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Dept:920-6210 - Economic Development Authority
<br />Acct.2021 2022 2023 2024 2025
<br />No.Actual Actual Actual BUDGET BUDGET
<br />REVENUES:
<br />3111 Property Taxes 362,164 360,527 392,447 415,950 427,000
<br />3322 MV Credit 199 210 232
<br />3621 Interest Income 1,396 13,333 51,185 15,000 25,000
<br />3629 Miscellaneous Revenue 23,506 -
<br />3949 Transfers In - HRA 3,500 3,500 4,000 4,000 4,000
<br />TOTAL EDA REVENUES 390,765 377,570 447,864 434,950 456,000
<br />EXPENDITURES:
<br />PERSONAL SERVICES
<br />4101 Regular Pay 83,612 93,298 115,979 123,900 130,800
<br />4103 Part-time Pay 12,600 12,600 12,600 12,600 12,600
<br />4104 PERA 5,697 6,700 8,788 9,500 10,000
<br />4105 FICA 5,816 6,286 7,698 8,350 8,800
<br />4107 Medicare 1,412 1,522 1,827 2,000 2,100
<br />4108 Insurance 5,131 17,703 24,106 24,300 25,500
<br />4109 Workers Comp 483 516 473 550 650
<br />TOTAL PERSONAL SERVICES 114,751 138,625 171,471 181,200 190,450
<br />SUPPLIES
<br />4201 Office Supplies 2,584 7,250 1,719 2,500 3,000
<br />Office supplies 2,500 2,500
<br />Computer equip 500
<br />4212 Fuels & Lubes 80 55 - 50 50
<br />Unleaded gas 50 50
<br />TOTAL SUPPLIES 2,664 7,305 1,719 2,550 3,050
<br />SERVICES & CHARGES
<br />4304 Legal Fees 9,237 7,027 10,786 10,000 10,000
<br />Misc.10,000 10,000
<br />
<br />4319 Other Professional Services 7,590 - - 27,000 25,000
<br />Consulting/Studies 27,000 25,000
<br />-
<br />4321 Telephone 430 12 - 400 400
<br />Cell phone (2)400 400
<br />4322 Postage 26 10 40 200 100
<br />Marketing mailings 200 100
<br />4331 Conferences/Schools 10,769 5,035 5,946 10,450 11,000
<br />EDAM 2,500 1,500
<br />Annual IEDC Conference - -
<br />Chamber Events 500 500
<br />MREJ 1,000 1,000
<br />MNCREW - -
<br />CMMA 350 400
<br />Ehlers/Baker Tilly Symposium 600 600
<br />Misc. training - IEDC Certification - 1,500
<br />MAEDC (BP and Competitive Conf.)2,500 2,500
<br />Other 3,000 3,000
<br />4349 Advertising/Marketing 44,780 27,367 30,914 67,200 73,600
<br />Community Profiles 2,000
<br />Advertising (Production & Publication)8,000 8,000
<br />Direct Mailings - Mfg Week - 100
<br />Promo items 1,000 1,000
<br />Special events 2,000 2,000
<br />Sponsorships (City/EDA)3,000 4,000
<br />Catalyst 5,000 5,000
<br />Trade Shows & Lead Generation (includes travel)8,000 8,000
<br />Site Selector Event (Economix, Etc) - moved from 4331 3,000 3,000
<br />EDA Website (EDA share - 1/2 EDA & 1/2 HRA)5,700 6,000
<br />Lead Forensics (2023 - no longer shared by EDA/HRA)- -
<br />Promotion & Awards 1,500 1,500
<br />Holiday card marketing - -
<br />Together Elk River Campaign 20,000 20,000
<br />Energy City Program (rebates)2,500 1,000
<br />2025 BUDGET DETAIL
<br />Explanation/Detail of Supplies or Services
<br />Page 13 of 33
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