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<br />'.. .... <br /> <br />Expenditures: <br />1. Economic Development <br />EDC is running over budget due to several large expenditure items: Business <br />Directory, Sno-Biz, Volunteer Appreciation and Business Appreciation. <br />However, most of the major activities are done for the year. <br /> <br />2. Financial Administration <br />Audit is substantially done for the year. <br /> <br />3. Assessing <br />Payment was made to Anoka County in February for this year's assessing. <br />Assessment payments are substantially done fur the year. <br /> <br />4. Fire Protection <br />Payments are made quarterly in the amount of$19,016.50 to Centennial Fire <br />Department. The amount shown includes payments for the first two quarters of <br />this year. It also includes a payment to the Centennial Fire Department in the <br />amount of$14,500 from gambling proceeds of the Centennial Fire Relief <br />Association. <br /> <br />5. Streets <br />Street work is seasonal and will be beginning soon. <br /> <br />6. Parks and Recreation <br />This department also is very seasonal. Plans are being made to expend funds for <br />the summer season. <br /> <br />Recommendations: Increase investments to realize more interest income. Cash reserves <br />are more than adequate. A separate report is attached. <br /> <br />Prepared By: <br /> <br />Approved By: <br /> <br />Administrator <br /> <br />Finance Director <br /> <br />Narrative.doc <br />