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Home My WebLink About04 18 11 city council work session - long range financial planning"O� PRjO\ U M ��,�� 4646 Dakota Street SE Prior Lake, NIN 55372 CITY COUNCIL WORKSHOP REPORT MEETING DATE: APRIL 18, 2011 PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR PRESENTED BY: JERILYN ERICKSON TOPICS: 1) GENERAL FUND CASH FLOW 2007 -2010 2) LONG -RANGE FINANCIAL PLANNING DISCUSSION: Introduction The purpose of this workshop is threefold: 1) To review the General Fund Cashflow for years 2007 — 2010 (see attached report); and 2) To discuss long -range projections for General Fund revenues, expenditures, property tax levies and fund balance reserves; and 3) To the extent that the City Council is comfortable, provide direction regarding the usage of General Fund reserves and a maximum tax levy for 2012. History In 2010, we started off the 2011 budget process by reviewing at a high level what the impact might be on future property tax levies and General Fund reserves from commitments to long -term planning documents (i.e. Capital Improvement Program, Transportation Plan, Equipment Replacement Plan, Park Equipment Replacement Plan, etc.), debt obligations, inflationary pressures on expenditures and revenues and pending legislation. This initial discussion laid the foundation for future discussions which address specific components of the budget: long -term plans, service priorities, union contract negotiations, etc. Current Circumstances The first thing to note about the projections for revenues, expenditures, property tax levies and fund balance reserves is that the majority are based on ESTIMATES using assumptions about inflation. Also, the projections do not reflect the impact of future community growth (number of street miles, parks, population, etc.) which would necessitate additional resources. The Personnel Plan, which will be presented to the Council in July, will consider the impact of community growth on personnel resources. The assumptions used for the categories reflected in the Property Tax Projection Summary (attached) are as follows: Expenditures • Personnel o Added 2.5 positions (1 Police Supervisor, 1 Finance Accountant, and .5 Economic Development Specialist-- - 2011 budget already included .5 position for economic development); 0 2.5% increase in 2012 (1.7% COLA plus steps); 0 3.3% increase for 2013 -2016 (2.5% COLA plus steps); o PERA reflects wage increases and a possible .25% contribution increase each year; o Other Benefits /Mandates include Social Security, Medicare, workers compensation, unemployment, police education, compensated leave funding and health insurances; Health Insurance Task Force will be exploring opportunities to contain the cost of health insurance; o Fire Pension Deficit Contribution is assumed to be reduced from $100,000 ($80k plus $20k regular City contribution) to $32,000 ($12k plus $20k); • Current Expenditures 0 2012 is modified from the inflation calculation to recognize savings and anticipated increases (e.g. fuel); 0 2.5% inflation for 2013 -2016; • Capital Outlay o Includes additional capital expense as identified in the Park Equipment Replacement Plan; 0 2.5% inflation for technology capital; o Does not include the cost of new financial software; • Transfers to Other Funds o Debt transfers are based on current debt schedule; o Revolving Park Equipment Fund transfer is based on Park Equipment Replacement Plan; Does not include Facilities Management Plan except allocations already existing for this purpose in department budgets. Revenues Debt • All revenues projected to be flat except where we can predict future costs accurately; • Transfers from Other Funds (Water Fund & Sewer Fund) reflect a 2.5% inflationary factor for simplicity. A preliminary review of the cash balances in each of the Debt Service Funds as been completed. Tax levies have been adjusted to reflect the sufficiency of cash balances as identified. Other Tax Supported Funds • The Revolving Equipment Replacement Fund is supported by the property tax levy and transfers from the Water Fund and Sewer Fund. The property tax projections reflect the additional property tax funding as identified in the Equipment Replacement Plan. Use of Fund Balance Reserves • For purposes of this exercise, no use of reserves is reflected. C: \DOCUME- 1 \cgreen \LOCALS -1 \Temp \ELF20110415_141519 \Long Range Financiai Planning - Workshop Report - 2011.04.18.docx Conclusion The Property Tax Projection Summary reflects the "change" associated with each of the categories. The purpose of showing the "change" is that it identifies those particular areas that are driving the need to increase or decrease the property tax levy or to use other funding sources such as reserves. A Projected General Fund Revenue Summary is attached. Additional revenue detail is available to support the Revenue Summary if the Council would like to see this information. A Projected General Fund Expenditure Summary is attached. No additional expenditure detail is available. Staff will be reviewing departmental resource needs and preparing their budget requests in June and July. For reference, a copy of the Adopted 2012 Budget Schedule is also attached. To the extent that the City Council is comfortable, Staff is seeking direction regarding the usage of General Fund reserves and a maximum tax levy for 2012. C: \DOCUME- 1 \cgreen \LOCALS -1 \Temp \ELF20110415_141519 \Long Range Financiai Planning - Workshop Report - 2011.04.18.docX City of Prior Lake General Fund 2010 Revenue 2010 2010 2010 49.8% of 2010 Target 45.0% of 2010 Minimum FB Expense Net Ending Cash Balance $ 12,120,546 $ 12,120,546 January 245,263.41 737,764.81 (492,501.40) February 313,405.78 646,626.02 (333,220.24) March 138,735.11 726,741.71 (588,006.60) April 353,535.64 872,113.82 (518,578.18) May 216,274.26 674,254.90 (457,980.64) June 1 -15 64 771,428.56 (706,599.12) June 16 -30 3,401,833.94 429,780.67 2,972,053.27 July 1,894,624.27 778,132.11 1,116,492.16 August 91,282.39 992,050.68 (900,768.29) September 592,719.04 716,515.37 (123,796.33) October 586,249.65 998,988.64 (412,738.99) November 65,011.35 1,512,081.10 (1,447,069.75) December 4,675,863.27 1,744,537.74 2,931,325.53 (548,497.31) 12,639,627.55 11,601,016.13 1,038,611.42 Average 1,053 966,751.34 86,550.95 5 Mos Op 5,489,435.00 4, 833, 756.72 July 5,542,175.22 6,036,756.00 5,454,246 1,798,994.00 5,238,606.69 6,036,756.00 5,454,246 1,798,994.00 4,615,849.01 6,036,756.00 5,454,246 1,798,994.00 4,115,079.38 6,036,756.00 5,454,246 1,798,994.00 3,659,085.54 6,036,756.00 5,454,246 1,798,994.00 2,907,958.99 6,036,756.00 5,454,246 1,798,994.00 5,899,267.37 6,036,756.00 5,454,246 1,798,994.00 7,020,758.32 6,036,756.00 5,454,246 1,798,994.00 6,102,487.06 6,036,756.00 5,454,246 1,798,994.00 5,998,110.18 6,036,756.00 5,454,246 1,798,994.00 5,575,549.35 6,036,756.00 5,454,246 1,798,994.00 4,122,938.68 6,036,756.00 5,454,246 1,798,994.00 7,195,995.35 6,036,756.00 5,454,246 1,798,994.00 (548,497.31) 49.8% 5,489,435.00 5,614,620 12/31/09 FB / 2010 Budget 4,441,939.38 459,293.08 2010 General Fund Revenues /Expenses Revenue Expense 2009 General Fund Revenues /Expenses Revenue Expense 2008 General Fund Revenues /Expenses ■ Revenue ■ Expense 2007 General Fund Revenues /Expenses Revenue Expense COUNCIL WORKSHOP 04.18.2011 C: s IIIII off off . 111 111 2010 General Fund Ending Cash $5,000,000 $4,000,000 - $4,122,939 $3,000,000 $2,000,000 A $2,907,959 - $1,000,000 $1,798,994 _ J J air P��\ � h o \A Z' � oNO X X Ending Cash Balance Minimum FB -= +-Target 45.0% of 2010 2009 General Fund Ending Cash $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2,392,535 $2,346,427 �a � Ending Cash Balance (Target 45.0% of 2009 2008 General Fund Ending Cash QQ �J 40 O �o Oa Ending Cash Balance (Target 45.0% of 2008 2007 General Fund Ending Cash $2,435,475 $1,477,484 QQ �J 40 O �o Oa Ending Cash Balance (Target 45.0% of 2007 C: �DOCUME - 1 �cgreen�LOCALS - 1 �Temp�ELF20110415 140422 2011.04.18 Workshop -Prior Lake -General Fund Cash Balances 2007 -2010: General Fund w half mo 411512011 ,a �� ,�� a P ti P 'Je ��` `moo , e �� , ciQ O �o O� aA tih �'� �� mo t ma t roc �� , ep c Q � , V Q �� o ��9 2009 2009 2009 2009 44.0% of 2009 Target 45.0% of 2009 Revenue Expense Net Ending Cash Balance $ 12,476,934 $ 12,476,934 January 275,654.97 714,657.09 (439,002.12) 4,775,994.76 5,489,435.00 5,614,620 February 364,758.60 706,430.37 (341,671.77) 4,530,010.90 5,489,435.00 5,614,620 March 141,848.60 736,661.64 (594,813.04) 3,931,891.87 5,489,435.00 5,614,620 April 401,112.31 734,607.34 (333,495.03) 3,599,535.79 5,489,435.00 5,614,620 May 262,445.94 927,794.30 (665,348.36) 2,952,579.86 5,489,435.00 5,614,620 June 1 -15 134,328.75 682,826.06 (548,497.31) 2,392,535.02 5,489,435.00 5,614,620 June 16 -30 4,441,939.38 459,293.08 3,982,646.30 6,381,202.59 5,489,435.00 5,614,620 July 446 1,064,674.09 (617,754.67) 5,770,170.42 5,489,435.00 5,614,620 August 202,676.16 909,012.65 (706,336.49) 5,071,735.42 5,489,435.00 5,614,620 September 318,752.30 741,265.80 (422,513.50) 4,659,003.41 5,489,435.00 5,614,620 October 573,319.16 867,942.58 (294,623.42) 4,355,670.24 5,489,435.00 5,614,620 November 91,193.52 2,095,948.08 (2,004,754.56) 2,346,426.86 5,489,435.00 5,614,620 December 4,433,733.52 910,305.69 3,523,427.83 5,985,880.27 5,489,435.00 5,614,620 12,088,682.63 11,551,418.77 537,263.86 44.0% Average 1,007,390.22 962,618.23 44,771.99 12/31/08 FB / 2009 Budget 5 Mos Op 4,813,091.15 2008 2008 2008 2008 40.4% of 2008 Target 45.0% of 2008 Revenue Expense Net Cash Balance $ 12,426,431 $ 12,426,431 January 366,288.30 741,613.37 (375,325.07) 4,540,835.51 5,020,666.00 5,591,894 February 148,900.34 754,392.37 (605,492.03) 3,908,952.14 5,020,666.00 5,591,894 March 127,239.29 654,723.88 (527,484.59) 3,396,411.59 5,020,666.00 5,591,894 April 320,346.02 897,781.08 (577,435.06) 2,803,375.23 5,020,666.00 5,591,894 May 113,438.21 1,253,675.04 (1,140,236.83) 1,668,573.05 5,020,666.00 5,591,894 June 4,291,814.68 796,589.81 3,495,224.87 5,175,843.15 5,020,666.00 5,591,894 July 488 1,057,270.42 (568,691.98) 4,614,672.84 5,020,666.00 5,591,894 August 237,925.49 954,223.82 (716,298.33) 3,915,078.15 5,020,666.00 5,591,894 September 150,311.97 866,308.50 (715,996.53) 3,184,378.04 5,020,666.00 5,591,894 October 786,775.18 974,901.56 (188,126.38) 3,054,557.87 5,020,666.00 5,591,894 November 83,655.35 1,311,580.12 (1,227,924.77) 1,748,611.29 5,020,666.00 5,591,894 December 4,906,119.37 1,289,562.33 3,616,557.04 5,071,672.81 5,020,666.00 5,591,894 12,021,392.64 11,552,622.30 468,770.34 40.4% Average 1,001,782.72 962,718.53 39,064.19 12/31/07 FB / 2008 Budget 5 Mos Op 4,813,592.63 2007 2007 2007 2007 45.2% of 2007 Target 45.0% of 2007 Revenue Expense Net Cash Balance $ 11,685,807 $ 11,685,807 January 247,016.49 577,697.06 (330,680.57) 5,123,822.18 5,276,400.00 5,258,613 February 313,774.89 654,394.90 (340,620.01) 4,733,549.50 5,276,400.00 5,258,613 March 171,163.78 677,559.20 (506,395.42) 4,072,089.28 5,276,400.00 5,258,613 April 342,807.43 807,036.25 (464,228.82) 3,620,645.84 5,276,400.00 5,258,613 May 305,851.28 1,501,184.27 (1,195,332.99) 2,435,475.30 5,276,400.00 5,258,613 June 3,881,194.12 998,970.87 2,882,223.25 5,297,994.06 5,276,400.00 5,258,613 July 491 1,032,401.67 (541,377.09) 4,746,367.13 5,276,400.00 5,258,613 August 296,769.37 785,262.54 (488,493.17) 4,295,084.56 5,276,400.00 5,258,613 September 413,957.59 857,742.51 (443,784.92) 3,858,080.63 5,276,400.00 5,258,613 October 401,228.67 1,129,102.88 (727,874.21) 3,078,490.49 5,276,400.00 5,258,613 November 102,840.35 1,702,815.74 (1,599,975.39) 1,477,483.88 5,276,400.00 5,258,613 December 4,781,327.81 1,280,275.21 3,501,052.60 5,370,302.97 5,276,400.00 5,258,613 11,748,956.36 12,004,443.10 (255,486.74) 45.2% Average 979 1,000,370.26 (21,290.56) 12/31/06 FB / 2007 Budget 5 Mos Op 5,001,851.29 2010 General Fund Revenues /Expenses Revenue Expense 2009 General Fund Revenues /Expenses Revenue Expense 2008 General Fund Revenues /Expenses ■ Revenue ■ Expense 2007 General Fund Revenues /Expenses Revenue Expense COUNCIL WORKSHOP 04.18.2011 C: s IIIII off off . 111 111 2010 General Fund Ending Cash $5,000,000 $4,000,000 - $4,122,939 $3,000,000 $2,000,000 A $2,907,959 - $1,000,000 $1,798,994 _ J J air P��\ � h o \A Z' � oNO X X Ending Cash Balance Minimum FB -= +-Target 45.0% of 2010 2009 General Fund Ending Cash $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $2,392,535 $2,346,427 �a � Ending Cash Balance (Target 45.0% of 2009 2008 General Fund Ending Cash QQ �J 40 O �o Oa Ending Cash Balance (Target 45.0% of 2008 2007 General Fund Ending Cash $2,435,475 $1,477,484 QQ �J 40 O �o Oa Ending Cash Balance (Target 45.0% of 2007 C: �DOCUME - 1 �cgreen�LOCALS - 1 �Temp�ELF20110415 140422 2011.04.18 Workshop -Prior Lake -General Fund Cash Balances 2007 -2010: General Fund w half mo 411512011 ,a �� ,�� a P ti P 'Je ��` `moo , e �� , ciQ O �o O� aA tih �'� �� mo t ma t roc �� , ep c Q � , V Q �� o ��9 CITY OF PRIOR LAKE PROPERTY TAX PROJECTION SUMMARY COUNCIL WORKSHOP 04.18.2011 Previous Year Tax Levy: General Equipment Fund Revolving Park Equip Fund Facilities Management Fund Debt Revenues: MV Debt Service Levies TC Debt Service Levies Changes in Non - Property Tax Revenues 7 6 Projected 2011 2012 2013 2014 2015 2016 Previous Year Tax Levy: General Equipment Fund Revolving Park Equip Fund Facilities Management Fund Debt Revenues: MV Debt Service Levies TC Debt Service Levies Changes in Non - Property Tax Revenues 7 6 7 7 7 8 260 270 280 290 320 350 2 2 2 3 3 3 Totals 2012 - 2016 6 270 2 10 10,114,124 10 11 11 12 10,114,124 20 - - - - - - 15, 000 - - - - - - (37,247) (29,628) (11,342) (12,584) (16,799) 20 (49,372) Debt: (1,784) (29,628) (11,342) (12,584) (16,799) 20 (49,372) Expenditures: 48 (256,855) 22 101 (138,035) (216,260) (487,650) Personnel 414 372 247 255 264 273 1 Allocation of Overhead - - - - - - - Current Expenditures (180,405) (91,728) 80 82 84 86 240 Capital Outlay (83,050) 39 25 15 50 10 139 Capital Outlay - Technology 445 861 882 904 927 950 4 Transfers to Other Funds (Debt) 32 50 49 (135,604) 19 89 74 Contingency (69,000) - - - - - - Transfer -Rev Park Equip Fund (50,000) - - - - - - Fire Relief Assn Contribution 2 (68,105) (12,000) - - - (80,105) Reductions in Expenditures Needed - - - - - - - 67 303 390 217 419 460 1 Debt: Existing CIP 48 (256,855) 22 101 (138,035) (216,260) (487,650) New CIP - 210 154 240 240 181 1 E DA Lease Revenue 15 14 10 25 8 12 71 Market Referendum 20 23 38 (160,330) 41 47 (9,332) Change in Debt Levy 83 (8,947) 225 205 151 24 599 Other Tax Supported Funds: Equipment Fund Levy 10 10 10 30 30 30 110 Rev Park Equip Fund Levy (beg in 2017) - - - - - - - Facilities Management Fund Levy ( ? ?) - - - - - - - Fund Balance: Use of General Fund Reserves - - - - - - - Tax Levies: General 6 7 7 7 8 8 8 Equipment Revolving Fund 270 280 290 320 350 380 380 Revolving Park Equip Fund - - - - - - - Facilities Management Fund - - - - - - - Debt Service 2 2 3 3 3 3 3 10,114,124 10, 388, 681 11, 003,409 11,444, 614 12, 029, 267 12, 565, 729 12, 565, 729 Change from Previous Year 34,938 274,557 614,728 441,205 584,654 536,462 Breakdown of Change in Levies: General (58,936) 273 378 205 402 481 1 Equipment Revolving Fund 10 10 10 30 30 30 110 Revolving Park Equip Fund - - - - - - - Facilities Management Fund - - - - - - - Debt 83 (8,947) 225 205 151 24 599 Total Change 34 274 614 441 584 536 2 General -0.84% 3.93% 5.24% 2.70% 5.15% 5.86% 25.03% Equipment Revolving Fund 3.85% 3.70% 3.57% 10.34% 9.38% 8.57% 40.74% Revolving Park Equip Fund 0.00% 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% 0.00% Debt 3.00% -0.31% 7.86% 6.64% 4.60% 0.71% 20.79% Total Change 0.35% 2.71% 5.92% 4.01% 5.11% 4.46% 24.24% GENERAL FUND RESERVES: Beginning Balance 7 7 7 7 7 7 Ending Balance 7 7 7 7 7 7 Reserve Percentage 56.6% 54.9% 54.0% 52.3% 50.6% CITY OF PRIOR LAKE PROJECTED GENERAL FUND REVENUE SUMMARY Property Tax Revenues Property Taxes (MV Debt) Property Taxes (TC Debt) Licenses & Permits Building Permits Intergovernmental Revenue Township Fire & Rescue SMSC Contribution Charges for Services Plan Check Fees Fines & Forfeitures Miscellaneous Revenues Investment Interest Other Financing Sources Transfer from Water & Sewer F Change ($) Change ( %) COUNCIL WORKSHOP 04.18.2011 2007 Actual 2008 Actual 2009 Actual 2010 Actual 2010 Adopted Budget 2011 Adopted Budget Projected 2012 2013 2014 2015 2016 7 7 8 8 6792 957 6, 703, 043 6 6 6 6 6703 043 350 324,230 368, 286 14,129 (89, 914) - - - - - - - - - 1 1,105, 362 1,105, 362 1,105, 362 1,105, 362 1,105, 362 1,105, 362 45 20 - - - - - - - - - 605 620 620 620 620 620 620 18 15, 000 - - - - - 158, 588 134 140 142 103 105 105 105 105 105 105 (23, 829) 6 11677 (20, 955) 2, 590 - - - - - 359, 073 321 222 267 166 187 187 187 187 187 187 (37, 877) (98, 751) 45 (163, 250) 20,250 - - - - - 646,403 584 606 628 599 568 576 576 576 576 576 (62, 310) 22, 768 21 (61, 061) (30, 916) 8 - - - - 233, 952 295 311 348 348 361 361 361 361 361 361 61 16, 056 37,124 26 13 - - - - - 360, 000 360 360 380 380 380 380 380 380 380 380 - - 20,000 20,000 - - - - - - 1, 353 1 1 1 1, 298, 881 1 1 1 1 382, 677 1 1, 360, 677 (24,143) (50,169) 93 (12, 922) 85,201 (8,372) 2, 967 4, 000 8, 000 (30, 000) 220 195 143 159 83 96 96 96 96 96 96 (24, 437) (52,193) 15 (137, 500) 13,100 - - - - - 190, 650 192 161 126 182 130 150 150 150 150 150 1 (31, 364) (34, 858) (40, 000) (52, 000) 20 - - - - 190, 845 157 (41,433) 78 55 55 55 55 55 55 55 (33, 809) (198, 469) 119,620 (15, 000) - - - - - - 200, 816 203 222 193,173 90 90 100 100 100 100 100 2 19 (29, 715) (30, 000) - 10 - - - - 9,941 22 106 - 5 - - - - - - 12, 791 84, 264 (106,997) (83) (5,917) - - - - - 250, 000 300 325 325 325 335 335 343 351 360 369 50 25, 000 - - 10, 000 - 8, 375 8, 584 8, 799 9, 019 11748 12 12,088 12 12 12,122 12 12 12 12,192 12 272,436 67,289 550,947 (356,428) 1,784 29,628 11,342 12,584 16,799 (20,981) -2.86% 0.01% 0.24% 0.09% 0.10% 0.14% -0.17% F - Totals 8, 000 (23, 405) 20, 000 10,000 34, 777 49 C: IDOCUME- 1lcgreenlLOCALS- 11TempIELF20110415 14105012012 Property Tax Projections - 2011.04.18 Workshop (2) : Revenues 411512011 CITY OF PRIOR LAKE PROJECTED GENERAL FUND EXPENDITURE SUMMARY jerickson: COUNCIL WORKSHOP 04.18.2011 jerickson: 2.5% for 2012 Personnel Costs 2007 Actual 2008 Actual 2009 Actual 2010 Actual 2 010 Adopted Budget 2011 Adopted Budget .._..,...... �.., ,....,........, Projected Total Change Growth 2012 2013 2014 1 2015 2016 Personnel Costs Salaries /Wages 4 4 5 4 4 5 5 5 5 6 6 3.30% 116,224 104,011 (131,351) 193,374 309,129 181,477 187,466 193,652 200,043 1,071, 768 Furloughs -Wages /Benefits - - - - (117,053) - - - - - - 0.00% - - - 117,053 - - - - - - P E RA 361 401, 944 437 443781 443 473 502 533 565 599 635 3.30% 40,197 35 6,173 29 29 30 32 33 35 161 Other Benefits /Mandates 819 838 810 843 945 1 1 1 1 1 1 3.30% 184455 (28, 078) 33, 666 74, 546 33, 660 34, 771 35, 918 37,104 38, 328 179, 781 Fire Pension Contribution -Ins + City 182 160 142 147 143 143 143 143 143 143 143 0.00% (22, 475) (17, 331) 44529 - - - - - - - Fire Pension Contribution - Deficit - - - 82 78 80 12 - - - - 0.00% - - 82,372 2,105 (68,105) (12,000) - - - (80,105) Gross Personnel 6 6 6 6 6 6 7 7 7 7 8 152, 401 94 (4,611) 52 416 304,056 235, 043 255, 664 264, 585 273, 816 1, 333,164 Current Expenditures 3 3 3 3 3 3 3,200,000 3 3 3 3 2.50% 125 (320,187) (273, 843) (180, 405) (91, 728) 80, 000 82, 000 84, 050 86 240 Capital Outlay 721 173 218 270 274 191 231 256 271 321 331 0.00% (547, 829) (16, 560) 96, 613 (83, 050) 39 25 15 50 10 139 Capital Outlay - Technology 64 27 38 41 33 34 35,281 36 37 37 38,943 2.50% (37,163) 38 13 7 948 445 861 882 904 927 950 4 Transfers to Other Funds (Debt) 1 1 1 1 1 1 1 1 1 1 1 Schedule (127,163) 148,497 205,568 32, 965 50, 804 49 400 (135, 604) 19 963 89, 912 74 Contingency 107 90 7 6 69 - - - - - - Schedule (17, 498) (267, 654) (83, 550) (69, 000) - - - - - - Transfers to Other Funds - - - - - 100 50 50 50 50 50 50 Schedule Revolving Park Equip Fund - - - (50,000) - - - - - - Grand total 12 11 11 11,601,016 12 12 12 12 13 13 13 1 7 791 7 775 Change ($) (452, 068) (12, 009) 60 (356, 428) 67 303 390 217,964 419 460 1 Change ( %) -3.77% -0.10% 0.52% -2.86% 0.56% 2.49% 3.12% 1.69% 3.20% 3.41% 14.70% C: IDOCUME- 1lcgreenlLOCALS- 11TempIELF20110415 14134612012 Property Tax Projections - 2011.04.18 Workshop (3) : Expenditures Page 1 of 1 411512011 PRIp U U 4646 Dakota Street SE � Prior Lake. MN 55372 Budget 2012 Dates and Topics Discussion Adopted March 21, 2011 mAcouncillbudget 2012 dates and topics discussion.docx Date Hours Discussion Topics Adoption 1 Mon, Apr 4 4:30 — 7:00 p.m. Fiscal Disparities Clarification Apr 18 Comprehensive Financial Management Policy Reserve Balances for: • General Fund • Water Fund • Sewer Fund • Water Quality Fund n/a • Transit Fund Availability of Financial Information 2 Mon, Apr 18 4:30 — 7:00 p.m. Long Range Financial Planning n/a • Use of Reserves • Maximum Levy 3 Mon, Jun 6 4:30 — 7:00 p.m. Draft CIP: Aug 15 • Transportation Plan • Water Operating Plan • Sewer Operating Plan • Equipment Replacement Plan • Park Equipment Replacement Plan • 2030 Vision and Strategic Plan Does NOT include Facilities Management Plan or Technology Plan 4 Mon, Jun 20 4:30 — 7:00 p.m. Benchmark Discussion n/a Amended 2011 Budget Jul 18 • 2030 Vision and Strategic Plan 5 Tues, Jul 12 4:30 — 8:30 p.m. Facilities Management Plan Aug 15 (tentative) Technology Plan Aug 15 Personnel Services Plan Aug 15 6 Mon, Aug 1 4:30 — 7:00 p.m. Park Analysis Aug 15 7 Mon, Aug 15 4:30 — 7:00 p.m. Preliminary 2012 Budget with additional Sept 6 benchmark presentation 8 Mon, Nov 7 4:30 — 7:00 p.m. Year End Preview mAcouncillbudget 2012 dates and topics discussion.docx