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HomeMy WebLinkAbout3.A. EDA (McNeill) :3 , A-. EDA FUND 2007 BUDGET ACTIVITY: Activity includes the operation of the Shakopee Economic Development Authority. The EDA's mission.is to enhance the quality of life in Shakopee by expanding and strengthening the local economy; broadening the city's job base and increasing its revenue base through facilitating the preservation, expansion, creation and attraction of quality businesses and related jobs. Implement strategies and administer various programs (grants, loans, etc.) to accomplish above activities. Staff must maintain EDA records and prepare materials for policy decisions by Commissioners. The Commission is comprised of the Mayor and City Council. Staffing level for the EDA is proposed to change from 50% of the Assistant Administrator's time to a full-time Economic Development Coordinator thereby increasing salary and benefit costs. As a result, an increase in wage and benefit costs is anticipated. Section 469.107 of the Minnesota Statutes states that the governing body may, at the request of the authority, levy a tax in any year for the benefit of the authority. The tax must be not more than 0.01813 percent of taxable market value. OBJECT DESCRIPTION: _ Description of line items: Salaries: Economic Development Specialist, charge-in from Administration. Professional Services: Legal $15,000, other professional services $22,870 Dues: $600 Membership dues for professional economic development associations such as the International Economic Development Council and the Economic Development Association of Minnesota. Conference/School/Training: $500 Various conferences and training courses sponsored by professional economic development associations mentioned above. Miscellaneous: · Certainteed Tax Abatement: $ 54,000 · Dean Lakes Tax Abatement: 44,000 $ 98,000 Transfer to City of Shakopee for general overhead $19,200. 2007 BUDGET EDA FUND BUDGET SUMMARY 2004 2005 2006 2007 Actual Actual Proposed Proposed Revenue Taxes $ 83,425 $ 75,979 $ 80,000 $ 80,000 Intergovernmental State Aid County (Tax abatement) 57,078 26,282 27,000 28,000 Charges for Service 5,200 5,200 Interest 6,650 6,920 5,000 6,000 Miscellaneous Total Revenue 147,153 114,381 112,000 119,200 Expenditures Personal Services 71,189 20,363 41 ,340 95,370 Supplies & Services 100,373 21,585 42,100 45,770 Downtown Fayade Program 49,966 ADC Payment 57,531 Closed Certain teed Payment 51,528 51,000 54,000 Ryan Pmt >;,.,;.,;, ..~ ~-""" 7,000 44,000 Total Expenditures 280,621 91,914 . 141 ,440 239,140 Excess (Deficiency) of ~133,468 22,467 -29,440 (119,940) Revenues over Expenditures Transfers In 59,884 29,230 31,000 70,000 Transferl? Out (3,273) (100,000) (19,200) Excess (Deficiency) Of Revenues over Expenditures & Transfers (76,857) (48,303) 1,560 (69,140) Fund Balance December 31 $ 393,003 $ 344,700 $ 346,260 $ 277,120 R5509BUD LOGISOO1 CITY OF SHAKOPEE 8/10/2006 9:42:51 Fiscal Period: 6 1 06 Budget Report Page - 1 Level Of Rollup 7 2003 2004 2005 6/30/2006 2006 2007 2007 2007 Actual Actual Actual YTD Final Requested Approved Final ..... _ __ __ .._~b~_c~_~~~e 1 Description____ Amount Amount Amount Actual Budget Budget Budlle! Budget 02190 EDA 4000 REVENUES AND EXPENDITURES 4001 REVENUES 4005 TAXES 4010 PROPERTY TAX 4011 CURRENT PROPERTY TAX 69,175- 68,813- 69,827- 33,870- 80,000- 80,000- 80,000- 80,000- 4012 DELINQUENT P~OPERTY TAX 120- 739 181- 4015 FISCAL DISPARITIES 5,321- 11,973- 5,970- 3,191- 4020 MOBIL HOME TAX 2- 2- 1- 0- 4031 EXCESS TAX INCREMENT 48- 4040 AGGREGATE TAX 3,327" --- 4010 PROPERTY TAX 74,618- 83,425- 75,979- 37,062- 80,000- 80,000- 80,000- 80,000- 4005 TAXES 74,618- 83,425- 75,979- 37,062- 80,000- 80,000- 80,000- 80,000- 4200 LICENSES AND PERMITS 4400 INTERGOVERNMENTAL 4450 STATE GRANTS &AIOS 4482 COUNTY GRANTS/AIDS 58,322- 57,078- 26,282- 13,741- 27,000- 28,000- 28,000- 28,000- '4450 STATE GRANTS & AIDS 58,322- 57,078- 26,282- 13,741- 27.000- 28,000- 28,000- 28,000- 4400 INTERGOVERNMENTAL 58,322- 57,078- 26,282- 13,741- 27,000- 28,000- 28,000- 28,000- 4500 CHARGES FOR SERVICE 4510 ADMINISTRATIVE CHARGES 4511 ADMINISTRATIVE CHARGES 5,200- 5,200- 5,200- 5,200- 4510 ADMINISTRATIVE CHARGES 5,200- 5,200- 5,200- 5,200- 4500 CHARGES FOR SERVICE 5,200- 5,200- 5,200- 5,200- 4830 MISCELLANEOUS 4832 INVESTMENT INCOME 4833 INTEREST 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- 4832 INVESTMENT INCOME 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- 4830 MISCELLANEOUS 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- 4001 REVENUES 139,842- 147,153- 114,381- 54,965- 112,000- 119,200- 119,200- 119,200- 6000 EXPENDITURES 6001 WAGES & BENEFITS 6002 WAGES 63,019 62,645 15,047 10,896 32,300 73,030 73,030 73,030 6005 OVERTIME-FT 54 6015 WAGES - PART TIMEITEMP 343 131 539 101 R5509BUD lOGISOOl CITY OF SHAKOPEE 8/10/2006 9:42:51 Fiscal Period: 6 / 06 Budget Report Page - 3 level or Rollup 7 2003 2004 2005 6/30/2006 2006 2007 2007 2007 Actual Actual Actual YTD Final Requested Approved Final Object Code I Description Amount Amount Amount Actual BUdget Budget Budget Budget 6470 DUESITRAININGITRAVEL 6472 CONFERENCElSCHOOUTRAINING 25 325 500 500 500 500 6475 TRAVEUSUBSISTENCE 161 20 500 500. 500 500 6480 DUES 195 520 270 205 800 600 600 600 6490 SUBSCRIPTIONS/PUBLlCA TIONS 1,020 164 500 500 500 500 6470 DUESITRAININGITRAVEL 1,215 709 756 225 2,300 2,100 2,100 2,100 6200 SUPPLIES AND SERVICES 15,113 100,374 21,585 3,396 42,100 45,770 45,770 45,770 6500 DEPRECIATION 6600 MISCELLANEOUS 6640 DESIGNATED MISCELLANEOUS 111,272 109,059 49,966 26,480 58,000 98,000 98,000 98,000 6600 MISCELLANEOUS 111,272 109,059 49,966 26,480 58,000 98,000 98,000 98,000 6800 DEBT SERVICE 6000 EXPENDITURES 201,068 280,622 91,914 44,406 141,440 239,140 239,140 239,140 8005 TOTAL TRANSFERS IN 8010 OPERATING TRANSFERS IN 52,950- 59,884- 29,230- 31,000- 70,000- 70,000- 70,000- 8005 TOTAL TRANSFERS IN 52,950- 59,884- 29,230- 31,000- 70,000- 70,000- 70,000- 8050 TOTAL TRANSFERS OUT 8052 TRANSFERS OUT 8053 TRANSFERS OUT 100,000 19,200 19,200 19,200 8056 OPERATING TRANSFER/CAPITAL FD 3,273 8052 TRANSFERS OUT 3,273 100,000 19,200 19,200 19,200 8050 TOTAL TRANSFERS OUT 3,273 100,000 19,200 19,200 19,200 ---- 4000 REVENUES AND EXPENDITURES 8,276 76,859 46,303 10,559- 1,560- 69,140 69,140 69,140 02190 EDA 8,276 76,859 48,303 10,559- 1,560- 69,140 69,140 69,140 EOA 2007 Budget 2190 2191 Object # . Description Benefits Management Total 6002 Wages FT - Reg. 73,030 73,030 6005 WagesOT - Reg. - 6122 PERA 4,560 4,560 6124 FICA 5,590 5,590 6135 Health 8,960 8,960 6139 PEHP 300 300 6140 Life 190 190 6145 Dental 540 540 6170 Workers Comp 200 200 6180 Compensated Absences 2,000 2,000 6190 Retirement Benefit - Total Personnel 12,190 83,180 95,370 6210 Office Supplies 400 400 6215 Materials - 6240 Equipment Maintenance - 6300 Professional Services - 6310 Attorney 15,000 15,000 6327 . Other Prof Services 22,870 22,870 6332 Postage 200 200 6334 Telephone 300 300 6336 Printing/Publishing 800 800 6338 Advertising 400 400 6350 Insurance - 6354 Property Insurance 1,700 1,700 6400 Rentals - 6420 Equipment Rent - 6430 Building Rent (IS FUND) - 6435 Other Rent 2,000 2,000 6472 Conf / School/Training 500 500 6475 Travel/Subsistence 500 500 6480 Dues 600 600 6490 Subscriptions/Publications 500 500 6640 Designated Miscellaneous 98,000 98,000 Total Supplies & Services - 143,770 143,770 6740 Capital Expenditures - Total $12,190 $ 226,950 $ 239,140 2007 BUDGET Est. 2007 Pay 2007 With COL Inc Title/Description Step 3.0% FICA PERA EDA Position D $ 55,029 $ 4,210 $ 3,439 Charge in Comm Dev 14,000 1,071 875 Charge in Administration N/A 4,000 306 250 Total EDA $ 73,029 $ 5,587 $ 4,564 .. ~,-. ~DA ~~) '\, (v<e..v;$eJ) ~ rP,2 " R5509BUD lOGIS005 CITY OF SHAKO PEE 8/14/2006 15:56:20 Fiscal Period: 6 / 06 Budget Report Page - 1 level Of Rollup 7 2003 2004 2005 6/30/2006 2006 2007 2007 2007 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 02190 EDA 19 EDA 4000 REVENUES AND EXPENDITURES 4001 REVENUES 4005 TAXES 4010 PROPERTY TAX 4011 CURRENT PROPERTY TAX 69,175- 68,813- 69,827- 33,870- 80,000- 80,000- 80,000- 80,000- 4012 DELINQUENT PROPERTY TAX 120- 739 181- 4015 FISCAL DISPARITIES 5,321- 11,973- 5,970- 3,191- 4020 MOBIL HOME TAX 2- 2- 1- 0- 4031 EXCESS TAX INCREMENT 48- 4040 AGGREGATE TAX 3,327- '-.-,- 4010 PROPERTY TAX 74,618- 83,425- 75,979- 37,062- 80,000- 80,000- 80,000- 80,000- 4005 TAXES 74,618- 83,425- 75,979- 37;062- 80,000- 80,000- 80,000- 80,000- 4200 LICENSES AND PERMITS 4400 INTERGOVERNMENTAL 4450 STATE GRANTS & AIDS 4482 COUNTY GRANTS/AIDS 58,322- 57,078- 26,282- 13,741- 27,000- 28,000- 28,000- 28,000- 4450 STATE GRANTS & AIDS 58,322- 57,078- 26,282- 13,741- . 27,000- 28,000- 28,000- 28,000- 4400 INTERGOVERNMENTAL 58,322- 57,078- 26,282- 13,741- 27,000- 28,000- 28,000- 28,000- 4500 CHARGES FOR SERVICE 4510 ADMINISTRATIVE CHARGES 4511 ADMINISTRATIVE CHARGES 5,200- 5,200- 5,200- 5,200- 4510 ADMINISTRATIVE CHARGES 5,200- 5,200- 5,200- 5,200- 4500 CHARGES FOR SERVICE 5,200- 5,200- 5,200- 5,200- 4830 MISCELLANEOUS 4832 INVESTMENT INCOME 4833 INTEREST 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- --- 4832 INVESTMENT INCOME 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- 4830 MISCELLANEOUS 6,902- 6,650- 6,920- 4,162- 5,000- 6,000- 6,000- 6,000- 4001 REVENUES 139,842- 147.153- 114,381- 54,965- 112,000- 119,200- 119,200- 119,200- 6000 EXPENDITURES 6001 WAGES & BENEFITS ,\ 6002 WAGES 63,019 62,645 15,047 10,896 32,300 73,030 73,030 73,030 6005 OVERTIME-FT 54 .", ,~, CITY OF SHAKO PEE .. R5509BUD lOGIS005 8/14/2006 15:56:20 Fiscal Period: 6 I 06 Budget Report Page - 2 level Of RoIlup 7 2003 2004 2005 6/30/2006 2006 2007 2007 2007 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 6015. WAGES - PART TIMElTEMP 343 131 539 101 -- 6002 WAGES 63,362 62,776 15,586 11,050 32,300 73,030 73,030 73,030 6100 BENEFITS 6122 PERA 3,497 3,257 857 659 1,790 4,560 4,560 4,560 6124 FICA 4,799 4,712 1,049 735 2,470 5,590 5,590 5,590 6135 HEALTH 28 3,120 2,362 1,759 4,240 8,960 8,960 8,960 6139 POST EMPLOYMENT HEALTH PLAN 304 301 96 65 150 300 300 300 6140 L1FE/LTD 281 278 69 54 150 190 190 190 6145 DENTAL 339 332 95 80 240 540 540 540 6170 WORKERS COMPENSATION 201 200 250 128 200 200 200 6180 COMPENSATED ABSENCES 1,873 3,786- 2,000 2,000 2,000 6100 BENEFITS 11,321 8,413 4,777 3,480 9:040 22,340 22,340 22,340 6001 WAGES & BENEFITS 74,683 71,189 20,363 14,530 41,340 95,370 95,370 95,370 6200 SUPPLIES AND SERVICES 6201 SUPPLIES & SERVICES 6210 OFFICE SUPPLIES 42 33 115 37 400 400 400 400 6201 SUPPLIES & SERVICES 42 33 115 37 400 400 400 400 6300 PROFESSIONAL SERVICES 6310 ATTORNEY 11,289 11,459 9,936 2,219 20,000 15,000 15,000 15,000 6327 OTHER PROF SERVICES 275- 84,675 6,799 15,000 22,870 22,870 22,870 6300 PROFESSIONAL SERVICES 11,014 96,134 16,735 2,219 35,000 37,870 37,870 37,870 6330 COMMUNICATIONS 6332 POSTAGE 59 100 200 200 200 6334 TELEPHONE 233 197 122 1 300 300 300 300 6336 PRINTING/PUBLlSHING 53 387 712 72 300 800 800 800 6338 ADVERTISING 200 400 400 400 6330 COMMUNICATIONS 286 583 835 132 900 1,700 1,700 1,700 6350 INSURANCE 6352 LIABILITY 1,056 1,415 1,644 783 1,500 1,700 1,700 1,700 6350 INSURANCE 1,056 1,415 1,644 783 1,500 1,700 1,700 1,700 6400 RENTALS 6435 OTHER RENT 1,500 '1,500 1,500 2,000 2,000 2,000 2,000 6400 RENTALS 1.500 1,500 1,500 2,000 2,000 2,000 2,000 , R5509BUD LOGIS005 CITY OF SHAKOPEE I. 8/14/2006 15:56:20 ., Fiscal Period: 6 / 06 Budget Report Page _ 3 level Of Rollup 7 2003 2004 2005 6/30/20 6 2006 2007 2007 2007 Actual Actual Actual YTD Final Requested Approved Final ____ Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget 6470 DUESITRAININGITRAVEl 6472 CONFERENCElSCHOOUTRAINING 25 325 ~ 500 500 500 500 6475 TRAVEUSUBSISTENCE 161 . 20 500 500 500 500 6480 DUES 195 520 270 205 800 600 600 600 6490 SUBSCRIPTIONS/PUBLlCATIONS 1,020 164 . .. 500 500 500 500 6470 DUESITRAININGITRAVEl 1,215 709 756 225 2,300 2,100 2,100 2,100 6200 SUPPLIES AND SERVICES 15,113 100,374 21,585 ,396 42,100 45,770 45,770 45,770 6500 DEPRECIATION 6600 MISCELLANEOUS 6640 DESIGNATED MISCELLANEOUS 111,272 109,059 49,966 2~,480 58,000 98,000 98,000 98,000 6600 MISCELLANEOUS 111,272 109,059 49,966 2El,480 58,000 98,000 98.000 98,000 6800 DEBT SERVICE 1_ 6000 EXPENDITURES 201,068 280,622 91,914 44,406 141,440 239,140 239,140 239,140 8005 TOTAL TRANSFERS IN .." OPERATING TRANSFERS IN ".~~ ".,"- ".2"- I ".- ".,,~ ".,... ".'''' 8005 TOTAL TRANSFERS IN 52,950- 59,864- 29,230- 31,000- 70,000- 70,000- 70,000- ~~~~~ I 8052 TRANSFERS OUT =t. , 8053 TRANSFERS OUT 100,000 19,200 19,200 19,200 ------ 8056 OPERATING TRANSFER/CAPITAL FD 3,273 "50 rnANSFERS OUT "" ,,,.,,,. .... · . 10'" ----".", . ;,.200 8050 TOTAL TRANSFERS OUT 3,273 100,000 I~ 19,200 19,200 -~9,200 I 4000 REVENUES AND EXPENDITURES 8,276 76,859 48,303 11'559- 1,560- 69,140 69,140 69,140 19 EDA 8,276 76,859 48,303 1q,559- 1,560- 69,140 69,140 69,140 02190 EDA 8,276 76,859 48,303 1~,559- 1,560- 69,140 69,140 69,140 I