HomeMy WebLinkAbout4.B.3. EDA q. 8.3•
CITY OF SHAKOPEE
2012 EDA FUND BUDGET DESCRIPTION
DIVISION: COMMUNITY DEVELOPMENT
MISSION STATEMENT:
• Enhance the quality of life in Shakopee by expanding and strengthening the local economy;
• Increase the number of jobs available in the City;
• Broaden the City's tax base;
• Increase the City's revenue base by facilitating the preservation, expansion, creation and attraction of
quality businesses and related jobs.
ACTIVITIES:
The major activities include;
• Work with the Economic Development Advisory Committee (EDAC), City Council /EDA to develop
and implement new strategies and programs to accomplish the EDA's mission.
• Respond to inquiries related to providing assistance and /or incentives related to the possible
creation, location or expansion of businesses.
• Administer the Improvement Loan Program (ILP)
The City Administrator is also the EDA Executive Director. The activities of the EDA are largely carried out
by the Community Development Director with the assistance of other members of the Planning staff, and
as needed, with the City's economic development consultant..
MEASUREMENT OF GOALS: It is expected that the EDAC may develop specific goal recommendations and
related means of measuring success in attaining the goals ultimately adopted by the EDA.
BUDGET CONSIDERATIONS — 2013 AND BEYOND:
• As a part of 2012 budget discussions, the Council will be discussing the role of, and size of the RLF and
Improvement Loan Fund. It is assumed that these will be evaluated with each budget cycle in terms of
the effectiveness of these programs, and whether they should be increased or reduced in size. These
decisions will clearly have an impact on the EDA levy, and by extension the EDA budget, as this would
be the principal source for these two funds..
• In the future, should the Council determine that more staff time is needed to implement the plans
developed by the EDAC and adopted by the Council, such decision would clearly impact the size of the
EDA budget.
• The City is experiencing a significant increase in the number of inquiries about new industrial
developments. In all cases, they are not only interested in the City's approval policies, but also the
nature of the incentives the City is willing to look at and offer, including TIF and tax abatement.
Competition from other cities for these projects is very strong, and the City Council will need to
determine what it's level of commitment to providing incentives is.
R5509BUD SH005P1V CITY OF SHAKOPEE 7/22/2011 12:22:30
By Co, Div (pb), Object (1 Yr Bdgt) - Portrait Budget Report Page - 1
Fiscal Period: 6 / 11
Level Of Rollup 7
2009 2010 6/30/2011 2011 2012
Actual Actual YTD Final Proposed
Object Code / Description Amount Amount Actual Budget Budget
02190 EDA
19 EDA
6000 EXPENDITURES
6001 WAGES & BENEFITS
6002 WAGES 8,441 11,835 8,232 8,000 10,900
6015 WAGES - PART TIME/TEMP 46 198 329
6002 WAGES 8,487 12,033 8,561 8,000 10,900
6100 BENEFITS
6122 PERA 552 845 608 590 790
6124 FICA 553 790 581 610 830
6135 HEALTH 963 1,398 901 350 350
6139 POST EMPLOYMENT HEALTH PLAN 27 34 16 30 30
6140 LIFE /LTD 36 34 17 40 40
6145 DENTAL 38 49 24 40 40
6170 WORKERS COMPENSATION 57 80 48 60 60
6100 BENEFITS 2,225 3,230 2,196 1,720 2,140
6001 WAGES & BENEFITS 10,712 15,263 10,757 9,720 13,040
6200 SUPPLIES AND SERVICES
6201 SUPPLIES & SERVICES
6210 OFFICE SUPPLIES 100 218 22 100 100
6201 SUPPLIES & SERVICES 100 218 22 100 100
6300 PROFESSIONAL SERVICES
6310 ATTORNEY 323 384 140 6,000 1,000
6327 OTHER PROF SERVICES 114 54 250 25,000 20,000
6300 PROFESSIONAL SERVICES 437 438 390 31,000 21,000
6330 COMMUNICATIONS
6332 POSTAGE 1 1 150
6334 TELEPHONE 150
6336 PRINTING /PUBLISHING 22 21 1,150 1,150
6330 COMMUNICATIONS 22 22 1 1,450 1,150
6350 INSURANCE
6352 LIABILITY 798 290 1,500 1,030
6350 INSURANCE 798 290 1,500 1,030
6400 RENTALS
6430 BUILDING RENT (IS FUND) 3,480 4,416 2,088 4,180 4,130
6400 RENTALS 3,480 4,416 2,088 4,180 4,130
6470 DUES/TRAINING/TRAVEL
6472 CONFERENCE /SCHOOUTRAINING 500 600
6475 TRAVEUSUBSISTENCE 500 500
6480 DUES 530 530
6490 SUBSCRIPTIONS /PUBLICATIONS 250 300
6470 DUES/TRAINING/TRAVEL 1,780 1,930
6200 SUPPLIES AND SERVICES 4,836 5,384 2,501 40,010 29,340
6500 DEPRECIATION
R5509BUD SH005P1V CITY OF SHAKOPEE 7/22/2011 12:22:30
By Co, Div (pb), Object (1 Yr Bdgt) - Portrait Budget Report Page - 2
Fiscal Period: 6 / 11
Level Of Rollup 7
2009 2010 6/30/2011 2011 2012
Actual Actual YTD Final Proposed
Object Code / Description Amount Amount Actual Budget Budget
•
6600 MISCELLANEOUS
6640 DESIGNATED MISCELLANEOUS 78,305 13,865 850
6600 MISCELLANEOUS 78,305 13,865 850
6800 DEBT SERVICE
6000 EXPENDITURES 93,854 34,512 14,109 49,730 42,380
19 EDA 93,854 34,512 14,109 49,730 42,380
02190 EDA 93,854 34,512 14,109 49,730 42,380
CITY OF SHAKOPEE, MINNESOTA
2012 Budget
EDA FUND BUDGET SUMMARY
2009 2010 2011 2012
Actual Actual Budget Proposed
Revenue
Taxes $ 77,081 $ 81,210 $ - $ 80,000
Intergovernmental
State Aid
County (Tax abatement) 31,440 33,713
Charges for Service
Interest 22,746 15,236 15,000 10,000
Miscellaneous
Total Revenue 131,267 130,159 15,000 90,000
Expenditures
Personal Services 10,712 15,263 9,720 13,040
Supplies & Services 4,836 5,384 40,010 29,340
Downtown Facade Program 50,000
Certainteed Payment 78,305 78,305
Ryan Pmt
Total Expenditures 93,853 98,952 49,730 92,380
Excess (Deficiency) of
Revenues over Expenditures 37,414 31,207 (34,730) (2,380)
Transfers In 36,140 32,720
Transfers Out (19,200) (19,200) (11,200) (11,200)
Excess (Deficiency) Of Revenues
over Expenditures & Transfers 54,354 44,727 (45,930) (13,580)
Fund Balance January 1 372,105 447,895 497,721 451,791
Fund Balance December 31 $ 447,895 $ 497,721 $ 451,791 $ 438,211
EDA
2012 Budget
2012
2191
Object # Description Management
6003 Wages FT - Reg. 10,900
6005 Wages OT - Reg.
6122 PERA 790
6124 FICA 830
6135 Health 350
6139 PEHP 30
6140 Life 40
6145 Dental 40
6170 Workers Comp 60
Total Personnel 13,040
6210 Office Supplies 100
6310 Attorney 1,000
6327 Other Prof Services 20,000
6332 Postage
6334 Telephone
6336 Printing /Publishing 1,150
6352 Liability Insurance 1,030
6430 Building Rent (IS FUND) 4,130
6472 Conf / School / Training 600
6475 Travel /Subsistence 500
6480 Dues 530
6490 Subscriptions /Publications 300
Total Supplies & Services 29,340
6740 Capital Expenditures
Total $ 42,380