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TO: THE HONORABLE CHAIR AND TRUSTEES
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
FROM: CHELSEA LEVO FEARY
ECONOMIC DEVELOPMENT DIRECTOR
SUBJECT: FISCAL YEAR 2018 -19 BUDGET APPROVAL
RESOLUTION NO. 2018 -01
DATE: March 6, 2018
BACKGROUND:
The proposed budget for fiscal year 2018 -19 is presented for the OEDA Trustees review.
As a Title 60 Public Trust, the OEDA is required to file an annual budget with its
beneficiary, the City of Owasso. The budget or appropriation for a public trust is not a
legal restriction on the expenditure of funds as it is for a municipality. Resolution No. 2018-
01 adopts the annual operating budget for the OEDA.
RECOMMENDATION:
Staff recommends OEDA Trustee approval of Resolution No. 2018 -01 adopting the FY
2018 -19 budget proposal with estimated resources of $9,095 and total appropriations for
expenditure of $5,000.
ATTACHMENTS:
OEDA Proposed FY 2018 -19 Budget
OEDA Budget Adoption Resolution
Summary of Revenues and Expenditures
Owasso Economic Development Authority - Fund 50
Revenues
Interest
Total Revenues
Other Sources
Transfers In from Hotel Tax Fund
Total Revenues
Expenditures
Other Services
Other Services
Total Departmental Expenditures
Surplus /(Excess Expenditure)
Projected Beginning Fund Balance
Projected Ending Fund Balance
Estimated
Proposed
Actual
Actual
Actual
Budget
Percent
FY 15 116
FY 16 117
FY 17 118
FY 18 119
Change
$
8
$
8
$
8
$
8
0%
8
8
8
8
0%
-
-
-
-
0%
8
8
8
8
0%
-
-
-
-
0%
-
-
-
5,000
100%
-
-
-
5,000
100%
(4,992)
- 62500%
$
8
$
8
$
8
$
$
9,071
$
9,079
$
9,087
$
9,095
0%
$
9,079
$
9,087
$
9,095
$
4,103
-55%
OWASSO ECONOMIC DEVELOPMENT AUTHORITY
RESOLUTION NO. 2018 -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 2018 -2019; 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 $9,095 and total appropriations in the
amount of $5,000 are hereby established.
THAT: The effective date of this Resolution shall be July 1, 2018.
APPROVED AND ADOPTED this day of , 2018 by the Trustees of the Owasso
Economic Development Authority.
Authority Chair
ATTEST:
Authority Secretary