HomeMy WebLinkAbout5F 2016 1st Quarter Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: JUNE 13, 2016
AGENDA #: 5F
PREPARED BY: DON URAM, FINANCE DIRECTOR
PRESENTER: DON URAM
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 1st QUARTER 2016
FINANCIAL REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
March 31, 2016 for the following funds:
General Fund
Debt Service Funds
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 during first quarter
2016. 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.
If council members have questions please feel free to contact me at 952-
447-9841 for more information.
ALTERNATIVES: 1. A motion and second as part of the consent agenda to accept the
March 31, 2016 Financial Report as submitted.
2. Remove this item from the consent agenda for further discussion.
3. Take no action and provide the staff with specific direction.
RECOMMENDED
MOTION:
Alternative 1.
Page 2
MEMORANDUM
DATE: June 13, 2016
TO: Prior Lake City Council
FROM: Don Uram, Finance Director
RE: Financial Report dated 3/31/2016
The financial reports presented as part of this agenda item reflect activity during first quarter
2016. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for 2016:
Preliminary financial information reflects expenditures exceeding revenues by $950,876;
This is expected due to the primary funding source of property tax revenue not being
received until June.
The 2016 budget has been amended to use reserves of $233,000 for projects carried
forward from 2015.
Charges for Services is slightly higher than the same period 2015.
Building permits are significantly higher in comparison to 1st quarter 2015.
Expenditures are slightly higher than the same period 2015.
General Fund Revenues
Property taxes are received in June, December and January. Revenue from taxes are
recognized on a cash basis for the General Fund. Therefore, tax revenues will not be reflected
in the financial report until June.
Single family building permits were budgeted at 100 for 2016. W e have also issued two permits
for the Grainwood project totaling 168 units which are reflected under commercial/industrial.
Revenues associated with building permits and plan check fees are approximately $110k higher
than 1st quarter 2015. The following table provides a breakdown of the first quarter activity by
year.
Year Single
Family
Townhomes Commercial /
Industrial
Other
Permits
Total Change
from PY
2016 17 4 3 325 349 (16%)
2015 32 0 3 380 418 65%
2014 13 0 0 239 252 (43%)
2013 36 8 1 398 443 39%
The first half payments were received for Municipal State Aid and the township fire agreements.
First quarter Franchise fees and PEG fees collected in April have not been included in this
report.
Project engineering fees are less than budget. Staff has historically used a percentage of
construction costs for estimating engineering time. In recent years, engineering staff has used
Cartegraph to track their time on projects. The amount being charged is currently only 16% of
the budget.
Recreation revenues (including Park admission fees and facility rental) are slightly lower than 1st
quarter 2015, primarily due to a decrease in softball fees.
Page 3
Interest earnings are at 21% of the budget. The report also reflects a $54k increase in the fair
value of the securities. As rates decreased, 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 2016 represent 16 percent of the $12,945,738 budget. The level
of expenditures (as a percent of budget) is fairly even compared to the same period in 2015.
Some key points related to expenditures for 1st quarter 2016 are listed.
Expenditures in human resources is higher than first quarter 2015 due mainly to being
fully staffed within the departments for 2016.
Information technology is lower than 1Q 2015 due to technology investments that took
place in 2015 for host servers and nimble storage area.
Police personal services is also higher than 2015 due to the filling of vacant positions
and the addition of (1) new officer.
At this point in the year, there are no other significant variances to report. Costs associated with
street, park maintenance and recreation programs will be incurred during the summer and fall.
Debt Service Funds
Property taxes and special assessments are received in June, December and January (final tax
settlement). Prepayments have been received for special assessments. Interest earnings are at
30% of the budget.
The majority of our bond payments are due on the 1st and 15th of June and December. One
bond payment was made to Scott County in April 2016.
Capital Park Fund
Park Dedication Fees were received for the Dominium Gateway Shopping Center project in
March. Interest earnings are at 36% of the budget which is slightly lower than 2015.
The Pike Lake Master Plan was not completed in 2015 and has been carried over. A
collaborator group which is comprised of YMCA, SMSC, Three Rivers Parks District, PLSLWD
and City staff was established for the Pike Lake Park Master Plan. The group is in the early
stages of developing an RFP for designing the Plan although this project has been delayed for
another year due to more pressing priorities. The group will also explore grant opportunities for
funding the improvements. Staff anticipates that the Plan will be completed in 2016.
Revolving Equipment Fund
Property taxes, the primary funding source, are received in June, December and January (final
tax settlement). Interest earnings are at 22% 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.
Approved police vehicle, public works equipment, and parks equipment have taken place in first
quarter 2016. Vehicle and equipment purchases were approved at council meetings earlier in
the year.
Facilities Management Fund
Interest earnings are at 35% 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.
In 2014, 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. As of
Page 4
yearend 2015, the improvements associated with this project are almost complete and will be
finished in 2016.
Water Fund
The financial report for the Water Fund reflects only one billing cycle. Consumption remained
steady from 2015. Water revenues are about 11% 2016 budget.
Interest earnings are at 19% of the budget which is lower than the same period in 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.
Operating expenditures are higher and transfers are significantly lower than 2015. 2015
included project related transfers for the Highland, Marsh, Grainwood Improvement project. In
first quarter 2016, operational budgetary transfers have been made according to the approved
budget.
Sewer Fund
The financial report for the Sewer Fund reflects just one billing cycle. Consumption was about
equal to 2015. Sewer revenues are at 14% of the budget and slightly higher compared to first
quarter 2015. The estimated level of discharge is reevaluated annually in conjunction with the
preparation of the Capital Improvement Program.
Interest earnings are at 16% 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.
Operating expenditures for 2016 are at 18% of the approved budget. Operational budgetary
transfers for first quarter are reflected in the report. The prior year included transfers for capital
projects that took place in 2015.
Water Quality Fund
The financial report for the Water Quality Fund reflects one billing cycle. Water Quality revenues
are based on flat rates per billing cycle. Revenues are slightly lower than 2015 at 18% of the
budget.
Interest earnings are at 32% 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.
Operational expenditures are higher than first quarter 2015. Operational budgetary transfers for
first quarter are reflected in the report. The prior year included transfers for capital projects that
took place in 2015.
Economic Development Authority Special Revenue Fund
Property taxes are received in June, December and January (final tax settlement).
All facility rental payments have been received for the Technology Village Business Incubator.
Personnel, commissioner per diems, professional services and Technology Village Business
Incubator expenditures comprise the majority of the expenditures and are at 19% of budget as
of the first quarter end.
If you have any questions regarding these financial reports, please contact me at 952.447.9841.
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City of Prior Lake
General Fund Revenues
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive ( Negative) USED
Taxes
101 31010.00 Current Property Taxes ‐ General Purpos 7,482,395.00 7,482,395.00 0 (7,482,395) 0%
101 31040.00 Delinquent Property Taxes ‐ General Purp 0.00 0.00 0 ‐ n/a
101 31040.00 Fiscal Disparities 775,117.00 775,117.00 0 (775,117) 0%
101 33423.00 Market Value Credit Aid 0.00 0.00 0 ‐ n/a
Taxes 8,257,512.00 8,257,512.00 ‐ (8,257,512) 0%
Licenses and Permits
101 32100.00 Business Licenses 1,100 1,100 700.00 (400) 64%
101 32110.00 Liquor Licenses 69,990 69,990 175.00 (69,815) 0%
101 32160.00 Refuse Haulers 3,650 3,650 0.00 (3,650) 0%
101 32170.00 Outdoor Concert Permits 1,150 1,150 500.00 (650) 43%
101 32180.00 Cigarette Licenses 2,250 2,250 2,500.00 250 111%
101 32210.00 Building Permits 471,800 471,800 158,819 (312,981) 34%
101 32211.00 Retainage Forfeiture ‐ ‐ 6,332 6,332 n/a
101 32215.00 Mechanical Permits 32,770 32,770 7,274 (25,496) 22%
101 32230.00 Plumbing Permits 31,285 31,285 7,496 (23,790) 24%
101 32231.00 Sewer/Water Inspection 7,725 7,725 1,329 (6,396) 17%
101 32232.00 Plumbing Registrations 1,200 1,200 575 (625) 48%
101 32240.00 Animal Licenses 3,750 3,750 2,250 (1,500) 60%
101 32260.00 Burning Permits 2,625 2,625 725 (1,900) 28%
101 32270.00 Short‐term Rental Fee 1,200 1,200 200 (1,000) 17%
Licenses and Permits 630,495 630,495 188,875 (441,620) 30%
Intergovernmental
101 33160.10 Fed Aids/Grants ‐ Operating Grants ‐ ‐ ‐ ‐ n/a
101 33160.11 Fed Aids/Grants ‐ Operating Police 18,000 18,000 ‐ (18,000) 0%
101 33401.00 Local Government Aid 15,180 15,180 ‐ (15,180) 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 33417.00 State Aid ‐ Fire Training 7,000 7,000 ‐ (7,000) 0%
101 33418.00 State Road & Bridge Aid 316,827 316,827 162,607 (154,221) 51%
101 33420.00 State Fire Aid‐Ins. Prem. 206,000 206,000 ‐ (206,000) 0%
101 33422.10 State Aids/Grants ‐ Operating Grants ‐ ‐ ‐ ‐ n/a
102 33422.11 State Aids/Grants ‐ Operating Police ‐ ‐ ‐ ‐ n/a
101 33620.00 Township Fire & Resc Aid 311,068 311,068 155,534 (155,534) 50%
101 33621.00 Liaison Aid 45,860 45,860 ‐ (45,860) 0%
101 33630.00 Metro Council Grants 12,500 12,500 ‐ (12,500) 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 ‐ ‐ ‐ ‐ n/a
Intergovernmental 1,535,235 1,535,235 423,141 (1,112,095) 28%
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 ‐ (595,000) 0%
101 34103.00 Zoning & Subdivision Fees 17,050 17,050 4,036 (13,014) 24%
101 34104.00 Plan Check Fees 253,396 253,396 95,404 (157,992) 38%
101 34105.00 Sale of Maps/Publications ‐ Reports 1,000 1,000 259 (741) 26%
101 34107.00 Assessment Searches ‐ Reports 400 400 60 (340) 15%
101 34109.00 Project Admin/Eng Fees 343,000 343,000 56,405 (286,595) 16%
101 34203.00 Accident/Warrant Reports ‐ Reports 780 780 10 (770) 1%
101 34304.00 PEG Access Fees 34,000 34,000 ‐ (34,000) 0%
101 34731.00 Softball Fees 25,000 25,000 11,805 (13,195) 47%
City of Prior Lake
General Fund Revenues
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive ( Negative) USED
101 34735.00 Recreation Program Fees 40,000 40,000 22,536 (17,464) 56%
101 34740.00 Concessions ‐ Park Fees 750 750 ‐ (750) 0%
101 34760.01 Facility Rental ‐ Regular 73,361 73,361 18,262 (55,099) 25%
101 34761.00 Studio/Pavilion Rental 15,000 15,000 9,593 (5,407) 64%
101 34762.00 Park Shelter Rental 14,000 14,000 5,647 (8,353) 40%
101 34765.01 Tower Leases 243,069 243,069 101,711 (141,358) 42%
101 34780.00 Park Admission Fees 15,000 15,000 ‐ (15,000) 0%
101 34783.00 City Contract Services 43,500 43,500 ‐ (43,500) 0%
Charges for Services 1,714,306 1,714,306 325,728 (1,388,578) 19%
Fines and Forfeitures
101 35101.00 County Court Fines ‐ ‐ 200 200 n/a
101 35104.00 Prosecution Restitution ‐ ‐ ‐ ‐ n/a
Fines and Forfeitures ‐ ‐ 200 200 n/a
Interest (losses) on investments
101 36210.00 Interest Earnings 120,000 120,000 25,567 (94,433) 21%
101 36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 53,969 53,969 n/a
Interest (losses) on investments 120,000 120,000 79,536 (40,464) 66%
Other Miscellaneous Revenues
101 36102.00 County Assess. Collection 5,000 5,000 ‐ (5,000) 0%
101 36211.00 Developer Agreements 55,000 55,000 ‐ (55,000) 0%
101 36212.00 Miscellaneous Revenue 95,550 95,550 1,243 (94,307) 1%
101 36230.00 Contributions & Donations ‐ ‐ ‐ ‐ n/a
101 39102.00 Sale of Property ‐ ‐ ‐ ‐ n/a
Other Miscellaneous Revenues 155,550 155,550 1,243 (154,307) 1%
Other financing sources
101 39203.00 Transfer from Other Funds 532,640 362,640 90,660 (271,980) 25%
Transfers in 532,640 362,640 90,660 (271,980) 25%
Total Revenues 12,945,738 12,775,738 1,109,382 (11,666,356) 9%
City of Prior Lake
General Fund Expenditures
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive (Negative) USED
Function: General Government
41110.00 MAYOR & COUNCIL 55,409 55,409 11,911 43,498 21%
41130.00 ORDINANCE 7,500 7,500 936 6,564 12%
41320.00 ADMINISTRATION 404,081 404,081 91,977 312,104 23%
41330.00 BOARDS & COMMISSIONS 10,539 10,539 1,672 8,867 16%
41410.00 ELECTIONS 29,640 29,640 288 29,352 1%
41520.00 FINANCE 444,977 444,977 86,731 358,246 19%
41530.00 ACCOUNTING ‐ ‐ ‐ ‐ n/a
41540.00 INTERNAL AUDITING 28,150 28,150 4,690 23,460 17%
41550.00 ASSESSING 169,750 169,750 ‐ 169,750 0%
41610.00 LEGAL 200,000 200,000 27,016 172,984 14%
41820.00 HUMAN RESOURCES 154,831 154,831 29,352 125,479 19%
41830.00 COMMUNICATIONS 114,393 114,393 26,928 87,465 24%
41910.00 COMMUNITY DEVELOPMENT 337,359 337,359 59,113 278,246 18%
41920.00 INFORMATION TECHNOLOGY 336,161 336,161 58,276 277,885 17%
41940.00 FACILITIES ‐ CITY HALL 452,059 452,059 82,245 369,813 18%
Total ‐ Function General Government 2,744,849 2,744,849 481,135 2,263,713 18%
Function: Public Safety
42100.00 POLICE 3,542,365 3,554,365 749,613 2,804,752 21%
42200.00 FIRE 902,032 902,032 139,032 763,000 15%
42400.00 BUILDING INSPECTION 595,843 595,843 110,943 484,900 19%
42500.00 EMERGENCY MANAGEMENT 9,750 9,750 433 9,317 4%
42700.00 ANIMAL CONTROL 26,448 26,448 6,300 20,148 24%
Total ‐ Function Public Safety 5,076,437 5,088,437 1,006,321 4,082,116 20%
Function: Public Works
43050.00 ENGINEERING 387,626 387,626 65,124 322,502 17%
43100.00 STREET 1,385,392 1,406,392 202,198 1,204,194 14%
43400.00 CENTRAL GARAGE 380,369 380,369 59,063 321,306 16%
Total ‐ Function Public Works 2,153,387 2,174,387 326,385 1,848,002 15%
Function: Culture and Recreation
45100.00 RECREATION 406,218 406,218 61,376 344,843 15%
45200.00 PARKS 1,433,838 1,633,838 174,893 1,458,945 11%
45500.00 LIBRARIES 46,289 46,289 10,148 36,141 22%
46100.00 NATURAL RESOURCES ‐ ‐ ‐ ‐ n/a
Total ‐ Function Culture and Recreation 1,886,346 2,086,346 246,417 1,839,928 12%
00000.00 Transfer to Other Funds 1,084,719 1,084,719 ‐ 1,084,719 0%
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE ‐ ‐ ‐ ‐ n/a
Total ‐ Function Contingent Reserve ‐ ‐ ‐ ‐ n/a
Total Expenditures 12,945,738 13,178,738 2,060,258 11,118,479 16%
City of Prior Lake
Debt Service Funds
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive (Negative) USED
Revenues
Property Taxes
Current Property Taxes 2,340,850 2,340,850 ‐ (2,340,850) 0%
Special Assessments
City Assess. Collections ‐ ‐ 17,914 17,914 n/a
County Assess. Collection 762,607 762,607 ‐ (762,607) 0%
Interest (losses) on investments
Interest Earnings 24,245 24,245 7,211 (17,034) 30%
Unrealized Inv.Gain(Loss)‐ ‐ 14,138 14,138 n/a
Miscellaneous Revenues
Miscellaneous Revenues ‐ ‐ ‐ ‐ n/a
Other Financing Sources
Transfer from Other Funds 1,697,997 1,697,997 ‐ (1,697,997) 0%
Bond Proceeds ‐ ‐ ‐ ‐ n/a
Bond Discount/Premium ‐ ‐ ‐ ‐ n/a
Total Revenues 4,825,699 4,825,699 39,263 (4,786,436) 1%
Expenditures
Debt Service
Principal 3,792,365 3,792,365 ‐ 3,792,365 0%
Interest and Other 1,317,807 1,317,807 ‐ 1,317,807 0%
Refunded Bond Escrow Pmts ‐ ‐ ‐ ‐ n/a
Transfers to Other Funds ‐ ‐ ‐ ‐ n/a
Bond Issuance Costs ‐ ‐ ‐ ‐ n/a
Bond Discount/Premium ‐ ‐ ‐ ‐ n/a
Total Expenditures 5,110,172 5,110,172 ‐ 5,110,172 0%
Net Change (284,473) (284,473) 39,263
City of Prior Lake
Cable Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 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 ‐ ‐ ‐ ‐ n/a
210‐41340.00‐55570.00 Machinery & Equipment 6,360 6,360 ‐ 6,360 0%
Total Expenditures 6,360 6,360 ‐ 6,360 0%
Net Change (1,227) (1,227) ‐
City of Prior Lake
Capital Park Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 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 5,950 (17,450) 25%
225‐45200.00‐34791.00 Dedication Fees 567,000 567,000 450,000 (117,000) 79%
Charges for Services 590,400 590,400 455,950 (134,450) 77%
Interest (losses) on investments
225‐00000.00‐36210.00 Interest Earnings 7,000 7,000 2,534 (4,466) 36%
225‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 5,020 5,020 n/a
Interest (losses) on investments 7,000 7,000 7,555 555 108%
Contributions and donations
225‐00000.00‐36230.00 Contributions & Donations ‐ ‐ 3,375 3,375 n/a
Contributions and donations ‐ ‐ 3,375 3,375 n/a
Total Revenues 597,400 597,400 466,880 (130,520) 78%
Expenditures
54320.00 Miscellaneous ‐ ‐ 3,712 (3,712) n/a
59203.00 Transfers to Other Funds 170,000 ‐ ‐ ‐ n/a
53100.80 Professional Services‐General ‐ ‐ 698 (698) n/a
55530.00 Infrastructure 170,000 170,000 182,499 (12,499) 107%
Total Expenditures 340,000 170,000 186,909 (16,909) 110%
Net Change 257,400 427,400 279,971
City of Prior Lake
Revolving Equipment Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive (Negative) USED
Revenues
Taxes
410‐00000.00‐31010.00 Current Property Taxes 325,000 325,000 ‐ (325,000) 0%
Taxes 325,000 325,000 ‐ (325,000) 0%
Intergovernmental
410‐00000.00‐33160.10 Fed Aids/Grants ‐ Operating Grants ‐ ‐ ‐ ‐ n/a
410‐00000.00‐33422.10 State Aids/Grants ‐ Operating Grants ‐ ‐ ‐ ‐ n/a
Intergovernmental ‐ ‐ ‐ ‐ n/a
Interest (losses) on investments
410‐00000.00‐36210.00 Interest Earnings 15,067 15,067 3,326 (11,741) 22%
410‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 7,105 7,105 n/a
Interest (losses) on investments 15,067 15,067 10,430 (4,637) 69%
Sale of assets
410‐00000.00‐39102.00 Sale of Property 24,000 24,000 ‐ (24,000) 0%
Sale of assets 24,000 24,000 ‐ (24,000) 0%
Other
410‐42100.06‐39104.00 Forfeiture Property Sales ‐ ‐ ‐ ‐ n/a
Other ‐ ‐ ‐ ‐ n/a
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%
Debt Issued
410‐00000.00‐39310.00 G.O. Bond Proceeds 400,000 400,000 ‐ (400,000) 0%
Debt Issued 400,000 400,000 ‐ (400,000) 0%
Total Revenues 905,067 905,067 45,680 (859,387) 5%
Expenditures
Public Safety
Police
410‐42100.00‐55550.00 Vehicles 98,116 98,116 81,547 16,569 83%
410‐42100.06‐54350.00 Agency Forfeit Proceeds ‐ ‐ ‐ ‐ n/a
Fire
410‐42200.00‐55550.00 Vehicles 103,000 103,000 441 102,559 0%
410‐42200.00‐55570.00 Machinery & Equipment ‐ ‐ ‐ ‐ n/a
Total Public Safety 201,116 201,116 81,989 119,127 41%
Public Works
Street
410‐43100.00‐55550.00 Vehicles 435,690 435,690 200 435,490 0%
410‐43100.00‐55570.00 Machinery & Equipment ‐ ‐ 41,024 (41,024) n/a
Engineering
410‐43050.00‐55550.00 Vehicles ‐ ‐ ‐ ‐ n/a
Central Garage
410‐43400.00‐55550.00 Vehicles 20,000 20,000 ‐ 20,000 0%
Total Public Works 455,690 455,690 41,224 414,466 9%
Culture and Recreation
410‐45200.00‐55530.00 Infrastructure ‐ ‐ ‐ ‐ n/a
410‐45200.00‐55550.00 Vehicles 279,645 279,645 177 279,468 0%
410‐45200.00‐55570.00 Machinery and Equipment 264,504 264,504 155,877 108,627 59%
Total Culture & Recreation 544,149 544,149 156,054 388,095 29%
Water
410‐49400.00‐55550.00 Vehicles ‐ ‐ ‐ ‐ n/a
410‐49400.00‐55570.00 Machinery and Equipment ‐ ‐ ‐ ‐ n/a
Water Quality
410‐49420.00‐55550.00 Vehicles ‐ ‐ ‐ ‐ n/a
Sewer
410‐49450.00‐55570.00 Machinery and Equipment ‐ ‐ ‐ ‐ n/a
Total Utility ‐ ‐ ‐ ‐ n/a
Total Expenditures 1,200,955 1,200,955 279,267 921,688 23%
Net Change (295,888) (295,888) (233,587)
City of Prior Lake
Facilities Management Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from
2016 2016 2016 Amended Budget ‐ % BDGT
Budget Amended Actual Positive (Negative) USED
Revenues
Interest (losses) on investments
440‐00000.00‐36210.00 Interest Earnings 8,029 8,029 2,777 (5,252) 35%
440‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 5,405 5,405 n/a
Interest (losses) on investments 8,029 8,029 8,182 153 102%
Transfers in
440‐00000.00‐39203.00 Transfer from Other Funds 55,000 55,000 13,750 (41,250) 25%
Transfers in 55,000 55,000 13,750 (41,250) 25%
Debt Issued
440‐00000.00‐39310.00 G.O. Bond Proceeds 620,000 620,000 ‐ (620,000) 0%
Debt Issued 620,000 620,000 ‐ (620,000) 0%
Energy Lease Issued
440‐00000.00‐39335.00 Lease Proceeds ‐ ‐ ‐ ‐ n/a
Energy Lease Issued ‐ ‐ ‐ ‐ n/a
Total Revenues 683,029 683,029 21,932 (661,097) 3%
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 45,614 45,614 ‐ 45,614 0%
41910.00 COMMUNITY DEVELOPMENT ‐ ‐ ‐ ‐ n/a
41960.00 GESP ‐ ‐ 101,294 (101,294) n/a
Total ‐ Function General Government 45,614 45,614 101,294 (55,680) 222%
Function: Public Safety
42100.00 POLICE 44,558 44,558 ‐ 44,558 0%
42200.00 FIRE 36,284 36,284 ‐ 36,284 0%
Total ‐ Function Public Safety 80,842 80,842 ‐ 80,842 0%
Function: Public Works
43400.00 CENTRAL GARAGE ‐ ‐ ‐ ‐ n/a
Total ‐ Function Public Works ‐ ‐ ‐ ‐ n/a
Function: Culture and Recreation
45100.00 RECREATION ‐ ‐ ‐ ‐ n/a
45500.00 LIBRARIES ‐ ‐ ‐ ‐ n/a
Total ‐ Function Culture and Recreation ‐ ‐ ‐ ‐ n/a
Function: Water
49400.00 Building & Building Improvement 619,950 619,950 ‐ 619,950 0%
Total ‐ Function Water 619,950 619,950 ‐ 619,950 0%
Total Expenditures 746,406 746,406 101,294 645,112 14%
Net Change (63,377) (63,377) (79,362)
City of Prior Lake
Water Fund
As of 3/31/2016
(Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
3/31/2015 Positive (Negative)
Revenues
Intergovernmental
601‐00000.00‐33633.00 Watershed Dist Grants/Aid ‐ ‐ ‐ ‐ n/a ‐ ‐
Intergovernmental ‐ ‐ ‐ ‐ n/a ‐ ‐
Interest (losses) on investments
601‐00000.00‐36210.00 Interest Earnings 60,000 60,000 11,513 (48,487) 19% 17,158 (5,645)
601‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 23,335 23,335 n/a 28,730 (5,396)
Interest (losses) on investments 60,000 60,000 34,848 (25,152) 58% 45,888 (11,040)
Debt Issued
601‐00000.00‐39310.00 G.O. Bond Proceeds 950,000 950,000 ‐ (950,000) 0%‐ ‐
Debt Issued 950,000 950,000 ‐ (950,000) 0%‐ ‐
Miscellaneous Revenues
601‐00000.00‐36212.00 Miscellaneous Revenue ‐ ‐ 100 100 n/a 100 ‐
601‐00000.00‐36102.00 County Assess Collection ‐ ‐ ‐ ‐ n/a ‐ ‐
601‐49400.00‐37190.00 Miscellaneous Revenue Adj ‐ ‐ 0 0 n/a 8 (8)
601‐00000.00‐37901.00 Contribution (Other Fund)‐ ‐ ‐ ‐ n/a ‐ ‐
601‐00000.00‐37902.00 Contribution (Developers)‐ ‐ ‐ ‐ n/a ‐ ‐
Miscellaneous Revenues ‐ ‐ 100 100 n/a 108 (8)
Water Charges
601‐49400.00‐37100.00 Utility Receipts ‐ Water 3,363,646 3,363,646 357,520 (3,006,126) 11% 356,548 972
601‐49400.00‐37160.00 Penalties 7,000 7,000 2,817 (4,183) 40% 2,560 257
Water Charges 3,370,646 3,370,646 360,337 (3,010,309) 11% 359,108 1,229
Capital Facility charges
601‐49400.00‐37110.00 Capital Facility Revenue 254,340 254,340 42,582 (211,758) 17% 41,856 726
Capital Facility charges 254,340 254,340 42,582 (211,758) 17% 41,856 726
Meter Sales
601‐49400.00‐37170.00 Water Meter Sales 104,150 104,150 11,841 (92,309) 11% 19,165 (7,324)
601‐49400.00‐37175.00 Pressure Reducers 35,400 35,400 4,236 (31,164) 12% 5,049 (813)
601‐49400.00‐37180.00 Frost Plates ‐ ‐ ‐ ‐ n/a (0) 0
Meter Sales 139,550 139,550 16,077 (123,473) 12% 24,213 (8,136)
Total Revenues 4,774,536 4,774,536 453,944 (4,320,592) 10% 471,174 (17,230)
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 828,464 828,464 71,580 756,884 9% 742,864 671,284
41520.00 FINANCE 87,683 87,683 20,604 67,079 23% 15,458 (5,147)
Total ‐ Function General Government 916,147 916,147 92,184 823,963 10% 758,322 666,137
Function: Water
49400.00 WATER 4,179,428 4,179,428 314,037 3,865,391 8% 282,192 (31,845)
Total ‐ Function Water 4,179,428 4,179,428 314,037 3,865,391 8% 282,192 (31,845)
Total Expenditures 5,095,575 5,095,575 406,221 4,689,353 8% 1,040,514 634,293
Net Change (321,039) (321,038) 47,723 (569,340)
City of Prior Lake
Sewer Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
3/31/2015 Positive (Negative)
Revenues
Interest (losses) on investments
604‐00000.00‐36210.00 Interest Earnings 40,000 40,000 6,291 (33,709) 16% 10,141 (3,850)
604‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 12,651 12,651 n/a 17,966 (5,315)
Interest (losses) on investments 40,000 40,000 18,942 (21,058) 47% 28,107 (9,165)
Miscellaneous Revenues
604‐00000.00‐37901.00 Contribution (Other Fund)‐ ‐ ‐ ‐ n/a ‐ ‐
604‐00000.00‐37902.00 Contribution (Developers)‐ ‐ ‐ ‐ n/a ‐ ‐
Miscellaneous Revenues ‐ ‐ ‐ ‐ n/a ‐ ‐
Sewer Charges
604‐49450.00‐37102.00 Utility Receipts ‐ Sewer 1,207,960 1,207,960 169,476 (1,038,484) 14% 168,107 1,369
604‐49450.00‐37104.00 Utility Recpt‐Sewer MCES 1,327,560 1,327,560 185,478 (1,142,082) 14% 178,918 6,560
Sewer Charges 2,535,520 2,535,520 354,954 (2,180,566) 14% 347,025 7,929
Capital Facility charges
604‐49450.00‐37110.00 Capital Facility Revenue 254,970 254,970 42,583 (212,387) 17% 41,857 726
Capital Facility charges 254,970 254,970 42,583 (212,387) 17% 41,857 726
Water Charges
604‐49450.00‐37160.00 Penalties 7,000 7,000 2,766 (4,234) 40% 2,210 556
Water Charges 7,000 7,000 2,766 (4,234) 40% 2,210 556
Total Revenues 2,837,490 2,837,490 419,244 (2,418,246) 15% 419,198 46
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 251,320 251,320 62,830 188,490 25% 899,400 836,570
41520.00 FINANCE 87,683 87,683 20,577 67,106 23% 15,427 (5,150)
Total ‐ Function General Government 339,003 339,003 83,407 255,596 25% 914,827 831,420
Function: Sewer
49450.00 SEWER 2,593,298 2,593,298 469,965 2,123,333 18% 560,214 90,249
Total ‐ Function Sewer 2,593,298 2,593,298 469,965 2,123,333 18% 560,214 90,249
Total Expenditures 2,932,301 2,932,301 553,372 2,378,929 19% 1,475,040 921,668
Net Change (94,811) (94,811) (134,128) (1,055,842)
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
3/31/2015 Positive (Negative)
Revenues
Intergovernmental
602‐00000.00‐33160.10 Fed Aids/Grants ‐ ‐ ‐ ‐ n/a ‐ ‐
602‐00000.00‐33422.10 State Aids/Grants 34,790 34,790 ‐ (34,790) 0%‐ ‐
602‐49420.00‐33610.20 County‐City Aids/Grants ‐ ‐ ‐ ‐ n/a ‐ ‐
602‐49420.00‐33633.00 Watershed Dist Grants/Aid ‐ ‐ ‐ ‐ n/a ‐ ‐
Intergovernmental 34,790 34,790 ‐ (34,790) 0%‐ ‐
Interest (losses) on investments
602‐00000.00‐36210.00 Interest Earnings 10,000 10,000 3,158 (6,842) 32% 2,659 499
602‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 6,236 6,236 n/a 4,907 1,329
Interest (losses) on investments 10,000 10,000 9,393 (607) 94% 7,566 1,827
Miscellaneous Revenues
602‐00000.00‐37901.00 Contribution (Other Fund)‐ ‐ ‐ ‐ n/a ‐ ‐
Miscellaneous Revenues ‐ ‐ ‐ ‐ n/a ‐ ‐
Storm Water Charges
602‐49420.00‐37120.00 Storm Water Revenue 838,537 838,537 154,913 (683,624) 18% 156,650 (1,736)
Storm Water Charges 838,537 838,537 154,913 (683,624) 18% 156,650 (1,736)
Water Charges
602‐49420.00‐37160.00 Penalties ‐ ‐ 660 660 n/a 634 26
Water Charges ‐ ‐ 660 660 n/a 634 26
Total Revenues 883,327 883,327 164,967 (718,360) 19% 164,850 117
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 21,000 21,000 5,250 15,750 25% 247,951 242,701
Total ‐ Function General Government 21,000 21,000 5,250 15,750 25% 247,951 242,701
Function: Water Quality
49420.00 WATER QUALITY 942,553 942,553 82,882 859,671 9% 53,367 (29,515)
Total ‐ Function Water Quality 942,553 942,553 82,882 859,671 9% 53,367 (29,515)
Total Expenditures 963,553 963,553 88,132 875,421 9% 301,318 213,186
Net Change (80,226) (80,226) 76,835 (136,468)
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 3/31/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
3/31/2015 Positive (Negative)
Revenues
Taxes
240‐00000.00‐31010.00 Current Property Taxes 155,000 155,000 ‐ (155,000) 0%‐ ‐
240‐00000.00‐33423.00 Market Value Credit Aid ‐ ‐ ‐ ‐ n/a ‐ ‐
Taxes 155,000 155,000 ‐ (155,000) 0%‐ ‐
Intergovernmental
240‐46500.00‐33610.14 County‐City Aids/Grants ‐ Operat ‐ ‐ ‐ ‐ n/a ‐ ‐
Intergovernmental ‐ ‐ ‐ ‐ n/a ‐ ‐
Charges for Services
240‐00000.00‐34111.00 Administrative Charges ‐ ‐ ‐ ‐ n/a ‐ ‐
240‐46503.00‐34760.02 Facility Rental ‐ EDA 10,000 10,000 2,180 (7,820) 22% 2,009 171
Charges for Services 10,000 10,000 2,180 (7,820) 22% 2,009 171
Interest (losses) on investments
240‐00000.00‐36210.00 Interest Earnings 500 500 754 254 151% 706 49
240‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 1,103 1,103 n/a 1,358 (255)
Interest (losses) on investments 500 500 1,858 1,358 372% 2,064 206
Transfers in
240‐00000.00‐39203.00 Transfer from Other Funds ‐ ‐ ‐ ‐ n/a ‐ ‐
Transfers in ‐ ‐ ‐ ‐ n/a ‐ ‐
Total Revenues 165,500 165,500 4,038 (161,462) 2% 4,073 (35)
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 153,775 153,775 33,440 120,335 22% 36,587 3,147
46503.00 TECH VILLAGE INCUBATOR 27,650 27,650 1,457 26,193 5% 747 (711)
Total Expenditures 181,425 181,425 34,897 146,528 19% 37,334 2,436
Net Change (15,925) (15,925) (30,860) (33,261)
COMPARATIVE