HomeMy WebLinkAbout10A 2012 4th Qtr Prelim Financial Report O � PKIp
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4646 Dakota Street SE
�"'rivx�so'��' Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: MARCH 11, 2013
AGENDA #: 10A
PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR
PRESENTER: JERILYN ERICKSON
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 4TH QUARTER 2012
FINANCIAL REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
December 31, 2012 for the following funds: '
• General Fund
• Debt Service Funds
• Revolving Equipment Fund
• Facilities Management Fund
• Water Fund
• Sewer Fund
• Water Quality Fund
• Transit Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity for all of 2012. The
reports are preliminary, unaudited and may change. The attached
memorandum provides a summary of the significant issues.
If council members have questions please feel free to contact me at 952-
447-9841 for more information.
ALTERNATIVES: 1. A motion to accept the December 31, 2012 Financial Report as
submitted.
2. Take no action and provide the staff with specific direction.
RECOMMENDED Alternative 1.
MOTION:
a � rxr MEMORANDUM
�.
u � DATE: March 11, 2013
TO: Prior Lake City Council
�'MNbs�* FROM: Jerilyn Erickson, Finance Director
RE: Financial Report dated 12/31/2012
The financial reports presented as part of this agenda item reflect activity during 2012. The
significant issues identified at this time are summarized below.
General Fund Summarv
Key points for 2012:
• Preliminary financial information reflects expenditures exceeding revenues by $786,000.
• General Fund Balance reserves are projected at $6.96M as of 12/31/2012 which
equates to a 57% reserve balance.
The 2012 original budget anticipated a use of fund balance reserves in the amount of $736,000. ,
Subsequent budget amendments increased the anticipated use of fund balance reserves to
$1,915,000. This budgeted use of reserves, when combined with the revenue variance of
$839,000 and the expenditure variance of $290,000 results in the $786,000 reduction to the
Fund Balance reserves ($839,000 + $290,000 - $1,915,000 = ($786,000)).
General Fund Revenues
Property taxes were received in June and December. A final settlement was received in
January. Current tax collections were at 99.2% compared to 95% in 2011 and 2010.
Delinquent collections were about 10% lower than 2011 but, recognizing that the delinquent
receivables were lower as of 12/31/11 compared to 12/31/2010, this was expected. Overall
General Fund tax revenues are about $72k higher than what was budgeted.
Single family building permits were budgeted at 85 for 2012. Revenues associated with building
permits and plan check fees are approximately $428k higher than what was budgeted. The
following chart shows building permit activity and average values for years 2008 through 2012.
Permits Issued:
Sin le Famil 65 62 94 80 122
Townhomes 19 0 0 26 52
Commercial/ 7 5 2 0 2
Industrial
Miscellaneous 1,381 1,333 1,528 1,778 2,115
Total Permits 1,472 1,400 1,624 1,884 2,291
Avera e Value:
Sin le Famil $ 304,462 $278,323 $267,298 $282,400 $347,000
Townhomes $ 137,053 $ 0 $ 0 $142,615 $174,000
Commercial/ $1,745,714 $570,200 $280,000 $ 0 $547,000
Industrial
Page 2
The Municipal State Aid (MSA) for road maintenance was about $28k higher than budget. The
State Fire Aid and State Fire Training Aid were $12k higher than budget. The State Fire Aid is a
direct pass-through to the Fire Relief Association.
Federal, State and County grants contributed $19k for various programs and projects.
Project administration for engineering projects was $15k lower than budget. As staff fine tunes
their time-tracking for projects, we may see some fluctuations in the estimates versus the actual
costs.
Franchise fees were budgeted at $560k for 2012. Overall fees are $40k higher than budget and
$13k higher than 2011. This is primarily due to higher fees collected from Integra and
Mediacom. An audit of fees submitted by Mediacom was conducted earlier in 2012 by Lewis &
Associates for the period 2004-2006. As previously shared with Council, the report indicated
that Mediacom had underpaid fees by approximately $32k over the 2004-2006 periods. This
revenue was not anticipated in the 2012 budget.
Recreation revenues (including Park admission fees) are $14k under budget. Admission fees
were only charged on the weekends and not throughout the week per council direction.
Approximately $101 k of administrative fees has been collected on the following developments:
Maple Glen 4' and 5 Hickory Shores 3` and 4 Eagle Creek Estates, Bluffs of Candy Cove,
Jeffers Pond 6 and Radermachers 2" Due to the limited activity of new developments in
recent years, administrative fee revenues were not budgeted for 2012.
Miscellaneous revenues include false alarm fees, investigation fees for licenses, reimbursement
of police overtime from organizations, electrical inspector fees, insurance dividends,
reimbursement of half of the costs associated with election equipment from ISD#719, etc.
Preliminary reports show that actual revenues exceed the 2012 budget by approximately $839k.
The following table highlights the revenue categories that comprise the $839k:
R�venue Categc��ry � Revet�ues to '
Exceed
, � ` �. �. .=::Bud' e�t � �
Property Taxes — 99% collection rate plus delinquent $ 72,000
collections
Li uor Licenses 11,000
Building Permits & Plan Check Fees — based on 122 428,000
sin le famil and 54 townhouse ermits
State road and brid e aid 28,000
State Fire Aid — this is a direct pass through to the Fire 12,000
Relief Association; and State Fire Trainin Aid
Federal, State and Count Grants 19,000
Pro�ect Administration/En ineerin Fees 15,000
Franchise Fees — includes $28k from Mediacom audit 40,000
Recreation Revenues 14,000
Develo erA reements 101,000
Miscellaneous Revenues 130,000
Other Ad�ustments 27,000
Estimated Total Revenues Exceedin Bud et $ 839,000
Page 3
General Fund Expenditures
General Fund expenditures for 2012 represent 98 percent of the $13,944,978 amended budget.
The level of expenditures (in total) is significantly higher than 2012 due to several Council-
authorized transfers of funds. General categories vary in how they are impacted from less
snowfall events, the conversion of payroll from current to arrears, the 2011 reorganization, new
Finance staff, change in legal firms, etc.
There are many factors that are impacting where expenditures will be at yearend. There has
been employee turnover in many of the departments including Building Inspections,
Engineering, Public Works and Recreation. In addition, there was a delay in filling the Police
Sergeant and GIS positions. These personnel changes have resulted in approximately $154k in
savings due to positions being open for an extended period of time and, when finally filled, the
compensation package is typically lower for the new employee.
Preliminary General Fund expenditures are expected to come in less than the 2012 budget by
approximately $290k.
The following table highlights the large variances expected in personnel, current expenditures
and capital outlay:
��� �xpen�liture Category Estimated �� � ��btQ�als by
Expenc[itures � �C�te�owy � � �
Co�npare�! #o � , �� ���
�ud et*
Personnel:
Dela ed hirin of Police Ser eant $ 64,000
Reductions from Em lo ee Turnover 90,000
Overtime 33,000
Fire Insurance Premium (paid to Fire Relief ( 8,000)
Association
Miscellaneous 4,000
Total Personnel $ 109,000
Current Ex enditures:
Fuel $ 7,000
Le al - Prosecution Fees 29,000
E ui ment Re airs 15,000
Professional Services 32,000
Utilities - Gas 35,000
Street Overla 43,000
Technolo Software Desi n 14,000
Re air & Maintenance Services 21,000
Miscellaneous 36,000
Total Current Ex enditures $ 190,000
Ca ital Outla Ex enditures:
Park Im rovements & E ui ment $ 32,000
Technolo 39,000
Miscellaneous 1,000
Total Ca ital Outla Ex enditures $ 8,000
Transfers to Other Funds $ 1,000
Total Ex enditures $ 290,000
*positive = budget savings; negative = expenditure exceeds budget
Page 4
Debt Service Funds
Property taxes and special assessments were received with the tax settlements. Significant
prepayments ($177k) were received for special assessments associated with the Boudin's
Phase II project.
The Economic Development Authority Public Project Bond of 2005 which was originally issued
to fund the construction of City Hall/Police Station was refunded in March, 2012. Proceeds for
the refunding are shown in the debt service funds.
Revolvinq Equipment Fund
Property taxes and special assessments were received in June, December and January (final
tax settlement). Proceeds from the sale of vehicles are recorded in this fund. Funding is also
provided by annual transfers from the Water Fund and Sewer Fund.
Equipment was purchased per the Equipment Replacement Plan. In addition, the Council
authorized amendments to the budget to allow for additional equipment purchases.
Funds received from police forfeitures and the eligible expenditures are also recorded in this
fund.
Facilities Manaqement Fund
Transfers from the General Fund, Water Fund and Sewer Fund are the primary source of
revenues for the 2012 Facilities Management Fund budget. The Council authorized an
additional transfer of $300k from the General Fund to prefund the 2013 and 2014 transfers as
indicated in the Facilities Management Plan.
Insurance proceeds from a hail damage claim settlement were used to fund the roof repairs at
Fire Station #1.
Expenditures reflect the design costs associated with the fire station roof and maintenance
facility floor improvements and the maintenance center parking lot improvements. The Club
Prior/library HVAC repairs and upgrades were started in 2012 but will be completed in 2013.
Water Fund
The financial report for the Water Fund reflects six billing cycles. Consumption increased about
17% due to the hot and dry season in 2012. Water revenues are about 40% higher compared
to 2011 due to higher consumption as well as the rate increases that were effective in 2012.
Increased building permit activity resulted in a higher level of sales of water meters and
pressure reducers.
Authorized funding for the Boudin's Phase II, Arcadia and Brooksville Hills II (final) projects is
reflected in the capital improvements. The 2012 budget included $400k for construction of Well
#10 and $200k for watermain improvements. Discussions are being held with the SMSC to
address a joint water facility in lieu of the Well #10. The watermain improvements were not
completed in 2012 and have been carried over to 2013.
Sewer Fund
The financial report for the Sewer Fund reflects six billing cycles. Consumption increased about
4% due to the hot and dry season in 2012. A rate increase was implemented for the MCES
Sewer charge but not the City Sewer charge. Total revenues are about 12% higher compared
to 2011 due to higher consumption as well as the rate increase.
Authorized funding for the Boudin's Phase II, Arcadia and Brooksville Hills II (final) projects is
reflected in the capital improvements. The 2012 budget also included $150k for sanitary
Page 5
improvements at Duluth and Anna Trail. These improvements have been delayed due to the
Downtown study.
Water Qualitv Fund
The financial report for the Water Quality Fund reflects six billing cycles. A rate increase was
implemented for the storm water charge. Water Quality revenues are based on flat rates per
billing cycle; therefore, revenues are 26% higher than 2011 due to the rate increase as well as
additional utility accounts. About $69k in grant funding has been received. Staff is in the
process of reviewing all grants to make sure all reimbursements associated with 2012 expenses
have been submitted.
Authorized funding for the Boudin's Phase II, Arcadia and Brooksville Hills II (final) projects is
reflected in the capital improvements.
.
Transit Fund
All revenues for bus fares and state aid are reflected in the financial report for the Transit Fund.
Bus fares reflect a$20k refund to Metro Transit for 2011 transfer fares. Otherwise, bus fares
would be comparable to 2011.
The revenues received from the State of MN are about 1% lower in 2012 as compared to 2011.
Expenditures include the City's share of the improvements at Eagle Creek Transit Station.
Economic Development Authoritv Special Revenue Fund
Revenues reflect a grant received from Scott County CDA for the fiber network study as well as
a transfer of funds from the City's General Fund and interest earnings. Interest revenues are
significantly lower than budget due to declining interest rates.
Personnel, commissioner per diems, professional services (for broadband report and financial
analysis), Venture Fair set up costs and the National Business Incubation Association
membership comprise the majority of the total expenditures. In addition, startup costs incurred
in 2012 for the Technology Village Incubator were approximately $13,250. The remaining
startup costs will be incurred in 2013.
If you have any questions regarding these financial reports, please contact me at 952.447.9841.
Page 6
04 PRIp
,, City of Prior Lake
� � General Fund Summary
As of 12/31/2012
�NNfiS�' (preliminary 8� Unaudited) COMPARATIVE
Variance with Actual Variance
2012 2012 2012 Amended Budget - Percent of 12/31H1 from 2011
Budget Amended Actual Positive (Negative) Budget Actual Positive (Negative)
Revenues
Taxes 8,061,784 8,061,784 8,133,796 72,012 101% 8,457,867 (324,071)
Licenses and permits 350,266 350,266 640,584 290,318 183% 448,096 192,488
Intergovernmental 1,329,469 1,329,469 1,388,416 58,947 104% 1,382,026 6,390
Chargesforservices 1,514,462 1,550,262 1,716,455 166,193 111% 1,620,795 95,660
Fines and forteitures 155,000 155,000 159,198 4,198 103% 150,256 8,942
Interest on investments 190,000 190,000 197,812 7,812 104% 252,964 (55,152)
Other 58,392 58,392 297,914 239,522 510% 190,681 107,233
Transfers from other funds 335,000 335,000 335,000 - 100°/a 335,000 -
Total revenues 11,994,373 12,030,173 12,869,175 839,002 107% 72,837,685 37,490
Expenditures
General government 2,605,189 2,605,189 2,538,572 66,617 97% 2,307,163 (231,409)
Publicsafety 4,489,617 4,489,617 4,441,998 47,619 99% 4,367,903 (74,095)
Publicworks 1,756,808 1,797,148 1,718,934 78,214 96% 1,814,045 95,111
Culture & recreation 1,748,020 1,783,820 1,686,761 97,059 95% 1,781,373 94,612
Natural resources 121,958 121,958 128,712 (6,754) 106% 41,660 (87,052)
Urban & economic development 40,004 24,004 16,109 7,895 67% 85,578 69,469
Subtotal 10,761,596 10,821,736 10,531,086 290,650 97% 10,397,722 (133,364)
Transferstootherfunds 1,968,370 3,123,239 3,124,227 (988) 100% 1,768,123 (1,356,104)
Total expenditures 72,729,968 73,944,978 13,655,313 289,665 98% 12,165,845 (1,489,468)
Net change (735,595) (1,914,805) (786,138) 671,840
Page 1 0/ 12
04 rRt
�, � City of Prior Lake
� General Fund Revenues
As of 12/31 /2012
""N,,,�SO'`' (Preliminary & Unaudited)
Variance with
2012 2012 2012 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
Property taxes
31010 Current taxes 7,330,490 7,330,490 7,275,049 (55,441) 99%
31012 Market value credit aid - - 559 559 n/a
31020 Delinquent taxes - - 132,726 132,726 n/a
31040 Fiscal disparities 731,294 731,294 725,462 (5,832) 99%
8,061,784 8,061,784 8,133,796 72,012 101%
Licenses & permits
32100 Business licenses 650 650 1,150 500 177%
32110 Liquor licenses 56,750 56,750 67,670 10,920 119%
32160 Refuse haulers 3,325 3,325 3,600 275 108°/a
32161 Plumbing registrations 875 875 625 (250) 71 %
32170 Outdoor concert permits 1,500 1,500 1,550 50 103%
32180 Cigarette licenses 3,250 3,250 2,500 (750) 77%
32210 Building permits 237,625 237,625 451,318 213,693 190%
32215 Mechanical permits 20,133 20,133 49,804 29,671 247%
32230 Plumbing permits 17,658 17,658 45,148 27,490 256%
32231 Sewer/water inspection 2,500 2,500 11,354 8,854 454%
32240 Animal licenses 3,750 3,750 3,240 (510) 86%
32260 Burning permits 2,250 2,250 2,625 375 117% I
350,266 350,266 640,584 290,318 183%
Intergovernmental revenue
33160 Federal Aids/grants - - 7,741 7,741 n/a
33401 Local government aid 11,905 11,905 15,096 3,191 127%
33416 State aid - police training 8,246 8,246 7,638 (608) 93%
33417 State aid - fire training - - 4,200 4,200 n/a
33418 State road & bridge aid 240,000 240,000 268,116 28,116 112%
33420 State fire aid - ins premium 136,000 136,000 143,938 7,938 106%
33421 State police aid - ins premium 155,000 155,000 150,486 (4,514) 97%
33422 State aids & grants - - 9,918 9,918 n/a
33610 County/city aids & grants 12,690 12,690 15,610 2,920 123%
33620 Township fire & rescue aid 343,616 343,616 343,017 (599) 100%
33621 Liaison aid 42,012 42,012 42,656 644 102%
33631 Payment in lieu of taxes 380,000 380,000 380,000 - 100%
33700 Miscellaneous grants - - - - n/a
1, 329, 469 1, 329,469 1, 388,416 58, 947 104%
Charges for services
34103 Zoning & subdivision fees 7,810 7,810 17,149 9,339 220%
34104 Plan check fees 122,550 122,550 270,552 148,002 221%
34105 Sale of maps/publications 2,500 2,500 955 (1,545) 38%
34107 Assessment searches 400 400 500 100 125%
34109 Project admin/eng fees 376,000 376,000 361,000 (15,000) 96%
34203 AccidenUwarrant reports 300 300 948 648 316%
34303 Franchise fees 560,000 560,000 600,172 40,172 107%
34304 PEG access fees 36,000 36,000 32,683 (3,317) 91%
34731 Softball fees 28,000 28,000 28,486 486 102%
34735 Recreation program fees 56,000 56,000 48,042 (7,958) 86%
34740 Beach concessions 13,000 13,000 12,158 (842) 94%
34760 Facility rental 63,667 63,667 68,917 5,250 108%
34761 Studio/pavilion rental 15,000 15,000 12,068 (2,932) 80%
34762 Park shelter rental 7,000 7,000 9,489 2,489 136%
34765 Tower leases 197,235 197,235 197,305 70 100%
Page 2 of 12
O � PR[p
� City of Prior Lake
� � General Fund Revenues
As of 12/31 /2012
"'�N,�SO'`° (Preliminary & Unaudited)
Variance with
2012 2012 2012 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
34780 Park admission fees 29,000 29,000 18,789 (10,211) 65%
34783 City Contract Services - 35,800 37,242 1,442 104%
1,514,462 1,550,262 1,716,455 166,193 111 %
Fines & forfeitures
35101 County court fines 110,000 110,000 110,650 650 101%
35104 Prosecution restitution 45,000 45,000 48,548 3,548 108%
155,000 155,000 159,198 4,198 103%
Miscellaneous revenues
36102 County Assess. Collection - - 2,411 2,411 n/a
36210 Interest earnings 190,000 190,000 213,765 23,765 113%
36211 Developer agreements - - 100,503 100,503 n/a
36212 Miscellaneous revenue 32,392 32,392 162,446 130,054 502%
36225 Unrealized inv. Gain(loss) - - (15,953) (15,953) n/a
36230 Contributions & donations 26,000 26,000 32,554 6,554 125%
248,392 248,392 495,726 247,334 200%
Other financing sources
39203 Transfers from other funds 335,000 335,000 335,000 - 100%
335,000 335,000 335,000 - 100%
Total revenues 11,994,373 12,030,173 12,869,175 839,002 107%
I
Page 3 of 12
04 Px1o
,� City of Prior Lake
� � General Fund Expenditures
As of 12/31/2012
"'�So'`' (Preliminary 8 Unaudited)
Variance with
2012 2012 2012 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
General government
41110 Mayor & council 68,067 68,067 59,945 8,122 88%
41130 Ordinance 7,000 7,000 6,922 78 99%
41320 Administration 394,526 394,526 394,054 472 100%
41330 Boards & commissions 10,189 10,189 9,264 925 91%
41410 Elections 17,349 17,349 25,309 (7,960) 146%
41520 Finance 403,626 403,626 397,381 6,245 98%
41540 Internal auditing 28,200 28,200 26,240 1,960 93%
41550 Assessing 118,300 118,300 118,689 (389) 100%
41610 Legal 361,920 361,920 330,071 31,849 91 %
41820 Personnel 141,331 141,331 144,343 (3,012) 102%
41830 Communications 113,681 113,681 107,151 6,530 94%
41910 Community development 325,732 325,732 308,849 16,883 95%
41920 Technology 183,975 183,975 167,219 16,756 91 %
41940 Buildings & plant 431,293 431,293 443,135 (11,842) 103%
Total general government 2,605,189 2,605,189 2,538,572 66,617 97%
Public safety
42100 Police 3,186,812 3,186,812 3,118,637 68,175 98%
42200 Fire 807,684 807,684 831,297 (23,613) 103%
42400 Building inspection services 435,571 435,571 433,482 2,089 100%
42500 Emergency management 33,900 33,900 32,932 968 97%
42700 Animal control 25,650 25,650 25,650 - 100%
Totalpublicsafety 4,489,617 4,489,617 4,441,998 47,619 99%
Public works
43050 Engineering 327,994 368,334 356,597 11,737 97%
43100 Street 1,060,931 1,060,931 1,012,514 48,417 95%
43400 Central garage 367,883 367,883 349,823 18,060 95%
Total public works 1,756,808 1,797,148 1,718,934 78,214 96%
Culture/recreation
45100 Recreation 387,153 387,153 373,486 13,667 96%
45200 Parks 1,280,225 1,316,025 1,247,508 68,517 95%
45500 Libraries 80,642 80,642 65,767 14,875 82%
Total culture/recreation 1,748,020 1,783,820 1,686,761 97,059 95%
Natural resources
46100 Natural resources 121,958 121,958 128,712 (6,754) 106%
Total natural resources 121,958 121,958 128,712 (6,754) 106%
Urban & economic development
46500 Economic development 40,004 24,004 16,109 7,895 67%
Total urban/economic dev 40,004 24,004 16,109 7,895 67%
49303 Transfers to other funds 1,968,370 3,123,239 3,124,227 (988) 100%
Total expenditures 12,729,968 13,944,978 13,655,313 289,665 98%
Page 4 of 12
�'� Y �' O � City of Prior Lake
� � Debt Service Funds
As of 12/31 /2012
��Nn�s� (Preliminary � Unaudited) Variance with
2012 2012 Budget - Actual
Budget Actual Positive (Negative) Percent
Revenues
Property taxes
31010 Current taxes 1,072,340 1,084,580 12,240 101%
Special assessments
36101 City Assess Collections - 224,938 224,938 n/a
36102 Special assessments 415,000 363,664 (51,336) 88%
Miscellaneous revenues
36210 Interest earnings 55,000 64,376 9,376 117%
36225 Unrealized Investment Gain/(Loss) - (4,277) (4,277) n/a
Other financing sources
39203 Transfers from other funds 2,441,022 2,942,857 501,835 121%
39310 Bond Proceeds - 9,825,000 9,825,000 n/a
Total revenues 3,983,362 14,501,138 10,517,776 364%
Expenditures
Debt Service
601 Principal 4,558,609 3,845,000 713,609 84%
611 Interest - 1,725,541 (1,725,541) n/a
630 Otherexpenses - 3,091 (3,091) n/a
507 Bonding Costs - 143,613 (143,613) n/a
511 Bond DiscounU(Premium) - (162,606) 162,606 n/a
4,558,609 5,554,639 (996,030) 122%
Total expenditures 4,558,609 5,554,639 (996,030) 122%
Net change (575,247) 8,946,499
Page 5 of 12
�� p �` O � City of Prior Lake
� � Revolving Equipment Fund
As of 12/31 /2012
''nNNESO�° (Preliminary & Unaudited) Variance with
2072 2012 2012 Budget- Actual
Budget Amended Actual Positive (Negative) Percent
Revenues
Property taxes
31010 Current taxes 280,000 280,000 282,552 2,552 101 %
Miscellaneous revenues
36210 Interest earnings 36,917 36,917 39,724 2,807 108%
36225 Unrealized Investment Gain/(Loss) - - (3,132) (3,132) n/a
36230 Contributions & Donations - - 5,000 5,000 n/a
Other financing sources
39102 Sale of Property - - 17,420 17,420 n/a
39104 Forfeiture Property Sales - - 19,275 19,275 n/a
39203 Transfers from other funds 100,000 100,000 100,000 - 100%
Total revenues 416,917 416,917 460,839 43,922 111%
Expenditures
Public safety
42100 Police
450 Agency Forfeit Proceeds - - 9,399 (9,399) n/a
550 Motor Vehicles 28,840 28,840 26,405 2,435 92%
28 840 28 840 35,804 (6,964) 124%
42200 Fire & Rescue 65,300 65,300 66,928 (1,628) 102%
42400 Building Inspection 12,000 12,000 - 12,000 0%
Total public safety 106,140 106,140 102,732 3,408 97%
Public works
43100 Streets 143,994 170,037 263,255 (93,218) 183%
43400 Central garage 58,000 58,000 5,464 52,536 9%
Total public works 201,994 228,037 268,719 (40,682) 133%
Culture & recreation
45200 Parks 196,730 282,530 259,255 23,275 132%
Total culture & recreation 196,730 282,530 259,255 23,275 732%
Total expenditures 504,864 616,707 630,706 (13,999) 125%
Net change (87,947) (199,790) (169,867)
Page 6 of 12
� Y '� O � City of Prior Lake
� � Facilities Management Fund
As of 12/31 /2012
M�ESO�° (Preliminary 8� Unaudited) Variance with
2012 2012 Budget - Actual
Budget Actual Positive (Negative) Percent
Revenues
Miscellaneous revenues
36210 Interest earnings 5,557 17,606 12,049 317%
36212 Miscellaneous 167,699 167,699 - 100%
36225 Unrealized Investment Gain/(Loss - (1,504) (1,504) n/a
Other financing sources
39203 Transfers from other funds 185,000 485,000 300,000 262%
Total revenues 358,256 668,801 310,545 187%
Expenditures
Public safety
42200 Fire
505 Professional services 3,250 3,250 - 100%
520 Buildings & structures 151,250 59,250 92,000 39%
154,500 62,500 92,000 40%
Total public safety 154,500 62,500 92,000 40%
Public works
43400 Central garage
505 Professional services 600 600 - 100%
520 Buildings & structures 121,675 113,903 7,772 94%
5301mprovements 59,725 65,092 (5,367) 109%
182,000 179,595 2,405 99%
Total public works 182,000 179,595 2,405 99%
Culture & recreation
45100 Recreation
505 Professional services 7,250 7,233 17 100%
520 Buildings & structures 63,443 2,273 61,170 4%
70,693 9,506 61,187 13%
45500 Library
505 Professional services 7,250 7,233 17 100%
520 Buildings & structures 63,442 2,273 61,169 4%
70,692 9,506 61,186 13%
Total culture & recreation 141,385 19,012 122,373 13%
Total expenditures 477,885 261,107 216,778 55%
Net change (119,629) 407,694
Page 7 of 12
OF YR ��+P City of Prior Lake
� � Water Fund
As of 12/31/2012
, (Preliminary & Unaudited) COMPARATIV�
Variance with Variance
2012 2012 Budget - Actual 12/31/2011 from 2011
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - water
37100 Waterrevenues 2,423,337 2,994,393 571,056 124% 2,138,560 855,833
37110 Capital facility revenue 225,000 238,275 13,275 106% 234,665 3,610
37140 Door hanger charges - 18,575 18,575 n/a 20,750 (2,175)
37150 Waterreconnectcharges 4,500 4,240 (260) 94% 5,410 (1,170)
37160 Penalties 35,000 34,924 (76) 100% 30,226 4,698
37170 Watermeters 34,125 99,809 65,684 292% 62,975 36,834
37175 Pressure reducers 10,475 26,339 15,864 251% 11,755 14,584
37180 Frost plates - 8 8 n/a 60 (52)
37190 Misc revenue adjustments - (80) (80) n/a 679 (759)
Total water revenues 2,732,437 3,416,483 684,046 125% 2,505,080 911,403
Intergovernmental
33422 StateAids/Grants - 10,000 10,000 n/a 1,232 8,768
Total intergovermentai - 10,000 10,000 0% 1,232 8,768
Contri butions/tra nsfers
37901 Fromotherfunds - - 0% 39,140 (39,140)
Total contributions/transfers - - 0% 39,140 (39,140)
Miscellaneous revenues
362101nterestearnings 75,000 78,135 3,135 104% 141,642 (63,507)
36212 Miscellaneous - 674 674 n/a 72 602
36225 Unrealized inv. gain (loss) - (6,878) (6,878) n/a (12,450) 5,572
39205 Assets Contrib by Enterprise Fds - - n/a 47,454 (47,454)
39950 Prior period adjustment - - - Na 22� $2� �2z�,82��
Total miscellaneous revenues 75 000 71 931 (3,069) 96% 404,545 (332,614)
Total revenues 2,807,437 3,498,414 690,977 725% 2,949,997 548,417
Operating expenses
Personnel & current expenses
41520 Finance 82,418 73,477 8,941 89% 63,686 (9,791)
49400 Water 1,506,628 1,364,539 142,089 91% 2,051,480 686,941
Total operating expenses 1,589,046 1,438,016 151,030 90% 2,115,166 677,150
Capital improvements
49400 Waterimprovements 1,024,750 670,054 354,696 65% 625,597 (44,457)
Total capital improvements 1,024,750 670,054 354,696 65% 625,597 (44,457)
49303 Transfers to other funds 818,220 817,628 592 100% 782,610 (35,018)
Total expenses 3,432,076 2,925,698 506,318 85% 3,523,373 597,675
Net change (624,579) 572,716 (573,376) 1,146,092
Page 8 of 12
oF p '�OR City of Prior Lake
� �
� SewerFund
� As of 72/31/2012
.y„�,� (Preliminary & Unaudited) COMPARATIYE
Variance with Variance
2012 2012 Budget - Actual 12/31/2011 from 2011
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - sewer
37102 Sewerrevenues 1,119,670 1,077,143 (42,527) 96% 1,025,742 51,401
37104 MCES revenues 1,208,065 1,157,209 (50,856) 96% 938,626 218,583
37110 Capital facility revenue 225,000 238,275 13,275 106% 234,665 3,610
37160 Penalties 35 000 29 782 (5,218) 85% 29,914 (132)
Total sewer revenues 2 587,735 2 502 409 (85,326) 97% 2,228,947 273,462
Intergovernmental
33160 Federal Aids/Grants - - - n/a 7,260 (7,260)
33422 State Aids/Grants - - n/a 2,009 (2,009)
Total intergovermental - - - 0% 9,269 (9,269)
Miscellaneous revenues
362101nterestearnings 75,000 64,857 (10,143) 86% 98,771 (33,914)
36225 Unrealized inv. gain (loss) - (5,196) (5,196) n/a (11 819) 6,623
Total miscellaneous revenues 75 000 59 661 (15,339) 80% 86,952 (27,291)
Total revenues 2,662,735 2,562,070 (700,665) 96% 2,325,168 236,902
Operating expenses
Personnel & current expenses
41520 Finance 81,591 73,476 8,115 90% 66,040 (7,436)
49450 Sewer 2,204,687 1,929,930 274,757 88% 2,350,461 420,531
Total operating expenses 2,286,278 2,003,406 282,872 88% 2,416,501 413,095
Capitai improvements
49450 Sewer improvements 458 750 205 388 253,362 45% 257,595 52,207
Total capital improvements 458,750 205,388 253,362 45% 257,595 52,207
49303 Transfers to other funds 324,432 324,294 138 100% 310,559 (13,735)
Total expenses 3,069,460 2,533,088 536,372 83% 2,984,655 451,567
Net change (406,725) 28,982 (659,487) 688,469
Page 9 of 12
o� P '�O�e� City of Prior Lake
� Water Quality Fund
As of 12/31/2012
M �'IVfiS� F (Preliminary & Unaudited) :�= GOMPARATIVE
Variance
2012 2012 Variance with Actual 12/31/2011 from 2011
Budget Actual Positive (Negative) Percent Actuai Positive (Negative)
Operating revenues
Charges for services - storm water
37120 Water quality revenue 540,000 552,024 12,024 102% 438,638 113,386
37160 Penalties - 240 240 n/a - 240
Total water quality revenues 540,000 552,264 12,024 102% 438,638 113,626
Miscellaneous revenues
36210 Interest eamings 18,000 10,514 (7,486) 58% 18,198 (7,684)
36225 Unrealized Inv Gain (Loss) - (853) (853) n/a (1,210) 357
Total miscellaneous revenues 18 000 9,661 (8,339) 54% 16,988 (7,327)
Intergovernmental Revenue
33160 Federal Grants - 25,752 25,752 n/a - 25,752
33422 State Aid/Grants 100,000 - (100,000) 0% - -
33610 County & City Grants/Aids - - - n/a 194,713 (194,713)
33633 Watershed Dist Grants/Aids 40,000 43,697 3,697 109% - 43,697
Total intergovernmental revenues 140 000 69,449 (70,551) 50% 194 713 (125,264)
Totai revenues 698,000 631,374 (66,866) 90% 650,339 (18,965)
Operating expenses
Personnel & current expenses
49420 Waterquality 477,882 293,724 184,158 61% 467,979 174,255
Capital improvements I
49420 Water quality 225,700 276,602 (50,902) 123% 220,723 (55,879)
Total expenses 703 582 570,326 133,256 81% 688,702 118,376
Net change (5,582) 61,048 (38,363) 99,411
Page f0 of 12
Oti pR ��$ City of Prior Lake
F � Transit Fund
� `� As of 12/31I2012
�NtJE50S�' (Preliminary 8 Unaudited) -:: COMPARATIVE
Variance with Variance
2012 2012 Budget- Actual 12/31/2011 from 2011
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - transit revenue
38400 Bus fares 200,000 198,805 (1,195) 99% 219,305 (20,500)
38422 State transit aid 485,000 485,016 16 100% 491,657 (6,641)
Total transit revenues 685,000 683,821 (1,179) 100% 710,962 (27,141)
Miscellaneous revenues
362101nterestearnings 37,000 44,809 7,809 121% 76,388 (31,579)
36225 Unrealized inv. gain (loss) - (3,447) (3,447) n/a (8,348) 4,901
Total miscellaneous revenues 37,000 41,362 4,362 112% 68,040 (26,678)
Intergovernmental Revenue
33160 Federal Grants - - - n/a 60,000 (60,000)
Total intergovernmental revenues - - - n/a 60,000 (60,000)
Total revenues 722,000 725,183 3,183 100% 839,002 (113,819)
Operating expenses
Personnel & current expenses
49804 Transit services 851,204 804,365 46,839 94% 833,574 29,209
Capital improvements
49804 Capital improvements - 32,310 (32,310) n/a - (32,310)
Total expenses 851,204 836,675 14,529 98% 833,574 (3,101)
Net change (129,204) (171,492) 5,428 (116,920)
Page 11 of 12
0 P �' O � City of Prior Lake
� � Economic Development Authority Special Revenue Fund
As of 12/31/2012
h��" (Preliminary & Unaudited) Variance with
2012 Amended 2012 Budget - Actual
Budget Budget Actual Positive (Negative) Percent
Revenues
Intergovernmental revenues
33610 County/city aids & grants - 15,000 15,000 - 100%
Miscellaneous revenues
36210 Interest earnings 6,000 4,800 1,338 3,462 28%
36225 Unrealized investment gain/(loss) - - (22) 22 n/a
39203 Transfers from other funds - 29,250 29,250 - 100%
Total revenues 6,000 49,050 45,588 3,462 93%
Expenditures
Economic development
46500 Economic development 137,923 167,723 162,903 4,820 97%
46503 Tech village incubator - 13,250 13,250 - 100%
Total expenditures 137,923 180,973 176,153 4,820 97%
Net change (131,923) (131,923) (730,565)
I
Page 12 of 12