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<br /> <br />EDA REVOLVING LOAN FUND <br /> <br />Function: Economic Development <br />Supervisor: Community Development Director <br />Fund#: 251 <br />Activity#: 47306 <br /> <br />Activity Scope <br /> <br />This Special Revenue Fund was established to administer economic development loans. <br />The primary revenue source is from investment income. <br /> <br />Objectives <br /> <br />1. To assist local businesses that meet the loan criteria established by the EDA. <br /> <br />Issues <br /> <br />1. The current economy is starting to rebound and is slowly lending itself to <br />expansion or improvements. <br />2. Promoting the program to the community businesses. <br /> <br />Measurable Workload Data <br /> <br />None developed at this time. <br /> <br />Budget Commentary <br /> <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 /> <br />Budget Summary <br /> <br />Function: Economic Development Department: EDA Revolving Fund <br />Appropriation Detail <br />Actual Actual Budget Amended YTD Proposed % Change <br />Activity FY 2014 FY 2015 FY 2016 FY2016 FY2016 FY 2017 16 vs 17 <br />Revenues <br />Total Miscellaneous 6,378 3,264 2,500 2,500 2,542 3,000 20.00% <br />Total Revenues 6,378$ 3,264$ 2,500$ 2,500$ 2,542$ 3,000$ 20.00% <br />Fund Balance - January 1 154,491 160,869 164,133 164,133 164,133 166,633 <br />Excess Revenue Over Expenditure 6,378 3,264 2,500 2,500 2,542 3,000 <br />Fund Balance - December 31 160,869$ 164,133$ 166,633$ 166,633$ 166,675$ 169,633$ <br /> <br /> <br /> <br /> <br /> <br />