Legacy MLC Business Plan LegacyMLC_Business_Plan_040119

FINANCIAL STRATEGY Legacy MLC’s 5-year budget demonstrates that Legacy MLC will not be dependent on Lac Ste. Anne County for its ongoing operations. 5-Year Budget The reinvestment of the proceeds of the individual projects undertaken by Legacy MLC will be the key to its financial success. Over time, Legacy MLC will build financial capacity and momentum to take on larger and more numerous projects capitalizing on its own success to do more for the benefit of our residents. As illustrated in the five-year budget, Legacy MLC’s initial project (ORMC Facility) will provide sufficient revenues to generate a profit beginning in the second year. This single project is capable of supporting Legacy MLC’s operations for the full 25 years of the project repayment and at the end will leave Legacy MLC with a project fund of more than $60,000. Of course, long before that time Legacy MLC will undertake additional projects reinvesting the proceeds of its operations back into communities growing on our previous success. The following demonstrates Legacy MLC will not be dependent on the County for its ongoing operations: LEGACY MLC 5-Year Budget (2019-2023) UPDATED: FEB 21, 2019 2019 Budget 2020 Budget 2021 Budget 2022 Budget 2023 Budget ORMC Facility Loan Revenue $ 1,000,000.00 $ ORMC Facility Lease Payments $ - $ - $ - $ - $ 71,750.00 $ 71,750.00 $ 71,750.00 $ 71,750.00 Total Revenue $ 1,000,000.00 $ 71,750.00 $ 71,750.00 $ 71,750.00 $ 71,750.00 Administrative Support $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 Business Insurance $ 500.00 $ 500.00 $ 500.00 $ 500.00 $ 500.00 Audit Services $ 3,000.00 $ 3,000.00 $ 3,000.00 $ 3,000.00 $ 3,000.00 Office Supplies $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 Other $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 $ 1,000.00 ORMC Facility Construction $ 1,000,000.00 $ ORMC Facility Loan Repayment $ $ 58,300.00 $ 58,300.00 $ 58,300.00 $ 58,300.00 Total Expenses $ 1,010,500.00 $ 68,800.00 $ 68,800.00 $ 68,800.00 $ 68,800.00 Net Income (Deficit) $ 2,950.00 $ 2,950.00 $ 2,950.00 $ 2,950.00 Opening Reserve Balance $ $ (10,500.00) $ (7,550.00) $ (4,600.00) $ (1,650.00) Net Income (Deficit) $ (10,500.00) $ 2,950.00 $ 2,950.00 $ 2,950.00 $ 2,950.00 Closing Reserve Balance $ (10,500.00) $ (7,550.00) $ (4,600.00) $ (1,650.00) $ 1,300.00 - (10,500.00) $ - Municipally Controlled Corporation Business Plan - $ - $ - $ - .6

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