HomeMy WebLinkAbout08-179 CITY OF LAKEVILLE
RESOLUTION NO. os-1~9
RESOLUTION AMENDING THE 2008
ECONOMIC DEVELOPMENT FUND BUDGET
NOW THEREFORE, BE IT RESOLVED that the Economic Development
Fund Budget hereby approved and amended for the fiscal year ending
December 31, 2008.
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ADOPTED AMENDED
BUDGET ADJUST BUDGET NOTES
Revenues
Conduit debt fee $ - $ 12,500 $ 12,500 (1)
Investment income 1,953 - 1,953
Total Revenues 1,953 12,500 14,453
Expenditures -none - - -
Net Increase/(Decrease) 1,953 12,500 14,453
Fund Balance, January 1 39,050 11,883 50,933 (2)
Fund Balance, December 31 $ 41,003 $ 24,383 $ 65,386
BE IT FURTHER RESOLVED that the notes pertaining to the adjustments as
shown above are shown on Exhibit A attached hereto.
APPROVED AND AMENDED by the Lakeville City Council this 15th day of
December, 2008.
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oll Dahl, Mayor
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Charlene Friedges, Ci Clerk
Exhibit A
CITY OF LAKEVILLE
2008 ECONOMIC DEVELOPMENT SPECIAL REVENUE FUND
ADJUSTMENT
(1) Beginning in 2008, a conduit fee is being collected on a private activity revenue
bond issue.
Conduit debt fee 12,500
Increase Fund Balance, December 31, 2008 12,500
(2) Adjust the budgeted January 1, 2008 Fund Balance to reflect the actual December 31,
2007 Fund Balance carryforward.
Actual fund Balance, January 1, 2008 50,933
Budgeted Fund Balance, January 1, 2008 39,050
Increase Fund Balance, December 31, 2008 11,883