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CITY OF ARDEN HILLS, MINNESOTA 2020 BUDGET <br />Function: Economic Development Fund # 251 <br />Activity: EDA Revolving Loan Activity # 47306 <br />Activity Scope <br />This Special Revenue Fund was established to administer economic development loans. The primary revenue <br />source was investment income. <br />Objectives <br />To assist local businesses that meet the loan criteria established by the EDA. <br />Issues <br />1. The current economy is starting to rebounds and is slowly lending itself to expansion or improvements. <br />2. Promoting the program to the community businesses. <br />Budget Commentary <br />There are currently no planned expenditures at this time. Activity in this fund would occur if the Economic <br />Development Authority authorized a loan after an application was made. <br />2017 2018 2019 2020 <br />Budget Summary ACTUAL ACTUAL BUDGET BUDGET <br />Personnel Services $ - $ - $ - $ - <br />Commodities - - - - <br />Contractual Services - 34,208 - - <br />Capital Outlay - - - - <br />Other Charges - 135,727 - - <br />Total $ - $ 169,934 $ - $ - <br />Percent Change 100.0% (-100.0%) 0.0% <br />Expenditures by Classification <br />0 Personnel Services <br />0 Commodities <br />13Contractual Services <br />❑ Capital Outlay <br />■Other Charges <br />46 <br />