Laserfiche WebLink
REDA Meeting <br /> Minutes—Monday,September 18,2023 <br /> Page 2 <br /> will get them signed up. The City also promotes the programs in the City <br /> newsletter. She knew the newsletter was read primarily by the residential <br /> property owners, but the commercial property owners receive it as well. She <br /> encouraged the businesses to pay attention to the back page. At least once a <br /> year, if not twice a year, the City does promote these programs through the <br /> Roseville Business Council. She noted there have been five businesses applying <br /> for the forgivable micro loan so that has proven to be successful, at least in the <br /> preliminary stage. <br /> Member Schroeder thanked Ms. Gundlach for presenting this and answering all <br /> of her questions before the meeting. She indicated she did like this format and <br /> showing last year's information and the budget. She wanted to make sure to <br /> mention that the EDA has a fund balance brought forward each year and <br /> $464,000 will be brought over this year, she believed it is through August right <br /> now. Her point is that the City does have a cushion in case it is needed for <br /> anything that comes up. <br /> President Roe asked if all of the fund balance was unrestricted in terms of the <br /> $464,000. <br /> Ms. Gundlach indicated the$464,000 is the levy-supported fund. There are no <br /> restrictions on what the EDA could spend that money on. Any restricted <br /> balances are kept separate. She noted staff budgets $5,000 every year for <br /> printing/marketing materials and a portion of which is set aside for a study in <br /> the future, which will cost more than $5,000 total. <br /> Member Etten thanked Ms. Gundlach for adding the detail with the actuals. He <br /> indicated for some of the funds he thought it would be nice to see some years <br /> before this as it looks like the City is budgeting far more than what is being used. <br /> He was curious and would like to understand that better in the future. He noted <br /> an example would be the Energy Efficiency Program or some of the professional <br /> services pieces or the Economic Development Consultant on call. <br /> Ms. Gundlach provided information on the funds that Member Etten asked <br /> about. <br /> Member Etten indicated he appreciated the explanation. He thought the EDA <br /> may need to see the 2018-2019 budgets to understand what was happening when <br /> things were normal, pre-COVID. He noted the City is coming back to normal <br /> and he would like to see what normal looks like. <br /> Ms. Gundlach indicated staff can put that information together. <br /> President Roe thought one of the things the City could do with the EDA is to be <br /> a little more consistent with the documentation that staff does for the rest of the <br /> City as typically, there is a high-level summary and shows four years of actuals <br />