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r <br />Consider Year 2009 EDA Budget and Resolution Regarding EDA Levy <br />August 11, 2008 EDA Meeting <br />Page 2 of 3 <br />Below is a line item analysis of the proposed Year 2009 expenditures for the EDA: <br />• Personal Services (including Commissioners compensation) $ 117,250 <br />• Office supplies (shared with HRA) $ 2,700 <br />• Fuels (shared with HRA) $ 150 <br />• Legal Fees $ 10,000 <br />• Other Professional Services $ 58,000 <br /> o Ehlers & Associates (feasibility studies, TIF runs) <br /> o Engineering Fees (Gateway/Northstar Business Park) <br /> o Focused Area Studies <br /> o Update Economic Development Strategic Plan <br />• Telephone (shared with HRA) $ 200 <br />• Postage $ 2,000 <br />• Travel, Conference and Schools (shared with HRA) $ 8,700 <br /> o Economic Devel. Finance Certification fox Assistant <br />• Advertising/Marketing $ 58,600 <br /> o Economic Development Website <br /> o Community Profiles (design & print) <br /> o Advertising (production & publication) <br /> o Newsletter/Direct Mail (4x design & print) <br /> o News Releases (6x) <br /> o Special Events (manufacturers week/broker event) <br /> o Business Retention lunches <br />• Publishing $ 600 <br />• Insurance $ 200 <br />• Dues & Subscriptions $ 1,700 <br />• Miscellaneous $ 6,000 <br /> o Chamber of Commerce July 4~' Celebration contribution <br />• Transfer out to General Fund (support staff, etc.) 17 000 <br />Total EDA Year 2009 Proposed Expenditures: $283,100 <br />Total EDA Year 2009 Proposed Revenue: 43$ 2,500 <br />Difference $149,400 <br />Initiative Foundation Annual Contribution Request <br />Information about the Initiative Foundation's 2009 request of $5,000 is attached. Sirnilar to the last <br />year, the 2009 proposed budget does not include a contribution to the Initiative Foundation. Prior <br />to 2007, the EDA had made a series of annual contributions of $2,500 to the Initiative Foundation. <br />However, over the years the EDA's involvement with the Foundation has decreased with the lack of <br />its Seed Capital Fund program and the EDA's closure of the Business Incubator program in 2005. <br />If the EDA chooses to include an annual contribution, it should be understood that this is an <br />ongoing request as part of the Foundation's 5-year capital fundraising program, after which funding <br />needs are evaluated and a new 5-year campaign initiated. Staff recommends this request be <br />reconsidered when the EDA increases its involvement and participation in the Initiative <br />Foundation's programming and services. <br /> <br />S:~EDA~ED Admin~EDA Budget~EDA 09 BUDGET v2.DOC <br />