Resolution - #14-03-051 - 03/11/2014

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Councilmember LeTourneau introduced the following resolution and moved for its adoption: RESOLUTION #14-03-051 RESOLUTION AMENDING THE 2013 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET WHEREAS, during the year 2013, 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, 2013; 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, 2013: To amend revenue activities based on budget amendments made by Council action during 2013 and actual moneys received over (under) budget from $106,466 to $92,532 or a total net decrease of $13,934. Taxes $360 Interest Earnings $(14,294) Net increase Budgeted Revenues $(13,934) To amend expenditure activities based on budget amendments made by Council action during 2013 and actual moneys spent over (under) budget from $106,466 to $91,071 or a net decrease of $15,395: Personal Service $(11,764) Supplies (59) Other Services and Charges (3,572) Net Decrease Budgeted Expenditures $(15,395) 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. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember Johns, and upon vote being taken thereon, the following voted in favor thereof: