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Home My WebLink About01(A) - 2021 Preliminary Budget and Tax Levy Report City of Prior Lake9/8 Council Workshop 2021 BudgetAttachment 1 Budgeted FundsCapital Revolving Revolving Park Permanent Facilities Total TotalGeneral Debt Cable Park Equipment Equipment Improvement Management EDA Governmental Water Sewer Water Quality Enterprise BudgetedFund Service Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds FundsRevenues / SourcesProperty TaxesLevy - Tax Capacity Operating 9,237,218$ -$ -$ 650,000$ 375,000$ 120,000$ 80,000$ 349,750$ 10,811,968$ -$ -$ -$ -$ 10,811,968$ Levy - Tax Capacity Debt Service 3,121,498$ 185,000 3,306,498$ 3,306,498$ Levy - Market Value 253,575 - - - - - - - 253,575 - - - - 253,575 Levy - - - - - - - - - - - - - - - Special Assessments - 446,370 - - - - 173,000 - - 619,370 - - - - 619,370 Licenses & Permits 795,552 - - - - - - - - 795,552 - - - - 795,552 Fines & Forfeits - - - - - - - - - - - - - - - Intergovernmental 2,030,735 - - - - - - - - 2,030,735 - - - - 2,030,735 Charges for Services 1,800,171 - 28,000 455,000 - - - - 8,450 2,291,621 4,600,174 4,505,442 1,214,092 10,319,708 12,611,329 Other Revenues 240,800 46,406 - 22,700 9,600 10,500 7,800 5,800 5,300 348,906 54,600 19,800 14,500 88,900 437,806 Bond Proceeds - - - - 555,000 - 163,200 - - 718,200 - - - - 718,200 Lease Proceeds - - - - - - - - - - - - - - - Transfers From Other FundsGeneral Fund - 253,575 - - - - - - - 253,575 - - - - 253,575 Debt Service Funds - 75,000 - - - - - - - 75,000 - - - - 75,000 Water Fund 523,000 565,700 - - 145,000 - - 117,000 - 1,350,700 - - - - 1,350,700 Sewer Fund - - - - 145,000 - - 13,000 - 158,000 - - - - 158,000 Water Quality Fund - - - - 20,000 - - - - 20,000 - - - - 20,000 Trunk Reserve Fund - - - - - - - - - - - - - - - TIF Fund - 25,500 - - - - - - - 25,500 - - - - 25,500 PIR Fund - 287,150 - - - - - - - 287,150 - - - - 287,150 Facilities Management Fund - - - - - - - - - - - - - - - Capital Park Fund - - - - - - - - - - - - - - - Police Forfeiture Fund - - - - - - - - - - - - - - - Total Revenues / Sources 14,881,051$ 4,821,199$ 28,000$ 477,700$ 1,709,600$ 385,500$ 464,000$ 215,800$ 363,500$ 23,346,350$ 4,654,774$ 4,525,242$ 1,228,592$ 10,408,608$ 33,754,958$ Expenditures / UsesEmployee Services 10,646,340$ -$ -$ -$ -$ -$ -$ -$ 135,422$ 10,781,762$ 825,245$ 807,538$ 366,593$ 1,999,376$ 12,781,138$ Current Expenditures 4,106,636 - - - - - - - 388,750 4,495,386 1,312,800 1,970,307 255,800 3,538,907 8,034,293 Capital Outlay 9,500 - - 1,781,000 595,000 - - 500 2,386,000 150,750 90,250 - 241,000 2,627,000 Capital Improvements - - - 400,000$ - - - 447,600 - 847,600 1,918,000 609,500 370,000 2,897,500 3,745,100 Subtotal 14,762,476$ -$ -$ 400,000$ 1,781,000$ 595,000$ -$ 447,600$ 524,672$ 18,510,748$ 4,206,795$ 3,477,595$ 992,393$ 8,676,783$ 27,187,531$ Transfers To Other FundsGeneral Fund -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 208,000$ 208,000$ 107,000$ 523,000$ 523,000$ Treatment Plant (Debt) - - - - - - - - - - 565,700 - - 565,700 565,700 Equipment Fund - - - - - - - - - - 145,000 145,000 20,000 310,000 310,000 Park Equipment Fund - - - - - - - - - - - - - - - Debt Service Funds 253,575 75,000 - - - - 287,150 - - 615,725 - - - - 615,725 PIR Fund - - - - - - - - - - - - - - - Facilities Management Fund - - - - - - - - - - 117,000 13,000 - 130,000 130,000 EDA Fund - - - - - - - - - - - - - - - Severance Compensation Fund - - - - - - - - - - - - - - - Contingency - - - - - - - - - - - - - - - Debt Service - 5,243,627 - - - - - - - 5,243,627 169,650 169,650 - 339,300 5,582,927 Subtotal 253,575$ 5,318,627$ -$ -$ -$ -$ 287,150$ -$ -$ 5,859,352$ 1,205,350$ 535,650$ 127,000$ 1,868,000$ 7,727,352$ Total Expenditures / Uses 15,016,051$ 5,318,627$ -$ 400,000$ 1,781,000$ 595,000$ 287,150$ 447,600$ 524,672$ 24,370,100$ 5,412,145$ 4,013,245$ 1,119,393$ 10,544,783$ 34,914,883$ Change in Fund Balance (135,000)$ (497,428)$ 28,000$ 77,700$ (71,400)$ (209,500)$ 176,850$ (231,800)$ (161,172)$ (1,023,750)$ (757,371)$ 511,997$ 109,199$ (136,175)$ (1,159,925)$ 2021 Property Tax Levy Comparison9/8 Council WorkshopAttachment 1Change 20 - 21Property Taxes 2020 2021 Amount PercentLevy - Tax Capacity General Fund - Operating 8,711,099$ 9,237,218$ 526,119$ 6.04% Debt Service 3,319,231 3,306,498 (12,733) -0.38% Revolving Equipment Fund 625,000 650,000 25,000 4.00% Revolving Park Equipment Fund 319,000 375,000 56,000 17.55%Permanent Improvement Revolving Fund 80,000 120,000 40,000 50.00% Facilities Management Fund 30,000 80,000 50,000 166.67%Levy - Economic Dev Authority 274,750 349,750 75,000 27.30%13,359,080 14,118,466 759,386 5.68%Levy - Market Value - General Fund 242,057 253,575 11,518 4.76%Total Levy 13,601,137$ 14,372,041$ 770,904$ 5.67%2021 Budget Expenditure Comparisons (2020 Original Budgets)Capital Revolving Revolving Park Permanent Facilities Total TotalGeneral Debt Service Cable Park EquipmentEquipmentImprovement Management EDAGovernmental Water Sewer Water Quality Enterprise BudgetedFund Funds Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds Funds2021 Total Expenditures / Uses 15,016,051$ 5,318,627$ -$ 400,000$ 1,781,000$ 595,000$ 287,150$ 447,600$ 524,672$ 24,370,100$ 5,412,145$ 4,013,245$ 1,119,393$ 10,544,783$ 34,914,883$ 2020 Total Expenditures / Uses 14,656,748$ 5,432,317$ 9,200$ -$ 1,200,000$ 346,000$ 979,933$ 114,000$ 453,135$ 23,191,333$ 3,401,315$ 3,465,196$ 819,692$ 7,686,203$ 30,877,536$ Change 2020 to 2021 ($) 359,303$ (113,690)$ (9,200)$ 400,000$ 581,000$ 249,000$ (692,783)$ 333,600$ 71,537$ 1,178,767$ 2,010,830$ 548,049$ 299,701$ 2,858,580$ 4,037,347$ Change 2020 to 2021 (%) 2.45% -2.09% -100.00% n/a 48.42% 71.97% n/a 292.63% 15.79% 5.08% 59.12% 15.82% 36.56% 37.19% 13.08%2021 Budget Expenditure Comparisons (2020 Amended Budgets)Capital Revolving Revolving Park Permanent Facilities Total TotalGeneral Debt Service Cable Park EquipmentEquipmentImprovement Management EDAGovernmental Water Sewer Water Quality Enterprise BudgetedFund Funds Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds Funds2021 Total Expenditures / Uses 15,016,051$ 5,318,627$ -$ 400,000$ 1,781,000$ 595,000$ 287,150$ 447,600$ 524,672$ 24,370,100$ 5,412,145$ 4,013,245$ 1,119,393$ 10,544,783$ 34,914,883$ 2020 Total Expenditures / Uses 14,780,210$ 5,432,317$ 9,200$ -$ 1,460,183$ 542,000$ 979,933$ 234,000$ 453,135$ 23,890,978$ 3,427,595$ 3,491,476$ 819,692$ 7,738,763$ 31,629,741$ Change 2020 to 2021 ($) 235,841$ (113,690)$ (9,200)$ 400,000$ 320,817$ 53,000$ (692,783)$ 213,600$ 71,537$ 479,122$ 1,984,550$ 521,769$ 299,701$ 2,806,020$ 3,285,142$ Change 2020 to 2021 (%) 1.60% -2.09% -100.00% n/a 21.97% 9.78% -70.70% 91.28% 15.79% 2.01% 57.90% 14.94% 36.56% 36.26% 10.39%