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CITY OF ARDEN HILLS, MINNESOTA 2026 BUDGET <br />Function: Economic Development <br />Activity: EDA General <br />Fund # 250 <br />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. Capital Outlay anticipated charges are for Gateway Signs. <br />2023 <br />2024 <br />2025 <br />2026 <br />Budget Summary <br />ACTUAL <br />ACTUAL <br />BUDGET <br />BUDGET <br />Personnel Services <br />$ 57,230 <br />$ 55,725 <br />$ 66,370 <br />$ 76,880 <br />Commodities <br />482 <br />374 <br />- <br />- <br />Contractual Services <br />20,827 <br />21,894 <br />18,582 <br />26,559 <br />Capital Outlay <br />- <br />- <br />- <br />180,000 <br />Other Charges <br />Total $ 78,539 $ 77,993 $ 84,952 $ 283,439 <br />Percent Change (-0.7%) 8.9% 233.6% <br />Full -Time Equivalent positions 0.36 0.32 0.38 0.38 <br />Expenditures by Classification <br />13Personnel Services <br />27% <br />oCommodities <br />oContractual Services <br />oCapital Outlay <br />9% â– Other Charges <br />141. <br />