9.0. EDSR 08-08-1994 - Laserfiche WebLink

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ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY 111 MEMORANDUM TO: ECONOMIC DEVELOPMENT AUTHORITY FROM: WILLIAM RUBIN,EXECUTIVE DIRECTO rta_ DATE: AUGUST 3, 1994 SUBJECT: 1995 EDA BUDGET AND LEVY Based on a maximum levy, it is estimated that the EDA will have revenues of approximately $81,000 in 1995. The proposed 1995 EDA budget is outlined on the attached page and a summary follows: PERSONAL SERVICES • This proposed expenditure of$34,800 includes the part-time salaries to the EDA Commissioners plus 40% of the Economic Development Coordinator salary, pension, and benefits. In addition, one-fourth of an administrative support position(plus pension and benefits)is funded through the EDA as is one-fourth of the time of the recording secretary for EDA meetings. SUPPLIES AND CHARGES $800 is attributable to office supplies for the EDA in 1995. CONTRACTUAL SERVICES $1,500 has been set aside for the Economic Development consultant; an additional $1,000 is set aside for legal fees in 1995. Advertising has been allocated $12,000. This includes expenditures in regional and state publications such as Minnesota Ventures, The Real Estate Journal, Business Media, and Twin Cities Business Monthly. Specialty ads in the Star News are also attributable to this category. Of the $7,500 allocated to marketing, a portion is attributable to the quarterly Economic Development Newsletter, the novelty mailing item, etc. The other two major expenditures in contractual services is the $6,000 contribution to the Area Chamber of Commerce and $11,100 that is attributable to development activities. This expenditure can further be divided into $6,000 that is attributable to business park expenditures and $5,100 for other miscellaneous projects. • P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 Equal Opportunity Housing and Equal Opportunity Employment