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Councilmember Tossey introduced the following resolution and moved for its adoption: RESOLUTION #12- 02 -022A RESOLUTION AMENDING THE 2011 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET WHEREAS, during the year 2011, 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, 2011; 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, 2011: To amend revenue activities based on budget amendments made by Council action during 2011 and actual moneys received over (under) budget from $294,705 to $276,440 or a total net decrease of $18,265. Taxes $(18,265) Interest Earnings 0 Miscellaneous Revenues 0 Net increase /decrease Budgeted Revenues $(18,265) To amend expenditure activities based on budget amendments made by Council action during 2011 and actual moneys spent over (under) budget from 291,705 to $287,515 or a net decrease of $4,190: Personal Service $1,456 Supplies 2,104 Other Services and Charges 117,627 Capital Outlay (145,110) Transfers to Other Funds 19,733 Net Decrease Budgeted Expenditures $(4,190) 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 Director to enter these budget amendments into the City's financial records.