HomeMy WebLinkAbout1(B) Work Session Long Range Financial Planning Report
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL WORKSHOP REPORT
MEETING DATE:
AGENDA ITEM:
MAY 20, 2019
B
PREPARED BY: MICHAEL PLANTE, CITY MANAGER
CATHY ERICKSON, FINANCE DIRECTOR
PRESENTED BY: CATHY ERICKSON
TOPIC: LONG-RANGE FINANCIAL PLANNING
DISCUSSION: Introduction
The purpose of this workshop item is to provide information to the Council on six
topics which, when taken together, represent our long term financial planning:
1) General Fund 2018 year-end results
2) Tax Levy Impacts
3) Five-year property tax projection assumptions
4) 2019-2023 CIP and Debt Impacts
5) Service Impacts
6) 2020 Preliminary Budget
To prepare the 5-year property tax projections, 2020 preliminary budget and 2020-
2024 CIP the staff has made numerous assumptions which we will identify in the
presentation. For this session to be most effective, we are asking that the city council
discuss the assumptions and identify which you support. For those that are not
supported by the city council, the staff will remove them from these documents and
share the results in subsequent meetings.
Does the Council support the following planning assumptions?
• Maintain the 2020 tax rate equal to 2019 tax rate
• Maintain the General Fund balance at 46%
• Add one FTE per year based on the preliminary personnel plan
• Include technology expenditures, debt service, and CIP funding as
identified in the five-year capital improvement program
History
The updated Budget/CIP Adoption Schedule calls for Budget/CIP related work
sessions on June 17(Budget/CIP), July 15(CIP) and September 3 (Preliminary 2020
Budget/Tax Levy Discussion). As a reminder, the preliminary 2020 budget/tax
levy discussion work session has been changed to September 3 (previously
scheduled for August 19). An updated budget schedule is included as
attachment 1.
The budget process typically begins with preliminary yearend results, a discussion of
the factors which impact the property tax levy, and a review of a five-year tax
projection.
Current Circumstances
Page 2
1. General Fund 2018 Year-End
On April 15, staff prepared a workshop report detailing the preliminary 2018 results.
There have been no changes between the preliminary and final 2018 results. A
copy of April 15 work session report is included as Attachment 2. A summary of the
year-end results is shown below.
The following chart provides a summary of the changes in revenues and
expenditures for 2018 and the impact on the fund balance:
The 2019 amended budget includes the use of reserves for one-time purchases as
follows:
The following table shows the impact on the General Fund reserve balance at year
ending 12/31/2018:
The Comprehensive Financial Management Plan (CFMP) establishes the goal of
maintaining a General Fund unrestricted fund balance of 40-50% of projected
expenditures for the subsequent year. The policy recognizes that this need could
2018 Yr End
Revenues/Transfers In $ 13,639,287
Expenditures/Transfers Out 13,115,121
Excess/(Deficiency) of revenues over expenditures $ 524,166
One time City Mgr severance funding $ 100,000
Phone system replacement 75,000
Salt/Ice Management replenishment due to significant 2017-2018
snow events 41,800
Subtotal 2019 budget planned use of reserves 216,800
2019 budget carryforward/budget amendments for Police
equipment, Public Works asset management software and
Finance professional services
64,835
Total 2019 Assigned Use of Funds $ 281,635
2019 Assigned Use of Funds
General Fund Balance - Beginning of Year, as previously reported $ 6,840,928
Prior period adjustment (151,692)
General Fund Balance - Beginning of year, as restated 6,689,236
2018 excess (deficiency) of revenues over expenditures 524,166
General Fund Balance - End of Year 7,213,402
2018 Assigned Use of Funds (281,635)
12/31/2018 Unrestricted General Fund Balance $ 6,931,767
2018 Unrestricted Fund Balance as a % of 2019 Expenditures 51%
2018 Unrestricted Fund Balance
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fluctuate with each year’s budget objectives and appropriations such as large capital
expenditures and variations in the collections of revenues.
The above chart shows the General Fund reserves slightly higher than the range
recommended in the CFMP.
Staff does not recommend using the reserve balance to fund current operations as
fund balance is rebuilt through 1) tax levy and/or 2) actual results favorable to
budget.
2. Tax Levy Impacts
When developing the tax levy and financial plan for the city, staff is providing both
tax levy and tax rate information to the Council to aid in their understanding of the
impact of growth and market value changes on the tax rate.
The city property tax calculation is comprised of two tax rates
• Tax Capacity Rate: The city’s general tax levy is spread across city
properties based on property tax capacity
• Market Value Tax Rate: The city’s market value tax levy is spread
across city properties based on property market value.
As shown in the table below, as the city has grown, it has added tax capacity through
new construction and market value changes. A tool for funding city costs is to
adjust the tax levy to capture the growth in tax capacity from new construction
and market value changes. By doing this, the city can increase the tax levy
dollars, but maintain the tax rate applied to an individual property. See below
for 2019 actuals and 2020 proposed tax levy and tax rate calcs.
As shown in the property tax calculation formulas above, the ability to levy and
collect taxes is based on property market values, tax capacities and the City tax
rates.
The table below shows 2018 and 2019 history and a projection for 2020.
City of Prior Lake City Tax Rate Calc:
2019:2020:
$11,623,000 Tax Levy $12,743,000 Tax Levy
$35,2000,000 Net Tax Capacity $38,593,000 Net Tax Capacityequals33% City
Tax Rate equals 33% City
Tax Rate
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Annual Change in 2020 Total Taxes due to tax levy change only (assumes no change in MV):
The table above shows that a property with no market value change in 2020 would
see a decrease in their total city property taxes. This is because the MV tax rate is
projected to decrease by about 4.4%.
2020 Planning Year Projected Tax Rates:
City Tax Rate – Tax Capacity: 33.02% - For the 2020 planning year, staff has set the
city tax levy to capture the 9.64% increase in adjusted net tax capacity. Based on
Scott County preliminary pay 2020 tax capacity information, the city can increase its
tax levy by $1.1M and maintain the same city tax rate as 2019.
Projected
2019 2020
City Net Tax Levy - Tax Capacity 11,623,068 12,743,483
MV Tax Levy 234,418 242,057
Total Tax Levy 11,857,486 12,985,540
Market Value 3,463,715,300 3,740,536,700
Adjusted Net Tax Capacity 35,200,266 38,593,092
City Tax Rate 33.02%33.02%
MV Tax Rate 0.006768%0.006471%
Percent Change:
City Net Tax Levy - Tax Capacity 6.05%9.64%
Adjusted Net Tax Capacity 6.11%9.64%
City Tax Rate -0.06%0.00%
MV Tax Levy 3.02%3.26%
MV Tax Rate -2.24%-4.38%
Actual
Annual Change in 2020 Total Taxes assuming a 5% increase in Market Value:
$%
Residential $338,100 60 5.3%
Residential $400,000 69 5.1%
Residential $500,000 101 4.8%
Residential $1,000,000 203 4.8%
Commercial $1,000,000 325 4.9%
$%
Residential $338,100 (2)$ -0.2%
Residential $400,000 (3)$ -0.2%
Residential $500,000 (3)$ -0.2%
Residential $1,000,000 (7)$ -0.2%
Commercial $1,000,000 (8)$ -0.1%
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MV Tax Rate: .006471% - Based on Scott County preliminary pay 2020 valuation
information, the city’s Referendum MV has increased 7.99%. Due to the market
value increase, the MV tax rate is projected to decrease by about 4.4% due to
the increase in property market values. (The MV tax levy set by the voters is
spread across a larger market value so the rate is decreasing.)
3. Five-Year Property Tax Rate Projections:
The table below shows that the projected city tax levy and tax rate based on the
budget needs identified in the five-year plan. As mentioned above, due to the
increase in city tax capacity, the proposed 2020 budget maintains the city tax rate of
33.02%. The assumptions in the five-year plan indicate an increase in tax rate for
2021-2024.
CITY OF PRIOR LAKE
PROPERTY TAX LEVY, TAX CAPACITY, AND TAX RATE
2019 BUDGET 2020 2021 2022 2023 2024
TAX LEVY
General Fund 8,146,555 8,904,454 9,530,204 10,007,553 10,570,374 11,022,304
Debt Service Fund 3,262,770 3,353,593 3,736,998 4,104,776 4,155,836 4,231,201
Equip Revolv Fund 600,000 600,000 600,000 600,000 600,000 625,000
Revolv Park Equip Fund 289,292 450,885 375,149 417,832 449,294 589,072
EDA Fund 150,000 150,000 175,000 176,800 178,600 180,400
PIR Fund 95,000 175,000 195,000 205,000 205,000 205,000
Facilities Mgmt Fund - 30,000 80,000 80,000 105,000 130,000
Total Levy 12,543,617 13,663,932 14,692,351 15,591,961 16,264,104 16,982,978
Annual % Change 5.85%8.93%7.53%6.12%4.31%4.42%
Fiscal Disparities Distribution 920,449 920,449 920,449 920,449 920,449 920,449
Net Tax Levy 11,623,168 12,743,483 13,771,902 14,671,512 15,343,655 16,062,529
Annual % Change 6.05%9.64%8.07%6.53%4.58%4.69%
TAX CAPACITY
Total Tax Capacity (TC) Before New Construction 37,003,207 39,509,919 41,485,415 43,144,831 44,439,176 45,772,351
TC from Projected New Construction - 886,112 720,826 737,729 711,875 607,500
Total TC with Projected New Construction 37,003,207 40,396,031 42,206,241 43,882,560 45,151,051 46,379,851
Fiscal Disparities TC Contribution 1,074,047 1,074,045 1,074,045 1,074,045 1,074,045 1,074,045
TIF TC 728,894 728,894 728,894 728,894 715,796 715,796
Net Tax Capacity (NTC)35,200,266 38,593,092 40,403,302 42,079,621 43,361,210 44,590,011
Annual % Change 6.11%9.64%4.69%4.15%3.05%2.83%
TAX CAPACITY TAX RATE 33.020%33.020%34.086%34.866%35.386%36.023%
Annual % Change -0.06%0.00%3.23%2.29%1.49%1.80%
TAX LEVY (REFERENDUM)234,418 242,057 253,488 254,638 265,408 280,533
Annual % Change 3.02%3.26%4.72%0.45%4.23%5.70%
MARKET VALUE (REFERENDUM)3,463,715,300 3,740,536,700 3,927,563,535 4,084,666,076 4,207,206,059 4,333,422,240
MARKET VALUE TAX RATE 0.006768%0.006471%0.006454%0.006234%0.006308%0.006474%
Annual % Change -2.24%-4.38%-0.26%-3.41%1.19%2.62%
Total Tax Levy % Change 5.80%8.83%6.33%6.23%4.32%4.45%
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The five-year property tax projection includes the following assumptions that are
driving the changes for 2020-2024:
• One new FTE for each year
• Commitments to long-term plans (CIP)
• Debt obligations (existing and proposed) based on the projects in the CIP
• Estimates for revenues/expenditures to maintain General Fund balance at
46%
• Tax capacity and market value growth assumptions
4. 2019-2023 CIP and Debt Impacts:
The City Council acknowledges that the most responsible course of action with
infrastructure repair, replacement and new construction is to financially plan for
development and incorporate it into the Capital Improvement Program (CIP).
Maintaining the City’s existing infrastructure is expensive as evidenced by the City’s
approved Transportation Plan which has over $25 million in projects planned over
the next 5 years. About 40% of the funding will come from a property tax levy.
Because of the City’s commitment to maintain infrastructure, annual debt service
costs have increased. For 2020, the overall debt service to pay our existing debt
(including proposed debt issued in 2019) is estimated to increase by approximately
$98,000. The debt service levy is the total for debt issued in previous years as well
as proposed 2019. 2019 debt service included the following projects:
• 2019 Street Reconstruction Projects
o CR 21/ TH 13 / Main Ave / Arcadia
o Fish Point Road (Fawn Meadows to CR 21)
• 2019 Street Mill and Overlay Project
• Fire water tanker replacement
Staff works to minimize the debt service levy changes, but we are confined by the
Scott County/MNDot transportation plan, and past decisions to put off equipment
replacements. When equipment starts to fail because of replacement delays, we are
no longer able to follow our CIP equipment replacement plan which works to smooth
the annual tax impact of equipment replacement.
5. Service Impacts
In the past, we have updated the Council on the challenges of maintaining service
levels within the constraints of available resources. Compounding this challenge is
the desire to “catch-up” on deferred maintenance (streets, trails, etc.) and the
Preliminary
2020 2021 2022 2023 2024
Change in Gross Tax Capacity before
new Construction 9%5%4%3%3%
(Constructed 2 yrs prior to tax year):
New Residential Housing Units 135 135 125 125
New Apartment Housing Units 50 50 50 50
New Commercial Square Footage 50,000 50,000 50,000 50,000
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increasing need to provide services to a growing community. In addition, the City of
Prior Lake is understaffed when compared to peer cities. Of metro area cities
(population 20,000-30,000) the average number of FTEs is 113. Prior Lake’s
headcount is currently at 96 FTEs.
Capturing the increase in tax capacity, while maintaining our tax rate, is an
opportunity to increase our funding to address our deferred maintenance and staffing
needs. To the extent possible, our goal is to align Council priorities with the cities
operational and capital needs as identified by staff and resident expectations.
6. 2020 Preliminary Budget
The proposed tax levy for 2020 includes an increase of 6.5% in the tax levy for
mandatory and capital improvement spending to maintain our current level of service.
It also includes an additional 2.3% increase in the tax levy to enhance our current
service levels. Due to the preliminary 2020 increase in tax capacity, the city can
maintain the city tax rate at 33.02%. with the tax levy proposed. Focusing on 2020
only, the primary drivers of the tax levy increase are as follows:
Please note that more detailed analysis and explanation of the 2020 proposed
budget items will be provided during Council workshops dedicated to the 2020
budget this summer.
Page 8
In 2018, the City Council adopted the 2040 Vision and Strategic Plan. The requests
included in the 2020 preliminary budget reflect the priorities outlined in that plan and
are highlighted below:
STRATEGIC INITIATIVE: $105,000 for one-time funding for trails
Goal: Transportation & Mobility
3. Integrate trails to link neighborhoods with city and regional assets.
Goal: Environmental Stewardship & Recreation
4. Provide public spaces and amenities that attract the community to our natural enviro nment.
TECHNOLOGY: $45,000 for new website redesign
Goal: High-Value City Services
6. Seek community engagement through a variety of communication methods to reach all residents.
PERSONNEL: $52,000 for part-time IT staffing (start January 1)
Goal: High-Value City Services
3. Ensure sufficient resources and staffing to meet service demands.
4. Attract, retain and train high caliber workforce to ensure high -quality services.
PERSONNEL: $34,000 for firefighter wage increase
Goal: High-Value City Services
4. Attract, retain and train high caliber workforce to ensure high-quality services.
PERSONNEL: $65,000 for deputy fire chief of training/fire marshal (start July 1)
Goal: High-Value City Services
3. Ensure sufficient resources and staffing to meet service demands.
4. Attract, retain and train high caliber workforce to ensure high-quality services.
Goal: Public Safety
4. Ensure a safe and quality built environment.
CAPITAL IMPROVEMENT PROGRAM: $167,000
Goal: High-Value City Services
1. Establish financial stability for all funds.
2. Design a comprehensive funding strategy for capital needs.
Goal: Transportation & Mobility
1. Maintain quality local street system based on a financially stable plant that meets Overall
Condition Index targets.
MANDATORY: $660,000
Goal: High-Value City Services
1. Establish financial stability for all funds.
2. Design a comprehensive funding strategy for capital needs.
3. Ensure sufficient resources and staffing to meet service demands.
4. Attract, retain and train high caliber workforce to ensure high-quality services.
Page 9
Conclusion
Our tax levy request includes funding to achieve the following objectives:
• maintain the city’s tax rate at the 2019 level while achieving funding shortfalls
for our long-term plans for trails, streets, and facilities
• increase in technology spending to redesign the city’s website
• maintain the General Fund balance in accordance with our Comprehensive
Management Plan and in order to maintain/improve our S&P credit rating.
Does the Council support the following planning assumptions?
• Maintain the General Fund balance at 46%
• Add one FTE per year based on the preliminary personnel plan
• Include technology expenditures, debt service, and CIP funding as
identified in the five-year capital improvement program
• Maintain the 2020 tax rate equal to 2019 tax rate
If the Council is considering a tax rate below the 2019 rate, this would result in
a reduction of the proposed 2020 tax levy. If there is a reduction in the
proposed tax levy below what we have projected for 2020, then Staff is seeking
direction regarding the Council’s priorities for cutback in 2020. The more
specific the direction, the better regarding:
Levy change components to enhance current service levels:
• Onetime funding for strategic initiatives: (placeholder for trails)
• Website redesign
• 2020 staffing – Increase paid on call firefighter hourly wage
• 2020 staffing – Add part-time IT staff (.6 FTE)
• 2020 staffing – Add Deputy Fire Chief – start mid-year (1 FTE)
Levy change components to maintain current service levels:
• Funding the CIP plans
• Expenditure cuts?
• Proposed revenue adds?
Attachment 1 – Updated 2020 Budget & Capital Improvement Program Schedule
Attachment 2 – 2018 Preliminary Year-End Financial Report – Agenda Report
4646 Dakota Street SE
Prior Lake, MN 55372
2020 Budget & Capital Improvement Program Schedule
NOTE: All Highlighted Meetings Open to the Public
April 15 Dept. Heads submit large budget item requests to Finance
May 1 Budget instructions provided to Dept. Heads
Approximately
May 15-31 (After
2019 Audit is
Completed &
Closed in BS&A.)
Dept. Heads submit budget requests to Finance through the financial system
May 20 Council Workshop – Personnel Plan and Long-Range Plan
June 1 – June 15 City Manager, Finance and Staff budget review
June 1 Deadline for Staff to complete CIP updates to the following:
1. Transportation Plan
2. Water Operating Plan
3. Sewer Operating Plan
4. Water Quality Operating Plan
5. Equipment Replacement Plan
6. Park Equipment Replacement Plan
7. Facilities Management Plan
8. Technology Plan
June 17 Council Workshop – 2020 Budget Update/2020-2024 CIP Presentation part 1 of 2
July 15 Council Workshop – 2020-2024 CIP Presentation part 2 of 2
August 5 Council Meeting – Public Hearing on CIP/Street Reconstruction Plan/Adopt CIP
September 3 Council Workshop – Preliminary 2020 Budget/Tax Levy Discussion
September 16 Council Meeting – Adopt Preliminary Tax Levy and announce public budget hearing
date
November 4 Council Workshop – Yearend Budget Preview and Final 20202 Budget/Tax Levy
Discussion
November 6-8 Mayor’s Budget Video Message
December 2 Council Meeting – Public Budget Hearing and Adopt 2020 Budget and Tax Levy
4646 Dakota Street SE
Prior Lake, MN 55372
CITY COUNCIL AGENDA REPORT
MEETING DATE: APRIL 15, 2019
AGENDA #: 5E
PREPARED BY: CATHY ERICKSON, FINANCE DIRECTOR
PRESENTER: CATHY ERICKSON, FINANCE DIRECTOR
AGENDA ITEM: PRESENTATION OF THE PRELIMINARY YEAR-END 2018
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
December 31, 2018, for the following funds:
• General Fund
• Debt Service Funds
• Cable Fund
• Capital Park Fund
• Revolving Equipment Fund
• Revolving Park Equipment Fund
• Facilities Management Fund
• Permanent Improvement Revolving (PIR) Fund
• Water Fund
• Sewer Fund
• Water Quality Fund
• Economic Development Authority Special Revenue Fund
The reports reflect revenue and expenditure activity during 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.
ALTERNATIVES: 1. Motion and second as part of the consent agenda to accept the
December 31, 2018 Financial Report as submitted.
2. Motion and second to remove the claims list from the consent agenda
for additional discussion.
RECOMMENDED
MOTION:
Alternative 1.
Page 2
MEMORANDUM
DATE: April 15, 2019
TO: Prior Lake City Council
FROM: Cathy Erickson, Finance Director
RE: Financial Report dated 12/31/2018
This report provides a summary of 12/31/18 financial results for the City of Prior Lake.
Information is provided for the General Fund, Debt Service Funds, Cable Fund, Capital Park
Fund, Revolving Equipment Fund, Revolving Parks Equipment Fund, Facilities Management
Fund, PIR Fund, Water, Sewer, and Storm Water Funds, and the EDA. Some highlights for the
year are summarized below.
General Fund Summary
Key points for 2018:
• Preliminary financial information reflects revenues exceeding expenditures by $524,000.
• General Fund reserve balance is projected at $7.2M as of 12/31/2018 which is equal to
a 53% reserve balance.
The 2018 original budget was approved with an anticipated use of reserve of $18,890. The
budget was subsequently amended to reflect a use of fund balance reserves of $662,000 for the
following items:
• $15k – Carryforward of 2017 budget items for Fire turn out gear.
• $18k – Use of reserves for professional services for the City Manager search.
• $37k – Use of reserves for the Laserfiche software upgrade.
• $300k – Transfer to the EDA Fund for EDA initiatives
• $148k – Transfer to the PIR Fund for street overlay. Funding was previously budgeted
in the General Fund, but now the street overlay activity is accounted for in the PIR fund.
• $144k – Transfer to the Stormwater Fund for final easement cost per Scott County JPA
agreement for property located along Cty Rd 21/stormwater pond.
General Fund Revenues- 12/31/2018
Total revenues are $13,639,287 thru 12/31/18 or 107% of the annual amount budgeted. This
compares to $13,364,938 or 105% collected in 2017. Preliminary reports show that General
Fund actual revenues exceeded the 2018 budget by $890,509.
The following table highlights the revenue categories that comprise the $891k favorable
variance to budget:
Revenue Category Revenues to Budget
Favorable/(Unfavorable)
Property Taxes $ (19,000)
Licenses and Permits 387,000
Intergovernmental 160,000
Charges for Services (including franchise taxes) 286,000
Interest (loss) on Investments (31,000)
Miscellaneous Revenue 108,000
Page 3
Estimated Total Revenues Exceeding Budget $ 891,000
Taxes
Property tax revenue totaled $7,988,125 or 59% of the total General Fund revenue received in
2018. Current tax collections were at 99.8% compared to 99.7% in 2017. Delinquent collections
totaled $37,448 which is about 15.6% lower than 2017 ($43,300). Fiscal Disparities revenue
was about $15,000 less than budgeted due to tax petition valuation adjustments.
Licenses and Permits
License and Permit revenue consists of building permit and fees and other permits. Building
permits and fees are the largest sources of revenue in this category with a budget of $517k. As
of 12/31/18, $897k or 173% of the amount budgeted for building permits has been collected
(Favorable to budget by $380k). Building permit and fees are $172k higher than last year.
The following chart shows building permit activity and average values for years 2011 through
2018.
2011 2012 2013 2014 2015 2016 2017 2018
Permits
Issued:
Single Family 80 122 149 118 112 108 80 114
Townhomes 26 52 39 8 10 4 20 84
MF Units 3 (222 units) 5 (218 units)
Commercial/
Industrial
0 2 5 5 10 4 11 5
Miscellaneous 1,778 2,115 2,099 1,935 2,063 1,904 1,909 2,378
Total Permits 1,884 2,291 2,292 2,066 2,195 2,022 2,075 2,581
Average
Value:
Single Family $282,400 $347,000 $344,000 $317,000 $331,000 $344,000 $326,000 $353,000
Townhomes $142,615 $174,000 $187,000 $138,000 $183,000 $169,000 $182,000 $172,000
MF Units $129,000 $159,000
Commercial/
Industrial
$ 0 $547,000 $186,000 $17,000 $374,000 $1,405,000 $1,221,227 $1,064,000
The value of building permits issued decreased from $85 million in 2017 to $75 million in 2018.
The following chart shows the building permit valuation changes by category from 2017 to 2018.
Single Family and Townhome total valuation is up 83% from 2017. However, Multiple Unit and
Industrial/Commercial category total valuation is down 88% from 2017. 2017 included the
construction of the Lake Ridge and Pike Lake Marsh apartments and 170,000 sq. ft of new
commercial space. Lastly, the city saw a $6.8M increase in commercial additions in 2018 for
school related additions and alterations.
Building Permit Valuation Increase/(Decrease)
Single Family $ 14,051,000
Townhouses 10,776,000
Multiple Units (34,716,000)
Industrial & Commercial (8,115,000)
Additions & Alterations 8,220,000
Total Valuation Increase/(Decrease) $ (9,874,000)
Page 4
Intergovernmental Revenue
Intergovernmental revenue for 2018 totaled $1,835,750 which is $177,763 more than 2017. The
SMSC increased their contribution from $510,000 in 2017 to $570,000 in 2018, a $60,000
increase in funding per 2018-2019 agreement with the SMSC. The annual funding also includes
$70,000 for a Drug Task Force Officer for years 2017-2019.
State Aid for Police was up 13% due to funding increases for additional patrol and drug
taskforce officer and officer training reimbursement dollars based on increased training
mandates imposed. State Aid for Fire is comparable to 2017. State Road Aid was up 12%
based on funding set by the legislature.
Charges for Services
Charges for Services revenue for 2018 is comparable to 2017 and 17% higher than 2018
budget. The favorability to budget is due to 1) Additional plan check fees due to 198 bldg.
permits as compared to a budget of 135 permits -$136k, 2) an increase in city contracted
services for Police and Parks overtime as compared to budget totaling $110k, about $50k from
police overtime at the SMSC and $11k for Parks contracted overtime. 3) additional tower lease
revenue of $13k due to renewing leases negotiated at a higher rate than originally budgeted,
and 4) Zoning and Subdivision fees are $19k higher than budget due to the additional plats and
application fees than planned due to the Summit Preserve, Trillium Cove and Haven Ridge
development phases.
Recreation revenues (including Park admission fees and facility rental) are $16k higher than
budget, primarily for park shelter rental.
Other Revenue
Interest earnings are $47k higher than budget. In previous years the market was at historically
low rates, however the return on the City’s portfolio is finally increasing. The report also reflects
a $58k decrease in the fair value of the securities. As rates increase, the market value of the
lower yielding securities has decreased. This is a paper loss; no actual gain/loss is realized
because the City holds the securities until maturity.
Miscellaneous revenues were above budget by $107k. This is primarily due to increase in
developer agreement revenue of $66k for two developments that came in during 2018 but were
not planned (Maple Park Shores 2nd and Majestic) and revenue of $25k for contributions/
donations not budgeted/planned primary for recreation and fire departments.
General Fund Expenditures
General Fund expenditures of $ 13,115,121 equal 98% of the amended budget amounts.
General categories vary in how they are impacted from employee turnover, insurance, utilities,
fuel, equipment repairs, ability to complete capital projects etc.
Total Personnel costs were favorable to budget by $16k. There were significant savings due to
employee turnover, unpaid leave and delays in filling open positions in some of the departments
including Finance and Police. The savings is not only due to positions being open for an
extended period but also, when finally filled, the compensation package is typically lower for the
new employee. However, overtime in some of these same departments was over budget to
account for these open positions. The city engineer position was also included in the 2018
budget, as a formal decision to contract that position had not been made at the time the budget
was set.
Other 2018 budget to actual variances to highlight include the following:
Page 5
• Club Prior Supplies – This account was over budget by $18k due to the 10-year
anniversary party for Club Prior, which is a one-time event and some additional
programs not anticipated. However, the city did receive sponsorships of about $7k to
cover some of the cost.
• Fuel – Budgeted at a lower rate and lower fuel use. A typical winter season includes 16
snow events. The 2017-2018 season had 24 snow events.
• Cleaning Contract - Window and carpet cleaning contract negotiated at a lower cost than
budgeted.
• Building Maintenance – Less repairs than expected/in relation to prior year costs
• Parks EAB treatment costs lower than anticipated.
• Parks annual trail sealcoating delayed because the vendor ran out of time to do the trail
within specifications due to weather.
• Legal Fees – Favorable to budget by $50k as staff and legal counsel have worked to
actively manage this expenditure line and nature of work can vary by year.
• Professional Services – Building Dept seasonal assistance budgeted in professional
services but paid via payroll seasonal wages of $22k, Police body cameras and related
data storage contract spending less than anticipated by $20k.
The following table highlights the variances expected in personnel, current expenditures and
capital outlay:
Expenditure Category Estimated Expenditures
Compared to Budget*
Favorable/(Unfavorable)
Subtotals by
Category
Personnel:
Savings from Employee Turnover, Hiring Delays,
etc.
$224,000
Overtime (260,000)
Part-time/Seasonal Wages (8,000)
Other Wages (Election Judges, Paid On-Call Fire) 3,000
Health Insurance Savings 11,000
Workers Comp Insurance 46,000
Total Personnel $ 16,000
Current Expenditures:
Supplies (12,000)
Fuel (23,000)
Uniforms 5,000
Repair & Maintenance Supplies 9,000
Small Equipment 7,000
Maintenance Agreements – Buildings 15,000
Maintenance Agreements - Cleaning 28,000
Maintenance Agreements – General/Equipment/
Heavy Equipment Rental
32,000
Maintenance Agreements – Trees & Native Veg 34,000
Maintenance Agreements – Trails/Sidewalks 48,000
Maintenance Agreements – All Other 8,000
Legal / Prosecution Fees 50,000
Professional Services 70,000
Insurance (4,000)
Memberships and Subscriptions 10,000
Training and Employee Development 8,000
Utilities 8,000
Other 3,000
Total Current Expenditures 286,000
Capital Outlay Expenditures:
Machinery & Equipment 11,000
Page 6
Furniture & Office Equipment 1,000
Total Capital Outlay Expenditures 12,000
Total Expenditures $ 314,000
*positive = budget savings; negative = expenditure exceeds budget
General Fund Reserves-2019 use of reserves
Looking forward to 2019, the 2019 original budget was approved with an anticipated use of
reserve of $216,800. The budget was subsequently amended to reflect a carryforward of 2018
budget items/use of fund balance reserves of $65,000 for the following items:
• $5k – Finance professional services
• $10k – Police equipment
• $30k – Parks trail sealcoating
• $19k– Public Works asset management software replacement
The 2019 planned use of reserves and budget amendments will reduce the reserve to $6.9M
which is equal to a 51% reserve balance.
Prior Period Adjustments
A prior period adjustment occurs when there is an accounting change that requires
adjustment to a prior period. The 2017 fund balance was adjusted for two different accounting
items: accrued wages and utility receivables.
Accrued Wages - The City has always accrued the first payroll in January of the subsequent
year because the wages earned were for work that occurred in December of the prior year.
Starting in 2018, we accrued the December portion of the second payroll in January. This
required an entry at 12/31/17 to reduce fund balance in the General Fund by $151k, the Water
Fund by $14k, the Water Quality Fund by $4k and the Sewer Fund by $7k.
Utility Receivables – The City has never recorded the portion of the February utility bill that
pertains to the prior year. Starting in 2018, we recorded the December portion of the February
utility bill allocating it based on number of days. This required an entry at 12/31/17 to increase
fund balance in the Water Fund by $309k, the Water Quality Fund by $110k and the Sewer
Fund by $346k.
Each year there will be an entry to reverse the prior period amount and accrue the current
period amount. The net impact of these two accounting adjustments at the end of 2018 is as
follows:
• Accrued Wages: The fund balance will decrease in each fund: The General Fund by
$30k, the Water Fund by $2k, the Water Quality Fund by $314, and the Sewer Fund by
$1.4k.
• Utility Receivable: The fund balance will increase in each fund: The Water Fund by
$30k, the Water Quality Fund by $5k and the Sewer Fund by $55k.
Debt Service Funds
Property taxes and special assessments are received in June, December and January (final tax
settlement). There is an overall reduction in 2018 special assessment revenue of $216k as
compared to 2017 because 2017 included a one-time $380k property assessment payoff for the
Bolger property.
2017 also included a payment of funds held in escrow to refund the 2007A water treatment plant
bonds.
Scheduled bond payments were made in June and December.
Page 7
Cable Fund
2018 activity included revenue from cable franchise companies of $36k and planned
expenditures of $60k for the replacement of the Council Chambers cable production equipment.
Capital Park Fund
Park Dedication Fees of $486k were received including fees for Summit Preserve & Haven
Ridge development phases. Expenditures included minor repair work done on the Kinney
House property.
Revolving Equipment Fund
Property taxes, the primary funding source, were received in June, December and January (final
tax settlement) totaling $549,823.
Equipment purchases totaled $900,892 which is less than the budget by $493,135. This was
due to the following:
• Work on the Fire pumper truck was only partially completed in 2018. The work on the
pumper was delayed because US Government contract work done by the vendors was
required to take priority over other contracts.
• Due to Police staff turnover, the emergency siren replacement and some equipment
replacement was not completed in 2018
Budget amendments were approved to carryforward these expenditure and funding to 2019.
Facilities Management Fund
Revenue for this fund comes primarily from Transfers In (Water and Storm Water), Interest, and
bond proceeds. In 2018 $629,643 of debt was issued for the Fire Station #1 Self Contained
Breathing Apparatus equipment and parking lot improvements. In addition to expenditures for
the SCBA equipment and parking lot improvements, carpeting at Fire Station #1 was also
replaced.
Permanent Improvement Revolving Fund
Revenue from this fund consists mainly of special assessments and bond proceeds. Total
assessment revenue in 2018 was $269,976, consisting of $223,401 of prepaids. Bond
proceeds were received for $490,000. $148,000 was also received as a transfer in from the
General Fund as a funding source for the 2018 mill and overlay project. The 2018 project cost
was $623,378.
Water Fund
The financial report for the Water Fund reflects six billing cycles. Operating revenue totaled
$3,967,678 which is an increase of $173,959 or 4.4% from 2017. Revenue increased due to an
increase in the rates. During 2018, rates were increased from $4.53 to $4.67 for the base rate
and from $6.25 to $6.44 for the rate above 25,000 gallons per billing cycle. Water usage
decreased from 709.1 million gallons to 700.1 million gallons.
In 2018 $1,320,000 of debt was issued for the Automated Meter Reading System (AMRS)
Replacement and 2018 Huron Area street reconstruction project. Since the Water Fund
operates on the accrual basis of accounting, the bond proceeds are reclassed to a long-term
liability account on the fund’s balance sheet.
Total operating expenses were $2,680,073 which is 130% of the $2,055,772 budget and
$58,624 more than 2017. Unbudgeted depreciation expense makes up $804,126 (30%) of the
operating expenses. Water Meters and Repair and Maintenance Supplies were below budget in
total by $70,000. Less meter purchases were needed due to the implementation of the
Page 8
automated meter reading replacement project in 2019. Water purchases from the SMSC
increased from $268,440 in 2017 to $301,987 in 2018.
On a cash basis, capital expenses this year total $3,445,605. 2018 expenditures for the SMSC
Joint Water Treatment Facility Filter Cells, the Automated Meter Reading System (AMRS)
Replacement and 2018 street reconstruction projects are reflected in the capital improvements.
The final work on the Summit Preserve Booster station (two yr. project) and a portion of the
work to extend the raw water main to the Joint Water Treatment Facility are also included in the
2018 expenditures. The status of the capital improvement costs is shown below:
Water Improvement
Projects
CIP Ref Budget Actual Comments
Water Treatment Facility
Equipment Replacement
CIP #14 $106,090 $0 Project Deferred
Cartegraph Upgrade CIP #25 18,890 0 Project Deferred
Total $124,980 $0
Infrastructure Projects CIP Ref Budget Actual Comments
Franklin Trl (CR44 to Summer) CIP #10 360,000 220,439 Transfer funds to F501
Huron Area Streets CIP #10 775,000 556,461 Transfer funds to F501
CSAH 42/TH13 CIP #10 $100,000 Project Deferred
Park Avenue CIP #10 49,500 Project Deferred
Watermain Extension CR82 47,580
SMSC Joint Water Treatment
Facility Filter Cells
CIP #14 1,500,000 1,492,167
AMRS Replacement CIP #11 850,000 634,293 Project will carry over into
2019
Summit Preserve Booster Station CIP #14 556,552 Project budgeted in
2017/project completed in
2018
Raw watermain extension project CIP #13 711,557 Project budgeted in 2019
but portion of work
completed in 2018 by the
SMSC as part of another
project
Non-capital expenditures 3,456
Total $3,634,500 $3,445,605
Transfers out include $845,545 for operating transfers and $776,000 for street project transfers.
Sewer Fund
The financial report for the Sewer Fund reflects six billing cycles. Operating revenue totaled
$3,270,527 which is an increase of $179,754 or 5.8% over 2017. Consumption decreased from
531.7 million gallons to 528.6. million gallons. Revenue increase is due to the rate increase.
During 2018, rates were increased from $2.69 to $2.94 for the City and from $2.57 to $2.67 for
the MCES.
In 2018 $1,320,000 of debt was issued for the Automated Meter Reading System (AMRS)
Replacement and 2018 Huron Area street reconstruction project. Since the Sewer Fund
operates on the accrual basis of accounting, the bond proceeds are reclassed to a long-term
liability account on the fund’s balance sheet.
Total operating expenses were $2,891,121, which is 112% of the $2,589,836 budget and
$119,975 more than 2017. Unbudgeted depreciation expense makes up $511,909 (17%) of the
operating expenses. Disposal charges are the largest expense totaling $1,390,443. The
Page 9
monthly payment to the Metropolitan Council Environmental Services is $115,870 which is a
5.0% increase over from last year.
On a cash basis, capital expenses this year total $730,831. Authorized expenditures for 2018
Street Reconstruction projects are reflected in the capital improvements. The status of the
capital improvement costs is shown below:
Sewer Improvement Projects CIP
Ref
Budget Actual Comments
Sewer System Equipment
Replacement
CIP#19 $62,407 $92,079 Sewer televising camera and
trailer
Cartegraph Upgrade CIP#25 18,890 0 Project Deferred
Total $81,297 92,079
Street Reconstruction Projects CIP
Ref
Budget Actual Comments
Franklin Trl (CR44 to Summer) CIP#10 330,000 378,748 Transfer funds to F501
Huron Area Streets CIP#10 550,000 467,176 Transfer funds to F501
Inflow/Infiltration Improvements CIP#18 100,000 Project deferred
AMRS Replacement CIP#11 850,000 634,293 Project will carry over into 2019
Non-capital expenditures 4,459
Total $1,830,000 $638,752
Transfers out include $271,109 for operating transfers and $845,924 for street project transfers.
Storm Water Fund
The financial report for the Water Quality Fund reflects six billing cycles. Storm water operating
revenue totaled $986,338 which is an increase of $60,350 or 6.1% over 2017. This is due
primarily to a rate increase from $13.93 to $14.34. Storm Water revenues are based on flat
rates per billing cycle.
Total operating expenses were $577,396 which is 109% of the $532,064 budget and $36,112
more than 2017. Unbudgeted depreciation expense makes up $121,889 (21%) of the operating
expenses.
The status of the capital improvement costs is shown below:
Storm Sewer
Improvement Projects
CIP Ref Budget Actual Comments
Stormwater Infrastructure
Maintenance
CIP #20 $60,000 $15,035
Pond Maintenance & Retrofit CIP #21 357,751 447,630 Sand Point Beach Stormwater
Infrastructure Project
2017/2018 funding; 2018
expenditures
Breezy Point Improvements 5,900
Non-capital expenditures CIP #22 25,000 24,412 Contract BMP Maintenance
Total $442,751 $492,977
Street Reconstruction Projects CIP Ref Budget Actual Comments
Franklin Trl (CR44 to Summer) CIP#10 89,590
Huron Area Streets CIP#10 190,015 347,831 Transfer funds to F501
Rolling Oaks 56,836 Transfer funds to F501
Stormwater Easement CIP#10 143,612 143,612
Total $423,217 $143,612
Page 10
Transfers out include $77,000 for operating transfers and $403,667 for street project transfers.
Economic Development Authority Special Revenue Fund
Funding for the EDA comes primarily from property taxes and facility rental payments from the
Technology Village Business Incubator. In 2018, the Council approved a transfer of $300,000
from the General Fund to the EDA for economic development initiatives.
Revenues of $453,909 exceeded expenditures of $149,853 by $304,056 due to the transfer in
from the General Fund. Personnel, commissioner per diems, professional services and
Technology Village Business Incubator expenditures comprise most of the expenditures.
City of Prior Lake
General Fund Summary
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Taxes 8,006,734 8,006,734 7,988,125 (18,609) 100%8,158,560 (170,435)
Licenses and Permits 607,798 607,798 994,613 386,815 164%820,432 174,180
Intergovernmental 1,675,986 1,675,986 1,835,750 159,764 110%1,657,987 177,763
Charges for Services 1,702,315 1,702,315 1,987,982 285,667 117%1,967,145 20,837
Fines and Forfeitures - - 1,448 1,448 n/a 2,250 (802)
Interest (losses) on investments 86,000 86,000 54,716 (31,284) 64%11,149 43,567
Other 226,945 226,945 333,653 106,708 147%317,414 16,238
Transfers in 443,000 443,000 443,000 - 100%430,000 13,000
Total Revenues 12,748,778 12,748,778 13,639,287 890,509 107%13,364,938 274,349
Expenditures
General Government 2,844,193 2,898,749 2,815,389 83,360 97%2,846,882 31,493
Public Safety 5,733,489 5,748,489 5,746,524 1,965 100%5,233,840 (512,684)
Public Works 2,063,803 2,060,129 1,882,970 177,159 91%1,798,921 (84,049)
Culture and Recreation 1,898,731 1,902,405 1,850,588 51,818 97%1,687,550 (163,038)
Transfer to other funds 227,552 819,651 819,651 (0) 100%1,636,121 816,470
Contingent Reserve - - - - n/a 5,616 5,616
Total Expenditures 12,767,768 13,429,423 13,115,121 314,302 98%13,208,930 93,809
Net Change (18,990) (680,645) 524,166 156,008
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive ( Negative)USED 12/31/2017 Positive (Negative)
Taxes
101 31010.00 Current Property Taxes - General Purpos 7,116,875 7,116,875 7,075,018 (41,857) 99%7,377,894 (302,876)
101 31020.00 Delinquent Property Taxes - General Purp - - 37,448 23,782 n/a 43,300 (5,852)
101 31040.00 Fiscal Disparities 889,859 889,859 874,720 (15,139) 98%736,541 138,179
101 33423.00 Market Value Credit Aid - - 940 940 n/a 825 114
Taxes 8,006,734 8,006,734 7,988,125 (18,609) 100%8,158,560 (170,435)
Licenses and Permits
101 32100.00 Business Licenses 900 900 600 (300) 67%1,200 (600)
101 32110.00 Liquor Licenses 74,790 74,790 77,115 2,325 103%75,840 1,275
101 32160.00 Refuse Haulers 4,150 4,150 4,790 640 115%4,400 390
101 32180.00 Cigarette Licenses 2,500 2,500 2,250 (250) 90%2,500 (250)
101 32210.00 Building Permits 421,498 421,498 692,661 271,163 164%602,394 90,267
101 32211.00 Retainage Forfeiture - - 1,500 1,500 n/a - 1,500
101 32215.00 Mechanical Permits 47,408 47,408 107,559 60,151 227%55,931 51,628
101 32230.00 Plumbing Permits 39,983 39,983 80,686 40,703 202%53,762 26,924
101 32231.00 Sewer/Water Inspection 6,994 6,994 14,339 7,345 205%12,611 1,728
101 32232.00 Plumbing Registrations 1,200 1,200 1,438 238 120%800 638
101 32240.00 Animal Licenses 3,750 3,750 4,170 420 111%4,045 125
101 32260.00 Burning Permits 2,625 2,625 4,070 3,000 155%3,000 1,070
101 32270.00 Short-term Rental Fee 2,000 2,000 2,455 455 123%3,000 (545)
101 32175.00 Public Private Gathering Permit - - 780 780 n/a 600 180
101 32190.00 Community Event Application - - 200 200 n/a 350 (150)
Licenses and Permits 607,798 607,798 994,613 386,815 164%820,432 174,180
Intergovernmental
101 33160.11 Fed Aids/Grants - Operating Police 17,850 17,850 7,504 (10,346) 42%8,458 (954)
101 33401.00 Local Government Aid 11,905 11,905 11,905 - 100%11,905 -
101 33416.01 State Aid - Police Train 10,600 10,600 23,925 13,325 226%7,948 15,977
101 33416.02 State Police Aid-Ins Prem 192,000 192,000 217,502 25,502 113%202,935 14,568
101 33417.00 State Aid - Fire Training 7,000 7,000 12,579 5,579 180%12,435 144
101 33418.00 State Road & Bridge Aid 325,213 325,213 376,210 50,997 116%335,077 41,133
101 33420.00 State Fire Aid-Ins. Prem.215,000 215,000 225,610 10,610 105%216,182 9,428
102 33422.11 State Aids/Grants - Operating Police 3,850 3,850 2,959 (891) 77%900 2,059
101 33610.11 County Aids/Grants - Operating Police - - - - n/a 6,000 (6,000)
101 33620.00 Township Fire & Resc Aid 297,775 297,775 296,559 (1,216) 100%298,076 (1,517)
101 33621.00 Liaison Aid 48,793 48,793 48,793 - 100%48,072 721
101 33631.00 Payment in Lieu of Taxes 510,000 510,000 570,000 60,000 112%510,000 60,000
101 33700.11 Miscellaneous Grants - Operating Police 36,000 36,000 42,204 6,204 117%- 42,204
Intergovernmental 1,675,986 1,675,986 1,835,750 159,764 110%1,657,987 177,763
Charges for Services
101 31810.00 Franchise Taxes 615,000 615,000 630,932 15,932 103%620,469 10,463
101 34103.00 Zoning & Subdivision Fees 20,650 20,650 39,712 19,062 192%55,064 (15,351)
101 34104.00 Plan Check Fees 255,028 255,028 390,827 135,799 153%342,541 48,286
101 34105.00 Sale of Maps/Publications - Reports 1,000 1,000 510 (490) 51%320 190
101 34107.00 Assessment Searches - Reports 400 400 490 90 123%300 190
101 34109.00 Project Admin/Eng Fees 236,000 236,000 199,189 (36,811) 84%309,324 (110,134)
101 34203.00 Accident/Warrant Reports - Reports 200 200 143 (57) 72%492 (349)
101 34731.00 Adult League Fees 13,000 13,000 14,237 1,237 110%14,573 (336)
101 34735.00 Recreation Program Fees 47,000 47,000 42,409 (4,591) 90%60,195 (17,786)
101 34735.01 Recreation Program Fees Regular - - 12,311 12,311 n/a - 12,311
101 34740.00 Concessions - Park Fees - - 822 822 n/a 1,074 (252)
101 34760.01 Facility Rental - Regular 74,941 74,941 52,217 (22,724) 70%74,454 (22,237)
101 34761.00 Studio/Pavilion Rental 18,000 18,000 19,848 1,848 110%25,733 (5,885)
101 34762.00 Park Shelter Rental 42,500 42,500 54,242 11,742 128%36,677 17,565
101 34763.13 Facility Usage Fee (not taxable)3,000 3,000 - (3,000) 0%300 (300)
101 34765.01 Tower Leases 277,596 277,596 290,462 12,866 105%282,189 8,274
101 34780.00 Park Admission Fees 39,000 39,000 34,861 (4,139) 89%20,746 14,116
101 34783.00 City Contract Services 59,000 59,000 168,925 109,925 286%99,612 69,313
101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - 35,841 35,841 n/a 23,082 12,759
Charges for Services 1,702,315 1,702,315 1,987,982 285,667 117%1,967,145 20,837
Fines and Forfeitures
101 35101.00 County Court Fines - - 1,000 1,000 n/a 1,700 (700)
101 35104.00 Prosecution Restitution - - 448 448 n/a 550 (102)
Fines and Forfeitures - - 1,448 1,448 n/a 2,250 (802)
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive ( Negative)USED 12/31/2017 Positive (Negative)
COMPARATIVE
Interest (losses) on investments
101 36210.00 Interest Earnings 86,000 86,000 133,312 47,312 155%91,836 41,477
101 36215.00 Amortization - Premium/Discount - - (20,302) (20,302) n/a (35,864) 15,562
101 36225.00 Unrealized Inv.Gain(Loss)- - (58,293) (58,293) n/a (44,822) (13,471)
Interest (losses) on investments 86,000 86,000 54,716 (31,284) 64%11,149 43,567
Other Miscellaneous Revenues
101 36101.00 City Assess. Collection - - (2,518) (2,518) n/a 1,859 (4,378)
101 36102.00 County Assess. Collection 2,500 2,500 7,209 4,709 288%(12,519) 19,728
101 36211.00 Developer Agreements 195,000 195,000 260,975 65,975 134%275,310 (14,336)
101 36212.00 Miscellaneous Revenue 29,445 29,445 39,285 9,840 133%39,132 153
101 36230.00 Contributions & Donations - - 25,380 25,380 n/a 9,992 15,388
101 39102.00 Sale of Property - - 3,323 3,323 n/a 3,640 (317)
Other Miscellaneous Revenues 226,945 226,945 333,653 106,708 147%317,414 16,238
Other financing sources
101 39203.00 Transfer from Other Funds 443,000 443,000 443,000 - 100%430,000 13,000
Other financing sources 443,000 443,000 443,000 - 100%430,000 13,000
Total Revenues 12,748,778 12,748,778 13,639,287 890,509 107%13,364,938 274,349
City of Prior Lake
General Fund Expenditures
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance from
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Function: General Government
41110.00 MAYOR & COUNCIL 58,196 58,196 63,173 (4,977) 109%68,445 5,272
41130.00 ORDINANCE 7,500 7,500 7,091 409 95%7,533 442
41320.00 ADMINISTRATION 428,305 436,970 442,163 (5,193) 101%436,766 (5,397)
41330.00 BOARDS & COMMISSIONS 10,689 10,689 9,811 878 92%11,227 1,415
41410.00 ELECTIONS 23,984 23,984 20,558 3,426 86%- (20,558)
41520.00 FINANCE 464,052 464,052 446,862 17,190 96%413,277 (33,585)
41540.00 INTERNAL AUDITING 30,700 30,700 30,615 85 100%31,240 625
41550.00 ASSESSING 194,700 194,700 194,716 (16) 100%187,378 (7,338)
41610.00 LEGAL 212,000 212,000 162,462 49,538 77%217,039 54,576
41820.00 HUMAN RESOURCES 184,443 202,443 194,356 8,087 96%193,252 (1,104)
41830.00 COMMUNICATIONS 124,717 124,717 116,934 7,783 94%114,787 (2,147)
41910.00 COMMUNITY DEVELOPMENT 326,475 326,475 329,122 (2,647) 101%336,899 7,777
41920.00 INFORMATION TECHNOLOGY 317,145 345,036 344,208 828 100%348,954 4,746
41940.00 FACILITIES - CITY HALL 461,287 461,287 453,316 7,971 98%480,084 26,768
Total - Function General Government 2,844,193 2,898,749 2,815,389 83,360 97%2,846,882 31,493
Function: Public Safety
42100.00 POLICE 4,172,825 4,172,825 4,172,589 236 100%3,742,452 (430,137)
42200.00 FIRE 929,460 944,460 960,918 (16,458) 102%845,669 (115,249)
42400.00 BUILDING INSPECTION 593,926 593,926 577,534 16,392 97%608,073 30,539
42500.00 EMERGENCY MANAGEMENT 10,830 10,830 9,083 1,747 84%11,246 2,163
42700.00 ANIMAL CONTROL 26,448 26,448 26,400 48 100%26,400 -
Total - Function Public Safety 5,733,489 5,748,489 5,746,524 1,965 100%5,233,840 (512,684)
Function: Public Works
43050.00 ENGINEERING 466,739 463,065 351,133 111,932 76%379,994 28,861
43100.00 STREET 1,175,385 1,175,385 1,130,272 45,113 96%1,002,601 (127,671)
43400.00 CENTRAL GARAGE 421,679 421,679 401,565 20,114 95%416,326 14,761
Total - Function Public Works 2,063,803 2,060,129 1,882,970 177,159 91%1,798,921 (84,049)
Function: Culture and Recreation
45100.00 RECREATION 427,696 427,696 435,613 (7,917) 102%390,707 (44,907)
45200.00 PARKS 1,407,937 1,411,611 1,366,193 45,418 97%1,237,422 (128,771)
45500.00 LIBRARIES 63,098 63,098 48,781 14,317 77%59,421 10,640
Total - Function Culture and Recreation 1,898,731 1,902,405 1,850,588 51,818 97%1,687,550 (163,038)
00000.00 Transfer to Other Funds 227,552 819,651 819,651 (0) 100%1,636,121 816,470
Function: Contingent Reserve
49999.00 CONTINGENT RESERVE - - - - n/a 5,616 5,616
Total - Function Contingent Reserve - - - - n/a 5,616 5,616
Total Expenditures 12,767,768 13,429,423 13,115,121 314,302 98%13,208,930 93,809
COMPARATIVE
City of Prior Lake
Debt Service Funds
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Property Taxes
Current Property Taxes 3,142,620 3,142,620 3,139,950 (2,670) 100%2,637,724 502,226
Special Assessments
City Assess. Collections - - 457,725 457,725 n/a 804,984 (347,259)
County Assess. Collection 586,355 586,355 539,559 (46,796) 92%408,981 130,578
Interest (losses) on investments
Interest Earnings 30,491 30,491 67,237 36,746 221%175,012 (107,775)
Unrealized Inv.Gain(Loss)- - (25,187) (25,187) n/a (87,015) 61,827
Miscellaneous Revenues
Miscellaneous Revenues - - - - n/a (7,440) (7,440)
Other Financing Sources
Transfer from Other Funds 870,365 870,365 1,171,696 301,331 135%1,731,544 (559,848)
Total Revenues 4,629,831 4,629,831 5,350,980 721,149 116%5,663,790 (327,690)
Expenditures
Debt Service
Principal 3,953,016 3,953,016 3,953,016 - 100%3,987,634 34,618
Interest and Other 938,256 938,256 938,255 1 100%1,192,483 254,228
Bond Issuance Costs 4,728 4,728 6,165 (1,437) 130%8,595 2,430
Refunded Bond Escrow Pmts - - - - n/a 6,790,000 6,790,000
Transfers to Other Funds - - 58,024 (58,024) n/a 433,528 375,504
Total Expenditures 4,896,000 4,896,000 4,955,460 (59,460) 101%12,412,241 7,456,781
Net Change (266,169) (266,169) 395,520 (6,748,450)
COMPARATIVE
City of Prior Lake
Cable Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Charges for Services
210-41340.00-34304.00 PEG Access Fees 32,000 32,000 36,081 4,081 113%36,815 (734)
Interest (losses) on investments
210-41340.00-36210.00 Interest Earnings - - 1,698 1,698 n/a 856 842
210-41340.00-36225.00 Unrealized Inv. Gain (Loss)- - (878) (878) n/a (723) (155)
Total Revenues 32,000 32,000 36,901 4,901 115%36,949 (48)
Expenditures
Current Expenditures
210-41340.00-52400.20 Small Equipment - Technology - - 4,607 (4,607) n/a 41 (4,567)
Capital Outlay
210-41340.00-55570.00 Machinery and Equipment 80,000 80,000 60,530 19,470 76%57,480 (3,050)
Total Expenditures 80,000 80,000 65,137 14,863 81%57,521 (7,616)
Net Change (48,000) (48,000) (28,236) (20,572)
COMPARATIVE
City of Prior Lake
Capital Park Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental - Regular 24,000 24,000 20,300 (3,700) 85%24,000 (3,700)
225-45200.00-34791.00 Dedication Fees 405,000 405,000 486,426 81,426 120%603,808 (117,382)
Charges for Services 429,000 429,000 506,726 77,726 118%627,808 (121,082)
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 17,000 17,000 33,034 16,034 194%16,629 16,405
225-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (13,090) (13,090) n/a (9,539) (3,551)
Interest (losses) on investments 17,000 17,000 19,944 2,944 117%7,090 12,854
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 6,375 6,375 n/a 5,930 445
Contributions and donations - - 6,375 6,375 n/a 5,930 445
Total Revenues 446,000 446,000 533,045 87,045 120%640,828 (107,783)
Expenditures
54320.00 Miscellaneous 3,700 3,700 7,545 (3,845) 204%- (7,545)
59203.00 Transfers to Other Funds - - - - n/a 21,052 21,052
53100.80 Professional Services-General - - 49,420 (49,420) n/a - (49,420)
55530.00 Infrastructure - - 7,953 (7,953) n/a 86,719 78,765
Total Expenditures 3,700 3,700 64,918 (61,218) 1755%107,771 42,853
Net Change 442,300 442,300 468,127 533,057
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 550,000 550,000 549,823 (178) 100%375,905 173,918
Taxes 550,000 550,000 549,823 (178) 100%375,905 173,918
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 16,224 10,224 270%7,457 8,767
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,484) (2,484) n/a (3,070) 586
Interest (losses) on investments 6,000 6,000 13,740 7,740 229%4,387 9,353
Sale of assets
410-00000.00-39102.00 Sale of Property - - 19,435 19,435 n/a - 19,435
Sale of assets - - 19,435 19,435 n/a - 19,435
Other
410-42100.06-39104.00 Forfeiture Property Sales 12,000 12,000 7,195 (4,805) 60%- 7,195
Other 12,000 12,000 7,195 (4,805) 60%- 7,195
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 155,000 155,000 155,000 - 100%341,000 (186,000)
Transfers in 155,000 155,000 155,000 - 100%341,000 (186,000)
OTHER FINANCING SOURCES
Debt Issued
410-00000.00-39310.00 G.O. Bond Proceeds 665,000 665,000 605,000 (60,000) 91%- 605,000
Premium on debt issued
410-43100.00-55110.00 Projects - Bond Discount/Premium - - 69,562 69,562 n/a - 69,562
665,000 665,000 674,562 9,562 101%- 674,562
Total Revenues 1,418,000 1,418,000 1,429,755 11,755 101%721,292 708,463
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 191,690 191,690 133,212 58,478 69%101,657 (31,555)
410-42100.00-55570.00 Machinery & Equipment 46,350 46,350 - 46,350 0%- -
Fire
410-42200.00-55070.00 Projects - Bond Issuance Costs - - 8,129 (8,129) n/a - (8,129)
410-42200.00-55550.00 Vehicles 678,770 678,770 300,897 377,873 44%- (300,897)
Total Public Safety 916,810 916,810 442,239 474,571 48%101,657 (340,581)
Public Works
Street
410-43100.00-55550.00 Vehicles - - - - n/a 199,355 199,355
410-43100.00-55570.00 Machinery & Equipment - - - - n/a 12,374 12,374
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 21,118 (1,118) 106%19,999 (1,119)
Total Public Works 20,000 20,000 21,118 (1,118) 106%231,728 210,609
Culture and Recreation/Parks
410-45200.00-55550.00 Vehicles 218,154 218,154 232,057 (13,903) 106%110,650 (121,407)
410-45200.00-55570.00 Machinery and Equipment 18,849 18,849 3,711 15,138 20%73,157 69,446
Total Culture & Recreation 237,003 237,003 235,768 1,235 99%183,807 (51,960)
Water
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 373,178 373,178
Total Utility 220,214 220,214 201,768 18,446 92%373,178 171,410
Total Expenditures 1,394,027 1,394,027 900,892 493,135 65%890,370 (10,522)
Net Change 23,973 23,973 528,862 (169,078)
COMPARATIVE
City of Prior Lake
Facilities Management Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Interest (losses) on investments
440-00000.00-36210.00 Interest Earnings 5,400 5,400 10,357 4,957 192%10,303 54
440-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (4,312) (4,312) n/a (5,157) 844
Interest (losses) on investments 5,400 5,400 6,044 644 112%5,147 898
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 58,350 58,350 58,350 - 100%56,650 1,700
Transfers in 58,350 58,350 58,350 - 100%56,650 1,700
Debt Issued
440-00000.00-39310.00 G.O. Bond Proceeds 620,000 620,000 - (620,000) 0%370,000 (370,000)
440-42200.00-39310.00 G.O. Bond Proceeds-FIRE - - 560,000 560,000 n/a - 560,000
440-42200.00-39315.00 Projects-Bond Premium - - 69,643 69,643 n/a
Debt Issued 620,000 620,000 629,643 9,643 102%370,000 190,000
Total Revenues 683,750 683,750 694,037 10,287 102%431,797 192,598
Expenditures
Function: General Government
41940-55050.00 Projects Professional Svcs- FACILITIES - CITY HALL - - 10,048 (10,048) n/a - (10,048)
41940-55570.00 Machinery & Equipment-FACILITIES - CITY HALL - - - - n/a 10,690 10,690
Total - Function General Government - - 10,048 (10,048) n/a 10,690 642
Function: Public Safety
42100-55520.00 Building & Building Improvements-POLICE 8,000 8,000 - 8,000 0%10,785 10,785
42100-55570.00 Machinery and Equipment-POLICE - - - - n/a 10,690 10,690
42200-55070.00 Projects-Bond Inssuance Costs-FIRE - - 7,524 (7,524) n/a - (7,524)
42200-55520.00 Projects-Publication-FIRE - - 229 (229) n/a - (229)
42200-55520.00 Building & Building Improvements-FIRE 843,204 843,204 422,908 420,296 50%9,505 (413,403)
42200-55570.00 Machinery & Equipment-FIRE - - 320,456 (320,456) n/a - (320,456)
43100-55070.00 Machinery & Equipment-STREET - - - - n/a 7,472 7,472
43100-55110.00 Bond Discount/Premium-STREET - - - - n/a (9,913) (9,913)
Total - Function Public Safety 851,204 851,204 751,118 100,086 88%28,539 (722,579)
Function: Culture and Recreation
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 23,096 (596) 103%478,870 455,774
49400-80000.00 Transfers to Other Funds - - - - n/a 83,829 83,829
Total - Function Culture and Recreation 22,500 22,500 23,096 (596) 103%562,699 539,603
Total Expenditures 873,704 953,665 784,262 169,403 82%601,928 (182,334)
Net Change (189,954) (269,915) (90,224) (170,131)
COMPARATIVE
City of Prior Lake
Permanent Improvement Revolving Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Special Assessments
450-00000.00-36101.00 City Assess. Collections - - 223,401 223,401 n/a 157,933 65,468
450-00000.00-36102.00 County Assess. Collection 83,314 83,314 46,575 (36,739) 56%- 46,575
83,314 83,314 269,976 186,662 324%157,933 112,043
Interest (losses) on investments
450-00000.00-36210.00 Interest Earnings 1,538 1,538 8,055 6,517 524%1,967 6,088
450-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,069) (2,069) n/a (1,536) (534)
Interest (losses) on investments 1,538 1,538 5,986 4,448 389%431 5,555
Transfers in
450-00000.00-39203.00 Transfer from Other Funds - 148,000 148,000 - 100%120,000 28,000
Transfers in - 148,000 148,000 - 100%120,000 28,000
Debt Issued
450-00000.00-39310.00-PIR17-000001 G.O. Bond Proceeds - - - - n/a 355,000 (355,000)
450-00000.00-39310.00-PIR18-000001 G.O. Bond Proceeds 600,000 600,000 490,000 (110,000) 82%- 490,000
Debt Issued 600,000 600,000 490,000 (110,000) 82%355,000 135,000
Total Revenues 684,852 832,852 913,961 81,109 110%633,364 280,597
Expenditures
Function: Public Works
450-43100.00-54010.01 STREET 650,000 650,000 623,378 26,622 96%- (623,378)
450-43100.00-55070.00-PIR17-000001 Projects - Bond Issuance Costs - - - - n/a 7,169 7,169
450-43100.00-55070.00-PIR18-000001 Projects - Bond Issuance Costs - - 6,584 (6,584) n/a - (6,584)
450-43100.00-55110.00-PIR17-000001 Projects - Bond Discount/Premium - - - - n/a (9,601) (9,601)
450-43100.00-55110.00-PIR18-000001 Projects - Bond Discount/Premium - - (34,493) 34,493 n/a - 34,493
450-43100.00-55530.00-PIR17-000001 Infrastructure - - - - n/a 377,020 377,020
Total - Function Public Works 650,000 650,000 595,468 54,532 92%374,587 (220,881)
OTHER FINANCING USES
Transfers out
450-80000.00-59203.00 Transfers to Other Funds 75,374 75,374 75,374 - 100%- (75,374)
Total Expenditures 725,374 725,374 670,842 54,532 92%374,587 (296,255)
Net Change (40,522) 107,478 243,119 258,777
COMPARATIVE
City of Prior Lake
Water Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 3,691,044 3,691,044 3,535,919 (155,125) 96%3,435,639 100,280
601-49400.00-37160.00 Penalties - - 22,108 22,108 n/a 18,496 3,612
3,691,044 3,691,044 3,558,026 (133,018) 96%3,454,135 103,892
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 268,680 268,680 263,705 (4,975) 98%260,147 3,558
268,680 268,680 263,705 (4,975) 98%260,147 3,558
Meter Sales
601-49400.00-37170.00 Water Meter Sales 82,750 82,750 106,138 23,388 128%62,134 44,004
601-49400.00-37175.00 Pressure Reducers 32,700 32,700 31,826 (874) 97%17,303 14,523
601-49400.00-37185.00 AMRS Brass Recycling - - 7,983 7,983 n/a - 7,983
115,450 115,450 145,947 30,497 126%79,437 66,510
Intergovernmental
601-00000.00-33422.15 State Aids/Grants - Operating Public Wor - - - - n/a 2,770 (2,770)
601-00000.00-33422.25 State Aids/Grants - Capital Public Works - - - - n/a 500 (500)
601-494.00-33610.10 County-City Aids/Grants-Operations - - 500 500 n/a - 500
- - 500 500 n/a 3,270 (2,770)
Interest (losses) on investments
601-00000.00-36210.00 Interest Earnings 35,900 35,900 74,954 39,054 209%42,100 32,854
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (16,238) (16,238) n/a (20,589) 4,351
35,900 35,900 58,716 22,816 164%21,512 37,205
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 11,938 11,938 n/a 10,219 1,719
601-00000.00-36102.00 County Assess Collection - - 54,401 54,401 n/a 2,378 52,024
601-00000.00-36231.00 PERA Pension Contributions - - - - n/a 193 (193)
601-49400.00-37190.00 Miscellaneous Revenue Adj - - 27 27 n/a 95 (68)
- - 66,367 66,367 n/a 12,884 53,483
Contribution of assets
601-00000.00-37901.00 Contribution (Other Fund)- - 2,691,005 2,691,005 n/a 2,590,740 100,265
601-00000.00-37902.00 Contribution (Developers)- - 507,943 507,943 n/a 145,449 362,494
- - 3,198,948 3,198,948 n/a 2,736,189 462,759
Transfers in
39203.00 Transfer from Other Funds 1,500,000 1,888,000 2,608,474 720,474 138%250,000 2,358,474
1,500,000 1,888,000 2,608,474 720,474 138%250,000 2,358,474
Sale of Assets
601-00000.00-39102.00 Sale of Property - - 1,185 1,185 n/a - 1,185
- - 1,185 1,185 n/a - 1,185
Debt Issued
601-49400.00-39310.00-CAP18-000001 G.O. Bond Proceeds 1,180,000 1,180,000 - (1,180,000) 0%- -
1,180,000 1,180,000 - (1,180,000) 0%- -
Total Revenues 6,791,074 7,179,074 9,901,867 2,722,793 138%6,817,574 3,084,294
Operating Expenditures
Personnel and current expenditures
41520.00 Finance 82,682 82,682 98,023 (15,341) 119%79,520 (18,503)
49400.00 Water 1,971,817 1,973,090 2,582,050 (608,960) 131%2,541,929 (40,121)
2,054,499 2,055,772 2,680,073 (624,301) 130%2,621,449 (58,624)
Interest & other
49400.00 Water - - 42,173 (42,173) n/a - (42,173)
- - 42,173 (42,173) n/a - (42,173)
Capital improvements
55530.00 Infrastructure 3,634,500 3,634,500 3,456 3,631,044 0%- (3,456)
55570.00 Machinery and equipment 124,980 124,980 - 124,980 0%- -
3,759,480 3,759,480 3,456 3,756,024 0%- (3,456)
59203.00 Transfers to other funds 845,545 845,545 1,622,445 (776,900) 192%2,151,421 528,976
Total Expenditures 6,659,524 6,660,797 4,348,147 2,312,650 65%4,772,870 424,723
Net Change 131,550 518,277 5,553,720 2,044,704
COMPARATIVE
City of Prior Lake
Sewer Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 1,664,040 1,664,040 1,576,644 (87,396) 95%1,453,443 123,201
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,511,220 1,511,220 1,405,830 (105,390) 93%1,358,520 47,310
3,175,260 3,175,260 2,982,474 (192,786) 94%2,811,963 170,511
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 268,680 268,680 263,712 (4,968) 98%260,156 3,557
268,680 268,680 263,712 (4,968) 98%260,156 3,557
Water Charges
604-49450.00-37160.00 Penalties 10,000 10,000 24,340 14,340 243%18,654 5,687
10,000 10,000 24,340 14,340 243%18,654 5,687
Interest (losses) on investments
604-00000.00-36210.00 Interest Earnings 18,500 18,500 33,833 15,333 183%20,709 13,124
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (9,270) (9,270) n/a (8,352) (918)
18,500 18,500 24,563 6,063 133%12,357 12,206
Miscellaneous Revenues
604-00000.00-36231.00 PERA Pension Contributions - - - - n/a 161 (161)
- - - - n/a 161 (161)
Contribution of assets
604-00000.00-37901.00 Contribution (Other Fund)- - 576,051 576,051 n/a 3,619,544 (3,043,493)
604-00000.00-37902.00 Contribution (Developers)- - 487,277 487,277 n/a 133,351 353,926
- - 1,063,328 1,063,328 n/a 3,752,895 (2,689,567)
Debt Issued
604-00000.00-39310.00 G.O. Bond Proceeds 1,400,000 1,400,000 - (1,400,000) 0%- -
1,400,000 1,400,000 - (1,400,000) 0%- -
Sale of Property
604-00000.00-39310.00 Sale of Property - - 1,185 1,185 n/a - 1,185
- - 1,185 1,185 n/a - (1,185)
Transfers in
39203.00 Transfer from Other Funds - - 17,434 17,434 n/a - 17,434
- - 17,434 17,434 n/a - 17,434
Total Revenues 4,872,440 4,872,440 4,377,036 (495,404) 90%6,856,186 (2,481,518)
Operating Expenditures
Personnel and current expenditures
41520.00 Finance 82,682 82,682 97,405 (14,723) 118%78,129 (19,276)
49450.00 Sewer 2,477,879 2,507,154 2,793,716 (286,562) 111%2,693,017 (100,699)
2,560,561 2,589,836 2,891,121 (301,285) 112%2,771,146 (119,975)
Interest & other
49450.00 Sewer - - 42,173 (42,173) n/a - (42,173)
- - 42,173 (42,173) n/a - (42,173)
Capital improvements
55530.00 Infrastructure 1,830,000 1,830,000 4,459 1,825,541 0%- (4,459)
55570.00 Machinery and equipment 81,297 81,297 - 81,297 0%- -
1,911,297 1,911,297 4,459 1,906,838 0%- (4,459)
59203.00 Transfers to other funds 271,109 271,109 1,117,033 (845,924) 412%1,232,910 115,877
Total Expenditures 4,742,967 4,772,242 4,054,786 717,456 85%4,004,056 (50,730)
Net Change 129,473 100,198 322,250 2,852,130
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 916,326 916,326 982,174 65,848 107%922,304 59,870
916,326 916,326 982,174 65,848 107%922,304 59,870
Water Charges
602-49420.00-37160.00 Penalties - - 4,164 4,164 n/a 3,684 481
- - 4,164 4,164 n/a 3,684 481
Intergovernmental
602-00000.00-33422.10 State Aids/Grants - - 5,002 5,002 n/a 5,407 (405)
602-49420.00-33633.00 Watershed Dist Grants/Aid - 130,000 130,000 - 100%- 130,000
602-49420.00-32250.00 Wetland Application Fee - - 900 900 n/a - 900
- 130,000 135,902 5,902 105%5,407 130,495
Interest (losses) on investments
602-00000.00-36210.00 Interest Earnings 12,000 12,000 16,688 4,688 139%14,872 1,816
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (9,288) (9,288) n/a (7,060) (2,228)
12,000 12,000 7,400 (4,600) 62%7,812 (412)
Contribution of assets
602-00000.00-37901.00 Contribution (Other Fund)- - 361,550 361,550 n/a 323,553 37,997
602-00000.00-37902.00 Contribution (Developers)- - 66,473 66,473 n/a 19,600 46,873
- - 428,023 428,023 n/a 343,153 84,870
Transfers in
602-00000.00-39203.00 Transfer from Other Funds - 143,612 143,612 (0) 100%42,093 101,519
- 143,612 143,612 (0) 100%42,093 101,519
Miscellaneous Revenues
602-00000.00-36212.00 Miscellaneous Revenue - - - - n/a 120 (120)
602-00000.00-36231.00 PERA Pension Contributions - - - - n/a 80 (80)
- - - - n/a 200 (200)
Total Revenues 928,326 1,201,938 1,701,274 499,336 142%1,324,653 376,621
Operating Expenditures
Personnel and current expenditures
49420.00 Sewer 532,064 532,064 577,396 (45,332) 109%613,508 36,112
532,064 532,064 577,396 (45,332) 109%613,508 36,112
Capital improvements
55040.00 ROW & property acquisition - 143,612 - 143,612 0%- -
55530.00 Infrastructure 389,605 722,356 24,412 697,944 3%20,052 (4,360)
389,605 865,968 24,412 841,556 3%20,052 (4,360)
59203.00 Transfers to other funds 77,000 77,000 480,666 (403,666) 624%455,215 (25,451)
Total Expenditures 998,669 1,475,032 1,082,474 392,558 73%1,088,775 6,301
Net Change (70,343) (273,094) 618,800 235,878
COMPARATIVE
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 12/31/2018
(Preliminary & Unaudited)
Variance from Variance
2018 2018 2018 Amended Budget - % BDGT Actual from 2017
Budget Amended Actual Positive (Negative)USED 12/31/2017 Positive (Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 140,000 140,000 139,511 (489) 100%139,358 154
Taxes 140,000 140,000 139,511 (489) 100%139,358 154
Charges for Services
240-46503.00-34760.02 Facility Rental - EDA 7,820 7,820 8,018 198 103%8,293 (275)
Charges for Services 7,820 7,820 8,018 198 103%8,293 (275)
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 2,700 2,700 8,544 5,844 316%3,093 5,451
240-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - (2,163) (2,163) n/a (1,570) (593)
Interest (losses) on investments 2,700 2,700 6,380 3,680 236%1,523 (4,857)
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 150,520 450,520 453,909 3,389 101%149,174 304,736
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 145,777 145,777 145,491 286 100%97,161 (48,330)
46503.00 TECH VILLAGE INCUBATOR 7,820 7,820 4,362 3,458 56%1,336 (3,026)
Total Expenditures 153,597 153,597 149,853 3,744 98%98,497 (51,356)
Net Change (3,077) 296,923 304,056 50,676
COMPARATIVE