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Page 2 of 2 <br /> <br /> <br />The fund balance being projected at the end of the year includes funds that are intended to be <br />used for the Gateway Signs program (approximately $45,000). Tax revenues are likely the only <br />reoccurring source of funding for EDA activities. The City Council approved $90,000 in tax <br />revenues for the EDA as part of the 2017 budget, which is a $30,000 increase over the prior year. <br />The current budget projects another $30,000 increase over the previous year’s budget. Although <br />cost savings have been achieved in previous years due to staff vacancies and less than anticipated <br />expenditures, the EDA cannot expect similar savings in out years. The EDA will review the <br />final budget at its October meeting. <br /> <br />Discussion <br /> <br />Staff respectfully request the EDA review the budget for future discussions. <br /> <br /> <br />Attachment <br /> <br />Attachment A: 2018 Preliminary EDA Budget <br />