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CITY OF ARDEN HILLS, MINNESOTA 2023 BUDGET <br />Function: Economic Development Fund # 250 <br />Activity: EDA General Activity # 47300 <br />Activity Scope <br />This Special Revenue Fund accounts for general administration activities that are not specific to any individual <br />Tax Increment Financing (TIF) District, as well as activities associated with the Economic Development <br />Commission and Economic Development Authority. <br />Objectives <br />1. Consider placement and construction of Gateway Signs. <br />2. Consider the use of TIF District 3 funds for low to moderate housing needs. <br />3. Review the operating budget and identify a sustainable funding source. <br />4. Continue to grow and evolve the business retention program. <br />Issues <br />1. Consistent administration of the City's polices, plan, ordinances, guidelines, statutes, etc. <br />2. Promotion of available industrial property. <br />Budget Commentary <br />The primary revenue source for this fund is property taxes. The biggest contributor to Contractual Services is an <br />administrative charge for overhead costs associated with Administration, Finance and Government Building <br />departments in the General Fund. <br />Budaet Summa <br />Personnel Services <br />Commodities <br />Contractual Services <br />Capital Outlay <br />Other Charges <br />Total <br />Percent Change <br />Full -Time Equivalent positions <br />Expenditures by Classification <br />2020 2021 2022 2023 <br />$ 51,301 $ 37,671 $ 53,780 $ 59,330 <br />- - 400 - <br />24,218 25,540 32,990 28,220 <br />w w w w <br />(-16.3%) 37.9% 0.4% <br />0.42 0.26 0.38 0.38 <br />oPersonnel Services <br />32% oCommodities <br />oContractual Services <br />oCapital Outlay <br />68% â– Other Charges <br />0% <br />