HomeMy WebLinkAbout6B 2016 Preliminary Year-End Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: APRIL 24, 2017
AGENDA #: 6B
PREPARED BY: DON URAM, FINANCE DIRECTOR
PRESENTER: DON URAM
AGENDA ITEM: PRESENTATION OF THE PRELIMINARY YEAR-END 2016
FINANCIAL REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
December 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 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. Motion and second to accept the December 31, 2016 Financial
Report as submitted.
2. Take no action and provide the staff with specific direction.
RECOMMENDED
MOTION:
Alternative 1.
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MEMORANDUM
DATE: April 24, 2017
TO: Prior Lake City Council
FROM: Don Uram, Finance Director
RE: Financial Report dated 12/31/2016
This report provides a summary of 12/31/16 financial results for the City of Prior Lake.
Information is provided for the General Fund, Debt Service Funds, Capital Park Fund, Revolving
Equipment Fund, Facilities Management Fund, the Water, Sewer, and Storm Drainage Funds,
and the EDA. Some highlights for the year are summarized below.
General Fund Summary
Key points for 2016:
• Preliminary financial information reflects revenues exceeding expenditures by $560,169.
• General Fund Balance reserves are projected at $6.68M as of 12/31/2016 which is equal
to 51.1% reserve balance.
The 2016 original budget was approved as a balanced budget and did not anticipate the use of
fund balance reserves. The budget was subsequently amended to reflect a use of fund balance
reserves of $233k.
General Fund Revenues
Total revenues are $12,977,951 thru 12/31/16 or 101.6% of the annual amount budgeted. This
compares to $12,691,917 or 100.4% collected in 2015. Preliminary reports show that General
Fund actual revenues exceed the 2016 budget by approximately $202k. The following table
highlights the revenue categories that comprise the $202k favorable variance to budget:
Revenue Category Revenues to Budget
Favorable/(Unfavorable)
Property Taxes $13,700
Licenses and Permits 121,300
Intergovernmental 46,500
Charges for Services (including franchise taxes) 33,200
Interest (loss) on Investments (22,900)
Fines and Forfeitures 4,700
Miscellaneous Revenue 5,700
Estimated Total Revenues Exceeding Budget $ 202,200
Taxes
Property tax revenue totaled $8,271,185 or 63.7% of the total revenue received in 2016 which is
the same percentage of total revenue as 2015. Current tax collections were at 99.5% compared
to 99.3% in 2015. Delinquent collections totaled $68,478 which is about 41.7% higher than
2015.
Licenses and Permits
License and Permit revenue consists of building permit and fees and other permits. Building
permits and fees are the largest sources of revenue in this category with a budget of $535,855.
As of 12/31/16, $641,526 or 120% of the amount budgeted for building permits has been
collected. Building permit and fees are $155,926 higher than last year. The value of building
permits issued increased from $46.7 million in 2015 to $77.5 million in 2016. The increase in
both permit revenue and value is due to the construction of the Grainwoood and Courtwood
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Village apartments. The following chart shows building permit activity and average values for
years 2010 through 2016.
2010 2011 2012 2013 2014 2015 2016
Permits
Issued:
Single Family 94 80 122 149 118 112 108
Townhomes 0 26 52 39 8 10 4
MF Units 222
Commercial/
Industrial
2 0 2 5 5 10 4
Miscellaneous 1,528 1,778 2,115 2,099 1,935 2,063 1,904
Total Permits 1,624 1,884 2,291 2,292 2,066 2,195 2,022
Average
Value:
Single Family $267,298 $282,400 $347,000 $344,000 $317,000 $331,000 $344,000
Townhomes $ 0 $142,615 $174,000 $187,000 $138,000 $183,000 $169,000
MF Units $129,000
Commercial/
Industrial
$280,000 $ 0 $547,000 $186,000 $17,000 $374,000 $1,405,000
Intergovernmental Revenue
Intergovernmental revenue for 2016 totaled $1,581,753 which is $7,889 more than 2015.
Amounts received for Police Pension Aid and Fire Relief Association Aid are comparable to
2015. The SMSC increased their contribution from $420,000 in 2015 to $430,000 in 2016. The
Municipal State Aid (MSA) for road maintenance was about $8,000 higher than budget.
In 2016, the Metropolitan Council awarded the City a $32,000 Local Planning Assistance grant
to help offset the City’s cost of preparing the Comprehensive Plan update. Terms of the grant
included the payment of $16,000 at the start of the project and the remainder once the plan was
completed.
Charges for Services
Charges for Services revenue for 2016 are $93,971 or 6% higher than 2015 due mainly to 1)
Unbudgeted items of Parks Facility Rental and a Building Inspector Deposit. The first is a
reimbursement from PLAY for the storage building the City constructed in Ponds Park. The
second is a fee that homeowners/builders pay to have the City inspect new retaining wall, and
2) Franchise fees are $10k higher than 2015.
Project engineering fees are $163k less than budget. This is due to less construction activity
taking place than what was budgeted for. 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.
Recreation revenues (including Park admission fees and facility rental) are $15k higher than
budget, primarily for program fees.
Other Revenue
Interest earnings are $33k under budget. As the market continues to remain at historically low
rates, the return on the City’s portfolio decreased. The report also reflects a $10k increase in
the fair value of the securities. As rates decreased, the market value of the higher yielding
securities has increased. This is a paper gain; no actual gain is realized because the City holds
the securities until maturity.
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Miscellaneous revenues were above budget by $5.7k. This is primarily due to increase in
developer agreement revenue (21k) and contributions/donations (26k) and offset by change in
accounting for the League of MN Cities insurance dividend received. The LMC insurance
dividend has historically been deposited into this category in the General Fund, however, in
2016 the City established a new Insurance Fund. The 2016 dividend check of $84k was
deposited in the new Insurance Fund. Miscellaneous revenues also includes are false alarm
fees, investigation fees for licenses, contributions and donations, developer agreements, etc.
General Fund Expenditures
General Fund expenditures of $12,417,782 equal 95% of the amended budget amounts.
General categories vary in how they are impacted from employee turnover, insurance, utilities,
fuel, equipment repairs, ability to complete capital projects etc.
Many factors impact expenditures. Employee turnover and delays in filling open positions in
some of the departments including Police and Public Works has allowed for savings in those
areas. The savings is not only due to positions being open for an extended period but also,
when finally filled, the compensation package is typically lower for the new employee. Seasonal
positions also went unfilled in 2016.
Major areas within the 2016 budget that were under budget included Legal Services, Fuel, and
Street Maintenance. Transfers out was higher than budget due to the establishment of the
Police Forfeiture Fund. There were also several smaller items that are highlighted below.
The following table highlights the variances expected in personnel, current expenditures and
capital outlay:
Expenditure Category Estimated Expenditures
Compared to Budget*
Favorable/(Unfavorable)
Subtotals by
Category
Personnel:
Savings from Employee Turnover, Hiring Delays,
etc.
$134,000
Part-time/Seasonal Wages 59,000
Other Wages (Election Judges, Paid On-Call Fire) 18,500
Health Insurance Savings 37,000
Other Benefit Saving 25,000
Workers Comp Insurance 7,000
Overtime (117,000)
Other (5,500)
Total Personnel $ 158,000
Current Expenditures:
Maintenance Agreements - Street $146,700
Fuel 99,100
Legal / Prosecution Fees 52,600
Operating Supplies – Snow & Ice 32,000
Insurance P/C 17,300
Utilities – Electric and Gas 25,000
Software Service Contract 28,700
Utilities – Park Lighting (39,400)
Major Service Contract - Fleet (25,300)
Maintenance Agreements - Buildings (11,700)
Other 79,600
Total Current Expenditures $ 404,600
Capital Outlay Expenditures:
Park Improvements & Equipment $ 87,700
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Technology 15,900
Other (600)
Total Capital Outlay Expenditures $ 103,000
Other (Transfers Out) (74,600)
Total Expenditures $ 591,000
*positive = budget savings; negative = expenditure exceeds budget
General Fund Reserves
The 2016 budget was approved as a balanced budget. During the year, budget amendments
were approved that required the use of reserves primarily for projects carried forward from
2015. The revised planned use of reserves was $233,360.
Based on the preliminary yearend revenues of $12,977,971 and expenditures of $12,417,778,
the fund balance will increase by $560k. The fund balance reserve will be approximately 51.1%
of the 2017 expenditures.
In 2017, several budget amendments and additional expenditures have been approved by the
City Council which will reduce that reserve down to approximately 48%. Those items include
street and parks maintenance, Community Survey, Compensation Study, and the CR21/TH13
consultant. Staff will also be recommending in a separate report that $100,000 be added to the
Severance Fund which is currently funded at 35%.
Debt Service Funds
Property taxes and special assessments are received in June, December and January (final tax
settlement). Several prepayments have been received for special assessments. Interest
earnings are at 607% of budget due to funds held in escrow to refund the 2007A water
treatment plant bonds which will be redeemed in 2017. Bond proceeds are shown for the
2016A bond issuance (Manitou Road).
Scheduled bond payments were made in June and December.
Cable Fund
2016 activity included unbudgeted revenue from Integra and Mediacom cable franchise
companies of $45k. Every 3 years the City does a franchise fee audit for Mediacom and Integra
to ensure they are paying what they should based on customer accounts. We are upgrading
our video equipment in the Council Chambers so this unbudgeted revenue is going to be used
to fund the equipment upgrades.
Capital Park Fund
Park Dedication Fees of $652,500 were received for the Gateway and Courtwood Village
apartment projects. Interest earned during the year total $9,965, or 142% of budget.
There were two major projects completed in 2016 including Enclave Park and the Markley Lake
Trail. Work was also started on the Eaglebrook Park playground improvements.
Revolving Equipment Fund
Property taxes, the primary funding source, were received in June, December and January (final
tax settlement). Interest earned during the year total $11,334 or 75% of budget. Bond proceeds
of $410k are shown.
Equipment purchases totaled $1,016,459 which is slightly less than the budget of $1,200,955.
Facilities Management Fund
Revenue in this fund come primarily from Transfers In (Water and Storm Water), Interest, and
bond proceeds. Interest earned during the year totaled $9,939 or 123% of budget. No debt
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was issued in 2016. The 2016 debt issuance that was budgeted for the replacement of the
Maintenance Center roof has been carried forward to 2017.
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 2016, the improvements associated with this project are complete.
Water Fund
The financial report for the Water Fund reflects six billing cycles. Operating revenue totaled
$3,732,788 which is an increase of $269,892 or 7.8% from 2015. Water usage increased from
675.2 million gallons to 703.6 million gallons. Revenue increased due to an increase in the
rates and increased consumption. During 2016, rates were increased from $4.015 to $4.40 for
the base rate and from $5.72 to $6.06 for the rate above 25,000 gallons per billing cycle.
Total operating expenses were $1,808,733 which is 84.2% of the $2,149,075 budgeted and
$118,712 more than 2015. Chemicals, Water Meters, and Repair and Maintenance Supplies
were below budget in total by $271,000. Water purchases from the SMSC increased from
$254,299 in 2015 to $297,700 in 2016.
Capital expenses this year total $115,926 compared to $231,140 in 2015. Projects for 2016
included Well #7 reconditioning and CR #21 watermain rehabilitation.
Authorized expenditures for the 2016 Reconstruction, Welcome Avenue, and TH 13/150th Street
are reflected in the capital improvements. The status of the capital improvement costs is shown
below:
Water Improvement
Projects
CIP Ref Budget Actual Comments
Water Equipment Replacement CIP #14 $100,000 115,956 Well #7 and CR #21 watermain
Cartegraph Upgrade 18,035 0 Project Deferred
Total $118,035 $115,956
Infrastructure Projects CIP
Ref
Budget Actual Comments
Manitou Road CIP#10 $250,000 $578,167 Substantially Complete
Raspberry Ridge, etc. CIP#10 800,000 0 Project Deferred
Welcome Ave CIP#10 0 243,779 Final project funding
TH13/150th Street CIP#10 0 87,310 Final project funding
Source Water – Well #10 950,000 Project Deferred
Total $2,000,000 $909,256
Sewer Fund
The financial report for the Sewer Fund reflects six billing cycles. Operating revenue totaled
$2,824,696 which is an increase of $357,755 or 14.5% over 2015. Consumption increased from
520.8 million gallons to 532.6 million gallons. Sales increased due to the rate increase and due
to the increase in sewer use. During 2016, rates were increased from $2.02 to $2.52 for the City
and from $2.16 to $2.22 for the MCES.
Total operating expenses were $2,211,279, which is 95.9% of the $2,305,730 budgeted and
$149,426 more than 2015. Disposal charges are the largest expense totaling $1,323,005. The
monthly payment to the Metropolitan Council Environmental Services is $110,250 which is a
7.7% increase over from last year.
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Authorized expenditures for 2016 Street Reconstruction projects are reflected in the capital
improvements. The status of the capital improvement costs is shown below:
Sewer Improvement Projects CIP
Ref
Budget Actual Comments
Sewer System Equipment
Replacement
CIP
#19
$57,216 $0 Flat amount for rehab or
replacement of Lift Station
equipment. Not tied to specific
projects.
Cartegraph Upgrade 18,035 0 Project Deferred
Total $75,251 $0
Street Reconstruction Projects CIP
Ref
Budget Actual Comments
Manitou Road CIP#10 $150,000 $364,455 Substantially Complete
Raspberry Ridge, etc. CIP#10 150,000 0 Project Deferred
Total $300,000 $364,455
Storm Water Fund
The financial report for the Water Quality Fund reflects six billing cycles. Storm water revenue
totaled $921,418 which is an increase of $3,806 or .41% over 2015. This is due primarily to a
rate increase from $11.25 to $13.2 resulting in 23k of additional revenue as compared to 2015.
2015 included operating grants of $24k. The City did not have any grant-related projects in
2016. Storm Water revenues are based on flat rates per billing cycle.
Total operating expenses were $474,927 which is 85.2% of the $557,553 budgeted and
$26,025 less than 2015.
The status of the capital improvement costs is shown below:
Storm Sewer
Improvement Projects
CIP Ref Budget Actual Comments
Stormwater Infrastructure
Maintenance
CIP #20 $110,000 $7,376 None for 2016
Total $110,000 $0
Street Reconstruction Projects CIP Ref Budget Actual Comments
Manitou Road CIP #10 $50,000 $56,768 Substantially Complete
Raspberry Ridge, etc. CIP #10 50,000 0 Project Deferred
Rolling Oaks CIP #10 100,000 Project Deferred
Cates Creek CIP #10 75,000 $0 2017 Project
Total $275,000 $56,768
Economic Development Authority Special Revenue Fund
Funding for the EDA comes primarily from property taxes (94%) and facility rental payments
from the Technology Village Business Incubator.
Revenues of $170,584 exceeded expenditures of $151,167 by $19,417. Personnel,
commissioner per diems, professional services and Technology Village Business Incubator
expenditures comprise the majority of the expenditures.
City of Prior Lake
General Fund Summary
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Taxes 8,257,512 8,257,512 8,271,185 13,673 100%8,087,427 183,757
Licenses and Permits 630,495 630,495 751,823 121,328 119%587,464 164,360
Intergovernmental 1,535,235 1,535,235 1,581,753 46,518 103%1,573,864 7,889
Charges for Services 1,714,306 1,714,306 1,747,532 33,226 102%1,653,562 93,971
Fines and Forfeitures - - 4,743 4,743 n/a 1,390 3,353
Interest (losses) on investments 120,000 120,000 97,036 (22,964) 81%114,970 (17,934)
Other 155,550 155,550 161,238 5,688 104%317,720 (156,482)
Transfers in 532,640 362,640 362,640 - 100%355,520 7,120
Total Revenues 12,945,738 12,775,738 12,977,951 202,213 102%12,691,917 286,034
Expenditures
General Government 2,744,849 2,744,849 2,611,138 133,711 95%2,656,338 45,200
Public Safety 5,076,438 5,088,438 5,035,154 53,283 99%4,821,151 (214,003)
Public Works 2,153,387 2,174,387 1,875,531 298,856 86%2,078,314 202,784
Culture and Recreation 1,886,346 1,916,346 1,736,734 179,612 91%1,745,554 8,820
Transfer to other funds 1,084,719 1,084,719 1,159,226 (74,507) 107%1,036,243 (122,983)
Contingent Reserve - - - - n/a 6,213 6,213
Total Expenditures 12,945,738 13,008,738 12,417,782 590,956 95%12,343,813 (73,969)
Net Change - (233,000) 560,169 348,104
City of Prior Lake
General Fund Revenues
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive ( Negative)USED 12/31/2015 Positive (Negative)
Taxes
101 31010.00 Current Property Taxes - General Purpos 7,482,395 7,482,395 7,443,665 (38,730) 99%7,368,685 74,981
101 31040.00 Delinquent Property Taxes - General Purp - - 68,478 68,478 n/a 48,336 20,143
101 31040.00 Fiscal Disparities 775,117 775,117 758,247 (16,870) 98%669,445 88,803
101 33423.00 Market Value Credit Aid - - 793 793 n/a 962 (169)
Taxes 8,257,512 8,257,512 8,271,185 13,673 100%8,087,427 183,757
Licenses and Permits
101 32100.00 Business Licenses 1,100 1,100 900 (200) 82%1,200 (300)
101 32110.00 Liquor Licenses 69,990 69,990 77,115 7,125 110%69,070 8,045
101 32160.00 Refuse Haulers 3,650 3,650 3,450 (200) 95%3,650 (200)
101 32170.00 Outdoor Concert Permits 1,150 1,150 3,150 2,000 274%1,450 1,700
101 32180.00 Cigarette Licenses 2,250 2,250 2,750 500 122%2,500 250
101 32210.00 Building Permits 471,800 471,800 536,650 64,850 114%392,194 144,455
101 32211.00 Retainage Forfeiture - - 6,332 6,332 n/a 6,083 249
101 32215.00 Mechanical Permits 32,770 32,770 52,889 20,119 161%51,535 1,355
101 32230.00 Plumbing Permits 31,285 31,285 51,988 20,703 166%41,871 10,117
101 32231.00 Sewer/Water Inspection 7,725 7,725 7,415 (310) 96%7,671 (256)
101 32232.00 Plumbing Registrations 1,200 1,200 675 (525) 56%1,175 (500)
101 32240.00 Animal Licenses 3,750 3,750 3,635 (115) 97%3,615 20
101 32260.00 Burning Permits 2,625 2,625 2,675 50 102%2,850 (175)
101 32270.00 Short-term Rental Fee 1,200 1,200 2,200 1,000 183%2,600 (400)
Licenses and Permits 630,495 630,495 751,823 121,328 119%587,464 164,360
Intergovernmental
101 33160.10 Fed Aids/Grants - Operating Grants - - (2,197) (2,197) n/a 4,529 (6,725)
101 33160.11 Fed Aids/Grants - Operating Police 18,000 18,000 19,342 1,342 107%15,277 4,065
101 33401.00 Local Government Aid 15,180 15,180 11,905 (3,275) 78%11,905 -
101 33416.01 State Aid - Police Train 7,800 7,800 6,253 (1,547) 80%8,830 (2,577)
101 33416.02 State Police Aid-Ins Prem 175,000 175,000 188,115 13,115 107%189,421 (1,305)
101 33417.00 State Aid - Fire Training 7,000 7,000 8,910 1,910 127%5,854 3,056
101 33418.00 State Road & Bridge Aid 316,827 316,827 325,213 8,386 103%316,827 8,386
101 33420.00 State Fire Aid-Ins. Prem.206,000 206,000 214,891 8,891 104%208,087 6,804
101 33422.10 State Aids/Grants - Operating Grants - - - - n/a 6,654 (6,654)
102 33422.11 State Aids/Grants - Operating Police - - 5,122 5,122 n/a 11,675 (6,553)
101 33620.00 Township Fire & Resc Aid 311,068 311,068 311,068 - 100%279,094 31,974
101 33621.00 Liaison Aid 45,860 45,860 47,130 1,270 103%23,565 23,565
100 33630.00 Metro Council Grants 12,500 12,500 16,000 3,500 128%- 16,000
101 33631.00 Payment in Lieu of Taxes 420,000 420,000 430,000 10,000 102%420,000 10,000
101 33700.23 Miscellaneous Grants - Capital Parks - - - - n/a 72,147 (72,147)
Intergovernmental 1,535,235 1,535,235 1,581,753 46,518 103%1,573,864 7,889
Charges for Services
101 31810.00 Franchise Taxes 595,000 595,000 615,028 20,028 103%604,997 10,031
101 34103.00 Zoning & Subdivision Fees 17,050 17,050 28,529 11,479 167%26,626 1,903
101 34104.00 Plan Check Fees 253,396 253,396 310,435 57,039 123%233,752 76,683
101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 984 (16) 98%2,196 (1,212)
101 34107.00 Assessment Searches - Reports 400 400 560 160 140%570 (10)
101 34109.00 Project Admin/Eng Fees 343,000 343,000 179,912 (163,088) 52%273,943 (94,030)
101 34203.00 Accident/Warrant Reports - Reports 780 780 118 (662) 15%80 38
101 34304.00 PEG Access Fees 34,000 34,000 32,227 (1,773) 95%32,952 (725)
101 34731.00 Softball Fees 25,000 25,000 13,152 (11,848) 53%22,619 (9,467)
101 34735.00 Recreation Program Fees 40,000 40,000 50,310 10,310 126%44,591 5,719
101 34740.00 Concessions - Park Fees 750 750 72 (678) 10%- 72
101 34760.01 Facility Rental - Regular 73,361 73,361 119,722 46,361 163%72,757 46,965
101 34761.00 Studio/Pavilion Rental 15,000 15,000 18,181 3,181 121%15,844 2,337
101 34762.00 Park Shelter Rental 14,000 14,000 18,483 4,483 132%14,008 4,474
101 34765.01 Tower Leases 243,069 243,069 246,883 3,814 102%243,499 3,384
101 34780.00 Park Admission Fees 15,000 15,000 23,594 8,594 157%17,964 5,630
101 34783.00 City Contract Services 43,500 43,500 56,415 12,915 130%47,163 9,252
101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - 32,927 32,927 n/a - 32,927
Charges for Services 1,714,306 1,714,306 1,747,532 33,226 102%1,653,562 93,971
Fines and Forfeitures
101 35101.00 County Court Fines - - 500 500 n/a 1,350 (850)
101 35104.00 Prosecution Restitution - - 4,243 4,243 n/a 40 4,203
Fines and Forfeitures - - 4,743 4,743 n/a 1,390 3,353
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive ( Negative)USED 12/31/2015 Positive (Negative)
COMPARATIVE
Interest (losses) on investments
101 36210.00 Interest Earnings 120,000 120,000 87,195 (32,805) 73%100,920 (13,725)
101 36225.00 Unrealized Inv.Gain(Loss)- - 9,841 9,841 n/a 14,050 (4,209)
Interest (losses) on investments 120,000 120,000 97,036 (22,964) 81%114,970 (17,934)
Other Miscellaneous Revenues
101 36102.00 County Assess. Collection 5,000 5,000 9,363 4,363 187%366 8,997
101 36211.00 Developer Agreements 55,000 55,000 76,261 21,261 139%59,867 16,394
101 36212.00 Miscellaneous Revenue 95,550 95,550 39,436 (56,114) 41%238,492 (199,055)
101 36230.00 Contributions & Donations - - 26,049 26,049 n/a 11,866 14,184
101 39102.00 Sale of Property - - 10,129 10,129 n/a 7,130 2,999
Other Miscellaneous Revenues 155,550 155,550 161,238 5,688 104%317,720 (156,482)
Other financing sources
101 39203.00 Transfer from Other Funds 532,640 362,640 362,640 - 100%355,520 7,120
Transfers in 532,640 362,640 362,640 - 100%355,520 7,120
Total Revenues 12,945,738 12,775,738 12,977,951 202,213 102%12,691,917 286,034
City of Prior Lake
General Fund Expenditures
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Function: General Government
41110.00 MAYOR & COUNCIL 55,409 55,409 57,181 (1,772) 103%58,531 1,350
41130.00 ORDINANCE 7,500 7,500 7,329 171 98%6,952 (377)
41320.00 ADMINISTRATION 404,081 404,081 416,488 (12,407) 103%375,542 (40,946)
41330.00 BOARDS & COMMISSIONS 10,539 10,539 10,370 169 98%10,137 (234)
41410.00 ELECTIONS 29,640 29,640 16,982 12,658 57%84,724 67,742
41520.00 FINANCE 444,977 444,977 428,723 16,254 96%410,912 (17,812)
41530.00 ACCOUNTING - - 249 (249) n/a 368 119
41540.00 INTERNAL AUDITING 28,150 28,150 31,733 (3,583) 113%30,748 (985)
41550.00 ASSESSING 169,750 169,750 169,608 142 100%152,155 (17,453)
41610.00 LEGAL 200,000 200,000 147,402 52,598 74%233,507 86,105
41820.00 HUMAN RESOURCES 154,831 154,831 152,009 2,822 98%88,934 (63,075)
41830.00 COMMUNICATIONS 114,393 114,393 106,368 8,025 93%88,444 (17,924)
41910.00 COMMUNITY DEVELOPMENT 337,359 337,359 323,725 13,634 96%294,664 (29,061)
41920.00 INFORMATION TECHNOLOGY 336,161 336,161 306,791 29,370 91%321,238 14,448
41940.00 FACILITIES - CITY HALL 452,059 452,059 436,180 15,879 96%499,483 63,303
Total - Function General Government 2,744,849 2,744,849 2,611,138 133,711 95%2,656,338 45,200
Function: Public Safety
42100.00 POLICE 3,542,365 3,554,365 3,520,535 33,831 99%3,351,785 (168,750)
42200.00 FIRE 902,032 902,032 895,150 6,882 99%880,919 (14,230)
42400.00 BUILDING INSPECTION 595,843 595,843 583,831 12,012 98%553,671 (30,160)
42500.00 EMERGENCY MANAGEMENT 9,750 9,750 9,639 111 99%9,577 (62)
42700.00 ANIMAL CONTROL 26,448 26,448 26,000 448 98%25,200 (800)
Total - Function Public Safety 5,076,438 5,088,438 5,035,154 53,283 99%4,821,151 (214,003)
Function: Public Works
43050.00 ENGINEERING 387,626 387,626 340,644 46,982 88%361,664 21,021
43100.00 STREET 1,385,392 1,406,392 1,173,602 232,790 83%1,384,196 210,594
43400.00 CENTRAL GARAGE 380,369 380,369 361,285 19,084 95%332,455 (28,831)
Total - Function Public Works 2,153,387 2,174,387 1,875,531 298,856 86%2,078,314 202,784
Function: Culture and Recreation
45100.00 RECREATION 406,218 406,218 384,720 21,499 95%346,413 (38,307)
45200.00 PARKS 1,433,838 1,463,838 1,310,574 153,264 90%1,337,733 27,159
45500.00 LIBRARIES 46,289 46,289 41,291 4,998 89%61,437 20,146
46100.00 NATURAL RESOURCES - - 149 (149) n/a (29) (178)
Total - Function Culture and Recreation 1,886,346 1,916,346 1,736,734 179,612 91%1,745,554 8,820
00000.00 Transfer to Other Funds 1,084,719 1,084,719 1,159,226 (74,507) 107%1,036,243 (122,983)
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE - - - - n/a 6,213 6,213
Total - Function Contingent Reserve - - - - n/a 6,213 6,213
Total Expenditures 12,945,738 13,008,738 12,417,782 590,956 95%12,343,813 (73,969)
COMPARATIVE
City of Prior Lake
Debt Service Funds
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Property Taxes
Current Property Taxes 2,340,850 2,340,850 2,350,538 9,688 100%1,876,205 474,333
Special Assessments
City Assess. Collections - - 403,480 403,480 n/a 787,117 (383,637)
County Assess. Collection 762,607 762,607 429,281 (333,326) 56%350,700 78,580
Interest (losses) on investments
Interest Earnings 24,245 24,245 147,178 122,933 607%157,892 (10,714)
Unrealized Inv.Gain(Loss)- - (41,639) (41,639) n/a (120,906) 79,267
Miscellaneous Revenues
Miscellaneous Revenues - - 4,053 4,053 n/a 67,119 63,066
Other Financing Sources
Transfer from Other Funds 1,697,997 1,697,997 1,946,309 248,312 115%1,794,298 152,011
Bond Proceeds - - 1,656,086 1,656,086 n/a 5,529,906 (3,873,820)
Total Revenues 4,825,699 4,825,699 6,895,284 2,069,585 143%10,442,331 (3,420,914)
Expenditures
Debt Service
Principal 3,792,365 3,792,365 3,792,365 - 100%3,203,474 (588,891)
Interest and Other 1,317,807 1,317,807 1,325,250 (7,443) 101%1,273,976 (51,274)
Bond Issuance Costs - - - - n/a 92,463 92,463
Bond Discount/Premium - - (70,270) 70,270 n/a (143,647) (73,377)
Total Expenditures 5,110,172 5,110,172 5,047,345 62,827 99%4,426,266 (621,079)
Net Change (284,473) (284,473) 1,847,940 6,016,065
COMPARATIVE
City of Prior Lake
Cable Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Franchise Taxes
210-41340.00.31810.00 Franchise Taxes - - 44,754 44,754 n/a - 44,754
Charges for Services
210-41340.00-34304.00 PEG Access Fees 5,133 5,133 6,296 1,163 123%5,133 1,163
Total Revenues 5,133 5,133 51,050 45,917 995%5,133 45,917
Expenditures
Current Expenditures
210-41340.00-52400.20 Small Equipment - Technology - - 5,248 (5,248) n/a - 5,248
Capital Outlay
210-41340.00-55530.00 Infrastructure 6,360 6,360 - 6,360 0%4,540 (4,540)
Total Expenditures 6,360 6,360 5,248 1,112 83%4,540 708
Net Change (1,227) (1,227) 45,802 593
COMPARATIVE
City of Prior Lake
Capital Park Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental - Regular 23,400 23,400 23,950 550 102%23,400 550
225-45200.00-34791.00 Dedication Fees 567,000 567,000 790,150 223,150 139%100,310 689,840
Charges for Services 590,400 590,400 814,100 223,700 138%123,710 690,390
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 7,000 7,000 9,965 2,965 142%11,961 (1,996)
225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (1,921) (1,921) n/a 2,143 (4,065)
Interest (losses) on investments 7,000 7,000 8,044 1,044 115%14,105 (6,060)
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 6,610 6,610 n/a 1,555 5,055
Contributions and donations - - 6,610 6,610 n/a 1,555 5,055
Total Revenues 597,400 597,400 828,754 231,354 139%139,370 689,385
Expenditures
54320.00 Miscellaneous - - 3,712 (3,712) n/a 3,346 (367)
59203.00 Transfers to Other Funds 170,000 - - - n/a 62,356 62,356
53100.80 Professional Services-General - - 9,147 (9,147) n/a 80,751 71,605
55530.00 Infrastructure 170,000 170,000 483,399 (313,399) 284%229,647 (253,753)
Total Expenditures 340,000 170,000 496,258 (326,258) 292%376,099 (119,792)
Net Change 257,400 427,400 332,496 (236,730)
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 325,000 325,000 326,039 1,039 100%250,033 76,006
Taxes 325,000 325,000 326,039 1,039 100%250,033 76,006
Interest (losses) on investments
410-00000.00-36210.00 Interest Earnings 15,067 15,067 11,334 (3,733) 75%16,441 (5,107)
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 703 703 n/a 4,950 (4,248)
Interest (losses) on investments 15,067 15,067 12,037 (3,030) 80%21,391 (9,354)
Sale of assets
410-00000.00-39102.00 Sale of Property 24,000 24,000 - (24,000) 0%6,240 (6,240)
Sale of assets 24,000 24,000 - (24,000) 0%6,240 (6,240)
Other
410-42100.06-39104.00 Forfeiture Property Sales - - - - n/a 101,097 (101,097)
Other - - - - n/a 101,097 (101,097)
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 141,000 141,000 141,000 - 100%141,000 -
Transfers in 141,000 141,000 141,000 - 100%141,000 -
OTHER FINANCING SOURCES
Debt Issued
410-00000.00-39310.00 G.O. Bond Proceeds 400,000 400,000 410,000 10,000 103%- 410,000
Premium on debt issued
410-43100.00-55110.00 Projects - Bond Discount/Premium - - 16,305 16,305 n/a - 16,305
400,000 400,000 426,305 26,305 107%- 426,305
Total Revenues 905,067 905,067 905,381 314 100%519,762 385,619
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 98,116 98,116 92,186 5,930 94%94,932 2,746
410-42100.06-54350.00 Agency Forfeit Proceeds - - - - n/a 70,422 70,422
Fire
410-42200.00-55550.00 Vehicles 103,000 103,000 441 102,559 0%96,196 95,755
410-42200.00-55570.00 Machinery & Equipment - - - - n/a 11,002 11,002
Total Public Safety 201,116 201,116 92,627 108,489 46%272,552 168,923
Public Works
Street
410-43100.00-55550.00 Vehicles 435,690 435,690 424,121 11,569 97%423,244 (877)
410-43100.00-55570.00 Machinery & Equipment - - 41,024 (41,024) n/a - (41,024)
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 20,044 (44) 100%21,028 984
Total Public Works 455,690 455,690 485,190 (29,500) 106%444,272 (40,918)
Culture and Recreation
410-45200.00-55550.00 Vehicles 279,645 279,645 201,288 78,357 72%97,286 (104,003)
410-45200.00-55570.00 Machinery and Equipment 264,504 264,504 237,355 27,149 90%- (237,355)
Total Culture & Recreation 544,149 544,149 438,643 105,506 81%97,286 (341,357)
Water
410-49400.00-55550.00 Vehicles - - - - n/a 25,368 25,368
410-49400.00-55570.00 Machinery and Equipment - - - - n/a 13,950 13,950
Water Quality
410-49420.00-55550.00 Vehicles - - - - n/a 89,831 89,831
Sewer
410-49450.00-55570.00 Machinery and Equipment - - - - n/a 2,500 2,500
Total Utility - - - - n/a 131,649 131,649
OTHER FINANCING USES
Interest and Other
410-43100.00-55070.00 Projects - Bond Issuance Costs - - 11,039 (11,039) n/a - (11,039)
Transfers out
410-80000.00-59203.00 Transfers to Other Funds - - 148,021 (148,021) n/a - (148,021)
- - 159,060 (159,060) n/a - (159,060)
Total Expenditures 1,200,955 1,200,955 1,175,520 25,435 98%945,759 (240,763)
Net Change (295,888) (295,888) (270,139) (425,997)
COMPARATIVE
City of Prior Lake
Facilities Management Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Interest (losses) on investments
440-00000.00-36210.00 Interest Earnings 8,029 8,029 9,939 1,910 124%11,841 (1,902)
440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 85 85 n/a 1,831 (1,746)
Interest (losses) on investments 8,029 8,029 10,024 1,995 125%13,672 (3,648)
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 55,000 55,000 55,000 - 100%50,000 5,000
Transfers in 55,000 55,000 55,000 - 100%50,000 5,000
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%- -
Total Revenues 683,029 683,029 65,024 (618,005) 10%63,672 1,352
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 45,614 45,614 45,614 - 100%81,381 35,767
41910.00 COMMUNITY DEVELOPMENT - - - - n/a 827 827
41960.00 GESP - - 257,313 (257,313) n/a 2,323,247 2,065,934
Total - Function General Government 45,614 45,614 302,927 (257,313) 664%2,405,455 2,102,528
Function: Public Safety
42100.00 POLICE 44,558 44,558 - 44,558 0%- -
42200.00 FIRE 36,284 36,284 - 36,284 0%5,850 5,850
Total - Function Public Safety 80,842 80,842 - 80,842 0%5,850 5,850
Function: Culture and Recreation
45100.00 RECREATION - - - - n/a 6,642 6,642
45500.00 LIBRARIES - - - - n/a 6,872 6,872
Total - Function Culture and Recreation - - - - n/a 13,514 13,514
Function: Water
49400.00 Building & Building Improvements 619,950 619,950 1,140 618,810 0%12,400 11,260
Total - Function Culture and Recreation 619,950 619,950 1,140 618,810 0%12,400 11,260
Total Expenditures 746,406 746,406 304,067 442,339 41%2,437,219 2,133,152
Net Change (63,377) (63,377) (239,043) (2,373,548)
COMPARATIVE
City of Prior Lake
Water Fund
As of 12/31/2016
(Preliminary & Unaudited) COMPARATIVE
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 3,363,646 3,363,646 3,312,562 (51,084) 98%3,018,320 294,241
601-49400.00-37160.00 Penalties 7,000 7,000 16,685 9,685 238%13,856 2,830
Water Charges 3,370,646 3,370,646 3,329,247 (41,399) 99%3,032,176 297,071
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 254,340 254,340 256,984 2,644 101%253,220 3,764
Capital Facility charges 254,340 254,340 256,984 2,644 101%253,220 3,764
Meter Sales
601-49400.00-37170.00 Water Meter Sales 104,150 104,150 66,758 (37,392) 64%80,539 (13,782)
601-49400.00-37175.00 Pressure Reducers 35,400 35,400 21,103 (14,297) 60%24,089 (2,986)
601-49400.00-37180.00 Frost Plates - - 7 7 n/a 28 (21)
Meter Sales 139,550 139,550 87,868 (51,682) 63%104,656 (16,788)
Intergovernmental
601-00000.00-33422.15 State Aids/Grants - Operating Public Wor - - 3,333 3,333 n/a - 3,333
601-00000.00-33422.25 State Aids/Grants - Capital Public Works - - 10,000 10,000 n/a - 10,000
Intergovernmental - - 13,333 13,333 n/a - 13,333
Interest (losses) on investments
601-00000.00-36210.00 Interest Earnings 60,000 60,000 37,738 (22,262) 63%50,028 (12,290)
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,522) (2,522) n/a 8,246 (10,768)
Interest (losses) on investments 60,000 60,000 35,216 (24,784) 59%58,274 (23,058)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 6,488 6,488 n/a 9,968 (3,479)
601-00000.00-36102.00 County Assess Collection - - 993 993 n/a 4,550 (3,557)
601-00000.00-36231.00 PERA Pension Contributions - - 2,622 2,622 n/a - 2,622
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 37 37 n/a 53 (16)
601-00000.00-37901.00 Contribution (Other Fund)- - 1,774,662 1,774,662 n/a 542,506 1,232,155
601-00000.00-37902.00 Contribution (Developers)- - 778,674 778,674 n/a 575,323 203,351
Miscellaneous Revenues - - 2,563,476 2,563,476 n/a 1,132,400 1,431,076
Transfers in
39203.00 Transfer from Other Funds - - 24,871 24,871 n/a - 24,871
- - 24,871 24,871 n/a - 24,871
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%- -
Total Revenues 4,774,536 4,774,536 6,310,995 1,536,459 132%4,580,726 1,730,269
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 828,464 828,464 1,742,896 (914,432) 210%2,279,145 536,249
41520.00 FINANCE 87,683 87,683 85,361 2,322 97%77,487 (7,873)
Total - Function General Government 916,147 916,147 1,828,257 (912,110) 200%2,356,632 528,376
Function: Water
49400.00 WATER 4,179,428 4,179,428 2,408,179 1,771,249 58%2,269,666 (138,512)
Total - Function Water 4,179,428 4,179,428 2,408,179 1,771,249 58%2,269,666 (138,512)
Total Expenditures 5,095,575 5,095,575 4,236,436 859,139 83%4,626,299 389,863
Net Change (321,039) (321,039) 2,074,560 (45,573)
City of Prior Lake
Sewer Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 1,207,960 1,207,960 1,293,164 85,204 107%1,049,942 243,222
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,327,560 1,327,560 1,177,048 (150,512) 89%1,118,500 58,548
Sewer Charges 2,535,520 2,535,520 2,470,212 (65,308) 97%2,168,442 301,770
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 254,970 254,970 256,994 2,024 101%253,229 3,764
Capital Facility charges 254,970 254,970 256,994 2,024 101%253,229 3,764
Water Charges
604-49450.00-37160.00 Penalties 7,000 7,000 14,372 7,372 205%11,254 3,119
Water Charges 7,000 7,000 14,372 7,372 205%11,254 3,119
Intergovernmental
604-00000.00-33422.25 State Aids/Grants - Capital Public Works - - 57,280 57,280 n/a - 57,280
Intergovernmental - - 57,280 57,280 n/a - 57,280
Interest (losses) on investments
604-00000.00-36210.00 Interest Earnings 40,000 40,000 20,709 (19,291) 52%27,089 (6,380)
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (235) (235) n/a 6,928 (7,162)
Interest (losses) on investments 40,000 40,000 20,474 (19,526) 51%34,017 (13,543)
Miscellaneous Revenues
604-00000.00-36212.00 Miscellaneous Revenue - - 3,181 3,181 n/a - 3,181
604-00000.00-36231.00 PERA Pension Contributions - - 2,185 2,185 n/a - 2,185
604-00000.00-37901.00 Contribution (Other Fund)- - 1,046,156 1,046,156 n/a 399,075 647,081
604-00000.00-37902.00 Contribution (Developers)- - 699,055 699,055 n/a 271,951 427,104
Miscellaneous Revenues - - 1,750,577 1,750,577 n/a 671,026 1,079,551
Transfers in
39203.00 Transfer from Other Funds - - 92,312 92,312 n/a - 92,312
- - 92,312 92,312 n/a - 92,312
Total Revenues 2,837,490 2,837,490 4,662,220 1,824,730 164%3,137,967 1,524,253
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 251,320 251,320 631,004 (379,684) 251%1,343,820 712,817
41520.00 FINANCE 87,683 87,683 85,372 2,311 97%77,443 (7,929)
Total - Function General Government 339,003 339,003 716,375 (377,372) 211%1,421,263 704,888
Function: Sewer
49450.00 SEWER 2,593,298 2,593,298 2,549,934 43,364 98%2,391,484 (158,450)
Total - Function Sewer 2,593,298 2,593,298 2,549,934 43,364 98%2,391,484 (158,450)
Total Expenditures 2,932,301 2,932,301 3,266,309 (334,008) 111%3,812,747 546,438
Net Change (94,811) (94,811) 1,395,911 (674,780)
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 838,537 838,537 916,881 78,344 109%862,204 54,678
Storm Water Charges 838,537 838,537 916,881 78,344 109%862,204 54,678
Water Charges
602-49420.00-37160.00 Penalties - - 3,247 3,247 n/a 3,040 206
Water Charges - - 3,247 3,247 n/a 3,040 206
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants - - - - n/a 24,000 (24,000)
602-00000.00-33422.10 State Aids/Grants 34,790 34,790 - (34,790) 0%2,190 (2,190)
602-49420.00-33610.20 County-City Aids/Grants - - (10,175) (10,175) n/a 12,212 (22,387)
602-49420.00-33633.00 Watershed Dist Grants/Aid - - - - n/a 4,000 (4,000)
Intergovernmental 34,790 34,790 (10,175) (44,965) -29%42,402 (52,577)
Interest (losses) on investments
602-00000.00-36210.00 Interest Earnings 10,000 10,000 12,471 2,471 125%9,531 2,940
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,219) (2,219) n/a 435 (2,653)
Interest (losses) on investments 10,000 10,000 10,253 253 103%9,966 287
Miscellaneous Revenues
602-00000.00-36212.00 Miscellaneous Revenue - - 120 120 n/a - 120
602-00000.00-36231.00 PERA Pension Contributions - - 1,092 1,092 n/a - 1,092
602-00000.00-37901.00 Contribution (Other Fund)- - 62,261 62,261 n/a 265,691 (203,430)
Miscellaneous Revenues - - 63,473 63,473 n/a 265,691 (202,218)
Total Revenues 883,327 883,327 983,679 100,352 111%1,183,303 2,594
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 21,000 21,000 167,768 (146,768) 799%321,769 154,001
Total - Function General Government 21,000 21,000 167,768 (146,768) 799%321,769 154,001
Function: Water Quality
49420.00 WATER QUALITY 942,553 942,553 588,795 353,758 62%560,820 (27,975)
Total - Function Water Quality 942,553 942,553 588,795 353,758 62%560,820 (27,975)
Total Expenditures 963,553 963,553 756,563 206,990 79%882,590 126,026
Net Change (80,226) (80,226) 227,115 300,714
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 12/31/2016
(Preliminary & Unaudited)
Variance from Variance from
2016 2016 2016 Amended Budget - % BDGT Actual from 2015
Budget Amended Actual Positive (Negative)USED 12/31/2015 Positive (Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 155,000 155,000 155,069 69 100%158,714 (3,644)
240-00000.00-33423.00 Market Value Credit Aid - - - - n/a 17 (17)
Taxes 155,000 155,000 155,069 69 100%158,731 (3,661)
Intergovernmental
240-46500.00-33610.14 County-City Aids/Grants - Operating EDA - - 7,278 7,278 n/a 17,165 (9,888)
Intergovernmental - - 7,278 7,278 n/a 17,165 (9,888)
Charges for Services
240-46503.00-34760.02 Facility Rental - EDA 10,000 10,000 6,340 (3,660) 63%7,438 (1,098)
Charges for Services 10,000 10,000 6,340 (3,660) 63%7,438 (1,098)
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 500 500 2,209 1,709 442%2,607 (398)
240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (311) (311) n/a 387 (699)
Interest (losses) on investments 500 500 1,897 1,397 379%2,994 1,097
Total Revenues 165,500 165,500 170,584 5,084 103%186,328 (15,744)
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 153,775 153,775 142,336 11,439 93%143,281 944
46503.00 TECH VILLAGE INCUBATOR 27,650 27,650 8,831 18,819 32%16,278 7,447
Total Expenditures 181,425 181,425 151,167 30,258 83%159,558 8,391
Net Change (15,925) (15,925) 19,417 26,770
COMPARATIVE