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<br />HRA DISCUSSION <br />Date: 05-18-04 <br />Item No: 8.d. <br />Director Approval: Agenda Section: <br /> CB Discussion <br />Item Description: 2005 Budget Process <br />Budget Process: <br />1.0 <br />Each year the HRA needs to review its housing plan and budget to determine if additional levy funds <br />are needed to carry out its goals and action steps. If a levy is requested, a resolution and budget <br />must be adopted and presented to the City Council to include within the City budget and levy <br />request. <br />The City Council will review its budget schedule at their meeting on May 17, 2004. Based upon <br />their schedule the HRA should expect to review the Housing Plan and budget between June – <br />August. <br />2004 expenditures to date include administrative (staff and fiscal fees, training, membership), <br />applewood court land purchase, construction management, and marketing, design grants, design <br />intern and HRC fees. A sources and uses report and budget process timeline will presented at <br />the May HRA meeting. <br />At the June HRA meeting, the Board should begin the review of a draft budget for 2005. Staff <br />will prepare a draft budget for review for that meeting. Any significant new programs that will <br />affect the budget for next year should be introduced as soon as possible. <br />Attachments: <br /> 2004 Budget Adopted. <br />Prepared by: Cathy Bennett (651-792-7072) <br /> HRA Budget Process - Page 1 of 1 <br /> <br />