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Home My WebLink About05(D) - Approve the Preliminary 3rd Quarter 2020 Financial Reports ReportCity of Prior Lake General Fund Summary 2020 Projection Variance from 2020 2020 2020 Amended Budget - % BDGT Budget Amended Projection Positive (Negative)USED Revenues Taxes 8,953,156 8,953,156 8,684,561 (270,000) 97% Licenses and Permits 830,464 830,464 910,889 80,000 110% Intergovernmental 2,126,362 2,126,362 2,026,362 (100,000) 95% Charges for Services 1,808,050 1,808,050 1,654,725 (153,000) 92% Fines and Forfeitures - - - - n/a Interest (losses) on investments 102,700 102,700 82,700 (20,000) 81% Other 164,766 164,766 143,200 (20,000) 87% Transfers in 470,000 470,000 470,000 - 100% Total Revenues 14,455,498 14,455,498 13,972,437 (483,000) 97% Expenditures General Government 3,351,744 3,333,515 3,181,603 145,000 95% Public Safety 6,535,338 6,613,660 6,688,560 (70,000) 101% Public Works 2,200,445 2,215,845 2,106,545 110,000 95% Culture and Recreation 2,166,203 2,214,174 1,745,749 470,000 79% Transfer to other funds 403,018 403,018 403,018 - 100% Contingent Reserve - - - - n/a Total Expenditures 14,656,748 14,780,212 14,125,475 655,000 96% (Use of )/Add to Reserves (201,250) (324,714) (153,037) 172,000 O:\Financial Reporting\2020\11.2 Work Session 2020 Projection\3rd Q 2020 - General Fund 2020 Projection Attachment 3 City of Prior Lake General Fund Summary As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesTaxes 8,953,156 8,953,156 4,791,308 (4,161,848) 54% 4,357,401 433,907 Licenses and Permits830,464 830,464 724,937 (105,527) 87% 775,115 (50,178) Intergovernmental 2,126,362 2,126,362 3,472,977 1,346,615 163% 1,202,495 2,270,482 Charges for Services1,808,050 1,808,050 1,246,656 (561,394) 69% 1,323,213 (76,557) Fines and Forfeitures‐ ‐ 320 320 n/a 962 (642) Interest (losses) on investments102,700 102,700 182,186 79,486 177% 223,021 (40,835) Other164,766 164,766 132,505 (32,261) 80% 172,280 (39,775) Transfers in 470,000 470,000 352,500 (117,500) 75% 342,225 10,275 Total Revenues14,455,498 14,455,498 10,903,389 (3,552,109) 75% 8,396,712 2,506,677 ExpendituresGeneral Government3,351,744 3,333,514 2,343,029 990,485 70% 2,318,557 (24,472) Public Safety6,535,338 6,613,660 4,433,742 2,179,918 67% 4,087,844 (345,898) Public Works 2,200,445 2,215,845 1,331,375 884,470 60% 1,412,387 81,012 Culture and Recreation2,166,203 2,214,173 1,146,647 1,067,526 52% 1,360,292 213,645 Transfer to other funds403,018 403,018 201,958 201,060 50% 142,209 (59,749) Total Expenditures14,656,748 14,780,210 9,456,751 5,323,459 64% 9,321,289 (135,462) Net Change(201,250) (324,712) 1,446,638 (924,577) COMPARATIVE City of Prior Lake General Fund Revenues As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive ( Negative) USED9/30/2019Positive (Negative)Taxes101 31010.00 Current Property Taxes ‐ General Purpos 7,937,036 7,937,036 4,216,639 (3,720,397) 53% 3,835,725 380,914 101 31020.00 Delinquent Property Taxes ‐ General Purp‐ ‐ 21,907 21,907 n/a 30,402 (8,495) 101 31040.00 Fiscal Disparities 1,016,120 1,016,120 552,762 (463,358) 54% 491,274 61,488 101 33423.00 Market Value Credit Aid‐ ‐ ‐ ‐ n/a‐ ‐ Taxes8,953,156 8,953,156 4,791,308 (4,161,848) 54% 4,357,401 433,907 Licenses and Permits101 32100.00 Business Licenses 840 840 735 (105) 88% 945 (210) 101 32110.00 Liquor Licenses 75,790 75,790 38,290 (37,500) 51% 72,540 (34,250) 101 32160.00 Refuse Haulers 4,500 4,500 4,585 85 102% 4,835 (250) 101 32180.00 Cigarette Licenses 2,295 2,295 ‐ (2,295) 0% 2,295 (2,295) 101 32210.00 Building Permits 577,168 577,168 569,913 (7,255) 99% 567,254 2,659 101 32211.00 Retainage Forfeiture‐ ‐ ‐ ‐ n/a‐ ‐ 101 32215.00 Mechanical Permits 89,340 89,340 58,394 (30,946) 65% 63,271 (4,877) 101 32230.00 Plumbing Permits 64,118 64,118 40,577 (23,541) 63% 41,386 (809) 101 32231.00 Sewer/Water Inspection 7,628 7,628 7,423 (205) 97% 10,179 (2,756) 101 32232.00 Plumbing Registrations 1,200 1,200 660 (540) 55% 1,790 (1,130) 101 32240.00 Animal Licenses‐ ‐ ‐ ‐ n/a 4,390 (4,390) 101 32260.00 Burning Permits 4,000 4,000 2,920 3,000 73% 3,080 (160) 101 32270.00 Short‐term Rental Fee 2,665 2,665 820 (1,845) 31% 2,050 (1,230) 101 32175.00 Public Private Gathering Permit 720 720 170 (550) 24% 600 (430) 101 32190.00 Community Event Application 200 200 450 250 225% 500 (50) Licenses and Permits 830,464 830,464 724,937 (105,527) 87% 775,115 (50,178) Intergovernmental101 33160.10 Fed Aids/Grants ‐ Operating Grants‐ ‐ 1,982,322 1,982,322 n/a‐ 1,982,322 101 33160.11 Fed Aids/Grants ‐ Operating Police 10,000 10,000 3,754 (6,246) 38% 1,259 2,495 101 33401.00 Local Government Aid 11,905 11,905 ‐ (11,905) 0% 5,953 (5,953) 101 33416.01 State Aid ‐ Police Train 20,000 20,000 25,405 5,405 127% 24,854 551 101 33416.02 State Police Aid‐Ins Prem 228,990 228,990 ‐ (228,990) 0%‐ ‐ 101 33417.00 State Aid ‐ Fire Training 10,000 10,000 ‐ (10,000) 0% 36,631 (36,631) 101 33418.00 State Road & Bridge Aid 377,000 377,000 376,246 (754) 100% 340,926 35,320 101 33420.00 State Fire Aid‐Ins. Prem. 232,650 232,650 1,000 (231,650) 0% 4,000 (3,000) 101 33422.10 State Aids/Grants ‐ Operating Grants 14,000 14,000 11,485 (2,515) 82%‐ 11,485 102 33422.11 State Aids/Grants ‐ Operating Police 3,000 3,000 ‐ (3,000) 0% 900 (900) 101 33610.11 County Aids/Grants ‐ Operating Police‐ ‐ 1,000 1,000 n/a 1,000 ‐ 101 33620.00 Township Fire & Resc Aid 364,147 364,147 365,765 1,618 100% 314,136 51,629 101 33621.00 Liaison Aid 54,670 54,670 ‐ (54,670) 0%‐ ‐ 101 33631.00 Payment in Lieu of Taxes 800,000 800,000 700,000 (100,000) 88% 450,000 250,000 101 33700.11 Miscellaneous Grants ‐ Operating Police‐ ‐ 6,000 6,000 n/a 22,836 (16,836) Intergovernmental 2,126,362 2,126,362 3,472,977 1,346,615 163% 1,202,495 2,270,482 COMPARATIVE City of Prior Lake General Fund Revenues As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive ( Negative) USED9/30/2019Positive (Negative)COMPARATIVECharges for Services101 31810.00 Franchise Taxes 630,000 630,000 326,001 (303,999) 52% 318,045 7,956 101 34103.00 Zoning & Subdivision Fees 30,000 30,000 27,786 (2,214) 93% 23,534 4,252 101 34104.00 Plan Check Fees 320,487 320,487 298,722 (21,765) 93% 289,383 9,339 101 34105.00 Sale of Maps/Publications ‐ Reports 500 500 375 (125) 75% 837 (462) 101 34107.00 Assessment Searches ‐ Reports 400 400 1,100 700 275% 550 550 101 34109.00 Project Admin/Eng Fees 122,000 122,000 30,505 (91,495) 25% 47,961 (17,456) 101 34203.00 Accident/Warrant Reports ‐ Reports 200 200 35 (165) 18% 75 (40) 101 34731.00 Adult League Fees 10,000 10,000 270 (9,730) 3% 9,794 (9,524) 101 34735.00 Recreation Program Fees 43,000 43,000 26,081 (16,919) 61% 40,241 (14,160) 101 34735.01 Recreation Program Fees Regular 9,000 9,000 5,637 (3,363) 63% 15,424 (9,787) 101 34740.00 Concessions ‐ Park Fees 300 300 ‐ (300) 0%‐ ‐ 101 34760.01 Facility Rental ‐ Regular 35,831 35,831 25,762 (10,069) 72% 27,078 (1,316) 101 34761.00 Studio/Pavilion Rental 24,000 24,000 9,410 (14,590) 39% 17,888 (8,478) 101 34762.00 Park Shelter Rental 83,200 83,200 84,812 1,612 102% 54,480 30,332 101 34763.13 Facility Usage Fee (not taxable)‐ ‐ ‐ ‐ n/a 1,200 (1,200) 101 34765.01 Tower Leases 317,582 317,582 299,338 (18,244) 94% 310,692 (11,354) 101 34780.00 Park Admission Fees 30,000 30,000 30,686 686 102% 18,738 11,948 101 34783.00 City Contract Services 151,550 151,550 57,992 (93,558) 38% 137,951 (79,959) 101 36220.16 Prof Services Fee Deposit Bldg Inspectio‐ ‐ 22,144 22,144 n/a 9,342 12,802 Charges for Services 1,808,050 1,808,050 1,246,656 (561,394) 69% 1,323,213 (76,557) Fines and Forfeitures101 35101.00 County Court Fines‐ ‐ 300 300 n/a‐ 300 101 35104.00 Prosecution Restitution‐ ‐ 20 20 n/a 962 (942) Fines and Forfeitures‐ ‐ 320 320 n/a 962 (642) City of Prior Lake General Fund Revenues As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive ( Negative) USED9/30/2019Positive (Negative)COMPARATIVEInterest (losses) on investments101 36210.00 Interest Earnings 102,700 102,700 115,526 12,826 112% 120,860 (5,334) 101 36215.00 Amortization ‐ Premium/Discount‐ ‐ (46,166) (46,166) n/a (12,964) (33,202) 101 36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 112,826 112,826 n/a 122,978 (10,152) 101 36226.00 Realized Inv.Gain(Loss)‐ ‐ ‐ ‐ n/a (7,853) 7,853 Interest (losses) on investments 102,700 102,700 182,186 79,486 177% 223,021 (40,835) Other Miscellaneous Revenues101 36101.00 City Assess. Collection‐ ‐ ‐ ‐ n/a‐ ‐ 101 36102.00 County Assess. Collection 5,000 5,000 1,132 (3,868) 23% 2,008 (876) 101 36211.00 Developer Agreements 130,000 130,000 52,062 (77,938) 40% 113,021 (60,959) 101 36212.00 Miscellaneous Revenue 29,766 29,766 56,743 26,977 191% 39,141 17,602 101 36230.00 Contributions & Donations‐ ‐ 11,247 11,247 n/a 12,719 (1,472) 101 39102.00 Sale of Property‐ ‐ 11,321 11,321 n/a 5,391 5,930 Other Miscellaneous Revenues 164,766 164,766 132,505 (32,261) 80% 172,280 (39,775) Other financing sources101 39203.00 Transfer from Other Funds 470,000 470,000 352,500 (117,500) 75% 342,225 10,275 Other financing sources 470,000 470,000 352,500 (117,500) 75% 342,225 10,275 Total Revenues14,455,498 14,455,498 10,903,389 (3,552,109) 75% 8,396,712 2,506,677 City of Prior Lake General Fund Expenditures As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance from2020 2020 2020 Amended Budget ‐ % BDGTActual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)Function: General Government41110.00 MAYOR & COUNCIL75,507 75,507 47,408 28,099 63% 50,512 3,104 41130.00 ORDINANCE 7,500 7,500 4,126 3,374 55% 2,908 (1,218) 41320.00 ADMINISTRATION 340,473 340,473 247,264 93,209 73% 408,644 161,380 41330.00 BOARDS & COMMISSIONS11,765 11,765 3,818 7,947 32% 6,459 2,641 41400.00 CITY CLERK 116,283 116,283 82,407 33,876 71% 50,829 (31,578) 41410.00 ELECTIONS 34,231 34,231 29,042 5,189 85% 403 (28,639) 41520.00 FINANCE 520,572 523,612 336,469 187,143 64% 342,797 6,328 41540.00 INTERNAL AUDITING 35,475 35,475 31,184 4,291 88% 34,864 3,680 41550.00 ASSESSING 218,704 218,704 214,200 4,504 98% 200,100 (14,100) 41610.00 LEGAL 180,000 180,000 137,494 42,506 76% 104,962 (32,532) 41820.00 HUMAN RESOURCES 306,890 306,890 208,523 98,367 68% 131,369 (77,154) 41830.00 COMMUNICATIONS 180,331 180,331 107,281 73,050 59% 90,074 (17,207) 41910.00 COMMUNITY DEVELOPMENT379,921 379,921 232,734 147,187 61% 222,379 (10,355) 41920.00 INFORMATION TECHNOLOGY 438,494 467,224 326,345 140,879 70% 325,267 (1,078) 41940.00 FACILITIES ‐ CITY HALL 505,598 455,598 334,734 120,864 73% 346,990 12,256 Total ‐ Function General Government 3,351,744 3,333,514 2,343,029 990,485 70% 2,318,557 (24,472) Function: Public Safety42100.00 POLICE 4,848,910 4,855,232 3,467,366 1,387,866 71% 3,166,544 (300,822) 42200.00 FIRE 1,038,440 1,038,440 486,591 551,849 47% 474,749 (11,842) 42400.00 BUILDING INSPECTION 604,313 676,313 450,027 226,286 67% 418,172 (31,855) 42500.00 EMERGENCY MANAGEMENT14,875 14,875 10,163 4,712 68% 9,779 (384) 42700.00 ANIMAL CONTROL28,800 28,800 19,595 9,205 68% 18,600 (995) Total ‐ Function Public Safety 6,535,338 6,613,660 4,433,742 2,179,918 67% 4,087,844 (345,898) Function: Public Works43050.00 ENGINEERING 379,090 379,090 248,875 130,215 66% 239,357 (9,518) 43100.00 STREET 1,338,286 1,353,686 732,220 621,466 54% 897,629 165,409 43400.00 CENTRAL GARAGE 483,069 483,069 350,280 132,789 73% 275,401 (74,879) Total ‐ Function Public Works 2,200,445 2,215,845 1,331,375 884,470 60% 1,412,387 81,012 Function: Culture and Recreation45100.00 RECREATION 474,059 474,059 238,529 235,530 50% 316,793 78,264 45200.00 PARKS 1,623,071 1,671,041 867,960 803,081 52% 992,623 124,663 45500.00 LIBRARIES 69,073 69,073 40,158 28,915 58% 50,876 10,718 Total ‐ Function Culture and Recreation 2,166,203 2,214,173 1,146,647 1,067,526 52% 1,360,292 213,645 00000.00 Transfer to Other Funds 403,018 403,018 201,958 201,060 50% 142,209 (59,749) Total Expenditures14,656,748 14,780,210 9,456,751 5,323,459 64% 9,321,289 (135,462) COMPARATIVE City of Prior LakeExpenditures- Personal Services Category Only (Payroll/Taxes/Benefits)As of 9/30/2020(Preliminary & Unaudited)Variance from Variance from2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)GENERAL FUNDFunction: General Government41110.00 MAYOR & COUNCIL 66,857 66,857 43,723 23,134 65% 45,330 1,607 41320.00 ADMINISTRATION 274,743 274,743 174,014 100,729 63% 370,893 196,879 41330.00 BOARDS & COMMISSIONS 10,765 10,765 3,768 6,997 35% 6,459 2,691 41400.00 CITY CLERK FUNCTIONS 115,093 115,093 81,078 34,015 70% 49,598 (31,480) 41410.00 ELECTIONS 28,231 28,231 18,366 9,865 65% 114 (18,252) 41520.00 FINANCE 502,507 502,507 323,758 178,749 64% 330,998 7,240 41820.00 HUMAN RESOURCES 262,440 262,440 190,778 71,662 73% 106,715 (84,063) 41830.00 COMMUNICATIONS 113,981 113,981 78,047 35,934 68% 74,859 (3,188) 41910.00 COMMUNITY DEVELOPMENT 315,151 315,151 207,513 107,638 66% 204,629 (2,884) 41920.00 INFORMATION TECHNOLOGY 211,666 138,152 102,244 35,908 74% 107,625 5,381 41940.00 FACILITIES ‐ CITY HALL 98,827 48,827 49,471 (644) 101% 65,041 15,570 Total ‐ Function General Government 2,000,261 1,876,746 1,272,760 603,986 68% 1,362,261 89,501 Function: Public Safety42100.00 POLICE 4,270,175 4,270,175 3,165,054 1,105,121 74% 2,882,815 (282,239) 42200.00 FIRE 744,129 744,129 342,360 401,769 46% 294,530 (47,830) 42400.00 BUILDING INSPECTION 549,272 621,272 432,839 188,433 70% 399,093 (33,746) Total ‐ Function Public Safety 5,563,576 5,635,576 3,940,253 1,695,323 70% 3,576,438 (363,815) Function: Public Works43050.00 ENGINEERING 341,628 341,628 219,975 121,653 64% 206,589 (13,386) 43100.00 STREET 468,818 484,218 325,384 158,834 67% 278,852 (46,532) 43400.00 CENTRAL GARAGE 244,744 244,744 162,374 82,370 66% 155,287 (7,087) Total ‐ Function Public Works 1,055,190 1,070,590 707,733 362,857 66% 640,728 (67,005) Function: Culture and Recreation45100.00 RECREATION 351,207 351,207 174,832 176,375 50% 227,156 52,324 45200.00 PARKS 1,107,555 1,118,055 633,348 484,707 57% 726,915 93,567 Total ‐ Function Culture and Recreation 1,458,762 1,469,262 808,180 661,082 55% 954,071 145,891 General Fund Payroll Only Expenditures Total 10,077,789 10,052,175 6,728,926 3,323,249 67% 6,533,498 (195,428) EDA FUNDFunction: Economic Development 46500.00 ECONOMIC DEVELOPMENT 132,793 132,793 100,946 31,847 76% 94,924 (6,022) EDA Fund Payroll Only Expenditures Total 132,793 132,793 100,946 31,847 76% 94,924 (6,022) COMPARATIVE City of Prior LakeExpenditures- Personal Services Category Only (Payroll/Taxes/Benefits)As of 9/30/2020(Preliminary & Unaudited)Variance from Variance from2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)COMPARATIVEWATER FUNDFunction: Water41520.00 Finance 73,219 73,219 52,208 21,011 71% 48,235 (3,973) 49400.00 Water 744,427 728,027 496,586 231,441 68% 471,053 (25,533) Water Fund Payroll Only Expenditures Total 817,646 801,246 548,794 252,452 68% 519,288 (29,506) SEWER FUNDFunction: Sewer41520.00 Finance 73,219 73,219 52,266 20,953 71% 48,106 (4,160) 49450.00 Sewer 735,647 717,947 519,425 198,522 72% 471,877 (47,548) Sewer Fund Payroll Only Expenditures Total 808,866 791,166 571,691 219,475 72% 519,983 (51,708) STORM WATER FUNDFunction: Storm Water49420.00 Water Quality 358,912 358,912 230,583 128,329 64% 220,328 (10,255) Storm Water Fund Payroll Only Expenditures Total 358,912 358,912 230,583 128,329 64% 220,328 (10,255) City‐Wide Total Payroll Expenditures 12,196,006 12,136,292 8,180,940 3,955,352 67% 7,888,021 (292,919) City of Prior Lake Debt Service Funds As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesProperty TaxesCurrent Property Taxes 3,319,231 3,319,231 1,772,196 (1,547,035) 53% 1,689,839 82,357 Special AssessmentsCity Assess. Collections‐ ‐ 69,408 69,408 n/a 84,140 (14,732) County Assess. Collection 488,995 488,995 243,900 (245,095) 50% 248,993 (5,093) Interest (losses) on investmentsInterest Earnings 57,400 57,400 53,134 (4,266) 93% 64,774 (11,640) Unrealized Inv.Gain(Loss)‐ ‐ 54,880 54,880 n/a 63,980 (9,100) Miscellaneous RevenuesMiscellaneous Revenues‐ ‐ ‐ ‐ n/a‐ ‐ Other Financing SourcesTransfer from Other Funds 1,214,646 1,214,646 147,003 (1,067,643) 12% 141,580 5,423 Total Revenues5,080,272 5,080,272 2,340,521 (2,739,751) 46% 2,293,306 47,215 ExpendituresDebt ServicePrincipal 4,199,126 4,199,126 133,854 4,065,272 3% 131,062 (2,792) Interest and Other 1,118,116 1,118,116 583,853 534,263 52% 615,096 31,243 Bond Issuance Costs 5,075 5,075 1,990 3,085 39% 1,740 (250) Refunded Assessment Pmts‐ ‐ ‐ ‐ n/a‐ ‐ Transfers to Other Funds 110,000 110,000 ‐ 110,000 0%‐ ‐ Total Expenditures5,432,317 5,432,317 719,697 4,712,620 13% 747,898 28,201 Net Change(352,045) (352,045) 1,620,824 1,545,408 COMPARATIVE City of Prior Lake Cable Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesCharges for Services210‐41340.00‐34304.00PEG Access Fees 32,000 32,000 13,428 (18,572) 42% 14,737 (1,309) Interest (losses) on investments210‐41340.00‐36210.00Interest Earnings‐ ‐ 1,102 1,102 n/a 1,278 (176) 210‐41340.00‐36225.00Unrealized Inv. Gain (Loss)‐ ‐ 1,297 1,297 n/a 1,255 42 Total Revenues32,000 32,000 15,827 (16,173) 49% 17,270 (1,443) ExpendituresCurrent Expenditures210‐41340.00‐52400.20Small Equipment ‐ Technology‐ ‐ 296 (296) n/a 243 (53) 210‐41340.00‐53210.00Telecommunications‐ ‐ 4,427 (4,427) n/a‐ (4,427) 210‐41340.00‐54020.00Software Service Contract 1,200 1,200 ‐ 1,200 0%‐ ‐ Capital Outlay210‐41340.00‐55570.00Machinery and Equipment 8,000 8,000 6,399 1,601 80%‐ (6,399) Total Expenditures9,200 9,200 11,122 (1,922) 121% 243 (10,879) Net Change22,800 22,800 4,705 17,027 COMPARATIVE City of Prior Lake Capital Park Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGTActual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesCharges for Services225‐45200.00‐34760.01 Facility Rental ‐ Regular 25,200 25,200 18,000 (7,200) 71% 14,700 3,300 225‐45200.00‐34791.00 Dedication Fees 506,000 506,000 150,820 (355,180) 30% 315,000 (164,180) Charges for Services 531,200 531,200 168,820 (362,380) 32% 329,700 (160,880) Intergovernmental225‐45200.00‐33700.20 Miscellaneous ‐ Capital Grants‐ ‐ ‐ ‐ n/a‐ ‐ Intergovernmental‐ ‐ ‐ ‐ n/a‐ ‐ Interest (losses) on investments225‐00000.00‐36210.00 Interest Earnings 26,800 26,800 26,504 (296) 99% 31,350 (4,846) 225‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 32,306 32,306 n/a 31,258 1,048 Interest (losses) on investments 26,800 26,800 58,810 32,010 219% 62,608 (3,798) Contributions and donations225‐00000.00‐36230.00 Contributions & Donations‐ ‐ 3,225 3,225 n/a 4,200 (975) Contributions and donations‐ ‐ 3,225 3,225 n/a 4,200 (975) Total Revenues558,000 558,000 230,855 (327,145) 41% 396,508 (165,653) Expenditures54320.00 Miscellaneous‐ ‐ ‐ ‐ n/a 395 395 53100.80 Professional Services‐General‐ ‐ 11,152 (11,152) n/a 33,678 22,526 55020.00 Projects ‐ Engineering‐ ‐ 66,899 (66,899) n/a 22,336 (44,563) 55530.00 Infrastructure‐ ‐ 1,551 (1,551) n/a 192,457 190,906 Total Expenditures‐ ‐ 79,602 (79,602) n/a 248,866 169,264 Net Change558,000 558,000 151,253 147,642 COMPARATIVE City of Prior Lake Revolving Equipment Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesTaxes410‐00000.00‐31010.00 Current Property Taxes 625,000 625,000 333,930 (291,070) 53% 310,552 23,378 Taxes625,000 625,000 333,930 (291,070) 53% 310,552 23,378 Intergovernmental410‐00000.00‐33422.10 State Aids/Grants ‐ Operating Grants‐ ‐ ‐ ‐ n/a‐ ‐ 410‐00000.00‐33633.20 Watershed Dist Grants/Aid‐Capital Grants‐ ‐ ‐ ‐ n/a‐ ‐ Intergovernmental‐ ‐ ‐ ‐ ‐ ‐ ‐ Interest (losses) on investments410‐00000.00‐36210.00 Interest Earnings 7,000 7,000 9,059 2,059 129% 19,903 (10,844) 410‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 10,590 10,590 n/a 15,177 (4,587) Interest (losses) on investments 7,000 7,000 19,649 12,649 281% 35,080 (15,431) Sale of assets410‐00000.00‐39102.00 Sale of Property 12,000 12,000 41,428 29,428 345% 8,020 33,408 Sale of assets12,000 12,000 41,428 29,428 345% 8,020 33,408 Other410‐42100.06‐39104.00 Forfeiture Property Sales‐ ‐ ‐ ‐ n/a‐ ‐ Other‐ ‐ ‐ ‐ n/a‐ ‐ Transfers in410‐00000.00‐39203.00 Transfer from Other Funds 180,000 180,000 135,000 (45,000) 75% 120,000 15,000 Transfers in180,000 180,000 135,000 (45,000) 75% 120,000 15,000 OTHER FINANCING SOURCESDebt Issued410‐00000.00‐39310.00 G.O. Bond Proceeds 115,000 115,000 ‐ (115,000) 0% 215,000 (215,000) Premium on debt issued410‐43100.00‐55110.00 Projects ‐ Bond Discount/Premium‐ ‐ ‐ ‐ n/a 40,040 (40,040) 115,000 115,000 ‐ (115,000) 0% 255,040 (255,040) Total Revenues939,000 939,000 530,007 (408,993) 56% 728,692 (198,685) COMPARATIVE City of Prior Lake Revolving Equipment Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)COMPARATIVEExpendituresPublic SafetyPolice410‐42100.00‐55550.00 Vehicles 191,000 191,000 164,252 26,748 86% 11,362 (152,890) 410‐42100.00‐55570.00 Machinery & Equipment 252,000 277,580 221,611 55,969 80% 9,574 (212,037) Fire410‐42200.00‐55070.00 Projects ‐ Bond Issuance Costs‐ ‐ ‐ ‐ n/a 5,856 5,856 410‐42200.00‐55110.00 Projects ‐ Bond Discount/Premium‐ ‐ ‐ ‐ n/a‐ ‐ 410‐42200.00‐55550.00 Vehicles 65,000 65,000 46,009 18,991 71% 467,508 421,499 410‐42200.00‐55570.00 Machinery & Equipment 50,000 50,000 48,715 1,285 97%‐ (48,715) Building Inspection410‐42400.00‐55550.00 Vehicles 32,000 32,000 31,907 ‐ 100% 30,539 (1,368) Total Public Safety 590,000 615,580 512,494 102,993 83% 524,839 12,345 Public WorksStreet410‐43100.00‐55550.00 Vehicles 257,000 491,603 308,465 183,138 63% 86,376 (222,089) 410‐43100.00‐55570.00 Machinery & Equipment‐ ‐ 41,550 (41,550) n/a 737 (40,813) Central Garage410‐43400.00‐55550.00 Vehicles 20,000 20,000 15,333 4,667 77% 18,739 3,406 Total Public Works 277,000 511,603 365,348 146,255 71% 105,852 (259,496) Culture and Recreation/Parks410‐45200.00‐55550.00 Vehicles 258,000 258,000 ‐ 258,000 0%‐ ‐ 410‐45200.00‐55570.00 Machinery and Equipment 75,000 75,000 63,384 11,616 85% 90,835 27,451 Total Culture & Recreation 333,000 333,000 63,384 269,616 19% 90,835 27,451 Water410‐49400.00‐55570.00 Machinery and Equipment‐ ‐ ‐ ‐ n/a 55,549 55,549 Water Quality410‐49420.00‐55550.00 Vehicles‐ ‐ ‐ ‐ n/a‐ ‐ Total Utility‐ ‐ ‐ ‐ n/a 55,549 55,549 Total Expenditures1,200,000 1,460,183 941,226 518,864 64% 777,075 (164,151) Net Change(261,000) (521,183) (411,219) (48,383) City of Prior Lake Revolving Park Equipment Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGTActual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesTaxes430‐00000.00‐31010.00 Current Property Taxes 319,000 319,000 170,252 (148,748) 53% 149,817 20,435 Taxes319,000 319,000 170,252 (148,748) 53% 149,817 20,435 Interest (losses) on investments430‐00000.00‐36210.00 Interest Earnings 9,000 9,000 14,204 5,204 158% 13,734 470 430‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 16,220 16,220 n/a 13,792 2,428 Interest (losses) on investments 9,000 9,000 30,424 21,424 338% 27,526 2,898 Other430‐45200.00‐36230.00 Contributions & Donations‐ ‐ ‐ ‐ n/a‐ ‐ Other‐ ‐ ‐ ‐ n/a‐ ‐ Total Revenues328,000 328,000 200,676 (127,324) 61% 177,343 23,333 ExpendituresCulture and Recreation/Parks430‐45200.00‐55530.00 Infrastructure 346,000 542,000 30,350 511,650 6% 114,635 84,285 Total Culture & Recreation 346,000 542,000 30,350 511,650 6% 114,635 84,285 Total Expenditures346,000 542,000 30,350 511,650 6% 114,635 84,285 Net Change(18,000) (214,000) 170,326 62,708 COMPARATIVE City of Prior Lake Facilities Management Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesTaxes440‐00000.00‐31010.00 Current Property Taxes30,000 30,000 15,776 (14,224) 53%‐ 15,776 Taxes30,000 30,000 15,776 (14,224) 53%‐ 15,776 Interest (losses) on investments440‐00000.00‐36210.00 Interest Earnings 9,000 9,000 7,280 (1,720) 81% 7,735 (455) 440‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 8,668 8,668 n/a 7,739 929 Interest (losses) on investments9,000 9,000 15,948 6,948 177% 15,474 474 Transfers in440‐00000.00‐39203.00 Transfer from Other Funds 99,000 99,000 74,250 (24,750) 75% 71,195 3,055 Transfers in99,000 99,000 74,250 (24,750) 75% 71,195 3,055 Debt Issued440‐42200.00‐39310.00 G.O. Bond Proceeds‐FIRE‐ ‐ ‐ ‐ n/a‐ ‐ 440‐42200.00‐39315.00 Projects‐Bond Premium‐ ‐ ‐ ‐ n/a‐ Debt Issued‐ ‐ ‐ ‐ n/a‐ ‐ Total Revenues138,000 138,000 105,974 (32,026) 77% 86,669 19,305 ExpendituresFunction: General Government00000.00 Transfers to Other Funds‐ ‐ ‐ ‐ n/a‐ ‐ 41940‐55050.00 Projects Professional Svcs‐ FACILITIES ‐ CITY HALL‐ ‐ 10,660 (10,660) n/a 10,349 (310) 41940‐55520.00 Building & Building Improvements‐FACILITIES ‐ CITY HAL‐ 120,000 ‐ 120,000 0%‐ ‐ 41940‐55570.00 Machinery & Equipment‐FACILITIES ‐ CITY HALL‐ ‐ ‐ ‐ n/a‐ ‐ Total ‐ Function General Government‐ 120,000 10,660 109,340 9% 10,349 (310) Function: Public Safety42200‐55070.00 Projects‐Bond Inssuance Costs‐FIRE‐ ‐ ‐ ‐ n/a‐ ‐ 42200‐55520.00 Projects‐Publication‐FIRE‐ ‐ ‐ ‐ n/a‐ ‐ 42200‐55520.00 Building & Building Improvements‐FIRE 20,000 20,000 10,357 9,643 52%‐ (10,357) 42200‐55570.00 Machinery & Equipment‐FIRE‐ ‐ ‐ ‐ n/a‐ ‐ Total ‐ Function Public Safety20,000 20,000 10,357 9,643 52%‐ (10,357) Function: Culture and Recreation45500.00 LIBRARIES 84,000 84,000 50,958 33,042 61% 32,637 (18,321) Total ‐ Function Culture and Recreation84,000 84,000 50,958 33,042 61% 32,637 (18,321) Function: Water49400.00 Building & Building Improvements 10,000 10,000 6,885 3,115 69% 5,940 (945) Total ‐ Function Culture and Recreation10,000 10,000 6,885 3,115 69% 5,940 (945) Total Expenditures114,000 234,000 78,860 155,140 34% 48,926 (29,933) Net Change24,000 (96,000) 27,114 37,743 COMPARATIVE City of Prior Lake Permanent Improvement Revolving Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGTActual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesTaxes450‐00000.00‐31010.00 Property Taxes ‐ General Purpose 80,000 80,000 42,727 (37,273) 53% 49,130 (6,403) Taxes80,000 80,000 42,727 (37,273) 53% 49,130 (6,403) Special Assessments450‐00000.00‐36101.00 City Assess. Collections 305,390 305,390 78,811 (226,579) 26% 17,184 61,627 450‐00000.00‐36102.00 County Assess. Collection‐ ‐ 76,168 76,168 n/a 54,227 21,941 305,390 305,390 154,979 (150,411) 51% 71,411 83,568 Interest (losses) on investments450‐00000.00‐36210.00 Interest Earnings 6,477 6,477 9,759 3,282 151% 9,331 428 450‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 13,416 13,416 n/a 9,744 3,672 Interest (losses) on investments 6,477 6,477 23,175 16,698 358% 19,075 4,100 Transfers in450‐00000.00‐39203.00 Transfer from Other Funds‐ ‐ 257,935 257,935 n/a‐ 257,935 Transfers in‐ ‐ 257,935 257,935 n/a‐ 257,935 Debt Issued450‐00000.00‐39310.00 G.O. Bond Proceeds 490,000 490,000 ‐ (490,000) 0% 400,000 (400,000) Debt Issued490,000 490,000 ‐ (490,000) 0% 400,000 (400,000) OTHER FINANCING SOURCES450‐43100.00‐39315.00 Projects ‐ Bond Premium‐ ‐ ‐ ‐ n/a 48,709 48,709 Total Revenues881,867 881,867 478,816 (403,051) 54% 588,325 (12,091) ExpendituresFunction: Public Works450‐43100.00‐54010.01 Maint Agreements ‐ General 700,000 700,000 590,277 109,723 84% 664,954 74,677 450‐43100.00‐55070.00‐PIR19‐000001 Projects ‐ Bond Issuance Costs‐ ‐ ‐ ‐ n/a 10,894 10,894 Total ‐ Function Public Works 700,000 700,000 590,277 109,723 84% 675,848 85,571 OTHER FINANCING USESTransfers out450‐80000.00‐59203.00 Transfers to Other Funds 279,933 279,933 29,633 250,300 11% 19,233 (10,400) Total Expenditures979,933 979,933 619,910 360,023 63% 695,081 75,171 Net Change(98,066) (98,066) (141,094) (106,756) COMPARATIVE City of Prior Lake Water Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesOperating RevenueWater Charges601‐49400.00‐37100.00 Utility Receipts ‐ Water 4,068,698 4,068,698 2,291,244 (1,777,454) 56% 1,732,241 559,003 601‐49400.00‐37160.00 Penalties 20,000 20,000 7,088 (12,912) 35% 13,262 (6,174) 4,088,698 4,088,698 2,298,332 (1,790,366) 56% 1,745,503 552,829 Capital Facility charges601‐49400.00‐37110.00 Capital Facility Revenue 278,220 278,220 152,381 (125,839) 55% 159,465 (7,084) 278,220 278,220 152,381 (125,839) 55% 159,465 (7,084) Meter Sales601‐49400.00‐37170.00 Water Meter Sales 79,825 79,825 76,706 (3,119) 96% 98,010 (21,304) 601‐49400.00‐37175.00 Pressure Reducers 23,000 23,000 16,300 (6,700) 71% 22,761 (6,461) 102,825 102,825 93,006 (9,819) 90% 120,771 (27,765) Total Operating Revenue4,469,743 4,469,743 2,543,719 (1,926,024) 57% 2,025,739 517,980 Non‐Operating RevenueIntergovernmental601‐00000.00‐33422.15 State Aids/Grants ‐ Operating Public Wo‐ ‐ 1,464 1,464 n/a‐ 1,464 601‐49400.00‐33610.10 County‐City Aids/Grants‐Operations ‐ ‐ ‐ ‐ n/a 572 (572) ‐ ‐ 1,464 1,464 n/a 572 892 Interest (losses) on investments601‐00000.00‐36210.00 Interest Earnings 42,000 42,000 72,307 30,307 172% 79,224 (6,917) 601‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 86,653 86,653 n/a 81,985 4,668 42,000 42,000 158,960 116,960 378% 161,209 (2,249) Miscellaneous Revenues601‐00000.00‐36212.00 Miscellaneous Revenue‐ ‐ 11,520 11,520 n/a 13,995 (2,475) 601‐00000.00‐36102.00 County Assess Collection‐ ‐ 51,255 51,255 n/a 34,252 17,003 601‐49400.00‐37185.00 AMRS Brass Recycling‐ ‐ ‐ ‐ n/a 16,684 (16,684) 601‐49400.00‐37190.00 Miscellaneous Revenue Adj‐ ‐ ‐ ‐ n/a (36) 36 ‐ ‐ 62,775 62,775 ‐ 64,895 (2,120) Total Non‐Operating Revenue42,000 42,000 223,199 181,199 531% 226,676 (3,477) Total Revenues4,511,743 4,511,743 2,766,918 (1,744,825) 61% 2,252,415 514,503 COMPARATIVE City of Prior Lake Water Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)COMPARATIVETotal ExpendituresPersonnel and current expenditures (excluding depreciation)41520.00 Finance 100,574 100,574 70,094 30,480 70% 66,471 (3,623) 49400.00 Water 2,033,027 2,033,027 1,377,733 655,294 68% 1,346,755 (30,978) 2,133,601 2,133,601 1,447,827 685,774 68% 1,413,226 (34,601) Depreciation49400.00 Water‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a‐ ‐ Principal49400.00 Water 120,000 120,000 ‐ 120,000 0%‐ ‐ 120,000 120,000 ‐ 120,000 0%‐ ‐ Interest & other49400.00 Water 54,450 54,450 27,225 27,225 50% 48,875 21,650 54,450 54,450 27,225 27,225 50% 48,875 21,650 Capital improvements55530.00 Infrastructure 40,000 40,000 ‐ 40,000 0% 863,887 863,887 55570.00 Machinery and equipment 112,551 121,281 ‐ 121,281 0% 10,158 10,158 55580.00 Software 17,553 35,103 13,511 21,593 38%‐ (13,511) 170,104 196,384 13,511 182,874 7% 874,045 860,535 57000.00 Loss on Disposal of Assets‐ ‐ ‐ ‐ n/a‐ ‐ Total ‐ Function Water‐ ‐ ‐ ‐ n/a‐ ‐ Total Expenditures2,478,155 2,504,435 1,488,563 1,015,873 2,336,146 847,584 0.0%Other Financing SourcesContribution of assets601‐00000.00‐37901.00 Contribution (Other Fund)‐ ‐ ‐ ‐ n/a 67,140 (67,140) 601‐00000.00‐37902.00 Contribution (Developers)‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a 67,140 (67,140) Total Other Financing Sources‐ ‐ ‐ ‐ n/a 67,140 (67,140) Other Financing Uses59203.00 Transfers to other funds 923,160 923,160 353,495 569,665 442,803 89,308 Total Other Financing Uses923,160 923,160 353,495 569,665 442,803 89,308 Total Expenditures3,401,315 3,427,595 1,842,058 1,585,538 54% 2,711,809 1,004,032 City of Prior Lake Water Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)COMPARATIVENet Change 1,110,428 1,084,148 924,861 (3,330,363) (459,394) (489,529) City of Prior Lake Sewer Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)RevenuesSewer Charges604‐49450.00‐37102.00 Utility Receipts ‐ Sewer 2,263,591 2,263,591 1,085,228 (1,178,363) 48% 806,565 278,663 604‐49450.00‐37104.00 Utility Recpt‐Sewer MCES 1,751,519 1,751,519 1,149,767 (601,752) 66% 984,776 164,991 604‐49450.00‐37160.00 Penalties 20,000 20,000 8,543 (11,457) 43% 18,274 (9,731) 4,035,110 4,035,110 2,243,538 (1,791,572) 56% 1,809,615 433,923 Capital Facility charges604‐49450.00‐37110.00 Capital Facility Revenue 278,220 278,220 152,387 (125,833) 55% 159,471 (7,084) 278,220 278,220 152,387 (125,833) 55% 159,471 (7,084) Total Operating Revenue4,313,330 4,313,330 2,395,925 (1,917,405) 56% 1,969,086 426,839 Non‐Operating RevenueInterest (losses) on investments604‐00000.00‐36210.00 Interest Earnings 21,000 21,000 30,128 9,128 143% 31,051 (923) 604‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 34,290 34,290 n/a 29,147 5,143 21,000 21,000 64,418 43,418 307% 60,198 4,220 Miscellaneous Revenues604‐00000.00‐36102.00 County Assess. Collections‐ ‐ ‐ ‐ n/a‐ ‐ 604‐00000.00‐36212.00 Miscellaneous Revenue‐ ‐ ‐ ‐ n/a 934 (934) 604‐00000.00‐36231.00 PERA Pension Contributions‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a 934 (934) Total Non‐Operating Revenue21,000 21,000 64,418 43,418 307% 61,132 3,286 Total Revenue4,334,330 4,334,330 2,460,343 (1,873,987) 57% 2,030,218 430,125 COMPARATIVE City of Prior Lake Sewer Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019Positive (Negative)COMPARATIVETotal ExpendituresPersonnel and current expenditures (excluding depreciation)41520.00 Finance 100,274 100,274 70,725 29,549 71% 66,342 (4,383) 49450.00 Sewer 2,670,654 2,670,654 1,944,673 725,981 73% 1,803,676 (140,997) 2,770,928 2,770,928 2,015,398 755,530 73% 1,870,018 (145,380) Depreciation49400.00 Sewer‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a‐ ‐ Principal49450.00 Sewer 120,000 120,000 ‐ 120,000 0%‐ ‐ 120,000 120,000 ‐ 120,000 0%‐ ‐ Interest & other49450.00 Sewer 54,450 54,450 27,225 27,225 50% 48,875 21,650 54,450 54,450 27,225 27,225 50% 48,875 21,650 Capital improvements55530.00 Infrastructure 154,500 154,500 ‐ 154,500 0% 321,306 321,306 55570.00 Machinery and equipment 53,655 62,385 ‐ 62,385 0% 39,086 39,086 55580.00 Software 17,553 35,103 12,117 22,986 35%‐ (12,117) 225,708 251,988 12,117 239,871 5% 360,392 348,275 Total Expenditures3,171,086 3,197,366 2,054,740 1,142,626 2,279,285 224,545 Other Financing Uses59203.00 Transfers to other funds294,110 294,110 220,582 73,528 75% 457,860 237,278 Total Other Financing Uses294,110 294,110 220,582 73,528 75% 457,860 237,278 Total Expenditures3,465,196 3,491,476 2,275,322 1,216,154 65% 2,737,145 461,823 Net Change869,134 842,854 185,021 (3,090,141) (706,927) (31,698) City of Prior Lake Water Quality Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)RevenuesStorm Water Charges602‐49420.00‐37120.00 Storm Water Revenue 1,166,677 1,166,677 647,161 (519,516) 55% 575,813 71,348 602‐49420.00‐32250.00 Wetland Application Fee‐ ‐ 600 600 n/a 450 150 1,166,677 1,166,677 647,761 (518,916) 56% 576,263 71,498 Water Charges602‐49420.00‐37160.00 Penalties‐ ‐ 1,408 1,408 n/a 2,868 (1,460) ‐ ‐ 1,408 1,408 n/a 2,868 (1,460) Total Operating Revenue1,166,677 1,166,677 649,169 (517,508) 56% 579,131 70,038 Non‐Operating RevenueIntergovernmental602‐00000.00‐33422.10 State Aids/Grants‐ ‐ ‐ ‐ n/a‐ ‐ 602‐49420.00‐33633.00 Watershed Dist Grants/Aid‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a‐ ‐ Interest (losses) on investments602‐00000.00‐36210.00 Interest Earnings 11,600 11,600 23,186 11,586 200% 15,994 7,192 602‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 27,404 27,404 n/a 15,796 11,608 11,600 11,600 50,590 38,990 436% 31,790 18,800 Miscellaneous Revenues602‐00000.00‐36212.00 Miscellaneous Revenue‐ ‐ 240 240 n/a‐ 240 602‐00000.00‐36231.00 PERA Pension Contributions‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ 240 240 n/a‐ 240 Total Non‐Operating Revenue11,600 11,600 50,830 39,230 438% 31,790 19,040 Total Revenues1,178,277 1,178,277 699,999 (478,278) 59% 610,921 89,078 COMPARATIVE City of Prior Lake Water Quality Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance2020 2020 2020 Amended Budget ‐ % BDGT Actual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)COMPARATIVETotal ExpendituresPersonnel and current expenditures (excluding depreciation)49420.00 Water Quality 658,912 658,912 334,785 324,127 51% 318,328 (16,457) 658,912 658,912 334,785 324,127 51% 318,328 (16,457) Depreciation49400.00 Water Quality‐ ‐ ‐ ‐ n/a‐ ‐ ‐ ‐ ‐ ‐ n/a‐ ‐ Capital improvements55530.00 Infrastructure 75,000 75,000 36,501 38,499 49% 21,779 (14,722) 75,000 75,000 36,501 38,499 49% 21,779 (14,722) Total Expenditures733,912 733,912 371,286 362,626 51% 340,107 (31,179) Other Financing Uses59203.00 Transfers to other funds 85,780 85,780 64,335 21,445 75% 105,795 41,460 Total Other Financing Uses85,780 85,780 64,335 21,445 75% 105,795 41,460 Total Expenditures819,692 819,692 435,621 384,071 53% 445,902 10,281 Net Change358,585 358,585 264,378 (862,349) 165,019 78,797 City of Prior Lake Economic Development Authority Special Revenue Fund As of 9/30/2020 (Preliminary & Unaudited)Variance from Variance 2020 2020 2020 Amended Budget ‐ % BDGTActual from 2019Budget Amended Actual Positive (Negative) USED9/30/2019 Positive (Negative)RevenuesTaxes240‐00000.00‐31010.00 Current Property Taxes 274,750 274,750 146,510 (128,240) 53% 77,779 68,731 Taxes274,750 274,750 146,510 (128,240) 53% 77,779 68,731 Charges for Services240‐46503.00‐34760.02 Facility Rental ‐ EDA 9,575 9,575 5,609 (3,966) 59% 7,369 (1,760) Charges for Services 9,575 9,575 5,609 (3,966) 59% 7,369 (1,760) Interest (losses) on investments240‐00000.00‐36210.00 Interest Earnings 7,560 7,560 5,568 (1,992) 74% 8,622 (3,054) 240‐00000.00‐36225.00 Unrealized Inv.Gain(Loss)‐ ‐ 5,717 5,717 n/a 8,702 (2,985) Interest (losses) on investments 7,560 7,560 11,285 3,725 149% 17,324 6,039 Contributions and Donations240‐00000.00‐36230.00 Contributions and Donations‐ ‐ 4,900 4,900 n/a 2,500 2,400 Contributions and Donations‐ ‐ 4,900 4,900 n/a 2,500 (2,400) Transfers In 240‐00000.00‐39203.00 Transfer from Other Funds 161,250 161,250 161,250 ‐ 100%‐ 161,250 Transfers In 161,250 161,250 161,250 ‐ 100%‐ 161,250 Total Revenues453,135 453,135 329,554 (123,581) 73% 104,972 224,582 ExpendituresFunction: Economic Development46500.00 ECONOMIC DEVELOPMENT 448,035 448,035 394,503 53,532 88% 124,070 (270,433) 46503.00 TECH VILLAGE INCUBATOR 5,100 5,100 1,662 3,438 33% 1,429 (233) Total Expenditures453,135 453,135 396,165 56,970 87% 125,499 (270,666) Net Change‐ ‐ (66,611) (20,527) COMPARATIVE MEMORANDUM DATE: November 2, 2020 TO: Prior Lake City Council FROM: Cathy Erickson, Finance Director RE: Financial Report dated 09/30/2020 The financial reports presented as part of this agenda item reflect activity through the third quarter of 2020. (See Attachment 2- Financial Report) The significant issues identified at this time are summarized below. This report will focus on 2020 activity in relation to budget. The Coronavirus (COVID-19) pandemic has caused significant volatility in economic conditions. Included below is a 2020 General Fund projection that reflects the COVID-19 budget impacts. GENERAL FUND SUMMARY – THROUGH SEPTEMBER 30 Key points for 2020 in relation to budget: Our updated projection of the COVID19 impact on the 2020 budget has improved from our 2nd quarter estimate: • At the end of the 3rd quarter, current estimates indicate we will reduce our planned use of reserves from $325,000 to $192,000 due to our overall revenue projections and planned expenditure reductions. This is a $130,000 reduction in use of our General Fund reserves in 2020 as compared to an additional use of reserves of $90,000 based on information available at the end of the 2nd quarter. Our revenue and expenditure assumptions are detailed below in the 2020 Projection section. • On July 3, the city received Federal CARES Act funds of $ 1,969,018. These funds must be used for eligible expenditures based on U.S. Treasury Department guidance. Receipt of federal funds greater than $750,000 falls under Federal Uniform Guidance Guidelines and the City must follow specific federal rules for internal controls and disbursement of funds. The impact of the CARES Act funding and eligible unbudgeted expenditures is not reflected in the 2020 projection information summarized below. Staff will be treating the CARES Act funding separately, outside of the 2020 projection, until completion of the Federal single audit scheduled for Spring 2021. Preliminary financial information reflects revenues exceeding expenditures by $1,446,638; This is mainly due to the city receiving CARES Act funds of $1,969,018 (This includes $13,304 received from Scott County to fund additional elections costs due to COVID19.) General Fund Revenues Property taxes are received in June, December and January. Revenue from taxes are recognized on a cash basis for the General Fund. Therefore, tax revenues collected in June are reflected in this financial report. 1st half revenue collections were 51.0% of the levy total as compared to 51.6% in the prior year. The County has allowed taxpayers to apply for a tax deferment to 7/15/20. Additional tax revenues collected in August totaled $181,318. For the City of Prior Lake there were 22 parcels that received a tax deferment for a total of $20,000. We are anticipating a property tax delinquency rate between 1% - 3%. The League of MN Cities and related cities lobbying group have recommended 3% as a guideline for the property tax delinquency rate based on input from the MLC member cities. We have used this rate in our 2020 projection assumptions detailed below. Page 2 Building permits (single family and townhomes) were budgeted at 135 for 2020. Revenues associated with building permits and plan check fees through the 3rd quarter are above expectations (92% of budget) and about equal to 3rd quarter 2019 YTD. The following table provides a breakdown of the YTD third quarter activity by year. Year Single Family Townhomes Subtotal New Residential Commercial / Industrial Other Permits Total Change from PY (Total Permits) 2020 118 4 122 3 2200 2325 29% 2019 105 49 154 2 1640 1796 (8%) 2018 85 57 142 1 1810 1953 66% The City Council waived the liquor license payment until January 1 (half of the license year). This was for a total of $33,000. The amount received during the 3rd quarter 2020 was $38,290. Second quarter franchise fees collected in July and August are included in this report. Third quarter fees are recorded in October. We received the 2nd and 3rd quarter SMSC local government aid for policing. The quarterly budget for this item is $200,000 ($800k annual). The SMSC has paid $700,000 through September. Based on discussions with the SMSC, this is the full amount the city will receive in 2020. The annual amount is less than budget as there was no Police aid for two months when Mystic Lake was closed. For projection purposes, there is a $100k revenue shortfall for this line item. Project engineering fees are currently at 25% of its annual budget. The 2020 Project Admin/Eng. Fee is the cost for internal work done on city construction projections. City staff time on the projects is charged over the life of the project, which is typically three years and includes planning, construction, and project closeout. The Fish Point Rd project was delayed a year, so there will not be a project engineering/admin chargeout to the street project as planned. This will result in a revenue shortfall of about $90,000 in this revenue line item. Recreation revenues are lower than budget due to the cancellation of summer recreation programs. Facility rental, studio/pavilion, and park shelter rental revenues are also down as facilities were closed during the MN stay at home executive order and rentals remain slow as residents continue to follow social distancing guidelines. Additionally, Police and Parks contracted overtime is down as Mystic Lake was closed for two months and due to the cancellation of Musicfest, summer sports programs and other community events. Interest earnings are tracking close to budget. The report also reflects a $113k 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 which is collected to cover the city’s internal cost to administer the development projects. We anticipate a revenue shortfall in the developer agreement fee revenue line of about $70,000 as the Spring Lake Ridge and Parkhaven developments may not come in as planned. The Parkhaven development has preliminary plat approval. Final plat approval and payment approval may not occur until 2021. General Fund Expenditures/Transfers General Fund expenditures for 2020 represents 64% of the $14,780,210 amended budget. The level of expenditures (as a percent of budget) is lower than the same period in 2019 which was 68% of the amended budget. Page 3 GENERAL FUND 2020 PROJECTION Due to the economic uncertainty during this pandemic, staff will provide a quarterly update of the 2020 General Fund projection. (See Attachment 3 – General Fund 2020 Projection). The projection includes revenue assumptions and planned expenditure reductions. There are many variables and unknowns. Our assumptions and projections may change but we are planning based on the best information that we have today. The quarterly update of the projection information will be shared with the City Council at the November 2 work session. The projection and key points are summarized as follows: • Potential Budgeted Revenue Shortfall - $483k • Management of shortfall: ▪ Planned expenditure reduction - $655k ▪ Planned reduction in use of General Fund reserves of $172k (Our 2nd quarter estimate was additional use of reserve of $90k.) The table below summarizes the General Fund projected revenue shortfall, planned expenditure reductions, and planned add to General Fund reserves in relation to the 2020 Amended Budget. Based on the 2020 Amended Budget, the city planned to use General Fund reserves of $325,000. Staff anticipates we will reduce the planned use of reserves by $172,000 for a total planed use of reserves of $153,000. Variance from 2020 2020 2020 Amended Budget - % BDGT Budget Amended Projection Positive (Negative)USED Total Revenues 14,455,498 14,455,498 13,972,000 (483,000) 97% Total Expenditures 14,656,748 14,780,212 14,125,000 655,000 96% (Use of )/Add to Reserves (201,250) (324,714) (153,000) 172,000 Page 4 The next table summarizes staff assumptions regarding General Fund revenue reductions estimated at $483,000. The 3rd quarter expenditure projection includes additional costs of $135,000 in relation to budget for the following items: • Workers compensation retro program adjustment for policy year 2014 • Police overtime costs • Lobbying costs paid to Messerli and Cramer for legislative representation Expenditure reductions totaling $655,000 have been put in place due to the anticipated revenue shortfall. The expenditure reductions are summarized in the table below. Variance from Revenues Amended Budget - Assumptions Positive (Negative) Taxes (270,000)$ 1) 3% delinquency rate (Q1 assumption - 1.5% delinquency rate) Licenses and Permits 80,000 1) Liquor licenses – no fee for six months 2) Reduction in burn permits/rental fees 3) Increase in building/mechanical/plumbing permit revenue (Budget of 135 permits/Projection of 160 permits) (Q2 assumption of bldg permits projecton of 115/Q3 assumptions of blidg permit projection of 160) Intergovernmental (100,000) 1) SMSC local government aid for Policing – may not receive revenue for two months Mystic Lake was closed. (Q2 assumption: SMSC Aid for Policing revenue shortfall of $133k/Q3 SMSC Aid for Policing is known -$700k for yr-$100k revenue shortfall compared to budget) Charges for Services (153,000) 1) Police & Park contracted services – Mystic Lake/Musicfest/Lakefront Days; 2) Lakefront Pavillion & Park Shelter Rental; 3)Spring/Summer Recreation Programs; 4)Facility rental abatement during lockdown 5) Project Admin/Engineering Fees 6) Increase in Building Plan Check Fees (Q2 assumption of bldg permits projecton of 115/Q3 assumptions of blidg permit projection of 160) Interest (losses) on investments (20,000) 1) Estimated reduction in interest earnings Other (20,000) 1) Anticipate that planned new development may not come in in 2020 (Meadows and Parkhaven planned phased development); 2) Reduction in solicitor permit revenue Transfers in - Total Revenues (483,000)$ Page 5 Expenditure Reductions Planned Cost Savings/(Spend) Staffing Reductions: • Staff layoffs - Receptionist and Senior Program Recreation Coordinator • Cost savings by utilizing staff to cover open positions/needs: o Rec staff and Facilities Maintenance to do permitting/bldg. inspection/parks maintenance duties o Staff from various departments to cover receptionist duties include Fire Dept. support • Limited Seasonal Staff for Public Works, Recreation and Police CSO park rangers. • Staff overtime reduction Offsetting increases in personnel costs: • Utilized CSO park rangers when the stay at home order was lifted • Police OT • Workers comp retro adjustment for policy year 2014 • Increase for two months of Fire duty crews of 20k included in the total $280,000 Parks • Based on no seasonal staff being hired, downtown flowers will not be planted/placed this summer. Maintenance of other planting and landscape areas will also be decreased and completed if/when full-time staff is available. $105,000 Recreation Reduction in operating Supplies/Instructors • No Spring/Summer Recreation Program/Senior Program • No Spring/Summer Community Events $32,000 Streets • Pavement maintenance will be limited to pothole patching. No paver maintenance planned. $57,000 Professional Services • IT Support • Website Redesign • HR • Utilize existing staff vs outsource bldg. dept permit/inspections needs $100,000 Training and Employee Development • Reductions across all departments $40,000 Police/Fire • Delay 2020 small equipment purchases and extend equipment replacement schedule $13,000 Legal • Reduced budget to 2019 actual expenditure-no budget flexibility if additional legal issues occur as compared to 2019 $20,000 Other • No Fire Safety Camp • Memberships, office equipment • All other across all departments $20,000 Lobbying – Legislative representation (30k will be reimbursed by SCALE) ($12,000) Estimated -Net Planned Expenditure Reductions $655,000 ALL OTHER BUDGETED FUNDS: SUMMARY – THROUGH SEPTEMBER 30 Page 6 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. The first scheduled bond payments (interest) are made on the 1st and 15th of June. The rest of the scheduled bond payments (principal and interest) will be due on the 1st and 15th of December. Cable Fund Second quarter franchise fees collected in July are included in this report. Capital Park Fund The primary revenue source is Park Dedication Fees from new development. Park Dedication Fees are down considerably due to the COVID-19 pandemic. Planned expenditures follow the Capital Improvement Program and include new neighborhood parks. Revolving Equipment Fund Property taxes, the primary funding source, are received in June, December and January (final tax settlement). A vehicle was sold for unbudgeted revenue of $6,500. The proceeds will be used to fund planned vehicle replacements. Expenditures to date include Police radios and squad replacements and Streets dump truck chassis. To preserve cash, staff will extend the replacement cycle for emergency sirens/delay 2020 replacement ($50k budget impact). Revolving Park Equipment Fund Property taxes, the primary funding source, are received in June, December and January (final tax settlement). Expenditures to date include Lakefront Park painting. To preserve cash, staff will delay trail/sidewalk replacement projects slated for 2020 ($396k budget impact). Facilities Management Fund Property taxes and transfers in from the General Fund and Utility Funds are the primary funding sources. The planned Library facility work was completed in the 3rd quarter. Permanent Improvement Revolving Fund The approved street overlay project work has been completed. Water Fund The financial results for the Water Fund reflect four billing cycles. Year-to-date consumption has increased over 21% as compared to the end of September 2019, and overall revenues from water charges are up roughly $500,000, or 26% more than the 3rd quarter 2019 YTD. Overall, water operating revenues are about 57% of the 2020 budget which is consistent with prior years. Operating expenditures and transfers-out are at approximately 54% of budget and are lower than 2019 mainly due to the completion of the water meter replacement project in the prior year. Sewer Fund The financial results for the Sewer Fund reflect four billing cycles. Consumption has increased approximately 9% compared to the end of September 2019. Sewer operating revenues are approximately $427,000, or 22%, higher than at the end of September 2019. Sewer operating revenues are at 56% of the budget which is consistent with the 3rd quarter 2019 and prior years. Page 7 Operating expenditures and transfers for 2020 are at 65% of the approved budget. Overall, expenditures and transfers are less than the third quarter of 2019 mainly due to the completion of the water meter replacement project in the prior year. Water Quality Fund The financial report for the Water Quality Fund reflects four billing cycles. Water Quality revenues are based on flat rates per billing cycle. Revenues are slightly higher than 2019 at 56% of the budget due to the rate increase from 2019 to 2020, and an additional 200 accounts at the end of 3rd quarter 2020 to 2019. Operational expenditures and transfers are lower than third quarter 2019 at 53% of the 2020 budget. Utility Receivables Utility receivables (Water, Sewer and Water Quality) at September 30th are approximately 6% of the YTD revenues, as compared to 7% in 2019. This is a positive as it indicates that a smaller % of our revenue is outstanding/still owed to the city as compared to the prior year. Also, of the total utility receivable, only 41% is more than two months delinquent at September 30th, 2020, whereas 59% was more than two months delinquent in 2019. (Two months represents one billing cycle.) Both ratios indicate that the City’s utility customers are continuing to pay their utility bills at similar (or slightly improved) rates and timing patterns as compared to the prior year. Delinquent utility accounts have been notified that their outstanding balances may be certified to the parcel’s property taxes if they remain unpaid at November 19, 2020. 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. The transfer in from the General Fund of $161,250 was completed in the 1st quarter. Expenditures include the 1st quarter purchase of property at 4662 Dakota Street that will be used for future economic development purposes.