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the Pres Homes TIF District #4 will have very limit activity until 2014. <br /> <br />Overall, the EDA General Fund is in good financial condition for 2014; but the EDA and City <br />Council need to identify dependable, reoccurring revenue for EDA activities. The main reason <br />the EDA General Fund is in good condition for at least 2014 is because of the transfer of Conduit <br />Fees into this fund for operating expenses. <br /> <br />Attached for your information are: <br />the 2013 EDA General Fund Budget Summary and detail pages, <br />the 2011 EDA General Fund Budget Summary, and <br />the 2009 EDA General Fund Budget Summary. <br /> <br />Unless the EDA and City Council decided to change priorities, the expenses for economic <br />development related activities are going to exist regardless if they are in the City General Fund <br />budget or if they are in the EDA General Fund budget. Today these economic development <br />expenses for Personal Services and for Other Services/Charges are estimated to be in the $80,000 <br />per year range. <br /> <br />and been located in both City General Fund and the EDA General Fund budgets depending on <br />the fund balance of the EDA and available EDA revenues. This movement of economic <br />development expenses between funds depending on available revenues is noted in the 2013 EDA <br />budget narrative and can be seen in the Actual Expenditures section of the attached Budget <br />Summary pages. <br /> <br />The 2013 Budget Summary shows a substantial fund balance being projected at the end of the <br />year; but it should be noted that some of these funds are intended to be used for the Gateway <br />Signs program. If the proposed $30,000 is spent on Gateway signs in 2013 then the balance <br />the end of 2013 will likely be even higher as an addition $30,000 in Conduit Fees from the Pres <br />Homes project has been received. <br /> <br />Tax revenues are likely the only reoccurring source of fund for EDA activities. Given this <br />situation, it may be appropriate to start slowly. Maybe $10-15,000 in tax revenues for the EDA <br />should be part on the 2014 budget and then this amount can increase in future years as needed. <br /> <br />th <br />As time allows on April 29, I would like to discuss the issues surrounding the EDA operating <br />budget. The EDA General Fund budget will be on the July 2013 EDA agenda for further <br />discussion <br /> <br /> <br /> <br /> <br />22 <br />Page of <br /> <br />