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ec# <br /> <br />REVIEW AND ADOPT 1999 ECONOMIC DEVELOPMENT AUTHORITY <br />OPERATING BUDGET <br /> By: Diana Lund, Finance Officer <br /> <br />Background: <br /> <br />Attached for your review and consideration is the 1999 Proposed Economic Development <br />Authority Budget. <br /> <br />The financing sources for these operations include transfers from the tax increment districts and <br />interest earnings. Due to changes in the laws during 1998, transfers from tax increment districts <br />has been calculated at 5% to recognize administrative charges that are paid through each tax <br />increment district. <br /> <br />This budget includes expenditures for salary costs of various levels of city staff, costs associated <br />with the Economic Development Commission (these costs had formally been shown in the <br />General Fund) and allowances for economic development programs including participation at the <br />annual Game Fair, business expo, annual business appreciation day and entry signs into the City. <br /> <br />Also attached to this case is a resolution amending the 1998 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 activitiy. <br /> <br />Staff Recommendation: <br /> <br />Approve attached Resolution #98-12-XXX Adopting the 1999 Economic Development <br />Authority Operating Budget; <br /> <br />and <br /> <br />Approve attached Resolution #98-12-XXX Amending the 1998 Economic Development <br />Authority Operating Budget. <br /> <br />Council Action: <br /> <br />Motion to recommend Council adopt Resolution #98-12-XXX Adopting the 1999 Economic <br />Development Authority Operating Budget, <br /> <br />and <br /> <br />Motion to recommend Council adopt Resolution #97-12-XXX Amending the 1998 Economic <br />Development Authority Operating Budget, <br /> <br />Review Checklist: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 12/15/98 <br /> <br /> <br />