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AU~ 03 '04 18:00 T0-7636351090 <br /> <br />FROH-RICHARDSON, RICHTER & ASSOCIATES T-241 <br /> <br />P, 06 18 F-503 <br /> <br />MEMORANDUM <br /> <br />August 3, 2004 <br /> <br />TO: <br /> <br />FROM: <br /> <br />RE: <br /> <br />NCDA Members <br />NCDA Executive Committee/Capital Budget Committee Members <br /> <br />Tim Yantos, Executive Director <br /> <br />Final 2003-2004 NCDA Budget <br /> <br />Attached for your consideration is the Final 2003-2004 Budget. Over the last several years, <br />the NCDA's budgets have reflected the State's fiscal year (from July to June) and not the <br />calendar year, because of the uncertainty of action by the State Legislature and of the <br />availability of grant funds. <br /> <br />At the July 2004 meeting, the NCDA extended the first half of the 2004 budget to cover <br />expenditures through September 30, 2004. On the attached budget sheet, Column A reflects <br />the 2003 Budget (January to December). Column B shows the approved 2004 budget <br />(January to September). Column C combines the two bucigets to sl3ow the total approvecl <br />budget from January 2003 through September 2004. Column D shows the proposed final <br />budget for the two-year period (2003 to 2004). This approach of aggregating budgets was <br />necessary to appropriately account for expenditures and shift the NCDA back to a calendar <br />year budget. <br /> <br />Note that the final budget includes an extension of the current budget to cover the period of <br />September to December, 2004, but no additional contributions for 2004 are requested. <br /> <br />Action Requested: <br /> <br />That the NCDA Executive Committee/Capital Budget Committee <br />approve the Final 2003-2004 NCDA Budget and recommend that <br />the NCDA approve the Final 2003-2004 NCDA Budget, <br /> <br /> Northstar Corridor Develop.tent Authority <br />2100 3'" Avenue, Anoka. Minnesota 55303-2265 ¢763) 323-5700 Fax: {763.~ 323-5682 www. northstartrain.org <br /> <br /> <br />