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2013-08-29 - Council Agenda Packet
Agenda Corcoran City Council Workshop August 29, 2013 - 6:00 PM 1. Call to Order / Roll Call 2. Unfinished Business a. 2013 Performance Report* b. 2014 Budget and Updated Financial Plan* 3. Adjournment *Includes Materials - Materials relating to these agenda items can be found in the House Agenda Packet by Door. STAFF REPORT Document No. 2a. Council Meeting: August 29, 2013 Prepared By: Brad Martens Topic: 2013 Performance Report Action Required: Direction Summary: At the August 8, 2013 City Council meeting the City Council was made aware of a budget shortfall of $141,624 for 2013. Staff was directed to look into opportunities to remove the shortfall and bring back to the City Council for further discussion. Attached to this report is an updated Performance Report showing a $ 15,910.39 Year End Forecast shortfall remaining for 2013. Some of the items amended from the previous performance report are shown below: • Reduced City Administrator Training • Reduced employer paid health insurance for employees not on the City's insurance plan (the 2013 budget planned for all employees in Administration and Public Works to be on the City plan and three employees are not) • Reduced Clerk /Admin Training • Reduced Police Overtime • Reduced Police Motor Fuels • Reduced Police Legal Fees • Reduced Public Works Sign Repair Materials • Reduced Public Works Culverts • Reduced Public Works Gravel As stated above a Year End Forecast shortfall of $ 15,910.39 still exists. Staff requests the City Council provide additional direction on how to move forward. Possible cuts to remove the shortfall are listed below: • Move water /sewer costs to Utility Fund: $25,000 • Eliminate the 2013 Seal Coating Project: $50,000 • Eliminate the 2013 Election Contribution: $ 5,000 • Stop the Laser fiche project: $ 6,000 Total $86,000 One additional item not included in the 2013 Performance Report is the cost to move the existing salt storage shed estimated at $20,000. Staff would like the Council to discuss how to pay for this item in 2013. Financial /Budget: Page 2 A shortfall in the budget will require the City to use reserves to make up the difference. Directing staff to eliminate the shortfall may result in reduced services. Options: 1. Direct staff on what amendments should be made to the 2013 Year End Forecast. 2. Other. Recommendation: Each of the possible cuts listed above have their own consequences: • Moving water /sewer costs to the Utility Fund will cause a short -term deficit in the fund • Eliminating the 2013 Seal Coating project will push those costs to future years. • Eliminating the 2013 Election contribution will cause more expenses to exist in 2014. • Stopping the Laser fiche project will decrease our future efficiency. Council Action: Direct staff on what amendments should be made to the 2013 Year End Forecast. Attachments: 1. 2013 Performance Report CITY OF CORCORAN 2013 PERFORMANCE REPORT - GENERAL FUND SEVEN MONTHS ENDED JULY 31, 2013 8c. 1 of 5 2013 Variance Account Description 2012 Actual 2013 Budget 2013 Actual Amount Remaining % Remaining Year End Forecast Budget vs YEF Comments REVENUE Other General Government R 100-41900-31020 Delinquent Property Taxes 38,238.90 0.00 15,674.67 - 15,674.67 0.00% 25,000.00 25,000.00 R 100 - 41900 -31100 General Property Taxes 2,473,578.03 2,604,456.00 1,348,857.73 1,255,598.27 48.21% 2,604,456.00 0.00 R 100 - 41900 -31810 Cable Franchise Fee 38,195.52 35,000.00 0.00 35,000.00 100.00% 35,000.00 0.00 R 100 -41900 -32110 Liquor License Fee 18,270.00 18,250.00 18,150.00 100.00 0.55% 18,150.00 - 100.00 R 100 - 41900 -33402 Homestead Credit 10,543.37 0.00 0.00 0.00 0.00% 0.00 0.00 R 100 - 41900 -33420 Ag Preserve Credit 5,825.36 0.00 0.00 0.00 0.00% 0.00 0.00 R 100 -41900 -33421 PERA State Aid 1,845.00 1,845.00 922.50 922.50 50.00% 1,845.00 0.00 R 100 - 41900 -33422 Other State Grants and Aids 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 R 100 - 41900 -34000 Charges for Services 95.00 0.00 0.00 0.00 0.00% 0.00 0.00 R 100-41900-34103 Zoning /Land Use Appl Fee 7,180.00 6,000.00 5,625.00 375.00 6.25% 6,000.00 0.00 R 100 - 41900 -34105 Copies /Maps 108.39 150.00 287.51 0.00 0.00% 300.00 150.00 R 100 - 41900 -34107 Special Assessment Search 50.00 50.00 50.00 0.00 0.00% 50.00 0.00 R 100-41900-34108 TIF Administration 8,500.00 12,000.00 0.00 12,000.00 100.00% 0.00 - 12,000.00 R 100 - 41900 -34405 Clean Up Day Income 708.71 1,000.00 675.00 325.00 32.50% 675.00 - 325.00 R 100- 41900 -36200 Miscellaneous Revenues 18,634.83 2,500.00 7,301.00 0.00 0.00% 10,254.00 7,754.00 Work Comp Ins dividend /Sign permit R 100 - 41900 -36210 Interest Earnings 1,952.93 3,000.00 1,404.68 1,595.32 53.18% 3,000.00 0.00 R 100 - 41900 -36220 Other Rents and Royalties 10,848.00 10,848.00 10,848.00 0.00 0.00% 10,848.00 0.00 Cropland rental R 100 - 41900 -36230 Donations 4,575.00 1,100.00 0.00 1,100.00 0.00% 0.00 - 1,100.00 $ 2,828,622.21 $ 2,696,199.00 $ 1,409,796.09 $ 2,715,578.00 $ 19,379.00 City Hall Operations R 100 - 41941 -34101 Facility Rental 5,890.00 4,500.00 3,112.50 1,387.50 30.83% 4,500.00 0.00 R 100 - 41941 -36200 Miscellaneous Revenues 1,228.80 1,000.00 2,324.66 0.00 0.00% 2,325.00 1,325.00 Mailbox posts, NW Jaycees Donation $ 7,118.80 $ 5,500.00 $ 5,437.16 0.00% $ 6,825.00 $ 1,325.00 Police R 100 - 42100 -33423 Police Aid 45,308.00 47,000.00 0.00 47,000.00 100.00% 47,000.00 0.00 R 100 - 42100 -33424 Police POST Board Train Reimb 3,320.90 3,500.00 0.00 3,500.00 100.00% 3,500.00 0.00 R 100 - 42100 -33620 Other County Grants /Aid 11,939.05 10,000.00 4,770.72 5,229.28 52.29% 10,000.00 0.00 Pass through only R 100 - 42100 -34200 Police Permits 2,417.00 1,500.00 824.00 676.00 45.07% 1,500.00 0.00 R 100 - 42100 -34201 Police Serviced Charges 7,162.50 5,000.00 2,275.00 2,725.00 54.50% 5,000.00 0.00 Pass through only R 100 - 42100 -34202 Police Reports /Fees 756.00 1,500.00 461.00 1,039.00 69.27% 1,500.00 0.00 R 100 - 42100 -34204 Training 120.00 0.00 0.00 0.00 0.00% 0.00 0.00 R 100 - 42100 -35101 Fines 80,337.70 90,000.00 25,127.78 64,872.22 72.08% 45,000.00 - 45,000.00 No Civil Violations in 2013 R 100 - 42100 -36233 Refunds /Reimbursements 0.00 0.00 8,563.13 0.00 0.00% 9,480.90 9,480.90 Injured officer work comp reimbursement $ 155,074.61 $ 158,500.00 $ 42,021.63 $ 122,980.90 $ (35,519.10) Building Inspection R 100 -42400 -32210 Bldg /Plan Review Fees $ 56,020.82 $ 50,000.00 $ 57,269.36 $ (7,269.36) - 14.54% $ 70,000.00 $ 20,000.00 $26,911 of acutal is Public Works Facility permit Public Works R 100 -43100 -33418 Muni State Aid St Maintenance 126,236.00 130,000.00 112,545.90 17,454.10 13.43% 112,546.00 - 17,454.00 R 100 - 43100 -34300 Public Works Permits /Fees 3,930.00 3,000.00 1,635.00 1,365.00 45.50% 2,000.00 - 1,000.00 R 100 -43100 -34301 Dust Control 73,169.84 55,530.00 16,484.42 39,045.58 70.31% 55,530.00 0.00 R 100 -43100 -36200 Miscellaneous Revenues 16,789.20 0.00 1,791.69 0.00 0.00% 1,792.00 1,792.00 $ 220,125.04 $ 188,530.00 $ 132,457.01 # $ 171,868.00 $ (16,662.00) Ice & Snow Removal R 100 - 43125 -36200 Miscellaneous Revenues 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 $ - $ - $ - $ - $ - $ Recycling R 100 - 43232 -33610 County Recycling Grant 14,820.00 14,500.00 0.00 14,500.00 100.00% 14,500.00 0.00 R 100 - 43232 -34400 Recycling 60,531.35 69,000.00 53,061.66 15,938.34 23.10% 60,000.00 - 9,000.00 $ 75,351.35 $ 83,500.00 $ 53,061.66 $ 74,500.00 $ (9,000.00) Parks R 100 -45200 -33422 Other State Grants and Aids 36,221.20 35,823.00 32,599.08 3,223.92 9.00% 32,599.08 - 3,223.92 NW Trails Grant R 100 - 45200 -34101 Facility Rental 1,995.68 1,000.00 1,457.33 - 457.33 - 45.73% 1,457.00 457.00 R 100 - 45200 -36200 Miscellaneous Revenues 62.91 0.00 13,525.00 - 13,525.00 0.00% 13,525.00 13,525.00 $3,500 & $10,000 Equipment Grants $ 42,193.79 $ 36,823.00 $ 47,581.41 $ 47,581.08 $ 10,758.08 Transfers to /from Other Funds R 100 - 49360 -39200 Transfer from Other Fund Total Revenue $ 3,384,506.62 $ 3,219,052.00 $ 1,747,624.32 $ 1,471,427.68 $ 3,209,332.98 $ (9,719.02) 1 of 5 CITY OF CORCORAN 2013 PERFORMANCE REPORT - GENERAL FUND SEVEN MONTHS ENDED JULY 31, 2013 8c. Account Description 2012 Actual 2013 Budget 2013 Actual Amount Remaining % Remaining Year End Forecast Budget vs YEF Comments EXPENSE City Charter E 100-41000-210 Operating Supplies (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41000 -300 Professional Srvs (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 - $ - $ - $ - $ - City Council E 100 - 41100 -100 Wages and Salaries (GENERAL) 6,600.00 6,600.00 3,300.00 3,300.00 50.00% 6,600.00 0.00 E 100-41100-122 FICA 409.20 409.00 204.60 204.40 49.98% 409.00 0.00 E 100-41100-126 Medicare 95.70 96.00 47.85 48.15 50.16% 96.00 0.00 E 100-41100-210 Operating Supplies (GENERAL) 0.00 100.00 0.00 100.00 100.00% 100.00 0.00 E 100-41100-364 Worker's Comp Insurance 32.12 55.00 41.00 14.00 25.45% 41.00 -14.00 $ 7,137.02 $ 7,260.00 $ 3,593.45 $ 7,246.00 $ (14.00) Newspaper /Newsletter/Website E 100 -41130 -351 Newsletter Expenses 4,061.81 4,000.00 3,063.09 936.91 23.42% 4,500.00 500.00 E 100-41130-354 Web Site 700.00 700.00 0.00 700.00 100.00% 700.00 0.00 $ 4,761.81 $ 4,700.00 $ 3,063.09 $ 5,200.00 $ 500.00 City Administrator E 100-41300-100 Wages and Salaries (GENERAL) 92,518.74 93,987.00 56,216.07 37,770.93 40.19% 111,332.36 17,345.36 E 100 - 41300 -121 PERA 6,707.62 6,814.00 4,018.80 2,795.20 41.02% 7,832.75 1,018.75 E 100-41300-122 FICA 5,147.67 5,827.00 3,241.00 2,586.00 44.38% 6,751.90 924.90 E 100 - 41300 -126 Medicare 1,312.31 1,363.00 649.57 713.43 52.34% 1,470.62 107.62 E 100-41300-130 Employer Paid FSA 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100-41300-131 Employer Paid Health 9,914.01 13,817.00 9,350.85 4,466.15 32.32% 17,113.15 3,296.15 E 100-41300-132 Medical Cafeteria Plan -55.40 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41300 -133 Employer Paid H S A 4,099.99 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41300 -140 Unemployment Comp (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41300 -208 Training and Instruction 1,812.60 2,500.00 1,261.00 1,239.00 49.56% 1,239.00 - 1,261.00 E 100-41300-210 Operating Supplies (GENERAL) 491.67 700.00 384.85 315.15 45.02% 700.00 0.00 E 100 - 41300 -364 Worker's Comp Insurance - 683.48 840.00 354.00 486.00 57.86% 840.00 0.00 E 100 - 41300 -433 Dues and Memberships 847.76 900.00 45.00 855.00 95.00% 900.00 0.00 $ 122,113.49 $ 126,748.00 $ 75,521.14 $ 148,179.78 $ 21,431.78 Clerk/Admin E 100 - 41400 -100 Wages and Salaries (GENERAL) 135,247.23 117,112.00 68,290.77 48,821.23 41.69% 126,797.00 9,685.00 E 100- 41400 -110 Overtime 1,827.35 2,000.00 1,687.86 31 2.14 15.61% 2,000.00 0.00 E 100 - 41400 -121 PERA 9,921.71 8,635.00 4,879.34 3,755.66 43.49% 8,635.00 0.00 E 100 - 41400 -122 FICA 8,883.26 7,385.00 4,482.96 2,902.04 39.30% 7,985.00 600.00 E 100 - 41400 -126 Medicare 2,077.60 1,727.00 1,048.35 678.65 39.30% 1,868.00 141.00 E 100-41400-130 Employer Paid FSA 700.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41400 -131 Employer Paid Health 7,636.59 27,634.00 12,279.87 15,354.13 55.56% 19,707.00 - 7,927.00 E 100 - 41400 -132 Medical Cafeteria Plan 12,018.03 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41400 -133 Employer Paid H S A 3,007.84 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41400 -140 Unemployment Comp (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41400 -208 Training and Instruction 829.95 3,500.00 1,335.00 2,165.00 61.86% 1,335.00 - 2,165.00 E 100 - 41400 -210 Operating Supplies (GENERAL) 403.71 500.00 402.84 97.16 19.43% 500.00 0.00 E 100 - 41400 -300 Professional Srvs (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41400 -364 Worker's Comp Insurance 1,215.78 1,411.00 1,064.00 347.00 24.59% 1,064.00 - 347.00 E 100 - 41400 -433 Dues and Memberships 35.00 150.00 70.00 80.00 0.00% 150.00 0.00 $ 183,804.05 $ 170,054.00 $ 95,540.99 $ 170,041.00 $ (13.00) Elections E 100 - 41410 -210 Operating Supplies (GENERAL) $ 6,262.58 $ 5,000.00 $ - $ 5,000.00 100.00% $ 5,000.00 $ - Auditor/Treasurer E 100 - 41540 -300 Professional Srvs (GENERAL) $ 22,160.50 $ 21,700.00 $ 22,152.00 $ (452.00) - 2.08% $ 23,000.00 $ 1,300.00 Assessor E 100 - 41550 -210 Operating Supplies (GENERAL) 929.29 500.00 509.52 (9.52) - 1.90% 1,000.00 500.00 E 100 - 41550 -300 Professional Srvs (GENERAL) 49,284.00 49,284.00 28,749.00 20,535.00 41.67% 49,284.00 0.00 $ 50,213.29 $ 49,784.00 $ 29,258.52 $ 50,284.00 $ 500.00 Attorney E 100 - 41600 -300 Professional Srvs (GENERAL) 22,352.59 30,000.00 21,803.56 8,196.44 23.42% 30,000.00 0.00 $ 22,352.59 $ 30,000.00 $ 21,803.56 $ 30,000.00 $ - Other General Government E 100 - 41900 -210 Operating Supplies (GENERAL) 31.25 0.00 3,286.90 - 3,286.90 0.00% 3,287.00 3,287.00 2012 Crop Land tax E 100 - 41900 -300 Professional Srvs (GENERAL) 21,040.50 0.00 42,594.40 - 42,594.40 0.00% 42,594.00 42,594.00 $23,591 Sewer Planning Fees to moved to Utility fund E 100 - 41900 -360 Insurance (GENERAL) 18,806.00 45,000.00 54,412.00 - 9,412.00 - 20.92% 54,412.00 9,412.00 E 100 - 41900 -433 Dues and Memberships 24,454.47 24,000.00 19,821.13 4,178.87 17.41% 24,000.00 0.00 2 of 5 CITY OF CORCORAN 2013 PERFORMANCE REPORT - GENERAL FUND SEVEN MONTHS ENDED JULY 31, 2013 8c. Account Description 2012 Actual 2013 Budget 2013 Actual Amount Remaining % Remaining Year End Forecast Budget vs YEF Comments $ 64,332.22 $ 69,000.00 $ 120,114.43 $ 124,293.00 $ 55,293.00 Planning & Zoning E 100 - 41910 -210 Operating Supplies (GENERAL) 0.00 0.00 303.77 (303.77) 0.00% 300.00 300.00 E 100 - 41910 -300 Professional Srvs (GENERAL) 41,785.46 32,000.00 30,714.57 1,285.43 4.02% 50,000.00 18,000.00 $ 41,785.46 $ 32,000.00 $ 31,018.34 $ 50,300.00 $ 18,300.00 Code Enforcement E 100 - 41920 -100 Wages and Salaries (GENERAL) 7,543.20 39,419.00 22,671.23 16,747.77 42.49% 39,419.00 0.00 E 100-41920-110 Overtime 0.00 1,000.00 266.43 733.57 73.36% 500.00 - 500.00 E 100 - 41920 -121 PERA 502.91 2,930.00 1,604.90 1,325.10 45.23% 2,930.00 0.00 E 100 - 41920 -122 FICA 445.39 2,506.00 1,595.97 910.03 36.31% 2,506.00 0.00 E 100-41920-126 Medicare 104.19 586.00 373.24 212.76 36.31% 586.00 0.00 E 100-41920-130 Employer Paid FSA 0.00 350.00 0.00 350.00 100.00% 350.00 0.00 E 100 - 41920 -131 Employer Paid Health 13,467.00 3,713.13 9,753.87 72.43% 6,240.00 - 7,227.00 E 100-41920-132 Medical Cafeteria Plan 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 -41920 -208 Training and Instruction 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41920 -210 Operating Supplies (GENERAL) 1,054.14 1,500.00 333.01 1,166.99 77.80% 1,500.00 0.00 E 100 - 41920 -417 Uniforms 100.00 100.00 100.00 0.00 0.00% 100.00 0.00 $ 10,275.51 $ 61,858.00 $ 30,657.91 $ 54,131.00 $ (7,727.00) City Hall Operations E 100 - 41941 -200 Office Supplies (GENERAL) 1,978.10 3,000.00 1,549.54 1,450.46 48.35% 3,000.00 0.00 E 100 - 41941 -201 Postage /Shipping 1,628.25 2,500.00 1,474.56 1,025.44 41.02% 2,500.00 0.00 E 100- 41941 -207 Computer Supplies 2,423.59 3,000.00 1,913.55 1,086.45 36.22% 3,000.00 0.00 E 100 - 41941 -210 Operating Supplies (GENERAL) 12,496.89 9,500.00 8,857.45 642.55 6.76% 10,500.00 1,000.00 E 100 - 41941 -300 Professional Srvs (GENERAL) 15,385.05 7,000.00 4,665.15 2,334.85 33.36% 7,000.00 0.00 E 100 - 41941 -321 Telephone 2,182.22 3,000.00 1,462.41 1,537.59 51.25% 3,000.00 0.00 E 100 - 41941 -352 General Notices and Pub Info 2,234.88 2,000.00 2,170.69 - 170.69 -8.53% 2,500.00 500.00 E 100 - 41941 -364 Worker's Comp Insurance 0.00 438.00 0.00 438.00 100.00% 0.00 - 438.00 E 100-41941-380 Utility & Services (GENERAL) 12,832.53 14,500.00 9,253.85 5,246.15 36.18% 14,500.00 0.00 E 100 - 41941 -400 Repairs & Maint Cont (GENERAL) 9,816.79 4,000.00 5,502.77 - 1,502.77 - 37.57% 9,000.00 5,000.00 $4,000 cleaning service E 100 - 41941 -430 Misc. Banking Charge 64.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 41941 -520 Buildings and Structures 0.00 4,000.00 3,028.81 971.19 0.00% 4,000.00 0.00 E 100 - 41941 -810 Refunds /Reimbursements 0.00 0.00 302.77 - 302.77 0.00% 0.00 0.00 $ 61,042.30 $ 52,938.00 $ 40,181.55 $ 59,000.00 $ 6,062.00 IT (Info Technology) E 100 - 41951 -207 Computer Supplies 7,580.31 7,500.00 5,535.49 1,964.51 26.19% 7,500.00 0.00 E 100 - 41951 -210 Operating Supplies 0.00 4,500.00 1,252.45 3,247.55 72.17% 4,500.00 0.00 E 100 - 41951 -300 Professional Srvs 0.00 6,000.00 3,341.30 2,658.70 44.31% 6,000.00 0.00 E 100-41951-530 Improvements Other Than Bldg 0.00 7,000.00 8,309.09 - 1,309.09 - 18.70% 9,000.00 2,000.00 $2,000 from Jaycee's donation 100 - 41941 -36200 $ 7,580.31 $ 25,000.00 $ 18,438.33 $ 27,000.00 $ 2,000.00 Police E 100 - 42100 -100 Wages and Salaries (GENERAL) 507,594.11 515,852.00 288,962.54 226,889.46 43.98% 515,852.00 0.00 E 100 - 42100 -110 Overtime 1,506.73 9,500.00 3,762.37 5,737.63 60.40% 7,500.00 - 2,000.00 E 100 - 42100 -111 Overtime Events /Grants 10,756.14 15,000.00 7,194.52 7,805.48 52.04% 15,000.00 0.00 See 100 -42101 -111 E 100 - 42100 -121 PERA 74,894.25 77,570.00 42,646.63 34,923.37 45.02% 77,570.00 0.00 E 100 - 42100 -126 Medicare 7,615.33 7,811.00 4,442.64 3,368.36 43.12% 7,811.00 0.00 E 100 - 42100 -130 Employer Paid FSA 608.66 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 42100 -131 Employer Paid Health 34,814.94 79,134.00 46,985.64 32,148.36 40.63% 79,134.00 0.00 E 100 - 42100 -132 Medical Cafeteria Plan 30,739.96 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 42100 -133 Employer Paid H S A 11,486.15 11,297.00 0.00 11,297.00 100.00% 11,297.00 0.00 E 100 - 42100 -200 Office Supplies (GENERAL) 5,236.99 5,000.00 2,312.64 2,687.36 53.75% 5,000.00 0.00 E 100 - 42100 -201 Postage /Shipping 354.44 500.00 123.09 376.91 75.38% 250.00 - 250.00 E 100 - 42100 -208 Training and Instruction 11,010.16 10,000.00 9,043.37 956.63 9.57% 10,000.00 0.00 E 100 - 42100 -209 Police Reserves 3,119.83 3,500.00 2,537.86 962.14 27.49% 3,500.00 0.00 E 100-42100-210 Operating Supplies (GENERAL) 4,185.49 3,500.00 2,565.94 934.06 26.69% 3,500.00 0.00 E 100 - 42100 -212 Motor Fuels 39,114.51 34,000.00 20,336.30 13,663.70 40.19% 40,000.00 6,000.00 E 100 - 42100 -220 Repair /Maint Supply (GENERAL) 13,397.30 8,000.00 6,033.37 1,966.63 24.58% 8,000.00 0.00 E 100 - 42100 -223 Building Repair Supplies 3,710.63 3,000.00 2,485.59 514.41 17.15% 3,000.00 0.00 E 100 - 42100 -300 Professional Srvs (GENERAL) 40.00 500.00 0.00 500.00 100.00% 250.00 - 250.00 E 100 - 42100 -301 Prisoner 5,370.25 8,000.00 7,967.24 32.76 0.41% 10,000.00 2,000.00 E 100 - 42100 -304 Legal Fees 25,868.76 30,000.00 20,380.56 9,619.44 32.06% 25,000.00 - 5,000.00 E 100 - 42100 -321 Telephone 7,244.77 7,200.00 3,823.21 3,376.79 46.90% 7,200.00 0.00 E 100 -42100 -323 Radio Units 11,420.06 15,300.00 8,911.14 6,388.86 41.76% 15,300.00 0.00 E 100 - 42100 -364 Worker's Comp Insurance 7,455.55 24,000.00 14,817.00 9,183.00 38.26% 14,817.00 - 9,183.00 E 100 - 42100 -380 Utility & Services (GENERAL) 2,140.77 4,000.00 2,097.63 1,902.37 47.56% 4,000.00 0.00 E 100 - 42100 -417 Uniforms 7,768.09 8,460.00 6,438.60 2,021.40 23.89% 8,460.00 0.00 E 100 -42100 -433 Dues and Memberships 870.00 1,000.00 1,470.00 - 470.00 - 47.00% 1,470.00 470.00 3 of 5 CITY OF CORCORAN 2013 PERFORMANCE REPORT - GENERAL FUND SEVEN MONTHS ENDED JULY 31, 2013 8c. Account Description 2012 Actual 2013 Budget 2013 Actual Amount Remaining % Remaining Year End Forecast Budget vs YEF Comments $ 828,323.87 $ 882,124.00 $ 505,337.88 $ 873,911.00 $ (8,213.00) Part Time Officers E 100 - 42101 -100 Wages and Salaries (GENERAL) 75,071.69 78,100.00 49,718.30 28,381.70 36.34% 82,600.00 4,500.00 Additional 200 hours unfunded FT injury on duty E 100 - 42101 -111 Overtime Events /Grants 6,353.46 0.00 1,800.00 - 1,800.00 0.00% 0.00 0.00 Contractural events /Safe and Sober events. Budgeted 42100 -111 E 100 - 42101 -121 PERA 1,850.54 2,500.00 1,219.98 1,280.02 51.20% 2,500.00 0.00 E 100- 42101 -122 FICA 4,251.67 4,842.00 2,668.78 2,173.22 44.88% 4,842.00 0.00 E 100- 42101 -126 Medicare 1,180.68 1,132.00 746.94 385.06 34.02% 1,132.00 0.00 E 100 - 42101 -140 Unemployment Comp (GENERAL) 0.00 0.00 0.00 0.00 0.00% 0.00 0.00 $ 88,708.04 $ 86,574.00 $ 56,154.00 $ 91,074.00 $ 4,500.00 Police Admin E 100 - 42102 -100 Wages and Salaries (GENERAL) 39,514.84 42,328.00 23,016.82 19,311.18 45.62% 42,328.00 0.00 E 100 - 42102 -110 Overtime 14.51 500.00 0.00 500.00 100.00% 500.00 0.00 E 100 - 42102 -121 PERA 2,877.90 3,105.00 1,648.12 1,456.88 46.92% 3,105.00 0.00 E 100 -42102 -122 FICA 2,671.35 2,655.00 1,544.09 1,110.91 41.84% 2,655.00 0.00 E 100 -42102 -126 Medicare 624.78 621.00 361.14 259.86 41.85% 621.00 0.00 E 100 - 42102 -130 Employer Paid FSA 350.00 0.00 0.00 - 0.00% 0.00 0.00 E 100 - 42102 -131 Employer Paid Health 1,391.55 6,510.00 3,934.51 2,575.49 39.56% 6,510.00 0.00 E 100 - 42102 -132 Medical Cafeteria Plan 4,158.70 0.00 - 0.00% 0.00 0.00 $ 51,603.63 $ 55,719.00 $ 30,504.68 $ 55,719.00 $ - Fire E 100 - 42200 -300 Professional Srvs (GENERAL) 242,082.72 250,000.00 156,235.85 93,764.15 37.51% 221,481.00 - 28,519.00 $ 242,082.72 $ 250,000.00 $ 156,235.85 0.00% $ 221,481.00 $ (28,519.00) Building Inspection E 100 - 42400 -300 Professional Srvs (GENERAL) 9,421.02 15,000.00 8,926.16 6,073.84 40.49% 15,000.00 0.00 E 100 - 42400 -437 Surcharges 1,726.95 2,500.00 166.90 2,333.10 93.32% 2,500.00 0.00 $ 11,147.97 $ 17,500.00 $ 9,093.06 $ 17,500.00 $ - Public Works E 100 - 43100 -100 Wages and Salaries (GENERAL) 269,477.33 279,203.00 144,595.82 134,607.18 48.21% 265,907.00 - 13,296.00 E 100 - 43100 -110 Overtime 17,020.37 19,380.00 17,608.38 1,771.62 9.14% 18,116.00 - 1,264.00 E 100 -43100 -121 PERA 20,838.97 21,647.00 11,526.28 10,120.72 46.75% 20,683.00 - 964.00 E 100-43100-122 FICA 16,694.60 18,512.00 9,335.44 9,176.56 49.57% 17,688.00 - 824.00 E 100 - 43100 -126 Medicare 3,954.17 4,329.00 2,133.48 2,195.52 50.72% 4,136.00 - 193.00 E 100 - 43100 -130 Employer Paid FSA 700.00 0.00 0.00 0.00 0.00% 0.00 0.00 E 100- 43100 -131 Employer Paid Health 42,763.31 69,085.00 33,362.88 35,722.12 51.71% 57,269.00 - 11,816.00 E 100 - 43100 -132 Medical Cafeteria Plan 8,177.36 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 43100 -133 Employer Paid H S A 10,281.32 0.00 0.00 0.00 0.00% 0.00 0.00 E 100 - 43100 -140 Unemployment Comp (GENERAL) 0.00 0.00 4,056.51 - 4,056.51 0.00% 4,056.51 4,056.51 E 100- 43100 -208 Training and Instruction 3,739.00 4,000.00 1,820.00 2,180.00 54.50% 4,000.00 0.00 E 100 - 43100 -210 Operating Supplies (GENERAL) 21,090.53 20,000.00 12,460.25 7,539.75 37.70% 20,000.00 0.00 E 100 - 43100 -212 Motor Fuels 37,194.51 32,000.00 22,854.29 9,145.71 28.58% 40,000.00 8,000.00 E 100 - 43100 -220 Repair /Maint Supply (GENERAL) 22,146.83 20,000.00 9,871.38 10,128.62 50.64% 20,000.00 0.00 E 100 - 43100 -222 Seal Coating 40,285.50 50,000.00 0.00 50,000.00 100.00% 50,000.00 0.00 E 100 - 43100 -223 Building Repair Supplies 332.23 4,500.00 1,898.76 2,601.24 57.81% 4,500.00 0.00 E 100 - 43100 -225 Landscape /Ditch Materials 9,178.62 10,000.00 10,251.51 - 251.51 - 2.52% 10,000.00 0.00 E 100 - 43100 -226 Sign Repair Materials 4,149.14 6,000.00 202.59 5,797.41 96.62% 4,000.00 - 2,000.00 E 100 -43100 -227 Crack Filling 12,564.17 10,000.00 9,426.38 573.62 5.74% 9,500.00 - 500.00 E 100 -43100 -228 Dust Control 94,301.45 100,000.00 99,096.26 903.74 0.90% 100,000.00 0.00 E 100 - 43100 -229 Culverts 11,132.49 13,000.00 0.00 13,000.00 100.00% 6,000.00 - 7,000.00 Assuming no major failures E 100 - 43100 -232 Gravel 117,765.32 130,000.00 114,846.53 15,153.47 11.66% 125,000.00 - 5,000.00 E 100 - 43100 -233 Asphalt Maint/Patching 143,633.95 130,000.00 2,141.40 127,858.60 98.35% 130,000.00 0.00 E 100 -43100 -300 Professional Srvs (GENERAL) 2,100.00 2,100.00 2,216.00 - 116.00 -5.52% 2,100.00 0.00 E 100 - 43100 -321 Telephone 5,005.41 5,600.00 2,452.62 3,147.38 56.20% 5,600.00 0.00 E 100 -43100 -364 Worker's Comp Insurance 20,996.21 15,076.00 17,399.00 - 2,323.00 -15.41% 17,399.00 2,323.00 E 100- 43100 -380 Utility & Services (GENERAL) 7,726.11 9,000.00 5,227.86 3,772.14 41.91% 9,000.00 0.00 E 100 - 43100 -381 Street/Signal Lights 2,142.23 3,500.00 2,184.37 1,315.63 37.59% 3,500.00 0.00 E 100 - 43100 -417 Uniforms 5,873.64 7,000.00 2,693.32 4,306.68 61.52% 7,000.00 0.00 $ 951,264.77 $ 983,932.00 $ 539,661.31 $ 955,454.51 $ (28,477.49) Ice & Snow Removal E 100 - 43125 -210 Operating Supplies (GENERAL) $ 23,935.01 $ 29,000.00 $ 15,104.40 $ 13,895.60 47.92% $ 29,000.00 $ - Engineeering E 100 -43170 -300 Professional Srvs (GENERAL) $ 53,364.97 $ 40,000.00 $ 30,894.13 $ 9,105.87 22.76% $ 40,000.00 $ - Employee Benefit Chgs E 100 - 43190 -300 Professional Srvs (GENERAL) 0.00 3,000.00 0.00 $ 3,000.00 100.00% $ 3,000.00 $ - 4 of 5 CITY OF CORCORAN 2013 PERFORMANCE REPORT - GENERAL FUND SEVEN MONTHS ENDED JULY 31, 2013 8c. Account Description 2012 Actual 2013 Budget 2013 Actual Amount Remaining % Remaining Year End Forecast Budget vs YEF Comments Recycling E 100 - 43232 -210 Operating Supplies (GENERAL) 826.95 1,000.00 796.92 203.08 20.31% 1,000.00 0.00 E 100 - 43232 -300 Professional Srvs (GENERAL) 64,742.64 69,000.00 39,955.16 29,044.84 42.09% 69,000.00 0.00 $ 65,569.59 $ 70,000.00 $ 40,752.08 $ 70,000.00 $ - Parks E 100- 45200 -100 Wages and Salaries (GENERAL) 17,205.28 27,345.00 14,884.60 12,460.40 45.57% 27,345.00 0.00 E 100 - 45200 -110 Overtime 477.00 0.00 318.75 - 318.75 0.00% 0.00 0.00 E 100 - 45200 -122 FICA 1,097.84 1,695.00 941.08 753.92 44.48% 1,695.00 0.00 E 100 - 45200 -126 Medicare 256.76 397.00 220.11 176.89 44.56% 397.00 0.00 E 100 - 45200 -210 Operating Supplies (GENERAL) 8,561.82 8,000.00 20,428.13 - 12,428.13 - 155.35% 24,000.00 16,000.00 $3,500 and $10,000 grant 100 - 45200 -36200 E 100 - 45200 -220 Repair /Maint Supply (GENERAL) 751.97 1,100.00 293.93 806.07 73.28% 1,100.00 0.00 E 100 - 45200 -221 Maintenance Projects 13,592.11 15,000.00 9,951.54 5,048.46 33.66% 15,000.00 0.00 E 100 - 45200 -321 Telephone 613.84 700.00 379.04 320.96 45.85% 700.00 0.00 E 100 -45200 -364 Worker's Comp Insurance - 1,815.18 4,493.00 947.00 3,546.00 78.92% 4,493.00 0.00 E 100 -45200 -380 Utility & Services (GENERAL) 4,571.52 7,100.00 3,664.39 3,435.61 48.39% 7,100.00 0.00 E 100 - 45200 -530 Improvements Other Than Bldgs 36,221.20 35,823.00 32,599.08 3,223.92 9.00% 32,599.08 - 3,223.92 NW Trails Grant $ 81,534.16 $ 101,653.00 $ 84,627.65 $ 114,429.08 $ 12,776.08 Total Expense $ 3,001,355.86 $ 3,175,544.00 $ 1,959,708.35 $ 3,225,243.37 $ 49,699.37 GENERAL FUND TOTALS Total Revenue $ 3,384,506.62 $ 3,219,052.00 $ 1,747,624.32 $ 3,209,332.98 $ (9,719.02) Total Expense $ 3,001,355.86 $ 3,175,544.00 $ 1,959,708.35 $ 3,225,243.37 $ 49,699.37 Total Revenue - Total Expense $ 383,150.76 $ 43,508.00 $ (212,084.03) $ (15,910.39) $ (59,418.39) 5 of 5 STAFF REPORT Document No. 2b. Council Meeting: August 29, 2013 Prepared By: Brad Martens Topic: 2014 Budget and Updated Financial Plan Action Required: Direction General Levy Summary: At the August 13, 2013 City Council Work Session the City Council was presented circumstances affecting the 2014 budget and a very draft budget plan that included a $229,221 or 7.8% levy increase. Since that time staff has revised the budget to its current state which includes a $179,208 or 6.1% increase for 2014. This budget is attached to this report. Also attached to this report is a Draft Updated Five Year Financial Plan which includes a 6% levy increase for 2014. Some items of note include: • The Fund Balance was increased by $194,000 in 2012 well over the $5,000 planned contribution. • No contribution to the Fund Balance is projected for 2013 or 2014. The previous Five Year Financial Plan projected a contribution of $10,000 in 2013 and $328,851 in 2014. • The planned TIF contribution of $247,379 in 2014 has been removed due to Council direction to spend those funds elsewhere. • The timeline to reach a Fund Balance of 35% has been extended. • The Sources and Uses of Funds listed have been projected from the past Five Year Financial Plan and do not reflect actual numbers. Staff requests the City Council review the attached documents and provides staff with direction on what levy amount to bring back to the City Council for review at the September 12, 2013 City Council meeting in order to set the Preliminary Levy. Once the Preliminary Levy is set the levy can be decreased but not increased. Financial /Budget Options: 1. Direct staff on what amendments should be made to the 2014 budget. 2. Other. 2013 Draft 2014 Difference General Levy $2,604,456 $2,750,525 $146,069 Debt Levy $330,281 $363,420 $33,139 Total Levy $2,934,737 $3,113,945 $179,208 Options: 1. Direct staff on what amendments should be made to the 2014 budget. 2. Other. Page 2 Recommendation: N/A Council Action: Direct staff on what amendments should be made to the 2014 budget. Attachments: 1. Draft 2014 Budget 2. Draft Updated Five Year Financial Plan 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 4 CITY HALL DEPARTMENTS COMMENTS 5 City Council 6 41100 -100 Wages & Salaries 6,600 6,600 6,600 6,600 $ - 7 41100 -122 FICA / SS 409 409 409 409 $ - 8 41100 -126 Medicare 96 96 96 96 $ - 9 41100 -210 Operating Expense 285 - 100 100 $ - 10 41100 -364 Workers' Compensation 32 55 46 $ (9) 11 Total City Council 7,390 7,137 7,260 7,251 $ 9 12 13 News Letter/Website 14 41130 -351 News letter, Misc literature 3,714 4,062 4,000 4,000 $ - 16 41130 -354 Website 700 700 700 700 $ - 17 Total Newsletter & Web 4,414 4,762 4,700 4,700 $ - 18 19 Elections 20 41410 -210 Operating Supplies 1,122 6,263 5,000 5,000 $ - 21 Total Elections 1,122 6,263 5,000 5,000 $ - 22 23 Auditor 24 41540 -300 Professional Services 16,612 16,675 17,700 18,250 $ 550 25 Financial Services 5,958 5,486 4,000 6,000 $ 2,000 26 28 Total Auditor 22,570 22,161 21,700 24,250 $ 2,550 29 30 Assessor 31 41550 -210 Operating Supplies 760 929 500 1,000 $ 500 32 41550 -300 Professional Services 49,284 49,284 49,284 52,788 $ 3,504 New contract 33 Total Assessor 50,044 50,213 49,784 53,788 $ 4,004 34 35 Attorney 36 41600 -300 Professional Services 32,972 22,353 30,000 30,000 $ - 37 Total City Attorney 32,972 22,353 30,000 30,000 $ - 38 39 City Charter 40 41000 -210 Operating Supplies 235 - - - $ - 41 41000 -300 Professional Services - - - $ - 42 Total City Charter 235 - - - $ - 43 44 Other General Government 48 41900 -210 Operating Supplies 31 3,255 $ - Crop land tax 49 41900 -300 Professional Srvs - 21,041 - - $ - 50 41900 -321 Telephone - - - - $ - 51 41900 -360 Insurance 42,717 18,806 45,000 57,000 $ 12,000 5% increase from 2013 actual 52 41900 -430 Misc Banking Charges - - $ - 53 41900 -433 Dues & Memberships 22,207 24,454 24,000 25,552 $ 1,552 54 $ 2,425 Metro Cities 55 $ 13,625 Elm Creek Watershed 56 $ 2,385 NWHHS 57 $ 4,817 LMC 58 $ 508 Home Free 59 $ 1,800 Community Mediation 60 41900 -810 Refunds /Reimbursements - - $ - 61 Total Other Government 64,924 64,332 69,000 82,552 $ 13,552 62 2b. 1 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 63 Planning & Zoning 64 41910 -300 Professional Services 60,590 41,728 32,000 50,000 $ 18,000 66 Total Planning & Zoning 60,590 41,728 32,000 50,000 $ 18,000 67 68 City Hall Operating Expenses 69 41941 -200 Office Supplies 2,563 1,978 3,000 3,000 $ - 70 41941 -201 Postage /Shipping 2,025 1,628 2,500 2,500 $ - 71 41941 -207 Computer / Copier Supplies 5,073 2,424 3,000 3,000 $ - 72 41941 -210 Operating Supplies 14,208 12,497 9,500 12,500 $ 3,000 Cintas, Zep, Adams, Wilmar Water 73 41941 -300 Professional Services 10,832 15,385 7,000 7,000 $ - Admin fees (Paychex„ US Bank) 74 41941 -321 Telephone 3,065 2,182 3,000 3,000 $ - 75 41941 -352 Gen. Notices Public Hearing information 1,632 2,235 2,000 2,500 $ 500 Crow River News 76 41941 -364 Workers Comp Insur. (Misc. Vol. Commissioners Staff) 1 - 438 14 $ (424) 77 41941 -380 Utilities / Outside Services 14,904 12,833 14,500 14,500 $ - Center Point, Randys, Wright Henn Elec, Wright Henn Security 78 41941 -400 Repairs /Maintenance Bldg. 7,060 9,817 4,000 8,500 $ 4,500 Cleaning Service 79 41941 -430 Misc. Banking Charge - 64 - - $ - 80 41941 -520 Buildings & Structures - 4,000 4,000 $ - Facility 81 41941 -810 Refunds /Reimbursements - $ - 82 Total City Hall Operating 61,362 61,042 52,938 60,514 $ 7,576 83 84 IT Technology 86 41951 -207 Computer / Supplies 6,295 7,580 7,500 7,500 $ - Annual license renewal 87 41951 -210 Operating Supplies 4,500 4,500 $ - Hardware /Software 88 41951 -300 Professional Supplies 6,000 6,000 $ - Managed services 89 41951 -530 Facility Assets 7,000 - $ (7,000) No Project for 2014 90 Total IT Technology 6,295 7,580 25,000 18,000 $ (7,000) 91 92 Engineering 94 43170 -300 Professional Services 68,388 53,365 40,000 40,000 $ - 95 Total Engineering 68,388 53,365 40,000 40,000 $ - 96 97 Fire 98 42200 -300 Professional Services 247,090 242,083 250,000 250,000 $ - Estimate 99 42200 -550 Motor Vehicles 11,258 - - - $ - 100 42200 -580 Safety Inspections 676 - - - $ - New -Start inspection program 101 Total Fire Services 259,023 242,083 250,000 250,000 $ - 102 103 Building Inspections 104 42400 -300 Professional Services 48,461 9,421 15,000 15,000 $ - 105 42400 -437 Surcharges 2,995 1,727 2,500 2,500 $ - 106 Total Building Inspections 51,457 11,148 17,500 17,500 $ - 107 108 Recycling 109 43232 -210 Operating Supplies 1,839 827 1,000 1,000 $ - 110 43232 -300 Professional Services 71,176 64,743 69,000 69,000 $ - 111 Total Recycling 73,016 65,570 70,000 70,000 $ - 112 113 GRAND TOTAL CITY HALL 763,802 659,736 674,882 713,555 38,673 114 115 City Administrator 116 41300 -100 Wages & Salaries 87,623 92,519 93,987 91,780 $ (2,207) 117 41300 -121 PERA 6,353 6,708 6,814 6,654 $ (160) 118 41300 -122 FICA / SS 4,857 5,148 5,827 5,690 $ (137) 119 41300 -126 Medicare 1,129 1,312 1,363 1,331 $ (32) 120 41300 -130 Employer Paid FSA - - 350 - $ (350) 121 41300 -131 Employer Paid Health 13,223 13,959 13,467 16,370 $ 2,903 2b. 2 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 122 41300 -132 Medical Cafeteria Plan - - - $ - 123 41300 -133 Employer Paid HSA - $ - 124 41300 -140 Unemployment Compensation - - - $ - 125 41300 -208 Training 2,668 1,813 2,500 3,650 $ 1,150 126 41300 -210 Operating Supplies 837 492 700 700 $ - 127 41300 -300 Professional Services - - - - $ - 128 41300 -364 Workers' Compensation 709 (683) 840 809 $ (31) 129 $ 111 MN City /County Managers 130 $ 738 ICMA 131 41300 -433 Dues & Memberships 871 848 900 700 $ (200) 132 Grand Total City Administrator 118,270 122,114 126,748 127,684 $ 936 133 134 City Clerk / Administrative Staff 135 41400 -100 Wages & Salaries 123,369 135,247 117,112 121,271 $ 4,159 136 41400 -110 Overtime 194 1,827 2,000 2,000 $ - 137 41400 -121 PERA 8,912 9,922 8,635 8,937 $ 302 138 41400 -122 FICA / SS 8,312 8,883 7,385 7,643 $ 258 139 41400 -126 Medicare 1,933 2,078 1,727 1,787 $ 60 140 41400 -130 Employer Paid FSA - $ - 141 41400 -131 Employer Paid Health 24,309 23,363 27,634 30,420 $ 2,786 142 41400 -132 Medical Cafeteria $ - 143 41400 -133 Employer Paid H S A $ - 144 41400 -140 Unemployment Compensation - $ - 145 41400 -208 Training 1,044 830 3,500 2,500 $ (1,000) $1,000 moved to Code Enforcement 146 41400 -210 Operating Supplies 396 404 500 500 $ - 148 41400 -364 Workers' Compensation Insurance 1,293 1,216 1,411 1,041 $ (370) 149 41400 -433 Dues & Memberships 60 35 150 150 $ - 150 Grand Total Admin Staff 169,821 183,804 170,054 176,249 $ 6,195 151 152 Code Enforcement 153 41920 -100 Wages & Salaries 5,514 7,543 39,419 45,678 $ 6,259 154 41920 -110 Overtime - - 1,000 1,000 $ - 155 41920 -121 PERA 400 503 2,930 3,384 $ 454 156 41920 -122 FICA / SS 341 445 2,506 2,894 $ 388 157 41920 -126 Medicare 80 104 586 677 $ 91 158 41920 -130 FSA Employer - - $ - 159 41920 -131 Health Insurance - - 13,817 15,210 $ 1,393 160 41920 -140 Unemployment Compensation - $ - 161 41920 -208 Training - 1,000 $ 1,000 162 41920 -210 Operating Supplies 595 1,054 1,500 1,500 $ - 163 41920 -300 Professional Srvs - 526 - - $ - 164 41920 -331 Vehicle Expense - $ - 165 41920 -344 Public Hearing Notices - $ - 166 41920 -364 Workers' Compensation - 401 $ 401 167 41920 -417 Uniform - 100 100 150 $ 50 168 41920 -433 Dues & Membership - - - 100 $ 100 169 Grand Total Code Enforcement 6,930 10,276 61,858 71,894 $ 10,036 170 171 Employee Benefit Charges 172 43190 -300 Professional Services 3,000 3,000 $ - Wage and Benefits Market Study 173 Total Employee Benefit Chgs 3,000 3,000 $ - 174 175 Transfers to /from Other Funds 176 49360 -710 Residual Equity Transfer $ - 177 49360 -720 Operating Transfers $ - 178 $ - 179 Grand Total Administration 1,058,823 975,930 1,036,542 1,092,383 55,841 2b. 3 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 180 181 PUBLIC WORKS 182 PERSONNEL SERVICES 183 43100 -100 Full -time - Regular 285,064 269,477 279,203 285,440 $ 6,237 184 43100 -110 Full -time - Overtime 19,345 17,020 19,380 19,380 $ - Includes $1,000 for Country Daze 185 43100 -121 PERA 20,926 20,839 21,647 22,099 $ 452 186 43100 -122 FICA / SS 16,239 16,695 18,512 18,899 $ 387 187 43100 -126 Medicare 3,772 3,954 4,329 4,420 $ 91 188 43100 -130 Employer Paid FSA - $ - 189 43100 -131 Employer Paid Health 57,845 61,921 69,085 76,050 $ 6,965 190 43100 -132 Medical Cafeteria - $ - 191 43100 -133 Employer Paid H S A - $ - 193 43100 -140 Unemployment Compensation - - $ - 194 43100 -364 Workers' Compensation Insurance 13,419 20,996 15,076 25,971 $ 10,895 195 43100 -417 Uniforms 6,920 5,874 7,000 7,000 $ - 196 Total Public Works Personnel 423,531 416,777 434,232 459,259 25,026 197 198 OPERATING EXPENSES 199 43100 -200 Office Supplies - $ - 200 43100 -208 Training and Instruction 1,863 3,739 4,000 4,000 $ - 201 43100 -210 Operating Supplies 15,583 21,091 20,000 20,000 $ - 202 43100 -212 Motor Fuels 39,943 37,195 32,000 37,000 $ 5,000 203 43100 -220 Repair/ Main. Supplies 86,507 22,147 20,000 20,000 $ - 204 43100 -223 Building Repair 7,752 332 4,500 4,500 $ - 205 43100 -300 Professional Services 2,100 2,100 2,100 2,100 $ - 206 43100 -321 Telephone 4,386 5,005 5,600 6,000 $ 400 Cost of phone service in new building undetermined at this time 207 43100 -360 Insurance - - $ - 208 43100 -380 Utility services 8,884 7,726 9,000 15,000 $ 6,000 Utilities for new and old Public Works sites 209 43100 -810 Refunds /Reimbursements $ - 210 Total PW Misc. 167,019 99,335 97,200 108,600 11,400 211 212 CITY OPERATING SERVICES 213 43100 -222 Seal Coating 50,088 40,286 50,000 50,000 $ - 214 43100 -225 Land Scape /Ditch Maintenance 11,923 9,179 10,000 10,000 $ - 215 43100 -226 Sign Repair Material 5,502 4,149 6,000 6,000 $ - 216 43100 -227 Crack Filling 15,338 12,564 10,000 10,000 $ - 217 43100 -228 Dust Control 98,033 94,301 100,000 110,000 $ 10,000 10% contract increase 218 43100 -229 Culverts 10,120 11,132 13,000 10,000 $ (3,000) 220 43100 -231 Drain Tile - - $ - 221 43100 -232 Gravel 95,049 117,765 130,000 130,000 $ - 222 43100 -233 Asphalt /Maintenance patching 123,719 143,634 130,000 130,000 $ - 223 43100 -381 Signal Lights /street lights 2,624 2,142 3,500 3,500 $ - 224 Total PW Operating 412,396 435,153 452,500 459,500 7,000 225 226 PARKS PERSONNEL SERVICES 227 45200 -100 Wages and Salaries 14,480 17,205 27,345 29,425 $ 2,080 228 45200 -110 Overtime - 477 - $ - 229 45200 -121 PERA - - - $ - 230 45200 -122 FICA / SS 843 1,098 1,695 1,824 $ 129 231 45200 -126 Medicare 197 257 397 427 $ 30 232 45200 -130 Employer Paid FSA - - - $ - 233 45200 -131 Employer Paid Health - - - $ - 234 45200 -364 Workers' Compensation Insurance 3,799 (1,815) 4,493 1,189 $ (3,304) 235 Total Parks Personnel 19,319 17,222 33,930 32,865 (1,065) 236 2b. 4 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 237 PARKS OPERATING EXPENSES 238 45200 -210 Operating Supplies 6,822 9,314 9,100 10,000 $ 900 Combined with Repair /Maint 45200 -220 240 45200 -221 Maintenance Project 10,352 13,592 15,000 15,000 $ - 241 45200 -300 Professional Services - $ - 242 45200 -321 Telephone 750 614 700 700 $ - 243 45200 -380 Utility services 4,437 4,572 7,100 8,000 $ 900 244 45200 -530 Improvements Other than Bldg 35,823 36,221 35,823 35,823 $ - NW Trails Snowmobile Club expense $35,823 245 45200 -810 Refunds /Reimbursements - $ - 246 Total Parks Operating 58,183 64,312 67,723 69,523 1,800 247 248 Total Parks 77,502 81,534 101,653 102,388 735 249 250 Ice & Snow Removal 251 43125 -210 Snow and Ice Removal 21,412 23,935 29,000 29,000 $ - Salt and Sand 252 Total Snow & Ice 21,412 23,935 29,000 29,000 - 253 254 GRAND TOTAL PUBLIC WORKS & PARKS 1,101,860 1,056,733 1,114,585 1,158,747 44,162 2b. 5 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 255 256 POLICE 257 PERSONNEL SERVICES 258 POLICE 259 42100 -100 Wages (Union) 479,168 507,594 334,681 345,433 $ 10,752 2% COLA & Corporal Vacancy Filled 260 42100 -101 Salaries 181,171 184,794 $ 3,623 261 42100 -110 Overtime 11,251 1,507 9,500 7,000 $ (2,500) Includes $1,000 for Country Daze /Lieutenant not eligible for OT or 262 42100 -111 Overtime Events 13,762 10,756 15,000 15,000 $ - Pass thru funds only /no Motocross/ No Rockin Rogers 263 42100 -121 PERA 72,689 74,884 77,570 83,853 $ 6,283 City Contribution increase - 14.4 % to 15.3% 264 42100 -122 FICA / SS - 11 $ - 265 42100 -126 Medicare 7,507 7,615 7,811 7,947 $ 136 266 42100 -130 Employer Paid FSA 414 - $ - 267 42100 -131 Employer Paid Health 36,189 77,650 90,431 99,201 $ 8,770 268 42100 -132 Medical Cafeteria 35,027 - $ - 269 42100 -133 Employer Paid H S A 11,126 - $ - 270 42100 -134 Employer Paid HRA - - $ - 271 42100 -364 Workers' Compensation 25,287 7,456 24,000 25,920 $ 1,920 LMC Estimate 5% - 10% increase 272 TOTAL 692,419 687,472 740,164 769,148 $ 28,984 273 274 PART TIME 275 42101 -100 Wages and Salaries 65,047 75,072 78,100 78,100 $ - 277 42101 -111 Overtime Events 3,548 6,353 - - $ - Pass thru only -PT officer works events if no full time officer available -funds from 42100 -111 278 42101 -121 PERA 1,955 1,851 2,500 2,500 $ - 279 42101 -122 FICA / SS 1,958 4,252 4,842 4,842 $ - 280 42101 -126 Medicare 982 1,181 1,132 1,132 $ - 281 42101 -140 Unemployment Comp 5,141 - $ - 282 TOTAL 78,631 88,708 86,574 86,574 $ - 283 284 POLICE ADMIN 285 42102 -100 Wages and Salaries 37,639 39,515 42,328 45,011 $ 2,683 286 42102 -110 Overtime - 15 500 500 $ - 287 42102 -121 PERA 2,738 2,878 3,105 3,300 $ 195 PT officers who are employed as full time at home agency are PERA eligible 288 42102 -122 FICA / SS 2,617 2,671 2,655 2,822 $ 167 289 42102 -126 Medicare 608 625 621 660 $ 39 290 42102 -130 Employer Paid FSA 350 350 350 - $ (350) 291 42102 -131 Employer Paid Health 1,324 1,392 3,430 6,950 $ 3,520 292 42102 -132 Medical Cafeteria 5,125 4,159 2,730 - $ (2,730) 293 TOTAL 50,401 51,604 55,719 59,243 $ 3,524 294 295 SUPPLIES 296 42100 -200 Office Supplies 4,300 5,237 5,000 5,000 $ - 297 42100 -201 Postage 647 354 500 250 $ (250) 298 42100 -208 Training Classes and Supplies 12,125 11,010 10,000 10,000 $ - 299 42100 -209 Police Reserves Equipment 3,707 3,120 3,500 3,500 $ - 300 42100 -210 Patrol Supplies 2,950 4,185 3,500 4,000 $ 500 301 42100 -212 Motor Fuels 40,336 39,115 34,000 37,000 $ 3,000 302 42100 -417 Clothing and Uniforms 6,709 7,768 8,460 9,460 $ 1,000 303 42100 -433 Dues and Memberships 790 870 1,000 1,200 $ 200 304 42100 -810 Refunds /Reimbursements - $ - 305 TOTAL 71,564 71,660 65,960 70,410 $ 4,450 306 307 CONTRACTUAL SERVICES 308 42100 -220 Maintenance - Motor Vehicle 8,962 13,397 8,000 8,000 $ - 309 42100 -223 Building Maintenance and Repairs 2,405 3,711 3,000 3,000 $ - 310 42100 -300 Professional - Animal Control 586 40 500 250 $ (250) 2b. 6 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 311 42100 -301 Prisoner - Professional Fees 4,966 5,370 8,000 8,000 $ - 312 42100 -304 Legal Services 34,238 25,869 30,000 27,500 $ (2,500) 313 42100 -321 Telephone 5,917 7,245 7,200 7,200 $ - 314 42100 -323 Radio Units 12,161 11,420 15,300 15,300 $ - 315 42100 -380 Utility Services / Civil Defense /Emergency Management 3,999 2,141 4,000 4,000 $ - 316 TOTAL 73,234 69,193 76,000 73,250 $ (2,750) 317 318 GRAND TOTAL POLICE 966,249 968,636 1,024,417 1,058,625 34,208 319 320 321 COMBINED DEPARTMENT TOTAL EXPENDITURES 3,126,932 3,001,299 3,175,544 3,309,754 134,210 2b. 7 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 322 323 Debt Service 324 Equipment Certificate Fund 325 331 Principal & Interest -2008 264,478 220,170 208,726 99,661 332 Principal & Interest -2010 61,833 333 Principal & Interest -2012 44,555 334 Total Principal & Interest 206,049 335 Required 5% overage 13,224 11,009 10,436 10,302 336 Total 277,702 231,179 219,162 216,351 $ (2,811) 344 345 Facility Expansion (PD) #307 & #407 348 Principal & Interest 41,830 41,412 40,828 41,178 349 Required 5% Overage 2,092 2,071 2,041 2,059 350 Total 43,922 43,483 42,869 43,237 $ 368 351 352 Facility Expansion (Public Works) 2012B 353 Principal & Interest 65,000 98,888 $ 33,888 354 Required 5% Overage 3,250 4,944 $ 1,694 355 Total 68,250 103,832 $ 35,582 356 362 363 COMBINED DEBT SERVICE EXPENDITURES 321,623 274,662 330,281 363,420 $ 33,139 364 2b. 8 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 365 REVENUES 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 366 GENERAL FUND REVENUE 367 368 GENERAL GOVERNMENT $ - 369 41900 -31810 Cable Franchise Fee 37,253 38,196 35,000 35,000 $ - 370 41900 -32110 Liquor Licenses Fees 18,260 18,270 18,250 18,250 $ - 371 41900 -33402 Homestead Credit - 10,543 $ - 372 41900 -33403 Mobile Homestead Credit - $ - 373 41900 -33420 AG Preserve Credit 4,789 5,825 $ - 374 41900 -33421 PERA State Aid 1,845 1,845 1,845 1,845 $ - 375 41900 -33422 Other Grants and Aid 17,370 - $ - 376 41900 -34000 Charges for Services 65 95 $ - 377 41900 -34103 Zoning / Subdivision Fees 6,265 7,180 6,000 6,000 $ - 378 41900 -34105 Copies / Maps 152 108 150 150 $ - 379 41900 -34107 Assessment Search 75 50 50 50 $ - 380 41900 -34108 TIF Administrative Fees 8,000 8,500 12,000 - $ (12,000) 382 41900 -34405 Clean up day Income 1,060 709 1,000 675 $ (325) 383 41900 -36200 Miscellaneous Revenue 7,695 18,635 2,500 2,500 $ - 384 41900 -36210 Interest Earnings 4,071 1,953 3,000 3,000 $ - 385 41900 -36217 Sale of Assets - - $ - 386 41900 -36220 Rents / Royalties 7,812 10,848 10,848 10,848 $ - Crop Rentals 387 41900 -36230 Donations 1,175 4,575 1,100 1,000 $ (100) 388 41900 -36233 Refunds /Reimbursements - - $ - 392 CITY HALL OPERATIONS $ - 393 41941 -34100 General Government $ - 394 41941 -34101 Facility Rental 4,443 5,890 4,500 4,500 $ - 395 41941 -36200 Miscellaneous Revenue 2,778 1,229 1,000 1,000 $ - 396 PUBLIC SAFETY $ - 397 42100 -32240 Animal Licenses - - - - $ - 398 42100 -33423 Police Town Aid 46,565 45,308 47,000 47,000 $ - 399 42100 -33424 Police Training & POST 3,787 3,321 3,500 3,500 $ - 400 42100 -33620 Other Grants and Aid /Safe & Sober 11,248 11,939 10,000 10,000 $ - Pass through only - Local traffic project 401 42100 -34200 Police Permits 1,755 2,417 1,500 1,500 $ - 402 42100 -34201 Police Service Charge 5,848 7,163 5,000 5,000 $ - 403 42100 -34202 Police Reports / Misc. Fees 1,086 756 1,500 1,500 $ - 404 42100 -34204 Police Training - 120 - - $ - 405 42100 -35101 Fines 106,500 80,338 90,000 50,000 $ (40,000) 406 42100 -36200 Miscellaneous Revenue - 3,713 - - $ - 407 42100 -36230 Donations 1,345 - - - $ - 408 42100 -36233 Refunds /Reimbursements - $ - 409 BUILDING INSPECTION $ - 410 42400 -32210 Building Permit Fees 83,590 56,021 50,000 50,000 $ - 411 PUBLIC WORKS $ - 412 43100 -33418 MSA Road Maint. Fund 129,364 126,236 130,000 125,000 $ (5,000) 413 43100 -34300 Public Works Permits / Fees 3,845 3,930 3,000 3,000 $ - 414 43100 -34301 Dust Control 78,888 73,170 55,530 55,530 $ - Council direction 415 43100 -36100 Special Assessments - $ - 416 43100 -36200 Miscellaneous Revenue 72,521 16,789 - - $ - 417 43100 -36233 Refunds /Reimbursements - - - $ - 418 ICE & SNOW REMOVAL $ - 419 43125 -36200 Miscellaneous Revenue 8,010 - - $ - 420 RECYCLING $ - 421 43232 -33610 County Recycling Grant 14,551 14,820 14,500 14,500 $ - 422 43232 -34400 Recycling Income 70,965 60,531 69,000 64,000 $ (5,000) 423 43232 -36200 Miscellaneous Revenue $ - 2b. 9 1 CITY OF CORCORAN REV 4 08/20/13 DRAFT 2 2014 3 LINE ITEM CODE DESCRIPTION OF EXPENDITURE 2011 ACTUAL 2012 ACTUAL 2013 BUDGET 2014 BUDGET BUDGET DIFFERENCE 2013/2014 424 PARKS $ - 425 45200 -33422 Other State Grant 35,823 36,221 35,823 35,823 $ - Snowmobile trail grant 426 45200 -34101 Facility Rental 1,311 1,996 1,000 1,000 $ - 427 45200 -36200 Miscellaneous Revenue 45 63 $ - 428 45200 -36230 Donations 1,320 3,914 - - $ - 429 45200 -36233 Refunds /Reimbursements - $ - 430 TRANSFERS TO /FROM OTHER FUNDS $ - 431 49360 -39200 Transfer from Other Fund - $ - 432 433 TOTAL OTHER REVENUES 801,473 683,217 614,596 552,171 (62,425) 434 435 41900 -31020 Delinquent Property Taxes 40,730 38,239 $ - 436 41900 -31040 Fiscal Disparities 205,805 189,473 - - $ - 437 41900 -33422 Local Government Aid 7,058 $ 7,058 438 41900 -31100 General Property Taxes (Levy amount) 2,124,825 2,284,105 2,604,456 2,750,525 $ 146,069 439 440 TOTAL PROPERTY TAX REVENUE 2,371,360 2,511,817 2,604,456 2,757,583 $ 153,127 2014 GPT Levy + 2014 LGA 441 442 TOTAL DEBT SERVICE TAX LEVY 321,623 274,662 330,281 363,420 $ 33,139 2014 Bond schedule x 5% 443 444 TOTAL ALL REVENUES 3,494,457 3,469,695 3,549,333 3,673,174 $ 123,841 445 446 TOTAL ALL EXPENSES 3,448,556 3,275,960 3,505,826 3,673,174 $ 167,349 447 448 449 REVENUE - EXPENSE 45,901 193,735 43,507 (0) 450 451 452 Estimated Year End Reserve 43,507 (0) $ - TOTAL CERTIFIED LEVY 2,732,455 2,781,119 2,934,737 3,113,945 2b. 10 MEMORANDUM NORTHLAND STRATEGIES Special Projects Group To: Brad Martens, City of Corcoran From: Tammy Omdal Date: August 21, 2013 Re: Preliminary Reports for Financial Management Plan Please find attached to this memorandum the preliminary draft financial reports you requested. I have not completed a full update of the adopted 2012 Financial Management Plan Report (the "2012 Report"). You had asked that I wait on preparing a final update to the 2012 Report until you are able to review and confirm key assumptions with the Mayor and City Council. Changes to assumptions will impact the future projected financial results shown in these draft reports. The updated Financial Management Plan Report that will be prepared will provide conclusions and recommendations, which are not included as part of this memorandum. The attached draft financial reports for preliminary discussion purposes are based on the following preliminary key assumptions, as we discussed: 1. Property Tax Levy Assume a 6.5% increase in tax levy (general fund and debt service combined) from 2013 to 2014; and a 3.0% annual increase for future years. 2. Fund Balance Policy Assume the City will not levy additional dollars for year 2014 for the purpose of achieving compliance with the Fund Balance Policy. The Financial Management Plan adopted in 2012 assumed the City would levy an additional $90,000 for taxes payable in year 2014 for cash flow purposes. 3. Interfund Loans Assume the City will write -off the interfund loan payable from the Infrastructure Planning Fund and the Shannon Lane Fund in the combined amount of $274,415 over a period of 15 years. The City will transfer funds from the General Fund to the two other funds annually in the approximate combined amount of $18,000 per year for 15 years. 4. Tax Increment Funds Assume the City will use all of the available tax increment for eligible project costs and will not return tax increment to the County for redistribution. The prior Financial Management Plan adopted in 2012, assumed the City would return tax increment for redistribution; it was estimated the General Fund would receive $247,379 in cash from redistribution of funds in year 2014. Northland Securities, Inc. 45 South 7th Street, Suite 2000, Minneapolis, MN 55402 Toll Free 1- 200 - 851 -2920 Main 612 - 851 -5900 www.northlandsecurities.com Member FINRA and SIPC Preliminary Reports for Financial Management Plan August 21, 2013 Page 2 5. Fines and Forfeiture Assume $40,000 per year in annual revenue recorded to the General Fund. Prior assumption was for about $90,000 per year. The other key factors listed below are the same as used for the development of the 2012 Report and are as follows: 6. Operating Expense Assume 2.0% annual increase in operating expense 7. Non - Property Tax Revenue Assume 1.5% annual increase in non - property tax revenue, with the exception of the future utility fees estimated to increase 3% annually 8. Fiscal Disparities Assume fiscal disparities distribution of property taxes and contribution of property tax capacity to be at the same levels as for Pay 2013 for the purpose of estimating property tax rate. The actual amounts for fiscal disparities will vary by year and will impact the projections for future property tax rates. 9. Debt Service Assume future debt service on bonds to be issued, based on the City's capital improvement plan, will be structured to limit the annual increase in property tax levy. Once these key assumptions and other budget decisions are finalized we can then prepare a full update to the Financial Management Plan Report for consideration by the Mayor and City Council for adoption. Fund Balance by Fund Type ATTACHMENT PAGE 1 City of Corcoran Projected Year End Fund Balance by Fund Category Comparison of Projections from 2012 Financial Management Plan to 2013 DRAFT Financial Management Plan 2012 2013 2014 2015 2016 2017 All Funds - 2012 Report 6,029,032 2,673,636 1,869,859 1,990,403 2,135,390 2,284,871 All Funds - 2013 Draft Report 6,623,343 3,394,785 388,117 646,316 981,201 1,337,108 difference 594,312 721,149 (1,481,742) (1,344,087) (1,154,189) (947,763) General Fund - 2012 Report 754,245 764,245 1,093,096 1,194,567 1,316,039 1,437,510 General Fund - 2013 Draft Report 942,753 936,709 911,458 885,957 919,262 953,494 difference 188,508 172,464 (181,637) (308,611) (396,777) (484,016) TIF Fund - 2012 Report 1,689,165 1,327,265 TIF Fund - 2013 Draft Report 1,603,223 1,882,618 difference (85,942) 555,353 Debt Service Funds - 2012 Report 52,753 52,953 53,156 53,360 53,567 53,775 Debt Service Funds - 2013 Draft Report 129,131 138,115 155,623 173,133 190,645 208,159 difference 76,379 85,162 102,467 119,773 137,078 154,383 Spec Revenue Funds - 2012 Report 52,014 59,314 66,737 74,284 81,957 89,756 Special Revenue Funds - 2013 Draft Report 32,795 32,898 33,002 33,107 33,213 33,320 difference (19,219) (26,416) (33,735) (41,177) (48,744) (56,436) Capital Projects Fund - 2012 Report 3,480,855 485,855 509,384 532,912 556,441 579,969 Capital Projects Fund - 2013 Draft Report 3,915,441 420,441 (1,837,065) (1,813,770) (1,790,476) (1,767,182) difference 434,586 (65,414) (2,346,448) (2,346,682) (2,346,917) (2,347,151) Utility Fund - 2012 Report - (15,996) 147,488 135,279 127,387 123,860 Utility Fund - 2013 Draft Report - (15,996) 1,125,099 1,367,890 1,628,557 1,909,317 difference - - 977,612 1,232,611 1,501,170 1,785,457 Notes: Year 2013 - Fund balance is projected to be greater due to delay in use of tax increment funds and General Fund ended 2012 with a greater increase in fund balance than anticipated in the 2012 Report. Year 2014 to 2017 - Fund balance is projected to be greater due to the anticipated developer payments in the new Utility Fund. The revenue will be needed to support future project expenditures. 8/21/2013 01 4ORII ILAN JJ S "I RAI EGI ES Spacial PeoJacrs ,0,,i 8/21/2013 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran Summary of Projected Property Tax Levy, Tax Capacity, and Tax Rates ATTACHMENT PAGE 2 Notes: - Assumed valuation growth in tax capacity beginning in 2014 of 0.5 percent annually. 0.50% - TIP District No. 1 will be decertified in 2013, eliminating the reduction to the City's gross tax capacity (TC) and increasing available net tax capacity for general city levy purposes. - Analysis assumes no change to fiscal disparities over planning horizon. The actual amount of distribution /contribution for fiscal disparities will vary by year from what is shown here - Annual Percent Change in Levy, Before Fiscal Disparities: 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 General Fund 3.9% 5.6% 1.2% 4.2% 0.3% 7.596 0.6% 3.4% 3.9% 3.5% 3.9% Debt Service 20.3% 10.0% 16.9% -5.0% 22.6% -23.6% 22.5% 0.4% -3.0% -0.8% -4.1% Total Change in Certified Levy before Fiscal Disp 5.5% 6.1% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% RESIDENTIAL COMMERCIAL 2013 2014 Prel Total Market Value City Tax City Tax 200,000 833 974 140 266,000 1,165 1,361 196 341,000 1,542 1,802 260 416,000 1,918 2,241 323 491,000 2,264 2,645 381 566,000 3,262 3,811 549 641,000 3,694 4,316 622 Total Market Value 1,000,000 2013 2014 Cif Tax Citv Tax 8,876 10,370 1,495 - Tax capacity for residential example assumes homestead and market value exclusion applies for market values less than $413,800. Fiscal disparity distribution and contribution amounts for Pay 2014 are assumed at Pay 2013 amounts. Final figures were not available for this analysis. Gross tax capacity estimate for Pay 2014 is from Hennepin County TMV report Report No. PI318201 dated 7/31/2013. 0 i.T�.a.Peue„ u....e Certified Projected Property Tax Levy by Payable Year 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 General Fund 2,506,458 2,604,456 2,749,365 2,781,458 2,898,946 2,906,902 3,125,877 3,145,987 3,252,625 3,378,209 3,496,847 3,633,375 Debt Service 274,661 330,281 363,420 424,710 403,407 494,521 377,590 462,583 464,202 450,122 446,335 428,102 Total Property Tax Levy 2,781,119 2,934,737 3,112,785 3,206,168 3,302,353 3,401,424 3,503,466 3,608,570 3,716,827 3,828,332 3,943,182 4,061,477 Less Fiscal Disparities Distribution* 191,613 177,518 177,518 177,518 177,518 177,518 177,518 177,518 177,518 177,518 177,518 177,518 Net Spread Levy 2,589,506 2,757,219 2,935,267 3,028,650 3,124,835 3,223,906 3,325,948 3,431,052 3,539,309 3,650,814 3,765,664 3,883,959 annual % change 2.6% 6.5% 6.5% 3.2% 3.2% 32% 32% 3.2% 32% 3.2% 3.1% 3.1% Tax Capacity (TC) by Payable Year Gross Tax Capacity (TC) 7,137,207 6,581,178 5,848,294 5,877,535 5,906,923 5,936,458 5,936,458 5,936,458 5,936,458 5,936,458 5,936,458 5,936,458 Less Tran Line 3,251 3,159 3,251 3,251 3,251 3,251 3,251 3,251 3,251 3,251 3,251 3,251 Less Fiscal Disparities TC* 379,798 396,426 396,426 396,426 396,426 396,426 379,798 379,798 379,798 379,798 379,798 379,798 Less Tax Increment TC 217,416 201,558 - - - - - - - - - - NetTaxCapacity 6,536,742 5,980,035 5,448,617 5,477,858 5,507,246 5,536,781 5,553,409 5,553,409 5,553,409 5,553,409 5,553,409 5,553,409 annual % change -4.1% -8.5% -8.9% 0.5% 0.5% 0.5% 0.3% 0.0% 0.0% 0.0% 0.096 0.0% Tax Rate 0.3961 0.4611 0.5387 0.5529 0.5674 0.5823 0.5989 0.6178 0.6373 0.6574 0.6781 0.6994 annual % changes 7.0% 16.4% 16.8% 2.6% 2.6% 2.6% 2.9% 3.2% 32% 3.2% 3.1% 3.1% EXPLANATION OF CHANGES IN LEVY: General Fund (GF) Personnel 51,098 7,606 33,258 33,924 34,602 35,294 36,000 36,720 37,454 38,203 38,968 Other (Supplies, Oth Sery Chg) 108,385 16,685 145,936 6,920 32,705 (19,510) 32,969 (11,723) 74,118 92,357 36,724 37,458 Capital outlay (5,039) 746 761 776 791 807 823 840 857 874 891 Subtotal GF Operations 108,385 62,744 154,288 40,939 67,405 15,884 69,070 25,101 111,678 130,668 75,801 77,317 GF Cash Flow (46,044) (19,206) (251) 58,807 928 158,891 4,132 4,218 4,314 52,376 68,893 GF Transfers - 18,294 - - - - - - - - - Less Changes in Other NonTax Rev 81,298 (8,467) (8,595) (8,723) (8,854) (8,987) (9,122) (9,259) (9,398) (9,539) (9,682) Total General Fund 108,385 97,998 144,909 32,093 117,488 7,957 218,974 20,111 106,637 125,585 118,638 136,528 Debt Service Equipment Certificates (existing) (62,019) (105) (21,616) (20,503) (1,624) (100,482) 1,288 (831) (56,885) (788) (45,788) Equipment Certificates (new) - 49,389 - 43,306 - 53,938 - 25,605 - 25,605 - 25,605 Public Works Facility - 68,250 24,722 39,600 (800) 38,800 (16,450) 58,100 2,450 17,200 (3,000) 1,950 Total Debt Service - 55,620 24,617 61,291 (21,303) 91,114 (116,932) 84,993 1,620 (14,080) (3,788) (18,232) Total Annual Change in Spread Levy 108,385 153,618 169,526 93,384 96,185 99,071 102,043 105,104 108,257 111,505 114,850 118,295 Notes: - Assumed valuation growth in tax capacity beginning in 2014 of 0.5 percent annually. 0.50% - TIP District No. 1 will be decertified in 2013, eliminating the reduction to the City's gross tax capacity (TC) and increasing available net tax capacity for general city levy purposes. - Analysis assumes no change to fiscal disparities over planning horizon. The actual amount of distribution /contribution for fiscal disparities will vary by year from what is shown here - Annual Percent Change in Levy, Before Fiscal Disparities: 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 General Fund 3.9% 5.6% 1.2% 4.2% 0.3% 7.596 0.6% 3.4% 3.9% 3.5% 3.9% Debt Service 20.3% 10.0% 16.9% -5.0% 22.6% -23.6% 22.5% 0.4% -3.0% -0.8% -4.1% Total Change in Certified Levy before Fiscal Disp 5.5% 6.1% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% RESIDENTIAL COMMERCIAL 2013 2014 Prel Total Market Value City Tax City Tax 200,000 833 974 140 266,000 1,165 1,361 196 341,000 1,542 1,802 260 416,000 1,918 2,241 323 491,000 2,264 2,645 381 566,000 3,262 3,811 549 641,000 3,694 4,316 622 Total Market Value 1,000,000 2013 2014 Cif Tax Citv Tax 8,876 10,370 1,495 - Tax capacity for residential example assumes homestead and market value exclusion applies for market values less than $413,800. Fiscal disparity distribution and contribution amounts for Pay 2014 are assumed at Pay 2013 amounts. Final figures were not available for this analysis. Gross tax capacity estimate for Pay 2014 is from Hennepin County TMV report Report No. PI318201 dated 7/31/2013. 0 i.T�.a.Peue„ u....e PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN All Funds Five Year Financial Plan ATTACHMENT PAGE 3 Fund Balance Goal per Policy 1,875,855 1,624,671 4,674,968 5,137,844 1,708,036 -63.5% (399,966) (326,910) (254,236) (199,378) (123,049) Fund Balance in Excess (Shortfall) 2,490,333 2,692,475 1,438,945 1,485,499 1,686,748 17.2% 788,083 973,226 1,235,437 1,536,487 1,969,381 A NORTHLAND STRATEGIES Sp•elal Proj.e r4 pfoOD Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service 497,747 478,711 460,680 455,455 474,836 3.1% 199,844 226,737 255,772 287,001 320,408 Assessments 16,325 8,463 - 3,611 - 0.0% - 293,284 293,284 293,284 293,284 Redistribution of TIF - - - - - 0.0% - - - - - Liceneses and permits 95,626 101,850 78,200 74,291 80,000 2.3% 81,200 82,418 83,654 84,909 86,183 Intergovernmental 392,849 258,581 253,711 473,258 210,000 - 17.2% 213,150 216,347 219,592 222,886 226,230 Investment Income 51,203 29,796 52,500 21,281 19,862 - 62.2% 8,427 30,978 35,884 41,149 41,815 Fines and forfeitures 110,388 108,006 90,000 80,338 40,000 -55.6% 40,600 41,209 41,827 42,455 43,091 Cable franchise fees 34,674 37,253 32,000 38,196 35,000 9.4% 35,525 36,058 36,599 37,148 37,705 Misc - Other 138,342 150,389 60,207 93,984 31,500 -47.7% 1,413,403 415,676 427,536 439,744 452,312 Delinq property taxes - - - - - 0.0% - - - - - Bond proceeds 806,454 - 4,316,503 4,410,000 106,000 -97.5% 4,724,382 240,000 369,500 115,000 115,000 Sale of capital assets - - - 49,163 - 0.0% - - - - - Transfer in from other funds 46,573 5,000 - - - 0.0% 18,294 18,294 18,294 18,294 18,294 Subototal Non Property Tax Funds 2,190,181 1,178,049 5,343,801 5,699,577 997,198 - 81.3% 6,734,825 1,601,002 1,781,943 1,581,870 1,634,323 Property tax levy 2,651,573 2,694,987 2,781,119 2,792,303 2,934,737 5.5% 3,112,785 3,206,168 3,302,353 3,401,424 3,503,466 Total Source of Funds 4,841,754 3,873,036 8,124,920 8,491,880 3,931,935 -51.6% 9,847,610 4,807,171 5,084,296 4,983,293 5,137,789 Use of Funds: Personnel Services 1,485,007 1,508,530 1,604,216 1,545,940 1,655,314 3.2% 1,712,920 1,747,679 1,783,147 1,819,341 1,856,274 Supplies 572,641 585,124 627,300 638,877 651,655 3.9% 664,688 677,981 691,541 652,503 665,553 Other services and charges 1,071,645 930,107 861,229 842,496 869,744 1.0% 1,003,381 1,118,987 1,157,534 1,197,506 1,261,857 Capital outlay 1,062,083 487,909 2,968,826 2,796,788 3,662,284 23.4% 8,944,920 297,971 428,339 174,723 175,624 Debt service 285,965 405,408 261,582 361,582 321,497 22.9% 510,075 688,059 670,556 765,020 650,963 Transfer out to other funds 46,573 5,000 5,000 - - 0.0% 18,294 18,294 18,294 18,294 18,294 Total Use of Funds 4,523,914 3,922,078 6,328,153 6,185,683 7,160,494 13.2% 12,854,277 4,548,972 4,749,411 4,627,386 4,628,565 Net Change in fund balance 317,840 (49,042) 1,796,768 2,306,197 (3,228,558) - 279.7% (3,006,667) 258,198 334,885 355,907 509,224 Ending Fund Balance 4,366,188 4,317,146 6,113,914 6,623,343 3,394,785 - 44.5% 388,117 646,316 981,201 1,337,108 1,846,332 Ending Cash Balance 4,435,442 4,409,525 6,206,293 6,569,457 3,443,758 - 44.5% 473,679 768,466 1,139,940 1,532,436 2,059,954 Fund Balance Goal per Policy 1,875,855 1,624,671 4,674,968 5,137,844 1,708,036 -63.5% (399,966) (326,910) (254,236) (199,378) (123,049) Fund Balance in Excess (Shortfall) 2,490,333 2,692,475 1,438,945 1,485,499 1,686,748 17.2% 788,083 973,226 1,235,437 1,536,487 1,969,381 A NORTHLAND STRATEGIES Sp•elal Proj.e r4 pfoOD PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN General Fund Five Year Financial Plan ATTACHMENT PAGE 4 Fund Balance Goal per Policy 1,082,986 1,069,760 1,089,290 1,050,477 1,111,250 2.0% 1,171,654 1,185,983 1,209,574 1,215,133 1,239,308 Fund Balance in Excess (Shortfall) (384,063) (320,690) (300,220) (107,724) (174,542) -41.9% (260,196) (300,026) (290,312) (261,639) (92,690) *Due from Capital Project Funds 8/21/2013 274,415 274,415 NOR 'C 111..ANII ti'1'Ii:1Tf.C:ll.s So• 1 P. 0,4 IS G.oUp 256,121 237,826 219,532 201,238 182,943 Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service 190,859 182,448 150,680 170,619 190,000 26.1% 192,850 195,743 198,679 201,659 204,684 Assessments 275 - - 0.0% - - - - - Redistribution of TIF 0.0% - Liceneses and permits 95,626 101,850 78,200 74,291 80,000 2.3% 81,200 82,418 83,654 84,909 86,183 Intergovernmental 229,412 257,393 253,711 250,233 210,000 -17.2% 213,150 216,347 219,592 222,886 226,230 Investment Income 4,439 4,068 6,000 1,965 3,000 - 50.0% 3,045 3,091 3,137 3,184 3,232 Fines and forfeitures 110,388 108,006 90,000 80,338 40,000 - 55.6% 40,600 41,209 41,827 42,455 43,091 Cable franchise fees 34,674 37,253 32,000 38,196 35,000 9.4% 35,525 36,058 36,599 37,148 37,705 Misc - Other 92,067 36,278 35,207 61,762 6,500 - 81.5% 6,598 6,696 6,797 6,899 7,002 Delinq property taxes 0.0% Bond proceeds - 0.0% - - - - Sale of capital assets 0.0% Transfer in from other funds 16,426 5,000 - - 0.0% - Subototal Non Property Tax Funds 774,166 732,296 645,798 677,404 564,500 -12.6% 572,968 581,562 590,285 599,140 608,127 Property tax levy 2,351,310 2,374,309 2,506,458 2,517,642 2,604,456 3.9% 2,749,365 2,781,458 2,898,946 2,906,902 3,125,877 Total Source of Funds 3,125,476 3,106,605 3,152,256 3,195,046 3,168,956 0.5% 3,322,332 3,363,020 3,489,231 3,506,042 3,734,004 Use of Funds: Personnel Services 1,485,007 1,508,530 1,604,216 1,545,940 1,655,314 3.2% 1,662,920 1,696,179 1,730,102 1,764,704 1,799,998 Supplies 572,641 585,124 627,300 638,877 651,655 3.9% 664,688 677,981 691,541 652,503 665,553 Other services and charges 926,196 907,295 838,417 779,993 830,748 -0.9% 963,651 957,277 976,422 995,951 1,015,870 Capital outlay 105,560 55,509 42,323 36,553 37,284 - 11.9% 38,030 38,790 39,566 40,357 41,165 Debt service 0.0% - - - - - Transfer out to other funds 4,842 - - - 0.0% 18,294 18,294 18,294 18,294 18,294 Total Use of Funds 3,094,246 3,056,458 3,112,256 3,001,363 3,175,000 2.0% 3,347,583 3,388,522 3,455,926 3,471,810 3,540,880 Net Change in fund balance 31,230 50,147 40,000 193,683 (6,044) - 115.1% (25,250) (25,502) 33,305 34,232 193,123 Ending Fund Balance 698,923 749,070 789,070 942,753 936,709 18.7% 911,458 885,957 919,262 953,494 1,146,618 Ending Cash Balance* 439,658 504,683 544,683 672,744 666,700 22.4% 659,744 652,536 704,136 756,662 949,786 Fund Balance Goal per Policy 1,082,986 1,069,760 1,089,290 1,050,477 1,111,250 2.0% 1,171,654 1,185,983 1,209,574 1,215,133 1,239,308 Fund Balance in Excess (Shortfall) (384,063) (320,690) (300,220) (107,724) (174,542) -41.9% (260,196) (300,026) (290,312) (261,639) (92,690) *Due from Capital Project Funds 8/21/2013 274,415 274,415 NOR 'C 111..ANII ti'1'Ii:1Tf.C:ll.s So• 1 P. 0,4 IS G.oUp 256,121 237,826 219,532 201,238 182,943 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN Tax Increment Fund Five Year Financial Plan ATTACHMENT PAGE 5 Needed Fund Balance 10,000 8.2% Fund Balance in Excess (Shortfall) 2,874,396 3,013,165 1,739,165 1,593,223 1,882,618 0.0% Notes: Estimated available tax increment is estimated to be spent as follows in 2014: Land acquisition 175,000 Administrative (planning) 20,000 Administrative (other) 10,000 DT utility improvements 1,677,618 Total 1,882,618 8/21/2013 NOKSPILANC5 ATfG1ES 1..,141 •$ *4.S$• frfwss Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 Source of Funds: Tax Increment 299,645 286,325 300,000 277,911 277,911 -7.4% Assessments 0.0% - - - - Redistribution of TIF 0.0% - - - - Liceneses and permits 0.0% - - - - Intergovernmental (Met Council) 973 1,188 223,025 0.0% - - - - Investment Income 35,693 20,655 36,000 11,484 11,484 -68.1% - - Fines and forfeitures 0.0% - - - - Cable franchise fees 0.0% - - - - Misc - Other 0.0% - - - Delinq property taxes 0.0% Bond proceeds 0.0% Sale of capital assets 0.0% Transfer in from other funds 0.0% - - - - Subototal Non Property Tax Funds 336,311 308,168 336,000 512,420 289,395 -13.9% - - - - Property tax levy 0.0% Total Source of Funds 336,311 308,168 336,000 512,420 289,395 -13.9% - - - - Use of Funds: Personnel Services - - 0.0% - - - - Supplies - - 0.0% - - - - Other services and charges 0.0% - - Capital outlay (project costs) 101,482 169,399 1,610,000 1,922,362 10,000 -99.4% 1,882,618 - - Debt service 0.0% - - - - Transfer out to other funds - - 0.0% - - Total Use of Funds 101,482 169,399 1,610,000 1,922,362 10,000 -99.4% 1,882,618 - - - Net Change in fund balance 234,829 138,769 (1,274,000) (1,409,942) 279,395 - 121.9% (1,882,618) - - - Ending Fund Balance 2,874,396 3,013,165 1,739,165 1,603,223 1,882,618 8.2% - - - - Ending Cash Balance 2,899,640 3,043,768 1,769,768 1,500,364 1,882,618 6.4% - - - - Needed Fund Balance 10,000 8.2% Fund Balance in Excess (Shortfall) 2,874,396 3,013,165 1,739,165 1,593,223 1,882,618 0.0% Notes: Estimated available tax increment is estimated to be spent as follows in 2014: Land acquisition 175,000 Administrative (planning) 20,000 Administrative (other) 10,000 DT utility improvements 1,677,618 Total 1,882,618 8/21/2013 NOKSPILANC5 ATfG1ES 1..,141 •$ *4.S$• frfwss 8/21/2013 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN Debt Service Funds Five Year Financial Plan ATTACHMENT PAGE 6 0 NORTHLAND] STRATEGIES Special. Proppclf erpup Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service 0.0% - - - - - Assessments - 0.0% - 186,489 186,489 186,489 186,489 Redistribution of TIF 0.0% - Liceneses and permits 0.0% - - - - - Intergovernmental 0.0% - - - - - Investment Income 402 173 200 8,055 200 0.0% 202 204 206 208 210 Fines and forfeitures 0.0% - - - - - Cable franchise fees 0.0% - - - - - Misc - Other 0.0% - - - - - Delinq property taxes 0.0% Bond proceeds 68,524 0.0% Sale of capital assets 0.0% Transfer in from other funds 0.0% - - - - - Subototal Non Property Tax Funds 402 173 200 76,579 200 0.0% 202 186,693 186,695 186,698 186,700 Property tax levy 300,263 320,678 274,661 274,661 330,281 20.3% 363,420 424,710 403,407 494,521 377,590 Total Source of Funds 300,665 320,851 274,861 351,240 330,481 20.2% 363,622 611,404 590,103 681,219 564,289 Use of Funds: Personnel Services - - 0.0% - - - - - Supplies - - 0.0% - - - - - Other services and charges - - 0.0% - - - - - Capital outlay - - 0.0% - - - - - Debt service 285,965 305,408 261,582 261,582 321,497 22.9% 346,114 593,894 572,591 663,705 546,773 Transfer out to other funds - - - 0.0% - - - - - Total Use of Funds 285,965 305,408 261,582 261,582 321,497 22.9% 346,114 593,894 572,591 663,705 546,773 Net Change in fund balance 14,700 15,443 13,280 89,658 8,984 -32.3% 17,508 17,510 17,512 17,514 17,516 Ending Fund Balance 24,030 39,473 52,753 129,131 138,115 161.8% 155,623 173,133 190,645 208,159 225,675 Ending Cash Balance 24,030 39,473 52,753 129,131 138,115 161.8% 155,623 173,133 190,645 208,159 225,675 Needed Fund Balance 24,030 39,473 52,753 129,131 138,115 161.8% 155,623 173,133 190,645 208,159 225,675 Fund Balance in Excess (Shortfall) 0 NORTHLAND] STRATEGIES Special. Proppclf erpup 8/21/2013 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN Special Revenue Funds Five Year Financial Plan ATTACHMENT PAGE 7 N 8111. AYn SE RArI•(IFS Spo =iu aro,ocs G•o p Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service 7,243 9,938 10,000 6,925 6,925 -30.8% 6,994 7,064 7,135 7,206 7,278 Assessments 0.0% - - - - - Redistribution of TIF 0.0% - - - - - Liceneses and permits 0.0% - - - - - Intergovernmental 69,305 0.0% - - - - - Investment Income 602 269 300 178 178 -40.7% 180 182 183 185 187 Fines and forfeitures 0.0% - - - - - Cable franchise fees 0.0% - - - - - Misc - Other 32,611 26,266 25,000 29,072 25,000 0.0% 25,250 25,503 25,758 26,015 26,275 Delinq property taxes 0.0% Bond proceeds 0.0% Sale of capital assets 0.0% Transfer in from other funds 305 0.0% - - - - - Subototal Non Property Tax Funds 110,066 36,473 35,300 36,175 32,103 -9.1% 32,424 32,748 33,076 33,407 33,741 Property tax levy 0.0% Total Source of Funds 110,066 36,473 35,300 36,175 32,103 -9.1% 32,424 32,748 33,076 33,407 33,741 Use of Funds: Personnel Services - - 0.0% - - - - - Supplies - - 0.0% - - - - - Other services and charges 131,741 22,812 22,812 14,988 23,000 0.8% 23,230 23,462 23,697 23,934 24,173 Capital outlay 32,918 9,000 0.0% 9,090 9,181 9,273 9,365 9,459 Debt service 0.0% - - - - - Transfer out to other funds 305 5,000 5,000 0.0% - - - - Total Use of Funds 132,046 27,812 27,812 47,906 32,000 15.1% 32,320 32,643 32,970 33,299 33,632 Net Change in fund balance (21,980) 8,661 7,488 (11,731) 103 -98.6% 104 105 106 107 108 Ending Fund Balance 35,865 44,526 52,014 32,795 32,898 -36.8% 33,002 33,107 33,213 33,320 33,429 Ending Cash Balance 38,263 44,490 51,978 48,554 48,657 -6.4% 48,761 48,866 48,972 49,079 49,188 Needed Fund Balance 35,865 44,526 52,014 32,795 32,898 -36.8% 33,002 33,107 33,213 33,320 33,429 Fund Balance in Excess (Shortfall) - - - - - - - - - - N 8111. AYn SE RArI•(IFS Spo =iu aro,ocs G•o p 8/21/2013 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN Capital Projects Funds Five Year Financial Plan ATTACHMENT PAGE 8 \flf [!]] A\I1 SI ItA[I,U1ES po_.a a�au_�s G•e�P Prior Years Current Year Projected 2010 Actual 2011 Actual 2012 Budget 2012 Actual 2013 Estimated % Chg in Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service 0.0% Assessments 16,050 8,463 3,611 - 0.0% Redistribution of TIF 0.0% Liceneses and permits 0.0% Intergovernmental 93,159 0.0% Investment Income 10,067 4,631 10,000 (401) 5,000 - 50.0% 5,000 5,000 5,000 5,000 Fines and forfeitures 0.0% Cable franchise fees 0.0% Misc - Other 13,664 87,845 3,150 0.0% Delinq property taxes 0.0% Bond proceeds 806,454 4,316,503 4,341,476 106,000 -97.5% 764,382 240,000 369,500 115,000 115,000 Sale of capital assets 49,163 0.0% Transfer in from other funds 29,842 - 0.0% 18,294 18,294 18,294 18,294 18,294 Subototal Non Property Tax Funds 969,236 100,939 4,326,503 4,396,999 111,000 -97.4% 787,676 263,294 392,794 138,294 133,294 Property tax levy 0.0% Total Source of Funds 969,236 100,939 4,326,503 4,396,999 111,000 -97.4% 787,676 263,294 392,794 138,294 133,294 Use of Funds: Personnel Services - - 0.0% - - - - - Supplies - - 0.0% - - - - - Other services and charges 13,708 47,515 0.0% - - - - - Capital outlay 855,041 263,001 1,316,503 804,955 3,606,000 173.9% 3,045,182 240,000 369,500 115,000 115,000 Debt service 100,000 100,000 0.0% Transfer out to other funds 41,426 - - - 0.0% - - - - Total Use of Funds 910,175 363,001 1,316,503 952,470 3,606,000 173.9% 3,045,182 240,000 369,500 115,000 115,000 Net Change in fund balance 59,061 (262,062) 3,010,000 3,444,529 (3,495,000) - 216.1% (2,257,506) 23,294 23,294 23,294 18,294 Ending Fund Balance 732,974 470,912 3,480,912 3,915,441 420,441 -87.9% (1,837,065) (1,813,770) (1,790,476) (1,767,182) (1,748,887) Ending Cash Balance* 1,033,851 777,111 3,787,111 4,218,664 723,664 -80.9% (1,515,547) (1,473,959) (1,432,370) (1,390,781) (1,354,193) Needed Fund Balance 732,974 470,912 3,480,912 3,915,441 420,441 -87.9% (1,837,065) (1,813,770) (1,790,476) (1,767,182) (1,748,887) Fund Balance in Excess (Shortfall) - - - - - - - - - \flf [!]] A\I1 SI ItA[I,U1ES po_.a a�au_�s G•e�P PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran, MN Utility Funds Five Year Financial Plan ATTACHMENT PAGE 9 Needed Fund Balance (3 -mo oper) Fund Balance in Excess (Shortfall) 8/21/2013 5,332 - 76,820 94,638 102,808 111,191 127,427 (21,328) 1,048,279 1,273,252 1,525,749 1,798,126 2,062,072 0 NORTHLAND] STRATEGIES Sp..alai Prop.clf G ,n,p Prior Years Current Year Projected 2012 2012 2013 % Chg in 2010 Actual 2011 Actual Budget Actual Estimated Budget 2014 2015 2016 2017 2018 Source of Funds: Charges for service - 0.0% - 23,930 49,958 78,136 108,446 Assessments - 0.0% - 106,795 106,795 106,795 106,795 Redistribution of TIF 0.0% Liceneses and permits 0.0% Intergovernmental 0.0% Investment Income - 0.0% - 22,502 27,358 32,571 38,186 Fines and forfeitures 0.0% Cable franchise fees 0.0% Misc - Other - 0.0% 1,381,556 383,477 394,982 406,830 419,035 Delinq property taxes 0.0% Bond proceeds - 0.0% 3,960,000 - - - - Sale of capital assets 0.0% Transfer in from other funds 0.0% Subototal Non Property Tax Funds - - - - - 0.0% 5,341,556 536,704 579,092 624,332 672,461 Property tax levy 0.0% Total Source of Funds - - - - - 0.0% 5,341,556 536,704 579,092 624,332 672,461 Use of Funds: Personnel Services - - 0.0% 50,000 51,500 53,045 54,636 56,275 Supplies - 0.0% Other services and charges - 15,996 0.0% 16,500 138,248 157,414 177,621 221,814 Capital outlay - - 0.0% 3,970,000 10,000 10,000 10,000 10,000 Debt service - - 0.0% 163,961 94,165 97,965 101,315 104,190 Transfer out to other funds - - - 0.0% Total Use of Funds - - - - 15,996 0.0% 4,200,461 293,913 318,424 343,573 392,280 Net Change in fund balance - - - - (15,996) 0.0% 1,141,095 242,791 260,668 280,759 280,182 Ending Fund Balance - - - (15,996) 0.0% 1,125,099 1,367,890 1,628,557 1,909,317 2,189,498 Ending Cash Balance - - - - (15,996) 0.0% 1,125,099 1,367,890 1,628,557 1,909,317 2,189,498 Needed Fund Balance (3 -mo oper) Fund Balance in Excess (Shortfall) 8/21/2013 5,332 - 76,820 94,638 102,808 111,191 127,427 (21,328) 1,048,279 1,273,252 1,525,749 1,798,126 2,062,072 0 NORTHLAND] STRATEGIES Sp..alai Prop.clf G ,n,p 8/21/2013 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran Detailed Preliminary Water and Sanitary Sewer Financial Plan ATTACHMENT PAGE 10 Calendar Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Acres Platted Per Year Residentual Equiv. Units (REU) added per yr Total REU Est. 1,000 Gallons of Water Sold Per Yr Per REU Thousands Gallons of Water Sold Gallons for Basis of Sewer Chg (100% of water) 24 24 24 24 24 24 24 24 24 44 44 44 44 44 44 44 44 44 87 131 175 219 262 306 350 100 100 100 100 100 100 100 100 4,370 8,740 13,110 17,480 21,850 26,220 30,590 34,960 4,370 8,740 13,110 17,480 21,850 26,220 30,590 34,960 SOURCE OF FUNDS: Operating: Special assessments 106,795 106,795 106,795 106,795 106,795 106,795 106,795 106,795 Utility Fees - Water usage 9,177 19,228 30,153 41,952 54,625 68,172 82,593 97,888 Utility Fees - Sewer usage 8,303 17,480 27,531 38,456 50,255 62,928 76,475 90,896 Base service charges 6,450 13,250 20,452 28,038 36,009 44,364 53,349 62,788 Developer payment for lift stations /other 1,200,000 Water trunk line availability charges 109,889 113,186 116,580 120,078 123,680 127,390 131,212 135,149 139,203 Water connection charges - 45,011 46,361 47,751 49,184 50,661 52,182 53,747 55,359 Sewer trunk line availability charges 71,667 73,817 76,031 78,313 80,661 83,081 85,572 88,140 90,785 Sewer connection charges (includes MCES) 151,464 156,009 160,689 165,509 170,478 175,595 180,861 186,289 Investment income (2 %) 22,502 27,358 32,571 38,186 43,790 48,104 52,916 58,279 Total Operating Sources 1,381,556 536,704 579,092 624,332 672,461 723,084 774,925 830,025 888,281 Non - Operating: Bond proceeds 3,960,000 - - - Transfer in Redistributed TIF - Total Non -Op Sources 3,960,000 Total Source of Funds 5,341,556 536,704 579,092 624,332 672,461 723,084 774,925 830,025 888,281 USE OF FUNDS: Operating: Personnel services /current expenses - 50,000 51,500 53,045 54,636 56,275 57,964 59,703 61,494 63,339 MCES (Disposal /flow chg, est. $1.85 yr '14) - 8,577 17,668 27,298 37,489 48,267 59,657 71,688 84,388 MCES (Sewer connection) - - 106,453 109,648 112,938 116,325 119,817 123,413 127,115 130,930 Payment to MN Health Dept - 228 228 228 228 228 228 228 228 Pmt to MG for Water ($1.4/1,000 gal infl) - 6,491 13,371 20,658 28,370 36,526 45,146 54,251 63,861 Pmt to MG for first 150 units ($300K,15yrs,5.5 %) 15,996 16,500 16,500 16,500 16,500 39,403 39,403 39,403 39,403 39,403 Pmt to MG for units above 150 - - - - - - 88,711 88,711 88,711 88,711 Total Operating Uses 15,996 66,500 189,748 210,459 232,257 278,090 390,915 416,261 442,889 470,858 Non - Operating: Capital maintenance - 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Capital improvements - 3,960,000 - - - - - - - - Debt service - 163,961 94,165 97,965 101,315 104,190 106,478 108,058 108,988 109,333 Total Non - Operating 4,133,961 104,165 107,965 111,315 114,190 116,478 118,058 118,988 119,333 Total Use of Funds 15,996 4,200,461 293,913 318,424 343,573 392,280 507,392 534,319 561,877 590,191 NET DIFFERENCE (15,996) 1,141,095 242,791 260,668 280,759 280,182 215,691 240,606 268,148 298,091 CASH BALANCE Beginning Cash Balance (15,996) 1,125,099 1,367,890 1,628,557 1,909,317 2,189,498 2,405,190 2,645,796 2,913,944 Plus Net Income (15,996) 1,141,095 242,791 260,668 280,759 280,182 215,691 240,606 268,148 298,091 Ending Cash Balance (15,996) 1,125,099 1,367,890 1,628,557 1,909,317 2,189,498 2,405,190 2,645,796 2,913,944 3,212,035 Note: The preliminary financial plan assumes the developer will make payment to the City for 100% of the cost of the Lennar lift station in year 2014, this has not been agreed to by the City or developer. 0 NORTH 5NOSTRATECIES Sp•.,Jpl r..,1. fs d' "P PRELIMINARY FOR DISCUSSION PURPOSES ONLY ATTACHMENT PAGE 11 City of Corcoran, MN Capital Improvement Plan Detailed Acquisition and Capital Projects 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Total Equipment Acquisition Use of Funds: Police Department 71,500 54,500 131,500 94,500 50,000 50,000 50,000 50,000 50,000 50,000 50,000 702,000 Public Works 17,000 82,000 86,000 225,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 760,000 Administration 17,500 12,500 22,500 50,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 207,500 Total Equipment 106,000 149,000 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 1,669,500 Source of Funds: GO bonds (supported by tax levy) 106,000 149,000 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 1,669,500 Utility Improvements Use of Funds: SE Sewer Lift Station at Lions Park (Option C) 1,200,000 1,200,000 SE Water supply along 101 and booster 1,360,000 1,360,000 Downtown improvement project 1,351,062 1,351,062 CR 116 (Western Loop) Trunk Water to Lennar 1,400,000 1,400,000 Total Utility Improvements - 5,311,062 - - - - - - - - - 5,311,062 Source of Funds: GO bonds (supported by utility revenue) 3,960,000 3,960,000 Tax increment funds 1,351,062 1,351,062 Total - 5,311,062 - - - - 5,311,062 Street Improvements Use of Funds: Hackamore Road, CR 116, CSAH 101 Downtown streets improvement project Total Streets 2,280,800 941,938 3,222,738 2,280,800 941,938 3 222 738 Source of Funds: GO bonds (supported by assessment revenue) 615,382 - - - - 615,382 Other source of funds (cost sharing) 2,280,800 2,280,800 Tax increment funds 326,556 326,556 Total 3,222,738 - 3,222,738 Facilities Use of Funds: Public works facility (bonds issued in 2012) 3,500,000 3,500,000 Other - Total Facilities 3,500,000 - - - - - - - - - - 3,500,000 Source of Funds: Capital projects fund (prior yr bond proceeds) 3,500,000 - - - - - - - - 3,500,000 TOTAL USE OF FUNDS - - - - Equipment acquisition 106,000 149,000 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 1,669,500 SE Sewer Lift Station at Lions Park (Option C) 1,200,000 - - 1,200,000 SE Water supply along 101 and booster 1,360,000 1,360,000 Hackamore Road, CR 116, CSAH 101 2,280,800 2,280,800 Downtown improvement project - 2,293,000 - - - - - - - 2,293,000 CR 116 (Western Loop) Trunk Water to Lennar - 1,400,000 1,400,000 Public works facility (final completion) 3,500,000 3,500,000 Total Use of Funds 3,606,000 8,682,800 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 13,703,300 SOURCE OF FUNDS GO Bond proceeds 106,000 4,724,382 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 6,244,882 Other source of funds (cost sharing) 2,280,800 2,280,800 Tax increment funds (cash) - 1,677,618 - - - - - - - - - 1,677,618 Capital projects funds (cash) 3,500,000 - 3,500,000 TOTAL SOURCE OF FUNDS 3,606,000 8,682,800 240,000 369,500 115,000 115,000 115,000 115,000 115,000 115,000 115,000 13,703,300 Note: Equipment certificates are issued every two years. The City issued bonds in 2012 to pay for the new public works facility which will be completed in 2013. 8/21/2013 0 NORTHLAND STRATEGIES 5 oo ciel Te 4+ 45..4o ATTACHMENT PAGE 12 PRELIMINARY FOR DISCUSSION PURPOSES ONLY City of Corcoran Debt Service Study - Annual Principal and Interest Payments Based on Capital Improvement Plan (CIP) 2012 Actual 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Debt Supported by Property Tax Revenue: Existing Bonds Bankwest 2006 (Certificate) 50,960 11,972 Farmers 2006 (Certificate) 50,960 11,972 Northland Trust 2008 (Certificate) 58,161 76,761 99,661 100,219 99,614 99,888 Carroll County 2004 (PD Facility) 41,412 40,828 41,178 20,440 Bankwest 2010 30,044 30,492 30,916 30,329 30,730 29,911 29,864 30,758 30,593 Farmers 2010 30,044 30,492 30,916 30,329 30,730 29,911 29,864 30,758 30,593 2012A Certificates 44,815 44,555 44,295 44,035 43,775 43,275 42,775 42,275 46,575 45,788 Total Due on Existing debt 261,582 247,332 247,227 225,611 205,108 203,484 103,003 104,291 103,460 46,575 45,788 Future Equipment Certificates GO 2014 Bonds 43,306 43,306 43,306 43,306 43,306 43,306 43,306 43,306 43,306 GO 2016 Bonds 53,938 53,938 53,938 53,938 53,938 53,938 53,938 GO 2018 Bonds 25,605 25,605 25,605 25,605 25,605 GO 2020 Bonds 25,605 25,605 25,605 GO 2022 Bonds 25,605 Subtotal for Certificates 43,306 43,306 97,244 97,244 122,849 122,849 148,454 148,454 174,059 Facilities GO 2012B Bonds 74,166 98,888 138,488 137,688 176,488 160,038 218,138 220,588 237,788 234,788 236,738 Total Debt Service Supported by Tax Levy Total Estimated Debt Service Levy with 5% Coverage Annual $ change 261,582 321,497 346,114 407,405 386,102 477,215 360,284 445,277 446,896 432,816 429,029 410,797 337,572 363,420 427,775 405,407 501,076 378,298 467,541 469,241 454,457 450,480 431,336 (43,827) 59,916 24,617 61,291 (21,303) 91,114 (116,932) 84,993 1,620 (14,080) (3,788) (18,232) Debt Supported by Revenue Other than Property Tax Revenue: Street Improvements (Assessments) GO 2014 Bonds - 186,489 186,489 186,489 186,489 186,489 186,489 186,489 186,489 186,489 Utility Improvements (Utility Revenue) GO 2014 Bonds 163,961 94,165 97,965 101,315 104,190 106,478 108,058 108,988 109,333 109,068 GO 2015 Bonds GO 2016 Bonds Note: The debt study does not include the Hackamore Road Project, which is still under review for funding. 8/21/2013 NORTHLAND STRATEGIES SCRCIGO Or Oil CIS 43,au13