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Home My WebLink About5D 1st Qtr Financial Reports O � PRIp � � U � 4646 Dakota Street SE '�rN�so`��' Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: MAY 13, 2013 AGENDA #: 5D PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR PRESENTER: JERILYN ERICKSON AGENDA ITEM: CONSIDER APPROVAL OF THE 1ST QUARTER 2013 FINANCIAL REPORTS DISCUSSION: Introduction Staff has prepared preliminary summary financial reports (attached) as of March 31, 2013 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 the first three months of 2013. The reports are preliminary, unaudited and may change. The attached memorandum provides a summary of the significant issues. As requested by the City Council, comparative information has been included for the same period of the prior year. 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 March 31, 2013 Financial Report as submitted. 2. Take no action and provide the staff with specific direction. RECOMMENDED Alternative 1. MOTION: oF rxr MEMORANDUM � v � DATE: May 13, 2013 TO: Prior Lake City Council '�"^�5�``' FROM: Jerilyn Erickson, Finance Director RE: Financial Report dated 03/31/2013 The financial reports presented as part of this agenda item reflect activity during the first three months of 2013. The significant issues identified at this time are summarized below. General Fund Summarv Preliminary financial information reflects expenditures exceeding revenues by $1,008,000. This is to be expected since property tax revenues, which are the primary funding source for the General Fund, are not received until June. The 2013 budget anticipates a use of fund balance reserves in the amount of $691,000. Key points for the first quarter: • No property tax receipts until June; • Building permit activity is significantly higher than 2012; • Charges for services are slightly higher; ' • Fines and forfeiture revenues are about 7% lower; • Interest revenues are about 24% higher; and • Expenditures are slightly lower than 2012 due to the timing of transfers, vacant positions, etc. General Fund Revenues Property taxes are received in June and December. Revenues from taxes are recognized on a cash basis and not an accrual basis for the General Fund. Therefore, revenues will not be reflected in the financial reports until June. Single family building permits are budgeted at 150 for 2013. Building permit activity is significantly higher than first quarter 2012 and 2011 for single family homes as well as additions and alterations. The following table provides a breakdown of the first quarter activity by year: 2013 36 8 1 398 443 39% 2012 16 3 0 300 319 12% 2011 12 0 1 271 284 n/a The average value associated with the single family permits is $320k which is slightly lower than the average for all single family permits in 2012. The average value associated with the townhouse permits is $178k. As of May 6, 2013, forty-six (46) single family permits and fourteen (14) townhouse permits have been issued. The first half payments were received for Municipal State Aid (road maintenance) and the township fire agreements. First quarter Franchise fees and PEG fees collected in April have been included in this report. Fees are comparable to 2012. Page 2 Tower lease revenues reflect eight of thirteen agreements in place. Court fines are tracking about 15% lower than 2012. Interest earnings are at 26 percent of the budget. In years past, interest was recognized only when it was received. With the implementation of new investment software, staff is able to record interest on an accrual basis which more accurately reflects interest earnings. General Fund Expenditures General Fund expenditures for 2013 represent 18 percent of the $12,229,316 amended budget. The level of expenditures (as a percent of budget) is comparable for the same period during the past four years. Expenditures in general government and natural resources are lower than 1 Q 2012 due to multiple factors including vacant positions, etc. Public works, public safety and culture and recreation expenditures are higher in 1 Q2012 due to labor agreements, legal expenses, etc. Transfer to other funds is at $23k for a transfer authorized to the EDA as part of a budget amendment approved in January. In 2012, transfers were made to the Facilities Management Fund and the Capital Park Fund. Those transfers were eliminated from the 2013 budget. At this point in the year, there are no other significant variances to report. Costs associated with street and park maintenance and recreation programs are incurred during the summer and fall. Debt Service Funds Property taxes and special assessments are received in June, December and January (final tax settlement). Several prepayments have been received for special assessments. Interest earnings are at 37% of the budget. The General Obligation Improvement Bond 2005C (Fish Point Road) was paid off in January, 2013 using reserves from the corresponding debt service fund and as well as a transfer of General Fund reserves that was authorized in 2012. One regularly scheduled bond payment was made in February. The majority of bond payments are due on the 1 and 15 of June and December. Revolvinp Equipment Fund Property taxes are received in June, December and January (final tax settlement). Vehicle and equipment purchases were approved at the April 8� and 22nd council meetings; therefore, the expenditures won't be reflected on the 1 Q report. Facilities Manaqement Fund The Council authorized a$300,000 transfer from the General Fund in December, 2012 to prefund the 2013 and 2014 scheduled contributions. Transfers shown for 2013 are from the Water Fund and Sewer Fund. Expenditures reflect costs associated with the Club Prior/library HVAC repairs and upgrades which were started in 2012 but will be completed in 2013. Staff anticipates bringing forth a housekeeping amendment within the next month to reflect this carry forward of funding from 2012 to 2013. Water Fund The financial report for the Water Fund reflects only one billing cycle and water revenues are about 4% higher than the same period in 2012. Water rates were increased effective January 1, 2013. Consumption was 3% lower than 1 Q 2012. Page 3 Expenditures are slightly higher than 1 Q 2012. Capital expenditures reflect the costs associated with upgrading the Data Collection Units (DCU) for the meter reading software. Costs associated with capital improvements are typically incurred during the summer and fall. Sewer Fund The financial report for the Sewer Fund reflects only one billing cycle. City sewer and MCES sewer revenues are each about 3.5% lower than the same period in 2012. The MCES sewer rate and City sewer rate were increased effective January 1, 2013. In addition, consumption was about 6% lower than 1 Q 2012. Expenditures are slightly higher than 1 Q 2012. Capital expenditures reflect the costs associated with upgrading the Data Collection Units (DCU) for the meter reading software. Costs associated with capital improvements are typically incurred during the summer and fall. Water Qualitv Fund The financial report for the Water Quality Fund reflects only one billing cycle and is about 28% higher than the same period in 2012. The storm water rate was increased effective January 1, 2013. In addition, about 145 utility accounts were added. Expenditures are higher than 1 Q 2012 primarily due to personnel costs. Two positions that were vacated at the end of 2011 were not filled until 2Q 2012. Transit Fund First quarter bus fares and state aid received through April are reflected in the financial report for the Transit Fund. Bus fares are comparable to the same period in 2012. State transit aid revenue is about $56k higher than 1 Q2012. Current funding levels were restored in July 2012. Expenditures are higher than 1 Q 2012 primarily due to the timing of payments. Economic Development Authoritv Special Revenue Fund Property taxes are received in June, December and January (final tax settlement). The EDA budget was amended on January 28, 2013 to complete the City of Prior Lake Technology Village Business Incubator. An amendment was originally approved in 2012 but not all purchases were made by yearend. The remaining funds were re-appropriated in 2013. Personnel, commissioner per diems, legal and Technology Village Business Incubator expenditures comprise the majority of the expenditures. If you have any questions regarding these financial reports, please contact me at 952.447.9841. Page 4 04 PRtp ,, ` City of Prior Lake � � General Fund Summary �� As of 03/31/2013 COMPARATIVE ' (Preliminary & Unaudited) Vartance with Actuai Variance 2013 2073 2073 Amended Budget - Percent of 3/37/2012 from 2012 Budget Amended Actual Positive (Negative) Budget Actual Positive �Negative) Revenues Taxes 7,151,439 7,151,439 - (7,151,439) 0°h - - Licenses and permits 512,020 512,020 137,343 (374,677) 27% 77,784 59,549 Intergovemmental 1,402,721 1,402,721 422,414 (980,307) 30% 421,977 437 Charges for services 1,626,448 1,626,448 429,517 (1,196,931) 26% 405,043 24,474 Fines and forfeiiures 155,000 155,000 41,461 (113,539) 27% 44,740 (3,279) Interestoninvestments 181,000 181,000 47,488 (133,512) 26% 38,429 9,059 Other 131,000 131,000 30,742 (100,258) 23% 25,811 4,931 Transfersfromotherfunds 341,700 341,700 85,425 (256,275) 25% 83,750 1,675 Totai revenues 71 501 328 71 501 328 1 194 390 (70,306,938) 10% 7 097 544 96,846 Expenditures General government 2,573,630 2,573,630 514,011 2,059,619 20% 525,112 11,101 Publicsafety 4,681,978 4,681,978 1,051,365 3,630,613 22% 975,583 (75,782) Publicworks 1,878,397 1,878,397 324,608 1,553,789 17% 277,856 (46,752) Culture & recreation 1,746,982 1,746,982 281,436 1,465,546 16% 270,931 (10,505) Natural resources 142,383 142,383 8,537 133,846 6% 23,628 15,091 Subtotal 11,023,370 11,023,370 2,179,957 8,843,413 20% 2,073,110 (106,847) Transferstootherfunds 1,168,947 1,205,947 22,690 1,183,257 2% 216,000 193,310 Total expenditures 12 192 316 12 228 316 2 202 647 10,026,669 18% 2 289,110 86,463 Net change (690 988) (727,988) (1,008,257) (1,197,566) Page 1 of 12 04 Y1tIp � � City of Prior Lake � General Fund Revenues As of 03/31/2013 "`�N,�d`" (Preliminary & Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual Budget Amended Actual Positive (Negative) Percent Property taxes 31010 Current taxes 6,506,012 6,506,012 - (6,506,012) 0% I 31040 Fiscal disparities 645,427 645 427 - (645,427) 0°/a � 7 151 439 7151 439 - (7,151,439) 0% i Licenses & permits ��, 32100 Business licenses 1,050 1,050 1,100 50 105% 32110 Liquor licenses 67,870 67,870 225 (67,645) 0% I 32160 Refuse haulers 3,600 3,600 - (3,600) 0% 32161 Plumbing registrations 875 875 625 (250) 71% 32170 Outdoor concert permits 1,150 1,150 400 (750) 35% 32180 Cigarette licenses 2,500 2,500 2,250 (250) 90°/a , 32210 Building permits 369,250 369,250 104,039 (265,211) 28% 32215 Mechanical permits 29,850 29,850 12,201 (17,649) 41% 32230 Plumbing permits 27,375 27,375 10,957 (16,418) 40% 32231 Sewedwater inspection 2,500 2,500 2,266 (234) 91% 32240 Animal licenses 3,750 3,750 2,655 (1,095) 71% 32260 Burning permits 2 250 2 250 625 (1,625) 28% 512 020 512,020 137 343 (374,677) 27% Intergovernmental revenue 33160 Federal Aids/grants 1,500 1,500 - (1,500) 0% 33401 Local government aid 11,905 11,905 - (11,905) 0% 33416 State aid - police training 8,246 8,246 - (8,246) 0% 33418 State road & bridge aid 260,000 260,000 138,361 (121,639) 53% 33420 State fire aid - ins premium 143,000 143,000 3,000 (140,000) 2% 33421 State police aid - ins premium 155,000 155,000 - (155,000) 0% 33610 County/city aids & grants 17,664 17,664 - (17,664) 0% 33620 Township fire & rescue aid 362,106 362,106 181,053 (181,053) 50% 33621 Liaison aid 43,300 43,300 - (43,300) 0% 33631 Payment in lieu of taxes 400 000 400,000 100,000 (300,000) 25% 1 402 721 1 402 721 422 414 (980,307) 30% Charges for services 34103 Zoning & subdivision fees 7,810 7,810 4,650 (3,160) 60% 34104 Plan check fees 214,250 214,250 65,193 (149,057) 30% ; 34105 Sale of maps/publications 2,500 2,500 113 (2,387) 5% � � 34107 Assessment searches 400 400 40 (360) 10% I 34109 Project admin/eng fees 376,000 376,000 40,000 (336,000) 11 % I 34203 Accident/warrant reports 300 300 309 9 103°/a 34303 Franchisefees 571,700 571,700 143,310 (428,390) 25% 34304 PEG access fees 31,000 31,000 8,347 (22,653) 27% 34731 Softball fees 28,000 28,000 26,745 (1,255) 96% 34735 Recreation program fees 56,000 56,000 2,003 (53,997) 4% 34740 Beach concessions 750 750 1,473 723 196% 34760 Facility rental 70,252 70,252 17,494 (52,758) 25% 34761 Studio/pavilion rental 15,000 15,000 2,950 (12,050) 20% 34762 Park shelter rental 7,000 7,000 761 (6,239) 11% 34765 Tower leases 199,986 199,986 116,129 (83,857) 58% 34780 Park admission fees 19,000 19,000 - (19,000) 0% 34783 City Contract Services 26 500 26 500 - (26,500) 0% 1 626 448 1 626 448 429 517 (1,196,931) 26% Page 2 0(12 og rxto� F � Ciry of Prior Lake � General Fund Revenues As of 03/31 /2013 ""^�5�`'' (Preliminary & Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual Budget Amended Actual Positive (Negative) Percent Fines & forfeitures 35101 County court fines 110,000 110,000 29,496 (80,504) 27% 35104 Prosecution restitution 45,000 45,000 11,965 (33,035) 27% 155 000 155,000 41,461 (113,539) 27% Miscellaneous revenues 36210 Interest earnings 181,000 181,000 47,488 (133,512) 26% 36211 Developer agreements 55,000 55,000 20,000 (35,000) 36% 36212 Miscellaneous revenue 65,000 65,000 9,942 (55,058) 15% 36230 Contributions & donations 11,000 11,000 800 (10,200) 7% 312,�00 312,000 78,230 (233,770) 25% Other financing sources 39203 Transfers from other funds 341,700 341,700 85,425 (256,275) 25°/a 341,700 341,700 85,425 (256,275) 25% Total revenues 11,501,328 11,501,328 1,194,390 (10,306,938) 10% � � � I � I � I � � � I Page 3 0/ 12 � PRlp ,,° � City of Prior Lake li � � General Fund Expenditures As of 03/31I2013 "'�6�` (Preliminary & Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual � Budget Amended Actual Positive (Negative) Percent i Generai government 41110 Mayor & council 62,168 62,168 16,669 45,499 27% , 41130 Ordinance 6,000 6,000 836 5,164 14% 41320 Administration 399,916 399,916 94,034 305,882 24°/a 41330 Boards & commissions 9,989 9,989 2,368 7,621 24% 41520 Finance 416,649 416,649 96,105 320,544 23% 41540 internal auditing 25,000 25,000 2,490 22,510 10% 41550 Assessing 118,800 118,800 - 118,800 0% 41610 Legal 317,780 317,780 84,147 233,633 26% I 41820 Personnel 145,807 145,807 30,337 115,470 21 % % 41830 Communications 117,951 117,951 26,201 91,750 22% 41910 Community development 338,301 338,301 76,061 262,240 22% 41920 Technology 179,757 179,757 38,514 141,243 21% 41940 Buildings & plant 435,512 435,512 46,249 389,263 11 % Total general government 2,573,630 2,573,630 514,011 2,059,619 20% Public safety 42100 Police 3,282,062 3,282,062 779,435 2,502,627 24% 42200 Fire 857,539 857,539 157,124 700,415 18% 42400 Building inspection services 510,427 510,427 109,991 400,436 22% 42500 Emergency management 5,500 5,500 540 4,960 10% 42700 Animal control 26,450 26,450 4,275 22,175 16% Total publicsafety 4,681,978 4,681,978 1,051,365 3,630,613 22% Public works 43050 Engineering 336,917 336,917 72,174 264,743 21°/a 43100 Street 1,171,354 1,171,354 184,385 986,969 16% 43400 Central garage 370,126 370,126 68,049 302,077 18% Total publicworks 1,878,397 1,878,397 324,608 1,553,789 17% Culture/recreation 45100 Recreation 381,655 381,655 74,859 306,796 20% 45200 Parks 1,292,447 1,292,447 188,640 1,103,807 15% 45500 Libraries 72,880 72,880 17,937 54,943 25% Total cuiture/recreation 1,746,982 1,746,982 281,436 1,465,546 16% Natural resources 46100 Natural resources 142,383 142,383 8,537 133,846 6% Total natural resources 142,383 142,383 8,537 133,846 6% 49303 Transferstootherfunds 1,168,947 1,205,947 22,690 1,183,257 2% Total expenditures 12,192,316 12,229,316 2,202,647 10,026,669 18% Page 4 of 12 0 p �' O �� City of Prior Lake � Debt Service Funds As of 03/31/2013 M �NNE5 0 �� (Preliminary & Unaudited) Variance with 2013 2013 Budget - Actual Budget Actual Posltive (Negative) Percent Revenues Property taxes 31010 Currenttaxes 1,832,685 - (1,832,685) 0% Special assessments 36101 Ciry Assess Collections - 8,896 8,896 n/a 36102 Special assessments 407,128 - (407,128) 0% Miscellaneous revenues 36210 Interest earnings 23,490 8,636 (14,854) 37% Other financing sources 39203 Transfers from otherfunds 1,878,640 - (1,878,640) 0% Total revenues 4,141,943 17,532 (4,124,471) 0% Expenditures Debt Service 601 Principal 12,745,000 895,000 11,850,000 7% 611 Interest 1,607,210 15,352 1,591,858 1% 630 Other expenses 6,100 3,938 2,162 65% 14,358,310 914,290 13,444,020 6% Total expenditures 14,358,310 914,290 13,444,020 6% Net change (10,216,367) (896,758) Page 5 of 12 0 p �' O � City of Prior Lake � � Revolving Equipment Fund As of 03/31/2013 M�N�.,�g�° (Preliminary & Unaudited) Variance with 2013 2013 Budget - Actual Budget Actual Positive (Negative) Percent Revenues Property taxes 31010 Current taxes 280,000 - (280,000) 0% Miscellaneous revenues 36210 Interest earnings 19,732 10,016 (9,716) 51 % Other financing sources 39104 ForFeiture Property Sales - 245 245 n/a 39203 Transfers from other funds 110,000 27,500 (82,500) 25% Totalrevenues 409,732 37,761 (371,971) 9% Expenditures Public safety 42100 Police 450 Agency Forteit Proceeds - 74 (74) n/a � 550 Motor Vehicles 56,000 - 56,000 0% 56,000 74 55,926 0% 42200 Fire & Rescue 150,000 - 150,000 0% Total public safety 206,000 74 205,926 0°/a I i I Pubiic works ; 43100 Streets 550 Motor Vehicles 36,601 - 36,601 0% 580 General Equipment 50,712 31,163 19,549 61% i 43400 Central garage 15,000 - 15,000 0% �I Total public works 102,313 31,163 71,150 30% Culture & recreation 45200 Parks 550 Motor Vehicles 99,194 - 99,194 0% 580 General Equipment 31,827 - 31,827 0% ; Total culture & recreation 131,021 - 131,021 0°/a i � Sewer Utility ! 580 General Equipment 49,862 - 49,862 0% I Total expenditures 489,196 31,237 457,959 6% i Net change (79,464) 6,524 ! Page 6 of 12 0 p �` O �� City of Prior Lake � Facilities Management Fund As of 03/3112013 M �NNES�� (Preliminary & Unaudited) Variance with 2013 2013 Budget - Actual Budget Actual Positive (Negative) Percent Revenues Miscellaneous revenues 36210 Interest earnings 3,164 4,724 1,560 149% Other financing sources 39203 Transfers from other funds 40,000 10,000 (30,000) 25% Total revenues 43,164 14,724 (28,440) 34°/a Expenditures Public safety 42200 Fire 520 Buildings & structures 136,500 - 136,500 0% 136,500 - 136,500 0% Total public safety 136,500 - 136,500 0% Public works � 43400 Central garage I 520 Buildings & structures 214,302 - 214,302 0% ; 214,302 - 214,302 0% i � Totai public works 214,302 - 214,302 0% ',, Culture & recreation 45100 Recreation 505 Professional services - 899 (899) n/a I 520 Buildings & structures 48,536 26,562 21,974 55% 48,536 27,461 21,075 57% 45500 Library 505 Professional services - 899 (899) n/a 520 Buildings & structures 48,536 26,656 21,880 55% , 48,536 27,555 20,981 57% I I Total culture & recreation 97,072 55,016 42,056 57% �I I Total expenditures 447,874 55,016 392,858 12% I Net change (404,710) (40,292) ' i � i Page 7 of 12 i i I 0 p ��JP Clty of Prior Lake �', � � Water Fund I As of 03/31/2013 ; , (Preliminary 8� Unaudited) , �-COMPARATIVE . �-: _ Variance with Variance � 2013 2013 Budget- Actual 3l31/2012 from2012 ', Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues I Charges for services - water I 37100 Waterrevenues 2,616,817 290,487 (2,326,330) 11% 279,118 11,369 ! 37110 Capital facility revenue 234,000 40,343 (193,657) 17% 39,615 728 37140 Door hanger charges - 6,775 6,775 n/a 5,900 875 i 37150 Waterreconnectcharges 4,500 1,170 (3,330) 26% 800 270 , 37160 Penalties 35,000 3,664 (31,336) 10°/a 3,895 (231) I 37170 Water meters 50,375 24,737 (25,638) 49% 13,423 11,314 � 37175 Pressure reducers 14,875 6,227 (8,748) 42% 3,520 2,707 : 37180 Frost plates - 8 8 n/a 8 - ' 37190 Misc revenue adjustments - 11 11 n/a 7 4 �� Total water revenues 2 955,667 373 422 (2,582,245) 13% 346,386 27,036 i Miscellaneous revenues ' 36210 lnterest earnings 50,000 22,582 (27,418) 45% 13,515 9,067 36212 Miscellaneous 1,677 1,677 n/a 1,110 567 ' Total miscellaneous revenues 50 000 24,259 (25,741) 49% 14,625 9,634 Total revenues 3,005,667 397,681 (2,607,986) 13°h 361,011 36,670 Operating expenses Personnel & current expenses 41520 Finance 79,515 19,807 59,708 25% 16,776 (3,031) 49400 Water 1 528,631 285,312 1,243,319 19% , 266,852 (18,460) Total operating expenses 1,608,146 305,119 1,303,027 19°k 283,628 (21,491) Capital improvements 49400 Water improvements 895,277 32,830 862,447 4% - (32,830) Total capital improvements 895,277 32,830 862,447 4% - (32,830) 49303 Transfers to other funds 845,746 63,962 781,784 8% 60,625 (3,337) i Total expenses 3,349,169 401,811 2,947,258 12% 344,253 (57,658y Net change (343,502) (4,230) 16,758 (2Q988) I I I I I I I I I I I Page 8 0/ 12 I o� p '� O � City of Prior Lake �� Sewer Fund : � As of 03/31/2013 .y,,,,� (Preliminary 8 Unaudited) 'COMPARATIYE _, Variance with Variance 2013 2013 Budget - Actual 3/31/2092 from 2012 Budget Actual Posittve (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - sewer 37102 Sewerrevenues 1,755,028 161,960 (993,068) 14% 167,700 (5,740) 37104 MCES revenues 1,243,423 173,562 (1,069,861) 14% 179,856 (6,294) 37110 Capital facility revenue 234,000 40,343 (193,657) 17% 39,675 728 37160 Penalties 35,000 4,290 (30,710) 12% 4,520 (230) Totai sewer revenues 2,667 451 380,155 (2,287,296) 14% 391,691 (11,536) Miscellaneous revenues 36210 Interest eamings 50,000 16,913 (33,087) 34% 12,379 4,534 Total miscellaneous revenues 50,000 16,913 (33,087) 34% 12,379 4,534 Total revenues 2,717,451 397,068 (2,320,383) 15% 404,070 (7,002) Operating expenses Personnel & current expenses 41520 Finance 79,515 19,807 59,708 25% 16,776 (3,031) 49450 Sewer 2214425 557,537 1,656,888 25% 496,390 (61,147) Total operating expenses 2,293,940 577,344 1,716,596 25% 513,166 (64,178) Capital improvements 49450 Sewarimprovements 295,565 74,070 281,495 5% - (14,070) Total capital improvements 295,565 14,070 281,495 5% - (14,070) 49303 Transfers to other funds 328,957 58,962 269,995 18% 56,875 (2,087) Total expenses 2,918,462 650,376 2,268,086 22% 570,041 (80,335) Netchange �201,017) (253,308) (165,971) (87,337) . I Page 9 of 12 � � 0 p'�OR City of Prior Lake �� Water Quality Fund � As of 03131/2013 '�M�g�* (Preliminary & Unaudited) COMPARATIVE Variance 2013 2013 Variance with Actual 3/37/2012 from 2012 Budget Actual Positiv (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - storm water 37120 Water quality revenue 677 295 128 817 (548,478) 19% 101,364 27,453 Total water quality revenues 677,295 128,817 (548,478) 19% 101,364 27,453 Miscellaneous revenues 36210 Interest earnings 7 016 2 012 (5 004) 29% 1,976 36 Total miscellaneous revenues 7 016 2 012 (5,004) 29% 1,976 36 Intergovernmental Revenue 33422 State Aid/Grants 50,000 - (50,000) 0% - - 33633 Watershed Dist GrantslAids - - n/a 35,666 (35,666) Total intergovernmental revenues 50 000 - (50,000) 0% 35,666 (35,666) Total revenues 734 311 130 829 (603,482) 18% 139,U06 (8,177) Operating expenses Personnel & current expenses 49420 Waterquality 541,373 78,502 462,871 15% 42,200 (36,302) Capital improvements 49420 Water quality 645,000 - 645,000 0% - - Total expenses 1 186 373 78 502 1,107,871 7% 42,200 (36,302) Net change (452,062) 52,327 96,806 (44,479) ! Page 10 of 12 I p4 pR1piP City of Prior Lake � � Transit Fund As of 03f3112013 ,,, (Preliminary & Unaudited) COMPARATIVE -:;. Variance with Variance 2013 2013 Budget- Actual 313112012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - transit revenue 36400 Busfares 220,500 57,043 (163,457) 26% 55,162 1,881 38422 State transit aid 627,738 149,505 (478,233) 24% 93,003 56,502 Total transit revenues 848 238 206 548 (641,690) 24% 148,165 58,383 Miscellaneous revenues 362101nterestearnings 33,000 11,759 (21,241) 36% 9,129 2,630 36225 Unrealized inv. gain (loss) - - - n/a - - Totai miscellaneous revenues 33 000 91 759 (21,241) 36% 9,129 2,630 Total revenues 881 238 218 307 (662,931) 25% 157,294 61,013 Operating expenses Personnel & current expenses 49804 Transit services 860,046 211,803 648,243 25% 183,830 (27,973) Capital improvements 49804 Capital improvements 267,000 - 267,000 0% - - Total expenses 1 127 046 211 803 915,243 19% 183,830 (27,973) Net change (245,808) 6,504 (26,536) 33,040 Page 110(12 o p '� O � City of Prior Lake � � Economic Development Authority Special Revenue Fund As of 03l31 /2013 �NNis�� (Preliminary & Unaudited) Variance with 2073 2013 2013 Budget- Actual Budget Amended Actual Positive (Negative) Percent Revenues Property taxes 31010 Current taxes 150,000 150,000 - (150,000) 0% � Miscellaneous revenues 34760 Facility Rentals 2,700 2,700 262 (2,438) � 10°/a 3�000c Loan Administration 2,000 2,000 - (2,000) 36210 Interest earnings - - 1 1 n/a 39203 Transfers from other funds - 37,000 22,690 (14,310) 61 % 7otal revenues 154,700 191,700 22,953 (168,747) 12% Expenditures Economic development 46500 Economic development 151,684 151,684 18,797 132,887 12% 46503 Tech village incubator - 37,000 22,690 14,310 61% Total expenditures 151,684 188,684 41,487 747,197 22% Net change 3,016 3,016 (18,534) Page 12 of 12