Miner Cash Flow Project Presentation
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Randy Parry made the following presentation at "Summit:09" in South Haven, Michigan.

Randy Parry made the following presentation at "Summit:09" in South Haven, Michigan.

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  • 1. Summit: 09South Haven, MichiganThe Cash Flow Project
    Friday, November 6, 2009
    Randy Parry, President
  • 2. History
    1995--two faculty members and two students met with other state community members at SDSU
    Mini-grant from PRSCR covered expenses
    FBLA used this as a service project
  • 3. SilentParticipantLeader
    Staff
    Facilities
    Technology
    Curriculum
    Students
    Schools & Community/ Economic Development
  • 4. Create more interest in and understanding of American business
    Encourage members in the development of projects which contribute to the improvement of home, business, and community
    Encourage and practice efficient money management
    Purpose of the Cash Flow Survey
    www.fbla-pbl.org
  • 5. Students
    Developed Survey
    Residents
    Respond
    Students Shared Analysis
    Students Analyzed Data
    Community
    Benefited
    Process
  • 6. Survey Categories
    Gasoline/Supplies
    B. Automotive Repairs
    C. Food/Beverage/Recreation
    D. Prescription/Medical Supplies
    E. Groceries
    F. Clothing
    G. Gifts
    H. Lumberyard Products/Hardware
    I. House wares/Personal Care Items/Other Retail
    J. Basic Health/Medical Services
  • 7. A. Gasoline- 12% F. Clothing- 7%
    B. Automotive Repairs- 7% G. Gifts- 4%
    C. Food/Beverage- 12% H. Hardware- 5%
    D. Prescription/Rx Supplies- 12% I. House wares- 5%
    E. Groceries- 24% J. Basic Health- 12%
    What percentage of your disposable income do you spend on the following purchases?
  • 8. A. Gasoline- 62% F. Clothing- 12%
    B. Automotive Repairs- 63% G. Gifts- 22%
    C. Food/Beverage- 44% H. Hardware- 48%
    D. Prescription Supplies- 42% I. House wares- 29%
    E. Groceries- 58% J. Basic Health- 46%
    What percentage of your disposable income do you spend on the following purchases IN MINER COUNTY?
  • 9. Percent increase of total spent = 10%
    Economic spending factor = 3.1
    Number of people = 600
    What if?…
  • 10. Income Level = $22,000
    Total amount spent in Miner County = $10,379.60
    10% increase of buying in Miner Co. = $1,037.96
    Total income spent after % increase = $11,417.56
    Total increase of all categories = $622,776.00
    Projections
  • 11. Total increase of money spent within Miner Co. based on a specific number of people (600) with this income level = $622,776.00
    Total increase in disposable spending times the economic spending factor of 3.1 for this income level = $1,930,605.60
    Total increase in disposable spending in Miner Co. based on the ten categories for all income levels = $2,302,384.00
    Total increase in disposable spending times the economic spending factor of 3.1 for all income levels = $7,137,390.40
    Disposable Spending Calculations
  • 12. 1996 Gross sales -- $37,997,374.11
    1997 Gross sales -- $53,614,358.60
    Gross sales increased $15,616,984.49
    Overall increase of 41.1% from the previous year.
    In Miner County...
  • 13. Selected Survey Results: Income Level $22,000 Total increase in disposable spending*: $1,930,605.60
    Number of People: 600     Economic Factor: 3.1     Increase in Local Spending: 10%
  • 14. Miner County Historical Population Trend
  • 15. Miner County Population
  • 16. Miner County Personal Income by Source 1990
  • 17. Miner County Personal Income by Source 2004
  • 18. Is there any hope?
  • 19. Miner County Taxable Growth
  • 20. Howard Sales Tax Revenue
  • 21. Miner County Tax Levies
  • 22.
    • Cash Flow Project
    • 23. The actual amount of increased gross sales was $15,600,000.
    • 24. It was an overall increase of 41.1% from the previous year.
    Investing In & Supporting the Local Economy
  • 25.
    • Improving & Communicating Access to credit
    • 26. Supporting & Facilitating Renewable Energy Industry
    Development
    • Supporting & Enhancing Systems of Business Recruitment,
    Expansion & Retention
    • Developing & Implementing Community Beautification
    Programs
    • Creating & Providing Access to Systems of Affordable
    Quality Childcare
    • Facilitating Development & Promotion of Local Tourism
    • 27. Developing & Building Rural Learning Center
    Economic DevelopmentInvesting In & Supporting The Local Economy
  • 28. Are not understood or underestimated by rural communities
    Stimulate and create economic growth
    Impact positively by employing people, accessing capital, exporting products and services
    Travel beyond the community into the region, nation, and world
    Import Sourcing of people, jobs, investment vs. outsourcing
    Economic Engines
  • 29. Renewable Energy
    Organic Beef
    Rural Learning Center
    Telemedicine/Rural Health/Seniors/Retirees
    School System
    Miner CountyEconomic Engines
  • 30. Development Corps
    Faith
    Community
    Miner County Heritage Fund
    County
    Cities
    Financial Institutions
    Community
    Leadership
    Council
    Community
    Organizations
    Schools
    RLC
    Capacity Building
    RLC Economic
    Development
    RLC
    Housing
    Informed,Collaborative
    Decision-Making
  • 31. The purpose of the Community Leadership Council is to facilitate local leadership that is:
    • Committed to Working Together
    • 32. Able to Think and Act Creatively
    • 33. Open to redefining “Community Boundaries”
    • 34. Willing to Do Things Differently
    Knowledge, Ideas & Community-based Perspective
  • 35.
    • Living Wage Jobs Created With Benefits
    • 36. 63 Jobs in Howard, SD is comparable to 7875 Jobs In Sioux Falls, SD
    Renewable Energy Economic Impact
  • 37.
    • For every student coming into the school district is $4,350 in state support
    Renewable Energy Economic Impact
  • 38. County’s Gross Sales and Retail Sales Taxes at all time highs
    Increase in Tax Base for Community Services
    Renewable Energy Economic Impact
  • 39. Housing Rentals and Sales Increase
    Renewable Energy Economic Impact
  • 40. Export based industry= money in, not money out
    Renewable energy sector brings new individuals to Miner County, and adds to the knowledge economy
    Renewable Energy Economic Impact
  • 41. Economic Impact Analysis Classes were held to study the impact of Health Care in Miner County
    IMPLAN Workshop
  • 42. Manufacturing Sectors Income Multiplier Impact
    Knight & Carver $4,824,272 1.16 $5,623,349
    Energy Maintenance
    Systems $1,507,584 1.16 $1,757,296
    TOTALS $6,331,856 $7,380,645
    Miner County Renewable Energy Impact on Income
  • 43. Manufacturing Sectors Income Multiplier Impact
    Knight & Carver 48 1.24 59.6
    Energy Maintenance
    Systems 15 1.24 18.6
    TOTALS 63 78.2
    Miner County Renewable Energy Impact on Employment
  • 44. Miner County Proportion of Total Personal Income by Source 1990-2004
  • 45. Seniors
    • Over 800 residents over the age of 62
    • 46. Over $12 million in transfer payments per year
    • 47. Volunteer In-Kind Value “Priceless”
    • 48. Pool For Investment Capital
    • 49. Treasure Chest of Knowledge
    • 50. Support groups—Business, Church, Childcare, etc.
    • 51. Healthcare availability is essential to the sustainability
    and growth of Rural America
    • If 5 Seniors leave, it’s like a small business leaving
    your community
  • 52. Health Sectors Employment Multiplier Impact
    Doctors, Dentists, &
    Other Medical
    Professionals 22.4 1.35 30.3
    Nursing Home
    & Pharmacies 118.1 1.24 146.5
    TOTALS140.5 176.5
    Miner County Health Sector Impact on Employment
  • 53. Miner County Health Sector Impact on Retail Sales and Sales Tax Collections
    Retail 1 Cent
    Health Sector Sales Sales Tax
    Collection
    Doctors, Dentists, & Other
    Medical Professionals $680,999 $6,810
    Nursing Home &
    Pharmacies $1,269,314$12,693
    TOTALS $1,950,313 $19,503
  • 54. Transfer Payments are Very Important
    to the Local Economy!
    24 Residents x Social Security Payment ($10,800 Avg) = $259,200
    24 Residents x Medicare Payments ($5,900 Avg) = $141,600
    Total $ 400,800
    For example:
    Assisted Living Facility Impact
  • 55. Partners’ Fuel $20,978,738
    Partners’ Understanding and Collaboration $Priceless
    Investment In Strategic Plan 2005
  • 56. What you’re seeing here today is what happens when a community comes together and believes in the future of their community. This is an example of what happens when you start the long-term plans and put your resources together.
    Mike Rounds, South Dakota Governor
  • 57. Thank You!
    www.rurallearningcenter.org
  • 58. Educate Leaders
    Economies of Scale vs. Dis-Economies of Scale
    Time Convergence
    Companies move in for lower costs
    Worry that there might not be enough workers
    Workers move in for quality of life
    Worry that they will not be able to get a job
    Community Building a priority
    Long-Term Strategy & Vision
    Grassroots Action coordinated with City, State and Federal strategic resources
    Start Your Community Engines
  • 59. It’s All Connected