Resolution - #08-12-235 - 12/09/2008

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Councilmember Olson introduced the following resolution and moved for its adoption: RESOLUTION #08-12-235 RESOLUTION AMENDING THE 2008 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET WHEREAS, during the year 2008, the Ramsey City Council acted on matters impacting revenue and expenditures budget of the Economic Development Authority for items that were not included in the original budget for the year ending December 31, 2008; and WHEREAS, for financial reporting purposes, amendment to the Economic Development Authority budget is to be made in the form of a Budget Amendment Resolution; and WHEREAS, the following budget amendments are required to confirm Council's actions taken by motion and/or discussion and to reflect actual activity for the year ending December 31, 2008: To amend revenue activities based on budget amendments made by Council action during 2008 and actual moneys received over (under) budget from $396,375 to $509,564 or a . total net increase of$113, 189. Taxes Interest Earnings Miscellaneous Revenues Net increase/decrease Budgeted Revenues $(10,675) 17,000 106.864 $113.189 To amend expenditure activities based on budget amendments made by Council action during 2008 and actual moneys spent over (under) budget from 393,375 to $482,588 or a net increase of$89,213: Personal Service Supplies Other Services and Charges Capital Outlay Transfers to Other Funds Net Decrease Budgeted Expenditures $ (4,754) (4,000) 45,207 52,760 o $89.213 NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: 1) That the City Council hereby directs the Finance Officer to enter these budget amendments into the City's financial records.