HomeMy WebLinkAbout5I 2016 2nd Quarter Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: JULY 25, 2016
AGENDA #: 5I
PREPARED BY: DON URAM, FINANCE DIRECTOR
PRESENTER: DON URAM
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 2nd QUARTER 2016
FINANCIAL REPORT
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
June 30, 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 the first half of
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 as part of the consent agenda to accept the June 30, 2016
Financial Report as submitted.
2. Remove this item from the consent agenda for additional discussion.
RECOMMENDED
MOTION:
Alternative 1.
Page 2
MEMORANDUM
DATE: July 25, 2016
TO: Prior Lake City Council
FROM: Don Uram, Finance Director
RE: Financial Report dated 6/30/2016
The financial reports presented as part of this agenda item reflect activity during the first half of
2016. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for second quarter 2016:
Preliminary financial information reflects revenues exceeding expenditures by $1.47M
First half property taxes were collected in June and are comparable to the prior year
The 2016 budget has been amended to use reserves of $233,000 for projects carried
forward from 2015.
Charges for Services is slightly lower than the same period 2015.
Building permits continue to be higher in comparison to 2nd quarter 2015.
Expenditures are slightly lower 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. First half property taxes have been collected
and are comparable to the prior year.
Single family building permits were budgeted at 100 for 2016. Revenues associated with
building permits and plan check fees are approximately $143k higher than 2nd quarter 2015. The
following table provides a breakdown of the second quarter activity by year.
Year Single
Family
Townhomes Commercial /
Industrial
Other
Permits
Total Change
from PY
2016 58 4 6 945 1013 (4%)
2015 61 6 23 961 1051 19%
2014 53 0 1 830 884 (23%)
2013 73 27 1 1042 1143 15%
The average value associated with the single family permits is $356k which has increased $37K
from the average for 2015.
The first half payments were received in first quarter for Municipal State Aid and the township
fire agreements.
First quarter Franchise fees and PEG fees collected in April and May are included in this report.
Second quarter fees are recorded in July. Fees collected are comparable to last year at this
time.
Project engineering fees are less than budget. This is due to fewer projects being done in 2016
than were budgeted. 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 32% of the budget.
Recreation revenues (including Park admission fees and facility rental) are slightly higher than
2nd quarter 2015. Softball fees have decreased significantly due to fewer participants but
Program fees and Facility/Shelter Rental fees have increased compared to this time last year.
Page 3
Interest earnings are at 38% of the budget. Interest rates on investments are continuing to
decrease which is lowering the rate of return we earn. The report also reflects a $58k 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 38% of the $13,008,738 amended budget. The
level of expenditures (as a percent of budget) is slightly less compared to the same period in
2015. Some key points related to expenditures for 2nd quarter 2016 are listed.
Expenditures in human resources is higher than 2015 due mainly to being fully staffed
within the department for 2016.
Police remains higher than 2015, but at 47% of budget. This is primarily due to the Chief
position being open for several months in 2015 and the addition of 2 new officers in
2016.
Streets is lower than 2015 due to the timing of the payment for seal coating which was
made in June last year. The 2016 project hasn’t been invoiced yet.
Recreation is slightly higher than 2015 due to the reinstatement of several program
offerings that had been cut for summer 2015.
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.
Scheduled bond payments were made on the 1st and 15th of June. One bond payment was
made to Scott County in April 2016. Other bond payments will be due on the 1st and 15th of
December.
Capital Park Fund
Park Dedication Fees were received for the Dominium Gateway Shopping Center project in
March.
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, PLSL
Watershed 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, were received in June. Bond proceeds were
received in May. Interest earnings are at 39% 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. Total expenditures for 2016 equal $414,251.
Facilities Management Fund
Page 4
We will be bonding for and replacing the Maintenance Center roof this fall. Estimated cost is
$620,000.
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
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 three billing cycles. Consumption continues to
remain steady compared to 2015. Water revenues are slightly higher than 2015 mainly due to
an increase in rates effective 3/1/16.
Operating expenditures are lower and transfers are much higher than 2015. 2016 year to date
includes a final project related transfer to fund the Welcome Ave Project. In 2016, operational
budgetary transfers have been made according to the approved budget.
Sewer Fund
The financial report for the Sewer Fund reflects three billing cycles. Consumption is steady
compared to prior year. Sewer revenues are at 46% of the budget and higher compared to
2015. The increase in revenue is due to the rate increase that was effective 3/1/16. The
estimated level of discharge is reevaluated annually in conjunction with the preparation of the
Capital Improvement Program.
Operating expenditures for 2016 are at 42% of the approved budget and slightly higher than the
same time period 2015. Operational budgetary transfers for first and second 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 three billing cycles. Water Quality
revenues are based on flat rates per billing cycle. Revenues are steady compared to 2015 at
53% of the budget.
Operational expenditures are lower than 2015. Operational budgetary transfers for first and
second 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).
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 41% of budget as
of the second 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 6/30/2016
(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 3,812,228 (3,670,167) 51%
101 31020.00 Delinquent Property Taxes ‐ General Purp 0.00 0.00 37,776 37,776 n/a
101 31040.00 Fiscal Disparities 775,117.00 775,117.00 416,486 (358,631) 54%
101 33423.00 Market Value Credit Aid 0.00 0.00 0 ‐ n/a
Taxes 8,257,512.00 8,257,512.00 4,266,489.89 (3,991,022) 52%
Licenses and Permits
101 32100.00 Business Licenses 1,100 1,100 800.00 (300) 73%
101 32110.00 Liquor Licenses 69,990 69,990 70,315.00 325 100%
101 32160.00 Refuse Haulers 3,650 3,650 3,450.00 (200) 95%
101 32170.00 Outdoor Concert Permits 1,150 1,150 1,800.00 650 157%
101 32180.00 Cigarette Licenses 2,250 2,250 2,500.00 250 111%
101 32210.00 Building Permits 471,800 471,800 299,521 (172,279) 63%
101 32211.00 Retainage Forfeiture ‐ ‐ 6,332 6,332 n/a
101 32215.00 Mechanical Permits 32,770 32,770 35,158 2,388 107%
101 32230.00 Plumbing Permits 31,285 31,285 34,984 3,699 112%
101 32231.00 Sewer/Water Inspection 7,725 7,725 3,672 (4,053) 48%
101 32232.00 Plumbing Registrations 1,200 1,200 650 (550) 54%
101 32240.00 Animal Licenses 3,750 3,750 3,060 (690) 82%
101 32260.00 Burning Permits 2,625 2,625 1,400 (1,225) 53%
101 32270.00 Short‐term Rental Fee 1,200 1,200 800 (400) 67%
Licenses and Permits 630,495 630,495 464,442 (166,053) 74%
Intergovernmental
101 33160.10 Fed Aids/Grants ‐ Operating Grants ‐ ‐ ‐ ‐ n/a
101 33160.11 Fed Aids/Grants ‐ Operating Police 18,000 18,000 5,243 (12,757) 29%
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 ‐ ‐ (393) (393) 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 420,000 420,000 210,000 (210,000) 50%
101 33700.23 Miscellaneous Grants ‐ Capital Parks ‐ ‐ ‐ ‐ n/a
Intergovernmental 1,535,235 1,535,235 532,990 (1,002,245) 35%
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 152,179 (442,821) 26%
101 34103.00 Zoning & Subdivision Fees 17,050 17,050 14,307 (2,744) 84%
101 34104.00 Plan Check Fees 253,396 253,396 175,816 (77,580) 69%
101 34105.00 Sale of Maps/Publications ‐ Reports 1,000 1,000 874 (126) 87%
101 34107.00 Assessment Searches ‐ Reports 400 400 180 (220) 45%
101 34109.00 Project Admin/Eng Fees 343,000 343,000 110,610 (232,390) 32%
101 34203.00 Accident/Warrant Reports ‐ Reports 780 780 48 (732) 6%
101 34304.00 PEG Access Fees 34,000 34,000 8,061 (25,939) 24%
101 34731.00 Softball Fees 25,000 25,000 12,999 (12,001) 52%
City of Prior Lake
General Fund Revenues
As of 6/30/2016
(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 40,936 936 102%
101 34740.00 Concessions ‐ Park Fees 750 750 77 (673) 10%
101 34760.01 Facility Rental ‐ Regular 73,361 73,361 36,644 (36,717) 50%
101 34761.00 Studio/Pavilion Rental 15,000 15,000 11,534 (3,466) 77%
101 34762.00 Park Shelter Rental 14,000 14,000 12,627 (1,373) 90%
101 34765.01 Tower Leases 243,069 243,069 154,169 (88,900) 63%
101 34780.00 Park Admission Fees 15,000 15,000 10,071 (4,929) 67%
101 34783.00 City Contract Services 43,500 43,500 21,084 (22,416) 48%
Charges for Services 1,714,306 1,714,306 762,215 (952,091) 44%
Fines and Forfeitures
101 35101.00 County Court Fines ‐ ‐ 400 400 n/a
101 35104.00 Prosecution Restitution ‐ ‐ 3,712 3,712 n/a
Fines and Forfeitures ‐ ‐ 4,112 4,112 n/a
Interest (losses) on investments
101 36210.00 Interest Earnings 120,000 120,000 45,472 (74,528) 38%
101 36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 58,385 58,385 n/a
Interest (losses) on investments 120,000 120,000 103,857 (16,143) 87%
Other Miscellaneous Revenues
101 36102.00 County Assess. Collection 5,000 5,000 2,735 (2,265) 55%
102 36101.00 City Assess. Collection ‐ ‐ 2,004 2,004 n/a
101 36211.00 Developer Agreements 55,000 55,000 13,500 (41,500) 25%
101 36212.00 Miscellaneous Revenue 95,550 95,550 12,864 (82,686) 13%
101 36230.00 Contributions & Donations ‐ ‐ 3,000 3,000 n/a
101 39102.00 Sale of Property ‐ ‐ 10,069 10,069 n/a
Other Miscellaneous Revenues 155,550 155,550 44,171 (111,379) 28%
Other financing sources
101 39203.00 Transfer from Other Funds 532,640 362,640 181,320 (181,320) 50%
Transfers in 532,640 362,640 181,320 (181,320) 50%
Total Revenues 12,945,738 12,775,738 6,359,597 (6,416,141) 50%
City of Prior Lake
General Fund Expenditures
As of 6/30/2016
(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 25,653 29,756 46%
41130.00 ORDINANCE 7,500 7,500 3,053 4,447 41%
41320.00 ADMINISTRATION 404,081 404,081 211,459 192,622 52%
41330.00 BOARDS & COMMISSIONS 10,539 10,539 4,880 5,659 46%
41410.00 ELECTIONS 29,640 29,640 311 29,329 1%
41520.00 FINANCE 444,977 444,977 202,814 242,163 46%
41530.00 ACCOUNTING ‐ ‐ ‐ ‐ n/a
41540.00 INTERNAL AUDITING 28,150 28,150 22,690 5,460 81%
41550.00 ASSESSING 169,750 169,750 167,500 2,250 99%
41610.00 LEGAL 200,000 200,000 67,115 132,885 34%
41820.00 HUMAN RESOURCES 154,831 154,831 69,450 85,382 45%
41830.00 COMMUNICATIONS 114,393 114,393 52,726 61,667 46%
41910.00 COMMUNITY DEVELOPMENT 337,359 337,359 138,917 198,442 41%
41920.00 INFORMATION TECHNOLOGY 336,161 336,161 109,184 226,977 32%
41940.00 FACILITIES ‐ CITY HALL 452,059 452,059 229,015 223,044 51%
Total ‐ Function General Government 2,744,849 2,744,849 1,304,767 1,440,081 48%
Function: Public Safety
42100.00 POLICE 3,542,365 3,554,365 1,659,914 1,894,451 47%
42200.00 FIRE 902,032 902,032 299,524 602,507 33%
42400.00 BUILDING INSPECTION 595,843 595,843 262,846 332,997 44%
42500.00 EMERGENCY MANAGEMENT 9,750 9,750 781 8,969 8%
42700.00 ANIMAL CONTROL 26,448 26,448 12,800 13,648 48%
Total ‐ Function Public Safety 5,076,437 5,088,437 2,235,866 2,852,571 44%
Function: Public Works
43050.00 ENGINEERING 387,626 387,626 158,109 229,517 41%
43100.00 STREET 1,385,392 1,406,392 359,880 1,046,512 26%
43400.00 CENTRAL GARAGE 380,369 380,369 150,986 229,383 40%
Total ‐ Function Public Works 2,153,387 2,174,387 668,975 1,505,412 31%
Function: Culture and Recreation
45100.00 RECREATION 406,218 406,218 154,813 251,405 38%
45200.00 PARKS 1,433,838 1,463,838 478,914 984,924 33%
45500.00 LIBRARIES 46,289 46,289 18,770 27,519 41%
46100.00 NATURAL RESOURCES ‐ ‐ ‐ ‐ n/a
Total ‐ Function Culture and Recreation 1,886,346 1,916,346 652,498 1,263,848 34%
00000.00 Transfer to Other Funds 1,084,719 1,084,719 84,684 1,000,035 8%
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE ‐ ‐ ‐ ‐ n/a
Total ‐ Function Contingent Reserve ‐ ‐ ‐ ‐ n/a
Total Expenditures 12,945,738 13,008,738 4,946,789 8,061,948 38%
City of Prior Lake
Debt Service Funds
As of 6/30/2016
(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 1,204,660 (1,136,190) 51%
Special Assessments
City Assess. Collections ‐ ‐ 90,599 90,599 n/a
County Assess. Collection 762,607 762,607 219,157 (543,450) 29%
Interest (losses) on investments
Interest Earnings 24,245 24,245 19,647 (4,598) 81%
Unrealized Inv.Gain(Loss)‐ ‐ 15,629 15,629 n/a
Miscellaneous Revenues
Miscellaneous Revenues ‐ ‐ (70) (70) n/a
Other Financing Sources
Transfer from Other Funds 1,697,997 1,697,997 504,659 (1,193,338) 30%
Bond Proceeds ‐ ‐ 1,656,086 1,656,086 n/a
Bond Discount/Premium ‐ ‐ ‐ ‐ n/a
Total Revenues 4,825,699 4,825,699 3,710,367 (1,115,332) 77%
Expenditures
Debt Service
Principal 3,792,365 3,792,365 263,683 3,528,683 7%
Interest and Other 1,317,807 1,317,807 550,224 767,583 42%
Other Debt Service Exp ‐ ‐ 990 (990) n/a
Transfers to Other Funds ‐ ‐ ‐ ‐ n/a
Bond Issuance Costs ‐ ‐ 44,155 (44,155) n/a
Bond Discount/Premium ‐ ‐ (70,270) 70,270 n/a
Total Expenditures 5,110,172 5,110,172 788,781 4,321,391 15%
Net Change (284,473) (284,473) 2,921,586
City of Prior Lake
Cable Fund
As of 6/30/2016
(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 ‐ 100%
Total Revenues 5,133 5,133 5,133 ‐ 100%
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) 5,133
City of Prior Lake
Capital Park Fund
As of 6/30/2016
(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 11,950 (11,450) 51%
225‐45200.00‐34791.00 Dedication Fees 567,000 567,000 450,000 (117,000) 79%
Charges for Services 590,400 590,400 461,950 (128,450) 78%
Interest (losses) on investments
225‐00000.00‐36210.00 Interest Earnings 7,000 7,000 5,130 (1,870) 73%
225‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 4,882 4,882 n/a
Interest (losses) on investments 7,000 7,000 10,013 3,013 143%
Contributions and donations
225‐00000.00‐36230.00 Contributions & Donations ‐ ‐ 3,880 3,880 n/a
Contributions and donations ‐ ‐ 3,880 3,880 n/a
Total Revenues 597,400 597,400 475,843 (121,557) 80%
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 ‐ ‐ 3,699 (3,699) n/a
55530.00 Infrastructure 170,000 170,000 318,455 (148,455) 187%
Total Expenditures 340,000 170,000 325,866 (155,866) 192%
Net Change 257,400 427,400 149,977
City of Prior Lake
Revolving Equipment Fund
As of 6/30/2016
(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 325,000 325,000 169,425 (155,575) 52%
Taxes 325,000 325,000 169,425 (155,575) 52%
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 5,855 (9,212) 39%
410‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 7,714 7,714 n/a
Interest (losses) on investments 15,067 15,067 13,569 (1,498) 90%
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 70,500 (70,500) 50%
Transfers in 141,000 141,000 70,500 (70,500) 50%
Debt Issued
410‐00000.00‐39310.00 G.O. Bond Proceeds 400,000 400,000 410,000 10,000 103%
Debt Issued 400,000 400,000 410,000 10,000 103%
Total Revenues 905,067 905,067 663,494 (241,573) 73%
Expenditures
Public Safety
Police
410‐42100.00‐55550.00 Vehicles 98,116 98,116 92,186 5,930 94%
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 92,627 108,489 46%
Public Works
Street
410‐43100.00‐55070.00 Projects ‐ Bond Issuance Costs ‐ ‐ 11,039 (11,039) n/a
410‐43100.00‐55110.00 Projects ‐ Bond Discount/Premium ‐ ‐ (16,305) 16,305 n/a
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 20,000 365 19,636 2%
Total Public Works 455,690 455,690 36,323 419,367 8%
Culture and Recreation
410‐45200.00‐55530.00 Infrastructure ‐ ‐ ‐ ‐ n/a
410‐45200.00‐55550.00 Vehicles 279,645 279,645 52,813 226,832 19%
410‐45200.00‐55570.00 Machinery and Equipment 264,504 264,504 227,956 36,548 86%
Total Culture & Recreation 544,149 544,149 280,769 263,380 52%
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
Transfers
Transfers to Other Funds ‐ ‐ 4,533 (4,533) n/a
Total Utility ‐ ‐ ‐ ‐ n/a
Total Expenditures 1,200,955 1,200,955 414,251 786,704 34%
Net Change (295,888) (295,888) 249,243
City of Prior Lake
Facilities Management Fund
As of 6/30/2016
(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 5,215 (2,814) 65%
440‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 5,384 5,384 n/a
Interest (losses) on investments 8,029 8,029 10,599 2,570 132%
Transfers in
440‐00000.00‐39203.00 Transfer from Other Funds 55,000 55,000 27,500 (27,500) 50%
Transfers in 55,000 55,000 27,500 (27,500) 50%
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 38,099 (644,930) 6%
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 45,614 45,614 22,807 22,807 50%
41910.00 COMMUNITY DEVELOPMENT ‐ ‐ ‐ ‐ n/a
41960.00 GESP ‐ ‐ 101,294 (101,294) n/a
Total ‐ Function General Government 45,614 45,614 124,101 (78,487) 272%
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 746,406 746,406 124,101 622,305 17%
Net Change (63,377) (63,377) (86,002)
City of Prior Lake
Water Fund
As of 6/30/2016
(Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
6/30/2015 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 20,424 (39,576) 34% 27,628 (7,204)
601‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 22,410 22,410 n/a 17,351 5,060
Interest (losses) on investments 60,000 60,000 42,834 (17,166) 71% 44,979 (2,145)
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 ‐ ‐ 400 400 n/a 410 (10)
601‐00000.00‐36102.00 County Assess Collection ‐ ‐ 581 581 n/a ‐ 581
601‐49400.00‐37190.00 Miscellaneous Revenue Adj ‐ ‐ 23 23 n/a 29 (6)
601‐00000.00‐37901.00 Contribution (Other Fund)‐ ‐ ‐ ‐ n/a ‐ ‐
601‐00000.00‐37902.00 Contribution (Developers)‐ ‐ ‐ ‐ n/a ‐ ‐
Miscellaneous Revenues ‐ ‐ 1,004 1,004 n/a 439 565
Water Charges
601‐49400.00‐37100.00 Utility Receipts ‐ Water 3,363,646 3,363,646 1,167,844 (2,195,803) 35% 1,096,491 71,353
601‐49400.00‐37160.00 Penalties 7,000 7,000 6,906 (94) 99% 5,950 956
Water Charges 3,370,646 3,370,646 1,174,749 (2,195,897) 35% 1,102,441 72,308
Capital Facility charges
601‐49400.00‐37110.00 Capital Facility Revenue 254,340 254,340 128,120 (126,220) 50% 126,085 2,036
Capital Facility charges 254,340 254,340 128,120 (126,220) 50% 126,085 2,036
Meter Sales
601‐49400.00‐37170.00 Water Meter Sales 104,150 104,150 35,558 (68,592) 34% 41,242 (5,684)
601‐49400.00‐37175.00 Pressure Reducers 35,400 35,400 11,350 (24,050) 32% 11,353 (3)
601‐49400.00‐37180.00 Frost Plates ‐ ‐ 8 8 n/a 21 (14)
Meter Sales 139,550 139,550 46,916 (92,634) 34% 52,616 (5,701)
Total Revenues 4,774,536 4,774,536 1,393,624 (3,380,912) 29% 1,326,560 67,064
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 828,464 828,464 1,113,963 (285,499) 134% 1,364,280 250,317
41520.00 FINANCE 87,683 87,683 42,025 45,658 48% 37,215 (4,810)
Total ‐ Function General Government 916,147 916,147 1,155,988 (239,841) 126% 1,401,495 245,508
Function: Water
49400.00 WATER 4,179,428 4,179,428 730,122 3,449,306 17% 874,176 144,054
Total ‐ Function Water 4,179,428 4,179,428 730,122 3,449,306 17% 874,176 144,054
Total Expenditures 5,095,575 5,095,575 1,886,109 3,209,465 37% 2,275,671 389,562
Net Change (321,039) (321,038) (492,486) (949,112)
City of Prior Lake
Sewer Fund
As of 6/30/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
6/30/2015 Positive (Negative)
Revenues
Interest (losses) on investments
604‐00000.00‐36210.00 Interest Earnings 40,000 40,000 11,005 (28,995) 28% 15,823 (4,818)
604‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 12,225 12,225 n/a 11,644 581
Interest (losses) on investments 40,000 40,000 23,229 (16,771) 58% 27,467 (4,238)
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 1,207,960 588,531 (619,429) 49% 496,781 91,751
604‐49450.00‐37104.00 Utility Recpt‐Sewer MCES 1,327,560 1,327,560 554,232 (773,328) 42% 528,388 25,844
Sewer Charges 2,535,520 2,535,520 1,142,763 (1,392,757) 45% 1,025,169 117,595
Capital Facility charges
604‐49450.00‐37110.00 Capital Facility Revenue 254,970 254,970 128,125 (126,845) 50% 126,089 2,036
Capital Facility charges 254,970 254,970 128,125 (126,845) 50% 126,089 2,036
Water Charges
604‐49450.00‐37160.00 Penalties 7,000 7,000 6,755 (245) 96% 5,163 1,591
Water Charges 7,000 7,000 6,755 (245) 96% 5,163 1,591
Total Revenues 2,837,490 2,837,490 1,300,873 (1,536,617) 46% 1,183,888 116,985
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 251,320 251,320 490,115 (238,795) 195% 1,198,004 707,889
41520.00 FINANCE 87,683 87,683 41,996 45,687 48% 37,182 (4,813)
Total ‐ Function General Government 339,003 339,003 532,111 (193,108) 157% 1,235,187 703,076
Function: Sewer
49450.00 SEWER 2,593,298 2,593,298 1,091,552 1,501,746 42% 1,041,765 (49,788)
Total ‐ Function Sewer 2,593,298 2,593,298 1,091,552 1,501,746 42% 1,041,765 (49,788)
Total Expenditures 2,932,301 2,932,301 1,623,663 1,308,638 55% 2,276,951 653,288
Net Change (94,811) (94,811) (322,791) (1,093,064)
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 6/30/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
6/30/2015 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 6,212 (3,788) 62% 4,579 1,633
602‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 6,275 6,275 n/a 2,690 3,585
Interest (losses) on investments 10,000 10,000 12,488 2,488 125% 7,269 5,219
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 838,537 838,537 444,263 (394,274) 53% 438,172 6,092
Storm Water Charges 838,537 838,537 444,263 (394,274) 53% 438,172 6,092
Water Charges
602‐49420.00‐37160.00 Penalties ‐ ‐ 1,584 1,584 n/a 1,482 102
Water Charges ‐ ‐ 1,584 1,584 n/a 1,482 102
Total Revenues 883,327 883,327 458,335 (424,992) 52% 446,922 11,413
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 21,000 21,000 67,268 (46,268) 320% 271,269 204,001
Total ‐ Function General Government 21,000 21,000 67,268 (46,268) 320% 271,269 204,001
Function: Water Quality
49420.00 WATER QUALITY 942,553 942,553 173,818 768,735 18% 221,282 47,464
Total ‐ Function Water Quality 942,553 942,553 173,818 768,735 18% 221,282 47,464
Total Expenditures 963,553 963,553 241,086 722,467 25% 492,551 251,465
Net Change (80,226) (80,226) 217,249 (45,629)
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 6/30/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget ‐ % BDGT Actual from 2015
Budget Amended Actual Positive (Negative) USED
6/30/2015 Positive (Negative)
Revenues
Taxes
240‐00000.00‐31010.00 Current Property Taxes 155,000 155,000 79,841 (75,159) 52% 82,085 (2,244)
240‐00000.00‐33423.00 Market Value Credit Aid ‐ ‐ ‐ ‐ n/a ‐ ‐
Taxes 155,000 155,000 79,841 (75,159) 52% 82,085 (2,244)
Intergovernmental
240‐46500.00‐33610.14 County‐City Aids/Grants ‐ Operat ‐ ‐ 7,278 7,278 n/a 11,976 (4,698)
Intergovernmental ‐ ‐ 7,278 7,278 n/a 11,976 (4,698)
Charges for Services
240‐00000.00‐34111.00 Administrative Charges ‐ ‐ ‐ ‐ n/a ‐ ‐
240‐46503.00‐34760.02 Facility Rental ‐ EDA 10,000 10,000 5,195 (4,805) 52% 3,627 1,568
Charges for Services 10,000 10,000 5,195 (4,805) 52% 3,627 1,568
Interest (losses) on investments
240‐00000.00‐36210.00 Interest Earnings 500 500 1,034 534 207% 1,285 (251)
240‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 1,094 1,094 n/a 677 417
Interest (losses) on investments 500 500 2,128 1,628 426% 1,961 (166)
Transfers in
240‐00000.00‐39203.00 Transfer from Other Funds ‐ ‐ ‐ ‐ n/a ‐ ‐
Transfers in ‐ ‐ ‐ ‐ n/a ‐ ‐
Total Revenues 165,500 165,500 94,441 (71,059) 57% 99,649 (5,208)
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 153,775 153,775 70,675 83,100 46% 68,362 (2,313)
46503.00 TECH VILLAGE INCUBATOR 27,650 27,650 3,291 24,359 12% 5,166 1,875
Total Expenditures 181,425 181,425 73,966 107,459 41% 73,527 (438)
Net Change (15,925) (15,925) 20,476 26,122
COMPARATIVE