Laserfiche WebLink
EDA REVOLVING LOAN FUND <br />Function: Economic Development <br />Supervisor: Community Development Director <br />Fund#: 251 <br />Activity#: 47306 <br />Activity Scope <br />This Special Revenue Fund was established to administer economic development loans. <br />The primary revenue source is from investment income. <br />Obiectives <br />1. Finalize the City revolving loan program guidelines and work with the EDC to <br />market the program. <br />2. To assist local businesses that meet the loan criteria established by the EDA. <br />Issues <br />1. Current economy does not lend itself to expansion or improvements. <br />2. Promoting the program to the community businesses. <br />Measurable Workload Data <br />None developed at this time. <br />Budget Commentary <br />There are currently no planned expenditures at this time. Activity in this fund would <br />occur if the Economic Development Authority authorized a loan after an application is <br />made. <br />Budget Summary <br />Function Econondc Development Department EDA Revolving Fund <br />Appropriation Detail <br />Actual Actual Budget Amended Year To Date Proposed %Change <br />Activity FY 2013 FY 2014 FY 2015 FY2015 06/30/2015 FY 2016 15 vs 16 <br />Revenues <br />Total Miscellaneous 1,158) 6,378 2,500 2,500 2,005 2,500 0.00% <br />Total Revenues 1,158) $ 6,378 $ 2,500 $ 2,500 $ 2,005 $ 2,500 0.00% <br />Fund Balance-January 1 155,649 154,491 160,869 160,869 160,869 163,369 <br />Excess Revenue Over E)penditure 1,158) 6,378 2,500 2,500 2,005 2,500 <br />Fund Balance-December 31 $ 154,491 $ 160,869 $ 163,369 $ 163,369 $ 162,873 $ 165,869