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Home My WebLink About14.C. Economic Development Authority J~.C. EDA FUND 2009 BUDGET ACTIVITY: Activity includes the operation of the Shakopee Economic Development Authority and staffing the Economic Development Advisory Committee (EDAC) . The EDA's mission is; . to enhance the quality of life in Shakopee by expanding and strengthening the local economYi . broadening the city's job basei . increasing its revenue base through facilitating the preservation, expansion, creation and attraction of quality businesses and related jobs. . The City Administrator is also the EDA's Executive Director, but day to day staffing for the EDA and EDAC is handled primarily by the Community Development Director, with assistance from a part-time economic development contractor. 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: Community Development Director, charge-in from Administration. Professional services: Legal $10,000, other professional services $25,000 Dues: $510 Membership dues for professional economic development associations such as the International Economic Development Council and the Economic Deveiopment Association of Minnesota. Conference/School/Training: $500 Various conferences and training courses sponsored by professional economic development associations mentioned above. .' . Miscellaneous: Certainteed Tax Abatement: Runs through 2009 $50,000. Transfer: City of Shakopee for general overhead 1 CITY OF SHAKOPEE EDA FUND 2009 BUDGET EDA FUND BUDGET SUMMARY 2006 2007 2008 2009 Actual Actual Budget Proposed Revenue Taxes $ 75,584 $ 76,428 $ 80,000 $ 80,000 Intergovernmental State. Aid County (Tax abatement) 27,482 26,376 26,500 26,500 Charges for Service Interest 13,438 20,685 13,000 16,000 Miscellaneous Total Revenue 116,504 123,489 119,500 122,500 Expenditures Personal Services 17 ,219 9,318 12,420 7,790 Supplies & Services 6,923 6,975 58,850 41,390 Downtown Fa<;ade Program 1,703 ADC Payment Certainteed Payment 82,476 51,887 52,500 52,500 Ryan Pmt 45,543 Total Expenditures 106,618 115,426 123,770 101,680 Excess (Deficiency) of 9,886 8,063 (4,270) 20,820 Revenues over Expenditures Transfers In 25,479 80,033 26,000 26,000 Transfers Out (19,200) (19,200) (19,200) Excess (Deficiency) Of Revenues over Expenditures & Transfers 35,365 68,896 2,530 27,620 Fund Balance January 1 267,842 303,207 372,103 374,633 Fund Balance December 31 $ 303,207 $ 372,103 $ 374,633 $ 402,253 2 R5509BUD LOGIS005 CITY OF SHAKOPEE 7/30/200811:51:35 Fiscal Period: 6 I 8 Budget Report Page - 1 Level Of Rollup 7 2005 2006 2007 6/30/2008 2008 2009 2009 2009 Actual Actual Actual YTD Final Req uested Approved Final Object Code / Description Amount Amount Amount Actual Budget Budget Budget Budget - 02190 EDA 19 EDA 6000 EXPENDITURES 6001 WAGES & BENEFITS 6002 WAGES 15,047 13,061 7,565 664 10,000 6,500 6,500 6,500 6005 OVERTIME-FT 54 6015 WAGES - PART TIMEITEMP 539 178 33 6002 WAGES 15,586 13,293 7,598 664 10,000 6,500 6,500 6,500 6100 BENEFITS 6122 PERA 857 789 456 41 650 440 440 440 6124 FICA 1,049 889 533 45 770 500 500 500 6135 HEALTH 2,362 1,902 605 73 840 350 350 350 6139 POST EMPLOYMENT HEALTH PLAN 96 71 23 3 30 6140 L1FE/L TO 69 61 29 3 40 6145 DENTAL 95 87 29 3 40 W 6170 WORKERS COMPENSATION 250 128 46 4 50 6100 BENEFITS 4,777 3,927 1,720 173 2,420 1,290 1,290 1,290 6001 WAGES & BENEFITS 20,363 17,220 9,318 837 12,420 7,790 7,790 7,790 6200 SUPPLIES AND SERVICES 6201 SUPPLIES & SERVICES 6210 OFFICE SUPPLIES 115 110 92 400 6201 SUPPLIES & SERVICES 115 110 92 400 6300 PROFESSIONAL SERVICES 6310 ATTORNEY 9,936 2,729 535 15,000 10,000 10,000 10,000 6318 FILING FEES 46 6327 OTHER PROF SERVICES 6,799 308 1,369 46 35,000 25,000 25,000 25,000 6300 PROFESSIONAL SERVICES 16,735 3,037 1,950 46 50,000 35,000 35,000 35,000 6330 COMMUNICATIONS 6332 POSTAGE 59 200 150 150 150 6334 TELEPHONE 122 3 1 300 150 150 150 6336 PRINTING/PUBLISHING 712 1,159 16 1 800 1,200 1,200 1,200 6338 ADVERTISING 400 400 400 400 6330 COMMUNICATIONS 835 1,220 16 1 1,700 1,900 1,900 1,900 6350 INSURANCE R5509BUD LOGIS005 CITY OF SHAKOPEE 7/30/200811:51:35 Fiscal Period; 6 / 8 Budget Report Page - 2 Level Of Rollup 7 2005 2006 2007 6/30/2008 2008 2009 2009 2009 Actual Actual Actual YTD Final Requested Approved Final Object Code / Description Amount Amount Amount Actual Budget 8udget Budget Budget 6352 LIABILITY 1,644 783 1,476 1,700 1,500 1,500 1,500 6350 INSURANCE 1,644 783 1,476 1,700 1,500 1,500 1,500 6400 RENTALS 6430 BUILDING RENT (IS FUND) 2,856 1,460 2,950 3,480 3,480 3,480 6435 OTHER RENT 1,500 1,500 6400 RENTALS 1,500 1,500 2,856 1,460 2,950 3,480 3,480 3,480 6470 DUESITRAININGITRAVEL 6472 CONFERENCE/SCHOOUTRAINING 325 500 500 500 500 6475 TRAVEL/SUBSISTENCE 161 68 500 500 500 500 6480 DUES 270 205 585 600 510 510 510 6490 SUBSCRIPTIONS/PUBLICATIONS 500 500 500 500 6470 DUES/TRAININGITRAVEL 756 273 585 2,100 2,010 2,010 2,010 6200 SUPPLIES AND SERVICES 21,585 6,923 6,975 1,507 58,850 43,890 43,890 43,890 ~ 6500 DEPRECIATION 6600 MISCELLANEOUS 6640 DESIGNATED MISCELLANEOUS 49,966 82,476 99,133 52,500 50,000 50,000 50,000 6600 MISCELLANEOUS 49,966 82,476 99,133 52,500 50,000 50,000 50,000 6800 DEBT SERVICE 6000 EXPENDITURES 91,914 106,619 115,426 2,344 123,770 101,680 101,680 101,680 19 EDA 91,914 106,619 115,426 2,344 123,770 101,680 101,680 101,680 02190 EDA 91,914 106,619 115,426 2,344 123,770 101,680 101,680 101,680 EDA 2009 Budget 2191 Object # Description Management Total 6002 Wages FT - Reg. 6,500 6,500 6005 Wages OT - Reg. - 6122 PERA 440 440 6124 FICA 500 500 6135 Health 350 350 6139 PEHP - - 6140 Life - - 6145 Dental - - 6170 Workers Comp - - Total Personnel 7,790 7,790 6210 Office Supplies - 6215 Materials - 6240 Equipment Maintenance - 6300 Professional Services - 6310 Attorney 10,000 10,000 6327 Other Prof Services 25,000 25,000 6332 Postage 150 150 6334 Telephone 150 150 6336 Printing/Publishing 1,200 1,200 6338 Advertising 400 400 6352 Liability Insurance 1,500 1,500 6400 Rentals - 6420 Equipment Rent - 6430 Building Rent (IS FUND) 3,480 3,480 6435 Other Rent - 6472 Conf / School/Training 500 500 6475 Travel/Subsistence 500 500 6480 Dues 510 510 6490 Subscriptions/Publications 500 500 6640 Designated Miscellaneous 50,000 50,000 Total Supplies & Services 93,890 93,890 6740 Capital Expenditures - Total $ 101,680 $ 101,680 5 2009 BUDGET Est. 2009 Pay EDA Fund 2009 With COl Inc Title/Description Step 3.0% FICA PERA EDA Specialist $ - $ - $ - Charge in Comm Dev N/A 5,500 421 371 Charge in Administration N/A 1,000 77 68 Total EDA $ 6,500 $ 498 $ 439 6