Agenda - Economic Development Authority - 11/08/2012

Home

Account Name Explanation of EDA Expenditures Description of Use 6102 (City Human Resources)F.T. WAGES & SALARIES 6105 (City Human Resources)TEMP.-WAGES & SALARIES 6121 (City Human Resources)PERA CONTRIBUTIONS 6122 (City Human Resources)FICA/MEDICARE CONT. 6131 (City Human Resources)GROUP INSURANCE 6133 (City Human Resources)WORKERS COMP INSUR PREM These six accounts are used to pay for City human resources. From 2012 to 2013 Wages & Salaries decreased from $103,742 to $35,086 ($ 68,656 difference). The decrease in personnel costs is attributed to the position of the deputy city administrator not being refilled; and the funding of a new economic development/HRA position --which is expected to be 20% funded from the EDA versus 60% in 2012. 6249 MISCELLANEOUS OPERATING SUPPLY Miscellaneous Operating Supply pays for a number of items. The largest portion of this account goes towards the three major EDA Events: Golf Tournament ($4,000), Business Expo ($4,000), Fall Networking Event ($2,000). The EDA also contributes to the City's Game Fair Booth Marketing and Supplies ($250-$1,500 depending on the year). Finally, this account is used for random supplies, printing and marketing efforts by the EDA ($250-$ 1,500 depending on the year). 6304 LEGAL FEES As it suggests, this account pays for legal fees for the EDA. Common legal fees for the EDA relate to legal research on properties. For example, an owner and encumbrance report, or title verification. 6315 MISCELLANEOUS PROFESSIONAL SER Miscellaneous professional services account covers non City employee human resource costs. In years past, this account has been used for conducting studies (for example, the Buxton study on 167th). When the City needs high level TIF/ED Program advice and counseling, they use this account. Beginning in May of 2012, and moving forward, the City will be relying on ACG for high level/complex ED functions (for example, making a pitch, including structuring a deal, of a potential project in Ramsey to a large new business). Additionally, ACG is available to backfill as City Staff needs. 6322 POSTAGE As it suggests, this account pays for postage. Often times, postage is charged to "Misc. Operating Supply" to be tracked with a specific event. 6323 CELLULAR PHONES This account pays for cell phone usage for EDA staff. 6331 TRAVEL & LODGING This account pays for travel and lodging. Previous to 2012, this account had consistent usage from Staff members. Moving forward, the account activity will depend on allocation of Staff. A common example for an ED Staff member is the EDAM annual conference. 6335 TRAINING This account pays for training opportunities. Previous to 2012, this account had consistent usage from Staff members. Moving forward, the account activity will depend on allocation of Staff. Many of the professional associations that ED Staff belong to, draw from this account for conferences and training opportunities. For example, EDAM training conferences. 6361 GENERAL LIABILITY/PROPERTY INS This account pays for the "EDAs" share of liability/property insurance for the municipal center. 6371 ELECTRIC UTILITIES This account pays for the "EDAs" share of electrical services for the municipal center. 6373 GAS This account pays for the "EDAs" share of gas services for the municipal center. 6439 OTHER MISCELLANEOUS The Finance director can provide background on this account. 6451 MEMBERSHIP DUES This account pays for membership dues. Previous to 2012, this account had consistent usage from Staff members. Moving forward, the account activity will depend on allocation of Staff. In addition to Staff usage, this account is used to pay for City dues for property listing agencies (for example, CoStar). 6452 SUBSCRIPTIONS In the event that the EDA wishes to subscribe to websites, publications or other materials, this account is available. NOTE: There is a separate expenditure account for land, which is used on a project -to -project, year-to-year basis.