HomeMy WebLinkAbout5D - Budget Amendment PRi°
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4646 Dakota Street SE
Prior Lake,MN 55372
41I/vNF.s02P
CITY COUNCIL AGENDA REPORT
MEETING DATE: JULY 14, 2014
AGENDA#: 5D
PREPARED BY: JERILYN ERICKSON, FINANCE DIRECTOR
PRESENTED BY: JERILYN ERICKSON
AGENDA ITEM: CONSIDER APPROVAL OF A RESOLUTION APPROVING AN AMENDMENT TO
THE 2014 BUDGET FOR PROJECT EXPENDITURES CARRIED FORWARD
FROM 2013
DISCUSSION: Introduction
The purpose of this agenda item is to consider an amendment to the 2014 General
Fund Parks budget and the Capital Park Fund budget to carry forward the funding
and expenditures associated with projects approved and originating in 2013 but will
be completed in 2014.
History
The 2014 budgets were adopted on December 9, 2013. Since the budget approval,
Parks project timelines have been revised due to seasonal fluctuations.
Current Circumstances
Capital Park Fund Budget
Two studies were approved in 2013: 1) Park Dedication Fee Evaluation and 2)
Trail and Sidewalk Study. Work on both studies commenced in 2013 and will be
completed in 2014. The total requested amendment for the Capital park Fund
budget is $20,436.
2014
Work Budget
Amount Completed Amend- 2014
Budget Item Authorized in 2013 ment Budget
2014 Pike Lake Master Plan $ 50,000 $ 0 $ 0 $ 50,000
2014 Park Improvements (Rice 120,000 0 0 120,000
Lake)
Park Dedication Fee Evaluation 15,755 1,294 14,461 14,461
and Update (Res#13-151)
Trail and Sidewalk Study (Res#13- 15,000 9,025 5,975 5,975
149)
Total $200,755 $ 10,319 $ 20,436 $ 190,436
General Fund Parks Budget
The costs for various budget items are summarized below. Staff is requesting the
2014 budget be amended to address two items. The first is the carry forward for
three parks projects that were initiated in 2013 but were not completed due to sea-
sonal changes. These projects include Enclave Park, Lakefront Storage Building,
and our trail and sidewalk work. The second item is the addition of work associated
with the SMSC Donation for construction of a segment of trail along CR21. The to-
tal requested amendment for the General Fund Parks budget is $82,519.
A budget amendment was approved in February, 2014 to account for the Pike Lake
Park Trail grant received from the SMSC. The total 2014 amended budget for park
and trail improvements will be $343,519.
Work 2014
Corn- Budget
Amount pleted in Amend- 2014
Budget Item Authorized 2013 ment Budget
2013 Parks—Capital Improve-
ments (Includes Lakefront Stor- $ 257,897 $ 201,378 $ 56,519 $ 56,519
age Building)
CR21 Trail 26,000 0 26,000 26,000
(SMSC Donation)
2014 Parks Replacement Plan 185,000 0 0 185,000
Pike Lake Park Trail 76,000 0 0 76,000
(SMSC Grant)
Total $ 544,897 $ 201,379 $ 82,519 $ 343,519
Staff anticipates carrying forward project expenditures in the Facilities Management
Fund but will do so after the results of the Investment Grade Audit associated with
the Guaranteed Energy Savings Program (GESP) have been reviewed.
Conclusion
The Council should consider amending the budgets in order to reflect expenditures
authorized in 2013 that will be completed in 2014.
ISSUES: The parks staff typically completes project work in starting late summer through the
fall as summer work (turf maintenance, landscaping, etc.) slows thus maximizing
staff resources. As the seasons change and field conditions do not allow further
progress, work is postponed to the following year. In 2013 there were three pro-
jects that require additional work in 2014, Enclave Park, Lakefront Storage Building,
and Trail Maintenance. In addition, the City received funds from the SMSC to com-
plete a section of trail along CR21. Work was initiated in 2013, however due to the
early winter conditions, staff was not able to complete the bituminous work. This
work will be completed as traffic conditions allow on CR21 (pending lifted road clo-
sures).
FINANCIAL To accurately reflect expenditures on the quarterly financial reports, the budget
IMPACT: should be amended in the amount of$20,436 and $82,519 for the Capital Park
Fund and General Fund Parks Department, respectively. Funding that was availa-
ble but unused in 2013 for these projects was carried forward as part of the re-
serves for each of these Funds. For the Lakefront Storage Building, contributions
from the project partners are intended to offset city costs and will be deposited into
the General Fund revenue account.
ALTERNATIVES: 1. Motion and second as part of the consent agenda to approve a resolution ap-
proving an amendment to the 2014 Capital Park Fund and General Fund Parks
Department budgets.
2
2. Deny this item for a specific reason and provide staff with direction.
3. Table this item to a certain date in the future.
RECOMMENDED Alternative#1.
MOTION:
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PRjn
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4646 Dakota Street SE
4iINNESOcP Prior Lake, MN 55372
RESOLUTION 14-xxx
A RESOLUTION APPROVING AN AMENDMENT TO THE 2014 BUDGET FOR PROJECT
EXPENDITURES CARRIED FORWARD FROM 2013
Motion By: Second By:
WHEREAS, The 2014 Capital Park Fund and General Fund budgets were adopted on December 9, 2013;
and
WHEREAS, The 2014 Capital Park Fund and General Fund budgets do not reflect the revenues and
expenditures associated with Park Dedication Fee Evaluation, Trail and Sidewalk Study,
Lakefront Storage Building, Enclave Park, and trail and sidewalk work. These costs were
originally included in the 2013 budget; and
WHEREAS, The City has entered into agreements for certain services and improvements during 2013; and
WHEREAS, The work for each of these projects was not completed in 2013 but will be completed in 2014.
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE,
MINNESOTA as follows:
1. The recitals set forth above are incorporated herein.
2. The 2014 Capital Park Fund and General Fund Parks Department budgets are amended in the amount
of$20,436 and $82,519, respectively, for the remaining work to be completed in 2014.
3. Funding will be provided by the respective Fund reserves and project partner contributions.
PASSED AND ADOPTED THIS 14th DAY OF JULY 2014.
VOTE Hedberg Keeney McGuire Morton Soukup
Aye ❑ ❑ ❑ ❑ ❑
Nay ❑ ❑ ❑ ❑ ❑
Absent ❑ ❑ ❑ 0 0
Abstain 0 0 0 0 0
Frank Boyles, City Manager