ST. LAWRENCE COUNTY LOCAL DEVELOPMENT CORPORATION Resolution No. MIC-14-10-08 October 23, 2014 APPROVING AND ADOPTING FY2015 BUDGET and AUTHORIZING THE CHIEF EXECUTIVE OFFICER TO MAKE LINE ITEM CHANGES WHEREAS, the St. Lawrence County Local Development Corporation (the “SLCLDC”) has caused to be prepared a Fiscal Year 2015 Budget, and WHEREAS, a tentative Budget, after acceptance by the SLCLDC on September 25, 2014, was made available for at least 20 days for public inspection and comment, and WHEREAS, SLCLDC has reviewed any and all comments received during the public comment period, NOW, THEREFORE, BE IT RESOLVED that the St. Lawrence County Local Development Corporation approves and adopts the attached Fiscal Year 2015 Budget, and BE IT FURTHER RESOLVED that the St. Lawrence County Local Development Corporation does hereby confer authority to its Chief Executive Officer to make line item changes within the various components of the budget, provided that: (i) No line item change exceeds $2,500; (ii) The change does not alter the "Total Expenses" of the relevant component Schedule, and (iii) the Chief Executive Officer must advise the SLCLDC Board of any such modifications at the SLCLDC meeting held immediately after such modification has been made, and BE IT FURTHER RESOLVED that the SLCLDC shall cause to have copies of the Fiscal Year 2015 Budget forwarded to the St. Lawrence County Clerk, County Treasurer, County Administrator, Legislative Chair, and NYSABO, and to do all other things as may be required by statute. Move: Second: VOTE Blevins Hall LaBaff McMahon Peck Staples Weekes Weekes LaBaff AYE NAY ABSTAIN ABSENT X X X X X X X I HEREBY CERTIFY that I have compared this copy of this Resolution with the original record in this office, and that the same is a correct transcript thereof and of the whole of said original record. /s/ Natalie A. Sweatland October 23, 2014 St. Lawrence County Local Development Corporation [FY2015 Adopted Budget] 2013 Actual 2014 Budget YTD 7/31/14 2015 Budget Income 2400 · Late Fees Received 2409B · Interest Income - Banking 2409L · Interest Income - Loans 2424 · Brasher Admin Income Total Income 1,275.00 12.71 10,768.62 0.00 12,056.33 1,000.00 15.00 7,200.00 1,000.00 9,215.00 495.00 8.76 4,193.61 0.00 4,697.37 1,000.00 10.00 7,562.00 1,000.00 9,572.00 Expenses 6460411 · Insurance Expense 6460418 · Underwriting/Credit Report Expense 6460420 · Office Supplies Expense 6460424 · Postage Expense 6460432 · Other Legal Expense 6460433 · Legal Expense - Retainer 6460434 · Accounting Expense 6460442 · Meeting Expense 6460445 · Other Travel Expense 6460452 · Brasher Admin Payment 6460502 · Outside Contract Expense 6460499 · Miscellaneous Expense 6460550 · Bad Debt Expense Total Expenses 615.54 0.00 18.94 101.87 1,536.50 600.00 2,925.00 56.40 0.00 0.00 7,500.00 0.00 6,500.00 19,854.25 700.00 0.00 100.00 100.00 3,000.00 500.00 3,200.00 200.00 500.00 1,000.00 7,500.00 100.00 0.00 16,900.00 0.00 0.00 0.00 6.49 20.00 250.00 3,035.00 0.00 0.00 0.00 7,500.00 0.00 0.00 10,811.49 500.00 500.00 25.00 100.00 2,500.00 500.00 3,200.00 150.00 0.00 1,000.00 7,500.00 100.00 0.00 16,075.00 Total Revenue Total Expenditures Net Income 12,056.33 19,854.25 (7,797.92) 9,215.00 16,900.00 (7,685.00) 4,697.37 10,811.49 (6,114.12) 9,572.00 16,075.00 (6,503.00)