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Home My WebLink About5D 2013 3rd Quarter Financial Reports O � PRlp� ti � 4646 Dakota Street SE '�r�so'��` Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: NOVEMBER 12, 2013 AGENDA #: 5D PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR PRESENTER: JERILYN ERICKSON AGENDA ITEM: CONSIDER APPROVAL OF THE 3RD QUARTER 2013 FINANCIAL REPORTS DISCUSSION: I ntroduction Staff has prepared preliminary summary financial reports (attached) as of September 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 nine 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 September 30, 2013 Financial Report as submitted. 2. Take no action and provide the staff with specific direction. RECOMMENDED Alternative 1. MOTION: o .� PRlp� MEMORANDUM r: � � DATE: November 12, 2013 TO: Prior Lake City Council "�"�5°``'' FROM: Jerilyn Erickson, Finance Director RE: Financial Report dated 09/30/2013 The financial reports presented as part of this agenda item reflect activity during the first nine months of 2013. The significant issues identified at this time are summarized below. General Fund Summarv Key points for the third quarter: � Preliminary financial information reflects expenditures exceeding revenues by $657,000. • Building permit activity is at 95% of budgeted activity (for single family dwelling units); • Charges for services are slightly 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 slightly higher than 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 collected 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 building permits are budgeted at 150 for 2013. Building permit activity is higher than the first nine months of 2012 and 2011 for single family homes as well as additions and alterations. The following table provides a breakdown of the first nine months of activity by year: 2013 108 35 2 1, 597 1, 742 5% 2012 93 27 1 1,539 1,660 21 % 2011 62 16 0 1,290 1,368 n/a The average value associated with the single family permits is $347k which is the same as the average for all single family permits in 2012. The average value associated with the townhouse permits is $193k. As of October 31, 2013, one hundred sixteen (116) single family permits and thirty-five (35) townhouse permits have been issued. Ninety (90) percent of the Municipal State Aid (MSA) for road maintenance has been received. Total MSA payments are anticipated to be $16k higher than budget. Third quarter Franchise fees and PEG fees collected in October 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 all of the thirteen agreements in place. Page 2 Court fines and prosecution restitution revenues are tracking lower than 2012. Interest earnings are at 47 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 has declined. As of December 31, 2012, the market value of the total portfolio exceeded the cost of the investments by $457k. As of September 30, 2013, the market value of the portfolio is less than the cost of the investments by $408k. 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 Expenditures General Fund expenditures for 2013 represent 64 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. Yearend projections for both revenues and expenditures will be updated and reported to the Council in conjunction with the 2014 budget discussion at the workshop on November 12. 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 88% 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. Revolvinp Equipment Fund Property taxes, the primary funding source, were received in June. Interest earnings are at 89% 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. The vehicle and equipment purchases were approved at council meetings earlier this year. Most of the expenditures are reflected on this report. The process for refurbishment of the 1993 Peterbilt fire truck (estimated $150k) is in progress. Staff anticipates bringing an agenda item to the Council before the end of the year. It is uncertain whether or not the refurbishment will be completed before the end of the year. Facilities Manaaement 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 245% 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 3 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 anticipates bringing an agenda item to the Council before the end of the year which addresses the process and timing for moving forward with these two projects. Water Fund The financial report for the Water Fund reflects four billing cycles and water revenues are about 15% lower than the same period in 2012. Water rates were increased effective January 1, 2013. Year-to-date consumption was 19% lower. It should be noted that consumption did increase during the July 21-September 20 period which was billed on October 1, although the overall year-to-date consumption is still lower than 2012. Interest earnings are at 75% 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 slightly lower than the same period in 2012 primarily due to the timing of chemical purchases, etc. Capital improvements reflect the Water Fund's contribution of $600k to the Welcome Avenue project and $61 k to the CR12 project as well as MTU encoder purchases and the final payment to CJF Holdings to close out the development agreement. Sewer Fund The financial report for the Sewer Fund reflects four billing cycles and sewer revenues are about 3% lower than the same period in 2012. The MCES and City sewer rates were increased effective January 1, 2013. Year-to-date usage was about 5% lower. Interest earnings are at 60% 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 the same period in 2012. Capital improvements reflect the Sewer Fund's contribution of $26k to the CR12 project as well as MTU encoder purchases. Water Qualitv Fund The financial report for the Water Quality Fund reflects four 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 51 % 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 higher than first nine months 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. Transit Fund Bus fares and state aid for the first nine months are reflected in the financial report for the Transit Fund. Bus fares are about $20k or 14% higher than the same period in 2012. State Page 4 transit aid revenue is about $135k or 40% higher than 2012. Current funding levels were restored in July. Interest earnings are at 62% 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 nine months of 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 be until later this year. Once ordered, it will take 9 months to a year to arrive. • Southbridge Sealcoat ($16,000) - This project was completed by the end of the summer. We anticipate that our share of the costs to be covered with regional funds. Economic Development Authoritv Special Revenue Fund First half property taxes were received in June. Second half and final tax settlements will be received in December and January, respectively. Facility rental payments have been received from design a tivity, Ilc. and Innovative Computer Professionals, Inc. (ICP) for the Technology Village Business Incubator. Argos Risk is a new tenant starting October 1St 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, communications, legal and Technology Village Business Incubator expenditures comprise the majority of the expenditures. The EDA reallocated $20k of the $60k budgeted for professional services to fund the SAC Loan Program. If you have any questions regarding these financial reports, please contact me at 952.447.9841. Page 5 p F PRtp �� City of Prior Lake � � General Fund Summary As of 09/30/2073 ""^�5�`" (Preliminary 8 Unaudited) COMPARATIVE Variance with Actual Variance 2013 2013 2013 Amended Budget - Percent of 09/30/2012 from 2012 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 512,020 512,020 610,246 98,226 119% 461,885 148,361 Intergovernmental 1,402,721 1,402,721 976,095 (426,626) 70% 976,931 (836) Chargesforservices 1,626,448 1,626,448 1,400,608 (225,840) 86% 1,348,801 51,807 Fines and forfeitures 155,000 155,000 103,920 (51,080) 67% 118,246 (14,326) Interest on investments 181,000 181,000 (164,112) (345,112) -91% 107,659 (271,771) Other 131,000 131,000 232,433 101,433 177% 167,786 64,647 Transfers from other funds 341,700 341,700 256,275 (85,425) 75% 251,250 5,025 Total revenues 11,501,328 77,501,328 7,176,652 (4,324,676) 62% 7,620,241 (443,589) Expenditures General government 2,573,630 2,676,697 1,908,820 767,877 71% 1,821,040 (87,780) Publicsafety 4,681,978 4,681,978 3,226,612 1,455,366 69% 3,028,418 (198,194) Publicworks 1,878,397 1,878,397 1,215,821 662,576 65% 1,249,264 33,443 Culture & recreation 1,746,982 1,746,982 1,243,506 503,476 71% 1,225,379 (18,127) Natural resources 142,383 142,383 55,879 86,504 39% 70,421 14,542 Urban & economic development - - - - n/a 14,078 14,078 Subtotal 11,023,370 11,126,437 7,650,638 3,475,799 69°/a 7,408,600 (242,038) Transferstootherfunds 1,168,947 1,205,947 182,716 1,023,231 15°/a 392,761 210,045 Total expenditures 12,192,316 12,332,383 7,833,354 4,499,029 64% 7,801,361 (31,993) Net change (690,988) (831,055) (656,702) (787,120) Page 1 of 12 O 4 PRIp � � City of Prior Lake � � General Fund Revenues As of 09/30/2013 '"`N,,,�Su�" (Preliminary 8� Unaudited) Variance with 2013 2013 2013 Amended Budget - Actual Budget Amended Actual Positive (Negative) Percent Property taxes 31010 Current taues 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% 7,151,439 7,151,439 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 71,325 3,455 105% 32160 Refuse haulers 3,600 3,600 3,900 300 108% 32161 Plumbing registrations 875 875 725 (150) 83% 32170 Outdoor concert permits 1,150 1,150 1,250 100 109% 32180 Cigarette licenses 2,500 2,500 2,500 - 100% 32210 Building permits 369,250 369,250 403,762 34,512 109% 32215 Mechanical permits 29,850 29,850 75,528 45,678 253% 32230 Plumbing permits 27,375 27,375 36,388 9,013 133% 32231 Sewer/water inspection 2,500 2,500 7,718 5,218 309% 32240 Animal licenses 3,750 3,750 3,475 (275) 93% 32260 Burning permits 2,250 2,250 2,125 (125) 94% 512,020 512,020 610,246 98,226 119% Intergovernmental revenue 33160 Federal Aids/grants 1,500 1,500 2,400 900 160% 33401 Local government aid 11,905 11,905 5,953 (5,952) 50% 33416 State aid - police training 8,246 8,246 7,860 (386) 95% 33418 State road & bridge aid 260,000 260,000 249,049 (10,951) 96% 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% 33422 State aids & grants - - 1,667 1,667 n/a 33610 County/city aids & grants 17,664 17,664 - (17,664) 0% 33620 Township fire & rescue aid 362,106 362,106 362,106 - 100% 33621 Liaison aid 43,300 43,300 44,060 760 102% 33631 Payment in lieu of taxes 400,000 400,000 300,000 (100,000) 75% 1,402,721 1,402,721 976,095 (426,626) 70% Charges for services 34103 Zoning & subdivision fees 7,810 7,810 19,863 12,053 254% 34104 Plan check fees 214,250 214,250 246,002 31,752 115% 34105 Sale of maps/publications 2,500 2,500 798 (1,702) 32% 34107 Assessment searches 400 400 200 (200) 50% 34109 Project admin/eng fees 376,000 376,000 275,000 (101,000) 73% 34203 AccidenUwarrant reports 300 300 1,036 736 345% 34303 Franchise fees 571,700 571,700 437,259 (134,441) 76% 34304 PEG access fees 31,000 31,000 23,286 (7,714) 75% 34731 Softball fees 28,000 28,000 28,749 749 103% 34735 Recreation program fees 56,000 56,000 42,145 (13,855) 75% 34740 Beach concessions 750 750 1,809 1,059 241 % 34760 Facility rental 70,252 70,252 52,659 (17,593) 75% 34761 Studio/pavilion rental 15,000 15,000 14,205 (795) 95% 34762 Park shelter rental 7,000 7,000 10,884 3,884 155% 34765 Tower leases 199,986 199,986 200,128 142 100% 34780 Park admission fees 19,000 19,000 16,456 (2,544) 87% 34783 City Contract Services 26,500 26,500 30,129 3,629 114% 1,626,448 1,626,448 1,400,608 (225,840) 86% Page 2 of 12 0 � PRIO � � City of Prior Lake � � General Fund Revenues As of 09/30/2013 ""N�9�`" (Preliminary 8 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 72,081 (37,919) 66% 35104 Prosecution restitution 45,000 45,000 31,839 (13,161) 71% 155,000 155,000 103,920 (51,080) 67% Miscellaneous revenues 36102 County Assess. Collection - - 3,600 3,600 n/a 36210 Interest earnings 181,000 181,000 85,128 (95,872) 47% 36211 Developer agreements 55,000 55,000 140,060 85,060 255% 36212 Miscellaneous revenue 65,000 65,000 49,792 (15,208) 77% 36225 Unrealized inv. Gain(loss) - - (249,240) (249,240) n/a 36230 Contributions & donations 11,000 11,000 38,981 27,981 354% 312,000 312,000 68,321 (243,679) 22% Other financing sources 39203 Transfers from other funds 341,700 341,700 256,275 (85,425) 75% 341,700 341,700 256,275 (85,425) 75% Total revenues 11,501,328 11,501,328 7,176,652 (4,324,676) 62% Page 3 of 12 O 4 YRIO � City of Prior Lake � � General Fund Expenditures As of 09/30/2013 "'�65�``' (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 44,078 18,090 71% 41130 Ordinance 6,000 6,000 6,460 (460) 108% 41320 Administration 399,916 399,916 293,726 106,190 73% 41330 Boards & commissions 9,989 9,989 6,868 3,121 69% 41520 Finance 416,649 416,649 274,581 142,068 66% 41540 Internal auditing 25,000 25,000 24,890 110 100% 41550 Assessing 118,800 118,800 116,700 2,100 98% 41610 Legal 317,780 317,780 234,817 82,963 74% 41820 Personnel 145,807 145,807 94,285 51,522 65% 41830 Communications 117,951 117,951 84,822 33,129 72% 41910 Community development 338,301 368,613 261,248 107,365 71% 41920 Technology 179,757 252,512 173,444 79,068 69% 41940 Buildings & plant 435,512 435,512 292,901 142,611 67% Total general government 2,573,630 2,676,697 1,908,820 767,877 71% Public safety 42100 Police 3,282,062 3,282,062 2,336,961 945,101 71% 42200 Fire 857,539 857,539 497,203 360,336 58% 42400 Building inspection services 510,427 510,427 370,610 139,817 73% 42500 Emergency management 5,500 5,500 1,960 3,540 36% 42700 Animal control 26,450 26,450 19,878 6,572 75% Total public safety 4,681,978 4,681,978 3,226,612 1,455,366 69% Public works 43050 Engineering 336,917 336,917 242,711 94,206 72% 43100 Street 1,171,354 1,171,354 680,537 490,817 58% 43400 Central garage 370,126 370,126 292,573 77,553 79% Total public works 1,878,397 1,878,397 1,215,821 662,576 65% Culture/recreation 45100 Recreation 381,655 381,655 307,161 74,494 80% 45200 Parks 1,292,447 1,292,447 885,434 407,013 69% 45500 Libraries 72,880 72,880 50,911 21,969 70% Total culture/recreation 1,746,982 1,746,982 1,243,506 503,476 71 % Natural resources 46100 Natural resources 142,383 142,383 55,879 86,504 39% Total natural resources 142,383 142,383 55,879 86,504 39% Urban & economic development 46500 Economic development - - - - n/a Total urban/economic dev - - - - n/a 49303 Transfers to otherfunds 1,168,947 1,205,947 182,716 1,023,231 15% Total expenditures 12,192,316 12,332,383 7,833,354 4,499,029 64% Page 4 of 12 04 pRr°�, City of Prior Lake � � Debt Service Funds As of 09/30/2013 '"�N,�,�S�" (Preliminary & Unaudited) Variance with 2013 2013 Budget - Actual Budget Actuai Positive (Negative) Percent Revenues Property taxes 31010 Currenttaxes 1,832,685 874,770 (957,915) 48% Special assessments 36101 City Assess Collections - 657,461 657,461 n/a 36102 Special assessments 407,128 186,719 (220,409) 46% Miscellaneous revenues 36210 Interest earnings 23,490 20,653 (2,837) 88% 36225 Unrealized Investment Gain/(Loss) - (61,300) (61,300) n/a Other financing sources 39203 Transfersfrom otherfunds 1,878,640 329,786 (1,548,854) 18% 39310 Bond Proceeds - 58,150 58,150 n/a Total revenues 4,141,943 2,066,239 (2,075,704) 50% Expenditures Debt Service 601 Principal 12,745,000 895,000 11,850,000 7% 611 Interest 1,607,210 618,566 988,644 38% 630 Otherexpenses 6,100 3,958 2,142 65% 14,358,310 1,517,524 12,840,786 11 % Total expenditures 14,358,310 1,517,524 12,840,786 11% Net change (10,216,367) 548,715 Page 5 of 12 �� P �' O R City of Prior Lake � � Revolving Equipment Fund As of 09/30/2013 ��NNfiS�� (Preliminary & Unaudited) Variance with 2013 2013 2013 Budget- Actual Budget Amended Actual Positive (Negative) Percent Revenues Property taxes 31010 Current taxes 280,000 280,000 133,627 (146,373) 48% Miscellaneous revenues 36210 Interest earnings 19,732 19,732 17,594 (2,138) 89% 36225 Unrealized investment gain/(loss) - - (49,043) (49,043) n/a Other financing sources 39104 Forfeiture property sales - - 19,992 19,992 n/a 39203 Transfers from other funds 110,000 110,000 82,500 (27,500) 75% Total revenues 409,732 409,732 204,670 (205,062) 50% Expenditures Public safety 42100 Police 450 Agency forfeit proceeds - - 8,878 (8,878) n/a 550 Motor vehicles 56,000 56,000 52,800 3,200 94% 580 General equipment - - 3,862 (3,862) n/a 56,000 56,000 65,540 (9,540) 117% 42200 Fire & Rescue 150,000 150,000 175 149,825 0% Total public safety 206,000 206,000 65,715 140,285 32% Public works 43100 Streets 550 Motor vehicles 36,601 36,601 25,703 10,898 70% 580 General equipment 50,712 50,712 31,078 19,634 61% 43400 Central garage 15,000 15,000 17,688 (2,688) 118% Total public works 102,313 102,313 74,469 27,844 73% Culture & recreation 45200 Parks 550 Motorvehicles 99,194 99,194 79,289 19,905 80% 580 General equipment 31,827 31,827 20,645 11,182 65% Total culture & recreation 131,021 131,021 99,934 31,087 76% Sewer Utility 580 General equipment 49,862 49,862 48,997 865 98% Total expenditures 489,196 489,196 289,115 200,087 59% Net change (79,464) (79,464) (84,445) Page 6 of 12 �� p �' O �' City of Prior Lake � � Facilities Management Fund As of 09/30/2013 "'�n�,�sv�°' (Preliminary & Unaudited) Variance with 2013 2013 2013 Budget- Actual Budget Amended Actual Positive (Negative) Percent Revenues Miscellaneous revenues 36210 Interest earnings 3,164 3,164 7,765 4,601 245°/a 36225 Unrealized investment gain/(loss) - (19,889) (19,889) n/a Other financing sources 39203 Transfers from other funds 40,000 40,000 30,000 (10,000) 75°/a Total revenues 43,164 43,164 17,876 (25,288) 41% 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°/a 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% 520 Buildings & structures 48,536 116,866 63,288 53,578 54% 48,536 118,174 64,596 53,578 55% Total culture & recreation 97,072 236,348 129,089 707,259 55% Total expenditures 447,874 587,150 129,089 458,061 22% Net change (404,710) (543,986) (111,273) Page 7 of 12 0 p '�Ox City of Prior Lake F � Water Fund � As of 09/30/2013 . (Preliminary & Unaudited) COMPARATIVE Variance with Variance 2013 2013 Budget - Actual 09/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - water 37100 Water revenues 2,616,817 1,433,560 (1,183,257) 55% 1,686,903 (253,343) 37110 Capital facility revenue 234,000 161,629 (72,371) 69% 158,545 3,084 37140 Door hanger charges - 13,075 13,075 n/a 16,125 (3,050) 37150 Water reconnect charges 4,500 1,800 (2,700) 40% 3,430 (1,630) 37160 Penalties 35,000 18,242 (16,758) 52% 21,127 (2,885) 37170 Water meters 50,375 84,356 33,981 167% 69,317 15,039 37175 Pressure reducers 14,975 20,115 5,140 134% 17,830 2,285 371 SO Frost plates - 23 23 n/a 8 15 37190 Miscrevenueadjustments - (1) (1) n/a (87) 86 Totalwaterrevenues 2,955,667 1,732,799 (1,222,868) 59% 1,973,198 (240,399) Intergovernmental 33422 StateAids/Grants - 1,667 1,667 n/a 10,000 (8,333) Total intergovermental - 1,667 1,667 0% 10,000 (8,333) Miscellaneous revenues 36210 Interest earnings 50,000 37,740 (12,260) 75% 35,314 2,426 36212 Miscellaneous - 2,152 2,152 n/a 1,364 788 36225 Unrealized inv. gain (loss) - (101,089) (101 089) n/a - (101,089) Total miscellaneous revenues 50,000 (61,197) (111,197) -122% 36,678 (97,875) Total revenues 3,005,667 1,673,269 (1,332,398) 56% 2,019,876 (346,607) Operating expenses Personnel & current expenses 41520 Finance 79,515 56,627 22,888 71% 50,199 (6,428) 49400 Water 1,528,631 904,148 624,483 59% 951,655 47,507 Total operating expenses 1,608,146 960,775 647,371 60% 1,001,854 41,079 Capital improvements 49400 Waterimprovements 895,277 801,891 93,386 90% 652,784 (149,107) Total capital improvements 895,277 801,891 93,386 90% 652,784 (149,107) 49303 Transfers to otherfunds 845,746 356,629 489,117 42% 352,178 (4,451) Total expenses 3,349,169 2,119,295 1,229,874 63% 2,006,816 (112,479) Net change (343,502) (446,026) 13,060 (459,086) Page 8 of 12 oF p `� O � City of Prior Lake � x SewerFund � 1° As of 09/30/2073 � (Preliminary 8 Unaudited) COMFARATIVE Variance with Variance 2013 2013 Budget - Actual 09/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Opereting revenues Charges for services - sewer 37102 Sewerrevenues 1,155,028 672,094 (482,934) 58% 691,098 (19,004) 37104 MCES revenues 1,243,423 719,950 (523,473) 58% 741,953 (22,003) 37110 Capitai facility revenue 234,000 161,634 (72,366) 69% 158,545 3,089 37160 Penalties 35,000 18,941 (16,059) 54% 19,463 (522) Total sewer revenues 2,667,451 1,572,619 (1,094,832) 59% 1,611,059 (38,440) Intergovernmental 33422 StateAids/Grants - 1,667 1,667 n/a 1,667 Total intergovermental - 1,667 1,667 0% - 1,667 Miscellaneous revenues 362101nterestearnings 50,000 30,242 (19,758) 60% 32,973 (2,731) 36225 Unrealized inv. gain (loss) - (82,303) (82,303) n/a - (82,303) Total miscellaneous revenues 50,000 (52,061) (102,061) -104% 32,973 (85,034) Total revenues 2,717,451 7,522,225 (7,195,226) 56% 7,644,032 (121,807) Operating expenses Personnel & current expenses 41520 Finance 79,515 56,556 22,959 71% 50,198 (6,358) 49450 Sewer 2,214,425 1,469,737 744,688 66% 1,458,257 (11,480) Total operating expenses 2,293,940 1,526,293 767,647 67% 1,508,455 (17,838) Capital improvements 49450 Sewerimprovements 295,565 44,133 251,432 15% 196,803 152,670 Total capital improvements 295,565 44,133 251,432 15% 196,803 152,670 49303 Transfers to other funds 328,957 180,872 148,085 55% 176,522 (4,350) Total expenses 2,918,462 1,751,298 1,167,164 60% 1,881,780 130,482 Net change (201,011) (229,073) (237,748) 8,675 Page 9 of 12 0 p �'O�e City of Prior Lake � � Water Quality Fund As of 09/30I2013 "��,ES�* (Preliminary 8 Unaudited) ` COMPARATIVE Variance 2013 2013 Variance with Actual 09/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - storm water 37120 Waterqualityrevenue 677,295 472,073 (205,222) 70% 371,049 101,024 37160 Penalties - - - n/a 210 (210) Total water quality revenues 677,295 472,073 (205,222) 70% 371,259 100,814 Miscellaneous revenues 362101nteresteamings 7,016 3,548 (3,468) 51% 5,388 (1,840) 36225 Unrealized Inv Gain (Loss) - (11,009) (11,009) n/a - (11,009) Total miscellaneous revenues 7,016 (7,461) (14,477) -106% 5,388 (12,849) Intergovemmental Revenue 33160 Federal Grants - 22,020 22,020 n/a - 22,020 33422 State Aid/Grants 100,000 - (100,000) 0% - - 33633 Watershed Dist Grants/Aids - - - n/a 43,697 (43,697) Total intergovernmental revenues 100,000 22,020 (77,980) 22% 43,697 (21,677) Total revenues 784,311 486,632 (297,679) 62% 420,344 66,288 Operating expenses Personnel 8 current expenses 49420 Waterquality 541,373 281,584 259,789 52% 206,930 (74,654) Capital improvements 49420 Water quality 645,000 207,000 438,000 32% 250,700 43,700 49303 Transfers to other funds - - - n/a 0 Total expenses 1,186,373 488,584 697,789 41% 457,630 (30,954) Net change (402,062) (1,952) (37,286) 35,334 Page 10 of 12 oF pRr �R City of Prior Lake � �,� Transit Fund " �' As of 09/30/2013 � (Preliminary 8 Unaudited) GOMPARATIVE Variance with Variance 2013 2013 Budget - Actual 09/30/2012 from 2012 Budget Actual Positive (Negative) Percent Actual Positive (Negative) Operating revenues Charges for services - transit revenue 38400 Bus fares 220,500 164,763 (55,737) 75% 144,268 20,495 38422 State transit aid 627,738 471,049 (156,689) 75% 335,511 135,538 Total transit revenues 848,238 635,812 (212,426) 75% 479,779 156,033 Miscellaneous revenues 36210 Interest earnings 33,000 20,604 (12,396) 62% 23,609 (3,005) 36225 Unrealized inv. gain (loss) - (55,353) (55,353) n/a - (55,353) Total miscellaneous revenues 33,000 (34,749) (67,749) -105% 23,609 (58,358) Totalrevenues 881,238 601,063 (280,175) 68% 503,388 97,675 Operating expenses Personnel & current expenses 49804 Transit services 860,046 591,974 268,072 69% 599,524 7,550 Capital improvements 49804 Capital improvements 267,000 - 267,000 0% 32,310 32,310 Total expenses 1,127,046 591,974 535,072 53% 631,834 39,860 Net change (245,808) 9,089 (728,446) 137,535 Page 11 of 12 �� p �` O � City of Prior Lake � � Economic Development Authority Special Revenue Fund As of 09/30/2013 '"�m�ss�° (Preliminary & Unaudited) Variance with 2013 2013 2013 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 1,165 (1,535) 43% 3�000c Loan administration 2,000 - - - n/a 36210 Interest earnings - - 207 207 n/a 36225 Unrealized investment gain/(loss) - - (882) (882) n/a 39203 Transfers from other funds - 37,000 21,655 (15,345) 59% Total revenues 154,700 189,700 97,368 (92,332) 51% Expenditures Economic development 46500 Economic development 151,684 151,684 55,427 96,257 37% 46503 Technology village incubator - 37,000 24,233 12,767 65% Total expenditures 151,684 188,684 79,660 109,024 42% Net change 3,016 1,016 17,708 Page 12 of 12