HomeMy WebLinkAboutItem 08
December 5, 2016 Item No. ________
PUBLIC BUDGET MEETING (TRUTH IN TAXATION) FOR
2017 PROPERTY TAX LEVY AND 2017 BUDGET
Proposed Action
Conduct a public budget meeting (Truth in Taxation).
Following the public budget meeting, Staff recommends adoption of the following motion:
Move to approve the Resolution Adopting the 2017 Property Tax Levy and the Resolution
Adopting the 2017 Budget.
Approval of the motion adopts the 2017 property tax levy and the 2017 budget.
Overview
Minnesota Statutes require a public hearing prior to adoption of the 2017 budget and tax levy.
The purpose of the hearing is to present the proposed 2017 budget and tax levy and provide
taxpayers the opportunity to ask questions and present comments.
At the hearing, a brief overview of the budget and tax levy will be presented. After all persons
have had an opportunity to speak, the City Council should close the hearing. Adoption of the
budget and tax levy will follow the public budget meeting.
The 2017 budget and tax levy were presented at Council work sessions held on August 22 and
November 28 and the council meeting held on September 19. The attached resolutions are
consistent with the direction provided by the City Council at the November 28 worksession.
The following chart reflects the proposed 2017 levy as compared to the 2016 levy:
Fund Proposed Change
2017 from 2016
Levy ($)
General Fund 18,842,000$ 288,205$
Street Reconstruction 50,000 -
Pavement Management Fund 1,191,550 -
Building Fund 150,000 99,000
Equipment Fund 350,000 100,000
Park Improvement Fund 175,000 125,000
Trail Improvement Fund 111,200 33,000
Debt Service Funds 5,809,864 354,790
TOTAL LEVY 26,679,614$ 999,995$
The proposed 2017 tax levy ($26,679,614) is $271,333 less than the preliminary tax levy
approved September 19, 2016 and results in a 3.89% increase from 2016 to 2017.
The City portion of the property taxes of the median valued home ($268,400) is estimated to
increase by $13 when taking into account the increase in market value and a 3.89% increase in
the City property tax levy. The proposed City tax levy will result in an estimated $227 decrease
on a commercial property valued at $1 million.
Primary Issues to Consider
• Adjustments to the Proposed Tax Levy. The City Council has the ability to adopt a final tax
levy in December that is equal to or less than the preliminary tax levy approved on
September 19, 2016. The City Council may not, however, adopt a final tax levy that is greater
than the preliminary tax levy.
• Adjustments to the Proposed Budgets. The budgets reflect the proposed revenues and
expenditures as discussed during City Council budget and Capital Improvement Program
(CIP) work sessions.
Supporting Information
• Resolution adopting the 2017 Tax Levy
• Resolution adopting the 2017 Budget
• Budget Overview
Financial Impact: $ Budgeted: Y☒ N☐ Source:
Related Documents: (CIP, ERP, etc.):
Envision Lakeville Community Values: Good Value for Public Services
Report Completed by: Jerilyn Erickson, Finance Director
26,679,614 Various Funds
Proposed 2017 Budget
CITY OF LAKEVILLE
RESOLUTION NO. ________
RESOLUTION ADOPTING THE 2017 PROPERTY TAX LEVY
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
following 2017 property tax levy is hereby approved and adopted.
TOTAL
Debt
Street improvements 4,014,566
Police Station 563,806
Central Maintenance Facility 937,942
Ice Arena 293,550
Total Debt Levy 5,809,864
General Fund 18,842,000
Pavement Management Fund 1,191,550
Street Reconstruction Fund 50,000
Equipment Fund 350,000
Building Fund 150,000
Park Improvement Fund 175,000
Trail Improvement Fund 111,200
Total tax levy 26,679,614$
Purpose
ADOPTED by the Lakeville City Council this 5th day of December, 2016
CITY OF LAKEVILLE, MINNESOTA
By: ________________________________
Matt Little, Mayor
ATTEST:
________________________________
Charlene Friedges, City Clerk
Schedule A – Debt Service
Bond Description Debt Schedule Certified Levy
(A)(B)
Ice Arena Lease Revenue Bonds 2006 663,938$ -$
HRA Lease Revenue Bonds 2016A 293,561 293,550
Capital Improvement Bonds 2007D 1,134,118 -
Improvement Bonds 2007F 55,204 -
Improvement Bonds 2008A (246) -
Improvement Refunding Bonds 2009B 400,155 228,415
Improvement Bonds 2010A 295,000 -
Improvement Bonds 2011A 151,513 131,513
Improvement Bonds 2012A 725,629 466,812
Improvement Bonds 2013A 488,512 310,276
Improvement Bonds 2014A 978,521 431,425
Improvement Bonds 2015A 677,285 362,061
Improvement Bonds 2016B 543,484 367,604
Street Reconstruction Bonds 2007H 231,257 214,007
Street Reconstruction Bonds 2009A 429,951 341,156
Refunding Bonds 2011B 85,005 -
Refunding Bonds 2012B 2,035,635 1,908,398
Refunding Bonds 2014B 1,239,646 754,647
Debt Service Total 10,428,168$ 5,809,864$
The following is a schedule of all debt which,at the time of issuance,included a
certification of future property tax levy.The following schedule -column B -provides a
list of debt listing actual tax levies for taxes payable 2017.The difference between
certification and actual is due to changes in funding sources such as interest on
investments,Liquor Fund contributions,special assessments,General Fund (operating
levies) and other contributing factors.
CITY OF LAKEVILLE
RESOLUTION NO. ________
RESOLUTION ADOPTING THE 2017 BUDGET
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the
following 2017 budget, a copy of which is on file in the Finance Director’s office, is
hereby approved and adopted.
ADOPTED by the Lakeville City Council this 5th day of December 2016
CITY OF LAKEVILLE, MINNESOTA
By: _________________________________
Matt Little, Mayor
ATTEST:
________________________________
Charlene Friedges, City Clerk
Enterprise Debt/Capital
Fund/Department Revenues Expenditures Bond Proceeds Acquisitions
General Fund 25,318,822$ 26,434,999$
General Fund - Transfers 782,655 1,145,000
Total General Fund 26,101,477 27,579,999
Special Revenue Funds
Communications 741,440 744,571
Economic Development 2,705 12,500
Debt Service Funds 11,041,436 29,913,778
Capital Projects Funds
Municipal state-aid 1,075,990 2,168,964
Pavement Management 1,316,950 1,529,673
Improvement Construction 9,682,981 9,682,981
Building 365,092 667,192
Equipment 1,682,306 2,121,796
Park Dedication 1,334,229 2,278,000
Park Improvement 175,000 235,000
Trail Improvement 113,400 350,284
Storm Sewer 1,084,081 1,739,632
Water 1,715,693 1,813,575
Sanitary Sewer 308,600 148,875
Tax Increment 53,761 51,046
Internal Service - Municipal
Reserves Fund 374,158 554,397
Enterprise - Liquor Fund 14,057,046 13,766,978 395,000
Enterprise - Utility Fund 13,734,163 16,294,819 1,494,952 840,189
Grand Total 84,960,508$ 111,654,060$ 1,494,952$ 1,235,189$
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Revenues
General property taxes 24,815,129$ 25,679,362$ 25,684,074$ 26,671,171$
Tax increment 404,082 349,000 456,561 456,561
Licenses and permits 3,387,001 2,611,474 3,448,488 2,940,379
Intergovernmental 5,318,371 6,862,888 7,949,640 2,516,696
Charges for services 22,120,595 18,204,910 21,844,835 19,305,494
Court fines 369,356 315,000 466,000 466,000
Special assessments 1,736,905 1,050,496 1,122,282 1,436,159
Investment income 420,692 336,818 391,657 409,172
Donations 9,789,826 1,415,224 1,421,419 1,205,000
Miscellaneous 850,402 2,774,154 3,056,725 933,061
Gross profit 3,289,119 3,385,006 3,429,586 3,439,986
Total revenues 72,501,478 62,984,332 69,271,267 59,779,679
Expenditures and expenses
General government 5,196,423 5,625,317 5,785,669 5,927,626
Public safety 10,892,071 11,706,573 11,504,261 12,282,014
Public works 3,858,297 4,818,999 4,397,964 4,918,872
Parks and recreation 3,532,376 3,719,420 3,516,277 3,800,415
Debt service 11,297,639 10,110,133 10,061,229 11,841,036
Capital outlay 31,648,313 34,039,403 38,608,860 20,882,657
Operating expenses 14,721,847 24,630,127 24,097,549 17,992,592
Total expenditures and expenses 81,146,966 94,649,972 97,971,809 77,645,212
Other financing sources (uses)
Transfer from other funds 6,904,491 3,869,883 5,104,534 4,948,032
Transfer to other funds (6,904,491) (3,869,883) (5,104,534) (4,948,032)
Disposal of assets (115,951) 119,000 129,500 34,000
Issuance of debt 16,545,000 26,337,574 25,906,522 9,592,981
Refunding bonds issued - - 6,758,102 -
Payment on refunded bonds called (12,460,000) (1,950,000) (1,950,000) (18,455,000)
Premium on bonds issued 1,005,509 - - -
Total other financing sources (uses)4,974,558 24,506,574 30,844,124 (8,828,019)
Net change in fund balance and net position (3,670,930) (7,159,066) 2,143,582 (26,693,552)
Fund balance and net position, January 1 191,775,693 166,031,206 188,104,763 190,248,345
Fund balance and net position, December 31 188,104,763$ 158,872,140$ 190,248,345$ 163,554,793$
Enterprise capital outlay acquisitions 692,165$ 1,191,589$ 1,147,781$ 1,045,189$
Enterprise bond proceeds -$ 7,473,720$ 6,570,000$ 1,494,952$
Enterprise debt principal 180,000$ 190,000$ 180,000$ 190,000$
CITY OF LAKEVILLE, MINNESOTA
Budgetary Summary for All Appropriated Fund Types
Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances and Net Assets
For the Year Ending December 31, 2017
Ge
n
e
r
a
l
S
p
e
c
i
a
l
D
e
b
t
C
a
p
i
t
a
l
In
t
e
r
n
a
l
S
e
r
v
i
c
e
Fu
n
d
Re
v
e
n
u
e
Se
r
v
i
c
e
Pr
o
j
e
c
t
s
Li
q
u
o
r
Ut
i
l
i
t
y
Mu
n
i
c
i
p
a
l
R
e
s
.
Total
Re
v
e
n
u
e
s
Ge
n
e
r
a
l
p
r
o
p
e
r
t
y
t
a
x
e
s
18
,
8
3
3
,
5
5
7
$
-
$
5
,
8
0
9
,
8
6
4
$
2,
0
2
7
,
7
5
0
$
-
$
-
$
-
$
2
6
,
6
7
1
,
1
7
1
$
Ta
x
i
n
c
r
e
m
e
n
t
-
-
4
0
4
,
0
0
0
52
,
5
6
1
-
-
-
4
5
6
,
5
6
1
Li
c
e
n
s
e
s
a
n
d
p
e
r
m
i
t
s
2,
2
0
2
,
9
5
2
73
7
,
4
2
7
-
-
-
-
-
2
,
9
4
0
,
3
7
9
In
t
e
r
g
o
v
e
r
n
m
e
n
t
a
l
1,
0
2
1
,
6
8
5
51
6
1
,
2
4
2
,
3
3
1
12
0
,
0
0
0
3,
9
0
0
12
8
,
2
6
4
-
2
,
5
1
6
,
6
9
6
Ch
a
r
g
e
s
f
o
r
s
e
r
v
i
c
e
s
2,
6
6
6
,
6
9
7
2,
5
0
0
38
2
,
1
7
6
3,
9
0
9
,
5
4
9
-
1
1
,
9
7
3
,
7
7
3
37
0
,
7
9
9
19,305,494
Co
u
r
t
f
i
n
e
s
46
6
,
0
0
0
-
-
-
-
-
-
4
6
6
,
0
0
0
Sp
e
c
i
a
l
a
s
s
e
s
s
m
e
n
t
s
-
-
1
,
4
0
3
,
8
8
8
32
,
2
7
1
-
-
-
1
,
4
3
6
,
1
5
9
In
v
e
s
t
m
e
n
t
i
n
c
o
m
e
90
,
0
7
1
3,
7
0
2
94
,
4
4
8
17
6
,
8
7
0
3,
7
4
4
36
,
9
7
8
3,
3
5
9
409,172
Do
n
a
t
i
o
n
s
-
-
9
5
,
0
0
0
10
,
0
0
0
-
1
,
1
0
0
,
0
0
0
-
1
,
2
0
5
,
0
0
0
Mi
s
c
e
l
l
a
n
e
o
u
s
37
,
8
6
0
-
-
8
9
1
,
6
0
1
3,
6
0
0
-
-
9
3
3
,
0
6
1
Gr
o
s
s
p
r
o
f
i
t
-
-
-
-
3
,
4
3
9
,
9
8
6
-
-
3,439,986
To
t
a
l
r
e
v
e
n
u
e
s
25
,
3
1
8
,
8
2
2
7
4
4
,
1
4
5
9
,
4
3
1
,
7
0
7
7
,
2
2
0
,
6
0
2
3
,
4
5
1
,
2
3
0
1
3
,
2
3
9
,
0
1
5
3
7
4
,
1
5
8
59,779,679
Ex
p
e
n
d
i
t
u
r
e
s
a
n
d
e
x
p
e
n
s
e
s
Ge
n
e
r
a
l
g
o
v
e
r
n
m
e
n
t
5,
3
9
3
,
5
6
3
53
4
,
0
6
3
-
-
-
-
-
5
,
9
2
7
,
6
2
6
Pu
b
l
i
c
s
a
f
e
t
y
12
,
2
8
2
,
0
1
4
-
-
-
-
-
-
1
2
,
2
8
2
,
0
1
4
Pu
b
l
i
c
w
o
r
k
s
4,
9
1
8
,
8
7
2
-
-
-
-
-
-
4
,
9
1
8
,
8
7
2
Pa
r
k
s
a
n
d
r
e
c
r
e
a
t
i
o
n
3,
8
0
0
,
4
1
5
-
-
-
-
-
-
3
,
8
0
0
,
4
1
5
De
b
t
s
e
r
v
i
c
e
-
-
1
1
,
4
5
8
,
7
7
8
-
1
2
5
,
9
5
9
25
6
,
2
9
9
-
1
1
,
8
4
1
,
0
3
6
Ca
p
i
t
a
l
o
u
t
l
a
y
40
,
1
3
5
10
7
,
5
7
9
-
2
0
,
7
3
4
,
9
4
3
-
-
-
2
0
,
8
8
2
,
6
5
7
Op
e
r
a
t
i
n
g
e
x
p
e
n
s
e
s
-
-
-
-
2
,
4
8
7
,
7
4
9
1
5
,
0
0
3
,
5
0
3
5
0
1
,
3
4
0
17,992,592
To
t
a
l
e
x
p
e
n
d
i
t
u
r
e
s
a
n
d
e
x
p
e
n
s
e
s
26
,
4
3
4
,
9
9
9
6
4
1
,
6
4
2
1
1
,
4
5
8
,
7
7
8
2
0
,
7
3
4
,
9
4
3
2
,
6
1
3
,
7
0
8
1
5
,
2
5
9
,
8
0
2
5
0
1
,
3
4
0
77,645,212
Ot
h
e
r
f
i
n
a
n
c
i
n
g
s
o
u
r
c
e
s
(
u
s
e
s
)
Tr
a
n
s
f
e
r
f
r
o
m
o
t
h
e
r
f
u
n
d
s
78
2
,
6
5
5
-
1
,
6
0
9
,
7
2
9
2,
0
9
4
,
5
0
0
-
4
6
1
,
1
4
8
-
4
,
9
4
8
,
0
3
2
Tr
a
n
s
f
e
r
t
o
o
t
h
e
r
f
u
n
d
s
(1
,
1
4
5
,
0
0
0
)
(1
1
5
,
4
2
9
)
-
(
2
,
0
5
2
,
0
7
5
)
(5
4
7
,
4
5
4
)
(1
,
0
3
5
,
0
1
7
)
(5
3
,
0
5
7
)
(4,948,032)
Di
s
p
o
s
a
l
o
f
a
s
s
e
t
s
-
-
-
-
-
3
4
,
0
0
0
-
3
4
,
0
0
0
Is
s
u
a
n
c
e
o
f
d
e
b
t
-
-
-
9
,
5
9
2
,
9
8
1
-
-
-
9
,
5
9
2
,
9
8
1
Pa
y
m
e
n
t
o
n
r
e
f
u
n
d
e
d
b
o
n
d
s
c
a
l
l
e
d
-
-
(
1
8
,
4
5
5
,
0
0
0
)
-
-
-
-
(18,455,000)
To
t
a
l
o
t
h
e
r
f
i
n
a
n
c
i
n
g
s
o
u
r
c
e
s
(
u
s
e
s
)
(3
6
2
,
3
4
5
)
(
1
1
5
,
4
2
9
)
(
1
6
,
8
4
5
,
2
7
1
)
9
,
6
3
5
,
4
0
6
(
5
4
7
,
4
5
4
)
(
5
3
9
,
8
6
9
)
(
5
3
,
0
5
7
)
(8,828,019)
Ne
t
c
h
a
n
g
e
i
n
f
u
n
d
b
a
l
a
n
c
e
a
n
d
n
e
t
a
s
s
e
t
s
(
1
,
4
7
8
,
5
2
2
)
(
1
2
,
9
2
6
)
(
1
8
,
8
7
2
,
3
4
2
)
(
3
,
8
7
8
,
9
3
5
)
2
9
0
,
0
6
8
(
2
,
5
6
0
,
6
5
6
)
(
1
8
0
,
2
3
9
)
(
2
6
,
6
9
3
,
5
5
2
)
Fu
n
d
b
a
l
a
n
c
e
a
n
d
n
e
t
a
s
s
e
t
s
,
J
a
n
u
a
r
y
1
14
,
1
2
1
,
7
8
4
3
2
6
,
4
6
3
3
1
,
5
4
0
,
0
9
1
2
9
,
1
9
7
,
0
7
9
4
,
0
1
6
,
9
0
5
1
1
0
,
3
7
4
,
2
4
1
6
7
1
,
7
8
2
190,248,345
Fu
n
d
b
a
l
a
n
c
e
a
n
d
n
e
t
a
s
s
e
t
s
,
D
e
c
e
m
b
e
r
3
1
12
,
6
4
3
,
2
6
2
$
3
1
3
,
5
3
7
$
1
2
,
6
6
7
,
7
4
9
$
2
5
,
3
1
8
,
1
4
4
$
4
,
3
0
6
,
9
7
3
$
1
0
7
,
8
1
3
,
5
8
5
$
4
9
1
,
5
4
3
$
163,554,793 $
En
t
e
r
p
r
i
s
e
c
a
p
i
t
a
l
o
u
t
l
a
y
a
c
q
u
i
s
i
t
i
o
n
s
-
$
-
$
-
$
-
$
2
0
5
,
0
0
0
$
8
4
0
,
1
8
9
$
-
$
1,045,189 $
En
t
e
r
p
r
i
s
e
b
o
n
d
p
r
o
c
e
e
d
s
-
$
-
$
-
$
-
$
-
$
1
,
4
9
4
,
9
5
2
$
-
$
1,494,952 $
En
t
e
r
p
r
i
s
e
d
e
b
t
p
r
i
n
c
i
p
a
l
-
$
-
$
-
$
-
$
1
9
0
,
0
0
0
$
-
$
-
$
190,000 $
En
t
e
r
p
r
i
s
e
Go
v
e
r
n
m
e
n
t
a
l
F
u
n
d
s
Pr
o
p
r
i
e
t
a
r
y
F
u
n
d
s
CI
T
Y
O
F
L
A
K
E
V
I
L
L
E
,
M
I
N
N
E
S
O
T
A
Bu
d
g
e
t
a
r
y
S
u
m
m
a
r
y
f
o
r
A
p
p
r
o
p
r
i
a
t
e
d
F
u
n
d
T
y
p
e
s
Co
m
b
i
n
i
n
g
S
c
h
e
d
u
l
e
o
f
R
e
v
e
n
u
e
s
,
E
x
p
e
n
d
i
t
u
r
e
s
,
a
n
d
C
h
a
n
g
e
s
i
n
F
u
n
d
B
a
l
a
n
c
e
s
a
n
d
N
e
t
A
s
s
e
t
s
Fo
r
t
h
e
Y
e
a
r
E
n
d
i
n
g
D
e
c
e
m
b
e
r
3
1
,
2
0
1
7
20
1
7
P
r
o
p
o
s
e
d
B
u
d
g
e
t
2016 2017
2014 2015 Adopted 2016 Proposed
Actual Actual Budget Estimate Budget
Revenues (Amount) (Percent) (Amount) (Percent)
General property taxes 16,844,083$ 17,857,368$ 18,553,538$ 18,558,250$ 18,833,557$ 280,019 $ 1.5% 275,307 $ 1.5%
Licenses and permits 2,159,364 2,655,873 1,855,528 2,714,492 2,202,952 347,424 18.7% (511,540) -18.8%
Intergovernmental 809,596 978,596 988,816 996,652 1,021,685 32,869 3.3% 25,033 2.5%
Charges for services 2,499,340 3,388,546 3,149,629 3,421,571 2,666,697 (482,932) -15.3% (754,874) -22.1%
Court fines 223,642 369,356 315,000 466,000 466,000 151,000 47.9% - 0.0%
Investment income 99,179 55,883 40,376 40,000 90,071 49,695 123.1% 50,071 125.2%
Miscellaneous 71,484 67,495 41,645 38,145 37,860 (3,785) -9.1%(285) -0.7%
Total revenues 22,706,688 25,373,117 24,944,532 26,235,110 25,318,822 374,290 1.5%(916,288) -3.5%
Expenditures -
General government
Mayor and Council 93,122 95,965 99,866 98,983 101,090 1,224 1.2% 2,107 2.1%
Committees and Commissions 70,622 73,175 71,284 84,840 75,660 4,376 6.1% (9,180) -10.8%
City administration 386,351 393,910 413,336 425,602 423,147 9,811 2.4% (2,455) -0.6%
City Clerk 183,285 139,779 195,441 193,826 139,774 (55,667) -28.5% (54,052) -27.9%
Legal counsel 53,495 68,990 78,178 55,340 57,000 (21,178) -27.1% 1,660 3.0%
Planning 418,192 427,404 458,036 465,616 564,262 106,226 23.2% 98,646 21.2%
Community and econ. development 272,594 288,720 297,952 304,927 358,272 60,320 20.2% 53,345 17.5%
Inspections 893,563 943,737 1,000,761 1,110,440 1,061,584 60,823 6.1% (48,856) -4.4%
General government facilities 392,356 396,713 427,117 482,236 529,611 102,494 24.0% 47,375 9.8%
Finance 639,522 684,386 718,826 690,181 759,615 40,789 5.7% 69,434 10.1%
Information systems 472,685 537,181 543,979 601,749 620,742 76,763 14.1% 18,993 3.2%
Human resources 344,028 433,294 490,511 528,370 520,626 30,115 6.1% (7,744) -1.5%
Insurance 289,075 322,100 182,180 182,180 182,180 - 0.0% - 0.0%
Public safety - 0%
Police 8,790,329 9,310,676 9,693,385 9,805,833 10,493,244 799,859 8.3% 687,411 7.0%
Fire 1,519,138 1,649,260 1,753,089 1,722,947 1,788,770 35,681 2.0% 65,823 3.8%
Public works - 0%
Engineering 715,285 659,432 785,343 735,030 1,005,397 220,054 28.0% 270,367 36.8%
Operations and Maintenance 144,811 531,754 652,545 489,201 664,477 11,932 1.8% 175,276 35.8%
Streets 3,040,942 2,753,580 3,321,247 3,187,886 3,276,483 (44,764) -1.3% 88,597 2.8%
Parks and recreation - 0%
Parks 2,212,461 2,362,566 2,442,197 2,319,631 2,541,925 99,728 4.1% 222,294 9.6%
Recreation 602,430 635,489 622,974 629,951 672,981 50,007 8.0% 43,030 6.8%
Heritage Center 101,236 85,516 98,770 85,399 95,822 (2,948) -3.0% 10,423 12.2%
Arts Center 425,771 474,266 479,173 499,599 502,337 23,164 4.8% 2,738 0.5%
Other - - 562,501 - - (562,501) -100.0%- 0%
Total expenditures 22,061,293 23,267,893 25,388,691 24,699,767 26,434,999 1,046,308 4.1%1,735,232 7.0%
Excess (deficiency) of revenues
over expenditures 645,395 2,105,224 (444,159) 1,535,343 (1,116,177) (672,018) 151.3%(2,651,520) -172.7%
Other financing sources (uses)
Transfer from other funds 759,814 809,935 806,513 806,513 782,655 (23,858) -3.0% (23,858) -3.0%
Transfer to other funds - (1,612,000) (50,000) (595,000) (1,145,000) (1,095,000) 2190.0%(550,000) 92.4%
Total other financing sources (uses) 759,814 (802,065) 756,513 211,513 (362,345) (1,118,858) -147.9%(573,858) -271.3%
Net change in fund balance 1,405,209 1,303,159 312,354 1,746,856 (1,478,522) (1,790,876) -573.3% (3,225,378) -184.6%
Fund balance, January 1 9,666,560 11,071,769 11,406,277 12,374,928 14,121,784 2,715,507 23.8%1,746,856 14.1%
Fund balance, December 31 11,071,769$ 12,374,928$ 11,718,631$ 14,121,784$ 12,643,262$ 924,631$ 7.9%(1,478,522) -10.5%
Ratio: Fund balance to CY expenditures 50.2%53.2%46.2%57.2%47.8%
Ratio: Fund balance to NY expenditures 43.6%50.1%44.8%53.4%46.4%
Change from
2016
Estimate
CITY OF LAKEVILLE, MINNESOTA
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances
For the Year Ending December 31, 2017
Change from
2016 Adopted
Budget
12/2/2016
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Revenues
Licenses 731,128 $ 755,946 $ 733,996 $ 737,427 $
Intergovernmental 3,814 516 516 516
Charges for services 2,500 2,500 2,500 2,500
Investment income 3,192 4,395 4,436 3,702
Miscellaneous 2,125 - 25,000 -
Total revenues 742,759 763,357 766,448 744,145
Expenditures
General government 444,680 553,164 569,777 534,063
Capital outlay 85,387 48,262 47,552 107,579
Total expenditures 530,067 601,426 617,329 641,642
Excess (deficiency) of revenues
over expenditures 212,692 161,931 149,119 102,503
Other financing sources (uses)
Transfer to other funds (647,933) (384,978) (384,978) (115,429)
Net change in fund balance (435,241) (223,047) (235,859) (12,926)
Fund balance, January 1 997,563 543,133 562,322 326,463
Fund balance, December 31 562,322 $ 320,086$ 326,463$ 313,537$
CITY OF LAKEVILLE, MINNESOTA
Budgetary Summary for All Special Revenue Funds
Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ending December 31, 2017
Economic
Communications Development Total
Revenues
Licenses 737,427$ - $ 737,427 $
Intergovernmental 516 - 516
Charges for services - 2,500 2,500
Investment income 3,497 205 3,702
Total revenues 741,440 2,705 744,145
Expenditures
General government 521,563 12,500 534,063
Capital outlay 107,579 - 107,579
Total expenditures 629,142 12,500 641,642
Excess (deficiency) of revenues
over expenditures 112,298 (9,795) 102,503
Other financing sources (uses)
Transfer to other funds (115,429) - (115,429)
Net change in fund balance (3,131) (9,795) (12,926)
Fund balance, January 1 285,483 40,980 326,463
Fund balance, December 31 282,352$ 31,185$ 313,537$
2017 Proposed Budget
CITY OF LAKEVILLE, MINNESOTA
Budgetary Summary for Special Revenue Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ending December 31, 2017
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Revenues
General property taxes 5,289,534$ 5,455,074$ 5,455,074$ 5,809,864$
Tax increment 404,082 349,000 404,000 404,000
Intergovernmental 907,391 1,075,739 1,075,364 1,242,331
Charges for services 403,132 403,132 403,132 382,176
Special assessments 1,303,619 1,017,213 1,088,999 1,403,888
Investment income 146,532 133,324 138,801 94,448
Donations 95,000 95,000 95,000 95,000
Miscellaneous - - 880 -
Total revenues 8,549,290 8,528,482 8,661,250 9,431,707
Expenditures - debt service
Principal maturities 7,385,000 5,935,000 5,935,000 7,200,000
Interest on debt 3,735,120 4,014,265 3,970,203 4,237,203
Fiscal charges 33,070 25,451 20,609 21,575
Total expenditures 11,153,190 9,974,716 9,925,812 11,458,778
Excess (deficiency) of revenues
over expenditures (2,603,900) (1,446,234) (1,264,562) (2,027,071)
Other financing sources (uses)
Transfer from other funds 2,584,021 973,893 926,225 1,609,729
Transfer to other funds - (607,500) (607,500) -
Issuance of debt 144,398 - 278,505 -
Refunding bonds issued - - 6,758,102 -
Payment on refunded bonds called (12,460,000) (1,950,000) (1,950,000) (18,455,000)
Total other financing sources (uses)(9,731,581) (1,583,607) 5,405,332 (16,845,271)
Net change in fund balance (12,335,481) (3,029,841) 4,140,770 (18,872,342)
Fund balance, January 1 39,734,802 26,947,672 27,399,321 31,540,091
Fund balance, December 31 27,399,321$ 23,917,831$ 31,540,091$ 12,667,749$
CITY OF LAKEVILLE, MINNESOTA
Budgetary Summary for All Debt Service Funds
Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ending December 31, 2017
General G.O. Tax Water Arena HRA Lease
Obligation Improvement Increment State-aid Revenue Revenue Revenue Total
Revenues
General property taxes 3,218,208$ 2,298,106$ -$ -$ -$ -$ 293,550$ 5,809,864$
Tax increment - - 404,000 - - - 404,000
Intergovernmental 61,249 - - 1,181,082 - - - 1,242,331
Charges for services - - - - - 88,626 293,550 382,176
Special assessments 15,857 1,388,031 - - - - - 1,403,888
Investment income 48,127 34,050 8,076 169 - 416 3,610 94,448
Donations - - - - - 95,000 - 95,000
Total revenues 3,343,441 3,720,187 412,076 1,181,251 - 184,042 590,710 9,431,707
Expenditures - debt service
Principal maturities 2,195,000 2,715,000 220,000 940,000 340,000 155,000 635,000 7,200,000
Interest on debt 1,717,328 1,538,733 55,161 241,082 284,200 26,305 374,394 4,237,203
Fiscal charges 1,744 14,613 1,115 1,350 375 178 2,200 21,575
Total expenditures 3,914,072 4,268,346 276,276 1,182,432 624,575 181,483 1,011,594 11,458,778
Excess (deficiency) of revenues
over expenditures (570,631) (548,159) 135,800 (1,181) (624,575) 2,559 (420,884) (2,027,071)
Other financing sources (uses)
Transfer from other funds 346,360 638,794 - - 624,575 - - 1,609,729
Payment on refunded bonds called (11,185,000) - - - - - (7,270,000) (18,455,000)
Total other financing sources (uses)(10,838,640) 638,794 - - 624,575 - (7,270,000) (16,845,271)
Net change in fund balance (11,409,271) 90,635 135,800 (1,181) - 2,559 (7,690,884) (18,872,342)
Fund balance, January 1 14,861,151 5,715,491 2,950,905 22,490 (0) 131,803 7,858,251 31,540,091
Fund balance, December 31 3,451,880$ 5,806,126$ 3,086,705$ 21,309$ (0)$ 134,362$ 167,366$ 12,667,749$
2017 Proposed Budget
CITY OF LAKEVILLE, MINNESOTA
Budgetary Summary for Debt Service Funds
Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ending December 31, 2017
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Revenues
General property taxes 1,668,227$ 1,670,750$ 1,670,750$ 2,027,750$
Tax increment - - 52,561 52,561
Intergovernmental 3,338,916 4,713,361 5,724,944 120,000
Charges for services 8,566,920 3,898,084 7,284,477 3,909,549
Special assessments 433,286 33,283 33,283 32,271
Investment income 160,946 95,247 147,547 176,870
Donations 230,954 247,000 226,419 10,000
Miscellaneous 732,305 2,728,909 2,989,100 891,601
Total revenues 15,131,554 13,386,634 18,129,081 7,220,602
Expenditures - Capital outlay
General government 724,922 927,451 1,791,281 679,685
Public safety
Police 409,023 240,021 493,143 283,433
Fire 660,028 761,834 1,212,149 340,043
Public works 26,668,402 28,333,488 32,156,740 15,949,156
Parks and recreation 2,867,145 3,656,801 2,842,622 3,482,626
Total expenditures 31,329,520 33,919,595 38,495,935 20,734,943
Excess (deficiency) of revenues
over expenditures (16,197,966) (20,532,961) (20,366,854) (13,514,341)
Other financing sources (uses)
Transfer from other funds 3,489,923 2,068,250 3,305,569 2,094,500
Transfer to other funds (2,669,018) (803,750) (1,493,401) (2,052,075)
Issuance of debt 16,400,602 26,337,574 25,628,017 9,592,981
Premium on bonds issued 1,005,509 - - -
Total other financing sources (uses)18,227,016 27,602,074 27,440,185 9,635,406
Net change in fund balance 2,029,050 7,069,113 7,073,331 (3,878,935)
Fund balance, January 1 20,094,698 12,624,445 22,123,748 29,197,079
Fund balance, December 31 22,123,748$ 19,693,558$ 29,197,079$ 25,318,144$
CITY OF LAKEVILLE, MINNESOTA
Combined Schedule of Revenues, Expenditures, and Changes in Fund Balances
For the Year Ending December 31, 2017
Budgetary Summary for All Capital Projects Funds
Mu
n
i
c
i
p
a
l
P
a
v
e
m
e
n
t
I
m
p
r
o
v
e
m
e
n
t
S
t
o
r
m
Sa
n
i
t
a
r
y
P
a
r
k
P
a
r
k
T
r
a
i
l
T
a
x
Ta
x
St
a
t
e
-
a
i
d
Ma
n
a
g
e
m
e
n
t
Co
n
s
t
r
u
c
t
i
o
n
Se
w
e
r
Wa
t
e
r
Se
w
e
r
De
d
i
c
a
t
i
o
n
Im
p
r
o
v
e
m
e
n
t
Im
p
r
o
v
e
m
e
n
t
Ab
a
t
e
m
e
n
t
In
c
r
e
m
e
n
t
Bu
i
l
d
i
n
g
Equipment Total
Re
v
e
n
u
e
s
Ge
n
e
r
a
l
p
r
o
p
e
r
t
y
t
a
x
e
s
-
$
1
,
1
9
1
,
5
5
0
$
50
,
0
0
0
$
-
$
-
$
-
$
-
$
1
7
5
,
0
0
0
$
11
1
,
2
0
0
$
-
$
-
$
1
5
0
,
0
0
0
$
350,000 $ 2,027,750 $
Ta
x
i
n
c
r
e
m
e
n
t
-
-
-
-
-
-
-
-
-
-
5
2
,
5
6
1
-
- 52,561
In
t
e
r
g
o
v
e
r
n
m
e
n
t
a
l
-
1
2
0
,
0
0
0
-
-
-
-
-
-
-
-
-
-
- 120,000
Ch
a
r
g
e
s
f
o
r
s
e
r
v
i
c
e
s
-
-
-
1
,
0
5
2
,
2
6
4
1,
3
2
0
,
2
0
0
26
7
,
3
0
0
1,
2
6
9
,
7
8
5
-
-
-
-
-
- 3,909,549
Sp
e
c
i
a
l
a
s
s
e
s
s
m
e
n
t
s
-
-
-
21
7
17
,
0
0
0
15
,
0
0
0
54
-
-
-
-
-
- 32,271
In
v
e
s
t
m
e
n
t
i
n
c
o
m
e
20
,
7
0
0
5,
4
0
0
-
3
1
,
6
0
0
18
,
5
0
0
26
,
3
0
0
22
,
3
0
0
-
2
,
2
0
0
-
1
,
2
0
0
15,092
33,578 176,870
Do
n
a
t
i
o
n
s
-
-
-
-
-
-
1
0
,
0
0
0
-
-
-
-
-
- 10,000
Mi
s
c
e
l
l
a
n
e
o
u
s
27
6
,
7
9
0
-
-
-
3
5
9
,
9
9
3
-
3
2
,
0
9
0
-
-
-
-
-
222,728 891,601
To
t
a
l
r
e
v
e
n
u
e
s
29
7
,
4
9
0
1
,
3
1
6
,
9
5
0
5
0
,
0
0
0
1
,
0
8
4
,
0
8
1
1
,
7
1
5
,
6
9
3
3
0
8
,
6
0
0
1
,
3
3
4
,
2
2
9
1
7
5
,
0
0
0
1
1
3
,
4
0
0
-
5
3
,
7
6
1
1
6
5
,
0
9
2
606,306 7,220,602
Ex
p
e
n
d
i
t
u
r
e
s
-
C
a
p
i
t
a
l
o
u
t
l
a
y
Ge
n
e
r
a
l
g
o
v
e
r
n
m
e
n
t
-
-
-
-
-
-
-
-
-
-
-
1
9
0
,
0
0
0
489,685 679,685
Pu
b
l
i
c
s
a
f
e
t
y
Po
l
i
c
e
-
-
-
-
-
-
-
-
-
-
-
4
1
,
5
0
0
241,933 283,433
Fi
r
e
-
-
-
-
-
-
-
-
-
-
-
2
9
,
2
0
0
310,843 340,043
Pu
b
l
i
c
w
o
r
k
s
2,
1
6
8
,
9
6
4
1,
4
2
9
,
6
7
3
9,
6
8
2
,
9
8
1
52
6
,
1
3
2
1,
0
7
5
,
0
0
0
14
8
,
8
7
5
-
-
-
-
-
1
0
0
,
7
0
0
816,831 15,949,156
Pa
r
k
s
a
n
d
r
e
c
r
e
a
t
i
o
n
-
-
-
-
-
-
2
,
2
7
8
,
0
0
0
2
3
5
,
0
0
0
3
5
0
,
2
8
4
-
5
1
,
0
4
6
3
0
5
,
7
9
2
262,504 3,482,626
To
t
a
l
e
x
p
e
n
d
i
t
u
r
e
s
2,
1
6
8
,
9
6
4
1
,
4
2
9
,
6
7
3
9
,
6
8
2
,
9
8
1
5
2
6
,
1
3
2
1
,
0
7
5
,
0
0
0
1
4
8
,
8
7
5
2
,
2
7
8
,
0
0
0
2
3
5
,
0
0
0
3
5
0
,
2
8
4
-
5
1
,
0
4
6
6
6
7
,
1
9
2
2,121,796 20,734,943
Ex
c
e
s
s
(
d
e
f
i
c
i
e
n
c
y
)
o
f
r
e
v
e
n
u
e
s
ov
e
r
e
x
p
e
n
d
i
t
u
r
e
s
(1
,
8
7
1
,
4
7
4
)
(
1
1
2
,
7
2
3
)
(
9
,
6
3
2
,
9
8
1
)
5
5
7
,
9
4
9
6
4
0
,
6
9
3
1
5
9
,
7
2
5
(
9
4
3
,
7
7
1
)
(
6
0
,
0
0
0
)
(
2
3
6
,
8
8
4
)
-
2
,
7
1
5
(
5
0
2
,
1
0
0
)
(1,515,490) (13,514,341)
Ot
h
e
r
f
i
n
a
n
c
i
n
g
s
o
u
r
c
e
s
(
u
s
e
s
)
Tr
a
n
s
f
e
r
f
r
o
m
o
t
h
e
r
f
u
n
d
s
77
8
,
5
0
0
-
4
0
,
0
0
0
-
-
-
-
-
-
-
-
2
0
0
,
0
0
0
1,076,000 2,094,500
Tr
a
n
s
f
e
r
t
o
o
t
h
e
r
f
u
n
d
s
-
(
1
0
0
,
0
0
0
)
-
(
1
,
2
1
3
,
5
0
0
)
(7
3
8
,
5
7
5
)
-
-
-
-
-
-
-
- (2,052,075)
Is
s
u
a
n
c
e
o
f
d
e
b
t
-
-
9
,
5
9
2
,
9
8
1
-
-
-
-
-
-
-
-
-
- 9,592,981
To
t
a
l
o
t
h
e
r
f
i
n
a
n
c
i
n
g
s
o
u
r
c
e
s
(
u
s
e
s
)
77
8
,
5
0
0
(
1
0
0
,
0
0
0
)
9
,
6
3
2
,
9
8
1
(
1
,
2
1
3
,
5
0
0
)
(
7
3
8
,
5
7
5
)
-
-
-
-
-
-
2
0
0
,
0
0
0
1,076,000 9,635,406
Ne
t
c
h
a
n
g
e
i
n
f
u
n
d
b
a
l
a
n
c
e
(
1
,
0
9
2
,
9
7
4
)
(
2
1
2
,
7
2
3
)
-
(
6
5
5
,
5
5
1
)
(
9
7
,
8
8
2
)
1
5
9
,
7
2
5
(
9
4
3
,
7
7
1
)
(
6
0
,
0
0
0
)
(
2
3
6
,
8
8
4
)
-
2
,
7
1
5
(
3
0
2
,
1
0
0
)
(
4
3
9
,
4
9
0
)
(3,878,935)
Fu
n
d
b
a
l
a
n
c
e
,
J
a
n
u
a
r
y
1
4,
1
3
3
,
3
7
4
1
,
0
7
5
,
7
0
4
1
,
5
2
9
,
2
2
3
6
,
3
1
9
,
2
6
2
3
,
6
7
3
,
2
9
1
5
,
2
6
6
,
5
3
4
4
,
4
5
8
,
7
7
6
7
5
,
8
9
7
4
4
4
,
8
3
6
(
3
7
8
,
9
1
3
)
1
6
5
,
5
8
5
7
5
4
,
5
8
9
1,678,921 29,197,079
Fu
n
d
b
a
l
a
n
c
e
,
D
e
c
e
m
b
e
r
3
1
3,
0
4
0
,
4
0
0
$
8
6
2
,
9
8
1
$
1
,
5
2
9
,
2
2
3
$
5
,
6
6
3
,
7
1
1
$
3
,
5
7
5
,
4
0
9
$
5
,
4
2
6
,
2
5
9
$
3
,
5
1
5
,
0
0
5
$
1
5
,
8
9
7
$
2
0
7
,
9
5
2
$
(
3
7
8
,
9
1
3
)
$
1
6
8
,
3
0
0
$
4
5
2
,
4
8
9
$
1,239,431 $ 25,318,144 $
CI
T
Y
O
F
L
A
K
E
V
I
L
L
E
,
M
I
N
N
E
S
O
T
A
Bu
d
g
e
t
a
r
y
S
u
m
m
a
r
y
f
o
r
C
a
p
i
t
a
l
P
r
o
j
e
c
t
s
F
u
n
d
s
Co
m
b
i
n
e
d
S
c
h
e
d
u
l
e
o
f
R
e
v
e
n
u
e
s
,
E
x
p
e
n
d
i
t
u
r
e
s
,
a
n
d
C
h
a
n
g
e
s
i
n
F
u
n
d
B
a
l
a
n
c
e
s
Fo
r
t
h
e
Y
e
a
r
E
n
d
i
n
g
D
e
c
e
m
b
e
r
3
1
,
2
0
1
7
20
1
7
P
r
o
p
o
s
e
d
B
u
d
g
e
t
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Sales and cost of sales
Sales 13,611,292$ 13,882,928$ 13,926,781$ 14,045,802$
Cost of sales 10,322,173 10,497,922 10,497,195 10,605,816
Gross profit 3,289,119 3,385,006 3,429,586 3,439,986
Operating expenses
Personnel services 1,308,167 1,358,238 1,360,920 1,443,341
Commodities 54,971 72,276 63,572 70,710
Other charges and services 918,721 846,686 810,188 857,233
Total operating expenses 2,281,859 2,277,200 2,234,680 2,371,284
Operating income 1,007,260 1,107,806 1,194,906 1,068,702
Non-operating revenue (expense)
Intergovernmental 3,900 3,900 3,900 3,900
Investment income (charges)5,104 17,115 5,412 3,744
Miscellaneous 48,477 3,600 3,600 3,600
Disposal of assets (33,381) - - -
Total non-operating (net)24,100 24,615 12,912 11,244
1,031,360 1,132,421 1,207,818 1,079,946
Transfers to other funds (1,397,972) (1,074,937) (1,074,937) (547,454)
Bond expense (144,449) (135,417) (135,417) (125,959)
Depreciation (125,003) (114,761) (116,465) (116,465)
(1,667,424) (1,325,115) (1,326,819) (789,878)
Change in net position (636,064) (192,694) (119,001) 290,068
Net position, January 1 4,771,970 4,967,463 4,135,906 4,016,905
Net position, December 31 4,135,906$ 4,774,769$ 4,016,905$ 4,306,973$
Capital outlay acquisitions 105,299$ 107,915$ 77,510$ 205,000$
Debt - Principal 175,000$ 180,000$ 180,000$ 190,000$
Income before transfers, bond
expense, and depreciation
Total transfers, bond expense and
depreciation
CITY OF LAKEVILLE, MINNESOTA
Schedule of Revenues, Expenses and Changes in Net Position
Enterprise - Liquor Fund
For the Year Ending December 31, 2017
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenues
User charges for services 9,042,640$ 10,227,133$ 10,209,735$ 11,813,285$
Other 173,823 164,003 160,488 160,488
Total operating revenue 9,216,463 10,391,136 10,370,223 11,973,773
Operating expenses
Personnel services 2,007,214 2,176,820 2,098,502 2,237,660
Commodities 365,739 471,177 438,670 470,850
Other charges and services 2,734,445 3,026,084 2,982,427 3,144,924
Disposal charges 3,253,486 3,263,530 3,263,530 3,509,576
Major maintenance 49,071 9,393,270 8,941,657 2,276,019
Total operating expenses 8,409,955 18,330,881 17,724,786 11,639,029
Operating income (expense)806,508 (7,939,745) (7,354,563) 334,744
Non-operating revenue
Intergovernmental 85,754 80,556 148,264 128,264
Investment income 46,872 42,616 51,288 36,978
Disposal of assets (82,570) 119,000 129,500 34,000
Total non-operating revenue 50,056 242,172 329,052 199,242
856,564 (7,697,573) (7,025,511) 533,986
Contributed capital 9,463,872 1,073,224 1,100,000 1,100,000
Transfers from other funds 20,612 21,227 66,227 461,148
Transfers to other funds (527,556) (897,206) (897,206) (1,035,017)
Bond expense - - - (256,299)
Depreciation (3,471,498) (3,416,188) (3,542,995) (3,364,474)
5,485,430 (3,218,943) (3,273,974) (3,094,642)
Change in net position 6,341,994 (10,916,516) (10,299,485) (2,560,656)
Net position, January 1 114,331,732 108,793,305 120,673,726 110,374,241
Net position, December 31 120,673,726$ 97,876,789$ 110,374,241$ 107,813,585
Capital outlay acquisitions 586,866$ 1,083,674$ 1,085,443$ 840,189$
Bond proceeds -$ 7,473,720$ 6,570,000$ 1,494,952$
CITY OF LAKEVILLE, MINNESOTA
For the Year Ending December 31, 2017
Income (loss) before contributions,
transfers, and depreciation
Total contributions, transfers, and
depreciation (net)
Enterprise - Utility Fund
Schedule of Revenues, Expenses and Changes in Net Position
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenues
User charges for services 2,949,084$ 3,526,004$ 3,555,151$ 4,377,242$
Other 173,823 164,003 160,488 160,488
Total operating revenue 3,122,907 3,690,007 3,715,639 4,537,730
Operating expenses
Personnel services 1,027,278 1,066,234 1,023,600 1,090,312
Commodities 261,451 337,082 311,429 348,183
Other charges and services 1,424,016 1,235,537 1,220,651 1,239,664
Major maintenance - 7,446,360 7,136,444 1,731,019
Total operating expenses 2,712,745 10,085,213 9,692,124 4,409,178
Operating income (loss)410,162 (6,395,206) (5,976,485) 128,552
Non-operating revenue
Intergovernmental 4,074 1,632 1,632 1,632
Investment income 22,031 21,424 26,022 18,016
Disposal of assets (82,678) 4,500 4,500 10,000
Total non-operating revenue (56,573) 27,556 32,154 29,648
353,589 (6,367,650) (5,944,331) 158,200
Contributed capital 5,676,823 604,082 600,000 600,000
Bond expense - - - (234,874)
Transfers to other funds (213,336) (548,511) (548,511) (664,038)
Depreciation (2,129,374) (2,160,956) (2,160,956) (2,160,956)
3,334,113 (2,105,385) (2,109,467) (2,459,868)
Change in net position 3,687,702 (8,473,035) (8,053,798) (2,301,668)
Net position, January 1 72,924,795 67,938,264 76,612,497 68,558,699
Net position, December 31 76,612,497$ 59,465,229$ 68,558,699$ 66,257,031$
Capital outlay acquisitions 189,582$ 565,124$ 565,124$ 107,242$
Bond proceeds - $ 6,753,720$ 6,075,000$ 1,094,952$
CITY OF LAKEVILLE, MINNESOTA
For the Year Ending December 31, 2017
Income (loss) before contributions,
transfers, and depreciation
Total contributions, transfers, and
depreciation (net)
Enterprise - Utility Fund (Water Operation)
Schedule of Revenues, Expenses and Changes in Net Position
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenue
User charges for services 4,596,025$ 5,130,765$ 5,047,350$ 5,638,031$
Operating expenses
Personnel services 709,721 794,026 769,217 817,174
Commodities 61,601 99,067 82,424 89,742
Other charges and services 230,849 349,557 336,439 322,728
Disposal charges 3,253,486 3,263,530 3,263,530 3,509,576
Major maintenance 49,071 1,946,910 1,805,213 545,000
Total operating expenses 4,304,728 6,453,090 6,256,823 5,284,220
Operating income (loss)291,297 (1,322,325) (1,209,473) 353,811
Non-operating revenue
Intergovernmental 1,632 26,632 26,632 1,632
Investment income 16,837 16,750 18,082 11,388
Disposal of assets 108 114,500 125,000 24,000
Total non-operating revenue 18,577 157,882 169,714 37,020
309,874 (1,164,443) (1,039,759) 390,831
Contributed capital 3,787,049 469,142 500,000 500,000
Transfer from other funds 19,055 19,260 19,260 23,873
Transfer to other funds (150,220) (152,157) (152,157) (143,628)
Bond expense - - - (21,425)
Depreciation (1,331,122) (1,248,027) (1,374,834) (1,203,516)
2,324,762 (911,782) (1,007,731) (844,696)
Change in net position 2,634,636 (2,076,225) (2,047,490) (453,865)
Net position, January 1 40,249,303 39,732,585 42,883,939 40,836,449
Net position, December 31 42,883,939$ 37,656,360$ 40,836,449$ 40,382,584$
Capital outlay acquisitions 79,294$ 501,282$ 501,282$ 332,947$
Bond proceeds - $ 720,000$ 495,000$ -$
CITY OF LAKEVILLE, MINNESOTA
For the Year Ending December 31, 2017
Total contributions, transfers, and
depreciation (net)
Income (loss) before contributions,
transfers and depreciation
Enterprise - Utility Fund (Sanitary Sewer Operation)
Schedule of Revenues, Expenses and Changes in Net Position
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenue
User charges for services 770,460 $ 778,918$ 793,540$ 810,000$
Operating expenses
Personnel services 18,400 17,738 17,738 18,262
Commodities 7 31 31 31
Other charges and services 798,620 738,330 707,970 723,984
Total operating expenses 817,027 756,099 725,739 742,277
Operating income (loss)(46,567) 22,819 67,801 67,723
Non-operating revenue
Investment income 1,372 996 1,134 1,609
Income(loss) before transfers (45,195) 23,815 68,935 69,332
Transfers to other funds (3,568) (3,538) (3,538) (4,384)
Change in net position (48,763) 20,277 65,397 64,948
Net position, January 1 254,699 164,484 205,936 271,333
Net position, December 31 205,936 $ 184,761$ 271,333$ 336,281$
Capital outlay acquisitions 124,737 $ -$ -$ 400,000$
Bond proceeds - $ -$ -$ 400,000$
Enterprise - Utility Fund (Street Light Operation)
Schedule of Revenues, Expenses and Changes in Net Position
CITY OF LAKEVILLE, MINNESOTA
For the Year Ending December 31, 2017
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenue
User charges for services 727,071$ 791,446$ 813,694$ 988,012$
Operating expenses
Personnel services 251,815 298,822 287,947 311,912
Commodities 42,680 34,997 44,786 32,894
Other charges and services 280,960 702,660 717,367 858,548
Total operating expenses 575,455 1,036,479 1,050,100 1,203,354
Operating income 151,616 (245,033) (236,406) (215,342)
Non-operating revenue
Intergovernmental 80,048 52,292 120,000 125,000
Investment income 6,632 3,446 6,050 5,965
Total non-operating revenue 86,680 55,738 126,050 130,965
Income before transfers and
depreciation 238,296 (189,295) (110,356) (84,377)
Transfers from other funds 1,557 1,967 46,967 437,275
Transfers to other funds (160,432) (193,000) (193,000) (222,967)
Depreciation (11,002) (7,205) (7,205) (2)
(169,877) (198,238) (153,238) 214,306
Change in net position 68,419 (387,533) (263,594) 129,929
Net position, January 1 902,935 957,972 971,354 707,760
Net position, December 31 971,354$ 570,439$ 707,760$ 837,689$
Capital outlay acquisitions 193,253$ 17,268$ 19,037$ -$
CITY OF LAKEVILLE, MINNESOTA
For the Year Ending December 31, 2017
Total transfers and depreciation
(net)
Enterprise - Utility Fund (Environmental Resources)
Schedule of Revenues, Expenses and Changes in Net Position
2016 2017
2015 Adopted 2016 Proposed
Actual Budget Estimate Budget
Operating revenues
Charges for services 415,277 $ 286,933$ 286,932$ 297,799 $
Other 127,757 73,496 76,000 73,000
Total operating revenues 543,034 360,429 362,932 370,799
Operating expenses
Other charges and services 433,532 491,097 478,623 501,340
Operating income 109,502 (130,668) (115,691) (130,541)
Non-operating revenue (expense)
Investment income 2,162 3,745 4,174 3,359
Transfer to General Fund (50,012) (51,512) (51,512) (53,057)
Total non-operating (net)(47,850) (47,767) (47,338) (49,698)
Change in net assets 61,652 (178,435) (163,029) (180,239)
Net position, January 1 773,159 748,911 834,811 671,782
Net position, December 31 834,811 $ 570,476$ 671,782$ 491,543$
CITY OF LAKEVILLE, MINNESOTA
Schedule of Revenues, Expenses and Changes in Net Position
Internal Service - Municipal Reserves Fund
For the Year Ending December 31, 2017