9.0. EDSR 09-12-1994 - Laserfiche WebLink

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ty ofMEMORANDUM Elk • River TO: ECONOMIC DEVELOPMENT AUTHORITY FROM: PAT KLAERS, CITY ADMI STRATOR DATE: SEPTEMBER 8, 1994 SUBJECT: BUDGET AMENDMENT The City Council, in review of its General Fund budget, has requested that the EDA consider absorbing $8,000 worth of new expenses without changing its total budget. These expenses are for three different items. The first item is for personal services. Excluding EDA salaries and expenses for taking minutes at EDA meetings, the Council requested that the regular salaries, pensions, and insurance for Economic Development employees be split 50/50. The total Economic Development staff salaries of $61,000 is for one-quarter time of the Administration Secretary and all of the Economic Development Coordinator's salary. Shifting this expense to a 50/50 status versus 60 • percent for General fund and 40 percent for EDA means moving $6,100 worth of expenses from the General fund to the EDA. The second item is related to the expenses for videotaping EDA meetings. EDA meetings will be videotaped and run on the Cable TV system in 1995. The expenses for the employee to videotape these meetings are estimated at $500 for 1995. This expense would also be added to the personal services category. The last request is related to Elk River pins. The City has to reorder pins or design new pins in the near future. This expense is estimated at $1,400. The Council views Elk River pins as a marketing and promotion tool and, as such, would like the EDA to consider funding this expenditure. The above three items amount to $8,000. The proposal discussed by the Council calls for an $8,000 reduction in the development activities line item and the moving of these funds to personal services and marketing. A $3,100 balance would then be left for development activities. This line item is, in general terms, for activities and expenses that are not specifically known at this time. However, per the August EDA budget discussion, $6,000 was attributed to business park expenditures and $5,100 was designated for miscellaneous projects. If more than $3,100 is needed for development activities, the Council • indicated that the EDA could use its fund balance for approved activities. Attached is a page from the most recent City Audit that shows the EDA fund P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425