09/20/2015
09/20/2015
09/20/2015
Bill
Bill
Bill
Bill
Bill
Dirty Deeds LLC
09/18/2015
09/23/2015
Bill
Drummond Woodsum
09/15/2015
09/21/2015
09/21/2015
09/21/2015
Bill
Bill
Bill
Amount
$1,410.64
$1,417.90
($1,417.90)
($300.00)
($300.00)
$225.00
$187.50
($637.50)
($112.50)
$300.00
$712.50
$637.50
Utility Marking
Utility Marking
Utility Marking
Utility Marking
Utility Marking
Water Meter Installation 93/97 ADM Fitch
$2,026.00
($2,026.00)
($524.79)
$339.35
$2,549.43
$617.14
LEGAL SVC, AUG 2015
LEGAL SVC, AUG 2015
LEGAL SVC, AUG 2015
DSCI
09/01/2015
09/17/2015
Bill
VOIP SVC, SEP 2015
$566.11
($566.11)
E - Ben Sturtevant
09/10/2015
09/15/2015
Bill
Travel Advance, B. Sturtevant
$515.00
($515.00)
E - Robert Rocheleau
09/01/2015
09/09/2015
09/16/2015
09/17/2015
Bill
Bill
Reimbursement Request
$18.00
($18.00)
$284.00
($284.00)
Eastern Fire Services, Inc.
09/01/2015
09/09/2015
Bill
Plumbing SVC, BLDG 295
Customer #1371 -
Travel Advance, B.Rocheleau
$150.00
($150.00)
Page 12 of 31
120
Vendor Detail
September 2015
Date
Enterprise Electric, Inc.
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/10/2015
09/10/2015
09/17/2015
09/17/2015
Transaction Type
Bill
Bill
Bill
Bill
Bill
Bill
Memo/Description
Amount
($329.86)
$782.11
$178.58
$531.04
$3,593.00
$1,066.67
($1,491.73)
$392.51
OUTAGE SVC, ELEC
SVC, ELEC
SVC, ELEC
Transformer Recondition
Equipment Relocation
Meter Install, ELEC
ETTI
09/01/2015
09/01/2015
09/09/2015
09/17/2015
09/21/2015
Bill
Bill
Fairpoint Communications, Inc.
09/01/2015
Bill
09/15/2015
($214,804.03)
$3,175.14
($2,356.83)
($3,175.14)
$52,538.12
Sink Hole Repair, Pelican Rd.
BLDG 11 Parking Lot
Elevator Phone Lines, SEP 2015
$208.81
($208.81)
Federal Express
09/01/2015
09/01/2015
09/09/2015
09/14/2015
09/21/2015
09/23/2015
09/30/2015
Bill
Bill
Bill
4346-6128-5
Delivery Charges
4346-6128-5
Delivery SVC, BXM
Delivery SVC
4346-6128-5
4346-6128-5
Finance Authority of Maine
09/01/2015
09/01/2015
09/06/2015
09/21/2015
Journal Entry
Deposit
Bill
MRDA LOAN DRAW #3
Firesafe Equipment Inc.
09/10/2015
09/30/2015
Bill
FE Inspection, BLDG 200
G110179GM
$128.50
($128.50)
Expense
Aviation Gas, S.Levesque
$227.56
Bill
Equipment Repair
($24.60)
$44.61
($44.61)
$37.43
$58.74
($37.43)
($58.74)
$15,063.90
$1,651.97
($1,651.97)
Loan Payment
FlightLevel
09/23/2015
Fusion Welding, Inc.
09/02/2015
09/23/2015
$400.00
($400.00)
Page 13 of 31
121
Vendor Detail
September 2015
Date
Transaction Type
Memo/Description
G&E Roofing Co., Inc.
09/01/2015
09/09/2015
Bill
Roof Repair, BLDG 538
GAFTEK, LLC
09/15/2015
Gary Pomeroy Logging, Inc.
09/10/2015
Bill
09/15/2015
Amount
$747.61
($747.61)
($1,657.47)
Runway Obstruction Clearing
$58,508.14
($58,508.14)
Gibbs Oil
09/15/2015
Goodall Landscaping, Inc.
09/01/2015
Expense
$38.77
Greenwood Emergency Vehicles
09/01/2015
Bill
09/01/2015
Bill
09/09/2015
Group Dynamic, Inc.
09/01/2015
09/11/2015
Diesel, VW Passat
Bill
($8,750.38)
Fire Truck SVC
Firetruck SVC
$2,606.63
$2,234.89
($4,841.52)
($16.65)
$16.65
Dependent Care/Medical FSA, OCT 2015
H2o7 Inc.
09/14/2015
09/23/2015
Home Depot
09/03/2015
Bill
Water Cooler/Rental
Expense
Plants for Signs
Hoyle Tanner & Associates, Inc.
09/01/2015
09/04/2015
Bill
09/04/2015
Bill
09/04/2015
Bill
09/04/2015
Bill
09/04/2015
Bill
09/09/2015
09/17/2015
Bill
09/18/2015
Bill
09/25/2015
09/30/2015
$66.10
($66.10)
$92.51
($3,069.22)
$1,577.40
$1,122.00
$3,854.72
$517.83
$6,689.44
($49,500.00)
$1,861.61
$10,705.66
($19,774.54)
($6,554.12)
Project Administration, AUG 2015
Page 14 of 31
122
Vendor Detail
September 2015
Date
Transaction Type
Memo/Description
Amount
Leclerc Group
09/01/2015
09/15/2015
Bill
Payroll processing
$198.80
($198.80)
Libby's Market
09/04/2015
Expense
Meal for Blue Angels
$520.73
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Expense
Misc. Maintenance Items
PPE
Garbage Bins/Bags
Gifts
Zip Ties
Crack Sealing
Batteries
Tools
$118.30
$47.79
$40.03
$31.23
$11.06
$37.90
$16.43
$105.92
Lufthansa German Airlines
09/29/2015
Expense
Baggage Fees
Main Line Fence
09/01/2015
09/23/2015
Bill
Gate Install
4070 FY
Lowe's
09/01/2015
09/01/2015
09/03/2015
09/03/2015
09/03/2015
09/04/2015
09/04/2015
09/21/2015
Maine Commercial Tire, Inc.
09/01/2015
Bill
09/17/2015
Maine International Trade Center
09/01/2015
Bill
09/21/2015
$84.37
$1,730.00
($1,730.00)
Tire repair, Tractor
4454
$404.42
($404.42)
Trade Mission JPN/CHN
$5,900.00
($5,900.00)
Maine Municipal Employees Health Trust
09/22/2015
Bill
09/30/2015
Employee Benefits, OCT 2015
MTH 50428
$9,662.16
($9,662.16)
Maine Natural Gas
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
Natural Gas, 07/28/2015 - 08/24/2015, 93 ADM Fitch BLDG A
Natural Gas, 07/28/2015 - 08/24/2015, 97 ADM Fitch BLDG B
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 251
Natural Gas, 07/28/2015 - 08/24/2015, Hangar 6
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 38
Natural Gas, 07/28/2015 - 08/24/2015, HNG 5
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 27
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 200
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
$46.42
$34.48
$36.68
$352.27
$34.77
$3,419.52
$124.35
$36.68
Page 15 of 31
123
Vendor Detail
September 2015
Date
09/01/2015
09/01/2015
09/01/2015
09/15/2015
Transaction Type
Bill
Bill
Bill
Memo/Description
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 250
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 250
Natural Gas, 07/28/2015 - 08/24/2015, BLDG 632
Mechanics Savings Bank
09/01/2015
09/30/2015
09/30/2015
Check
Deposit
Deposit
Service Charge
Interest Earned
Interest Earned
Midcoast Marine Supply
09/03/2015
Expense
Gifts
Amount
$34.77
$34.77
$34.77
($4,189.48)
($60.00)
$2,651.95
$85.70
$21.37
National Elevator Inspection Services, Inc.
09/17/2015
Bill
09/23/2015
Inspection, HNG 6
$137.50
($137.50)
Northeast Merchandising Corp.
09/01/2015
Bill
09/09/2015
Coffee
$195.89
($195.89)
Alarm SVC, BLDG 632
Alarm SVC, HNG 6
Monitoring SVC, BLDG 27
/Customer #3636
/Customer #3636
$90.00
$126.50
$216.00
($126.50)
($216.00)
Carpet Cleaning, BLDG 250
$375.00
($375.00)
Northeast Security Systems, Inc.
09/01/2015
Bill
09/01/2015
Bill
09/01/2015
Bill
09/17/2015
09/23/2015
O'Neal's Janitorial Services
09/04/2015
Bill
09/15/2015
Ouellet Associates, Inc.
09/01/2015
09/11/2015
09/21/2015
09/23/2015
Bill
Bill
Siding Repair, BLDG 632
Information Kiosk
Page Monuments
09/24/2015
09/30/2015
Bill
Rotary BNAS Memorial Plaque
Bill
Energy Savings, OCT-DEC
$13,434.25
$21,750.00
($13,434.25)
($21,750.00)
$1,285.40
($1,285.40)
Pemco
09/01/2015
09/01/2015
$27,693.01
($27,693.01)
Page 16 of 31
124
Vendor Detail
September 2015
Date
Pine Tree Waste, Inc.
09/01/2015
09/21/2015
Transaction Type
Memo/Description
Bill
Waste Removal, AUG 2015
$613.43
($613.43)
Portland Glass
09/01/2015
09/17/2015
09/17/2015
Bill
Bill
Forklift Repair
Window Repair, BLDG 27
$138.30
($138.30)
$168.95
Post Office - Brunswick
09/01/2015
Expense
Postage fees
Power System Engineering, Inc.
09/01/2015
09/09/2015
09/15/2015
Bill
09/15/2015
Bill
09/15/2015
Bill
Priority Commercial Realty Group, LLC
Amount
$6.74
($4,182.50)
($2,047.50)
$1,759.60
$7,858.00
$4,745.00
Consulting SVC, ELEC
Check
proration of property taxes for FY 2016 on 93 and 97 Admiral Fitch
Avenue - July 1 to August 26, 2015
PublicRecords.com
09/14/2015
Expense
Background Check
Ready Refresh by Nestle
09/03/2015
09/17/2015
Bill
Water Cooler Rental/Delivery, 08/01/2015 - 08/31/2015
432506111
Richard Waltz Plumbing
09/01/2015
09/21/2015
Bill
PLUMBING SVC, HNG 4/BLDG 250
Bill
FY2015 Audit
Expense
Misc. Items
09/24/2015
($997.37)
$19.95
$54.76
($54.76)
$483.31
($483.31)
RKO
09/01/2015
Rogers Ace Hardware
09/17/2015
ROI Research on Investment
09/01/2015
Bill
09/15/2015
$10,800.00
$79.05
Contract Billing
MRRA-003
$3,000.00
($8,025.00)
Sears
09/15/2015
Expense
Tools to repair runway lights
$102.68
Page 17 of 31
125
Vendor Detail
September 2015
Date
Transaction Type
Memo/Description
Amount
09/03/2015
09/04/2015
09/20/2015
Expense
Expense
Expense
Labels
Advertising Materials
Business Cards
$42.28
$819.27
$8.08
State of Maine - Board of B & P V
09/28/2015
Expense
Elevator Registration
$120.00
State of Maine - DEP
09/02/2015
09/23/2015
Bill
Permit Fee
/Customer # : 06ASTW0566
State of Maine - MRS
09/17/2015
Expense
Sales Tax Return, 08012015 - 08312015
State Of Maine - RMD
09/04/2015
Bill
Auto Insurance
SWAT Team
09/11/2015
09/21/2015
Bill
Pest Control, BLDG 200
Staples
Tedford Housing
09/02/2015
Bill
Thayer Corporation
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/09/2015
09/15/2015
09/17/2015
09/21/2015
Bill
Bill
Bill
Bill
Bill
Bill
The Cote Corporation
09/24/2015
09/30/2015
Bill
$314.00
($314.00)
($1,139.38)
$4,062.20
$95.00
($95.00)
Services rendered under the Homeless Services Implementation Plan,
August 2015
$5,766.15
($23,919.00)
$213.75
$745.11
$9,572.00
$214.71
$603.26
$696.39
($4,978.00)
($9,572.00)
($5,030.70)
($1,173.57)
HVAC SVC, BLDG 102
SVC Agreement, BLDG 27
Agreement Billing, HNG 6
HVAC SVC, 93 SVC
HVAC SVC, HNG 6
HVAC SVC, BLDG 250
Machinery Moving
$1,860.00
($1,860.00)
Page 18 of 31
126
Vendor Detail
September 2015
Date
ThyssenKrupp Elevator
09/01/2015
09/01/2015
09/04/2015
09/15/2015
09/17/2015
Transaction Type
Memo/Description
Bill
Bill
Bill
Elevator SVC, 91/2015 - 11/30/2015
Elevator SVC, 9/1/2015 - 11/30/2015
ELEV SVC, HNG 6
122627
122627
Expense
Luggage Strap
Amount
$332.34
$223.86
$465.00
($332.34)
($223.86)
TJ Maxx
09/14/2015
Toshiba America Business Solutions
09/06/2015
Bill
09/21/2015
Photocopier Lease
7549437-001
Town of Brunswick
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/04/2015
Property Taxes, 2015 - 2016, 1/2
Property Taxes, 2015 - 2016. 2/2
Property Taxes, H6, 2015 - 2016, 2/2
Property Taxes, B27, 2015 - 2016, 1/2
Property Taxes, B27, 2015 - 2016, 2/2
Property Taxes, B55, 2015 - 2016, 1/2
Property Taxes, B55, 2015 - 2016, 2/2
Property Taxes, B78, 2015 - 2016, 1/2
Property Taxes, B78, 2015 - 2016, 2/2
Property Taxes, B81, 2015 - 2016, 1/2
Property Taxes, B81, 2015 - 2016, 2/2
Property Taxes, B103, 2015 - 2016, 1/2
Property Taxes, B103, 2015 - 2016, 2/2
Property Taxes, B250, 2015 - 2016, 1/2
Property Taxes, B250, 2015 - 2016, 2/2
Property Taxes, B252, 2015 - 2016, 1/2
Property Taxes, B252, 2015 - 2016, 2/2
Property Taxes, B1, 2015 - 2016, 1/2
Property Taxes, B1, 2015 - 2016, 2/2
Property Taxes, B553, 2015 - 2016, 1/2
Property Taxes, B553, 2015 - 2016, 2/2
Property Taxes, B554, 2015 - 2016, 1/2
Property Taxes, B554, 2015 - 2016, 2/2
Property Taxes, B585, 2015 - 2016, 1/2
Property Taxes, B585, 2015 - 2016, 2/2
Property Taxes, B660, 2015 - 2016, 1/2
Property Taxes, B660, 2015 - 2016, 2/2
Reimbursement, Bollards
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
Bill
$8.42
$191.10
($191.10)
$2,699.87
$2,699.87
$319.05
$319.05
$114,374.46
$114,374.46
$4,899.19
$4,899.19
$1,518.68
$1,518.68
$10,491.78
$10,491.78
$4,039.88
$4,039.88
$1,488.90
$1,488.90
$12,214.65
$12,214.65
$1,257.77
$1,257.76
$133,860.62
$133,860.62
$9,079.46
$9,079.45
$728.85
$728.85
$470.78
$470.77
$833.79
$833.78
$1,466.67
Page 19 of 31
127
Vendor Detail
September 2015
Date
Tractor Supply
09/02/2015
09/04/2015
09/22/2015
Transaction Type
Memo/Description
Expense
Expense
Expense
Beacon Lights
Gas Can
Silicon Gel
Amount
$50.62
$27.99
$6.79
Treasurer State of Maine - DHHS
09/18/2015
Check
child support services 20039366P
United Airlines
09/11/2015
09/11/2015
09/12/2015
Expense
Expense
Expense
Airfare, S.Levesque
Airfare, S.Levesque
Airfare, S.Levesque
09/15/2015
09/17/2015
Bill
LTD Monthly Billing, 10/1/2015 - 10/31/2015
MRRA
09/02/2015
09/06/2015
Expense
Expense
Water Bottle for Mow Crew
Printer Ink
Warren's Office Supplies
09/01/2015
09/09/2015
09/23/2015
09/23/2015
Bill
Bill
Bill
Office Supplies
Washington Valuations
09/01/2015
09/17/2015
Bill
Appraisal, BLDG 201
White Sign Division
09/24/2015
Bill
Signage
Wright-Pierce Engineering
09/09/2015
09/23/2015
Bill
($208.00)
$29.00
$27.00
$169.00
UNUM
$467.90
($467.90)
Walmart
$9.37
$122.23
$139.07
$50.42
($139.07)
$106.50
Copy Paper
$2,500.00
($2,500.00)
$1,046.33
($14,072.95)
$11,536.21
ADA & Life Safety EDA, AUG 2015
Page 20 of 31
128
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
Transfer local match contribution from MRRA to the FY 2016
OEA Budget
50900-2 Transfers: Transfer OEA Grant and MRRA
Operating
1 MRRA FY 2016
OEA Budget
Operating
3 OEA FY 2016
Debit
Credit
$56,200.00
$56,200.00
$56,200.00
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
09/01/2015
Journal Entry
Journal Entry
Journal Entry
Journal Entry
Journal Entry
Journal Entry
2055
2056
2057
2058
2059
2060
Transfer from Airport to MRRA to support grounds maintenance 50900-8 Transfers: Transfer MRRA Operating and BXM
operations. Half of Maint. Supervisor and Maint. Worker salaries,
wages and benefits.
2 Airport FY 2016
Transfer from Airport to MRRA to support grounds maintenance 50900-8 Transfers: Transfer MRRA Operating and BXM
operations. Half of Maint. Supervisor and Maint. Worker salaries,
wages and benefits.
1 MRRA FY 2016
Transfer from MRRA to Water Budget to support revenue needs
for FY 2016.
Transfer from MRRA to Water Budget to support revenue needs
for FY 2016.
50900-4 Transfers: Transfer Water Utility and MRRA
Operating
Operating
1 MRRA FY 2016
Transfer from Water budget to MRRA for PW Utility Director and
Bookkeepers position for FY 2016
Transfer from Water budget to MRRA for PW Utility Director and
Bookkeepers position for FY 2016
Operating
Operating
5 Water FY 2016
Transfer 10.0% of MRRA lease revenue to Capital Reserve
Account in Reserves
Transfer 10.0% of MRRA lease revenue to Capital Reserve
Account in Reserves
50900-1 Transfers: Transfer to Capital Sinking Fund
(MRRA)
50900-1 Transfers: Transfer to Capital Sinking Fund
(MRRA)
1 MRRA FY 2016
Transfer from MRRA to Airport to support revenue needs for FY
2016.
Transfer from MRRA to Airport to support revenue needs for FY
2016.
50900-8 Transfers: Transfer MRRA Operating and BXM
1 MRRA FY 2016
2 Airport FY 2016
Transfer from Annuitization Fund to MRRA to support overall
operations for FY 2016
Transfer from Annuitization Fund to MRRA to support overall
operations for FY 2016
50900-e Transfers: Transfer to/from Sale of Property and 8 Reserves
MRRA
50900-e Transfers: Transfer to/from Sale of Property and 1 MRRA FY 2016
MRRA
$6,700.00
$6,700.00
$6,700.00
129
$6,700.00
$13,600.00
5 Water FY 2016
$13,600.00
$13,600.00
$13,600.00
$1,900.00
1 MRRA FY 2016
$1,900.00
$1,900.00
$1,900.00
$3,300.00
8 Reserves
$3,300.00
$3,300.00
$3,300.00
$10,900.00
$10,900.00
$10,900.00
\
$56,200.00
$10,900.00
$138,500.00
$138,500.00
$138,500.00
$138,500.00
Page 21 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/01/2015
Journal Entry
2061
Transfer from Sanitary and Stormwater to MRRA for PW Utilities 50900-5 Transfers: Transfer Stormwater/Sewer and MRRA 6 Sanitary and
Director and Bookkeeper position
Stormwater FY 2016
Transfer from Sanitary and Stormwater to MRRA for PW Utilities 50900-5 Transfers: Transfer Stormwater/Sewer and MRRA 1 MRRA FY 2016
Director and Bookkeeper position
09/04/2015
09/01/2015
09/01/2015
Journal Entry
Journal Entry
Journal Entry
2062
2063
2064
Transfer in funds from Brunswick Landing MHC USA LLC to be
11010-8 Bangor Savings - Project Operating 2366
held for Principal reserve payment on NMTC program in January
of 2019
Transfer in funds from Brunswick Landing MHC USA LLC to be
held for Principal reserve payment on NMTC program in January
of 2019
Debit
Credit
$56,200.00
$1,900.00
$1,900.00
$1,900.00
$29,036.76
$29,036.76
$29,036.76
Transfer from MRRA to Sanitary and Stormwater Sewer Budget
for FY 2016 to support revenue needs.
Transfer from MRRA to Sanitary and Stormwater Sewer Budget
for FY 2016 to support revenue needs.
50900-5 Transfers: Transfer Stormwater/Sewer and MRRA 1 MRRA FY 2016
Contribution from Airport to MRRA to support local match
requirement for Airport Manager's salary and benefits
2 Airport FY 2016
Contribution from Airport to MRRA to support local match
requirement for Airport Manager's salary and benefits
1 MRRA FY 2016
50900-5 Transfers: Transfer Stormwater/Sewer and MRRA 6 Sanitary and
Stormwater FY 2016
09/01/2015
Journal Entry
Journal Entry
2065
2069
Transfer contribution to support PW and Utility Director and
Bookkeeper positions for to MRRA.
Transfer contribution to support PW and Utility Director and
Bookkeeper positions for to MRRA.
50900-3 Transfers: Transfer Electric Utility and MRRA
Operating
50900-3 Transfers: Transfer Electric Utility and MRRA
Operating
MRDA DRAW #3
MRDA Draw #3
4 Electrical FY 2016
$38,400.00
$38,400.00
130
$38,400.00
$5,800.00
$5,800.00
$5,800.00
$1,900.00
1 MRRA FY 2016
$1,900.00
$1,900.00
$1,900.00
$15,063.90
$15,063.90
\
$29,036.76
$38,400.00
$5,800.00
09/01/2015
$1,900.00
$15,063.90
$15,063.90
Page 22 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
$56,200.00
09/04/2015
Journal Entry
2070
Salaries
Wages
Salaries - Perkins
Wages - MRRA - Revels
Wages - Temp Help - Glynn
Wages - Temp Help - Ambrose
Wages - Temp Help - Thompson, Nicola
Wages - Temp Help - Hooper
Health Insurance Buyout - Other Pay
Health Insurance Buyout - Other Pay - MRRA Spec Rev
FSA Deductions - Medical Reimbursement
50102 Personnel Services: Salaries
50103 Personnel Services: Wages
50130 Personnel Services: Temporary Wages
50260 Employee Benefits: Other Employee Benefits
24710-4 Payroll Deduct. & Withholdings: Flexible
Spending Account With.
24710-5 Payroll Deduct. & Withholdings: United Way
Withholding
24710-3 Payroll Deduct. & Withholdings:401(a) and
457(b) Withholding
457(b) Withholding
Payroll Deduct. & Withholdings:24710-6 Child Support
Withholding
11010-4 Bath Savings - Payroll - 3166
50451-3 Professional Services: Other Professional
Services: Banking Services
50230 Employee Benefits:FICA Taxes
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
$16,071.20
$2,125.20
$960.00
$643.20
$351.75
$400.00
$245.00
$395.00
$615.94
$158.87
FSA - Dependent Care
United Way Withholding
401(a) Withholding
457(b) Withholding
Child Support Withholding
Direct Deposit & Payroll Processing Fee
Payroll Check Processing Fees
State Payroll Taxes Liability
Federal Payroll Tax Liability
FICA - Employer Match
FICA - Employer Match - MRRA
FICA - Employer Match - Airport
Health Insurance Premium deduction
Net Benefit Deduction
Debit
Credit
$88.08
3 OEA FY 2016
$96.15
3 OEA FY 2016
$82.00
3 OEA FY 2016
$1,246.02
3 OEA FY 2016
$230.00
3 OEA FY 2016
$52.00
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
2 Airport FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
$14,219.18
$28.60
$1,110.00
$6,022.20
$1,203.30
$235.80
$0.00
$23,433.86
09/04/2015
Journal Entry
2071
401(a) withheld
401(a) Match
401(a) and 457(b) Remittance
457(b) withheld
401(a) Match - MRRA - Revels & Perkins
457(b) Withholding
50211 Employee Benefits: Deferred Compensation
11010-1 Bath Savings Institution Check. - 8906
457(b) Withholding
\
131
$169.36
$85.84
$33.03
$23,433.86
$1,246.02
3 OEA FY 2016
$1,455.74
$3,060.02
$230.00
1 MRRA FY 2016
$128.26
$3,060.02
$3,060.02
Page 23 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/11/2015
Journal Entry
2073
To reverse uncashed cashed check by Washington Valuations
(check number 4616) dated March 5, 2013
To reverse uncashed cashed check by Washington Valuations
(check number 4616) dated March 5, 2013
09/11/2015
09/11/2015
09/11/2015
09/11/2015
09/11/2015
Journal Entry
Journal Entry
Journal Entry
Journal Entry
Journal Entry
2074
2075
2076
2077
2078
to reverse check number 5074 to the Hartford which was never
cashed (dated July 15, 2013)
to reverse check number 5074 to the Hartford which was never
cashed (dated July 15, 2013)
t Closed - FY 2013
MRRA Operating
Budget
50451-s Professional Services: Other Professional Services: t Closed - FY 2013
Appraisals
MRRA Operating
Budget
50601 Other Purchased Services: Liability Insurance
to reverse check number 5441 to Aviation Week for a check that 11010-1 Bath Savings Institution Check. - 8906
was never cashed dated November 7, 2013
to reverse check number 5441 to Aviation Week for a check that 50305 Supplies: Books and Periodicals
was never cashed dated November 7, 2013
to reverse check number 5631 to the Thayer Corporation for a
check that was never cashed, dated January 21, 2014
to reverse check number 5959 to the Town of Brunswick dated
April 18, 2014 which was never cashed
to reverse check number 5959 to the Town of Brunswick dated
April 18, 2014 which was never cashed
Debit
Credit
$56,200.00
$2,400.00
$2,400.00
$2,400.00
$24.75
AO - FY 2014 OEA
Grant
$24.75
$24.75
AA - FY 2014 Airport
$49.00
$49.00
\
132
$49.00
$3,332.72
$2,914.91
$417.81
$3,332.72
To reverse check number 6088 to MaineBiz for $126.00 for check 11010-1 Bath Savings Institution Check. - 8906
that was never cashed dated May 21, 2014
To reverse check number 6088 to MaineBiz for $126.00 for check 50451-e Professional Services: Other Professional
that was never cashed dated May 21, 2014
Services: Business Attraction
$24.75
$49.00
50580 Property Services: Miscellaneous Repairs/Mainten. AM - FY 2014 MRRA
Operating
50520 Property Services: Building Maintenance
AA - FY 2014 Airport
50430 Professional Services: Permits/Fees
$2,400.00
$3,332.72
$50.00
AM - FY 2014 MRRA
Operating
$50.00
$50.00
$50.00
$126.00
AM - FY 2014 MRRA
Operating
$126.00
$126.00
$126.00
Page 24 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/11/2015
Journal Entry
2079
to reverse check (number not recorded) to Bath Savings that was 11010-1 Bath Savings Institution Check. - 8906
never cashed dated July 31, 2014
to reverse check (number not recorded) to Bath Savings that was 50451-3 Professional Services: Other Professional
never cashed dated July 31, 2014
09/11/2015
09/11/2015
09/17/2015
Journal Entry
Journal Entry
Journal Entry
2080
2081
2083
to reverse check to CMP (number 6651) that was never cashed
dated October 27, 2014
to reverse check to CMP (number 6651) that was never cashed
dated October 27, 2014
to reverse check number 6914 to Scott Terry for a check that was 11010-1 Bath Savings Institution Check. - 8906
never cashed dated January 1, 2015
to reverse check number 6914 to Scott Terry for a check that was 50414 Professional Services: Annual Meeting
never cashed dated January 1, 2015
Check No. 112
FHR 007 - 09102015/ Check 112
FHR 007 - 09102015/ Check 112
40410-1 Growth Fund Loan: Growth Fund Loan Interest
Income
11510-7 Revolving Loan Fund - Fire House Realty LLC
Credit
$56,200.00
$15.00
91 MRRA FY 2015
$15.00
$15.00
50510 Property Services: Electricity
Debit
$30.79
94 Electrical Utility FY
2015
$30.79
$30.79
Journal Entry
2084
Check No. 0883
002 002 002 002 002 -
40600 Interest Income
Income
91 MRRA FY 2015
$131.16
$131.16
Journal Entry
2085
to write off receivable from EDA for the MTI/EDA Renewable
Energy Study
to write off receivable from EDA for the MTI/EDA Renewable
Energy Study
11540-1 Allowance for Uncollectable Lease Receivables
MRRA
$266.13
$196.09
8 Reserves
$70.04
$266.13
$2,070.50
8 Reserves
8 Reserves
8 Reserves
8 Reserves
$776.50
$350.00
$809.01
$134.55
8 Reserves
133
$0.44
$2,070.50
$362.86
$362.86
$362.86
\
$131.16
8 Reserves
$2,070.50
09/17/2015
$30.79
$131.16
$266.13
09/17/2015
$15.00
$362.86
Page 25 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
$56,200.00
09/17/2015
Journal Entry
2086
Southern Midcoast Chamber Membership Dues for FY 2016
Deposit at Hilton Garden Inn for November 2016 Annual
Meeting
American Composites Manufacturing Association (ACMA) Annual
Membership Dues
American Association of Airport Executives dues for FY 2016
50402 Professional Services: Dues and Memberships
50414 Professional Services: Annual Meeting
1 MRRA FY 2016
1 MRRA FY 2016
$165.00
$500.00
50451-e Professional Services: Other Professional
Services: Business Attraction
50402 Professional Services: Dues and Memberships
1 MRRA FY 2016
$250.00
2 Airport FY 2016
$325.00
Base fee for photocopier for FY 2015 with Portland Computer
50307 Supplies: Photocopier
1 MRRA FY 2016
Copy
Northeast Security Systems base monitoring contract for FY 2016 50580 Property Services: Miscellaneous Repairs/Mainten. 1 MRRA FY 2016
09/17/2015
Journal Entry
2087
Debit
Credit
$2,236.00
$360.00
Northeast Security Systems base monitoring contract for FY 2016 50580 Property Services: Miscellaneous Repairs/Mainten. 2 Airport FY 2016
elevator phone
50413 Professional Services: Executive Director Meeting 1 MRRA FY 2016
Brunswick Rotary Club membership for Steve Levesque
Expenses
Thyssen Krupp Elevator service for FY 2016
50580 Property Services: Miscellaneous Repairs/Mainten. 2 Airport FY 2016
$221.56
Thyssen Krupp Elevator service for FY 2016
$149.24
50580 Property Services: Miscellaneous Repairs/Mainten. 2 Airport FY 2016
$132.00
$75.00
Volunteer Insurance for FY 2016
50601 Other Purchased Services: Liability Insurance
1 MRRA FY 2016
Radio monitoring services with Northeast Security Services for FY 50580 Property Services: Miscellaneous Repairs/Mainten. 1 MRRA FY 2016
2016
Maine Municipal Employees Health Trust July insurance
1 MRRA FY 2016
$24.75
$216.00
$1,546.09
Maine Municipal Employees Health Trust July insurance
3 OEA FY 2016
$9,320.51
payment to PEMCO on energy savings to amortize street light
cost - first quarter
telephone service after hours for office
Times Record six month subscription
journal entry to move pre-paid expenses from balance sheet to
expense accounts for FY 2016
50510 Property Services: Electricity
4 Electrical FY 2016
50512 Property Services: Telephone
50305 Supplies: Books and Periodicals
1 MRRA FY 2016
1 MRRA FY 2016
to transfer earned income from Deferred Revenue Account to
Homeless Assistance Income
to transfer earned income from Deferred Revenue Account to
Homeless Assistance Income
$27,693.01
$30.00
$73.16
$43,317.32
$43,317.32
40252 Homeless Assist. Contributions
\
134
$43,317.32
$16,691.88
9 Homeless
Assistance
$16,691.88
$16,691.88
$16,691.88
Page 26 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/17/2015
Journal Entry
2088
move interest income from Miscellaneous Revenue to Interest
Earned
move interest income from Miscellaneous Revenue to Interest
Earned
40450 Miscellaneous Income
9 Homeless
Assistance
9 Homeless
Assistance
Salaries
Wages
Salaries - Perkins
Wages - Temp Help - Reny
Withholding
457(b) Withholding
457(b) Withholding
Withholding
09/18/2015
Journal Entry
2089
401(a) Withholding
457(b) Withholding
41510 Interest Earned
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
Debit
Credit
$56,200.00
$383.43
$383.43
$383.43
$16,071.20
$2,125.20
$960.00
$643.20
$257.25
$220.00
$341.00
$240.00
$615.94
$158.87
$88.08
3 OEA FY 2016
$96.15
3 OEA FY 2016
$82.00
3 OEA FY 2016
$1,246.02
3 OEA FY 2016
$230.00
3 OEA FY 2016
$52.00
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
2 Airport FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
$13,995.59
$31.00
$1,084.00
$5,915.18
$1,203.29
$210.30
$0.00
$23,077.25
\
135
$383.43
$169.36
$85.84
$33.03
$23,077.25
Page 27 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/18/2015
Journal Entry
2090
401(a) withheld
457(b) Withholding
457(b) Withholding
401(a) Match
457(b) withheld
09/11/2015
Journal Entry
2091
Salaries
Wages
Salaries - Perkins
401(a) Withholding
457(b) Withholding
Withholding
457(b) Withholding
457(b) Withholding
Withholding
Debit
Credit
$56,200.00
$1,246.02
3 OEA FY 2016
$1,455.74
$3,060.02
$230.00
1 MRRA FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
$128.26
$3,060.02
$16,071.20
$2,125.20
$960.00
$643.20
$351.75
$400.00
$357.50
$400.00
$615.94
$158.87
$88.08
3 OEA FY 2016
$96.15
3 OEA FY 2016
$82.00
3 OEA FY 2016
$1,246.02
3 OEA FY 2016
$230.00
3 OEA FY 2016
$52.00
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
2 Airport FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
$14,326.69
$28.60
$1,110.00
$6,041.18
$1,203.30
$244.79
$0.00
$23,560.35
\
136
$3,060.02
$169.36
$85.84
$33.03
$23,560.35
Page 28 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/21/2015
Journal Entry
2092
401(a) withheld
457(b) Withholding
457(b) Withholding
401(a) Match
457(b) withheld
09/22/2015
Journal Entry
2093
Debit
Credit
$56,200.00
$1,117.76
3 OEA FY 2016
$1,584.00
$3,060.02
$230.00
1 MRRA FY 2016
$128.26
$3,060.02
$2,200.00
$2,200.00
09/25/2015
Journal Entry
2094
To record the sale of Buildings 23 and 25 on lots 40 and 38 (4.7
acres) to TBW LLC
Lot 40 (building 25) 2.47 acres at $28,000
Lot 38 (building 23) 2.23 acres at $28,000
Building 25 Gymnasium
Building 32 Post Office (former car wash)
Building 25 Gymnasium accumulated depreciation
Building 23 Gymnasium accumulated depreciation
Gain on sale
32147 Mechanics Savings Bank 10746
12110 Land
12110 Land
60000 Gain/Loss on Sale of Property
09/25/2015
Journal Entry
Journal Entry
2102
2103
LOAN 006 Payment - Wire Transfer
Salaries
Wages
Salaries - Perkins
11010-c Mechanics Savings Sweep Account - 10472
11510-6 Revolving Loan Fund - Family Focus
Income
\
137
$2,200.00
$2,200.00
$549,000.00
$69,160.00
$62,440.00
$400,000.00
$26,700.00
$44,444.43
$1,877.33
Fixed Assets
$595,321.76
09/28/2015
$3,060.02
$37,021.76
$595,321.76
$754.85
8 Reserves
8 Reserves
$613.16
$141.69
$754.85
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
$754.85
$16,071.20
$2,125.20
$960.00
$643.20
$357.00
$440.00
$400.00
$615.94
$158.87
$88.08
3 OEA FY 2016
$96.15
Page 29 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
Withholding
457(b) Withholding
457(b) Withholding
3 OEA FY 2016
$82.00
3 OEA FY 2016
$1,246.02
3 OEA FY 2016
$230.00
401(a) Withholding
457(b) Withholding
3 OEA FY 2016
1 MRRA FY 2016
3 OEA FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
2 Airport FY 2016
3 OEA FY 2016
3 OEA FY 2016
1 MRRA FY 2016
Debit
Credit
$56,200.00
$14,120.99
$29.25
$1,100.00
$5,973.38
$1,203.28
$220.91
$0.00
$23,224.85
09/25/2015
Journal Entry
2104
401(a) withheld
401(a) Match
457(b) withheld
09/30/2015
Journal Entry
2117
457(b) Withholding
457(b) Withholding
to record additional expense to the Airport Budget for
50850 Expense for Uncollectable Leases
uncollectable leases for the quarter ending September 30, 2015
$1,117.76
3 OEA FY 2016
$1,584.00
$3,060.02
$230.00
1 MRRA FY 2016
2 Airport FY 2016
$128.26
$3,060.02
$96,784.83
$96,784.83
Journal Entry
2118
to record additional expense for uncollectible leases for the
Quarter ending September 30, 2015
to record additional expense for uncollectible leases for the
Quarter ending September 30, 2015
50850 Expense for Uncollectable Leases
MRRA
\
138
$3,060.02
$96,784.83
to record additional expense to the Airport Budget for
uncollectable leases for the quarter ending September 30, 2015 MRRA
09/30/2015
$169.36
$85.84
$33.03
$23,224.85
1 MRRA FY 2016
$96,784.83
$16,804.71
$16,804.71
$16,804.71
$16,804.71
Page 30 of 31
Journal Entries
August 2015
Date
Transaction
Type
Num
Memo/Description
Account
Class
09/01/2015
Journal Entry
2054
OEA Budget
Operating
1 MRRA FY 2016
09/30/2015
Journal Entry
2119
To set up separate reserve funds for Uncollectible Leases for
MRRA and BXM
To set up separate reserve funds for Uncollectible Leases for
MRRA and BXM
MRRA
11540-2 Allowance for Uncollectable Leases Receivables
BXM
transfer credit back to expense due to reduction in outstanding
receivables for MRRA loans at September 30, 2015
11541-1 Allowance for Uncollectable Loans MRRA
1 MRRA FY 2016
transfer credit back to expense due to reduction in outstanding
receivables for MRRA loans at September 30, 2015
50851 Expense for Uncollectible Loans
1 MRRA FY 2016
increase expense and reserve for estimated uncollectable loans
at September 30, 2015 for BXM loans
50851 Expense for Uncollectible Loans
2 Airport FY 2016
increase expense and reserve for estimated uncollectable loans
at September 30, 2015 for BXM loans
2 Airport FY 2016
09/30/2015
Journal Entry
2120
Debit
Credit
$56,200.00
$218,854.08
$218,854.08
$218,854.08
$5,934.30
$5,934.30
$847.45
$847.45
$6,781.75
09/30/2015
09/30/2015
Journal Entry
Journal Entry
2121
2122
to move BXM Loan receivables to its own expense and reserve
account as of September 30, 2015
to move BXM Loan receivables to its own expense and reserve
account as of September 30, 2015
to record the sale revenue from Buildings 25 (gymnasium) and
23 (car wash, now post office) to TBW on September 25, 2015.
50900-x Transfers: Transfer from Sale of Property and
Reserves
Fixed Assets
to record the sale revenue from Buildings 25 (gymnasium) and
23 (car wash, now post office) to TBW on September 25, 2015.
50900-x Transfers: Transfer from Sale of Property and
Reserves
8 Reserves
Journal Entry
878R
To create an accounts receivable for an overcharge for a bank
fee that they agreed to reimburse in July 2013
11541-2 Allowance for Uncollectable Loans BXM
$311,124.74
$311,124.74
o create an accounts receivable for an overcharge for a bank fee 50451-3 Professional Services: Other Professional
that they agreed to reimburse in July 2013
\
139
$6,781.75
$311,124.74
t Closed - FY 2013
MRRA Operating
Budget
t Closed - FY 2013
MRRA Operating
Budget
$311,124.74
$549,000.00
$549,000.00
$549,000.00
09/11/2015
$218,854.08
$549,000.00
$6.00
$6.00
$6.00
Page 31 of 31
$6.00
Executive Committee
Meeting Notes for Tuesday, September 1, 2015
Committee Members:
Vice President Rita Armstrong, Treasurer Steve Weems, Secretary Lois
Skillings, and John Moncure
Excused:
Chair John Peters
MRRA Staff:
Steve Levesque and Kathy Paradis
Others Attending:
Linda Smith, Town of Brunswick
Location:
MRRA, 15 Terminal Road, Suite 200, Brunswick, ME
The meeting was called to order at 7:30 a.m.
Property Transfers/Leases. Steve advised that MRRA is receiving another transfer of land and
buildings this year, including the hobby shop, galley, former thrift shop and Sea Cadet building.
MRRA is also receiving fee ownership in Hangar 4/Building 250, which currently has a FOSL (Finding
of Suitability to Lease) in place. Steve noted that some of the land in the areas around the airport is
not coming right away as there are some environmental issues due to firefighting foam.
Property Sales/Lease Updates.
∑ The two housing units located on 93 and 97 Admiral Fitch were sold to Priority Group.
∑ MRRA is adding some more property to the subdivision plan so properties can be sold (Frosty’s).
∑ A lease has been signed for the former SCIF building (#554) with Smarter Risk (Charlie Largay) to
be used for office and instructional space in support of cyber operations center for commercial
and government clients and providing for an advanced cyber-security instructional and testing
facility.
Redevelopment Activity Update
∑ The Brunswick Landing campus is looking good. The new kiosk should be up by the end of the
month. People will be able to take away a map and a bar code will be available for those wishing
to download the map. MRRA is selling advertising on the map to Brunswick Landing businesses
to defray the cost of the maps.
∑ Work is complete on the replacement doors on the north end of Hangar 4.
∑ The parking lot on Burbank (former Navy Exchange lot) is complete.
∑ Village Green Ventures’ anaerobic digester project is moving forward. Power is expected to be
generated by the end of the year.
∑ Harpswell Coastal Academy has moved into building 24. Eventually, they will own a building at
Brunswick Landing.
∑ The closing on Building 25 (former gym) should occur this month with Thomas Wright, who will
lease the facility to the Bath Area YMCA.
1
140
∑
∑
Mitch Rousseau’s Coastal Landing at the former Navy hotel is expected to open shortly.
There are now 18 businesses in TechPlace.
Federal Updates. The Defense Authorization Act has yet to be approved. The bill would make it
possible for anyone within 35 miles of Brunswick Landing to be in a HUBZone, rather than just within
the perimeters of the former base.
State Updates.
∑ Steve advised that the Governor is likely to appoint new Board members in January, noting that
the MRRA board currently consists of nine members.
Local Updates.
∑ Steve said attorneys are working through the language in the TIF with the Town of Brunswick.
He noted that there are some issues because the three TIFs were approved together.
∑ Steve noted that the Town of Topsham is getting quotes and working with the historic
preservation office regarding the demolition of building 333 in Topsham. The demolition
contract award will be taken up at the October Board meeting.
ID-IQ Contract Limit Adjustments.
Steve noted that with the recent rebidding process for HVAC work and award of bid to the Thayer
Corporation, staff reviewed the current dollar limits associated with all our indefinite
delivery/indefinite quantity contracts with regard to the dollar limits established for services on
repairs or renovations to buildings. These were originally established before we had received
buildings from the Navy. Now after a few years of experience with the actual costs of building
repairs and renovations, we would like to propose the following changes to the dollar cap limits:
Indefinite Delivery Indefinite Quantity
Service
Contractor
Current
Dollar Cap
Proposed
Dollar Cap
Cleaning
O’Neal Janitorial
$20,000
$10,000
Heavy Electrical
Enterprise Electric
$75,000
no change
General Contractor
Ouellette Associates
$75,000
no change
HVAC
Thayer Corporation
$25,000
$75,000
Interior Electrical
Favreau
$30,000
no change
Painting
Moore Painting
$30,000
$50,000
Plumbing
Damon Mechanical
$25,000
no change
Roofing
G & E Roofing
$40,000
$50,000
Action Item: Lois Skillings made a motion that the MRRA Executive Committee accept the proposed
dollar caps as outlined above, which was seconded by Rita Armstrong. The vote was unanimous of
the Committee members present.
2
141
Contract Awards.
∑
Sealed Cracks, Remark Pavement, and Improve Electrical on RW 1R-19L BXM: Steve gave an
overview of Hoyle Tanner’s recommendation for contract award, noting that while three bids
were received, the only qualified bid was from JJ Cunningham, LLC, which was approximately 15%
lower than the engineer’s estimate (bid amount $473,982.00).
Action Item: Lois Skillings made a motion that MRRA seek concurrence from the FAA and
MaineDOT in the award of the contract to JJ Cunningham, LLC for $473,982.00 and with such
concurrence, authorize the Executive Director to enter into a contract for the subject project
with JJ Cunningham, LLC, including receiving acceptable bonds and insurance from JJ
Cunningham, LLC at the time of execution of the contract. The motion was seconded by Steve
Weems. The vote was unanimous of the Committee members present.
∑
Hangar 6 Doors: Steve noted that the Hangar 6 Door Improvement award was approved at the
July 7 Committee meeting and awarded to Hardy Pond Construction.
Other Business. Steve noted the Great State of Maine Air Show was scheduled to take place over
Labor Day weekend (September 5 and 6). He said ticket sales looked good. He also advised of road
closures due to the air show, and that nursing homes, schools, doggie day cares and other facilities
had been called to give a head’s up to possible noise during practice days and the days of the show.
Executive Session. At 8:20 a.m., Steve Weems made a motion to go into Executive Session pursuant
to1 MRSA Sec. 405(6)(C)– (property disposition), which was seconded by Rita Armstrong. The vote
was unanimous of the Committee members present.
Adjournment. The meeting was adjourned at 9:10 a.m.
3
142
Executive Committee
Meeting Notes for Tuesday, October 6, 2015
Committee Members:
Treasurer Steve Weems, Secretary Lois Skillings, and John Moncure
Excused:
Chair John Peters and Vice Chair Rita Armstrong
MRRA Staff:
Steve Levesque, Tom Brubaker and Kathy Paradis
Others Attending:
Location:
MRRA, 15 Terminal Road, Suite 200, Brunswick, ME
The meeting was called to order at 7:30 a.m. by John Moncure.
Property Transfers/Leases. Steve advised that the two Finding of Suitability to Transfer (FOST)
scheduled for later this year have been delayed due to the possibility that groundwater at Brunswick
Landing is contaminated with Perfluorinated Chemicals (PFCs). One FOST has been delayed
indefinitely; the other will only allow for the transfer buildings (not land), which includes the hobby
shop, galley, former thrift shop and Sea Cadet building. Purchase and Sale Agreements are in place
for many of the buildings; however, with the FOST delayed, MRRA will obtain licenses from the Navy
to use the land and lease the properties. MRRA will also receive fee ownership in Hangar 4/Building
250, which currently has a FOSL (Finding of Suitability to Lease) in place, but as stated above, only
the building will be transferred, not the land because of the possibility of PFCs.
Property Sales/Lease Updates.
∑ The former gym (Building 25) was sold to Tom Wright. Tom will be leasing the property to the
Bath Area YMCA.
∑ MRRA is selling lots 30 and 32 adjacent to the Sunray Animal Clinic to Priority Group, which
Priority Group will sell to Avita Memory Center.
∑ MRRA is selling Lots 5 to the Priority Group at the entrance of the campus for a convenience
store, as well as Lots 11 and 12 (two houses on Admiral Fitch Avenue).
∑ The Chapel is being sold to the Brunswick Naval Museum and Memorial Gardens with MRRA
holding the note. Steve expressed his gratitude for the Navy working with MRRA to make this
sale happen.
Redevelopment Activity Update
∑ The Brunswick Landing campus is looking good. Trees are being planted in the medium along
Admiral Fitch Avenue at the entrance of the campus.
∑ The new kiosk is up. The only thing left is to populate the kiosk with an interactive map for
mobile devices (including a grid and legend) and paper take-away maps.
∑ Village Green Ventures’ anaerobic digester project is moving forward. Power is expected to be
generated by the end of the year.
∑ The snow removal equipment (SRE) building is under construction.
1
143
∑
∑
∑
∑
The hangar projects are nearly completed.
Leon Brillant has leased the former service station for his automotive repair business.
A lease has been signed for the former SCIF building with Smarter Risk (Charlie Largay). Smarter
Risk may also be leasing space from Cardente Properties’ building #639.
Steve said Wild Oats is vacating its premises at Brunswick Landing. He said it wasn’t because of
lack of traffic; rather the owners are retiring and wanting to just operate one café. Steve said
there were a number of entities interested in the space owned by Tom Wright.
Federal Updates. The Defense Authorization Act has been solidified by the various committees and
waiting for the President’s signature. Part of the bill would make it possible for anyone within 35
miles of Brunswick Landing to be in a HUBZone, rather than just within the perimeters of the former
base.
State Updates.
∑ Steve advised that the Governor is not appointing new Board members in January, noting that
the MRRA board currently consists of nine members.
∑ State Senator Stan Gerzofsky is resubmitting his Large Capital Formation Bill to the legislature.
Local Updates.
∑ The Brunswick Town Council unanimously approved the TIF Memorandum of Understanding
(MOU) last evening. Steve said he would be asking the Board for a ratification vote of its
consensus on the MOU at the October 14 Board meeting. The Town also authorized a first
payment of $200,000 in past due reimbursement. This paves the way to complete the TIF
amendment and develop the Credit Enhancement Agreement with the Town.
∑ Steve said he was attending the Planning Board Subdivision meeting tonight, noting that some
properties were pulled out because they haven’t received a FOST yet.
Contract Awards.
∑ Topsham Demolition: Steve said with the sale proceeds of the Topsham firehouse ($97,000),
MRRA had hoped to complete the demolition of the former Marine Compound and Building 333
in the Topsham Commerce Park; however, after getting quotes it became apparent that it would
be much too costly to demolish Building #333 because of asbestos abatement. To compound
matters, the State Historic Preservation Office is giving MRRA some pushback on demolishing
building #333 because it was designed by Alonzo Harriman. Instead of demolishing the building
#333, MRRA would like to remove and dispose of the concrete foundation components from
Topsham buildings #336, 337, 338 and 339; remove pavement and chain link fencing; and loam,
seed and mulch the disturbed area. McGee Construction was the low bidder in a competitive bid
process for the demolition work in 2013, and MRRA staff solicited budgetary pricing from them
on a sole source basis for this new demolition.
Action Item: Lois Skillings made a motion that the Executive Committee authorize the Executive
Director to award a contract to McGee Construction for the completion of removing and
disposing of the concrete foundation components from Topsham buildings #336, 337, 338 and
339; removing pavement and chain link fencing; and placing loam, seed and mulch the disturbed
area, which was seconded by Steve Weems. The vote was unanimous of the Committee
members present.
∑
Electrical Recloser Work: MRRA’s Public Works and Utility Manager, Tom Brubaker, summarized
the reasons why staff recommends that the Executive Committee should authorize the Executive
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Director to purchase reclosers and controls on a sole-source basis from Siemens and award a
sole-source contract to Enterprise Electric for the construction of the new 34.5KV recloser
station. One of the reasons is if a micro-grid is established at Brunswick Landing, it likely will
consist of Siemens’ equipment. Also, Electric is currently our electrical contractor (through a
bid process) and therefore will likely be performing maintenance of on the recloser.
Action Item: Lois Skillings made a motion that the Executive Committee authorize the
Executive Director to purchase reclosures and controls on a sole-source basis from Siemens at a
proposed price of $124,148; and award a sole-source contract to Enterprise Electric for the
construction of the new 34.5KV recloser station at Brunswick Landing in the amount of $351,171.
Executive Session. At 8:20 a.m., Steve Weems made a motion to go into Executive Session pursuant
to1 MRSA Sec. 405(6)(C)– (property disposition), which was seconded by Lois Skillings. The vote was
unanimous of the Committee members present.
Adjournment. The meeting was adjourned at 9:00 a.m.
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Redevelopment Committee
Meeting Notes for Wednesday, August 18th, 2015
Committee Members:
Committee Chair John Moncure, Steve Weems, John
Bouchard, and John Kilbourne
MRRA Staff:
Steve Levesque, Tom Brubaker, Robert Rocheleau, Kristine
Schuman and Ben Sturtevant
Absent:
George Gervais, DECD Commissioner, Marty McMahon,
Airport Manager
Others in attendance:
Location:
MRRA Offices, 15 Terminal Road, Brunswick Landing
Chairman John Moncure called the meeting to order at 4:02 p.m.
Redevelopment updates
Airport: In Marty McMahon’s absence, Steve Levesque reported on current and
upcoming projects at Brunswick Executive Airport. See attached Airport Update
submitted by Marty. Projects in the works include:
∑
∑
∑
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Approach Zone Obstruction clearing. This project is about 95% complete. Only
work left is to replace survey pins that were damaged during the project.
Renovations to fire protection building 295 is about 95% complete. Previously
failed pump has been repaired and is back in service.
Hangar 4 and 5 renovations are about 90% complete. Work includes new roll-up
doors on the north bay of Hangar 5, additional insulation to large doors on airfield
side and LED lights in center and south bays; Hangar 4 work includes new LED
lighting, south door renovated and reinsulated, the north hangar door was
removed and replaced with an insulated wall and smaller bifold door.
We are in the process of applying for and receiving grants for FY15 projects,
which include:
o Joint repairs to concrete slabs on Runway 1R/19L
o Hangar 6 door renovations, new mullion lifts
o Restoration of glycol capture system (de-icing)
o Remove center line lights from runway 1R/19L
o New striping for airport – a $1 million project to remove current paint and
then repaint it with new striping
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∑
∑
∑
Total cost of FY15 projects is well under the FAA budget amount so we are
renegotiating with the FAA to issue the remaining funds in a grant that would
allow us to complete additional work on Hangar 4 that would make the building
ready for occupancy. We are projecting between $500,000 and $700,000 being
available for this project, which would require a MRRA match of between $25$35K.
Final preps are underway for the Air Show, 9/5-9/6.
Marty has started to draft an application for the Military Airport Program (MAP).
Current enrollment expires in September at the completion of federal FY15. We’ll
be applying for inclusion into the FY16-FY20 program.
Steve Weems asked if MRRA had a good chance of being re-admitted. Steve said
he thinks so after meeting with the FAA. They were impressed with our progress and
are comfortable with us. We’ll know by 2016, but aren’t counting on anything until
the ink dries.
John Kilbourne asked about heating issues in Hangar 5 and why don’t we install
smaller doors to preserve heat. Steve said we’ll shut down the heating systems in
Hangar 5 and move the FBO’s planes to Hangar 4 this winter to save a lot of money
as Hangar 5 is 170,000 SF while Hangar 4 is only 60,000 SF.
Real Estate and Property Update: MRRA Property Manager Bob Rocheleau updated
the Committee on MRRA’s recent property dealings.
∑
∑
∑
∑
∑
Bob has been working with the Town of Brunswick on Subdivision Phase II near
the New England Tent and Awning and Frosty’s Donuts. The town advised that
we add a few more lots because currently there are buildings in that area, but no
land is delineated.
We will be selling two buildings (Sea Cadet building and Navy Thrift Store
building) to George Schott and the land will come once we own it.
Bob has also been participating in the Zoning Ordinance committee on MRRA’s
behalf, which is a laborious process. There are two more meetings scheduled
and the Town hopes to have a draft by then and wrap up the project by January.
Then the Town Council needs to adopt the ordinance.
Steve updated the committee on the Avita Memory Care facility project. We
should close on the land deal by next month and then construction should
commence in the fall.
We have purchase and sale agreements that are about to expire with Jim
Howard for the front convenience store project. We’re trying to get an update
today, but didn’t have it in time for today’s meeting.
Utilities and Environmental Update: Public Works, Utilities and Clean Technology
Manager Tom Brubaker debriefed the committee on recent utilities activities and the
environmental situation.
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∑
∑
Village Green Ventures’ anaerobic digester project continues to move along.
Construction is well under way with one of the three tanks up and assembled.
The goal is to be operational by November.
We have two capital improvement projects under way, including the recloser
project or switch upgrade, and the sanitary / sewer system that is under design to
rebuild the lift system, which may be a large source of our inflow and infiltration
issues.
Tom also provided a detailed report on the Perflourinated Compounds (PFCs) being
investigated by the Navy. See attached report on PFCs. Aqueous firefighting foam
(AFFF), which have been used by every major airport in the country, contained
some constituents of PFCs. The EPA is developing standards because the science
on the hazards of PFCs is being put together. Most likely, we’re looking at land-use
restrictions and ground-water restrictions in open space, airport and industrial areas.
TechPlace: Kristine Schuman updated the committee on the TechPlace
incubator/accelerator project at former building 250.
∑
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∑
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TechPlace now has 17 companies. We’ve added two new companies this month.
We’re now focused on getting the wet lab and shared manufacturing space and
machine shop projects moving forward.
Insphero will expand its own lab to 800 SF and use the shared space as well.
Baker Labs has agreed to donate a hood and incubator for the wet lab.
We’re looking to buy a 3D printer. Will spend about $5,000 for it.
We’re applying for an implementation grant from MTI to upgrade machinery and
equipment in the shared manufacturing space.
We’ve sent out a letter to companies asking for donations of used equipment and
machinery.
Other improvements to the building include sealing doors to prevent heat from
escaping so it will be cheaper to heat.
Marketing: Ben Sturtevant reported that MRRA is using its $50,000 “Invest in Maine”
grant monies for increased presence at tradeshows within our targeted industrial
sectors. MRRA is focusing its business attraction efforts on European and Canadian
companies. With these funds, MRRA staff is able to attend about twice as many shows
and conferences as we normally would in a typical year. We’ve been very busy in the
past few months with attending events around the U.S. and overseas. Shows include:
∑
Techtextil, Frankfurt am Main, DEU, May 4-7
∑
European Business Aviation Conference & Exhibition (EBACE), Geneva, SUI,
May 19-21
∑
JEC Composites, Houston, TX June 1-4
∑
Canadian Business Aviation Expo, St. Hubert, QC
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∑
BIO International Convention, Philadelphia, PA June 15-17
∑
Paris Air Show, Paris, FR June 15-21
∑
Biotech World Congress, Montreal, QC, July 20-23
∑
Composites Europe, Stuttgart, DEU, Sept. 22-25
∑
CAMX, Dallas, TX Oct. 26-29
Redevelopment Update
Steve provided a brief report on redevelopment projects. We’ve completed the signs
project for the front of campus. The signs are being lit by solar-powered lighting at night.
We cleared the corner of Fitch and Bath Road to improve visibility. We removed the
guard shack from the center island. We are in the process of installing an information
gazebo near the speed bump. We’re able to recycle an old mail center structure for this
project.
John Kilbourne asked about removing the speed bump from Fitch Ave., but Steve said
speeding is a problem out here and the police are not enforcing the speed limits and
we’re concerned about that.
We have several other project that are of note. The veterinarian clinic is now complete.
The Coastal Landing project is nearly complete and will open next month. We’ll be
closing on the fitness facility with Tom Wright very soon and it will be used by the Bath
YMCA. We’ll also be closing on the Chapel with Brunswick Naval Museum folks shortly.
Adjournment: The Committee meeting was adjourned about 5:18 p.m.
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August 12, 2015
Subject: AIRPORT UPDATE FOR AUGUST 2015 REDEVELOPMENT COMMITTEE MEETING
1. Current Airport Improvement Program (AIP) projects:
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Approach Zone Obstruction Clearing project is 95% complete. The only remaining action is
to replace the survey pins that were damaged or removed during the project. This is the last
project that will be completed under out FY2011 grants.
Fire Protection Building (295) Renovation is 95% complete. All work associated with the
original project has been completed and the previously failed pump has been returned to
service. We are waiting on completion of one change order that will replace a heat
exchanger on one of the pump engines. During the construction, the contractor found this
heat exchanger to be leaking and beyond repair.
Hangar 4&5 Renovation is 90% complete. All work in Hangar 5 is done with new roll up
doors on the north and south walls of the hangar, additional insulation and weather sealing
applied to the large hangar doors, and LED lighting installed in the center and south bays.
Hangar 4 also received LED lighting and the south door was completely renovated and
reinsulated. The north hangar door was removed and replaced with an insulated wall with
a large bi-fold door. Remaining work includes new epoxy floor covering and replacement of
the domestic water line that services Hangar 4 and Tech Place.
2. We are in the process of applying for and receiving our FY-15 grants. The estimated total FY15
construction program is just over $2.4M, which will require a MRRA match of $120K. FY15 projects
include:
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-
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Joint repairs to the concrete slabs at the south end of Runway 1R/19L. ($150K)
Hangar 6 Door Renovations, which will install new mullion lifts with fall-arrest systems.
Additionally, this project will make other minor repairs to the door mechanisms as
necessary. ($1.05M)
Restore the Glycol Capture System. This system was inoperable when turned over by the
Navy. This project will make the system fully functional, which will allow Flight Level
Aviation to offer deicing services during the winter months. (about $600K)
Remove Runway 1R/19L Centerline Lights. These lights are not supported by our new
airport lighting system and are not required for the instrument approaches at BXM.
Removing them will result in savings in our airport maintenance and snow removal budgets.
This project will also repaint all markings on the runway. (about $650K)
3. The total cost for our FY15 projects are well under the FAA budget amount. We are currently
negotiating with FAA to issue the remaining funds in a grant that would allow us to complete additional
work on Hangar 4 that would make the building ready for occupancy. Currently, we are projecting
between$500K and $700K being available for additional work on Hangar 4. This would require MRRA
match of between $25K and $35K.
4. Final preps are underway for the Great State of Maine Air Show, September 5th and 6th.
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5. I have started to draft our application for the Military Airport Program. Our current enrollment in
the program ends in September at the completion of Federal FY15. The FY16 MAP announcement is
expected in October or November and we will be applying for admission to the program for FY16
through FY20.
Respectfully,
Marty
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Prepared by: T.E. Brubaker, PE, CEM
31 July 2015
Subject: Perflourinated Compounds (PFCs)
Background:
Perfluorinated compounds (PFCs) are a group of emerging contaminants that
were not previously identified by EPA as contaminants of concern, and
therefore were not previously monitored for during previous investigations at NAS
Brunswick (Brunswick Landing). Toxicity information is incomplete and there are
currently no enforceable standards, although there are health advisories of 0.4
and 0.2 ug/l for the compounds perfluorooctanoic acid (PFOA) and
perfluorooctane sulfonate (PFOS), respectively. Maine also has established a
maximum exposure guideline (MEG) of 0.1 ug/l for PFOA.
PFCs are found in many common household products, although their use in
aqueous firefighting foam (AFFF) is of most significance at the former base.
Based on thermal stability and ability to repel oil and water, PFCs have been
used since the 1950s in products such as non-stick cookware, food packaging,
waterproof clothing, fabric stain protectors, lubricants, paints, and firefighting
foams, resulting in widespread distribution of PFCs in the environment.
AFFF has historically been used nationwide for firefighting at airports (both
military and civilian) including NAS Brunswick.
The National Institute of Environmental Health Sciences (NIEHS) and the National
Toxicology Program (NTP), an interagency testing program headquartered at
NIEHS, are studying many of these compounds.
According to NIEHS, PFCs break down very slowly in the environment and are
often characterized as persistent. There is widespread wildlife and human
exposure to several PFCs, including PFOA and PFOS. Both PFOA and PFOS are
byproducts of other commercial products, meaning they are released into the
environment when other products are made, used, or discarded. PFOS is no
longer manufactured in the United States, and PFOA production has been
reduced and will soon be eliminated. More research is needed to fully
understand all sources of human exposure, but people are most likely exposed
to these compounds by consuming PFC-contaminated water or food, or by
using products that contain PFCs. (1)
(1) Perflourinated Chemicals (PFCs), National Institutes of Health , U.S. Department of Health and Human Services,
September 2012
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Discussion:
PFCs are now a contaminant of concern for EPA nationwide. EPA has nominated
the PFC class to the NTP for study, due to concerns of:
∑ Widespread exposure to humans
∑ Persistence in the environment
∑ Observed toxicity in animal models
∑
Insufficient information to properly assess human health risk across the
entire structural class (1)
In 2014, the NAS Brunswick Technical Team (Navy, DEP, and EPA) decided to
begin an evaluation of PFCs at Brunswick Landing as some limited previous
sampling had identified presence of PFCs in groundwater. The initial sampling
program targeted potential source areas and included initial areas of potential
migration. The Navy investigation focused on sampling groundwater in areas
where aqueous film-forming foam (AFFF) was used or disposed of (discharged)
to determine absence or presence of PFCs. Sampling was also to be
conducted to evaluate whether PFCs, if present, have migrated from these
potential source areas.
The Navy conducted an extensive records search and interview process to
identify areas at which AFFF was most likely to have been used/disposed of at
NAS Brunswick (Brunswick Landing). A Navy contractor conducted historical
research and a site visit was conducted by a former navy Assistant Fire Chief
and Maine DEP to inspect areas where AFFF may have been used or disposed.
The Navy initially investigated PFCs in groundwater near the groundwater
extraction and treatment system (GWETS) where firefighting training events took
place. The purpose of this initial sampling was to identify source areas and
determine where impacted groundwater may have migrated to.
A sampling and analysis plan was developed and a field sampling program was
conducted in October and November 2014. Groundwater samples were
collected from 21 existing monitoring wells (including 17 site wells and 4
background wells), 15 new monitoring wells, and from the GWETS treatment
system to determine treatment efficiency for these compounds. The GWETS was
sampled from four locations – plant influent, HiPOx effluent, midpoint of GAC
system, and plant effluent. The Navy also sampled distribution (finish) water from
the Jordan Avenue Pump Station (BTWD). Sampling well locations are shown on
the following map.
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All monitoring well samples were analyzed for PFOS and PFOA. GWETS samples
were analyzed for 16 total PFCs to evaluate effectiveness of system on various
PFCs. The investigation also included collection of water level data to
determine groundwater flow direction.
From the initial round of sampling:
1. PFOS and PFOA were not detected in background wells or Jordan
Avenue finish wells
2. For the GWETS:
a. 8 of 16 PFCs not detected
b. Concentrations of PFCs other than PFOS and PFOA generally low
and consistent throughout GWETS
c. PFOS influent and HiPOx effluent exceeded EPA PHA criteria, but
PFOS in mid-point GAC and plant effluent were under EPA PHA
criteria suggesting GAC is removing PFOS
d. PFOA concentrations exceeded EPA PHA criteria in all GWETS
samples suggesting the GWETS is not removing PFOA
3. Exceedances of EPA and/or Maine criteria were detected in several
property-wide monitoring wells
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a. Former Building 653, fuel farm (maximum PFOS concentration
detection)
b. North of Hangar 6
c. Taxiway Alpha AFFF discharge area west of Building 292 (Fire house)
d. Near Building 252
e. Southeast of Hangar 4 and northeast of Hangar 5
f. AFFF discharge area south of airport apron
g. One location in northern portion of Eastern Plume (maximum PFOA
concentration detection)
Next Steps:
The Navy has submitted its draft Investigation Report to the regulators
The navy plans to:
∑ Sample the spring on the airport property across Bath Road on Jordan
Avenue for PFCs Summer/Fall 2015
∑ Evaluate the efficacy of using the GWETS to treat for PFCs
∑ Implement treatment options or conduct a pilot study at the GWETS
Summer/fall 2015
∑ Develop interim a long term monitoring program for PFOS and PFOA
property wide
∑ Refine their model for property wide distribution of PFOS and PFOA in
groundwater
∑ Refine its PFC long term monitoring program and conduct additional
monitoring as necessary
Impacts:
Draft FOST 2015-1 is currently out to the regulators for review and comment. EPA
has completed an initial review of this FOST and has determined that they
cannot concur that the four identified parcels are suitable for deed transfer in
part for the lack of full delineation of Perfluorinated compounds (PFCs)
associated with the Navy’s historical use of PFC-containing firefighting foams at
NAS Brunswick. They are requiring further ground water characterization of PFCs
to fully evaluate the environmental property conditions associated with these
emerging contaminants.
The evaluation of the environmental impacts of PFCs at Brunswick Landing has
definitely impacted the transfer of property under FOST 2015-1 and likely will
impact future transfers of property in areas where the Navy may have used or
otherwise disposed of AFFF or areas to which PFCs may have migrated.
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MRRA Board of Trustees Meeting - TIF MOA with Town of Brunswick
Memorandum of Agreement
THIS MEMORANDUM OF AGREEMENT is made as of the _____ day of October 2015
between Midcoast Regional Redevelopment Authority (“MRRA”), a public municipal corporation,
with principal place of business of 15 Terminal Road, Suite 200, Brunswick, ME 04011 and the
Town of Brunswick, a municipal corporation located in Brunswick, County of Cumberland and
State of Maine, with offices at 85 Union Street, Brunswick, Maine 04011 (hereinafter "the Town").
RECITALS
WHEREAS, MRRA is a public municipal corporation created by the Maine legislature for
the purpose of assisting with the successful redevelopment of the properties located within the
boundaries of the former Brunswick Naval Air Station (“BNAS”); and
WHEREAS, The Town of Brunswick designated two tax increment financing (“TIF”)
districts to assist with the redevelopment of BNAS: (1) the 146-acre Brunswick Executive Airport
II Municipal Development and Tax Increment Financing District (the “Executive Airport District”)
and (2) the 542-acre Brunswick Landing II Municipal Development and Tax Increment Financing
District (the “Brunswick Landing District”) (collectively the “TIF Districts”) in March 2013, and
the State of Maine Department of Economic and Community Development (“DECD”) issued
conditional approval of the TIF Districts on March 29, 2013; and
WHEREAS, the Town adopted a Development Program for both TIF Districts in July
2013 and DECD granted full approval of the two TIF Districts and the Development Programs for
both TIF Districts on October 24, 2013; and
WHEREAS, the two Development Programs set aside up to fifty percent (50%) of tax
increment financing revenues (“TIF Revenues”) for possible sharing with MRRA, and/or
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individual developers within the TIF Districts and set a total aggregate reimbursement cap to
MRRA of $12 million; and
WHEREAS, a portion of the TIF Revenues are sought by MRRA to support new
infrastructure investment or reinvestment in repair or replacement of existing infrastructure and
related physical improvements necessary to maintain the property and attract business within the
former BNAS; and
WHEREAS, MRRA has leased a portion of the property (“subject property”) to Kestrel
Aircraft Company, Inc. (“Kestrel”); and
WHEREAS, a dispute has arisen as to whether MRRA is entitled to the aeronautical tax
exemption pursuant to 36 M.R.S. § 651(1)(F); and
WHEREAS, MRRA has filed a civil action against the Town now pending in the
Cumberland County Superior Court, Docket NO. CV-2014-201 (“pending action”); and
WHEREAS, MRRA and the Town wish to avoid litigation; and
WHEREAS, as a resolution to the pending action, the parties to this Agreement intend to
have the Town Council amend the Development Programs to allow for an allocation of TIF
Revenues that is different from that which is currently set forth in the Development Programs and
intend to negotiate and enter into a credit enhancement agreement between the Town and MRRA
(the “CEA”) to memorialize the new allocation of TIF Revenues; and
WHEREAS, the parties understand and acknowledge that any future amendments to the
Development Programs will require approval of the Brunswick Town Council and the approval of
DECD pursuant to 30-A M.R.S.A. § 5226(5) and the parties further acknowledge that the CEA
will need approval of the Brunswick Town Council.
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AGREEMENT
NOW, THEREFORE, the Parties to this Agreement agree to the following:
1.
MRRA acknowledges that the Town and the Town’s assessor or agents shall be
responsible for the interpretation and application of any aeronautical property tax
exemption specified in Title 36 MRSA § 651 (the “exemption”). MRRA agrees
that MRRA and its assigns and successors shall not challenge or appeal the Town’s
interpretation and application of the exemption, and further agrees that all future
leases of property in the Executive Airport District shall include language
substantially to the effect that: MRRA and not Lessee is the taxpayer; MRRA has
sole decision-making authority regarding real estate taxes for the property,
including deciding whether to apply for any possible tax exemptions or tax
abatements; and that Lessee agrees that Lessee will not claim third-party status as
the taxpayer, will not challenge the tax treatment of the property in any way,
including applying for a tax exemption or tax abatement; and Lessee agrees that any
violation of these tax-related provisions will be deemed a default under the Lease.
2.
Should subsequent legislative action or judicial interpretation result in the Town
changing its interpretation and application of the aeronautical property tax
exemption causing the values of Hangars 4, 5, and 6 to become tax exempt, MRRA
agrees that the aggregate TIF Revenues reimbursement cap specified in the CEA
shall be reduced to correspond to the dollar amount of the property tax exemption.
3.
Upon each payment of property taxes paid on the real property located inside the
TIF Districts, the Town will deposit into the development program fund described
in the Development Programs for the TIF Districts (the “Development Program
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Fund”) the entirety of the property tax payments constituting TIF Revenues. The
Development Program Fund contains a Project Cost Account that has subaccounts
for the Town and for Base Redevelopment. The Base Redevelopment subaccount
of the Project Cost Account is to be used to fund payments to MRRA and/or
individual developers within the Districts.
4.
From the Development Program Fund, the Town will deposit equal amounts into
the subaccounts of the Project Cost Account, using the following method.
a. Base Redevelopment subaccount:
i. one hundred percent (100%) of the TIF Revenues generated by
“aeronautical business” (as defined herein) tenants within Hangars 4, 5
and 6 (parcels 040-250, 040-005 and 040-006 respectively, as further
shown on Exhibit A) in the Executive Airport District, and
ii. fifty percent (50%) of the TIF Revenues generated by all other tenants
within Hangars 4, 5 and 6 (parcels 040-250, 040-005 and 040-006
respectively, as further shown on Exhibit A), and all other properties
within the Executive Airport District, and
iii. twenty-five percent (25%) of the TIF Revenues generated by the
Brunswick Landing District.
iv. an amount, to be determined and only if needed, of the TIF Revenues
generated by the TIF Districts, to equalize the annual amount in the
Base Redevelopment subaccount to fifty percent (50%) of the total
annual TIF Revenues from both TIF Districts.
b. Town subaccount:
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i. fifty percent (50%) of the TIF Revenues generated by all other tenants
within Hangars 4, 5 and 6 (parcels 040-250, 040-005 and 040-006
respectively), and all other properties within the Executive Airport
District, and
ii. seventy-five percent (75%) of the TIF Revenues generated by the
Brunswick Landing District.
iii. an amount, to be determined and only if needed, of the TIF Revenues
generated by the TIF Districts, to equalize the annual amount in the
Town subaccount to fifty percent (50%) of the total annual TIF
Revenues from both TIF Districts.
c. Periodically, any TIF Revenues that remain deposited in the Base
Redevelopment subaccount of the Project Cost account that are not allocated to
either MRRA or a developer will revert back to the Town’s subaccount of the
Project Cost Account.
5.
For the purpose of this Agreement, "aeronautical business" means the act, practice
of, or instruction in the art and science of transportation by aircraft, and operation,
construction, repair or maintenance of aircraft, airports and air navigation facilities.
Such uses shall include:
Air carrier. "Air carrier" means a person who undertakes, whether directly or
indirectly or by lease or other arrangement, to engage in air commerce and is
certificated under Federal Air Regulations.
Air commerce. "Air commerce" means the carriage by aircraft of persons or
property for compensation or hire, when that carriage is a major enterprise for
profit and not merely incidental to a person's other business.
Aircraft Construction. “Aircraft construction” means the design, construction,
manufacturing or assembly of aircraft that would require the presence of an airfield
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as an integral part of its business operation for the design, testing, sale or
distribution of aircraft.
Aircraft dealer. "Aircraft dealer" means any person engaged in the sale or
purchase or manufacture of new or used aircraft.
Air navigation facility. "Air navigation facility" means any facility used in,
available for use in, or designed for use in aid of air navigation, including airports,
lights, any apparatus or equipment for disseminating weather information, for
signaling, for radio-directional finding, or for radio or other electrical
communication, and any other structure or mechanism having a similar purpose for
guiding or controlling flight in the air or the landing and takeoff of aircraft.
Air taxi. "Air taxi" means a person who undertakes, whether directly or indirectly
or by lease or other arrangement, to engage in air commerce and who possesses an
Air Taxi Commercial Operators Certificate issued by the Federal Aviation
Administration under 14 Code of Federal Regulations, Part 135.
Aviation Fueling Facilities. “Aviation Fueling Facilities” means entities that
provide aircraft fueling services.
Basing aircraft. "Basing aircraft" means storing, parking, tying down or mooring
aircraft in Maine for more than 30 consecutive calendar days.
Maintenance, Overhaul or Repair (MRO) “MRO” means any business or entity
involved in the maintenance, overhaul or repair of aircraft, aircraft components and
aircraft completions.
6.
The Town will amend the Development Programs for the Executive Airport
District and the Brunswick Landing District to reflect the terms set forth in this
Agreement.
7.
The Town will further amend the Development Programs for the Executive Airport
District and the Brunswick Landing District to establish the aggregate cap on
potential TIF Revenues to be available (not guaranteed) to MRRA over the life of
the TIF Districts as a total of $15 million. This cap on potential TIF Revenues to be
available (not guaranteed) to MRRA is subject to change as specified in item #2 of
this Agreement.
6
161
8.
The Town will include in the CEA: (a) a provision setting forth the mechanism
through which MRRA will apply for TIF Revenues; and (b) the procedures
governing the Town’s payment of TIF Revenues to MRRA when such payments
have been approved by the Town.
9.
The Town agrees that once the amended Development Programs have received
final approval from DECD, any and all TIF Revenues collected by the Town from
the TIF Districts since July 1, 2013 shall be allocated between the subaccounts of
the Project Cost Account as set forth in the amended Development Programs. It is
the Town’s intent that the provisions of the amended Development Programs will
be consistent with the terms of this Agreement.
10.
Notwithstanding anything to the contrary contained in this Agreement, the
obligations of the parties set forth in this Agreement, including but not limited to
the obligation to allocate TIF Revenues to the Base Redevelopment subaccount and
to make such TIF Revenues available to MRRA, are conditioned on both amended
Development Programs receiving full and final approval by DECD, and further
conditioned on the Town and MRRA negotiating and executing a CEA that is
consistent with the terms of the amended Development Programs.
11.
Upon execution of this Agreement, MRRA and Town will file a joint motion to
stay proceedings in the pending action for 120 days with the Cumberland County
Superior Court in a similar form to the document attached as Exhibit B.
12.
Upon the approval and adoption of a CEA between Town and MRRA and upon
final approval of amendments to the Development Program by DECD, all terms
7
162
and conditions described in this Agreement shall be superseded and integrated into
the CEA.
13.
At such time as the CEA and the amendments to the Development Programs are
approved by the Brunswick Town Council and the DECD, respectively, MRRA
shall file a motion to dismiss the lawsuit with prejudice and without costs.
IN WITNESS WHEREOF, each party to this Agreement has caused it to be executed effective
on the date indicated above, and certifies that the execution and delivery of this Agreement has
been duly authorized by all necessary action.
TOWN OF BRUNSWICK
____________________
John Eldridge
Town Manager
____________________
Steven Levesque
Executive Director
8
163
MRRA Board of Trustees Meeting - Executive Director's Report
To:
From:
Subj:
Date:
MRRA Board of Trustees
Steve Levesque, Executive Director
Director’s Report
October 6, 2015
The purpose and intent of this report is to briefly update the MRRA Board of Trustees about
current activities related to MRRA operations and the NASB closure process.
∑
Property Conveyances
Since the approval of the Public Benefit Conveyance and the signing of the Economic Development
Conveyance Purchase and Sale Agreement in 2011, the Navy has transferred approximately 1,761
acres of the approximately 2,100 acres we are slated to receive. The next transfers are expected
in this fall. However due to the un-surety of FOST clearances because of PFC issues (see attached),
it is unclear how many properties will actually be transferred. It is clear that the PFC issue will
substantially delay future property transfers.
Public benefit conveyances of land and buildings have been made or are in the process of being
conveyed to Southern Maine Community College, Bowdoin College, Town of Brunswick and Family
Focus. All the remaining properties at the former NASB and Topsham Annex will be conveyed
once appropriate environmental clearances are obtained.
∑
TechPlace
TechPlace now consists of about 70,000 sf of office, industrial and common spaces. We are excited
to report that we have 17 companies located in the facility and we continue to see significant
interest from additional companies. It’s also exciting that several existing companies have
expanded their original presence and have taken more space. Currently, these businesses occupy
nearly 9,000 square feet, or 23% of the available space.
In addition to our tenant’s use of the facility, TechPlace has already been utilized by a number of
partner organizations for training and networking events. We re-commenced our business
information and educational series in September.
Page 1 of 7
164
With the $299,000 grant from MTI secured, we are commencing the construction and outfitting of
the shared bio-lab and tech-shop spaces. These projects are expected to be completed in
December.
∑
Federal Update
HUBZone Legislation
As I reported last meeting, we have seen some significant movement on this legislation. Due to the
perseverance of our Congressional delegation members, there is now supported language in both
the House and the Senate versions of the 2015 National Defense Authorization Act (NDAA), which
is awaiting approval. This was a substantial shift for the House compared to last year’s efforts.
The House and Senate have agreed on the final language, which was supported by the respective
Small Business Committees. We are now awaiting the final NDAA enactment by Congress and the
President.
The final language will make small businesses within the census tracts, including and adjacent to
the former base facilities, eligible for HUBZone benefits. These include businesses within census
tracts in the communities most impacted by the base closure (Brunswick, Bath, Harpswell, West
Bath, Topsham and Lisbon).
We are so fortunate and thankful to continue to have a non-partisan unified congressional
approach to supporting this redevelopment effort.
Local Community Updates
∑
Town of Brunswick
We continue to work with the Town of Brunswick staff on several fronts: life safety code
compliance on building rehabilitation, facilitation of development permitting, and providing input
into the Town’s zoning ordinance update. In addition, we have submitted a subdivision plan to
include properties added in recent conveyances adjacent to the former police station and Frosty’s.
This will permit the acquisition of the building by Frosty’s that they are currently leasing and
facilitate other future sales in that area. The Planning Board gave final approved this Subdivision
on October 6th.
∑
Town of Topsham
Now that MRRA is in receipt of new properties in Topsham from the Navy, staff is working with
SAD 75 and Affordable Mid Coast Housing on the conveyance of the open space portions pursuant
to a previous agreement between the parties.
We have closed on the sale of the former fire station and will be using those proceeds to remove a
remaining foundations of previously demolished buildings and perhaps a blighted building. While
we will be removing the foundations and fencing where the former Marine Corps Reserve facility
2
165
stood, we are re-evaluating the demolition of the former Army Reserve facility versus investing in
its improvement and try to sell or lease it.
Redevelopment Activity Review
∑
General Overview
Property lease and sale activity continues to be very brisk at Brunswick Landing and the Topsham
Commerce Park. We currently have over 374,061 SF under lease to over 20 direct tenants and
nearly 80 entities doing business on the former base properties. Collectively, these entities
employ approximately 566 people on a full-time basis and 166 on a part-time basis for a total of
733 with a promise of double that number in just a few short years (see attached employment
table). It should also be noted that there are 160 Maine Army National Guard members and 124
Marine Corps Reservists assigned to their units at Brunswick Landing. In addition, the new L.L.
Bean project at Brunswick Landing will result in the creation of up to 75 new jobs at the off-site
Brunswick manufacturing facility. On the sale side, we have an additional 60,000 SF and
approximately 40 acres under contract.
When we account for the latest Navy conveyances and the property we have sold, MRRA currently
owns approximately 1,430 acres of land and 957,857 SF of building space. To date we have sold
over 335 acres of land and 34 buildings (i.e., over 650,000 SF). The properties that we have sold
are all undergoing further redevelopment. The most recent sale of the former base gymnasium to
Tom Wright has been rehabbed and is now a new Bath Area YMCA-Brunswick Landing facility.
To date, the redevelopment effort has welcomed nearly $250 million in private and public sector
investments ($200 million private, $50 million public) made into the properties over the past four
years. In addition to the attraction of individual business entities, we have been fortunate to
attract five major real estate developers who are acquiring and redeveloping properties at both
Brunswick Landing and the Topsham Commerce Park. In fact, several of these companies are
applying revenue proceeds from subsequent sales and leases at the former base to reinvest in
other properties here.
New private and public construction activity in 2015 totaling nearly $50 million at Brunswick
Landing and the Topsham Commerce Park include:
ÿ the construction of the new Sun Ray veterinarian clinic on Admiral Fitch Avenue by the
Priority Group (completed);
ÿ a major renovation to the former Navy Hotel to complete Coastal Landing, a senior
housing complex, by Rousseau Enterprises;
ÿ the construction of the anaerobic digester facility by Village Green Ventures;
ÿ the construction of a 50,000 SF memory care facility on Admiral Fitch Avenue by Avita
Brunswick;
ÿ the sale and renovation of the former Topsham Fire Station by Firehouse Tumbling;
ÿ the renovation of the former Night Flight building by George Schott;
ÿ the renovation of the former Navy fitness center by Thomas Wright;
3
166
ÿ
ÿ
ÿ
ÿ
ÿ
the construction of a new snow removal equipment (SRE) building by MRRA;
TechPlace renovations by MRRA;
Energy improvements and renovations to Hangars 4 and 5 by MRRA;
renovations to the airport fire pump facility by MRRA; and
Airfield drainage improvements by MRRA.
In addition the current construction activity, several other commercial and office buildings are
scheduled to commence construction next spring along Admiral Fitch Avenue and adjacent
properties.
∑
Housing Sales
To date, Affordable Mid Coast Housing has closed on 168 housing units in the McKeen Street
neighborhood, and a number of others are under contract. By our agreement with AMH, after
$1,000,000 in land sales have been realized (i.e., 20% of the purchase price), MRRA receives 5% of
the purchase price of each unit sold. Land sales now total $3,384,734 and MRRA has received
$846,073.50 to date for its agreed share.
∑
Marketing Update
It has been a very busy third quarter for MRRA staff on the business attraction marketing effort.
Since receiving the Invest in Maine grant award, we have attended a number of trade shows aimed
at promoting our assets and securing foreign direct investment focusing on European and
Canadian companies. These efforts are starting to bear fruit, as we have now hosted several visits
from foreign companies that we met at these shows.
4
167
BRUNSWICK LANDING/TCP EMPLOYEE UPDATE
Number of
Employees at
Inception
Number of
Full-time
Employees
as of 10/1/15
American Bureau of Shipping
22
24
23
Beltane
2
2
2
Blue Dog
2 FT/2 PT
5
3 FT
3
Tenant/Owner
Brillant and Son's
Number of
Part- Time
Employees as
of 10/1/15
2
STEM SECTOR
EMPLOYEES
0
Brunswick Naval Museum
Volunteers (15)
0
Brunswick Sewer District
6
6
1
1
Brunswick, Town of
4
10
30
0
Day One
4
Family Focus
8
0
4
0
FGS/CMT, Inc.
3
1
1
Firehouse Tumbling, LLC
3
3
0
Flight Level Aviation
4
4
3
0
Frosty's Donuts
0
19
2
0
Goodwill Workforce
1
1
0
Harpswell Coastal Academy
11
11
3
Harris Golf
1
2
0
Hoyle Tanner
5
5
Jamaport (Storage)
0
0
0
Kornetsky (Ellen), LCSW
1
1
0
Kestrel Aircraft
0
5
L.L. Bean's
0
2
0
18
16
1
0
Maine Army National Guard
Maine Coastal Flight
1
4
Maine Dept. of Corrections
6
0
Maine Technology Institute
8
10
0
Maine Tool & Machine
5
10
N/R
Midcoast Veterans Center
Volunteers (20)
0
MRRA
6
12
Molnlycke Health Care
20
54
4
2
18
5
168
Number of
Employees at
Inception
Number of
Full-time
Employees
as of 10/1/15
Number of
Part- Time
Employees as
of 10/1/15
STEM SECTOR
EMPLOYEES
1 FT 3PT
3
2
0
Opportunity Alliance
1
1
N/R
Oxford Data Center
10
23
23
Tenant/Owner
O'Neals Janitorial
Providence Service Corporation
158
20
0
Rollease
0
12
0
9
SaviLinx, LLC
3
24
1
10
SeaChange
0
0
0
Seeds of Independence
2
3
0
Smarter Risk
SMCC Midcoast Campus
Starting November
6.5 and 18 PT
17
SMMC
2
1
0
Sunray Animal Clinic
15
15
0
TBW, LLC
2
2
0
Tempus
11
8
4
University College
5
4
20
0.5
University of Maine
2
4
6
4
U.S. Marine Reserve Center
10
9
0
U.S. Navy
1
1
N/R
UMA Aviation Program
56
17.5
Coming in Fall
Wicked Joe
12
19
3
0
TOTALS
152
532
160
140
TechPlace
Aerotech Surgical
Atayne
Bourgeois Guitars
Drummond Woodsum
GHG Underground
Greisen Aerospace
Grifin LLC
Harbor Digital
InSphero
JRD Holding
Kenway/Harbor Technologies
Maine MEP
Maritime Surveillance Assoc.
1
6
1
2
3
1
1
2
1
0
1
1
1
1
3
1
1
0
2
5 PT
5
1
1
1
1
1
1
3
2
2
1
1
1
1
4
1
3
2
2
1
6
169
Tenant/Owner
STARC Systems
University of Maine
Village Green BL
Wireless Sensors
TOTALS
GRAND TOTALS
Number of
Employees at
Inception
1
1
2
2
25.5
Number of
Full-time
Employees
as of 10/1/15
3
1
2
2
34
Number of
Part- Time
Employees as
of 10/1/15
6
STEM SECTOR
EMPLOYEES
1
0
2
1
19
177.5
566
166
159
Not included in totals:
L.L. Bean's:
50-75 Employees
BL lease supports 50-75 mfg jobs in Brunswick Industrial Pk
Maine Army National Guard:
160 Guardsmen
All STEM
U.S. Marine Reserve Center:
124 Reservists
7
170

MRRA Board Meeting October 14, 2015 at 4:00 P.M. Topsham Town

Transcription

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