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4.3 EDA BALANCE SHEET 07-15-2024
2025 BUDGET DETAIL Dept:920-6210 - Economic Development Authority Acct.20242025 202120222023 Explanation/Detail of Supplies or Services No.BUDGETBUDGET ActualActualActual REVENUES: 3111Property Taxes 362,164 360,527 392,447 415,950 425,959 3322MV Credit 199 210 232 3621Interest Income 1,396 13,333 51,185 15,000 25,000 3629Miscellaneous Revenue 23,506 - 3949Transfers In - HRA 3,500 3,500 4,000 4,000 4,000 TOTAL EDA REVENUES 390,765 377,570 447,864 434,950 454,959 EXPENDITURES: PERSONAL SERVICES 4101Regular Pay 83,612 93,298 115,979 123,900 130,774 4103Part-time Pay 12,600 12,600 12,600 12,600 12,600 4104PERA 5,697 6,700 8,788 9,500 9,988 4105FICA 5,816 6,286 7,698 8,350 8,780 4107Medicare 1,412 1,522 1,827 2,000 2,079 4108Insurance 5,131 17,703 24,106 24,300 25,520 4109Workers Comp 483 516 473 550 668 TOTAL PERSONAL SERVICES 114,751 138,625 171,471 181,200 190,409 SUPPLIES 4201 Office Supplies 2,584 7,250 1,719 2,500 3,000 Office supplies 2,500 2,500 Computer equip 500 4212 Fuels & Lubes 80 55 - 50 50 Unleaded gas 50 50 TOTAL SUPPLIES 2,664 7,305 1,719 2,550 3,050 SERVICES & CHARGES 4304 Legal Fees 9,237 7,027 10,786 10,000 10,000 Misc. 10,000 10,000 4319 Other Professional Services 7,590 - - 27,000 35,000 Consulting/Studies 27,000 35,000 Process mapping - 4321 Telephone 430 12 - 400 400 Cell phone (2) 400 400 4322 Postage 26 10 40 200 100 Marketing mailings 200 100 4331 Conferences/Schools 10,769 5,035 5,946 10,450 11,000 EDAM 2,500 1,500 Annual IEDC Conference - - Chamber Events 500 500 MREJ 1,000 1,000 MNCREW - - CMMA 350 400 Ehlers/Baker Tilly Symposium 600 600 Misc. training - IEDC Certification - 1,500 MAEDC (BP and Competitive Conf.) 2,500 2,500 Other 3,000 3,000 4349 Advertising/Marketing 44,780 27,367 30,914 67,200 63,600 Community Profiles 2,000 Advertising (Production & Publication) 8,000 8,000 Direct Mailings - Mfg Week - 100 Promo items 1,000 1,000 Special events 2,000 2,000 Sponsorships (City/EDA) 3,000 4,000 Catalyst 5,000 5,000 Trade Shows & Lead Generation (includes travel) 8,000 8,000 Site Selector Event (Economix, Etc) - moved from 4331 3,000 3,000 EDA Website (EDA share - 1/2 EDA & 1/2 HRA) 5,700 6,000 Lead Forensics (2023 - no longer shared by EDA/HRA) - - Promotion & Awards 1,500 1,500 Holiday card marketing - - Together Elk River Campaign 20,000 20,000 Energy City Program (rebates) 2,500 1,000