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Home My WebLink About13-079CITY OF LAKEVILLE RESOLUTION No. 13 -79 RESOLUTION APPROVING THE PRELIMINARY 2014 (PROPERTY) TAX LEVY AND PRELIMINARY 2014 BUDGET BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the Preliminary 2014 tax levy in the amount of $23,984,269 is hereby approved as shown on Exhibit A attached hereto and Exhibit B - Tax Levy for Debt - attached hereto. BE IT FURTHER RESOLVED by the City Council of the City of Lakeville, Minnesota that the Preliminary 2014 Budget is hereby approved and adopted as shown on Exhibit C thru I attached hereto. APPROVED AND ADOPTED this 16th day of September 2013 by the City Council of the City of Lakeville, Minnesota. CITY OF LAKEVILLE, MINNESOTA By: - 0-- V 4— Matt Littl ayor ATTE 7 Charlene Friedges, City Clerk EXHIBIT A PRELIMINARY 2014 (PROPERTY) TAX LEVY Total General Fund $ 17,129,137 Public Works Reserve - Pavement Mgmt. 1,205,350 Trails Fund 45,200 Debt Service Park Refunding Bonds 2011 B 350,175 Capital Improvement Bonds 2004A 932,906 Ice Arena Lease Revenue Bonds 2006 315,325 Capital Improvement Bonds 2007D 977,113 G. O. Improvement Bonds 2009 278,415 G. O. Improvement Bonds 2011 157,855 G. O. Improvement Bonds 2012 534,776 G. O. Improvement Bonds 2013 322,269 Street Reconstruction Bonds 2003A 950,578 Street Reconstruction Bonds 2005A 182,809 Street Reconstruction Bonds 2007H 231,467 Street Reconstruction Bonds 2009A 370,894 Total $ 23,984,269 EXHIBIT B PROPERTY TAX LEVY FOR DEBT The following is a schedule of all debt which, at the time of issuance, included certification of future property tax levy. The following schedule - column B - provides list of debt listing actual tax levies for taxes payable 2014. The difference betwe( certification and actual is due to changes in funding sources such as interest c investments, liquor fund contributions, special assessments, General Fund (operatic levies) and other contributing factors. Bong Description Debt Schedule C erdfied Levy (A) (B) Capital Improvement Bonds 2004A Ice Arena Lease Revenue Bonds 2006 Capital Improvement Bonds 2007D Improvement Bonds 2007B Improvement Bonds 2008A Improvement Refunding Bonds 2009B Improvement Bonds 2011A Improvement Bonds 2012A Improvement Bonds 2013A Street Reconstruction Bonds 2003A Street Reconstruction Bonds 2005A Street Reconstruction Bonds 2007H Street Reconstruction Bonds 2009A Refunding Bonds 2011B Refunding Bonds 2012B Debt Service Total ** $ 320,000 $ 932,906 - 315,325 1,143,306 977,113 93,210 - 150,068 - 455,451 278,415 157,855 157,855 534,776 534,776 - 322,269 1,122,776 950,578 240,242 182,809 231,467 231,467 432,156 370,894 521,228 350,175 1,412,565 - $ 6,815,100 $ 5,604,582 EXHIBIT C CITY OF LAKEVILLE, MINNESOTA General Fund Schedule of Revenues, Expenditures and Changes in Fund Balances For the Years Ending December 31, 2014 Expenditures Total Revenues 97,021 General property taxes $ 17,120,640 Licenses and permits 1,947,676 Intergovernmental 604,021 Charges for services 2,173,377 Court fines 274,590 Investment income 44,413 Miscellaneous 61,461 Transfer from other funds 704,814 Total revenues and transfers 22,930,992 Expenditures Mayor and Council 97,021 Committees and Commissions 62,794 City administration 403,228 City Clerk 184,724 Legal counsel 82,351 Planning 427,787 Community and econ. development 295,953 Inspections 851,202 General government facilities 417,452 Finance 626,703 Information systems 490,633 Human resources 351,013 Insurance 310,883 Police 8,930,800 Fire 1,427,235 Engineering 904,728 Streets 2,739,532 Parks 2,206,475 Recreation 585,451 Heritage Center 125,531 Arts Center 405,068 Other 541,754 Total expenditures 22,468,318 Net change in fund balance 462,674 Fund balance, January 1 8,634,300 Fund balance, December 31 $ 9,096,974 EXHIBIT D CITY OF LAKEVILLE, MINNESOTA Budgetary Summary for All Special Revenue Funds Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances For the Years Ending December 31, 2014 Total Revenues Licenses Intergovernmental Charges for services Investment income Total revenues Expenditures General government Capital outlay Total expenditures $ 610,915 516 2,500 9,313 623,244 474,046 70,564 544,610 Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfer to other funds Net change in fund balance Fund balance, January 1 Fund balance, December 31 78,634 67 10,710 860,835 $ 871,545 EXHIBIT E CITY OF LAKEVILLE, MINNESOTA Budgetary Summary for All Debt Service Funds Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances For the Years Ending December 31, 2014 Expenditures - debt service Principal maturities Total Revenues 3,700,592 General property taxes $ 5,604,582 Tax increment 691,447 Intergovernmental 904,639 Charges for services 403,951 Special assessments 765,271 Investment income 39,818 Donations 95,000 Miscellaneous 480 Total revenues 8,505,188 Expenditures - debt service Principal maturities 5,295,000 Interest on debt 3,700,592 Fiscal charges 23,939 Total expenditures 9,019,531 Excess (deficiency) of revenues over expenditures (514,343 Other financing sources (uses) Transfer from other funds 1,281,800 Transfer to other funds (63,600) Refunding bonds issued - Payment on refunded bonds called (10,735,000) Premium on bonds issued - Discount on bonds issued Total other financing sources (uses) (9,516,800 Net change in fund balance (10,031,143) Fund balance, January 1 32,420,234 Fund balance, December 31 $ 22,389,091 EXHIBIT F CITY OF LAKEVILLE, MINNESOTA Budgetary Summary for Capital Projects Funds Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances For the Year Ending December 31, 2014 1 (continued on following page) 2014 Proposed Budget Municipal Pavement Improvement Storm Sanitary State -aid Manaaement Construction Sewer Water Sewer Revenues General property taxes $ $ 1,205,350 $ - $ $ - $ - Tax increment - - - Intergovernmental 3,057,000 374,335 - - Charges for services - - - 1,069,877 1,452,750 294,500 Special assessments - - 880 5,000 20,930 Investment income - - - - - Miscellaneous - - - - 279,340 - Total revenues 3,057,000 1,579,685 - 1,070,757 1,737,090 315,430 Expenditures - Capital outlay General government - - - - - - Public safety Police - - - Fire - - - - - Public works 5,962,515 1,992,469 9,151,826 834,939 1,948,000 302,000 Parks and recreation - - - - - - Total expenditures 5,962,515 1,992,469 9,151,826 834,939 1,948,000 302,000 Excess (deficiency) of revenues over expenditures (2,905,515 (412,784 (9,151,826 235,818 (210,910 13,430 Other financing sources (uses) Transfer from other funds 63,600 - Transfer to other funds - (81,000) (1,122,893) - Issuance of debt - 9,151,826 - Total other financing sources (uses) - 9,151,826 (17,400 (1,122,893 - Net change in fund balance (2,905,515) (412,784) - 218,418 (1,333,803) 13,430 Fund balance, January 1 2,980,712 1,673,296 730,530 1,149,652 1,960,639 3,598,532 Fund balance, December 31 $ 75,197 $ 1,260,512 $ 730,530 $ 1,368,070 $ 626,836 $ 3,611,962 1 EXHIBIT F CITY OF LAKEVILLE, MINNESOTA Budgetary Summary for Capital Projects Funds Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances For the Year Ending December 31, 2014 (continued from previous page) Revenues General property taxes Tax increment Intergovernmental Charges for services Special assessments Investment income Miscellaneous Total revenues Expenditures - Capital outlay General government Public safety Police Fire Public works Parks and recreation Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses) Transfer from other funds Transfer to other funds Issuance of debt Total other financing sources (use Net change in fund balance Fund balance, January 1 Fund balance, December 31 2014 Proposed Budget Park Trail Tax Dedication Improvement Increment Buildine Equipment Total A W ICI W W A M W M O $ 45,200 $ - $ - 189,667 4,000 342 49,200 190,009 1,113 $ - $ 1,250,550 - 189,667 19,814 3,451,149 - 2,817,127 - 26,810 - 4,342 240,500 519,840 260,314 8,259,485 150,712 330,397 482,222 - 17,100 638,523 655,623 - 48,500 832,805 881,305 - 55,000 861,827 21,108,576 286,596 - 106,513 485,212 878,321 286,596 1,113 377,825 3,148,764 24,006,047 (237,396 188,896 (377,825 (2,888,450 (15,746,562 - 960 1,100,000 1,164,560 - - - - (1,203,893) - - 9,151,826 960 1,100,000 9,112,493 (237,396) 188,896 (376,865) (1,788,450) (6,634,069) 2,108,392 759,340 74,594 1,400,812 3,963,446 20,399,945 $ 2,108,392 $ 521,944 $ 263,490 $ 1,023,947 $ 2,174,996 $ 13,765,876 2 EXHIBIT G CITY OF LAKEVILLE, MINNESOTA Enterprise - Liquor Fund Schedule of Revenues, Expenses and Changes in Net Position For the Years Ending December 31, 2014 Sales and cost of sales Sales Cost of sales Gross profit Operating expenses Personnel services Commodities Other charges and services Total operating expenses Operating income Non - operating revenue (expense) Intergovernmental Investment income Miscellaneous Disposal of assets Total non - operating (net) Total $ 15,829,693 11,853,712 3,975,981 1,344,654 65,786 874,430 2,284,870 1,691,111 3,900 23,673 3,600 31,173 Income before transfers, bond expense, and depreciation 1,722,284 Transfers to other funds (1,360,523) Bond expense (153,055) Depreciation (118,997 Total transfers, bond expense and depreciation (1,632,575 Change in net position Net position, January 1 Net position, December 31 89,709 5,549,981 $ 5,639,690 Capital outlay acquisitions $ 40,233 EXHIBIT H CITY OF LAKEVILLE, MINNESOTA Enterprise - Utility Fund Schedule of Revenues, Expenses and Changes in Net Position For the Years Ending December 31, 2014 Total Operating revenues User charges for services $ 8,935,004 Other 180,322 Total operating revenue 9,115,326 Operating expenses 1,073,224 Personnel services 1,964,758 Commodities 459,953 Other charges and services 2,663,259 Disposal charges 3,297,982 Major maintenance 2,091,157 Total operating expenses 10,477,109 Operating income (expense) (1,361,783 Non - operating revenue Net position, December 31 Intergovernmental 50,256 Investment income 41,749 Disposal of assets 9,000 Total non - operating revenue 101,005 Income (loss) before contributions, transfers, and depreciation (1,260,778 Contributed capital 1,073,224 Transfers from other funds 20,245 Transfers to other funds (449,017) Depreciation (3,408,984 Total contributions, transfers, and depreciation (net) (2,764,532 Change in net position (4,025,310) Net position, January 1 107,603,878 Net position, December 31 103,578,568 Capital outlay acquisitions $ 388,148 EXHIBIT I CITY OF LAKEVILLE, MINNESOTA Internal Service - Municipal Reserves Fund Schedule of Revenues, Expenses and Changes in Net Position For the Years Ending December 31, 2014 Operating revenues Charges for services Other Total operating revenues Operating expenses Other charges and services Operating income Non - operating revenue (expense) Intergovernmental Investment income Transfer to General Fund Total non - operating (net) Change in net assets Net position, January 1 Net position, December 31 Total $ 403,133 74,150 477,283 428,727 48,556 3,150 (48,555 (45,405 3,151 831,991 $ 835,142