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4646 Dakota Street SE
4' ESo`O' Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: SEPTEMBER 14, 2015
AGENDA#: 5E
PREPARED BY: CATHY ERICKSON, ACCOUNTING MANAGER
PRESENTER: DON URAM, FINANCE DIRECTOR
AGENDA ITEM: CONSIDER APPROVAL OF THE 2015 2ND QUARTER FINANCIAL
REPORT
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
June 30, 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
• Transit Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity for the first half 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.
ALTERNATIVES: 1. A motion to accept the June 30, 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:
oo PiMEMORANDUM
DATE: September 14, 2015
u �' TO: Prior Lake City Council
y, ZP FROM: Cathy Erickson, Accounting Manager
1VNEs00
RE: Financial Report dated 06/30/2015
The financial reports presented as part of this agenda item reflect activity during the first half of
2015. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for the second quarter:
• Preliminary financial information reflects revenues exceeding expenditures by $963,886
• First half property tax collection rates are comparable for current and fiscal disparities
and lower for delinquent collections, compared to the prior year;
• Building permit activity is at 44% of budgeted activity;
• Charges for services are increased compared to the prior year;
• Fines and forfeiture fees are down significantly than prior year;
• Interest revenues are increasing along with the increasing impact of the fair value of
investments adjustment; and
• Expenditure activity as a percent of budget is 45% which is slightly lower than 2014
(41%).
The 2015 amended budget anticipates a use of fund balance reserves in the amount of
$233,355 primarily for projects carried forward from 2014.
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 comparable
to the prior year (51%). Fiscal disparity collections are slightly higher than 2014.
Single family building permits are budgeted at 160 for 2015. All building permit activity is higher
than the first six months of 2014. The following table provides a breakdown of the first six
months of activity by year:
Year Single Townhomes Commercial/ j Other Total Change
Family Industrial Permits from PY
2015 61 6 4 980 1,051 19%
2014 53 0 _ 1 830 884 (23%)
2013 73 27 1 1,042 1,143 15%
2012 61 5 0 924 990 27%
The average value associated with the single family permits is $319k which has increased $20K
from the average for 2014.
Half of the Municipal State Aid (MSA) for road maintenance and township fire agreement
revenues were received.
Zoning & subdivision fees and plan check fees are up significantly from this time in 2014.
Tower lease revenues reflect seven of thirteen agreements in place.
Page 2
Court fines and prosecution restitution revenues are significantly lower than 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 are remitted to the Scott County Attorney's office according to the
operations change/merger.
Interest earnings are at 43 percent of the budget and are about the same as this time in 2014
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 decline again, the market value of the existing
securities has been increasing. As of December 31, 2014, the market value of the total portfolio
exceeded the cost of the investments by $22k. As of June 30, 2015, the market value of the
portfolio has increased and is greater than the cost of the investments by $122k. 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
or gain is never realized.
General Fund Expenditures
General Fund expenditures for 2015 represent 41 percent of the $12,880,629 amended budget.
The level of expenditures (in total) is lower than the same period last year. General categories
vary in how they are impacted from staff vacancies, status of projects, etc.
• The 2015 budget was amended to include additional expenditures of$308,877.
Approximately $27,000 has been expended in the 1st half of 2015.
• Expenditures in general government and public safety are lower than 2014 due to
multiple factors including 1) vacant positions (Assistant City Manager, Policy Chief,
Finance Director and open patrol position), 2) 2014 included approximately 100k for
technology investments for host servers and nimble storage area and professional
services for the ERP implementation.
• Additionally, seasonal staff expenditures in Recreation are lower than 2014 due to 2015
budget reductions. Park seasonal staff expenditures are also favorable to the prior year
primarily due to less snow events in 1Q 2015 as compared to 1Q 2014, and the use of
additional seasonal staff during the 2014 flooding.
• $75,000 is budgeted for election equipment, but the expenditure may not be incurred
until the fourth quarter of 2015.
• 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). Interest earnings are at 100% of the budget and slightly higher than 2nd quarter
2014. The change in the fair value of the securities is adjusted against interest earnings and is
allocated to each fund based on cash balances.
Q2 2015 revenues include bond proceeds for capital projects whereas 2014 bond proceeds
were not received until Q3 2014.
Scheduled bond payments were made in February and June.
Page 3
Capital Park Fund
Overall, revenues are down due mainly to lower Park dedication fees collected thus far in 2015
compared to 2014.
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. The contract has been
awarded for Rice Lake Park and the work will be completed this Fall.
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.
Interest earnings are at 85% of the budget which is higher than 2014. The change in the fair
value of the securities is adjusted against interest earnings and is allocated to each fund based
on cash balances.
Revolving Equipment Fund
Property taxes, the primary funding source, were received in June. Interest earnings are at 46%
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.
Vehicle and equipment purchases were approved at the February 9th Council meeting. Several
of these approved expenditures are reflected in this 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.
Interest earnings are at 54% 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
Water Fund
The financial report for the Water Fund reflects three billing cycles and water revenues are
about 21% higher than the same period in 2014. Water rates were increased effective January
1, 2015. YTD consumption was about 6% higher than the prior year. Consumption for the June
billing (April & May consumption) was 14% higher than the prior year due to a dry spring.
Interest earnings are at 46% of the budget and comparable to 2014. The change in the fair
value of the securities is adjusted against interest earnings and is allocated to each fund based
on cash balances.
Expenditures are comparable and transfers are higher than the same period in 2014. In May,
Council authorized preliminary funding for the City Project (TRN15-000006) Credit River Road
Improvement project. Therefore, a transfer was made in the amount of$398,719. Operational
budgetary transfers were also made according to the 2015 approved budget.
Sewer Fund
The financial report for the Sewer Fund reflects three billing cycles and sewer revenues are
about 5% higher than the same period in 2014. The MCES and City sewer rates were
increased effective January 1, 2015. Consumption was about 2% higher.
Page 4
Interest earnings are at 30% of the budget and decreased from this time in 2014. The change
in the fair value of the securities is adjusted against interest earnings and is allocated to each
fund based on cash balances.
Expenditures are comparable and transfers are higher than the same period in 2014. In May,
Council authorized preliminary funding for the City Project (TRN15-000006) Credit River Road
Improvement project. Therefore, a transfer was made in the amount of$236,664. Operational
budgetary transfers were also made according to the 2015 approved budget.
Water Quality Fund
The financial report for the Water Quality Fund reflects three billing cycles and water quality
revenues are about 2% higher than the same period in 2014. The storm water rate was
increased effective January 1, 2015.
Interest earnings are at 82% of the budget and very comparable to 2nd quarter 2014. The
change in the fair value of the securities is adjusted against interest earnings and is allocated to
each fund based on cash balances.
Expenditures are slightly higher than the same period in 2014. In May, Council authorized
preliminary funding for the City Project (TRN15-000006) Credit River Road Improvement
project. Therefore, a transfer was made in the amount of $18,068. 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. Activity in the Transit fund is limited to interest earnings. The fund
balance will be transferred to the MVTA in the third quarter, in accordance with the merger
agreement, and the fund will be closed.
Economic Development Authority Special Revenue Fund
Property taxes are received in June, December and January (final tax settlement).
Facility rental payments have been received for the Technology Village Business Incubator.
Interest earnings are higher than expected compared to this time last year and compared to the
2015 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.
Personnel, commissioner per diems, legal and Technology Village Business Incubator
expenditures comprise the majority of the expenditures.
Page 5
5E
OF pRI0� City of Prior Lake
General Fund Summary
As of 6/30/2075
L) n7 (Preliminary&Unaudited)
4 VNESd Variance from Variance
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 06/30/2014 Positive(Negative)
Revenues
Taxes 8,107,223 8,107,223 4,187,602 (3,919,621) 52% 3,803,418 384,184
Licenses and Permits 642,745 642,745 340,346 (302,399) 53% 305,111 35,235
Intergovernmental 1,483,842 1,567,171 532,778 (1,034,393) 34% 545,090 (12,312)
Charges for Services 1,644,615 1,644,615 777,911 (866,704) 47% 700,619 77,292
Fines and Forfeitures - - 1,150 1,150 n/a 61,906 (60,756)
Interest(losses)on investments 120,000 120,000 79,331 (40,669) 66% 185,680 (106,349)
Other 210,000 210,000 88,424 (121,576) 42% 110,452
(22,028)
Transfers in 355,520 355,520 177,760 (177,760) 50% 174,270 3,490
Total Revenues 12,563,945 12,647,274 6,185,302 (6,461,973) 49% 5,886,545 298,756
Expenditures
General Government 2,732,840 2,775,735 1,389,960 1,385,775 50% 1,571,904 181,945
Public Safety 4,861,364 4,861,364 2,076,024 2,785,340 43% 2,257,163 181,139
Public Works 2,096,259 2,212,598 901,347 1,311,251 41% 770,422 (130,925)
Culture and Recreation 1,837,637 1,986,587 745,126 1,241,461 38% 917,014 171,888
Transfer to other funds 1,035,845 1,035,845 102,746 933,099 10% 216,446 113,700
Contingent Reserve - 8,500 6,213 2,287 73% (12,219) (18,432)
Total Expenditures 12,563,945 12,880,629 5,221,415 7,659,214 41% 5,720,731 499,315
Net Change - (233,355) 963,886 165,815
civ. PR/04. City of Prior Lake
General Fund Revenues
E-. As of 6/30/2015
U PC
(Preliminary&Unaudited)
MfNNESOS''
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 3,772,674 (3,648,572) 51%
101 31040.00 Delinquent Property Taxes-General Purp 0.00 0.00 45,881 45,881 n/a
101 31040.00 Fiscal Disparities 685,977.00 685,977.00 369,047 (316,930) 54%
Taxes 8,107,223.00 8,107,223.00 4,187,602 (3,919,621) 52%
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 64,070 (350) 99%
101 32160.00 Refuse Haulers 4,000 4,000 3,650 (350) 91%
101 32170.00 Outdoor Concert Permits 1,050 1,050 750 (300) 71%
101 32180.00 Cigarette Licenses 2,250 2,250 2,500 250 111%
101 32210,00 Building Permits 470,060 470,060 208,482 (261,578) 44%
101 32211.00 Retainage Forfeiture - - 4,000 4,000 n/a
101 32215.00 Mechanical Permits 43,720 43,720 25,223 (18,497) 58%
101 32230.00 Plumbing Permits 41,245 41,245 20,266 (20,979) 49%
101 32231.00 Sewer/Water Inspection 7,500 7,500 3,810 (3,691) 51%
101 32232.00 Plumbing Registrations 1,300 1,300 1,075 (225) 83%
101 32240.00 Animal Licenses 3,750 3,750 3,070 (680) 82%
101 32260.00 Burning Permits 2,250 2,250 1,250 (1,000) 56%
101 32270.00 Short-term Rental Fee - - 1,200 1,200 n/a
Licenses and Permits 642,745 642,745 340,346
(302,399) 53%
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 1,253 (2,247) 36%
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 23,565 (22,295) 51%
101 33631.00 Payment in Lieu of Taxes 420,000 420,000 210,000 (210,000) 50%
101 33700.23 Miscellaneous Grants-Capital Parks - 72,147 - (72,147) 0%
Intergovernmental 1,483,842 1,567,171 532,778 (1,034,393) 34%
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 147,574 (447,426) 25%
101 34103.00 Zoning&Subdivision Fees 7,810 7,810 18,158 10,348 233%
101 34104.00 Plan Check Fees 291,420 291,420 124,256 (167,164) 43%
101 34105.00 Sale of Maps/Publications-Reports 1,000 1,000 1,906 906 191%
101 34107.00 Assessment Searches-Reports 400 400 390 (10) 98%
101 34109.00 Project Admin/Eng Fees 300,000 300,000 139,906 (160,094) 47%
101 34203.00 Accident/Warrant Reports-Reports 900 900 45 (855) 5%
101 34304.00 PEG Access Fees 34,000 34,000 8,208 (25,792) 24%
101 34731.00 Softball Fees 28,000 28,000 22,075 (5,925) 79%
101 34735.00 Recreation Program Fees 35,000 35,000 34,843 (158) 100%
101 34740.00 Concessions-Park Fees 750 750 - (750) 0%
101 34760.01 Facility Rental-Regular 71,520 71,520 35,971 (35,549) 50%
101 34761.00 Studio/Pavilion Rental 15,000 15,000 12,552 (2,448) 84%
101 34762.00 Park Shelter Rental 8,250 8,250 10,090 1,840 122%
101 34765.01 Tower Leases 202,065 202,065 199,332 (2,733) 99%
101 34780.00 Park Admission Fees 10,000 10,000 7,656 (2,344) 77%
101 34783.00 City Contract Services 43,500 43,500 14,950 (28,550) 34%
Charges for Services 1,644,615 1,644,615 777,911
(866,704) 47%
Fines and Forfeitures
101 35101.00 County Court Fines - - 1,150 1,150 n/a
101 35104.00 Prosecution Restitution - - - - n/a
Fines and Forfeitures - - 1,150 1,150 n/a
Ov PRI City of Prior Lake
General Fund Revenues
F- As of 6/30/2015
U en (Preliminary 8 Unaudited)
•
M4NNESOt""
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 51,576 (68,424) 43%
101 36225.00 Unrealized Inv.Gain(Loss) - - 27,755 27,755 n/a
Interest(losses)on investments 120,000 120,000 79,331 (40,669) 66%
Other Miscellaneous Revenues
101 36102.00 County Assess.Collection 35,000 35,000 1,237 (33,763) 4%
101 36211.00 Developer Agreements 70,000 70,000 14,056 (55,944) 20%
101 36212.00 Miscellaneous Revenue 94,000 94,000 64,388 (29,612) 68%
101 36230.00 Contributions&Donations 11,000 11,000 8,743 (2,257) 79%
Other Miscellaneous Revenues 210,000 210,000 88,424 (121,576) 42%
Other financing sources
101 39203.00 Transfer from Other Funds 355,520 355,520 177,760 (177,760) 50%
Transfers in 355,520 355,520 177,760 (177,760) 50%
Total Revenues 12,563,945 12,647,274 6,185,302
(6,461,973) 49%
O. PRio* City of Prior Lake
General Fund Expenditures
As of 6/30/2015
v m (Preliminary&Unaudited)
4'NNESOT'F
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 23,895 31,495 43%
41130.00 ORDINANCE 7,500 7,500 3,123 4,377 42%
41320.00 ADMINISTRATION 384,759 384,759 194,574 190,185 51%
41330.00 BOARDS&COMMISSIONS 10,339 10,339 4,393 5,946 42%
41410.00 ELECTIONS 75,000 75,000 - 75,000 0%
41520.00 FINANCE 434,684 434,684 216,996 217,688 50%
41530.00 ACCOUNTING - - 182 (182) n/a
41540.00 INTERNAL AUDITING 29,950 29,950 30,215 (265) 101%
41550.00 ASSESSING 152,250 152,250 150,000 2,250 99%
41610.00 LEGAL 215,000 215,000 98,926 116,074 46%
41820.00 HUMAN RESOURCES 160,221 160,221 76,985 83,236 48%
41830.00 COMMUNICATIONS 122,301 122,301 55,841 66,460 46%
41910.00 COMMUNITY DEVELOPMENT 307,993 307,993 133,337 174,656 43%
41920.00 INFORMATION TECHNOLOGY 263,996 306,891 131,123 175,768 43%
41940.00 FACILITIES-CITY HALL 513,457 513,457 270,370 243,087 53%
Total-Function General Government 2,732,840 2,775,735 1,389,960 1,385,775 50%
Function:Public Safety
42100.00 POLICE 3,364,784 3,364,784 1,492,098 1,872,686 44%
42200.00 FIRE 883,855 883,855 307,527 576,328 35%
42400.00 BUILDING INSPECTION 577,443 577,443 255,036 322,407 44%
42500.00 EMERGENCY MANAGEMENT 10,025 10,025 8,764 1,261 87%
42700.00 ANIMAL CONTROL 25,257 25,257 12,600 12,657 50%
Total-Function Public Safety 4,861,364 4,861,364 2,076,024 2,785,340 43%
Function:Public Works
43050.00 ENGINEERING 380,147 380,147 170,597 209,550 45%
43100.00 STREET 1,346,321 1,462,660 586,126 876,534 40%
43400.00 CENTRAL GARAGE 369,791 369,791 144,624 225,167 39%
Total-Function Public Works 2,096,259 2,212,598 901,347 1,311,251 41%
Function:Culture and Recreation
45100.00 RECREATION 359,377 366,576 142,470 224,106 39%
45200.00 PARKS 1,331,676 1,553,251 563,428 989,823 36%
45500.00 LIBRARIES 66,760 66,760 39,227 27,533 59%
46100.00 NATURAL RESOURCES 79,824 - - - n/a
Total-Function Culture and Recreation 1,837,637 1,986,587 745,126 1,241,461 38%
00000.00 Transfer to Other Funds 1,035,845 1,035,845 102,746 933,099 10%
Function:Contingent Reserve
49999.00 CONTINGENT RESERVE - 8,500 6,213 2,287 73%
Total-Function Contingent Reserve - 8,500 6,213 2,287 73%
Total Expenditures 12,563,945 12,880,629 5,221,415 7,659,214 41%
O. PRI0 City of Prior Lake
Debt Service Funds
_� As of 6/30/2015
V (Preliminary 8 Unaudited)
MlNNESOKf'
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Property Taxes
Current Property Taxes 1,877,863 1,877,863 965,939 (911,924) 51%
Special Assessments
City Assess.Collections - - 113,245 113,245 n/a
County Assess.Collection 401,346 401,346 179,898 (221,448) 45%
Interest(losses)on investments
Interest Earnings 26,527 26,527 26,520 (7) 100%
Unrealized Inv.Gain(Loss) - - 5,407 5,407 n/a
Miscellaneous Revenues
Miscellaneous Revenues 68,926 68,926 - (68,926) 0%
Other Financing Sources
Transfer from Other Funds 1,670,085 1,670,085 256,003 (1,414,082) 15%
Bond Proceeds - - 5,529,906 5,529,906 n/a
Bond Discount/Premium - - - - n/a
Total Revenues 4,044,747 4,044,747 7,076,917 3,032,170 175%
Expenditures
Debt Service
Principal 3,203,474 3,203,474 135,000 3,068,474 4%
Interest and Other 1,053,135 1,053,135 603,952 449,183 57%
Bond Discount/Premium - - (143,647) 143,647 n/a
Total Expenditures 4,256,609 4,256,609 595,305 3,661,304 14%
Net Change (211,862) (211,862) 6,481,612
0, PRfo* City of Prior Lake
Cable Fund
t". As of 613012015
LI ' (Preliminary&Unaudited)
MiNNEsott*
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) -
O* PR/04. City of Prior Lake
Capital Park Fund
As of 6/30/2015
V t (Preliminary&Unaudited)
MlNNEsol-r
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 11,700 (11,700) 50%
225-45200.00-34791.00 Dedication Fees 138,750 138,750 18,189 (120,561) 13%
Charges for Services 162,150 162,150 29,889 (132,261) 18%
Interest(losses)on investments
225-00000.00-36210.00 Interest Earnings 7,000 7,000 5,970 (1,030) 85%
225-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 3,871 3,871 n/a
Interest(losses)on investments 7,000 7,000 9,841 2,841 141%
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 40,780 (128,370) 24%
Expenditures
54320.00 Miscellaneous - - 3,346 (3,346) n/a
59203.00 Transfers to Other Funds - - 62,356 (62,356) n/a
53100.80 Professional Services-General - - - - n/a
55530.00 Infrastructure 50,000 220,000 1,017 218,983 0%
Total Expenditures 50,000 220,000 66,718 153,282 30%
Net Change 119,150 (50,850) (25,938)
OF PR/04. City of Prior Lake
Revolving Equipment Fund
F As of 6/30/2015
u (Preliminary&Unaudited)
MINNE5d '
Variance from
2015 2015 2015 Amended Budget- %BDGT
Budget Amended Actual Positive(Negative) USED
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 250,000 250,000 128,726 (121,274) 51%
Taxes 250,000 250,000 128,726 (121,274) 51%
Interest(losses)on investments
410-00000.00-36210.00 Interest Earnings 20,151 20,151 9,198 (10,953) 46%
410-00000.00-36225.00 Unrealized lnv.Gain(Loss) - - 7,187 7,187 n/a
Interest(losses)on investments 20,151 20,151 16,385 (3,766) 81%
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 29,447 (2,380) 93%
Other 31,827 31,827 29,447 (2,380) 93%
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 141,000 141,000 70,500 (70,500) 50%
Transfers in 141,000 141,000 70,500 (70,500) 50%
Total Revenues 473,978 473,978 245,058 (228,920) 52%
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 115,600 115,600 95,546 20,054 83%
410-42100.06-54350.00 Agency Forfeit Proceeds - - 12,782 (12,782) n/a
Fire
410-42200.00-55550.00 Vehicles 150,950 150,950 96,196 54,754 64%
Total Public Safety 266,550 266,550 204,524 62,026 77%
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 9,268 10,732 46%
Total Public Works 330,500 439,855 208,455 231,400 47%
Culture and Recreation
410-45200.00-55550.00 Vehicles 108,000 108,000 97,286 10,714 90%
410-45200.00-55570.00 Machinery and Equipment
Total Culture&Recreation 108,000 108,000 97,286 10,714 90%
Water
410-49400.00-55550.00 Vehicles - 25,000 25,368 (368) 101%
410-49400.00-55570.00 Machinery and Equipment - 15,000 13,950 1,050 93%
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 - 2,500 (2,500) n/a
Total Utility 113,500 113,500 131,649 (18,149) 116%
Total Expenditures 818,550 927,905 641,913 285,992 69%
Net Change (344,572) (453,927) (396,856)
OF PRio* City of Prior Lake
Facilities Management Fund
u As of 6/30/2015
(Preliminary&Unaudited)
MiNNE5Ort*
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 6,211 (5,247) 54%
440-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 3,396 3,396 n/a
Interest(losses)on investments 11,458 11,458 9,607 (1,851) 84%
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 50,000 50,000 25,000 (25,000) 50%
Transfers in 50,000 50,000 25,000 (25,000) 50%
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 34,607 (626,851) 5%
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 2,667,924 436,349 2,231,575 16%
Total-Function General Government 2,749,305 2,749,305 437,177 2,312,128 16%
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 6,642 48,920 12%
45500.00 LIBRARIES 55,562 55,562 6,872 48,690 12%
Total-Function Culture and Recreation 111,124 111,124 13,514 97,610 12%
Total Expenditures 3,546,418 3,546,418 450,691 3,095,727 13%
Net Change (2,884,960) (2,884,960) (416,084)
04 PRtp� City of Prior Lake
-. Water Fund
t'
V As of 6/30/2015
(Preliminary&Unaudited) COMPARATIVE
4'kvxssat*
Variance from Variance
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 06/30/2014 Positive(Negative)
Revenues
Interest(losses)on investments
601-00000.00-36210.00 Interest Earnings 60,000 60,000 27,628 (32,372) 46% 29,658 (2,030)
601-00000.00-36225.00 Unrealized lnv.Gain(Loss) - - 17,351 17,351 n/a 76,932 (59,582)
Interest(losses)on investments 60,000 60,000 44,979 (15,021) 75% 106,591 (61,612)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 410 410 n/a 582 (172)
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 29 29 n/a 6 24
Miscellaneous Revenues - - 439 439 n/a 588 (149)
Water Charges
601-49400.00-37100.00 Utility Receipts-Water 3,253,750 3,253,750 1,096,491 (2,157,259) 34% 906,388 190,103
601-49400.00-37160.00 Penalties 7,000 7,000 5,950 (1,050) 85% 3,935 2,015
Water Charges 3,260,750 3,260,750 1,102,441 (2,158,309) 34% 910,323 192,118
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 247,080 247,080 126,085 (120,995) 51% 123,442 2,642
Capital Facility charges 247,080 247,080 126,085 (120,995) 51% 123,442 2,642
Meter Sales
601-49400.00-37170.00 Water Meter Sales 93,400 93,400 41,242 (52,158) 44% 38,712 2,531
601-49400.00-37175.00 Pressure Reducers 24,750 24,750 11,353 (13,397) 46% 8,635 2,718
601-49400.00-37180.00 Frost Plates - - 21 21 n/a 60 (39)
Meter Sales 118,150 118,150 52,616 (65,534) 45% 47,407 5,210
Total Revenues 3,685,980 3,685,980 1,326,560 (2,359,420) 36% 1,188,351 138,209
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 804,695 804,695 1,364,280 (559,585) 170% 291,411 (1,072,870)
41520.00 FINANCE 86,090 86,090 37,215 48,875 43% 38,915 1,700
Total-Function General Government 890,785 890,785 1,401,495 (510,710) 157% 330,326 (1,071,169)
Function:Water
49400.00 WATER 4,837,551 4,851,321 874,185 3,977,136 18% 724,381 (149,805)
Total-Function Water 4,837,551 4,851,321 874,185 3,977,136 18% 724,381 (149,805)
Total Expenditures 5,728,336 5,742,106 2,275,681 3,466,425 40% 1,054,707 (1,220,974)
Net Change (2,042,356) (2,056,126) (949,121) 133,644
OF PRI04. City of Prior Lake
Sewer Fund
f' As of 6/30/2015
u-- ref
(Preliminary&Unaudited) COMPARATIVE
M7NNESOS'
Variance from Variance
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 06/30/2014 Positive(Negative)
Revenues
Interest(losses)on investments
604-00000.00-36210.00 Interest Earnings 52,000 52,000 15,823 (36,177) 30% 22,702 (6,879)
604-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 11,644 11,644 n/a 58,217 (46,573)
Interest(losses)on investments 52,000 52,000 27,467 (24,533) 53% 80,919 (53,452)
Sewer Charges
604-49450.00-37102.00 Utility Receipts-Sewer 1,437,028 1,437,028 496,781 (940,247) 35% 472,448 24,333
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,536,624 1,536,624 528,388 (1,008,236) 34% 505,472 22,916
Sewer Charges 2,973,652 2,973,652 1,025,169 (1,948,483) 34% 977,920 47,248
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 247,080 247,080 126,089 (120,991) 51% 123,446 2,642
Capital Facility charges 247,080 247,080 126,089 (120,991) 51% 123,446 2,642
Water Charges
604-49450.00-37160.00 Penalties 7,000 7,000 5,163 (1,837) 74% 3,285 1,878
Water Charges 7,000 7,000 5,163 (1,837) 74% 3,285 1,878
Total Revenues 3,279,732 3,279,732 1,183,888 (2,095,844) 36% 1,185,571 (1,684)
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 247,760 247,760 1,198,004 (950,244) 484% 121,654 (1,076,350)
41520.00 FINANCE 86,040 86,040 37,182 48,858 43% 38,890 1,707
Total-Function General Government 333,800 333,800 1,235,187 (901,387) 370% 160,544 (1,074,643)
Function:Sewer
49450.00 SEWER 2,984,136 3,039,136 1,041,868 1,997,268 34% 1,096,002 54,133
Total-Function Sewer 2,984,136 3,039,136 1,041,868 1,997,268 34% 1,096,002 54,133
Total Expenditures 3,317,936 3,372,936 2,277,055 1,095,881 68% 1,256,545 (1,020,510)
Net Change (38,204) (93,204) (1,093,167) (70,974)
OF P1110R City of Prior Lake
F Water Quality Fund
m of 6i30/2015
`'\ (Preliminary 8 Unaudited) COMPARATIVE
M�NVES��T
Variance from Variance from
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 06/30/2014 Positive(Negative)
Revenues
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants 95,000 95,000 - (95,000) 0% 19,068 (19,068)
602-49420.00-33610.20 County-City Aids/Grants - 12,212 - (12,212) 0% - -
Intergovernmental 95,000 107,212 - (107,212) 0% 19,068 19,068
Interest(losses)on investments
602-00000.00-36210.00 Interest Earnings 5,560 5,560 4,579 (981) 82% 4,198 381
602-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 2,690 2,690 n/a 10,023 (7,333)
Interest(losses)on investments 5,560 5,560 7,269 1,709 131% 14,221 (6,952)
Storm Water Charges
60249420.00-37120.00 Storm Water Revenue 817,652 817,652 438,172 (379,480) 54% 427,548 10,624
Storm Water Charges 817,652 817,652 438,172 (379,480) 54% 427,548 10,624
Water Charges
602-49420.00-37160.00 Penalties - - 1,482 1,482 n/a 1,157 325
Water Charges - - 1,482 1,482 n/a 1,157 325
Total Revenues 918,212 930,424 446,922 (483,502) 48% 461,994 23,065
•
Expenditures
Function:General Government
00000.00 Transfers to Other Funds 21,000 21,000 271,269 (250,269) 1292% 10,500 (260,769)
Total-Function General Government 21,000 21,000 271,269 (250,269) 1292% 10,500 (260,769)
Function:Water Quality
49420.00 WATER QUALITY 1,104,299 1,144,299 221,282 923,017 19% 167,361 (53,921)
Total-Function Water Quality 1,104,299 1,144,299 221,282 923,017 19% 167,361 (53,921)
Total Expenditures 1,125,299 1,165,299 492,551 672,748 42% 177,861 (314,690)
Net Change (207,087) (234,875) (45,629) 284,133
OQ PR!04 City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 6/30/2015
(Preliminary&Unaudited) COMPARATIVE
MMNesoM1^
Variance from Variance from
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual Positive(Negative) USED 06/30/2014 Positive(Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 159,000 159,000 82,085 (76,915) 52% 77,324 4,761
Taxes 159,000 159,000 82,085 (76,915) 52% 77,324 4,761
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 3,627 (2,373) 60% 3,123 504
Charges for Services 7,000 7,000 3,627 (3,373) 52% 3,123 504
Interest(losses)on investments
240-00000.00-36210.00 Interest Earnings 500 500 1,285 785 257% 720 564
240-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 677 677 n/a 1,262 (585)
Interest(losses)on investments 500 500 1,961 1,461 392% 1,982 21
Transfers in
240-00000.00-39203.00 Transfer from Other Funds - - - - n/a 23,050 (23,050)
Transfers in - - - - n/a 23,050 (23,050)
Total Revenues 166,500 166,500 87,674 (78,826) 53% 105,479
(17,805)
Expenditures
Function:Economic Development
46500.00 ECONOMIC DEVELOPMENT 148,595 148,595 56,386 92,209 38% 51,835 (4,551)
46503.00 TECH VILLAGE INCUBATOR 40,000 40,000 5,166 34,834 13% 1,611 (3,554)
Total Expenditures 188,595 188,595 61,552 127,043 33% 53,447 (8,105)
Net Change (22,095) (22,095) 26,122 52,033
0. PR!0 City of Prior Lake
-- Transit Fund
F As of 6/30/2015
V
(Preliminary&Unaudited) COMPARATIVE
M,A'NESol.'
Variance from Variance from
2015 2015 2015 Amended Budget- %BDGT Actual from 2014
Budget Amended Actual BALANCE USED 06/30/2014 Positive(Negative)
Revenues
Intergovernmental
603-49804.00-38422.00 State Transit Aid - - - - n/a 278,238 (278,238)
Intergovernmental - - - - n/a 278,238 278,238
Interest(losses)on investments
603-00000.00-36210.00 Interest Earnings - - 7,603 7,603 n/a 15,856 (8,253)
603-00000.00-36225.00 Unrealizedlnv.Gain(Loss) - - 6,092 6,092 n/a 40,498 (34,406)
Interest(losses)on investments - - 13,695 13,695 n/a 56,354 (42,659)
Transit Charges
603-49804.00-38400.00 Bus Fares - - - - n/a 52,625 (52,625)
Storm Water Charges - - - - n/a 52,625 (52,625)
Total Revenues - - 13,695 13,695 n/a 387,218 182,954
Expenditures
Function:Transit
49804.00 Transit - - - - n/a 254,436 254,436
Total-Function Transit - - - - n/a 254,436 254,436
Total Expenditures - - - - n/a 254,436 254,436
Net Change - - 13,695 132,781