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Home My WebLink About_05 01 2023 City Council Agenda Packet 4646 Dakota Street SE Prior Lake, MN 55372 City Council Meeting at City Hall Monday, May 1, 2023 City Council Work Session Agenda CANCELLED City Council Meeting Agenda 7:00 p.m. Reports included with this agenda can be found in the Document Center by clicking here or at https://www.priorlakemn.gov/ \\Doc Center\\City of Prior Lake\\City Council, Planning Commission and Advisory Committees\\City Council\\City Council Agenda Packets\\2023\\05 01 2023 1. CALL TO ORDER and PLEDGE OF ALLEGIANCE 2. PUBLIC FORUM The public forum is intended to afford the public an opportunity to address concerns to the City Council. The public forum will be no longer than 30 minutes in length and each presenter will have no more than five (5) minutes to speak. Topics of discussion are restricted to City governmental topics rather than private or political agendas. Topics may be addressed at the public forum that are on the agenda. However, topics that are the subject of a public hearing are best addressed at the public hearing, not at public forum. Therefore, topics may not be addressed at public forum if: (I) the topic has been the subject of a public hearing before the City Council or any City Advisory Committee and the Council has not acted on the topic; or (ii) if the topic is the subject of a public hearing for which notice has been published in the City’s official newspaper, or a continued public hearing or public information hearing before the City Council or any City Advisory Committee. During public forum, a member of the public may request that the City Council consider removing an item from the Consent Agenda following the procedure set forth in Section 401.5. The City Council may discuss but will not take formal action on public forum presentations. Matters that are the subject of pending litigation are not appropriate for the forum. 3. APPROVAL OF AGENDA 4. MINUTES A. Approval of the April 17, 2023 City Council Meeting Minutes 5. CONSENT AGENDA Those items on the Council Agenda which are considered routine or non-controversial are included as part of the Consent Agenda. Unless the Mayor or a council member specifically requests that an item on the Consent Agenda be removed and considered separately, items on the Consent Agenda are considered under one motion, second and vote. Any item removed from the consent agenda shall be placed on the council agenda under Items Removed Consent Agenda Items. A. Approval of Claims Listing B. Approval of the Preliminary 1st Quarter 2023 Financial Reports C. Approval of March 2023 Treasurer's Report D. Approval of 1st Quarter 2023 Investment Report E. Resolution Authorizing the Receipt of Quote and Award Contract for Well 5 Rehabilitation Project 6. PRESENTATIONS A. Proclamation to Declare the Second Week in May 2023 as Youth Appreciation Week 7. PUBLIC HEARINGS A. Resolution Approving Vacation a Drainage and Utility Easement at 16080 Simms Court SE 8. OLD BUSINESS A. Resolution Approving a Temporary Dock Slip Placement for Waters Edge Marina 9. NEW BUSINESS 10. REMOVED CONSENT AGENDA ITEMS 11. COUNCILMEMBER LIAISON UPDATES / COUNCILMEMBER REPORTS 12. OTHER BUSINESS 13. ADJOURNMENT ITEM: 4A CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Heidi Simon, City Clerk PRESENTED BY: Heidi Simon AGENDA ITEM: Approval of the April 17, 2023 City Council Meeting Minutes RECOMMENDED ACTION: Approval of the April 17, 2023 City Council Meeting Minutes as presented. ALTERNATIVES: 1. Motion and second to approve the April 17, 2023 City Council Minutes as presented. 2. Motion and second to review or revise the April 17, 2023 City Council Minutes. ATTACHMENTS: 1. 04 17 2023 City Council Minutes 2. 04 17 2023 Public Presented Item City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 4646 Dakota Street SE Prior Lake, MN 55372 CITY COUNCIL MEETING MINUTES April 17, 2023 1. CALL TO ORDER Mayor Briggs called the meeting to order at 7:00 p.m. Present were Councilors Braid, Burkart, Churchill and Lake. Absent: None. Also in attendance was City Manager Wedel, City Attorney Kendall, Police Commander Olson, Executive Assistant Schroeder, Public Works Director Brotzler, Community Development Director McCabe and Finance Director Erickson. Mayor Briggs: Noted information regarding agenda item 9B information that had been circulating to add boat slips, which was inaccurate. 2. PUBLIC FORUM Stan Kempton, 6750 Rustic Road SE: Here to discuss Waters Edge Marina and their request. I was in attendance in November, and the Council noted that they would not extend their dock request for another season. A few days ago, found out that it was back on the Council agenda for 2023. Most residents don’t get online for advance notice of Council items, so we get caught off guard when these issues come. The misinformation is unfortunate, but there is a history that predates most of the Council members. There is a history of deception of the Oakland Beach Association, Manor Association and Waters Edge Marina. When Waters Edge attempted to extend the 50 boat slips, they did not inform the community. I am requesting that you deny their request. The question of special consideration is that when the water levels go down it affects everyone. So why is there special consideration for the Waters Edge Marina? When it was approved last May, the Waters Edge Marina did not follow the plan. To my knowledge, the Council was not aware of that. New approval was not given. Instead of going straight out, they went out to the left. Waters Edge Marina wants special consideration but won’t give the same special consideration to the neighbors. Janet Misgen, 6730 Rustic Road SE: Spoke last November stating I could swim over to the dock that they wanted to expand. They are very close. It was stated clearly in the November meeting that no one owns the surface of the water. As Stan mentioned, we have been in Prior Lake for over 35 years. We experienced the 1988 drought, and we had to adjust. We are taxpayers, we are residents of Prior Lake. I know the Water’s Edge Marina owners are not residents. Of course, they would like to expand and receive as much revenue from the property. They are impacting the bay. One of my concerns is that we barely had any notice about this meeting therefore I am feeling unprepared. I feel like as an adjacent property owner, I would like direct notification. If the surface water of the lake went down, we would have to ask the Marina’s permission to cross their water way. I would like to research how their presence affects my use of Boudin’s Bay. I am opposed to adding more boat slips, even on a temporary basis. 1 Renee Schmid, Owner of Waters Edge Marina: The request is to allow a temporary extension of the dock. This is not a request to add more slips, contrary to the petition that was circulated over the weekend. Even with snowfall this past season, as of today our first 18 slips have less than 15” of water. You cannot put a boat in those slips, you cannot back a boat out. This will affect our ability to operate our business. The water was so low last fall that contractors who run barges in and out could not get through the channel. We are a small family-owned business. The 36-foot dock extension we put in did not go in until August last year. This caused customers to damage their watercrafts due to low lake levels at the docks. We are looking for your support. Since the ice went out last week, and we are expected to be operational by May 1 we have a short window of time to figure this out. We hope that the lake levels increase, but in the meantime, we have to make dock repairs and conduct inspection. Without this extension, we need to refund our customers, which affects our business revenue. In the past we have reached out to the adjacent communities to coordinate a discussion with no response. Burkart: Tell me about your client base at your dock; how many are boat club members and how many are private citizens? Renee Schmid: Boat club runs 20 slips and 30 individual renters. Ron Hocevar, Scott County Attorney: Introducing himself and he is available to Prior Lake for any county issue that comes up. Noted crime in Scott County is down overall and we have a great relationship with the Prior Lake Police Department. Ron passed out his business card to the council. Ken Misgen, 6730 Rustic Road SE: The way I understand it, Waters Edge Marina increased the number of slips added in order to get more slips because the slips near the shore did not have access. With the water from Spring Lake to Prior Lake increasing, and the rainfall increasing the water level as well as their dredging last winter for the slips close to the water; when is the date that the Council would vote on allowing those slips to stay? Seems like it would make more sense to wait until spring is over to decide. Shelley Schmokel, 14872 Estate Ave: Here to understand what your boat club is in regard to this resolution. Waters Edge Marina stated they provide 20 slips to the boat club; in pulling up the fleet sheet, they state they have 53 slots at that location. Cynthia Kempton, 6750 Rustic Road SE: She looks directly at the docks and was not an issue until last year when it was significantly extended and pushed to the left. This made our passage out of our dock difficult. We found out about this meeting on Saturday, we talked to our neighbors and received signatures from citizens that were interested in and against this extension. I will provide a copy to the Council. (This item was provided to the Council on 4/17/2023 and is attached at the end of these minutes) Dan Schmid, Owner of Waters Edge Marina: We are not asking for more slips, we have had 50 for the last 13 years. The city has a topographical map of the entire bay. Our dock sits in conformity with what was approved, leaving plenty of room for navigation. To clarify about the boat club, they only have 20 slips and that has remained unchanged for many years. 2 04 17 2023 City Council Meeting Minutes Briggs: Was there any dredging that took place last year? Dan Schmid, Waters Edge Marina: We did not dredge. We were approved to dredge, we tried to dredge and the warm weather in February halted operations when Scott County implemented their restrictions with hauling therefore our contractor was unable to get the equipment to our site. Again, there has been no dredging done. Janet Misgen, 6730 Rustic Road.: Apparently there was an extension to meet and have a discussion with Water’s Edge Marina, we did not hear about it. Clarified the homeowners association does not include those who live on the water, it only includes those who are off the water so they can have access to the lake. Wedel: Addressed comments regarding the notice of this approval at the Council meeting. The city does not provide notice to the surrounding citizens to extend the dock, if it was to add slips it would have triggered a notice to the property owners. As homeowners you don’t have to ask for an extension to adjust your docks, you just have the right to do that. There are associations that have docks by permit, that do need to consult the city for an extension into deeper water to make them usable. That is what is being discussed this evening therefore that does not trigger a public hearing or public notice. If it was an expansion of their use, every property owner surrounding would be notified. Their current number of slips that they are permitted for is 50, and that was approved in 2011 by the DNR as they were the approving authority at that time. This authority now lies with the City. No addition of slips is being considered this evening. Questions regarding the lake levels will be answered by Director McCabe. Briggs: Under extension, we heard comments that where it was permitted to be was not where it was. Can you summarize? McCabe: The comment related to the direction of the dock, when the applicants applied last May and received approval of the extension the exhibit that was shown to the Council was one drafted by staff and not the applicant. When they extended it, it was slightly offline from the image that was shared but it was not from Waters Edge Marina. Wedel: If the lake levels come up, the permission for extension is only granted for this season. We would not ask them to pull it back if lake levels go up, it would be good for the entire season. Each October it would have to be requested for the following season. Briggs: Heard comment regarding potential deception and lapse in communication. Attempting to identify leadership in these homeowners’ associations is difficult. Also, the fact that the homeowners on the water are not in an association which provide difficultly with notification. Wedel: We will take that under advisement for the future. 3 04 17 2023 City Council Meeting Minutes 3. APPROVAL OF AGENDA MOTION BY BURKART SECOND BY CHURCHILL, TO APPROVE THE AGENDA AS PRE- SENTED. VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ The motion carried. 4. APPROVAL OF CITY COUNCIL MEETING MINUTES A. Approval of the April 3, 2023, City Council Minutes MOTION BY BURKART SECOND BY BRAID, TO APPROVE THE APRIL 3, 2023, MEETING MINUTES AS PRESENTED. VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ The motion carried. 5. CONSENT AGENDA A. Approval of Claims Listing B. Approval of Treasurer's Report – January 2023 C. Approval of Treasurer's Report – February 2023 D. Resolution 23-65 Accepting 1st Quarter Donations and Grants E. Approval of 2022 Preliminary Year-End Financials F. Resolution 23-66 Approving 2023 Municipal State Aid Street System Revisions G. Resolution 23-67 Authorizing the Purchase of the Traffic Signal for Fish Point Road Phase 3 Intersection Improvements (CP 2023-03) H. Approval of a Request from Island View 1st Addition HOA Related to Dock Slip Placement I. Resolution 23-68 Approving the Purchase of Emergency Siren Replacements J. Approval of the March 2023 Building Permit Report K. Approval of the March 2023 Animal Control Services Report MOTION BY BRAID SECOND BY LAKE, TO APPROVE THE CONSENT AGENDA. VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ The motion carried. 4 04 17 2023 City Council Meeting Minutes Burkart: Thanked Shakopee Mdewakanton Sioux Community for their first quarter donation of $300,000. Lake: Also extended his gratitude to the Shakopee Mdewakanton Sioux Community for their dona- tion. 6. PRESENTATIONS 6A. Police and Fire Presentation Fire Chief Steinhaus and Police Commander Olson presented the item. 7. PUBLIC HEARINGS A. CH 21 CH 87 170th Street Construction Project (CP 2020-29) – Public Hearing to Consider Adoption of a Resolution Ordering the Improvements City Manager Wedel presented the item to the Council. Public hearing opened at 7:46 p.m. by CHURCHILL seconded by LAKE VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ No comments. Public Hearing closed at 7:47 p.m. by LAKE seconded by CHURCHILL VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ MOTION BY BRAID SECOND BY CHURCHILL, TO APPROVE RESOLUTION 23-69 th ORDERING THE IMPROVEMENTS to CH 21, CH 87, 170 STREET CONSTRUCTION PROJECT (CP 2020-29) VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ 5 04 17 2023 City Council Meeting Minutes 8. OLD BUSINESS None. 9. NEW BUSINESS A. Resolution Authorizing the Competitive Negotiated Sale of General Obligation Bonds, Se- ries 2023A Finance Director Erickson introduced the item to the Council. MOTION BY BURKART SECOND BY BRAID, TO APPROVE RESOLUTION 23-70 AUTHORIZING THE COMPETITIVE NEGOTIATED SALE OF GENERAL OBLIGATION BONDS, SERIES 2023A VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ B. Resolution Approving a Request from Waters Edge Marina related to Dock Slip Placement Community Development Director McCabe introduced the item to the Council. Briggs: Asked for the rationale for October 15 of each year verses January 1. McCabe: In conversation with the property owners, a date being decided in the spring is too late in the season as the marina and the watershed district need more time to prepare. Picking a date in the fall not only allows the gauge in the lake to measure the levels but provides ample notice. Briggs: The visual on the dock placement in this item, is that a 2022 contemporary imagine? McCabe: This photo is from 2020. We do have 2022 aerials, but it is not included. Briggs: Is this the location that this dock system is in, and does it allow for navigational space? Renee Schmid: The only change on the dock is at the very end the T section had to shift to the left due to the water on the north end being shallow. We can’t impede navigation, that is part of the DNR requirements. We shifted slightly; Dan will give more information. Dan Schmid: It goes down to an elevation of 894 to the South and the West. We moved that end 24’ this way, width is 250’. From a percentage standpoint it’s not that far off. Briggs: Then this visual is not accurate, but by shifting that it gave relief to the North. Stan Kempton: The whole green section is shifted downward in the picture. Briggs: Would like an image that accurately depicts the current set up. 6 04 17 2023 City Council Meeting Minutes Braid: There are currently boat lifts on the property down there, is that part of the permit? Are they allowed to have those lifts there? With the conditional use permit, is there additional language we can add about notification to the neighboring property owners should we decide to approve. McCabe: If the request was to extend the dock to add slips it would require a notification within 350 feet of the Water’s Edge Marina and would have a public hearing at the Planning Commission. This extension does not require notice. I am unsure what the lifts are or who they belong to. My under- standing is the boats are just at the dock. Braid: Are the boat lifts there for business or storage? Dan Schmid: Four or five are owned by a customer who lost their place of business last year and needed a storage spot for the year, will be removed in the next week. Braid: Is this a new revenue stream and is this going to be allowed next year? Dan Schmid: No, we do not charge, and he found a new place for storage. Braid: Noticed that there were excavators on site, looked like they were excavating towards the front of the dock. Is that for dredging? Dan Schmid: Correct, those were for dredging that did not occur. Braid: No dock excavation, correct? Dan Schmid: Correct, they tried to remove the snow so the frost could build up, but they got stuck in the snow. Briggs: Noted this image is not how it is actually setup and wants to have direction. McCabe: Property owners stated that they are in a time crunch to know if that extension needs to be removed. If the approved configuration is similar to what is shown, we can do some quick meas- urements on distances from neighboring docks. The Schmid’s were referring to the navigation. If the Council wanted to approve this exact configuration, we will require them as staff to have this centered at the end of their dock extension. Churchill: Last year the extension was only 36’ and I am wondering because its going to be 48’ this year it will allow it to be easier to have a T instead of an L. Dan Schmidt: We don’t have material to add an additional 12’. Lake: The reason for the L is for the shallow waters on the north, correct? Dan Schmid: The 100’ on the end was shifted 24’ south to accommodate deeper water. If that is a concern, we can address it. Braid: Without having the actual visual representation of what we are going to approve, I am strug- gling to approve. I think certain liberties were taken on the last approval. Would like better visual representation. Better communication with the neighbors should be attempted. Burkart: The docks are out, and they are in the current position. Last year when I drove by and first saw the change to the docks, I noticed it was not what I thought I had approved. Disheartened by 7 04 17 2023 City Council Meeting Minutes that. Last year the lake level was 900.2 and it is currently 899.9. We have 9 inches to go. It seems premature to me as I think we have a lot more watershed coming into the lake. I do not feel like we have accurate information. I would like this to be tabled and revisited at the May 1 meeting and reassessed at that time. Briggs: Requesting staff to provide an updated visual of what we would be approving. st Churchill: The Marina will need to put boats in on May 1, this is potentially unfair to them to make them wait until its too late. Burkart: Wants to wait and see where the water levels will be at in a few weeks to make a better decision. MOTION BY BURKART SECOND BY BRIGGS, TO TABLE THE RESOLUTION AUTHORIZING THE REQUEST FROM WATERS EDGE MARINA RELATED TO DOCK SLIP PLACEMENT RE- QUESTING AN ACCURATE GRAPHIC VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ 10. Removed Consent Agenda Items None. 11. COUNCILMEMBER LIAISON UPDATES / COUNCILMEMBER REPORTS Lake: 4/7 SCALE Executive, 4/14 SCALE General, 4/14 Agenda Review Churchill: 4/12 Chamber of Commerce Business, 4/14 SCALE General, 4/14 Agenda Review Burkart: 4/6 HWY 169 Corridor Coalition, 4/10 Suburban Transit Association, 4/10 Scott County Planning Advisory Commission, 4/12 HWY 169 Corridor Coalition, 4/17 MVTA Management Meet- ing and Agenda Review Braid: 4/10 Scott County Planning Commission, 4/11 Prior Lake Snowmobile Club, 4/17 Agenda Review Briggs: 4/10 Regional Council of Mayors, 4/10 Scott County Planning Commission, 4/13 Met with Governor Walz, 4/14 SCALE General 12. OTHER BUSINESS None. 8 04 17 2023 City Council Meeting Minutes 13.ADJOURNMENT MOTION BY LAKE, SECOND BY CHURCHILL, TO ADJOURN THE MEETING AT 8:18 p.m. VOTE Briggs Braid Burkart Churchill Lake Aye ☒ ☒ ☒ ☒ ☒ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ The motion carried. Respectfully Submitted, Jason Wedel, City Manager 9 04 17 2023 City Council Meeting Minutes Oakland Beach Association Name:Address: 6 zzo Susf/a taKerv frt'aru Jn*r ktuSfutzt) Trere;q Aus/o-, J Jiretr^ -feG-] tt 1 fl" Signature: ,6.*d '/vrz?:*-z'n4",Z *- lM,lq L^t 0or flrs hG //(t( btt3 (3o"1;n1] l'l8S,l tbrt+ -l-rl 51 l",tt t tlh$ fliJ1tVvU1 llAriltz t ,ltl Su"^ (**-p-{o'-. d, A*d*to^ fr^trw'" #.q /r-z s- ?.-*m Ed, hgt , buli'n S+ tYf, tl -e4 1l lt aftw Nz- l|"tq,> 6l<.^l.L< Ava Sc Z4' l.//Yv1--y\---,,' (r r,"1 {}..y).,-^",-Ck;t S""rt k1c,, {\t-*^- f0\rt,'- {5r r,", 6o\ v t,'-' .4,,- ky k^pt"- *{ Z- tLlLtlL 6tut*t^- A"^ )€ \"1n(l tnn,okk',1$t t'{8ttt v^J7r< +"\ S1 fa1a Y"'+'c;z'J'-' 'l fir*n'1nSl' Ao\* So *Sara.ru 0*-fz) 71 fu? 5r Purslrc U S€ c-t 51 A-q Lt r[b{ A bbq{ ffusltut4,Se LQzr k@+c PrE (nso Pa,usnL Pd.SB pno,r VaW, MN 66t /-zl< r,,/:t- /z;,4 hL, *'n qlUS sa$h'c P/ SL Pt titt La.L, rnlv C 7)t (rs7rc Oakland Beach Association Name:Signature: ,fnt* t4/4gk^24,f-/'- ebber'g V, ATL {F-r- 6606 Po tr!c- lL-D 5L tYtor 0to1 tlvtJv UshL 8l St 615 >L, NPr Vat4v-uffir,u /ni/t (u/o,t^ ln/d..?1 lzqff Address: Q---e l,roo_cus l+oppr]- C,f"J"-, )G''{"^ M Payments Issued 4/8/2023 - 4/21/2023 DateChecksACHEFTTotal 4/10/2023 3,813.07 3,813.07 4/11/2023 1,967.59 1,967.59 4/12/2023 97,577.32 97,577.32 4/13/2023 239,840.97 23,723.53 263,564.50 4/17/2023 2,358.46 2,358.46 4/20/2023 1,682.78 1,682.78 4/21/2023 194,845.14 110,837.39 2,872.94 308,555.47 434,686.11 134,560.92 110,272.16 679,519.19 ITEM: 5A CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Janet Ringberg, Accounting Specialist PRESENTED BY: Cathy Erickson, Finance Director AGENDA ITEM: Approval of Claims Listing RECOMMENDED ACTION: Adopt claims listing as presented. BACKGROUND: The current claims listing is a check register which includes a chronological listing of payments issued (check, EFT, ACH, and wires) with the associated vendor and description of the claim paid. The option to include a general ledger account number is not available with this report. ALTERNATIVES: 1. Motion and second as part of the consent agenda to adopt the claims list as presented. ATTACHMENTS: 1. 5A Claims Listing 05 01 2023 City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 CHECK REGISTER FOR CITY OF PRIOR LAKE 1/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date Bank 1 General Bank 1,313.00 Mar 2023 Merchant FeesINVOICE CLOUD000280919799(E)04/10/2023 2,500.07 Mar 2023 Merchant Card FeesTRANSFIRST000206939800(E)04/10/2023 1,967.59 2023 Dental ClaimsDELTA DENTAL000272139797(E)04/11/2023 97,577.32 Apr 2023 Health Insurance PremiumsMEDICA000133259798(E)04/12/2023 1,155.20 FS #1 MirrorsA SCHOMMER GLASS INC0000104011193604/13/2023 21.76 UB refund for account: 10052507ADELMANN BENREFUND-UB11193704/13/2023 354.50 Escrow Return A1120-000001AT&T/NEW CINGULAR WIRELESS PCS LLCREFUND-MSC11193804/13/2023 111.94 UB refund for account: 40813901BRUGH MIKEREFUND-UB11193904/13/2023 22.58 UB refund for account: 10149505CHANG IOKHOUREFUND-UB11194004/13/2023 28.29 Club Prior 1st Aid SuppliesCINTAS CORPORATION0000350611194104/13/2023 7.61 UB refund for account: 30007200CROOM SHARONREFUND-UB11194204/13/2023 4,151.33 Mar 2023 UB Billing CSG SYSTEMS INC0002750611194304/13/2023 182.65 Mar 2023 Bottled WaterCULLIGAN BOTTLED WATER0000395811194404/13/2023 4,768.94 506SB Blower ImpellerCUSHMAN MOTOR COMPANY INC0000398011194504/13/2023 1,350.00 Survival Camp InstructorECOELSA LLC0002830511194604/13/2023 9.20 UB refund for account: 10023617EDINA REALTY RELOCATIONREFUND-UB11194704/13/2023 257.33 Engine 1 Service CallEMERGENCY APPARATUS MAINT0000547511194804/13/2023 2,705.44 Water MetersFERGUSON WATERWORKS #25160000623111194904/13/2023 164.12 Water Meters 170.10 Water Meters 3,039.66 26.17 UB refund for account: 30909401FUCHS DREWREFUND-UB11195004/13/2023 198.34 Oily Waste CanGRAINGER INC0002303011195104/13/2023 8.89 UB refund for account: 40023557GRZADZIELESKI RODNEYREFUND-UB11195204/13/2023 198.99 UB refund for account: 10402502HAWLEY STEVEREFUND-UB11195304/13/2023 944.30 Light Repair; FS1 & PDHAYES ELECTRIC INC0000831511195404/13/2023 627.70 Light Repair - WTF 1,572.00 750.00 Mar 2023 Line Dance InstuctorJEANNE DOUGLAS0002833711195504/13/2023 895.00 Holmatro Tools Preventative MtceJEFFERSON FIRE & SAFETY INC0001035911195604/13/2023 42.00 Holmatro Hydraulic OilJEFFERSON FIRE & SAFETY INC0001035911195704/13/2023 360.00 Mar 2023 Zumba InstuctorJENNIFER MARTH0002812311195804/13/2023 48.99 UB refund for account: 10652906JOHNSON SAMREFUND-UB11195904/13/2023 35.08 UB refund for account: 10404200JORGENSEN TODD/CHRISTINEREFUND-UB11196004/13/2023 7.11 UB refund for account: 10023536KEYLAND HOMESREFUND-UB11196104/13/2023 1,089.38 457 Rear leaf springs KREMER SERVICES LLC0001180011196204/13/2023 71,474.00 2nd Qtr 2023 Property /CasualtyLEAGUE MN CITIES INS TRUS0001243511196304/13/2023 104,647.00 2nd Qtr 2023 WC 176,121.00 164.11 UB refund for account: 10055001LORENZ CHELSEAREFUND-UB11196404/13/2023 129.00 Keypad DeadboltMENARDS LUMBER CO0001331811196504/13/2023 7,380.45 Mar 2023 SAC ChargesMETROPOLITAN COUNCIL-SAC0001340611196604/13/2023 4,212.00 1st Qtr 2023 UnemploymentMN UC FUND0001373411196704/13/2023 10,041.92 2023 Portable RadiosMOTOROLA0001393711196804/13/2023 2,586.32 2023 Portable Radios 12,628.24 13,022.90 Skid Unit for brush truckMTECH INC0002826511196904/13/2023 715.00 TIF 1-6NORTHLAND SECURITIES INC0001477511197004/13/2023 CHECK REGISTER FOR CITY OF PRIOR LAKE 2/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 887.00 Dell OptiplexNOW MICRO INC0002796611197104/13/2023 188.00 Dell Monitor 948.75 Dell Monitors 2,023.75 1,117.00 Dell LatitudeNOW MICRO INC0002796611197204/13/2023 80.62 UB refund for account: 20291800OHM STEVEREFUND-UB11197304/13/2023 29.28 UB refund for account: 30120505PETERSON MARLOREFUND-UB11197404/13/2023 111.42 510 Chipper CurtainPOWERPLAN0002243511197504/13/2023 26.57 510 Chipper rod linkage 137.99 143.60 UB refund for account: 30155101ROBINSON KENNETH JREFUND-UB11197604/13/2023 139.95 518 Heated wiper blades RUXER FORD LINCOLN INC0002809811197704/13/2023 128.84 UB refund for account: 40729404SCEPANIAK PAMREFUND-UB11197804/13/2023 361.97 518 Tarp air lock cylinders TOWMASTER0002065911197904/13/2023 340.56 465 Tarp air lock cylinders 702.53 236.87 Mar 2023 Misc SuppliesTRACTOR SUPPLY CREDIT PLAN0002066311198004/13/2023 14.54 521 Hose end TRUCK CENTER COMPANIES0002787811198104/13/2023 20.36 Electric - 4528 Colorado StXCEL ENERGY0001472011198204/13/2023 8,231.50 Marsh Drive ExtensionBOLTON & MENK INC000026379783(A)04/13/2023 182.00 Parkwood Estates Development 8,413.50 5,846.94 Mar 2023 General MattersCAMPBELL KNUTSON PA000280439784(A)04/13/2023 376.50 Mar 2023 Litigation 60.00 Mar 2023 AT&T at Cedarwood St 6,283.44 1,379.94 Apr 2023 Carpet Cleaning - LibraryCOMMERCIAL STEAM TEAM000037259785(A)04/13/2023 46.50 IT SupportCOMPUTER INTEGRATION TECH000037609786(A)04/13/2023 2,480.00 Flag & SuppliesDISPLAY SALES COMPANY000044939787(A)04/13/2023 174.15 Mar 2023 LocatesGOPHER STATE ONE-CALL INC000075259788(A)04/13/2023 47.99 Wireless KeyboardINNOVATIVE OFFICE SOLUTIONS LLC000271499789(A)04/13/2023 210.00 Safety Boots 2023JESSE ELLANSON000054639790(A)04/13/2023 24.30 Olson, Schroeder - Scott Co HR LunchLORI OLSON000271099791(A)04/13/2023 2,915.00 SCBA User ExamsMED-COMPASS INC000133069792(A)04/13/2023 221.47 Pesticide Applicator Training/ExamPHILIP RYAN000273099793(A)04/13/2023 646.00 Feb 2023 Data & SoftwarePRECISE MOBILE RESOURCE MGMT000165489794(A)04/13/2023 495.29 SuppliesVIKING ELECTRIC SUPPLY000226309795(A)04/13/2023 385.95 AshpaltWM MUELLER & SONS INC000236459796(A)04/13/2023 2,352.46 2023 Dental ClaimsDELTA DENTAL000272139801(E)04/17/2023 6.00 Apr 2023 Electric BillSHAKOPEE PUBLIC UTILITIES000193889802(E)04/17/2023 72.00 Apr 2023 COBRA Admin FeesALERUS000013759803(E)04/20/2023 488.78 Mar 2023 Fuel TaxMN DEPT OF REVENUE000136129804(E)04/20/2023 1,122.00 Mar 2023 Sales Tax 1,610.78 1,095.00 ElectroCut Film3M0002686211198304/21/2023 182.64 UniformsASPEN MILLS0000189111198404/21/2023 20,000.00 Wilds Ridge No - Partial Esrow ReturnBT & ASSOCIATESREFUND-MSC11198504/21/2023 CHECK REGISTER FOR CITY OF PRIOR LAKE 3/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 465.40 Motor RepairCANNON ELECTRIC MOTOR0000309211198604/21/2023 133.24 Lakefront Pavilion 1st Aid SuppliesCINTAS CORPORATION0000350611198704/21/2023 67.46 FS1 1st Aid Supplies 109.10 Mtce Center 1st Aid Supplies 109.17 FS2 1st Aid Supplies 7.15 PD 1st Aid Supplies 426.12 3,630.91 Street SweepingsDEM-CON LANDFILL LLC0000436011198804/21/2023 14.25 Tabs - 2021 Ford Explorer #53665DEPUTY REGISTRAR #1600000440011198904/21/2023 2,532.39 Apr 2023 RefuseDICK'S SANITATION INC0002791811199004/21/2023 116.00 Rubber BaseEARL F ANDERSEN INC0000517511199104/21/2023 40.00 Worms & Mud Class InstructorECOELSA LLC0002830511199204/21/2023 420.00 471 Curtain SetENVIRONMENTAL EQUIPMENT0000558411199304/21/2023 179.00 Water MetersFERGUSON WATERWORKS #25160000623111199404/21/2023 83.14 Water Meters 21.86 Water Meters 284.00 51.60 FusesGRAINGER INC0002303011199504/21/2023 903.71 Repair Wiring, Install Flag Pole, FS1 LiHAYES ELECTRIC INC0000831511199604/21/2023 80.00 Log DisposalHERMAN'S LANDSCAPE SUPPLIES0000861711199704/21/2023 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 80.00 Log Disposal 800.00 933.25 Campbell Lake Regional Stormwater AssessHRGREEN INC0002822511199804/21/2023 4,894.49 CSAH 21/Revere KIMLEY-HORN & ASSOCIATES INC0001137211199904/21/2023 800.00 Water Service Repair - FS1KLAMM MECHANICAL CONTRACTORS INC0002690411200004/21/2023 6,150.00 Q1 Inspections & Preventative Maint 6,950.00 100.06 535 Mirror KitLANO EQUIPMENT INC0001225511200104/21/2023 3,421.76 Claim #LMCCA000000269151LEAGUE MN CITIES INS TRUS0001243511200204/21/2023 1,050.00 MS4 Program - MCSC MembershipLEAGUE OF MINN CITIES0001245011200304/21/2023 35.00 Used oil filter disposal LOE'S OIL COMPANY0001272811200404/21/2023 767.70 PartsMENARDS LUMBER CO0001331811200504/21/2023 29.99 Plywood (77.38)Parts (501.48)Parts 218.83 25.00 Returned Check FeeMETROPOLITAN COUNCIL0001340011200604/21/2023 720.00 Foaming Hand SoapMINNCOR INDUSTRIES0001354311200704/21/2023 300.00 FES Rip Rap Repair Lower PLMN DEPT OF NATURAL RESOURCES0001380611200804/21/2023 301.26 VSQS Hazardous Waste FeeMN POLLUTION CONTROL AGCY0001385011200904/21/2023 CHECK REGISTER FOR CITY OF PRIOR LAKE 4/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 1,122.12 Mar 2023 Repair PartsNAPA AUTO PARTS0001406011201004/21/2023 3.96 Mar 2023 Repair Parts - FD 1,126.08 500.00 Baker - Basic SRO TrainingNATIONAL ASSOCIATION OF 0002835911201104/21/2023 92.92 510 Chipper Knives POWERPLAN0002243511201204/21/2023 3,114.95 Storage Cylinder TestingPRO HYDRO TESTING LLC0001683611201304/21/2023 380.40 Shop Rotary hoist repair PUMP AND METER SERVICE0002775611201404/21/2023 96.06 Misc SuppliesSAM'S CLUB0001903611201504/21/2023 26,468.53 1st Qtr 2023 Court FinesSCOTT COUNTY ATTORNEY0001923211201604/21/2023 350.00 Downtown QR Code SignsSDDI SIGNS0002758511201704/21/2023 129.19 PaintSHERWIN-WILLIAMS CO0001945611201804/21/2023 46,664.00 Mar 2023 Water PurchasesSMSC0001938411201904/21/2023 607.00 Apr 2023 Portable Toilets SPECIALIZED SANITATION0001970311202004/21/2023 8.67 Apr 2023 Phone BillT-MOBILE0002696211202104/21/2023 745.67 Return Antenna EscrowT-MOBILEREFUND-MSC11202204/21/2023 8,683.94 FS #1 Locker Room FloorsTHELEN HOME SOLUTIONS LLC0002836311202304/21/2023 126.00 Apr 2023 Schedule AnywhereTIMECLOCK PLUS LLC0002833411202404/21/2023 122.51 Plow Wing Rubber BufferTOWMASTER0002065911202504/21/2023 23.93 466 Air filter gauge TRUCK CENTER COMPANIES0002787811202604/21/2023 1,650.00 Excavation Safety & Confined Spaces TraiUNITED RENTALS INC0002319511202704/21/2023 113.00 Rifle SuppliesUS BANK0000210511202804/21/2023 32.16 Norcia - ATV Course 84.25 Boots 48.32 Drone Equipment 165.00 Cassman - Drone Training 235.75 PBT Dry Gas Replacement 850.00 Wedel, Briggs - Annual Conference 78.59 Agenda Review - JW,KB,KC 74.05 Hydraulic Couplers 37.12 Hydraulic Couplers 28.83 Oil Filter Wrench 1,071.41 Battery Jump Pack 154.52 Fuel Island Supplies 83.90 Fuel Island Supplies 34.00 Headlamp Battery 533.56 513 Hydraulic Oil 533.56 513 Hydraulic Oil 65.00 Ernste - Certification Renewal 38.37 FF Interview Panel 249.08 2023 Online Subscription 170.05 White Noise Machine 17.98 Jolly Ranchers 138.99 Bluetooth Headset 372.00 2023 Subscription 3,576.00 2023 Live Web Streaming & Hosting 112.00 Mar 2023 Background Checks 1,000.00 On-Line Submission Set Up Fee 190.00 Duggan - 2023 Membership 91.94 Narcia - POST License 810.00 2023 License Renewals 1,241.98 Brotzler, Monserud - Spring Conference 68.88 Donuts - MPCA Training 100.00 Mayer - Tree Insp Cert Workshop 300.00 Tree Inspector, Certification Workshop 135.00 Mn LTAP Conference 34.95 Keyboard & Mouse 202.13 Misc Office Supplies 79.44 Cell Phone Charging Stations CHECK REGISTER FOR CITY OF PRIOR LAKE 5/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 77.27 Coffee - MPCA Training 317.63 Pizza - PW Quarterly Meeting 686.52 Brotzler, Monserud - APWA Conference 62.83 Gun Safe 330.80 Snyder - Training Airfair 398.80 Olson - Training Airfare 20.67 Snyder - Travel Insurance 24.92 Olson - Travel Insurance 13.00 Trail Camera Subscription 93.99 Refreshments - Force Encounters Training 71.43 Fuel 300.00 Conference Registration 4.50 Meals - Training 215.95 Tac Robot Box 31.00 Drone Propeller Guards 21.95 SRT Name Tags 27.02 Meals - Training 70.27 Fuel 41.00 Parking - Training 62.00 Meals - Training 54.71 Meals - Training 76.73 Fuel 41.45 Meals - Training 13.57 Meals - Training 68.50 Meals - Training 112.71 Meals - Training 64.53 Meals - Training 126.03 Meals - Training 676.26 SRT Tool - Knives 70.00 Klekner - 2023 Membership Dues 150.00 Klekner - 2023 Membership Dues 29.69 Lunch - FF Interview Panel 68.85 Bottle Water - Council Chambers 51.48 Simon - 2023 Annual Dues 170.00 Mn Clerk's Institute - Year 1 368.28 Simon - Hotel MCFOA Conference 27.90 Cake, Ice, Water 175.00 2023 Membership Dues 199.99 Trash Cans 464.97 Shop Rags 94.66 Dinner - Storm Standby Crew 0.99 50GB iCloud Storage 32.00 Steinhaus - Paramedic Recert App Fee 318.00 Water Training 661.24 WD40, Fluid Film 85.80 City Hall Exit Signs 47.58 Testing Equipment 53.43 CH Light Bulbs 611.53 Light Bulbs 303.00 Asphalt 614.98 Fleet Wash and Wax 25.00 Coy - Workshop Registration 192.97 Comm Event Supplies 308.26 Coy - Hotel MNFEA Conference 300.00 Sr Luncheon Event Sponsor 18.20 Young - Dinner MASS Conference 36.03 Young - Dinner MASS Conference 232.12 Club Prior Supplies 28.41 Coffee 48.32 Club Prior Supplies CHECK REGISTER FOR CITY OF PRIOR LAKE 6/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 182.58 Van Rental - Club Prior Trip 38.49 Fuel - MASS Conference 368.28 Young - Lodging MASS Conference 336.00 Pocketjet Printer - Squad 7109 99.99 HDMI Wireless Transmitter 68.96 Wireless Mouse, Keyboard 11.92 HDMI Extension Cable 42.36 Coiled Extension Cord 21.97 USB Hub 2.99 50 GB Storage 552.89 FS #1 Kitchen Sink 802.31 Streamlights, Desk Lamp Holders 201.44 Rescue Webbing 249.90 Dorm Room Office Chairs 578.76 Defibrillator Pads 385.00 Blue Card Online Training Subsciption 388.95 Duty Boots 482.05 FS #1 Day Room TV Stand 42.92 Center Phone Mount 3,037.28 Radio Straps & Holders (315.00)Lewis - Camera Course Cancelled (595.00)FTO Training - Cancelled (179.00)Training - Managing Critical Incidents - (298.37)Retun FS #1 Kitchen Sink (47.66)Sales Tax Refund - 513 Hydraulic Oil 29,506.54 707.08 PartsUSA BLUEBOOK0002188211202904/21/2023 23,830.00 Lift Station Rehab - QuakerWW GOETSCH ASSOCIATES INC0002379511203004/21/2023 2,233.50 Lift Station Rehab - WildsBOLTON & MENK INC000026379805(A)04/21/2023 37,828.88 2023 SoftwareCARTEGRAPH SYSTEMS INC000032359806(A)04/21/2023 2,554.00 Apr 2023 Office 365COMPUTER INTEGRATION TECH000037609807(A)04/21/2023 1,536.00 May 2023 CIT Managed Backup 1,546.50 IT Support 544.50 IT Support 6,181.00 702.29 Boss sander motor CRYSTEEL TRUCK EQUIPMENT000039559808(A)04/21/2023 4,844.04 Condons LS#8ELECTRIC PUMP000231209809(A)04/21/2023 427.30 Cable TiesFASTENAL COMPANY000061409810(A)04/21/2023 57.08 Cable Ties 71.91 Cables Ties 556.29 248.56 469 Temp Level SensorFORCE AMERICA000067739811(A)04/21/2023 167.58 Plow Solenoid 67.42 466 Belly blade relief 483.56 105.80 MERV8G&B ENVIRONMENTAL INC000278749812(A)04/21/2023 70.80 MERV8 - FS1 304.20 MERV8 - WTF 469.80 MERV8- CH 70.20 MERV8 - PD 127.20 MERV8 - Lib CHECK REGISTER FOR CITY OF PRIOR LAKE 7/7Page: 04/24/2023 09:04 AM User: jringberg DB: Prior Lake CHECK DATE FROM 04/08/2023 - 04/21/2023 AmountDescriptionVendor NameVendorCheckCheck Date 119.40 MERV8 - FS2 60.00 MERV8 - Hockey 1,327.40 550.00 9202 DecalsGRAFIX SHOPPE000076159813(A)04/21/2023 1,224.30 Mar 2023 UniformsHUEBSCH000275369814(A)04/21/2023 270.00 Time Change System Problem - CHHUMERATECH000271849815(A)04/21/2023 2,940.36 2023 Annual Subscription IRTH SOLUTIONS INC000098409816(A)04/21/2023 260.87 Training Per DiemJONATHAN CASSMAN000271049817(A)04/21/2023 180.00 Mar 2023 PD Counseling ServicesLEAST SERVICES/COUNSELING LLC000276139818(A)04/21/2023 66.92 472 Sweeper switch MACQUEEN EQUIPMENT INC000130549819(A)04/21/2023 196.96 524 Rear axle gear MTI DISTRIBUTING INC000139519820(A)04/21/2023 68.06 3280 Toro belt 265.02 1,043.82 Paper SuppliesNETWORK SERVICES COMPANY000143819821(A)04/21/2023 784.05 Airfare, MileageNICHOLAS MONSERUD000273909822(A)04/21/2023 1,999.50 Mar 2023 Labor & EmploymentNILAN JOHNSON LEWIS000081239823(A)04/21/2023 205.00 PartsNOVAK COMPANIES000149009824(A)04/21/2023 149.26 506 Snow blower cutting edges 354.26 175.51 Mar 2023 Repair PartsO'REILLY AUTO PARTS000150889825(A)04/21/2023 615.00 Laserfiche Agenda Submisssion UpdateOPG-3 INC000271759826(A)04/21/2023 5.94 535 Tie-Down RingRIGID HITCH INC000184759827(A)04/21/2023 2,165.30 Roof Repairs - WTFSCHWICKERT'S TECTA AMERICA LLC000279119828(A)04/21/2023 277.20 E. Coli TestingUC LABORATORY000212359829(A)04/21/2023 455.08 Water Locates - Adelmann St & IndustriaWATER CONSERVATION SVCS INC000232009830(A)04/21/2023 219.48 AsphaltWM MUELLER & SONS INC000236459831(A)04/21/2023 381.30 Asphalt 381.30 Asphalt 289.23 Asphalt 1,271.31 2,480.75 Misc. Stormwater SupportWSB & ASSOCIATES INC000237809832(A)04/21/2023 65.00 Pest Control - FS #2XTREME PEST SOLUTIONS INC000271169833(A)04/21/2023 84.38 789 Power mirror switch ZIEGLER INC000265009834(A)04/21/2023 39,145.86 Caterpiller Standby Generator - FS1 39,230.24 1,182.71 Mar 2023 Admin FeesDELTA DENTAL000272139835(E)04/21/2023 1,690.23 Apr 2023 Phone BillsNUVERA000193049836(E)04/21/2023 1 TOTALS: 679,519.19 Total of 149 Disbursements: 0.00 Less 0 Void Checks: 679,519.19 Total of 149 Checks: ITEM: 5D CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Jason Etter, Senior Accountant PRESENTED BY: Cathy Erickson, Finance Director AGENDA ITEM: Approval of the Preliminary 1st Quarter 2023 Financial Reports RECOMMENDED ACTION: st Approve the 1 Quarter Financial Report as submitted. BACKGROUND: Staff has prepared preliminary summary financial reports (attached) as of March 31, 2023, for the following funds: • General Fund • Debt Service Funds • Cable Fund • Capital Park Fund • Revolving Equipment Fund • Facilities Management Fund • Permanent Improvement Revolving Fund • Water Fund • Sewer Fund • Water Quality Fund • Economic Development Authority Special Revenue Fund The reports reflect revenue and expenditure activity during first quarter 2023. The reports are preliminary, unaudited and may change. The attached memorandum provides a summary of the significant issues. As requested by the City Council, comparative information has been included for the same period of the prior year. ALTERNATIVES: st 1. Motion and second as part of the consent agenda to approve the 1 Quarter Financial Reports as submitted. 2. Motion and second to remove the Financial Report from the consent agenda for additional discussion. ATTACHMENTS: 1. 1st Q 2023 Memorandum - Attachment 1 2. 1st Q 2023 Financial Report - Attachment 2 City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 City of Prior Lake General Fund Summary - Comparison to Prior Year As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive (Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 12,161,475 12,161,475 - (12,161,475) 0% (29) 29 Licenses and Permits 894,370 894,370 100,892 (793,478) 11% 198,959 (98,067) Intergovernmental 2,833,610 2,833,610 902,296 (1,931,314) 32% 796,306 105,990 Charges for Services 2,041,444 2,041,444 445,278 (1,596,166) 22% 184,083 261,195 Fines and Forfeitures - - 557 557 n/a 200 357 Interest (losses) on investments 104,500 104,500 110,471 5,971 106% (231,992) 342,463 Other 188,000 188,000 23,755 (164,245) 13% 22,276 1,479 Transfers in 555,000 555,000 138,750 (416,250) 25% 402,567 (263,817) Total Revenues 18,778,399 18,778,399 1,721,999 (17,056,400) 9% 1,372,370 349,629 Expenditures General Government 3,706,429 3,801,987 755,813 3,046,174 20% 696,027 (59,786) Public Safety 9,454,620 9,501,418 1,658,917 7,842,501 17% 1,595,974 (62,943) Public Works 2,491,244 2,609,592 514,869 2,094,723 20% 458,159 (56,710) Culture and Recreation 2,524,218 2,567,813 372,306 2,195,507 14% 382,690 10,384 Transfer to other funds 633,888 633,888 - 633,888 0% - - Total Expenditures 18,810,399 19,114,698 3,301,905 15,812,793 17% 3,132,850 (169,055) Net Change (32,000) (336,299) (1,579,906) (1,243,607) (1,760,480) COMPARATIVE City of Prior Lake General Fund Revenues As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Taxes 101 31010.00 Current Property Taxes - General Purpos 11,073,754 11,073,754 - (11,073,754) 0% (29) 29 101 31040.00 Fiscal Disparities 1,087,721 1,087,721 - (1,087,721) 0% - - Taxes 12,161,475 12,161,475 - (12,161,475) 0% (29) 29 Licenses and Permits 101 32100.00 Business Licenses 1,050 1,050 1,050 - 100% 1,050 - 101 32110.00 Liquor Licenses 73,790 73,790 2,014 (71,776) 3% 150 1,864 101 32160.00 Refuse Haulers 4,500 4,500 - (4,500) 0% - - 101 32175.00 Public Private Gathering Permit 600 600 90 (510) 15% 90 - 101 32180.00 Cigarette Licenses 1,785 1,785 2,295 510 129% 2,040 255 101 32190.00 Community Event Application 1,750 1,750 1,980 230 113% 1,905 75 101 32210.00 Building Permits 636,900 636,900 72,893 (564,007) 11% 161,431 (88,538) 101 32211.00 Retainage Forfeiture - - - - n/a (3,000) 3,000 101 32215.00 Mechanical Permits 92,400 92,400 9,786 (82,614) 11% 13,409 (3,623) 101 32230.00 Plumbing Permits 66,435 66,435 8,976 (57,459) 14% 14,408 (5,432) 101 32231.00 Sewer/Water Inspection 8,475 8,475 763 (7,712) 9% 6,076 (5,313) 101 32232.00 Plumbing Registrations 1,250 1,250 - (1,250) 0% - - 101 32260.00 Burning Permits 4,000 4,000 840 3,000 21% 1,400 (560) 101 32270.00 Short-term Rental Fee 1,435 1,435 205 (1,230) 14% - 205 Licenses and Permits 894,370 894,370 100,892 (793,478) 11% 198,959 (98,067) Intergovernmental 101 33416.01 State Aid - Police Train 30,000 30,000 - (30,000) 0% - - 101 33416.02 State Police Aid-Ins Prem 267,000 267,000 - (267,000) 0% - - 101 33417.00 State Aid - Fire Training 20,000 20,000 - (20,000) 0% - - 101 33418.00 State Road & Bridge Aid 463,000 463,000 227,206 (235,794) 49% 272,134 (44,928) 101 33420.00 State Fire Aid-Ins. Prem. 260,000 260,000 - (260,000) 0% - - 101 33422.11 State Aids/Grants - Operating Police 3,500 3,500 - (3,500) 0% - - 101 33620.00 Township Fire & Resc Aid 722,760 722,760 375,090 (347,670) 52% 274,172 100,918 101 33621.00 Liaison Aid 67,350 67,350 - (67,350) 0% - - 101 33631.00 Payment in Lieu of Taxes 1,000,000 1,000,000 300,000 (700,000) 30% 250,000 50,000 Intergovernmental 2,833,610 2,833,610 902,296 (1,931,314) 32% 796,306 105,990 COMPARATIVE City of Prior Lake General Fund Revenues As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE Charges for Services 101 31810.00 Franchise Taxes 599,000 599,000 - (599,000) 0% - - 101 34103.00 Zoning & Subdivision Fees 34,100 34,100 2,955 (31,145) 9% 4,050 (1,095) 101 34104.00 Plan Check Fees 413,942 413,942 37,780 (376,162) 9% 94,806 (57,026) 101 34105.00 Sale of Maps/Publications - Reports 500 500 20 (480) 4% 14 6 101 34107.00 Assessment Searches - Reports 600 600 100 (500) 17% 50 50 101 34109.00 Project Admin/Eng Fees 280,000 280,000 65,011 (214,989) 23% 54,458 10,553 101 34203.00 Accident/Warrant Reports - Reports 200 200 317 117 159% 184 133 101 34731.00 Adult League Fees 4,800 4,800 8,165 3,365 170% 5,111 3,054 101 34735.00 Recreation Program Fees 60,000 60,000 70,076 10,076 117% 53,280 16,796 101 34735.01 Recreation Program Fees Regular 9,000 9,000 1,216 (7,784) 14% 1,847 (631) 101 34760.01 Facility Rental - Regular 59,675 59,675 18,377 (41,298) 31% 9,334 9,043 101 34761.00 Studio/Pavilion Rental 24,000 24,000 22,370 (1,630) 93% 16,661 5,709 101 34762.00 Park Shelter Rental 79,200 79,200 66,669 (12,531) 84% 69,646 (2,977) 101 34765.01 Tower Leases 252,775 252,775 127,986 (124,789) 51% (148,444) 276,430 101 34780.00 Park Admission Fees 35,000 35,000 - (35,000) 0% - - 101 34783.00 City Contract Services 188,652 188,652 24,236 (164,416) 13% 23,086 1,150 Charges for Services 2,041,444 2,041,444 445,278 (1,596,166) 22% 184,083 261,195 Fines and Forfeitures 101 35101.00 County Court Fines - - - - n/a 200 (200) 101 35104.00 Prosecution Restitution - - 557 557 n/a - 557 Fines and Forfeitures - - 557 557 n/a 200 357 Interest (losses) on investments 101 36210.00 Interest Earnings 124,500 124,500 72,756 (51,744) 58% 38,658 34,098 101 36215.00 Amortization - Premium/Discount (20,000) (20,000) (6,155) 13,845 31% (28,470) 22,315 101 36225.00 Unrealized Inv.Gain(Loss) - - 43,870 43,870 n/a (242,180) 286,050 Interest (losses) on investments 104,500 104,500 110,471 5,971 106% (231,992) 342,463 Other Miscellaneous Revenues 101 36101.00 City Assess. Collection - - - - n/a 492 (492) 101 36102.00 County Assess. Collection 4,000 4,000 - (4,000) 0% - - 101 36211.00 Developer Agreements 130,000 130,000 - (130,000) 0% - - 101 36212.00 Miscellaneous Revenue 54,000 54,000 20,789 (33,211) 38% 15,771 5,018 101 36230.00 Contributions & Donations - - 2,443 2,443 n/a 4,703 (2,260) 101 39102.00 Sale of Property - - 523 523 n/a 1,310 (787) Other Miscellaneous Revenues 188,000 188,000 23,755 (164,245) 13% 22,276 1,479 Other financing sources 101 39335.87 Lease Proceeds - - - - n/a 266,067 (266,067) 101 39203.00 Transfer from Other Funds 555,000 555,000 138,750 (416,250) 25% 136,500 2,250 Other financing sources 555,000 555,000 138,750 (416,250) 25% 402,567 (263,817) Total Revenues 18,778,399 18,778,399 1,721,999 (17,056,400) 9% 1,372,370 349,629 City of Prior Lake General Fund Expenditures As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Function: General Government 41110.00 MAYOR & COUNCIL 81,421 81,421 17,719 63,702 22% 15,850 (1,869) 41130.00 ORDINANCE 6,000 6,000 718 5,282 12% 882 164 41320.00 ADMINISTRATION 366,822 366,822 100,544 266,278 27% 93,099 (7,445) 41330.00 BOARDS & COMMISSIONS 15,471 15,471 1,184 14,287 8% 538 (646) 41400.00 CITY CLERK 128,217 128,217 25,161 103,056 20% 27,527 2,366 41410.00 ELECTIONS 43,240 43,240 457 42,783 1% 77 (380) 41520.00 FINANCE 688,150 709,700 118,901 590,799 17% 99,760 (19,141) 41540.00 INTERNAL AUDITING 43,700 43,700 4,500 39,200 10% 4,990 490 41550.00 ASSESSING 239,135 239,135 - 239,135 0% - - 41610.00 LEGAL 210,000 210,000 40,335 169,665 19% 26,133 (14,202) 41820.00 HUMAN RESOURCES 346,102 381,223 69,436 311,787 18% 62,364 (7,072) 41830.00 COMMUNICATIONS 170,008 170,008 32,875 137,133 19% 35,934 3,059 41910.00 COMMUNITY DEVELOPMENT 369,784 369,784 63,918 305,866 17% 45,460 (18,458) 41920.00 INFORMATION TECHNOLOGY 447,224 477,111 140,646 336,465 29% 128,564 (12,082) 41940.00 FACILITIES - CITY HALL 551,155 560,155 139,419 420,736 25% 154,849 15,430 Total - Function General Government 3,706,429 3,801,987 755,813 3,046,174 20% 696,027 (59,786) Function: Public Safety 42100.00 POLICE 6,548,159 6,582,064 1,247,956 5,334,108 19% 1,258,852 10,896 42200.00 FIRE 1,972,848 1,980,883 242,262 1,738,621 12% 182,009 (60,253) 42400.00 BUILDING INSPECTION 885,893 885,751 162,967 722,784 18% 150,075 (12,892) 42500.00 EMERGENCY MANAGEMENT 18,920 23,920 932 22,988 4% 238 (694) 42700.00 ANIMAL CONTROL 28,800 28,800 4,800 24,000 17% 4,800 - Total - Function Public Safety 9,454,620 9,501,418 1,658,917 7,842,501 17% 1,595,974 (62,943) Function: Public Works 43050.00 ENGINEERING 447,188 447,171 74,675 372,496 17% 91,168 16,493 43100.00 STREET 1,490,433 1,608,798 319,741 1,289,057 20% 254,746 (64,995) 43400.00 CENTRAL GARAGE 553,623 553,623 120,079 433,544 22% 111,944 (8,135) 43600.00 DEVELOPMENT PROJECTS - - 374 (374) n/a 301 (73) Total - Function Public Works 2,491,244 2,609,592 514,869 2,094,723 20% 458,159 (56,710) Function: Culture and Recreation 45100.00 RECREATION 545,771 545,771 79,418 466,353 15% 79,450 32 45200.00 PARKS 1,893,220 1,936,815 275,675 1,661,140 14% 283,546 7,871 45500.00 LIBRARIES 85,227 85,227 17,213 68,014 20% 19,694 2,481 Total - Function Culture and Recreation 2,524,218 2,567,813 372,306 2,195,507 14% 382,690 10,384 00000.00 Transfer to Other Funds 633,888 633,888 - 633,888 0% - - Total Expenditures 18,810,399 19,114,698 3,301,905 15,812,793 17% 3,132,850 (169,055) COMPARATIVE City of Prior Lake Expenditures- Personal Services Category Only (Payroll/Taxes/Benefits) As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) GENERAL FUND Function: General Government 41110.00 MAYOR & COUNCIL 74,621 74,621 15,766 58,855 21% 14,352 (1,414) 41320.00 ADMINISTRATION 295,857 295,857 58,466 237,391 20% 50,425 (8,041) 41330.00 BOARDS & COMMISSIONS 15,071 15,071 1,184 13,887 8% 538 (646) 41400.00 CITY CLERK FUNCTIONS 122,467 122,467 23,792 98,675 19% 27,527 3,735 41410.00 ELECTIONS - - - - n/a 77 77 41520.00 FINANCE 659,335 659,335 108,007 551,328 16% 94,945 (13,062) 41820.00 HUMAN RESOURCES 299,852 299,852 59,533 240,319 20% 56,419 (3,114) 41830.00 COMMUNICATIONS 134,228 134,228 25,849 108,379 19% 13,346 (12,503) 41910.00 COMMUNITY DEVELOPMENT 322,084 322,084 63,019 259,065 20% 44,716 (18,303) 41920.00 INFORMATION TECHNOLOGY 247,744 247,744 47,220 200,524 19% 46,284 (936) 41940.00 FACILITIES - CITY HALL 91,849 91,849 21,289 70,560 23% 18,855 (2,434) Total - Function General Government 2,263,108 2,263,108 424,125 1,838,983 19% 367,484 (56,641) Function: Public Safety 42100.00 POLICE 5,716,961 5,716,961 1,069,893 4,647,068 19% 1,043,833 (26,060) 42200.00 FIRE 1,557,399 1,557,399 118,233 1,439,166 8% 110,345 (7,888) 42400.00 BUILDING INSPECTION 847,991 847,991 157,964 690,027 19% 145,311 (12,653) Total - Function Public Safety 8,122,351 8,122,351 1,346,090 6,776,261 17% 1,299,489 (46,601) Function: Public Works 43050.00 ENGINEERING 370,818 370,818 70,853 299,965 19% 65,010 (5,843) 43100.00 STREET 483,276 483,276 117,968 365,308 24% 97,804 (20,164) 43400.00 CENTRAL GARAGE 276,848 276,848 57,618 219,230 21% 50,428 (7,190) Total - Function Public Works 1,130,942 1,130,942 246,439 884,503 22% 213,242 (33,197) Function: Culture and Recreation 45100.00 RECREATION 381,021 381,021 47,477 333,544 12% 52,927 5,450 45200.00 PARKS 1,184,708 1,184,708 216,441 968,267 18% 206,330 (10,111) Total - Function Culture and Recreation 1,565,729 1,565,729 263,918 1,301,811 17% 259,257 (4,661) General Fund Payroll Only Expenditures Total 13,082,130 13,082,130 2,280,572 10,801,558 17% 2,139,472 (141,100) EDA FUND Function: Economic Development 46500.00 ECONOMIC DEVELOPMENT 148,115 148,115 28,843 119,272 19% 24,837 (4,006) EDA Fund Payroll Only Expenditures Total 148,115 148,115 28,843 119,272 19% 24,837 (4,006) COMPARATIVE City of Prior Lake Expenditures- Personal Services Category Only (Payroll/Taxes/Benefits) As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE WATER FUND Function: Water 41520.00 Finance 85,574 85,574 16,536 69,038 19% 15,875 (661) 49400.00 Water 990,379 990,379 169,919 820,460 17% 169,212 (707) Water Fund Payroll Only Expenditures Total 1,075,953 1,075,953 186,455 889,498 17% 185,087 (1,368) SEWER FUND Function: Sewer 41520.00 Finance 85,574 85,574 16,533 69,041 19% 15,872 (661) 49450.00 Sewer 649,388 649,388 176,587 472,801 27% 151,408 (25,179) Sewer Fund Payroll Only Expenditures Total 734,962 734,962 193,120 541,842 26% 167,280 (25,840) STORM WATER FUND Function: Storm Water 49420.00 Water Quality 366,805 366,805 70,164 296,641 19% 72,801 2,637 Storm Water Fund Payroll Only Expenditures Total 366,805 366,805 70,164 296,641 19% 72,801 2,637 City-Wide Total Payroll Expenditures 15,407,965 15,407,965 2,759,154 12,648,811 18% 2,589,477 (169,677) City of Prior Lake Debt Service Funds As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Property Taxes Current Property Taxes 3,357,481 3,357,481 - (3,357,481) 0% - - Special Assessments City Assess. Collections - - 3,202 3,202 n/a 3,547 (345) County Assess. Collection 476,798 476,798 - (476,798) 0% - - Interest (losses) on investments Interest Earnings 30,700 30,700 16,743 (13,957) 55% 9,541 7,202 Unrealized Inv.Gain(Loss) - - 10,343 10,343 n/a (62,680) 73,023 Other Financing Sources Transfer from Other Funds 1,094,701 1,094,701 - (1,094,701) 0% - - Total Revenues 4,959,680 4,959,680 30,288 (4,929,392) 1% (49,592) 79,880 Expenditures Debt Service Principal 4,261,693 4,261,693 - 4,261,693 0% - - Interest and Other 1,016,813 1,016,813 4,500 1,012,313 0% 750 (3,750) Transfers to Other Funds 25,000 25,000 - 25,000 0% - - Total Expenditures 5,303,506 5,303,506 4,500 5,299,006 0% 750 (3,750) Net Change (343,826) (343,826) 25,788 (50,342) COMPARATIVE City of Prior Lake Cable Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Charges for Services 210-41340.00-34304.00 PEG Access Fees 22,000 22,000 - (22,000) 0% - - Interest (losses) on investments 210-41340.00-36210.00 Interest Earnings - - 632 632 n/a 439 193 210-41340.00-36225.00 Unrealized Inv. Gain (Loss) - - 391 391 n/a (2,880) 3,271 Total Revenues 22,000 22,000 1,023 (20,977) 5% (2,441) 3,464 Expenditures Current Expenditures 210-41340.00-52400.20 Small Equipment - Technology 4,000 4,000 - 4,000 0% - - 210-41340.00-54020.00 Software Service Contract 7,000 7,000 3,576 3,424 51% - (3,576) Total Expenditures 11,000 11,000 3,576 7,424 33% - (3,576) Net Change 11,000 11,000 (2,553) (2,441) COMPARATIVE City of Prior Lake Capital Park Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Charges for Services 225-45200.00-34760.01 Facility Rental - Regular 24,000 24,000 6,000 (18,000) 25% (15,900) 21,900 225-45200.00-34791.00 Dedication Fees 562,500 562,500 90,540 (471,960) 16% - 90,540 Charges for Services 586,500 586,500 96,540 (489,960) 16% (15,900) 112,440 Intergovernmental 225-45200.00-33700.20 Miscellaneous - Capital Grants 250,000 250,000 - (250,000) 0% - - Intergovernmental 250,000 250,000 - (250,000) 0% - - Interest (losses) on investments 225-00000.00-36210.00 Interest Earnings 20,400 20,400 12,180 (8,220) 60% 6,129 6,051 225-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 7,531 7,531 n/a (40,027) 47,558 Interest (losses) on investments 20,400 20,400 19,711 (689) 97% (33,898) 53,609 Contributions and donations 225-00000.00-36230.00 Contributions & Donations - - - - n/a 11,675 (11,675) Contributions and donations - - - - n/a 11,675 (11,675) Debt Issued 225-00000.00-39335.87 Lease Proceeds - - - - n/a 21,716 (21,716) Debt Issued - - - - n/a 21,716 (21,716) Total Revenues 856,900 856,900 116,251 (740,649) 14% (16,407) 132,658 Expenditures 53100.80 Professional Services-General 3,400 3,400 4,872 (1,472) 143% 3,402 (1,470) 55020.00 Projects - Engineering - - - - n/a 1,468 1,468 55050.00 Projects - Professional Services - - 992 (992) n/a 55530.00 Infrastructure 650,000 650,000 4,642 645,358 1% - (4,642) Total Expenditures 653,400 653,400 10,506 642,894 2% 4,870 (4,644) Net Change 203,500 203,500 105,745 (21,277) COMPARATIVE City of Prior Lake Revolving Equipment Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 410-00000.00-31010.00 Current Property Taxes 750,000 750,000 - (750,000) 0% - - Taxes 750,000 750,000 - (750,000) 0% - - Interest (losses) on investments 410-00000.00-36210.00 Interest Earnings 10,000 10,000 6,142 (3,858) 61% 3,291 2,851 410-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 3,655 3,655 n/a (21,895) 25,550 Interest (losses) on investments 10,000 10,000 9,797 (203) 98% (18,604) 28,401 Sale of assets 410-00000.00-39102.00 Sale of Property - - - - n/a 27,000 (27,000) Sale of assets - - - - n/a 27,000 (27,000) Transfers in 410-00000.00-39203.00 Transfer from Other Funds 217,500 217,500 54,375 (163,125) 25% 54,375 - Transfers in 217,500 217,500 54,375 (163,125) 25% 54,375 - Total Revenues 977,500 977,500 64,172 (913,328) 7% 62,771 1,401 COMPARATIVE City of Prior Lake Revolving Equipment Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE Expenditures General Government Public Safety Police 410-42100.00-55550.00 Vehicles 267,500 267,500 175,499 92,001 66% 8,770 (166,729) 410-42100.00-55570.00 Machinery & Equipment 46,600 46,600 - 46,600 0% - - Fire 410-42200.00-55550.00 Vehicles 246,000 344,738 20,373 324,365 6% 3,265 (17,108) 410-42200.00-55570.00 Machinery & Equipment 53,000 98,300 - 98,300 0% - - Building Inspection 410-42400.00-55550.00 Vehicles 38,000 38,000 - - 0% - - Total Public Safety 651,100 795,138 195,872 561,266 25% 12,035 (183,837) Public Works Street 410-43100.00-55550.00 Vehicles 57,000 57,000 - 57,000 0% - - 410-43100.00-55570.00 Machinery & Equipment 40,000 40,000 17,721 22,279 44% - (17,721) Central Garage 410-43400.00-55550.00 Vehicles 20,000 20,000 - 20,000 0% - - Total Public Works 117,000 117,000 17,721 99,279 15% - (17,721) Culture and Recreation/Parks 410-45200.00-55550.00 Vehicles 146,500 416,500 797 415,703 0% - (797) 410-45200.00-55570.00 Machinery and Equipment 458,000 458,000 235,759 222,241 51% 69,144 (166,615) Total Culture & Recreation 604,500 874,500 236,556 637,944 27% 69,144 (167,412) Sewer 410-49450.00-55570.00 Machinery and Equipment - - 1,375 (1,375) n/a - (1,375) Total Utility - - 1,375 (1,375) n/a - (1,375) Total Expenditures 1,372,600 1,786,638 451,524 1,297,114 25% 81,179 (370,345) Net Change (395,100) (809,138) (387,352) (18,408) City of Prior Lake Revolving Park Equipment Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 430-00000.00-31010.00 Current Property Taxes 440,000 440,000 - (440,000) 0% - - Taxes 440,000 440,000 - (440,000) 0% - - Intergovernmental 430-45200.00-33700.20 Miscellaneous Grants - Capital Grants 299,000 299,000 - (299,000) 0% - - Intergovernmental 299,000 299,000 - (299,000) - - - Interest (losses) on investments 430-00000.00-36210.00 Interest Earnings 13,700 13,700 10,146 (3,554) 74% 4,202 5,944 430-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 6,218 6,218 n/a (27,586) 33,804 Interest (losses) on investments 13,700 13,700 16,364 2,664 119% (23,384) 39,748 Transfers in 410-00000.00-39203.00 Transfer from Other Funds - - - - n/a 49,358 (49,358) Transfers in - - - - n/a 49,358 (49,358) Total Revenues 752,700 752,700 16,364 (736,336) 2% 25,974 (9,610) Expenditures Culture and Recreation Dept 45200.00 - PARKS 430-45200.00-55020.00 Projects - Engineering - - 42,750 (42,750) n/a 1,107 (41,643) 430-45200.00-55050.00-PRK22-000001 Projects - Professional Services - - - - n/a 10,299 10,299 430-45200.00-55530.00 Infrastructure 1,155,000 1,155,000 - 1,155,000 0% - - Total Culture & Recreation 1,155,000 1,155,000 42,750 1,112,250 4% 11,406 (31,344) Total Expenditures 1,155,000 1,155,000 42,750 1,112,250 4% 11,406 (31,344) Net Change (402,300) (402,300) (26,386) 14,568 COMPARATIVE City of Prior Lake Facilities Management Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 440-00000.00-31010.00 Current Property Taxes 155,000 155,000 - (155,000) 0% - - Taxes 155,000 155,000 - (155,000) 0% - - Intergovernmental 440-42200.00-33620.00 Township Fire & Resc Aid - - - - n/a 67,500 (67,500) - - - - n/a 67,500 (67,500) Interest (losses) on investments 440-00000.00-36210.00 Interest Earnings 14,600 14,600 9,874 (4,726) 68% 4,996 4,878 440-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 6,147 6,147 n/a (32,805) 38,952 Interest (losses) on investments 14,600 14,600 16,021 1,421 110% (27,809) 43,830 Transfers in 440-00000.00-39203.00 Transfer from Other Funds - - - - n/a 6,150 (6,150) Transfers in - - - - n/a 6,150 (6,150) Total Revenues 169,600 169,600 16,021 (153,579) 9% 45,841 (29,820) Expenditures Function: General Government 41940-55050.00 Projects Professional Svcs- FACILITIES - CITY HALL - - 11,648 (11,648) n/a 11,309 (339) 41940-55520.00 Building & Building Improvements-FACILITIES - CITY HAL 70,000 70,000 - 70,000 0% - - Total - Function General Government 70,000 70,000 11,648 58,352 17% 11,309 (339) Function: Public Safety 42100-55520.00 Building & Building Improvements-POLICE 233,000 233,000 - 233,000 0% - - 42200-55050.00 Projects-Professional Services-FIRE - - - - n/a 16,821 16,821 42200-55520.00 Building & Building Improvements-FIRE 185,500 185,500 20,244 165,256 11% - (20,244) Total - Function Public Safety 418,500 418,500 20,244 398,256 5% 16,821 (3,423) Function: Culture and Recreation 45100.00 RECREATION - 86,000 - 86,000 0% - - 45500.00 LIBRARIES 125,000 125,000 - 125,000 0% - - Total - Function Culture and Recreation 125,000 211,000 - 211,000 0% - - Total Expenditures 613,500 699,500 31,892 667,608 5% 28,130 (3,762) Net Change (443,900) (529,900) (15,871) 17,711 COMPARATIVE City of Prior Lake Permanent Improvement Revolving Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 450-00000.00-31810.00 Franchise Taxes 1,068,000 1,068,000 - (1,068,000) 0% - - Taxes 1,068,000 1,068,000 - (1,068,000) 0% - - Special Assessments 450-00000.00-36101.00 City Assess. Collections 110,535 110,535 253 (110,282) 0% 698 (445) 110,535 110,535 253 (110,282) 0% 698 (445) Interest (losses) on investments 450-00000.00-36210.00 Interest Earnings 5,700 5,700 8,518 2,818 149% 1,239 7,279 450-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 5,266 5,266 n/a (8,138) 13,404 Interest (losses) on investments 5,700 5,700 13,784 8,084 242% (6,899) 20,683 Total Revenues 1,184,235 1,184,235 14,037 (1,170,198) 1% (6,201) 20,238 Expenditures OTHER FINANCING USES Transfers out 450-80000.00-59203.00 Transfers to Other Funds 203,100 203,100 - 203,100 0% - - Total Expenditures 203,100 203,100 - 203,100 0% - - Net Change 981,135 981,135 14,037 (6,201) COMPARATIVE City of Prior Lake Water Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Operating Revenue Water Charges 601-49400.00-37100.00 Utility Receipts - Water 3,971,228 3,971,228 111,468 (3,859,760) 3% 131,082 (19,614) 601-49400.00-37160.00 Penalties 20,000 20,000 1,136 (18,864) 6% 969 167 3,991,228 3,991,228 112,604 (3,878,624) 3% 132,051 (19,447) Utility Base Fee 601-49400.00-37110.00 Utility Base Fee Revenue 1,312,991 1,312,991 71,483 (1,241,508) 5% 69,777 1,706 1,312,991 1,312,991 71,483 (1,241,508) 5% 69,777 1,706 Meter Sales 601-49400.00-37170.00 Water Meter Sales 79,825 79,825 10,034 (69,791) 13% 23,815 (13,781) 601-49400.00-37175.00 Pressure Reducers 25,000 25,000 2,673 (22,327) 11% 5,634 (2,961) 104,825 104,825 12,707 (92,118) 12% 29,449 (16,742) Total Operating Revenue 5,409,044 5,409,044 196,794 (5,212,250) 4% 231,277 (34,483) Non-Operating Revenue Intergovernmental 601-00000.00-33422.15 State Aids/Grants - Operating Public Wor - - - - n/a 142 (142) - - - - n/a 142 (142) Interest (losses) on investments 601-00000.00-36210.00 Interest Earnings 72,900 72,900 48,073 (24,827) 66% 22,155 25,918 601-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 27,674 27,674 n/a (145,629) 173,303 72,900 72,900 75,747 2,847 104% (123,474) 199,221 Miscellaneous Revenues 601-00000.00-36212.00 Miscellaneous Revenue - - 10 10 n/a 130 (120) 601-49400.00-37190.00 Miscellaneous Revenue Adj - - - - n/a (3) 3 - - 10 10 - 127 (117) Total Non-Operating Revenue 72,900 72,900 75,757 2,857 104% (123,205) 198,962 Total Revenues 5,481,944 5,481,944 272,551 (5,209,393) 5% 108,072 164,479 COMPARATIVE City of Prior Lake Water Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE Total Expenditures Personnel and current expenditures (excluding depreciation) 41520.00 Finance 121,121 121,121 20,868 100,253 17% 28,249 7,381 49400.00 Water 2,834,696 2,840,793 493,596 2,347,197 17% 448,995 (44,601) 2,955,817 2,961,914 514,464 2,447,450 17% 477,244 (37,220) Principal 49400.00 Water 130,000 130,000 - 130,000 0% - - 130,000 130,000 - 130,000 0% - - Interest & other 49400.00 Water 39,850 39,850 - 39,850 0% - - 39,850 39,850 - 39,850 0% - - Capital improvements 55530.00 Infrastructure 797,700 797,700 - 797,700 0% - - 55570.00 Machinery and equipment 135,500 209,312 - 209,312 0% - - 933,200 1,007,012 - 1,007,012 0% - - Total Expenditures 4,058,867 4,138,776 514,464 3,624,312 477,244 (37,220) 0.0% 0.0% Other Financing Uses 59203.00 Transfers to other funds 938,963 938,963 82,938 856,025 915,977 833,039 Total Other Financing Uses 938,963 938,963 82,938 856,025 915,977 833,039 Total Revenues/ Other Financing Sources 5,481,944 5,481,944 272,551 (5,209,393) 5% 108,072 164,479 Total Expenditures/Other Financing Uses 4,997,830 5,077,739 597,402 4,480,337 12% 1,393,221 795,819 Net Change 484,114 404,205 (324,851) (729,056) (1,285,149) (631,340) City of Prior Lake Sewer Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Sewer Charges 604-49450.00-37102.00 Utility Receipts - Sewer 2,287,093 2,287,093 (106,612) (2,393,705) -5% (107,888) 1,276 604-49450.00-37104.00 Utility Recpt-Sewer MCES 2,002,180 2,002,180 292,036 (1,710,144) 15% 297,471 (5,435) 604-49450.00-37160.00 Penalties 20,000 20,000 881 (19,119) 4% 1,129 (248) 4,309,273 4,309,273 186,305 (4,122,968) 4% 190,712 (4,407) Capital Facility charges 604-49450.00-37110.00 Utility Base Fee Revenue 1,131,684 1,131,684 62,063 (1,069,621) 5% 60,580 1,483 1,131,684 1,131,684 62,063 (1,069,621) 5% 60,580 1,483 Total Operating Revenue 5,440,957 5,440,957 248,368 (5,192,589) 5% 251,292 (2,924) Non-Operating Revenue Interest (losses) on investments 604-00000.00-36210.00 Interest Earnings 38,400 38,400 28,367 (10,033) 74% 12,482 15,885 604-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 14,987 14,987 n/a (81,768) 96,755 38,400 38,400 43,354 4,954 113% (69,286) 112,640 Miscellaneous Revenues 604-00000.00-36212.00 Miscellaneous Revenue - - - - n/a (2) 2 - - - - n/a (2) 2 Total Non-Operating Revenue 38,400 38,400 43,354 4,954 113% (69,288) 112,642 Total Revenue 5,479,357 5,479,357 291,722 (5,187,635) 5% 182,004 109,718 COMPARATIVE City of Prior Lake Sewer Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE Total Expenditures Personnel and current expenditures (excluding depreciation) 41520.00 Finance 120,598 120,598 20,864 99,734 17% 28,247 7,383 49450.00 Sewer 3,021,564 3,027,660 763,049 2,264,611 25% 674,287 (88,762) 3,142,162 3,148,258 783,913 2,364,345 25% 702,534 (81,379) Principal 49450.00 Sewer 130,000 130,000 - 130,000 0% - - 130,000 130,000 - 130,000 0% - - Interest & other 49450.00 Sewer 39,850 39,850 - 39,850 0% - - 39,850 39,850 - 39,850 0% - - Capital improvements 55530.00 Infrastructure 724,000 724,000 - 724,000 0% 621 621 55570.00 Machinery and equipment 247,000 320,813 - 320,813 0% - - 971,000 1,044,813 - 1,044,813 0% 621 621 Total Expenditures 4,283,012 4,362,921 783,913 3,579,008 703,155 (80,758) Other Financing Uses 59203.00 Transfers to other funds 330,750 330,750 82,687 248,063 25% 596,840 514,153 Total Other Financing Uses 330,750 330,750 82,687 248,063 25% 596,840 514,153 Total Revenues/ Other Financing Sources 5,479,357 5,479,357 291,722 (5,187,635) 5% 182,004 109,718 Total Expenditures/Other Financing Uses 4,613,762 4,693,671 866,600 3,827,071 18% 1,299,995 433,395 Net Change 865,595 785,686 (574,878) (1,360,564) (1,117,991) (323,677) City of Prior Lake Water Quality Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Storm Water Charges 602-49420.00-37120.00 Storm Water Revenue 1,356,333 1,356,333 76,062 (1,280,271) 6% 67,409 8,653 1,356,333 1,356,333 76,062 (1,280,271) 6% 67,409 8,653 Water Charges 602-49420.00-37160.00 Penalties 4,000 4,000 253 (3,747) 6% 261 (8) 4,000 4,000 253 (3,747) 6% 261 (8) Total Operating Revenue 1,360,333 1,360,333 76,315 (1,284,018) 6% 67,670 8,645 Non-Operating Revenue Interest (losses) on investments 602-00000.00-36210.00 Interest Earnings 25,100 25,100 15,675 (9,425) 62% 7,745 7,930 602-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 9,031 9,031 n/a (50,381) 59,412 25,100 25,100 24,706 (394) 98% (42,636) 67,342 Total Non-Operating Revenue 25,100 25,100 24,706 (394) 98% (42,636) 67,342 Total Revenues 1,385,433 1,385,433 101,021 (1,284,412) 7% 25,034 75,987 COMPARATIVE City of Prior Lake Water Quality Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) COMPARATIVE Total Expenditures Personnel and current expenditures (excluding depreciation) 49420.00 Water Quality 665,655 665,655 127,951 537,704 19% 103,316 (24,635) 665,655 665,655 127,951 537,704 19% 103,316 (24,635) Capital improvements 55530.00 Infrastructure 711,000 711,000 94,532 616,468 13% 169,601 75,069 711,000 711,000 94,532 616,468 13% 169,601 75,069 Total Expenditures 1,376,655 1,376,655 222,483 1,154,172 16% 272,917 50,434 Other Financing Uses 59203.00 Transfers to other funds 110,000 110,000 27,500 82,500 25% 33,359 5,859 Total Other Financing Uses 110,000 110,000 27,500 82,500 25% 33,359 5,859 Total Revenues/ Other Financing Sources 1,385,433 1,385,433 101,021 (1,284,412) 7% 25,034 75,987 Total Expenditures/Other Financing Uses 1,486,655 1,486,655 249,983 1,236,672 17% 306,276 56,293 Net Change (101,222) (101,222) (148,962) (47,740) (281,242) 132,280 City of Prior Lake Economic Development Authority Special Revenue Fund As of 3/31/2023 (Preliminary & Unaudited) Variance from Variance 2023 2023 2023 Amended Budget - % BDGT Actual from 2022 Budget Amended Actual Positive ( Negative) USED 3/31/2022 Positive (Negative) Revenues Taxes 240-00000.00-31010.00 Current Property Taxes 370,000 370,000 - (370,000) 0% - - Taxes 370,000 370,000 - (370,000) 0% - - Charges for Services 240-46500.00-34760.02 Facility Rental - EDA 24,588 24,588 8,196 (16,392) 33% 6,147 2,049 Charges for Services 24,588 24,588 8,196 (16,392) 33% 6,147 2,049 Interest (losses) on investments 240-00000.00-36210.00 Interest Earnings 2,600 2,600 1,972 (628) 76% 166 1,806 240-00000.00-36225.00 Unrealized Inv.Gain(Loss) - - 1,132 1,132 n/a (993) 2,125 Interest (losses) on investments 2,600 2,600 3,104 504 119% (827) (3,931) Total Revenues 397,188 397,188 11,300 (385,888) 3% 5,320 5,980 Expenditures Function: Economic Development 46500.00 ECONOMIC DEVELOPMENT 627,615 627,615 50,259 577,356 8% 37,671 (12,588) Total Expenditures 627,615 627,615 50,259 577,356 8% 37,671 (12,588) Net Change (230,427) (230,427) (38,959) (32,351) COMPARATIVE MEMORANDUM DATE: May 1, 2023 TO: Prior Lake City Council FROM: Cathy Erickson, Finance Director RE: Financial Report dated 03/31/2023 The financial reports presented as part of this agenda item reflect activity during the first quarter of 2023. The significant issues identified at this time are summarized below. General Fund Summary Key points for 2023:  Preliminary financial information reflects expenditures exceeding revenues by st $1,579,906; This is expected since the primary funding source 1 half property tax revenue will be received in June.  Intergovernmental revenues are higher than this same period in 2022 by $105,000 mainly due township fire and rescue is up $100k and the first quarter payment from the SMSC is $50k more than 2022.  Interest on investments is significantly higher than this same period in 2022 due to the decrease in unrealized losses. Unrealized losses in Q1 2022 were $242k compared to unrealized gains in Q1 2023 of $44k. This is a paper gain for Q1 2023; no actual gain is realized because the City holds the securities until maturity. Actual interest earned is higher compared to this period last year by $34k.  Expenditures are slightly higher than the same period in 2022 primarily due to an increase in personal services and supplies in the fire and streets departments. General Fund Revenues Property taxes are received in June, December, and January. Revenue from taxes is recognized on a cash basis for the General Fund. Therefore, tax revenue will not be reflected in the financial report until June. Building permits (single family and townhomes) were budgeted at 150 for 2023. Revenues associated with building permits and plan check fees are approximately $145k lower than in the st 1 quarter 2022. The following table provides a breakdown of the first quarter activity by year. Year Single Townhomes Commercial / Other Total Change Family Industrial Permits from PY 2023 14 0 0 315 329 -44% 2022 39 0 0 551 590 2% 2021 34 0 1 541 576 18% 2020 27 4 0 457 488 33% 2019 25 0 1 342 368 3% The first half payments were received for Municipal State Aid and the township fire agreements. SMSC Police Aid of $300k was received in the first quarter which equal to 30% of the $1,000,000 budget for this line item. First quarter franchise fees collected in April are not included in this report. Project engineering fees are currently at 23% of its annual budget. The 2023 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. st Recreation revenues (including Park admission fees and facility rental) are higher than the 1 quarter of 2022 primarily due to the increase in facility rentals and Recreation program fees. Interest earnings are 58% of its budget. The report also reflects a $286k increase in the fair value of the securities. This is a paper gain; no actual gain is realized because the City holds the securities until maturity. General Fund Expenditures/Transfers General Fund expenditures for 2023 represent 17% of the $19,114,698 amended budget. The level of expenditures (as a percent of budget) is consistent with 2022. Some key points related st to expenditures for the 1 quarter of 2023 are:  Fire operating expenditures have increased slightly, when compared to the same period last year, due to preparation of adding the full-time fire personnel this summer.  Streets snow and ice management has increased by almost $40k compared to this same time last year.  Engineering is favorable compared to this time last year due to less need of outside engineering consultants. At this point in the year, there are no other significant variances to report. 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. Scheduled bond payments (interest) will be made in June. Other bond payments (principal and interest) will be due mid-December. Cable Fund First quarter franchise fees collected in April have not been included in this report. Capital Park Fund Park Dedication Fees are more than compared to the same time in 2022 by $90k. Engineering and general professional service expenditures have remained steady compared to this period in 2022. Revolving Equipment Fund Property taxes, the primary funding source, are received in June, December, and January (final tax settlement). The approved squads for Police and sidewalk machines for Parks were purchased in the first quarter of 2023. Vehicle and equipment purchases were approved at council meetings earlier in ndrd the year, but most of the equipment will be purchased and received in the 2 and 3 quarters. Revolving Park Equipment Fund st Engineering expenditures of $42k have been incurred in the 1 Q 2023 as Ponds Park Phase I gets underway. Facilities Management Fund Page 2 The planned City Hall, Police, Fire, Club Prior and Library facility work will be completed in the ndrd 2 and 3 quarters. Permanent Improvement Revolving Fund There are no approved street overlay projects scheduled for 2023. Water Fund The financial report for the Water Fund reflects one billing cycle. Consumption decreased slightly from 2022, and operating revenues are down from the prior year by $34k. Water revenues are about 5% of the 2023 budget which is consistent with first quarter 2022. Operating expenditures and transfers for 2023 are lower than in the first quarter of 2022 due to st the transfer in the 1 Q of 2022 for the water utility portion of the Downtown South street project. Operating expenditures and transfers at 12% of the approved budget. Sewer Fund The financial report for the Sewer Fund reflects one billing cycle. Consumption decreased slightly from 2022 and operating revenues are down from the prior year by $3k. Overall sewer revenues are at 5% of the budget and slightly higher compared to the first quarter 2022. Operating expenditures and transfers for 2023 are lower than in the first quarter of 2022 due to st the transfer in the 1 Q of 2022 for the sewer utility portion of the Downtown South street project. Operating expenditures and transfers at 18% of the approved budget. Water Quality Fund The financial report for the Water Quality Fund reflects one billing cycle. Water Quality revenues are based on flat rates per billing cycle. Revenues are slightly higher than 2022 and are at 7% of the budget. Operational expenditures and transfers are lower compared to the first quarter 2022 at 17% of budget. Economic Development Authority Special Revenue Fund Property taxes are received in June, December, and January (final tax settlement). Facility rental payments have been received from Sebastian Automotive. Personnel, commissioner per diems, and professional services expenditures comprise most of the expenditures and are at 8% of budget as of the end of the first quarter. Page 3 ITEM: 5C CITY COUNCIL AGENDA REPORT MEETING DATE: May 01, 2023 PREPARED BY: Jason Etter, Senior Accountant PRESENTED BY: Cathy Erickson, Finance Director AGENDA ITEM: Approval of March 2023 Treasurer's Report RECOMMENDED ACTION: Adopt the March 2023 Treasurer’s Report as presented. BACKGROUND: The purpose of this agenda item is for the Council to consider the approval of the monthly Treasurer’s Report for March 2023. This information is being provided in a format which categorizes the balances by fund type. A second page is included to provide the Fund Balance Classification for each of the funds as well as the restrictions placed upon their usage. Even though the business-type funds December have an “unrestricted” fund balance and the General Fund December have an “unassigned” fund balance, it does not necessarily mean the balance is available to appropriate to other funds for other uses. There are constraints in place due to the type of fund or based on the City’s fund balance policy. FINANCIAL IMPACT: Staff has prepared a preliminary summary of the activity in the funds for the month of March 2023. The Treasurer’s Report reflects beginning cash balance, receipts, disbursements, and the ending cash balance for each fund. As shown on the March 2023 Treasurer’s Report, the balance of cash and investments is $48.2 million. Of this balance, $46.5 million is investments and $1.7 million is cash. The Report is preliminary, unaudited and will change. The attached memorandum provides a summary of the fund descriptions. ALTERNATIVES: 1. Motion and second as part of the consent agenda to approve the March 2023 Treasurer’s Report as presented. 2. Motion and second to remove the Treasurer’s Report from the consent agenda for additional discussion. ATTACHMENTS: 1. 2023 March Treasurer's Report (attach 1) 2. 2023 March Treasurer's Report (attach 2) 3. 2023 March Treasurer's Report (attach 3) City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 City of Prior Lake Treasurers Report March 2023 Fund 3/1/2023 3/31/2023 Fund Type & Name No. Balance Receipts Disbursements Balance Business-Type Funds Water Fund 601 7,136,257.56$ 90,041.48$ 358,394.29$ 6,867,904.75$ Sewer Fund 604 4,350,077.07 73,983.41 400,538.64 4,023,521.84 Water Quality Fund 602 2,326,118.42 22,102.37 110,415.57 2,237,805.22 Total Business-Type Funds 13,812,453.05$ 186,127.26$ 869,348.50$ 13,129,231.81$ Governmental-Type Funds General Fund 101 10,550,629.87$ 861,121.99$ 1,744,087.55$ 9,667,664.31$ Special Revenue Funds Cable Franchise Fund 210 91,035.51$ 160.99$ -$ 91,196.50$ Capital Park Fund 225 1,754,460.92 5,095.84 5,864.25 1,753,692.51 Police Forfeiture Fund 235 156,973.11 271.62 3,380.00 153,864.73 EDA Special Revenue 240 291,935.48 2,512.32 31,993.89 262,453.91 Econ Dev Federal Revolving Loan Fund 250 136,520.62 241.43 - 136,762.05 Developer Agreement Fund 260 1,185,876.87 - 41,219.85 1,144,657.02 Total Special Revenue Funds 3,616,802.51$ 8,282.20$ 82,457.99$ 3,542,626.72$ Capital Project Funds TIF #1-3 413 121,868.24$ 215.52$ -$ 122,083.76$ TIF #5-1 416 12,146.62 21.48 - 12,168.10 TIF #6-1 417 513,560.70 908.20 - 514,468.90 TIF #1-5 419 47,522.84 84.04 - 47,606.88 Revolving Equipment Fund 410 889,012.25 55,594.83 253,609.88 690,997.20 Revolving Park Equipment Fund 430 1,466,543.90 2,553.93 22,378.11 1,446,719.72 Facilities Management Fund 440 1,417,847.99 2,507.39 - 1,420,355.38 Permanent Impr Revolving Fund 450 1,227,330.73 2,170.35 - 1,229,501.08 Construction Fund 501 3,591,421.75 1,892,394.77 113,992.51 5,369,824.01 Trunk Reserve Fund 502 5,937,930.20 16,616.70 - 5,954,546.90 Street Oversize Fund 503 1,458,395.67 2,579.09 - 1,460,974.76 Total Capital Project Funds 16,683,580.89$ 1,975,646.30$ 389,980.50$ 18,269,246.69$ Debt Service Funds 314-351 & 549-573 $ 2,415,576.25 6,952.70$ 4,500.00$ 2,418,028.95$ Agency Fund 801 595,962.50$ 13,250.00$ -$ 609,212.50$ Total Governmental Type Funds 33,862,552.02$ 2,865,253.19$ 2,221,026.04$ 34,506,779.17$ Internal Service Funds 7xx 609,413.75$ 4,656.26$ -$ 614,070.01$ Total All Funds 48,284,418.82$ 3,056,036.71$ 3,090,374.54$ 48,250,080.99$ Investment Pool & Ratio as of 3/31/2023 96.40% 46,514,323.06$ This report does not reflect financial obligations from contracts, agreements, purchases, services received, etc. TREASURER’S REPORT FUND DESCRIPTIONS General Fund - Represents the resources to support general operating budget expenditures of the City. The year- end fund balance represents dollars that have accumulated over a period of time. The City Council has designated a minimum of 45% of the current operating budget, for working capital to finance city operations. Water Fund - For the collection of water billing utility revenue. This enterprise fund balance is allocated for the operational costs of the Water departments and normally reserved for large capital municipal system expenses. Sewer Fund - For the collection of sewer billing utility revenue. This enterprise fund balance is allocated for the operational costs of the Sewer department and normally reserved for large capital municipal system expenses. Water Quality Fund - An enterprise account funded by the storm water charge that is generated on the bi-monthly water and sewer utility bills. The funds in the account are dedicated to finance water quality improvements including departmental administration, storm water maintenance operations and improvement projects related to water quality. Cable Franchise Fund - Acts as a clearing house for funds received from the cable franchise company as specified by ordinance. Capital Park Fund - Dedicated funds received from developers in accordance with the City’s Park Dedication requirement when land is platted. Funds are collected for the purpose of developing the City’s neighborhood park and trail system. These dollars are programmed throughout the course of the City’s Capital Improvement Program. Police Forfeiture Fund – Special revenue fund created to track criminal and DWI forfeiture revenues and expenditures. ED Special Revenue – Reserved and expended at the direction of the Prior Lake Economic Development Authority for specific economic development activity as allowed by MN Statute. The purpose is to provide economic incentives for new business expansion within the community. ED Fed/MN Loan Funds - Accounts for the proceeds of economic development grants received either from the federal government or the State of Minnesota to provide seed money for a revolving loan account. This provides economic incentive for new business expansion within the community. DAG Special Revenue Fund - Special revenue fund related to costs the City incurs in connection with a subdivision. Fees are paid to the City by the developer when the Development Contract and Final Plat are approved by City Council. Revenues are used to pay for legal expenses incurred with review and approval of the plat and inspection services on developer installed-utilities for newly approved subdivisions within Prior Lake. Federal ARPA Fiscal Recovery Fund – Special revenue fund created to track American Rescue Plan Act funds received by the City. Water Revenue Bond Fund – PW Bldg - Debt service fund to pay bonds issued to construct the public works maintenance building. The capital facility charge generated on the utility bill provides the funding for the bond payments which occur semi-annually. Funds are transferred from Sewer and Water Fund. Water Revenue Bond Fund – WT Plant - Debt service fund to pay bonds issued to construct the water treatment plant. Revenue from the utility bills provides the funding for the bond payments which occur semi-annually. Funds are transferred from Sewer and Water Fund. Tax Increment Funds - Represents an accumulation of funds such as bond proceeds and project administration fees charged to companies requesting project write-downs in the form of tax increment financing for new and/or redevelopment. The TIF district property taxes are then deposited in a number of tax increment funds established to track their respective revenue. Revolving Equipment Fund - A regular replacement schedule for equipment needs of the City in excess of $5,000 has been adopted. Periodic fund transfers are appropriated to provide a funding source for the acquisition and purchase of new and replacement vehicles and equipment. Revolving Park Equipment Fund – Consists of funds reserved for the replacement of park equipment. Facilities Management Fund – Established in conjunction with the Facilities Management Plan (FMP). The FMP provides a schedule of major repairs, replacements and upgrades to all of the City facilities. Permanent Improvement Revolving Fund – Consists of funds available for annual street mill and overlay projects with any remaining funds to be used to provide upfront funding for future improvements. Construction Fund - Represent unexpended bond proceeds that are reserved to pay for improvement projects approved by the City Council on an annual basis. These dollars are necessary to complete outstanding construction contracts and related engineering and professional services. Street Oversize Fund - Consists of dedicated revenue generated by fees associated with new development and new construction building permits for the funding of pedestrian related improvements i.e., bikeways, sidewalks, trails plus right of way acquisition along collector streets and occasional collector street links. Trunk Reserve Fund - Consists of dedicated revenue generated from utility connection permits and acreage fees assessed at time of sewer and water installation for the recovering of trunk oversizing costs and central municipal system improvements i.e., wells lift stations, force mains, etc. These dollars are programmed throughout the course of the City’s capital improvement plan. Water Storage Fund - Accounts for the water tower fee that is charged and collected on building permits. This fund balance is 100% reserved for the construction of elevated and ground water storage facilities. Debt Service Funds - Represents prepayments of special assessments, property tax collections and special levies needed to pay the outstanding bonded indebtedness of the City. This fund balance is 100% reserved for the payment of bond principal and interest. Agency Fund - Accounts for the residential building permit deposit that is refunded to the building contractor upon final inspection. This provides financial assurance that the property site will be adequately cleaned up and debris free before an occupancy permit is granted. Severance Compensation Fund – Internal Service Fund established to partially fund the City’s compensated absence liability associated with the accrued vacation and sick leave for employees upon termination as recommended by the State Auditor’s Office. Insurance Fund – Internal Service Fund established to track revenues and expenditures related to insurance funds. City of Prior Lake Treasurers Report March 2023 Fund Type & Name Fund Balance Classification Constraints Business-Type Funds Water Fund Unrestricted Identified on utility bill for this purpose Sewer Fund Unrestricted Identified on utility bill for this purpose Water Quality Fund Unrestricted Identified on utility bill for this purpose Governmental-Type Funds General Fund Unassigned Cash flow, emergencies, one-time opportunities Special Revenue Funds Cable Franchise Fund Assigned for communications Statutory obligation to use for PEG access Capital Park Fund Assigned for capital improvements Contractually obligated; park dedication fees EDA Special Revenue Assigned for development Economic Development Econ Dev Federal Revolving Loan Fund Restricted for economic development Economic Development Econ Dev MN Revolving Loan Fund Restricted for economic development Economic Development Developer Agreement Fund Assigned for development Contractually obligated; Federal ARPA Recovery Funds Restricted for equipment and improvements Contractually obligated Capital Project Funds Tax Increment Restricted for tax increment Contractually obligated by tax increment agreements TIF #1-3 Restricted for tax increment Contractually obligated by tax increment agreements TIF #1-4 Restricted for tax increment Contractually obligated by tax increment agreements TIF #3-1 Restricted for tax increment Contractually obligated by tax increment agreements TIF #4-1 Restricted for tax increment Contractually obligated by tax increment agreements TIF #5-1 Restricted for tax increment Contractually obligated by tax increment agreements TIF #6-1 Restricted for tax increment Contractually obligated by tax increment agreements Revolving Equipment Fund Assigned for capital improvements Identified for equipment replacement Revolving Park Equipment Fund Assigned for capital improvements Identified for park equipment replacement Facilities Management Fund Assigned for capital improvements Identified for funding Facilities Management Plan Permanent Improvement Revolving Fund Assigned for capital improvements Identified for funding street improvement projects Construction Fund Restricted for capital improvements Construction projects in progress Trunk Reserve Fund Assigned for capital improvements Contractually obligated by developer agreements Street Oversize Fund Assigned for capital improvements Contractually obligated by developer agreements Water Storage Fund Assigned for capital improvements Contractually obligated by developer agreements Debt Service Funds Restricted for Debt Service Reserved for contractually obligated debt service Agency Fund N/A Escrows to be reimbursed to depositors Internal Service Funds Unrestricted Identified as payment for severance compensation and insurance ITEM: 5D CITY COUNCIL AGENDA REPORT MEETING DATE: May 01, 2023 PREPARED BY: Jason Etter, Senior Accountant PRESENTED BY: Cathy Erickson, Finance Director AGENDA ITEM: Approval of 1st Quarter 2023 Investment Report RECOMMENDED ACTION: Approve the 2023 1st Quarter Investment Report as presented. BACKGROUND: The purpose of this agenda item is for the Council to consider approval of the investment report for the first quarter of 2023. Staff has prepared a list of investments as of March 31, 2023. The Investment Report Summary Narrative provides some supplementary information with respect to the investments currently held and the allowable forms of investments permitted by Minnesota Statute. The investment software provides the ability to generate reports and charts by broker, security type, maturities, etc. The software also enables staff to track interest earned on an accrual basis versus a cash basis as well as changes in market value. ALTERNATIVES: 1. Motion and second as part of the consent agenda to approve the 2023 1st Quarter Investment Report as presented. 2. Motion and second to remove the Investment Report from the consent agenda for additional discussion. ATTACHMENTS: 1. 2023 1st Q Investment Portfolio by Maturity Range (attach 4) 2. 2023 1st Q Investment Portfolio by Security Type (attach 5) 3. 2023 1st Q Investment Portfolio by Security Type graph (attach 3) 4. 2023 1st Q Investment Summary Report (attach 1) 5. 2023 1st Q Year to Year Summary Analysis (attach 2) City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 YTM @ Cost Cost Value Days to Maturity % of Portfolio 0‐1 Month 4.281 12,954,977 1 27.82% 1‐3 Months 2.355 439,135 50 0.95% 3‐6 Months 1.335 2,821,599 120 6.06% 6‐9 Months 2.841 3,290,632 216 6.97% 9‐12 Months 0.614 461,380 288 0.96% 1‐2 Years 1.899 8,735,278 561 18.64% 2‐3 Years 1.305 5,561,092 931 11.60% 3‐4 Years 1.723 7,148,126 1,300 15.39% 4‐5 Years 3.544 5,224,642 1,346 11.61% Total / Average 2.670 46,636,861 630 100.00% CITY OF PRIOR LAKE, MINNESOTA Investment Portfolio ‐ Diversification, by Maturity Range March 31, 2023 Description City of Prior Lake ‐ Quarterly Investment Report Description CUSIP/Ticker Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of Portfolio Cash - Northland Securities Cash CASH5845 2/3/2002 0.000 5,123.67 5,123.67 5,123.67 5,123.67 N/A 1 0.01 Morgan Stanley Cash CASH5089 12/31/2010 0.000 32,956.02 32,956.02 32,956.02 32,956.02 N/A 1 0.07 Oppenheimer Cash MM9905 12/27/2011 0.000 979,269.65 979,269.65 979,269.65 979,269.65 N/A 1 2.10 Sub Total / Average Cash 0.000 1,017,349.34 1,017,349.34 1,017,349.34 1,017,349.34 1 0.00 2.18 1st Security Bk of Wash 4.05 6/16/2026 33625CFL8 12/16/2022 4.050 249,000.00 249,000.00 249,000.00 242,697.81 6/16/2026 1,173 414.43 0.53 Ally Bk Sandy UT 3.4 8/4/2025 02007GXF5 8/4/2022 3.400 245,000.00 245,000.00 245,000.00 236,750.85 8/4/2025 857 1,255.21 0.53 Alma Bank 1.8 9/11/2023 020080BM8 9/11/2019 1.800 245,000.00 245,000.00 245,000.00 241,511.20 9/11/2023 164 241.64 0.53 American Express Natl 3 5/4/2027 02589ACK6 4/30/2022 3.000 245,000.00 245,000.00 245,000.00 227,823.05 5/4/2027 1,495 2,960.14 0.53 Banc Calif Irvine 3.2 7/1/2024 05961SNS9 6/29/2022 3.200 245,000.00 245,000.00 245,000.00 239,485.05 7/1/2024 458 1,976.11 0.53 Bank Baroda New York 3.55 11/30/2023 06062R-7R-7 11/30/2018 3.550 245,000.00 245,000.00 245,000.00 242,505.90 11/30/2023 244 2,899.17 0.53 Bank Hapoalim 0.95 7/23/2026 06251A2Y5 7/23/2021 0.950 245,000.00 245,000.00 245,000.00 215,663.70 7/23/2026 1,210 427.24 0.53 Bank of Belleville 4 6/15/2027 06063PDD4 12/15/2022 4.000 249,000.00 249,000.00 249,000.00 240,471.75 6/15/2027 1,537 436.60 0.53 Bank of New England 3.25 7/31/2023 06426KAN8 7/31/2018 3.250 245,000.00 245,000.00 245,000.00 243,561.85 7/31/2023 122 0.00 0.53 Bankers Bank West Denver CO 1.8 9/30/2024 06610T-EE-1 9/30/2019 1.800 245,000.00 245,000.00 245,000.00 233,590.35 9/30/2024 549 12.08 0.53 BankUnited Savings Miami 0.95 3/31/2026 066519QT9 3/31/2021 0.950 245,000.00 245,000.00 245,000.00 218,059.80 3/31/2026 1,096 0.00 0.53 BMW Bk 4.75 3/17/2028 055180AW83 3/17/2023 4.750 245,000.00 245,000.00 245,000.00 243,936.70 3/17/2028 1,813 446.37 0.53 Bridgewater Bk 4.8 3/29/2028 108622NK3 3/29/2023 4.800 245,000.00 245,000.00 245,000.00 244,495.30 3/29/2028 1,825 64.44 0.53 CalPrivate Bk La Jolla 4 9/23/2027-23 13135NAS9 9/28/2022 4.400 249,000.00 244,545.39 244,995.50 240,237.69 9/23/2027 1,637 221.33 0.53 Capital One Bk USA Natl 1.8 3/17/2025 14042TEM5 3/16/2022 1.800 245,000.00 245,000.00 245,000.00 230,638.10 3/17/2025 717 181.23 0.53 Capital One Nat'l Assn McLean 2.1 8/14/2024 14042RMW8 8/14/2019 2.100 247,000.00 247,000.00 247,000.00 237,411.46 8/14/2024 502 639.49 0.53 Celtic Bank 1.8 8/30/2023 15118RRF6 8/30/2019 1.800 245,000.00 245,000.00 245,000.00 241,746.40 8/30/2023 152 0.00 0.53 CF Bank 3.15 9/18/2023 15721UCQ0 9/18/2018 3.150 245,000.00 245,000.00 245,000.00 242,883.20 9/18/2023 171 274.87 0.53 Charles Schwab Bank 4.7 11/21/2023 159877UAC2 11/21/2022 4.700 238,000.00 238,000.00 238,000.00 237,264.58 11/21/2023 235 3,984.05 0.51 City Natl Bk Los Ang 4.9 11/24/2025 178180GS8 11/23/2022 4.900 245,000.00 245,000.00 245,000.00 244,879.95 11/24/2025 969 4,209.97 0.53 Discover Bank 1.9 5/11/2023 254672YR3 9/17/2019 2.001 245,000.00 244,135.15 244,973.38 244,152.30 5/11/2023 41 1,785.48 0.53 Enerbank USA 0.55 9/25/2025 29278TRL6 9/25/2020 0.550 245,000.00 245,000.00 245,000.00 219,963.45 9/25/2025 909 22.15 0.53 Enterprise Bank & Trust 1.8 11/8/2024 29367SJQ8 11/8/2019 1.800 245,000.00 245,000.00 245,000.00 232,882.30 11/8/2024 588 277.89 0.53 Enterprise Bank Allison Park PA 1.8 9/27/2024 29367R-LA-2 9/27/2019 1.800 245,000.00 245,000.00 245,000.00 233,698.15 9/27/2024 546 48.33 0.53 Fifth Third Bk2.95 6/30/2023 316777XV8 6/30/2022 2.950 242,000.00 242,000.00 242,000.00 242,000.00 6/30/2023 91 5,359.14 0.52 First Commercial Bank MS 0.3 3/31/2025 31984GFK0 3/7/2022 1.700 225,000.00 215,588.25 218,857.15 205,116.75 3/31/2025 731 1.85 0.48 First Finl Bk3.3 8/2/2027 32022RSG3 8/1/2022 3.300 245,000.00 245,000.00 245,000.00 229,770.80 8/2/2027 1,585 664.52 0.53 First Natl Bank of Albany 1.6 2/28/2025 32117WAN2 2/28/2020 1.600 245,000.00 245,000.00 245,000.00 230,003.55 2/28/2025 700 32.22 0.53 First Utd Bk4.4 8/8/2025 33742CCR6 2/8/2023 4.400 245,000.00 245,000.00 245,000.00 242,106.55 8/8/2025 861 679.29 0.53 Flagstar Bank FSB 0.2 6/30/2023 33847E4Q7 6/30/2021 0.200 245,000.00 245,000.00 245,000.00 242,045.30 6/30/2023 91 122.16 0.53 Goldman Sachs Bk 1 7/28/2026 38149MXK4 7/28/2021 1.000 245,000.00 245,000.00 245,000.00 215,418.70 7/28/2026 1,215 416.16 0.53 Harden County 3.1 9/28/2023 412022CJ2 9/28/2018 3.100 245,000.00 245,000.00 245,000.00 242,697.00 9/28/2023 181 62.42 0.53 Iowa State Clarksville 3.15 9/28/2023 46256YAY5 9/28/2018 3.150 245,000.00 245,000.00 245,000.00 242,741.10 9/28/2023 181 63.43 0.53 Israel Discount Bk 0.75 7/14/2023 465076TA5 1/28/2022 0.750 249,000.00 249,000.00 249,000.00 245,932.32 7/14/2023 105 317.22 0.53 Legacy Bk & Tr Co 3.5 7/29/2027-22 52470QBK9 8/1/2022 3.500 245,000.00 245,000.00 245,000.00 231,703.85 7/29/2027 1,581 46.99 0.53 Live Oak Bkg Co 3.55 8/2/2027-23 538036WY6 8/2/2022 3.550 249,000.00 249,000.00 249,000.00 235,952.40 8/2/2027 1,585 702.32 0.53 Luana Savings Bank 0.2 5/7/2024 549104XH5 11/22/2021 0.699 240,000.00 237,081.60 238,688.83 227,560.80 5/7/2024 403 189.37 0.52 Manufacturers 4.9 12/9/2024 564759RJ9 12/7/2022 4.900 245,000.00 245,000.00 245,000.00 244,593.30 12/9/2024 619 3,749.51 0.53 Morgan Stanley Bank Step 11/28/2027 61765QP52 9/2/2021 1.004 249,000.00 249,000.00 249,000.00 209,341.77 11/28/2027 1,703 211.48 0.53 MS Private Bank 3.55 11/8/2023 61760ARS0 11/8/2018 3.550 245,000.00 245,000.00 245,000.00 242,677.40 11/8/2023 222 3,407.51 0.53 National Cooperative Bank3.4 12/21/2023 635573AL2 12/24/2018 3.400 245,000.00 245,000.00 245,000.00 241,974.25 12/21/2023 265 2,282.19 0.53 New York Community Bank 0.2 7/3/2023 649447VA4 6/30/2021 0.200 245,000.00 245,000.00 245,000.00 241,966.90 7/3/2023 94 122.16 0.53 Oceanfirst Bk Natl 3.25 7/1/2024 67523TBE2 6/29/2022 3.250 245,000.00 245,000.00 245,000.00 239,632.05 7/1/2024 458 2,006.99 0.53 Ponce De Leon Fed Bk 3.5 9/15/2027 732329BD8 9/15/2022 3.500 245,000.00 245,000.00 245,000.00 231,436.80 9/15/2027 1,629 375.89 0.53 Preferred Bank LA Calif 1.95 8/30/2024 740367HR1 8/30/2019 1.950 249,000.00 249,000.00 249,000.00 238,492.20 8/30/2024 518 0.00 0.53 Sallie Mae Bank Utah 1.9 9/18/2024 7954504D4 9/18/2019 1.900 245,000.00 245,000.00 245,000.00 234,210.20 9/18/2024 537 165.79 0.53 Savibank 4.05 1/19/2027 80517LAC5 1/18/2023 4.050 249,000.00 249,000.00 249,000.00 241,554.90 1/19/2027 1,390 359.17 0.53 Signature Bk New York 4.7 12/9/2024 82669GFM1 12/9/2022 4.700 240,000.00 240,000.00 240,000.00 238,831.20 12/9/2024 619 3,461.26 0.52 Spring Bank3.25 10/24/2023 849430AY9 10/24/2018 3.250 245,000.00 245,000.00 245,000.00 242,523.05 10/24/2023 207 152.71 0.53 State Bk India New York 0.65 12/29/2023 856285A92 12/29/2021 0.650 245,000.00 245,000.00 245,000.00 236,988.50 12/29/2023 273 401.40 0.53 Synchrony Bank 0.9 8/6/2026 87165GD58 8/6/2021 0.900 248,000.00 248,000.00 248,000.00 218,624.40 8/6/2026 1,224 324.10 0.53 Texas Exchange Bk 0.45 8/21/2024 88241TJE1 8/21/2020 0.450 245,000.00 245,000.00 245,000.00 229,895.75 8/21/2024 509 30.21 0.53 Third Fed Sav & Ln 3.3 8/19/2027 88413QDN5 8/19/2022 3.300 245,000.00 245,000.00 245,000.00 229,765.90 8/19/2027 1,602 886.03 0.53 Toyota Finl Svgs Bk 0.95 7/15/2026 89235MLC3 7/15/2021 0.950 245,000.00 245,000.00 245,000.00 215,847.45 7/15/2026 1,202 478.25 0.53 Transportation Alliance Bk 4.8 9/9/2024 89388CGG7 12/9/2022 4.800 240,000.00 240,000.00 240,000.00 239,205.60 9/9/2024 528 694.36 0.52 Uinta Bk Mtn 4.4 3/22/2028 903572FT7 3/22/2023 4.400 245,000.00 245,000.00 245,000.00 240,156.35 3/22/2028 1,818 265.81 0.53 Veritex Cmnty Bk 0.2 9/15/2023 923450CP3 9/15/2021 0.200 245,000.00 245,000.00 245,000.00 239,651.65 9/15/2023 168 21.48 0.53 Washington Federal 1.95 8/28/2024 938828BN9 8/28/2019 1.950 245,000.00 245,000.00 245,000.00 234,697.75 8/28/2024 516 39.27 0.53 Webbank 0.4 10/30/2023-22 947547NL5 11/8/2021 0.449 245,000.00 244,755.00 244,927.62 238,434.00 10/30/2023 213 5.37 0.53 Wells Fargo BK NA Sioux Falls 2.75 5/17/2024 949763-B6-2 6/11/2019 2.650 200,000.00 200,924.00 200,211.77 194,872.00 5/17/2024 413 210.96 0.43 Wex Bk Midvale 0.25 6/30/2023 92937CKM9 6/30/2021 0.250 232,000.00 232,000.00 232,000.00 229,229.92 6/30/2023 91 144.60 0.50 Winter Hill Bank 3.5 8/26/2027-23 975875BH7 8/26/2022 3.500 245,000.00 245,000.00 245,000.00 231,600.95 8/26/2027 1,609 117.47 0.53 Sub Total / Average Certificate Of Deposit 2.558 15,124,000.00 15,107,029.39 15,112,654.25 14,535,564.25 757 51,349.28 32.48 FFCB 0.69 7/22/2025-21 3133ELX33 4/15/2021 0.750 600,000.00 598,488.00 599,181.44 551,922.00 7/22/2025 844 793.50 1.29 FFCB 0.72 10/27/2026-21 3133EMES7 6/18/2021 1.000 500,000.00 492,715.00 495,138.37 444,815.00 10/27/2026 1,306 1,540.00 1.07 FFCB 0.74 11/24/2026-21 3133EMHC9 4/14/2021 1.053 450,000.00 442,350.00 445,021.90 398,722.50 11/24/2026 1,334 1,174.75 0.97 FFCB 2.62 11/17/2025 3133EHJR5 9/24/2021 0.810 500,000.00 536,830.00 523,386.44 481,320.00 11/17/2025 962 4,876.11 1.07 Sub Total / Average FFCB Bond 0.892 2,050,000.00 2,070,383.00 2,062,728.15 1,876,779.50 1,093 8,384.36 4.40 City of Prior Lake Portfolio Holdings Investment Portfolio - by Security Type As of 3/31/2023 Cash Certificate Of Deposit FFCB Bond Description CUSIP/Ticker Settlement Date YTM @ Cost Face Amount/Shares Cost Value Book Value Market Value Maturity Date Days To Maturity Accrued Interest % of Portfolio City of Prior Lake Portfolio Holdings Investment Portfolio - by Security Type As of 3/31/2023 FHLB 1 12/30/2026-21 3130ANY87 10/20/2021 1.205 500,000.00 494,850.00 496,280.71 446,815.00 12/30/2026 1,370 1,250.00 1.07 FHLB 1.25 11/10/2026-22 3130APLR4 11/10/2021 1.250 450,000.00 450,000.00 450,000.00 406,611.00 11/10/2026 1,320 2,203.12 0.97 FHLB Step 12/15/2025-21 3130AKJ72 4/13/2021 0.894 500,000.00 497,500.00 498,550.09 459,685.00 12/15/2025 990 662.50 1.07 FHLN 5159508 1.25 10/16/2026-21 3130ALW83 4/16/2021 1.250 216,666.67 216,666.67 216,666.67 196,573.00 10/16/2026 1,295 1,241.32 0.47 FHLN 5214149 Step 7/22/2026-21 3130AN4W7 7/22/2021 1.057 1,000,000.00 1,000,000.00 1,000,000.00 916,330.00 7/22/2026 1,209 2,300.00 2.15 Sub Total / Average FHLB Bond 1.103 2,666,666.67 2,659,016.67 2,661,497.47 2,426,014.00 1,224 7,656.94 5.73 FHLMC 0.5 12/9/2024 3134GWA71 9/9/2020 0.500 200,000.00 200,000.00 200,000.00 187,174.00 12/9/2024 619 311.11 0.43 Sub Total / Average FHLMC Bond 0.500 200,000.00 200,000.00 200,000.00 187,174.00 619 311.11 0.43 League of Minnesota Cities - 4M Fund LGIP LGIP5101M 11/30/2010 4.683 7,897,588.00 7,897,588.00 7,897,588.00 7,897,588.00 N/A 1 16.96 League of Minnesota Cities - 4M Plus Fund LGIP LGIP5101MP 11/30/2010 4.686 3,785,040.12 3,785,040.12 3,785,040.12 3,785,040.12 N/A 1 8.13 Sub Total / Average Local Government Investment Pool 4.684 11,682,628.12 11,682,628.12 11,682,628.12 11,682,628.12 1 0.00 25.09 Allen Park MI Public Sch Dist 2 11/2/2024 018033HR4 7/30/2020 0.751 290,000.00 305,140.90 295,663.24 278,275.30 11/2/2024 582 2,416.67 0.62 Cabot-Las Positas 1.287 8/1/2027 15722TJS1 4/28/2022 3.500 550,000.00 491,991.50 502,167.90 477,884.00 8/1/2027 1,584 1,179.75 1.18 Canadian Cnty Okla Indpt Sch Dist 2 11/1/2024 135537-GT-9 11/7/2019 2.000 285,000.00 285,000.00 285,000.00 273,634.20 11/1/2024 581 2,375.00 0.61 Cecil Cnty MD 1.05 11/1/2026 1498433N2 9/23/2021 0.970 500,000.00 501,985.00 501,395.35 446,550.00 11/1/2026 1,311 2,187.50 1.07 Central Cmnty Sch 2 3/1/2026 153135FJ2 3/4/2021 0.700 300,000.00 319,098.00 311,167.56 280,527.00 3/1/2026 1,066 500.00 0.64 Edgewood Ohio City 5 12/1/2023 280455ET9 12/19/2019 2.101 215,000.00 238,512.40 218,992.06 215,088.15 12/1/2023 245 3,583.33 0.46 El Paso TX ISD 0 8/15/2024 283770NS0 10/30/2020 0.700 500,000.00 486,925.00 495,251.46 469,430.00 8/15/2024 503 0.00 1.07 Enfield Conn Taxable 1.39 8/1/2027 292749UK2 4/6/2022 3.000 335,000.00 308,658.95 313,525.88 296,334.30 8/1/2027 1,584 776.08 0.72 Falmouth ME Taxable 3 10/15/2025 306783NF4 10/15/2021 0.800 340,000.00 369,386.20 358,685.68 329,079.20 10/15/2025 929 4,703.33 0.73 Federal Way Wash2.2 12/1/2024 314031-HH-1 12/11/2019 2.150 475,000.00 476,111.50 475,373.76 456,731.50 12/1/2024 611 3,483.33 1.02 Goose Creek Tex 4.5 2/15/2027 382604Z25 11/3/2022 4.700 500,000.00 496,125.00 496,491.45 503,680.00 2/15/2027 1,417 2,875.00 1.07 Hawaii St GO Ref 2.802 10/1/2027-26 419792KL9 7/28/2022 3.350 100,000.00 97,413.00 97,749.54 94,357.00 10/1/2027 1,645 1,401.00 0.21 Hawaii St Taxable 1.033 8/1/2025 419792F92 10/12/2021 0.950 300,000.00 300,924.00 300,568.10 277,770.00 8/1/2025 854 516.50 0.64 Indiana Bond Bank 3.326 7/15/2025 45462TER9 3/26/2021 0.900 240,000.00 264,516.00 253,053.37 233,390.40 7/15/2025 837 1,685.17 0.52 Iowa Westn Comm2.8 6/1/2023 462612SE3 2/12/2018 2.800 195,000.00 195,000.00 195,000.00 194,346.75 6/1/2023 62 1,820.00 0.42 Liberty Center Ohio 0 11/1/2025 530336DV5 8/18/2020 1.051 215,000.00 203,589.95 209,321.98 191,651.00 11/1/2025 946 0.00 0.46 Mankato Minn ISD 0.7 2/1/2025 563690RP3 10/22/2020 0.700 300,000.00 300,000.00 300,000.00 279,396.00 2/1/2025 673 350.00 0.64 Massachusetts St 0.986 11/1/2026 57582RK96 6/30/2021 1.000 500,000.00 499,635.00 499,754.61 448,735.00 11/1/2026 1,311 2,054.17 1.07 Massachusetts St Dev 2.785 5/1/2024 57584FEM8 12/20/2019 1.920 240,000.00 248,647.20 242,153.66 234,823.20 5/1/2024 397 2,785.00 0.52 Milwaukee Cnty Wis 2 12/1/2026 6022453V2 11/23/2021 1.300 500,000.00 516,960.00 512,400.96 459,620.00 12/1/2026 1,341 3,333.33 1.07 Monmouth OR Bds 2.9 4/1/2023 609694FZ2 1/30/2018 2.900 255,000.00 255,000.00 255,000.00 255,000.00 4/1/2023 1 3,697.50 0.55 Northwest Local Sch District Hamilton & Butler 667712CF8 11/15/2019 2.069 360,000.00 376,408.80 362,721.84 356,238.00 12/1/2023 245 3,900.00 0.77 Northwest Local Sch District Hamilton & Butler 667712CG6 11/15/2019 2.169 370,000.00 389,010.60 376,302.48 361,726.80 12/1/2024 611 4,008.33 0.79 Oak Creek WIS 4 10/1/2023 671137-YP-6 11/27/2018 3.402 280,000.00 287,434.00 280,773.24 278,821.20 10/1/2023 184 5,600.00 0.60 Oklahoma Cnty Okla Metro 2.65 6/1/2024 67869T-AD-7 7/15/2019 2.286 500,000.00 508,255.00 501,981.57 490,800.00 6/1/2024 428 4,416.67 1.07 Oregon Edu Dists 0.312 6/30/2023 68587FAT1 12/17/2021 0.550 385,000.00 383,598.60 384,772.27 380,942.10 6/30/2023 91 300.30 0.83 Orono ME Taxable 5 11/1/2025 687085DR8 10/29/2020 1.000 330,000.00 394,287.30 363,250.84 333,841.20 11/1/2025 946 6,875.00 0.71 Pelican Rapids Minn 0.8 2/1/2025 705863HR2 12/17/2020 0.700 525,000.00 527,126.25 525,949.55 490,917.00 2/1/2025 673 700.00 1.13 Pennsylvania St Univ 1.645 9/1/2025 709235S48 12/6/2021 1.120 250,000.00 254,787.50 253,103.98 234,440.00 9/1/2025 885 342.71 0.54 Rhode IS Infrastructure Bk 2.18 10/1/2023 7622FDD7 6/27/2019 2.151 435,000.00 435,522.00 435,061.69 429,614.70 10/1/2023 184 4,741.50 0.93 Richfield Minn ISD 3 2/1/2024 763342SZ6 9/4/2020 0.570 200,000.00 216,380.00 204,039.08 196,946.00 2/1/2024 307 1,000.00 0.43 Roanoke VA Taxable 2 2/1/2025 770078BD4 5/14/2020 1.250 300,000.00 310,266.00 304,007.55 286,641.00 2/1/2025 673 1,000.00 0.64 Springboro Ohio 5 12/1/2027 85023MAF2 7/12/2022 4.002 245,000.00 256,755.10 255,190.14 251,705.65 12/1/2027 1,706 4,083.33 0.53 St Louis Park Minn 4.5 2/1/2027 791740V34 9/7/2022 3.345 190,000.00 198,863.50 197,733.51 191,480.10 2/1/2027 1,403 4,845.00 0.41 Toledo Ohio City Sch 5 12/1/2027 889294RT3 9/28/2022 4.520 100,000.00 102,186.00 101,973.18 102,227.00 12/1/2027 1,706 1,666.67 0.21 Trussville AL 0.822 10/1/2025 898242ND0 8/25/2020 0.710 300,000.00 301,677.00 300,823.65 273,270.00 10/1/2025 915 1,233.00 0.64 Waukesha Wis 1.2 10/1/2027 943080UZ2 9/1/2022 3.660 375,000.00 332,557.50 337,382.59 327,281.25 10/1/2027 1,645 2,250.00 0.81 Wauwatosa WI 3 12/1/2024-22 9435042U3 10/28/2021 2.014 200,000.00 205,880.00 203,179.36 195,100.00 12/1/2024 611 2,000.00 0.43 Wicomico Cnty MD 2 12/1/2026 967546BA9 5/13/2022 3.450 380,000.00 356,975.80 361,433.88 352,472.80 12/1/2026 1,341 2,533.33 0.82 Wisconsin St Gen Fund 2.877 5/1/2024 977100EA0 12/2/2021 0.700 160,000.00 168,321.60 163,749.92 156,700.80 5/1/2024 397 1,918.00 0.34 Sub Total / Average Municipal Bond 1.902 13,020,000.00 13,166,912.15 13,032,146.88 12,387,468.60 851 95,136.50 27.96 T-Note 0.375 11/30/2025 91282CAZ4 9/24/2021 0.780 300,000.00 295,008.00 296,814.66 273,444.00 11/30/2025 975 373.97 0.64 T-Note 0.625 11/30/2027 91282CAY7 5/5/2022 3.040 500,000.00 438,535.00 448,502.30 435,215.00 11/30/2027 1,705 1,038.80 1.07 Sub Total / Average Treasury Note 2.193 800,000.00 733,543.00 745,316.96 708,659.00 1,431 1,412.77 1.72 Total / Average 2.680 46,560,644.13 46,636,861.67 46,514,321.17 44,821,636.81 630 164,250.96 100 Local Government Investment Pool Municipal Bond Treasury Note FHLB Bond FHLMC Bond YTM @ Cost Cost Value Days to Maturity % of Portfolio Cash ‐ 1,017,349 1 2.18% Certificate of Deposit 2.558 15,107,029 757 32.48% FFCB Bond 0.892 2,070,383 1,093 4.40% FHLB Bond 1.103 2,659,017 1,224 5.73% FHLMC Bond 0.500 200,000 619 0.43% LGIP 4.684 11,682,628 1 25.09% Municipal Bond 1.902 13,166,912 851 27.96% Treasury Note 2.193 733,543 1,431 1.73% Total / Average 2.67 46,636,861 630 100.00% CITY OF PRIOR LAKE, MINNESOTA Investment Portfolio ‐ Diversification, by Security Type March 31, 2023 Description City of Prior Lake ‐ Quarterly Investment Report 4646 Dakota Street SE Prior Lake, MN 55372 INVESTMENT REPORT SUMMARY NARRATIVE The attached “Investment Portfolio – by Security Type” identifies the various types of investments and the brokers/banks the City of Prior Lake uses for investment purposes. As of March 31, 2023, the balance of the investment portfolio is $46,636,861. This is a decrease of $875K from December 31, 2022. The ‘weighted average yield to maturity at cost’ of the investment portfolio is currently 2.67% which is an increase from 2.43% as of December 31. The yield will fluctuate due in part to the balances that are in the short-term money market accounts and the very low rate that is paid on money market funds. At the end of March, the balance in the 4M money market was $11.7M. It continues to be challenging to find competitive rates for short-term investments---30 to 120-day ma- turities. These short-term securities are necessary to meet cash flow needs for payments to vendors (including construction contracts) and payroll. The following table shows the treasury rates for the 1st quarter of 2023 compared to the previous two years: As rates increase, the market value of the existing securities will decrease. As of March 31, 2023, the cost value of the portfolio is more than the market value of the investments by $1.8M. The change in the fair value of the securities is adjusted against interest earnings in each of the funds. This is a paper loss for the first quarter of 2023; no actual gain/loss is realized because the City holds the securities until maturity. During the first quarter of 2023, the chart below shows how rates are showing an increase, especially short to mid-term securities. Current long-term rates being offered by financial institutions continue to increase slightly. As the attached chart titled Investment Portfolio – Diversification, by Maturity Range indicates, approx- imately 28% or $12.9M matures within 1 month. Of that total, $11.7M is in the 4M investment pool. These funds are being held in the 4M investment pool. These funds will be invested as the appropri- ate security (type, rate, and maturity) becomes available. Staff continues to look for opportunities to invest our short-term funds. The City’s investment portfolio amount is a pool of funds identified on the monthly Treasurer’s Report. As shown on the March Treasurer’s Report, the balance of cash and investments, is $48.2M. Of this balance, $46.5M is investments and $1.7M is cash. Because City funds are pooled for investment purposes, interest is allocated to each fund monthly, and is based upon each individual fund’s propor- tionate share of the total amount. Overall, the total investment pool does not represent excess re- serves but rather available financial resources. In most instances, these funds were established and restricted for specific and designated purposes by either Minnesota Statutes or City Code to accom- plish the goals and objectives of the City. The constraints for each of the funds are noted on the Treasurer’s Report. Investments for local governments are restricted to only those permitted by Minnesota Statutes. Per the City of Prior Lake Investment Policy, the City has chosen to limit its allowable investments as fol- lows: 1. Bonds, notes certificates of indebtedness, treasury bills or other securities now or hereafter issued by the United States of America, its agencies and al- lowable instrumentalities; 2. Interest bearing checking and savings accounts, or any other investments constituting direct obligations of any bank; 2 3. Certificates of deposit at state and federally chartered institutions that are lim- ited to the amount of coverage provided by the Federal Deposit Insurance Corporation; 4. Money market accounts that are invested in above referenced government se- curities; 5. State and local securities which have at the time of investment one of the three highest credit ratings by a nationally recognized rating agency; 6. Investments may be made only in those savings banks or savings and loan associations the shares, or investment certificates of which are insured by the Federal Deposit Insurance Corporation; 7. Investment products that are considered as derivatives are specifically ex- cluded from approved investments. The breakdown of all security types held by the City is shown graphically in the attached document titled Investment Portfolio – Diversification, by Security Type. The investment policy also requires that all investment maturities shall not extend beyond ten (10) years with no more than 20% maturing beyond five (5) years. 3 Change from one 3/31/2022 6/30/2022 9/30/2022 12/31/2022 3/31/2023 year prior Market Value 11,451,561 13,722,257 13,941,365 14,313,568 12,699,977 1,248,416 111110 0.07% 0.90% 2.05% 3.47% 4.31%4.24% Fixed Income Assets 31,360,176 32,321,683 33,273,875 33,197,884 33,936,884 2,576,708 30,387,293 30,910,391 31,173,111 31,188,237 32,121,659 1,734,366 887 897 938 917 865 (22) 822 838 831 849 826 4 1.57% 1.68% 1.85% 1.98% 2.06%0.49% Total Portfolio Value 42,811,737 46,043,940 47,215,240 47,511,452 46,636,861 3,825,124 41,838,854 44,632,648 45,114,476 45,501,805 44,821,636 2,982,782 137,024 105,209 145,337 112,064 164,251 27,227 ‐972,783 ‐1,411,292 ‐2,100,764 ‐2,009,647 ‐1,815,225 (842,442) 648 629 661 640 630 (18) 601 587 586 593 601 0 1.17% 1.45% 1.91% 2.43% 2.67% 1.50% BENCHMARK 90 Day T‐Bill 0.52% 1.72% 3.33% 4.42% 4.85% 4.33% 1.06% 2.51% 3.92%4.69% 4.97% 3.91% 1.63% 2.80% 4.05%4.76% 4.94% 3.31% Weighted Average Yield to Maturity @ Cost CITY OF PRIOR LAKE, MINNESOTA Quarterly Investment Report March 31, 2023 Local Government Investment Pools / Money Market Quarterly WAM (1) in Days Weighted Average Yield to Maturity Cost Value Market Value WAM (1) in Days WAM / Callable (1) in Days Weighted Average Yield to Maturity @ Cost 6 Month Treasury 1 Year Treasury Cost Value Market Value Accrued Interest Unrealized Gain / Loss WAM (1) in Days WAM / Callable (1) in Days City of Prior Lake ‐ Quarterly Investment Report ITEM: 5E CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Christine Watson, Public Works Coordinator PRESENTED BY: Andy Brotzler, Public Works Director / City Engineer AGENDA ITEM: Resolution Authorizing the Receipt of Quote and Award Contract for Well 5 Rehabilitation Project RECOMMENDED ACTION: Adopt a resolution receiving the quote and awarding the contract for the Well 5 rehabilitation project. BACKGROUND: The city operates seven production wells to provide potable water to the community. Each year, the above-ground components are visually inspected. More thorough inspections are completed every 6-8 years. These inspections include pulling the pump from the well, opening the pump and testing the electrical components, televising the drop pipe and well bowl, and identifying necessary repairs. These repairs can range from routine pump maintenance, to well casing replacement, to full rehabilitation. Earlier this year, staff solicited quotes from Traut Companies and Bergerson Caswell to perform the initial inspection and televising of Well 5, which was built in 1988 and last rehabilitated in 2016. Bergerson Caswell was selected for the inspection and televising phase of the project. Based on their evaluation, they have provided a quote for recommended maintenance in the amount of $26,105. The scope of work includes: • Replacing 7 pieces of drop pipe • Replacing 14 line shaft bearings • Replacing head shaft • Rebuilding of the discharge head • Rebuilding of pump bowl assembly • Reconditioning motor and replacing oil • Epoxy coating on pipe • Shop labor Bergerson Caswell has been the contractor on previous well rehabilitation projects for the city and is familiar with the critical components of our water delivery system. Staff is recommending the execution of the city standard contract with Bergerson Caswell in the amount of $26,105 to complete the recommended maintenance on Well 5. FINANCIAL IMPACT: Money is budgeted every year for this type of annual well maintenance. The 2023 Water CIP includes $52,500 for this project (601-49400.00-55530.00 Infrastructure). City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 Item 5E Page | 2 ALTERNATIVES: 1. Motion and second to adopt a resolution receiving the quote and awarding the contract for the Well 5 rehabilitation project. ATTACHMENTS: 1. Resolution - Receive quote and award contract for Well 5 rehabilitation project 2. 20230413 Quote from Bergerson-Caswell 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 23-XXX A RESOLUTION RECEIVING THE QUOTE AND AWARDING THE CONTRACT FOR THE WELL 5 REHABILITATION PROJECT Motion By: Second By: WHEREAS, routine maintenance of the city’s production wells is a critical action for providing clean and safe drinking water for the community; and WHEREAS, Well 5 was installed in 1988 and last rehabilitated in 2016; and WHEREAS, Bergerson Caswell, a reputable contractor in the industry, provided a quote in the amount of $26,105 for recommended service based on their inspection in March 2023; and WHEREAS, the 2023 Water CIP includes $52,500 for this project. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. The Mayor and City Manager are authorized to execute the city standard contract with Bergerson Caswell in the amount of $26,105 for the Well 5 rehabilitation project. 3. Funding for this project shall come from the Water CIP fund 601-49400.00-55530.00. st Passed and adopted by the Prior Lake City Council this 1 day of May 2023. VOTE Briggs Braid Burkart Churchill Lake Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager Error! Hyperlink reference not valid. Bergerson - Caswell Inc. 5115 Industrial Street • Maple Plain, MN 55359 Telephone: 763 - 479 - 3121 Fax: 763 - 479 – 2183 E-Mail: info@BergersonCaswell.com Equal Opportunity Employer/Contractor Bergerson - Caswell Inc. 5115 Industrial Street Maple Plain, MN 55359 (763) 479 -3121 Fax: (763) 479 -2183 April 13, 2023 CITY OF PRIOR LAKE Attn: Mr. Jake Theisen cell(952) 484-6847 17073 Adelmann Street SE ph(952) 447-4054 Prior Lake, MN 55372 fax(952) 440-9678 RE MAINTENANCE INSPECTION REPORT FOR WELL #5, With REPAIR PARTS PRICING Dear Mr. Theisen; Bergerson-Caswell Inc. appreciates the opportunity to assist you with your well & pump needs. As requested we are supplying a quote to perform the requested repairs/reconditioning to well pump #5. This pump currently is due for maintenance and was Removed a couple of weeks ago, we have disassembled and inspected all of the components in this pump installation and recommend the following repairs be performed to the different components. Overall the pump and well are in fairly good condition the bottom depth was same as when we reconditioned it in 2016, so no additional fill has built up since the last inspection. The pump does show normal signs of wear such that the bearing have .015 wear and the impeller skirts are worn to .048, according to the manufacture these values would indicate replacing the all bearing and having the impellers machined and wear rings reinstalled. These two repairs will bring the pump bowl back to as new condition and continue to operate as efficiently as designed. The other recommended repairs are the normal bearing replacement in the spider assemblies, straightening the line shafts, and reconditioning the discharge head packing gland, and replacing 65’ of column pipe. There are 75’ of pipe that we are reusing but 55’ is pipe that is above the SWL. The well was tested and video investigated, and everything appears normal I have included the results from the performance test, the installation data sheet, as well as the video investigation report along with this write up. One item I am not 100% sure about is epoxy coating. The last inspection we epoxy coated your pipe in anticipation that it would last through two maintenance cycles, but as it stands we are still replacing 65’. Now the epoxy coating has held up on all the pipe but the one we recommending replacing are corroded and the sealing surfaces (end of pipe with no epoxy)is where it is bad. The remaining areas of the pipe is still full thickness and in decent shape. I have offered a price for the epoxy coating the replaced pipe, and to rough up the surface on the ones that would get reused and recoat them $300/ 10’ section new and $120/ 10’ on the reused. I have included this below. PROJECT BID Materials and Services recommended to be performed at Well #5: 6 each 10"x 10' T & C drop pipe @ 1,350.00/ea $ 8,100.00 1 each 10”x 5’ T & C drop pipe @ $975.00/ea $ 975.00 Replace 14 Line shaft Bearings @ 35.00/ea $ 490.00 Replace Head shaft $ 750.00 Shop Labor to repair equipment; clean & straighten shafting, clean reused pipe, change Bearings in the spiders, repair pump; 30 Hrs @ $115.00/hr $ 3,450.00 Rebuild discharge head $ 550.00 Rebuild Pump Bowl Assembly (American Turbine 12-H-100 -4 stage) Set of bowl bearings $ 950.00 Machine impeller & install wear rings 4 each @ $750.00/ea $ 3,000.00 Drill and tap an additional hole in discharge for Stilling tube access (we are limited to location and size ) $ 500.00 Install 1” poly line for obtaining water levels 280’ @3.00/ft $ 840.00 4) Replace Oil & grease in VLT motor $ 500.00 The installation had a bit of a vibration going on, and I feel this motor should get reconditioned Recondition the 75 Hp VHS motor Estimate $3,150.00 Epoxy Coating/Re-Coating the column pipe $300/10’section on new, & $120/10’ reused $2,850.00 TOTAL MATERIALS & SERVICE COST $26,105.00 If you have any questions pertaining to the cost update/ inspection report, would like to schedule a meeting at our facility to go over your Well pump #5 installation and the disassembled components, or would like for us to perform these repairs, please do not hesitate to contact us at (763) 479-3121 or my cell (612) 369-3652 . We will wait to perform any additional services to this equipment until we hear back from you. Sincerely; BERGERSON CASWELL INC. Tim Berquam Project Manager ITEM: 6A CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Steve Hart, Parks & Recreation Manager PRESENTED BY: Steve Hart AGENDA ITEM: Proclamation to Declare the Second Week in May 2023 as Youth Appreciation Week RECOMMENDED ACTION: Proclaim second week in May as Youth Appreciation Week. BACKGROUND: The Prior Lake City Council has supported the Prior Lake-Savage Optimist Club for over 10 years and proclaimed a week as Youth Appreciation Week. Optimist International has developed and promoted this program since 1954. ATTACHMENTS: 1. 20230501 Youth Appreciation Proclamation City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 PROCLAMATION DECLARING THE SECOND WEEK OF MAY 2023, AS YOUTH APPRECIATION WEEK IN PRIOR LAKE WHEREAS, the clear majority of youth are concerned, knowledgeable and contributing partners within the Prior Lake community; and WHEREAS, the accomplishments and contributions of these young citizens deserves the recognition and praise of the community; and WHEREAS, Optimists International has, since 1954, developed and promoted a program entitled Youth Appreciation Week; and Prior Lake, Minnesota, supports our local businesses that create jobs, boost our local economy, and preserve our community; and WHEREAS, the City of Prior Lake desires to formally join the Optimists in expressing appreciation for those young citizens who, through their various efforts, help to make Prior Lake residents proud of our community. NOW THEREFORE, I, KIRT BRIGGS, MAYOR OF THE CITY OF PRIOR LAKE, MINNESOTA hereby proclaim the second week of May, as YOUTH APPRECIATION WEEK in the City of Prior Lake, Minnesota. ______________________________ Kirt Briggs, Mayor ITEM: 7A CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Jeff Matzke, Planner PRESENTED BY: Jeff Matzke AGENDA ITEM: Resolution Approving Vacation a Drainage and Utility Easement at 16080 Simms Court SE RECOMMENDED ACTION: Motion and second to approve a resolution to vacate a drainage and utility easement at 16080 Simms Court SE BACKGROUND: The purpose of this agenda item is to hold a public hearing to consider a request by Timothy and Shelly Dusek, the property owners, to vacate a portion of a drainage and utility easement located within the rear yard of 16080 Simms Court SE As required by State Statute 462.358 Subd.7, the City Council is required to review the disposal or acquisition of public lands as it relates to compliance with the Comprehensive Plan. Upon proper notification, State Statute 462.358 allows the Council to vacate easements by resolution. The statute also states, “no such vacation shall be made unless it appears to be in the public interest to do so.” The Comprehensive Plan does not specifically discuss utility easements, other than as a function of ensuring access to public utilities. The vacation of these easements is not inconsistent with any specific goal or objective of the Comprehensive Plan. The easement was granted in 2019 for drainage and utility purposes along with the residential subdivision plat. During the construction of the home at 16080 Simms Ct. the as-built survey showed that additional flood storage was provided on the property. As a result of the additional flood storage provided a portion of the existing easement is not necessary for the City and can be vacated to allow their retaining walls to be removed from the easement area. The property owner has also granted a new drainage and utility easement area to the City. Therefore, the existing easement area proposed for vacation is no longer necessary. FINANCIAL IMPACT: No Impact. ALTERNATIVES: 1. Motion and a second to approve a resolution approving the vacation of drainage and utility easements at 16080 Sims Court SE 2. Motion and a second to deny the vacation of drainage and utility easements at 16080 Simms Court SE 3. Motion and a second to table action and direct staff to provide additional information specifically requested by the City Council City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 Item 7A Page | 2 ATTACHMENTS: 1. Location Map 2. Easement Vacation Exhibit 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 23-___ RESOLUTION PROVIDING FOR THE VACATION OF A PORTION OF DRAINAGE & UTILITY EASEMENT AT 16080 SIMMS COURT SE Motion By: Second By: WHEREAS, Timothy and Shelly Dusek (the “Applicant”), has submitted a petition for the vacation of a drainage and utility easement within the rear yard at 16080 Simms Court SE (PID 255460040). The petition has been duly presented to the City of Prior Lake by the owners of the property situated in the City of Prior Lake, Scott County, Minnesota to wit: Legal Description (Vacated Drainage & Utility Easement): Vacation of a portion of the existing drainage and utility easement as described and recorded per Scott County Document Number A1138948 within Lot 4 , Block 1, CARDINAL OVERLOOK ADDITION, according to the record plat thereof, Scott County, Minnesota described as follows: Commencing at the southeast corner of said Lot 4, Block 1, CARDINAL OVERLOOK ADDITION; thence on an assumed bearing of North 14 degrees 52 minutes 00 seconds East, along the easterly line thereof, a distance of 38.46 feet to the point of the beginning of said portion of the existing easement to be vacated; thence continuing North 72 degrees 24 minutes 48 seconds West a distance of 10.17 feet; thence North 43 degrees 08 minutes 23 seconds West a distance of 63.21 feet; thence South 25 degrees 39 minutes 42 seconds West a distance 16.37 feet; thence South 41 degrees 04 minutes 41 seconds East a distance of 64.57 feet; thence South 89 degrees 44 minutes 03 seconds East a distance of 9.33 feet; thence North 29 degrees 59 minutes 51 seconds East a distance of 16.49 feet to the point of beginning. WHEREAS, Notice of the hearing has been duly published and posted in accordance with the applicable Minnesota Statutes; and WHEREAS, a Public Hearing was held on said petition on Monday, May 1, 2023, in the Council Chambers at City Hall, 4646 Dakota Street SE; and WHEREAS, the City Council then proceeded to hear all persons interested in said petition and persons interested were afforded the opportunity to present their views and objections to the granting of said petition; and WHEREAS, applicable deeded easements for drainage and utility purposes are in place, so the existing drainage and utility easement is no longer necessary for the maintenance of public utilities or any other public purpose. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. The City Council of Prior Lake has determined that the vacation of said public easement would be in the public interest. 3. This Resolution vacating a portion of the drainage and utility easement at 16080 Simms Court SE shall not be recorded until an as-built survey has been submitted confirming the portion of a retaining wall located within the 10 ft. drainage and utility easement along the southern property line has been removed; and, all City costs have been reimbursed per the Encroachment Agreement dated October 21, 2022. This Resolution shall be considered null and void if this condition has not been complied with by June 15, 2023. 4. Pursuant to Minnesota Statues 462.358, the following described public easement is hereby vacated: Legal Description (Vacated Drainage & Utility Easement): Vacation of a portion of the existing drainage and utility easement as described and recorded per Scott County Document Number A1138948 within Lot 4 , Block 1, CARDINAL OVERLOOK ADDITION, according to the record plat thereof, Scott County, Minnesota described as follows: Commencing at the southeast corner of said Lot 4, Block 1, CARDINAL OVERLOOK ADDITION; thence on an assumed bearing of North 14 degrees 52 minutes 00 seconds East, along the easterly line thereof, a distance of 38.46 feet to the point of the beginning of said portion of the existing easement to be vacated; thence continuing North 72 degrees 24 minutes 48 seconds West a distance of 10.17 feet; thence North 43 degrees 08 minutes 23 seconds West a distance of 63.21 feet; thence South 25 degrees 39 minutes 42 seconds West a distance 16.37 feet; thence South 41 degrees 04 minutes 41 seconds East a distance of 64.57 feet; thence South 89 degrees 44 minutes 03 seconds East a distance of 9.33 feet; thence North 29 degrees 59 minutes 51 seconds East a distance of 16.49 feet to the point of beginning. st Passed and adopted by the Prior Lake City Council this 1 day of May 2023. VOTE Briggs Braid Burkart Churchill Lake Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager 2 S I M M S C O U R T S E . E X I S T I N G H O U S E EXI S T I N G T R E E L I N E 5 5 17.5 17.5 10 10 10 E X I S T I N G E A S E M E N T T O B E V A C A T E D 10 EXISTING EASE M E N T E X . B O U L D E R R E T A I N I N G W A L L E X . B O U L D E R R E T A I N I N G W A L L E X . B O U L D E R R E T A I N I N G W A L L N1 4 ° 5 2 ' 0 0 " E 13 . 3 1 S2 5 ° 3 9 ' 4 2 " W 16 . 3 7 S 4 1 ° 0 4 ' 4 1 " E 6 4 . 5 7 S89°44'03"E 9.33 N2 9 ° 5 9 ' 5 1 " E 16 . 4 9 N72° 2 4 ' 4 8 " W 38.4 6 S89°14'42"W 10.24 EXISTI N G E A S E M E N T SE CORNER LOT 4 N 4 3 ° 0 8 ' 2 3 " W 6 3 . 2 1 N72° 2 4 ' 4 8 " W 10.1 7 EASEMENT VACATION EXHIBITDRAINAGE AND UTILITY EASEMENT VACATION DESCRIPTION (CARDINAL OVERLOOK ADDITION) Vacation of a portion of the existing drainage and utility easement as described and recorded per Scott County Document Number A1138948 within Lot 4, Block 1, CARDINAL OVERLOOK ADDITION, according to the record plat thereof, Scott County, Minnesota described as follows: Commencing at the southeast corner of said Lot 4, Block 1, CARDINAL OVERLOOK ADDITION; thence on an assumed bearing of North 14 degrees 52 minutes 00 seconds East, along the easterly line thereof, a distance of 13.31 feet; thence South 89 degrees 14 minutes 42 seconds West a distance of 10.24 feet; thence North 72 degrees 24 minutes 48 seconds West a distance of 38.46 feet to the point of beginning of said portion of the existing easement to be vacated; thence continuing North 72 degrees 24 minutes 48 seconds West a distance of 10.17 feet; thence North 43 degrees 08 minutes 23 seconds West a distance of 63.21 feet; thence South 25 degrees 39 minutes 42 seconds West a distance of 16.37 feet; thence South 41 degrees 04 minutes 41 seconds East a distance of 64.57 feet; thence South 89 degrees 44 minutes 03 seconds East a distance of 9.33 feet; thence North 29 degrees 59 minutes 51 seconds East a distance of 16.49 feet to the point of beginning. ITEM: 8A CITY COUNCIL AGENDA REPORT MEETING DATE: May 1, 2023 PREPARED BY: Casey McCabe, Community Development Director PRESENTED BY: Casey McCabe AGENDA ITEM: Resolution Approving a Temporary Dock Slip Placement for Waters Edge Marina RECOMMENDED ACTION: Approval of a resolution allowing the continuation of a 48-foot temporary extension to the Waters Edge Marina dock for 2023. BACKGROUND: Waters Edge Marina received an amended Minnesota Department of Natural Resources (DNR) permit (No. 1989-6275) in March 2011 to retain a 100 ft. wide permanent floating dock at the end of a 343 ft. long by 44 ft. wide dock with slips for 50 watercrafts. In May 2022, the Prior Lake City Council approved a temporary 48-foot extension for the 2022 boating season due to low water levels; however, the property owners only extended the dock by 36 feet in 2022. On April 17, 2023 the City Council considered this request for the continuation of a 48-foot temporary extension to the Waters Edge Marina dock in 2023. This request was tabled to May 1, 2023 with direction for staff to provide an accurate visual representation of the current dock configuration and provide an update of the lake elevation as water levels continue to rise this spring. Current Circumstances City staff were contacted by the owners of Waters Edge Marina who have concerns about low water levels in 2023 and requested the previously approved temporary 48-foot dock extension be continued for the 2023 boating season as well. The marina owners have commented that during periods of low water levels, they have approximately six watercraft slips near the shoreline which do not have the proper water depth to support a boat. The owners do not intend to extend the temporary dock an additional 12 feet (from 36 ft. to 48 ft.) at this time but would like to maintain the option to temporarily extend the dock an additional 12 feet later this summer if it becomes necessary. As shared with the City Council at their last meeting, Prior Lake was at an elevation of 899.92 ft as of April 17, 2023 (+2.13 ft. since November 2022). As of April 24, 2022, the date this report was written, Prior Lake was at an elevation of 900.42 ft. Staff will provide the Council with an up st to date elevation during the May 1 meeting. Prior Lake City Staff and Prior Lake Spring Lake Watershed District staff do anticipate lake levels will continue to rise due to the heavy amount of snow received over the winter. While lake levels are projected to rise, Waters Edge Marina does not want to be required to reconfiguring the dock system midway through the season if lake levels change and are seeking approval to allow the temporary dock extension for the entire 2023 boating season, regardless of the lake elevation. City of Prior Lake | 4646 Dakota Street SE | Prior Lake MN 55372 Item 8A Page | 2 Conclusion If approved, the request for City Council to temporarily extend the Waters Edge Marina dock by 48 feet would be effective for the 2023 boating season only. This is the second year this same request has been brought to the City Council. City staff is proposing language in the attached resolution which would allow for the Community Development Director to approve future similar requests for a Waters Edge Marina temporary dock extension if the elevation of Prior Lake is below 901 ft. as of October 15th of any future year. If approved, this would allow for City staff to administratively approve future requests and not require the item to be brought to the City Council for consideration each time. If the City Council is not supportive of approving the temporary 48-foot extension for the 2023 boating season but is supportive of a resolution allowing the Community Development Director to administratively approve future similar requests for a Waters Edge Marina temporary dock extension if the elevation of Prior Lake is below 901 ft. as of October 15th of any future year, a second resolution has been attached to this report for that purpose. FINANCIAL IMPACT: No financial impact is anticipated because of this request. ALTERNATIVES: 1. If the Council supports the continuation of a 48-foot temporary extension to the Waters Edge Marina dock in 2023 and authorization for the Community Development Director to administratively approve similar request in future years:  Motion and second to approve a resolution approving a temporary 48-foot extension to the Waters Edge Marina dock in Boudins Bay for the 2023 boating season. 2. If the Council is not supportive of the continuation of a 48-foot temporary extension to the Waters Edge Marina dock in 2023 and not supportive of the Community Development Director administratively approving similar temporary extension requests due to low water levels in future years  Motion and second to deny the resolution approving a temporary 48-foot extension to the Waters Edge Marina dock in Boudins Bay for the 2023 boating season. 3. If the Council is not supportive of approving the temporary 48-foot extension for the 2023 boating season, but is supportive of the Community Development Director administratively approving similar temporary extension requests due to low water levels in future years:  Motion and second to approve a resolution authorizing administrative approvals for temporary dock extensions at Waters Edge Marina. ATTACHMENTS: 1. Current Dock Configuration 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 23- RESOLUTION APPROVING A TEMPORARY 48-FOOT EXTENSION TO THE WATERS EDGE MARINA DOCK IN BOUDINS BAY FOR THE 2023 BOATING SEASON Motion By: Second By: WHEREAS, Waters Edge Marina received an amended Minnesota Department of Natural Resources (DNR) permit (No. 1989-6275) in March 2011 to retain a 100 ft. wide permanent floating dock at the end of a 343 ft. long by 44 ft. wide dock with slips for 50 watercrafts; and WHEREAS, in May 2022, the Prior Lake City Council approved a temporary 48-foot dock extension for the 2022 boating season due to low water levels; and WHEREAS, on May 1, 2023, the Prior Lake City Council considered a request for a continuation of the previously approved temporary 48-foot dock extension for the 2023 boating season due to low water levels; and WHEREAS, the City Council approved the temporary 48-foot dock extension for the 2023 boating season; and WHEREAS, the City Council would like to identify a process for administrative approval of similar temporary dock extension requests for Waters Edge Marina in the future. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. This approval to temporarily extend the Waters Edge Marina dock by 48 feet is effective for the 2023 boating season only. 3. In future years, the Prior Lake Community Development Director is authorized to administratively approve this temporary 48-foot dock extension for Waters Edge Marina for individual boating th seasons in the event the elevation of Prior Lake is 901 feet or less as of October 15 of the prior year. st Passed and adopted by the Prior Lake City Council on this 1 day of May 2023. VOTE Briggs Burkart Braid Churchill Lake Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager 4646 Dakota Street SE Prior Lake, MN 55372 RESOLUTION 23- RESOLUTION AURHORIZING ADMINISTRATIVE APPROVALS FOR TEMPORARY DOCK EXTENSIONS AT WATERS EDGE MARINA Motion By: Second By: WHEREAS, Waters Edge Marina received an amended Minnesota Department of Natural Resources (DNR) permit (No. 1989-6275) in March 2011 to retain a 100 ft. wide permanent floating dock at the end of a 343 ft. long by 44 ft. wide dock with slips for 50 watercrafts; and WHEREAS, in May 2022, the Prior Lake City Council approved a temporary 48-foot dock extension for the 2022 boating season due to low water levels; and WHEREAS, on May 1, 2023, the Prior Lake City Council considered a request for a continuation of the previously approved temporary 48-foot dock extension for the 2023 boating season due to low water levels; and WHEREAS, the City Council denied the request for a continuation of the temporary 48-foot dock extension for the 2023 boating season on May 1, 2023; and WHEREAS, the City Council would like to identify a process for administrative approval of temporary dock extension requests due to low water levels for Waters Edge Marina in future years. NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF PRIOR LAKE, MINNESOTA as follows: 1. The recitals set forth above are incorporated herein. 2. This approval to temporarily extend the Waters Edge Marina dock by 48 feet for the 2023 boating season is denied. 3. In future years, the Prior Lake Community Development Director is authorized to administratively approve a temporary 48-foot dock extension for Waters Edge Marina for individual boating seasons th in the event the elevation of Prior Lake is 901 feet or less as of October 15 of the prior year. st Passed and adopted by the Prior Lake City Council on this 1 day of May 2023. VOTE Briggs Burkart Braid Churchill Lake Aye ☐ ☐ ☐ ☐ ☐ Nay ☐ ☐ ☐ ☐ ☐ Abstain ☐ ☐ ☐ ☐ ☐ Absent ☐ ☐ ☐ ☐ ☐ ______________________________ Jason Wedel, City Manager Waters Edge Marina Current Dock Configuration