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HomeMy WebLinkAbout5(F) 2019 1st Quarter Financial Report 4646 Dakota Street SE Prior Lake, MN 55372 CITY COUNCIL AGENDA REPORT MEETING DATE: MAY 6TH 2019 AGENDA #: 5F PREPARED BY: DANIELLE AMIRA, ACCOUNTANT PRESENTER: CATHY ERICKSON, FINANCE DIRECTOR AGENDA ITEM: CONSIDER APPROVAL OF THE PRELIMINARY 1st QUARTER 2019 FINANCIAL REPORTS GOAL AREA AND OBJECTIVE: High-Value City Services 1. Establish financial stability for all funds. DISCUSSION: Introduction Staff has prepared preliminary summary financial reports (attached) as of March 31, 2019, 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 first quarter 2019. 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, 2019 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: April 25th, 2019 TO: Prior Lake City Council FROM: Cathy Erickson, Finance Director RE: Financial Report dated 03/31/2019 The financial reports presented as part of this agenda item reflect activity during the first quarter of 2019. The significant issues identified at this time are summarized below. General Fund Summary Key points for 2019: • Preliminary financial information reflects expenditures exceeding revenues by $1,469,574; This is expected since the primary funding source 1st half property tax revenue will be received in June. • Licenses and Permits are higher than this same period in 2018 by $2,000. • Charges for Services are lower than in this same period in 2018 by about $68,000. Of this total variance, Project Admin/Eng Fees and City Contract Services are lower than the same period in 2018 by about $30,000 and $25,000 respectively. The 2019 Project Admin/Eng Fee budget includes construction observation engineering work that will begin this summer, so the revenue will increase by the end of the second quarter. In 2018, the Police had higher city contracted services than in 2019 due to Super Bowl event staffing at Mystic Lake. • Miscellaneous Revenue is lower than 2018 by about $50,000. This is primarily due to less revenue for developer agreements than planned through the 1st quarter of 2019. • Expenditures are higher than the same period in 2018 due to new staff positions in Police and the new City Clerk. 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 revenue will not be reflected in the financial report until June. Building permits (single family and townhomes) were budgeted at 135 for 2019. Revenues associated with building permits and plan check fees are approximately $7,900 higher than in the 1st quarter 2018. The following table provides a breakdown of the first quarter activity by year. Year Single Family Townhomes Commercial / Industrial Other Permits Total Change from PY 2019 25 0 1 342 368 3% 2018 20 12 0 229 357 14% 2017 10 0 0 302 312 (10%) 2016 17 4 3 325 349 (16%) 2015 32 0 3 380 418 65% The first half payments were received for Municipal State Aid and the township fire agreements. First quarter Franchise fees collected in April are not included in this report. Project engineering fees are currently at 8% of its annual budget. The 2019 Project Admin/Eng. Fee budget includes construction observation engineering work that will begin this summer, so the revenue will increase by the end of the second quarter. Staff has historically used a Page 3 percentage of construction costs for estimating engineering time. In general, as the outstanding projects move forward, engineering costs charged to the projects will increase. Recreation revenues (including Park admission fees and facility rental) are slightly lower than the 1st quarter of 2018, primarily due to the decrease in facility rentals and Recreation program fees. Interest earnings are at 49% of its budget. The report also reflects a $56k increase in the fair value of the securities. As rates decreased, the market value of the existing securities has increased. This is a paper gain; no actual gain is realized because the City holds the securities until maturity. The miscellaneous revenue category includes planned developer agreement fee revenue. Staff anticipates a revenue pick up in the second quarter as developer agreements are finalized. General Fund Expenditures/Transfers General Fund expenditures for 2019 represents 20% of the $13,619,154 amended budget. The level of expenditures (as a percent of budget) is higher than the same period in 2018. Some key points related to expenditures for the 1st quarter of 2019 are: • Police Expenditures are up compared to the same time in 2018, mainly due the adding of an additional Police officer. As a reminder, the SMSC increased the payment in lieu of taxes for the Drug Task Force Officer in 2018. Additionally, for police coverage in 2019, the quarterly payment is now $132,500. • Administration expenditures in 2019 include staffing costs for the former City Manager and the current City Manager. The contract with the former City Manager ends at the end of August 2019. • Public Works & Parks expenditures are higher than 2018 due to the number of Snow related events in February, March & April requiring staff overtime, equipment use, fuel and supplies. At this point in the year, there are no other significant variances to report. 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 58% of the budget. Scheduled bond payments (interest) were made on the 1st and 15th of June. Other bond payments (principal and interest) will be due on the 1st and 15th of December. Cable Fund First quarter franchise 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 are less than compared to the same time in 2018 by $165k. Highway 13 Trail expenditures are at $177k. The expenditures are related to a cooperative agreement with State of MN, a trail along Highway 13 between Five Hawks and Anna Trail. Parks Comprehensive Master plan year to date expenditures are approximately $7,000. Interest earnings are at 49% of the budget which is higher than in 2018. Revolving Equipment Fund Property taxes, the primary funding source, are received in June, December and January (final tax settlement). Interest earnings are at 86% of the budget. The change in the fair value of the Page 4 securities is adjusted against interest earnings and is allocated to each fund based on cash balances. The approved speed sign trailer for Police was purchased in the first quarter of 2019. Vehicle and equipment purchases were approved at council meetings earlier in the year, but most of the equipment will be purchased and received in the 2nd and 3rd quarter. Facilities Management Fund The planned Police and Library facility work will be completed in the 2nd and 3rd quarter. Permanent Improvement Revolving Fund The approved street overlay project is scheduled for the 2nd quarter. Water Fund The financial report for the Water Fund reflects one billing cycle. Consumption increased slightly from 2018. Water revenues are about 3% of the 2019 budget. Operating expenditures and transfers are higher than 2018 mainly due to the ongoing water meter replacement and the Beehive software implementation. Sewer Fund The financial report for the Sewer Fund reflects one billing cycle. Consumption increased slightly from 2018. Sewer revenues are at 5% of the budget and slightly higher compared to first quarter 2018. The estimated level of discharge is reevaluated annually in conjunction with the preparation of the Capital Improvement Program. Operating expenditures and transfers for 2018 are at 18% of the approved budget. They are higher than in first quarter of 2018 mainly due to the ongoing water meter replacement and the Beehive software implementation. 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 higher than 2018 at 6% of the budget. Operational expenditures and transfers are higher than first quarter 2018 at 17% of budget. Stormwater Outlet Improvement expenditures totaled $50k. 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 22% of budget as of the first quarter end. City of Prior Lake General Fund Summary As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Taxes 8,380,973 8,380,973 - (8,380,973) 0%- - Licenses and Permits 642,118 642,118 160,318 (481,800) 25%158,330 1,988 Intergovernmental 1,861,819 1,861,819 504,445 (1,357,374) 27%459,168 45,277 Charges for Services 1,716,170 1,716,170 342,192 (1,373,978) 20%410,401 (68,210) Fines and Forfeitures - - 69 69 n/a - 69 Interest (losses) on investments 87,400 87,400 87,611 211 100%(20,923) 108,534 Other 192,739 192,739 28,932 (163,807) 15%78,663 (49,731) Transfers in 456,300 456,300 114,075 (342,225) 25%110,750 3,325 Total Revenues 13,337,519 13,337,519 1,237,641 (12,099,878) 9%1,196,389 41,252 Expenditures General Government 3,035,892 3,070,667 645,245 2,425,422 21%599,215 (46,029) Public Safety 6,158,109 6,177,309 1,276,159 4,901,150 21%1,180,185 (95,974) Public Works 2,060,778 2,060,778 448,987 1,611,791 22%307,040 (141,947) Culture and Recreation 1,964,771 1,975,631 336,825 1,638,806 17%286,857 (49,968) Transfer to other funds 334,769 334,769 - 334,769 0%- - Contingent Reserve - - - - n/a - - Total Expenditures 13,554,319 13,619,154 2,707,215 10,911,939 20%2,373,297 (333,918) Net Change (216,800) (281,635) (1,469,574) (1,176,908) COMPARATIVE City of Prior Lake General Fund Revenues As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive ( Negative)USED 3/31/2018 Positive (Negative) Taxes 101 31010.00 Current Property Taxes - General Purpos 7,460,524 7,460,524 - (7,460,524) 0%- - 101 31020.00 Delinquent Property Taxes - General Purp - - - 23,782 n/a - - 101 31040.00 Fiscal Disparities 920,449 920,449 - (920,449) 0%- - 101 33423.00 Market Value Credit Aid - - - - n/a - - Taxes 8,380,973 8,380,973 - (8,380,973) 0%- - Licenses and Permits 101 32100.00 Business Licenses 900 900 945 45 105%600 345 101 32110.00 Liquor Licenses 74,790 74,790 375 (74,415) 1%175 200 101 32160.00 Refuse Haulers 4,500 4,500 - (4,500) 0%- - 101 32180.00 Cigarette Licenses 2,250 2,250 2,295 45 102%2,250 45 101 32210.00 Building Permits 446,498 446,498 123,606 (322,892) 28%115,861 7,745 101 32211.00 Retainage Forfeiture - - - - n/a - - 101 32215.00 Mechanical Permits 50,833 50,833 16,144 (34,689) 32%18,269 (2,125) 101 32230.00 Plumbing Permits 42,658 42,658 8,497 (34,161) 20%12,189 (3,692) 101 32231.00 Sewer/Water Inspection 7,399 7,399 1,856 (5,543) 25%1,352 504 101 32232.00 Plumbing Registrations 1,200 1,200 890 (310) 74%60 830 101 32240.00 Animal Licenses 3,750 3,750 3,230 (520) 86%2,890 340 101 32260.00 Burning Permits 4,000 4,000 760 3,000 19%790 (30) 101 32270.00 Short-term Rental Fee 3,000 3,000 1,230 (1,770) 41%815 415 101 32175.00 Public Private Gathering Permit 240 240 90 (150) 38%30 60 101 32190.00 Community Event Application 100 100 400 300 400%3,050 (2,650) Licenses and Permits 642,118 642,118 160,318 (481,800) 25%158,330 1,988 Intergovernmental 101 33160.11 Fed Aids/Grants - Operating Police 17,000 17,000 - (17,000) 0%- - 101 33401.00 Local Government Aid 11,905 11,905 - (11,905) 0%- - 101 33416.01 State Aid - Police Train 10,800 10,800 - (10,800) 0%- - 101 33416.02 State Police Aid-Ins Prem 215,000 215,000 - (215,000) 0%- - 101 33417.00 State Aid - Fire Training 7,000 7,000 - (7,000) 0%- - 101 33418.00 State Road & Bridge Aid 377,209 377,209 189,404 (187,806) 50%188,105 1,299 101 33420.00 State Fire Aid-Ins. Prem.220,000 220,000 4,000 (216,000) 2%2,000 2,000 102 33422.11 State Aids/Grants - Operating Police 3,000 3,000 - (3,000) 0%- - 101 33610.11 County Aids/Grants - Operating Police - - - - n/a 10,783 (10,783) 101 33620.00 Township Fire & Resc Aid 314,136 314,136 157,068 (157,068) 50%148,280 8,789 101 33621.00 Liaison Aid 49,769 49,769 - (49,769) 0%- - 101 33631.00 Payment in Lieu of Taxes 600,000 600,000 150,000 (450,000) 25%110,000 40,000 101 33700.11 Miscellaneous Grants - Operating Police 36,000 36,000 3,974 (32,026) 11%- 3,974 Intergovernmental 1,861,819 1,861,819 504,445 (1,357,374) 27%459,168 45,277 Charges for Services 101 31810.00 Franchise Taxes 615,000 615,000 (63) (615,063) 0%- (63) 101 34103.00 Zoning & Subdivision Fees 20,857 20,857 6,697 (14,160) 32%9,190 (2,493) 101 34104.00 Plan Check Fees 277,528 277,528 75,081 (202,447) 27%69,594 5,487 101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 105 (895) 11%105 - 101 34107.00 Assessment Searches - Reports 400 400 175 (225) 44%70 105 101 34109.00 Project Admin/Eng Fees 263,000 263,000 20,888 (242,112) 8%51,110 (30,222) 101 34203.00 Accident/Warrant Reports - Reports 200 200 60 (140) 30%33 27 101 34731.00 Adult League Fees 14,000 14,000 11,845 (2,155) 85%12,623 (779) 101 34735.00 Recreation Program Fees 47,000 47,000 20,001 (26,999) 43%23,814 (3,813) 101 34735.01 Recreation Program Fees Regular 6,000 6,000 5,075 (925) 85%3,275 1,800 101 34740.00 Concessions - Park Fees 300 300 - (300) 0%- - 101 34760.01 Facility Rental - Regular 35,418 35,418 8,854 (26,564) 25%16,527 (7,672) 101 34761.00 Studio/Pavilion Rental 24,000 24,000 10,775 (13,225) 45%9,205 1,570 101 34762.00 Park Shelter Rental 42,500 45,500 30,752 (14,748) 68%25,189 5,562 101 34763.13 Facility Usage Fee (not taxable)3,000 - - - n/a - - 101 34765.01 Tower Leases 291,967 291,967 135,626 (156,341) 46%140,628 (5,003) 101 34780.00 Park Admission Fees 24,000 24,000 - (24,000) 0%- - 101 34783.00 City Contract Services 50,000 50,000 16,322 (33,679) 33%40,860 (24,539) 101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - - - n/a 8,177 (8,177) Charges for Services 1,716,170 1,716,170 342,192 (1,373,978) 20%410,401 (68,210) Fines and Forfeitures 101 35101.00 County Court Fines - - - - n/a - - 101 35104.00 Prosecution Restitution - - 69 69 n/a - 69 Fines and Forfeitures - - 69 69 n/a - 69 Interest (losses) on investments 101 36210.00 Interest Earnings 87,400 87,400 43,082 (44,318) 49%33,356 9,726 101 36215.00 Amortization - Premium/Discount - - (3,890) (3,890) n/a (8,136) 4,246 101 36226.00 Realized Inv Gain/(Loss)- - (7,853) (7,853) n/a - (7,853) 101 36225.00 Unrealized Inv.Gain(Loss)- - 56,272 56,272 n/a (46,142) 102,415 Interest (losses) on investments 87,400 87,400 87,611 211 100%(20,923) 108,534 Other Miscellaneous Revenues 101 36101.00 City Assess. Collection - - - - n/a - - 101 36102.00 County Assess. Collection 5,000 5,000 - (5,000) 0%- - 101 36211.00 Developer Agreements 158,000 158,000 10,000 (148,000) 6%64,177 (54,177) 101 36212.00 Miscellaneous Revenue 29,739 29,739 14,978 (14,761) 50%9,473 5,505 101 36230.00 Contributions & Donations - - 3,581 3,581 n/a 4,151 (570) 101 39102.00 Sale of Property - - 373 373 n/a 862 (489) Other Miscellaneous Revenues 192,739 192,739 28,932 (163,807) 15%78,663 (49,731) Other financing sources 101 39203.00 Transfer from Other Funds 456,300 456,300 114,075 (342,225) 25%110,750 3,325 Other financing sources 456,300 456,300 114,075 (342,225) 25%110,750 3,325 Total Revenues 13,337,519 13,337,519 1,237,641 (12,099,878) 9%1,196,389 41,252 COMPARATIVE City of Prior Lake General Fund Expenditures As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance from 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Function: General Government 41110.00 MAYOR & COUNCIL 71,866.00 71,866.00 16,521.07 55,345 23%14,121.19 (2,400) 41130.00 ORDINANCE 7,500.00 7,500.00 1,065.60 6,434 14%342.40 (723) 41320.00 ADMINISTRATION 436,935.00 436,935.00 145,714.73 291,220 33%102,094.85 (43,620) 41330.00 BOARDS & COMMISSIONS 11,765.00 11,765.00 2,153.00 9,612 18%0.00 (2,153) 41400.00 CITY CLERK FUNCTIONS 60,550.00 60,550.00 0.00 60,550 0%0.00 - 41410.00 ELECTIONS 0.00 0.00 57.00 (57) n/a 15.00 (42) 41520.00 FINANCE 480,310.00 496,195.00 105,350.87 390,844 21%96,806.62 (8,544) 41540.00 INTERNAL AUDITING 31,300.00 31,300.00 4,690.00 26,610 15%4,690.00 - 41550.00 ASSESSING 202,600.00 202,600.00 0.00 202,600 0%0.00 - 41610.00 LEGAL 200,000.00 200,000.00 23,309.25 176,691 12%32,985.75 9,677 41820.00 HUMAN RESOURCES 188,830.00 188,830.00 41,717.86 147,112 22%36,006.27 (5,712) 41830.00 COMMUNICATIONS 128,297.00 128,297.00 30,513.79 97,783 24%27,153.19 (3,361) 41910.00 COMMUNITY DEVELOPMENT 348,365.00 348,365.00 61,315.86 287,049 18%64,727.71 3,412 41920.00 INFORMATION TECHNOLOGY 394,650.00 413,540.00 102,248.71 311,291 25%116,412.49 14,164 41940.00 FACILITIES - CITY HALL 472,924.00 472,924.00 110,586.93 362,337 23%103,859.73 (6,727) Total - Function General Government 3,035,892 3,070,667 645,245 2,425,422 21%599,215 (46,029) Function: Public Safety 42100.00 POLICE 4,586,881.00 4,606,081.00 992,043.22 3,614,038 22%903,161.58 (88,882) 42200.00 FIRE 932,896.00 932,896.00 155,988.73 776,907 17%151,293.52 (4,695) 42400.00 BUILDING INSPECTION 599,949.00 599,949.00 123,591.75 476,357 21%121,201.73 (2,390) 42500.00 EMERGENCY MANAGEMENT 11,935.00 11,935.00 135.29 11,800 1%128.41 (7) 42700.00 ANIMAL CONTROL 26,448.00 26,448.00 4,400.00 22,048 17%4,400.00 - Total - Function Public Safety 6,158,109 6,177,309 1,276,159 4,901,150 21%1,180,185 (95,974) Function: Public Works 43050.00 ENGINEERING 373,844.00 373,844.00 64,070.55 309,773 17%62,781.85 (1,289) 43100.00 STREET 1,226,903.00 1,226,903.00 285,584.15 941,319 23%163,619.75 (121,964) 43400.00 CENTRAL GARAGE 460,031.00 460,031.00 99,332.33 360,699 22%80,638.51 (18,694) Total - Function Public Works 2,060,778 2,060,778 448,987 1,611,791 22%307,040 (141,947) Function: Culture and Recreation 45100.00 RECREATION 416,675.00 397,475.00 81,480.69 315,994 20%77,128.62 (4,352) 45200.00 PARKS 1,481,141.00 1,511,201.00 243,603.10 1,267,598 16%199,744.11 (43,859) 45500.00 LIBRARIES 66,955.00 66,955.00 11,740.88 55,214 18%9,983.82 (1,757) Total - Function Culture and Recreation 1,964,771 1,975,631 336,825 1,638,806 17%286,857 (49,968) 00000.00 Transfer to Other Funds 334,769 334,769 - 334,769 0%- - Function: Contingent Reserve 49999.00 CONTINGENT RESERVE - - - - n/a - - Total - Function Contingent Reserve - - - - n/a - - Total Expenditures 13,554,319 13,619,154 2,707,215 10,911,939 20%2,373,297 (333,918) COMPARATIVE City of Prior Lake Debt Service Funds As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Property Taxes Current Property Taxes 3,262,770.00 3,262,770.00 0.00 (3,262,770) 0%- - Special Assessments City Assess. Collections - - 17,738 17,738 n/a 40,465 (22,727) County Assess. Collection 646,901 646,901 - (646,901) 0%- - Interest (losses) on investments Interest Earnings 33,703 33,703 19,669 (14,034) 58%10,854 8,815 Unrealized Inv.Gain(Loss)- - 25,123 25,123 n/a (12,974) 38,097 Miscellaneous Revenues Miscellaneous Revenues - - - - n/a - - Other Financing Sources Transfer from Other Funds 1,131,409 1,131,409 - (1,131,409) 0%245,239 (245,239) Total Revenues 5,074,783 5,074,783 62,529 (5,012,254) 1%283,583 (221,054) Expenditures Debt Service Principal 4,193,512 4,193,512 - 4,193,512 0%- - Interest and Other 1,146,472 1,146,472 - 1,146,472 0%- - Bond Issuance Costs 5,343 5,343 - 5,343 0%1,000 1,000 Refunded Bond Escrow Pmts - - - - n/a - - Transfers to Other Funds 135,000 135,000 - 135,000 0%2,419 2,419 Total Expenditures 5,480,327 5,480,327 - 5,480,327 0%3,419 3,419 Net Change (405,544) (405,544) 62,529 280,164 COMPARATIVE City of Prior Lake Cable Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Charges for Services 210-41340.00-34304.00 PEG Access Fees 37,133 37,133 - (37,133) 0%- - Interest (losses) on investments 210-41340.00-36210.00 Interest Earnings - - 416 416 n/a 455 (39) 210-41340.00-36225.00 Unrealized Inv. Gain (Loss)- - 531 531 n/a (602) 1,133 Total Revenues 37,133 37,133 947 (36,186) 3%(146) 1,094 Expenditures Current Expenditures 210-41340.00-52400.20 Small Equipment - Technology 2,295 2,295 - 2,295 0%870 870 210-41340.00-54020.00 Software Service Contract 510 510 - 510 0%- - Capital Outlay 210-41340.00-55570.00 Machinery and Equipment 15,000 15,000 - 15,000 0%- - Total Expenditures 17,805 17,805 - 17,805 0%870 870 Net Change 19,328 19,328 947 (1,016) COMPARATIVE City of Prior Lake Capital Park Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Charges for Services 225-45200.00-34760.01 Facility Rental - Regular 24,000 24,000 6,300 (17,700) 26%6,000 300 225-45200.00-34791.00 Dedication Fees 450,000 450,000 - (450,000) 0%165,000 (165,000) Charges for Services 474,000 474,000 6,300 (467,700) 1%171,000 (164,700) Interest (losses) on investments 225-00000.00-36210.00 Interest Earnings 24,000 24,000 10,994 (13,006) 46%6,925 4,069 225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 14,118 14,118 n/a (8,816) 22,934 Interest (losses) on investments 24,000 24,000 25,112 1,112 105%(1,892) 27,004 Contributions and donations 225-00000.00-36230.00 Contributions & Donations - - - - n/a 1,725 (1,725) Contributions and donations - - - - n/a 1,725 (1,725) Total Revenues 498,000 498,000 31,412 (466,588) 6%170,833 (139,421) Expenditures 54320.00 Miscellaneous - - - - n/a - - 59203.00 Transfers to Other Funds - - - - n/a - - 53100.80 Professional Services-General 50,000 50,000 6,921 43,079 14%3,614 (3,307) 55020.00 Projects-Engineering - - 5,063 (5,063) n/a - (5,063) 55530.00 Infrastructure 420,000 420,000 177,422 242,578 42%- (177,422) Total Expenditures 470,000 470,000 189,405 280,595 40%3,614 (185,791) Net Change 28,000 28,000 (157,993) 167,219 COMPARATIVE City of Prior Lake Revolving Equipment Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Taxes 410-00000.00-31010.00 Current Property Taxes 600,000 600,000 - (600,000) 0%- - Taxes 600,000 600,000 - (600,000) 0%- - Intergovernmental 410-00000.00-33422.10 State Aids/Grants - Operating Grants - - - - n/a - - 410-00000.00-33633.20 Watershed Dist Grants/Aid-Capital Grants - - - - n/a - - Intergovernmental - - - - - - - Interest (losses) on investments 410-00000.00-36210.00 Interest Earnings 7,775 7,775 6,663 (1,112) 86%1,964 4,700 410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 7,171 7,171 n/a (2,546) 9,717 Interest (losses) on investments 7,775 7,775 13,835 6,060 178%(582) 14,417 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 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 217,600 217,600 40,000 (177,600) 18%38,750 1,250 Transfers in 217,600 217,600 40,000 (177,600) 18%38,750 1,250 OTHER FINANCING SOURCES Debt Issued 410-00000.00-39310.00 G.O. Bond Proceeds 248,960 248,960 - (248,960) 0%- - Premium on debt issued 410-43100.00-55110.00 Projects - Bond Discount/Premium - - - - n/a - - 248,960 248,960 - (248,960) 0%- - Total Revenues 1,086,335 1,086,335 53,835 (1,032,500) 5%38,168 15,667 Expenditures Public Safety Police 410-42100.00-55550.00 Vehicles 99,725 99,725 44 99,681 0%15,423 15,379 410-42100.00-55570.00 Machinery & Equipment 108,099 154,449 9,574 144,875 6%- (9,574) Fire 410-42200.00-55070.00 Projects - Bond Issuance Costs - - - - n/a - - 410-42200.00-55550.00 Vehicles 248,960 248,960 - 248,960 0%3,569 3,569 410-42200.00-55570.00 Machinery & Equipment - 364,820 - 364,820 0%- - Building Inspection 410-42100.00-55550.00 Vehicles 59,410 59,410 - 59,410 0%- - 410-42100.00-55570.00 Machinery & Equipment - - - - n/a - - Total Public Safety 516,194 927,364 9,618 917,746 1%18,992 9,374 Public Works Street 410-43100.00-55550.00 Vehicles 323,786 323,786 - 323,786 0%- - 410-43100.00-55570.00 Machinery & Equipment 99,096 99,096 - 99,096 0%- - Central Garage 410-43400.00-55550.00 Vehicles 20,000 20,000 - 20,000 0%- - Total Public Works 442,882 442,882 - 442,882 0%- - Culture and Recreation/Parks 410-45200.00-55550.00 Vehicles - - - - n/a - - 410-45200.00-55570.00 Machinery and Equipment 123,741 123,741 90,835 32,906 73%- (90,835) Total Culture & Recreation 123,741 123,741 90,835 32,906 73%- (90,835) Water 410-49400.00-55570.00 Machinery and Equipment 66,519 66,519 - 66,519 0%- - Water Quality 410-49420.00-55550.00 Vehicles - - - - n/a - - Sewer 410-49450.00-55550.00 Vehicles - - - - n/a - - Total Utility 66,519 66,519 - 66,519 0%- - Total Expenditures 1,149,336 1,560,506 100,453 1,460,053 6%18,992 (81,461) Net Change (63,001) (474,171) (46,618) 19,176 COMPARATIVE City of Prior Lake Facilities Management Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Interest (losses) on investments 440-00000.00-36210.00 Interest Earnings 4,763 4,763 2,723 (2,040) 57%2,660 63 440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 3,480 3,480 n/a (3,517) 6,997 Interest (losses) on investments 4,763 4,763 6,203 1,440 130%(857) 7,060 Transfers in 440-00000.00-39203.00 Transfer from Other Funds 94,927 94,927 23,732 (71,195) 25%14,588 9,144 Transfers in 94,927 94,927 23,732 (71,195) 25%14,588 9,144 Debt Issued 440-00000.00-39310.00 G.O. Bond Proceeds - - - - n/a - - 440-42200.00-39310.00 G.O. Bond Proceeds-FIRE - - - - n/a - - 440-42200.00-39315.00 Projects-Bond Premium - - - - n/a Debt Issued - - - - n/a - - Total Revenues 99,690 99,690 29,935 (69,755) 30%13,731 16,205 Expenditures Function: General Government 41940-55050.00 Projects Professional Svcs- FACILITIES - CITY HALL - - 10,349 (10,349) n/a 10,048 (301) 41940-55570.00 Machinery & Equipment-FACILITIES - CITY HALL - - - - n/a - - Total - Function General Government - - 10,349 (10,349) n/a 10,048 (301) Function: Public Safety 42100-55520.00 Building & Building Improvements-POLICE - - - - n/a - - 42100-55570.00 Machinery and Equipment-POLICE - - - - n/a - - 42200-55070.00 Projects-Bond Inssuance Costs-FIRE - - - - n/a - - 42200-55520.00 Projects-Publication-FIRE - - - - n/a - - 42200-55520.00 Building & Building Improvements-FIRE 67,998 67,998 - 67,998 0%(317,757) (317,757) 42200-55570.00 Machinery & Equipment-FIRE - - - - n/a 317,757 317,757 43100-55070.00 Machinery & Equipment-STREET - - - - n/a - - 43100-55110.00 Bond Discount/Premium-STREET - - - - n/a - - Total - Function Public Safety 67,998 67,998 - 67,998 0%0 0 Function: Culture and Recreation 45500.00 LIBRARIES 21,965 81,965 - 81,965 0%- - Total - Function Culture and Recreation 21,965 81,965 - 81,965 0%- - Function: Water 49400.00 Building & Building Improvements - - - - n/a - - 49400-80000.00 Transfers to Other Funds - - - - n/a - - Total - Function Culture and Recreation - - - - n/a - - Total Expenditures 89,963 149,963 10,349 139,614 7%10,048 (301) Net Change 9,727 (50,273) 19,586 3,683 COMPARATIVE City of Prior Lake Permanent Improvement Revolving Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Taxes/Special Assessments 450-00000.00-31010.00 Current Property Taxes 95,000 95,000 - (95,000) 0%- - 450-00000.00-36101.00 City Assess. Collections 230,089 230,089 5,136 (224,953) 2%3,840 1,296 450-00000.00-36102.00 County Assess. Collection - - - - n/a - - 325,089 325,089 5,136 (319,953) 2%3,840 1,296 Interest (losses) on investments 450-00000.00-36210.00 Interest Earnings 4,231 4,231 3,249 (982) 77%1,301 1,948 450-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 4,150 4,150 n/a (1,715) 5,865 Interest (losses) on investments 4,231 4,231 7,399 3,168 175%(414) 7,812 Transfers in 450-00000.00-39203.00 Transfer from Other Funds - - - - n/a - - Transfers in - - - - n/a - - Debt Issued 450-00000.00-39310.00-PIR17-000001 G.O. Bond Proceeds 490,000 490,000 - (490,000) 0 - - 450-00000.00-39310.00-PIR18-000001 G.O. Bond Proceeds - - - - n/a - - Debt Issued 490,000 490,000 - (490,000) 0%- - Total Revenues 819,320 819,320 12,535 (806,785) 2%3,427 9,108 Expenditures Function: Public Works 450-43100.00-54010.01 STREET 700,000 700,000 - 700,000 0%- - 450-43100.00-55070.00-PIR17-000001 Projects - Bond Issuance Costs - - - - n/a - - 450-43100.00-55070.00-PIR18-000001 Projects - Bond Issuance Costs - - - - n/a - - 450-43100.00-55110.00-PIR17-000001 Projects - Bond Discount/Premium - - - - n/a - - 450-43100.00-55110.00-PIR18-000001 Projects - Bond Discount/Premium - - - - n/a - - 450-43100.00-55530.00-PIR17-000001 Infrastructure - - - - n/a - - Total - Function Public Works 700,000 700,000 - 700,000 0%- - OTHER FINANCING USES Transfers out 450-80000.00-59203.00 Transfers to Other Funds 186,933 186,933 - 186,933 0%- - Total Expenditures 886,933 886,933 - 886,933 0%- - Net Change (67,613) (67,613) 12,535 3,427 COMPARATIVE City of Prior Lake Water Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Water Charges 601-49400.00-37100.00 Utility Receipts - Water 3,799,222 3,799,222 126,389 (3,672,833) 3%115,283 11,106 601-49400.00-37160.00 Penalties - - 3,367 3,367 n/a 3,970 (602) 3,799,222 3,799,222 129,756 (3,669,466) 3%119,253 10,503 Capital Facility charges 601-49400.00-37110.00 Capital Facility Revenue 272,280 272,280 25,185 (247,095) 9%24,906 279 272,280 272,280 25,185 (247,095) 9%24,906 279 Meter Sales 601-49400.00-37170.00 Water Meter Sales 74,350.00 74,350.00 17,624.61 (56,725) 24%18,777 (1,152) 601-49400.00-37175.00 Pressure Reducers 27,300.00 27,300.00 5,151.99 (22,148) 19%5,253 (101) 601-49400.00-37185.00 AMRS Brass Recycling - - 5,764 5,764 n/a - 5,764 101,650 101,650 28,541 (73,109) 28%24,030 4,511 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 - - 601-494.00-33610.10 County-City Aids/Grants-Operations - - - - n/a - - - - - - n/a - - Interest (losses) on investments 601-00000.00-36210.00 Interest Earnings 37,250 37,250 34,605 (2,645) 93%13,964 20,641 601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 44,289 44,289 n/a (18,753) 63,043 37,250 37,250 78,894 41,644 212%(4,789) 83,684 Miscellaneous Revenues 601-00000.00-36212.00 Miscellaneous Revenue - - 15 15 n/a 100 (85) 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 - - (73) (73) n/a 12 12 - - (58) (58) n/a 112 (73) Contribution of assets 601-00000.00-37901.00 Contribution (Other Fund)- - - - n/a 10,464 (10,464) 601-00000.00-37902.00 Contribution (Developers)- - - - n/a - - - - - - n/a 10,464 (10,464) Transfers in 39203.00 Transfer from Other Funds 1,900,000 1,900,000 - (1,900,000) 0%16,751 (16,751) 1,900,000 1,900,000 - (1,900,000) 0%16,751 (16,751) Sale of Assets 601-00000.00-39102.00 Sale of Property - - - - n/a - - - - - - n/a - - Debt Issued 601-49400.00-39310.00-CAP18-000001 G.O. Bond Proceeds - - - - n/a - - - - - - n/a - - Total Revenues 6,110,402 6,110,402 262,319 (5,848,083) 4%190,727 71,688 Operating Expenditures Personnel and current expenditures 41520.00 Finance 94,075 94,075 22,085 71,990 23%19,540 (2,545) 49400.00 Water 1,941,435 1,941,435 419,924 1,521,511 22%340,099 (79,825) 2,035,510 2,035,510 442,009 1,593,501 22%359,639 (82,370) Principal, Interest & other 601-49400.00-56010.00 Water 105,000 105,000 - 105,000 0%- - 601-49400.00-56110.00 Water 78,200 78,200 - 78,200 0%- - 183,200 183,200 - 183,200 0%- - Capital improvements 55530.00 Infrastructure 2,000,000 2,480,830 58,209 2,422,621 2%89,432 31,223 55570.00 Machinery and equipment 142,826 161,716 5,079 156,637 3%- (5,079) 2,142,826 2,642,546 63,288 2,579,258 2%89,432 26,144 59203.00 Transfers to other funds 895,495 895,495 87,555 807,940 10%77,060 (10,495) Total Expenditures 5,257,031 5,756,751 592,852 5,163,899 10%526,131 (66,721) Net Change 853,371 353,651 (330,533) (335,404) COMPARATIVE City of Prior Lake Sewer Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Sewer Charges 604-49450.00-37102.00 Utility Receipts - Sewer 1,932,978 1,932,978 (81,184) (2,014,162) -4%(80,552) (632) 604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,601,700 1,601,700 249,415 (1,352,286) 16%223,551 25,864 3,534,678 3,534,678 168,231 (3,366,447) 5%142,999 25,232 Capital Facility charges 604-49450.00-37110.00 Capital Facility Revenue 272,280 272,280 25,186 (247,094) 9%24,907 279 272,280 272,280 25,186 (247,094) 9%24,907 279 Water Charges 604-49450.00-37160.00 Penalties 15,000 15,000 4,922 (10,078) 33%5,322 (401) 15,000 15,000 4,922 (10,078) 33%5,322 (401) Interest (losses) on investments 604-00000.00-36210.00 Interest Earnings 18,800 18,800 11,116 (7,684) 59%5,281 5,835 604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 13,078 13,078 n/a (7,222) 20,300 18,800 18,800 24,195 5,395 129%(1,940) 26,135 Miscellaneous Revenues 604-00000.00-36231.00 PERA Pension Contributions - - - - n/a - - - - - - n/a - - Contribution of assets 604-00000.00-37901.00 Contribution (Other Fund)- - - - n/a - - 604-00000.00-37902.00 Contribution (Developers)- - - - n/a - - - - - - n/a - - Debt Issued 604-00000.00-39310.00 G.O. Bond Proceeds - - - - n/a - - - - - - n/a - - Sale of Property 604-00000.00-39310.00 Sale of Property - - - - n/a - - - - - - n/a - - Transfers in 39203.00 Transfer from Other Funds - - - - n/a 17,434 (17,434) - - - - n/a 17,434 (17,434) Total Revenues 3,840,758 3,840,758 222,533 (3,618,225) 6%188,723 33,810 Operating Expenditures Personnel and current expenditures 41520.00 Finance 91,341 91,341 22,081 69,260 24%19,538 (2,543) 49450.00 Sewer 2,564,890 2,564,890 598,864 1,966,026 23%580,747 (18,118) 2,656,231 2,656,231 620,946 2,035,285 23%600,285 (20,661) Principal, Interest & other 604-49450.00-56010.00 Sewer 105,000 105,000 - 105,000 0%- - 604-49450.00-56110.00 Sewer 78,200 78,200 - 78,200 0%- - 183,200 183,200 - 183,200 0%- - Capital improvements 55530.00 Infrastructure 400,000 880,830 59,209 821,621 7%3,999 (55,210) 55570.00 Machinery and equipment 81,832 100,722 5,079 95,643 5%- (5,079) 481,832 981,552 64,288 917,264 7%3,999 (60,289) 59203.00 Transfers to other funds 277,147 277,147 69,287 207,860 25%67,777 (1,510) Total Expenditures 3,598,410 4,098,130 754,520 3,343,610 18%672,061 (82,459) Net Change 242,348 (257,372) (531,987) (483,338) COMPARATIVE City of Prior Lake Water Quality Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Storm Water Charges 602-49420.00-37120.00 Storm Water Revenue 978,674 978,674 56,327 (922,347) 6%51,588 4,739 978,674 978,674 56,327 (922,347) 6%51,588 4,739 Water Charges 602-49420.00-37160.00 Penalties - - 778 778 n/a 882 (104) - - 778 778 n/a 882 (104) Intergovernmental 602-00000.00-33422.10 State Aids/Grants - - - - n/a - - 602-49420.00-33633.00 Watershed Dist Grants/Aid - - - - n/a - - 602-49420.00-32250.00 Wetland Application Fee - - 150 150 n/a - 150 - - 150 150 n/a - 150 Interest (losses) on investments 602-00000.00-36210.00 Interest Earnings 11,690 11,690 5,338 (6,352) 46%4,895 443 602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 6,640 6,640 n/a (6,503) 13,143 11,690 11,690 11,978 288 102%(1,608) 13,586 Contribution of assets 602-00000.00-37901.00 Contribution (Other Fund)- - - - n/a 191,303 (191,303) 602-00000.00-37902.00 Contribution (Developers)- - - - n/a - - - - - - n/a 191,303 (191,303) Transfers in 602-00000.00-39203.00 Transfer from Other Funds - - - - n/a - - - - - - n/a - - Miscellaneous Revenues 602-00000.00-36212.00 Miscellaneous Revenue - - - - n/a - - 602-00000.00-36231.00 PERA Pension Contributions - - - - n/a - - - - - - n/a - - Total Revenues 990,364 990,364 69,233 (921,131) 7%242,165 (172,932) Operating Expenditures Personnel and current expenditures 49420.00 Sewer 532,642 532,642 101,427 431,215 19%70,064 (31,363) 532,642 532,642 101,427 431,215 19%70,064 (31,363) Capital improvements 55040.00 ROW & property acquisition - - - - n/a - - 55530.00 Infrastructure 385,000 385,000 50,580 334,420 13%8,257 (42,324) 385,000 385,000 50,580 334,420 13%8,257 (42,324) 59203.00 Transfers to other funds 83,860 83,860 20,965 62,895 25%19,250 (1,715) Total Expenditures 1,001,502 1,001,502 172,972 828,530 17%97,570 (75,402) Net Change (11,138) (11,138) (103,739) 144,595 COMPARATIVE City of Prior Lake Economic Development Authority Special Revenue Fund As of 03/31/2019 (Preliminary & Unaudited) Variance from Variance 2019 2019 2019 Amended Budget - % BDGT Actual from 2018 Budget Amended Actual Positive (Negative)USED 03/31/2018 Positive (Negative) Revenues Taxes 240-00000.00-31010.00 Current Property Taxes 150,000 150,000 - (150,000) 0%- - Taxes 150,000 150,000 - (150,000) 0%- - Charges for Services 240-46503.00-34760.02 Facility Rental - EDA 7,820 7,820 2,511 (5,309) 32%3,637 (1,125) Charges for Services 7,820 7,820 2,511 (5,309) 32%3,637 (1,125) Interest (losses) on investments 240-00000.00-36210.00 Interest Earnings 3,300 3,300 3,141 (159) 95%1,206 1,936 240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 4,032 4,032 n/a (1,617) 5,649 Interest (losses) on investments 3,300 3,300 7,173 3,873 217%(411) (7,585) Transfers In 240-00000.00-39203.00 Transfer from Other Funds - - - - n/a - - Transfers In - - - - n/a - - Total Revenues 161,120 161,120 9,685 (151,435) 6%3,225 6,459 Expenditures Function: Economic Development 46500.00 ECONOMIC DEVELOPMENT 145,467 145,467 32,729 112,738 22%30,212 (2,517) 46503.00 TECH VILLAGE INCUBATOR 4,350 4,350 91 4,259 2%16 (75) 46500.00 Capital Outlay - - - - n/a (32,931) (32,931) Total Expenditures 149,817 149,817 32,820 116,997 22%(2,703) (35,523) Net Change 11,303 11,303 (23,136) 5,928 COMPARATIVE