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ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
# -- '''", CITY OF ANDOVER (
ì COUNTY OF ANOKA
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RES. No. R-º-L~
A RESOLUTION DESIGNATING DEPOSITORIES OF CITY FUNDS AND
SUPPLEMENTAL DEPOSITORIES OF CITY FUNDS FOR INVESTMENT PURPOSES
ONLY.
WHEREAS, Minnesota Statutes, Section 118 sets forth the procedures for the
deposit of public funds which include requiring the Andover City Council to annually
designate the official depositories for City funds and manage the collateral pledged to such
funds; and
WHEREAS, other financial institutions are, from time to time, able to pay the City
of Andover interest rates on deposits which are greater than can be obtained from the
official depositories.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of ;
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Andover that the City's official depository for 1996 is the Anoka office of Norwest Bank I
Minnesota, N.A.
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\.J BE IT FURTHER RESOLVED that Norwest Investment Services Inc.; the
Minnesota Municipal Money Market Fund; Firstar Trust Co. Of Minnesota; FBS
Investment Services Inc.; Juran and Moody, Inc.; Merrill Lynch, Pierce, Fenner and Smith
Inc.; Dain Bosworth Inc.; Dean Witter Reynolds Inc.; Piper Jaffray Inc.; Smith Barney I
Shearson Inc.; PaineWebber Inc.; and Investment Emporium in conjunction with Royal
Alliance Associates, Inc. Be designated as additional depositories for 1996 for investment
and cash management purposes only.
BE IT STILL FURTHER RESOLVED that the Finance Director of the City of !
Andover is hereby authorized to place investments, transfer funds between said investment
institutions, release disbursements prepared by the City Treasurer and approved by the
Board and is designated to approve the release and acceptance of all collateral to be held in
conjunction with funds on deposit with authorized institutions.
Adopted by the Andover Economic Development Authority Board of Commissioners the
2nd day of January, 1996.
ATTEST:
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ECONOMIC DEVELOPMENT AUTHORITY
IN AND FOR THE
I CITY OF ANDOVER
COUNTY OF ANOKA
STATE OF MINNESOTA
RES. NO. R,.OO2-96
RESOLUTION ADOPTING THE 1997 ECONOMIC DEVELOPMENT FUND
BUDGET.
WHEREAS, the preparation and adoption of operating budgets is recognized a
sound financial practice; and
WHEREAS, the Board of Commissioners has the responsibility to appropriately
and efficiently manage the funds of the Authority;
NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of
the Andover Economic Development Authority hereby establishes the 1997 Economic
Development budget as submitted in the amount of$82, 674.
Adopted by the Andover Economic Development Authority Board of Commissioners on
this 17th day of December, 1996.
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ATTEST:
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/,\ CITY OF ANDOVER (J 12/6/962:57 PMECONDEV.XLS
\,~/Revenue/Expenditure Budget WorksheeL
BUdget Year 1997
ECONOMIC DEVELOPMENT AUTHORITY : SPECIAL REVENUE
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Revenues
Revenue! Actual Actual Actual Budget Budget
~ i 1993 1994 1995 1996 1997
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31050!Current Tax Increments $ - i$ - :$ - $ 4,000.00 : $ -
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Subtotal $ - $ - $ - $ 4,000.00 $ -
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34101 i Rental Fees 1$ - 1$ - 1$ - '$ - $ -
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Subtotal $ - $ $ - $ - $ -
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36240 i TIF Admin. Fee 1$ - :$ - i $ 35,400.00 $ 78,200.00 i $ 78,200
362101 Interest Earned I - I 938.39 i 330.28 : 1,500.00 ¡ 1,500
36255! Sale of Land I 53,040.90 i 10,000.00 : 2,974
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39201 ¡Transfers from Other - 2,000.00 - - i -
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Subtotal - '$ 55,979.29 $45,730.28 $ 79,700.00 82,674
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;:~J~t2;TOTA 1{REVENUES"::; , ' [55~79;29E<$<'T45730'2a'It$"937t)O<oo~f~"~82 614~
:~;:'t:r . * .~%~- ,;:, ,;- ....l'~'.. ~~J1'....... '~"" .. ~11t,~ ~0~t%:J;~:¡;·;;:.... ~.., ,',.:i
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: Expenditures i
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Object Actual Actual Actual Budget , Budget
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~ I ~ I 1994 1m 1996 1997
: Personal Services
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101 Salaries 1$ - i$ - 1$ 48,159.61 ' $ 53,460.00 , $ 58,637
121 'PERA -I - - 2,096.60 2,566.00 · 2,627
122 FICA - - 2,879.23 3,315.00 ' 3,636
125 Medicare - - 673.35 775.00 850
131 Health Insurance - - 2,776.28 3,454.00 3,890
132 Dental Insurance - - - - 262
133 Life Insurance - - 17.38 11.00 112
Subtotal $ - $ - $ 56,602.45 $ 63,581.00 $ 70,014
Supplies and Materials
201 General Office Supplies $ - $ - $ 1,292.14 $ 4,000.00 $ 2,000
Subtotal $ - $ - $ 1,292.14 $ 4,000.00 $ 2,000
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· ') CITY OF ANDOVER fj 12/6/962:57 PMECONDEV.XLS
'_J Revenue/Expenditure Budget Worksheet·
Budget Year 1997
Object 1 Actual Actual Actual Budget __,__ Bu~~
-Code- ~---- .1m ~ 1995 19.9.2 I 1997
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! Purchased Services
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301 : Professional Services :$ - $ 3,827.90 ; $ 157.50 $ 3,000.00 $ 3,000
304 ¡Attorney - 3,126.45 ! - 2,100.00 2,100
322 , Postage - - - 250.00 500
330 : Transportation - - 34.00 1,500.00 : 1,600
351 I Publishing - - 980.00 2,000.00 ' 2,000
352 i Rate Programming - - - 5,000.00 . -
360 ¡Insurance - - 165.00 165.00 190
Subtotal $ - $ 6,954.35 $ 1,336.50 $ 14,015.00 $ 9,390
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¡ Other Services and Charges
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416 I Computer Services ,$ - 1$ - 1$ - $ - :$ 170
433 ¡Dues/Registrations - 195.00 ; - 1,000.00 , 1,000
499 1 Contingency - ! - i 6.000.00 1.104.00 : 100
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Subtotal $ - $ 195,00>$ 6,000.00 $ 2,104.00. $ 1,270
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Equity Transfers I
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727 ! Transfer to Other Funds : $ - :$ - - - :$ -
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Subtotal $ - $ - $ -
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;!$]tO.1AEEXP,ENOtt01 ..~""",~",,,,",",¡~C"''''~''-;=.d'''--~7:·1~9J35>'''''$-.r65~31'f09~~'8317OO:(J(J·:¡T'$;'P"è";~r.:r;:S2"'614'
,,"'^-. "--."" - - +~ __ -;¡.;.i, - - i; ',- > - - ~ ... .t:, Þ;,-~'i1i!"t;oii.&~.i1~'-'R:'I"i,> ~~~ 1. .., ...~. ,i$' . ,t." ... ~~.~'-¥. f ", : .~'i;:~X:~:~- f __ c.::
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