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2
GENERAL FUND
(Pages 8‐16)
A. 2014 Unencumbered Fund balance
The General Fund has an estimated 2014 ending fund balance of $9,760,650. Staff is
recommending that when the Actual 2014 ending fund balance is determined (mid‐
March 2015), the unencumbered balance in excess of $9,760,650 is to be appropriated
as follows:
1. First $150,000 appropriated to:
The City share of cost of the 2015 Street Reconstruction in order to reduce debt
financing, future interest costs and future tax levies.
2. Next $300,000 be appropriated (prorated) as follows:
a) 2015 Equipment Fund (non‐funded equipment)
Maximum Allot
i. Police $65,000 21.7%
ii. Fire $25,000 8.3%
iii. Streets $38,000 12.7%
iv. Parks $22,000 7.3%
b) Park Improvement Fund (NEW)
i. Parks $150,000 50.0%
(i.e. Land of Amazement)
3. Remaining unencumbered balances appropriated to:
The City share of cost of the 2015 Street Reconstruction in order to reduce debt
financing, future interest costs and future tax levies.
Source of Fund
B. Revenues
1. Non‐tax revenues $ 60,177
Fee Schedule adjustments
2. Tax Levy – undesignated $ (9,177)
Total SOURCES $51,000
3
Uses of Fund (expenditures)
C. Operations ‐ Staffing
1. Fire – Asst Chief and Duty Crews $ 93,820
2. Human Resources – Adm Asst. $22,270
3. Police Officer (6‐1‐2015) $46,558
D. Operations ‐ Growth
Issuance of building permits for single family residential is down approximately 20%
from 2013 levels. Projections for 2015 new construction of single family dwellings is
reduced to 300 units. The average value of a residential dwelling is currently
approximately $345,000 which is 7% increase from prior year.
Commercial and industrial construction is increasing; permits will be issued in the
coming year for BTD and Fed Ex.
Inspections is not requesting any new staff for the coming year, however, if construction
activity increases above the levels discussed above, additional staffing will be requested
to meet service level expectations.
E. Operations – Other
1. Other ($142,948)
2. Fire Relief – pensions $ 5,000
3. Parks – Major Maintenance $ 26,300
Parks major maintenance increase is to finance tree trust labor and materials,
address bleacher safety issues at Quigley Sime, joint venture with community
organizations to repair benches in 3 parks.
Total USES $ 51,000
4
2014 2015
2013 Amended 2014 Potential
Actual Budget Estimate Budget
Revenues
General property taxes 15,964,728$ 16,794,367$ 16,826,757$ 17,889,258$
Licenses and permits 2,087,937 1,947,676 1,951,991 1,951,491
Intergovernmental 797,372 608,401 735,034 742,661
Charges for services 2,037,504 2,156,037 2,170,999 2,714,948
Court fines 219,535 274,590 209,716 288,001
Investment income (27,206) 44,413 40,376 40,376
Miscellaneous 93,913 61,461 77,468 46,145
Total revenues 21,173,783 21,886,945 22,012,341 23,672,880
Expenditures
General government
Mayor and Council 91,761 97,021 97,071 97,411
Committees and Commissions 56,606 62,794 66,013 71,096
City administration 347,280 409,435 432,675 414,285
City Clerk 114,304 186,347 199,761 127,401
Legal counsel 72,033 82,351 82,351 82,351
Planning 361,156 433,534 420,943 430,145
Community and econ. development 293,513 300,021 299,834 300,526
Inspections 840,837 861,258 902,770 856,852
General government facilities 401,024 420,461 443,493 433,123
Finance 612,903 637,796 637,287 646,027
Information systems 460,185 495,188 490,644 530,931
Human resources 334,446 355,179 357,611 378,472
Insurance 227,420 289,075 289,075 322,100
Public safet y
Police 8,648,351 9,018,274 9,057,586 9,235,925
Fire 1,469,731 1,438,168 1,559,677 1,651,560
Public works
Engineering 666,090 911,918 740,415 720,315
Streets 3,100,857 2,759,539 3,167,341 3,406,647
Parks and recreation
Parks 2,135,103 2,251,780 2,245,504 2,355,875
Recreation 562,675 589,769 607,668 608,476
Heritage Center 90,419 79,311 97,569 104,516
Arts Center 425,994 408,390 433,828 448,505
Other - 151,890 46,890 105,000
Total expenditures 21,312,688 22,239,499 22,676,006 23,327,539
Excess (deficiency) of revenues
over expenditures (138,905) (352,554) (663,665) 345,341
Other financing sources (uses)
Transfer from other funds 715,297 759,814 757,755 809,935
Transfer to other funds (2,401,607) - - (727,000)
Total other financing sources (uses) (1,686,310) 759,814 757,755 82,935
Net change in fund balance (1,825,215) 407,260 94,090 428,276
Fund balance, January 1 11,491,775 9,666,560 9,666,560 9,760,650
Fund balance, December 31 9,666,560$ 10,073,820$ 9,760,650$ 10,188,926$
Ratio: Fund balance to expenditures 45.4%45.3%43.0%43.7%
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances
For the Year Ending December 31, 2015
CITY OF LAKEVILLE, MINNESOTA
5
TRAIL IMPROVEMENT FUND
(Page 28 – 30)
OBJECTIVE: Provide a consistent reliable source of financing to maintain City
assets – infrastructure ‐ consistent with the recommendations contained within
the Five Year Financial Projects Analysis.
Source of Fund
F. Tax Levy – undesignated $33,000
Uses of Fund (expenditures)
G. Longer term Trail Major Maintenance and reconstruction $33,000
PARK IMPROVEMENT FUND (NEW)
(Page 31 – 32)
OBJECTIVE:
Provide supplemental revenues for Land of Amazement
Provide a Cost Effective method financing infrastructure maintenance
Source of Fund
H. General Fund – 2014 unencumbered fund balance $ (to be determined)
Maximum $150,000 – Refer to General Fund discussion on page 2.
Uses of Fund (expenditures)
Refer to Non‐Financed Projects ‐ page 32
6
BUILDING FUND
(Page 33 – 38)
OBJECTIVE: Provide a consistent reliable source of financing to maintain City
assets – infrastructure ‐ consistent with the recommendations contained within
the Five Year Financial Projects Analysis.
Source of Fund
I. Tax Levy – undesignated $51,000
Uses of Fund (expenditures)
Finance projects identified on pages 34 ‐ 38 (details provided on pages 118‐119).
NOTE: certain issues such as CMF hoist need immediate attention and council approval.
2015 2016 2017 2018 2019
Revenues
Property Taxes 51,000 102,000 153,000 204,000 255,000
Expenditures - Capital outlay
Arts Center 48,575 4,000 6,800 36,000 10,800
Central Maintenance Facility 53,367 28,000 33,800 16,000 -
City Hall 293,500 - 120,000 77,000 55,000
Fire Station #1 173,000 20,000 - - -
Fire Station #2 134,500 1,800 5,300 - -
Fire Station #3 10,700 4,800 - - -
Fire Station #4 2,400 10,000 7,200 - 115,000
Heritage Center 94,950 95,350 4,000 - 57,400
Police Station 4,100 ‐ ‐ ‐ ‐
Total expenditures 815,092 163,950 177,100 129,000 238,200
Net change in fund balance (764,092) (61,950) (24,100) 75,000 16,800
Fund balance, January 1 889,001 124,909 62,959 38,859 113,859
Fund balance, December 31 124,909 62,959 38,859 113,859 130,659
Building Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances
7
EQUIPMENT FUND
(Page 39 ‐ 41)
OBJECTIVE: Provide a consistent reliable source of financing to maintain City assets –
infrastructure ‐ consistent with the recommendations contained within the Five Year
Financial Projects Analysis.
Source of Fund
J. Tax Levy $28,000
Uses of Fund (expenditures)
Includes long‐term financing for replacement of all equipment shown on page 40
(details on page 102‐110). Also includes financing for the following in order to improve
efficiencies through potential cost reduction, productivity, quality, and/or safety:
a) Fire
a. Thermal cameras $12,190
b. Intake valve $ 2,800
c. Gear Dryer $ 1,815
b) Streets
a. Attenuator $27,176
b. Mobile Resource $11,234
c. Multi. Diagnostics $ 2,660
c) Parks
a. Turbine Blower (2016) $ 8,000
Non‐financed Equipment Acquisitions
Staff has requested the acquisition of equipment that will improve efficiencies through
improved productivity and quality. However, there is not financing provided for the
equipment. Staff is recommending the 2015 non‐financed equipment be purchased from the
unencumbered 2014 General fund balance – if available – as shown below.
K. General Fund – unencumbered 2014 fund balance $ (to be determined)
Maximum $150,000. Refer to General Fund recommendations discussed on page 2.
i. Police $65,000 21.7%
ii. Fire $25,000 8.3%
iii. Streets $38,000 12.7%
iv. Parks $22,000 7.3%
8
2015 2016 2017 2018 2019
Revenues
General property taxes 300,000 328,000 356,000 384,000 412,000
Sale of assets 225,804 248,800 189,975 206,700 233,100
Transfer from:
Liquor Fund 825,812 847,063 868,230 894,306 894,306
Communications Fund 495,000
General Fund 720,000
Pavement Management 524,000
Debt 500,000
Total other financing sources 3,090,616 1,923,863 1,414,205 1,485,006 1,539,406
Expenditures
Election equipment 26,667 26,667 26,667 - -
Fire 561,534 542,758 135,683 263,750 66,750
Parks 364,972 399,471 194,057 276,642 80,450
Police 304,441 516,720 763,613 675,586 289,007
Streets 865,582 1,074,246 956,163 592,919 1,257,297
Debt Repayment - - 64,752 65,000 65,000
Technology 87,926 93,764 233,730 445,130 106,084
Total expenditures 2,211,122 2,653,626 2,374,665 2,319,027 1,864,588
Net change in fund balance 879,494 (729,763) (960,460) (834,021) (325,182)
Fund balance, January 1 2,137,056 3,016,550 2,286,787 1,326,327 492,306
Fund balance, December 31 3,016,550 2,286,787 1,326,327 492,306 167,124
Equipment Fund - REVISED - October 14, 2014
Statement of Revenue, Expenditures and Changes in Fund Balance
9
TAX INCREMENT FUND
(Page 42)
Future budget presentations will include a discussion of
a) Unencumbered proceeds from TIF 17 (approximately $85,000)
b) Appropriation of TIF 3, 8 and 9.
c) Southfork Loan Repayment ($2.2 million)
10
PROPERTY TAXES
(Page 46 ‐ 54)
L. Appropriation of “Undesignated” Property Tax Levy
Balance
"Undesignated"
Fund ‐ Purpose Amount Taxes
Preliminary Tax Levy 286,881$
Fee Increase (60,177) 347,058
Other expenditures adjustments (142,948) 490,006
Building Fund ‐ long term maintenance 51,000 439,006
Equipment financing 28,000 411,006
Operations ‐ Asst. Fire Chief and Duty Crews 93,820 317,186
Operations ‐ Human Resources: Adm. Asst 22,270 294,916
Operations ‐ Police Officer 46,558 248,358
Trail Improvement (maintenance) Fund 33,000 215,358
Operations ‐ Fire Relief 5,000 210,358
Operations ‐ Park major maintenance 26,300 184,058
The proposed tax levy is therefore as follows:
Recommended
Preliminary Adjustment Proposed
Debt
Street improvements 3,393,258 3,393,258
Police Station 678,478 678,478
Central Maintenance Facility 911,081 911,081
Ice Arena 314,505 314,505
General Fund 17,838,233 (9,177) 17,829,056
Pavement Management Fund 1,191,550 1,191,550
Equipment Fund 300,000 28,000 328,000
Building Fund 51,000 51,000
Trail Fund 45,200 33,000 78,200
Subtotal 24,672,305 102,823 24,775,128
Undesigned 286,881 (102,823) 184,058
Total tax levy 24,959,186$ ‐$ 24,959,186$
Purpose
11
NON – PROGRAMMED / NON‐Financed
A. 2015 staffing needs to address growth due to new residential construction including but
not limited to Street and Park Maintenance.
B. Appropriations in 2015 for staff reorganization or to address staffing resource
adjustments.
C. Financing plan (2016 and beyond) for staff and equipment related to growth.
a. Police officer
b. Street Maintenance
c. Parks
D. Parks – Facility Replacements
E. Highview Heights – Rink major maintenance
F. Ipava Avenue Tree Replacement
G. Pioneer Plaza – reconstruction
H. Round‐about landscaping at 175th/Kenrick Avenue.
I. Parks – tree replacement