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<br />HRA DISCUSSION <br />Date: 07-20-04 <br />Item No: 8.b. <br />Director Approval: Agenda Section: <br /> CB Action <br />di <br />Item Description: 2005 Budget Discussion and Set Public Hearing for August 17, 2004 <br />Budget Process: <br />1.0 <br />Per State Statute 469.033, subdivision 6, the HRA must each year formulate and file a budget in <br />accordance with the budget procedure of the city in the same manner as required of executive <br />departments of the city. Draft budgets have been submitted to the finance department and the <br />HRA budget is schedule to be reviewed and discussed at a public meeting by the City Council on <br />August 23. <br />If a levy is requested, a resolution and budget must be adopted and presented to the City Council <br />in August to include within the City budget and levy request that is submitted to the County in <br />September. The City Council holds hearings on all elements of the budget including any <br />proposed HRA levy. <br />At the last meeting the HRA reviewed the housing plan and programs to help in the formulation <br />of a budget which is attached. <br />th <br />As a public courtesy, staff is suggesting that the HRA set a public hearing for August 17 to gain <br />public comment on the budget and subsequently adopt a preliminary 2005 budget and levy <br />request for council consideration. <br />Review of HRA Program Budget <br />2.0 <br />Uses: <br />2.1 The HRA’s housing plan is broken up into 6 main categories. The HRA’s budget is <br />categorized by these programs, plus administration, for ease in correlating the use of funds <br />with programs. Those program uses are summarized below: <br />Home & Garden <br /> – This program is self sufficient as it brings in as much revenue as <br />expenses and provide a great return and service to the residences of Roseville. It is <br />estimated that the fair serves between 800-1,000 area residents. In 2005, outside staffing <br />will be provided to manage the program. This was accounted for in the budget and staff <br />is confident that enough sponsorship revenue and exhibitor fees will be collected to pay <br />for the staff time. Prior to 2004, the staff time was not paid directly from the program <br />income. <br />2004 Budget to Date: $3,538 <br />Estimated Final Program Expenditure: $10,370 <br />2005 Suggested Budget Amount: $10,200 <br /> HRA Budget Discussion - Page 1 of 7 <br /> <br />