3A, 2012 Proposed Preliminary Budget and Tax Levy

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� EDA GENERAL Funcfion.: Ecnnomic Development Supervisor: Com�n�nify Development Director Fu�d#: 70i Activi#y#: 47300 Ac#Evity Scope This Special Revenue Fund accoun�s for general administration activities that are noi specific �a az�y i�dividuai Tax Incrernent Financing (TIF) Disirict, as well as activities associated wiih the Econorr�ic Develop�ent Commission and Economic Developmer�t Authority. Obiect�ves l. Contfnue to market the City of Arden Hiils 2. Gateway signs at City en�rax�ces Issues 1. Consistertt administraiion of the City's �oIicies, plan, ordinances, guidelines, statutes, �tc. 2. Promatian of industrial �roperty available. Measurable Work�oad Da�a None deve�oped at this time. Bud�et Commentar� The revenue to this fund has �een primariIy excess increment and inierest income in the past years with transfer from the Genera� Fund �ince 20�8. The tax increment excess has risen sabstantiatly over the past three years. In 2008, the salary and benefit costs far ti�is activity were transferred to the General Fund in the Planning department. At that tirne, there was a negative fund �alance and a firansfer from the Ge�eral �'und was set up ta co�-rect the negative balance fund Gateway signs. Transfers have been routinely made since 2Q08 and the revenue sources have risen. With the 2012 budget, #k�e salary az�d beneFit costs �ave been trans�enred bac� to the fund as before. Arz administrative c�arge has also been added as this was established in 2008 and alI funds are charged back for overhead costs associated with Adz�n.inistration, Finance and Administraiive Services, and Governtnent Building depart�nents in the General Fund. Other costs such as auditing, financial software, IT, and insurance l�ave been a�locaied to this fund also. The expenditure budget shows an increase af 9-03.82% over the 201 I budget due to these clzanges. 68