HomeMy WebLinkAbout5C 2017 1st Quarter Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: MAY 22, 2017
AGENDA #: 5C
PREPARED BY: JASON ETTER, ACCOUNTANT
PRESENTER: CATHY ERICKSON, ACCOUNTING MANAGER
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 1st QUARTER 2017
FINANCIAL REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
March 31, 2017, for the following funds:
• General Fund
• Debt Service Funds
• Cable Fund
• Capital Park Fund
• Revolving Equipment Fund
• Facilities Management Fund
• Water Fund
• Sewer Fund
• Water Quality Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity during first quarter
2017. 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
952-447-9842 for more information.
ALTERNATIVES: 1. Motion and second as part of the consent agenda to approve the
March 31, 2017 Financial Report as submitted.
2. Motion and second to remove the Financial Report from the consent
agenda for additional discussion.
RECOMMENDED
MOTION:
Alternative 1.
Page 2
MEMORANDUM
DATE: May 22, 2017
TO: Prior Lake City Council
FROM: Cathy Erickson, Accounting Manager
RE: Financial Report dated 3/31/2017
The financial reports presented as part of this agenda item reflect activity during the first quarter
of 2017. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for 2017:
• Preliminary financial information reflects expenditures exceeding revenues by
$1,628,124; This is expected since the primary funding source of property tax revenue
will not be received until June.
• The 2017 budget has been amended to use reserves of $98,790 for projects carried
forward from 2016 ($70k) and completion of a compensation study ($28k).
• Charges for Services and Licenses and Permits are lower than in this same period in
2016 due to receipt of $88,000 for the Grainwood building permits in 2016.
• Expenditures are higher than in this same period in 2016 primarily in personal services
which follow our labor agreements and are also impacted by staff moving through the
various steps within their grade level and cost of living adjustments.
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 120 for 2017. Revenues associated with
building permits and plan check fees are approximately $180k lower than in the 1st quarter
2016. The following table provides a breakdown of the first quarter activity by year. As
mentioned above, 2016 included $88,000 for the Grainwood building permits.
Year Single
Family
Townhomes Commercial /
Industrial
Other
Permits
Total Change
from PY
2017 10 0 0 302 312 (10%)
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%
Liquor Iicense renewals occur in June, so the revenue will be reflected in the financial report in
June.
The first half payments were received for Municipal State Aid and the township fire agreements.
First quarter franchise fees collected in April have not been included in this report.
Project engineering fees are currently only 12% of the annual 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. As the 2017 projects
move forward, staff engineering time charged to projects will increase.
Page 3
Recreation revenues (including Park admission fees and facility rental) are slightly higher than
the 1st quarter of 2016, primarily due to the increase in park shelter rentals.
Interest earnings are at 25% of the budget. The report also reflects a $58k decrease in the fair
value of the securities. As rates increased, the market value of the existing securities have
decreased. This is a paper loss; no actual loss is realized because the City holds the securities
until maturity.
First quarter miscellaneous revenue includes the return of the Guaranteed Energy Savings
Program (GESP) escrow proceeds of approximately $65,000. 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 year-end 2016, the
improvements associated with this project were complete. The cost was less than anticipated,
and the remaining escrow was deposited in the general fund.
General Fund Expenditures
General Fund expenditures for 2017 represents 20% of the $13,169,668 amended budget. The
level of expenditures (as a percent of budget) is consistent to the same period in 2016. Some
key points related to expenditures for the 1st quarter of 2017 are:
• Expenditures in administration are higher than the first quarter of 2016 due mainly to the
prepayment of a portion of the community survey in 2017.
• Information technology is higher than 1Q 2016 due to technology investments that took
place in 2017 for PC’s and for a services retainer for network and technical support.
• Police personal services is also higher than 2016 due mainly to full staffing in the current
year as compared to the prior year.
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
15% 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 February 2017.
Cable Fund
First quarter PEG fees collected in April have not been included in this report. There were no
expenditures in the first quarter for planned technology upgrades.
Capital Park Fund
Park Dedication Fees were received for the Dominium Grainwood project in the 1st quarter of
2016. No fees have been received so far in 2017. Interest earnings are at 31% of the budget
which is slightly lower than 2016.
Revolving Equipment Fund
Property taxes, the primary funding source, are received in June, December and January (final
tax settlement). Interest earnings are at 20% 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.
Page 4
Approved police vehicle, public works equipment, and parks equipment have taken place in the
first quarter of 2017. Vehicle and equipment purchases were approved at council meetings
earlier in the year.
Facilities Management Fund
Interest earnings are at 48% 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
year-end 2016, the improvements associated with this project were complete.
The replacement of the maintenance center roof, which is reflected in the 2017 budget, is going
to Council for contract award in the second quarter.
Water Fund
The financial report for the Water Fund reflects only one billing cycle. Consumption decreased
slightly from 2016. Water revenues are about 11% of the 2017 budget.
Interest earnings are at 28% of the budget which is higher than the same period in 2016. 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 and transfers are higher than 2016. In first quarter 2017, 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 decreased
slightly from 2016. Sewer revenues are at 12% of the budget and slightly lower compared to
first quarter 2016. The estimated level of discharge is reevaluated annually in conjunction with
the preparation of the Capital Improvement Program.
Interest earnings are at 28% 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 2017 are at 13% of the approved budget. Operational budgetary
transfers for first quarter are reflected in the report.
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 2016 at 14% of the
budget.
Interest earnings are at 42% 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 2016. Operational budgetary transfers for
first quarter are reflected in the report.
Page 5
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 most of the expenditures and are at 21% of budget as of the
first quarter end.
If you have any questions regarding these financial reports, please contact me at 952.447.9842.
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COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive ( Negative)USED 3/31/2016 Positive (Negative)
Taxes
101 31010.00 Current Property Taxes - General Purpos 7,397,541 7,397,541 - (7,397,541) 0%- -
101 31040.00 Delinquent Property Taxes - General Purp - - - - n/a - -
101 31040.00 Fiscal Disparities 813,271 813,271 - (813,271) 0%- -
101 33423.00 Market Value Credit Aid - - - - n/a - -
Taxes 8,210,812 8,210,812 - (8,210,812) 0%- -
Licenses and Permits
101 32100.00 Business Licenses 800 800 900 100 113%700 200
101 32110.00 Liquor Licenses 73,290 73,290 - (73,290) 0%175 (175)
101 32160.00 Refuse Haulers 3,450 3,450 250 (3,200) 7%- 250
101 32170.00 Outdoor Concert Permits 1,150 1,150 - (1,150) 0%500 (500)
101 32180.00 Cigarette Licenses 2,500 2,500 2,250 (250) 90%2,500 (250)
101 32210.00 Building Permits 398,420 398,420 49,027 (349,393) 12%158,819 (109,792)
101 32211.00 Retainage Forfeiture - - - - n/a 6,332 (6,332)
101 32215.00 Mechanical Permits 45,165 45,165 5,363 (39,803) 12%7,274 (1,912)
101 32230.00 Plumbing Permits 42,690 42,690 9,853 (32,837) 23%7,496 2,357
101 32231.00 Sewer/Water Inspection 6,180 6,180 566 (5,614) 9%1,329 (763)
101 32232.00 Plumbing Registrations 1,200 1,200 650 (550) 54%575 75
101 32240.00 Animal Licenses 3,750 3,750 2,585 (1,165) 69%2,250 335
101 32260.00 Burning Permits 2,625 2,625 690 (1,935) 26%725 (35)
101 32270.00 Short-term Rental Fee 2,000 2,000 400 (1,600) 20%200 200
101 32175.00 Public Private Gathering Permit - - 100 100 n/a - 100
101 32190.00 Community Event Application - - 50 50 n/a - 50
Licenses and Permits 583,220 583,220 72,683 (510,537) 12%188,875 (116,192)
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 316,827 316,827 167,538 (149,289) 53%162,607 4,931
101 33420.00 State Fire Aid-Ins. Prem.206,000 206,000 1,000 (205,000) 0%- 1,000
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 311,068 311,068 149,038 (162,030) 48%155,534 (6,496)
101 33621.00 Liaison Aid 45,860 45,860 - (45,860) 0%- -
100 33630.00 Metro Council Grants - - - - n/a - -
101 33631.00 Payment in Lieu of Taxes 440,000 440,000 110,000 (330,000) 25%105,000 5,000
101 33700.23 Miscellaneous Grants - Capital Parks - - - - n/a - -
Intergovernmental 1,542,735 1,542,735 427,576 (1,115,159) 28%423,141 4,435
Charges for Services
101 31810.00 Franchise Taxes 603,000 603,000 - (603,000) 0%- -
101 34103.00 Zoning & Subdivision Fees 20,650 20,650 9,243 (11,407) 45%4,036 5,207
101 34104.00 Plan Check Fees 243,474 243,474 25,454 (218,020) 10%95,404 (69,950)
101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 1,020 20 102%259 761
101 34107.00 Assessment Searches - Reports 400 400 - (400) 0%60 (60)
101 34109.00 Project Admin/Eng Fees 343,000 343,000 21,952 (321,048) 6%56,405 (34,453)
101 34203.00 Accident/Warrant Reports - Reports - - 5 5 n/a 10 (5)
101 34304.00 PEG Access Fees 32,000 32,000 - (32,000) 0%- -
101 34731.00 Softball Fees 11,000 11,000 14,061 3,061 128%11,805 2,256
101 34735.00 Recreation Program Fees 47,000 47,000 23,623 (23,377) 50%22,536 1,087
101 34740.00 Concessions - Park Fees - - - - n/a - -
101 34760.01 Facility Rental - Regular 74,021 74,021 18,457 (55,564) 25%18,262 195
101 34761.00 Studio/Pavilion Rental 15,000 15,000 14,349 (651) 96%9,593 4,756
101 34762.00 Park Shelter Rental 42,500 42,500 22,001 (20,499) 52%5,647 16,354
101 34763.13 Facility Usage Fee (not taxable)15,300 15,300 - (15,300) 0%- -
101 34765.01 Tower Leases 267,966 267,966 90,375 (177,591) 34%101,711 (11,336)
101 34780.00 Park Admission Fees 18,000 18,000 - (18,000) 0%- -
101 34783.00 City Contract Services 42,000 42,000 3,696 (38,304) 9%- 3,696
101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - - - n/a - -
Charges for Services 1,776,311 1,776,311 244,236 (1,532,075) 14%325,728 (81,492)
Fines and Forfeitures
101 35101.00 County Court Fines - - 100 100 n/a 200 (100)
101 35104.00 Prosecution Restitution - - - - n/a - -
Fines and Forfeitures - - 100 100 n/a 200 (100)
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive ( Negative)USED 3/31/2016 Positive (Negative)
COMPARATIVE
Interest (losses) on investments
101 36210.00 Interest Earnings 85,750 85,750 21,277 (64,473) 25%25,567 (4,290)
101 36225.00 Unrealized Inv.Gain(Loss)- - (4,452) (4,452) n/a 53,969 (58,421)
Interest (losses) on investments 85,750 85,750 16,825 (68,925) 20%79,536 (62,711)
Other Miscellaneous Revenues
101 36102.00 County Assess. Collection 2,500 2,500 - (2,500) 0%- -
101 36211.00 Developer Agreements 60,000 60,000 4,500 (55,500) 8%- 4,500
101 36212.00 Miscellaneous Revenue 29,550 29,550 68,126 38,576 231%1,243 66,883
101 36230.00 Contributions & Donations - - 100 100 n/a - 100
101 39102.00 Sale of Property - - 3,440 3,440 n/a - 3,440
Other Miscellaneous Revenues 92,050 92,050 76,166 (15,884) 83%1,243 74,923
Other financing sources
101 39310.00 G.O. Bond Proceeds 300,000 300,000 - (300,000) 0%- -
101 39203.00 Transfer from Other Funds 430,000 430,000 107,500 (322,500) 25%90,660 16,840
Other financing sources 730,000 730,000 107,500 (622,500) 15%90,660 16,840
Total Revenues 13,020,878 13,020,878 945,087 (12,075,791) 7%1,109,383 (164,296)
City of Prior Lake
General Fund Expenditures
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance from
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Function: General Government
41110.00 MAYOR & COUNCIL 58,193 58,193 15,472 42,721 27%11,911 (3,561)
41130.00 ORDINANCE 7,500 7,500 933 6,567 12%936 3
41320.00 ADMINISTRATION 409,228 409,228 117,394 291,834 29%91,977 (25,417)
41330.00 BOARDS & COMMISSIONS 10,689 10,689 2,384 8,305 22%1,672 (712)
41410.00 ELECTIONS - - - - n/a 288 288
41520.00 FINANCE 459,966 459,966 103,690 356,276 23%86,731 (16,959)
41530.00 ACCOUNTING - - - - n/a - -
41540.00 INTERNAL AUDITING 28,150 28,150 3,090 25,060 11%4,690 1,600
41550.00 ASSESSING 187,250 187,250 - 187,250 0%- -
41610.00 LEGAL 200,000 200,000 37,407 162,593 19%27,016 (10,391)
41820.00 HUMAN RESOURCES 163,605 191,625 41,091 150,534 21%29,352 (11,739)
41830.00 COMMUNICATIONS 119,708 119,708 27,102 92,606 23%26,928 (174)
41910.00 COMMUNITY DEVELOPMENT 347,273 347,273 70,183 277,090 20%59,113 (11,070)
41920.00 INFORMATION TECHNOLOGY 345,585 373,585 112,317 261,268 30%58,276 (54,041)
41940.00 FACILITIES - CITY HALL 485,854 488,854 96,005 392,849 20%82,245 (13,760)
Total - Function General Government 2,823,001 2,882,021 627,068 2,254,953 22%481,135 (145,933)
Function: Public Safety
42100.00 POLICE 3,730,730 3,744,730 871,314 2,873,416 23%749,613 (121,701)
42200.00 FIRE 905,149 905,149 143,910 761,239 16%139,032 (4,878)
42400.00 BUILDING INSPECTION 638,325 638,325 144,511 493,814 23%110,943 (33,568)
42500.00 EMERGENCY MANAGEMENT 11,802 11,802 441 11,361 4%433 (8)
42700.00 ANIMAL CONTROL 26,448 26,448 4,400 22,048 17%6,300 1,900
Total - Function Public Safety 5,312,454 5,326,454 1,164,576 4,161,878 22%1,006,321 (158,255)
Function: Public Works
43050.00 ENGINEERING 385,272 385,272 73,738 311,534 19%65,124 (8,614)
43100.00 STREET 1,393,754 1,419,524 232,466 1,187,058 16%202,198 (30,268)
43400.00 CENTRAL GARAGE 404,554 404,554 86,475 318,079 21%59,063 (27,412)
Total - Function Public Works 2,183,580 2,209,350 392,679 1,816,671 18%326,385 (66,294)
Function: Culture and Recreation
45100.00 RECREATION 388,352 388,352 69,758 318,594 18%61,376 (8,382)
45200.00 PARKS 1,292,709 1,292,709 219,834 1,072,875 17%174,893 (44,941)
45500.00 LIBRARIES 52,763 52,763 13,529 39,234 26%10,148 (3,381)
46100.00 NATURAL RESOURCES - - - - n/a - -
Total - Function Culture and Recreation 1,733,824 1,733,824 303,121 1,430,703 17%246,417 (56,704)
00000.00 Transfer to Other Funds 1,018,019 1,018,019 85,767 932,252 8%- (85,767)
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE - - - - n/a - -
Total - Function Contingent Reserve - - - - n/a - -
Total Expenditures 13,070,878 13,169,668 2,573,211 10,596,457 20%2,060,258 (512,953)
COMPARATIVE
City of Prior Lake
Debt Service Funds
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Property Taxes
Current Property Taxes 2,628,937 2,628,937 - (2,628,937) 0%- -
Special Assessments
City Assess. Collections - - 35,741 35,741 n/a 17,914 17,827
County Assess. Collection 457,517 457,517 - (457,517) 0%- -
Interest (losses) on investments
Interest Earnings 40,117 40,117 6,073 (34,044) 15%7,211 (1,138)
Unrealized Inv.Gain(Loss)- - (24,708) (24,708) n/a 14,138 (38,846)
Miscellaneous Revenues
Miscellaneous Revenues - - - - n/a - -
Other Financing Sources
Transfer from Other Funds 1,613,635 1,613,635 436 (1,613,199) 0%- 436
Bond Proceeds - - - - n/a - -
Total Revenues 4,740,206 4,740,206 17,542 (4,722,664) 0%39,263 (21,721)
Expenditures
Debt Service
Principal 3,987,634 3,987,634 150,000 3,837,634 4%- (150,000)
Interest and Other 1,031,684 1,031,860 3,675 1,028,185 0%- (3,675)
Bond Issuance Costs - - - - n/a - -
Bond Discount/Premium - - - - n/a - -
Total Expenditures 5,019,318 5,019,494 153,675 4,865,819 3%- (153,675)
Net Change (279,112) (279,288) (136,133) 39,263
COMPARATIVE
City of Prior Lake
Cable Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Franchise Taxes
210-41340.00.31810.00 Franchise Taxes - - - - n/a - -
Charges for Services
210-41340.00-34304.00 PEG Access Fees 37,133 37,133 - (37,133) 0%- -
Total Revenues 37,133 37,133 - (37,133) 0%- -
Expenditures
Current Expenditures
210-41340.00-52400.20 Small Equipment - Technology 11,250 11,250 - 11,250 0%- -
Capital Outlay
210-41340.00-55530.00 Infrastructure - - - - n/a - -
Total Expenditures 11,250 11,250 - 11,250 0%- -
Net Change 25,883 25,883 - -
COMPARATIVE
City of Prior Lake
Capital Park Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental - Regular 24,000 24,000 6,000 (18,000) 25%5,950 50
225-45200.00-34791.00 Dedication Fees 405,000 405,000 - (405,000) 0%450,000 (450,000)
Charges for Services 429,000 429,000 6,000 (423,000) 1%455,950 (449,950)
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 9,000 9,000 2,833 (6,167) 31%2,534 299
225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (674) (674) n/a 5,020 (5,694)
Interest (losses) on investments 9,000 9,000 2,159 (6,841) 24%7,554 (5,395)
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 2,100 2,100 n/a 3,375 (1,275)
Contributions and donations - - 2,100 2,100 n/a 3,375 (1,275)
Total Revenues 438,000 438,000 10,259 (427,741) 2%466,879 (456,620)
Expenditures
54320.00 Miscellaneous - - - - n/a 3,712 3,712
59203.00 Transfers to Other Funds - - - - n/a - -
53100.80 Professional Services-General - - - - n/a 698 698
55530.00 Infrastructure - - - - n/a 182,499 182,499
Total Expenditures - - - - n/a 186,909 183,197
Net Change 438,000 438,000 10,259 279,970
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 375,000 375,000 - (375,000) 0%- -
Taxes 375,000 375,000 - (375,000) 0%- -
Interest (losses) on investments
410-00000.00-36210.00 Interest Earnings 10,594 10,594 2,081 (8,513) 20%3,326 (1,245)
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (342) (342) n/a 7,105 (7,447)
Interest (losses) on investments 10,594 10,594 1,739 (8,855) 16%10,431 (8,692)
Sale of assets
410-00000.00-39102.00 Sale of Property - - - - n/a - -
Sale of assets - - - - n/a - -
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 341,000 341,000 85,250 (255,750) 25%35,250 50,000
Transfers in 341,000 341,000 85,250 (255,750) 25%35,250 50,000
OTHER FINANCING SOURCES
Debt Issued
410-00000.00-39310.00 G.O. Bond Proceeds - - - - n/a - -
Premium on debt issued
410-43100.00-55110.00 Projects - Bond Discount/Premium - - - - n/a - -
- - - - n/a - -
Total Revenues 726,594 726,594 86,989 (639,605) 12%45,681 41,308
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 124,700 124,700 66,681 58,019 53%81,547 14,866
410-42100.06-54350.00 Agency Forfeit Proceeds - - - - n/a - -
Fire
410-42200.00-55550.00 Vehicles - - - - n/a 441 441
410-42200.00-55570.00 Machinery & Equipment - - - - n/a - -
Total Public Safety 124,700 124,700 66,681 58,019 53%81,988 15,307
Public Works
Street
410-43100.00-55550.00 Vehicles 213,210 213,210 - 213,210 0%200 200
410-43100.00-55570.00 Machinery & Equipment 11,124 11,124 12,354 (1,230) 111%41,024 28,670
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 - 20,000 0%- -
Total Public Works 244,334 244,334 12,354 231,980 5%41,224 28,870
Culture and Recreation
410-45200.00-55550.00 Vehicles 32,960 32,960 32,404 556 98%177 (32,227)
410-45200.00-55570.00 Machinery and Equipment 59,225 59,225 37,297 21,928 63%155,877 118,580
Total Culture & Recreation 92,185 92,185 69,701 22,484 76%156,054 86,353
Water
410-49400.00-55550.00 Vehicles 4,635 4,635 - 4,635 0%- -
410-49400.00-55570.00 Machinery and Equipment - - - - n/a - -
Water Quality
410-49420.00-55550.00 Vehicles - - - - n/a - -
Sewer
410-49450.00-55550.00 Vehicles 406,850 406,850 - 406,850 0%- -
Total Utility 411,485 411,485 - 411,485 0%- -
OTHER FINANCING USES
Interest and Other
410-43100.00-55070.00 Projects - Bond Issuance Costs - - - - n/a - -
Transfers out
410-80000.00-59203.00 Transfers to Other Funds - - - - n/a - -
- - - - n/a - -
Total Expenditures 872,704 872,704 148,736 723,968 17%279,266 130,530
Net Change (146,110) (146,110) (61,747) (233,585)
COMPARATIVE
City of Prior Lake
Facilities Management Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Interest (losses) on investments
440-00000.00-36210.00 Interest Earnings 5,000 5,000 2,388 (2,612) 48%2,777 (389)
440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (516) (516) n/a 5,405 (5,921)
Interest (losses) on investments 5,000 5,000 1,872 (3,128) 37%8,182 (6,310)
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 56,650 56,650 14,163 (42,487) 25%13,750 413
Transfers in 56,650 56,650 14,163 (42,487) 25%13,750 413
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 681,650 681,650 16,035 (665,615) 2%21,932 (5,897)
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 20,614 20,614 - 20,614 0%- -
41910.00 COMMUNITY DEVELOPMENT - - - - n/a - -
41960.00 GESP - - - - n/a 101,294 101,294
Total - Function General Government 20,614 20,614 - 20,614 0%101,294 101,294
Function: Public Safety
42100.00 POLICE - - - - n/a - -
42200.00 FIRE 17,484 17,484 - 17,484 0%- -
Total - Function Public Safety 17,484 17,484 - 17,484 0%- -
Function: Culture and Recreation
45100.00 RECREATION - - - - n/a - -
45500.00 LIBRARIES 79,961 79,961 - 79,961 0%- -
Total - Function Culture and Recreation 79,961 79,961 - 79,961 0%- -
Function: Water
49400.00 Building & Building Improvements 114,081 734,081 - 734,081 0%- -
Total - Function Culture and Recreation 114,081 734,081 - 734,081 0%- -
Total Expenditures 232,140 852,140 - 852,140 0%101,294 101,294
Net Change 449,510 (170,490) 16,035 (79,362)
COMPARATIVE
City of Prior Lake
Water Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 3,740,806 3,740,806 395,531 (3,345,275) 11%357,520 38,011
601-49400.00-37160.00 Penalties 11,000 11,000 3,329 (7,671) 30%2,817 512
Water Charges 3,751,806 3,751,806 398,860 (3,352,946) 11%360,337 38,523
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 264,540 264,540 43,231 (221,309) 16%42,582 649
Capital Facility charges 264,540 264,540 43,231 (221,309) 16%42,582 649
Meter Sales
601-49400.00-37170.00 Water Meter Sales 73,150 73,150 9,888 (63,262) 14%11,841 (1,953)
601-49400.00-37175.00 Pressure Reducers 26,700 26,700 1,675 (25,025) 6%4,236 (2,561)
601-49400.00-37180.00 Frost Plates - - - - n/a - -
Meter Sales 99,850 99,850 11,563 (88,287) 12%16,077 (4,514)
Intergovernmental
601-00000.00-33422.15 State Aids/Grants - Operating Public Wor - - - - n/a - -
601-00000.00-33422.25 State Aids/Grants - Capital Public Works - - - - n/a - -
Intergovernmental - - - - n/a - -
Interest (losses) on investments
601-00000.00-36210.00 Interest Earnings 40,000 40,000 11,179 (28,821) 28%11,513 (334)
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,376) (2,376) n/a 23,335 (25,711)
Interest (losses) on investments 40,000 40,000 8,803 (31,197) 22%34,848 (26,045)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 30 30 n/a 100 (70)
601-00000.00-36102.00 County Assess Collection - - - - n/a - -
601-00000.00-36231.00 PERA Pension Contributions - - - - n/a - -
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 3 3 n/a - 3
601-00000.00-37901.00 Contribution (Other Fund)- - - - n/a - -
601-00000.00-37902.00 Contribution (Developers)- - - - n/a - -
Miscellaneous Revenues - - 33 33 n/a 100 (67)
Transfers in
39203.00 Transfer from Other Funds 250,000 250,000 - (250,000) 0%- -
250,000 250,000 - (250,000) 0%- -
Debt Issued
601-00000.00-39310.00 G.O. Bond Proceeds 850,000 850,000 - (850,000) 0%- -
Debt Issued 850,000 850,000 - (850,000) 0%- -
Total Revenues 5,256,196 5,256,196 462,490 (4,793,706) 9%453,944 8,546
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 941,147 941,147 97,838 843,309 10%71,580 (26,258)
41520.00 FINANCE 86,977 86,977 20,143 66,834 23%20,604 461
Total - Function General Government 1,028,124 1,028,124 117,981 910,143 11%92,184 (25,797)
Function: Water
49400.00 WATER 4,997,773 5,015,808 339,462 4,676,346 7%314,037 (25,425)
Total - Function Water 4,997,773 5,015,808 339,462 4,676,346 7%314,037 (25,425)
Total Expenditures 6,025,897 6,043,932 457,443 5,586,489 8%406,221 (51,222)
Net Change (769,701) (787,736) 5,047 47,723
COMPARATIVE
City of Prior Lake
Sewer Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 1,452,600 1,452,600 227,874 (1,224,726) 16%169,476 58,398
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,387,800 1,387,800 216,955 (1,170,845) 16%185,478 31,477
Sewer Charges 2,840,400 2,840,400 444,829 (2,395,571) 16%354,954 89,875
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 260,130 260,130 43,232 (216,898) 17%42,583 649
Capital Facility charges 260,130 260,130 43,232 (216,898) 17%42,583 649
Water Charges
604-49450.00-37160.00 Penalties 9,000 9,000 3,754 (5,246) 42%2,766 988
Water Charges 9,000 9,000 3,754 (5,246) 42%2,766 988
Intergovernmental
604-00000.00-33422.25 State Aids/Grants - Capital Public Works - - - - n/a - -
Intergovernmental - - - - n/a - -
Interest (losses) on investments
604-00000.00-36210.00 Interest Earnings 22,810 22,810 6,432 (16,378) 28%6,291 141
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (1,326) (1,326) n/a 12,651 (13,977)
Interest (losses) on investments 22,810 22,810 5,106 (17,704) 22%18,942 (13,836)
Miscellaneous Revenues
604-00000.00-36212.00 Miscellaneous Revenue - - - - n/a - -
604-00000.00-36231.00 PERA Pension Contributions - - - - n/a - -
604-00000.00-37901.00 Contribution (Other Fund)- - - - n/a - -
604-00000.00-37902.00 Contribution (Developers)- - - - n/a - -
Miscellaneous Revenues - - - - n/a - -
Debt Issued
604-00000.00-39310.00 G.O. Bond Proceeds 850,000 850,000 - (850,000) 0%- -
Debt Issued 850,000 850,000 - (850,000) 0%- -
Transfers in
39203.00 Transfer from Other Funds - - - - n/a - -
- - - - n/a - -
Total Revenues 3,982,340 3,982,340 496,921 (3,485,419) 12%419,245 77,676
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 355,300 355,300 88,825 266,475 25%62,830 (25,995)
41520.00 FINANCE 86,977 86,977 19,646 67,331 23%20,577 931
Total - Function General Government 442,277 442,277 108,471 333,806 25%83,407 (25,064)
Function: Sewer
49450.00 SEWER 4,019,121 4,037,156 532,186 3,504,970 13%469,965 (62,221)
Total - Function Sewer 4,019,121 4,037,156 532,186 3,504,970 13%469,965 (62,221)
Total Expenditures 4,461,398 4,479,433 640,657 3,838,776 14%553,372 (87,285)
Net Change (479,058) (497,093) (143,736) (134,127)
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance from
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 876,921 876,921 120,130 (756,791) 14%154,913 (34,783)
Storm Water Charges 876,921 876,921 120,130 (756,791) 14%154,913 (34,783)
Water Charges
602-49420.00-37160.00 Penalties - - 772 772 n/a 660 112
Water Charges - - 772 772 n/a 660 112
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 8,080 8,080 3,426 (4,654) 42%3,158 268
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (832) (832) n/a 6,236 (7,068)
Interest (losses) on investments 8,080 8,080 2,594 (5,486) 32%9,394 (6,800)
Miscellaneous Revenues
602-00000.00-36212.00 Miscellaneous Revenue - - - - n/a - -
602-00000.00-36231.00 PERA Pension Contributions - - - - n/a - -
602-00000.00-37901.00 Contribution (Other Fund)- - - - n/a - -
Miscellaneous Revenues - - - - n/a - -
Total Revenues 919,791 919,791 123,496 (796,295) 13%164,967 (41,471)
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 81,000 81,000 20,250 60,750 25%5,250 (15,000)
Total - Function General Government 81,000 81,000 20,250 60,750 25%5,250 (15,000)
Function: Water Quality
49420.00 WATER QUALITY 1,307,206 1,307,206 111,415 1,195,791 9%82,882 (28,533)
Total - Function Water Quality 1,307,206 1,307,206 111,415 1,195,791 9%82,882 (28,533)
Total Expenditures 1,388,206 1,388,206 131,665 1,256,541 9%88,132 (43,533)
Net Change (468,415) (468,415) (8,169) 76,835
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 3/31/2017
(Preliminary & Unaudited)
Variance from Variance from
2017 2017 2017 Amended Budget - % BDGT Actual from 2016
Budget Amended Actual Positive (Negative)USED 3/31/2016 Positive (Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 140,000 140,000 - (140,000) 0%- -
240-00000.00-33423.00 Market Value Credit Aid - - - - n/a - -
Taxes 140,000 140,000 - (140,000) 0%- -
Intergovernmental
240-46500.00-33610.14 County-City Aids/Grants - Operating EDA - - - - n/a - -
Intergovernmental - - - - n/a - -
Charges for Services
240-46503.00-34760.02 Facility Rental - EDA 8,500 8,500 1,692 (6,808) 20%2,180 (488)
Charges for Services 8,500 8,500 1,692 (6,808) 20%2,180 (488)
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 2,500 2,500 662 (1,838) 26%754 (92)
240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (142) (142) n/a 1,103 (1,245)
Interest (losses) on investments 2,500 2,500 520 (1,980) 21%1,857 1,337
Total Revenues 151,000 151,000 2,212 (148,788) 1%4,037 (1,825)
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 151,325 151,325 32,787 118,538 22%33,440 653
46503.00 TECH VILLAGE INCUBATOR 9,500 9,500 532 8,968 6%1,457 925
Total Expenditures 160,825 160,825 33,319 127,506 21%34,897 1,578
Net Change (9,825) (9,825) (31,107) (30,860)
COMPARATIVE