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Home My WebLink About01(A) - 2023 Preliminary Budget and Tax Levy Report City of Prior Lake Council Worksession 8/1/2022 2023 Budget Attachment 1 Budgeted Funds Preliminary Debt Capital Revolving Revolving Park Permanent Facilities Total Total General Service Cable Park Equipment Equipment Improvement Management EDA Governmental Water Sewer Water Quality Enterprise Budgeted Fund Funds Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds Funds Revenues / Sources Property Taxes Levy - Tax Capacity 11,952,647$ 3,388,261$ -$ -$ 750,000$ 440,000$ -$ 155,000$ 370,000$ 17,055,908$ -$ -$ -$ -$ 17,055,908$ Levy - Market Value 233,888 - - - - - - 233,888 - - - - 233,888 MVHC Aid - - - - - - - - - - - - - Special Assessments - 498,143 - - - 110,535 - - 608,678 - - - - 608,678 Licenses & Permits 894,370 - - - - - - 894,370 - - - - 894,370 Fines & Forfeits - - - - - - - - - - - - - Intergovernmental 2,833,610 - - 250,000 - 299,000 - - 3,382,610 - - - - 3,382,610 Charges for Services 2,041,444 - 22,000 562,500 - 1,068,000 - 24,588 3,718,532 5,409,044 5,440,957 1,360,333 12,210,334 15,928,866 Other Revenues 292,500 30,700 - 44,400 10,000 13,700 5,700 14,600 2,600 414,200 72,900 38,400 25,100 136,400 550,600 Bond Proceeds - - - - - - - - - - .- - Lease Proceeds - - - - - - - - - - - - - - - Transfers From Other Funds - General Fund - 233,888 - - - - - - - 233,888 - - - - 233,888 Debt Service Funds - 25,000 - - - - - - - 25,000 - - - - 25,000 Water Fund 223,000 607,213 - - 108,750 - - - - 938,963 - - - - 938,963 Sewer Fund 222,000 - - - 108,750 - - - - 330,750 - - - - 330,750 Water Quality Fund 110,000 - - - - - - - - 110,000 - - - - 110,000 Trunk Reserve Fund - - - - - - - - - - - - - - - TIF Fund - 25,500 - - - - - - - 25,500 - - - - 25,500 PIR Fund - 203,100 - - - - - - - 203,100 - - - - 203,100 Facilities Management Fund - - - - - - - - - - - - - - - Capital Park Fund - - - - - - - - - - - - - - - Police Forfeiture Fund - - - - - - - - - - -$ -$ -$ - Total Revenues / Sources 18,803,459$ 5,011,805$ 22,000$ 856,900$ 977,500$ 752,700$ 1,184,235$ 169,600$ 397,188$ 28,175,387$ 5,481,944$ 5,479,357$ 1,385,433$ 12,346,734$ 40,522,121$ Expenditures / Uses Employee Services 13,082,130$ -$ -$ -$ -$ -$ -$ -$ 148,115$ 13,230,245$ 1,075,953$ 734,962$ 366,805$ 2,177,720$ 15,407,965$ Current Expenditures 5,075,441 - 11,000 3,400 - - - - 94,500 5,184,341 1,876,722 2,404,058 298,850 4,579,630 9,763,971 Capital Outlay 62,000 - - - 1,372,600 - - - 385,000 1,819,600 135,500 247,000 711,000 1,093,500 2,913,100 Capital Improvements - - - 650,000 - 1,155,000 - 613,500 - 2,418,500 797,700 724,000 - 1,521,700 3,940,200 Subtotal 18,219,571$ -$ 11,000$ 653,400$ 1,372,600$ 1,155,000$ -$ 613,500$ 627,615$ 22,652,686$ 3,885,875$ 4,110,020$ 1,376,655$ 9,372,550$ 32,025,236$ Transfers To Other Funds General Fund -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 223,000$ 222,000$ 110,000$ 555,000$ 555,000$ Construction Fund 400,000 - - - - - - - - 400,000 - - - - 400,000 Equipment Fund - - - - - - - - - - 108,750 108,750 - 217,500 217,500 Park Equipment Fund - - - - - - - - - - - - - - - Debt Service Funds 233,888 - - - - - 203,025 - - 436,913 607,213 - - 607,213 1,044,126 PIR Fund - - - - - - - - - - - - - - - Facilities Management Fund - - - - - - - - - - - - - - - EDA Fund - - - - - - - - - - - - - - - Severance Compensation Fund - - - - - - - - - - - - - - - Contingency - - - - - - - - - - - - - - - Debt Service - 5,328,992 - - - - - - - 5,328,992 169,850 169,850 - 339,700 5,668,692 Subtotal 633,888$ 5,328,992$ -$ -$ -$ -$ 203,025$ -$ -$ 6,165,905$ 1,108,813$ 500,600$ 110,000$ 1,719,413$ 7,885,318$ Total Expenditures / Uses 18,853,459$ 5,328,992$ 11,000$ 653,400$ 1,372,600$ 1,155,000$ 203,025$ 613,500$ 627,615$ 28,818,591$ 4,994,688$ 4,610,620$ 1,486,655$ 11,091,963$ 39,910,554$ Change in Fund Balance (50,000)$ (317,187)$ 11,000$ 203,500$ (395,100)$ (402,300)$ 981,210$ (443,900)$ (230,427)$ (643,204)$ 487,256$ 868,737$ (101,222)$ 1,254,771$ 611,567$ 2023 Property Tax Levy Comparison Council Worksession 8/1/2022Attachment 1 Change 22 - 23 Property Taxes 2022 2023 Amount Percent Levy - Tax Capacity General Fund - Operating 10,003,394$ 11,952,647$ 1,949,253$ 19.49% Debt Service Funds 3,455,529 3,388,261 (67,268) -1.95% Revolving Equipment Fund 700,000 750,000 50,000 7.14% Revolving Park Equipment Fund 405,000 440,000 35,000 8.64% Permanent Improvement Revolving Fund - - - n/a Facilities Management Fund 105,000 155,000 50,000 47.62% Levy - Economic Dev Authority 360,000 370,000 10,000 2.78% 15,028,923 17,055,908 2,026,985 13.49% Levy - Market Value - General Fund 223,838 233,888 10,050 4.49% Total Levy 15,252,761$ 17,289,796$ 2,037,035$ 13.35% 2023 Budget Expenditure Comparisons (2022 Original Budgets) Capital Revolving Revolving Park Permanent Facilities Total Total General Debt Service Cable Park Equipment Equipment Improvement Management EDA Governmental Water Sewer Water Quality Enterprise Budgeted Fund Funds Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds Funds 2023 Total Expenditures / Uses 18,853,459$ 5,328,992$ 11,000$ 653,400$ 1,372,600$ 1,155,000$ 203,025$ 613,500$ 627,615$ 28,818,591$ 4,994,688$ 4,610,620$ 1,486,655$ 11,091,963$ 39,910,554$ 2022 Total Expenditures / Uses 16,585,887$ 5,593,912$ -$ 3,200$ 921,400$ 158,000$ 282,751$ 1,013,000$ 620,557$ 25,178,707$ 4,229,137$ 4,602,873$ 1,168,025$ 10,000,035$ 35,178,742$ Change 2022 to 2023 ($)2,267,572$ (264,920)$ 11,000$ 650,200$ 451,200$ 997,000$ (79,726)$ (399,500)$ 7,058$ 3,639,884$ 765,551$ 7,747$ 318,630$ 1,091,928$ 4,731,812$ Change 2022 to 2023 (%)13.67%-4.74%n/a n/a 48.97%631.01%n/a -39.44%1.14%14.46%18.10%0.17%27.28%10.92%13.45% 2023 Budget Expenditure Comparisons (2022 Amended Budgets) Capital Revolving Revolving Park Permanent Facilities Total Total General Debt Service Cable Park Equipment Equipment Improvement Management EDA Governmental Water Sewer Water Quality Enterprise Budgeted Fund Funds Fund Fund Fund Fund Revolving Fund Fund Funds Fund Fund Fund Funds Funds 2023 Total Expenditures / Uses 18,853,459$ 5,328,992$ 11,000$ 653,400$ 1,372,600$ 1,155,000$ 203,025$ 613,500$ 627,615$ 28,818,591$ 4,994,688$ 4,610,620$ 1,486,655$ 11,091,963$ 39,910,554$ 2022 Total Expenditures / Uses 16,864,687$ 5,593,912$ 39,780$ 3,200$ 1,351,400$ 196,000$ 282,751$ 1,013,000$ 623,857$ 25,968,587$ 4,229,137$ 4,602,873$ 1,168,025$ 10,000,035$ 35,968,622$ Change 2022 to 2023 ($)1,988,772$ (264,920)$ (28,780)$ 650,200$ 21,200$ 959,000$ (79,726)$ (399,500)$ 3,758$ 2,850,004$ 765,551$ 7,747$ 318,630$ 1,091,928$ 3,941,932$ Change 2022 to 2023 (%)11.79%-4.74%n/a 20318.75%1.57%489.29%-28.20%-39.44%0.60%10.97%18.10%0.17%27.28%10.92%10.96%