HomeMy WebLinkAbout9A - Prelim 2013 4th Quarter Financial Reports o
4646 Dakota Street SE
t izivivEsol t- Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: MARCH 10, 2014
AGENDA #: 9A
PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR
PRESENTER: JERILYN ERICKSON
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 2013 FINANCIAL
REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
December 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 all of 2013. The
reports are preliminary, unaudited and may change. The attached
memorandum provides a summary of the significant issues.
If council members have questions please feel free to contact me at 952-
447 -9841 for more information.
ALTERNATIVES: 1. A motion and second to accept the December 31, 2013 Financial
Report as submitted.
2. Take no action and provide the staff with specific direction.
RECOMMENDED Alternative 1.
MOTION:
04 YW0 MEMORANDUM
K, DATE: March 10, 2014
TO: Prior Lake City Council
M SO FROM: Jerilyn Erickson, Finance Director
RE: Financial Report dated 12/31/2013
The financial reports presented as part of this agenda item reflect activity during 2013. The
significant issues identified at this time are summarized below.
General Fund Summary
Key points for 2013:
• Preliminary financial information reflects expenditures exceeding revenues by $537,000.
• General Fund Balance reserves are projected at $6.43M as of 12/31/2013 which
equates to a 49.6% reserve balance.
The 2013 original budget anticipated a use of fund balance reserves in the amount of $691,000.
Subsequent budget amendments increased the anticipated use of fund balance reserves to
$831,000. This budgeted use of reserves, when combined with the revenue variance of
$234,000 and the expenditure variance of $60,000 results in the $537,000 reduction to the Fund
Balance reserves ($234,000 + $60,000 - $831,000 = ($537,000)).
General Fund Revenues
Property taxes were received in June and December. A final settlement was received in
January. Current tax collections were at 98.6% compared to 99.2% and 95.3% in 2012 and
2011, respectively. Delinquent collections were about 40% lower than 2012 but, recognizing
that the delinquent receivables were lower as of 12/31/12 compared to 12/31/2011, this was
expected. Overall General Fund tax revenues are about $20k lower than what was budgeted.
Single family building permits were budgeted at 150 for 2013. Revenues associated with
building permits and plan check fees are approximately $358k higher than what was budgeted.
The following chart shows building permit activity and average values for years 2008 through
2013.
2008 2009 2010 2011 2012 2013
Permits Issued:
Single Family 65 62 94 80 122 149
Townhomes 19 0 0 26 52 39
Commercial/ 7 5 2 0 2 5
Industrial
Miscellaneous 1,381 1,333 1,528 1,778 2,115 2,099
Total Permits 1,472 1,400 1,624 1,884 2,291 2,292
Average Value:
Single Family $ 304,462 $278,323 $267,298 $282,400 $347,000 $344,000
Townhomes $ 137,053 $ 0 $ 0 $142,615 $174,000 $187,000
Commercial/ $1,745,714 $570,200 $280,000 $ 0 $547,000 $186,000
Industrial
Page 2
The Municipal State Aid (MSA) for road maintenance was about $17k higher than budget. The
State Fire Aid was $63k higher than budget. The State Fire Aid is a direct pass- through to the
Fire Relief Association. The police aid was about $11k higher than budget.
Federal, State and local grants contributed $20k for various programs and projects.
Project administration for engineering projects was $13k lower than budget. As staff fine tunes
their time - tracking for projects, we may see some fluctuations in the estimates versus the actual
costs.
Franchise fees were budgeted at $572k for 2013. Overall fees are $13k higher than budget and
$13k higher than 2011. This is due to higher fees collected from Integra and the utility
companies. Mediacom had a slight decline.
Recreation revenues (including Park admission fees) are $16k under budget. Admission fees
were only charged on the weekends and not throughout the week per council direction.
City contract service revenues are $7k higher than budget for field striping and the Rotary
MusicFest.
Approximately $156k of administrative fees has been collected on the following developments:
Markley Lake, Jeffers Pond 7th, Copper Cove, Maple Glen 5th, Heritage Landing 2 Bluffs of
Shady Beach, Hickory Shores South, and The Enclave at Cleary Lake 2 " Due to the increase
in activity of new developments in 2012, administrative fee revenues of $55k were built into the
2013 budget, resulting in $101k over budget.
County court fines were $17k under budget primarily because we were one officer short from
March through November resulting in traffic stops being down 5% in 2013.
Interest earnings are $68k under budget. In addition, the report also reflects a $304k reduction
in the fair value of the securities. As rates have started to increase, the market value of the
existing securities have declined. This is a paper loss; no actual loss is realized because the
City holds the securities until maturity.
Miscellaneous revenues include false alarm fees, investigation fees for licenses, reimbursement
of police overtime from organizations, electrical inspector fees, insurance dividends, etc.
Contributions and donations include $26k received from the SMSC for the construction of a trail
along CR21. This contribution was not anticipated in the 2013 budget.
Preliminary reports show that actual revenues exceed the 2013 budget by approximately $233k.
The following table highlights the revenue categories that comprise the $233k:
Revenue Category Revenues to I
Exceed Budget
Property Taxes — 98.6% collection rate plus delinquent collections ($ 20,000)
Building Permits & Plan Check Fees 358,000
State road and bridge aid 17,000
State Fire Aid — this is a direct pass through to the Fire Relief 63,000
Association; and State Fire Training Aid
Police Aid 11,000
Federal, State and Local Grants 20,000
Project Administration /Engineering Fees (13,000)
Franchise Fees 13,000
Recreation Revenues (16,000)
Contract Services 7,000
Page 3
Developer Agreements 101,000
Court Fines (17,000)
Interest Earnings (68,000)
Investment Fair Value Adjustment (304,000)
Contributions 28,000
Miscellaneous Revenues 23,000
Other Adjustments 30,000
Estimated Total Revenues Exceeding Budget $ 233,000
General Fund Expenditures
General Fund expenditures for 2013 represent 99.5 percent of the $12,332,383 amended
budget. The level of expenditures (in total) is significantly lower than 2012 due to several
Council- authorized transfers of funds authorized in 2012. General categories vary in how they
are impacted from employee turnover, insurance, utilities, fuel, equipment repairs, ability to
complete capital projects etc.
There are many factors that are impacting where expenditures will be at yearend. There has
been employee turnover in many of the departments including Finance, Administration,
Community Development, Police, Buildings /Facilities, Streets and Natural Resources. These
personnel changes have resulted in savings due to positions being open for an extended period
of time and, when finally filled, the compensation package is typically lower for the new
employee. Vacancies have also caused overtime expenses to exceed the budget.
Preliminary General Fund expenditures are expected to come in Tess than the 2013 budget by
approximately $60k.
The following table highlights the large variances expected in personnel, current expenditures
and capital outlay:
Estimated Subtotals by
Expenditure Category Expenditures Category
Compared to Budget*
Personnel:
Reductions from Employee Turnover, Etc $ 241,000
Health Insurance 43,000
Firefighter Volunteer Compensation 16,000
Workers Comp Insurance 13,000
Overtime ( 59,000)
Fire Insurance Premium (paid to Fire Relief Assoc) ( 63,000)
Total Personnel $ 191,000
Current Expenditures:
Fuel $ (30,000)
Operating Supplies — Snow & Ice (49,000)
Legal / Prosecution Fees (18,000)
Assessing Contract (7,000)
Insurance — P/C (31,000)
Insurance — Workers Compensation (66,000)
Utilities — Electric (20,000)
Utilities — Gas 13,000
Utilities — Street Lighting 13,000
Equipment Repair Supplies (10,000)
Professional Services (36,000)
Community Events (10,000)
Street Overlay 26,000
Miscellaneous 30,000
Total Current Expenditures ($ 195,000)
Page 4
Capital Outlay Expenditures:
Park Improvements & Equipment $ 61,000
Technology (13,000)
Miscellaneous 10,000
Total Capital Outlay Expenditures $ 58,000
Transfers to Other Funds $ 6,000
Total Expenditures $ 60,000
*positive = budget savings; negative = expenditure exceeds budget
Debt Service Funds
Property taxes and special assessments were received with the tax settlements. Significant
prepayments ($716k) were received for special assessments associated with the CR12, Sunset,
Welcome Avenue projects as well as Boudin's Phase I and II projects. Interest earnings are at
127% 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 Economic Development Authority Public Project Bond of 2005 which was originally issued
to fund the construction of City Hall /Police Station was refunded in March, 2012. Upon further
research, it was determined that the debt associated with this refunded bond is considered "in
substance defeased" and should not be reflected on the City's financial statements. The
original 2013 expenditure budget included the refunding payment; therefore, the variance is due
to the payments associated with this bond issue.
Revolving Equipment Fund
Property taxes and special assessments were received in June, December and January (final
tax settlement). Proceeds from the sale of vehicles are recorded in this fund. Funding is also
provided by annual transfers from the Water Fund and Sewer Fund. Interest earnings are at
119% 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 in 2013.
Savings were realized in many of the acquisitions. The refurbishment of the 1993 Peterbilt fire
truck (estimated $150k) was not completed in 2013. The Council reauthorized the
refurbishment in 2014.
Funds received from police forfeitures and the eligible expenditures are also recorded in this
fund.
Facilities Management Fund
Transfers from the Water Fund and Sewer Fund are the primary source of revenues for the
2013 Facilities Management Fund budget. The Council authorized a transfer of $300k from the
General Fund in December, 2012 to prefund the 2013 and 2014 transfers as indicated in the
Facilities Management Plan.
Interest earnings are at 323% 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 2013 budget was amended to reflect costs associated with the Club Prior /library HVAC
repairs and upgrades which were started in 2012 but completed in 2013.
Two other major repair projects expected to be completed in conjunction with the Guaranteed
Energy Savings Program (GESP) include 1) Fire Station #1 — HVAC, DDC Controls, etc -
$136,500.; and 2) Maintenance Center — DDC Controls - $214,302. These projects were not
completed in 2013. Staff anticipates bringing an agenda item to the Council in spring 2014
which addresses GESP. Potential energy saving projects will be presented to the Council mid-
summer 2014.
Page 5
Water Fund
The financial report for the Water Fund reflects six billing cycles. Consumption decreased about
12% compared to 2012 however was at a typical level compared to other years. We
experienced an all -time high consumption in 2012. Water revenues are about 6% lower
compared to 2012 due to lower consumption despite rate increases that were effective in 2013.
Increased building permit activity resulted in a higher level of sales of water meters and
pressure reducers.
Interest earnings are at 104% 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.
Authorized expenditures for the Main/TH13 /Ridgemont, Welcome Avenue and CR12 Phase IV
projects are reflected in the capital improvements. The 2013 budget also included $200k for
replacing the watermain along TH13 from Rustic Road to Boudin's Street. The watermain
improvements were not completed in 2013 and have been delayed pending the completion of
the Water Plan which will define future needs (water demands; source, storage and treatment
needs, and distribution improvements). Final payment of $104k was authorized for the
Welcome Avenue Industrial improvements installed by CJF Holdings. In addition, upgrades
were made for the electronic meter reading system.
Sewer Fund
The financial report for the Sewer Fund reflects six billing cycles. Discharge decreased about
5% due to the wet season in 2013. Sewer revenues are about 2.5% lower compared to 2012
due to lower consumption despite rate increases that were effective in 2013 for both the MCES
Sewer charge and the City Sewer charge.
Interest earnings are at 82% 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.
Authorized expenditures for the CR12 Phase IV project is reflected in the capital improvements.
The 2013 budget also included $150k for inflow and infiltration improvements. These
improvements were not completed. Staff is in the process of televising all of the sewer lines in
the City over a 3 -year period (1/3 each year) to establish the overall condition index (OCI) as
well as a baseline to determine future needs. Upgrades were also made for the electronic
meter reading system.
Water Quality Fund
The financial report for the Water Quality Fund reflects six billing cycles. A rate increase was
implemented for the storm water charge. Water Quality revenues are based on flat rates per
billing cycle; therefore, revenues are 27% higher than 2012 due to the rate increase as well as
additional utility accounts. About $175k in grant funding has been received. Staff is in the
process of reviewing all grants to make sure all reimbursements associated with 2013 expenses
have been submitted.
Authorized expenditures for the Welcome Avenue project ($207k) is reflected in the capital
improvements. The 2013 budget also included $400k for pond system maintenance and repair.
Funding was reallocated from maintenance practices to the costs associated with flood
mitigation of Markley Lake including the Welcome Avenue pond ($157k increase) and
enhancements to ponding features in Eagle Creek Estates and Markley Lake Woods. The
schedule of these developments was originally anticipated to occur in 2013, however will now
occur in 2014.
Page 6
Transit Fund
All revenues for bus fares and state aid are reflected in the financial report for the Transit Fund
and exceed the budget. Bus fares are $26k higher than 2012. Revenues received from the
State of MN are about $145k or 30% higher than 2012.
Operating expenditures are lower than 2012 due in part to lower contributions to the Eagle
Creek and Southbridge facilities as well as a circulator study not being completed. The status of
capital improvements is as follows:
• The Marshall Road Transit Station repair project ($201,000) is underway, and likely to be
completed in 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 City Council approved an Assignment Agreement
to transfer CMAQ funds to the Met Council for the purchase of three (3) coach style
buses on February 24, 2014. There is no additional financial impact to the City's Transit
budget as a result of this Assignment Agreement.
• Southbridge Sealcoat ($16,000) - This project was completed by the end of the last
summer. Our share of the costs were covered with regional funds.
Economic Development Authority Special Revenue Fund
Property tax collections are at 98.6% of the annual EDA property tax levy.
Facility rental revenues reflect payments from six companies in the Technology Village
Business Incubator:
• design a tivity, Ilc
• Innovative Computer Professionals, Inc. (ICP)
• Argos Risk
• Black Dog Computer
• EC3 Marketing LLC
• VALDE
The EDA Fund reflects its share of the fair value adjustment for securities. As rates have
started to increase, the market value of the existing securities has declined. This is a paper
loss; no actual loss is realized because the City holds the securities until maturity.
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. Only $1,400 of the remaining $40k was spent during 2013. In addition, there will be
savings in other areas including legal, communications, training, etc. thus resulting in an overall
budget savings for the year.
Page 7
EDA Loan Programs
A Deferred Payment Agreement was entered into with the Artisan Bistro Cafe under Local
Program A of the City of Prior Lake Sewer & Water Fee Deferral Program on March 18, 2013.
The EDA funded the $6,000 City share of the loan which covers the fees for sewer connection,
water connection and water tower and therefore, reflects a loan receivable on its balance sheet
for this amount. Payments on the Met Council loan will be collected monthly and submitted to
the Met Council when invoiced. The first payment of $209.52 was due on June 1, 2013.
A Deferred Payment Agreement was entered into with the Honest -1 Auto Care under Local
Program A of the City of Prior Lake Sewer & Water Fee Deferral Program on July 11, 2013.
The EDA funded the $8,000 City share of the loan which covers the fees for sewer connection,
water connection and water tower and therefore, reflects a loan receivable on its balance sheet
for this amount. Payments on the Met Council loan will be collected monthly and submitted to
the Met Council when invoiced. The first payment of $279.36 was due on October 1, 2013.
The following table provides a status of the loans:
Business Original Loan Met Council Share City Share of Current Principal Interest
of Loan Loan Balance (City) Paid YTD
Artisan Bistro Cafe $11,844.00 $5,844.00 $6,000.00 $5,387.78 $96.83
Honest -1 Auto Care $15,792.00 $7,792.00 $8,000.00 $7,550.33 $88.28
Totals $27,636.00 $13,636.00 $14,000.00 $12,938.11 $185.11
If you have any questions regarding these financial reports, please contact me at 952.447.9841.
Page 8
0 1 ?wo
, City of Prior Lake
u t General Fund Summary
/ As of 12/31/2013
47 q°/ (Preliminary & Unaudited) ■ 'a 2, COMPARATIVE
Variance from Actual Variance
2013 2013 2013 Amended Budget - Percent of 12/31/2012 from 2012
Budget Amended Actual Positive (Negative) Budget Actual Positive (Negative)
Revenues
Taxes 7,151,439 7,151,439 7,131,105 (20,334) 100% 8,133,796 (1,002,691)
Licenses and permits 512,020 512,020 766,834 254,814 150% 640,584 126,250
Intergovernmental 1,402,721 1,402,721 1,510,840 108,119 108% 1,388,416 122,424
Charges for services 1,626,448 1,626,448 1,748,845 122,397 108% 1,716,455 32,390
Fines and forfeitures 155,000 155,000 137,529 (17,471) 89% 159,198 (21,669)
Interest on investments 181,000 181,000 (191,208) (372,208) -106% 197,812 (389,020)
Other 131,000 131,000 289,392 158,392 221% 300,309 (10,917)
Transfers from other funds 341,700 341,700 341,700 - 100% 335,000 6,700
Total revenues 11,501,328 11,501,328 11,735,037 233,709 102% 12,871,570 (1,136,533)
Expenditures
General government 2,573,630 2,676,697 2,723,537 (46,840) 102% 2,538,467 (185,070)
Public safety 4,681,978 4,681,978 4,677,040 4,938 100% 4,441,519 (235,521)
Public works 1,878,397 1,878,397 1,905,282 (26,885) 101% 1,714,167 (191,115)
Culture & recreation 1,746,982 1,746,982 1,691,481 55,501 97% 1,686,814 (4,667)
Natural resources 142,383 142,383 75,326 67,057 53% 125,118 49,792
Urban & economic development - - - - n/a 16,109 16,109
Subtotal 11,023,370 11,126,437 11,072,666 53,771 100% 10,522,194 (550,472)
Transfers to other funds 1,168,947 1,205,947 1,200,070 5,877 100% 3,124,228 1,924,158
Total expenditures 12,192,316 12,332,383 12,272,736 59,647 100% 13,646,422 1,373,686
Net change (690,988) (831,055) (537,699) (774,852)
Page 1of12
Ot PRI%
,, E City of Prior Lake
General Fund Revenues
As of 12/31/2013
" ^ s (Preliminary & Unaudited)
Variance from
2013 2013 2013 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
Property taxes
31010 Current taxes 6,506,012 6,506,012 6,414,435 (91,577) 99%
31012 Market value credit aid - - 433 433 n/a
31020 Delinquent taxes - - 79,901 ' 79,901 n/a
31040 Fiscal disparities 645,427 645,427 636,336 (9,091) 99%
7,151,439 7,151,439 7,131,105 (20,334) 100%
Licenses & permits
32100 Business licenses 1,050 1,050 1,800 750 171%
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 875 875 775 (100) 89%
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 369,250 369,250 528,701 159,451 143%
32215 Mechanical permits 29,850 29,850 91,938 62,088 308%
32230 Plumbing permits 27,375 27,375 47,818 20,443 175%
32231 Sewer /water inspection 2,500 2,500 10,287 7,787 411%
32240 Animal licenses 3,750 3,750 3,665 (85) 98%
32260 Burning permits 2,250 2,250 2,875 625 128%
512,020 512,020 766,834 254,814 150%
Intergovernmental revenue
33160 Federal Aids /grants 1,500 1,500 2,825 1,325 188%
33401 Local government aid 11,905 11,905 15,179 3,274 128%
33416 State aid - police training 8,246 8,246 7,860 (386) 95%
33418 State road & bridge aid 260,000 260,000 276,721 16,721 106%
33420 State fire aid - ins premium 143,000 143,000 206,356 63,356 144%
33421 State police aid - ins premium 155,000 155,000 166,484 11,484 107%
33422 State aids & grants 17,664 17,664 14,249 (3,415) 81%
33610 County /city aids & grants - - 15,000 15,000 n/a
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 400,000 400,000 400,000 - 100%
1,402, 721 1,402,721 1,510,840 108,119 108%
Charges for services
34103 Zoning & subdivision fees 7,810 7,810 23,177 15,367 297%
34104 Plan check fees 214,250 214,250 322,411 108,161 150%
34105 Sale of maps /publications 2,500 2,500 1,098 (1,402) 44%
34107 Assessment searches 400 400 240 (160) 60%
34109 Project admin /eng fees 376,000 376,000 363,462 (12,538) 97%
34203 Accident/warrant reports 300 300 1,260 960 420%
34303 Franchise fees 571,700 571,700 584,286 12,586 102%
34304 PEG access fees 31,000 31,000 33,471 2,471 108%
34731 Softball fees 28,000 28,000 28,785 785 103%
34735 Recreation program fees 56,000 56,000 42,855 (13,145) 77%
34740 Beach concessions 750 750 2,259 1,509 301%
34760 Facility rental 70,252 70,252 70,579 327 100%
34761 Studio /pavilion rental 15,000 15,000 14,378 (622) 96%
34762 Park shelter rental 7,000 7,000 11,011 4,011 157%
34765 Tower leases 199,986 199,986 200,128 142 100%
34780 Park admission fees 19,000 19,000 16,368 (2,632) 86%
34783 City Contract Services 26,500 26,500 33,077 6,577 125%
1,626,448 1,626,448 1,748,845 122,397 108%
Page 2of12
4 C of Prior Lake
u g General Fund Revenues
As of 12/31/2013
b 'N Scis'' (Preliminary & Unaudited)
Variance from
2013 2013 2013 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
Fines & forfeitures
35101 County court fines 110,000 110,000 93,083 (16,917) 85%
35104 Prosecution restitution 45,000 45,000 44,446 (554) 99%
155,000 155,000 137,529 (17,471) 89%
Miscellaneous revenues
36102 County Assess. Collection - - 6,538 6,538 n/a
36210 Interest earnings 181,000 181,000 112,826 (68,174) 62%
36211 Developer agreements 55,000 55,000 155,700 100,700 283%
36212 Miscellaneous revenue 65,000 65,000 88,173 23,173 136%
36225 Unrealized inv. Gain(loss) - - (304,034) (304,034) n/a
36230 Contributions & donations 11,000 11,000 38,981 27,981 354%
312,000 312,000 98,184 (213,816) 31%
Other financing sources
39203 Transfers from other funds 341,700 341,700 341,700 - 100%
341,700 341,700 341,700 - 100%
Total revenues 11,501,328 11,501,328 11,735,037 233,709 102%
Page 3of12
Of VRl0
8 . City of Prior Lake
u General Fund Expenditures
As of 12/3112013
''' sd`° (Preliminary & Unaudited)
Variance from
2013 2013 2013 Amended Budget - Actual
Budget Amended Actual Positive (Negative) Percent
General government
41110 Mayor & council 62,168 62,168 54,827 7,341 88%
41130 Ordinance 6,000 6,000 8,096 (2,096) 135%
41320 Administration 399,916 399,916 404,419 (4,503) 101%
41330 Boards & commissions 9,989 9,989 9,560 429 96%
41410 Elections - - - - n/a
41520 Finance 416,649 416,649 393,854 22,795 95%
41540 Internal auditing 25,000 25,000 24,890 110 100%
41550 Assessing 118,800 118,800 126,203 (7,403) 106%
41610 Legal 317,780 317,780 336,047 (18,267) 106%
41820 Personnel 145,807 145,807 133,750 12,057 92%
41830 Communications 117,951 117,951 115,053 2,898 98%
41910 Community development 338,301 368,613 355,591 13,022 96%
41920 Technology 179,757 252,512 271,003 (18,491) 107%
41940 Buildings & plant 435,512 435,512 490,244 (54,732) 113%
Total general government 2,573,630 2,676,697 2,723,537 (46,840) 102%
Public safety
42100 Police 3,282,062 3,282,062 3,243,647 38,415 99%
42200 Fire 857,539 857,539 902,224 (44,685) 105%
42400 Building inspection services 510,427 510,427 501,024 9,403 98%
42500 Emergency management 5,500 5,500 3,533 1,967 64%
42700 Animal control 26,450 26,450 26,612 (162) 101%
Total public safety 4,681,978 4,681,978 4,677,040 4,938 100%
Public works
43050 Engineering 336,917 336,917 337,290 (373) 100%
43100 Street 1,171,354 1,171,354 1,191,124 (19,770) 102%
43400 Central garage 370,126 370,126 376,868 (6,742) 102%
Total public works 1,878,397 1,878,397 1,905,282 (26,885) 101%
Culture /recreation
45100 Recreation 381,655 381,655 375,123 6,532 98%
45200 Parks 1,292,447 1,292,447 1,248,887 43,560 97%
45500 Libraries 72,880 72,880 67,471 5,409 93%
Total culture /recreation 1,746,982 1,746,982 1,691,481 55,501 97%
Natural resources
46100 Natural resources 142,383 142,383 75,326 67,057 53%
Total natural resources 142,383 142,383 75,326 67,057 53%
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 1,200,070 5,877 100%
Total expenditures 12,192,316 12,332,383 12,272,736 59,647 100%
Page 4 of 12
C 4tiv PilO't City of Prior Lake
Debt Service Funds
t.
As of 12/31/2013
so (Preliminary & Unaudited) Variance with
2013 2013 Budget - Actual
Budget Actual Positive (Negative) Percent
Revenues
Property taxes
31010 Current taxes 1,832,685 1,828,978 (3,707) 100%
Special assessments
36101 City Assess Collections - 715,997 715,997 n/a
36102 Special assessments 407,128 373,663 (33,465) 92%
Miscellaneous revenues
36210 Interest earnings 23,490 29,818 6,328 127%
36225 Unrealized Investment Gain /(Loss) - (72,524) (72,524) n/a
Other financing sources
39203 Transfers from other funds 1,878,640 1,876,876 (1,764) 100%
39310 Bond Proceeds - 59,200 59,200 n/a
Total revenues 4,141,943 4,812,008 670,065 116%
Expenditures
Debt Service
601 Principal 12,745,000 3,905,000 8,840,000 31%
611 Interest 1,607,210 1,234,386 372,824 77%
630 Other expenses 6,100 6,456 (356) 106%
14,358,310 5,145,842 9,212,468 36%
Total expenditures 14,358,310 5,145,842 9,212,468 36%
Net change (10,216,367) (333,834)
Page 5 of 12
�� pR`O C L
Revolving ity of Prior Equipment Fund
As of 12/31/2013
4 44 , N6sc (Preliminary & Unaudited) Variance with
2013 2013 2013 Budget - Actual
Budget Amended Actual Positive (Negative) Percent
Revenues
Property taxes
31010 Current taxes 280,000 280,000 279,595 (405) 100%
Miscellaneous revenues
36210 Interest earnings 19,732 19,732 23,435 3,703 119%
36225 Unrealized investment gain /(loss) - - (60,351) (60,351) n/a
Other financing sources
39102 Sale of property - - 3,510 3,510 n/a
39104 Forfeiture property sales - - 36,832 36,832 n/a
39203 Transfers from other funds 110,000 110,000 110,000 - 100%
Total revenues 409,732 409,732 393,021 (16,711) 96%
Expenditures
Public safety
42100 Police
450 Agency forfeit proceeds - - 21,320 (21,320) n/a
550 Motor vehicles 56,000 56,000 52,800 3,200 94%
580 General equipment - - 16,844 (16,844) n/a
56,000 56,000 90,964 (34,964) 162%
42200 Fire & Rescue 150,000 150,000 175 149,825 0%
Total public safety 206,000 206,000 91,139 114,861 44%
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 19,160 (4,160) 128%
Total public works 102,313 102,313 75,941 26,372 74%
Culture & recreation
45200 Parks
550 Motor vehicles 99,194 99,194 84,289 14,905 85%
580 General equipment 31,827 31,827 20,645 11,182 65%
Total culture & recreation 131,021 131,021 104,934 26,087 80%
Sewer Utility
580 General equipment 49,862 49,862 48,997 865 98%
Total expenditures 489,196 489,196 321,011 168,185 66%
Net change (79,464) (79,464) 72,010
Page 6 of 12
o f p1I °4 City of Prior Lake
Facilities Management Fund
As of 12/31/2013
b *MVES� r (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 10,212 7,048 323%
36225 Unrealized investment gain /(loss) - - (24,296) (24,296) n/a
Other financing sources
39203 Transfers from other funds 40,000 40,000 40,000 - 100%
Total revenues 43,164 43,164 25,916 (17,248) 60%
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 - 136,500 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 68,304 48,562 58%
48,536 118,174 69,612 48,562 59%
45500 Library
505 Professional services - 1,308 1,308 - 100%
520 Buildings & structures 48,536 116,866 68,407 48,459 59%
48,536 118,174 69,715 48,459 59%
Total culture & recreation 97,072 236,348 139,327 97,021 59%
Total expenditures 447,874 587,150 139,327 447,823 24%
Net change (404,710) (543,986) (113,411)
Page 7 of 12
of P oe City of Prior Lake
Water Fund
As of 12/31/2013
'y4mso,° (Preliminary & Unaudited) =COMPARATIVE .
Variance from Variance
2013 2013 Budget - Actual 12/31/2012 from 2012
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - water
37100 Water revenues 2,616,817 2,817,323 200,506 108% 2,994,393 (177,070)
37110 Capital facility revenue 234,000 243,202 9,202 104% 238,275 4,927
37140 Door hanger charges - 15,150 15,150 n/a 18,575 (3,425)
37150 Water reconnect charges 4,500 1,845 (2,655) 41% 4,240 (2,395)
37160 Penalties 35,000 31,653 (3,347) 90% 34,924 (3,271)
37170 Water meters 50,375 111,466 61,091 221% 99,809 11,657
37175 Pressure reducers 14,975 26,105 11,130 174% 26,339 (234)
37180 Frost plates - 30 30 n/a 8 22
37190 Misc revenue adjustments - 6 6 n/a (80) 86
Total water revenues 2,955,667 3,246,780 291,113 110% 3,416,483 (169,703)
Intergovernmental
33422 State Aids /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 51,973 1,973 104% 78,135 (26,162)
36212 Miscellaneous - 2,792 2,792 n/a 674 2,118
36225 Unrealized inv. gain (loss) - (124,824) (124,824) n/a (6,878) (117,946)
Total miscellaneous revenues 50,000 (70,059) (120,059) -140% 71,931 (141,990)
Total revenues 3,005,667 3,178,388 172,721 106% 3,498,414 (320,026)
Operating expenses
Personnel & current expenses
41520 Finance 79,515 80,333 (818) 101% 73,477 (6,856)
49400 Water 1,528,631 1,339,239 189,392 88% 1,364,539 25,300
Total operating expenses 1,608,146 1,419,572 188,574 88% 1,438,016 18,444
Capital improvements
49400 Water improvements 895,277 860,106 35,171 96% 670,054 (190,052)
Total capital improvements 895,277 860,106 35,171 96% 670,054 (190,052)
49303 Transfers to other funds 845,746 845,552 194 100% 817,628 (27,924)
Total expenses 3,349,169 3,125,230 223,939 93% 2,925,698 (199,532)
Net change (343,502) 53,158 572,716 (519,558)
Page 8 of 12
of rw °� City of Prior Lake
Sewer Fund
As of 12/31/2013
a,,,,m t• (Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2013 2013 Budget - Actual 12/31/2012 from 2012
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - sewer
37102 Sewer revenues 1,155,028 1,052,605 (102,423) 91% 1,077,143 (24,538)
37104 MCES revenues 1,243,423 1,128,635 (114,788) 91% 1,157,209 (28,574)
37110 Capital facility revenue 234,000 243,211 9,211 104% 238,275 4,936
37160 Penalties 35,000 28,981 (6,019) 83% 29,782 (801)
Total sewer revenues 2,667,451 2,453,432 (214,019) 92% 2,502,409 (48,977)
Intergovernmental
33422 State Aids /Grants - 1,667 1,667 n/a - 1,667
Total intergovermental - 1,667 1,667 0% - 1,667
Miscellaneous revenues
36210 Interest earnings 50,000 41,152 (8,848) 82% 64,857 (23,705)
36225 Unrealized inv. gain (loss) - (101,656) (101,656) n/a (5,196) (96,460)
Total miscellaneous revenues 50,000 (60,504) (110,504) -121% 59,661 (120,165)
Total revenues 2,717,451 2,394,595 (322,856) 88% 2,562,070 (167,475)
Operating expenses
Personnel & current expenses
41520 Finance 79,515 80,261 (746) 101% 73,476 (6,785)
49450 Sewer 2,214,425 1,846,002 368,423 83% 1,929,930 83,928
Total operating expenses 2,293,940 1,926,263 367,677 84% 2,003,406 77,143
Capital improvements
49450 Sewer improvements 295,565 76,501 219,064 26% 205,388 128,887
Total capital improvements 295,565 76,501 219,064 26% 205,388 128,887
49303 Transfers to other funds 328,957 328,862 95 100% 324,294 (4,568)
Total expenses 2,918,462 2,331,626 586,836 80% 2,533,088 201,462
Net change (201,011) 62,969 28,982 33,987
Page 9 of 12
of " City of Prior Lake
Water Quality Fund
As of 12/31/2013
40* (Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2013 2013 Budget- Actual 12/31/2012 from 2012
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - storm water
37120 Water quality revenue 677,295 702,529 25,234 104% 552,024 150,505
37160 Penalties - - - n/a 240 (240)
Total water quality revenues 677,295 702,529 25,234 104% 552,264 150,265
Miscellaneous revenues
36210 Interest earnings 7,016 4,920 (2,096) 70% 10,514 (5,594)
36225 Unrealized Inv Gain (Loss) - (13,875) (13,875) n/a (853) (13,022)
Total miscellaneous revenues 7,016 (8,955) (15,971) -128% 9,661 (18,616)
Intergovernmental Revenue
33160 Federal Grants - 75,487 75,487 n/a 25,752 49,735
33633 Watershed Dist Grants /Aids 50,000 100,000 50,000 200% 43,697 56,303
Total intergovemmental revenues 50,000 175,487 125,487 351% 69,449 106,038
Total revenues 734,311 869,061 134,750 118% 631,374 237,687
Operating expenses
Personnel & current expenses
49420 Water quality 541,373 479,617 61,756 89% 293,724 (185,893)
Capital improvements
49420 Water quality 645,000 207,000 438,000 32% 276,602 69,602
49303 Transfers to other funds - - - n/a 0
Total expenses 1,186,373 686,617 499,756 58% 570,326 (116,291)
Net change (452,062) 182,444 61,048 121,396
Page 10 of 12
e PR1 0 City of Prior Lake
4 Transit Fund
"" As of 12/31/2013
'MMSot* (Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2013 2013 Budget - Actual 12/31/2012 from 2012
Budget Actual Positive (Negative) Percent Actual Positive (Negative)
Operating revenues
Charges for services - transit revenue
38400 Bus fares 220,500 225,198 4,698 102% 198,805 26,393
38422 State transit aid 627,738 630,198 2,460 100% 485,016 145,182
Total transit revenues 848,238 855,396 7,158 101% 683,821 171,575
Miscellaneous revenues
36210 Interest earnings 33,000 27,408 (5,592) 83% 44,809 (17,401)
36225 Unrealized inv. gain (loss) - (67,531) (67,531) n/a (3,447) (64,084)
Total miscellaneous revenues 33,000 (40,123) (73,123) -122% 41,362 (81,485)
Total revenues 881,238 815,273 (65,965) 93% 725,183 90,090
Operating expenses
Personnel & current expenses
49804 Transit services 860,046 772,706 87,340 90% 804,365 31,659
Capital improvements
49804 Capital improvements 267,000 - 267,000 0% 32,310 32,310
Total expenses 1,127,046 772,706 354,340 69% 836,675 63,969
Net change (245,808) 42,567 (111,492) 154,059
Page 11 of 12
('S City of Prior Lake
I� Economic Development Authority Special Revenue Fund
As of12/31/2013
\<ANEsoji (Preliminary & Unaudited) Variance with
2013 2013 2013 Budget - Actual
Budget Amended Actual Positive (Negative) Percent
Revenues
Property taxes
31010 Current taxes 150,000 150,000 147,932 (2,068) 99%
Miscellaneous revenues
34760 Facility rentals 2,700 2,700 2,711 11 100%
3xxxx Loan administration 2,000 - - - n/a
36210 Interest earnings - - 339 339 n/a
36225 Unrealized investment gain /(loss) - - (847) (847) n/a
39203 Transfers from other funds - 37,000 32,599 (4,401) 88%
Total revenues 154,700 189,700 182,734 (6,966) 96%
Expenditures
Economic development
46500 Economic development 151,684 151,684 73,483 78,201 48%
46503 Technology village incubator - 37,000 35,245 1,755 95%
Total expenditures 151,684 188,684 108,728 79,956 58%
Net change 3,016 1,016 74,006
Page 12 of 12