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CITY OF LAKEVILLE
RESOLUTION NO. o7-2is
RESOLUTIONAMENDING THE 2007
ECONOMIC DEVELOPMENT REVOL VING LOAN FUND BUDGET
NOW THEREFORE, BE IT RESOLVED that the Economic Development
Revolving Loan Fund Budget hereby approved and amended for the fiscal year
ending December 31, 2007.
2007 Zoo?
ADOPTED AMENDED
BUDGET ADJUST BUDGET NOTES
Revenues
Interest on Investments $ 1,912 $ - $ 1,912
Expenditures
Economic Impact Study - Springsted - 11,500 11,500 (1)
Net Increase/(Decrease) 1,912. (11,500) (9,588)
Fund Balance, January 1 49,702 (1;559) 48,143 (2)
• Fund Balance, December 31 $ 5T,614 $ (13,059) $ 38,555
BE 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 17th day of
December, 2007.
ITY OF EVILLE
/i
o y a I, Mayor
A EST;
C f,
Charlene Friedges, Ci lerk
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Exhibit A
CITY OF LAKEVILLE
2007 ECONOMIC DEVELOPMENT REVOLVING LOAN SPECIAL REVENUE .FUND.
ADJUSTMENT
(1) Increase expenditures to account for an Economic Impact Study prepared
by Springsted.
Other Charges for Services -Economic Impact Study 11,500
Decrease Fund Balance, December 31, 2007 (11,500)
(2) Adjust the budgeted January 1, 2007 Fund Balance to reflect the actual December 31,
2006 Fund Balance carryforward.
Actual Fund Balance, January 1, 2007 48,143
Budgeted Fund Balance, January 1 2007 49,702
Decrease Fund Balance, January 1, 2007 1,559
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