HomeMy WebLinkAbout5I 2018 2nd Quarter Financial Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: AUGUST 6, 2018
AGENDA #: 5I
PREPARED BY: DANIELLE AMIRA, ACCOUNTANT
PRESENTER: CATHY ERICKSON, FINANCE DIRECTOR
AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 2nd QUARTER 2018
FINANCIAL REPORTS
DISCUSSION: Introduction
Staff has prepared preliminary summary financial reports (attached) as of
June 30th, 2018, for the following funds:
• General Fund
• Debt Service Funds
• Cable Fund
• Capital Park Fund
• Revolving Equipment Fund
• Facilities Management Fund
• Permanent Improvement Revolving Fund
• Water Fund
• Sewer Fund
• Water Quality Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity during second
quarter 2018. 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
June 30th, 2018 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: July 31st, 2018
TO: Prior Lake City Council
FROM: Cathy Erickson, Finance Director
RE: Financial Report dated 6/30/2018
The financial reports presented as part of this agenda item reflect activity during the second
quarter of 2018. The significant issues identified at this time are summarized below.
General Fund Summary
Key points for 2018:
• Preliminary financial information reflects revenues exceeding expenditures by
$1,458,772; This is expected since the primary funding source of property tax revenue
has been received in June.
• Charges for Services, Licenses and Permits, and Developer Agreements are higher than
in this same period in 2017. The following fees are greater than the prior year:
Approximately $178,000 for building permit and plan check fees, $29,000 for new tower
leases, and $60,000 for revenue from new developer agreements.
• Expenditures are slightly higher than the same period in 2017.
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 collected in June are
reflected in this financial report.
Single family building permits were budgeted at 105 for 2018. Revenues associated with
building permits and plan check fees are approximately $178k higher than in the 2nd quarter
2017. 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
2018 51 39 1 1117 1208 37%
2017 40 0 6 833 879 (13%)
2016 58 4 6 945 1013 (4%)
2015 61 6 23 961 1051 19%
2014 53 0 1 830 884 (23%)
Liquor License renewals occurred in June and are included in this report.
First quarter Franchise 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 currently at 43% of its annual budget. Staff has historically used a
percentage of construction costs for estimating engineering time. As the outstanding projects
move forward, engineering costs charged to the projects will increase.
Page 3
Recreation revenues (including Park admission fees and facility rental) are slightly lower than
the 2nd quarter of 2017, primarily due to the decrease in studio/pavilion rentals and Recreation
program fees.
Interest earnings are at 75% of its budget. The report also reflects a $67k decrease in the fair
value of the securities. As rates increased, the market value of the existing securities has
decreased. This is a paper loss; no actual loss is realized because the City holds the securities
until maturity.
Second quarter miscellaneous revenue includes the developer agreement fees of approximately
$50,600 for Haven Ridge South addition, $34,000 for Maple Park Shore Acres and $35,000 for
Friendship Baptist Church.
General Fund Expenditures/Transfers
General Fund expenditures for 2018 represents 44% of the $13,267,324 amended budget. The
level of expenditures (as a percent of budget) is lower than the same period in 2017. Some key
points related to expenditures for the 2ndt quarter of 2018 are:
• Transfer of $300,000 to the EDA Fund per Council Approval to facilitate economic
Development initiatives identified in the EDA business plan.
• Transfer of $148,000 to the PIR fund for the 2018 Mill & Overlay Project
• Expenditures in public safety are higher than the second quarter of 2017 due mainly to
two additional police officers hired in late 2017. As a reminder, the SMSC increased the
payment in lieu of taxes for the Drug Task Force officer and police coverage in 2018.
The total 2018 annual support from the SMSC is $510,000.
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
87% of the budget.
Scheduled bond payments were made on the 1st and 15th of June. Other bond payments will be
due on the 1st and 15th of December.
Cable Fund
Franchise are now reported in the General Fund. PEG Access Fees are at 40% of budget.
Expenditures in the second quarter include technology upgrades.
Capital Park Fund
Park Dedication Fees were received for the Haven Ridge in the 2nd quarter of 2018. Interest
earnings are at 90% of the budget which is higher than in 2017.
Revolving Equipment Fund
Property taxes, the primary funding source, are received in June, December and January (final
tax settlement). Interest earnings are at 45% 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 purchases have taken place in the second quarter of 2018. Additionally,
a Tymco 600 Sweeper was purchased for Public Works. Vehicle and equipment purchases
were approved at council meetings earlier in the year.
Page 4
Facilities Management Fund
Interest earnings are at 79% 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. 2018
project expenditures for Fire Station #1 will be complete by the end of the third quarter. The
receipt of bond proceeds will also occur in the third quarter.
Permanent Improvement Revolving Fund
Interest earnings are at 205% 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. 2018
project expenditures and the receipt of bond proceeds will occur in the third quarter.
Water Fund
The financial report for the Water Fund reflects three billing cycles. Consumption increased
slightly from 2017. Water revenues are about 34% of the 2018 budget.
Interest earnings are at 78% of the budget which is higher than the same period in 2017. 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 2017. In second quarter 2018,
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 increased
slightly from 2017. Sewer revenues are at 44% of the budget and slightly higher compared to
first quarter 2017. The estimated level of discharge is reevaluated annually in conjunction with
the preparation of the Capital Improvement Program.
Interest earnings are at 61% 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 2018 are at 29% of the approved budget. Operational budgetary
transfers for second quarter are reflected in the report.
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 higher than 2017 at 54% of the
budget.
Interest earnings are at 84% 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 second quarter 2017, due to Sand Point Beach
Maintenance. Operational budgetary transfers for second quarter are reflected in the report.
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 48% of budget as of the
second quarter end.
Page 5
If you have any questions regarding these financial reports, please contact me at 952.447.9842.
City of Prior Lake
General Fund Summary
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 3/31/2017 Positive (Negative)
Revenues
Taxes 8,006,734 8,006,734 4,731,246 (3,275,488) 59%4,224,213 507,032
Licenses and Permits 607,798 607,798 517,379 (90,419) 85%324,182 193,198
Intergovernmental 1,675,986 1,675,986 606,872 (1,069,114) 36%548,838 58,034
Charges for Services 1,702,315 1,702,315 932,910 (769,405) 55%800,439 132,471
Fines and Forfeitures - - 1,448 1,448 n/a 351 1,097
Interest (losses) on investments 86,000 86,000 (15,028) (101,028) -17%31,811 (46,839)
Other 226,945 226,945 237,254 10,309 105%182,333 54,921
Transfers in 443,000 443,000 221,500 (221,500) 50%215,000 6,500
Total Revenues 12,748,778 12,748,778 7,233,580 (5,515,198) 57%6,327,166 906,414
Expenditures
General Government 2,844,193 2,880,749 1,259,116 1,621,633 44%1,591,241 332,125
Public Safety 5,733,489 5,748,489 2,517,013 3,231,476 44%2,385,658 (131,355)
Public Works 2,063,803 2,060,129 715,720 1,344,408 35%815,287 99,567
Culture and Recreation 1,898,731 1,902,405 791,351 1,111,055 42%770,375 (20,976)
Transfer to other funds 227,552 675,552 491,609 183,943 73%249,600 (242,009)
Contingent Reserve - - - - n/a - -
Total Expenditures 12,767,768 13,267,324 5,774,808 7,492,516 44%5,812,161 37,353
Net Change (18,990) (518,546) 1,458,772 515,005
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive ( Negative)USED 6/30/2017 Positive (Negative)
Taxes
101 31010.00 Current Property Taxes - General Purpos 7,116,875 7,116,875 4,236,511 (2,880,364) 60%3,771,191 465,320
101 31040.00 Delinquent Property Taxes - General Purp - - 25,781 25,781 n/a 38,506 (12,725)
101 31040.00 Fiscal Disparities 889,859 889,859 468,953 (420,906) 53%414,516 54,437
101 33423.00 Market Value Credit Aid - - - - n/a - -
Taxes 8,006,734 8,006,734 4,731,246 (3,275,488) 59%4,224,213 507,032
Licenses and Permits
101 32100.00 Business Licenses 900 900 600 (300) 67%900 (300)
101 32110.00 Liquor Licenses 74,790 74,790 71,590 (3,200) 96%70,640 950
101 32160.00 Refuse Haulers 4,150 4,150 4,790 640 115%4,400 390
101 32170.00 Outdoor Concert Permits - - - - n/a - -
101 32180.00 Cigarette Licenses 2,500 2,500 2,250 (250) 90%2,250 -
101 32210.00 Building Permits 421,498 421,498 309,450 (112,048) 73%197,011 112,440
101 32211.00 Retainage Forfeiture - - 1,500 1,500 n/a - 1,500
101 32215.00 Mechanical Permits 47,408 47,408 59,513 12,105 126%18,029 41,484
101 32230.00 Plumbing Permits 39,983 39,983 48,408 8,425 121%19,804 28,604
101 32231.00 Sewer/Water Inspection 6,994 6,994 6,997 3 100%4,453 2,544
101 32232.00 Plumbing Registrations 1,200 1,200 686 (514) 57%750 (64)
101 32240.00 Animal Licenses 3,750 3,750 3,520 (230) 94%3,255 265
101 32260.00 Burning Permits 2,625 2,625 2,470 (155) 94%1,740 730
101 32270.00 Short-term Rental Fee 2,000 2,000 815 (1,185) 41%400 415
101 32175.00 Public Private Gathering Permit - - 390 390 n/a 500 (110)
101 32190.00 Community Event Application - - 4,400 4,400 n/a 50 4,350
Licenses and Permits 607,798 607,798 517,379 (90,419) 85%324,182 193,198
Intergovernmental
101 33160.10 Fed Aids/Grants - Operating Grants - - - - n/a - -
101 33160.11 Fed Aids/Grants - Operating Police 17,850 17,850 - (17,850) 0%2,061 (2,061)
101 33401.00 Local Government Aid 11,905 11,905 - (11,905) 0%- -
101 33416.01 State Aid - Police Train 10,600 10,600 - (10,600) 0%- -
101 33416.02 State Police Aid-Ins Prem 192,000 192,000 - (192,000) 0%1,000 (1,000)
101 33417.00 State Aid - Fire Training 7,000 7,000 4,094 (2,906) 58%9,200 (5,106)
101 33418.00 State Road & Bridge Aid 325,213 325,213 188,105 (137,108) 58%167,539 20,567
101 33420.00 State Fire Aid-Ins. Prem.215,000 215,000 2,000 (213,000) 1%- 2,000
101 33422.10 State Aids/Grants - Operating Grants - - - - n/a - -
102 33422.11 State Aids/Grants - Operating Police 3,850 3,850 - (3,850) 0%- -
101 33610.11 County Aids/Grants - Operating Police - - 14,393 14,393 n/a - 14,393
101 33620.00 Township Fire & Resc Aid 297,775 297,775 148,280 (149,496) 50%149,038 (759)
101 33621.00 Liaison Aid 48,793 48,793 - (48,793) 0%- -
100 33630.00 Metro Council Grants - - - - n/a - -
101 33631.00 Payment in Lieu of Taxes 510,000 510,000 250,000 (260,000) 49%220,000 30,000
101 33700.11 Miscellaneous Grants - Operating Police 36,000 36,000 - (36,000) 0%- -
101 33700.23 Miscellaneous Grants - Capital Parks - - - - n/a - -
Intergovernmental 1,675,986 1,675,986 606,872 (1,069,114) 36%548,838 58,034
Charges for Services
101 31810.00 Franchise Taxes 615,000 615,000 155,104 (459,896) 25%154,101 1,003
101 34103.00 Zoning & Subdivision Fees 20,650 20,650 24,132 3,482 117%35,861 (11,728)
101 34104.00 Plan Check Fees 255,028 255,028 171,937 (83,091) 67%106,784 65,152
101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 475 (525) 48%270 205
101 34107.00 Assessment Searches - Reports 400 400 340 (60) 85%60 280
101 34109.00 Project Admin/Eng Fees 236,000 236,000 100,470 (135,530) 43%97,801 2,669
101 34203.00 Accident/Warrant Reports - Reports 200 200 78 (122) 39%80 (2)
101 34304.00 PEG Access Fees - - - - n/a - -
101 34731.00 Softball Fees 13,000 13,000 14,246 1,246 110%14,573 (327)
101 34735.00 Recreation Program Fees 47,000 47,000 35,650 (11,350) 76%38,903 (3,253)
101 34735.01 Recreation Program Fees Regular - - 6,459 6,459 n/a - 6,459
101 34740.00 Concessions - Park Fees - - 365 365 n/a 946 (581)
101 34760.01 Facility Rental - Regular 74,941 74,941 31,650 (43,291) 42%38,549 (6,898)
101 34761.00 Studio/Pavilion Rental 18,000 18,000 13,554 (4,446) 75%19,430 (5,876)
101 34762.00 Park Shelter Rental 42,500 42,500 44,161 1,661 104%33,222 10,938
101 34763.13 Facility Usage Fee (not taxable)3,000 3,000 - (3,000) 0%- -
101 34765.01 Tower Leases 277,596 277,596 243,566 (34,030) 88%214,475 29,091
101 34780.00 Park Admission Fees 39,000 39,000 11,121 (27,879) 29%5,850 5,271
101 34783.00 City Contract Services 59,000 59,000 73,503 14,503 125%30,017 43,486
101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - 6,098 6,098 n/a 9,517 (3,419)
Charges for Services 1,702,315 1,702,315 932,910 (769,405) 55%800,439 132,471
Fines and Forfeitures
101 35101.00 County Court Fines - - 1,000 1,000 n/a 100 900
101 35104.00 Prosecution Restitution - - 448 448 n/a 251 197
Fines and Forfeitures - - 1,448 1,448 n/a 351 1,097
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive ( Negative)USED 6/30/2017 Positive (Negative)
COMPARATIVE
Interest (losses) on investments
101 36210.00 Interest Earnings 86,000 86,000 64,717 (21,283) 75%41,432 23,285
101 36215.00 Amortization - Premium/Discount - - (12,471) (12,471) n/a - (12,471)
101 36225.00 Unrealized Inv.Gain(Loss)- - (67,274) (67,274) n/a (9,621) (57,653)
Interest (losses) on investments 86,000 86,000 (15,028) (101,028) -17%31,811 (46,839)
Other Miscellaneous Revenues
101 36101.00 City Assess. Collection - - - - n/a 17,482 (17,482)
101 36102.00 County Assess. Collection 2,500 2,500 1,979 (521) 79%2,128 (149)
101 36211.00 Developer Agreements 195,000 195,000 199,844 4,844 102%140,116 59,728
101 36212.00 Miscellaneous Revenue 29,445 29,445 18,441 (11,004) 63%13,419 5,021
101 36230.00 Contributions & Donations - - 14,994 14,994 n/a 5,747 9,247
101 39102.00 Sale of Property - - 1,997 1,997 n/a 3,440 (1,443)
Other Miscellaneous Revenues 226,945 226,945 237,254 10,309 105%182,333 54,921
Other financing sources
101 39310.00 G.O. Bond Proceeds - - - - n/a - -
101 39203.00 Transfer from Other Funds 443,000 443,000 221,500 (221,500) 50%215,000 6,500
Other financing sources 443,000 443,000 221,500 (221,500) 50%215,000 6,500
Total Revenues 12,748,778 12,748,778 7,233,580 (5,515,198) 57%6,327,166 906,414
City of Prior Lake
General Fund Expenditures
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance from
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Function: General Government
41110.00 MAYOR & COUNCIL 58,196 58,196 28,966 29,230 50%36,388 7,422
41130.00 ORDINANCE 7,500 7,500 3,540 3,960 47%3,010 (529)
41320.00 ADMINISTRATION 428,305 436,970 206,702 230,268 47%203,325 (3,378)
41330.00 BOARDS & COMMISSIONS 10,689 10,689 3,833 6,856 36%5,629 1,796
41410.00 ELECTIONS 23,984 23,984 86 23,898 0%- (86)
41520.00 FINANCE 464,052 464,052 202,231 261,821 44%210,936 8,705
41530.00 ACCOUNTING - - - - n/a - -
41540.00 INTERNAL AUDITING 30,700 30,700 23,140 7,560 75%23,090 (50)
41550.00 ASSESSING 194,700 194,700 - 194,700 0%185,000 185,000
41610.00 LEGAL 212,000 212,000 77,201 134,799 36%105,098 27,898
41820.00 HUMAN RESOURCES 184,443 184,443 77,749 106,694 42%103,840 26,092
41830.00 COMMUNICATIONS 124,717 124,717 54,172 70,545 43%51,742 (2,430)
41910.00 COMMUNITY DEVELOPMENT 326,475 326,475 141,884 184,591 43%163,314 21,430
41920.00 INFORMATION TECHNOLOGY 317,145 345,036 191,827 153,209 56%202,022 10,195
41940.00 FACILITIES - CITY HALL 461,287 461,287 247,785 213,502 54%297,846 50,061
Total - Function General Government 2,844,193 2,880,749 1,259,116 1,621,633 44%1,591,241 332,125
Function: Public Safety
42100.00 POLICE 4,172,825 4,172,825 1,900,072 2,272,753 46%1,754,482 (145,590)
42200.00 FIRE 929,460 944,460 301,967 642,493 32%301,705 (262)
42400.00 BUILDING INSPECTION 593,926 593,926 303,624 290,302 51%309,687 6,064
42500.00 EMERGENCY MANAGEMENT 10,830 10,830 350 10,480 3%8,784 8,434
42700.00 ANIMAL CONTROL 26,448 26,448 11,000 15,448 42%11,000 -
Total - Function Public Safety 5,733,489 5,748,489 2,517,013 3,231,476 44%2,385,658 (131,355)
Function: Public Works
43050.00 ENGINEERING 466,739 463,065 151,877 311,188 33%157,925 6,048
43100.00 STREET 1,175,385 1,175,385 390,029 785,356 33%460,464 70,435
43400.00 CENTRAL GARAGE 421,679 421,679 173,814 247,865 41%196,899 23,084
Total - Function Public Works 2,063,803 2,060,129 715,720 1,344,408 35%815,287 99,567
Function: Culture and Recreation
45100.00 RECREATION 427,696 427,696 192,102 235,594 45%166,093 (26,009)
45200.00 PARKS 1,407,937 1,411,611 574,174 837,438 41%574,889 715
45500.00 LIBRARIES 63,098 63,098 25,075 38,023 40%29,393 4,318
46100.00 NATURAL RESOURCES - - - - n/a - -
Total - Function Culture and Recreation 1,898,731 1,902,405 791,351 1,111,055 42%770,375 (20,976)
00000.00 Transfer to Other Funds 227,552 675,552 491,609 183,943 73%249,600 (242,009)
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE - - - - n/a - -
Total - Function Contingent Reserve - - - - n/a - -
Total Expenditures 12,767,768 13,267,324 5,774,808 7,492,516 44%5,812,161 37,353
COMPARATIVE
City of Prior Lake
Debt Service Funds
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Property Taxes
Current Property Taxes 3,142,620 3,142,620 1,514,952 (1,627,668) 48%1,354,085 160,867
Special Assessments
City Assess. Collections - - 380,818 380,818 n/a 667,408 (286,590)
County Assess. Collection 586,355 586,355 - (586,355) 0%- -
Interest (losses) on investments
Interest Earnings 30,491 30,491 26,565 (3,926) 87%83,869 (57,304)
Unrealized Inv.Gain(Loss)- - (23,080) (23,080) n/a (51,075) 27,995
Miscellaneous Revenues
Miscellaneous Revenues - - - - n/a - -
Other Financing Sources
Transfer from Other Funds 870,365 870,365 133,895 (736,470) 15%218,694 (84,799)
Bond Proceeds - - - - n/a - -
Total Revenues 4,629,831 4,629,831 2,033,150 (2,596,681) 44%2,272,980 (239,831)
Expenditures
Debt Service
Principal 3,953,016 3,953,016 128,328 3,824,688 3%275,651 147,323
Interest and Other 938,256 938,256 493,046 445,210 53%601,610 108,564
Bond Issuance Costs 4,728 4,728 - 4,728 0%- -
Bond Discount/Premium - - - - n/a - -
Total Expenditures 4,896,000 4,896,000 621,374 4,274,626 13%877,261 255,887
Net Change (266,169) (266,169) 1,411,776 1,395,719
COMPARATIVE
City of Prior Lake
Cable Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 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 32,000 32,000 12,898 (19,102) 40%13,016 (118)
Interest (losses) on investments
210-41340.00-36210.00 Interest Earnings - - 970 970 n/a - 970
210-41340.00-36225.00 Unrealized Inv. Gain (Loss)- - (948) (948) n/a - (948)
Total Revenues 32,000 32,000 12,920 (19,080) 40%13,016 (96)
Expenditures
Current Expenditures
210-41340.00-52400.20 Small Equipment - Technology - - 982 (982) n/a - 982
Capital Outlay
210-41340.00-55530.00 Infrastructure - - - - n/a - -
210-41340.00-55570.00 Machinery and Equipment 80,000 80,000 - 80,000 0%- -
Total Expenditures 80,000 80,000 982 79,018 1%- 982
Net Change (48,000) (48,000) 11,937 13,016
COMPARATIVE
City of Prior Lake
Capital Park Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental - Regular 24,000 24,000 12,000 (12,000) 50%14,000 (2,000)
225-45200.00-34791.00 Dedication Fees 405,000 405,000 386,250 (18,750) 95%416,308 (30,058)
Charges for Services 429,000 429,000 398,250 (30,750) 93%430,308 (32,058)
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 17,000 17,000 15,259 (1,741) 90%6,436 8,823
225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (14,404) (14,404) n/a (1,593) (12,811)
Interest (losses) on investments 17,000 17,000 855 (16,145) 5%4,843 (3,988)
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 4,050 4,050 n/a 3,200 850
Contributions and donations - - 4,050 4,050 n/a 3,200 850
Total Revenues 446,000 446,000 403,155 (42,845) 90%438,351 (35,196)
Expenditures
54320.00 Miscellaneous 3,700 3,700 - 3,700 0%- -
59203.00 Transfers to Other Funds - - - - n/a 21,052 21,052
53100.80 Professional Services-General - - 3,614 (3,614) n/a - (3,614)
55530.00 Infrastructure - - - - n/a 6,949 6,949
Total Expenditures 3,700 3,700 3,614 86 98%28,001 24,387
Net Change 442,300 442,300 399,541 410,350
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 550,000 550,000 215,897 (334,103) 39%192,972 22,925
Taxes 550,000 550,000 215,897 (334,103) 39%192,972 22,925
Intergovernmental
410-00000.00-33422.10 State Aids/Grants - Operating Grants 30,000 30,000 - (30,000) 0%- -
410-00000.00-33633.20 Watershed Dist Grants/Aid-Capital Grants - - 10,000 10,000 n/a - 10,000
Intergovernmental 30,000 30,000 10,000 (20,000) - - 10,000
Interest (losses) on investments
410-00000.00-36210.00 Interest Earnings 6,000 6,000 2,718 (3,282) 45%3,769 (1,050)
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (3,080) (3,080) n/a (741) (2,339)
Interest (losses) on investments 6,000 6,000 (361) (6,361) -6%3,028 (3,389)
Sale of assets
410-00000.00-39102.00 Sale of Property - - 13,170 13,170 n/a - 13,170
Sale of assets - - 13,170 13,170 n/a - 13,170
Other
410-42100.06-39104.00 Forfeiture Property Sales 12,000 12,000 - (12,000) 0%- -
Other 12,000 12,000 - (12,000) 0%- -
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 155,000 155,000 77,500 (77,500) 50%170,500 (93,000)
Transfers in 155,000 155,000 77,500 (77,500) 50%170,500 (93,000)
OTHER FINANCING SOURCES
Debt Issued
410-00000.00-39310.00 G.O. Bond Proceeds 665,000 665,000 - (665,000) 0%- -
Premium on debt issued
410-43100.00-55110.00 Projects - Bond Discount/Premium - - - - n/a - -
665,000 665,000 - (665,000) 0%- -
Total Revenues 1,418,000 1,418,000 316,206 (1,101,794) 22%366,500 (50,294)
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 191,690 191,690 133,204 58,486 69%72,788 (60,417)
410-42100.00-55570.00 Machinery & Equipment 46,350 46,350 - 46,350 0%- -
410-42100.06-54350.00 Agency Forfeit Proceeds - - - - n/a - -
Fire
410-42200.00-55550.00 Vehicles 678,770 678,770 34,491 644,279 5%- (34,491)
410-42200.00-55570.00 Machinery & Equipment - - - - n/a - -
Total Public Safety 916,810 916,810 167,696 749,114 18%72,788 (94,908)
Public Works
Street
410-43100.00-55550.00 Vehicles - - - - n/a 12,374 12,374
410-43100.00-55570.00 Machinery & Equipment - - - - n/a - -
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 1,106 18,894 6%13,053 11,947
Total Public Works 20,000 20,000 1,106 18,894 6%25,427 24,321
Culture and Recreation
410-45200.00-55550.00 Vehicles 218,154 218,154 27,947 190,207 13%110,650 82,703
410-45200.00-55570.00 Machinery and Equipment 18,849 18,849 3,711 15,138 20%73,157 69,446
Total Culture & Recreation 237,003 237,003 31,658 205,345 13%183,807 152,150
Water
410-49400.00-55550.00 Vehicles - - - - n/a - -
410-49400.00-55570.00 Machinery and Equipment 10,094 10,094 10,464 (370) 104%- (10,464)
Water Quality
410-49420.00-55550.00 Vehicles 210,120 210,120 191,303 18,817 91%- (191,303)
Sewer
410-49450.00-55550.00 Vehicles - - - - n/a 1,064 1,064
Total Utility 220,214 220,214 201,768 18,446 92%1,064 (200,704)
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 1,394,027 1,394,027 402,228 991,799 29%283,086 (119,141)
Net Change 23,973 23,973 (86,021) 83,414
COMPARATIVE
City of Prior Lake
Facilities Management Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Interest (losses) on investments
440-00000.00-36210.00 Interest Earnings 5,400 5,400 4,273 (1,127) 79%4,987 (714)
440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (5,163) (5,163) n/a (1,172) (3,991)
Interest (losses) on investments 5,400 5,400 (890) (6,290) -16%3,815 (4,705)
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 58,350 58,350 29,175 (29,175) 50%28,325 850
Transfers in 58,350 58,350 29,175 (29,175) 50%28,325 850
Debt Issued
440-00000.00-39310.00 G.O. Bond Proceeds 620,000 620,000 - (620,000) 0%370,000 (370,000)
Debt Issued 620,000 620,000 - (620,000) 0%370,000 370,000
Total Revenues 683,750 683,750 28,285 (655,465) 4%402,140 366,145
Expenditures
Function: General Government
00000.00 Transfers to Other Funds - - - - n/a 10,307 10,307
41940.00 FACILITIES - CITY HALL - - 10,048 (10,048) n/a - (10,048)
41960.00 GESP - - - - n/a - -
Total - Function General Government - - 10,048 (10,048) n/a 10,307 259
Function: Public Safety
42100.00 POLICE 8,000 8,000 - 8,000 0%- -
42200.00 FIRE 843,204 843,204 339,457 503,747 40%9,505 (329,952)
43100-55070 STREET - 7,472
43100-55110 STREET - (9,913)
Total - Function Public Safety 851,204 851,204 339,457 511,747 40%7,064 (332,394)
Function: Culture and Recreation
45100.00 RECREATION - - - - n/a - -
45500.00 LIBRARIES - 79,961 - 79,961 0%- -
Total - Function Culture and Recreation - 79,961 - 79,961 0%- -
Function: Water
49400.00 Building & Building Improvements 22,500 22,500 1,995 20,505 9%- (1,995)
Total - Function Culture and Recreation 22,500 22,500 1,995 20,505 9%- (1,995)
Total Expenditures 873,704 953,665 351,500 602,165 37%17,371 (334,129)
Net Change (189,954) (269,915) (323,215) 384,769
COMPARATIVE
City of Prior Lake
Permanent Improvement Revolving Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Special Assessments
450-00000.00-36101.00 City Assess. Collections - - 5,760 5,760 n/a - 5,760
450-00000.00-36102.00 County Assess. Collection 83,314 83,314 24,169 (59,145) 29%- 24,169
83,314 83,314 29,929 (53,385) 36%- 29,929
Interest (losses) on investments
450-00000.00-36210.00 Interest Earnings 1,538 1,538 3,153 1,615 205%348 2,805
450-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,711) (2,711) n/a (198) (2,513)
Interest (losses) on investments 1,538 1,538 441 (1,097) 29%149 292
Transfers in
450-00000.00-39203.00 Transfer from Other Funds - 148,000 148,000 - 100%- 148,000
Transfers in - 148,000 148,000 - 100%- 148,000
Debt Issued
450-00000.00-39310.00 G.O. Bond Proceeds 600,000 600,000 - (600,000) 0%355,000 (355,000)
Debt Issued 600,000 600,000 - (600,000) 0%355,000 355,000
Total Revenues 684,852 832,852 178,371 (654,481) 21%355,149 533,221
Expenditures
Function: Public Works
43100.00 STREET 650,000 650,000 - 650,000 0%- -
450-43100.00-55070.00-PIR17-000001 Projects - Bond Issuance Costs - - - - n/a 7,169 7,169
450-43100.00-55110.00-PIR17-000001 Projects - Bond Discount/Premium - - - - n/a (9,601) (9,601)
Total - Function Public Works 650,000 650,000 - 650,000 0%(2,432) (2,432)
OTHER FINANCING USES
Transfers out
450-80000.00-59203.00 Transfers to Other Funds 75,374 75,374 6,824 68,550 9%- (6,824)
Total Expenditures 725,374 725,374 6,824 718,550 1%(2,432) (9,256)
Net Change (40,522) 107,478 171,547 357,582
COMPARATIVE
City of Prior Lake
Water Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 3,691,044 3,691,044 1,244,375 (2,446,669) 34%1,197,429 46,946
601-49400.00-37160.00 Penalties - - 9,770 9,770 n/a 7,415 2,355
Water Charges 3,691,044 3,691,044 1,254,145 (2,436,899) 34%1,204,844 49,301
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 268,680 268,680 131,028 (137,652) 49%129,854 1,175
Capital Facility charges 268,680 268,680 131,028 (137,652) 49%129,854 1,175
Meter Sales
601-49400.00-37170.00 Water Meter Sales 82,750 82,750 49,401 (33,349) 60%27,318 22,083
601-49400.00-37175.00 Pressure Reducers 32,700 32,700 15,576 (17,124) 48%6,908 8,668
601-49400.00-37180.00 Frost Plates - - - - n/a - -
Meter Sales 115,450 115,450 64,977 (50,473) 56%34,226 30,751
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 35,900 35,900 28,171 (7,729) 78%21,605 6,566
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (28,632) (28,632) n/a (4,446) (24,186)
Interest (losses) on investments 35,900 35,900 (461) (36,361) -1%17,159 (17,620)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 625 625 n/a 235 390
601-00000.00-36102.00 County Assess Collection - - 26,874 26,874 n/a 78 26,797
601-00000.00-36231.00 PERA Pension Contributions - - - - n/a - -
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 14 14 n/a 74 (60)
601-00000.00-37901.00 Contribution (Other Fund)- - - - n/a - -
601-00000.00-37902.00 Contribution (Developers)- - - - n/a - -
Miscellaneous Revenues - - 27,514 27,514 n/a 386 27,127
Transfers in
39203.00 Transfer from Other Funds 1,500,000 1,500,000 - (1,500,000) 0%- -
1,500,000 1,500,000 - (1,500,000) 0%- -
Debt Issued
601-00000.00-39310.00 G.O. Bond Proceeds 1,180,000 1,180,000 - (1,180,000) 0%- -
Debt Issued 1,180,000 1,180,000 - (1,180,000) 0%- -
Total Revenues 6,791,074 6,791,074 1,477,203 (5,313,871) 22%1,386,469 90,734
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 845,545 845,545 237,583 607,962 28%334,792 97,209
41520.00 FINANCE 82,682 82,682 41,618 41,064 50%39,146 (2,472)
Total - Function General Government 928,227 928,227 279,201 649,026 30%373,938 94,737
Function: Water
49400.00 WATER 5,731,297 5,732,570 1,095,296 4,637,274 19%772,903 (322,393)
Total - Function Water 5,731,297 5,732,570 1,095,296 4,637,274 19%772,903 (322,393)
Total Expenditures 6,659,524 6,660,797 1,374,497 5,286,300 21%1,146,841 (227,657)
Net Change 131,550 130,277 102,705 239,628
COMPARATIVE
City of Prior Lake
Sewer Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 1,664,040 1,664,040 732,752 (931,288) 44%671,846 60,906
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,511,220 1,511,220 663,134 (848,086) 44%639,538 23,595
Sewer Charges 3,175,260 3,175,260 1,395,886 (1,779,374) 44%1,311,384 84,502
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 268,680 268,680 131,031 (137,649) 49%129,857 1,174
Capital Facility charges 268,680 268,680 131,031 (137,649) 49%129,857 1,174
Water Charges
604-49450.00-37160.00 Penalties 10,000 10,000 11,125 1,125 111%8,265 2,860
Water Charges 10,000 10,000 11,125 1,125 111%8,265 2,860
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 18,500 18,500 11,328 (7,172) 61%12,186 (858)
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (11,546) (11,546) n/a (2,462) (9,084)
Interest (losses) on investments 18,500 18,500 (218) (18,718) -1%9,724 (9,942)
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 1,400,000 1,400,000 - (1,400,000) 0%- -
Debt Issued 1,400,000 1,400,000 - (1,400,000) 0%- -
Transfers in
39203.00 Transfer from Other Funds - - - - n/a - -
- - - - n/a - -
Total Revenues 4,872,440 4,872,440 1,537,824 (3,334,616) 32%1,459,230 78,594
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 271,109 271,109 135,555 135,555 50%209,976 74,422
41520.00 FINANCE 82,682 82,682 41,061 41,621 50%37,999 (3,062)
Total - Function General Government 353,791 353,791 176,616 177,175 50%247,975 71,360
Function: Sewer
49450.00 SEWER 4,389,176 4,418,451 1,224,576 3,193,875 28%1,073,271 (151,305)
Total - Function Sewer 4,389,176 4,418,451 1,224,576 3,193,875 28%1,073,271 (151,305)
Total Expenditures 4,742,967 4,772,242 1,401,191 3,371,051 29%1,321,246 (79,945)
Net Change 129,473 100,198 136,633 137,984
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance from
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 916,326 916,326 493,474 (422,852) 54%439,666 53,808
Storm Water Charges 916,326 916,326 493,474 (422,852) 54%439,666 53,808
Water Charges
602-49420.00-37160.00 Penalties - - 2,031 2,031 n/a 1,721 310
Water Charges - - 2,031 2,031 n/a 1,721 310
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants - - - - n/a - -
602-00000.00-33422.10 State Aids/Grants - - - - n/a - -
602-49420.00-33610.20 County-City Aids/Grants - - - - n/a - -
602-49420.00-33633.00 Watershed Dist Grants/Aid - 130,000 130,000 - 100%- 130,000
602-49420.00-32250.00 Wetland Application Fee - - 300 300 n/a - 300
Intergovernmental - 130,000 130,300 300 100%- 130,300
Interest (losses) on investments
602-00000.00-36210.00 Interest Earnings 12,000 12,000 10,024 (1,976) 84%7,354 2,670
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (10,249) (10,249) n/a (1,667) (8,582)
Interest (losses) on investments 12,000 12,000 (225) (12,225) -2%5,688 (5,912)
Transfers in
602-00000.00-39203.00 Transfer from Other Funds - - - - n/a 42,093 (42,093)
Transfers in - - - - n/a 42,093 (42,093)
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 928,326 1,058,326 625,580 (432,746) 59%489,168 136,412
Expenditures
Function: General Government
00000.00 Transfers to Other Funds 77,000 77,000 38,500 38,500 50%40,500 2,000
Total - Function General Government 77,000 77,000 38,500 38,500 50%40,500 2,000
Function: Water Quality
49420.00 WATER QUALITY 921,669 1,218,120 551,749 666,371 45%222,417 (329,331)
Total - Function Water Quality 921,669 1,218,120 551,749 666,371 45%222,417 (329,331)
Total Expenditures 998,669 1,295,120 590,249 704,871 46%262,917 (327,331)
Net Change (70,343) (236,794) 35,331 226,250
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 6/30/2018
(Preliminary & Unaudited)
Variance from Variance from
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 6/30/2017 Positive (Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 140,000 140,000 77,024 (62,976) 55%71,957 5,067
240-00000.00-33423.00 Market Value Credit Aid - - - - n/a - -
Taxes 140,000 140,000 77,024 (62,976) 55%71,957 5,067
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 7,820 7,820 4,630 (3,190) 59%3,743 888
Charges for Services 7,820 7,820 4,630 (3,190) 59%3,743 888
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 2,700 2,700 3,327 627 123%1,336 1,991
240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,562) (2,562) n/a (297) (2,264)
Interest (losses) on investments 2,700 2,700 766 (1,934) 28%1,039 273
Transfers In
240-00000.00-39203.00 Transfer from Other Funds - 300,000 300,000 - 100%- 300,000
Transfers In - 300,000 300,000 - 100%- (300,000)
Total Revenues 150,520 450,520 382,420 (68,100) 85%76,739 305,681
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 145,777 145,777 73,367 72,410 50%49,207 (24,160)
46503.00 TECH VILLAGE INCUBATOR 7,820 7,820 101 7,719 1%1,092 992
Total Expenditures 153,597 153,597 73,467 80,130 48%50,299 (23,168)
Net Change (3,077) 296,923 308,952 26,439
COMPARATIVE