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HomeMy WebLinkAbout02 01 10 City Council Work Session CITY OF PRIOR LAKE COUNCIL WORKSHOP 02.01.2010 PROPERTY TAX PROJECTIONS Projected II Totals 2011 2012 2013 2014 2015 2011-2015 Previous Year Tax Levy: General 7,020,503 7,249,626 7,675,021 8,115,929 8,385,272 7,020,503 Equipment Fund 260,000 270,000 280,000 290,000 300,000 260,000 Revolving Park Equip Fund Facilities Management Fund 135,000 Debt 2.798.683 3.025.557 3.287,281 3.551.968 3,537,074 2.798.683 10,079,186 Revenues: Changes in Non-Property Tax Re (17,198) (20,819) (15,306) (16,812) (20,337) (90,473) (90,473) Expenditures: Personnel 371,756 265,786 276,396 287,430 298,902 1,500,270 Allocation of Overhead Current Expenditures 81,831 126,619 130,417 134,330 143,360 616,557 Capital Outlay Capital Outlay - Technology 12,775 12,775 Transfers to Other Funds (Debt) 29,959 53,810 49,400 (135,604) 19,963 17,528 Contingency Contingency-Revolving Park Equ Fire Relief Assn Contribution Reductions in Expenditures Neec Existing CIP (60,589) (52,438) (58,638) (109,837) (158,037) (439,539) NewCIP 252,000 272,000 274,000 240,000 240,000 1,278,000 EDA Lease Revenue 15,000 15,000 15,000 15,000 15,000 75,000 Market Referendum 20,463 27,162 34.325 1160.057) 41.363 (;36.744) 876,717 Other Tax Supported Funds: Equipment Fund Levy 10,000 10,000 10,000 10,000 10,000 50,000 Revolving Park Equip Fund Levy r.~~~ili.tiT~.~~g"~~.T~~tf~.~.~.~.evy 2.70,000 Fund Balance: Use of General Fund Reserves (250,000) (250,000) Tax Levies: General 7,249,626 7 ,675,021 8,115,929 8,385,272 8,827,160 8,827,160 Equipment Revolving Fund 270,000 280,000 290,000 300,000 310,000 310,000 Revolving Park Equip Fund Facilities Management Fund 135,000 270,000 270,000 Debt Service 3.025.557 3.287.281 3,551,968 3.537.074 3.675.400 3.675,400 10,545,183 11,242,302 11,957,897 12,357,346 13,082,560 13,082,560 c:h,,~ge fro!!, PreviclUs Year Breakdown of Change in Levies: General 229,123 425,395 440,907 269,343 441 ,888 1,806,657 Equipment Revolving Fund 10,000 10,000 10,000 10,000 10,000 50,000 Revolving Park Equip Fund Facilities Management Fund 135,000 135,000 270,000 Debt 226.874 261,724 264.687 (14,894) 138.326 876,717 Total ChanQe 465.997 697,119 715.594 399.449 725.214 3,003.374 General 3.26% 5.87% 5.74% 3.32% 5.27% 25.73% Equipment Revolving Fund 3.85% 3.70% 3.57% 3.45% 3.33% 19.23% Revolving Park Equip Fund 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Facilities Management Fund 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Debt 8.11% 8.65% 8.05% -0.42% 3.91% 31.33% Total ChanQe 4.62% 6.61% 6.37% 3.34% 5.87% 29.80% GENERAL FUND RESERVES: Beginning Balance 6,053,435 5,872,435 5,941,435 6,010,435 6,079,435 Ending Balance 5,872,435 5,941,435 6,010,435 6,079,435 6,148,435 Reserve Percentage 45.0% 43.9% 43.5% 42.6% E:\2011 Property Tax Projections - 2010.02.01 : Summary Page 1 of1 02101/2010 CITY OF PRIOR LAKE COUNCIL WORKSHOP 02.01.2010 GENERAL FUND REVENUES 2009 2007 2008 Adopted Proiected Actual Actual BudQet 2010 2011 I 2012 I 2013 I 2014 I 2015 I Totals Property Tax Revenues 7,574,935 7,925,658 6,778,828 6,792,957 6,792,957 6,792,957 6,792,957 6,792,957 6,792,957 350,722 (1,146,830) 14,129 Property Taxes (MV Debt) - - 1,039,614 1,084,899 1,084,899 1,084,899 1,084,899 1,084,899 1,084,899 1,039,614 45,285 Property Taxes (TC Debt) - - 586,120 605,000 605;000 605,000 605,000 605,000 605,000 586,120 18,880 Licenses & Permits 158,588 134,759 124,180 103,225 103,225 103,225 103,225 103,225 103,225 (23,829) (10,579) (20,955) Building Permits 359,073 321,196 330,000 166,750 166;750 166,750 166,750 166,750 166,750 (37,877) 8,804 (163,250) Intergovernmental Revenue 646,403 584,093 660,663 599,602 596;602 596,602 596,602 596,602 596,602 (62,310) 76,570 (61,061) (3,000) (3,000) Township Fire & Rescue 233,952 295,151 322,016 348,065 348;065 348,065 348,065 348,065 348,065 61,199 26,865 SMSC Contribution 360,000 360,000 360,000 380,000 380;000 380,000 380,000 380,000 380,000 20,000 - - - Charges for Services 1,353,401 1,329,259 1,311,803 1,298,881 1,306;729 1,314,729 1,316,729 1,319,729 1 ,325,729 (24,143) (17,456) (12,922) 7,8~8 8,000 2,000 3,000 6,000 26,848 Plan Check Fees 220,353 195,916 220,750 83,250 83;250 83,250 83,250 83,250 83,250 (24,437) 24,834 (137,500) Fines & Forfeitures 190,650 192,428 222,000 182,000 . 182;000 182,000 182,000 182,000 182,000 1,778 29,572 (40,000) Miscellaneous Revenues 190,845 157,036 70,000 55,000 55;()()() 55,000 55,000 55,000 55,000 (33,809) (87,036) (15,000) . - Investment Interest 200,816 203,166 120,000 90,000 90;000 90,000 90,000 90,000 90,000 2,351 (83, 166) (30,000) Other Financing Sources 9,941 22,732 6,000 5,917 5;917 5,917 5,917 5,917 5,917 12,791 (16,732) (83) - Transfer from Water & Sewer F 250,000 300,000 325,000 325,000 337,350 350,169 363,476 377,288 391,625 50,000 25,000 - 12,350 12,819 13,306 13,812 14,337 66,625 11,748,956 12,021,393 12,476,974 12,120,546 12,137;744 12,158,563 12,173,870 12,190,682 12,211,019 - - Change ($) 272,436 455,581 (356,428) 17'198 20,819 15,306 16,812 20,337 90,473 Change (%) 3.79% -2.86% 0;14% 0.17% '0.13% 0.14% 0.17% E:\2011 Property Tax Projections - 2010.02.01 : Revenues 02101/2010 CITY OF PRIOR LAKE COUNCIL WORKSHOP 02.01.2010 GENERAL FUND REVENUE DETAILS 2010 2007 2008 2009 Adopted Proiected Actual Actual Budget Budget 2011 I 2012 I 2013 I 2014 I 2015 Growth Property taxes 31010 Current taxes - General Levy 6,626,542 7,065,396 6,284,803 6,263,094 ' '6,263;094< 6,263,094 6,263,094 6,263,094 6,263,094 Keep constant Current taxes - Debt (TC) 586,120 605,000 605,0()0 605,000 605,000 605,000 605,000 Keep constant Current taxes - Debt (MV) 1,039,614 1,084,899 1.084,899 1,084,899 1,084,899 1,084,899 1,084,899 Keep constant 31012 Market value credit aid 234,510 113,213 (226,000) (227,546) (227,546) (227,546) (227,546) (227,546) (227,546) 0.00% 31020 Delinquent taxes 82,607 120,587 - - - - - - - 0.00% 31040 Fiscal disparities 631,277 626,462 720,025 757,409 757,409 757,409 757,409 757,409 757,409 0.00% 7.574.935 7,925,658 8,404,562 8.482,856 8,482,856 8,482,856 8,482,856 8,482,856 8,482,856 Licenses & permits 32100 Business licenses 2,600 1,700 800 1,300 1,300 1,300 1,300 1,300 0.00% 32110 Liquor licenses 48,684 48,705 57,680 57,000 57,000 57,000 57,000 57,000 0.00% 32160 Refuse haulers 1,800 4,200 4,200 3,875 3,875 3,875 3,875 3,875 0.00% 32161 Plumbing registrations 1,625 1,250 1,250 875 875 875 875 875 0.00% 32170 Outdoor concert permits 1,250 1,450 1,250 1,100 1,100 1,100 1,100 1,100 0.00% 32180 Cigarette licenses 4,000 3,250 3,250 3,250 3,250 3,250 3,250 3,250 0.00% 32210 Building permits 359,073 321,196 330,000 166,750 166,750 166,750 166,750 166,750 0.00% 32211 Retainage forfeiture - 3,500 - - - - - - 0.00% 32215 Mechanical permits 51,478 37,680 24,850 14,900 14,900 14,900 14,900 14,900 0.00% 32230 Plumbing permits 36,674 22,021 19,900 12,425 12,425 12,425 12,425 12,425 0.00% 32231 Sewer/water inspection 5,528 5,688 5,000 2,500 2,500 2,500 2,500 2,500 0.00% 32240 Animal licenses 2,750 3,015 3,750 3,750 3,750 3,750 3,750 3,750 0.00% 32260 Burning permits 2,200 2,300 2,250 2.250 2.250 2,250 2,250 2,250 0.00% 517,660 455,954 454,180 269.975 269,975 269,975 269,975 269,975 269,975 Intergovernmental revenue 33401 Local government aid 11,905 11,905 11,905 11,905 11;905 11,905 11,905 11,905 11,905 0.00% 33416 State aid - police training 8,844 9,212 8,855 8,855 8,855 8,855 8,855 8,855 8,855 0.00% 33418 State road & bridge aid 219,926 212,955 238,000 230,000 230,000 230,000 230,000 230,000 230,000 0.00% 33420 State fire aid - ins premium 162,759 140,284 166,000 123,000 123,000 123,000 123,000 123,000 123,000 0.00% 33421 State pOlice aid - ins premium 168,776 145,645 172,500 155,000 155,000 155,000 155,000 155,000 155,000 0.00% 33422 State aids & grants 1,850 810 - - - - - - - 0.00% 33610 County/city aids & grants 21,014 10,454 10,455 13,800 13;800 13,800 13,800 13,800 13,800 0.00% 33620 Township fire & rescue aid 233,952 295,151 322,016 348,065 348,065 '. 348,065 348,065 348,065 348,065 0.00% 33621 Liaison aid 51,329 52,828 52,948 54,042 54,042 54,042 54,042 54,042 54,042 0.00% 33631 Payment in lieu of taxes 360,000 360,000 360,000 380,000 380;000 380,000 380,000 380,000 380,000 0.00% 33700 Miscellaneous Grants - - - 3.000 1,240,355 1,239,244 1,342,679 1,327,667 1 ;324,667 1,324,667 1,324,667 1,324,667 1,324,667 E:\2011 Property Tax Projections - 2010.02.01: Rev Detail 02101/2010 Page 1 of2 CITY OF PRIOR LAKE COUNCIL WORKSHOP 02.01.2010 GENERAL FUND REVENUE DETAILS 2010 2007 2008 2009 Adopted Projected Actual Actual BudQet BudQet 2011 I 2012 I 2013 I 2014 I 2015 Growth Charges for services 34103 Zoning & subdivision fees 15,984 12,419 13,075 7,810 7,810 7,810 7,810 7,810 7,810 0.00% 34104 Plan check fees 220,353 195,916 220,750 83,250 83;250 83,250 83,250 83,250 83,250 0.00% 34105 Sale of maps/publications 2,732 3,310 500 2,500 2,500 2,500 2,500 2,500 2,500 0.00% 34107 Assessment searches 335 255 400 400 400 400 400 400 400 0,00% 34109 Project admin/eng fees 365,685 337,361 314,900 348,553 348,553 348,553 348,553 348,553 348,553 0.00% 34203 Accident/warrant reports 296 108 300 300 300 300 300 300 300 0.00% 34303 Franchise fees 522,803 536,896 536,944 537,000 537,000 537,000 537,000 537,000 537,000 0.00% 34304 PEG access fees 34,739 35,960 35,256 36,000 36;000 36,000 36,000 36,000 36,000 0.00% 34731 Softball fees 28,103 28,568 28,000 28,000 28,000 28,000 28,000 28,000 28,000 0.00% 34735 Recreation program fees 59,143 53,910 66,000 56,000 56,000 56,000 56,000 56,000 56,000 0,00% 34740 Beach concessions 13,074 15,448 13,000 13,000 13;000 13,000 13,000 13,000 13,000 0.00% 34760 Facility rental 257,524 70,014 86,526 68,166 68,166 ". 68,166 68,166 68,166 68,166 0,00% 34761 Studio/pavilion rental 17,894 13,639 18,000 15,000 15,Obb 15,000 15,000 15,000 15,000 0.00% 34762 Park shelter rental 7,329 9,094 7,000 7,000 7,000 7,000 7,000 7,000 7,000 0,00% 34765 Tower leases - 175,927 150,152 150,152 158,000 166,000 168,000 171,000 177,000 Schedule 34780 Park admission fees 27,760 29,425 28,000 29,000 29,000 29,000 29,000 29,000 29,000 0.00% 34782 Sign lease fees - 6,925 13.750 - - - - - 0.00% 1.573,754 1,525,174 1,532,553 1.382,131 1.389;979' 1,397,979 1,399,979 1,402,979 1.408,979 Fines & forfeitures 35101 County court fines 133,537 124,209 150,000 115,000 115,000 115,000 115,000 115,000 0.00% 35104 Prosecution restitution 57,113 68,219 72,000 67,000 67,000 67,000 67,000 67,000 0.00% 190,650 192.428 222.000 182,000 182.000 182.000 182,000 182,000 182,000 Miscellaneous revenues 36210 Interest earnings 200,816 203,166 120,000 90,000 90,000 90,000 90,000 90,000 0.00% 36211 Developer agreements 37,194 39,171 25,000 - - - - - 0.00% 36212 Miscellaneous revenue 51,734 35,853 30,000 30,000 30,000 30,000 30,000 30,000 0.00% 36225 Unrealized Inv. Gain (Loss) 88,053 75,312 - - - - - 0.00% 36230 Contributions & donations 13,864 6,700 15,000 25,000 25,000 25,000 25,000 25,000 0.00% 391,661 360,202 190,000 145,000 145,000 145,000 145,000 145,000 145,000 Other financing sources 39102 Sate of property 9,941 22,732 6,000 5,917 5,917 5,917 5,917 5,917 5,917 0.00% 39203 Transfers from other funds 250,000 300,000 325,000 325,000 337,350 350,169 363,476 377,288 391,625 3.80% 39310 Bond Proceeds - - - - - - - - - 0.00% 259,941 322,732 331,000 330,917 343,267 356,086 369,393 383,205 397,542 Grand total 11,748,956 12,021,393 12,476,974 12,120,546 ~2,137j744 12,158,563 12,173,870 12,190,682 12,211,019 Change ($) 272,436 455,581 (356,428) 17,198 20,819 15,306 16,812 20,337 Change (%) 3.79% -2.86% 0.14% 0.17% 0.13% 0.14% 0.17% 02/01/2010 E:\2011 Property Tax Projections - 2010.02.01: Rev Detail Page 2 of 2 CITY OF PRIOR LAKE COUNCIL WORKSHOP 02.01.2010 GENERAL FUND EXPENDITURES 2009 2010 2007 2008 Adopted Adopted Proiected I Total Actual Actual Budqet Budqet 2011 I 2012 I 2013 I 2014 I 2015 Change Growth Personnel Costs Salaries/INages 4,831,288 4,947,512 5,126,988 4,996,804 5,179,312 5,376,126 5,580,419 5,792,475 6,012,589 3.80% 116,224 179,476 (130,184) 182,508 196,814 204,293 212,056 220,114 1,015,785 Furloughs-Wages/Benefits - (117,053) - - - - - 0.00% (117,053) 117,053 - 117,053 PERA 361,747 401,944 443,556 443,703 472,880 504,290 537,404 572,306 609,085 3.80% 40,197 41,612 147 29,177 31,410 33,114 34,903 36,779 165,382 Other Benefits 819,738 838,193 923,494 945,459 966,484 1,003,210 1,041,332 1,080,903 1,121,977 3.80% 18,455 85,301 21,965 21,025 36,726 38, 122 39,571 41,074 176,518 Fire Pension Contribution-Ins + City 182,759 160,284 186,000 143,000 143,000 143,000 143,000 143,000 143,000 0.00% (22,475) 25,716 (43,000) Fire Pension Contribution-Deficit - - - 78,000 78,000 78,000 78,000 78,000 78,000 0.00% 78,000 Compensated Leave Funding - - - - 21,993 22,829 23,696 24,597 25,531 3.80% 836 867 900 935 25,531 Gross Personnel 6,195,532 6,347,933 6,680,038 6,489,913 6;861;669 7,127,455 7,403,851 7,691,281 7,990,183 152,401 332,105 (190,125) 371,756 265,786 276,396 287,430 298,902 1,500,270 Current Expenditures 3,212,015 3,337,199 3,506,907 3,472,133 3,553;964 3,680,583 3,811,000 3,945,330 4,088,690 3.00% 125,184 169,708 (34,774) 81,831 126,619 130,417 134,330 143,360 616,557 Capital Outlay 721,258 173,429 305,895 274,925 274,925 274,925 274,925 274,925 274,925 0.00% (547,829) 132,466 (30,970) Capital Outlay - Technology 64,952 27,789 58,400 33,975 46,750 46,750 46,750 46,750 0.00% (37,163) 30,611 (24,425) 12,775 Transfers to Other Funds (Debt) 1,703,438 1,576,275 1,625,734 1,680,600 1,764,369 1,813,769 1,678,165 1,698,128 Schedule (127,163) 49,459 54,866 53,810 49,400 (135,604) 19,963 17,528 Contingency 107,498 90,000 300,000 69,000 69,000 69,000 69,000 69,000 Schedule (17,498) 210,000 (231,000) Transfers to Other Funds - - - - 100,000 100,000 100,000 100,000 100,000 100,000 Schedule Revolving Park Equip Fund (New) 100,000 Reduction in Expenditures Needed Grand total 12,004,693 11,552,625 12,476,974 12.120,546 12.616,867 13,063,082 13.519,295 13,805,451 14,267,676 2,147,130 - - Change ($) (452,068) 924,349 (356,428) 496,321 446,215 456,214 286, 156 462,225 2,147,130 Change (%) -3.77% 8.00% -2.86% 4.09% 3.54% 3.49% 2.12% 3.35% 17.71% E:\2011 Properly Tax Projections - 2010.02.01 : Expenditures Page 10f1 02/01/2010