HomeMy WebLinkAbout3F - Treasurer's Report
HERITAGE
1891
COMMUNITY
1991
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TO: Mayor and City council
FROM: Ralph Teschner, Finance Director
DATE: september 6, 1991
RE: september 1, 1991 Treasurer's Report
08/1/91 09/1/91
FUNDS BALANCE RECEIPTS DISBURSEMENTS BALANCE INVESTMENTS
General 10,233.28 218,582.25 277,569.42 (48,753.89) 1,125,000.00
Sewer & Water (4,363.32) 133,099.06 62,684.84 66,050.90 784,000.00
Capital Park 29,083.52 1,400.00 2,478.70 28,004.82
Debt Service 18,885.53 56,721.40 24,597.50 51,009.43 6,061,000.00
Construction 6,728.84 58,045.46 62,535.98 2,238.32 568,000.00
Tax Increment 32,896.19 131. 04 0.00 33,027.23
Equip. Acquis. 1,045.42 35,781. 96 32,738.00 4,089.38 125,000.00
Trunk Reserve 14,925.83 2,602.46 0.00 17,528.29 275,000.00
TOTAL
109,435.29
506,363,63
462,604.44 153,194.48 8,938,000.00
4629 Dakota S1. S.E., Prior Lake, Minnesota 55372 / Ph. (612) 447-4230 / Fax (612) 447-4245
Attachment for Agenda Item H 4
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Finance Department
BOND ISSUE ANALYSIS
$2,400,000 FIRE G.O. BONDS
. Smaller issuance size may enhance public perception, garner greater voter
acceptance and thereby increasing chance of success.
. Smaller bond issue amount could, depending upon market demand and con-
ditions, result in a more favorable interest rate which could translate into a
significant dollar savings over the twenty five year life of the bonds.
. Utilizing equipment certificates to supplement the building bonds would al-
low debt retirement associated with the equipment to be accelerated
faster.(5 yrs. vs 25 yrs.)
. Impact upon property taxes would be lower on an annual basis over the term
ofthe bond issue. Example: (1125,000 house) Property tax cost tsprojected
to be approximately 11% less (1962.83 vs. 11,070.87).
. Outstanding general obligation debt would be less which has a positive effect
upon the City's bond rating.
$2,900,000 FIRE G.O. BONDS
. Consolidated issue wilt result in savings associated with fiscal fees, publica-
tion costs, etc. of an estimated $1,000.00 - 5,000.00.
. Equipment would be amortized over a longer period of time which results
in a more equitable cost distribution and payback for the taxpayers.
. Greater participation by the Public in the decision making process via the
referendum.
. Overall costs are presented as a total and true picture versus breaking the
amount up into two bond issues.
. Greater administrative ease and management efficiency would be accom-
plished by a single financing issuance.