Item 6.1 EDA - Commissioner CompensationRequest for
City Council Action
DEPARTMENT INFORMATION
ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE:
Administration City Administrator/Finance Director Flaherty July 8, 2024
PRESENTER(s) REVIEWED BY: ITEM #:
Administration 6.1 – EDA
STRATEGIC VISION
MEETS: THE CITY OF OTSEGO:
X Is a strong organization that is committed to leading the community through innovative communication.
Has proactively expanded infrastructure to responsibly provide core services.
Is committed to delivery of quality emergency service responsive to community needs and expectations in a
cost-effective manner.
Is a social community with diverse housing, service options, and employment opportunities.
Is a distinctive, connected community known for its beauty and natural surroundings.
AGENDA ITEM DETAILS
RECOMMENDATION:
City staff is recommending that the City Council approve EDA Commissioners Compensation for June 2024.
ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED?
No No
BACKGROUND/JUSTIFICATION:
The Economic Development Authority (EDA) conducted a meeting on June 24, 2024. A resolution adopted by the City
Council in September 1992 establishes compensation for EDA Commissioners in the amount of $25.00 per meeting.
City staff has developed two recommendations for the City Council to consider for funding this compensation:
General Fund – City Council Department
The Governing Resolution of the EDA, approved in 1992 outlines that the EDA Commissioners shall consist of the
members of the serving City Council, aligning the role of a City Council member with that of an EDA Commissioner. The
approved 2024 budget includes funding for a line item for compensation to City Council members.
General Fund – Economic Development Department
The approved 2024 budget includes funding for the purpose of economic development within the City, aligning with the
role of the EDA Commissioners. The budget for this department is in the amount of $15,310 but does not include a
specific line item for compensation. Year-to-date, there have been expenditures in the amount of $4,579, or 30% of the
budgeted amount.
The City Council should provide direction to City staff on how to account for the expenditures and can also provide
direction on how to incorporate compensation of EDA Commissioners within the draft budget for 2025.
SUPPORTING DOCUMENTS ATTACHED:
•June 2024 – EDA Commissioner Timesheets
POSSIBLE MOTION
PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES:
Motion to approve EDA Commissioners Compensation for June 2024, with funding provided by the ______________
department budget within the General Fund.
BUDGET INFORMATION
FUNDING: BUDGETED:
Pending City Council Direction.
City Council Time Sheet
_____________________
Date Meeting Description Location Comments Charge
Total $
Type Name:____________________________________________________
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Your name above, you are signing this document.
Date:_________________________________________________________
Abbreviations:
N/A= Not Applicable
NC= No Charge