HomeMy WebLinkAboutItem 06.d
December 4, 2017 Item No.
RESOLUTION AMENDING THE 2017 GENERAL FUND BUDGET, 2017
ECONOMIC DEVELOPMENT FUND BUDGET AND 2017 EQUIPMENT
FUND BUDGET
Proposed Action
Staff recommends adoption of the following motion: Move to approve the Resolution Amending
the 2017 General Fund, Economic Development Fund and Equipment Fund Budgets.
Overview
Various events have transpired during the year which require an adjustment to the 2017 budget.
Various amendments have been approved by the City Council during the year. Approval of this
resolution authorizes the amendment of the budget to more accurately reflect changes in
operations.
Final
Adopted YTD 12/4/2017 Amended
Budget Amended Amendment Budget
Revenues 25,318,822$ 25,406,363$ 153,348$ 25,559,711$
Expenditures 26,434,999 26,522,540 279,168 26,801,708
Excess (Deficiency) (1,116,177) (1,116,177) (125,820) (1,241,997)
Other Financing Sources (Uses) (362,345) (1,044,302) - (1,044,302)
Net Change in Fund Balance (1,478,522) (2,160,479) (125,820) (2,286,299)
Fund Balance, January 1 14,121,784 14,121,784 954,716 15,076,500
Fund Balance, December 31 12,643,262$ 11,961,305$ 828,896$ 12,790,201$
Final
Adopted YTD 12/4/2017 Amended
Budget Amended Amendment Budget
Revenues 2,705$ 2,705$ -$ 2,705$
Expenditures 12,500 12,500 9,785 22,285
Excess (Deficiency) (9,795) (9,795) (9,785) (19,580)
Other Financing Sources (Uses) - - - -
Net Change in Fund Balance (9,795) (9,795) (9,785) (19,580)
Fund Balance, January 1 40,980 40,980 5,033 46,013
Fund Balance, December 31 31,185$ 31,185$ (4,752)$ 26,433$
General Fund
Economic Development Fund
Final
Adopted YTD 12/4/2017 Amended
Budget Amended Amendment Budget
Revenues 606,306$ 606,306$ -$ 606,306$
Expenditures 2,121,796 2,121,796 41,351 2,163,147
Excess (Deficiency) (1,515,490) (1,515,490) (41,351) (1,556,841)
Other Financing Sources (Uses) 1,076,000 1,576,000 - 1,576,000
Net Change in Fund Balance (439,490) 60,510 (41,351) 19,159
Fund Balance, January 1 1,678,921 1,678,921 17,794 1,696,715
Fund Balance, December 31 1,239,431$ 1,739,431$ (23,557)$ 1,715,874$
Equipment Fund
A detailed explanation of the adjustments is attached.
Primary Issues to Consider
Exhibit A: General Fund
Exhibit B: Economic Development Fund
Exhibit C: Equipment Fund
Supporting Information
Resolution
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
See attached Various
2017 Budget
CITY OF LAKEVILLE
RESOLUTION NO. ________
RESOLUTION AMENDING THE 2017 GENERAL FUND, ECONOMIC
DEVELOPMENT FUND AND EQUIPMENT FUND BUDGETS
BE IT RESOLVED by the City Council of the City of Lakeville, Minnesota that the 2017 General
Fund budget, 2017 Economic Development Fund budget and the 2017 Equipment Fund Budget
are hereby amended for the fiscal year ending December 31, 2017 as per Exhibit A, B and C, as
attached hereto.
ADOPTED by the Lakeville City Council this 4th day of December 2017.
CITY OF LAKEVILLE
________________________________
Douglas P. Anderson, Mayor
ATTEST:
________________________________
Charlene Friedges, City Clerk
Exhibit A
2017 2017 2017
YTD Final
Amended 12/4/2017 Amended
Budget Adjust Budget Notes
Revenues
General property taxes 18,833,557$ -$ 18,833,557$
Licenses and permits 2,268,952 72,356 2,341,308 (4)
Intergovernmental 1,021,685 17,235 1,038,920 (8)
Charges for services 2,666,697 63,757 2,730,454 (3)(7)(9)(10)
Court fines 466,000 - 466,000
Investment income 90,071 - 90,071
Miscellaneous 59,401 - 59,401
Total revenues 25,406,363 153,348 25,559,711
Expenditures
General government
Mayor and Council 101,090 - 101,090
Committees and Commissions 75,660 17,500 93,160 (3)
City administration 423,147 - 423,147
City Clerk 139,774 - 139,774
Legal counsel 57,000 23,000 80,000 (1)
Planning 564,262 - 564,262
Community and econ. development 358,272 - 358,272
Inspections 1,127,584 72,356 1,199,940 (4)
General government facilities 529,611 - 529,611
Finance 759,615 - 759,615
Information systems 620,742 - 620,742
Human resources 520,626 - 520,626
Insurance 182,180 102,820 285,000 (2)
Public safety
Police 10,493,244 - 10,493,244
Fire 1,810,311 - 1,810,311
Public works
Engineering 1,005,397 - 1,005,397
Operations and Maintenance 664,477 - 664,477
Streets 3,276,483 - 3,276,483
Parks and recreation
Parks 2,541,925 - 2,541,925
Recreation 672,981 (18,020) 654,961 (6)
Heritage Center 95,822 28,651 124,473 (6)(7)
Arts Center 502,337 52,861 555,198 (8)(9)(10)
Total expenditures 26,522,540 279,168 26,801,708
Excess (deficiency) of revenues
over expenditures (1,116,177) (125,820) (1,241,997)
Other financing sources (uses)
Transfer from other funds 782,655 - 782,655
Transfer to other funds (1,826,957) - (1,826,957)
Total other financing sources (uses) (1,044,302) - (1,044,302)
Net change in fund balance (2,160,479) (125,820) (2,286,299) (1)(2)
Fund balance, January 1 14,121,784 954,716 15,076,500 (5)
Fund balance, December 31 11,961,305$ 828,896$ 12,790,201$
2017 GENERAL FUND BUDGET
Exhibit A
(1)
Expenditures:
Other Charges and Services 23,000
Revenues:
Use of Fund Balance 23,000
(2)
Expenditures:
Other Charges and Services 102,820
Revenues:
Use of Fund Balance 102,820
(3)
Expenditures:
Personnel Services 5,476
Other Charges and Services 12,024
Revenues:
General Government Services 17,500
(4)
Expenditures:
Other Charges and Services 72,356
Revenues:
Permits - Electrical 72,356
Amend legal fees due to changes in the attorney contract and other unanticipated costs.
Amend the General Fund share of the insurance allocation to the Municipal Reserves Fund.
Amend the Pan-O-Prog program to reflect the city share of the fire works and increase the
contribution from the Pan-O-Prog Committee.
Amend the Inspections Department budget to account for the increase in contractual electrical
inspections expense and the offsetting electrical permit revenues.
Exhibit A
(5)
Actual Fund Balance, January 1, 2017 15,076,500
Budgeted Fund Balance, January 1, 2017 14,121,784
Increase Fund Balance, January 1, 2017 954,716
(6)
Expenditures:
Personnel Services - Heritage Center 18,020
Personnel Services - Recreation (18,020)
(7)
Expenditures:
Personnel Services 8,631
Other Charges and Services 2,000
Revenue:
Charges for Services - Facility Rental 10,631
(8)
Expenditures:
Other Charges and Services 17,235
Revenue:
Intergovernmental - Art Grant 17,235
Amend the Heritage Center budget for the increase in Building Attendants' salaries and utility costs
resulting from increased facility rentals.
Amend the art grant expenses funded 100% by grant revenues.
Amend the budgeted (estimated) January 1, 2017 Fund Balance to reflect the actual January 1 Fund
Balance.
Reclassify the Heritage Center and Recreation budget to account for the Administrative Assistant to
be funded 50% of the time by the Heritage Center.
Exhibit A
(9)
Expenditures:
Other Charges and Services 19,146
Revenue:
Charges for Services - Facility Rental 19,146
(10)
Expenditures:
Commodities 280
Other Charges and Services 16,200
Revenues:
Charges for Services - Art Center Program Fees 16,480
Total Expenses 279,168
Revenues 153,348
Use of FB Reserves 125,820
Total Funding 279,168
Use of FB Test
Per above (125,820)
Per Gen Summ (125,820)
Diff (Should be Zero) -
Amend arts center facility rentals and resulting increased rental expenses.
Amend various art center program expenses resulting from increased participation.
Exhibit B
2017
2017 Final
Adopted 12/4/2017 Amended
Budget Adjust Budget Notes
Revenues
Charges for services 2,500$ -$ 2,500$
Investment income 205 - 205
Total Revenues 2,705 - 2,705
Expenditures
Other charges and services 12,500 - 12,500
Total Expenditures 12,500 - 12,500
Transfers
Transfer to SSB TIF Fund - (9,785) (9,785) (1)
Net Change in Fund Balance (9,795) (9,785) (19,580)
Fund Balance, January 1 40,980 5,033 46,013 (2)
Fund Balance, December 31 31,185$ (4,752)$ 26,433$
2017 ECONOMIC DEVELOPMENT FUND BUDGET
Exhibit B
(1)Amend the budget to transfer funds to the SSB TIF to close out the fund.
SSB TIF project was discontinued. Costs were incurred over and above the
TIF fees collected. Use Economic Development funds to pay these costs.
Expenditures:
Transfer To TIF Fund 9,785
Revenues:
Use of Fund Balance 9,785
(2)Adjust the budgeted (estimated) January 1, 2017 Fund Balance to reflect the
actual January 1 Fund Balance
Actual Fund Balance, January 1, 2017 46,013
Budgeted Fund Balance, January 1, 2017 40,980
Increase Fund Balance, January 1, 2017 5,033
Total Expenses 9,785
Revenues -
Use of FB Reserves 9,785
Total Funding 9,785
Exhibit C
2017
2017 Final
Amended 12/4/2017 Amended
Budget Adjust Budget Notes
Revenues
General property taxes 350,000$ -$ 350,000$
Investment income 33,578 - 33,578
Donations 15,000 - 15,000
Miscellaneous 207,728 - 207,728
Total revenues 606,306 - 606,306
Expenditures - Capital outlay
General government 489,685 - 489,685
Public safety
Police 241,933 29,351 271,284 (1) (2)
Fire 310,843 - 310,843
Public works 816,831 12,000 828,831 (3)
Parks and recreation 262,504 - 262,504
Total expenditures 2,121,796 41,351 2,163,147
Excess (deficiency) of revenues
over expenditures (1,515,490) (41,351) (1,556,841)
Other financing sources (uses)
Transfer from
General Fund 1,445,000 - 1,445,000
Pavement Management 100,000 - 100,000
Enterprise -Utility Fund 31,000 - 31,000
Total other financing sources (uses)1,576,000 - 1,576,000
Net change in fund balance 60,510 (41,351) 19,159
Fund balance, January 1 1,678,921 17,794 1,696,715 (4)
Fund balance, December 31 1,739,431$ (23,557)$ 1,715,874$
2017 EQUIPMENT FUND BUDGET
Exhibit C
(1)
Expenditures:
Capital Outlay - Police 12,341
Revenues:
Use of Fund Balance 12,341
(2)
Expenditures:
Capital Outlay - Police 17,010
Revenues:
Use of Fund Balance 17,010
(3)
Expenditures:
Capital Outlay - Streets 12,000
Revenues:
Use of Fund Balance 12,000
(4)Adjust the budgeted (estimated) January 1, 2017 Fund Balance to reflect the
actual January 1 Fund Balance
Actual Fund Balance, January 1, 2017 1,696,715
Budgeted Fund Balance, January 1, 2017 1,678,921
Increase Fund Balance, January 1, 2017 17,794
Total Expenses 41,351
Revenues -
Use of FB Reserves 41,351
Total Funding 41,351
Amend the 2017 Police equipment budget to move funds appropriated in 2016 Equipment
Fund into 2017 for conversion cost of two squads purchased in 2016 but not completed until
2017.
Amend the 2017 Police equipment budget for the unanticipated replacement of a civil defense
siren.
Amend the 2017 Street equipment budget for costs exceeding budget for the replacement of the
CAT Loader.