HomeMy WebLinkAbout04 19 10 City Council Work SessionO~ PRI~l~'
~ 4646 Dakota Street S.E.
u x Prior Lake, MN 55372-1714
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CITY COUNCIL WORK SESSION REPORT
MEETING DATE: April 19, 2010
PREPARED BY: Frank Boyles, City Manager
AGENDA ITEM: 2011 Budget -Program and Service Priorities
DISCUSSION: The City's budget adoption calendar is more or less dictated by the State Truth in
Taxation law. In previous years the process has begun in June. This year,
because of the challenges created by our present economy and the staff's desire
to immerse the City Council in our various financial planning documents as soon
as possible, we started the process considerably earlier.
Tonight's work session is intended for the staff to listen to the Council on two
specific topics:
Program and Service Modifications:
Without getting into the administrative details, the staff would appreciate
any feedback the council cares to provide regarding our services, their
adequacy or need for improvement, refinement or deletion.
In doing so the council is aware of our efforts to redefine service levels,
sell services and shift the source of delivery through cooperative efforts
with others. As a refresher we will briefly review with the City Council the
cost saving measures we began in 2008 and continue on an ongoing
basis.
Levy Parameters:
The second topic for discussion is a series of policy issues regarding the
2011 budget and the impact those policies may have on the City's future
fiscal health.
The staff certainly understands and agrees with the philosophy that we
must be prudent in the use of the public dollar. But there is always a
balancing act between our day to day financial decisions and the long
term impact those decisions have.
Some of the policy questions for Council discussion include:
The City continues to grow modestly despite this economy. The
services we are asked to provide do not decline. (We will provide
building permit and valuation numbers at the meeting.) From a
staffing perspective we have worked to consolidate, shift from full-
time to part-time and utilize temporaries and volunteers. We will
continue our efforts in each of these areas but additional full time staff
will be a necessity. I believe sooner rather than later. Despite the
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fact that we try to use grants like COPS Fast there is ultimately a levy
impact. What is the Council's view on this matter?
2. We have collectively placed a high priority on long range financial
planning. We know from past experience that the infrastructural
investments we made in strong financial times were insufficient and in
bad financial times our commitments have been even less. I believe
one look at our street system is testimony to this fact. What do we do
in these financial times that on one hand continue our commitment to
our infrastructure while on the other hand is sensitive to citizens who
have been impacted?
3. We are very fortunate the City Council has made a conscious effort to
accumulate a significant reserve for us in hard times. These are most
certainly hard times and I believe most would agree that some use of
the reserve is appropriate. The question is how much should be
used? Equally important is the question of the level the reserve
should be kept at in the future.
4. The Council has historically targeted 45 percent as the appropriate
general fund reserve amount based upon the recommendations of the
State and City auditors. Jerilyn has prepared the attached financial
analysis which shows what levies may be necessary for future
budgets as well as the status of the reserve each year. This topic is
worthy of Council discussion.
There may be additional budget policy-related issues the Council desires to
discuss.
With the input from this meeting, staff can proceed to prepare department
budgets for 2011 for discussion at our next budget work session.
CITY OF PRIOR LAKE
PROPERTY TAX PROJECTIONS
COUNCIL WORKSHOP 04.05.2010
Pro'ected Totals
2011 2012 2013 2014 2015 2011-2015
Previous Year Tax Levy:
General 7,020,503 6,967,126 7,159,716 7,642,335 7,904,470 7,020,503
Equipment Fund 260,000 270,000 280,000 290,000 320.000 260,000
Revolving Park Equip Fund - - - - -
Facilities Management Fund - - - - 135,000 -
Debt 2,798,683 2,881,557 3,081,281 3,225,968 3,211,074 2,798,683
10,079,186 10,118,683 10,520,997 11,158,303 11,570,544 10,079,186
Revenues:
Changes in Non-Property Tax Reve (17,19$) (20,819) (15,306) (16,812) (20,337) (90,473)
{17,198) (20,819) (15,306) (16,812) (20,337) (90,473)
Expenditures:
Personnel 371,756 265,786 276,396 287,430 298,902 1,500,270
Allocation of Overhead - - - - - -
Current Expenditures (11,669) 143,814 133,128 127,122 165,936 558,331
Capital Outlay - - - - - -
Capital0utlay-Technology 12,775 - - - - 12,775
Transfers to Other Funds (Debt) 29,959 53,810 49,400 (135,604) 19,963 17.528
Contingency (39,000) - 39,000 - - -
Transfer-Rev Park Equip Fund {50,000) - - - - (50,000)
Fire Relief Assn Contribution - - - - - -
Reductions in Expenditures Needed - - - - - -
313,821 463,410 497,925 278,948 484,801 2,038,904
Debt;
Existing CIP (60,589) (52,438) (58,638) (109,837) (158,037) (439,539)
New CIP 108,000 210,000 154,000 240,000 240,000 952,000
EDA Lease Revenue 15,000 15,000 15,000 15,000 15,000 75,000
Market Referendum 20 463 27 162 34,325 (160,057) 41,363 (36,744)
82,874 199,724 144,687 (14,894) 138,326 550,717
Other Tax Supported Funds:
Equipment Fund Levy 10,000 16,000 10,000 30,000 30,000 90,000
Revolving Park Equip Fund Levy (b~ - - - - - -
Facilities Management Fund Levy (t - - - 135,000 135,000 270,000
Fund Balance:
Use of General Fund Reserves (350,000) (250,000) - - - (600,000)
Tax Levies:
General 6,967,126 7,159,716 7,642,335 7,904,470 8,368,934 8,368,934
Equipment Revolving Fund 270,000 280,000 290,000 320,000 350,000 350,000
Revolving Park Equip Fund - - - - - -
Faollities Management Fund - - - 135,000 270,000 270,000
Debt Service 2 881 557 3 081 281 3,225 868 3,211,074 3,349,400 3,349,400
10,118,683 10,520,997 11,158,303 11,570,544 12,338,334 12, 338,334
Change from Previous Year 39,497 402,314 637,305 412,242 767,790
Breakdown of Change in Levies:
General (53,377) 192,590 482,618 262,136 464,464 1,348,431
Equipment Revolving Fund 10,000 10,000 10,000 30,000 30,000 80,000
Revolving Park Equip Fund - - - - - -
Facilities Management Fund - - - 135,000 135,000 270,000
Debt 82 874 199 724 144,687 (14,894) 138,326 550,717
Total Change 39 497 402 314 637 305 412,242 767,790 2,259,148
General -0.76% 2.76% 6.74% 3.43% 5.88% 19.21°~
Equipment Revolving Fund 3.85% 3.70% 3.57% 10.34% 9.38% 34.62%
Revolving Park Equip Fund 0.00% 0.00°k 0.00% 0.00% 0.00°k 0.00%
Facilities Management Fund 0.00°!° 0.00% 0.00% 0.00% 0.00% 0.00°!
Debt 2.96% 6.93% 4.70% -0.46% 4.31% 19.68%
Total Change 0.39% 3.98% 6.06% 3.69% 6.64% 22.41%
GENERAL FUND RESERVES:
Beginning Balance 6,053,435 5,733,435 5,513,435 5,582,435 5,651,435
Ending Balance 5,733,435 5,513,435 5,582,435 5,651,435 5,720,435
Reserve Percentage 44.5% 41.2% 40.8°~ 39.9°~
2011- 2015 CAPITAL IMPROVEMENT PROGRAM
FINANCIAL SUMMARY
Debt Balances
As of 12/31/2009, the City of Prior Lake had $37,520,000 in debt. The following chart reflects the type of debt
that comprises the $37M:
Debt Type Amount Purpose
G.O. Special Assessment Bonds $ 7,265,000 Street Improvement Projects
G.O. Tax Increment 325,000 Tax Increment Project {EDA}
G.O. Bonds {MV} .9,170,000 Referendum Projects (Park & Fire Stations)
G.O. Bonds 1,165,000 Street Reconstruction Project
Revenue Bonds 9,465,000 City Hall & Police Station {EDA}
G.O. Revenue Bonds 9,100,000 Maintenance Facility & Water Treatment Facility
G.O. Capital Improvement Bonds 1,030,000 Scott County Cooperative Agreement
Total $ 37,520,000
The 2011-2015 Capital Improvement Program includes projects that are funded by bond proceeds. Bonds are
issued for the project costs that the City is funding through tax levies as well as the costs that are specially
assessed to property owners. The CIP anticipates $13,307,000 in bonding for projects in the Transportation Plan
for 2010-2015 and $1,500,000 fora 500,000 gallon water storage unit in 2013. The following chart reflects all
bonding requirements referenced in the CIP and Transportation Plan. The blue line represents the cumulative
effect of new debt issued. The red line represents the retirement of existing debt. The green line is the resulting
debt balance at the end of each year.
Projected Debt Balances
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Council Work Session -April 5, 2010 -Capital Improvement Plan/Financial Summary Page 1
Property Tax Levies
On February 1, 2010, a work session was held to discuss long-range financial planning. The information
provided at that time reflected the impacts of inflationary pressures, personnel contracts, and commitments
made in the previous Capital Improvement Plan (2010-2014) an future property tax levies. Subsequent work
sessions were held to receive council input on preparing certain components of the draft 2011-2015 CIP:
Transportation Plan, Water Plan and Sanitary Sewer Plan.
The result of the adjustments being recommended in each of the plans is shown in the Property Tax Projections
(next page). The primary adjustments include the following:
• Police vehicles are funded in the Revolving Equipment Fund instead of the General Fund
• Contribution from General Fund to Revolving Park Equipment Fund is reduced from $100,000 to $50,000
• General Fund Parks Department operating budget is adjusted to reflect maintenance needs versus the
incremental increase used historically
• Transportation Plan reflects input received on 02/16j10 regarding prioritization of improvement
projects
In addition, I have factored in two additional 2011 budget considerations to see what the bottom line impact
would be on the property tax levy:
• General Fund contingency line item is reduced from $69,000 to $30,000
• Utilize $350,000 in General Fund reserves for 2011 versus $250,000
Without any other adjustments to revenues or expenditures, a .39% increase in the property tax levy would be
needed to balance the 2011 General Fund budget. This is only a preliminary estimate. The purpose for
providine this information is to mark our aro~ress on reevaluatine service priorities and addressine fund balance
reserve levels. As was noted during the Feb 1 work session, there are many components that comprise the
annual budget and property tax levy. It is our goal to review and refine each of these components as we are
preparing the 2011 budget and planning for future years.
Council Work Session - Apri15, 2010 -Capital Improvement Plan jFinancial Summary Page 2
o~ PRI~~
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City Council Work Session
April 19, 2010
Agenda for Budget Work Session # 1
I. Program and Service Modifications
A. Delete current services
B. Modify (add or reduce existing services)
C. New services
II. Levy-related Policy Issues
A. Personnel Costs?
B. Debt/Infrastructure Investment Level?
C. How much reserve to use?
D. General fund reserve percentage?
III. Other - as determined by the Council
www. cityofpriorlake. com
Phone 952.447.9800 /Fax 952.447.4245
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CITY OF PRIOR LAKE
GENERAL FUND EXPENDITURES
Budget vs. Actual
2005 2006 2007 2008 2009 2010
Operating Departments:
Budgeted Expenditures 8,815,997 9,350,699 9,888,123 10,574,950 10,651,240 10,270,946
Actual Expenditures 8,406,240 9,147,893 10,193,757 9,886,350 9,808,292 10,270,946
Variance from Budget 409,757 202,806 (305,634) 688,600 c4) 842,948 (5) -
Contingency:
Budgeted Expenditures
Actual Expenditures
Variance from Budget
Transfers:
Budgeted Expenditures
Actual Expenditures
Variance from Budget
Totals
Total Budgeted Expenditures
Total Actual Expenditures
Variance from Budget
Revenues:
Budget
Actual
Variance
Net Change in Fund Balance
Audit Report
Variance
109,854 200,000 250,000 275,000 300,000 69,000
- 141,674 107,498 90,000 7,346 69,000
109,854 58,326 142,502 185,000 292,654 -
790,180 1,290,035 1,547,684 1.,576,481 1,625,734 1,780,600
1,573,648 1,790,562 1,703,438 1,576,275 1,724,978 1,780,600
(783,468) ~'~ (500,527) t2) (155,754) (3) 206 (99,244) -
9,716,031 10,840,734 11,685,807 12,426,431 12,576,974 12,120,546
9,979,888 11,080,129 12,004,693 11,552,625 11,540,616 12,120,546
(263,857) (239,395) (318,886) 873,806 1,036,358 -
9,716,031 10,840,734 11,685,807 12,426,431 12,576,974 12,120,546
9,906,429 12,059,159 11,748,959 12,021,394 12,087,937 12,120,546
190,398 1,218,425 63,152 (405,037) (489,037) -
(73,459) 979,030 (255,734) 468,769 547,321 -
(73,459) 979,030 (255,734) 468,769 547,321 -
~'~ Resolution 05-105 authorized transfer of $500k to Building Fund for City Hall/Police Station project.
Resolution 05-158 authorized transfer of $283k to Building Fund for City Hall/Police Station project.
l2) Resolution 06-64 authorized transfer of $500k to Building Fund for City Hall/Police Station project.
(3) Resolution 07-102 authorized transfer of $150k to Severance Compensation Fund for funding OPEB liability.
l4> Cut 4.5 FTEs and other expenditures due to anticipated reductions in development-related revenues.
l5> Eliminated overtime, delayed and/or cut expenditures due to anticipated reductions in development-related revenues.
O:IBUDGETIBUDGET HISTORYIBudget History 2005 - 2010 4/19/2010
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CITY OF PRIOR LAKE COUNCIL WORKSHOP 04.05.2010
PROPERTY TAX PROJECTIONS
Pro'ected Totals
2011 2012 2013 2014 2015 2011-2015
Previous Year Tax Levy:
General 7,020,503 6,967,126 7,159,716 7,642,335 7,904,470 7,020,503
Equipment Fund 260,000 270,000 250,000 290,000 320,000 260,000
Revolving Park Equip Fund - - - - - -
Facilities Management Fund - - - 135,000 -
Debt 2,798,683 2,881,557 3,081,281 3,225,968 3,211,074 2,798,683
10, 079,186 10,118,683 10,520,997 11,158, 303 11.57Q544 10,079,186
Revenues:
Changes in Non-Property Tax Reve (17,198) (20,819) (15,306) (16,812) (20,337) (90,473)
(17,198) (20,819) !1F 306) (15.8121 (20,337) (90,473)
Expenditures:
Personnel 371,756 265,786 276,396 287,430 298,902 1,500,270
Allocation of Overhead
Current Expenditures
Capital Outlay
Capital Outlay -Technology
Transfers to Other Funds (Debt)
Contingency
Transfer-Rev Park Equip Fund
Fire Relief Assn Contribution
Reductions in Expenditures Needed
Debt:
Existing CIP
New CIP
EDA Lease Revenue
Market Referendum
Other Tax Supported Funds:
Equipment Fund Levy
Revolving Park Equip Fund Levy (bi
Facilities Management Fund Levy (t - - - 135,000 135.On0 ?70.000
Fund Balance:
Use of General Fund Reserves (350,000) (250,000) - - - (600,000)
Tax Levies:
General 6,967,126 7,159,716 7,642,335 7,904,470 8,368,934 8,368,934
Equipment Revolving Fund 270,000 280,000 290,000 320,000 350,000 350,000
Revolving Park Equip Fund - - - - - _
Facilities Management Fund - - - 135,000 270,000 270,000
Debt Service 2,881,557 3,081,281 3,225,968 3,211,074 3,349,400 3,349,400
10,118,683 10,520,997 11,158,303 11,570,544 12,338,334 12,338,334
Change from Previous Year 39,497 402,3?" 637'^° 412.242 767.790
Breakdown of Change in Levies:
General (53,377) 192,590 482,618 262,136 464,464 1,348,431
Equipment Revolving Fund 10,000 10,000 10,000 30,000 30,000 90,000
Revolving Park Equip Fund - - - - - -
Facilities Management Fund - - - 135,000 135,000 270,000
Debt 82,874 199,724 144,687 (14 894) 138,326 550 717
Total Change 39,497 402 314 637,305 412 242 767 790 2 259 148
General -0.76% 2.76°/ 6.74% 3.43% 5.88% 19.21%
Equipment Revolving Fund 3.85% 3.70% 3.57% 10.34% 9.38% 34.62%
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°h
Debt 2.96% 6.93% 4.70% -0.46% 4.31% 19.68°k
Total Change 0.39% 3.98% 6.06% 3.69% 6.64% 22.41 °k
GENERAL FUND RESERVES:
Beginning Balance 6,053,435 5,733,435 5,513,435 5,582,435 5,651,435
Ending Balance 5,733,435 5,513,435 5,582,435 5,651,435 5,720,435
Reserve Percentage 44.F°~ 412% 40.8°! 8° 9%
(11,669) 143,814 133,128 127,122 165,936 558,331
12,775 - - - - 12,775
29,959 53,810 49,400 (135,604) 19,963 17,528
(39,000) - 39,000 - - -
(50,000) - - - - (50,OD0)
313,821 463,410 497,925 278,P48 484.801 2,038 R04
(60,589) (52,438) (58,638) (109,837) (158,037) (439,539)
108,000 210,000 154,000 240,000 240,000 952,000
15,000 15,000 15,000 15,000 15,000 75,000
20,463 27,162 34,325 (160,057) 41,363 (36,744)
82.874 199.724 144,687 (14.894) 138.326 550,717
10,000 10,000 10,000 30,000 30,000 90,000