HomeMy WebLinkAbout8A - Capital Imp .2003-2007
STAFF AGENDA REPORT
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
JUNE 3, 2002
8A
RALPH TESCHNER, FINANCE DIRECTOR
CONSIDER APPROVAL OF A RESOLUTION APPROVING THE 2003-
2007 CAPITAL IMPROVEMENT PROGRAM (CIP)
DISCUSSION:
History
Annually the City prepares a capital improvement program (CIP). The CIP
is designed to identify infrastructure improvements and funding sources
therefore that are necessary as a result of primarily two factors; community
growth and infrastructure maintenance and replacement.
Such projects include City initiated improvements, county and state road
improvements and improvements requested by developers. In some cases
they involve financial responsibility on behalf of Prior Lake, while in others
they may not. In addition, an Equipment Matrix is included which identifies
the City's equipment needs and establishes a regular replacement schedule.
Earlier a draft copy of the 2003-2007 Capital Improvement Program was
distributed for your review so you would have more opportunity to become
familiar with the proposed projects. Within the CIP are condensed project
summary sheets (see inserts entitled "Capsule Project Summary") that
present a list of projects by year along with a financing source recap; the
City's specific share of the project cost and the estimated tax impact of
each year's projects. This capsule summary should be helpful for the
Council to refer back and forth between years as a quick reference guide.
Also included is a condensed financial analysis entitled "Financing Funds
Projection" that matches revenue sources with the five year CIP
construction demands showing the beginning and the ending position of
those capital funds which provide the underlying financing of the projects.
On May 6, 2002 a work session was conducted whereby the Council had
the opportunity to review, discuss and provide direction to Staff on specific
items the Council wished to change. There was consensus by the Council
with respect to the 2003 proposed projects with the remaining program
improvements supported by the council as a whole.
Current Circumstances
At the conclusion of the work session, Staff prepared the following list of
recommended changes to the CIP program and updated the CIP document
to incorporate these amendments:
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
. ........... .... . .................................... .'m............................................. .............._........................._.............................~......_..................--,
i.~9..'.~~!?~P.Cl:'.:~'.13:.'.!t...m....j...mm........m........m....._......._.......................,,-1
I -I Delete the park entrance sign appropriations as a result of Council !
I action to accelerate sign placement in the park system this year as I
.. opposed to staging the replacement of signs over the course of the I
CIP. I
.................................................-.............................................................. ,................................... .....................1
I
...............................................................-...-.... ................................................................. .........................-............., .....................,
s , !
- Switch Fish Point Road'street reconstruction project with."is"6fli'Streei"l
and Mitchell Ponds project for next year to coincide with Savage's i
proposed intersection work. i
Add..C~~ 82 coopera!.iveTeconstruction pr~j:..~!i.~,,~gg?...::~:.=:.-.!
Also enclosed is a revised Capsule Project Summary that presents a list of
all the proposed 2003-07 CIP projects as amended. It is important for the
Council to recognize that the document is a flexible planning tool that is
affected by the actions of a number of governmental agencies (State,
County and Shakopee Mdewakanton Dakota Community). The Council
should critically review those projects proposed for 2003. Those
improvements selected for bonding will affect the property taxes payable in
2004. Council should remember that the school district and county will also
influence the level of taxes through their annual levies and periodic
referendums and bond issues.
Those programs which are not deemed to be of high priority (particularly in
2003) should be eliminated now so they do not generate public expectation
and also to avoid unnecessary City effort and expense.
Issues
Historically the TH13 intersections have been the Council's highest priority
for obvious reasons. Commerce/Boudins/TH13 that was not supported by
the State has been moved up due to anticipated development of the TH
l3/CSAH 42 intersection. Phase II of the ring road is likely to be moved
back a year due to difficulties acquiring right-of-way. The Council should
also discuss the proposed adjustment of 150th/Mitchell Ponds to 2003
while Fish Point/Fairlawn was moved to 2004. This switch allows for a
second major TH13 intersection to be reconstructed at the same time
Savage will be making improvements to 150th. Finally we have received a
considerable number of calls about CSAH 82. This project is a cooperative
project that Scott County is primarily responsible for and has scheduled in
its CIP for construction in the year 2007.
Conclusion
At the meeting the appropriate department heads will be present to answer
further questions about the Capital Improvement Program. Following
Council approval of the Capital Improvement Program, Engineering will
prepare a feasibility report for those projects identified for next year.
Adequate lead time is important for surveying, right of way acquisition and
H:\CIP\CIPAGEN.DOC
2
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FISCAL IMP ACT:
H:\CIP\CIPAGEN.DOC
engineering to obtain the best possible bids, which is generally early in the
year.
Subsequent years in the CIP are more important from a planning
perspective. Our objective in preparing the CIP has been to balance the tax
impacts from year to year while addressing infrastructure needs.
In reviewing the draft 2003-2007 Capital Improvement Program, the
Council should consider the annual tax impact of the scheduled projects.
While state imposed levy limits will probably be in effect for payable 2003,
debt levies associated with our capital improvement program are exempt.
The major project proposed for 2003 involving a property tax levy is listed
below along with the respective tax impact:
r..Pr.oj.ect..I)"esc.i=iption........................................T.....Proi"ect"t:;evy......"[...City..Tax..I"mpact*...j
r..........................................................................................................r.....................................................r............."$..............r...........%............j
;................'1::................................................................................................................................................................................................................,
i 150tu Street and Mitchell Ponds i $510,000 i $10.36 I 1.39% i
! Reconstruction ! ! i !
t:::::::::::::::::::::~:::::::::::::~::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::1:::::::::::::::::::::::::::::::::::::::::::::::::::::1:::::::::::::::::::::::::::::::l:::::::::::::::::~::::::::::1
! TOTALS i $510,000 i $10.36 i 1.39% j
.............................................................................................................:.........................................................................................................................,
Listed below is a year by year tax recap if all the projects that include a tax
levy were implemented. The Scott County Assessor has estimated the
average Prior Lake market value of a home to be approximately $175,000.
This typical value has been utilized for purposes of calculating the
following tax impact.
*(A 2002) base tax of $742.67 [City portion} was utilized to compute the
beginning percentage increases. Budgetary increases are excluded for
purposes of comparing the effect of capital dol/aI'S only within the context
of the ClP. Also this model assumes an annual 2% tax capacity valuation
growth.)
Project Year and Levy Amount
Tax Impact
$ %
$10.36 1.39%
$14.88 1.98%
$11.74 1.53%
$13.48 1.73%
$12.95 1.64%
2003
2004
2005
2006
2007
$510,000
$750,000
$600,000
$705,000
$690,000
The annual tax impact is fairly balanced over the course of the CIP years.
As to the Equipment Matrix, the annual property tax experiences annual
$10,000 step increases over the matrix's 12 year term. The Equipment
Matrix also has, as one of its funding sources, an annual transfer of $50,000
from the Enterprise Fund that is adjusted semi-annually because a
3
AL TERNA TIVES:
RECOMMENDA TION:
RECOMMENDED
MOTION:
REVIEWED BY:
Attachments:
H:\CIP\CIP AGEN.DOC
significant portion of the equipment serves the Water and Sewer
departments.
The following alternatives are available for Council consideration:
1. Approve the proposed 2003-2007 Capital Improvement Program as
submitted.
2. Provide direction to the staff to modify the proposed program to
mitigate annual tax increases while insuring appropriate maintenance of
public infrastructure.
3. Amend the 2003-2007 Capital Improvement Program as per Council
determination.
Staff recommends Alternative #1. While it is important that the Capital
Improvement Program be adopted expeditiously, it is equally important that
the Council be comfortable and supportive of the proposed projects and
their tax consequences. Once the CIP is approved the Engineering
Department will return to the Council for authorization to begin the
feasibility study for those projects scheduled for 2003.
Approving the 2003-2007 Capital
1. A Resolut on proving the 2003-2007 Capital Improvement Program
2. Revised "Capsule Project Summary"
4
MOTION BY:
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
WHEREAS,
(5
RESOLUTION O~
RESOLUTION APPROVING THE
2003-2007 CAPITAL IMPROVEMENT PROGRAM
Jf;.
~..p
SECOND BY:
The purpose of a Capital Improvement Program is to protect the infrastructure of the
City of Prior Lake by establishing a replacement plan for existing infrastructure and
to identify those improvements necessary to accommodate the growth of the
community; and
An Equipment Matrix has been incorporated into the Capital Improvement Program
which is intended to identify the City's equipment needs and provide a regular
replacement schedule; and
The Capital Improvement Program is a flexible planning document that attempts to
balance the financial resources of the City with its needs; and
The establishment of a Capital Improvement Program will provide appropriate
information to manage capital change within the City of Prior Lake; and
It is intended for the Capital Improvement Program to be established for a period of
five (5) years and to be updated annually; and
the City Council carefully reviewed each element of the Capital Improvement
Program at a work session on May 6, 2002 and suggested amendments to the
document.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, that the
2003-2007 Capital Improvement Program is hereby approved.
Passed and adopted this 3rd day of June 2002.
{Seal}
Haugen
Gundlach
LeMair
Petersen
Zieska
YES
'\
A
NO
Haugen
Gundlach
=t= LeMair
Petersen
Zieska
~
City Manager
City of Prior Lake
H.ICIPICIP03res.DOC
16200 Eagle Creek Ave. S.E., Prior Lake, Minnesota 55372-1714 / Ph. (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
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CAPSULE PROJECT SUMMARY
5/10/02
2003 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
QQ1laL Percentage
Economic Development Authority
1. Downtown Redevelopment "TBD" "TBD"
2. General Community Redevelopment "TBD" "TBD"
Park Department
fDeve/oomentl
3. Volleyball Court - Lakefront Park 5,000.00 5,000.00 c.p.
4. Basketball Court - Boudins 10,000.00 10,000.00 c.p.
5. Batting Cage - Memorial Park 10,000.00 10,000.00 C.p.
6. Tree Planting Program 10,000.00 10,000.00 c.p.
7. Portable Bleachers 15,000.00 15,000.00 c.p.
8. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
9. Trail Access Parking Lots" Jeffers Ponds 25,000.00 25,000.00 c.p.
10. Outfield Netting" Ponds Athletic Fields 30,000.00 30,000.00 c.p.
11 Gazebo - Lakefront Park 30,000.00 30,000.00 c.p.
12. Playground Equipment" Meadow View 35,000.00 35,.000.00 c.p.
13. Picnic Shelters (3) - Jeffers 60,000.00 60,000.00 c.p.
14. Parking Lot Lighting - Lakefront Park 110,000.00 110,000..00 c.p.
tmiW
15. Green Oaks, Glynwater East, Jeffers, Memorial 145,000.00 145,000.00 c.p.
t./.a11!tl
16. Arctic Lake/Northwood Park Land Acquisition 250,000.00 250,000.00 C.p.
Public Works
(Buildinos/Plant)
17. Aerial Photography Update 30,000.00 30,000.00 t.r.
18. Trunk Watermain (Fountain Hills) 30,000.00 30,000.00 t.r.
19. Lift Station Renovation 120,000.00 120,000.00 u.f.
20. Water Tower Painting (Tower Street) 550,000.00 550,000.00 u.f.
21. Water Meter Change-out Program 500,000.00 500,000.00 u.f.
22. Municipal Well 650,000.00 650,000.00 t.r.
(Improvements)
23. 150th Street Overlay (west section) 100,000.00 100,000.00 o.b.
24. Trunk Watermain (CSAH 83 south of CSAH 42) 145,000.00 145,000.00 t.r.
25. McKenna Road Realignment 250,000.00 200,000.00 m.s.
50,000.00 t.r.
26. Prior Lake Outlet Channel Repairs 300,000.00 300,000.00 t.r.
27. Trunk S&W Main (CSAH 42 west of CSAH 21 to 83) 700,000.00 700,000.00 t.r.
28. 150th St. Recon (TH 13 to Fairlawn Shores Trl) 1,400,000.00 510,000.00 10.36 1.39%
Mitchell Ponds Street Reconstruction 340,000.00 s.a
250,000.00 m.S.
300,000.00 t.r.
29. TH 13 Intersection Imp. 5,800,000.00 60,000.00 s.a
(Commerce/Boudins) 100,000.00 t.r.
(150th Street) 340,000.00 u.f.
(CSAH 23/Five Hawks) 1,250,000.00 c.s.
650,000.00 m.S.
Water Resources 3,400,000.00 I.g.
(ImDrovemenfsl
30. Storm Water Pond Dredging
31. Lake Bank Stabilization 20,000.00 20,000.00 S.w.
32. Storm Drainage Improvements 40,000.00 40,000.00 S.w.
~ ~ s.w.
Totals ...
11,465,000.00 11,465,000.00
Financing Source Summary
Project Amount Tax Impact
Dllllar PercentaQe
$ Project Tax Levy 510,00000 $10.36 1.39%
o.b. Operating Budget 100,000.00
u.f. Sewer & Water Utility Fund 1,510,000.00
s.w. Storm Water Utility Fund 140,000.00
c.p. Capital Park Fund 750,000.00
t.r. Trunk Reserve Fund 2,305,00000
c.s. Collector Street Fund 1,250,000.00
m.S. Municipal State Aid 1,100,000.00
s.a. Special Assessments 400,000.00
I.g. Intergovernmental 3 400 000 00
Totals ... 11,465,000.00
8
CAPSULE PROJECT SUMMARY
5/10/02
2004 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
Q.Q!!aL Percentaae
Economic Development Authority
1. Downtown Redevelopment "TBD" "TBD"
2. General Community Redevelopment "TBD" "TBD"
General Government
3. City Hall/Public Safety Facility 6,900,000.00 1 ,900,000.00 gJ.
5,000,000.00 r.b
Park Department
(DeveloomentJ
4. Wind Screen - Memorial Park 5,000.00 5,000.00 c.p.
5. Basketball Court - Ryan Park 10,000.00 10,000.00 c.p.
6. Tree Planting Program 10,000.00 10,000.00 c.p.
7. Portable Bleachers 15,000.00 15,000.00 C.p.
8. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
9. Trail Access Parking Lots.. Haas Lake Park 25,000.00 25,000.00 c.p.
10. Gazebo - Woods at Wilds & Deerfield 40,000.00 40,000.00 C.p.
11. Picnic Shelters (3) - Northwood/Cardinal Rdg/Haas 60,000.00 60,000.00 c.p.
12. Playground Equipment - Jeffers & Haas Lake 70,000.00 70,000.00 c.p.
13. Sand Point Bathhouse Remodel 65,000.00 65,000.00 c.p.
fI!:2.iW.
14. Haas Lake Park 75,000.00 75,000.00 c.p.
Public Works
(Buildinas & Plant!
15. Well House #4 Building 80,000.00 80,000.00 u.f.
16. Lift Station Renovation 120,000.00 120,000.00 uJ.
17. Water Tower Painting (Crest Ave. interior) 290,000.00 290,000.00 uJ.
(ImorovementsJ
18. Trunk Watermain (Fish Point Rd Ex!. to CSAH 21 J 50,000.00 50,000.00 t.r.
19. Trunk Watermain (CSAH 42 from CSAH 83 10 W. Limit) 125,000.00 125,000.00 t.r.
20. Central Sanitary Sewer Lift Station (NW section) 175,000.00 175,000.00 t.r.
21. Carriage Hills Parkway Connection to Sand pt. 200,000.00 200,000.00 c.S.
22. Fountain Hills Drive extension to McKenna 200,000.00 200,000.00 m.s.
23. CSAH 12 coop share (storm, curb, lights. trails) 700,000.00 400,000.00 t.r.
300,000.00 c.s.
24. Fish Point Rd/Fairlawn West Reconstruction 1,450,000.00 750,000.00 14.88 1.98%
500,000.00 s.a
200,000.00 t.r.
Water Resources
(Improvements)
25. Storm Water Pond Dredging 20,000.00 20,000.00 s.W.
26. Lake Bank Stabilization 20,000.00 20,000.00 s.w.
27. Storm Drainage Improvements 60 000.00 60 000 00 s.w.
Totals ... 10,780,000.00 10,780,000.00
Financing Source Summary Project Amount Tax Impact
QQ!!.ar Percentaae
$ Project Tax Levy 750,000.00 $14.88 1.98%
g.f. General Fund 1,900,000.00
u.f. Sewer & Water Utility Fund 490,000.00
s.w. Storm Water Utility Fund 100,000.00
c.p. Capital Park Fund 390,000.00
t.r. Trunk Reserve Fund 950,000.00
c.s. Collector Street Fund 500,000.00
m.s. Municipal State Aid 200,000.00
s.a. Special Assessments 500,000.00
r.b. EDA Revenue Bonds 5 000 000 00
Totals ... 10,780,000.00
9
CAPSULE PROJECT SUMMARY
5/10/02
2005 CIP PROJECTS
Project Description
Project Amount
Economic Development Authority
1. Downtown Redevelopment
2. General Community Redevelopment
"TBD"
"TBD"
Fire Department
(Buildings & PianO
3. 110' Aerial Ladder Platform Firetruck
4. Satellite Fire Station
900,000.00
1,000,000.00
Park Department
(DeveloDmenO
5. Basketball Court - Sand Point Park
6. Tree Planting Program
7. Park Appurtenant Equipment
8. Gazebo - Markley Lake Park
9. Picnic Shelter - Watzl's Point Beach
10. Playground Equipment - Sand Point Beach
(LrnjW
11. Markley Lake Park
Financing
"TBD"
"TBD"
900,000.00
1 ,000,000.00
City Cost
Tax Impact
QQlJar.. Percentage
g.o.
g.o.
10,000.00 10,000.00 c.p.
10,000.00 10,000.00 c.p.
15,000.00 .15,000.00 c.p.
20,000.00 20,000.00 c.p.
20,000.00 20,000.00 c.p.
80,000.00 80,000.00 C.p.
30,000.00 30,000.00 c.p.
Public Works
(Buildings & PianO
12. Lift Station Renovation
(Improvements)
13. Trunk Watermain (CSAH 18)
14. Gateway Shores Street Reconstruction
120,000.00
200,000.00
1,200,000.00
15. TH 13 Intersection Imp. (CSAH 44)
700,000.00
Water Resources
(Improvements)
16. Storm Water Pond Dredging
17. Lake Bank Stabilization
18. Storm Drainage Improvements
20,000.00
20,000.00
40000.00
Totals ...
4,385,000.00
Financing Source Summary
Project Amount
$ Project Tax Levy
u.f. Sewer & Water Utility Fund
s.w. Storm Water Utility Fund
c.p. Capital Park Fund
t.r. Trunk Reserve Fund
m.s. Municipal State Aid
s.a. Special Assessments
i.g. Intergovernmental
g.o. G.O. Referendum Bonds
600,000.00
120,000.00
80,000.00
185,000.00
500,000.00
400,000.00
400,000.00
200,000.00
1 900000.00
Totals ... 4,385,000.00
10
120,000.00
200,000.00
600,000.00
400,000.00
200,000.00
200,000.00
400,000.00
100,000.00
20,000.00
20,000.00
40 000 00
4,385,000.00
u.f.
t.r.
11.74
1.53%
s.a
t.r.
Lg.
m.s.
t.r.
s.w.
s.w.
s.w.
Tax Impact
QQl1ar Percentage
$11.74 1.53%
CAPSULE PROJECT SUMMARY
5/10/02
2006 CIP PROJECTS
City Cost
Project Description Project Amount Financing Tax Impact
QQllilL Percentage
Economic Development Authority
1. Downtown Redevelopment ''TBD'' "TBD"
2. General Community Redevelopment "TBD" "TBD"
Park Department
(Develooment)
3. Tree Planting Program 10,000.00 10,000.00 c.p.
4. Park Appurtenant Equipment 15,000.00 15,000.00 c.p.
5. Playground Equipment - Watzl's Point 20,000.00 20,000.00 c.p.
6. Picnic Shelter - Westbury Ponds 20,000.00 20,000.00 C.p.
{IrgjW
7. Fremont Avenue 150,000.00 150,000.00 c.p.
Public Works
(Buildings & Plant)
8. Lift Station Renovation 120,000.00 120,000.00 u.f.
9. Water Tower Painting (Crest Ave. exterior) 300,000.00 300,000.00 u.f.
(ImorovementsJ
10. Conroy/Shady Beach Street Reconstruction 1,500,000.00 705,000.00 13.48 1.73%
470,000.00 s.a
225,000.00 t.r.
100,000.00 g.f.
Water Resources
(ImorovementsJ
11. Storm Water Pond Dredging 20,000.00 20,000.00 S.w.
12. Lake Bank Stabilization 30,000.00 30,000.00 S.w.
13. Storm Drainage Improvements 40 000.00 40 000 00 s.w.
Totals ... 2,225,000.00 2,225,000.00
Financing Source Summary Project Amount Tax Impact
QQll.ar Percentage
$ Project Tax Levy 705,000.00 $13.48 1.73%
g.f. General Fund 100,000.00
u.f. Sewer & Water Utility Fund 420,000.00
s.w. Storm Water Utility Fund 90,000.00
c.p. Capital Park Fund 215,000.00
t.r. Trunk Reserve Fund 225,000.00
s.a. Special Assessments 470 000.00
Totals ... 2,225,000.00
11
Project Description
Economic Development Authority
1 . Downtown Redevelopment
2. General Community Redevelopment
Park Department
(DevelopmenO
3. Tree Planting Program
4. Park Appurtenant Equipment
Public Works
(Buildings/PianO
5. Lift Station Renovation
6. Water Filtration Plant
(ImorovementsJ
7. Industrial Circle sewer & water extension
CAPSULE PROJECT SUMMARY
5/10/02
2007 CIP PROJECTS
Project Amount
"TBD"
"TBD"
1 0,000.00
15,000.00
120,000.00
6,000,000.00
260,000.00
700,000.00
9. Martinson Island Street Reconstruction
8. CSAH 21 N. Coop Share (storm sewer, curb, lights)
1,475,000.00
10. CSAH 82 Reconstruction
Water Resources
(ImorovementsJ
11. Storm Water Pond Dredging
12. Lake Bank Stabilization
13. Storm Drainage Improvements
Financing Source Summary
$ Project Tax Levy
g.f. General Fund
u.f. Sewer & Water Utility Fund
s.w. Storm Water Utility Fund
c.p. Capital Park Fund
t.r. Trunk Reserve Fund
c.s. Collector Street Fund
m.s. Municipal State Aid
s.a. Special Assessments
i.g. Intergovernmental
w.r. Water Revenue Bonds
3,000,000.00
20,000.00
30,000.00
40 000.00
Totals ...
11,670,000.00
Project Amount
690,000.00
100,000.00
120,000.00
190,000.00
25,000.00
660,000.00
450,000.00
750,000.00
685,000.00
2,000,000.00
6 000 000 00
Totals ... 11,670,000.00
12
Financing
"TBD"
"TBD"
10,000.00
15,000.00
120,000.00
6,000,000.00
225,000.00
35,000.00
400,000.00
300,000.00
690,000.00
460,000.00
225,000.00
1 00,000.00
2,000,000.00
750,000.00
150,000.00
1 00,000.00
20,000.00
30,000.00
40 000.00
11,670,000.00
City Cost
Tax Impact
QQJJ.aL Percentage
c.p.
c.p.
u.f.
w.r.
s.a.
t.r.
t.r.
c.s.
12.95 1.64%
s.a
t.r.
g.f.
I.g.
m.s.
c.s.
s.w.
s.w.
s.w.
s.w.
Tax Impact
.QQJ..la[ PercentaQe
$12.95 1.64%
CAPSULE PROJECT SUMMARY
5/10/02
2003-07 CIP PROJECT FINANCING SOURCE TOTALS
Financing Source Amount
$ Project Tax Levy 3,255,000.00
g.f. General Fund 2,200,000.00
n.f. Sewer & Water Utility Fund 2,660,000.00
s.w. Storm Water Utility Fund 600,000.00
c.p. Capital Park Fund 1,565,000.00
t.r. Trunk Reserve Fund 4,640,000.00
c.s. Collector Street Fund 2,200,000.00
m.s. Municipal State Aid Fund 2,450,000.00
s.a. Special Assessments 2,455,000.00
Lg. Intergovernmental 5,600,000.00
r.b. Revenue Bonds 11,000,000.00
g.o. G. O. Referendum Bonds 1.900.000.00
Totals ... 40,525,000.00
13
T
FINANCING FUNDS PROJECTIONS
5/10/02
(Needs vs. Available Dollars)
2002-2007
1/1/02 Fund Six-Year Revenue CIP Construction 1/1/08 Projected
Financina Source Reauest Balances Proiection Demands* Cash Balances
General Fund $ 4,377,000.00 $ 1,500,000.00 $ 2,200,000.00 $ 3,677 ,000.00
Sewer/Water Utility Fund $ 5,208,000.00 $ 1,500,000.00 $ 3,780,000.00 $ 2,928,000.00
Storm Water Utility Fund $ 99,000.00 $ 1,035,000.00 $ 740,000.00 $ 394,000.00
Capital Park Fund $ 1,309,000.00 $ 2,155,000.00 $ 2,583,000.00 $ 881,000.00
Trunk Reserve Fund $ 2,698,000.00 $ 4,377,000.00 $ 6,415,000.00 $ 660,000.00
Collector Street Fund $ 1,873,000.00 $ 600,000.00 $ 2,470,000.00 $ 3,000.00
Municipal State Aid Fund $ 1,346,000.00 $ 2,100,000.00 $ 3,410,000.00 $ 36,000.00
Project Tax Levy $ 3,895,000.00 $ 3,895,000.00
Special Assessments $ 3,080,000.00 $ 3,080,000.00
Intergovernmental $ 5,600,000.00 $ 5,600,000.00
G.O. Referendum Bonds $ 1,900,000.00 $ 1,900,000.00
Revenue Bonds $ 11,000,000.00 $ 11,000,000.00
TOTALS.. . $ 16,910,000.00 $ 38,742,000.00 $ 47,073,000.00 $ 8,579,000.00
FOOTNOTES:
elF Exvenditures:
*Construction demands... includes Yr. 2002 crp plus $25,000 skateboard project, $70,000 park entrance signs,
$400,000 fig well & potential $500,000 community park site acquisition
Revenue Growth Assunwtions (six veal's):
General Fund... 1/1/02 fund balance plus $1,500,000
S/W ... 1/1/02 fund balance plus $1,500,000
Stormwater ... 1/1/02 fund balance plus $160,000/yr. + $5,000 annual increment increases
Capital Park... 1/1/02 fund balance + $75,000 PLAY donation + 400 permits @ $850.00 and 1100 new lots @ $1,650.00
Trunk Reserve Fund... 1/1/02 fund balance plus 400 ac. @ $3500/ac. & $2943/ac. + 1500 permits @ $1200.00
Collector Street Fund... 1/1/02 fund balance plus 400 ac. @ $1500/ac.
Municipal State Aid... Construction balance of $1 ,346,000 + $350,000 annual allocation
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