Some money the RDA has spent recently has not been authorized by the Common Council.
As a result, finance director Jamin Friedl didn’t deliver the standard financial report at the beginning of the Jan. 9 RDA meeting. Instead, he requested the group come up with a projection for how much money it thinks it will need in 2019.
“There’s a lot of costs right now that aren’t budgeted: insurance, attorney fees, (etc.)” Friedl said. “The city is fronting all this money to you, and it hasn’t been authorized. It’s not transparent.”
The expected costs, such as for planning and trail work, had been budgeted in the city’s Capital Improvement Plan. But unexpected costs have not, and Friedl said they’re beginning to add up.
“That amount in TID 5 (the tax-increment financing district) is getting pretty big, and it really hasn’t been authorized at all,” Friedl said. As of Dec. 6, TID 5 documents showed $918,553.86 in expenditures and $893,768.16 in revenue.
Friedl requested the RDA come up with a number at its special January meeting to bring to the Finance Committee and Common Council for approval.