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<br />Consent# <br /> <br />, , <br /> <br />REVIEW AND ADOPT 2008 ECONOMIC DEVELOPMENT AUTHORITY <br />OPERATING BUDGET <br />By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />Attached for your review and consideration is the 2008 Proposed Economic Development <br />Authority Budget. This budget will be funded by the EDA levy thatwas adopted on December <br />11, 2007, and represents the same total expenditures and revenues as was adopted for the 2007 <br />EDA budget. <br /> <br />This budget includes expenditures for salary costs of various levels of city staff, professional <br />services for outside consulting services such as those offered by Mike Mulrooney. And <br />allowances for economic development programs including participation in the business expo, <br />annual business appreciation day and entry signs into the City. <br /> <br />Also attached to this case is a resolution amending the 2007 activity. This is primarily a <br />"housekeeping" item and is done on an annual basis. The projections through the end of the year <br />are based on actual activity. <br /> <br />Funding Source: <br /> <br />Budget is supported by the 2008 property tax levy. <br /> <br />Staff Recommendation: <br /> <br />Approve attached Resolution #08-0 I-XXX Adopting the 2008 Economic Development Authority <br />Operating Budget; <br /> <br />And <br /> <br />Approve attached Resolution #08-0I-XXX Amending the 2007 Economic Development <br />Authority Operating Budget <br /> <br />Council Action: <br /> <br />Motion to recommend Council adopt Resolution #08-0I-XXX Adopting the 2008 Economic <br />Development Authority Operating Budget, <br />And <br />Motion to recommend Council adopt Resolution #08-0I-XXX Amending the 2007 Economic <br />Development Authority Operating Budget. <br /> <br />Reviewed by: Q <br /> <br />City AdministTator:~_ <br />Finance Officer <br /> <br />CC: 0118/08 <br /> <br />-89- <br />