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7.1 EDA Financial Report SCANDIA Staff Report Date of Meeting: January 9, 2023 To: Scandia Economic Development Authority From: Anne Hurlburt, Interim City Administrator Re: Financial Report Attached for your information are several items that will provide a picture of the Scandia EDA's finances: 1. Cash Balance Report 2. 2022 Budget Report, Revenues and Expenditures 3. 2022 Detailed Expenditure Report 4. 2023 Budget(Approved by City Council 12/31/22) Please let me know if these reports are useful and what regular reporting the Board would like to receive. 1 , CITY OF SCANDIA 01/03/23 4:15 PM Page 1 Cash Balances Current Period: December 2022 MTD MTD Current FUND Descr Account Debit Credit Balance Cash EDA G 225-10100 $0.00 $155.06 -$155.06 Total Cash $0.00 $155.06 -$155.06 EDA Cash EDA G 225-10101 $4,000.00 $0.00 $33,831.13 Total EDA Cash $4,000.00 $0.00 $33,831.13 Grand Total $4,000.00 $155.06 $33,676.07 CITY OF SCANDIA 01/03/23 2:33 PM *Budget YTD Rev-Exp© Page 1 Current Period:December 2022 2022 2022 December 2022 %of YTD Budget YTD Amt MTD Amt YTD Balance Budget EDA Revenues $8,200.00 $9,050.00 $4,000.00 -$850.00 110.37% Expenditures $10,175.00 $4,712.48 $155.06 $5,462.52 46.31% Gain/(Loss) ($1,975.00) $4,337.52 $3,844.94 ($6,312.52) -219.62% Revenue Active R 225-46500-31000 Washington Cty $8,000.00 $8,000.00 $4,000.00 $0.00 100.00% Active R 225-46500-33640 Other Grants $0.00 $0.00 $0.00 $0.00 0.00% Active R 225-46500-34750 Facilities Rental $0.00 $750.00 $0.00 ($750.00) 0.00% Active R 225-46500-36210 Interest Income $200.00 $0.00 $0.00 $200.00 0.00% Active R 225-46500-36230 Donations $0.00 $300.00 $0.00 ($300.00) 0.00% Active R 225-46500-39203 Transfer from 0 $0.00 $0.00 $0.00 $0.00 0.00% Total Revenue $8,200.00 $9,050.00 $4,000.00 ($850.00) 110.37% Expenditure Active E 225-46500-210 Operating Supplie $0.00 $176.06 $155.06 ($176.06) 0.00% Active E 225-46500-303 Engineering Fees $5,000.00 $0.00 $0.00 $5,000.00 0.00% Active E 225-46500-304 Legal Services $0.00 $0.00 $0.00 $0.00 0.00% Active E 225-46500-308 Other Professiona $125.00 $0.00 $0.00 $125.00 0.00% Active E 225-46500-340 Advertising $2,000.00 $75.00 $0.00 $1,925.00 3.75% Active E 225-46500-433 Dues and Subscri $2,650.00 $1,653.00 $0.00 $997.00 62.38% Active E 225-46500-440 Events $400.00 $2,808.42 $0.00 ($2,408.42) 702.11% Active E 225-46500-720 Operating Transfe $0.00 $0.00 $0.00 $0.00 0.00% Total Expenditure ($10,175.00) ($4,712.48) ($155.06) ($5,462.52) 46.31% Total EDA ($1,975.00) $4,337.52 $3,844.94 ($6,312.52) -219.62% Report Total ($1,975.00) $4,337.52 $3,844.94 ($6,312.52) -219.62% 3, EDA FUND 225 VENDIR DATE AMOUNT COMMENTS Expenditure 22546500-210 Operating Supplies 2022-11 Rapid Press 11/15/2022 $ 21.00 Holiday Shopping poster 2022-12 Credit Card 12/14/2022 $ 69.90 Songbooks for Vinterlights 2022-12 Credit Card 12/14/2022 $ 59.96 Napkins for Vinterlights 2022-12 Loftier 12/20/2022 $ 25.20 Holiday Shopping fliers 225-46500-340 2022-05 Spicy Meatball 5/17/2022 $ 75.00 Photo service for Ice Sculpture 225-46500-433 2022-03 MN Rural Broadband 3/1/2022 $ 1,000.00 2022 Membership 2022-03 2022 EDAM Membership $ 295.00 2022 Membership 2022-04 FL Area Chamber 4/26/2022 $ 358.00 2022 Membership E 225-46500-440 Events 2022-02 February RAPID PRESS 2/15/2022 $ 44.00 Tomte Treasures flyer 2022-03 March YOUR HOME CAFE 3/17/2022 $ 242.00 March EDA Business Breakfast 2022-06 June YOUR HOME CAFE 6/15/2022 $ 304.85 EDA Quarterly Business Breakfast 2022-07 July CARDMEMBER SERVICE 7/19/2022 $ 24.08 EDA event supplies 2022-10 October Rapid Press $ 167.00 Sister City banner Credit Card $ 79.19 Sister City event supplies Cindy Higgins $ 60.00 Reimburse Kransekake purchase for Sister City event Lynne Moratzka $ 78.85 Reimburse bakery purchase-Sister City event Lynne Moratzka $ 75.00 Sister C ity promotion wooden cut-outs Federated Co-op $ 27.96 Ice for Midco event Scandia Market $ 50.00 Ice cream bars for Midco Day Swensons $ 357.41 Cinnamon buns,bags Rapid Press $ 316.00 Cinnamon Bun Day labels Rapid Press $ 7.00 Sister City Charter printing 2022-11 November CARDMEMBER SERVICE 11/9/2022 $ 90.18 Best of Scandia event-wrapping paper&tags DEEP ROOTS CONCESSIC 11/22/2022 $ 495.00 Vendor meals for Holliday Shopping event YOUR HOME CAFE 11/22/2022 $ 389.90 EDA Business Breakfast-November 16 $ 4,712.48 11/ N CANJ O O O O O r- Co O O N C ' ' ' ' ' ' Cn O ' ' 0) V ' CO \ N 0 a rA CV t -0N 13 C Q) O C co d dCOco- via o ai m` N N CO O N CV E Z a) L O= a) c m • ai o co E c t 4-0 TsU 0 11 x 75 o -o Q Emc G) O CO a _ N N O ) - O N Q O O O = .y 2 _ N E u` O O N O CO COW a) C 'p o_ CA £ > ,- ,_ E col p N O w N a) us- cc) Eg n `o m av'i a) _o g co S = 0a. 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