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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY <br /> Item 8. <br /> MEMORANDUM <br /> TO: Economic Development Authority <br /> ROM: Paul T. Steinman, Director of Economic <br /> Development <br /> DATE: August 8, 1996 <br /> SUBJECT: 1997 EDA Budget and Levy <br /> Introduction <br /> Based on a maximum statutory levy of.01813 percent of the taxable market <br /> • value,it is estimated the EDA will have approximate revenues of$94,500 in <br /> 1997. The proposed 1907 EDA budget is outlined below and includes a <br /> summary of the following line items: <br /> Personal Services - $46,600 <br /> This proposed expenditure includes the salaries of the EDA <br /> Commissioners ($150/month/Commissioner) plus 50 percent of the <br /> economic development director's salary, pension, and benefits. In <br /> addition, one-fourth of an administrative support position (plus <br /> pension and benefits) is funded through the EDA in addition to <br /> recording secretary time. <br /> Supplies and Charges - $800 <br /> $800 is attributable to office supplies to the EDA in 1997. <br /> Other Services and Charges - $45,350 <br /> $1,000 is allocated for an economic development consultant in 1997. <br /> $1,000 has been allocated for legal expenses. <br /> 13065 Orono Parkway • P. 0. Box 490 • Elk River, MN 55330-1743 • (612) 441-7420 • Fax (612) 441-7425 <br /> Equal Opportunity Housing and.Equal Opportunity Employment <br />