HomeMy WebLinkAbout05(G) - Preliminary 2020 Year End Financials ReportGeneral Fund Summary - Breakdown of Budget and CARES Act Activity
(Preliminary & Unaudited)
Variance from Variance from Variance from
2020 2020 2020 Amended Budget - % BDGT Amended Budget - Amended Budget -
Budget Amended Actual Positive (Negative)USED Actual Positive (Negative)Actual Positive (Negative)
Revenues
Taxes 8,953,156 8,953,156 8,923,782 (29,374) 100% 8,923,782 (29,374) -
Licenses and Permits 830,464 830,464 900,601 70,137 108% 900,601 70,137 -
Intergovernmental 2,126,362 2,126,362 4,092,041 1,965,679 192% 2,140,640 14,278 1,951,401 (1,951,401)
Charges for Services 1,808,050 1,808,050 1,752,321 (55,729) 97% 1,752,321 (55,729) -
Fines and Forfeitures - - 1,652 1,652 n/a 1,652 1,652 -
Interest (losses) on investments 102,700 102,700 186,820 84,120 182% 186,820 84,120 -
Other 164,766 164,766 167,399 2,633 102% 167,399 2,633 -
Transfers in 470,000 470,000 470,000 - 100% 470,000 - -
-
Total Revenues 14,455,498 14,455,498 16,494,616 2,039,118 114% 14,543,215 87,717 1,951,401 (1,951,401)
Expenditures
General Government 3,351,744 3,333,514 3,377,440 (43,926) 101% 3,188,957 144,557 188,483 (188,483)
Public Safety 6,535,338 6,613,660 6,740,048 (126,388) 102% 6,679,644 (65,984) 60,404 (60,404)
Public Works 2,200,445 2,215,845 1,999,413 216,432 90% 1,997,007 218,838 2,406 (2,406)
Culture and Recreation 2,166,203 2,214,173 1,628,774 585,399 74% 1,619,796 594,377 8,978 (8,978)
Transfer to other funds 403,018 438,018 538,018 (100,000) 123% 538,018 (100,000) - -
Contingent Reserve - - - - n/a - - -
-
Total Expenditures 14,656,748 14,815,210 14,283,693 531,517 96% 14,023,422 791,788 260,270 (260,270)
Net Change-Add/(Reduce) Fund Balance (201,250) (359,712) 2,210,923 2,570,635 519,792 879,504 1,691,131 (1,691,131)
Planned Use of Reserves (359,712) (359,712)
2,210,923 519,792
Budgeted CARES $ Activity Only (Unbudgeted)
O:\Financial Reporting\2020\4th Q 2020 Financial Report - Attachment 2
City of Prior Lake
General Fund Summary - Comparison to Prior Year
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes 8,953,156 8,953,156 8,923,782 (29,374) 100%8,367,850 555,932
Licenses and Permits 830,464 830,464 900,601 70,137 108%992,096 (91,495)
Intergovernmental 2,126,362 2,126,362 4,092,040 1,965,678 192%1,925,225 2,166,815
Charges for Services 1,808,050 1,808,050 1,752,322 (55,728) 97%1,832,896 (80,574)
Fines and Forfeitures - - 1,652 1,652 n/a 996 656
Interest (losses) on investments 102,700 102,700 186,820 84,120 182%260,434 (73,614)
Other 164,766 164,766 167,399 2,633 102%204,305 (36,906)
Transfers in 470,000 470,000 470,000 - 100%456,300 13,700
Total Revenues 14,455,498 14,455,498 16,494,616 2,039,118 114%14,040,102 2,454,514
Expenditures
General Government 3,351,744 3,333,514 3,377,440 (43,926) 101%3,081,992 (295,448)
Public Safety 6,535,338 6,613,660 6,740,048 (126,388) 102%6,082,646 (657,402)
Public Works 2,200,445 2,215,845 1,999,413 216,432 90%1,961,664 (37,749)
Culture and Recreation 2,166,203 2,214,173 1,628,774 585,399 74%1,889,266 260,492
Transfer to other funds 403,018 438,018 538,018 (100,000) 123%334,769 (203,249)
Total Expenditures 14,656,748 14,815,210 14,283,693 531,517 96%13,350,337 (933,356)
Net Change (201,250) (359,712) 2,210,923 689,765
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive ( Negative)USED 12/31/2019 Positive (Negative)
Taxes
101 31010.00 Current Property Taxes - General Purpos 7,937,036 7,937,036 7,899,310.00 (37,726) 100%7,422,107 477,203
101 31020.00 Delinquent Property Taxes - General Purp - - 32,451.00 32,451 n/a 42,681 (10,230)
101 31040.00 Fiscal Disparities 1,016,120 1,016,120 991,482.00 (24,638) 98%902,101 89,381
101 33423.00 Market Value Credit Aid - - 539.00 539 n/a 962 (423)
Taxes 8,953,156 8,953,156 8,923,782 (29,374) 100%8,367,850 555,932
Licenses and Permits
101 32100.00 Business Licenses 840 840 840 - 100%945 (105)
101 32110.00 Liquor Licenses 75,790 75,790 3,990 (71,800) 5%72,615 (68,625)
101 32160.00 Refuse Haulers 4,500 4,500 4,585 85 102%4,835 (250)
101 32170.00 Outdoor Concert Permits - - - - n/a - -
101 32175.00 Public Private Gathering Permit 720 720 170 (550) 24%630 (460)
101 32180.00 Cigarette Licenses 2,295 2,295 2,040 (255) 89%2,295 (255)
101 32190.00 Community Event Application 200 200 450 250 225%500 (50)
101 32210.00 Building Permits 577,168 577,168 743,284 166,116 129%746,713 (3,429)
101 32215.00 Mechanical Permits 89,340 89,340 72,256 (17,084) 81%81,038 (8,782)
101 32230.00 Plumbing Permits 64,118 64,118 55,401 (8,717) 86%55,793 (392)
101 32231.00 Sewer/Water Inspection 7,628 7,628 9,990 2,362 131%13,007 (3,017)
101 32232.00 Plumbing Registrations 1,200 1,200 1,050 (150) 88%1,880 (830)
101 32240.00 Animal Licenses - - - - n/a 4,520 (4,520)
101 32260.00 Burning Permits 4,000 4,000 3,880 3,000 97%3,840 40
101 32270.00 Short-term Rental Fee 2,665 2,665 2,665 - 100%3,485 (820)
Licenses and Permits 830,464 830,464 900,601 70,137 108%992,096 (91,495)
Intergovernmental
101 33160.10 Fed Aids/Grants - Operating Grants - - 1,951,401 1,951,401 n/a - 1,951,401
101 33160.11 Fed Aids/Grants - Operating Police 10,000 10,000 6,394 (3,606) 64%1,821 4,573
101 33401.00 Local Government Aid 11,905 11,905 - (11,905) 0%11,905 (11,905)
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 228,990 228,990 258,328 29,338 113%228,988 29,340
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 377,000 377,000 417,958 40,958 111%378,807 39,151
101 33420.00 State Fire Aid-Ins. Prem.232,650 232,650 248,275 15,625 107%236,651 11,624
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 6,529 3,529 218%4,406 2,123
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 - 100%52,680 1,990
100 33630.00 Metro Council Grants - - 16,000 16,000 n/a - 16,000
101 33631.00 Payment in Lieu of Taxes 800,000 800,000 700,000 (100,000) 88%600,000 100,000
101 33700.10 Miscellaneous Grants - Operating Grants - - 22,830 22,830 n/a - 22,830
101 33700.11 Miscellaneous Grants - Operating Police - - 6,000 6,000 n/a 33,346 (27,346)
Intergovernmental 2,126,362 2,126,362 4,092,040 1,965,678 192%1,925,225 2,166,815
COMPARATIVE
City of Prior Lake
General Fund Revenues
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive ( Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Charges for Services
101 31810.00 Franchise Taxes 630,000 630,000 670,917 40,917 106%639,783 31,134
101 34103.00 Zoning & Subdivision Fees 30,000 30,000 36,370 6,370 121%32,104 4,266
101 34104.00 Plan Check Fees 320,487 320,487 397,284 76,797 124%382,837 14,447
101 34105.00 Sale of Maps/Publications - Reports 500 500 720 220 144%837 (117)
101 34107.00 Assessment Searches - Reports 400 400 1,475 1,075 369%675 800
101 34109.00 Project Admin/Eng Fees 122,000 122,000 21,190 (100,810) 17%63,948 (42,758)
101 34203.00 Accident/Warrant Reports - Reports 200 200 174 (26) 87%90 84
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 29,382 (13,618) 68%42,863 (13,481)
101 34735.01 Recreation Program Fees Regular 9,000 9,000 6,696 (2,304) 74%22,427 (15,731)
101 34740.00 Concessions - Park Fees 300 300 - (300) 0%- -
101 34760.01 Facility Rental - Regular 35,831 35,831 36,374 543 102%36,336 38
101 34761.00 Studio/Pavilion Rental 24,000 24,000 9,752 (14,248) 41%20,274 (10,522)
101 34762.00 Park Shelter Rental 83,200 83,200 86,782 3,582 104%56,145 30,637
101 34763.13 Facility Usage Fee (not taxable)- - - - n/a 1,200 (1,200)
101 34765.01 Tower Leases 317,582 317,582 305,566 (12,016) 96%312,116 (6,550)
101 34780.00 Park Admission Fees 30,000 30,000 40,652 10,652 136% 24,548 16,104
101 34783.00 City Contract Services 151,550 151,550 87,913 (63,637) 58%177,577 (89,664)
101 36220.16 Prof Services Fee Deposit Bldg Inspectio - - 20,805 20,805 n/a 9,342 11,463
Charges for Services 1,808,050 1,808,050 1,752,322 (55,728) 97%1,832,896 (80,574)
Fines and Forfeitures
101 35101.00 County Court Fines - - 300 300 n/a - 300
101 35104.00 Prosecution Restitution - - 1,352 1,352 n/a 996 356
Fines and Forfeitures - - 1,652 1,652 n/a 996 656
City of Prior Lake
General Fund Revenues
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive ( Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Interest (losses) on investments
101 36210.00 Interest Earnings 102,700 102,700 153,053 50,353 149%160,461 (7,408)
101 36215.00 Amortization - Premium/Discount - - (66,083) (66,083) n/a (8,690) (57,393)
101 36225.00 Unrealized Inv.Gain(Loss)- - 99,850 99,850 n/a 116,516 (16,666)
101 36226.00 Realized Inv.Gain(Loss)- - - - n/a (7,853) 7,853
Interest (losses) on investments 102,700 102,700 186,820 84,120 182%260,434 (73,614)
Other Miscellaneous Revenues
101 36101.00 City Assess. Collection - - - - n/a 519 (519)
101 36102.00 County Assess. Collection 5,000 5,000 5,457 457 109%(379) 5,836
101 36211.00 Developer Agreements 130,000 130,000 62,062 (67,938) 48%119,021 (56,959)
101 36212.00 Miscellaneous Revenue 29,766 29,766 82,543 52,777 277%56,864 25,679
101 36230.00 Contributions & Donations - - 14,734 14,734 n/a 18,403 (3,669)
101 39102.00 Sale of Property - - 2,603 2,603 n/a 9,877 (7,274)
Other Miscellaneous Revenues 164,766 164,766 167,399 2,633 102%204,305 (36,906)
Other financing sources
101 39203.00 Transfer from Other Funds 470,000 470,000 470,000 - 100%456,300 13,700
Other financing sources 470,000 470,000 470,000 - 100%456,300 13,700
Total Revenues 14,455,498 14,455,498 16,494,616 2,039,118 114%14,040,102 2,454,514
City of Prior Lake
General Fund Expenditures
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance from
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Function: General Government
41110.00 MAYOR & COUNCIL 75,507 75,507 65,689 9,818 87% 70,144 4,455
41130.00 ORDINANCE 7,500 7,500 5,440 2,060 73% 4,025 (1,415)
41320.00 ADMINISTRATION 340,473 340,473 317,737 22,736 93% 529,001 211,264
41330.00 BOARDS & COMMISSIONS 11,765 11,765 5,507 6,258 47% 8,720 3,213
41400.00 CITY CLERK 116,283 116,283 117,161 (878) 101% 83,980 (33,181)
41410.00 ELECTIONS 34,231 34,231 58,393 (24,162) 171% - (58,393)
41520.00 FINANCE 520,572 523,612 499,896 23,716 95% 480,576 (19,320)
41540.00 INTERNAL AUDITING 35,475 35,475 31,184 4,291 88% 37,564 6,380
41550.00 ASSESSING 218,704 218,704 216,236 2,468 99% 202,418 (13,818)
41610.00 LEGAL 180,000 180,000 193,279 (13,279) 107% 152,275 (41,004)
41820.00 HUMAN RESOURCES 306,890 306,890 303,207 3,683 99% 187,117 (116,090)
41830.00 COMMUNICATIONS 180,331 180,331 150,043 30,288 83% 126,563 (23,480)
41910.00 COMMUNITY DEVELOPMENT 379,921 379,921 450,151 (70,230) 118% 328,191 (121,960)
41920.00 INFORMATION TECHNOLOGY 438,494 467,224 470,646 (3,422) 101% 402,446 (68,200)
41940.00 FACILITIES - CITY HALL 505,598 455,598 492,871 (37,273) 108% 468,972 (23,899)
Total - Function General Government 3,351,744 3,333,514 3,377,440 (43,926) 101% 3,081,992 (295,448)
Function: Public Safety
42100.00 POLICE 4,848,910 4,855,232 5,026,592 (171,360) 104% 4,505,684 (520,908)
42200.00 FIRE 1,038,440 1,038,440 995,854 42,586 96% 944,350 (51,504)
42400.00 BUILDING INSPECTION 604,313 676,313 678,072 (1,759) 100% 594,465 (83,607)
42500.00 EMERGENCY MANAGEMENT 14,875 14,875 10,335 4,540 69% 9,947 (388)
42700.00 ANIMAL CONTROL 28,800 28,800 29,195 (395) 101% 28,200 (995)
Total - Function Public Safety 6,535,338 6,613,660 6,740,048 (126,388) 102% 6,082,646 (657,402)
Function: Public Works
43050.00 ENGINEERING 379,090 379,090 356,124 22,966 94% 348,294 (7,830)
43100.00 STREET 1,338,286 1,353,686 1,173,053 180,633 87% 1,200,526 27,473
43400.00 CENTRAL GARAGE 483,069 483,069 470,236 12,833 97% 412,844 (57,392)
Total - Function Public Works 2,200,445 2,215,845 1,999,413 216,432 90% 1,961,664 (37,749)
Function: Culture and Recreation
45100.00 RECREATION 474,059 474,059 338,776 135,283 71% 433,568 94,792
45200.00 PARKS 1,623,071 1,671,041 1,227,649 443,392 73% 1,393,652 166,003
45500.00 LIBRARIES 69,073 69,073 62,349 6,724 90% 62,046 (303)
Total - Function Culture and Recreation 2,166,203 2,214,173 1,628,774 585,399 74% 1,889,266 260,492
00000.00 Transfer to Other Funds 403,018 438,018 538,018 (100,000) 123% 334,769 (203,249)
Total Expenditures 14,656,748 14,815,210 14,283,693 531,517 96%13,350,337 (933,356)
COMPARATIVE
City of Prior Lake
Expenditures- Personal Services Category Only (Payroll/Taxes/Benefits)
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance from
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
GENERAL FUND
Function: General Government
41110.00 MAYOR & COUNCIL 66,857 66,857 61,277 5,580 92% 63,060 1,783
41320.00 ADMINISTRATION 274,743 274,743 243,542 31,201 89% 464,155 220,613
41330.00 BOARDS & COMMISSIONS 10,765 10,765 5,305 5,460 49% 8,720 3,415
41400.00 CITY CLERK FUNCTIONS 115,093 115,093 115,546 (453) 100% 81,824 (33,722)
41410.00 ELECTIONS 28,231 28,231 43,468 (15,237) 154% - (43,468)
41520.00 FINANCE 502,507 502,507 481,375 21,132 96% 465,969 (15,406)
41820.00 HUMAN RESOURCES 262,440 262,440 269,686 (7,246) 103% 154,461 (115,225)
41830.00 COMMUNICATIONS 113,981 113,981 111,307 2,674 98% 106,380 (4,927)
41910.00 COMMUNITY DEVELOPMENT 315,151 315,151 304,332 10,819 97% 299,211 (5,121)
41920.00 INFORMATION TECHNOLOGY 211,666 138,152 141,468 (3,316) 102% 150,440 8,972
41940.00 FACILITIES - CITY HALL 98,827 48,827 61,742 (12,915) 126% 95,014 33,272
Total - Function General Government 2,000,261 1,876,746 1,839,048 37,698 98% 1,889,234 50,186
Function: Public Safety
42100.00 POLICE 4,270,175 4,270,175 4,543,382 (273,207) 106% 4,126,265 (417,117)
42200.00 FIRE 744,129 744,129 759,661 (15,532) 102% 691,221 (68,440)
42400.00 BUILDING INSPECTION 549,272 621,272 614,708 6,564 99% 562,077 (52,631)
Total - Function Public Safety 5,563,576 5,635,576 5,917,751 (282,175) 105% 5,379,563 (538,188)
Function: Public Works
43050.00 ENGINEERING 341,628 341,628 316,767 24,861 93% 303,931 (12,836)
43100.00 STREET 468,818 484,218 470,932 13,286 97% 422,172 (48,760)
43400.00 CENTRAL GARAGE 244,744 244,744 232,956 11,788 95% 225,462 (7,494)
Total - Function Public Works 1,055,190 1,070,590 1,020,655 49,935 95% 951,565 (69,090)
Function: Culture and Recreation
45100.00 RECREATION 351,207 351,207 249,413 101,794 71% 304,212 54,799
45200.00 PARKS 1,107,555 1,118,055 863,292 254,763 77% 990,653 127,361
Total - Function Culture and Recreation 1,458,762 1,469,262 1,112,705 356,557 76% 1,294,865 182,160
General Fund Payroll Only Expenditures Total 10,077,789 10,052,175 9,890,159 162,016 98%9,515,227 (374,932)
EDA FUND
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 132,793 132,793 137,006 (4,213) 103% 126,124 (10,882)
EDA Fund Payroll Only Expenditures Total 132,793 132,793 137,006 (4,213) 103%126,124 (10,882)
COMPARATIVE
City of Prior Lake
Expenditures- Personal Services Category Only (Payroll/Taxes/Benefits)
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance from
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
WATER FUND
Function: Water
41520.00 Finance 73,219 73,219 75,254 (2,035) 103% 67,902 (7,352)
49400.00 Water 744,427 728,027 721,819 6,208 99% 737,500 15,681
Water Fund Payroll Only Expenditures Total 817,646 801,246 797,073 4,173 99%805,402 8,329
SEWER FUND
Function: Sewer
41520.00 Finance 73,219 73,219 75,310 (2,091) 103% 67,766 (7,544)
49450.00 Sewer 735,647 717,947 716,605 1,342 100% 746,146 29,541
Sewer Fund Payroll Only Expenditures Total 808,866 791,166 791,915 (749) 100%813,912 21,997
STORM WATER FUND
Function: Storm Water
49420.00 Water Quality 358,912 358,912 323,329 35,583 90% 304,444 (18,885)
Storm Water Fund Payroll Only Expenditures Total 358,912 358,912 323,329 35,583 90%304,444 (18,885)
City-Wide Total Payroll Expenditures 12,196,006 12,136,292 11,939,482 196,810 98% 11,565,109 (374,373)
City of Prior Lake
Debt Service Funds
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Property Taxes
Current Property Taxes 3,319,231 3,319,231 3,316,381 (2,850) 100% 3,262,770 53,611
Special Assessments
City Assess. Collections - - 126,416 126,416 n/a 194,959 (68,543)
County Assess. Collection 488,995 488,995 490,209 1,214 100% 504,953 (14,744)
Interest (losses) on investments
Interest Earnings 57,400 57,400 69,502 12,102 121% 85,607 (16,105)
Unrealized Inv.Gain(Loss) - - 48,019 48,019 n/a 61,319 (13,300)
Other Financing Sources
Transfer from Other Funds 1,214,646 1,214,646 1,260,291 45,645 104% 1,345,090 (84,799)
Total Revenues 5,080,272 5,080,272 5,310,818 230,546 105%5,454,698 (143,880)
Expenditures
Debt Service
Principal 4,199,126 4,199,126 4,199,126 - 100% 4,193,512 (5,614)
Interest and Other 1,118,116 1,118,116 1,118,104 12 100% 1,146,470 28,366
Bond Issuance Costs 5,075 5,075 7,230 (2,155) 142% 6,090 (1,140)
Transfers to Other Funds 110,000 110,000 155,645 (45,645) 141% 161,737 6,092
Total Expenditures 5,432,317 5,432,317 5,480,105 (47,788) 101%5,507,809 27,704
Net Change (352,045) (352,045) (169,287) (53,111)
COMPARATIVE
City of Prior Lake
Cable Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Charges for Services
210-41340.00-34304.00 PEG Access Fees 32,000 32,000 31,276 (724) 98% 28,901 2,375
Interest (losses) on investments
210-41340.00-36210.00 Interest Earnings - - 1,463 1,463 n/a 1,648 (185)
210-41340.00-36225.00 Unrealized Inv. Gain (Loss) - - 1,204 1,204 n/a 1,201 3
Total Revenues 32,000 32,000 33,943 1,943 106%31,750 2,193
Expenditures
Current Expenditures
210-41340.00-52400.20 Small Equipment - Technology - - 296 (296) n/a 243 (53)
210-41340.00-53210.00 Telecommunications - - 4,427 (4,427) n/a - (4,427)
210-41340.00-54020.00 Software Service Contract 1,200 1,200 - 1,200 0% - -
Capital Outlay
210-41340.00-55570.00 Machinery and Equipment 8,000 8,000 6,399 1,601 80% 20,020 13,621
Total Expenditures 9,200 9,200 11,122 (1,922) 121%20,263 9,141
Net Change 22,800 22,800 22,821 11,487
COMPARATIVE
City of Prior Lake
Capital Park Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Charges for Services
225-45200.00-34760.01 Facility Rental - Regular 25,200 25,200 24,000 (1,200) 95% 18,700 5,300
225-45200.00-34791.00 Dedication Fees 506,000 506,000 150,820 (355,180) 30% 290,490 (139,670)
Charges for Services 531,200 531,200 174,820 (356,380) 33% 309,190 (134,370)
Intergovernmental
225-45200.00-33700.20 Miscellaneous - Capital Grants - - - - n/a 100,000 (100,000)
Intergovernmental - - - - n/a 100,000 (100,000)
Interest (losses) on investments
225-00000.00-36210.00 Interest Earnings 26,800 26,800 33,952 7,152 127% 41,144 (7,192)
225-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 29,629 29,629 n/a 29,813 (184)
Interest (losses) on investments 26,800 26,800 63,581 36,781 237% 70,957 (7,376)
Contributions and donations
225-00000.00-36230.00 Contributions & Donations - - 30,130 30,130 n/a 4,200 25,930
Contributions and donations - - 30,130 30,130 n/a 4,200 25,930
Total Revenues 558,000 558,000 268,531 (289,469) 48%484,347 (215,816)
Expenditures
54320.00 Miscellaneous - - - - n/a 916 916
53810.00 Utilities - Electric - - - - n/a 156 156
53100.80 Professional Services-General - - 11,152 (11,152) n/a 48,662 37,510
55010.00 Projects - Contract Vouchers - - 252,311 (252,311) n/a 95,557 (156,754)
55020.00 Projects - Engineering - - 101,147 (101,147) n/a 26,447 (74,700)
55530.00 Infrastructure - - 4,296 (4,296) n/a 324,592 320,296
55570.00 Machinery and Equipment - - - - n/a 7,866 7,866
Total Expenditures - - 368,906 (368,906) n/a 504,196 135,290
Net Change 558,000 558,000 (100,375) (19,849)
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes
410-00000.00-31010.00 Current Property Taxes 625,000 625,000 624,897 (103) 100%599,619 25,278
Taxes 625,000 625,000 624,897 (103) 100%599,619 25,278
Interest (losses) on investments
410-00000.00-36210.00 Interest Earnings 7,000 7,000 11,124 4,124 159%24,453 (13,329)
410-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 9,983 9,983 n/a 14,566 (4,583)
Interest (losses) on investments 7,000 7,000 21,107 14,107 302%39,019 (17,912)
Sale of assets
410-00000.00-39102.00 Sale of Property 12,000 12,000 63,717 51,717 531%8,020 55,697
Sale of assets 12,000 12,000 63,717 51,717 531%8,020 55,697
Transfers in
410-00000.00-39203.00 Transfer from Other Funds 180,000 215,000 215,000 - 100%160,000 55,000
Transfers in 180,000 215,000 215,000 - 100%160,000 55,000
OTHER FINANCING SOURCES
Debt Issued
410-00000.00-39310.00 G.O. Bond Proceeds 115,000 115,000 - (115,000) 0%215,000 (215,000)
Premium on debt issued
410-43100.00-55110.00 Projects - Bond Discount/Premium - - - - n/a 40,040 (40,040)
115,000 115,000 - (115,000) 0%255,040 (255,040)
Total Revenues 939,000 974,000 924,721 (49,279) 95%1,061,698 (136,977)
COMPARATIVE
City of Prior Lake
Revolving Equipment Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Expenditures
Public Safety
Police
410-42100.00-55550.00 Vehicles 191,000 191,000 159,725 31,275 84%128,718 (31,007)
410-42100.00-55570.00 Machinery & Equipment 252,000 277,580 221,611 55,969 80%58,374 (163,237)
Fire
410-42200.00-55070.00 Projects - Bond Issuance Costs - - - - n/a 5,856 5,856
410-42200.00-55550.00 Vehicles 65,000 65,000 86,164 (21,164) 133%614,294 528,130
410-42200.00-55570.00 Machinery & Equipment 50,000 50,000 48,715 1,285 97%- (48,715)
Building Inspection
410-42400.00-55550.00 Vehicles 32,000 67,000 - - 0%30,539 30,539
Total Public Safety 590,000 650,580 516,215 67,365 79%837,781 321,566
Public Works
Street
410-43100.00-55550.00 Vehicles 257,000 491,603 478,304 13,299 97%86,376 (391,928)
410-43100.00-55570.00 Machinery & Equipment - - 41,550 (41,550) n/a 91,963 50,413
Central Garage
410-43400.00-55550.00 Vehicles 20,000 20,000 16,307 3,693 82%18,739 2,432
Total Public Works 277,000 511,603 536,161 (24,558) 105%197,078 (339,083)
Culture and Recreation/Parks
410-45200.00-55550.00 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
Water
410-49400.00-55570.00 Machinery and Equipment - - - - n/a 55,549 55,549
Total Utility - - - - n/a 55,549 55,549
Total Expenditures 1,200,000 1,495,183 1,115,760 312,423 75%1,181,243 65,483
Net Change (261,000) (521,183) (191,039) (119,545)
City of Prior Lake
Revolving Park Equipment Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes
430-00000.00-31010.00 Current Property Taxes 319,000 319,000 318,599 (401) 100%289,269 29,330
Taxes 319,000 319,000 318,599 (401) 100%289,269 29,330
Interest (losses) on investments
430-00000.00-36210.00 Interest Earnings 9,000 9,000 18,785 9,785 209%18,323 462
430-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 14,345 14,345 n/a 13,084 1,261
Interest (losses) on investments 9,000 9,000 33,130 24,130 368%31,407 1,723
Other
430-00000.00-36212.00 Miscellaneous Revenue - - 28,037 28,037 n/a - 28,037
Other - - 28,037 28,037 n/a - 28,037
Total Revenues 328,000 328,000 379,766 51,766 116%320,676 59,090
Expenditures
Culture and Recreation/Parks
430-45200.00-55530.00 Infrastructure 346,000 542,000 62,120 479,880 11%158,797 96,677
Total Culture & Recreation 346,000 542,000 62,120 479,880 11%158,797 96,677
Total Expenditures 346,000 542,000 62,120 479,880 11%158,797 96,677
Net Change (18,000) (214,000) 317,646 161,879
COMPARATIVE
City of Prior Lake
Facilities Management Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes
440-00000.00-31010.00 Current Property Taxes 30,000 30,000 29,523 (477) 98% - 29,523
Taxes 30,000 30,000 29,523 (477) 98% - 29,523
Interest (losses) on investments
440-00000.00-36210.00 Interest Earnings 9,000 9,000 9,323 323 104% 10,242 (919)
440-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 8,145 8,145 n/a 7,363 782
Interest (losses) on investments 9,000 9,000 17,468 8,468 194% 17,605 (137)
Transfers in
440-00000.00-39203.00 Transfer from Other Funds 99,000 99,000 99,000 - 100% 94,927 4,073
Transfers in 99,000 99,000 99,000 - 100% 94,927 4,073
Total Revenues 138,000 138,000 145,991 7,991 106%112,532 33,459
Expenditures
Function: General Government
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 HALL - 120,000 - 120,000 0% - -
Total - Function General Government - 120,000 10,660 109,340 9% 10,349 (310)
Function: Public Safety
42200-55520.00 Building & Building Improvements-FIRE 20,000 20,000 10,357 9,643 52% - (10,357)
Total - Function Public Safety 20,000 20,000 10,357 9,643 52% - (10,357)
Function: Culture and Recreation
45500.00 LIBRARIES 84,000 84,000 86,529 (2,529) 103% 32,637 (53,892)
Total - Function Culture and Recreation 84,000 84,000 86,529 (2,529) 103% 32,637 (53,892)
Function: Water
49400.00 Building & Building Improvements 10,000 10,000 6,943 3,057 69% 5,940 (1,003)
Total - Function Culture and Recreation 10,000 10,000 6,943 3,057 69% 5,940 (1,003)
Total Expenditures 114,000 234,000 114,489 119,511 49%48,926 (65,562)
Net Change 24,000 (96,000) 31,502 63,606
COMPARATIVE
City of Prior Lake
Permanent Improvement Revolving Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes
450-00000.00-31010.00 Property Taxes - General Purpose 80,000 80,000 79,957 (43) 100%94,862 (14,905)
Taxes 80,000 80,000 79,957 (43) 100%94,862 (14,905)
Special Assessments
450-00000.00-36101.00 City Assess. Collections 305,390 305,390 155,850 (149,540) 51%251,576 (95,726)
450-00000.00-36102.00 County Assess. Collection - - 147,444 147,444 n/a 108,607 38,837
305,390 305,390 303,294 (2,096) 99%360,183 (56,889)
Interest (losses) on investments
450-00000.00-36210.00 Interest Earnings 6,477 6,477 11,456 4,979 177%12,482 (1,026)
450-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 12,749 12,749 n/a 9,276 3,473
Interest (losses) on investments 6,477 6,477 24,205 17,728 374%21,758 2,447
Transfers in
450-00000.00-39203.00 Transfer from Other Funds - - 257,935 257,935 n/a - 257,935
Transfers in - - 257,935 257,935 n/a - 257,935
Debt Issued
450-00000.00-39310.00 G.O. Bond Proceeds 490,000 490,000 - (490,000) 0%400,000 (400,000)
Debt Issued 490,000 490,000 - (490,000) 0%400,000 (400,000)
OTHER FINANCING SOURCES
450-43100.00-39315.00 Projects - Bond Premium - - - - n/a 48,709 48,709
Total Revenues 881,867 881,867 665,391 (216,476) 75%925,512 (162,703)
Expenditures
Function: Public Works
450-43100.00-54010.01 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 USES
Transfers out
450-80000.00-59203.00 Transfers to Other Funds 279,933 279,933 279,933 - 100%186,933 (93,000)
Total Expenditures 979,933 979,933 870,210 109,723 89%862,781 (7,429)
Net Change (98,066) (98,066) (204,819) 62,731
COMPARATIVE
City of Prior Lake
Water Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Operating Revenue
Water Charges
601-49400.00-37100.00 Utility Receipts - Water 4,068,698 4,068,698 4,260,351 191,653 105%3,319,356 940,995
601-49400.00-37160.00 Penalties 20,000 20,000 13,458 (6,542) 67%19,340 (5,882)
4,088,698 4,088,698 4,273,809 185,111 105%3,338,696 935,113
Capital Facility charges
601-49400.00-37110.00 Capital Facility Revenue 278,220 278,220 383,331 105,111 138%280,532 102,799
278,220 278,220 383,331 105,111 138%280,532 102,799
Meter Sales
601-49400.00-37170.00 Water Meter Sales 79,825 79,825 102,565 22,740 128%124,163 (21,598)
601-49400.00-37175.00 Pressure Reducers 23,000 23,000 24,359 1,359 106%29,149 (4,790)
102,825 102,825 126,924 24,099 123%153,312 (26,388)
Total Operating Revenue 4,469,743 4,469,743 4,784,064 314,321 107%3,772,540 1,011,524
Non-Operating Revenue
Intergovernmental
601-00000.00-33160.10 Fed Aids/Grants - Operating - - 15,775 15,775 n/a - 15,775
601-00000.00-33422.15 State Aids/Grants - Operating Public Wor - - 1,881 1,881 n/a - 1,881
601-49400.00-33610.10 County-City Aids/Grants-Operations - - - - n/a 572 (572)
- - 17,656 17,656 n/a 572 17,084
Interest (losses) on investments
601-00000.00-36210.00 Interest Earnings 42,000 42,000 96,334 54,334 229%106,415 (10,081)
601-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 76,508 76,508 n/a 77,662 (1,154)
42,000 42,000 172,842 130,842 412%184,077 (11,235)
Miscellaneous Revenues
601-00000.00-36212.00 Miscellaneous Revenue - - 14,059 14,059 n/a 18,166 (4,107)
601-00000.00-36102.00 County Assess Collection - - 3,391 3,391 n/a 6,614 (3,223)
601-00000.00-36231.00 PERA Pension Contributions - - 1,279 1,279 n/a 1,010 269
601-49400.00-37185.00 AMRS Brass Recycling - - - - n/a 19,815 (19,815)
601-49400.00-37190.00 Miscellaneous Revenue Adj - - (154) (154) n/a (34) (120)
- - 18,575 18,575 - 45,571 (26,996)
Total Non-Operating Revenue 42,000 42,000 209,073 167,073 498%230,220 (21,147)
Total Revenues 4,511,743 4,511,743 4,993,137 481,394 111%4,002,760 990,377
COMPARATIVE
City of Prior Lake
Water Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Total Expenditures
Personnel and current expenditures (excluding depreciation)
41520.00 Finance 100,574 100,574 99,392 1,182 99%93,084 (6,308)
49400.00 Water 2,033,027 2,033,027 2,187,570 (154,543) 108%1,992,408 (195,162)
2,133,601 2,133,601 2,286,962 (153,361) 107%2,085,492 (201,470)
Depreciation
49400.00 Water - - 955,327 (955,327) n/a 888,449 (66,878)
- - 955,327 (955,327) n/a 888,449 (66,878)
Principal
49400.00 Water 120,000 120,000 - 120,000 0%- -
120,000 120,000 - 120,000 0%- -
Interest & other
49400.00 Water 54,450 54,450 54,250 200 100%56,031 1,781
54,450 54,450 54,250 200 100%56,031 1,781
Capital improvements
55530.00 Infrastructure 40,000 40,000 15,000 25,000 38%2,359,901 2,344,901
55570.00 Machinery and equipment 112,551 121,281 12,200 109,081 10%10,158 (2,042)
55580.00 Software 17,553 35,103 13,510 21,593 38%- (13,510)
170,104 196,384 40,710 155,674 21%2,370,059 2,329,349
57000.00 Loss on Disposal of Assets - - - - n/a 3,000 3,000
Total - Function Water - - - - n/a 3,000 3,000
55700.00 Contra Capital Outlay - - (39,316) 39,316 n/a (2,360,036) (2,320,720)
Total Expenditures 2,478,155 2,504,435 3,297,933 (793,498) 3,042,995 (254,938)
29.0%
Other Financing Sources
Contribution of assets
601-00000.00-37901.00 Contribution (Other Fund)- - - - n/a 2,537,191 (2,537,191)
601-00000.00-37902.00 Contribution (Developers)- - 886,304 886,304 n/a 285,509 600,795
- - 886,304 886,304 n/a 2,822,700 (1,936,396)
Transfers in
39203.00 Transfer from Other Funds - - - - n/a 1,873,151 (1,873,151)
- - - - n/a 1,873,151 (1,873,151)
Sale of Assets
601-00000.00-39102.00 Sale of Property - - - - n/a - -
- - - - n/a - -
Debt Issued
601-00000.00-39315.00 Projects - Bond Premium - - 16,762 16,762 n/a 16,762 -
City of Prior Lake
Water Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
- - 16,762 16,762 n/a 16,762 -
Total Other Financing Sources - - 903,066 903,066 n/a 4,712,613 (3,809,547)
Other Financing Uses
59203.00 Transfers to other funds 923,160 923,160 1,215,160 (292,000) 995,495 (219,665)
Total Other Financing Uses 923,160 923,160 1,215,160 (292,000) 995,495 (219,665)
Total Revenues/ Other Financing Sources 4,511,743 4,511,743 5,896,203 1,384,460 131%8,715,373 (2,819,170)
Total Expenditures/Other Financing Uses 3,401,315 3,427,595 4,513,093 (1,085,498) 132%4,038,490 (474,603)
Net Change 1,110,428 1,084,148 1,383,110 298,962 4,676,883 (2,344,567)
City of Prior Lake
Sewer Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Sewer Charges
604-49450.00-37102.00 Utility Receipts - Sewer 2,263,591 2,263,591 2,247,380 (16,211) 99%1,823,095 424,285
604-49450.00-37104.00 Utility Recpt-Sewer MCES 1,751,519 1,751,519 1,771,564 20,045 101%1,493,306 278,258
604-49450.00-37160.00 Penalties 20,000 20,000 15,599 (4,401) 78%25,089 (9,490)
4,035,110 4,035,110 4,034,543 (567) 100%3,341,490 693,053
Capital Facility charges
604-49450.00-37110.00 Capital Facility Revenue 278,220 278,220 365,175 86,955 131%280,542 84,633
278,220 278,220 365,175 86,955 131%280,542 84,633
Total Operating Revenue 4,313,330 4,313,330 4,399,718 86,388 102%3,622,032 777,686
Non-Operating Revenue
Intergovernmental
604-49450.00-33160.10 Fed Aids/Grants - - 11,322 11,322 n/a - 11,322
Intergovernmental - - 11,322 11,322 n/a - 11,322
Interest (losses) on investments
604-00000.00-36210.00 Interest Earnings 21,000 21,000 41,240 20,240 196%41,187 53
604-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 29,397 29,397 n/a 27,640 1,757
21,000 21,000 70,637 49,637 336%68,827 1,810
Miscellaneous Revenues
604-00000.00-36102.00 County Assess. Collections - - 2,601 2,601 n/a (3,734) 6,335
604-00000.00-36212.00 Miscellaneous Revenue - - - - n/a 934 (934)
604-00000.00-36231.00 PERA Pension Contributions - - 1,323 1,323 n/a 954 369
- - 3,924 3,924 n/a (1,846) 5,770
Total Non-Operating Revenue 21,000 21,000 85,883 64,883 409%66,981 18,902
Total Revenue 4,334,330 4,334,330 4,485,601 151,271 103%3,689,013 796,588
COMPARATIVE
City of Prior Lake
Sewer Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Total Expenditures
Personnel and current expenditures (excluding depreciation)
41520.00 Finance 100,274 100,274 100,605 (331) 100%92,948 (7,657)
49450.00 Sewer 2,670,654 2,670,654 2,645,188 25,466 99%2,552,036 (93,152)
2,770,928 2,770,928 2,745,793 25,135 99%2,644,984 (100,809)
Depreciation
49400.00 Sewer - - 614,493 (614,493) n/a 563,826 (50,667)
- - 614,493 (614,493) n/a 563,826 (50,667)
Principal
49450.00 Sewer 120,000 120,000 - 120,000 0%- -
120,000 120,000 - 120,000 0%- -
Interest & other
49450.00 Sewer 54,450 54,450 54,250 200 100%56,031 1,781
54,450 54,450 54,250 200 100%56,031 1,781
Capital improvements
55530.00 Infrastructure 154,500 154,500 97,127 57,373 63%418,886 321,759
55570.00 Machinery and equipment 53,655 62,385 12,200 50,185 20%73,011 60,811
55580.00 Software 17,553 35,103 12,117 22,986 35%- (12,117)
225,708 251,988 121,444 130,544 48%491,897 370,453
55700.00 Contra Capital Outlay - - (121,444) 121,444 n/a (418,886) (297,442)
Total Expenditures 3,171,086 3,197,366 3,414,536 (217,170) 3,337,852 (76,684)
Other Financing Sources
Contribution of assets
604-00000.00-37901.00 Contribution (Other Fund)- - - - n/a 1,709,980 (1,709,980)
604-00000.00-37902.00 Contribution (Developers)- - 887,205 887,205 n/a 310,986 576,219
- - 887,205 887,205 n/a 2,020,966 (1,133,761)
Debt Issued
604-00000.00-39315.00 Projects - Bond Premium - - 16,762 16,762 n/a 16,762 -
- - 16,762 16,762 n/a 16,762 -
Sale of Property
604-00000.00-39310.00 Sale of Property - - - - n/a - -
Transfers in
39203.00 Transfer from Other Funds - - - - n/a 306,280 (306,280)
- - - - n/a 306,280 (306,280)
Total Other Financing Sources - - 903,967 903,967 n/a 2,344,008 (1,440,041)
City of Prior Lake
Sewer Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Other Financing Uses
59203.00 Transfers to other funds 294,110 294,110 632,110 (338,000) 215%527,147 (104,963)
Total Other Financing Uses 294,110 294,110 632,110 (338,000) 215%527,147 (104,963)
Total Revenues/ Other Financing Sources 4,334,330 4,334,330 5,389,568 1,055,238 124%5,709,979 (337,173)
Total Expenditures/Other Financing Uses 3,465,196 3,491,476 4,046,646 (555,170) 116%3,864,999 (181,647)
Net Change 869,134 842,854 1,342,922 500,068 2,168,022 (461,806)
City of Prior Lake
Water Quality Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Storm Water Charges
602-49420.00-37120.00 Storm Water Revenue 1,166,677 1,166,677 1,171,147 4,470 100%1,055,564 115,583
602-49420.00-32250.00 Wetland Application Fee - - 1,500 1,500 n/a 750 750
1,166,677 1,166,677 1,172,647 5,970 101%1,056,314 116,333
Water Charges
602-49420.00-37160.00 Penalties - - 2,542 2,542 n/a 3,979 (1,437)
- - 2,542 2,542 n/a 3,979 (1,437)
Total Operating Revenue 1,166,677 1,166,677 1,175,189 8,512 101%1,060,293 114,896
Non-Operating Revenue
Intergovernmental
602-00000.00-33160.10 Fed Aids/Grants - - 3,825 3,825 n/a - 3,825
- - 3,825 3,825 n/a - 3,825
Interest (losses) on investments
602-00000.00-36210.00 Interest Earnings 11,600 11,600 30,871 19,271 266%22,661 8,210
602-00000.00-36225.00 Unrealized Inv.Gain(Loss)- - 24,327 24,327 n/a 14,736 9,591
11,600 11,600 55,198 43,598 476%37,397 17,801
Miscellaneous Revenues
602-00000.00-36212.00 Miscellaneous Revenue - - 21,325 21,325 n/a 12,327 8,998
602-00000.00-36231.00 PERA Pension Contributions - - 578 578 n/a 387 191
- - 21,903 21,903 n/a 12,714 9,189
Total Non-Operating Revenue 11,600 11,600 80,926 69,326 698%50,111 30,815
Total Revenues 1,178,277 1,178,277 1,256,115 77,838 107%1,110,404 145,711
COMPARATIVE
City of Prior Lake
Water Quality Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
COMPARATIVE
Total Expenditures
Personnel and current expenditures (excluding depreciation)
49420.00 Water Quality 658,912 658,912 511,321 147,591 78%442,245 (69,076)
658,912 658,912 511,321 147,591 78%442,245 (69,076)
Depreciation
49400.00 Water Quality - - 116,551 (116,551) n/a 134,427 17,876
- - 116,551 (116,551) n/a 134,427 17,876
Capital improvements
55530.00 Infrastructure 75,000 75,000 108,907 (33,907) 145%106,551 (2,356)
75,000 75,000 108,907 (33,907) 145%106,551 (2,356)
55700.00 Contra Capital Outlay - - (105,134) 105,134 n/a (71,569) 33,565
Total Expenditures 733,912 733,912 631,645 102,267 86%611,654 (19,991)
Other Financing Sources
Contribution of assets
602-00000.00-37901.00 Contribution (Other Fund)- - - - n/a 335,892 (335,892)
602-00000.00-37902.00 Contribution (Developers)- - 32,638 32,638 n/a 17,600 15,038
- - 32,638 32,638 n/a 353,492 (320,854)
Transfers in
602-00000.00-39203.00 Transfer from Other Funds - - - - n/a 267,517 (267,517)
- - - - n/a 267,517 (267,517)
Total Other Financing Sources - - 32,638 32,638 n/a 621,009 (588,371)
Other Financing Uses
59203.00 Transfers to other funds 85,780 85,780 85,780 - 100%126,760 40,980
Total Other Financing Uses 85,780 85,780 85,780 - 100%126,760 40,980
Total Revenues/ Other Financing Sources 1,178,277 1,178,277 1,288,753 110,476 109%1,731,413 (442,660)
Total Expenditures/Other Financing Uses 819,692 819,692 717,425 102,267 88%738,414 20,989
Net Change 358,585 358,585 571,328 212,743 992,999 (421,671)
City of Prior Lake
Economic Development Authority Special Revenue Fund
As of 12/31/2020
(Preliminary & Unaudited)
Variance from Variance
2020 2020 2020 Amended Budget - % BDGT Actual from 2019
Budget Amended Actual Positive (Negative)USED 12/31/2019 Positive (Negative)
Revenues
Taxes
240-00000.00-31010.00 Current Property Taxes 274,750 274,750 273,460 (1,290) 100% 149,698 123,762
Taxes 274,750 274,750 273,460 (1,290) 100% 149,698 123,762
Charges for Services
240-46503.00-34760.02 Facility Rental - EDA 9,575 9,575 7,617 (1,958) 80% 10,120 (2,503)
Charges for Services 9,575 9,575 7,617 (1,958) 80% 10,120 (2,503)
Interest (losses) on investments
240-00000.00-36210.00 Interest Earnings 7,560 7,560 7,379 (181) 98% 11,306 (3,927)
240-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 4,987 4,987 n/a 8,289 (3,302)
Interest (losses) on investments 7,560 7,560 12,366 4,806 164% 19,595 7,229
Contributions and Donations
240-00000.00-37901 Contribution (Other Fund) - - 180,868 180,868 n/a - 180,868
240-00000.00-36230.00 Contributions and Donations - - 4,900 4,900 n/a 8,600 (3,700)
Contributions and Donations - - 185,768 185,768 n/a 8,600 177,168
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 Revenues 453,135 453,135 640,461 187,326 141%188,013 452,448
Expenditures
Function: Economic Development
46500.00 ECONOMIC DEVELOPMENT 448,035 448,035 254,757 193,278 57% 167,478 (87,279)
46503.00 TECH VILLAGE INCUBATOR 5,100 5,100 2,900 2,200 57% 4,076 1,176
Total Expenditures 453,135 453,135 257,657 195,478 57%171,554 (86,103)
Net Change - - 382,804 16,459
COMPARATIVE
City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372
1.
MEMORANDUM
DATE: April 19, 2021
TO: Prior Lake City Council
FROM: Cathy Erickson, Finance Director
RE: Financial Report dated 12/31/2020
This report provides a summary of 12/31/20 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 . Key information for the year, by fund, is
summarized below.
General Fund Summary
Key points for 2020:
Preliminary financial information reflects revenues exceeding expenditures by $2,210,923 The
General Fund reserve balance is projected at $10,114,000 as of 12/31/2020 which is equal to a
67.1% reserve balance This net addition to fund balance is comprised of budgeted and
unbudgeted (CARES Act Funds) components as shown in the summary below:
Shown below is a summary of the Components of the Net Increase in the Fund Balance:
General Fund Summary - 2020
Total
Budgeted
Activity
Unbudgeted
CARES $ Activity
Only
Total Revenues 16,494,616 14,543,215 1,951,401
Total Expenditures 14,283,693 14,023,422 260,270
Net Change-Add/(Reduce) Fund Balance 2,210,923 519,792 1,691,131
2020 Year End Fund Balance Reserve % 67.1%55.9%11.2%
Comprised of:
Total
Budgeted
Activity
Unbudgeted
CARES $ Activity
Only
Components of Add to Fund Balance:
Revenue above budget 2,039,000$ 88,000$ 1,951,000$
Expenditures less than budget 532,000 792,000 (260,000)
Planned Use of Reserves (360,000) (360,000)
Net Change-Add to Fund Balance 2,211,000$ 520,000$ 1,691,000$
Comprised of:
Page | 2
The highlights of the net add to fund balance are summarized below:
1. Budgeted revenue was higher than budget by $88k driven by the following items:
• $219k - Building permits and fees based on a budget of 135 units but actual was 158 units
• $121k - Increase in State aid and operating grants for police, fire, and streets
• ($100k) - SMSC police aid of $700k less than budget of $800k.
• ($100k) - Project engineering fees at 25% of budget due to delay in street projects
• ($72k) - Liquor license annual fees deferred due to pandemic
2. Budgeted expenditures were less than budget by $792k driven by the following items:
• $162k - Personnel cost savings (layoffs, seasonal staff reductions for Public Works, Recreation and
Police CSO park rangers) with offsetting staff increases primarily in Police for over-time and workers
compensation.
• $237k - Operating supplies cost savings across depts including fuel, snow & ice management materials,
repair and maintenance supplies, no Spring/Summer Rec Programs, and no Streets pavement
maintenance.
• $135k - Maintenance cost savings across departments for buildings, equipment, cleaning, and parks.
• $50k - Professional services cost savings for IT Support, HR, and utilizing existing staff vs outsourcing
building department permit/inspection needs
• $95k - Reduction in training and employee development costs across all departments.
3. CARES Act revenue of $1,951,000 with offsetting expenditures of $260k for PPE,
equipment to support remote work, and sanitation supplies.
4. Planned Use of Reserves of $360k: 2020 use of reserves totaled $359,712. The 2020 original
budget was approved with an anticipated use of reserve of $201,250 for a transfer to the EDA for
strategic initiatives and the city’s website redesign. The budget was subsequently amended to
reflect a carryforward of 2020 budget items/use of fund balance reserves of $158,712 for the
following items:
• $ 3k – Finance professional services
• $40k – IT professional services
• $ 6k – Police equipment
• $22k – Building Inspections convert seasonal position to a part-time position.
• $38k – Park trails maintenance and sealcoating
• $ 8k – Public Works asset management software replacement
• $ 6k – Public Works staff reorganization
• $35k – New vehicle funding for building inspector added in November of 2020
2020 General Fund Reserves as a % of 2021 Expenditures:
Beginning Balance - $7.9M
Ending Balance - $10.1M*
2020 Reserve Calculation – 67.1%* comprised of:
Budgeted Activity 55.9%
Unbudgeted CARES Activity 11.2%
Total 67.1%
Page | 3
2021 General Fund Planned Use of Reserves:
Looking forward to 2021, the 2021 use of reserves totals $260,704. The 2021 original budget
was approved with an anticipated use of reserve of $124,000 (SMSC police aid revenue budget
shortfall, building permit revenue, city contribution to health insurance premiums and offsetting
revenue add for township fire services agreement). The budget was subsequently amended to
reflect a carryforward of 2021 budget items/use of fund balance reserves of $136,704 for the
following items:
• $18k –Human Resources compensation study
• $32k – Police field force equipment
• $24k – Police workers compensation
• $63k – Police overtime
As noted above, the 2021 planned use of res erves and budget amendments will reduce the
2021 estimated ending reserve to $9.9M which is equal to a 62.8% reserve balance comprised
of:
Budgeted Activity 51.6%
Unbudgeted CARES Activity 11.2%
Total 62.8%
Proposed Use of General Fund Reserves above Guideline:
The Comprehensive Financial Management Plan recommends maintaining reserves in a range
between 40% and 50% of subsequent year expenditures. Estimated General Fund reserves
above 50% of the next year’s expenditures is $2,029,000. Staff recommendation for use of these
reserves is summarized on Attachment 2 and will be discussed with the Council at the 4/19 work
session.
The following General Fund sections provide detail of the revenues and expenditure variances to
budget.
General Fund Revenues - 12/31/2020
Total revenues are $16,494,616 through 12/31/20 or 114% of the annual amount budgeted. This
compares to $14,040,102 or 105% collected in 2019. Preliminary reports show that General Fund
actual revenues exceeded the 2020 budget by $2,039,118.
The following table highlights the revenue categories that comprise the $2M favorable variance
to budget:
Revenue Category Revenues to Budget Favorable/(Unfavorable)
Total
Budgeted Unbudgeted
CARES
Property Taxes $ (29,000) $ (29,000)
Licenses and Permits 70,000 70,000
Intergovernmental 1,966,000 14,000 1,952,000
Charges for Services (including
franchise taxes)
(56,000) (56,000)
Interest (loss) on Investments 84,000 84,000
Miscellaneous Revenue 4,000 4,000
Estimated Total Revenues
Exceeding Budget
$ 2,039,000 $87,000 $1,952,000
Page | 4
Taxes
Property tax revenue totaled $8,923,782 (99.7% of the 2020 budget). Current tax collections were
at 99.35% which is consistent with 2019 collections of 99.37%. Delinquent collections totaled
$32,451 which is about 24% lower than 2019 ($42,681).
Licenses and Permits
License and Permit revenue consists of building permits and fees, and other
permits. Building permits and fees are the largest sources of revenue in this category
with a budget of $738k. As of 12/31/20, $881k or 119% of the amount budgeted for
building permits has been collected (Favorable to budget by $143k). However, it is noted
that city-wide costs related to processing, reviewing, supporting, and inspecting these
permits far exceed the amount budgeted solely for building inspectors. Building permits
and fees are $16k less in total than the 2019 fees collected.
The following chart shows building permit activity and average values for years 2013
through 2020.
2013 2014 2015 2016 2017 2018 2019 2020
Permits
Issued:
Single Family 149 118 112 108 80 114 144 158
Townhomes 39 8 10 4 20 84 59 4
MF Units - - - 3 (222 units) 5 (218 units) - - -
Commercial/
Industrial
5 5 10 4 11 5 2 6
Miscellaneous 2,099 1,935 2,063 1,904 1,909 2,378 2,420 2.910
Total Permits 2,292 2,066 2,195 2,022 2,075 2,581 2,625 3,078
Average
Value:
Single Family $344,000 $317,000 $331,000 $344,000 $326,000 $353,000 $324,000 $345,000
Townhomes $187,000 $138,000 $183,000 $169,000 $182,000 $172,000 $177,000 $208,000
MF Units - - - $129,000 $159,000 - - -
Commercial/
Industrial
$186,000 $17,000 $374,000 $1,405,000 $1,221,227 $1,064,000 $810,000 $1,463,000
The value of building permits issued increased from $78.3 million in 2019 to $79.8 million
in 2020. The following chart shows the building permit valuation changes by category
from 2019 to 2020. Single Family and Industrial /Commercial valuation are up 17% and
442% respectively as compared to 2019. 2020 included the addition of over 85,000 sq.
ft of new commercial / industrial space for as compared to 83,500 sq. ft of new commercial
/ industrial space for in 2019. However, Townhome total valuation is down $9.6M (92%)
from 2019. Lastly, the city saw an increase in residential additions as compared to 2019
but a decrease in commercial additions in 2020. 2019 commercial additions were
primarily related to school additions and alterations.
Page | 5
Building Permit Valuation Increase/(Decrease)
Single Family $ 7,780,000
Townhouses (9,625,000)
Multiple Units
Industrial & Commercial 7,159,000
Additions & Alterations (3,769,000)
Total Valuation Increase/(Decrease) $ 1,545,000
Intergovernmental Revenue
Intergovernmental revenue for 2020 totaled $4,092,041 which is $1,965,679 higher than 2020
budget and $2,166,816 higher than 2019.
Positive = budget savings; (Negative) = expenditure exceeds budget
• The city received CARES Act funding in 2020 totaling $1,982,322. $1,951,400 of the total
was General Fund funding and the remainder was used for Enterprise Fund PPE and
equipment.
$1,969,018 Federal
13,304 Scott County for election needs
$1,982,322 Total CARES Act funding
$1,951,400 General Fund
30,922 Enterprise Funds
$1,982,322 Total
• The SMSC increased their contribution from $600,000 in 2019 to $700,000 in 2020.
However, this was $100k less than the city budget of $800,000 in 2020. The city is
currently working with the SMSC to complete a multiyear agreement for police aid.
• State Aid for Police was up $35k (14%) from the 2020 budget due to funding increases for
state change in per officer contribution and officer training reimbursement dollars based
on increased training mandates imposed.
• State Aid for Fire is up $16k (7%) from the 2020 budget to due increased pension
contribution from the state of $16k (Budget is based on prior year actual.). No Fire Training
state aid was received as no training was completed due to COVID -19 restrictions and
staffing issues.
• State Road Aid is up $41k (11%) to budget based on funding set by the legislature.
• The city also received operating grants of $23k from ISD #719 for half of the election costs
and a $6k from the SW Metro Drug Task Force for salary expense as part of the 2019
JPA.
Charges for Services
Charges for Services revenue for 2020 is $1,752,321 which is $56k lower than budget and $81k
lower than 2019. The drivers of the variance to budget are in building plan check fees, franchise
fees, internal project engineering charges and COVID -19 budget impacts. The variances to
budget are summarized below:
Positive = budget savings; (Negative) = expenditure exceeds budget
Page | 6
• Additional plan check fees due to 158 bldg. permits as compared to a budget of 135
permits – $77k
• Additional franchise fee revenue over budget includes $17k for a revenue receivable from
Mediacom based on the results of a 2016 -2018 franchise fee audit - $41k
• Due to COVID-19 restrictions, the city saw a reduction in revenue in the following city
services:
o A decrease in city contracted services for Police ($38k) and Parks ($14k) overtime as
compared to budget due limitations on community events and outdoor sports – $(64k
in total)
o Recreation program and Lakefront Pavilion rental revenues were lower than budget
by $40k due to cancellation of summer/fall recreation programs and facilities were
closed during the MN stay at home executive order and re ntals remained slow as
residents continued to follow social distancing . However, the city did see an offsetting
increase in park shelter rental and park admission fees of $14k as compared to budget
as the community held more events outside. – net $(26k)
• Project engineering fees are 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 and
Downtown South projects were delayed a year, so there was no project engineering/admin
charge out to the street projects as planned - $(100k)
• All other (Zoning and Subdivision fees/Tower Leases/Building Inspection Professional Services
Fee Deposit) higher than budget primarily due to the additional plats, application fees, and
fee deposits than planned. - $17k
Other Revenue
Net Interest earnings are $84k higher than budget primarily due to an increase in the city’s
investment portfolio of $316k and a conservative budget for interest earnings. The interest is
allocated based on the cash balance by fund. The report also reflects a $100k increase in the
fair value of the securities. As rates decrease, the market value of the higher yielding securities
has increased. This is a paper gain; no actual gain/loss is realized because the City holds the
securities until maturity.
Miscellaneous revenues were $167,399 which is above budget by $3k. The variances to budget
are summarized below:
Positive = budget savings; (Negative) = expenditure exceeds budget
o The revenue to cover administrative costs for developments was lower than budget by
$67k as Trillium Cove and Meadows phased development were delayed. However,
revenue included Distinctive Shores, Havens Ridge 4 th Addition/ Towering Woods and
Pikes Landing. - $(67k)
o The city collected $30k for SCALE legislative representation. The city paid the
expenditure and was reimbursed by SCALE. The revenue and related expenditure were
not budgeted.
o These revenues include contributions/ donations that are not budgeted/planned but were
received primarily for the recreation and fire departments. It also included a $5k Bush
Foundation award for the SMSC joint water treatment facility. - $15k
General Fund Expenditures
Page | 7
Total General Fund expenditures are $ 14,283,693 through 12/31/20 which is 96% of the annual
amended budget amount. Preliminary reports show that General Fund expenditures were less
than the 2020 budget by $531,517.
Expenditure Function Expenditures to Budget Favorable/(Unfavorable)
Total
Budgeted Unbudgeted
CARES
General Government $ (44,000) $ 193,000 (237,000)
Public Safety (126,000) (114,000) (12,000)
Public Works 217,000 219,000 (2,000)
Culture and Recreation 585,000 594,000 (9,000)
Transfer to other Funds (100,000) (100,000)
Total Expenditures less than
Budget
$ 532,000 $792,000 $(260,000)
Positive = budget savings; (Negative) = expenditure exceeds budget
Due to the economic uncertainty resulting from the COVID -19 pandemic, expenditure reductions
were put in place to protect fund balance in the event of unanticipated revenue sho rtfall. The
following table highlights the expenditure functions and significant items that comprise the
expected $532k favorable variance to budget:
Page | 8
Debt Service Funds
Property taxes and special assessments are received in June, December and January (final tax
settlement). 2020 transfers included the closeout of the Fund 557 (2010 street project) debt
service fund balance of $46k to F562 (GESP project) debt service fund and payoff of special
assessments of $126k when property is sold within the city. Both items were not budgeted items.
Scheduled bond payments were made in June and December.
Cable Fund
2020 activity included revenue from cable franchise companies of $32k and expenditures of
~$11k for live streaming service and equipment costs for Council meeting live stream capability.
General Fund Expenditures Variance from
Amended Budget -
Positive (Negative) Comments:
Function: General Government
41110.00 MAYOR & COUNCIL 9,818 9,818
1) Payroll savings due to open coucil position for partial year;2) Savings on Council worksession meals due to COVID-19 restrictions
and virtual meetings
41130.00 ORDINANCE 2,060 2,060 1) Less publication of required notices than planned.
41320.00 ADMINISTRATION 22,736 26,823 (4,087)
1) Receptionist position layoff as of 5/1/2020 - $37k offset by $10k in City Mgr moving expense allowance ; 2) savings due to limited
training; 3) CARES $ for laptop, monitor, docking and licenses for remote work, signage and sanitizing wipes.
41330.00 BOARDS & COMMISSIONS 6,258 6,258 1) Savings due to less meetings due to pandemic.
41400.00 CITY CLERK (878) (878)
41410.00 ELECTIONS (24,162) (24,162) 1) Additional election judges and related meals needed for absentee ballots at city hall and additional sanitizing
41520.00 FINANCE 23,716 25,140 (1,424)
1) Accountant position open for 5 1/2 months, 2) Department reorg to include Assistant Finance Director, 3) training savings; 4)
CARES expenditures for two staff laptops, zoom license and webcam for ability to work remotely.
41540.00 INTERNAL AUDITING 4,291 4,291
1) Savings on Other Post Employment Benefits (OPEB) actuarial evaluation as accounting standards allowed a one year rollforward
so cost was less than planned.
41550.00 ASSESSING 2,468 2,468
41610.00 LEGAL (13,279) (7,165) (6,114)
1) City attorney services $20k less than budget through project management and nature of issues, 2) Offsetting city payment for
SCALE legislative representation of $14k that was not reimbursed by SCALE or budgeted. It was above and beyond $30k that the city
collected from SCALE for legistative representation. 2) CARES expenditures for legal work of drafting emergency resolutions,
lpayground closures, downtown business letter, restaurant reopening options, activity waivers and labor and employment issues.
41820.00 HUMAN RESOURCES 3,683 6,381 (2,698) 1) No city-wide training as a cost savings measure; 2) CARES expenditures for masks and sanitation items.
41830.00 COMMUNICATIONS 30,288 33,337 (3,049)
1) Savings on professional services as website development costs came in favorable to budget and savings on equipment
maintenance budget line; 2) CARES expenditures to repair city electronic message board.
41910.00 COMMUNITY DEVELOPMENT (70,230) 37,420 (107,650)
1) Savings including less staff OT for council meetings, tax abatement costs $4k less than budget, and savings on the professional
services line as an expense reduction measure; 2) Expenditures for CARES Small Business Assistance Grant of $106,000
41920.00 INFORMATION TECHNOLOGY (3,422) 38,559 (41,981)
1) Savings primarily on CIT professional services of $30k offset by CARES expenditure of equipment of $42k to allow for remote work
including network switch, replacement toughbooks, staff laptop, webcam, etc.
41940.00 FACILITIES - CITY HALL (37,273) (15,794) (21,479)
1) City general liability insurance claims above budget by $22k; 2) CARES expenditure for Installation of city hall cameras and glass
barriers at service counters
Total - Function General Government (43,926) 144,556 (188,482)
Function: Public Safety
42100.00 POLICE (171,360) (119,884) (51,477)
1) Police OT and taxes above budget by $140k; 2) Workers comp adjustments for policy yrs 2014 and 2019 above budget by $90k; 3)
Sargeant vacation and sick leave severance - $40k; 4) Savings of $150k across various accounts primarily fuel, training and
professional services; 5) CARES expenditure for three records staff laptops and 11 officer tough books to allow remote work, PD
camera as a COVID-19 safety measure, and PPE/sanitation supplies - $52k
42200.00 FIRE 42,586 50,227 (7,641)
1) State Fire Aid passthrough $(20k) more than budgeted - city received state aid revenue then pays out to FRA; 2) Savings across all
expenditure categories including supplies, maintenance, and no Fire Safety camp- $70k; 3) CARES - $7,640 for PPE, Sanitization,
spray suits
42400.00 BUILDING INSPECTION (1,759) (473) (1,286)
1) Savings of $33k primarily due to PT development assistant only worked partial year due to pandemic, savings in professional
services and training as expense saving measures. This was offset by $32k for building inspector vehicle replacement which is
recorded in the General Fund since it is funded with builidng related fees. 2) CARES expenditures for laptop and PPE.
42500.00 EMERGENCY MANAGEMENT 4,540 4,540 1) No training completed as a cost savings measure.
42700.00 ANIMAL CONTROL (395) (395)
Total - Function Public Safety (126,388) (65,984) (60,404)
Function: Public Works
43050.00 ENGINEERING 22,966 24,468 (1,502) 1) Staff moved from PT to FT postion resulting in open position during PW reogr; 2) CARES expenditures for PPE and laptop.
43100.00 STREET 180,633 181,537 (904)
1) Fewer OT hours worked April - August - $14k; 2) R&M supply reductions - eliminated concrete, streelight & 50% of bituminous as a
cost saving measure - $42k; 2)fuel and snow & ice mgmt less than budget - $75k; 4)Savings across various accounts including street
lighting $49; 5) CARES expenditures for sanitizer and PPE
43400.00 CENTRAL GARAGE 12,833 12,833 1) Primarily PT wages favorable to budget
Total - Function Public Works 216,432 218,838 (2,406)
Function: Culture and Recreation
45100.00 RECREATION 135,283 135,283
1) Senior Program Rec Coordinator layoff - $16k; 2) No summer seasonal hires - $76k ;3) savings on operating supplies and
instructors due to cancelled programs-$20k;4) no Spring/Summer community events-$17k
45200.00 PARKS 443,392 444,568 (1,176)
1) Personnel costs savings of $254k primarily comprised of $197k as limited seasonal staff hred, $36k for open maintenance position,
13k in OT due to limited community events;2) $188k expenditure savings primarily comprised of $70k for reduced trail sealing &
maintenance, $25k for park lighting due to limited season, $30k in fuel savings, and $58k across supplies,repair and maintenace
categories. 3) CARES expenditures for PPE, masks and sanitizer.
45500.00 LIBRARIES 6,724 14,526 (7,802) 1) 14k favorable to budget primarily in maintenance work offset by CARES expenditures of $8k for protective glass, water fountain...
46100.00 NATURAL RESOURCES - -
Total - Function Culture and Recreation 585,399 594,377 (8,978)
00000.00 Transfer to Other Funds (100,000) (100,000) 1) $100k additional transfer out to Severance Compensation Fund
Total Expenditures 531,517 791,787 (260,270)
Variance from Amended Budget Comprised of:
Budgeted
Unbudgeted
CARES $ Activity Only
Page | 9
Capital Park Fund
Park Dedication Fees of $151k were received including fees for Haven Ridge 4th addition,
Distinctive Shores, and New Creation developments. The city also received donations of $30,000
for specific pickleball court items ($27k) and for memorial benches and trees ($3k). Expenditures
included the following items:
• $353k for 2020 portion of Spring Lake Park pickleball court construction
• $11k for the third-year portion of costs for the Master Park Plan
• $4k for memorial plaques.
Revolving Equipment Fund
Property taxes, the primary funding source totaled $624,897. Revenues also included $64k of
proceeds from the disposal of equipment. ($30k was received for the 2001 Peterbilt tanker.) A
Transfer In of $215,000 was also received.
Equipment purchases totaled $1,115,760 which is less than the budg et by $312,423. This was
primarily due to the following:
1. Items ordered in 2020 but the equipment won’t be received/work completed until 2021.
• Parks 9-ton tandem axle dump truck (plow, chassis & box controls) – $221k
• Police vehicle - $39k
2. Police emergency siren replacements were delayed as a 2020 cost saving measure due
to the uncertainty of revenues during the pandemic. - $50k
Revolving Park Fund
Revenues were $379,766 which comes primarily from property taxes and interest income. Park
infrastructure expenditures were $62,120 which is favorable to budget by $479,880. Staff put
projects on hold as a 2020 cost saving measure due to the uncertainty of revenues during the
pandemic. Projects will be carried forward and identified as future expendi tures on the 2022-
2026 CIP. Future spending of revolving park fund balance will be guided by the Master Park Plan.
Facilities Management Fund
Revenues were $145,991 which comes primarily from Transfers In (General Fund and Enterprise
Funds), property taxes and interest. No debt was issued in 2020.
Facility improvements were $114,489 which is less than budget by $119,511. This is due to the
delay of $120k for the replacement of two boilers at City Hall. The Library irrigation system and
carpet replacement at Club Prior and the Library were completed in 2020.
Permanent Improvement Revolving Fund
Revenue from this fund of $665,391 is comprised of property taxes, special assessments and
bond proceeds. Total assessment revenue in 2020 was $303k, consisting of $156k of prepaids.
No debt was issued in 2020 so there are no bond proceeds. 2020 included transfer of revenue
from the Construction Fund for prior year project closeouts of $258k Expenditures include the
2020 street overlay project of $590k and a transfer out to the debt service fund of $280k.
Prepayment of special assessments continue to provide cash flow to help fund the annual street
overlay project.
Page | 10
Water Fund
The financial report for the Water Fund reflects six bi-monthly billing cycles.
Operating revenue totaled $4,784,064 which is an increase of $1,011,524 or 26.81% from 2019.
Operating revenue was favorable to budget by $314,321. The majority of the water revenue
increase is due to greater consumption of ~139M additional gallons, or 21.95% more usage t han
in 2019. In 2020, consumption -based rates increased 5% from the prior year, and the base rate
remained steady.
Non-Operating Revenues were $21,147 less than 2019, and there were no Transfers-In from
other funds during the current year.
Total operating expenses, before depreciation, are $2,286,962 which is $ 201,470 more than
2019, and $153,361 (7.13%) over budget.
• Maintenance and repair expense was over budget by $189,382 due to a major
unbudgeted watermain repair near Highway #13.
• Supplies were overbudget by $22,830 related to increased chemicals purchases for the
additional water volumes produced in 2020.
• Professional services were underbudget by $19,325, and personnel expense was
favorable by $4,172.
Depreciation expense is $955k which is 29% of the operating expenses.
On a cash basis, capital expenses this year total only $40,711. Total budgeted capital activity
was $196,384; however, some equipment purchases and software upgrades that were initially
planned to occur did not.
Water Improvement
Projects
CIP Ref Budget Actual Comments
Well #8 Rehabilitation CIP #12 $40,000 $ - Project Deferred
Water Treatment Facility Equipment
Upgrades
CIP #14 $112,551 $12,200 Projects Deferred
Utility Billing Software Replacement CIP #25 $35,103 $13,511 In Progress
South Water Tower Rehabilitation WTR21-01 $ - $15,000 2021 Project – In Progress
Total $196,384 $40,711
Infrastructure Projects CIP Ref Budget Actual Comments
Transfer out for Water
Improvements - CSAH
21/TH13/Main Ave/Arcadia
CIP #10 Budgeted
in 2019
$292,000 Project budgeted in 2019 but
final transfer in 2020 based on
completed project costs.
Total Infrastructure Spending $ - $292,000
Transfers out include $369,110 for operating transfers, $554,050 for debt service and $292,000
for the street project transfer out. Total 2020 Transfers out were $1,215,160.
Other financing sources total $903,066 and include capital contributions from developers of $886k
and $16k for amortization of bond premium.
Page | 11
Sewer Fund
The financial report for the Sewer Fund reflects six billing cycles. Operating revenue totaled
$4,399,718 which is an increase of $777,686 or 21.47% from 2019. During 2020, consumption-
based rates increased 14.75% for the city portion and no change to rates for the MCES portion
and base fee. Actual sewer consumption increased 10.80% from 2019, with the remaining
revenue increase attributed to rates.
Operating revenue was favorable to budget by $86,388. This was due to greater than budgeted
consumption.
Non-Operating Revenue included interest earnings of $41k and there were no Transfers in during
the current year.
Total operating expenses, before depreciation , were $ 2,745,793 which is $100,809 more than
2019 and favorable to budget by $25,135 (1%).
• Supplies were favorable to budget by $18,071 due to fewer system -related supplies
expense, lower fuel expenses, and fewer small equipment purchases than budgete d.
• Maintenance expense was also $13,585 below budget.
Depreciation expense is $614k which is 18% of the operating expenses .
On a cash basis, capital expenses this year totaled $121,445, which is under the 2020 budget of
$251,988. Inflow & Infiltration (I/I) expenses were $57,373 less than budget, and Software
conversion costs were $22,925 less than planned due to the delayed implementation of BS&A
utility billing software related to COVID precautions.
Sewer Improvement Projects CIP Ref Budget Actual Comments
Sewer System Equipment
Replacement
CIP# 53 $62,385 $12,200 Project Deferred
Utility Billing Software Replacement CIP #25 $35,103 $12,118 In Progress
Total $97,488 $24,318
Street Reconstruction Projects CIP
Ref
Budget Actual Comments
Inflow/Infiltration Improvements CIP#18 $154,500 $97,127 Some improvements deferred
Transfer out for Water
Improvements - CSAH
21/TH13/Main Ave/Arcadia
CIP
#10
Budgeted in
2019
$338,000 Project budgeted in 2019 but final
transfer in 2020 based on
completed project costs.
Total Infrastructure Spending $154,500 $435,127
Transfers out included $294,110 for operating transfers and $338,000 for street project transfers.
Other financing sources total $903,967 and include capital contributions from developers of $887k
and $16k for amortization of bond premium.
Page | 12
Storm Water Fund
The financial report for the Water Quality Fund reflects six bi -monthly billing cycles. Storm water
operating revenue totaled $1,175,189 which is an increase of $114,897 or 10.84% over 2019.
This is due primarily to a rate increase from $15.06 to $16.57. Storm Water revenues are based
on flat rates per billing cycle.
Operating revenue was favorable to budget by $8,512. The positive variance is attributable to an
increase in the number of accounts over the number of accounts budgeted.
Non-Operating Revenue included interest earnings of $30,871 and $21,084 from Scott County
and Credit River Township for Markley Lake drawdown per cost share agreement. There were
no transfers-in during 2020.
Total operating expenses, before depreciation, were $511,321 which was $69,076 more than
2019, and is favorable to budget by $147,591 primarily i n professional services ($92,257), and
repair and maintenance supplies ($28,314). Professional services were underbudget due to a
budgeted $85,000 stormwater model that did not commence until late in the year, planned Pike
Lake Outlet Channel improvements being budgeted in maintenance activities but recorded as a
capital expense, and an unused seasonal/temporary budget as there was no seasonal employees
hired related to City’s COVID response.
Depreciation expense is $117k which is 18% of the operating expenses.
On a cash basis, capital expenses this year total $108,907, or $33,907 more than budgeted. This
is due to Pike Lake Outlet Channel expenses being capitalized rather than treated as a
maintenance item where it was budgeted, as mentioned above. The status of the capital
improvement costs is shown below:
Storm Sewer Improvement
Projects
CIP Ref Budget Actual Comments
Stormwater Infrastructure
Maintenance
CIP #20 $75,000 $108,907 In addition to budgeted
activity, Prior Lake Outlet
channel culvert replaced was
completed and reclassified
from an expense to a capital
asset addition.
Total $75,000 $108,907
Transfers out include $85,780 for operating activities.
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 2020, the Council approved a transfer of $161,250
from the General Fund to the EDA for economic development initiatives. There was not a similar
transfer in 2019.
Revenues of $640,461 exceeded expenditures of $257,657 by $382,804. Components of the
increase in fund balance are as follows:
Page | 13
• The Council approved the transfer from the City to the EDA of 4662/4664 Dakota St
properties. This is accounted for as a contribution (from other fund). -$180k fav
• The three properties next to City Hall, 4662/4664/4666 Dakota St are for sale, so GAAP
accounting standards require that the assets are accounted for as “Assets Held for
Resale” at net realizable value. This “moves” the cost to the balance sheet and reduces
expenditures - $237k fav
• Write off of Plate on Main forgivable loan as the terms of the loan were met. – ($46k) unfav
• The EDA received donations for the downtown mural. Donations are not a budgeted line
item - $5k fav. These donations were expended with the completion of the mural in 2020.
Page | 14
Attachment 2 – Proposed Use of General Fund Reserves
As noted in the attached 2020 preliminary year-end agenda report, the estimated General Fund
fund balance for 2020 and 2021 and the related General Fund reserve % are as follows:
The Comprehensive Financial Management Plan (CFMP) recommends maintaining reserves in
a range between 40% and 50% o f subsequent year expenditures. A reserve estimate of 50%
would be $7,948,000 for year-end 2021. The reserve estimate above the CFMP range is
$2,029,000 as shown below.
Staff recommendation for use of General Fund reserves of $2,029,000 (amount above the 50%
estimate) is summarized below.
Amount Fund Description
41,000$ General Fund
Assistant Fire Chief - one time funding use based on September 1,
2021 start.
41,000 General Fund Receptionist - one time funding use based on mid-May 2021start date
747,000 General Fund
Maintain an additional 5% in the General Fund- one-time Police comp
study wage adjustment/unplanned items/resiliency/sustain GF
balance at the upper end of the CFMP range
1,000,000 Facilities Fund
10 yr avg expenditures of $745,000. 10 yr avg funding of $570,000.
Programmed additional costs over the next four years for potential
Fire Station renovation related to duty crew structure, Library/Club
Prior parking lots and Police Dept parking lot and security
enhancements. Add to fund balance now would bridge the funding
gap and minimize future debt issuance.
200,000
Equipment
Replacement Fund
10 yr avg expenditures of $1,375,000. 10 yr avg funding of
$1,275,000. Add to fund balance now would bridge the funding gap
and minimize future debt issuance.
2,029,000$