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Home My WebLink About5B 2013 2nd Qtr Financial Report O � PRip� � � U t1y 4646 Dakota Street SE '�i� Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: AUGUST 12, 2013 AGENDA #: 56 PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR PRESENTER: JERILYN ERICKSON AGENDA ITEM: CONSIDER APPROVAL OF THE 2ND QUARTER 2013 FINANCIAL REPORTS DISCUSSION: Introduction Staff has prepared preliminary summary financial reports (attached) as of June 30, 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 half 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 June 30, 2013 Financial Report as submitted. 2. Take no action and provide the staff with specific direction. RECOMMENDED Alternative 1. MOTION: 04 P , uo � MEMORANDUM � � DATE: August 12, 2013 TO: Prior Lake City Council � FROM: Jerilyn Erickson, Finance Director RE: Financial Report dated 06/30/2013 The financial reports presented as part of this agenda item reflect activity during the first half of 2013. The significant issues identified at this time are summarized below. � General Fund Summarv Key points for the second quarter: • Preliminary financial information reflects revenues exceeding expenditures by $698,000. • First half property tax collection rates are slightly higher for current and fiscal disparities and lower for delinquent collections; • Building permit activity is at 71 % of budgeted activity; • Charges for services are stightly higher due to plan check fees; • Fines and forfeiture fees are slightly lower; • Interest revenues are significantly lower when factoring in the impact of the fair value of investments adjustment; and • Expenditure activity as a percent of budget is comparable with 2012. The 2013 original and amended budget anticipate a use of fund balance reserves in the amounts of $691 k and $831 k, respectively. General Fund Revenues Property taxes were received in June. Revenues from taxes are recognized on a cash basis and not an accrual basis for the General Fund. First half current taxes cotlected are slightly higher than previous years (51 % vs. 50%). Fiscal disparity collections are slightly higher than 2012 also. Delinquent tax collections are lower primarily because overall tax receivables at yearend 2012 were lower. , , Single family buitding permits are budgeted at 150 for 2013. Building permit activity is ' significantly higher than the first six months of 2012 and 2011 for single family homes as well as ' additions and alterations. The following table provides a breakdown of the first six months of activity by year: 2013 73 27 1 1,042 1,143 15% 2012 61 5 0 924 990 27% 2011 38 0 0 739 777 n/a The average value associated with the single family permits is $328k which is slightly lower than the average for all single family permits in 2012. The average value associated with the townhouse permits is $176k. As of July 30, 2013, eighty-seven (87) single family permits and thirty (30) townhouse permits have been issued. Half of the Municipal State Aid (MSA) for road maintenance and township fire agreement revenues were received. A second partial MSA payment was received in July. Total MSA payments are anticipated to be $16k higher than budget. Page 2 Second quarter Franchise fees and PEG fees collected in July and August have been included in this report. Fees are slightly higher compared to 2012 when excluding the additional fees collected in 2012 from Mediacom for the 2007-2009 audit periods. Tower lease revenues reflect ten of thirteen agreements in place. Court fines and prosecution restitution revenues are tracking slightly lower than 2012. Interest earnings are at 31 percent of the budget and are lower than 2012. In years past, interest earnings were adjusted only at year end to reflect the fair value of the securities. With the implementation of investment software, an adjustment is now being made on a monthly basis. As rates have started to increase, the market value of the existing securities will decline. As of December 31, 2012, the market value of the total portfolio exceeded the cost of the investments by $457k. As of June 30, 2013, the market value of the portfolio is less than the cost of the investments by $169k. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. The City holds its investments until maturity; therefore, an actual loss is never realized. General Fund Exaenditures General Fund expenditures for 2013 represent 42 percent of the $12,332,384 amended budget. The level of expenditures (in total) is comparable for the same period during the past two years. General categories vary in how they are impacted from staff vacancies, status of projects, etc. Transfer to other funds is about $200k lower due to two transfers authorized in 2012 but not in 2013 to the Facilities Management Fund and the Park Equipment Revolving Fund. , 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 49% of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Bond payments were made in February and June. In addition, 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. Revolvina Equipment Fund ' Property taxes, the primary funding source, were received in June. Interest earnings are at 61 % of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Vehicle and equipment purchases were approved at the April 8th and 22nd council meetings of which some, but not all, of the expenditures are reflected on this report. Police vehicle purchases were authorized on July 8; therefore, the expenditures will show up on future reports. The process for refurbishment of the 1993 Peterbilt fire truck (estimated $150k) will commence in August. Staff anticipates that the refurbishment will be completed before the end of the year. Page 3 Facilities Mana�ement 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. Interest earnings are at 172% of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Expenditures reflect costs associated with the Club Prior/library HVAC repairs and upgrades which were started in 2012 but will be completed in 2013. The Council approved a budget amendment to carry forward the funding for this project. Two other major repair projects are expected to be completed in conjunction with the Guaranteed Energy Savings Program (GESP). They include 1) Fire Station #1 — HVAC, DDC Controls, etc -$136,500.; and 2) Maintenance Center — DDC Controls -$214,302. Staff will be issuing a Request for Proposal for selecting a vendor within the next couple of weeks. Upon selection of a vendor, an energy audit will be completed. Upon receipt of the audit results, staff will determine the process and timing for moving forward with these finro projects. Water Fund The financial report for the Water Fund reflects three billing cycles and water revenues are about 2% higher than the same period in 2012. Water rates were increased effective January 1, 2013. Consumption was 5% lower. Interest earnings are at 55% of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Operating expenditures and transfers are comparable to the same period in 2012. Capital improvements reflect the Water Fund's contribution of $600k to the Welcome Avenue project and $61 k to the CR12 project. Other capital improvement costs are typically incurred during the summer and fall. Sewer Fund The financial report for the Sewer Fund reflects three billing cycles and sewer revenues are about 2% lower than the same period in 2012. The MCES and City sewer rates were increased effective January 1, 2013. Consumption was about 4% lower. i Interest earnings are at 42% of the budget. The change in the fair value of the securities is I adjusted against interest earnings and is allocated to each fund based on cash balances. Expenditures are slightly lower than the same period in 2012. Capital improvements reflect the Sewer Fund's contribution of $26k to the CR12 project. Other capital improvement costs are typically incurred during the summer and fall. Water Qualitv Fund The financial report for the Water Quality Fund reflects three billing cycles and water quality revenues are about 27% higher than the same period in 2012. The storm water rate was increased effective January 1, 2013. Federal grant funds were received for the Iron Enhanced Sand Filter project. Interest earnings are at 40% of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Page 4 Operating expenditures are higher than first half of 2012 due in part to staff vacancies in 2012 as well as the timing of projects. Capital improvements reflect the Water Quality Fund's contribution of $207k to the Welcome Avenue project. Other capital improvement costs are typically incurred during the summer and fall. Transit Fund First and second quarter bus fares and state aid received through August are reflected in the financial report for the Transit Fund. Bus fares are slightly higher than the same period in 2012. State transit aid revenue is about $113k higher than first half 2012. Current funding levels were restored in July. ; Interest earnings are at 43% of the budget. The change in the fair value of the securities is adjusted against interest earnings and is allocated to each fund based on cash balances. Operating expenditures are comparable to first half 2012. The status of capital improvements is as follows: • The Marshall Road Transit Station repair project ($201,000) is underway, and likely to be completed late 2013 or early 2014. It is within budget, but we have not received any invoices at this time. Most likely, our share will be covered by regional funds from the Met Council. • CMAQ Bus Purchase ($50,000) - The bus has not been ordered yet, and probably won't I be until later this year. Once ordered, it will take 9 months to a year to arrive. • Southbridge Sealcoat ($16,000) - This project was to be done at the end of June, but was delayed because of weather. It witl be completed by the end of the summer. Economic Develoament Authoritv Sqecial Revenue Fund Property taxes are received in June, December and January (final tax settlement). Facility rental payments have been received from Design-a-tivity and Innovative Computer for the Technology Village Business Incubator. Transfers reflect the funding provided by the General Fund for the Technology Village Business Incubator set up costs. 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 5 O � PRlp� ,, City of Prior Lake � � General Fund Summary As of 06/30/2013 `'h��" (Preliminary & Unaudited) �� Variance with Actual Varlance 2013 2073 2073 Amended Budget - Percent of 06/30/2012 from 2072 Budget Amended Actual Positive (Negative) Budget Actual Positive (Negative) Revenues Taxes 7,151,439 7,151,439 3,761,187 (3,390,252) 53% 4,187,683 (426,496) Licenses and permits 512,020 512,020 433,662 (78,358) 85% 303,867 129,795 Intergovemmental 1,402,721 1,402,721 544,064 (858,657) 39% 688,531 (144,467) Charges for services 1,626,448 1,626,448 864,576 (761,872) 53% 804,673 59,903 Fines and forfeitures 155,000 155,000 72,817 (82,183) 47°/a 82,645 (9,828) Interestoninvestments 181,000 181,000 (124,458) (305,458) -69% 68,768 (193,226) Other 131,000 131,000 105,432 (25,568) 80% 59,358 46,074 Transfers from other funds 341,700 341,700 170,850 (170,850) 50% 167,500 3,350 Total revenues 11 501 328 11 507 328 S 828,130 (5,673,198) 51% 6,363,025 (534,895) Expendkures General govemment 2,573,630 2,676,697 1,292,622 1,384,075 48% 1,254,957 (37,665) Publicsafety 4,681,978 4,681,978 2,211,272 2,470,706 47% 2,026,264 (185,008) Publicworks 1,878,397 1,878,397 688,332 1,190,065 37% 651,283 (37,049) Culture & recreation 1,746,982 1,746,982 737,591 1,009,391 42% 760,066 22,475 Natural resources 142,383 142,383 17,656 124,727 12% 61,786 44,130 Urban & economic development - - - - Na 10,175 10,175 Subtotal 11,023,370 11,126,437 4,947,473 6,178,964 44% 4,764,531 (182,942) Transferstootherfunds 1,168,947 1,205,947 182,716 1,023,231 15% 392,761 210,045 Total expendkures 12 192 316 12 332 383 5130189 7,202,184 42°k 5,1b7,282 27,103 Net change (680,988) (831,05b) 687,841 7,205,733 Page 1 of 1z OQ PRIp ,, City of Prior Lake � X General Fund Revenues As of 06/30/2013 "°'��t' (Preliminary 8� Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual Budget Amended Actual Positive (Negative) Percent Property taxes 31010 Currenttaxes 6,506,012 6,506,012 3,332,615 (3,173,397) 51% 31020 Delinquent taxes - - 83,724 83,724 n/a 31040 Fiscal disparities 645,427 645 427 344,848 (300,579) 53% 7151,439 7151439 3,761,187 (3,390,252) 53% Licenses & permits 32100 Business licenses 1,050 1,050 1,550 500 148% 32110 Liquor licenses 67,870 67,870 66,745 (1,125) 98% 32160 Refuse haulers 3,600 3,600 3,600 - 100% 32161 Plumbing registrations 875 875 700 (175) 80% 32170 Outdoor concert permits 1,150 1,150 600 (550) 52% 32180 Cigarette licenses 2,500 2,500 2,250 (250) 90% 32210 Building permits 369,250 369,250 261,068 (108,182) 71 % 32215 Mechanical permits 29,850 29,850 62,887 33,037 211 % 32230 Plumbing permits 27,375 27,375 24,305 (3,070) 89% � 32231 Sewer/water inspection 2,500 2,500 5,252 2,752 210% 32240 Animal licenses 3,750 3,750 3,105 (645) 83% 32260 Burning permits 2 250 2 250 1 600 (650) 71 % 512 020 512,020 433 662 (78,358) 85% 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% I, 33620 Township fire & rescue aid 362,106 362,106 181,053 (181,053) 50% 33621 Liaison aid 43,300 43,300 21,650 (21,650) 50% 33631 Payment in lieu of taxes 400 000 400 000 200,000 (200,000) 50% 1 402 721 1 402 721 544 064 (858,657) 39% Charges for services 34103 Zoning & subdivision fees 7,810 7,810 11,335 3,525 145% 34104 Plan check fees 214,250 214,250 159,886 (54,364) 75% 34105 Sale of maps/publications 2,500 2,500 798 (1,702) 32% 34107 Assessment searches 400 400 180 (220) 45% 34109 Project admin/eng fees 376,000 376,000 100,000 (276,000) 27% 34203 AccidenUwarrant reports 300 300 637 337 212% 34303 Franchisefees 571,700 571,700 289,778 (281,922) 51% 34304 PEG access fees 31,000 31,000 16,780 (14,220) 54% 34731 Softball fees 28,000 28,000 26,485 (1,515) 95% 34735 Recreation program fees 56,000 56,000 33,761 (22,239) 60% 34740 Beach concessions 750 750 1,832 1,082 244% 34760 Facility rental 70,252 70,252 35,570 (34,682) 51% 34761 Studio/pavilion rental 15,000 15,000 10,577 (4,423) 71 % 34762 Park shelter rental 7,000 7,000 6,991 (9) 100% 34765 Tower leases 199,986 199,986 153,093 (46,893) 77% 34780 Park admission fees 19,000 19,000 4,084 (14,916) 21% 34783 City Contract Services 26 500 26 500 12,789 (13,711) 48% 1 626 448 1 626 448 864,576 (761,872) 53% Page 2 of 12 OF YR1p �, City of Prior Lake � x General Fund Revenues As of 06/30/2013 '"��'`' (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 52,063 (57,937) 47% 35104 Prosecution restitution 45 000 45 000 20,754 (24,246) 46% 155 000 155 000 72,817 (82,183) 47% Miscellaneous revenues 36102 County Assess. Collection - - 3,600 3,600 n/a 362101nterestearnings 181,000 181,000 56,725 (124,275) 31% 36211 Developer agreements 55,000 55,000 52,734 (2,266) 96% 36212 Miscellaneous revenue 65,000 65,000 36,617 (28,383) 56% 36225 Unrealized inv. Gain(loss) - - (181,183) (181,183) n/a 36230 Contributions & donations 11,000 11,000 12,481 1,481 113% 312 000 312 000 (19 026) (331,026) -6% Other financing sources 39203 Transfers from other funds 341 700 341 700 170 850 (170,850) 50% 341 700 341 700 170 850 (170,850) 50% Total revenues 11,501,328 11,501,328 5,828,130 (5,673,198) 51% Page 3 of 12 OF PRIp� ,� City of Prior Lake � � General Fund Expenditures As of 06/30/2013 '"��5�`" (Preliminary 8� Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual Budget Amended Actual Positive (Negative) Percent General government 41110 Mayor & council 62,168 62,168 31,536 30,632 51 % 41130 Ordinance 6,000 6,000 3,296 2,704 55% 41320 Administration 399,916 399,916 189,199 210,717 47% 41330 Boards & commissions 9,989 9,989 4,521 5,468 45% 41520 Finance 416,649 416,649 183,817 232,832 44% 41540 Internal auditing 25,000 25,000 24,890 110 100% 41550 Assessing 118,800 118,800 116,700 2,100 98% , 41610 Legal 317,780 317,780 163,968 153,812 52% 41820 Personnel 145,807 145,807 64,250 81,557 44% 41830 Communications 117,951 117,951 57,837 60,114 49% 41910 Community development 338,301 368,613 169,447 199,166 46% 41920 Technology 179,757 252,512 100,932 151,580 40% 41940 Buildings & plant 435,512 435,512 182,229 253,283 42% Total general government 2,573,630 2,676,697 1,292,622 1,384,075 48% Public safety 42100 Police 3,282,062 3,282,062 1,581,084 1,700,978 48% 42200 Fire 857,539 857,539 365,990 491,549 43% 42400 Building inspection services 510,427 510,427 249,884 260,543 49% 42500 Emergency management 5,500 5,500 1,169 4,331 21% 42700 Animal control 26,450 26,450 13,145 13,305 50% ' Total public safety 4,681,978 4,681,978 2,211,272 2,470,706 47% Public works , 43050 Engineering 336,917 336,917 159,041 177,876 47% 43100 Street 1,171,354 1,171,354 360,470 810,884 31 % 43400 Central garage 370,126 370,126 168,821 201,305 46% Total publicworks 1,878,397 1,878,397 688,332 1,190,065 37% i Culture/recreation 45100 Recreation 381,655 381,655 184,584 197,071 48% 45200 Parks 1,292,447 1,292,447 517,971 774,476 40% 45500 Libraries 72,880 72,880 35,036 37,844 48% Total culture/recreation 1,746,982 1,746,982 737,591 1,009,391 42% Natural resources 46100 Natural resources 142,383 142,383 17,656 124,727 12% Total natural resources 142,383 142,383 17,656 124,727 12% Urban & economic development 46500 Economic development - - - - n/a Total urban/economic dev - - - - n/a 49303 Transfers to other funds 1,168,947 1,205,947 182,716 1,023,231 15% Total expenditures 12,192,316 12,332,383 5,130,189 7,202,194 42% Page 4 of 12 o� p �` O � City of Prior Lake ; � Debt Service Funds As of 06/30/2013 '"f��flt" (Preliminary 8� Unaudited) Variance with 2013 2013 Budget - Actual Budget Actual Positive (Negative) Percent Revenues Property taxes 31010 Current taxes 1,832,685 874,770 (957,915) 48% Special assessments 36101 CityAssessCollections - 51,932 51,932 Na 36102 Special assessments 407,128 186,719 (220,409) 46% Miscellaneous revenues 36210 Interest earnings 23,490 11,566 (11,924) 49% 36225 Unrealized Investment Gain/(Loss) - (43,863) (43,863) n/a Other financing sources 39203Transfersfromotherfunds 1,878,640 329,786 (1,548,854) 18% 39310 Bond Proceeds - - - n/a Total revenues 4,141,943 1,410,910 (2,731,033) 34% Expenditures Debt Service 601 Principal 12,745,000 895,000 11,850,000 7°/a 611 Interest 1,607,210 607,911 999,299 38% • 630 Other e�enses 6,100 � 3,958 2,142 65% 14, 358, 310 1, 506, 869 12, 851,441 10% Total expenditures 14,358,310 1,506,869 12,851,441 10% Net change (10,216,367) (95,959) Page 5 of 12 o P `� O $ City of Prior Lake � x Revolving Equipment Fund As of 06/30/2013 yr.�SO�* (preliminary 8� Unaudited) Variance with 2013 2013 2013 Budget- Actual Budget Amended Actual Positive (Negative) Percent Revenues Propertytaxes 31010 Current taxes 280,000 280,000 133,627 (146,373) 48% Miscellaneous revenues 36210 Interest earnings 19,732 19,732 12,121 (7,611) 61% 36225 Unrealized investment gain/(loss) - - (36,334) (36,334) nla Other financing sources 39104 Forfeiture property sales - - 13,145 13,145 n/a 39203 Transfers from other funds 110,000 110,000 55,000 (55,000) 50% Total revenues 409,732 409,732 1T7,559 (232,173) 43% Expenditures Public safety 42100 Police 450 Agency forfeit proceeds - - 4,428 (4,428) n/a 550 Motor vehicles 56,000 56,000 - 56,000 0% 580 General equipment - - 3,862 (3,862) n/a 56,000 56,000 8,290 47,710 15% 42200 Fire & Rescue 150,000 150,000 - 150,000 0% Total public safety 206,000 206,000 8,290 797,710 4% Public works . 43100 Streets 550 Motor vehicles 36,601 36,601 - 36,601 0% 580 General equipment 50,712 50,712 31,163 19,549 61% 43400 Central garage 15,000 15,000 7,409 7,591 49% Total pubiic works 102,313 102,313 38,572 63,741 38°k I I Culture 8� recreation 45200 Parks 550 Motor vehicles 99,194 99,194 - 99,194 0% 580 General equipment 31,827 31,827 19,448 12,379 61% Total culture & recreation 131,021 137,021 19,448 111,573 15°k Sewer Utility 580 General equipment 49,862 49,862 48,997 865 98% Total expenditures 489,196 489,196 115,307 373,889 24% Net change (79,464) (79,464) 62,252 Page 6 of 12 O F PRtp� City of Prior Lake ; x Facilities Management Fund As of 06/30/2013 4 �N��t'' (Preliminary � Unaudited) Variance with 2013 2012 2013 Budget - Actual Budget Amended Actual Positive (Negative) Percerrt Revenues Miscellaneous revenues 36210 Interest earnings 3,164 3,164 5,452 2,288 172% 36225 Unrealized investment gain/(loss) - (14,748) (14,748) n/a Other financing sources 39203 Transfers from other funds 40,000 40,000 20,000 (20,000) 50% Total revenues 43,164 43,164 70,704 (32,460) 25% Expenditures Public safety 42200 Fire 520 Buildings & structures 136,500 136,500 - 136,500 0% 136, 500 136, 500 - 136, 500 0% Total public safety 136,500 136,500 - 736,500 0% Public works 43400 Central garage 520 Buildings & structures 214,302 214,302 - 214,302 0% 214,302 214,302 - 214,302 0% Total public works 214,302 214,302 - 214,302 0% Culture & recreation . 45100 Recreation 505 Professional services - 1,308 1,308 - 100% 520 Buildings & structures 48,536 116,866 63,185 53,681 54% 48,536 118,174 64,493 53,681 55% 45500 Library 505 Professional services - 1,308 1,308 - 100% i 520 Buildings & structures 48,536 116,866 63,288 53,578 54% 48,536 118,174 64,596 53,578 55% Total culture & recreation 97,072 236,348 129,089 107,259 55% Total expenditures 447,874 587,150 729,089 458,061 22°k I Netchange (404,T70) (543,986) (118,385) Page 7 of 12 o� P �`Oe City of Prior Lake � x Water Fund � `� As of 06/30/2013 .,�� (Preliminary 8 Unaudited) � E Variance with Variance 2013 2013 Budget - Actual 06/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - water 37100 Water revenues 2,616,817 864,117 (1,752,700) 33% 844,319 19,798 37110 Capital facility revenue 234,000 120,864 (113,136) 52% 118,600 2,264 37140 Doorhangercharges - 10,350 10,350 n/a 8,950 1,400 37150 Water reconnect charges 4,500 1,485 (3,015) 33% 1,620 (135) 37160 Penalties 35,000 12,145 (22,855) 35% 11,635 510 37170 Watermeters 50,375 58,900 8,525 117% 41,101 17,799 37175 Pressure reducers 14,975 14,140 (835) 94% 10,481 3,659 37180 Frost plates - 8 8 n/a 8 - 37190 Misc revenue adjustments - - - n/a 6 (6) Total water revenues 2 955 667 1 082 009 (1 873 658) 37% 1 036 720 45,289 Miscellaneous revenues 36210 Interest eamings 50,000 27,460 (22,540) 55% 23,768 3,692 36212 Miscellaneous - 1,692 1,692 n/a 1,335 357 36225 Unrealized inv. gain (loss) - (78 260) (78,260) n/a - (78,260) Total miscellaneous revenues 50 000 (49 108) (99 108) -98% 25 103 (74,211) Total revenues 3,005,667 1,032,901 (1,972,766) 34% 1,061,823 (28,922) Operating expenses Personnel & current expenses 41520 Finance 79,515 40,154 39,361 50% 34,792 (5,362) 49400 Water 1 528 631 558 409 970 222 37% 572 682 14,273 _ Total opereting expenses 1,608,146 598,563 1,009,583 37% 607,474 8,911 Capital improvements � 49400 Water improvements 895 277 801 891 93,386 90% 501 891 (300,000) Total capital improvements 895,277 801,891 93,386 90% 501,891 (300,000) 49303 Transfers to other funds 845,746 292,667 553,079 35% 290,903 (1,764) � Total expenses 3,349,169 7,693,121 1,656,048 51% 1,400,268 (292,853) Net change (343 502) (660,220) (338,445) (321,775) Page 8 of 12 O rRfD City of Prior Lake '� L � x SewerFund `u n � Of O6/30/2013 �, (Preliminary 8 Unaudited) COMPARATIVE Variance with Variance 2013 2013 Budget - Actual 06/30/2012 from 2072 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - sewer 37102 Sewerrevenues 1,155,028 479,820 (675,208) 42% 489,752 (9,932) 37104 MCES revenues 1,243,423 513,737 (729,686) 41% 525,331 (11,594) 37110 Capital facility revenue 234,000 120,866 (113,134) 52% 118,600 2,266 37160 Penalties 35 000 13 880 (21,120) 40% 13.752 128 Total sewer revenues 2 667 451 1 128 303 (1 539,148) 42% 1 147 435 (19,132) Miscellaneous revenues 362101nteresteamings 50,000 20,767 (29,233) 42% 22,427 (1,660) 36225 Unrealized inv. gain (loss) - (60 572) (60,572) n/a - (60,572) Total miscellaneous revenues 50 000 (39 805) (89 805) -80% 22 427 (62,232) Total revenues 2,717,451 1,088,498 (1,628,953) 40% 1,169,862 (81,364) Operating expenses Personnel & current expenses 41520 Finance 79,515 40,084 39,431 50% 34,791 (5,293) 49450 Sewer 2 214 425 914 264 1,300 161 41% 989 599 75,335 Total operating expenses 2,293,940 954,348 1,339,592 42% 1,024,390 70,042 Capital improvements 49450 Sewer improvements 295 565 44 133 251,432 15% 78 937 34,804 Total capital improvements 295,565 44,133 251,432 15% 78,937 34,804 49303 Transfers to other funds 328,957 121,909 207,048 37% 119,647 (2,262) Total expenses . 2,918,462 1,120,390 1,798,072 38°k 1,222,974 102,584 Net change (201 011) (37,892) (53,112) 21,220 Page 9 of 12 oF p �'Oe City of Prior Lake � � Water Quality Fund As of 06/30/2013 4 �.�° (Preliminary & Unaudited) ��A� Variance 2013 2073 Varlance with Actual 06/30/2012 from 2012 Budget Actual Positiv (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - storm water 37120 Water quality revenue 677 295 356 909 (320,386) 53% 280,280 76,629 Total water quality revenues 677 295 356 909 (320,386) 53°k 280,280 76,629 Miscellaneous revenues 36210 Interest eamings 7,016 2,785 (4,231) 40°/a 3,754 (969) 36225 Unrealized Inv Gain (Loss) - (9 355) (9,355) n/a - (9,355) Total miscellaneous revenues 7 016 (6 570) (13,586) -94% 3,754 (10,324) Intergovemmental Revenue 33160 Federal Grants - 13,217 13,217 n/a - �3,2�� 33422 State Aid/Grants 100,000 - (100,000) 0% - - 33633 Watershed Dist Grants/Aids - - - n/a 43 697 (43,697) Total intergovemmental revenues 100 000 13 217 (86,783) 13°k 43,697 (30,480) Total revenues 784 311 363 556 (420,755) 46% 327 731 35,825 Operating expenses Personnel & cuRent expenses 49420 Waterquality 541,373 182,905 358,468 34% 135,175 (47,730) Capital improvements 49420 Waterquality 645,000 207,000 438,000 32% 157,896 (49,��) 49303 Transfers to other funds ' - - ' �� Total expenses 7 186 373 389,905 786,468 33% 293,077 (96,834) Net change (402,062) (26,349) 34,660 (67,009) Page 10 of 12 o� p �`Ov City of Prior Lake � S Transit Fund " "' As of 0613012013 �,,,�,� (Preliminary & Unaudited) CfiM1�ARATIVE Variance with Variance 2013 2013 Budget - Actual 06/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Opereting revenues Charges for services - transit revenue 38400 Bus fares 220,500 95,745 (124,755) 43% 90,484 5,261 38422 State transit aid 627,738 299,010 (328,728) 48% 186,006 113,004 Total transit revenues 848 238 394 755 (453,483) 47% 276,490 118,265 Miscellaneous revenues 36210 Interest earnings 33,000 14,166 (18,834) 43% 16,356 (2,190) 36225 Unrealized inv. gain (loss) - (41 006) (41,006) n/a - (41,006) Total miscellaneous revenues 33 000 (26 840) (59,840) -81% 16 356 (43,196) Total revenues 881 238 367 915 (513,323) 42% 292,846 75,069 Opereting expenses Personnel & current expenses 49804 Transit services 860,046 399,587 460,459 46% 396,022 (3,565) Capital improvements _ _ 49804 Capital improvements 267,000 - 267,000 0% Total expenses 1,127,046 399,587 727,459 35% 396,022 (3,565) Net change (245,808) (31,672) (103,176) 71,504 � I Page 11 of 12 � p �` O � City of Prior Lake � � Economic Development Authority Special Revenue Fund As of 06/30/2013 "��NN��" (Preliminary � Unaudited) Variance with 2013 2013 2073 Budget - Actual Budget Amended Actual Positive (Negative) Percent Revenues Property taxes 31010 Current taxes 150,000 150,000 75,223 (74,777) 50% Miscellaneous revenues 34760 Facility rentals 2,700 2,700 576 (2,124) 21% 3�000c Loan administration 2,000 2,000 - (2,000) 0% 36210 Interest earnings - - 79 79 n/a 36225 Unrealized investment gain/(loss) - - (587) (587) n/a 39203 Transfers from other funds - 37,000 21,655 (15,345) 59% Total revenues 154,700 191,700 96,946 (94,754) 57% Expenditures Economic development 46500 Economic development 151,684 151,684 39,476 112,208 26% 46503 Tech village incubator - 37,000 23,706 13,294 64% Total expenditures 151,684 188,684 63,182 125,502 33% Net change 3,016 3,016 33,764 Page 12 of 12