Agenda - Council - 12/12/1995 - Laserfiche WebLink

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I I I I I I I I I I I I I ,I I I I I CASE ADOPT 1996 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET By: Jessie L. Hart, Finance Officer Background: Attached for your~ review and consideration is the 1996 Proposed Economic Development Authority Budget. This is the third year a formal budget will be used for economic development activities financed i~y the EDA. The financing sources for these operations include transfers from the tax increment districts and interest earnings. Additional revenues from land sales could be recognized in 1996, but due to the speculative natt~re, are not budgeted for. This budget includ~,s 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 ~llowances for economic development programs including participation at the annual Game Fair, business expo and entry signs into the City. This budget has be~n revised somewhat from its initial presentation to Council. The revisions included refinemerit of certain revenues sources now that more accurate forecasts have been made. Staff Recommendt Approve attached .tion: Resolution Authority Operating Budget. Council Action: ~ [ Motion to approv~e Resolution Authority Operating Budget. #95-12-XXX Adopting the 1996 Economic Development #95-12-XXX Adopting the 1996 Economic Development Review Checklist: City Administrator Finance Officer CC: 12/12/95 Copies Distributed to: Economic Development Coordinator