05-12-14 Meeting of the La Porte Development Corporation Board of Directors

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REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA REQUEST FOR LA PORTE DEVELOPMENT CORPORATION AGENDA ITEMITEM May 12, 2014May 12, 2014AppropriationAppropriation Agenda Date Requested:Agenda Date Requested: 4B Board 4B Board Scott D. Livingston Scott D. Livingston Source of Funds:Source of Funds: Requested By:Requested By: Account Number:Account Number: Economic Development/Tourism Economic Development/Tourism Department: Amount Budgeted:Amount Budgeted: Report:Resolution:Resolution:Ordinance:Ordinance: Amount Requested:Amount Requested: Exhibits: Budgeted Item:Budgeted Item:YESYESNONO 1. Proposed Budget, FY 20141. Proposed Budget, FY 2014--20152015 SUMMARY & RECOMMENDATIONSSUMMARY & RECOMMENDATIONS Discussion regarding the proposed 4B Budget for FY 2014 Discussion regarding the proposed 4B Budget for FY 2014 -- 2015. 2015. In order to show proposed budget expenditures for the In order to show proposed budget expenditures for the budget year, FY 2014 budget year, FY 2014--2015, staff used the budget 2015, staff used the budget nextnext worksheet from the worksheet from the budget year, FY 2013 budget year, FY 2013--2014, and showed proposed changes for the 2014, and showed proposed changes for the budget year, budget year, currentcurrentnextnext FY 2014-2015, in 2015, in ink in the right hand margin of the worksheet. ink in the right hand margin of the worksheet. BLUE BLUE Please note the following examples: Please note the following examples: $0means means changes from the current fiscal year to the next fiscal year. In other words, the proposed changes from the current fiscal year to the next fiscal year. In other words, the proposed nono amount to be spent in the next fiscal year is the amount to be spent in the next fiscal year is the as what was budgeted in the current fiscal year. If as what was budgeted in the current fiscal year. If same same we budgeted $2,000 for postage in the we budgeted $2,000 for postage in the fiscal year, then fiscal year, then $$00in BLUE ink in the right hand column in BLUE ink in the right hand column currentcurrent means that staff is proposing to budget $2,000 again for the means that staff is proposing to budget $2,000 again for the fiscal year. fiscal year. nextnextnextnext $1,500means that staff proposes an means that staff proposes an in this line item for the next budget year, FY 2014in this line item for the next budget year, FY 2014--2015. If we 2015. If we +increase increase budgeted $43,500 for Memberships & Subscriptions in the budgeted $43,500 for Memberships & Subscriptions in the fiscal year, then $+ $1,500 fiscal year, then $+ $1,500means that staff is means that staff is currentcurrent proposing to budget $45,000 for the proposing to budget $45,000 for the fiscal year. fiscal year. nextnext $4,500means that staff proposes a means that staff proposes a in this line item for the next budget year, FY 2014 in this line item for the next budget year, FY 2014--2015. If we 2015. If we -decreasedecrease budgeted $22,500 for Training/Seminars in the budgeted $22,500 for Training/Seminars in the fiscal year, then fiscal year, then --$$4,5004,500means that staff is proposing to means that staff is proposing to currentcurrent budget $18,000 for the budget $18,000 for the fiscal year. fiscal year. nextnext The cumulative difference of all the changes, both increases and decreases, is The cumulative difference of all the changes, both increases and decreases, is , , which is shown in the which is shown in the --$$24,00024,000 lower right hand corner of page #5 of the enclosed document.lower right hand corner of page #5 of the enclosed document. All other notes regarding how funds in each budget line item are anticipated to be spent in the next fiscal year are All other notes regarding how funds in each budget line item are anticipated to be spent in the next fiscal year are shown in the text for each line item. shown in the text for each line item. Staff must submit all initial budget information to the City Manager by Staff must submit all initial budget information to the City Manager by . Please give staff direction . Please give staff direction 16 May 201416 May 2014 regarding any changes to staffregarding any changes to staffs proposed 4B Budget for FY 2014s proposed 4B Budget for FY 2014--2015. 2015. Action Required by the La Porte Development Corporation:Action Required by the La Porte Development Corporation: No formal action or vote is required. No formal action or vote is required.