My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
07-27-15-EDA
ArdenHills
>
Administration
>
Commissions, Committees, and Boards
>
Economic Development Authority (EDA)
>
EDA Packets
>
2011-2020
>
2015
>
07-27-15-EDA
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/24/2015 9:58:56 AM
Creation date
7/24/2015 9:58:05 AM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
29
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Page 1 of 2 <br /> <br />DATE: July 27, 2015 <br /> <br />TO: EDA Chair and Commissioners <br />Jill Hutmacher, Executive Director <br />Patrick Klaers, EDA Secretary <br /> <br />FROM: Sue Iverson, EDA Treasurer <br /> <br />SUBJECT: Preliminary 2016 EDA Budgets <br /> <br /> <br />Background/Discussion <br /> <br />The EDA is a blended component unit of the City of Arden Hills which makes EDA Funds <br />Special Revenue Funds of the City. Annually we are required by the State to set budgets for the <br />City’s General Fund and all Special Revenue Funds (which includes all the EDA Funds). <br /> <br />These EDA Funds are: <br /> <br /> EDA General Fund <br /> EDA Revolving Loan Fund <br /> EDA TIF District #2 Round Lake <br />EDA TIF District #3 Cottage Villas <br />EDA TIF District #4 Presbyterian Homes <br /> <br />Overall, the EDA General Fund is in good financial condition for 2015 with an estimated year- <br />end reserve balance of $271,963; but the EDA and City Council need to identify dependable, <br />reoccurring revenue for EDA activities in the future as the primary funding source of revenues <br />from the Round Lake Road TIF District will be done at the end of 2015. The other main reason <br />the EDA General Fund is in good condition is because of the transfers of Conduit Fees from <br />Presbyterian Homes in 2011 and 2012 and General Fund transfers for operating expenses. <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 <br />$140,000 per year range. <br /> <br />NEW BUSINESS – 4A <br /> <br /> <br />MEMORANDUM <br />
The URL can be used to link to this page
Your browser does not support the video tag.