HomeMy WebLinkAbout6. 2005 Budget
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CITY OF SHAKOPEE
Memorandum
TO: EDA Commissioners
Mark McNeill, Executive Director
FROM: Gregg Voxland, Finance Director
SUBJ: 2005 Budget
DATE: December 13~ 2004
Introduction & Background
As a follow up to the last EDA meeting, attached is the 2005 adopted
budget. Please note that there is no revenue from the repayment of the
loan to Challenge Printing. Therefore, the $100,000 designated for a
revolving loan program as well as the $50,000 designated for the fa9ade
or loan program come out of the EDA fund balance.
Action
Move to redirect $50,000 from the fa9ade program to the revolving loan
program in the 2005 EDA budget.
Gr~OXland
Finance Director
c, \gregg\memo\
CITY OF SHAKOPEE
EDA FUND
2005 BUDGET
EDA FUND BUDGET SUMMARY
2002 2003 2004 2005
Actual Actual Budaet Proposed
Revenue
Taxes $ 74,377 $ 74,618 $ 80,000 $ 80,000
Intergovernmental 65,307 72,620
State Aid
County (Tax abatement) 58,3?2 32,620
Charges for Service 5,200
Interest 25,783 6,901 20,000 20,000
Miscellaneous
Total Revenue 170,667 139,841 172,620 132,620
Expenditures
Personal Services 65,574 74,683 71,520 75,710
Supplies & Services 30,639 15,113 30,670 26,520
Downtown Fa<fade Program 50,000
ADC Payment 119,920 111 ,272 55,630 Closed
Certainteed Payment II II 61,850 61,850
Revolving Loan Fund 100,000
Contingency
Total Expenditures 216,133 201,068 219,670 314,080
Excess (Deficiency) of -45,466 -61,227 . -47,050 -181,460
Revenues over Expenditures
Transfers ,55,914 52,950 49,230 29,230
Excess (Deficiency) Of Revenues
over Expenditures & Transfers 10,448 (8,277) 2,180 (152,230)
Fund Balance December 31 $ 401 ,280 $ 393,003 $ 395,183 $ 242,953