HomeMy WebLinkAbout2016 01_Adoption of Annual Budget OEDAOWASSO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2016 -01
A RESOLUTION PROVIDING FOR THE ADOPTION OF AN ANNUAL OPERATING BUDGET
FOR THE OWASSO ECONOMIC DEVELOPMENT AUTHORITY; ESTABLISHING LEVELS OF
EXPENDITURES AS PROVIDED BY STATUTE; AND ESTABLISHING AN EFFECTIVE DATE.
WHEREAS: It is the intent of the Owasso Economic Development Authority to adopt an
operating budget for fiscal year 2016 -2017; and,
WHEREAS: The adoption of such budget is vital to the continuation of services to the citizens
of Owasso; and,
WHEREAS: Public access to the adopted budget is desired; and,
WHEREAS: Certain filing requirements are mandated by State Statutes.
NOW THEREFORE, BE IT RESOLVED BY THE TRUSTEES OF THE OWASSO ECONOMIC DEVELOPMENT
AUTHORITY:
THAT: Total resources available in the amount of $9,078 and total appropriations in the
amount of $5,000 are hereby established.
THAT: The effective date of this Resolution shall be July 1, 2016.
APPROVED AND ADOPTED this iZ day of 2016 by the Trustees of the Owasso
Economic Development Authority.
Authority Chair
D
DESCRIPTION
The Owasso Economic Development Authority Fund is established to account for
revenues and expenditures of the City's Economic Development Trust Authority. The
purpose of the OEDA is to plan, implement, and promote projects and programs that
will directly benefit the economic wellbeing of the community.
BUDGET HIGHLIGHTS
The recommended FY 2016 -17 budget includes $5,000 in contingency funding for
Economic Development activities that may arise during the fiscal year.
Owasso Economic Development Authority
Statement of Revenues, Expenditures and Changes in Fund Fund Balance
Budgetary Basis
Revenues
Investment Revenues
Total Operating Revenues
Transfer from Hotel Tax Fund
Total Revenues
Expenditures
Services & other charges
Total Operating Expenses
Change in Fund Balance
Projected Beginning Balance
Projected Ending Balance
Actual
FY 2013 -14
$ 8
8
500,000
500,008
Actual Projected Proposed
FY 2014 -15 FY 2015 -16 FY 2016 -17
$ 8 $ 8 $ 8
8 8 8
0 0 0
8 8 8
500,000
0
0
5,000
500,000
0
0
5,000
8
8
8
(4,992)
9,054
9,062
9,070
9,078
$ 9,062 $
9,070 $
9,078 $
4,086