HomeMy WebLinkAbout11 08 2013 2013 Year End and 2014 Proposed Budget O� P ��+�
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V � 4646 Dakota Street SE
Prior Lake, MN 55372
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CITY COUNCIL WORKSHOP AGENDA REPORT
MEETING NOVEMBER 12, 2013
DATE:
PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR
TOPIC: 2013 YEAREND PREVIEW AND 2014 PROPOSED BUDGET
DISCUSSION: Introduction
The purpose of this agenda item is to present to the Council the 2013 year end pro-
jections and discuss the final proposed 2014 budget.
Hi StOry
Earlier in 2013, the City Council adopted a budget adoption calendar. Pursuant to
that calendar, on August 12, 2013 the Council held a workshop to discuss the pre-
liminary 2014 budget. A preliminary 2014 budget and property tax levy were pre-
pared and presented at the September 9, 2013 council meeting and adopted. The
calendar calls for the City Council to review the 2013 yearend estimates and the
proposed 2014 budget this evening.
In work sessions earlier this year, the Staff identified areas where staffing was caus-
ing an inability to meet standards or there were insufficient backup resources. The
Council directed that to the extent positions are proposed in the 2014 budget, a cor-
responding revenue source must be identified.
The Council adopted a preliminary 2014 tax levy of $9,724,918 as shown in the ta-
ble below:
Change 13 -14
Pro rty Taxes �t�'13 201A Amount Percent
, Levy - Tax Capacity '
General Fund-Operating $ 6,174,590 $ 6,452,728 $ 278,138 4.50%
Debt Service Funds ' 1,832,685 1,915,398 82,713 4.51%
Rewlving Equipment Fund 280,000 200,000 (80,000) -28.57%
Facilities Management Fund - - - n/a
' ,$ 8, 287, 275 ;$ 8, 568,126 $ 280, 851 3. 39%
Levy - Market Value - General Fund 976,849 1,006,792 29,943 3.07%
!Levy - Economic DevAuthority 150,000 150,000 - 0.00%
Total Levy $ 9, 414,124 ;$ 9, 724, 918 $ 310, 794 3. 30%
Current Circumstances
Exhibit "A" is the overview of all budgeted funds. On the second page, it also in-
cludes the following:
• Property tax comparisons
• Expenditure comparisons
• Total expenditure comparison - adjusted to reflect bond refunding
• General Fund expenditure comparison — adjusted to reflect non-operating
changes
GENERALFUND
Expenditures
Primary drivers of the 2014 Proposed General Fund Expenditure Budget:
C�e o Chax� e �
Personnel $ 258,000
Current Ex enditures 193,000
Ca ital Outla 59,000
Debt Service 162,000
Transfers 85,000
Total $ 433,000
Personnel
COLA & Ste Increases; salar ad�ustments due to turnover; $ 118,000
Eliminate Fire Pension Deficit Contribution 51,000
Increase Pass-Thru of State Fire Aid 62,000
Position Changes:
• Add 1 FT buildin ins ector; 84,000
• Ad'ust Buildin Ins ection seasonal allocation (18,000)
Allocation Changes:
• Project Engineer 30,000
Ori inal 35% GF / 65% WQ; Revised 65% GF / 35% WQ
• Assistant City Manager 33,000
Ori inal 25% GF / 75% Transit; Revised 50% GF / 50°/a Transit
Total $ 258,000
Current Expenditures
Scott JPA Assessin A reement $ 16,000
Le al 23,000
Technolo 13,000
Insurance — General Liabilit /P&C 13,000
Resident Surve 10,000
Voting Equipment (anticipate ISD#719 contribution of 50% which is 75,000
included in revenues
Other 43,000
Total $ 193,000
Ca italOutla
Technolo includes $56k for network u rade $ 42,000
Parks — Park E ui ment Re lacement Plan CIP 17,000
Total $ 59,000
Debt Service
Eliminate transfer for Fire Hall Refund Bonds 2008A; final payment ($ 192,000)
was in 2013
Increase in scheduled debt service for market referendum bonds 30,000
Total $ 162,000
2
Transfers
Reinstated annual transfer to the Park Equipment Replacement $ 50,000
Fund
Transfer to EDA to fund Technolo Villa e Incubator 12,000
Transfer to EDA to fund 25% of Economic Development Assistant 23,000
osition
Total $ 85,000
Staff incorporated reductions for anticipated sales tax savings in both the current
expenditures and capital outlay where appropriate. Savings is estimated at $82k.
Revenues
Primary drivers of the 2014 Proposed General Fund Revenue Budget:
Buildin Permit and Plan Check Revenues $ 265,000
• Increased sin le famil dwellin units from 150 to 175
• Miscellaneous permits increased
• Average market value used to calculate the average permit
fees was increased
Investment Interest Revenues 61,000
Recreation Revenues 30,000
State Fire Aid 62,000
Townshi Aid Fire Contract 33,000
Develo er A reements 15,000
Miscellaneous Ad�ustments 93,000
Pro ert Tax Revenues 308,000
Total $ 619,000
Use of Reserves
The 2014 proposed budget reflects a use of reserve funds in the amount of $505k.
Included in this amount is $100k for healthcare containment incentives. This was a
two-year incentive program to move employees to a high deductible health insur-
ance plans.
DEBT SERVICE FUNDS
This budget reflects the sources and uses of funds for all of the debt service funds.
Staff has included a reduction in the 2014 tax levy of approximately $171 k primarily
due to prepayment of special assessments for the 2012A bond (Sunset, CR12 and
Welcome Avenue projects).
The expenditures reflect the payoff of the G.O. Fire Hall bonds 2006A ($3.2M) as
well as payments on G.O. Improvement Bond 2011 B($95k), both of which are paid
with escrowed funds.
CAPITAL PARK FUND
In an effort to improve the information available to the Council and the public re-
garding planned expenditures, Staff has added the Capital Park Fund to the list of
funds to be budgeted on an annual basis.
3
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program. In addition, it includes an estimated $50k for devel-
oping the Pike Lake Park Master Plan using SMSC funds that were donated in 2012
and recorded in the Capital park Fund.
REVOLVING EQUIPMENT FUND
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program.
FACILITIES MANAGEMENT FUND
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program.
EDA
This budget reflects the revenues and expenditures discussed and approved by the
EDA at their October 21, 2013 meeting. In an effort to improve the information
available to the Council and the public regarding the level of expenditures associ-
ated with economic development, Staff is recommending that a portion of the Eco-
nomic Development Assistant's salary and benefits be reflected in the EDA budget.
For 2014, staff has included 25% of the salary and benefits although the percentage
is much higher. It would be appropriate to phase in the allocation. For 2014, this
allocation is funded by a transfer of the associated operating levy from the General
Fund to the EDA. In the future, this cost should be added to the EDA property tax
levy and eliminated from the General Fund levy.
WATER FUND
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program. Revenues are based on the estimated consumption
at the adjusted water rates.
A Water Operator position was added to address concerns about insufficient
backup resources and service delivery demands. Salary and benefits for the new
position added about $78k to the expenditures for 2014. Staff does not anticipate
this additional expenditure to affect the planned rate increases until approximately
2016.
SEWER FUND
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program. Revenues are based on the estimated usage at the
current sewer rates. No adjustment to the rates is planned for 2014.
WATER QUALITY FUND
This budget includes revenues and expenditures programmed in the 2014-2018
Capital Improvement Program. Revenues are based on the adjusted storm water
rates.
Staff reviewed the current allocation of the Project Engineer's salary and benefits
and is recommending that the allocation be adjusted to reflect current and antici-
pated work responsibilities. (See chart above)
4
TRANSIT FUND
This budget includes revenues and expenditures programmed to deliver the current
level of services.
Staff reviewed the current allocation of the Assistant City Manager's salary and ben-
efits and is recommending that the allocation be adjusted to reflect current and an-
ticipated work responsibilities. (See chart above)
TAX LEVY
Tax Levy on a Per Household and Capita Basis
The tax levy data is shown in the following table on a gross tax levy basis as well as
net of the Market Value Homestead Credit (MVHC) basis.
2Q�� ��914 ' �A11 2{�1� �Q#3 2n94
Permits 62 94 106 174 175 Est 175 Est
Issued
Households 8,385 8,447 8,541 8,647 8,821 8,996
Population 22,641 22,796 23,031 23,296 23,731 24,169
GrossTa�c �g,861,555 $1t1,U79,186 $14,114,124 $9,414,124 $9;41� $9,553,918 '
CE
GrossTax $1,178 $1,193 $1,184 $1,089 $1,�7 $1,062
le PerlHH
Gross tax
Levy $436 $442 $439 $404 $39T $395
PedCa ita
Ta� Leary '
Net a# �9,655,555 $9 ;$9,85�,6f�Q $9,�1�4,124 $9,41�,12a $9,553,918
MVMG
Cretiit
Net Ta�c $1,152 $1.166 $1,154 $1,089 $1.fl67 $1,062
Le Per1HH
Net� T�ax
Levy $426 $432 $428 $4Q4 �397 $395
AeNCa ita
Household and population figures are based on permits issued in the previous year
and an assumption of 2.5 persons per household. It should be noted that these
numbers (other than the 2010 figures which is based on the U.S. Census) will not
coincide with the household and population figures provided by the Met Council;
therefore, comparisons with other communities should be undertaken with caution.
5
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RATE CHANGES
The following table reflects the rate changes that were discussed as part of the
2014-2018 Capital Improvement Program update. These rates have been incorpo-
rated into the 2014 budget.
2Q13 ?.014
Wate r <25000 $ `' 3.4q $ 3.65
Wate r >25000 $ 4.69 $ 5.03
Sewer-MCES $ 2.11 $ 2.11
Sewer-City $ 1.96 $ 1.96
Storm Water $ , 11.25 $ 13.25
CFAC-Water $ S,Op $ 5.00
CFAGSewer $ S,OQ ; $ 5.00
PUBLIC BUDGET MEETING
Staff will be preparing the presentation for the public budget meeting which will be
held during the November 25 council meeting. In previous years, staff has included
the following information:
• Accomplishments and future efforts
• Overview of budget and tax levy
o Timeline for property taxes payable (including valuation, tax notices,
etc. )
o Breakdown of the property tax bill by government entity
o Budgeting process
o Growth statistics
o Staffing levels
o Proposed expenditures
6
o Overall expenditure comparisons (adjusting for one-time expenditures
such as a bond refunding)
• General Fund expenditures
o By category
o Trending
o Restated to reflect inflation
o Per household
• Property Tax Levy
o Per household
• General Fund Reserves
o Projected balances
• Market Value Changes
• Impact of tax levy
o Average valued home
o Higher valued home
Participation in the Standard Measures Program requires that during the public
budget meeting, cities communicate information related to the standard measures
that were adopted. In addition, staff will communicate the estimated savings we are
anticipating from the sales tax exemption bill that was approved by the Legislature
this year. This information will be incorporated into the presentation.
Are there topics that should be dropped from or added to the presentation in
the City Council's opinion?
Conclusion
Bottom line, the following general points can be made about the 2014 proposed
budget and tax levy:
➢ Proposed total tax levy increase is $149,794 or 1.48%
• down from 3.30% proposed in September;
➢ Proposed total budget is $29,466,686
• 18.65% reduction from 2013;
• 3.27% reduction from 2013 when taking out the impact of the bond re-
funding payments);
➢ Proposed General Fund budget is $12,625,553
• 3.55% increase from 2013 original adopted budget;
• 5.21 % increase when adjusting for the Revolving Park Equipment fund
transfer and the savings from the sales tax exemption;
➢ Total planned use of reserves is $3,982,633
➢ Planned use of reserves for the General Fund is $504,770
➢ Two (2) additional full-time positions are proposed
• Building Inspector
• Water Operator
Staff is seeking direction from the Council to prepare the final 2014 budgets and
property tax levies
Staff is also seeking feedback regarding the types of information that the Council
would like presented to the public prior to opening the public budget meeting on No-
vember 25.
7
The Public Budget Meeting (Truth in Taxation) is scheduled for Monday, November
25, 2013 at 7:00 pm. The adoption of the final 2014 budgets and property tax levies
is scheduled for Monday, December 9, 2013.
Also, scheduled for November 25 is the public hearing to discuss the amendment of
the Official Fee Schedule ordinance.
FINANCIAL Staff will have the 2013 year end projections and updated General Fund reserve
IMPACT: balance projections available at the workshop.
EXHIBITS Exhibit "A" — Budget Overview (2 pages)
ATTAC H E D:
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