HomeMy WebLinkAbout5E 1st Quarter 2015 Financial Report PRip600i
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4646 Dakota Street SE
AtMxssolt" Prior Lake,MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: MAY 11, 2015
AGENDA#: 5E
PREPARED BY: CATHY ERICKSON, ACCOUNTING MANAGER
PRESENTER: CATHY ERICKSON
AGENDA ITEM: CONSIDER APPROVAL OF THE 1ST QUARTER 2015 FINANCIAL
REPORT
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
March 31, 2015 for the following funds:
• General Fund
• Debt Service Funds
• Cable Fund
• Capital Park Fund
• Revolving Equipment Fund
• Facilities Management Fund
• Water Fund
• Sewer Fund
• Water Quality Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity for the first three
months of 2015. 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 for the General Fund and
Enterprise Funds.
If council members have questions please feel free to contact me at 952-
447-9842 for more information.
ALTERNATIVES: 1. A motion to accept the March 31, 2015 Financial Report as submitted
as part of the Consent Agenda.
2. Take no action and provide the staff with specific direction.
RECOMMENDED Alternative 1.
MOTION:
of plop MEMORANDUM
DATE: May 11, 2015
TO: Prior Lake City Council
'" sdo• FROM: Cathy Erickson, Accounting Manager
RE: Financial Report dated 03/31/2015
The financial reports presented as part of this agenda item reflect activity during the first three
months of 2015. The significant issues identified at this time are summarized below.
General Fund Summary
Preliminary financial information reflects expenditures exceeding revenues by $1,092,000. This
is to be expected since property tax revenues, which are the primary funding source for the
General Fund, are not received until June. The 2015 budget did not anticipate using fund
balance reserves. The 2015 budget had been amended to use additional reserves primarily for
projects carried forward from 2014. The revised planned use of reserves is $225,548.
($308,877 for uses of funds less $88,329 for sources of funds from FEMA/Grants.)
Key points for first quarter:
• No property tax receipts until June;
• Building permit activity is significantly higher than 2014
• Charges for services are slightly higher;
• Fines and forfeiture revenues are significantly lower;
• Interest revenues are significantly higher due to increase in market value of securities;
and
Expenditures are lower than 1st quarter 2014 due to lower personnel and fuel costs.
General Fund Revenues
Property taxes are received in June and December. Revenues from taxes are recognized on a
cash basis and not on an accrual basis for the General Fund. Therefore, tax revenues will not
be reflected in the financial reports until June.
Single family building permits are budgeted at 160 for 2015. Building permit activity is
significantly higher than first quarter 2014 for single family homes but down 8%for additions and
alterations. The following table provides a breakdown of the first quarter activity by year:
2015 32 0 6 221 259 3%
2014 13 0 0 239 252 43%
2013 36 8 1 398 443 39%
2012 16 3 0 300 319 12%
The average value associated with the single family permits is $329k which is lower than the
average for single family permits in Q1 2014 ($366k). As of April 30, 2015, forty (40) single
family permits and zero townhouse permits have been issued.
The first half payments were received for Municipal State Aid (road maintenance) and the
township fire agreements.
Page 2
First quarter Franchise fees and PEG fees collected in April have not been included in this
report.
Tower lease revenues reflect seven of thirteen agreements in place.
Court fines are significantly lower than 1st quarter 2014. This is due to the operations
change/amendment to the JPA for prosecution services. With the change, the cities are no
longer making contributions (not paying the attorneys as they are now employees of Scott
County), and the cities are not receiving the related revenue/court fines. The fines received at
each city will be remitted to the Scott County Attorney's office according to the operations
change/merger.
Interest earnings are at 24 percent of the budget. The report also reflects a $258k increase in
the fair value of the securities above their cost. As long-term rates have decreased during first
quarter, the market value of the existing securities have increased. This is a paper gain; no
actual gain is realized because the City holds the securities until maturity.
General Fund Expenditures
General Fund expenditures for 2015 represent 16 percent of the $12,872,822 amended budget.
The level of expenditures (as a percent of budget) is slightly below the same period during the
past four years (typically ranges from 18-20%). This is primarily due to the following items:
• The 2015 budget was amended to include additional expenditures of$308,877, none of
which have been incurred in the 1St quarter of 2015. Without the impact of the budget
amendments, the General Fund expenditures for 2015 would represent 17% of the
budget.
• Expenditures in general government and public safety are lower than 1Q 2014 due to
multiple factors including 1) vacant positions (Assistant City Manager, Policy Chief and
open patrol position), 2)Teamsters/LELS labor agreements 2015 retro pay completed in
April 2015 (part of 2nd quarter) 3) 1Q 2014 included 50k for technology investments for
host servers and nimble storage area.
• Fuel costs are lower in 1Q 2015 as compared to 1Q 2014. There were 19 snow events
that occurred 1Q 2014 as compared to 13 that occurred 1Q 2015.
• Additionally, Parks expenditures are lower than 1Q 2014. This is primarily due lower
seasonal staff and fuel costs as there were less snow events in 1Q 2015 as compared to
1Q 2014, and 1Q 2014 included $26k of expenditures for the construction of the
Lakefront storage building
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 30% of the budget.
One regularly scheduled bond payment was made in February. The majority of bond payments
are due on the 1st and 15th of June and December.
Capital Park Fund
The 2015 budget had been amended by $170,000 for two projects carried forward from 2014:
1) Pike Lake Master Plan and 2) Rice Lake Park improvements. Interest earnings are at 48% of
the budget. Facility rental income is at 25% of the 2015 budget.
Page 3
In February, Council authorized preliminary funding for the City Project (TRN14-000001) Maple
Lane, Mushtown Road, Panama Avenue Improvement project. Therefore, a transfer to this
project was made in the amount of$62,356.
Revolving Equipment Fund
The 2015 budget had been amended by $109,355 for specific cost associated with the
replacement of the 1999 Sterling dump truck (unit#466) carried forward from 2014. Property
taxes are received in June, December and January (final tax settlement).
Vehicle and equipment purchases were approved at the February 9th Council meetings and
several of the approved purchases have occurred in 1st quarter and are reflected on the
financial report.
Facilities Management Fund
The Council approved a contract with Honeywell as part of the Guaranteed Energy Savings
Program (GESP) to complete improvements to many of our facilities. The Council also
approved a lease agreement with US Bank for$2,667,924 to fund these improvements in 2014.
The projects originally included in the 2014 budget have either been incorporated into the GESP
or will be addressed as a separate project in the 2015 budget.
Water Fund
The financial report for the Water Fund reflects only one billing cycle and water revenues are
about 12% higher than the same period in 2014. Water rates were increased effective January
1, 2015. Consumption was .09% lower than 1Q 2014.
Personal services and operating expenditures are slightly higher than 1Q 2014. Costs
associated with capital improvements are typically incurred during the summer and fall.
In March, Council authorized preliminary funding for the City Project (TRN15-000004) Highland,
Marsh, Skyline, Grainwood, Eau Claire Improvement project. Therefore, a transfer was made in
the amount of$673,424. Operational budgetary transfers were also made according to the 2015
approved budget.
Sewer Fund
The financial report for the Sewer Fund reflects only one billing cycle. City sewer and MCES
sewer revenues are each about 3% higher than the same period in 2014. The MCES sewer
rate and City sewer rate were increased effective January 1, 2015. Discharge was about .14%
lower than 1Q 2014.
Operating expenditures are slightly lower than 1Q 2014. Costs associated with capital
improvements are typically incurred during the summer and fall.
In March, Council authorized preliminary funding for the City Project (TRN15-000004) Highland,
Marsh, Skyline, Grainwood, Eau Claire Improvement project. Therefore, a transfer was made in
the amount of$837,460. Operational budgetary transfers were also made according to the
2015 approved budget.
Water Quality Fund
The financial report for the Water Quality Fund reflects only one billing cycle and is about 3%
higher than the same period in 2014. The storm water rate was increased effective January 1,
2014.
Page 4
Operating expenditures are $233k higher than 1Q 2014 primarily due to preliminary funding for
City projects, as noted below:
In February and March, Council authorized preliminary funding for the City Projects (TRN15-
000004 &TRN14-000001) Highland, Marsh, Skyline, Grainwood, Eau Claire Improvement
project and Maple Lane, Mushtown Road and Panama Avenue. Therefore, transfers were
made in the amount of$180,884 and $61,917. Operational budgetary transfers were also made
according to the 2015 approved budget.
Transit Fund
The City Council approved a merger with the Minnesota Valley Transit Authority (MVTA),
effective January 1, 2015.
Economic Development Authority Special Revenue Fund
Property taxes are received in June, December and January (final tax settlement). Interest
earnings are at 141% of the budget.
Personnel, and expenditures for professional services regarding the downtown parking study
comprise the majority of the expenditures.
If you have any questions regarding these financial reports, please contact me at 952.447.9842.
Page 5
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O, PRJ City of Prior Lake
General Fund Revenues
6 As of 3/31/2015
(Preliminary&Unaudited)
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Taxes
101 31010.00 Current Property Taxes -General Purpos 7,421,246.00 7,421,246.00 - (7,421,246) 0%
101 31040.00 Fiscal Disparities 685,977.00 685,977.00 - (685,977) 0%
Taxes 8,107,223.00 8,107,223.00 - (8,107,223) 0%
Licenses and Permits
101 32100.00 Business Licenses 1,200 1,200 1,000 (200) 83%
101 32110.00 Liquor Licenses 64,420 64,420 455 (63,965) 1%
101 32160.00 Refuse Haulers 4,000 4,000 - (4,000) 0%
101 32170.00 Outdoor Concert Permits 1,050 1,050 - (1,050) 0%
101 32180.00 Cigarette Licenses 2,250 2,250 2,250 - 100%
101 32210.00 Building Permits 470,060 470,060 89,401 (380,659) 19%
101 32211.00 Retainage Forfeiture - - 2,000 2,000 n/a
101 32215.00 Mechanical Permits 43,720 43,720 8,942 (34,778) 20%
101 32230.00 Plumbing Permits 41,245 41,245 9,289 (31,957) 23%
101 32231.00 Sewer/Water Inspection 7,500 7,500 1,751 (5,750) 23%
101 32232.00 Plumbing Registrations 1,300 1,300 825 (475) 63%
101 32240.00 Animal Licenses 3,750 3,750 2,420 (1,330) 65%
101 32260.00 Burning Permits 2,250 2,250 575 (1,675) 26%
Licenses and Permits 642,745 642,745 118,907 (523,838) 18%
Intergovernmental
101 33160.10 Fed Aids/Grants-Operating Grants - 4,382 - (4,382) 0%
101 33160.11 Fed Aids/Grants-Operating Police 3,500 3,500 - (3,500) 0%
101 33401.00 Local Government Aid 52,680 52,680 - (52,680) 0%
101 33416.01 State Aid-Police Train 7,800 7,800 - (7,800) 0%
101 33416.02 State Police Aid-Ins Prem 175,000 175,000 - (175,000) 0%
101 33418.00 State Road&Bridge Aid 288,000 288,000 158,414 (129,587) 55%
101 33420.00 State Fire Aid-Ins.Prem. 209,000 209,000 - (209,000) 0%
101 33422.10 State Aids/Grants-Operating Grants - 6,800 - (6,800) 0%
101 33620.00 Township Fire&Resc Aid 282,002 282,002 139,547 (142,455) 49%
101 33621.00 Liaison Aid 45,860 45,860 - (45,860) 0%
101 33631.00 Payment in Lieu of Taxes 420,000 420,000 105,000 (315,000) 25%
101 33700.23 Miscellaneous Grants-Capital Parks - 72,147 - (72,147) 0%
Intergovernmental 1,483,842 1,567,171 402,961 (1,164,211) 26%
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 - (595,000) 0%
101 34103.00 Zoning&Subdivision Fees 7,810 7,810 3,527 (4,284) 45%
101 34104.00 Plan Check Fees 291,420 291,420 54,599 (236,822) 19%
101 34105.00 Sale of Maps/Publications-Reports 1,000 1,000 879 (121) 88%
101 34107.00 Assessment Searches-Reports 400 400 80 (320) 20%
101 34109.00 Project Admin/Eng Fees 300,000 300,000 70,047 (229,953) 23% ,
101 34203.00 Accident/Warrant Reports-Reports 900 900 - (900) 0%
101 34304.00 PEG Access Fees 34,000 34,000 - (34,000) 0%
101 34731.00 Softball Fees 28,000 28,000 20,906 (7,094) 75%
101 34735.00 Recreation Program Fees 35,000 35,000 17,908 (17,093) 51%
101 34740.00 Concessions-Park Fees 750 750 - (750) 0%
101 34760.01 Facility Rental-Regular 71,520 71,520 18,290 (53,230) 26%
101 34761.00 Studio/Pavilion Rental 15,000 15,000 10,027 (4,973) 67%
101 34762.00 Park Shelter Rental 8,250 8,250 3,938 (4,312) 48%
101 34765.01 Tower Leases 202,065 202,065 93,518 (108,547) 46%
101 34780.00 Park Admission Fees 10,000 10,000 1,319 (8,681) 13%
101 34783.00 City Contract Services 43,500 43,500 - (43,500) 0%
Charges for Services 1,644,615 1,644,615 295,037 (1,349,578) 18%
Fines and Forfeitures
101 35101.00 County Court Fines - - 350 350 n/a
101 35104.00 Prosecution Restitution - - - - n/a
Fines and Forfeitures - - 350 350 n/a
O, PR/0 City of Prior Lake
General Fund Revenues
1 As of 3/31/2015
(Preliminary&Unaudited)
4.JNNEs��
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Interest(losses)on investments
101 36210.00 Interest Earnings 120,000 120,000 28,715 (91,285) 24%
101 36225.00 Unrealized lnv.Gain(Loss) - - 57,751 57,751 n/a
Interest(losses)on investments 120,000 120,000 86,467 (33,533) 72%
Other Miscellaneous Revenues
101 36102.00 County Assess.Collection 35,000 35,000 - (35,000) 0%
101 36211.00 Developer Agreements 70,000 70,000 - (70,000) 0%
101 36212.00 Miscellaneous Revenue 94,000 94,000 6,731 (87,269) 7%
101 36230.00 Contributions&Donations 11,000 11,000 393 (10,607) 4%
Other Miscellaneous Revenues 210,000 210,000 7,124 (202,876) 3%
Other financing sources
101 39203.00 Transfer from Other Funds 355,520 355,520 88,880 (266,640) 25%
Transfers in 355,520 355,520 88,880 (266,640) 25%
Total Revenues 12,563,945 12,647,274 999,725 (11,647,549) 8%
0.4 PRtp, City of Prior Lake
General Fund Expenditures
f.�' 1 As of 3/31/2015
1.4 (Preliminary&Unaudited)
'��ivtvEs�r
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Function:General Government
41110.00 MAYOR&COUNCIL 55,390 55,390 10,315 45,075 19%
41130.00 ORDINANCE 7,500 7,500 1,913 5,587 26%
41320.00 ADMINISTRATION 384,759 384,759 90,139 294,620 23%
41330.00 BOARDS&COMMISSIONS 10,339 10,339 1,423 8,917 14%
41410.00 ELECTIONS 75,000 75,000 - 75,000 0%
41520.00 FINANCE 434,684 434,684 85,555 349,129 20%
41530.00 ACCOUNTING - - 182 (182) n/a
41540.00 INTERNAL AUDITING 29,950 29,950 18,040 11,910 60%
41550.00 ASSESSING 152,250 152,250 - 152,250 0%
41610.00 LEGAL 215,000 215,000 47,680 167,320 22%
41820.00 HUMAN RESOURCES 160,221 160,221 19,715 140,506 12%
41830.00 COMMUNICATIONS 122,301 122,301 25,952 96,349 21%
41910.00 COMMUNITY DEVELOPMENT 307,993 307,993 56,903 251,090 18%
41920.00 INFORMATION TECHNOLOGY 263,996 306,891 83,452 223,439 27%
41940.00 FACILITIES-CITY HALL 513,457 513,457 70,222 443,235 14%
Total-Function General Government 2,732,840 2,775,735 511,490 2,264,245 18%
Function:Public Safety
42100.00 POLICE 3,364,784 3,364,784 711,842 2,652,942 21%
42200.00 FIRE 883,855 883,855 153,659 730,196 17%
42400.00 BUILDING INSPECTION 577,443 577,443 107,501 469,942 19%
42500.00 EMERGENCY MANAGEMENT 10,025 10,025 430 9,595 4%
42700.00 ANIMAL CONTROL 25,257 25,257 4,200 21,057 17%
Total-Function Public Safety 4,861,364 4,861,364 977,632 3,883,732 20%
Function:Public Works
43050.00 ENGINEERING 380,147 380,147 65,587 314,560 17%
43100.00 STREET 1,346,321 1,462,660 211,723 1,250,937 14%
43400.00 CENTRAL GARAGE 369,791 369,791 73,137 296,654 20%
Total-Function Public Works 2,096,259 2,212,598 350,447 1,862,151 16%
Function:Culture and Recreation
45100.00 RECREATION 359,377 359,377 60,580 298,797 17%
45200.00 PARKS 1,331,676 1,552,643 174,981 1,377,662 11%
45500.00 LIBRARIES 66,760 66,760 15,687 51,073 23%
46100.00 NATURAL RESOURCES 79,824 - - - n/a
Total-Function Culture and Recreation 1,837,637 1,978,780 251,248 1,727,532 13%
00000.00 Transfer to Other Funds 1,035,845 1,035,845 - 1,035,845 0%
Function:Contingent Reserve
49999.00 CONTINGENT RESERVE - 8,500 750 7,750 9%
Total-Function Contingent Reserve - 8,500 750 7,750 9%
Total Expenditures 12,563,945 12,872,822 2,091,567 10,781,255 16%
r
0. pgjQ+ City of Prior Lake
Debt Service Funds
f-tl As of 3/31/2015
(Preliminary&Unaudited)
4"1/vtirsacO'
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Property Taxes
Current Property Taxes 1,877,863 1,877,863 - (1,877,863) 0%
Special Assessments
City Assess.Collections - - 52,000 52,000 n/a
County Assess.Collection 401,346 401,346 - (401,346) 0%
Interest(losses)on investments
Interest Earnings 26,527 26,527 7,939 (18,588) 30%
Unrealized Inv.Gain(Loss) - - 15,276 15,276 n/a
Miscellaneous Revenues
Miscellaneous Revenues 68,926 68,926 - (68,926) 0%
Transfers in
Transfer from Other Funds 1,670,085 1,670,085 - (1,670,085) 0%
Total Revenues 4,044,747 4,044,747 75,215 (3,969,532) 2%
Expenditures
Debt Service
Principal 3,203,474 3,203,474 135,000 3,068,474 4%
Interest and Other 1,053,135 1,053,135 8,185 1,044,950 1%
Total Expenditures 4,256,609 4,256,609 143,185 4,113,424 3%
Net Change (211,862) (211,862) (67,970)
C pgl0�
0City of Prior Lake
Cable Fund
M As of 3/31/2015
(Preliminary&Unaudited)
cvssole.
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Charges for Services
210-41340.00-34304.00 PEG Access Fees 5,133 5,133 - (5,133) 0%
Total Revenues 5,133 5,133 - (5,133) 0%
Expenditures
Capital Outlay
210-41340.00-55530.00 Infrastructure 7,000 7,000 - 7,000 0%
Total Expenditures 7,000 7,000 - 7,000 0%
Net Change (1,867) (1,867) -
OF YRlp� City of Prior Lake
Capital Park Fund
H As of 3/31/2016
U P (Preliminary&Unaudited)
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental-Regular 23,400 23,400 5,850 (17,550) 25%
225-45200.00-34791.00 Dedication Fees 138,750 138,750 - (138,750) 0%
Charges for Services 162,150 162,150 5,850 (156,300) 4%
Interest(losses)on investments
225-00000.00-36210.00 Interest Earnings 7,000 7,000 3,378 (3,622) 48%
225-00000.00-36225.00 Unrealized lnv.Gain(Loss) _ - - 6,863 6,863 n/a
Interest(losses)on investments 7,000 7,000 10,241 3,241 146%
Contributions and donations
225-00000.00-36230.00 Contributions&Donations - - 1,050 1,050 n/a
Contributions and donations - - 1,050 1,050 n/a
Total Revenues 169,150 169,150 17,141 (152,009) 10%
Expenditures
59203.00 Transfers to Other Funds - - 62,356 (62,356) n/a
55530.00 Infrastructure 50,000 220,000 194 219,806 0%
Total Expenditures 50,000 220,000 62,550 157,450 28%
Net Change 119,150 (50,850) (45,408)
. p. Rt0$ City of Prior Lake
O
�. Revolving Equipment Fund
As of 3/31/2015
ti (Preliminary&Unaudited)
e'oNwcsceiw Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 250,000 250,000 - (250,000) 0%
Taxes 250,000 250,000 - (250,000) 0%
Interest(losses)on investments
410-00000.00-36210.00 Interest Earnings 20,151 20,151 5,852 (14,299) 29%
410-00000.00-36225.00 Unrealizedlnv.Gain(Loss) - - 11,101 11,101 n/a
Interest(losses)on investments 20,151 20,151 16,953 (3,199) 84%
Sale of assets
410-00000.00-39102.00 Sale of Property 31,000 31,000 - (31,000) 0%
Sale of assets 31,000 31,000 - (31,000) 0%
Other
410-42100.06-39104.00 Forfeiture Property Sales 31,827 31,827 17,919 (13,908) 56%
Other 31,827 31,827 17,919 (13,908) 56%
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 141,000 141,000 35,250 (105,750) 25%
Transfers in 141,000 141,000 35,250 (105,750) 25%
Total Revenues 473,978 473,978 70,121 (403,857) 15%
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 115,600 115,600 548 115,052 0%
410-42100.06-54350.00 Agency Forfeit Proceeds - - 8,713 (8,713) n/a
Fire
410-42200.00-55550.00 Vehicles 150,950 150,950 28,321 122,629 19%
Total Public Safety 266,550 266,550 37,582 228,968 14%
Public Works
Street
410-43100.00-55550.00 Vehicles 310,500 419,855 199,186 220,669 47%
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 6,164 13,836 31%
Total Public Works 330,500 439,855 205,350 234,505 47%
Culture and Recreation
410-45200.00-55550.00 Vehicles 108,000 108,000 80,284 27,716 74%
Total Culture&Recreation 108,000 108,000 80,284 27,716 74%
Water
410-49400.00-55550.00 Vehicles - 25,000 - 25,000 0%
410-49400.00-55570.00 Machinery and Equipment - 15,000 - 15,000 0%
Water Quality
410-49420.00-55550.00 Vehicles 73,500 73,500 89,831 (16,331) 122%
Sewer
410-49450.00-55570.00 Machinery and Equipment 40,000 - - - n/a
Total Utility 113,500 113,500 89,831 23,669 79%
Total Expenditures 818,550 927,905 413,047 514,858 45%
Net Change (344,572) (453,927) (342,926)
O* Pittlp� City of Prior Lake
.�. Facilities Management Fund
u As of 3/31/2015
[[[��� (Preliminary&Unaudited)
a4rhvivEwe Variance from
2015 2015 2015 Amended Budget %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Interest(losses)on investments
440-00000.00-36210.00 Interest Earnings 11,458 11,458 3,454 (8,004) 30%
440-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 6,447 6,447 n/a
Interest(losses)on investments 11,458 11,458 9,901 (1,557) 86%
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 50,000 50,000 12,500 (37,500) 25%
Transfers in 50,000 50,000 12,500 (37,500) 25%
Debt Issued
440-00000.00-39310.00 G.O.Bond Proceeds 600,000 600,000 - (600,000) 0%
Debt Issued 600,000 600,000 - (600,000) 0%
Total Revenues 661,458 661,458 22,401 (639,057) 3%
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 81,381 81,381 - 81,381 0%
41910.00 COMMUNITY DEVELOPMENT - - 827 (827) n/a
41960.00 GESP 2,667,924 2,667,924 50,072 2,617,852 2%
Total-Function General Government 2,749,305 2,749,305 50,899 2,698,406 2%
Function:Public Safety
42200.00 FIRE 87,056 87,056 - 87,056 0%
Total-Function Public Safety 87,056 87,056 - 87,056 0%
Function:Public Works
43400.00 CENTRAL GARAGE 598,933 598,933 - 598,933 0%
Total-Function Public Works 598,933 598,933 - 598,933 0%
Function:Culture and Recreation
45100.00 RECREATION 55,562 55,562 - 55,562 0%
45500.00 LIBRARIES 55,562 55,562 - 55,562 0%
Total-Function Culture and Recreation 111,124 111,124 - 111,124 0%
Total Expenditures 3,546,418 3,546,418 50,899 3,495,519 1%
Net Change (2,884,960) (2,884,960) (28,498)
4PFUt) City of Prior Lake
Water Fund
As of 3/31/2015
(Preliminary&Unaudited) COMPARATIVE
Variance from Variance
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 03/31/2014 Positive(Negative)
Revenues
Interest(losses)on investments
601-00000.00-36210.00 Interest Earnings 60,000 60,000 17,158 (42,842) 29% 14,757 2,401
601-00000.00-36225.00 Unrealizedlnv.Gain(Loss) - - 28,730 28,730 n/a 47,602 (18,871)
Interest(losses)on investments 60,000 60,000 45,888 (14,112) 76% 62,359 (16,471)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 100 100 n/a 100 -
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 8 8 n/a 3 5
Miscellaneous Revenues - - 108 108 n/a 103 5
Water Charges
601-49400.00-37100.00 Utility Receipts-Water 3,253,750 3,253,750 356,548 (2,897,202) 11% 314,142 42,407
601-49400.00-37160.00 Penalties 7,000 7,000 2,560 (4,440) 37% 1,425 1,135
Water Charges 3,260,750 3,260,750 359,108 (2,901,642) 11% 315,566 43,542
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 247,080 247,080 41,856 (205,224) 17% 41,034 822
Capital Facility charges 247,080 247,080 41,856 (205,224) 17% 41,034 822
Meter Sales
601-49400.00-37170.00 Water Meter Sales 93,400 93,400 19,165 (74,235) 21% 12,226 6,938
601-49400.00-37175.00 Pressure Reducers 24,750 24,750 5,049 (19,701) 20% 2,260 2,789
601-49400.00-37180.00 Frost Plates - - (0) (0) n/a 38 (38)
Meter Sales 118,150 118,150 24,213 (93,937) 20% 14,524 9,689
Total Revenues 3,685,980 3,685,980 471,174 (3,214,806) 13% 433,586 37,588
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 804,695 804,695 742,864 61,831 92% 66,068 (676,797)
41520.00 FINANCE 86,090 86,090 15,458 70,632 18% 18,038 2,580
Total-Function General Government 890,785 890,785 758,322 132,463 85% 84,106 (674,216)
Function:Water
49400.00 WATER 4,837,551 4,851,321 282,201 4,569,120 6% 345,315 63,114
Total-Function Water 4,837,551 4,851,321 282,201 4,569,120 6% 345,315 63,114
Total Expenditures 5,728,336 5,742,106 1,040,523 4,701,583 18% 429,421 (611,102)
Net Change (2,042,356) (2,056,126) (569,349) 4,165
acs.",/ City of Prior Lake
Sewer Fund
As of 3/31/2015
(Preliminary&Unaudited) COMPARATIVE
4��rvssVariance from Variance
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 03/31/2014 Positive(Negative)
Revenues
Interest(losses)on investments
604-00000.00-36210.00 Interest Earnings 52,000 52,000 10,141 (41,859) 20% 11,331 (1,190)
604-00000.00-36225.00 Unrealized lnv.Gain(Loss) - - 17,966 17,966 n/a 36,331 (18,366)
Interest(losses)on investments 52,000 52,000 28,107 (23,893) 54% 47,662 (19,555)
Sewer Charges
604-49450.00-37102.00 Utility Receipts-Sewer 1,437,028 1,437,028 168,107 (1,268,921) 12% 163,181 4,926
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,536,624 1,536,624 178,918 (1,357,706) 12% 174,790 4,128
Sewer Charges 2,973,652 2,973,652 347,025 (2,626,627) 12% 337,971 9,054
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 247,080 247,080 41,857 (205,223) 17% 41,035 822
Capital Facility charges 247,080 247,080 41,857 (205,223) 17% 41,035 822
Water Charges
604-49450.00-37160.00 Penalties 7,000 7,000 2,210 (4,790) 32% 958 1,252
Water Charges 7,000 7,000 2,210 (4,790) 32% 958 1,252
Total Revenues 3,279,732 3,279,732 419,198 (2,860,534) 13% 427,626 (8,428)
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 247,760 247,760 899,400 (651,640) 363% 59,818 (839,583)
41520.00 FINANCE 86,040 86,040 15,427 70,613 18% 18,013 2,586
Total-Function General Government 333,800 333,800 914,827 (581,027) 274% 77,830 (836,996)
Function:Sewer
49450.00 SEWER 2,984,136 3,039,136 560,317 2,478,819 18% 589,986 29,669
Total-Function Sewer 2,984,136 3,039,136 560,317 2,478,819 18% 589,986 29,669
Total Expenditures 3,317,936 3,372,936 1,475,144 1,897,792 44% 667,817 (807,327)
Net Change (38,204) (93,204) (1,055,946) (240,190)
�� PRIO4. City of Prior Lake
4 1 Water Quality Fund
r As of 3/31/2015
CJ
City of Prior Lake COMPARATIVE
41vmsscfc?' Water Quality Fund
As of 3/31/2015 Variance from Variance from
(Preliminary&Unaudited) 2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 03/31/2014 Positive(Negative)
Revenues
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants 95,000 95,000 - (95,000) 0% - -
602-49420.00-33610.20 County-City Aids/Grants - 12,212 - (12,212) 0% - -
Intergovernmental 95,000 107,212 - (107,212) 0% - -
Interest(losses)on investments
602-00000.00-36210.00 Interest Earnings 5,560 5,560 2,659 (2,901) 48% 1,876 783
602-00000.00-36225.00 Unrealizedlnv.Gain(Loss) - - 4,907 4,907 n/a 5,839 (932)
Interest(losses)on investments 5,560 5,560 7,566 2,006 136% 7,715 (149)
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 817,652 817,652 156,650 (661,002) 19% 153,442 3,208
Storm Water Charges 817,652 817,652 156,650 (661,002) 19% 153,442 3,208
Water Charges
602-49420.00-37160.00 Penalties - - 634 634 n/a 380 254
Water Charges - - 634 634 n/a 380 254
Total Revenues 918,212 930,424 164,850 (765,574) 18% 161,537 3,313
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 21,000 21,000 247,951 (226,951) 1181% 5,250 (242,701)
Total-Function General Government 21,000 21,000 247,951 (226,951) 1181% 5,250 (242,701)
Function:Water Quality
49420.00 WATER QUALITY 1,104,299 1,144,299 53,367 1,090,932 5% 63,529 10,163
Total-Function Water Quality 1,104,299 1,144,299 53,367 1,090,932 5% 63,529 10,163
Total Expenditures 1,125,299 1,165,299 301,318 863,981 26% 68,779 (232,538)
Net Change (207,087) (234,875) (136,468) 92,758
OF PRtp4. City of Prior Lake
A. Economic Development Authority Special Revenue Fund
f. As of 3/31/2015
V
(Preliminary&Unaudited) COMPARATIVE
447errssd0-
Variance from Variance from
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 03/31/2014 Positive(Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 159,000 159,000 - (159,000) 0% - -
Taxes 159,000 159,000 - (159,000) 0% - -
Charges for Services
240-00000.00-34111.00 Administrative Charges 1,000 1,000 - (1,000) 0% - -
240-46503.00-34760.02 Facility Rental-EDA 6,000 6,000 2,009 (3,991) 33% 1,906 103
Charges for Services 7,000 7,000 2,009 (4,991) 29% 1,906 103
Interest(losses)on investments
240-00000.00-36210.00 Interest Earnings 500 500 706 206 141% 311 394
240-00000.00-36225.00 Unrealized lnv.Gain(Loss) - - 1,358 1,358 n/a 935 424
Interest(losses)on investments 500 500 2,064 1,564 413% 1,246 (818)
Transfers in
240-00000.00-39203.00 Transfer from Other Funds - - - - n/a 17,275 (17,275)
Transfers in - - - - n/a 17,275 (17,275)
Total Revenues 166,500 166,500 4,073 (162,427) 2% 20,427 (16,354)
Expenditures
Function:Economic Development
46500.00 ECONOMIC DEVELOPMENT 148,595 148,595 36,587 112,008 25% 24,682 (11,905)
46503.00 TECH VILLAGE INCUBATOR 40,000 40,000 747 39,253 2% 539 (208)
Total Expenditures 188,595 188,595 37,334 151,261 20% 25,221 (12,112)
Net Change (22,095) (22,095) (33,261) (4,794)