HomeMy WebLinkAbout5H 3rd Quarter Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: NOVEMBER 23, 2015
AGENDA #: 5H
PREPARED BY: CATHY ERICKSON, ACCOUNTING MANAGER
PRESENTER: DON URAM, FINANCE DIRECTOR
AGENDA ITEM: CONSIDER APPROVAL OF THE 3RD QUARTER 2015 FINANCIAL
REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
September 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 three
quarters 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 and second as part of the consent agenda to accept the
September 30, 2015 Financial Report as submitted.
2. Take no action and provide the staff with specific direction.
RECOMMENDED
MOTION:
Alternative 1.
Page 2
MEMORANDUM
DATE: November 12, 2015
TO: Prior Lake City Council
FROM: Cathy Erickson, Accounting Manager
RE: Financial Report dated 09/30/2015
The financial reports presented as part of this agenda item reflect activity during the first three
quarters of 2015. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for the third quarter:
Preliminary financial information reflects expenditures exceeding revenues by $297,352.
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 54% of budgeted activity;
Charges for services are greater by $78k compared to the prior year;
Court fines and prosecution restitution revenues are significantly lower than 2014 due to
the operations change/amendment to the JPA for prosecution services.
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 59% which is slightly lower than 2014
(66%).
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. Second half and final property taxes aren’t received until
December 2015 and January, 2016. Revenues from taxes are recognized when received 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. The number of building permits
forecasted for 2015 is 115. The number of permits for single family homes as of September
YTD is 86, or 54% of the 2015 permits budgeted. Total building permit revenue September
YTD is 65% of the budget.
Year Single
Family
Townhomes Commercial /
Industrial
Other
Permits
Total Change
from PY
2015 86 10 8 1,554 1,658 10%
2014 83 4 4 1,411 1,502 (14%)
2013 108 35 2 1,597 1,742 5%
2012 93 27 1 1,539 1,660 21%
The average value associated with the single family permits is $317k which has increased $10K
from the average for 2014.
Full year Municipal State Aid (MSA) for road maintenance ($285K) and township fire agreement
revenues ($279K) were received.
Page 3
Tower lease revenues reflect seven of thirteen agreements in place.
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 65 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 of December 31, 2014, the market value of the total portfolio exceeded
the cost of the investments by $22k. As of September 30, 2015, the market value of the
portfolio has increased and is greater than the cost of the investments by $219k. 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 typically holds its investments until maturity; therefore, an
actual loss or gain is never realized.
General Fund Expenditures
General Fund expenditures for 2015 represent 59 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 $159,000 has been expended through 3rd quarter 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, Executive Assistant, open patrol and Communications Coordinator
positions), 2) 2014 included approximately 100k for technology investments for host
servers and nimble storage area and professional services for the ERP implementation.
3) 2014 included $158k for prosecution services. With the JPA in place court fine and
prosecution fee revenue is remitted to Scott County for the purposes of covering their
prosecution costs.
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 Q1 2015 as compared to Q1 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.
Debt Service Funds
Property taxes and special assessments are received in June, December and January (final tax
settlement). Interest earnings are at 142% of the budget and comparable to Q3 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 4
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 was completed in October, therefore, the
expenditures will occur in the fourth quarter. The Pike Lake Master Plan will not be completed
in 2015.
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 127% 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 63%
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 purchase 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 78% 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.
Enterprise Funds Revenues:
The financial report for the Water and Sewer Funds reflect four billing cycles. The Water,
MCES and City sewer, and storm water rates were increased effective January 1, 2015.
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
Water revenues are about 26% higher than the same period in 2014. YTD consumption was
about 8.4% 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. Consumption for the
August billing (June and July consumption) was 22% higher than the prior year due to 2014
flooding which resulted in lower water consumption in the summer of 2014.
Interest earnings are at 63% of the budget and comparable to 2014.
Page 5
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
Sewer revenues are about 4% higher than the same period in 2014. Consumption was about
2% higher than the prior year.
Interest earnings are at 40% of the budget and decreased from this time in 2014.
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
Storm water revenues are about 3% higher than the same period in 2014.
Interest earnings are at 120% of the budget and very comparable to 3rd quarter 2014.
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 has been transferred to the MVTA in the third quarter, in accordance with the merger
agreement, and the fund is closed. Starting in 2016, we will no longer report on this closed
fund.
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.
City of Prior Lake
General Fund Summary
As of 9/30/2015
(Preliminary & Unaudited)
Variance from Variance
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual Positive (Negative)USED 09/30/2014 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 642,745 642,745 472,520 (170,225) 74%445,877 26,643
Intergovernmental 1,483,842 1,567,171 927,705 (639,466) 59%965,666 (37,961)
Charges for Services 1,644,615 1,644,615 1,173,040 (471,575) 71%1,094,250 78,790
Fines and Forfeitures - - 1,250 1,250 n/a 113,385 (112,135)
Interest (losses) on investments 120,000 120,000 125,160 5,160 104%198,857 (73,697)
Other 210,000 210,000 148,869 (61,131) 71%140,037 8,832
Transfers in 355,520 355,520 266,640 (88,880) 75%375,471 (108,831)
Total Revenues 12,563,945 12,647,274 7,302,787 (5,344,487) 58%7,136,961 165,826
Expenditures
General Government 2,732,840 2,775,735 1,831,524 944,211 66%2,229,337 397,814
Public Safety 4,861,364 4,861,364 3,147,794 1,713,570 65%3,305,239 157,445
Public Works 2,096,259 2,212,598 1,244,182 968,416 56%1,214,143 (30,038)
Culture and Recreation 1,837,637 1,986,587 1,260,550 726,037 63%1,537,381 276,831
Transfer to other funds 1,035,845 1,035,845 102,746 933,099 10%222,221 119,475
Contingent Reserve - 8,500 6,213 2,287 73%206,199 199,986
Total Expenditures 12,563,945 12,880,629 7,593,009 5,287,621 59%8,714,520 1,121,512
Net Change - (233,355) (290,222) (1,577,559)
City of Prior Lake
General Fund Revenues
As of 9/30/2015
(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 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 4,187,602.29 (3,919,621) 52%
Licenses and Permits
101 32100.00 Business Licenses 1,200 1,200 1,000.00 (200) 83%
101 32110.00 Liquor Licenses 64,420 64,420 68,995.00 4,575 107%
101 32160.00 Refuse Haulers 4,000 4,000 3,650.00 (350) 91%
101 32170.00 Outdoor Concert Permits 1,050 1,050 1,450.00 400 138%
101 32180.00 Cigarette Licenses 2,250 2,250 2,500.00 250 111%
101 32210.00 Building Permits 470,060 470,060 304,558 (165,502) 65%
101 32211.00 Retainage Forfeiture - - 5,583 5,583 n/a
101 32215.00 Mechanical Permits 43,720 43,720 39,791 (3,929) 91%
101 32230.00 Plumbing Permits 41,245 41,245 31,187 (10,059) 76%
101 32231.00 Sewer/Water Inspection 7,500 7,500 5,817 (1,683) 78%
101 32232.00 Plumbing Registrations 1,300 1,300 1,150 (150) 88%
101 32240.00 Animal Licenses 3,750 3,750 3,540 (210) 94%
101 32260.00 Burning Permits 2,250 2,250 2,100 (150) 93%
101 32270.00 Short-term Rental Fee - - 1,200 1,200 n/a
Licenses and Permits 642,745 642,745 472,520 (170,225) 74%
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 5,765 2,265 165%
101 33401.00 Local Government Aid 52,680 52,680 5,953 (46,728) 11%
101 33416.01 State Aid - Police Train 7,800 7,800 7,330 (470) 94%
101 33416.02 State Police Aid-Ins Prem 175,000 175,000 - (175,000) 0%
101 33417.00 State Aid - Fire Training - - 5,854 5,854 n/a
101 33418.00 State Road & Bridge Aid 288,000 288,000 285,144 (2,856) 99%
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 282,002 282,002 279,094 (2,908) 99%
101 33621.00 Liaison Aid 45,860 45,860 23,565 (22,295) 51%
101 33631.00 Payment in Lieu of Taxes 420,000 420,000 315,000 (105,000) 75%
101 33700.23 Miscellaneous Grants - Capital Parks - 72,147 - (72,147) 0%
Intergovernmental 1,483,842 1,567,171 927,705 (639,466) 59%
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 300,293 (294,707) 50%
101 34103.00 Zoning & Subdivision Fees 7,810 7,810 23,121 15,311 296%
101 34104.00 Plan Check Fees 291,420 291,420 183,128 (108,292) 63%
101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 2,183 1,183 218%
101 34107.00 Assessment Searches - Reports 400 400 490 90 123%
101 34109.00 Project Admin/Eng Fees 300,000 300,000 207,582 (92,418) 69%
101 34203.00 Accident/Warrant Reports - Reports 900 900 70 (830) 8%
101 34304.00 PEG Access Fees 34,000 34,000 16,505 (17,495) 49%
101 34731.00 Softball Fees 28,000 28,000 22,619 (5,381) 81%
101 34735.00 Recreation Program Fees 35,000 35,000 41,915 6,915 120%
101 34740.00 Concessions - Park Fees 750 750 - (750) 0%
101 34760.01 Facility Rental - Regular 71,520 71,520 54,081 (17,439) 76%
101 34761.00 Studio/Pavilion Rental 15,000 15,000 15,308 308 102%
101 34762.00 Park Shelter Rental 8,250 8,250 14,048 5,798 170%
101 34765.01 Tower Leases 202,065 202,065 229,725 27,660 114%
101 34780.00 Park Admission Fees 10,000 10,000 18,032 8,032 180%
101 34783.00 City Contract Services 43,500 43,500 43,940 440 101%
Charges for Services 1,644,615 1,644,615 1,173,040 (471,575) 71%
Fines and Forfeitures
101 35101.00 County Court Fines - - 1,250 1,250 n/a
101 35104.00 Prosecution Restitution - - - - n/a
Fines and Forfeitures - - 1,250 1,250 n/a
City of Prior Lake
General Fund Revenues
As of 9/30/2015
(Preliminary & Unaudited)
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 77,723 (42,277) 65%
101 36225.00 Unrealized Inv.Gain(Loss)- - 47,437 47,437 n/a
Interest (losses) on investments 120,000 120,000 125,160 5,160 104%
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 60,669 (9,331) 87%
101 36212.00 Miscellaneous Revenue 94,000 94,000 69,148 (24,852) 74%
101 36230.00 Contributions & Donations 11,000 11,000 10,685 (315) 97%
101 39102.00 Sale of Property - - 7,130 7,130 n/a
Other Miscellaneous Revenues 210,000 210,000 148,869 (61,131) 71%
Other financing sources
101 39203.00 Transfer from Other Funds 355,520 355,520 266,640 (88,880) 75%
Transfers in 355,520 355,520 266,640 (88,880) 75%
Total Revenues 12,563,945 12,647,274 7,302,787 (5,344,487) 58%
City of Prior Lake
General Fund Expenditures
As of 9/30/2015
(Preliminary & Unaudited)
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 36,833 18,557 66%
41130.00 ORDINANCE 7,500 7,500 4,691 2,809 63%
41320.00 ADMINISTRATION 384,759 384,759 275,807 108,952 72%
41330.00 BOARDS & COMMISSIONS 10,339 10,339 6,800 3,539 66%
41410.00 ELECTIONS 75,000 75,000 (26) 75,026 0%
41520.00 FINANCE 434,684 434,684 290,868 143,816 67%
41530.00 ACCOUNTING - - (8,968) 8,968 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 215,000 215,000 158,349 56,651 74%
41820.00 HUMAN RESOURCES 160,221 160,221 58,623 101,598 37%
41830.00 COMMUNICATIONS 122,301 122,301 76,815 45,486 63%
41910.00 COMMUNITY DEVELOPMENT 307,993 307,993 200,155 107,838 65%
41920.00 INFORMATION TECHNOLOGY 263,996 306,891 177,830 129,061 58%
41940.00 FACILITIES - CITY HALL 513,457 513,457 373,533 139,924 73%
Total - Function General Government 2,732,840 2,775,735 1,831,524 944,211 66%
Function: Public Safety
42100.00 POLICE 3,364,784 3,364,784 2,285,388 1,079,396 68%
42200.00 FIRE 883,855 883,855 448,813 435,042 51%
42400.00 BUILDING INSPECTION 577,443 577,443 387,684 189,759 67%
42500.00 EMERGENCY MANAGEMENT 10,025 10,025 9,110 915 91%
42700.00 ANIMAL CONTROL 25,257 25,257 16,800 8,457 67%
Total - Function Public Safety 4,861,364 4,861,364 3,147,794 1,713,570 65%
Function: Public Works
43050.00 ENGINEERING 380,147 380,147 254,003 126,144 67%
43100.00 STREET 1,346,321 1,462,660 779,467 683,193 53%
43400.00 CENTRAL GARAGE 369,791 369,791 210,712 159,079 57%
Total - Function Public Works 2,096,259 2,212,598 1,244,182 968,416 56%
Function: Culture and Recreation
45100.00 RECREATION 359,377 366,576 262,917 103,659 72%
45200.00 PARKS 1,331,676 1,553,251 948,796 604,455 61%
45500.00 LIBRARIES 66,760 66,760 48,865 17,895 73%
46100.00 NATURAL RESOURCES 79,824 - (29) 29 n/a
Total - Function Culture and Recreation 1,837,637 1,986,587 1,260,550 726,037 63%
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 7,593,009 5,287,621 59%
City of Prior Lake
Debt Service Funds
As of 9/30/2015
(Preliminary & Unaudited)
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 - - 160,205 160,205 n/a
County Assess. Collection 401,346 401,346 179,898 (221,448) 45%
Interest (losses) on investments
Interest Earnings 26,527 26,527 37,620 11,093 142%
Unrealized Inv.Gain(Loss)- - 13,231 13,231 n/a
Miscellaneous Revenues
Miscellaneous Revenues 68,926 68,926 - (68,926) 0%
Other Financing Sources
Transfer from Other Funds 1,670,085 1,670,085 245,208 (1,424,877) 15%
Bond Proceeds - - 5,529,906 5,529,906 n/a
Bond Discount/Premium - - - - n/a
Total Revenues 4,044,747 4,044,747 7,132,007 3,087,260 176%
Expenditures
Debt Service
Principal 3,203,474 3,203,474 135,000 3,068,474 4%
Interest and Other 1,053,135 1,053,135 512,989 540,146 49%
Bond Issuance Costs - - 92,463 (92,463) n/a
Bond Discount/Premium - - (143,647) 143,647 n/a
Total Expenditures 4,256,609 4,256,609 596,805 3,659,804 14%
Net Change (211,862) (211,862) 6,535,202
City of Prior Lake
Cable Fund
As of 9/30/2015
(Preliminary & Unaudited)
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 - 100%
Total Revenues 5,133 5,133 5,133 - 100%
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) 5,133
City of Prior Lake
Capital Park Fund
As of 9/30/2015
(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 19,500 (3,900) 83%
225-45200.00-34791.00 Dedication Fees 138,750 138,750 89,060 (49,690) 64%
Charges for Services 162,150 162,150 108,560 (53,590) 67%
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 7,000 7,000 8,867 1,867 127%
225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 6,117 6,117 n/a
Interest (losses) on investments 7,000 7,000 14,984 7,984 214%
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 1,300 1,300 n/a
Contributions and donations - - 1,300 1,300 n/a
Total Revenues 169,150 169,150 124,844 (44,306) 74%
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 - - 1,800 (1,800) n/a
55530.00 Infrastructure 50,000 220,000 26,916 193,084 12%
Total Expenditures 50,000 220,000 94,417 125,583 43%
Net Change 119,150 (50,850) 30,427
City of Prior Lake
Revolving Equipment Fund
As of 9/30/2015
(Preliminary & Unaudited)
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 12,663 (7,488) 63%
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 9,862 9,862 n/a
Interest (losses) on investments 20,151 20,151 22,525 2,374 112%
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 80,523 48,696 253%
Other 31,827 31,827 80,523 48,696 253%
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 141,000 141,000 105,750 (35,250) 75%
Transfers in 141,000 141,000 105,750 (35,250) 75%
Total Revenues 473,978 473,978 337,524 (136,454) 71%
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 115,600 115,600 94,932 20,668 82%
410-42100.06-54350.00 Agency Forfeit Proceeds - - 56,578 (56,578) n/a
Fire
410-42200.00-55550.00 Vehicles 150,950 150,950 96,196 54,754 64%
Total Public Safety 266,550 266,550 247,706 18,844 93%
Public Works
Street
410-43100.00-55550.00 Vehicles 310,500 419,855 260,352 159,503 62%
Engineering
410-43050.00-55550.00 Vehicles - - - - n/a
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 11,261 8,739 56%
Total Public Works 330,500 439,855 271,613 168,242 62%
Culture and Recreation
410-45200.00-55550.00 Vehicles 108,000 108,000 91,046 16,954 84%
410-45200.00-55570.00 Machinery and Equipment
Total Culture & Recreation 108,000 108,000 91,046 16,954 84%
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 818,550 927,905 742,014 185,891 80%
Net Change (344,572) (453,927) (404,490)
City of Prior Lake
Facilities Management Fund
As of 9/30/2015
(Preliminary & Unaudited)
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 8,902 (2,556) 78%
440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 5,500 5,500 n/a
Interest (losses) on investments 11,458 11,458 14,402 2,944 126%
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 50,000 50,000 37,500 (12,500) 75%
Transfers in 50,000 50,000 37,500 (12,500) 75%
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 51,902 (609,556) 8%
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 1,077,545 1,590,379 40%
Total - Function General Government 2,749,305 2,749,305 1,078,372 1,670,933 39%
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 1,091,887 2,454,531 31%
Net Change (2,884,960) (2,884,960) (1,039,985)
City of Prior Lake
Water Fund
As of 9/30/2015
(Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual Positive (Negative)USED 09/30/2014 Positive (Negative)
Revenues
Interest (losses) on investments
601-00000.00-36210.00 Interest Earnings 60,000 60,000 37,989 (22,011) 63%44,248 (6,259)
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 24,899 24,899 n/a 71,260 (46,361)
Interest (losses) on investments 60,000 60,000 62,888 2,888 105%115,508 (52,620)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 515 515 n/a 687 (172)
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 48 48 n/a 7 41
Miscellaneous Revenues - - 563 563 n/a 694 (131)
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 3,253,750 3,253,750 1,751,306 (1,502,444) 54%1,398,485 352,821
601-49400.00-37160.00 Penalties 7,000 7,000 15,362 8,362 219%5,914 9,448
Water Charges 3,260,750 3,260,750 1,766,668 (1,494,082) 54%1,404,399 362,269
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 247,080 247,080 168,344 (78,736) 68%164,769 3,575
Capital Facility charges 247,080 247,080 168,344 (78,736) 68%164,769 3,575
Meter Sales
601-49400.00-37170.00 Water Meter Sales 93,400 93,400 60,659 (32,741) 65%57,802 2,856
601-49400.00-37175.00 Pressure Reducers 24,750 24,750 17,544 (7,206) 71%13,877 3,667
601-49400.00-37180.00 Frost Plates - - 28 28 n/a 74 (46)
Meter Sales 118,150 118,150 78,230 (39,920) 66%71,753 6,477
Total Revenues 3,685,980 3,685,980 2,076,694 (1,609,286) 56%1,757,123 319,571
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 804,695 804,695 1,434,038 (629,343) 178%625,832 (808,207)
41520.00 FINANCE 86,090 86,090 54,938 31,152 64%56,100 1,162
Total - Function General Government 890,785 890,785 1,488,976 (598,191) 167%681,931 (807,045)
Function: Water
49400.00 WATER 4,837,551 4,851,321 1,286,939 3,564,382 27%1,114,155 (172,784)
Total - Function Water 4,837,551 4,851,321 1,286,939 3,564,382 27%1,114,155 (172,784)
Total Expenditures 5,728,336 5,742,106 2,775,915 2,966,191 48%1,796,086 (979,829)
Net Change (2,042,356) (2,056,126) (699,221) (38,963)
City of Prior Lake
Sewer Fund
As of 9/30/2015
(Preliminary & Unaudited)
Variance from Variance
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual Positive (Negative)USED 09/30/2014 Positive (Negative)
Revenues
Interest (losses) on investments
604-00000.00-36210.00 Interest Earnings 52,000 52,000 20,887 (31,113) 40%33,499 (12,612)
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 15,254 15,254 n/a 54,171 (38,917)
Interest (losses) on investments 52,000 52,000 36,142 (15,858) 70%87,670 (51,529)
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 1,437,028 1,437,028 682,638 (754,390) 48%651,966 30,671
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,536,624 1,536,624 726,641 (809,983) 47%698,076 28,566
Sewer Charges 2,973,652 2,973,652 1,409,279 (1,564,373) 47%1,350,042 59,237
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 247,080 247,080 168,350 (78,730) 68%164,775 3,575
Capital Facility charges 247,080 247,080 168,350 (78,730) 68%164,775 3,575
Water Charges
604-49450.00-37160.00 Penalties 7,000 7,000 7,722 722 110%4,868 2,854
Water Charges 7,000 7,000 7,722 722 110%4,868 2,854
Total Revenues 3,279,732 3,279,732 1,621,493 (1,658,239) 49%1,607,355 14,138
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 247,760 247,760 1,281,880 (1,034,120) 517%355,250 (926,631)
41520.00 FINANCE 86,040 86,040 54,904 31,136 64%56,074 1,170
Total - Function General Government 333,800 333,800 1,336,784 (1,002,984) 400%411,324 (925,460)
Function: Sewer
49450.00 SEWER 2,984,136 3,039,136 1,551,060 1,488,076 51%1,580,695 29,635
Total - Function Sewer 2,984,136 3,039,136 1,551,060 1,488,076 51%1,580,695 29,635
Total Expenditures 3,317,936 3,372,936 2,887,844 485,092 86%1,992,019 (895,825)
Net Change (38,204) (93,204) (1,266,351) (384,664)
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 9/30/2015
(Preliminary & Unaudited)
Variance from Variance from
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual Positive (Negative)USED 09/30/2014 Positive (Negative)
Revenues
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants 95,000 95,000 - (95,000) 0%68,149 (68,149)
602-00000.00-33422.10 State Aids/Grants - - 2,190 2,190 n/a - 2,190
602-49420.00-33610.20 County-City Aids/Grants - 12,212 - (12,212) 0%- -
Intergovernmental 95,000 107,212 2,190 (105,022) 2%68,149 (65,959)
Interest (losses) on investments
602-00000.00-36210.00 Interest Earnings 5,560 5,560 6,680 1,120 120%6,601 78
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 4,237 4,237 n/a 9,301 (5,064)
Interest (losses) on investments 5,560 5,560 10,917 5,357 196%15,902 (4,986)
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 817,652 817,652 579,373 (238,279) 71%564,804 14,569
Storm Water Charges 817,652 817,652 579,373 (238,279) 71%564,804 14,569
Water Charges
602-49420.00-37160.00 Penalties - - 2,142 2,142 n/a 1,678 463
Water Charges - - 2,142 2,142 n/a 1,678 463
Total Revenues 918,212 930,424 594,621 (335,803) 64%650,534 (55,913)
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 21,000 21,000 276,519 (255,519) 1317%75,750 (200,769)
Total - Function General Government 21,000 21,000 276,519 (255,519) 1317%75,750 (200,769)
Function: Water Quality
49420.00 WATER QUALITY 1,104,299 1,144,299 338,492 805,807 30%407,154 68,662
Total - Function Water Quality 1,104,299 1,144,299 338,492 805,807 30%407,154 68,662
Total Expenditures 1,125,299 1,165,299 615,011 550,288 53%482,904 (132,107)
Net Change (207,087) (234,875) (20,390) 167,630
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 9/30/2015
(Preliminary & Unaudited)
Variance from Variance from
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual Positive (Negative)USED 09/30/2014 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 5,206 (794) 87%3,923 1,283
Charges for Services 7,000 7,000 5,206 (1,794) 74%3,923 1,283
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 500 500 1,901 1,401 380%1,289 612
240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 1,065 1,065 n/a 1,033 32
Interest (losses) on investments 500 500 2,967 2,467 593%2,323 (644)
Transfers in
240-00000.00-39203.00 Transfer from Other Funds - - - - n/a 28,825 (28,825)
Transfers in - - - - n/a 28,825 (28,825)
Total Revenues 166,500 166,500 90,258 (76,242) 54%112,394 (22,137)
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 148,595 148,595 86,441 62,154 58%75,864 (10,577)
46503.00 TECH VILLAGE INCUBATOR 40,000 40,000 9,461 30,539 24%2,008 (7,453)
Total Expenditures 188,595 188,595 95,902 92,693 51%77,872 (18,029)
Net Change (22,095) (22,095) (5,644) 34,522
COMPARATIVE
City of Prior Lake
Transit Fund
As of 9/30/2015
(Preliminary & Unaudited)
Variance from Variance from
2015 2015 2015 Amended Budget - % BDGT Actual from 2014
Budget Amended Actual BALANCE USED 09/30/2014 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 - - 186 186 n/a 15,856 (15,670)
603-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - - - n/a 40,498 (40,498)
Interest (losses) on investments - - 186 186 n/a 56,354 (56,168)
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 - - 186 186 n/a 387,218 169,445
Expenditures
Function: Transit
49804.00 Transit - - 186 (186) n/a 254,436 254,250
Total - Function Transit - - 186 (186) n/a 254,436 254,250
Total Expenditures - - 186 (186) n/a 254,436 254,250
Net Change - - - 132,781
COMPARATIVE