BLAINE EDA - Joe Huss, Finance Director
Title
ADOPTING THE 2019 EDA BUDGET
Background
The EDA discussed its 2019 budget at the City’s annual Truth-In-Taxation public hearing on December 13, 2018. The budget presented herein reflects the 2019 budget for which the EDA gave conceptual approval at the December 13 hearing.
Under a separate resolution, and in association with the attached resolution, the EDA adopted the 2019 property tax levy.
Schedule of Actions
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December 13, 2018 |
Truth-in-Taxation Public Hearing |
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December 20, 2018 |
Adopt 2019 EDA Budget |
Recommendation
By motion, adopt the resolution included herein.
Body
WHEREAS, a proposed EDA Budget for the fiscal year commencing January 1, 2019 has been prepared by the Executive Director; and
WHEREAS, said proposed Budget has been prepared and presented to the EDA Board in accordance with all statutes and ordinances of the City of Blaine; and
WHEREAS, the EDA has examined, studied, and reviewed said proposed Budget; and
WHEREAS, a public hearing was held and conducted in accordance with the truth-in-taxation laws so as to give interested citizens a reasonable opportunity to be heard; and
WHEREAS, the EDA has, after due consideration and deliberation, made such amendments and adjustments in the proposed 2019 Budget as they consider necessary, desirable, or expedient.
NOW, THEREFORE, BE IT RESOLVED by the EDA of the City of Blaine as follows:
1. That the proposed EDA Budget shown below is approved.
2. That the 2019 budget appropriations shown below are approved.
3. That the City Manager/Executive Director is authorized and directed to implement and to administer, within the budgetary funding limits and relevant State and City laws and regulations, said approved EDA Budget.
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REVENUES: |
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Property Taxes |
$680,000 |
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Lodging taxes |
5,000 |
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TIF Administration fees |
18,000 |
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Building rentals |
15,000 |
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Billboard rentals |
153,900 |
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Program fees |
14,000 |
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Investment Earnings |
75,600 |
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Other |
3,000 |
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TOTAL REVENUES |
$964,500 |
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EXPENDITURES: |
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Personal services |
$171,800 |
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Supplies |
500 |
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Professional services |
1,500 |
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Other |
3,700 |
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I-35 Coalition |
15,000 |
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3M Tournament |
100,000 |
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Monument signage |
120,000 |
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Business Loans Program |
250,000 |
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Fire suppression grants |
90,000 |
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Business appreciation |
22,500 |
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Other programs |
12,700 |
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General administrative fees |
333,010 |
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TOTAL EXPENDITURES |
$1,120,710 |
PASSED by the Blaine EDA this 20th day of December, 2018.