2022 City of Shakopee Budget

134

2022 Annual Budget

Economic Development Authority

Fund:

Description of Services:

The EDA does not currently constitute a separate department, but instead represents a number of services offered by the City related to economic development. These services are overseen by the Planning and Development Director with the assistance of the Economic Development Specialist and other staff as required. The EDA Board is comprised of the City Council Members. The City Administrator is also the Executive Director of the EDA.

Budget:

Actual

Actual

Budget

Budget

Expenditures by Category

2019

2020

2021

2022

Personnel

$

165,823 164,243 26,590 (13,220) 343,436

$

176,024 378,518

$

178,100 190,775 25,000

$

210,800 289,375 25,000

Supplies and Services

Miscellaneous Capital Outlay

2,216

(23,194) 533,564

-

-

Totals

$

$

$

393,875

$

525,175

Dedicated Revenues

$

399,519

1,811,020 $

$

712,000

$

512,000

Expenditures by Category and Dedicated Revenue

$2,000,000

$1,500,000

Capital Outlay Miscellaneous Supplies and Services Personnel Dedicated Revenues

$1,000,000

$500,000

$-

Actual 2019

Actual 2020

Budget 2021

Budget 2022

$(500,000)

Key Measures:

Actual

Actual

Projected

Projected

2019

2020

2021

2022

Number of Employees (FTEs) Overall Improvement Value of Façade Loans Façade Loans Granted

1.5

1.5

1.5

1.5

76,500 28,650

85,000 35,000

85,000 35,000

70,000 35,000

# of Façade Loans

1 0

1 1

1 0

1 1

Grants Received for Economic Development