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REVIEW AND ADOPT 2002 ECONOMIC DEVELOPMENT AUTHORITY <br />OPERATING BUDGET <br /> By: Diana Lurid, Finance Officer <br /> <br />Background: <br /> <br />Attached for your review and consideration is the 2002 Proposed Economic Development <br />Authority Budget. <br /> <br />The financing source for these operations is solely interest earnings. Tax Increment interest <br />earnings were previously allowed to be transferred as a funding source, but legislation changed <br />the laws in 1998. <br /> <br />This budget includes expenditures for salary costs of various levels of city staff, professional <br />services for outside consulting services such as those offered by Mike Mulrooney and allowances <br />for economic development programs including participation at the annual Game Fair, business <br />expo, annual business appreciation day and entry signs into the City. <br /> <br />Also attached to this case is a resolution amending the 2001 activity. This is primarily a <br />"housekeeping" item and is done on an annual basis. The projections through the end of the <br />year are based on actual activity. <br /> <br />Staff Recommendation: <br /> <br />Approve attached Resolution #02-02-XXX Adopting the 2002 Economic Development <br />Authority Operating Budget; <br /> <br />And <br />Approve attached Resolution #02-02-XXX <br />Authority Operating Budget. <br /> <br />Amending the 2001 Economic Development <br /> <br />Council Action: <br /> <br />Motion to recommend Council adopt Resolution #02-02-XXX Adopting the 2002 Economic <br />Development Authority Operating Budget, <br /> <br />And <br /> <br />Motion to recommend Council adopt Resolution #02-02-XXX Amending the 2001 Economic <br />Development Authority Operating Budget. <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 02/12/02 <br /> <br /> <br />