HomeMy WebLinkAboutItem 91
City of Lakeville
Finance Department
Memorandum
To: Mayor and Council
From: Justin Miller, City Administrator
Jerilyn Erickson, Finance Director
Date: November 25, 2019
Subject: 2019 Year End Preview & Final 2020 Budget/Tax Levy Discussion
The purpose of this report is to provide the City Council with information regarding financial
projections for 2019, the 2020 proposed General Fund budget and property tax levy to
support general services, and a couple of additional proposed fee changes.
The proposed changes achieve the following goals:
Reduce the property tax increase from 7.67% to 6.95%;
Maintain 2020 yearend fund balance ratio in the middle of the required range of 40-
50% (estimated 44.8%);
Maintain personnel changes that were included in the preliminary budget;
Utilize 2019 permit revenues to provide additional inspection services.
Challenges for 2021:
Personnel
o New positions needed due to community growth;
o Health insurance changes;
Equipment Fund
o Need to issue debt (approximately $610,000) for equipment replacement in
2021;
o Continue to issue debt four of the five years through 2025;
o Anticipates General Fund contribution of $350,000;
o Increase in tax levy needed to achieve pay-as-you-go strategy by 2026;
Building Fund
o Anticipates General Fund contribution of $200,000;
Technology Fund
o Established in 2019 with initial transfer of General Fund reserve funds;
o Will be funded by property taxes in future;
Park Improvement Fund – significant increase in levy to fund parking lot repairs for
area parks;
Estimated increase in 2021 tax levy of 10.7% does not include any additional positions.
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GENERAL FUND
2019 Year End Estimates
Staff has prepared year end revenue and expenditure estimates for the General Fund. The
following chart summarizes the impact of those estimates:
2019 Amended
Budget
2019 Year End
Estimate
Net Change in Fund Balance - (use of
reserves)
($1,260,500) $420,077
Ratio: Fund Balance to Next Year
(2020) Expenditures
43.4% 48.9%
The 2019 year-end estimate includes assumptions that Staff believe are reasonable. Staff
recognizes that actual activity will differ from the assumptions by varying degrees. A few
areas that may have greater risk or opportunity from the assumptions are shown below:
Assumption Risk Opportunity
Building Permit
Revenue
475 SF Units Currently at 451 SF 500 SF Units
Building Permit
Revenue
8 Apartment
Permits
Currently at 5 Greater than 8
(Springs of Lakeville)
Investment
Income
$128,000 Rates Increase; Negative
Fair Value Adj
Rates Decrease;
Positive Fair Value Adj
Snowplowing Normal Levels
for Nov & Dec
Increased number of
snow events
Less than normal
levels for Nov & Dec
The 2019 year-end estimate reflects an increase in reserves of $420k which is about $1.7
million more than was anticipated in the 2019 amended budget.
2019 Amended
Budget
2019 YE
Estimates
Variance
Pos / (Neg)
Revenues $28,012,484 $29,847,834 $1,835,350
Expenditures ($28,814,466) ($28,975,541) ($161,075)
Transfers In $766,482 $772,784 $6,302
Transfers Out ($1,225,000) ($1,225,000) ($0)
NET ($1,260,500) $420,077 $1,680,577
Revenues generated approximately $1.8 million more than budgeted, primarily in two areas:
licenses and permits ($1.1 million) and charges for services – public works ($596k). Charges
for services includes $783k for engineering developer contract administration.
Expenditures will exceed budget by about $161k. Savings which occurred across many
departments, were offset by a $121k increase in streets snow removal costs and a $151k
increase in the insurance allocation to the General Fund for property/liability coverage,
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resulting in a net overage. The insurance allocation can fluctuate depending on the actual
premium charged, dividends received, insurance reimbursements from other insurance
companies, etc. Staff has recommended using surplus funds rather than increasing the tax
levy to fund the difference in the allocation for both 2018 and 2019 as well as the 2020
proposed budget.
Transfers Out reflect an additional $440k transfer to fund the equipment fund purchases
associated with the 2020-2029 Capital Improvement Program. Also included in the Transfers
Out is a transfer of $155k to the newly created Technology Fund. This will establish a
beginning fund balance to fund purchases associated with the 2020-2029 Capital
Improvement Program (Technology Plan). These transfers were approved by Council
resolution on September 16, 2019.
2020 Revenue Changes in the General Fund
The following changes have been incorporated into the current budget presented to you
today:
Revenues Totals
Preliminary (includes Transfers In) – 09/16/2019 30,447,877
Property Taxes (24,000)
Electrical Permits 23,000
Intergovernmental: 25,000
State Police Aid 36,000
State Fire Aid (11,000)
Transfers in from Utility Fund – GIS Analyst 63,000
Transfers in from Liquor Fund – Fireworks 13,000
Miscellaneous 9,045
Total $30,556,922
2020 Expenditure Changes in the General Fund
The following changes have been incorporated into the current budget presented to you
today:
Expenditures Totals
Preliminary (Includes Transfers Out) – 09/16/2019 $31,098,927
Inspections Dept. – New Building Inspector (3/1/2020)* 98,625
Inspections Dept. – Contractual electrical inspections 23,000
Police Dept. – Body worn camera annual support 10,000
Engineering Dept. – GIS Analyst position (offset by Utility Transfers) 74,000
Other 2,045
Total $31,306,597
*Use Fund Balance Reserves (See Summary Below)
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Fund Balance
The Fund Balance Policy states that the City will endeavor to maintain an unrestricted fund
balance in the General Fund of an amount not less than 40% and not greater than 50% of the
next year’s budgeted expenditures of the General Fund.
The proposed 2020 budget includes the use of reserves for one-time or long-term purchases
and/or expenditures related to revenues received in the prior year:
2020 Use of Fund Balance Reserves
Equipment Fund – Equipment Replacement $350,000
Building Fund – Major Facility Improvements 200,000
Inspections - NEW Inspector Position 98,625
Elections (1/2 cost) 65,000
Zoning Ordinance Updates (2019 carry forward) 23,050
Civil Defense – Siren Relocation 13,000
Total $749,675
The following table shows the estimated impact on the General Fund reserve balance at year
ending 12/31/2020:
Change ($) FB/CY Exp FB/Est 2020 Exp*
($749,675) 46.4% 44.8%
*2021 expenses include 3% growth plus transitional
costs for new personnel ($218k)
PROPERTY TAX LEVY
Impact of Growth, Inflation and Other Factors
The following chart provides a guide for establishing the 2020 tax levy based on factors that
impact the Lakeville community:
Low
Growth (New Construction) 3.20%
CPI-U (MSP) * 2.60%
Debt Service 0.88%
Total 6.68%
* Dec 2018 to September 2019
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Proposed Property Tax Levy
The proposed 2020 property tax levy is comprised of the following components:
Fund Preliminary
2020 Levy
9/16/19
Proposed
2020 Levy
11/25/19
Change
from
Preliminary
to Proposed
Change
from 2019
Adopted
Levy
General Fund $22,561,400 $22,535,635 ($25,765) $1,191,565
Street Reconstruction 0 0 0 0
Pavement Management
Fund
1,100,000 1,100,000 0 0
Building Fund 0 0 0 0
Equipment Fund 675,000 675,000 0 423,000
Park Improvement Fund 350,000 350,000 0 175,000
Trail Improvement Fund 0 30,000 30,000 30,000
Debt Service Funds 7,560,365 7,340,365 (220,000) 262,545
TOTAL LEVY $32,246,765 $32,031,000 ($215,765) $2,082,110
The preliminary property tax levy was adopted in September at $32,246,765 which was an
increase of $2,297,875 or 7.67% from the 2019 tax levy. The proposed tax levy is $215,765 less
than the preliminary tax levy and results in a 6.95% increase from 2019 to 2020.
The proposed property tax levy reflects a decrease of $220k in the debt service levy due to
prepayments of special assessments. The reduction also provides an opportunity to levy for
the first interest payment of the 2020 bonds, which results in lower amount of debt being
issued for the 2020 projects. The proposed levy also reflects a levy for the Trail Improvement
Fund to moderate the increase that will be needed in 2021.
The City tax capacity rate is estimated to decrease from 35.607% (2019) to 34.568% (2020).
Market Valuation
Preliminary taxable market values have increased $752 million or 10.2% from 2019 to 2020, of
which approximately $235 million is from new construction. Based on the 2019 tax rate, new
construction will generate about $917,000 in property taxes. This equates to about 3.06% of
the 2019 property tax levy.
Impact on Median Valued Home and Commercial Property
The proposed 2020 City tax levy will result in an estimated $60 increase on the median value
home ($328,500) due to both a levy increase, as well as a market value increase as determined
by the Dakota County Assessor.
Existing commercial properties in Lakeville, in the aggregate, increased in market value by
3.7%. The proposed 2020 City tax levy will result in an estimated $56 increase on a
commercial property valued at $1 million with a 3.7% increase in value.
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Summary of Changes
Preliminary
9/16/19
Proposed
11/25/19
Total Levy $32,246,765 $32,031,000
Increase in Levy (from 2019): $ $2,297,875 $2,082,110
Increase in Levy (from 2019): % 7.67% 6.95%
Estimated Tax Rate 34.827% 34.568%
Impact on City portion of property taxes:
Median Valued Home $68.00/yr
$5.65/mo
$60.00/yr
$5.00/mo
Commercial Property ($1 million value) $108.00 $56.00
Fee Changes for 2020 Official Fee Schedule
The City Council discussed credit card fee options at their October 28, 2019 workshop. Staff
was directed to pass the credit card fees on to the customer for building permits, special
assessments and miscellaneous billings. Staff had presented the estimated cost at 2.75% of
the amount being charged. The actual cost will be as follows:
2.75% for amounts >=$100
2.75% plus $.50 for amounts <$100
The City has recently received a request to provide fire watch services for events occurring
during the 2019 holiday season, and would like to propose an amendment to the fee
schedule effective immediately upon adoption (12/02/2019) to ensure the City can recover its
costs in providing these services. The fee schedule currently includes a $25/hour rate for
“personnel costs (fire dept)”. The new proposed rate would be $45/hour for “Fire department
contract services”. This rate is calculated using the payroll rate multiplied by 2.5x, consistent
with other personnel rate calculations on the City’s fee schedule. The multiplier is intended to
cover administrative costs incurred by the City in order to provide the services.
Financial Sustainability and Resiliency
Staff and members of the Finance Committee presented a revised Financial Sustainability and
Resiliency Policy to the Council earlier this evening with the anticipation that the City Council
would adopt the Policy at an upcoming meeting and that they would also consider the
principles of this Policy when they finalize the 2020 budget and tax levy.
Compensated Leave Fund
Staff discussed the Compensated Leave Fund with the City’s auditors. During the phase-in
period for funding the liability, both Staff and the auditors thought it was appropriate to have
the Council “commit” the funds and when we get to the recommended level of funding,
convert the “committed fund balance” to a separate Compensated Leave Fund.
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Committed Fund Balance is achieved when a government at its highest level of decision-
making authority formally places a constraint on the use of its own resources that remains
legally binding unless removed in the same manner.
Based on current estimates of the compensated leave liability (as defined in the Policy) and
phasing it in over three to five years, staff is recommending that the City Council commit
$100,000 funds in 2019. If the City Council agrees with this approach, Staff will include
language in the 2020 Budget Resolution.
BUDGET SCHEDULE
Nov 25 Workshop – Budget Review
Dec 2 Meeting – Public Budget Meeting (Truth in Taxation) / Adopt 2020 Budget
and 2020 Tax Levy; Adopt 2020 Fee Schedule
COUNCIL DIRECTION
Staff is seeking direction regarding the final 2020 property tax levy and budgets to prepare
the resolutions for the December 2, 2019 council meeting.
Attachments: 1) General Fund Budget Summary
2) Equipment Plan – Dated 2019.11.25
3) Facilities Plan – Dated 2019.11.25
4) Technology Plan – Dated 2019.11.25
2019 2019 2020 Percent
2018 Adopted Amended 2019 Preliminary of
Actual Budget Budget Estimate Budget Total
Revenues (Amount) (Percent) (Amount) (Percent)
General property taxes 20,116,949$ 21,327,427$ 21,327,427$ 21,339,969$ 22,509,080$ 75.7% 1,181,653$ 5.5% 1,169,111$ 5.5%
Licenses and permits 3,208,279 2,390,498 2,415,498 3,534,323 2,657,099 8.9% 241,601 10.0% (877,224) -24.8%
Intergovernmental 1,180,340 989,590 989,590 1,063,786 1,053,453 3.5% 63,863 6.5% (10,333) -1.0%
Charges for services 3,415,540 2,734,249 2,734,249 3,329,991 2,976,026 10.0% 241,777 8.8% (353,965) -10.6%
Court fines 347,203 346,000 346,000 372,602 360,000 1.2% 14,000 4.0% (12,602) -3.4%
Investment income 174,680 120,000 120,000 128,000 128,000 0.4% 8,000 6.7% - 0.0%
Miscellaneous 68,725 47,163 79,720 79,163 42,893 0.1%(36,827) -46.2%(36,270) -45.8%
Total revenues 28,511,716 27,954,927 28,012,484 29,847,834 29,726,551 100.0%1,714,067 6.1%(121,283) -0.4%
Expenditures
General government
Mayor and council 96,770 113,250 113,250 120,978 121,006 0.4% 7,756 6.8% 28 0.0%
Committees and commissions 96,261 68,218 90,770 100,497 91,616 0.3% 846 0.9% (8,881) -8.8%
City administration 477,629 477,506 477,506 472,970 498,062 1.6% 20,556 4.3% 25,092 5.3%
City clerk 205,165 148,586 148,586 148,537 265,446 0.9% 116,860 78.6% 116,909 78.7%
Legal counsel 71,584 81,000 81,000 81,000 83,500 0.3% 2,500 3.1% 2,500 3.1%
Planning 547,225 580,515 580,515 557,557 597,315 1.9% 16,800 2.9% 39,758 7.1%
Community and econ. development 378,639 375,237 375,237 374,756 382,316 1.2% 7,079 1.9% 7,560 2.0%
Inspections 1,231,553 1,273,544 1,298,544 1,332,794 1,439,695 4.7% 141,151 10.9% 106,901 8.0%
General government facilities 564,459 607,324 607,324 607,995 637,091 2.1% 29,767 4.9% 29,096 4.8%
Finance 770,487 804,429 804,429 811,518 859,493 2.8% 55,064 6.8% 47,975 5.9%
Information technology 648,058 788,545 788,545 783,795 818,247 2.7% 29,702 3.8% 34,452 4.4%
Human resources 505,281 527,997 527,997 511,677 557,705 1.8% 29,708 5.6% 46,028 9.0%
Insurance 425,000 285,000 285,000 435,727 285,000 0.9% - 0.0% (150,727) -34.6%
Public safety - 0%
Police 11,169,958 11,628,288 11,588,288 11,531,492 12,428,732 40.4% 840,444 7.3% 897,240 7.8%
Fire 1,891,614 2,034,937 2,044,942 2,043,956 2,103,412 6.8% 58,470 2.9% 59,456 2.9%
Public works - 0%
Engineering 875,303 881,757 881,757 883,891 1,024,200 3.3% 142,443 16.2% 140,309 15.9%
Construction services 489,188 573,870 573,870 546,408 620,977 2.0% 47,107 8.2% 74,569 13.6%
Streets 3,405,461 3,288,617 3,288,617 3,409,542 3,547,487 11.5% 258,870 7.9% 137,945 4.0%
Parks and recreation - 0%
Parks 2,619,972 2,744,963 2,744,963 2,726,338 2,869,618 9.3% 124,655 4.5% 143,280 5.3%
Recreation 715,605 745,137 745,137 755,893 786,925 2.6% 41,788 5.6% 31,032 4.1%
Heritage center 119,597 138,674 138,674 133,494 151,221 0.5% 12,547 9.0% 17,727 13.3%
Arts center 550,822 550,049 550,049 604,726 633,472 2.1% 83,423 15.2% 28,746 4.8%
Other - 79,466 79,466 - (45,939) -0.1%(125,405) -157.8%(45,939) 0%
Total expenditures 27,855,631 28,796,909 28,814,466 28,975,541 30,756,597 100.0%1,942,131 6.7%1,781,056 6.1%
Excess (deficiency) of revenues
over expenditures 656,085 (841,982) (801,982) 872,293 (1,030,046) (228,064) 28.4%(1,902,339) -218.1%
Other financing sources (uses)
Transfer from other funds 765,232 766,482 766,482 772,784 830,371 63,889 8.3% 57,587 7.5%
Transfer to other funds (958,026) (630,000) (1,225,000) (1,225,000) (550,000) 675,000 -55.1%675,000 -55.1%
Total other financing sources (uses) (192,794) 136,482 (458,518) (452,216) 280,371 738,889 -161.1%732,587 -162.0%
Net change in fund balance 463,291 (705,500) (1,260,500) 420,077 (749,675) 510,825 -40.5% (1,169,752) -278.5%
Fund balance, January 1 15,128,923 14,970,310 15,592,214 15,592,214 16,012,291 420,077 2.7%420,077 2.7%
Committed Fund Balance - - - - - - 0%- 0%
Fund balance, December 31 15,592,214$ 14,264,810$ 14,331,714$ 16,012,291$ 15,262,616$ 930,902$ 6.5%(749,675) -4.7%
Adj Fund Balance, Dec 31 (net of restricted)14,612,839$ 13,150,435$ 13,352,339$ 15,032,916$ 14,283,241$
Ratio: Fund balance to CY expenditures 51.9%45.7%46.3%51.9%46.4%
Ratio: Fund balance to NY expenditures 50.7%44.3%43.4%48.9%44.8%
CITY OF LAKEVILLE, MINNESOTA
General Fund
Schedule of Revenues, Expenditures and Changes in Fund Balances
For the Year Ending December 31, 2020
Change from Change from
2019 Amended
Budget
2019
Estimate
CITY OF LAKEVILLECouncil Workshop 2020 - 2029 EQUIPMENT PLAN11/25/20192019 2018 CF +2020 - 2029FundingAMENDED2019 Est'd 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 TotalsUse of Funds:Information Technology 134,580$ 26,638$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ FacilitiesGEN FUND- - - - - - 30,095 - 35,383 - - - 65,478 PlanningGEN FUND- - - - 27,250 - - - - - - - 27,250 InspectionsGEN FUND- 25,000 - 24,930 25,636 26,341 - - 28,458 - - - 105,365 PoliceEQ FUND803,831 793,035 226,595 699,616 530,158 384,665 403,582 317,956 614,528 593,708 303,619 922,350 4,996,777 FireEQ FUND- - - 1,098,493 1,108,731 788,670 108,020 1,256,700 - - 82,550 - 4,443,164 EngineeringGEN FUND- - - - - - - - - - - 32,500 32,500 Construction ServicesGEN FUND- - - 26,500 - - - 31,860 32,670 31,000 - - 122,030 StreetsEQ FUND579,064 588,611 924,054 1,829,999 931,337 159,898 976,082 1,283,193 1,418,643 1,229,774 1,247,649 577,047 10,577,676 ParksEQ FUND171,290 176,722 232,865 244,695 355,570 293,289 149,960 409,119 368,516 392,722 592,030 566,383 3,605,148 Environmental ResourcesENV RES- - - - 30,520 - - - - - - - 30,520 ForestryENV RES- - - - 22,083 - - - - - - - 22,083 CommunicationsCOMM66,500 38,485 80,000 51,500 60,000 55,000 36,000 25,000 79,500 21,000 55,000 - 463,000 UtilitiesUTILITY65,022 65,022 132,521 489,457 - - 312,026 77,040 688,233 40,479 103,428 330,057 2,173,241 LiquorLIQUOR- - - - - - - - - - - - - - - - - - - - - - - - - - Total Use of Funds 1,820,287$ 1,713,513$ 1,596,036$ 4,465,190$ 3,091,285$ 1,707,863$ 2,015,765$ 3,400,868$ 3,265,931$ 2,308,681$ 2,384,275$ 2,428,337$ 26,664,232$ Source of Funds:Interest Earnings (2%) 18,331$ 18,331$ 18,331$ 33,119$ 13,146$ 1$ 16,190$ 19,381$ 17,149$ 12,958$ 14,394$ 15,665$ 160,334$ Annual Levy 252,000 252,000 675,000 1,075,000 1,075,000 1,075,000 1,075,000 1,250,000 1,500,000 1,600,000 1,600,000 1,600,000 12,525,000 General Fund Contribution 920,000 920,000 350,000 350,000 - - - - - - - - 700,000 Liquor Fund Contribution 400,000 400,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 5,000,000 Pavement Mgmt Fund Contribution - - - - - - - - - - - - - Environmental Res Fund Contribution 31,000 31,000 31,000 31,000 31,000 31,000 31,000 31,000 - - - - 186,000 Utility Fund Contribution - - - - - - - - - - - - Funding outside Equipment FundGeneral Fund17,488 25,000 - 51,430 52,886 26,341 30,095 31,860 96,511 31,000 - 32,500 352,623 Communications Fund66,500 38,485 80,000 51,500 60,000 55,000 36,000 25,000 79,500 21,000 55,000 - 463,000 Utility Fund69,804 65,022 132,521 489,457 - - 312,026 77,040 688,233 40,479 103,428 330,057 2,173,241 Liquor Fund- - - - - - - - - - - - - Lakeville Arenas4,660 - - Intergovernmental Grants 35,000 35,000 - - - - - - - - - - - Auction/Sale Proceeds 94,300 142,150 169,525 175,000 175,000 175,000 175,000 175,000 175,000 175,000 175,000 175,000 1,744,525 Donations - - 20,000 - - - - - - - - - 20,000 Bond Proceeds - - - 610,000 627,000 655,000 - 1,180,000 - - - 3,072,000 Forfeiture Funds - - 102,000 - - - - - - - - - 102,000 Total Source of Funds 1,909,083$ 1,926,988$ 2,078,377$ 3,366,506$ 2,534,032$ 2,517,342$ 2,175,311$ 3,289,281$ 3,056,393$ 2,380,437$ 2,447,822$ 2,653,222$ 26,498,723$ Change in Fund Balance88,796$ 213,475$ 482,341$ (1,098,683)$ (557,254)$ 809,479$ 159,546$ (111,587)$ (209,538)$ 71,755$ 63,546$ 224,885$ (165,509)$ Beginning Fund Balance$862,962 $960,146 $1,173,621 $1,655,962 $557,279 $25 $809,504 $969,050 $857,463 $647,925 $719,680 $783,226Ending Fund Balance$951,758 $1,173,621 $1,655,962 $557,279 $25 $809,504 $969,050 $857,463 $647,925 $719,680 $783,226 $1,008,1120-
CITY OF LAKEVILLECouncil Worksession 2020 - 2029 FACILITY PLAN11/25/20192018 CF +2020 - 20292019 2019 Est'd 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 TotalsUse of Funds:Art Center 63,625$ 68,720$ 140,500$ 135,642$ 50,000$ 8,250$ -$ 210,000$ 65,000$ 25,000$ -$ 252,368$ 886,760$ Central Maintenance Facility 179,325 137,401 158,095 10,133,800 - 97,000 - 75,000 - - - 808,152 11,272,047 City Hall 88,435 75,168 409,040 307,949 82,055 236,250 - 1,500 135,000 - - 19,607 1,191,401 Fire Station #1 6,600 900 24,857 5,000 25,000 35,975 - - - - 7,800 186,014 284,646 Fire Station #2 2,100 1,070 - 11,076 5,500 25,000 - 5,900 7,500 7,800 - 134,210 196,986 Fire Station #3 2,100 1,000 - 23,874 11,000 5,000 - - - - - 129,115 168,989 Fire Station #4 4,500 1,840 27,500 346,435 - - 30,000 - 5,500 - - 2,970 412,405 Heritage Center 37,905 25,754 92,706 - - - - - - 375,000 - 1,616 469,322 Police Station 140,935 208,517 57,350 85,000 293,658 - - 200,000 75,000 - - 268,184 979,192 Public Works Storage Facility 67,000 52,864 - - - - - - - - - - - Heritage Liquor Store- - 26,250 104,125 - - - - - - - - 130,375 Galaxie Liquor Store79,785 79,785 5,550 137,100 91,280 60,000 - - - - - 280,657 574,587 Kenrick Liquor Store- - - 84,280 - - - - - - - 4,368 88,648 Radio Communications Building - - - 35,000 - - - - - - - - 35,000 Water Treatment Facility136,055 106,836 588,393 44,500 271,538 - - - - 33,892,000 - 6,496 34,802,927 Total Use of Funds 768,175$ 759,855$ 1,530,241$ 11,453,781$ 830,031$ 467,475$ 30,000$ 492,400$ 288,000$ 34,299,800$ 7,800$ 2,093,757$ 51,493,285$ Source of Funds:Interest Earnings (2%) 24,735$ 24,735$ 21,504$ 18,697$ 5,470$ 5,393$ 6,303$ 15,067$ 15,095$ 19,603$ 21,562$ 31,872$ 160,566$ Annual Levy (Building Fund) - - - - - - - - - - - - - General Fund Contribution - - 200,000 200,000 - - - - - - - - 400,000 Antenna Rental 421,761 416,869 430,102 443,733 457,893 447,614 461,889 478,743 498,286 486,165 501,702 517,738 4,723,867 Liquor Fund 79,785 79,785 31,800 325,505 91,280 60,000 - - - - - 285,025 793,610 Water & Sewer Funds/Bonds136,055 106,836 588,393 44,500 271,538 - - - - 33,892,000 - 6,496 34,802,927 Donations/Fundraising - - - - - - - - - - - - - Energy Rebates - - - - - - - - - - - - - Other/Partnership7,380 7,380 - - - - - - - - - - - Bond Proceeds - - - 9,760,000 - - - - - - - - 9,760,000 Other - - - - - - - - - - - - - Total Source of Funds 669,716$ 635,605$ 1,271,799$ 10,792,435$ 826,181$ 513,007$ 468,192$ 493,810$ 513,381$ 34,397,768$ 523,264$ 841,131$ 50,640,970$ Change in Fund Balance(98,459)$ (124,250)$ (258,442)$ (661,346)$ (3,850)$ 45,532$ 438,192$ 1,410$ 225,381$ 97,968$ 515,464$ (1,252,626)$ (852,315)$ Beginning Fund Balance1,198,111$ 1,317,522$ 1,193,272$ 934,830$ 273,484$ 269,634$ 315,166$ 753,359$ 754,769$ 980,150$ 1,078,118$ 1,593,583$ Ending Fund Balance1,099,652$ 1,193,272$ 934,830$ 273,484$ 269,634$ 315,166$ 753,359$ 754,769$ 980,150$ 1,078,118$ 1,593,583$ 340,957$
CITY OF LAKEVILLECouncil Worksession 2020 - 2029 TECHNOLOGY PLAN11/25/20192018 CF +2020 - 20292019 2019 Est'd 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 TotalsUse of Funds:Administration -$ -$ 3,252$ 2,534$ 3,312$ 561$ 3,873$ 4,478$ 1,713$ 6,272$ 650$ 1,339$ 27,983$ Arts Center - - 1,374 - - 3,974 - 5,092 2,336 633 3,955 - 17,364 Building Inspection - - 3,834 1,478 6,592 1,811 3,331 4,578 1,713 7,642 2,099 - 33,079 Comm/Econ Development - - 1,609 3,017 3,312 1,600 4,645 1,921 3,498 3,840 1,855 1,911 27,209 Engineering - - - 4,853 3,966 4,529 5,699 - 6,361 3,840 5,250 2,704 37,201 Facilities Maintenance - - - - - - 1,865 - 393 - - 2,162 4,420 Finance - - 1,377 1,707 1,318 13,014 3,403 1,644 1,979 1,528 15,087 - 41,057 Fire - - 1,891 17,901 15,992 3,729 858 17,335 5,175 25,960 11,310 4,685 104,836 Heritage Center - - 2,906 1,509 - 7,378 - 6,055 1,749 - 3,955 - 23,551 Human Resources - - 2,844 - 6,195 1,600 1,516 3,396 - 5,641 1,855 - 23,048 Information Technology- - 1,206 4,693 2,872 4,182 1,146 1,440 5,441 3,960 5,556 - 30,497 Operations & Maintenance- - 1,377 3,216 2,743 - 2,703 2,788 4,340 2,549 - 2,704 22,419 Parks Administration- - 1,609 - 1,554 - 776 1,921 - 1,801 - - 7,662 Parks Maintenance - - - 5,774 1,973 3,411 - 716 8,695 1,528 4,738 - 26,837 Police - - 1,206 8,303 21,601 47,751 3,297 1,440 10,360 58,637 53,783 5,443 211,821 Recreation - - 400 - 6,388 - 870 1,144 - 7,406 522 - 16,729 Streets Maintenance - - 5,528 3,017 10,365 2,958 3,362 4,578 13,574 3,055 4,066 12,747 63,250 Arenas - - - 3,414 - 5,919 10,714 578 3,958 3,059 3,711 3,242 34,594 Communications - - 1,206 4,297 3,312 - 1,850 1,440 4,981 3,840 - - 20,926 Liquor - - 57,877 - 3,312 19,376 842 68,189 7,582 3,840 - - 161,017 Environmental Resources 1,377 - - 4,084 1,110 1,644 - 758 3,955 - 12,928 Utilities - - 1,609 5,805 18,449 1,600 5,868 5,522 6,730 10,147 4,204 9,506 69,440 Printers/Scanners - - 5,424 2,734 3,791 7,913 8,108 18,118 1,349 2,178 31,670 2,035 83,319 Network Infrastructure - - 35,000 22,674 162,545 306,064 - 42,866 18,511 188,435 146,677 8,495 931,268 Miscellaneous - - 4,000 8,212 - - 3,332 - - 16,810 10,100 - 42,455 Total Use of Funds -$ -$ 136,906$ 105,138$ 279,591$ 441,455$ 69,168$ 196,884$ 110,438$ 363,356$ 314,998$ 56,972$ 2,074,906$ Source of Funds:Interest Earnings (2%) -$ -$ 3,100$ 2,289$ 4,315$ 2,823$ (1,817)$ 992$ 1,099$ 3,006$ (126)$ (2,340)$ 13,341$ Annual Levy - - - 155,000 155,000 155,000 155,000 155,000 155,000 155,000 155,000 155,000 1,395,000 Contributions:General Fund- 155,000 - - - - - - - - - - - Communications Fund- - 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 44,000 Liquor Fund - - 69,677 22,100 22,100 22,100 22,100 22,100 22,100 22,100 22,100 22,100 268,577 Environmental Resources- - 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 3,600 36,000 Utility (Water/Sewer) Fund- - 15,600 15,600 15,600 15,600 15,600 15,600 15,600 15,600 15,600 15,600 156,000 Direct Costs:Lakeville Arenas- - - 3,414 - 5,919 10,714 578 3,958 3,059 3,711 3,242 34,594 Total Source of Funds -$ 155,000$ 96,377$ 206,403$ 205,015$ 209,442$ 209,597$ 202,270$ 205,757$ 206,765$ 204,285$ 201,602$ 1,947,512$ Change in Fund Balance-$ 155,000$ (40,529)$ 101,265$ (74,576)$ (232,014)$ 140,429$ 5,386$ 95,319$ (156,591)$ (110,713)$ 144,630$ (127,394)$ Beginning Fund Balance-$ -$ 155,000$ 114,471$ 215,736$ 141,160$ (90,853)$ 49,575$ 54,961$ 150,280$ (6,311)$ (117,024)$ Ending Fund Balance-$ 155,000$ 114,471$ 215,736$ 141,160$ (90,853)$ 49,575$ 54,961$ 150,280$ (6,311)$ (117,024)$ 27,606$