Agenda - Council - 12/09/1997 - Laserfiche WebLink

Home

I I I I I I I I I I I I I I CAS~# /'~ REVIEW AND ADOPT I998 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET By: Jessie L. Hart, Finance Officer Background: Attached for your review and consideration is the 1998 Proposed Economic Development Authority Budget. The financing sources for these operations include transfers from the tax increment districts and interest earnings. Due to changes in the laws during 1997, transfers from tax increment districts has been calculated at 8% to recognize administrative charges that are paid through each tax increment district. This budget includes expenditures for salary costs of various levels of city staff, costs associated with the Economic Development Commission (these costs had formally been shown in the General Fund) and allowances for economic development programs including participation at the annual Game Fair, business expo, annual business appreciation day and entry signs into the City. Also attached to this case is a resolution amending the 1997 activity. This is primarily a "housekeeping" item and is done on an annual basis. The projections through the end of the year are based on actual activitiy. Staff Recommendation: Approve attached Resolution #97-12-XXX Adopting the 1998 Economic Development Authority Operating Budget; and Approve attached Resolution #97-12-XXX Amending the 1997 Economic Development Authority Operating Budget. Council Action: Motion to adopt Resolution #97-12-XXX Adopting the 1998 Economic Development Authority Operating Budget, Motion to adopt Resolution #97-12-XXX Amending the 1, conomic Development Authority Operating Budget, Review Checklist: Acting City Administrator Finance Officer CC: 12/09/97 /75