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Councilmember Elvig introduced the following resolution and moved for its adoption: RESOLUTION #04-01-025 RESOLUTION AMENDING THE 2003 ECONOMIC DEVELOPMENT AUTHORITY OPERATING BUDGET WHEREAS, during the year 2003, 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 ended December 31, 2003; and WHEREAS, for financial reporting purposes, amendments 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 ended December 31, 2003: To amend revenue activities based on budget amendments made by Council action during 2003 and actual moneys received over (under) budget from $5,000 to $9,267 for a total net increase of $4,267: Miscellaneous Revenues $4,267 Net increase Budgeted Revenues $ 4,267 To amend expenditure activities based on budget amendments made by Council action during 2003 and actual moneys spent over (under) budget from $108,943 to $66,021 for a net decrease of $42,922: Personal Service Supplies Other Services and Charges Capital Outlay Transfers to Other Funds Net Decrease Budgeted Revenues $ (2,409) (1,112) (39,401) 0 0 $(42,922) NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, COUNTY OF ANOKA, STATE OF MINNESOTA, as follows: 1) That the City Council hereby directs the finance Officer to enter these budget amendments into the City's financial records.