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HomeMy WebLinkAbout2011 Budget BookCITY OF STILLWATEF NJ V" CI OF STILLWATER, , MINNESOTA 3 21 4th Street North Stillwater, SIN 55082 Phone: 651.430.8800 Web Address: www,ei.tillwater.mn.us PREPARED ED B ' THE FINANCE DEPARTMENT 2011 BUDGET CITY OF STILLWATER, MINNESOTA SEA BEA 2011 BUDGET i INTRODUCTION City Officials... 3 Mission Statement............... 4 Organizational Chort...---------------......................................................... 5 CartifiadLe«y..------------------------------------- 8 Debt Service Levy ObUgotiomo--------------_---------------.. 7 Budget Overview......... 040 Property Tax Ca|rulation------- ............................................ ----------- 11-12 Trend Information: 34-35 Total Certified Levy (past 10 yaane----------------------------.. 18 City Tax Rate (past 10 yoarm ----_--------------------_---- 17 General Tax Levy and Levy Limits (past 10ymany--------------------_ 18 Local Government Aid & General Tax Levy (past 10 years) 18 Bond Rating (past 10yeore )------------------------------.. 20 U. BUDGET SCHEDULES A. GENERAL FUND General Fund 8ummory..------------------_--------......... 24'25 Rovonues------------------------------------- 27 Expenditures: 84-85 N1ayorendCounciL.-------------------------------. 28'29 Ba�1on�------------------------------------.. 30'31 MISSupport Services ............................................................................................. 32'33 Finenmo------------------------------------- 34-35 Adm1 ni strati on— ...... _-------------------_----------. 38'37 Legal/City Attorney ................................................................................................. 38-39 Plant/CityHoU----------------------------------. 40-41 Community 42'43 Po 44-45 Fh�--------------------------------------- 48'47 ...................... 48'49 CivUDafenae----------------------------------.. 50'51 EnQineoring-----------------------------------. 32-53 8tneots-------------------------------------.. 54'55 Unaloca<ed---------------------------------__. 56-57 B. SPBCm� -REVENJEFUNDS Special Revenue Funds Gummery----------_---------------- 60-81 Special Events............ 82'83 8t Croix Val ley RooraationCa ........ 84-85 L bna0.—..------------------------------------.. 88'87 parko--------------------------------------- 88'68 Downtown Beautification 70'71 Washington County Recycling Gran 72-73 OARE.--..-------------- ................. ---------------- 74-75 CITY of STILLWATER, MINNESOTA SEA SEA TABLE OF CONTENTS %O�v 76, � 1 }J C. DEBT SERVICE FUNDS Debt Service Funds Summary. 78-79 G Capital Outlay Bonds. +.r +..aaaa. •.a.a•••...aaa.a.a.t••.a. aaa•.a.a..a•a..aa.•..a•a•.a . a•.a. # + + +........ + +.a.a..e 80-81 GCS Improvement Bon 82-73 GO Tax Increment Financing Bonds 84-85 GORevenue Bonds +.a +.+ ......... a. a+....+.+.. a...+ a••. a. a....++..l+ a..... r.•..+.+, + + + +.. +.a +...aa.•.a...•.•.,.... 88- OtherLon - Terra Debi... 88 -89 D. CAPITAL PROJECT FUNDS 108 -109 Capital Project Funds Summary... - . , .. a . a a a a t .. a a a a a . ........ . , . a . 93 Tare Increment Financing District 1 + +• +.+ . +. +. +... +•.•. .. +a ... +• +. +a.. +_... .•i.•...aa...•a••.a.. + +.. •t. 94-95 Tax Increment Financing District #4 +. a.......a a.a.. a......a.a. a. a...... a....a. a. a......... +YV...a.a.a.aa.a....+ - Ta c Increment Financing District 98 -99 Tax Increment Financing District �# 8. a• a.• a. a. aaaa ...•.a.a.•.•.a•.•aa...•.a.a•a.• as •a•..... +..... + +� +..aa.•.a.a +.. 100-101 Tax Increment Financing District ... ...........iY.i......ti�.ara... 102-103 Tax Increment Financing Dstrict a +ia .i. iii it .b +ia is +.ii e... .i•ifa ay. r +. ib•r.•.aa aea .a. aa. a# ... ..a.a 104-105 E. ENTERPRISE FUNDS Enterprise Funds Summary +a + ++ aaa. a. aaaaa•... aa•••... a. t•.. a. a•.aa•.•a.•.a.a.•a.a•.•.a +..... - , +i +. +a....•aa.. + +.. 108 -109 Sanitary Sewer........, . . +...•a• 110 - 111 Stormfi rer .....aa.aaa..•a.a.a... + + + + .... .. ..... . . ... .- ........... ..... +... -... - ....•a•a•aaa.a...a.. + +. +...a. 112-113 Signs& Lighting .......ica.rr ..+..+. a.....•. aaaaa..•........+ a• a•......• a•.. a..+...... a .ai.....,.....t•.a.a••..... +... �. 1+14 -115 Parking...... a r..+++.. a#.., a.. a. aa.. raa .r..a.a.vaaa.avaaa,a•ava..aa. aaa.. at. v. a... a.ra.a..a+ +r....a. +.rrraraaaa.a r. 116 -117 ParkingRamp + +.........a.. aaa.., a•..++ a+...+++. a. Y+++ a+.+.. a+++ a+ + + +a +. +. + +.i..a..a.. +i.iava.a.. a... + +.. .._., ,rra.a. 113 -119 M. OTHER SCHEDULES Capital Outlay. 123 -125 Reserves CapitalReserves..••.. ....•.....a +.... ....... ......... .•. .......+Y..--- ................. +..aaa........ . , .. 127 BornProceeds. a...aa. a.. a........+.....+.+++ r.+.+.+.+++ r#++.•+. + #.. +l..ii + +aa..a +..... +.r. +. + - . +a.,r.•...aa..... +... + +a, 128 IV. APPENDIX Glossary.....++... a.•.•.. •a.aaa..aa.a..aaa.a +...... +.... +...................... +. .... .. +.t...a...•.a.. +. +...... +.aa• 131 -136 INTRODUCTION CITY of STILLWATER, MINNESOTA SEA BEA CITY OFFICLkLS S January 18, 2010 ELECTED OFFICIALS Mayor Ken Harycki Term Expires: January 201 counllmerri "arid 1 Doug Menikheir Tern Expires: January 201 Ward 2 Micky Cook Term Expires: January 2013 Ward 3 Jim Roush Term Expires: January 2013 Ward Mike Plehna Term Expires: January 2015 APPOINTED OFFICIALS Larry D. Hansen, City AdministratorlTreasurer David T. Magnuson, City Attomey Sharon Harrison, Finance Director John Gannaway, Police Chief Stuart Glaser, Fire Chief Shawn Sanders, Public Works DirectorlCity Engineer Bill T rnblad, Community Development Director Lynne Bertalmio, Library Director 3 CITY OF STILLWATER, MINNESOTA BEA SEA . Ira MISSION STATEMENT To provide the community with a quality living environment and quality public services and facilities while protecting cultural, historical and natural resources through fair and open government, careful planning, effective management and efficient fiscal policy. Adopted by the City Coun it in 1995 4 CITY OF STILLWATER, MINNESOTA eat., lItnr,,, ORGANIZATIONAL n Program Types General Government Public Safety Public Works Culture and Recreation Proprietary ELECTIONS pnitm ADMINISTRATION PLANTICITY HALL CITIZENS OF STILLIATEF MAYOR CITY COUNCIL DOWNTOWN BOARDS AND BEAi1TFICATfQ[Y COMMISSIONS CITY ATTORNEY COMMUNITY DEVELOPMENT BUILDING IN INSPECTION ENGINEERING WASHINGTON CO I SANITARY SEWER RECYCLING GRANT CITY ADMINISTRATOR/ / TREASURER FINANCE I I FIRE PUBLIC WORKS STREETS STORM SEWER HERITAGE PRESERVATION COMMISSION PLANNING COMMISSION PARKS BOARD JOINT CABLE COMMISSION HUMAN RIGHTS COMMISSION LIBRARY LIBRARY BOARD POLICE T CROIX VALLEY RECREATION CENTER PARKS SKIS c LIGHTING CIVIL DEFENSE DARE PARKING PARKING RAMP MTV n1z IqTl|!WATFR M0KIKIP-qOTA EA Pursuant to Resolution 2010-195, on December 7, 2010 the City Council adopted the final certified tax levy of $10,158,367 for taxes collected in the year 2011. This levy consists of the General Operating Levy and Special Levys. GENERAL OPERATING LEVY: The General Operating Levy is levied against all of the taxable properties of the City and is a major funding source for general City operations. Fund # Amount 100 General Operating Levy $ 81523.288 SPECIAL LEVYS: Debt Service Lev The Debt Service Levy is levied against all of the taxable properties of the City and provides funding for those bond issues requiring property tax support. The Debt Service Levy for taxes collected �n the year 2O11 io$3'215.1B5and consists of the following Debt Service Obligations- Fund _# Current Required Levy Amount* 304 GQ. Capital Outlay 2DO4B $ 108.308 305 G.O. Capital Outlay 2OO5A 228.879 307 G.D. Capital Outlay 2OO7A 1957484 308 G.Q. Capital Outlay 2D08A 214.896 309 G.D.Capital Outlay 2009A 2195503 315 G.D. Capital Outlay 2OU5B 2763888 318 G.Q. Capital Outlay 2OO6A 574`893 319 GD. Capital Outlay 2OO9B 138.853 328 GD. Capital Outlay 2DOBD 7557672 340 G.D. Improvement Bonds 2OO4A 285`832 385 E;.O Sports Center 2QO5C 121,309 Subtotal $ 311303185 New Debt, 311 GO Capital Outoiy2O11 BSOOO TOTAL 3,215,195 Debt Service Levys Cancelled The following debt service levy's were cancelled due to sufficient funding already available- 389 PERAEmo|ovor Contribution Rate Increase Lev The PERA Employer Contribution Rate Increase special levy koto pay the increased oos uf required employer contribution to the regular plan of the Public Employees Retirement Association (PERA) due to rate increases effective ono/ after January 1.2UO2. For the Coordinated Fund, the employer rate increase form 5'1896 prior to January 1 2002 to 8.7596 oftotal salary for payable 2000. For the Police and Fire Fund, the employer rate increased form 9.3% to 14.1%of total salary, Prior Lo2OOB' the PERA Employer Contribution rate increase was included with the General Tundi# Amount 100 PERA Employer Contribution Rate increase Levy $ 171,974 2010 Unallotted Aids and Credits Lev The 2010 Unallotted Aids and Credit special levy can be claimed by the City for Local Government Aid(LGA)ond Market Value Homestead Credit (NVHC)uno|loted|n2O1U The maximum levy which can be claimed under this special levy ia the total amount of property tax aids and credits uned|ottedin2Q1U. For Stillwater, the maximum amount that can me levied under this special levy is- $1,210,643. The actual amount that was levied by the City is as follows.- Fund # Amount 9 CITY OF STILLWATER, MINNESOTA A BE LEVYOBLIGATIONS Ig. d The a bore graph shows the a mount of debt service required to be levied for each budget year be i n n i n g with 2011. The amount of levy can be reduced or"cancelled" if there are sufficient funds available to pay the required debt service. Year TOTAL CERTIFIED LEVY Revell Lie Bonds - improvement Bonds Total $3,500,000 $2,713,053 $4101060 $295,832 $3,418,945 2012 $3,000,000 $411,542 $300T456 $2,980,010 2013 $2,015,993 $4071200 $2,500,000 $2,821,889 2014 $1,801,309 $412,997 $301,698 $2,516,004 2015 $1,586,516 $423,313 $303,109 $2,000,000 2016 $11355,057 $426,778 $298,761 $2,0801596 2017 $1,118,937 $424,237 $01 $1,543,174 2018 $1,108,952 $174,326 $1,500,000 $13283,278 2019 $1,001,463 $1731880 $0: $1,1751343 2020 $980,340 $0 $0 $980,340 $1,000,000 $689,740 $01 $0 $689740 2022 $3871450 $0 $0, $3871450 2023 $389,970 $01 $0 $389,970 2024 $391,860 $500000 $0 $391,860 1 2025 1 $393,1201 $01 $01 $393 $0 2011 2012 2013 2014 2015 2016, 2017 2018 2019 2020 2021 2022 2023 2024 2025 El Capital Outlay Bonds El Revenue Bonds 0 1 m p rovem ent 13o nd s The a bore graph shows the a mount of debt service required to be levied for each budget year be i n n i n g with 2011. The amount of levy can be reduced or"cancelled" if there are sufficient funds available to pay the required debt service. Year Capital Outlay Bonds Revell Lie Bonds - improvement Bonds Total 2011 $2,713,053 $4101060 $295,832 $3,418,945 2012 $21268,012 $411,542 $300T456 $2,980,010 2013 $2,015,993 $4071200 $398,696 $2,821,889 2014 $1,801,309 $412,997 $301,698 $2,516,004 2015 $1,586,516 $423,313 $303,109 $2,312,938 2016 $11355,057 $426,778 $298,761 $2,0801596 2017 $1,118,937 $424,237 $01 $1,543,174 2018 $1,108,952 $174,326 $0: $13283,278 2019 $1,001,463 $1731880 $0: $1,1751343 2020 $980,340 $0 $0 $980,340 2021 $689,740 $01 $0 $689740 2022 $3871450 $0 $0, $3871450 2023 $389,970 $01 $0 $389,970 2024 $391,860 $01 $0 $391,860 1 2025 1 $393,1201 $01 $01 $393 Note: The above levy amounts do not include amounts for any anticipated 2011 bond issues. 7 BEAj 7W CITY OF ST.LLWATER' MINNESOTA General Description and Form of Government The City ofStillwater, incorporated in 1884, is a growing community located on the St Croix River 1n central Washington County, approximately 20 miles east of Minneapolis/St. Paul metropolitan area, Stillwater encompasses an area of approximately 4,891 acres serves a population of 17,959, The City of Stillwater operates under the "Home Rule Charter" form of government under the provisions ofState of Minnesota Law. The Mayor is the president of the Council and together with the four-member City Council comprises the governing body of the City. The City Council /a responsible, among other thinga.fonpeao1ngordinenmas,adopUng the budget, appointing committees, and hiring a City Administrator. The City Administrator has the responsibility of carrying out the policies and ordinances of the City Council and of overseeing the day-to-day operations of the City. The Mayor is elected at-large and the Council Members are elected by Wards to serve four-year overlapping terms of office. The City provides o full range of municipal services. These services include- general government, public safety (police &fire). public works (streets & fleet), parks and recreation, public improvements, and providing and maintaining sanitary sewer, storm sewer, signs & lighting and parking inftastructure- Fund Accounting The accounts of the City are organized on the basis of funds, each of which is considered a separate accounting entity. The operations of each fund are accounted for with a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues and expanditurea/axpansos' Government resources are allocated io and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities The budgeted funds of the City are grouped into two broad categories om follows- Governmental Funds - Governmental Funds are used to account for the ^governmental -typ el'activities of the City (o.g.eoUviUasLhoi receive osi gnifil cant portlonofthe1rfunding from property taxes, state a1da.ondvarouegnsnts). The Governmental Funds budgeted for the City are the General Fund, Special Revenue Funds.1 Debt Service Funds, and Capital Project Funds. Proprietary Funds ' Proprietary Funds are used toaccount for the activities ofthe City (e.g. activities that receive significant portion of their funding through user charges). The Proprietary Funds budgeted by the City are the Enterprise Funds. Basis of Accounting and Budgetina The Governmental Funds are budgeted and accounted for onemodified accrual basis. Under this method, revenues are recognized when they are measurable and available. ^N1oaounsb|o~ means the amount of the transaction can ba determined and ^ available /' means collectible within the current period or soon enough thereafter (usually within 8Odays after the end of the year) to pay liabilities of the current period. Expenditures are recognized when o transaction iu expected to draw upon current spendable resources, rather thanfutumareauuroem. The Proprietary Funds are budgeted and accounted for ona full accrual basis. Under this method, revenues are recorded when earned and expenses are recorded at the time the liabilities are incurred, CITY OF S^~'LLWATER� MINNESOTA 113UDGET OVERVIEW MAM (Continued) Budget, Process. Section 7.01 of the Stillwater City Charter sets forth the requirement that the City Administrator must prepare and submit an annual budget to the City Council which accurately reflects the financial needs for the City. The City Administrator is also required to enforce the provisions of the budget upon adoption. The budget is prepared on an annual basis and follows the calendar year, January 1 st to December 31 st. The City Administrator and City staff address the Council's concerns in the preparation of the budget and evaluate the 2010 financial costs of the implementation of these policies and include them in the budget where economically feasible. 2011 Bu�Lqet Calendar: April Finance Department begins budget process by preparing projected wages, benefits and insurance costs for the upcoming fiscal budget year- April 20 The proposed budget calendar, the budget workshop meeting dates., and the date for the adoption of the proposed budget, tax levy and the sefting of the truth - n-taxation hearing dates are May 7 Budget worksheets are distributed to Department Heads/Division Supervisors for completion. May 14 Budget workshop for Council to set priorities for the 3O11 Budget. May 28 Completed budget worksheets are due to the Finance Department. The Finance Department assembles the preliminary (requosted) budget information. June 14' June 30 The City Administrator reviews (equested budget, meets with Department Heads to review budget requests. and makes recommendations regarding the budget. July _ August 8 Finance Department makes adjustments and prepares City Administrator's preliminary proposed August 10 City Administrator's preliminary proposed budget is distributed to the City Council for review- August 17& 24 Council meets during a budget workshop session with the City Administrator and Department August 2S- The Finance Department makes budget revisions and prepares the final proposed budget for Setpennber3 Council adoption. September Council adopts the proposed budget, the proposed tax levy and sets the Trut -n-Taxation heohnQ Prior to State Statutes require thaLthepmpo sedbudget, the p roposed p ro perty tax I evy andthe Truth- n- September 15 Taxation hearing dates MUST BE certified to the County Auditor no later than September 15, 2010. November The County to send out Truth-in-Taxation parcel specific notices based on the proposed budget/levy certified bo the County Auditor prior to September 15. November 16 Notice of2O11 7-N-T Budget meeting announced. December City to hold the Truth'n'Toxe±ionmeeting. Council adopts final budget and final property tax levy. Prior to December 30 Finance Department certifies the final property tax levy and the final budget to the County Auditor- NOTE Minnesota State Statutes require that a preliminary property tax levy resolution be certified to the County Auditor by September 15mf each year. Once the City adopts the proposed tax levy, the final tax levy can ONLY remain the same orbe decreased, not increased. �11 CITY OF STILL WATER, MINNESOTA E4 Cry VA 9 Budgeted Funds The City of Stillwater prepares a budget for the General Fund, certain Special Revenue Funds (Special Events Fund, St. Croix Valley Recreation Center Fund, Library Fund, Parks Fund, DARE Fund and the Washington County Recycling Grant Fund), Debt Service Funds, certain Capital Project Funds JIF Districts) and its Enterprise Funds, but only legally adopts, by resolution, the budget for the General Fund and the budgets for the Special Revenue Funds. Revenue Estimation Revenue estimation is a key component in preparing the City's annual budget. The general intent is make conservative and objective projections. The City's approach to estimating revenues is to consider each individual revenue sources' history of predictability, stability or volatility. The estimation methods used are a combination of trend analysis and forecasting from information provided by prior years actuals and City departments. Capital Improvement Pro ram The City of Stillwater's Capital Improvement program is intended to provide the City Council and staff with a process for identifying and prioritizing capital projects and capital equipment purchases in order to coordinate the financing and timing of improvements, which maximizes the return to the public. The process enables the City to evaluate long-term cost and benefits of each project/equipment and uses this information when preparing the annual budget. Propeft Tax Levi; The City of Stillwater levies property taxes for its General Fund operations (General Operating Levy) and certain Special Levys (Debt Service Tax Levy for Debt Service obligations and PEA Employer Contribution Rate Increase Levy). See Certified Levy on page 6. The levies are allowed by State Statutes, and are collected from property owners by Washington County and distributed to the City in July, December, and January. Truth -in-Taxation Public Hear Each year in November and early December, State Statutes require all counties, school districts, and cities with a population over 2,500 hold a public meeting to discuss the proposed budget and property tax levies. As part of this process, each property is sent by the County a Truth-in-Taxation notice, which shows the impacts of the proposed levies on their individual property. The public meeting is set up as a forum for citizens to come and discuss their views on the proposed budget and property tax levies with the public officials of each jurisdiction. The City of Stillwater held its public meeting on Tuesday, December 7, 2010 at 7:00 p.m. questions Any questions regarding the content of the City's budget document can be discussed with the City Administrator or the Finance Director by contacting City Hall at (651) 430-8800, Me CITY OF STILL WATER, MINNESOTA AU A w 4� HOW CITY PROPERTY TAXES ARE CALCULATED Step 1. Calculate the City Property Tax Rate Box 1 Total Proposed City Budget minus Box 2 All Non-Property Tax Revenues, e.g.: - State Aid, Fees, etc. = equals :Box 3 Property Tax Revenue Needed (Levy)* - Less: Fiscal Disparity Contribution Box 4 City-Wide Assessor's Market Vslue x times Box 6 State Mandated Class Rates equals Box 6 divided by Total City-Wilde Taxable "'Tax Capacity"" = equals Box 7 City's Property Tax Rate Boxes I - 3 calculates the City Tax Levy Boxes 4 -6 calculates the City-Wide Taxable Tax Capacity City Tax Levy divided by the Taxable Tax Capacity equals the City Tax Rate CALCULATION OF PAYABLE 2011 CITY PROPERTY TAX RATE (ESTIMATED): City Budget Governmental Funds Budget Debt Service Budget Total City Budget Box 1 Less Non-Property tax revenues Box 2 Certified Levy Less Fiscal Disparity Contribution Box 3 ]City Levy Box 4-6 City Taxable Tax Capacity ,Box 7 City Tax Rate (estilmated) 11 $ 11,333,056 41559T396 $ 15,892,452 5,734,085 $ 10,158,367 1,167,099 $ 8,991,268 $ 17,095,522 52-694% CITY OF STILLWATER, MINNESOTA EA L 9EA11 LP 3 _ y HOW CITY PROPERTY TAXES ARE CALCULATED Step 2. Calculate Individual Parcels City Property Tax Formula: Property's Net Tax Capacitor x City Property Tax Date = Property's CitV Property Tax NET TAX CAPACITY The Not Tax Capacity is calculated by multiplying the Taxable Market Value of the parcel by the appropriate assigned Class late of the parcel. the Taxable Market Value (T1f refers to the amount of value of the parcel that is used in calculating taxes. The TI IV is determined by Washington County Assessor's office. - the Class Rate is based on the assigned use or classification of the parcel. Class Rates are determined by the MN Legislature and portion of the rate are as follows: Property Class Parable Taxable Market Value 2011 Residential Homestead 0 First $500,000 of value 1.00% Over $500,000 of value 1.25% Residential Mon - Homestead 1 ,500 Single Unit 5,000 First $500,000 of value 1.00% Over $500,000 of value 1.25% Market Rate Apartments 52.594% Regular 1.00 Commercial Industrial First $150,000 of value 1.50% Over $1,50,000 of value 2.00% ACTUAL CITY PROPERTY TAX CALCULATION* Parcel Tax Capacity First $500,000 a@ I.00% Over $500,000 @ 1.2510 Total Tax Capacity City Tax Rate City Property Tax Property Class: Residential Homestead) Taxable Market Value $1003000 $1503000 $250,000 $5009000 $750,000 1,000 1,500 2,500 5f0O0 5,000 0 0 0 0 3,125 1,000 1 ,500 2,600 5,000 8,125 52.594% 52.594% 52.594% 52.594% 52.594% $525.94 $788-91 $1 x314.85 $2,629.70 $4,273.26 *Note: Property Tax Calculations do not include reduction for homestead credit. 12 Trend Information $12,000F000 $10,000,000 $8,000t000 $6,000,000 $4,000,000 $U00"000 CITY OF STILLWATER, MINNESOTA Ilk TOTAL CERTIFIED LEVY --LAP $0 ---F- 2002 2003 2004 2005 2.006 2007 2008 2009 2010 2011 M General Tax Levy 0 Debt Service Levy El PERA Levy D UnaH oted Aids & Credit Levy The Certified Levy consists of the General Tax Levy (General Fund operations), the Debt Service Special Levy (Debt Service ob I i gati o n s) , the PE RA Employer Con trib ution Rate Increase Special Levy* and the Un alloted Aids and Credit Special Levy. * Beginning with payable 2009, the City certified a special levy for PER A Employer Contribution Rate Increase, See page 6 for a definition of what this special levy is. Prior to 2009, the PERA Employer Contribution Rate Increase Levy was included with the General Operating Levy. 16 Special Lev►s ----------------- -------- I Unalloted Aids t Debt Service PERA & Credits Total Certified Levy Year r General Tax Levy 2002 $4,034,297 $1 t890,540 $0 $0 $5,924,837 2003 $4,261,183 $2,342,774 $0 $0 $6,603,957 2004 $4,713,214 $2,583,083 $0 $0 $7,296,297 2005 $5,579,500 $2,811,379 $0 $0 $8,390,879 2006 $5,530,145 $31305,610 $0 $0 $83885,755 2007 $6,102,192 $31284,430 $0 $0 $9,386,622 2008 $6,775,809 $3,192,158 $0 $0 $9,967,967 2009 $6,652,408 $3,286,539 $160,822 $0 $101099,769 2010 $6,479,727 $3,385,158 $163,351 $81,954 $10,110,190 L2011 $6,523,288 $3,215,195 $171,974 $247,910 $10,158,3+37 * Beginning with payable 2009, the City certified a special levy for PER A Employer Contribution Rate Increase, See page 6 for a definition of what this special levy is. Prior to 2009, the PERA Employer Contribution Rate Increase Levy was included with the General Operating Levy. 16 % tj 60% 50% 40% 30% 20% 10% -1 0% CITY OF STILL' ATE MINNESOTA CITY TAX RATE 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Year Total Certified Levy Fiscal Disparity Contribution City Levy City-Wide Taxable Tax Capacity City Tax Rate 2002 $5,924,837 $658,560 $5,2661277 $9,858,886 53.417% 2003 $6,603,957 $624,031 $5,979,926 $11,334,107 52.761% 2004 $77296,297 $689,524 $6,606,773 $12,717,343 51-951% 2005 $8,3903879 $751)237 $7,639,642 $14,797,188 51.629% 2006 $8,885,755 $794,406 $8,091,349 $16,431,705 49.243% 2007 $9,386,631 $819,600 $8,567,031 $18,432,325 46.478% 2008 $9,967,967 $909,059: $9,0583908 $18,888,149 47-961% 2009 $10,099,769 $1,094,815 $9,004,954 $18,817,309 47.855% 2010 $10,110,190 $1,090,126 $9,020,064 $18,225,056 49.493 o 2011 $10,15813671 $1,167,099 $8,991,2681 $17,095,522 52-594 n I The City Tax Rate is calculated by dividing the City Levy by the City-Wide Taxable Tax Capacity. The Fiscal Disparity Contribution is the City's contribution to the Metropolitan Fiscal Disparities pool (property tax base sharing program) which in turn reduces the Total Certified Levy - 17 r-ITY nF -qT11 I WATPP MIPJM;=-qnTA BE Ilk. All .EA:& 3 Nk GENERAL TAX LEVY AND LEVIT LIMITS $7,000,000 $6,000,000 $5,000,000 $4,000,000 1 $3,000,000 $2,000tOOO IN17 I $LOK000 --J $ 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 0 General Tax Levy 0 Levy Limit The above graph depicts how the General Tax Levy (the amount subject to the levy limit) compares to the Levy Limit in place for that given year, Some years (such as 2005, 2006, 2007 and 2008) there were no levy limits in effect. Year General Tax Levy Levy Limit 2002 $4,034,297 $4,034,297 2003 $4,261,183 $4,261,183 2004 $4,713,214 $4,713,214 2005 $5,579,500 Not Applicable 2006 $5,580,145 Not Applicable 2007 $6,102,192 Not Applicable 2008 $6,775,809 Not Applicable 2009 $6,652,408 $6,668,408 20 $6,479,727 $6,479,727 20110 1 $61523,288 $67523,288 18 CITY OF STILLWATER, MINNESOTA 13EAO B TREND INFORMATION 1g. (Past lo Years) d30 LOCAL GOVERNMENT AID & GENERAL TAX LEVY $7,000,000 AS OtL--el $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 2002 2003 2004 2005 2006 2007 2008 2009 El LGA (Received) 0 L (Unalloted) 0 General Tax Levy Year Wnf LA (Received) LA (Unalloted' 1 Total Certified L 2002 $11400,432 $0 $13400,432 2 -� "� n 003 $656,737 $745,750 $1,402,487 2004 $656,737 $0 $656,737 2005 $955,355 $0 $955,355 2006 $911,838 $0 $911,838 2007 $722,075 $0 $722,075 2008 $227,971 $227,971 $455,942 2009 $389,836 $359,402 $749,238 2010 $174,580 $837,994 $1,012,574 2011* $0 $x,173,9!03 $1,173,903 eneral Tax Levy (Received) $4,034?297 enei Leery $4,261,183 $4,713,214 $57579,5001 $5X1,145 $6,102,192 $6,7757809 $6,813,230 $6,725,0 $679431 2010 2011 LGA (Received) - Amount of L the City actually received. LGA (U n a I loted) - Amount of L of the Certified L amount) th at was retained by the State. Total Certified L - Total amount of Local Government Aid certified by the Department of Revenue that the City Can expect to receive during a given tax year. *For 2011, it is expected that all of the LGA alloted to the City will be unalloted due to the large deficit facing the State. 19 CITY OF STIL[WAT]ER! MINNESOTA TPLEND INFORMATION (Past lo Years) YEARLY BOND RATINGS Each yea r the C|Lymuut borrow moneyon the u pen market forvahoue types ofpnojeots/ooquiaitions. Thabadarthe City's bond rating, the lower the interest costs the City pays on its debt obligations. The City receives its bond ratings from Moody's Investor Services*. Below are the City's bond rating for the past 10 years - Year fRahqq Year Rathnq 2010 Aa2 2005 Al 2009 Ao3 2004 Al 2008 Ae3 2003 Al 2007 Ae3 2002 Al 2008 Aa3 2001 Al *Moody's Investor ServiGes municipal bond ratings are defined as follows: There are nine basic rating categories for long-term obligations. They range from Aaa (highest quality) to C (lowest qusdity).Moody's applies numerical modifiers 1`2. and 3in each generic rating classification from AotoCea.The Modifier indicates that the issue ranks in the higher end of its genericrating category, the modifier 2 indicates a mid- range nanking;andthemndifier3[ndiootoathatthmimouenenbsinthe|ovvarondof\togeneh000tegory. (Note- for ease of presentation, only a portion of the nine categories iopreoented) Aaa Bonds that are rated Aaa are judged to be of the highest quality, with minimal credit risk. Aa Bonds that are rated Aa are judged to be of high quality and are subject to very low credit risk. A Bonds that are rated A are considered upper-medium grade and are subject to low credit risk. Baa Bonds that are rated Bao are subject to moderate credit risk. They are considered medium grade and aasuch may possess certain speculative characteristics. Be8ondo that ane rated Ba arajudgedtoho»eepoou|at|veo|emenLoandanooubjeottoaubatonUa>ored1tdah. B Bonds that are rated B are considered speculative and are subject to high credit risk, Gae Bonds that are rated Caa are judged to be of poor standing and are subject to very high credit risk. Ga Bonds that are rated Ca are highly speculative and are likely in, or very near, default, with some prospect of recovery of principal and interest. C Bonds that are rated C are the lowest rated class and are typically in default, with little prospect for recovery of principal or interest. BUDGET SCHEDULES THIS PAGE INTENTIALLY LEFT BLANK General Fund The General Fund serves as the chief operating fund for the Cite. It is used to account for all financial resources except those required to be accounted for in another fund. CITY OF STI LLW TE , MINNESOTA . B E A EA ? S, FUNDING SOURCES F 2011 OPERATING EXPENDITURES* Property Taxes 74% Franchise Fees 4% Licenses & Permits _. Intergovernmental ; h a rges for Servi ces 10% Fines & Forfeits Mi celIaneous 1 2011 OPERATING EXPENDITURES* B TYPE Personnel Services Supplies Miscellaneous Services and Charges 1% 15% *Operating Expenditures excludes Capital Outlay and Transfers Out. 4 CITY OF STILLWATER, MINNESOTA GENERAiLFUND SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Taxes Franchise Fees Licenses & Permits Special Assessments Intergovernmental Charges for Services Fines & Forfeits Miscellaneous Revenue Totals EXPENDITURES: General Government Mayor & City Council Elections MIS Support Services Finance Administration Legal/City Attorney Plant/City Hall Community Development Unallocated General Government Total Public Police Fire Inspections Civil Defense Public Safety Total L-1 1�11 «s it 11 Itj Street Public Works Total Expenditure Totals Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES): Transfers in Sale of Property Transfers (out.)* Special Events Fund Library Fund Park Fund Downtown Beautification Fund DARE Fund disc Grant Fund Total Other Financing Sources (Uses) Net increase in fund balance Fund Balance - Jan I Fund Balance - Dec 31 2010 2011 2009 ADOPTED ADOPTED ACTUAL BUDGET BUDGET $ 6,5141351 426,754 4341079 9,072 1,088,446 1,0851263 145)807 $ 6,566,717 $ 430,000 368,520 7,000 881,986 986,820 130,900 A ^e•% r-r%r% 7,066,172 426,000 376,200 15,000 459,374 930,775 1009100 $ Increase (Decrease) $ 499,455 (4,000) 7,680 8,000 (422,612) (56,045) (30,800) romtrl r%f%^%, $ 9,949,539 $ 9,534,443 $ 99511,121 ' $ (23,322} $ 841416 $ 83,621 $ 79.1256 $ (4,365) 4280 41,814 4,230 (37,584) 205,208 276,241 245,1267 (30,974) 354,372 386,964 395,692 8,628 4751655 517,408 4583833 (58,575) 2747413 267,026 2773116 10,090 147,499 208,704 1753523 (33,181) 264,898 262,070 262,440 370 627,825 614,690 719,732 1051042 $ 27438,566 $ 2,658,538 $ 21617,989 $ (40,549) $ 2,739,872 $ 2,744,022 $ 2,657,785 $ (86,237) 1,1441299 1,169,590 11101,825 (67,765) 236,151 n -400 252,674 " r%.4 01 246,889 ON &% .4 & (5,785) 1^ % 4,129,810 $ 4,169,199 $ 41009,410 $ (159,789) $ 320,094 $ 342,543 $ 3509837 $ 8,294 A M -1 C 7 7 M" -1 n 14 11 ri n n n 0% .1 ro or ftr ill-7^ 1,3351870 $ 1,353,575 $ 1,182,414 $ (171,161) a� n n.4jrr nrkn M 4 nrn A e1A A MFOL.9 6%9%0% 01� 04 't ^ .4 -7 -7 404,644 $ 398,617 $ 200334 $ (198,283) 13,943 10,000 25,000 15,000 (32,500) (18,300) (181,300) - (1,054,469) (11047,,676) (1, 20,90 26,767 (6997117) (695,772) (679y635) 16,137 (157000) (15,000) (2,500) R - (201) - $ (1,370,200) $ (1,353,131) $ (175083510) $ (155,379) $ 675,093 $ - $ 192,798 $ 192,798 eJ CA n 4 f-1 4 A r)*14 4nA ■ ^-MA A#%A 25 THIS PAGE INTENTIALLY LEFT BLANK CITY OF STILLWATER, MINNESOTA 2010 2009 ADOPTED SUMMARY OF REVENUES ACTUAL BUDGET TAXES: Property Taxes All Other Taxes Taxes Total FRANCHISE FEES: LICENSES & PERMITS: SPECIAL ASSESSMENTS: INTERGOVERNMENTAL: Federal: Miscellaneous State: Local Government Aid Market Value Homestead Credit PEIAA State Aid Police State Aid Police Training Aid Fire State Aid MSA Local: Highway Aid: Juvenile Officer Aid Intergovernmental Total CHARGES FOR SERVICE: Fire Contracts Admin Charges Other Fees Charges for Services Total FINES & FORFEITS: MISCELLANEOUS: Interest Property Rental Other Miscellaneous Total Total Revenues REVENUES Fund: General Fund Nlimber. loo 2011 ADOPTED BUDGET $ 6P3521378 $ 61490,217 61943pl72 $ 161,973 76,500 123,000 $ Increase (Decrease) 4521955 46,500 $ 6,5147351 $ 615661717 $ 71066�172 $ 499,455 500 390,011 183,297 R $ 426,754 $ 430,000 $ 426,000 $ (4,000) $ 434,079 $ 368,520 $ 376j2OO $ 7,680 $ 9,072 $ 7,000 $ 157000 $ 8,000 27 103727 $ 21000 $ 25500 $ 500 390,011 183,297 R (183,297) 238,947 2341815 (234,815) 15,874 15,874 15,874 155,277 150,000 1507000 9,118 8,500 8,500 100,920 120T000 100,000 (20,000) 132,784 130,000 145,000 15?000 - 3,500 37500 - 34,788 343000 34,000 $ 1,088,446 $ 881,986 $ 459,374 $ (422,612) $ 313,902 $ 323,320 $ 302,775 $ (20,545) 1021000 1027000 102,000 669,361 561 x500 520,000 (35,500) $ 11085,263 $ 986,820 $ 9302775 $ (56,045) $ 145,807 $ 130,900 $ 100,100 $ (30,800) $ 53,306 $ 95,000 $ 50,000 $ (45,000) - - 20,000 20,000 192,461 67,500 67a500 - $ 245,767 $ 162,500 $ 137o600 $ (25,000) $ 9,949,639 $ 91534,443 $ 935111211 $ (23,322) 27 CITY OF STILLWATER, MINNESOTA MAYOR & CI'I`YCOUNCIL d Fund: General Account Number: 100-4000 Department Descri n: The City Council, which consists of the Mayor and four Council Members, is the governing body responsible for directing the activities of the City: The Council meets in open forum on the first and third Tuesday of every month. 2011 Staffing Level: _Part-Time (Benefitted) 5.0 Number of Positions 2011 Budget Im acts: - Personnel costs include a 19.26% increase in health insurance rates, and a 10% increase in dental insurance Contractual services consist of contracted lobbyist services. Memberships & Dues include m e rn be rs h 1 ps to the League of MN Cities (L MC) and th e Gre ater Area Chamber of Commerce. Me, SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Part Time Benefits Personnel Services Total SERVICES AND CHARGES, Contractual they Total Services and Charges MISCELLANEOUS: Memberships & Dues Other Total Miscellaneous Total Expenditures CITY OF STILLWATER, MINNESOTA MAYUR & CITY COUNCIL Fund: General Account Number: 100-4000 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 37,801 $ 37,800 $ 37,800 $ - 21,748 17,342, 19,766 2,424 $ 59,549 $ 55,142 $ 57;566 $ 2,424 $ 1,560 $ 21500 $ 25000 $ (500) 8,614 81759 4,390 (4,369) $ 101174 $ 11,259 $ 6,390 $ (4,869) $ 18,286 $ 15,220 $ 13,300 $ (1,920) 1T410 2,000 211000 $ 14,693 $ 17,220 $ 151,300 $ (1.,920) $ 84,416 $ 83,621 $ 79,250 $ (4,365) 20 CITY OF STILLWATER, MINNESOTA ELECTIONS Fund: General Account Number: 100-4010 Department Description; :0 The Elections Department administers required primary, general and special elections held in the City- The City has four (4) wards with nine (9) voting precincts as follows: Number of Ward Voting Precincts_ 1 2 2 3 3 2 4 2 Total 9 2011 Budget Impacts: - 2011 is not an election year. - Services and Charges includes maintenance costs with Washington County on voting machines, 30 CITY OF STILLWATER, MINNESOTA 81 E CI ONS Fund: General A'out N -iiber: 100-4010 2010 2011 2009 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Salaries - Full Time $ $ 1,600 $ $ (1,600) Salaries - Part Time 285000 (28,000) Benefits 234 (234) Personnel Services Total $ $ 29,884 $ $ (29,834) SUPPLIES: $ - $ 750 $ $ (750) SERVICES AND CHARGES: $ 4,280 $ 8,730 $ 41230 $ (4,500) MISCELLANEOUS: $ - $ 2,500 $ $ (2,500) Total Expenditures $ 4280 $ 41,814 $ 4,230 $ (37,584) 81 CITY STILLWATER, MINNESOTA MIS SUPPORT SERVICES Rind: General Account Number: 100-4020 Department Description: MIS Support Services provides the for purchasing, installation, and support of communication and information 2011 Staffing Level: Full-Time (Benefitted) 1 81 FTE �Ful I Ti me.Equ ivalents)7 2011 Budget Im acts: Personnel costs include COLA on wages, a1Q.26%increase in health insurance rates, and a1U% increase in dental insurance rates. - Personnel costs include e State mandated contribution rate increase to PERA Beginning January 1, 2011, the employers contribution to the plan will increase from 7.0% to 72596 for the Coordinated Plan, Maintenance Agreements include: Arc View Lioenmea. Quick Access, firawoU. SQLSA, postage maohine, oopianu. backup exec and diakheepor for servers. SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Full Time Benefits Personnel Services Total SUPPLIES: Software Other Total Supplies SERVICES AND CHARGES: Internet Professional Services Maintenance Agreements Other Total Services and Charges CAPITAL OUTLAY: Computer Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA MIS SUPPORT SERVICES Fund: General Account Number: 100-4020 33 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 115,192 $ 1161982 $ 1179842 $ 860 27992 28,733 31,292 2,559 $ 143,184 145,715 $ 1490134 $ 3,419 $ 1,095 $ 31000 $ 32000 $ - 690 4,300 47300 $ 1,735 $ 7,300 $ 7,300 $ - $ 21995 $ 3,000 $ 3�280 $ 280 236 2,009 2,000 - 1 3,754 147400 15,700 1,300 890 1 ,326 2x'1'18 292 $ 17,875 $ 21,226 $ 23,098 $ 1,872 $ 42,364 $ 102,000 $ 65;735 $ (36,265) $ 42,364 $ 1027000 $ 650735 S (36,265) $ 205,298 $ 276,241 $ 245,267 $ (39.974) 33 CITY OF STILLWATER, MINNESOTA FiNANCE Fund: General AcoonntNunzber zoo Department Description: The Finance Department accounts for the financial operations of the City and assists the City Treasurer with treasury operations and debt management. 2011 Staffing Level: Full-Time (Benefitt�Ldj_ I 3-51FTE (Full Time Equivalents) 2011 Budget Impacts: -permmnne/ costs include 0% COLA on wages, a 19-26% increase in health insurance rates, and a 10% increase in dental insurance rates. Personnel costs include o State mamdetod000bibutionratoinoreometoPERA Beginning January 1`2O11.the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. Maintenance Agreements include: City's accounting software, credit card processing and the City's webstore. Professional Services include costs for actuarial services. Actuarial services are used to obtain the City's financial obligation for other posternployment benefits required for financial reporting by GASB #43 & #45. Actuarial services are also used for obtaining a refund through the Retiree Drug Subsidy program, CITY of STILLWATER, MINNESOTA . FINANCE Fund: General Acc un Num r: 100-4030 2010 2011 2009 ADOPTED ADOPTED Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET 13UDGET (Decrease) PERSONNEL NEL SERVICES: Salaries - Full Time $ 226,586 $ 230,872 $ 234,193 31321 Benefits 53,796 60,863 079743 7,080 Personnel Service Total $ 2851382 $ 2911535 $ 3019936 10,401 SUPPLIES. $ 4,758 5,300 49300 $ 1 ,000) SERVICES AND CHARGES: Auditing $ 32,188 33,000 $ 383000 $ - Professional Services 4f788 31500 62000 2,500 Maintenance Agreements 18,826 21 ,000 21,800 300 Other 7,022 11,429 7,406 t 2 Total Services and Charges $ 627804 $ 88,929 6$1206 (723) MISCELLANEOUS: $ 17423 $ 1,200 7$ 1 1 50 CAPITAL OUTLAW: Computer Equipment $ - 20,000 20,000 $ - Total Capital Outlay $ - $ 20,000 $ 20,000 - Total Expenditures $ 3541372 $ 3881984 $ 396$92 8,828 CITY OF STILLWATER, MINNESOTA ADmINISTRATION Fund: General Account Number- 100-4040 Department Description: The Administration Department is responsible for carrying out the policies and actions of the City Council. The City Administrator also acts as the City Treasurer. 2011 Staffing Level: Full-Time (Benefitted) 3.4 FTE (Full Time �_quivalents) Part-Time (Non-Benefitted) 1. 0 Number of Postions 2011 Budget Im acts: -Persmnnm/ costs include COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. Personnel costs include a State mandated contribution rateinoraamotoPERA Beginning January 1.2O11 the employers contribution to the plan will increase from 7.0q& to 7.25% for the Coordinated Plan, - Printing and Publishing costs provide for I City newsletter during the year. '/\aeeas/ng costs are property valuation services provided by Washington County, These valuations are then used during the property taxation process. Professional Services include services fees provided to the City labor relation consultants, Safety Training and the Employee Assistance Program. SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Full Time Salaries - Part Time Bel its Personnel Services Total SUPPLIES: SERVICES AND CHARGES: Assessing Professional Services Printing and Publishing Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Computer Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA ADMINISTRATION Fund: General Account Number: 100-4040 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 2801239 $ 280,090 $ 242)404 $ (37,686) 3,338 4,000 4,000 - 64,590 66,211 67633 1,422 $ 348,467 $ 350,301 7 3143037 $ (36,264) $ 1 P827 $ 4,000 $ 31500 $ (500) $ 88,150 $ 88,150 $ 90,000 $ 1,850 5,865 30,000 157000 (15,000) 7)176 71000 73000 - 18,971 24,357 24,546 189 $ 120,162 $ 149,507 $ 136,546 $ (12,961) $ 2,368 $ 3,700 $ 3250 (450) $ 2,831 $ 91900 $ 11500 $ (8,400) $ 2,831 $ 9., 900 $ 17500 $ (8,400) $ 475,655 $ 517,408 $ 458,833 $ (58,575) 37 CITY OF STILLW►TER, MINNESOTA LEGAL /CITYATORNEY Fund: General Account Number: 100-4045 Depa_rtment Description. The City has on retainer (paid through payroll with PIA benefits deducted) a law firm that provides prosecution services and legal counsel to the City Council and the City Staff for City related issues. 2011 Staffing Level: Part-Time (Non-Benefitted) 1 1.01 Number of Postions 2011 Budgelm acts: - Personnel costs include COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PERA , Beginning January 1, 2011, the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. N otes: - LegallProsecution costs are partially recovered through restitution fees. These fees are recorded as Fines and Forfeits-Ordinance Violations in the revenue section of the General Fund. 38 CITY OF STILLWATER, MINNESOTA 39 GAL /Ci AToRNEY Fund: General Account Number: loo-,o45 2010 2011 2009 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Retainer $ 98,882 $ 101,585 $ 101Y585 $ - Benefit 24,279 25,560 28,852 37292 Personnel Services Total $ 123,161 $ 1271145 $ 130,437 $ 31292 SUPPLIES- $ 2,900 $ - $ 1 X600 $ 1,500 SERVICES AND CHARGES: Legal/Prosecution $ 136,821 $ 1373000 $ 137,000 $ - her 11,460 2,881 8,079 5,198 Total Services and Charges $ 148,281 $ 139,881 $ 1455079 $ 5,198 MISCELLANEOUS: $ 71 $ - $ 100 $ 100 Total Expenditures $ 274,413 $ 267,026 $ 277J 16 $ 10,090 39 CITY OF STILL WATER, , MIN ESOTA P NT HAL pp, A LA Account Fund: General Number: Department Description. Plant/City Hal[ provides boiler, HVAC, and general building maintenance including janitorial services for City Hall. 2011 Budget Impacts: - Professional Services include the contracting of janitorial services. - Maintenance Agreements include: HVAC system, boiler maintenance, fire extinguisher maintenance, alarm monitoring system, and elevator maintenance. SUMMARY of EXPENDITURES SUPPLIES: SERVICES ES AND CHARGES: Contractual Other Professional Services Telephone Electricity Natural Gas Maintenance Agreements Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Improvements Machinery & Equipment Total Capital Outlay Total Expenditures CITY of STILL WATER, MINNESOTA PLANT /CITY HALL Fund: General Account Number: 1-00-401;0 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 9 1340 $ 81300 12,800 41500 331147 $ 257000 25,000 - 7 0 10,000 5,000 51000) 817603 14,000 01000 (81000) 34,011 361750 35,500 (11250) 15,582 25,000 20,000 5, 000) 7216 171500 17,500 - 1 8,554 22,654 17,823 {5,031 $ 118,023 150,904 $ 125,523 $ (24,281) 394 $ 500 700 $ 200 $ 18,274 $ 491000 35,400 $ 13,000) 1 ,462 - wh 191736 $ 49,000 35,400 $ 1 3,000) $ 1471499 $ 2081704 75,523 (3351 81) 41 CITY OF STILLWATER, MINNESOTA CommuNiTYDEVIELOPMENT A Fund: General '' W. Account Number: ioo -405 Department Description; The Community Development Department is responsible for zoning administration r comprehensive planning, historic preservation and economic development/redevelopment. The department assists the citizen committees of the Planning Commission, Parks s Board, Heritage Preservation Commission, Downtown Parking ing Commission and ,point Stillwater Township City Planning Board in carrying out their responsibilities, 2011 Staffing Level: Full -Time Benefitted ) 2.5 1 FTC Fu[I Time Equivalents) 2011 Bud-get Imp acts: - Personnel nests include % COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PIMA . Beginning January 1, 2011, the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. 2 CITY OF STILLWATER, MINNESOTA 43 ommuNi Y JVIE O M NT Fund: General Account Number. 10 - 04055 2010 2011 2009 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDiTURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Salaries - Full Time $ 183,890 $ 184)165 $ 185,609 $ 1,444 Benefits 46,392 47,379 52,726 5t347 Personnel Services Total $ 230,192 $ 231,544 $ 238,335 $ 61791 SUPPLIES: $ 3,376 $ 6,909 $ 5;400 $ (11500) SERVICES AND CHARGES: Other Professional Services $ 20,000 $ 11500 $ +1,500 $ - Other 9,571 14,426 12,705 (11721) Total Services and Charges $ 297571 $ 151926 $ 142205 $ (1 J721) MISCELLANEOUS: $ 1,759 $ 2,500 $ 3,000 $ 500 CAPITAL OUTLAY: Computer Equipment $ - $ 51200 $ 11500 $ (3,700) Total Capital Outlay $ - $ 57200 $ 1,500 $ (3 r700) Total Expenditures $ 264,898 $ 2621070 $ 262$440 $ 370 43 CITY of STILLW TER, MINNESOTA LICE r Fund: c�. General+ Account Number: 10 - o o + Department Description: The Police Department provides law enforcement services and education to its citizens. 2011 Staffing Level Full -Time Benefitted 22.75 )=TE (Full Time E uivalents Part -Tire Non - Benefitted 2.00 Number of Positions 2011 Budget Impacts: - Personnel costs include 0% C 0 L on wages, a 19.26 % increase in health insurance rates, end a 10% increase in dental insurance rates. - P r onnel costs include a State mandated contribution rate increase to PERA . Beginning Januar y 11 2011, the employers contribution to the plan wi ll increase from 7.0% to 7.25% for the coordinated Plan and from 14.1 % to 14.4% for the Police and Fire Plan. - Terminal Access Charge - include costs for access to the County and State record system. -- 800 Mhz Radio Service - is new mandatory radio service implemented by Washington County. -- General Insurance includes insurance costs for worker's compensation, property and general liability insurance for the department. 44 SUMMARY of EXPENDITURES PERSONNEL SERVICES: Salaries - Full Time Overtime - Full-Time Salaries - Part Time Benefits Personnel Services Total SUPPLIES: Automotive Fuel Other Total Supplies SERVICES AND CHARGES: 800 Mhz ludic Service Fee Terminal Access Charges General Insurance Maintenance Agreements Other Total Services and Charges MISCELLANEOUS; CAPITAL OUTLAY: Machinery & Equipment Computer Equipment Automotive Equipment Total Capital Outlay Total Expenditures CITY F STILL WATE , MINNESOTA POLICE Fund: General Account Number: ioo -4o6o 45 2919 2011 2999 ADOPTED ADOPTED Increase ACTUAL BUDGET BUDGET (Decrease) $ 13597,717 $ 126191190 '1,5791853 (39,537) 1262416 981000 95,000 38,642 40x099 40 #000 5627691 803,590 6951844 32,254 $ 21325,405 21317,780 $ 21310,497 $ (71283) $ 47,572 70,000 70,000 $ - 163895 31,000 31,000 - 64,487 $ 1 01,009 $ 1 012000 $ $ 17,089 $ 15,000 $ 16,000 $ - 29,4 261500 25,500 - 7,79 811392 86,438 57046 6,000 5000 - 9, 48 63,500 73 #500 10$000 1821510 $ 192,392 207Y438 15,046 211201 $ 13,950 13,950 r $ 24 1792 $ - $ - $ - 221756 287999 24,900 (41000) 981680 901000 - (90,000) $ 146,228 $ 118,900 $ 24,900 (94, 000) $ 23739,872 21744,922 $ 21857,786 $ (88,237) 45 CITY OF STILL DATE , MINNESOTA Fuld: General .. �. Account Number: er: x.00 -4070 Department Description: The Fire Department provides fire protection services and education to its residents along with Stillwater Township and a portion of the residents of City of Grant and May Township. 2011 Staffing Level: Full -lime (Benefitted) 8.25 FTE (Full Time Equivalents) Part -Time (Non- Benefitted) 33.00 Number of Postions 2011 Bud-get Im acts: Personnel costs include 0% COLA on wages, a 1 9.26% increase in health insurance rates, and a 10 % increase in dental insurance rates. Personnel costs include a State mandated contribution rate increase to PER A. . Beginning January 1, 2011, the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan and from 14.1 % to 800 Mhz Radio Serer " - is a new mandatory radio service implemented by Washington County. - General Insurance includes insurance costs for worker's compensation, property and general liability insurance for the department. Notes: -The Stillwater Fire Department also provides fire protection services to Stillwater Township and to portions of City of Grant and May Township. Reimbursement ment for these services is provided by a contractual agreement and recorded as Charges for Services -Fire Contracts in the revenue section of the General Fund. 4 SUMMARY OF EXPENDITURE PERSONNEL SERVICES: Salaries.. Full Time Overtime - Full -Time Salaries - Fart Time Benefits Personnel Services Total APPLIES: Automotive Fuel Other Total Supplies SERVICES AND CHARGES: 800 Mhz Radio Service Fee General Insurance Vehicle Repair Charges Other Total Services and Charges MISCELLANEOUS: CAPITAL INLAY: Improvements Machinery & Equipment Computer Equipment Automotive Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATE , MINNESOTA FiRE Fund: General Account Number. goo - 47 2010 2011 2009 ADOPTED ADOPTED $ 1ncrease ACTUAL BUDGET BUDGET (Decrease) 880,973 $ 5817810 $ 634,291 $ (47,525) 871297 481294 480987 693 118,769 119,090 1101000 - 1 88,898 2071198 207,951 755 $ 9281839 9471398 $ 901,229 (48,077) $ 9,521 $ 171000 $ 17 0 0 $ .. 169752 10,859 18 #850 - $ 28,273 33,859 33,860 $ - $ 13,316 14,590 $ 16,800 $ 2,300 53,187 50,017 52 497 (31520) 281153 18,000 20,000 21000 2'1,483 22,850 289800 21759 $ 116,119 $ 1117367 $ 114,897 31830 $ 31898 4,150 4218 - $ - 17,842 17,842 .. 17 #962 39,000 25,157 (13,843) 14,957 18,075 47700 (11,375) 397251 - - - 72,170 $ 727917 47,899 $ (25,218) 111 01,825 $ 11169,590 $ (67,765) 19144,299 47 CITY OF STILLWATER, MINNESOTA INSPECTIONS Fund: General Account Number: 100-4080 Department Description: The Inspections Department provides technical assistance, plan review services and plumbing, mechanical and building inspections services for code compliance. 2011 staffing Level: Full -Time enefitted 2. FTC Full Time Equivalent s 2011 Budget Impacts: - Personnel costs Include 0% COLA on wages, a 1 9.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State rnandated contribution rate increase to PERA . Beginning ,January 1, 2011, the employers contribution to the plan will increase from % to 7.25% for the Coordinated Plan. Notes: - The Building Permit Surcharge expenditure line item is the disbursement of the mandatory fees collected with building permits to the State of Minnesota. These fees collected are recorded as Charges for Services - Buildings Permit Surcharge in the revenue section of the General Fund. SUMMARY Y F EXPENDITURES PERSONNEL NNEL SERVICES: Salaries - Full Time Overtime - Full --Time Benefits Personnel Services Total SUPPLIES: SERVICES AND CHARGES: Building Permit Surcharge Other Total Services and Charges MISCELLANEOUS: CAPITAL INLAY: Computer Equipment Total Capital Outlay Total Expenditures CITY OF STILLII ATER, MINNESOTA INSPECTIONS Fund: General Account Number: 100-4080 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 1581852 $ 1593840 $ 1 58,640 $ (1 1200) 3,237 - - - 4 ,909 431594 48,811 5,217 $ 204 1998 2031434 $ 207,451 4,01 $ 2,960 ,0 61000 $ - $ 15,888 $ 15,000 15,000 $ - 8,0 8 131290 17,688 4,298 $ 24,548 $ 28,290 32,588 41298 435 $ 850 $ 850 $ - 3,212 $ 14,100 - $ (14,100) 3121 141100 - $ 14,100) $ 2361151 2527674 246x889 $ (51785) 49 CITY OF STILLWATE , MINNESOTA CrvILDEFENSE Fund: General Account Number: x --4085 De artment Description. The Civil 'Defense Department provides for the maintenance of the City's civil defense warning system. Notes: - The City maintains civil defense sirens located at: 1 1419 4th. Street; 116 Willard Street 1111; 900 Nighten ale Blvd; � 200'1 Willard Street w; and 13300 McKusi i d Ln N. 0 SUMMARY OF EXPENDITURES SUPPLIES: SERVICES AND CHARGES: MISCELLANEOUS: CAPITAL OUTLAY: Machinery & Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA CIVIL DEFENSE Fund: General Account Number: 100-4085 51 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 69 $ 100 $ 100 $ - $ 524 $ 2,263 $ 22261 $ (2) $ 445 $ 550 $ 550 $ - $ 8,450 $ - $ - $ $ M50 $ - $ $ - $ 21913 $ 2$911 $ 9,488 $ (2) 51 CITY OF STILL1IATE, MINNESOTA NGINEERING Fund: General ,account Number: 100 -4090 Department Description: The Engineering Department provides for the coordination, administration, and engineering of the City's transportation and utility infrastructure. The Department is supported by fees charged to developers and City projects. 2011 Staffing Level: Full - Time Benefitted FTC Full Time Equivalents) 2011 Budget Impacts: Personnel costs include 0% COLA can wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. P r onnel costs include a State mandated contribution. rate increase to PERA . Beginning January 1, 2011, the employers contribution to the plan wi[E increase from 7. 0% to 7.25 % for the Coordinated Plan. General Insurance includes insurance costs for worker's compensation, property and general liability insurance for the department. Notes: Reimbursement of fees charged to projects are recorded as Engineering Charges in the revenue section of the General Fund. 5 CITY OF STILLWATER, MINNESOTA ENGINEERING Fund: General Account Number: ioo- 090 2010 2011 2009 ADOPTED ADOPTED $Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL EL EF V'ICES: Salaries - Full Time Overtime - Full -Tim Benefits Personnel Services Total SUPPLIES: Automotive Fuel Hydrants Other Total Supplies SERVICES AND CHARGES: Consulting Engineer General Insurance Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Computer Equipment Total Capital Outlay Total Expenditures 231,100 234,256 2373r667 31411 1 41000 2,000 (21000) 65,663 681492 763243 7,751 296,824 $ 308,748 $ 315,910 91132 1,557 $ 21500 $ 21500 $ 61434 41500 3,800 (700) 455 41550 11800 (2,750) 81446 $ 11 T550 $ 8j 00 $ (31450) - 800 800 w 103 824 147840 17,977 31137 31368 51050 47660 (400) $ 14,19.2 201690 231427 2,737 $ 632 111 13000 $ 1 - $ 2,400 21400 - $ - 2,400 2,400 3299094 3429543 3513837 87294 CIT Y OF STIL.LIIII', TE , MINNESOTA ST ETS Puna: General Account Number: 100-4100 ` Department Description: The Streets Department provides ongoing maintenance of the City's street system and City vehicles and equipment. 2011 staffing Level: Full -Time Benefitted FTE (Full Time Equivalent 2011 Budget Impacts: - Per onnel costs include 0% C 0 LA on wages, a 19.26 % increase 1n health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PEI A . Beginning January 1, 2 0111 the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. - Seal coating aching of $125,000 will seal coat roughly 6-7 miles of streets. Seal coating is a common preventive maintenance tool that extends the life of the street. The City's goal is to seal coat a street every 7 gears. With the City having 80 miles of streets, an estimated 11 . miles of streets needs to be seal coated every gear. The goal of the City Council is to gradually increase the budget amount of seal coating every year to get to the 11.5 miles of seal coating every gear. NOTE: For 2011 this program was postponed. A study by several cities is being conducted to judge the integrity of the supplies being used in the industry. - Contractual includes the following: utility locates, cleaning services at the Public Works Building, wireless service, downtown snow removal, hazardous material disposal, and fire system inspections. - General Insurance includes insurance costs for worker's compensation, property and general liability insurance for the department. - Maintenance A re rrrents includes the following agreements: HVAC maintenance, printer maintenance, fire extinguisher maintenance and fleet maintenance software Car egra . CITY OF STILL HATER, MINNESOTA TA 9 i d STREETS Puna. General Account Number. 100 -41 2010 2O11 2009 ADOPTED ADOPTED $ Increase SUMMARY F EXPENDITURES ACTUAL. BUDGET BUDGET" (Decrease) PERSONNEL SERVICES: Salaries - Full Time $ 379,840 $ 3441101 $ 339,82' $ (41230) Overtime - Full -Time 92524 87000 8,000 - Salarls - Part Time 49208 131800 - (13,800) Benefits 105,422 1171320 130,955 13,030 Personnel Services Total 4997002 $ 4833221 $ 478,777 $ (4,444) SUPPLIES; Asphalt 321912 $ 401000 $ 360000 $ (5,000) Sand & Salt 58,207 72,000 649000 (31000) Automotive Fuel 397204 501000 50,000 - Equiprent Repair Supplies 201529 30,000 30,000 - Other 137379 501000 34,000 10,000 Total Supplies 1641291 242,000 $ 213,000 $ (29,000) SERVICES AND CHARGES: Contractual $ 251804 $ 321000 $ 205,000 (12,000) General Insurance 48,038 487111 50,750 2,039 Maintenance Agreements 5t930 81000 7,250 (750) Seal Coating /Patching 1041039 1251000 - (125,000) Other 409410 003800 53,300 (7,500) Total Services and Charges $ 2241221 $ 273,911 $ 1312300 $ (142,011 MISCELLANEOUS: $ 51080 7700 7,300 $ (400) CAPITAL OUTLAY: Improvement 51950 - $ r $ - Ilachinery & Equipment 11 5,91 1 - Computr Equipment - 41200 1,200 Automotive Equipment 341 - w - Total Capital Outlay $ 123,202 $ 4,200 $ 1,200 $ Total Expenditures $ 110151776 $ 110111032 031,577 $ (178,455) CITY of STILLW TE , MINNESOTA UNALLOCATED } Fund General Account Number- 100-4140 artment Description. .De Unallocated expenditures are those expenditures that can not be specifically assigned to a certain department. 2011 Bud-get Imp acts: Retiree HospitallMedical benefits include a 19.26% increase in health insurance rates. - The Fire Relief Association line item expenditure is the disbursement of the Mate of Minnesota's minimum support rate to the Stillwater Fire Belief Association's pension plan. Support rates are established by the State Legislature. Receipt of these funds from the State are recorded as Inter ov mmental -Fire Stale Aid in the revenue section of the General Fund. Notes: Retiree Flo pi al 1l edic l benefits are post health care benefits available to employees who were hired prior to December 31, 19 8 8, are eligible for PEA retirement benefits, and been ern plyed with the City fo 10 years or more. At the end of 2010, there were 43 participants and 14 employees currently employed and eligible for the benefit. CITY F STILL WATER, MINNESOTA UNALLOCATED Fund: General Account Number: 100-4140 2010 2011 2009 ADOPTED ADOPTED $increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Retiree Hospital/Medical SERVICES AND CHARGES: Community Thread (aka CV S) Youth Service Bureau Fire Relief Association Other Total Services and Charges MISCELLANEOUS: Contingency Other Total Expenditure 445,784 4911340 596,382 $ 1057042 15,275 - $ R $ - 33,800 - 1001870 120,000 10 1r 00 (20,000) 102 350 360 1507047 120,850 '100,350 (20,000) $ - $ 81000 '1,0 $ (21000) 31 ,994 -- 22,000 221000 $ 31,994 8,000 $ 23,000 $ 29,000 $ 6272825 6141090 $ 719,732 $ 1051042 7 THIS PAGE INTENTIALLY LEFT BLANK Special Revenue Funds Special Revenue Funds are used by the City to account for revenues derived from specific revenue sources, They are usually required by state statute, charter provisions, local ordinances to finance particular functions or activities of a government. CITY F STILLWATE , MINNESOTA tea, SPECIAL C) r f C� 00 FUNDING SOURCES FOR 2011 OPERATING EXPENDITURES* Intergovernmental 1% Charges fo, r Services ti a� Miscellaneous Transfer -In General Fund 50% 2011 OPERATING EXPENDITURES* Y TYPE Supplies Services and Charges r_ Personnel Services 42% Miscellaneous 'a *Operating Expenditures excludes Capital Outlay and Transfers Jut. All CITY OF STILL HATER, MINNESOTA SPECTAL REVENUE FUNDS 2010 2011 SUMMARY OF REVENUES 2099 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Licenses & Permits $ 1 X049 1,000 $ 11000 - Intergovernmental 34,050 341050 341050 Charges for Services 116991772 11605#100 1 6051800 700 Interest Earnings 26,808 45,090 263000 (19,000) Miscellaneous 931091 83 }900 90,710 61810 Revenue Totals $ 1,854,770 $ 1,769,050 $ 1,757 #500 $ (111490) EXPENDITURES: Public Safe DARE $ 1,728 11500 $ 500 $ (11000) Public forks Washington County Recycling Grant $ 18,192 $ 34,050 $ 36,650 $ 21900 Culture & Recreation Special Events $ 109,600 $ 983300 $ 98,300 $ - St Croix valley Recreation Center 1,388,318 114071461 11319x949 (87,512) Library 1,1081304 1,192,776 111 86509 (71267) Parks 7622181 9161622 882,935 (33,687) Culture & Recreation Total $ 31368,403 $ 3,615,159 $ 314869693 $ (128,466) Total Expenditures $ 313881323 $ 3:650,709 3,523,243 (127,466) Revenues over (under) Expenditures (115331553) $ 1 #881,659) $ ('1, 65,683) $ 118,976 OTHER FINANCING SOURCES (USES): Transfers in; General Fund $ 11788,586 $ 117613748 $ '1,33,8{44 100,540 Capital Outlay Bond Proceeds 1473039 3931150 268,900 1147090 Transfers (out): Debt Service (457,809) (2743239) (213,751 ) 609488 Sale of Property 990 - - Capital Lease Proceeds 51,324 - - w Other Financing Sources (Uses) Total $ 11539,130 $ 118801659 11788,993 $ 275,628 Net increase in fund balance $ (39423) (11900) $ 23,310 247310 Fund Balance - Jan 1 11717185 1,713172 11712 ,v762 (1,000) Fund Balance -- Dec 31 $'1,713,762 $ 1,7122762 1,736,072 $ 231310 1 CITY of STILL W TE , MINNESOTA ESOT SPECIALEvENTs 1BF4 Fund 4 Type: Special Revenue Fund Number: 200 .�3 Fund Des riotio n: The Special Events Fund accounts for special events held within the City. Fundin Primarily financed with donations, reimbursement of services and a transfer (operating) from the General Fund. 2011 Bud-get Impacts: - Ticket Sales - In order to defray costs associated with the Lumberjack Days Event, an access ticket charge was implemented with the 20 0 B-201 2 Lu m berjack Days Agreement (refer to section 5 .h. of the agreement for further details) that provides the City with 35% of the grass ticket sales. This agreement was approved by the City Council on December 3, 2007 by resolution 007- 232). - Fireworks consists of a City contribution of $40,000 and contributions from other sources of $15,000. - Contribution is a contribution to the Art leach program. Policing services are services provided by outside Police Departments for major events held within the City limits. These services are sometimes reimbursed by the event holders. 2 CITY OF STILLWATE , MINNESOTA 3 SPECIALEVENTS Fund Type: Special Revenue Fuck Fund Number 200 2010 2011 SUMMARY F REVENUES ENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES CTU L. BUDGET BUDGET (Decrease) REVENUES: UES: Charges for Services: Ticket Sales (LJD) $ - $ 45,000 45,000 $ Miscellaneous: Donations $ 331000 $ 15,000 $ 16,000 $ Refunds Reimbursements hursements 2'1 , 91 202000 20,000 Other 074 - - - Miscellaneous Total $ 55,393 $ 35,000 $ 35 #000 $ - Revenue Total $ 55,393 $ 30,000 80,000 $ EXPENDITURES: Services and Charges: Policing/Fire Services $ 341962 $ 403000 40,000 $ - ther 500 11000 1 000 - Services and Charges Total 351462 413000 $ 41 }000 $ - Miscellaneous: Fireworks 31000 551000 55,000 $ - Contributions -- 2,000 21000 - ther 11138 300 300 - [i scellaneous Total 741133 571300 $ 57,300 $ - Total Expenditures 1091600 961399 $ 98,300 $ - Revenues over (under) expenditures (53,707) (18,300) $ (189300) - OTHER FINANCING SOURCES: Transfer I n: General Fungi $ 32,509 181390 $ 18,300 $ Net decrease in fund balance $ (21,207) - $ - Fund Balance - Jan 1 43,614 229407 2 #407 - Fund Balance - Dec 31 $ 22,407 $ 221407 $ 22,407 $ - 3 CITY OF STILLWATER, MINNESOTA ST CROIX VALLEY REC CENTER Fund Type: Special Revenue Fund Fund Number: 202 Fund Description: The St. Croix Valley Recreation Center provides recreational opportunities for all ages and skill levels to participate in various indoor recreational activities, such as ice skating, hockey and walking. The City contracts with an outside vendor to staff and manage the complex. Fundina: Financing is provided by the fees generated by the facility, Capital Outlay purchases are financed with General Obligation Capital Outlay Bonds. 2011 Budget Impacts:. - 0n May 24, 2 010 the nark and Recreation Board approved a n increase in rates for the 201 /211 season. The new rates reflect a $5/Hour increase in ice rental times and a $1 Oflour increase in field house rentals. The new rates for the 20101261 1 season are as follows: our" F Hourly Rates: Prime Time n Su li.e Non Primp Ti: m mer Re—cCienter Ice $175/hour $150/hour $150/hour Lily Lake Ice $155/hour $150/hour $1501hour Full Field Hours $2501hour $1 90/hour $190/hour Half Field House $150/hour $1351hour $135 /hour EOther Rates: Open Skating $3.00/child $4.001adult $7.00/family Open iField $3.001child $4.o01 dolt $7.00/family - Commitment-St Croix Soccer Club - On April 6, 2010 the City Council authorized the replacement of the turf in the St Croix Valley Recereation Center fieldhouse. The Council authorized a City contribution of $240,000 (set aside in reserves) towards the replacement with the St Croix Soccer Club commiting to paying the balance of the cost over a ter year period. With the first commitment payment being paid in 2010, the amount in the 2011 budget of $18,310 represents the 2nd commitment payment out of 10. - Net Increase in Fund Balance will be used to repay the St Croix Val I ey Recreation C e n ter's fund ba I a nce which was used to pay for the advancement of funds n eeded for the 10 year commitment of the St Croix S occe r Club. 64 CITY OF STILLWATER, MINNESOTA ST CRUIX VALLEY 11EC CENTER Fund Type: Special Revenue Fund Fund Number: 202 SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Charges for Service Interest Earnings Commitment -St Croix Soccer Club Miscellaneous Revenue Total EXPENDITURES: St Croix Vallev Rec Center Supplies Services & Charges Miscellaneous Capital Outlay Rec Center Total St Croix Vallev Fieldhouse Supplies Services & Charges Miscellaneous Capital Outlay Fieldhouse Total Lily Lake Ice Arena Supplies Services & Charges Miscellaneous Lily Lake Ice Arenas Total Total Expenditures Revenues over (under) expenditures OTHER FINANCING SOURCES (USES): Proceeds from Capital Lease Transfer In Capital Outlay Bond Proceeds Transfer (Out) Debt Service Other Financing Sources (Uses) Total Net increase (decrease) in fund balance Fund Balance - ,fan 1 Fund Balance - Dec 31 1481163 2010 201'1 71000 2009 ADOPTED ADOPTED Increase ACTUAL BUDGET BUDGET (Decrease) 1 ,621,326 11 041300 1,483,500 $ (20,803) 247270 45,000 24,000 (21, 000) - - 18,310 181310 1481163 126,500 $ 1332500 71000 7131 6801798 683,333 12,840 101680 18,500 17,500 (1,003) 41692 $ 8,400 81400 - 1 957817 275,7'14 276,965 241 11054 3,200 32,200 - - 70,000 - {705000} 201,263 357,314 $ 237,555 (89,759) 61654 102700 $ 10,700 - 173,227 180,599 180,506 93 $ 51 , 324 - $ _ _ 891526 132,403 26,20 (106,200) (45T518) (2743239) (213,751) 60,488 (318,668) 1411839 (187,851) (48,712) (55,539) $ - 18,31 18,310 CITY of STILLW TE , MINNESOTA F IBRARY # { f Fund fie: Special Revenue Fund Fund Number: ber: 230 Fund Description: The Stillwater Public Library provides a wide variety of library services to the City's residents and surrounding communities. This fund accounts for service operations of the library and the maintenance of the library building. 011 Staffing Level: Full Time 4.20 FTE (Full Time Equivalents) Part Time (Benefited) 6.73 FTE (Full Time Equivalents) Part Time (Von- Benefited) 3. FTF (Full Time Equivalents) Funding; Primarily funded by a transfer (operating) from the General Fund_ Capital Outlay purchases are financed primarily with General Obligation Capital Outlay Bonds. 2011 Bud-get Impacts: - Personnelc st include % COLA on wages, a 19.26% increase in health insurance premiums with the Library fund funding 0% of that increase, and a 10no increase in dental insurance rates. - Personnel costs include a Mate mandated contribution rate increase to PE RA . B eg inning January '1, 2011, the employers contribution to the plan will increase from 7. 0% to 7.25% for the Coordinated Plan. - Net 'Decrease in Fund Balance wi I I be funded with the Library fund's available Fund Balance. M CITY OF STILL "ATE , MINNESOTA + LIBRARY Fund Type: : Special Revenue Fund Fund Number. 230 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) UES: REVENUES: Charges for services: Meeting Room Rental Fees 523873 $ 35,000 $ 53,000 $ 18,000 Other 9,530 8,300 81300 Charges for Services Total $ 02,533 $ 437300 $ 61,300 $ 18,000 Miscellaneous: Processing Fees 91883 $ 111000 91000 $ (2,000) Registration - 15,000 8,000 (71000) Other 10 }575 141400 14,900 500 Miscellaneous Total $ 23,458 $ 40,400 $ 3'1,900 $ (8,500) Revenue Total $ 887991 $ 83700 $ 93,200 $ 9, 500 ES: EXPENDITURES: Operations: Personnel Services $ 730 1048 7359528 $ 7453387 %859 Supplies 98,874 1 027350 90,340 (41010) Services & Charges 531090 581004 583196 192 Miscellaneous 21707 2,500 21200 (400) Capital Outlay - 58,200 68,200 - perations Total 884,720 $ 95607582 $ 962,323 $ 5,041 Plant Personnel Services $ 100,418 $ 102 1229 $ 1081,045 $ 51813 Supplies 71236 97300 91160 (1 50) Services & Charges 103}499 1191065 101,791 (17,274) Miscellaneous 39281 2 #800 13,000 11300) Capital Outlay 3,150 3,200 3,200 - Plant Total $ 2231584 $ 233,094 $ 223,186 $ (129908) Total Expenditures 1,108, 304 $ 11192,776 $ 1 Ir185, 609 $ (79207) Revenues over (under) expenditures $ (11019,313) $ (11109,076) $ (1,092,309) $ 15,707 OTHER FINANCING SOURCES: Transfer In: General Fund $ 110541459 11047,676 $ 19020,909 $ (20,707) Capital Outlay Bond Proceeds 31150 011400 61,400 - Other Financing Sources Total $ 130571619 $ 1,109, 070 $ 1,082309 $ (20,707) Net increase (decrease) in fund balance $ 382305 $ - (10,000) $ (105000) Fund Balance - Jan 1 277732 50,038 56jr038 - Fund Balance -- Dec 31 $ 66,038 $ 55,038 0 ,1038 $ (10,000) 67 CITY OF STILLWATER, MINNESOTA PARICS T Fund Type: Special Revenue Fund Fund Dumber: 240 Fund Description: y The Pars Department/Fund provides for maintenance of City owned parks. 2011 staffing Level: Full Time 7.2 51 FTE (Full Terre Equivalents Fundir: Primarily funded by a transfer (operating) from the General Fund. capital Outlay purchases are financed with General Obligation Capital Outlay Bonds. 2011 Budget Impacts: - Personnel costs include 0% COLA on wag es, a 19. % increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PE RA . Beginning January 1 , 2011, the employers contribution to the plan wi I1 increase from 7. 0% to 7. % for the Coordinated Plan. - Other Professional Services include tree inspector services of $2,400. - Tree Removal is for the removal of trees due to Dutch Elrn & Oak Wilt diseases. .: CITY OF STILLWATER, MINNESOTA i Tre PARJkS Fund Type: Special Revenue Fund 1 Fund Number. 010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET 13UD GETi (Decrease) REVENUES: Licenses and Permits 1,049 $ 11000 71000 $ - Charges for Service 15,913 12,500 %000 3,500 Miscellaneous 6,889 8,000 52000 3, 000) Revenue Total 23,851 21,500 22,000 500 EXPENDITURES: Personnel Services: Salaries -- Full Time $ 395,808 365,096 '$ 364,962 (134) Overtime - Full Time 5,872 4 }200 69000 Salaries - Part Time 10,638 13,800 (13,800) Benefits 124,467 725,835 1410 48 16,013 Personnel Services Total $ 5361785 $ 508,931 $ 512,810 $ 2,079 Supplies: Automotive Fuel 1 21907 $ 17,500 $ 17,000 $ (500) Other 40,668 47,500 46,900 (600) Supplies Total $ 53$75 $ 65,000 $ 03,900 $ (1,100) Services and Charges: Contractual Services $ 41396 21000 2,260 $ 250 Tree Removal 81392 121500 7P000 (5,500) Other Professional Services 10,015 1 '1, 000 45000 (7,000) General Insurance 50$674 51,641 601576 8,934 Other 4'1,535 57,800 46,600 (12,200) Total Service and Charges $ 115,012 $ 134,941 119,425 (15,516) Miscellaneous: $ 2,449 $ 8,400 $ 51500 $ (21900) Capital Outlay: Improvements 54,360 $ 150,350 112,800 $ (37$50) Machinery & Equipment - 49,000 68,500 19,500 Capital Outlay Total $ 54,360 199,350 181,300 $ (18,050) Total Expenditures $ 7621181 $ 916,622 5821935 $ 19,971 Revenues over (under) expenditures $ (738,330) (895,122) (860,935) 20,471 OTHER FINANCING CI SOURCES: Transfer Ire. General Fund $ 699,117 695,772 $ 679,635 16,137) Capital Outlay Bond Proceeds 54,363 1993350 181,300 (18,050) Transfer Out (291 ) - Bale of Property 990 - -- _ Other Financing Sources Total 754,179 895,122 860,935 (34,187) Net increase (decrease) in fund balance 15,849 $ - $ - Fund Balance - Jan 1 275,287 291 ,136 291,136 Fund Balance - Dec 31 $ 291,136 $ 291,136 2917136 $ i CITY OF STILLWATER, MINNESOTA DOWNTOWN BEAUTIFICATION Fund Type: Special Revenue Fund Fund Number: 251 Fund Description: The Downtown Beautification fund was established by Resolution 2011 -07 (dated January 4, 2011 ) and it accounts for funds related to the ownto ern beautification. Fundirc�, Funded primarily with a transfer from the general fund. Donations to the fund are anticipated. 2011 Bud-get Impacts: - all expenditures of the fund are subject to approval by the City Council in its annual "Downtown Beautification Won Program s of this writing the vwrork program for 2011 has not yet been esta bli shed. 70 CITY OF STILLWATE , MINNESOTA DOVVNTowN BEAUTIFICATION Fund Type: Special Revenue Fund Fund Number: z,Y 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) OTHER FINANCING SOURCES. Transfer In: General Fund Net decrease in fund balance Fund Balance 4 Jan 1 Fund Balance - Dec 31 71 - $ 151000 $ 151000 - $ 15,000 15,000 1 #000 15,000 CITY OF STILLWATER, MINNESOTA WASHINGTON CO RECYCLING GRANT Fund Type: Special Revenue Fund Fund Number: 255 Fund Description The Washington County Recycling Grant Fund accounts for the recycling grants received from Washington County. The funds from this grant can only be used for purposes specified by the grant agreement. Fur�inq: Funded exclusively with grant funds received from Washington County and interest earned on investments the fund's prorated share). 2011 Budqet Impacts: - Services and Charges costs include education services and materiels, 7 CITY OF STILLWATER, MINNESOTA WASHINGTON CO RECYCLING GRANT '' `" Fund Type: Special Revenue Fund Fund Number: 25 SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Intergovernmental Interest Revenue Total EXPENDITURES: Services and Charges: Miscellaneous: Expenditure Total Net increase in fund balance Fund Balance -plan 1 Fund Balance - Dec 31 010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease $ 34,050 $ 341050 $ 34,060 $ 361351 $ 347050 36,050 21000 $ 91611 11,300 10,500 (800) $ 81581 $ 221750 26,550 $ 21800 $ 181192 $ 341050 :050 $ 21000 $ 181159 $ - $ - $ - 73 CITY OF STILLWATER, MINNESOTA Dmm Fund Type: Special Revenue Fund L .4 A W Fund Number-. 263 Fund Description: The DARE Fund accounts all receipts and expenditures associated with the drug awareness program. Pursuant to Mato m and ate, funds received for this program are used excl usively for this program.. Fundir Funding is provided by donations and a contribution from the General Fund. 74 CITY OF STILLWATER, MINNESOTA Dmm Fund Type: Special Revenue Fund Fund Number. 3 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Miscellaneous: Donations Interest Revenue Total EXPENDITURES: Supplies: Revenues Over (Under) Expenditures OTHER FINANCING SOURCES: Transfer In: General Fund Net increase In fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 - 500 $ 287 - 287 $ 500 $ 11491 11000 o .. Soo (1,000) 2,500 151018 $ 142018 $ 14, 01 THIS PAGE INTENTIALLY LEFT BLANK Debt Service Funds Debt Service Funds are used by the City to account for the accumulation of resources and the payment of general obligation debt and other long -term debt. CITY OF STILLWATER, MINNESOTA A DEBT SERVICE UNDS S A I S, FUNDING SOURCES FOR 2011 EXPENDITURES Other 3% Property Taxes —�m - 72% Special Assessments ti 2% Tax Incrementy Financing 18% St Crain" alley Recreation Center 5% 2011 EXPENDITURES BY TYPE Principal 79% Interest 21% Other % 78 CITE OF STILLWATER, MINNESOTA DEBT SERVICE FUNDS r 2070 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Property Takes Special Assessments Market Value Homestead Credit Interest Miscellaneous Revenue Total EXPENDITURES: Debt Service: Principal Interest Paying Agent Fees Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Bond Proceeds Premium Issued on Debt Payment on Current Refunding Transfer In St Croix Valley Recreation Center TIF Districts (Tax Increment Financing) Other Transfer Out Other Financing Sources (Uses) Total Net increase in fund balance Fund Balance -- Jars 1 Fund Balance - Dec 31 311283945 3,243,619 $ 3121501 (281424) 1831948 1081000 85,000 (23,000) 11 119 - - - 79,288 - - r- rl^^ A A ^^-7 A A 1%4% mg 31385$000 $ 2t8341247 3,8091730 775,483 1,286,753 947,741 943$666 (4,075) 61361 ■ r r �- J 71003 01000 11003 (11343,489) (425,445) (112479274) (821,829) $ 6,52U00 r 162,746 - - 1,080,000 -- r - 4571518 274,239 2137761 (69,488) 0171174 7549006 784,078 307072 3791043 195,000 140,000 (55,000) (1683394) -- w - $ 79218,087 1,223,245 1,137,829 .. $ 51874,598 797,800 $ (10%445) (907,245) 9 CITY OF STILLWATER, MINNESOTA G4 CAPiTAL UurLA.y BONDS Fund Type: Debt Ser«ce Fund Fund Numbers: 300 - 329 _Funds Description: These funds record the receipt of property taxes generated by the debt service levy and the payrnent of principal, interest and paying agent fees for outstanding General Obligation Capital Outlay Bonds GO CO Bonds issued by the City. Purpose of Debt: Proceeds from GO CO Bonds are used to finance the purchase /construction of capital outlay /major capital construction projects where property takes are the ,Hain funding source. Funding: Primarily financed with property takes through an annual debt service levy. 2011 Budget Impacts: Fund Number Bond lssue Purpose Balance as of 12/31/10 Principal Due in 2011 Interest Due in 2011 Levy Amount for Payable 2011 Existing Debt: 304 $755,000 GO CO Bonds, Series 200B 2004 CO $200,003 $100 7000 $4,600 $1 08,308 305 $1,480,000 GO CO Bands, Series 2005A 2005 CO $610,000 $195,000 $16,000 $228,979 307 $1,290,000 GO CO Bonds, Series 2007A 2007 CO $830,000 $155,000 $29.063 $195,464 308 $1,445,000 GO CO Bonds, Series 200 2008 CO $11125,000 $170,000 $32,213 $214,896 309 $1,455,000 GO CO Bonds, Series 2009A 2009 CO $1,300,000 $165,000 $36, 113 $219,503 315 $3,160,000 GO CO Bonds, Series 2005B Refunding $2,360,000 $175,000 $81,091 $276,686 316 $6,400,000 GO CO Bonds, Series 2006A 2006 CO/Library $4,980,000 $3601000 $134,263 $574,893 319 $1 ,005,000 GO CO Bonds, Series 2009B Refunding $900,000 $110,000 $231425 $133,653 320 $173451000 GO CO Bonds, Series 2003A 2003 CO $185,000 $185,000 $3,006 0 329 1$4,095,000 GO CO Bonds, Series 2009D Refunding $4,095,000 $605,000 $113,763 $755,672 New Debt: 311 J$927,000 GO CO Capital Outlay Armory Land I 1 $85,000 Totals $2 #220,000 [_$523,5-4-2- $2,798,054 Refunding Bonds: 315 During 2005, the City issued advanced refunding $3,160,000 General Obligation Capital Outlay Refunding Bends, Series 2006E to refinance existing debt issued in 1996, $5,530,000 General Obligation Capital Outlay Bonds, Series 1996A, to save on interest costs. The Series 1996A Bends were issued to finance the remodeling of City Hall. 319 During 2009, the City issued current refunding $1,005,000 General Obligation Capital Outlay Refunding Bonds, Series 2009B to ref innance existing debt issued in 1998, $2,500,000 General Obligation Capital Outlay Bonds Series 1998B, to save on interest costs. The Series 1998E bonds were issued to financee Capital Outlay purchases for 1998 and 1999. 329 During 2009, the City issued crossover refunding $4,095,000 General Obligation Capital Outlay Refunding Bonds, Series 2009D to refinnance existing debt issued in 2002# $7,840,090 General Obligation Capital Outlay Bonds Series 20o2A to save on interest costs The Series 2002A Bonds were issued r f to finance the construction of the City's public Works Facility. Notes: - General obligation Bonds are backed with the full faith and credit, and taxing power of the City. - Fund balance is reserved for debt service payments, both current and future. M CITY OF STILLWATER, MINNESOTA GO CAPITAL Ou?rLAY BONDS Fund Type: Debt Service Fund Fund Numbers: 300 - 329 2010 2011 SUMMARY OF REVENUES 209 ADOPTED ADOPTED $Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Property Taxes: Current Delinquent Market et Value Homestead Credit Interest Donations Revenue Total EXPENDITURES: Debt Service: Principal Interest Paying Agent Fees Bond Issuance Fees Professional Services Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Woad Proceeds Premium Issued on Debt Payment on Current Refunding Transfer In Transfer Out Other Financing Sources Uses Total Net increase in fund balance Fund Balance -- .Jan 1 Fund Balance - Dec 31 $ 21783x108 $ 2x7751592 25798,054 $ 221462 58,41 - - -- 1 04,577 - - 46,369 - - 0- ^ ^^ 1,920, 000 115702000 2,22%000 $ 650,000 7093108 533,747 5237642 (1 09205) 41671 41670 3,850 (820) 98,315 - 6,465 T ff, L . J 511001000 $ - - 1 25, 539 - (11050,000) - - .. 1841043 - # .t 0% .% /l . . $ 41447,081 $ 667,175 $ 60,662 $ (616, 513 81 CITY OF STILLWATER, MINNESOTA GO IMPROVEMENT BANDS Fund Type: Debt Service Fund Fund Numbers: 330 - 359 Funds Decal tots: These funds record the receipt of special assessment payments, property takes and the payment of principal, interest and paying agent fees for outstanding General obligation Improvement Bonds Imp Bonds) issued by the City. Purpose of Debt:. Proceeds from Go Improvement Bonds are used to finance capital improvement projects i e. street improvement projects, sidewalk projects, etc.) where special assessments and property tees are the primary funding sources. Funding: Primarily financed with speical assessments and property takes through an annual debt service levy when necessary. 2011 Budget Impacts: Balance Principal Interest Levy Amount Fund as of Due in Due in for Payable Number Sond Issue 12/31/10 1 2011 1 2011 2011 Existing Debt: 340 _1$4,695,000 Go Improvement Bonds, Series 2004A $2,750,000 $375,000 1 $38,563 $295,832 Totals $375,000]F$88,5631 $2913 Notes: - General Obligation Bonds are backed with the full faith, and credit, and taxing power of the City. - Fund balance is reserved for debt service payments, both current and future. 2 CITY OF STILL IfATE , MINNESOTA �• GO IMPROVEMENT BONDS Fund Type: debt Service Fund Puna Numbers: 330 - 359 2010 20'11 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Property Taxes: Current 2797529 $ 300,920 295,832 $ (51088) Delinquent 61552 - - Special Assessments 153,948 1081000 85,000 (23,000) Market et l alue Homestead Credit 101518 - - Interest 131788 - Revenue Total $ 4641415 4081920 $ 380,032 281088 EXPENDITURES: Debt Service: Principal 365,000 $ 3701000 375,000 5,000 Interest 108,370 98,995 881563 1 03432) Paying Agent Fees 431 650 435 (215) Professional Services 3,384 - - Other 112 - - Expenditure Total $ 477,297 $ 4599545 4639998 51647 Revenues over expenditures $ 12,882) $ (50,725) $ (835166) $ (22,441 Net increase in fund balance (12,882) $ (60,725) (83,166) $ (22,441) Fund Balance - Jan 1 950,825 937,943 877,218 (60,725) Fund Balance w Dec 31 $ 937:943 $ 877,218 794,052 $ (83,156) 3 CITY OF STILLWATER, MINNESOTA GO TIF BONDS and Ty-pe.- Debt Sendee Fund Fund Numbers. 36o-379 Funds Description: These funds record the receipt of tax increment and the payment of principal, interest and paying agent fees for outstanding General Obligation Tax Increment Financing Bonds (GO TIF Bonds) -issued by the City. Purpose of Debt: Proceeds from GO TIF Bonds are used to finance TIF eligible capital improvement projects where TIF is the main funding source. Fu Primarily financed with tax increment transferred in from the obligating TIF District 2011 Budget Impacts: Fund Number I Bond TIF District I Obligation Balance as of I 12/31110 Principal Due in 2011 I I Interest Due in 2011 I Existing Debt: 370 1$5,300,000 GO TIF Bonds, Series 2008B T1F #10 1 $5.015,000 $105,000 $205,848 374 J$31435,000 GO TIF Bonds, Series 2003E TIF #4 $1,145,000 $365,000 $323370 Tota I s $470,000][- $2383218, Refunding Bonds: 374 During 2003, . the City issued current refunding $3,435,000 General Obligation Tax Increment Financing Refunding Bonds, Series 2003B to refinnance existing debt issued in 1994, $4,800,000 General Obligation Tax Increment Financing Bonds Series 19940, to save on interest costs. The Series 19940 Bonds were issued to finance the construction of Frontage Road West and Curve Crest Blvd and install instreet lights at that intersection. Notes: General Obligation Bonds are backed with the full faith and credit, and taxing power of the City. Fund balance is reserved for debt service payments, both current and future. 84 CITY OF STILLWATER, MINNESOTA GO TIF BONDS Fund Type- Debt SeMce Fund H. Fund Numbers' 360-379 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) EXPENDITURES: Debt Service* Principal Interest Paying Agent Fees Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Transfer In Other Financing Sources (Uses) Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 $ 555,000 $ 425,000 $ 470,000 $ 451000 286,274 252,726 238,218 (14,508) 856 1)280 860 (420) $ (842,134) $ (679,006) $ 709, 78 $ (30,072) $ 8421174 $ 679,006 $ 709,078 $ 30,072 $ 8421174 $ 6791006 $ 709,078 $ 30,072 $ 40 $ - $ $ - 85 CITY OF STILLWATER, MINNESOTA GO RxVIENUE BONDS Furid Type: Debt Service Fund Fund Numbers. 38o -,-389_ Funds Description '- These funds record the revenues received and the payment of principal, interest and paying agent fees for outstanding General Obligation Revenue Bonds (GO Revenue Bonds) issued by the City. Purpose of Debt: Proceeds from G<] Revenue Bonds are used ho finance capital projects where the debt isprimarily financed through revenues generated by the project. Fu�d]�Qi $1,420, 000 GO Revenue Bonds. Series 2009C Funding is provided by donations and net revenues (revenues less expenditures) from 8t Croix Valley Recreation Center operations and property taxes (when noadod $2,695, 000 GO Revenue Bonds, Series 2005C This bond issue is a refundl ng bond of the $4,610, 000 G 0 Revenue Bonds, Series I 998A. Fundingia provided by donotionaondnetrovanuea(revonuea|eomoxpend1tureo)fromthe8t'C»o|xVoUeyRecreationOantoropensiionu, tax increment from TIF District #4 and property taxes (when needed). 2O11 Budget Impacts: Totals J1 $395,000.11 $91, 1 $121,3091 Refunding Bonds: 385 During 2OU5` the City issued advanced refunding $2,805.QOO General Obligation Revenue Refunding Bonds, Series 2005C to refinnance existing debt issued i n 1998, $4,610, 000 General Obl igation Reven ue Bonds Series 1898A.tosave on interest costs. The Series 1998A Bonds were issued to finance the construction of the City's ED Croix Valley Recreation Center. 388 During 2009, the City issued crossover refunding $1,420,000 General Obligation Revenue Refunding Bonds, Series 2009C to refinnance existing debt issued in 2000, $2,135,000 General Obligation Revenue Bonds Series 2QOOD.to save on interest costs, The Series 2OOOD Bonds were issued to finance the construction of a second sheet of ice ot the City's 8t Croix Valley Recreation Center. Other Debt.* The following bond issue was issued by the City for Board of Water Commissioners. For that reason, accounting ofthe bond issue is found in the financial statement of the Board of Water Commissioners. Presentation of this bond issue appears here only for informational purposes. Balance Balance Principal Interest rest Levy Amount Fund Due in for Payable as of Due in Due in for Payable Number Bondissue 12/31/10 2011 2011 2011 Existing Debt: 385 1$2,6951000 GO Revenue Bonds, Series 2005C $1,935,000 $270,000 $511833 $121,309 389 ' 1$1,420,000 GO Revenue Bonds, Series 2009C $1,420,000 $125,000 $391313 Cancellea Totals J1 $395,000.11 $91, 1 $121,3091 Refunding Bonds: 385 During 2OU5` the City issued advanced refunding $2,805.QOO General Obligation Revenue Refunding Bonds, Series 2005C to refinnance existing debt issued i n 1998, $4,610, 000 General Obl igation Reven ue Bonds Series 1898A.tosave on interest costs. The Series 1998A Bonds were issued to finance the construction of the City's ED Croix Valley Recreation Center. 388 During 2009, the City issued crossover refunding $1,420,000 General Obligation Revenue Refunding Bonds, Series 2009C to refinnance existing debt issued in 2000, $2,135,000 General Obligation Revenue Bonds Series 2QOOD.to save on interest costs, The Series 2OOOD Bonds were issued to finance the construction of a second sheet of ice ot the City's 8t Croix Valley Recreation Center. Other Debt.* The following bond issue was issued by the City for Board of Water Commissioners. For that reason, accounting ofthe bond issue is found in the financial statement of the Board of Water Commissioners. Presentation of this bond issue appears here only for informational purposes. Fu���I� $1,330,000 GO Rev Bonds, Series 2000B This bond issue was issued by the City for the Board of Water Commission (City's Component Unit). Funding is provided by the Board of Water Commission through water user fees. Notes: ~ General Obligation Bonds are backed with the full faith and credit, and taxing power ofthe City. Fund balance im reserved for debt service payments, bot current and future. MEP Balance Principal Interest Levy Amount n�d as of Due in Due in for Payable ;Fu um [Number Bondissue 12/31/10 2011 2011 2011 80 3 C $1,330,000 GO Rev Bonds, Series 2000B $430,0001 $90,000 $20,9581 NIA Fu���I� $1,330,000 GO Rev Bonds, Series 2000B This bond issue was issued by the City for the Board of Water Commission (City's Component Unit). Funding is provided by the Board of Water Commission through water user fees. Notes: ~ General Obligation Bonds are backed with the full faith and credit, and taxing power ofthe City. Fund balance im reserved for debt service payments, bot current and future. MEP CITY OF STILLWATE , MINNESOTA BEA& GO RiEVIENUE BONDS • Type: Debt Service Fund 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Property Takes: Current Delinquent Interest Revenue Total EXPENDITURES: Debt Service: Principal Interest Paying Agent Pees Bond Issuance Fees Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES USES): Bond Proceeds Premium Issued on Debt Transfer In: St Groin Valley Recreation Center TI District #4 Other Financing Sources Use Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 - 1673107 121 X309 $ 45 :798) 1 ,244 - - - 20,395 $ 167,107 $ 121,309 (45,798) 3501000 $ 2651000 395,000 $ 1301000 183,001 591593 91 X146 31,553 403 403 855 452 3511O1 - w - (549,866) (157, 889) (306,692) (207, 803) 174201000 $ $ $ 37 #207 - r 457,518 274,239 213,761 (89,488) 11439,859 $ 191,350 $ (76,941) (268, 91 CITY OF STILLWATER, MINNESOTA OTHER LONG -TERM DEBT Fund Type-, Debt Service Fund ' Fund Numbers: 390 - 399 Funds Description: These funds record the revenues received and the payment of principal and interest for other outstanding long -term debt issued by the city. Purpose of Debt: 100,000 State Stream Protection and Improvement Loan Proceeds from the $1, 900, 000 State Stream Protection and Improvement Loan were used for the construction of the McKusick Lake Diversion Project. Major components of the project consisted of: 1 Enlarge the outlet channel and conveyance system from Long Lake to Brown's creek; 2 Construct a diversion structure and pipe; Upgrade the dire on McKusick Lake and construct an overflow structure; Restore and realign a portion of Brown's creek} and Upgrade the conveyance system for McKusick Lake to the St Croix Diver. 000 Stale Stream Protection and Improvement Loan Proceeds from the $850# 000 State Stream Protection and Improvement Loan were used for the construction of the McKusick Labe Diversion Project. Maj CITY OF STILLWATER, MINNESOTA OTHER LONG -TERM DEBT Fund Type: Debt Service Fund Fund Numbers: 390 - 399 SUMMARY OF REVENUES AND EXPENDITURES DITURE REVENUES: Refunds & Reimbursements Revenue Total EXPENDITURES: Debt Service: Principal Interest Expenditure Total Revenues over expenditures OTHER FINANCING CIN SOURCES (USES): Transfer In Offer Financing Source Uses Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2010 2011 2009 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 500 1119 $ 112,927 - 195,900 204,247 149.730 (54,517) 1951000 1951000 140,000 $ (55,009) 500 500 500 Soo THIS PAGE INTENTIALLY LEFT BLANK Capital Project Funds Capital Project t Funds are used by the City to account for the constructions /acquisition of capital projects /assets with the City's Tax Increment Financing Districts, CITY OF STILLWATER, MINNESOTA TA { CAPITAL PROJECT FUNDS 2010 20'11 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL- BUDGET BUDGET (Decrease) REVENUES: Tax Increment 310461960 21800,000 $ 2,880000 301000 Special Assessments 161029 - - - [arket Value Homestead Credit 20F034 - A Interest 1 36,660 - Revenue Total $ 3,2191703 $ 27300,000 $ 21080,000 $ 30,00 EXPENDITURES: Contractual 398$33 333,000 $ 790,000 $ (43,000) Pedestrain Plaza - - 946,000 - Parking Ramp 57603,766 - - Leal 67933 - - - Other 171137 - Expenditure Total $ 630261174 $ 633r000 $ 11736,000 - Revenues over expenditures $ (21806,471) $ 11967,600 $ 1114 ,000 $ 301000 OTHER FINANCING SOURCES (USES): Transfer Out (9173174) (7541006) (704,076) (30x070) Other Financing Sources (Uses) Total (917,174) $ (754,006) $ (704,076) .. Net increase in fund balance $ (31723,646) $ 11212,994 $ 360,924 (352,070) Fund Balance - Jan 1 9F974,259 61260,614 71463:608 172127994 Fund Balance - Dec 31 $ 61250,614 $ 71463,600 71824,532 360,924 9 CITY OF STILLWATEF , MINNESOTA TIF DISTRICT #1 Fund Type: Capital Projects Fund Fund Number: 461 Fund Description: The City is the ad mi i n i ste ri n g authority for De District #1, Tax Increment District #1, Downtown and Industrial Park Scattered Sites TIF District #1). The district is a redevelopment district established in 1985 and has a 25-year duration upon the receipt of the first tax increment. 1986 was the date of the first tax increment receipt and De ernber 31, 2011 is the required date of decertification. Proiects Pa -a - you - bli ations within this district are as follows: Development Property '1st Scheduled Payment Date Duration of Payments Available Tax. Increment* Not to Exceed a Payment of Maximum Total Obligation Payments to Date 12131 /10 Expected 2011 Payment BS Company 1 998 Life of District 0% N/A $71 ,963 $53,734 $4,000 Blichfield Development 1997 Life of District 100% N/A $133,409 $133,409 Desch - Phase 1 1992 2007 100% $20,000 $562113 $442 .1329 $0 Lumber Baron Hotel 2003 Life of District 0% Ni $335,000 $83,331 $9,000 Malnstrearn 2001 2011 100% $37,500 $787,800 $413,326 $35,000 F eadex 1997 2010 100% $3,600 $172,000 $143,133 $5,000 Schoonover 1991 2003 100% 11,91 $1433000 $72,505 0 Simonet 1997 2003 ILIA► $15,760 $189,0001 $189,000 $0 DBC 1937 J 2010 100% 1 $27,138 $5605000 $194,2681 0 Obligations that have been fulfilled as of December 31, 20010. *Available Tax Increment is defined as a percentage as defined in the development agreement) of the tax increment derived from the development property. On December 7, 2010, the City Council approved (resolution 2010 -193 ) the contract between Sanders Wacker Pergly and the City of Stillwater for design services related to the North Lowell Park /Pedestrian Plaza master plan and Pedestrian Plaza construction plans. The majority of the expenses related to the Pedestrian Plaza are TIF eligible expenses and will be paid out of this district. 9 CITY F STILL''Il' ATER, MINNESOTA =• t A -` TIF DISTRICT Fund Type: Capital Projects Fund Fund Number: 461 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 8751609 $ 7501000 $ 740,000 $ (10,000) Market value Homestead Credit 21839 - - ` Interest 48,381 - - Ievenue Total $ 926,829 750,000 7402000 1 0#000) EXPENDITURES: Contractual: Lumber Barons Hotel 2,818 59500 $ 91000 $ 3) 500 eadax 41959 97000 5,000 (41000) Mainstream/Maple Island 21 5487 351000 36,000 - UBC /L.anoa 61971 - - ABB Company - - 41000 41000 Contractual Total $ 361232 $ 491500 63,000 $ 3,500 Pede train Plaza $ - $ - 9467000 $ 945,000 Other 2,951 - - - Expenditure Total 23951 $ - $ 946,000 $ 945,000 Revenues over expenditures 923,878 $ 7507000 $ (205,0400) $ (955,000) Net increase in fund balance $ 923}878 750,000 $ (2059000) (955,000) Fund Balance _ Jan 1 21021,282 31845,160 4,296,160 750,000 Fund Balance - Dec 31 $ 31845,130 $ 42295,100 $ 4,0901160 $ (205,000) 9 CITY OF STILLWATER, MINNESOTA : TI . DISTRICT Fund Type: Capital Projects Fund • Fund Number: 464 Fund Description: The City is the adrninisterinc authorit r for Development District I#1, Tax Increment District #-4, Wood Iand Lake Prole t TIF District #4). The district is redevelopment district established in 19 86 and leas a 2 -year duration upon the receipt of the first tax increment. 1 987 was the date of the first tax increment receipt and December 31, 2012 is the required data of decertification. Deist obligation: $3.435, 000 General Obligation Tax Increm ent Refunding Bonds., Series 2003B (original issue: $4$30+0,000 General Obligation Tax Increment Bonds, Series 19940. This debt obligation was issued to: 1 Construct Frontage Road West from Curve Crest Boulevard to Northwestern Avenue; 2 Extend Curve Crest Boulevard from Washington Avenue to County road ; and Install stop lights at the intersection of Frontage Road West and Curve Crest Boulevard.. Total amount outstanding as of December 31, 2010- $1,145,000 (see page 84 for more information on the debt service obligation). 2011 Bud-get Impacts: - Transfer Out represents funds being transferred out to debt service funds for the payment of current year debt service obligations. These obligations are as follows. 1 $397803 to $3,435,000 General Obligation Tax Increment Refunding Bond, Series 2003B debt service fund ; and 2 $75, 0 0 0 to $2,695, 000 General Obligation Sports Center Refunding Bonds, Series 20050 debt service fund. ProiectslPay-a ! 'ou- blx- rations within this district are as follows: TARGET/SUPERVALU MARKET PLACE This project was a redevelopment of the site into a marketplace with a grocery store and retail shops. No tax increment obligation is due to the developer. Notes: - The , 00 o transfer out to the $3,435,000 General Obligation Tarr Increment Refunding Bond, Series 2003E debt service fund was approved by the City Council starting in 1998 through the life of the district. 9 , CITY OF STILL DATER, MINNESOTA 7 IF DISTRICT *4 =• -` Fund Type: Capital Projects Fund Fund Number: 464 2010 2011 SUMMARY OF REVENUES VENUES 2009 ADOPTED ADOPTED Increase AND EXPENDITURES E ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 7481103 $ 700,000 7001000 - Interest 317566 Revenue Total 779,6609 7001000 $ 7003000 $ - EXPENDITURES: Legal $ 875 - $ _ $ Other 051 - Expenditure Total $ 1,526 $ - - $ - Revenues over expenditures $ 7781143 700,000 700 ,1000 $ - OTHER FINANCING SOURCES (USES): Transfer Out $ 474,079) $ (468,978) (472,803) (31825) Other Financing Sources (Uses) Total (474,079) (468,978) (472,803) $ - Net increase in fund balance $ 3043064 $ 2311022 $ 227,19 $ (3,825) Fund Balance -plan 1 1 2872,842 2 #176,606 22407,628 2319022 Fund Balance -- Dec 31 $ 29 176,606 29407,628 2,6341025 $ 2272197 7 CITY OF STILLWATER, MINNESOTA TIF DISTRICT #6 Fund Type: Capital Projects Fund Fund Number: 466 Fund Description: The City is the admin1stering authority for De velopment District # 1, Tax Increment District #6, Jr: High TIF District #6). The district is a redevelopment district established in 1 993 and has a 25-year duration upon the receipt of the tax increment. 1 995 was the date of the first tae increment receipt and December 31, 2019 is the required date of decertification. Debt Obl gatiow $1,000,000 General Obligation Tarr increment Refunding undingr ,Bond , 1993A. This debt obligation was issued to pay for the construction of the public parking Iet. This paring lot is permit parking Iot with revenues going to the Parking Fund. As of December 31, 2010 this debt obligation has been paid in full. 2011 Bud-get Imp acts; - A lighting project in the spring is planned for the parking lot. Pt'oj is Pa}/-a - ou- obligations within this distdict are as follows: BJrigl This project was a redevelopment of the old Stillwater Junior High site into corporate headquarters for CUB Foods and a public parking lot. No tai increment obligation is due to the developer. CITY OF STILLWATEF , MINNESOTA TIF DISTRICT *6 `' Fund Type: Capital Projects Fund Fund Number: 466 2010 2011 SUMMARY OF REVENUES 2009 ADOPTED ADOPTED $Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment Interest Revenue Total EXPENDITURES: Lighting Project Expenditure Total Revenues over expenditures Net increase in fund balance Fund Balance - Jan 1 Fund Balance •- Dec 31 .b M11611 WK114111 $ 4923497 4922497 507,497 11,0 CITY of STILL HATER, MINNESOTA TIF DISTRICT L .4. Fund tae: Capital Projects Fund Fund Number: 468 . Fund Description: The City is the administering authority for De velo,pment District 2, Tax Increment District #8, A nchobay ro, Inc T]F District #8). The district is a housing district established in 2000 and has a - -gear duration upon the receipt of the first tax increment. 2002 was the date of the first tax increment receipt and December 31, 2027 is the required date of decertification. 2011 Budget Impacts: There are no planned expenditures for 2011 Proiects /Pay -a s :you- o obligations within this district are as follows: i LONG LAKE VILLAS Long Lace Villas is a row to moderate income multifamily housing project. The City entered into any agreement with Long Lake Limited Partnership to aid in financing a portion of tai increment eligible costs of the project. The agreement is not a general obligation of the City . Payments are made on the first day of each August and February commencing on August 1, 2002 and ending on February 1, 2026 are made solely from Available Tax Increment. Available Tax Increment is defined as 0% of the tax increment derived from the development property (Long Lake 'Villas. 100 I t Not to I I Scheduled Available Exceed a Maximum Payments Expected Development Payment Duration Tax Payment Total to Date 211 Property Date of Payments Increment of Dbli action '12/31/10 Payment Long Lake Villas 2002 Life of District Oro N/A I ,000 $634,0001 0 100 CITY of STILLWATER, MINNESOTA 11 TIF DISTRICT ' Fund ape: Capital Projects Fund Fund Number: 4,68 2010 2011 SUMMARY of REVENUES 2009 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tait Increment $ 903292 861000 85,000 $ , Market Value Homestead Credit 5,209 - Interest 926 Revenue Total $ 960426 857000 $ 857080 - EXPENDITURES: Contractual: Long lake Villas $ 391937 762600 $ (76,500) Contractual Total 391937 $ 767500 $ - $ (76,500) Legal 750 $ - $ - - Other 968 - Expenditure Total $ 41,655---$ 76,500 $ $ (76,500) Revenues over expenditures $ 84t771 81800 86,008 761800 Net increase in fund balance $ 54,771 $ 8,500 $ 85,000 $ 761500 Fund Balance - Jan 1 461774 101 ,545 1101,048 81600 Fund Balance - Dec 81 $ 1013545 $ 110,045 $ 195$045 $ 851000 11 CITY F STILLII ATE , MINNESOTA TIF DISTRICT #9 Fund Type: Capital Projects fund Fund Number: 469 , `,;, BE '• 83 Fund Description: The City Is the administering authority for Development District #1, Tax Increment District #9, Curve Crest Villa TIF District #. The district is a housing district established in 2002 and has a --year duration upon the receipt of the first tax increment. 2004 was the date of the first increment receipt and December 31, 2029 is the required date of decertification. Promects/Pay-as-you-go Obligations within this district are as follows. CURVE CREST VILLAS Curve Crest Villas is a logo to moderate income multifamily rental project. Two notes were issued in the relation to this project to reimburse the developer for tax increment eligible costs. These notes are as follows: Totals If $20,00 $66,084 Payments on these notes are payable solely from 1/2 of Available Tax Increment. The City has no obligation to pay principal and interest on these Notes from any other sources than Available Tax Increment. If at any time there is not sufficient available increment to make the principal and interest payments, the remaining funds needed to make the principal and /or interest payments is made by the guarantor in this case the developer). Available Tax Increment is defined as 0% of the tax increment derived from the development property (Curare Crest Villas) and received by the City in the sic months preceding the payment date. 1 Balance Principal Interest Note Issue Date of as of Due in Due in Note Issue Number Amount Issuance 12/31/10 2011 2011 $445,000 TIF Revenue Note l -1 $445,000 06114/02 $3971500 $10,000 $33,042 X445, 000 TIF Revenue Mote R-2 $4451000 00114/02 $397,500, $33,0421 Totals If $20,00 $66,084 Payments on these notes are payable solely from 1/2 of Available Tax Increment. The City has no obligation to pay principal and interest on these Notes from any other sources than Available Tax Increment. If at any time there is not sufficient available increment to make the principal and interest payments, the remaining funds needed to make the principal and /or interest payments is made by the guarantor in this case the developer). Available Tax Increment is defined as 0% of the tax increment derived from the development property (Curare Crest Villas) and received by the City in the sic months preceding the payment date. 1 CITY F SAILLW TEF , MINNESOTA 103 IF DISTRICT ;. t Fund Type: Capital Projects Fund Fund Number: 469 2910 2011 SUMMARY of REVENUES 2999 ADOPTED ADOPTED Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) wREVENUES: Tax Increment $ 693774 689000 $ 65,1000 Interest 147 - - - Revenue Total 69,92' 653000 $ 651000 $ - EXPENDITURES: Contractual: Curve Crest Villas 1 t 98 $ 58,500 $ 58,500 - Contractual Total 312398 58,599 $ 68,500 $ - Legal 'f' 828 - r Other 231 Expenditure Total $ 32,254 581500 $ 58,500 - Revenues over expenditures 371667 6,509 6,500 $ Net increase in fund balance $ 371667 63500 60500 $ - F'und Balance - Jan 1 21471 407188 461638 61500 Fund Balance - Dec 31 401138 46,838 3313 61500 103 CITE' of STILL 11 TE , MINNESOTA TIF DISTIRJCT *10 Fend Type: Capital Pro 0 ects Fund Fund Number: BEA Fund Description: The City is the administering authority for Development District , Tax Increment ent District #10, Scattered Site Housings Projects (TIF District #10). The district is a redevelopment district established in 2604 and has a 25-year duration upon the receipt of the first increment. 2006 is the date of the first increment receipt and December 31, 2030 is the required data of decertification. Debt Obligation: $5,300,000 General Obligation Tax Increment Bonds, Series 2008S. This debt obligation was issued to contruct a municipal parking ramp. Net revenues from this distict are its funding source. Total amount out tanin g as of December 31, 261 o: $5,015,000 (see page 84 for more information on the debt service obligation). Protect /Pay -as- ou- oM Obligations within -this district are follows: LOFTS OF STILLW TER Lofts of Stilluwrater is a residential and commercial development project consisting of 1 building. Balance Principal interest Issue Date of as of Due in Due in Bond Issue Amount Issuance 12/31/10 1$21390,0001 1 2011 2011 1$2,390,000 TIF Revenue Bonds 0 120106 $212351000 $85,0001 $1189533 Payments on these bonds are payable solely from Available Tax Increment. The City has no obligation to pay principal and interest on these bonds from any other sources than /available Tarn Increment. If the available tax increment is not sufficient to pay the dote payments in full, the guarantor of the Dotes pay the remaining amount. All available increment is forwarded to a trust account. Funds in the trust are used to make the principal and interest payments on the bonds. Available Tax Increment is defined as 95% of the tax increment derived from the development property (Lofts of Stillwater) and received by the City in the six months preceding the payment date. TERRA SPRINGS Terra Springs is a residential and commercial development project consisting of 5 buildings. Two 2 Tax increment Revenue [dotes were issued in relation to this project to reimburse the developer for tax increment eligible costs. These notes and the buildings they relate to are as follows: 11 Totals J1 $126,00011 $37712sall Payments on these notes are payable solely from of Available Tax Increment. The City has no obligation to pay principal and interest on these Notes from any other sources than Available Tax Increment. If the available tax increment is not sufficient to pay the Note payments in full, the guarantor of the Notes pay the remaining amount. Available Tax Increment is defined as 95% of the tax increment derived from the development property (building number of the Term Springs development) and received by the City in the six months preceding the payment date. 104 Balance Principal Interest Building Issue Date of as of Due in Due in Note Issue Number Amount Issuance 12/31/10 2011 2011 $32255,000 TiF Revenue Note 1,2,4 $3,255,000 12110/03 $3 #026,000 $671000 $1753468 $21925,000 TIF Revenue .Dote 16 2 #923,000 09/15%64 $2,861,000 $50,000 $2013822 11 Totals J1 $126,00011 $37712sall Payments on these notes are payable solely from of Available Tax Increment. The City has no obligation to pay principal and interest on these Notes from any other sources than Available Tax Increment. If the available tax increment is not sufficient to pay the Note payments in full, the guarantor of the Notes pay the remaining amount. Available Tax Increment is defined as 95% of the tax increment derived from the development property (building number of the Term Springs development) and received by the City in the six months preceding the payment date. 104 CITY OF STILLWATER, MINNESOTA 105 TI DISTRICT #10 Fund Type. Capital Projects Fund Fund Number' 470 2010 211 SUMMARY P REVENUES 2000 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 111707636 112 0t00O 11200,000 $ Special Assessments 16,029 - - - Market Value Homestead Credit 111936 Interest 481657 Revenue Total 1,2471308 112001000 11200,000 - EXPENDITURES. Contractual. Lofts of Stillwater $ 60,661 $ 2401000 250,000 10,000 Term Springs 227973 4051000 3080 (557000) Lumber wrens 2,132 31500 31500 - Contractual Total $ 2901766 $ 648,500 603,500 (46,080} Parking Ramp $ 6,603,766 $ - _ $ Legal 41438 Other 12,336 Expenditure Total $ 5)911,306 $ 6481500 603,608 $ (45, 000) Revenues over expenditures $ (41663,998) $ 551,500 590.v 00 $ 451000 OTHER FINANCING SOURCES (USES). Transfer Out $ (443,095) $ (2852023) (3'1'1,273) $ (26,245) Other Financing Sources Use Total $ (443,096) $ (285,028) $ (311,273 ) $ - Net increase in fund balance $ (5$1071093) $ 266,472 $ 285,227 18,755 Fund Balance - plan 1 510371993 (89,100) 197,372 266,472 Fund Balance - Dec 31 $ 69,10 $ 197,372 $ 432,599 $ 286,227 105 THIS PAGE INTENTIALLY LEFT BLANK Enterprise Funds Enterprise Funds ar used by the City to account for the operations that are financed primarily by user fees. CITY OF STILL WATER, MINNESOTA BEA BEA en en RH 2011 REVENUES BY TYPE* Intprpr,t lnrnmp ft A ; e-.—^ I I -,% ei ^ r% j t e- 96% *Revenues include Operating and Non-Operating Revenues 2011 OPERATING EXPENSES BY TYPE Depreciation 10% Services and Charges 63% 108 Supplies 3% CITY OF STILLWATER, MINNESOTA IDES ENTERPRISE FUNDS 1P R Rf lC +F� ■ I • 2010 2011 SUMMARY OF REVENUES 2009 AMENDED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES $ 219177130 $ 23942,000 229822000 40t000 OPERATING EXPENSES: Personnel Services 802,806 7849478 $ 79'1,025 26,547 Supplies 57,309 752600 96,100 20,500 Service and Charges 2,029,222 21038,659 21rl922r32 153,004 Miscellaneous 50,870 421359 461r050 3,700 Depreciation 3221757 3091500 3213700 '12200 Operating Expenses Total 3,2629954 $ 3,230,587 3,4471.198 2109611 Operating Income (345,834) $ (288,587) $ (465,'198) $ (176,011 NON OPERATING ATIN REVENUES: Interest Income $ 541590 $ 851009 $ 52,000 (33,000) Miscellaneous 30:572 58,000 64,000 (41000) Nonoperating Revenues es Total $ 85,162 $ 1431000 $ 106,000 $ (37,000) Net Income (Loss) $ (260,672) $ (1453587) $ (359,198) $ (213,611) OTHER INCREASES Capital Contributions $ 1787000 $ - $ $ - Transfer Out (87,372) (90,000) (55,000) 35,000 Other Increases Total $ 90,628 $ (90,000) $ (56,000) $ 35,000 Net increase (decrease) in not assets 170,044 $ (235,587) (414j 98 ) $ 0178,611 Net Assets - Jan 1 91561,381 91391,337 9J 6517 0 (235, 587) Net Assets - Dec 31 91391 1337 $ 911557750 $ 8J411652 52 $ (414,198 ■ I • CITY OF STILL AT R, MINNESOTA SANITARYSEWER Fund T'Ype: Enterprise Fund Fund Number: 700 SEA Fund Descr Lion: The Sanitary Sewer Fund was established to account for the operation and maintenance of the City's sanitary sewer utility system. Funding Source: Expenses are c. l l supported by service fees charged to users. Rates: Minimum usa char e: $39.00 (Rate established by Ordinance Jo. t 02/0711989) vera a char e: $3.70 per 1,000 gallons (Rate established by Resolution No. 2006-153, 07/11/2006 2011 Staffing Level: Full -Time Benefitted 3.95 FTE Full Time Equivalents) Part-Time Non- Senefitted 2.0 Number of Positions 2011 Budget Impacts: ts: Personnel costs include 0% COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PERA . Beginning January 1, 2011 r the employers contribution to the plan will increase from 7. 0% to 7.25% for the Coordinated Plan. Metropolitan Council provides water treatment services for the wastewater collected by the City's sanitary sewer system. Notes: - A review of the rates is dame annually to assure the financial integrity of this fund. 110 CITY F STILL DATER, MINNESOTA •• • SANITARYSEWER Fund 'hypo: Enterprise Fund and Number: 700 2010 2011 SUMMARY F REVENUES 2000 ADOPTED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES: Charges for Services 1, 8741504 $ 13900,000 $ 11900,000 - OPERATING EXPENSES: Personnel Services: Salaries - Full Time $ 2401700 2272910 228,005 93 Overtime - Full -time 81196 9,120 91120 - Salarie - Part Time 61026 139950 13,950 Benefits 80,218 747330 83,381 91051 Personnel Service Total $ 341,209 $ 3231310 $ 334,456 9,146 Supplies: $ 247403 411100 $ 387800 $ (21500) Service and Charges: Consulting Engineer - 1,000 11000 $ Lift ,Station Repairs 211060 20,000 20,000 - Sewer Line Repairs 91773 25,090 25,000 - Metropolitan Council 11330, 37 11315,310 1,v41 O0 21 0 947900 Other 182,685 228,206 2179808 (10,400) Services and Charges Taal $ 11544,511 $ 115893510 $ 1, 674,016 841500 Miscellaneous: $ 5,834 $ 41400 $ 43400 $ - Depreciation: 2683224 $ 2721000 $ 268,v 0 $ (4,090) Operating Expenses Total $ 21 183,972 $ 212323326 $ 2,319,472 $ 87,140 Operating Loss $ (309,468) (3321326) $ (419,472) $ (87,140) NON OPERATING REVENUES (EXPENSES): Interest Income 417382 001000 $ 40,000 $ (20,000) Penalty 401920 40,000 402000 - Other (10,348) 18,000 14,000 (41000) Nonoperating Revenues Total $ 727254 $ 1187000 94,000 $ (24,000) Net Income (Loss) $ (237T214 ) $ (214,326) (326,472) $ (111,140) OTHER IN REASES: Capital Contributions $ 1387000 $ $ - Transfer (Out) (40,000) Other Increases Total 987000 $ _ $ _ $ _ Net increase (decrease) in net assets $ (139,214) $ (2147320) (326,472) (111,140) Net Assets -.Jan 1 81323,253 31849039 71969,713 (214,320) Net Assets - Dec 31 $ 8,1842039 $ 7,909,713 $ 71644,241 $ (3252472) 11l CITY OF STILL WATER, MINNESOTA STORM SEWER Fund Type: Enterprise Fund :. k Fund Number: o Fund Descrilior: The Storm Sewer Fund was established to account for the operation and maintenance of the City's storm water utility system. This fund was established pursuant to Ordinance #821 on March 21, 2006. Funding Source: Expenses are solely supported by service fees charged to users. Rates (Established by Resolution fro. 2007-248312/18/2007)-. in e:Family and Du pl e . $10.00 per dwelling Institutional: $60.00 per acre Mu lti-Family. . $10.00 per unit Commercial /industrial: $120.00 per acre Active Open Space: $10.00 per acre Central Business District: $160.00 per acre 2011 Staffing Level: Full Time 2.95 1 FTE (Full Time Euivaln 2011 Budget Impacts: - Personnel costs include % COLA on wages, a 1 9.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PEI A . Beginning January 1 , 2011 t the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. - Membership & Dares is dues to the Middle St Groin WMO and the East Metro Water Resource Consultant (providing the education portion of the IVIS4 permit), and $600 to League of Minnesota Cities -- Coalition of Metro - Transfer Out includes $55,000 for the Storm Sewer Fund's share of the current years street project (see C1P. Notes: - A review of the rates is done annually to assure the financial integrity of this fund. 112 CITY F STILL1I TE , MINNESOTA 113 STORM SEWER Fund Type: Enterprise Fund d Fund Number: 705 2810 2011 SUMMARY Y F REVENUES 2099 AMENDED ADOPTED Increase AND EXPENSES ACTUAL BUDGET BIDET (Decrease) OPERATING REVENUES: Charges for Services $ 491,514 4352000 $ 4001000 $ 51008 OPERATING EXPENSES: Personnel Services: Salaries ^ Full Time $ 2081632 $ 1 741726 $ 1781198 $ 3,472 Overtime - Full -Time 4 507 51359 51350 - Benefits 52,826 50,129 65,108 8,979 Personnel Services Total 2661055 $ 2339205 $ 248,858 $ 121451 Supplies. $ 63789 51409 16,400 $ 101000 Service and Charges. Consulting Engineer - $ 17875 $ 2,000 $ 125 Contractual 2T O28 51000 31450 (11550) Storm Sewer repairs 12,715 10,000 15,000 5,899 Pond Maintenance 45,885 451000 42,000 (31000) Other 114,941 62,205 67,010 5,795 Services and Charges Total 175,559 1241080 $ 130,360 $ 6,280 Miscellaneous: Memberships and Dues $ 34,329 $ 34,709 35,000 $ 300 Other 3,547 2,000 41000 21000 Miscellaneous Total $ 42,973 369700 39,000 21300 Depreciation: 16 602 $ 2,500 16 #800 $ 14,189 Operating Expenses Total $ 507,991 $ 4047835 480,016 $ 451131 Operating Income $ (16,477) $ 807115 $ 30 #984 $ 40,131) NON OPERATING REVENUES: Interest Income $ 41873 101000 $ 41000 i 90 Other - - - - C onoperating Revenues Total 4,873 $ 10,000 4,000 $ (61090) OTHER INCREASES (DECREASES). Capital Contributions $ 40,009 - $ $ - Tranfer Out (47,372) (09,009) (55,000) 35 1000 Other Increases Decreases Total $ (7, 372) $ (99:090) (55x000) $ 351000 Net increase (decrease) in net assets $ (18,976) $ 115 $ 11,0'I) $ {11,131 Net Assets -.Jan 1 3081823 3791547 379,662 115 Net Assets - Dec 31 $ 379,547 $ 3797332 368,040 $ 11 ,013} 113 CITY OF STILLWATER, MINNESOTA SIGNS SL LIGHTING Fund Type: Enterprise Fund Fund Number: 710 Fund Description :„ P!7.1�_A The Signs & Lighting Fund was established to account for the operation and maintenance of the City's sign and lighting infrastructure within the entire City. Other informartion: The sign and lighting utility fee was approved and enacted by the City Council, pursuant to Ordinance ##938, on June 17, 2003. The purpose of this ordinance was to "encourage the installation of street lighting (including signage throughout the City to promote the general health, safety and welfare of the citizens of the City " Benefits from this system for utility users do not just reside within the general neighborhood of the utility user, but also for the general use of the entire sign and lighting system within the City limits. Fundinq source: Expenses are solely supported by service fees charged to users. Rates (established by Resolution loo. 2003 -161, 07 #0112003): Single-Family and Duplexes- per dwelling Commercial: $96 per acre Muiti -Famil per unit Commercial with S, sue: per acre Institutional. $24 per acre Active Open ace; $2 per acre Interfund Obligation n August 5 , 2 00 3, F esoIution N umber 2003 -173, the City Council approved the funding of the Industrial Parer Lighting Project (Engineering Project ##2000 -13 ) by the Sign & Lighting Fund. There were insufficient funds, at that time, in the Sign & Lighting Fund to fund the $265,000 project. The Council authorized an interfund borrowing, pledging future cash to be used to repay the interfund borrowing. In 2004, when the project was complete, the Capital Project fund borrowed $105,470 to the Sign & Lighting Fund to cover the negative cash amount of the fund. As part of the feasibility report for the 2006 Street im provement Project (Forest Hills): Council authorized $40,000 of funding from the Signs & Lighting Fund to cover costs associated with installation of street lights in the project. The existing lights in the project area were estimated to be over 40 years old. Another interfund borrowing from the Capital The balance of the interfund borrowings is as follows: *Dearly payments are not calculated until the closing of the fiscal year. in other words, the annual payment for fiscal year 2010 will not be available until March of 2011. 2011 Staffing Level: Full Time 1.25 1 FTE (Full Time )Equivalents) 2011 Bud -get Impacts: - Personnel costs include 0% COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PEI A . Beg January 1 , 2011, the employers contribution to the plan wiII increase from 7.0% to 7.25% for the Coordinated Plan. Notes: - An annual review of the rates will be done to assure the financial integrity of this fund. 114 Original Amount Balance Projected L an 1 Paid* as of Amount to lnterfund Obligation Amount to bate 12/31109 be Paid in 2011 Due to Capital Pro ects Fund $165,470 $05,043 $70,427 $0 Due to Capital Projects Fund $40,000 so $401000 0 *Dearly payments are not calculated until the closing of the fiscal year. in other words, the annual payment for fiscal year 2010 will not be available until March of 2011. 2011 Staffing Level: Full Time 1.25 1 FTE (Full Time )Equivalents) 2011 Bud -get Impacts: - Personnel costs include 0% COLA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personnel costs include a State mandated contribution rate increase to PEI A . Beg January 1 , 2011, the employers contribution to the plan wiII increase from 7.0% to 7.25% for the Coordinated Plan. Notes: - An annual review of the rates will be done to assure the financial integrity of this fund. 114 CITY OF STILLWATER, MINNESOTA - SIGNS& IG TING + Fund Type: Enterprise Fund Fund Number; 710 SUMMARY OF REVENUES AND EXPENSES OPERATING REVENUES: Charges for Service OPERATING EXPENSES: Personnel Services: Salaries - Full Time Overtime - Pull -Time Benefits Personnel Services Total Supplies: Service and Charges: Contractual Electricity Other Services and Charges Total Miscellaneous: Depreciation: Operating Expenses Total Operating Income Net increase (decrease) in net assets Net Assets - Jan 1 Net Assets - Dec 31 115 2010 2011 2009 AMENDED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) 3721524 $ 3701000 $ 370,000 $ - $ 75,045 71,438 711,606 $ 108 1,030 2,050 2,000 00 231255 249158 271379 3,720 $ 100,330 971650 $ 101,484 $ 31828 12,095 $ 157700 $ 21,700 8,000 $ - $ 750 600 $ ( 150) 2301894 224,500 238,000 13,500 27,431 301137 30,041 0 $ 258,325 $ 255,387 $ 268,841 $ 13,254 $ 108 $ 250 $ 250 $ - $ $ - $ $ $ 3701858 $ 231082 363,993 $ 392075 $ 11666 $ 11007 {22,076} $ (23,082) $ 11666 $ 1,007 (22,075) $ (23,082) (191 1317) (993651 ) (98,844) 17007 $ 99,651 $ (983644) (120,710) $ 22 #075) 115 CITY OF STILLWATE , MINNESOTA PARKING Fund Type: Enterprise Fund Fund Number: 720 SEA j Fund Description; The Parking Fund was established to account for the operation and maintenance of the City's downtown parking program. The parking program consists of 15 parking lots which include free parking with hour limits, pair parking and permit parking. Funding Source:_ Expenses are solely supported by parking foes charged to users. Major revenues include pay parking fees, permit parking foes and parking enforcement fines. 2011 Staffing Level Full Time 1.10 FTE (Full Time Equivalents) Part Time 6.0 Number of Positions 2011 Bud-get Impacts: - Personnel costs include 0% CO LA on wages, a 19.26% increase in health insurance rates, and a 10% increase in dental insurance rates. - Personne/ costs include a Mate mandated contribution rate increase to P E RA . Beginning January 1, 2 011 , the ernplo rers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. Notes: At the recommendation of the Parking Commission, on December 17, 2002, the City Council instituted the City's management of the Downtown Pay Parking program for 2003. Prior to 2003, the City contracted out the management of this program. The Pair Parking Program, consists of Lots #1 (South Main St Lot) and Lot # River Lot). 116 CITY of STILLIATEF, MINNESOTA PARKI NG �• { W. Fund Type: Enterprise Fund Fund Number' 72-0 SUMMARY of REVENUES AND EXPENSE OPERATING REVENUES: Parking Permits Parking Meters Parking Fines/Tickets Operating Revenues Total OPERATING EXPENSES: Personnel Services: Salaries - Full Time Overtime - Fall Time Salaries - Part Time Benefits Personnel Services Total Supplies: Service and Charges: Miscellaneous: Depreciation: Operating Expenses Total Operating Income ONOPERATIN REVENUES (EXPENSES); Interest Income Sale of Property Nonoperating Revenues Total Net Income Net increase (decrease) in net assets Net Assets - .dart 1 Net Assets - Dec 31 2010 2011 2009 AMENDED ADOPTED $ I ncrease ACTUAL BUDGET BUDGET (Decrease) 117 321998 $ 401000 33,006 $ (7, 000) 108,928 1153000 110,090 (5,000) 341160 321000 31,000 1 1000) $ 17 ,O 6 $ 187,000 174,009 11 3r 00 $ 53,181 $ 48,780 $ 4607 $ (273) 3,505 37000 31000 - 21 ,765 361000 369000 - 16,770 17,527 16,922 1 ,395 $ 967221 1 05,307 $ 1069429 $ 1,122 $ 67109 $ 131400 $ 139400 - $ 49,339 693673 76,006 $ 5,330 2,162 1 F 9 '1,000 $ - $ 361869 $ 3 f $ 35,000 $ r 1881740 $ 224,383 $ 230s835 $ 61452 122654) (377333) $ (66,836) $ 19,452) $ 8,035 $ 151000 8,000 $ 7 :909) 31036 $ 15,000 8,000 $ (7,000) $ (4,619) (22,383) $ (48)835} $ (26,462) $ (41819) (22,383) $ (46)835) (26,452) 940,922 9363303 91 33920 (22,383) $ 9361303 $ 9131920 $ 8653086 $ (48,835) 117 CITY of ST[LLWATEF , MINNESOTA PARK. { LTG RAMP Fund Type: Enterprise Fund �+ * �• Fund Number: M Fund Description: The Parking Ram Fund was established to account for the operation and maintenance of the City's parking ramp. The parking ramp consists of 239 pay parking spaces and 29 free parking spaces. The Parking lump is located on rid Street North. Funding Source: Expenses are solely supported by parking fees charged to users. Notes: For budgeting purposes, the Parking Ramp Fund is separate from the Paring Fund. For financial statement purposes the parking ramp fund is combined with the Parking Fund. 118 CITY OF STI LL'1111ATE R, MINNESOTA PAIUUNG RAMP Fund Type: .83 Fund Number: 725 SUMMARY OF REVENUES AND EXPENSES OPERATING REVENUES: Parking Permits OPERATING EXPENSES: Supplies: Service and Charges: Miscellaneous: Depreciation: Operating Expenses Total Operating Income Net Income Net increase (decrease) in net assets Net Assets - Jan 1 Net Assets - Dec 81 2010 2909 AMENDED ACTUAL BUDGET $ 2$502 7,918 $ $ '1,428 $ 21082 2011 ADOPTED $ Increase 48,000 $ 48,000 $ 7,000 $ 7,000 64,800 44,300 $ 44,300 - 1,400 - $ 12400 $ 21100 $ 2,10 $ 111408 $ - 64,800 $ 54,800 $ 81 01 $ - $ (6,800) $ (6,800) $ (83901) $ -- $ ,800) $ (81800) (81901 ) $ - $ (6,800) $ (65800) -- (81991 ) (81901) - $ (81901 ) $ 81901 $ 'I 8, 0'[) ,800 119 THIS PAGE INTENTIALLY LEFT BLANK OTHER SCHEDULES THIS PAGE INTENTIALLY LEFT BLANK CITY OF STILLWATER, MINNESOTA BEA o ►� R 2 0 1:1 CAPITAL 0 LAY DEPARTMENT ADOPTED Account Nam GENERAL FUND Wireless (Council Chambers ) 2,000 Computer Equipment Routers (Public Works s to City Hall) 6t000 Computer Equipment Snitch 3,500 Computer Equipment Microsoft Licensing 10,000 Computer Equipment Cabling 12$000 Computer Equipment Computer Replacement 1,500 Computer Equipment Anti Virus Softw@re 4,700 Computer Equipment ArcGIS Lisensing 27400 Computer Equipment Websense Licensing 3 #635 Computer Equipment Server 20,600 Computer Equipment Total MIS 651735 Finance Software Upgrade pringbrool' 20,000 Computer Equipment Total Finance 20,000 Administration Computer Replacement 1,500 Computer Equipment Total Administration 1,500 PlantlCity Hall City Hall Improvements 35,400 Improvements Total Plant/City Hall 351400 Community Develoement Computer Replacement 1,500 Computer Equipment Total Community Development 11500 Police Computer Replacement 3,900 Computer Equipment MDC Replacement 13,000 Computer Equipment In -Car Video 3,666 Computer Equipment Total Police 24,900 Fire Computer Replacement 2,700 Computer Equipment SCI3A Receivers 2,000 Computer Equipment Improvements Unspent 17,642 Improvements Machinery & Equipment Unspent 4,657 Machinery & Equipment Firefighter Turnout Gear 1 0,000 Machinery & Equipment Master Stream Nozzle 4,500 Machinery & Equipment Minitor V Radian Pagers 4000 Machinery & Equipment CBA Receivers 2,000 Machinery & Equipment Total Fire 47,699 Engineering Computer Replacement x,400 Computer Equipment Total Engineering 2,400 Streets Computer Replacement 1,200 Computer Equipment Total Streets 1,200 TOTAL GENERAL FUND 200,334 123 CITY OF STILLWATER, MINNESOTA BEAT i BE � 3 �� ��� • 113N\ DEPARTMENT ADOPTED Account Name T CROIX VALLEY RECREATION CENTER FUND St Croix Valley Recreation reati Center ice Arena Computer replacement 11200 Computer Equipment P #500 Computer Equipment Rack 3,000 Computer Equipment Improvement (Unspent) 10,000 Improvements Machinery & Equipment (Unspent) 9,500 Machinery & Equipment Total St Croix Valleys Recreation Center Ice Arena 26,200 TOTAL ST CROIX 'VALLEY RECREATION CENTER 26,200 LIBRARY FUND per"atforr 3M SelfCheck 24,000 Computer Equipment Computer Replacement program 24,000 Computer Equipment Printer Replacement 2,500 Computer Equipment Software Upgrades 1,200 Computer Equipment New Computer Stations & Furniture 5,000 Computer Equipment Cabling 1,500 Computer Equipment Total Library Operations 58,200 Plant Building Monitoring Improvements 3,200 Computer Equipment Total Library Plant 3,200 TOTAL LIBRARY FUND 61,400 PARKS Building Improvements-Lily Lake/ Northland Park/Lowell Park 17,300 Improvements Rarnsey] rovefTriangle Play Equipment 90,000 Improvements Teddy Bear Turf Replacement 5,000 Improvement Fertilizer/Seed Mower Attachment 27,000 Machinery & Equipment Landscape Trailer 3#500 Machinery & Equipment Mower 38,000 Machinery & Equipment TOTAL PARKS FUND 181,300 SANITARY SEWER FUND Computer Replacement #700 Computer Equipment Software Upgrades Telernentry 5,500 Computer Equipment Sewer Lining (Downtown) 5001000 Improvements Improvements (Unspent) 97,059 Improvements Lift Station Improvements: Seal & Waterproof Dry bells- Marine Circle /Mid Oaks 20,000 Improvements Sewer Chewer/By-Pass Manhole-Nelson Street 35,000 Improvements Re -roof Lift Stations-Nelson/Aiple/Brick St 44,000 Improvements TOTAL SANITARY SEWER FUND UNB NDED) $ 754;259 SIGNS & LIGHTING Computer replacement 1,200 Computer Equipment Driver Feedback Sign 5,000 Machinery & Equipment TOTAL SIGNS & LIGHTING FUND (UNB LADED ) 61200 TOTAL 2010 CAPITAL OUTLAY 1 t22 t 93 124 CITY F STILLWATE , MINNESOTA SEA SEA 1� 2 0 It It CAPITAL 0 LAY r 7 (Financing) IS'- fl FINANCING: Bonded GO Capital Outlay (2009 Bond Issue General Fund St Croix Valley Recreation Center Fund Library Fund Parks Fund Total GO Capital Outlay (2009 Bond Issue) Total Bonded Capital Outlay Non - Bonded Capital Outigy Sanitary Sewer Fund Signs & Lighting Fund Total Non - Banded Capital Outlay: TOTAL BONDED AND NON - BONDED CAPITAL OUTLAY: 200,334 20,200 61,430 181,300 469,234 46% 74f2 6,200 760,459 '1,29,693 Funding is subject to change based on the closing of 2010 and the available 2009 capital bond proceeds, 125 THIS PAGE INTENTIALLY LEFT BLANK CITY OF STILLWATER SEA `� SEAS E Mbql INA .. The City has set aside Capital reserves which have been used mainly for the City's share of a major project. These funds come mainly from the early retirement of debt where there is no future commitment of these funds and unexpected income where, again, there is no future commitment of these funds. Committed and expected use of those funds are as follows: Balance of Capita! Reserves s as of 12/31109: $ 41605711 201 Commitments approved and in progress- 2009 Street Improvement Project 727,41 2009 Mill & Overlay (91,556 2010 Street improvement Project (6129698) Excess Funding (Washington Avenue Mill & overlay) 1527876 2011 Expected Future Commitments (from 2009 --2018 C 2011 Street Improvement Project 16,858} Expected Balance less approved and future commitments: Less Capital Reserve amount be be retained* Expected Available Balance as of 12/31111: 127 2150%467 (2,000,000) 609,467 CITY OF r MINNESOTA 'BEA S A The City funds its capital purchases with capital outlay bond proceeds which are issued annually and repaid through the debt service tax levy. The City's policy is to maintain a level debt service (bond principal and interest). This level debt service, in turn, provides for a level debt service levy. As part of the City's planning process, the City's policy is to budget and fund (using capital outlay bend proceeds) for larger projects over multiple years to reduce the impact on the bond issuance for any given budget year. Below is a list of capital projects /funds that already have been budgeted and bonded for, and that have been set aside (reserved) for future purchase (beyond 2011)- EXPECTED BUDGET AMOUNT YEAR of PROTECT DESCRIPTION YEAR IN RESERVES FUNDING OU CE FUND PURCHASE Lowell Park Improvement 2001 1801000 2001 CO Bonds 423 2012 Lowell Park Improvement 2002 $1751000 2002 Co Bonds 423 2012 Lowell Parr Improvement 2008 $1651000 2003 Co Bonds 420 2012 Pedestrian Plaza 2005 $375,000 2005 CO Fonds 405 2011 Refrigeration Retrofit 2008 $001000 2008 CO Bonds 408 2012 Refrigeration Retrofit 2009 $1608,000 2009 CO Bonds 409 2012 Insulation 2009 $70,000 2000 CO Bonds 409 2012 Roll off Truck 2007 $24)100 2007 Co Bonds 407 2O12 Roll off Truck 2008 $40, 400 2008 Co Bonds 408 2012 .Roll off Truck 2009 $105,250 2009 CO Bonds 409 2012 *Proiects that also have funding included 1n the 2011 Capital Outlay. See pages 128 -'125. 128 cnrj THIS PAGE INTENTIALLY LEFT BLANK CITY of STILLWATEF BEA j BEA T r +� GLOSSARY OF ERMS 4. Adopted Budget The financial plan of revenues and expenditures for a fiscal year as adopted by the City Council. Appropriation An authorization ma de by the legislative body of a government, which permits officials to incur obligations against and to male expenditures of governmental resources. Appropriations are usually made for fixed amounts and are typically granted for a one -year period. Department An organizational unit of the City that manages an operation of related operations within a functional area. Balanced Budget A budget in which planned funds equal planned expenditures. Bond A written premise to pay (debt) a specified sum of money (principal or fake value) at a specific future date (maturity date) along with periodic interest paid at a specified percentage of the principal (interest rate). Bonds are typically used for long-term debt. Bond Rating A rating from a schedule of grades indicating the probability of timely repayment of principal and interest on bonds issued by the rating entity (the City), Bonded Outstanding debt by issuance of bands, which are repaid with property taxes, special Indebtedness assessments, tax increment, or other revenue. Budget A financial plan that presents proposed expenditures (both operating and capital) for a fiscal year and estimates of revenue to finance those expenditures. Capital Assets Assets of the City (buildings, vehicles, land, infrastructure) with an expected life of more than two years and a unit cost of 1 000 and greater. Capital Assets are sometimes referred to as fined assets. Capital A -year plan that identifies priorities and a timefrar a for undertaking capital projects and Improvement Plan provides a financing plan for those projects. 1P) Capital outlay A level of budgetary appropriations that include expenses for the addition of capital assets such as land, building, machinery & equipment. Certified Property Total tax levy of a jurisdiction which is certified to the County. Tax Levy Charges for Consists of a wide variety of fees for services charged by City agencies. Services Class Fates The percent of market value set by state law that establishes the property °s tax capacity subject to the property tax. COLA Cost of Living Adjustment contingency An appropriation of funds to cover unforeseen events that occur during the fiscal year. Contingency appropriations for the City of Stillwater are found under Mayor & City Council and the unallocated departments of the General Fund. 131 CITY of STILLWATER BE BEAU Pti}'� A. • 3 Culture and For reporting purposes only, this program category are expenditures related to cultural and Recreation recreational activities maintained by the city for the benefit of residents and visitors. They include, but are not limited to Special Events, St Croix ► all ey Recreation Center, Library, and Parks. Date Due The final date that the amount due can be paid before late fees begin to incur. Debt Limit The maximum imum amount of gross or net debt that is legally permitted. Debt Margin The amount of available debt that be issued by a governmental unit before reaching its debt limit. Debt Service Payment of interest and repayment of principal to holders of a government's debt instruments. Deferred Payment postponed until a future time, by resolution of a taking authority. Deficit The excess of an entity's liabilities over its assets, or the excess of expenditures or expenses over revenues during a single accounting period. Department Basic organizational unit of government responsible for carrying out related functions. Depreciation The systematic allocation of the cost of an asset over its useful life. For the City of Stillwater, depreciation is only expensed in it's enterprise funds (Sanitary Sewer, Storm Sewer, Signs Lighting. and Parking) Estimated Market An assessor's estimate of what property would be worth on the open market if sold. The ,market Value value is set on Jan. 2 of the year before taxes are payable. Equalization The process undertaken by different government bodes to ensure that all property under its jurisdiction is equitably assessed in terms of uniformity and consistency. Washington County holds a "Board of i e iew" during the ,month of [day. Fines & Forfeits Receipts from penalties imposed for violation of laws or regulations, or neglect of duty. Fiscal Disparities Cities in the seven - county (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington) metropolitan area and in the Taconite Area portions of St. Loins, Itasca, Crow Wing, and Aitk n counties, and all of Lake and Cook counties) participate in a program to share property tax base known as the "fiscal disparities program." The metropolitan -area program began in 1975 while the program for the Taconite Area began in 1 998. Each year, 40 percent of the growth in corn Mercia1, industrial, and public - utility tax capacity in each city since the base year of 1971 for the metro and 1995 for the Taconite Area is contributed to a shared pool. Participating cities receive a tax capacity distribution from this pool that is determined by comparing each city's market value per capita to the average market value per capita. Each city's distribution leery is generated by applying the local tax rate to the distribution tarn capacity. Fiscal Disparities The tax capacity contributed to the Metropolitan and Iron Gunge fiscal disparities programs. Cities Tax Capacity in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, Washington, Lake, and Cook counties and Contribution portions of St. Louis, Itasca, Crow Iflfing, Aitk in, and Koochiching counties are affected by these programs. Fiscal Disparity The tax capacity received from the fiscal disparities programs. only cities located within the Twin Distribution Cities metropolitan area and the Taconite belief Area are affected by these programs. 1 CITY of STiLLWATE GLOSSARY OF ERMS Fiscal Year Any period of 12 consecutive moths designated as the budget year or financial reporting year). The City of Stillwater budgets on an annual basis with the fiscal year beginning on .January 1 and ending on December 31. Franchise Fees Fee imposed on foal sales of public utility services which in turn grants "blanket" access to City right -a -way to install /repair public utility services. The City of Stillwater imposes a franchise fee on gas and electric utility services. Full -Time A unit for measuring staffing levels equal to one position working 40 hours per week for an entire Equivalent (FTE) year (2,080 hours per year). Fund An independent fiscal accounting entity with a self-balancing set of accounts recording cash and for other financial resources, together with al related liabilities and residual or equities, which are segregated for the purpose of carrying on specific activities or attaining certain objectives in accordance with special regulations, restrictions or limitations: Full Faith and A pledge of the general taking power of the City to repay debt obligations. Credit Fund Balance The cumulative excess of revenues over expenditures in a fund at the end of a fiscal year for governmental funds. GAB An organization whose main purpose is to improve and create accounting reporting standards or overn ent generally accepted accounting principles GAAP)- These standards make it easier for users to Accounting understand and use the financial records of both state and local governments Standards Board) GAAP LGeneral Conventions, rules and procedures that serve as the norm for the fair presentation of financial Accepted statements. Accounting Principles) General For reporting purposes only, this program category refers to those expenditures that are related to Government the programs and services that are associated with general centralized City functions. They include, but are not limited to, Administration, Legal, Finance, Elections, Community Development, and City Council. General Insurance For the City of Stillwater, this consists of worker's compensation insurance and Property & general liability insurance. Currently, the City purchases its insurance through the League of Minnesota Cities Insurance Trust Homestead For property tax purposes: this classification is a tax benefit granted to property owners or qualifying relatives who are Minnesota residents and who own and occupy their homes as their primary places of residence. Interest Earnings Used to describe all revenues received in a period from investment earnings and penalties interest imposed on delinquent property takes and special assessments. Interfund Transfers Flows of assets (such as cash or goods) between funds without equivalent flows of assets in return and without requirement for repayment. Intergovernmental Revenues from other governments in the fora of grants, entitlements or shared revenues. Does Revenue not include charges for services provided by a city fund to another government. 133 CITY OF STI LLWATE BE4 SEA co'. IZI Legal Description This may be an abbreviated method of geographically identifying a parcel of land for to purposes. The county recorder ,maintains the recorded legal description, which is acceptable in a court of Iaw. Levy To impose taxes, special assessments, or service charges for the support of governmental activities. Leery limit The maximum amount which is permitted to be levied by a taking jurisdiction as established by Minnesota Statutes. For budget years 2009, 2010 and 2011, levy limits are in effect for city's with a population of over 6,000. Licenses and Revenues derived from the issuance of local licenses and permits including liquor and Permits occupational licenses, building permits, and other miscellaneous permits. Local Government An intergovernmental revenue from the State of Minnesota and recorded as L A in the revenue Aid (L GA) section of the General Fund. The amount of Local Government Aid given to a particular city is based on a formula approved by the Mate Legislature. Components of the formula include (but not limited to ) vehicle accidents, population, housing units, etc. This aid originally was designed to provide tax relief and equalization among cities. Daring the 2008 (for budget year 2000) legislature session, the distribution formula changed yet again. LA payments are made in two equal installments on or around July 21 and December 26 of each year. Local Tax bate The rate used to compute takes for each parcel of property. Local tax rate is computed by dividing the certified leery (after reduction for fiscal disparities distribution levy and disparity reduction) by the taxable tae capacity. Market Value A State run program designed to provide state -paid property tax relief to owners of certain Homestead Credit qualified homestead property. Qualifying homeowners do not have to apply for this credit -it is ( VHC) automatically applied to the owner's property takes. The State then reimburses the City for the value of the credit. MVHC payments are disbursed to Cities on or around Oct 31 and Dec 26. Miscellaneous Revenues not properly classified as takes, licenses and permits, intergovernmental revenues, Revenues charges for services, or fines and forfeits.. Municipal Mate Ald The Minnesota constitution requires that state gasoline takes and ,motor vehicle registration fees provide funding for certain city, county and state roads. These revenues are distributed through the highway user distribution fund. This fund is distributed by the Department of Transportation for state trunk highways and for certain county and city roads through the county state highvwray CSAH and municipal state aid (MSA programs. Twenty -nine percent of the fund is dedicated for certain county roads and highways. Dine percent is dedicated to cities with populations of over 5,000. The remaining 62 percent is dedicated to Mate trunk highway system. certain construction standards must be adhered to before a rood can be designated as an city LISA street. The City of Stillwater does have some roads within the city limits designated as MSA streets. This revenue sources is recorded in the revenue section of the General Fund. Other Financing Increase in current financial resources that is reported separately from revenues to avoid Sources distorting revenues trends. GA AP provide for the use of the other financing sources category in five specific instances: 1 Issuance of Debt; Interfund transfers; Proceeds of the sale of capital assets; 4 Insurance Proceeds; and 6 Payments on demand bonds. 134 CITY OF ST1 LLWATER S S/ F {+ yye-� •"4.F ✓ .`y1? rs Other Financing Decrease in current financial resources that is reported separately from expenditures to avoid Uses distorting expenditure trends. GAAP provide for the use of other financing uses category in four specific instances: 1 Issuance Discounts on long -term debt; Refunding transactions; (3) Interfund Transfers; and 4 Reclassification of demand bonds. Parcel Number A unique number used as the identifier of each parcel. It is sometimes referred to as the parcel identification number (PIN) and a format as follows x being a number): xx.xxx.xx.xx. xxx. PERA Public Employees Retirement Association of Minnesota. Established in 1931, PERA administers three statewide retirement plans providing defined benefit plan coverage to employees of local governments and school districts, and one statewide retirement plan providing defined contribution DCP coverage to elected officials and medical personnel. All four retirement plans are qualified retirement plans under Section 491 a of tine Internal Revenue Code. Personnel Services A level of budgetary appropriations that include expenses for wages, employee benefits and required employment takes. Program A group of related activities performed by one or more organizations units for the purpose of accomplishing a function for which the City is responsible (General Government, Public Safety, Culture and Recreation etc.). Property class The statutory classification assigned to each parcel of property based on the use of the property. For example, owner - occupied residential property is classified as homestead. Property Tax in general, a tax levied on any hind of property; that is, real, personal, or a mobile manufactured home. The amount of the tarn is dependent on the value and property tax classification of the property. Property Tax Levy The tax imposed by a local unit of government. Tire tax is established on or around Dec. 28 of the year preceding the year the leery will be paid by taxpayers. For the City of Stillwater, the tax levy consists of a General Tax Levy (funds used for basic operations of the City) and a Debt Service Levy (funds needed for the repayment of certain bond issues) Property Taxes Used to describe all revenues received in a period from current takes and delinquent takes. Property takes are levied on both real and personal property according to the property's valuation and tax rate. Public Safety For reporting purpose only, this program category are expenditures related to protection of persons and property. They include, but not limited to, Police, Fire, Civil Defense, and wilding Inspections. Public Employee All full -time and certain part -time employees of the City of Stillwater are covered by defined Retirement benefit pension plans administered by the Public Employees Retirement Association of Association Minnesota (PERA). PERA administers the Public Employees Retirement Fund PERF and the (PERA) Public Employees Police and Fire Fund PEPFF which are cost- sharing, multi ple-emplo rer retirement plans. This plan is established and administered in accordance with Minnesota ota Statutes # Chapter 353 and 356. PERF members belong to either the Coordinated Plan or the Basic Plan. Coordinated Plan members are covered by Social Security and Basic Plan members are not. All new members must participate in the Coordinated Plan. All police officers, firefighters and peace officers who qualify for membership by statute are covered by the PEPFF. 135 CITY OF S T I L LWAT E SEA $ FA' GLOSSARY OF ERMS Public Works For reporting purposes only, this program category are expenditures related to the maintenance and enhancement of the City's infrastructure. They include, but are not limited to, Engineering and Streets. Some of the City's enterprise funds {such as Sanitary Sewer, Storm Sewer and Signs & Lighting ) along with the parks department fail under the City departmental organizational chart as public works. For reporting purposes, these expend itures/e penses are not categorized as public works expenditures/expenses. Reserve An account used for recording a portion of the fund balance which must be segregated for some future use and which is, therefore, not available for further appropriation or expenditure. Resolution A special or temporary order requiring less, legal formality than an ordinance or statute of a legislative body. Services & A level of budgetary appropriations which include expenses for outside professional services, Charges advertising, insurance etc. Special A leer made against certain properties to defray part or all of the cost of a specific improvement Assessment or service which is presumed to be of general benefit. Funds are collected by the County with other property taxes and then disbursed to the local government. Special Principal amount due to pay off the assessment in full. Assessment Balance Due Supplies A level of budgetary appropriations which include expenses for commodities that are used. e.g. office supplies, repair and maintenance supplies etc. Tax Capacity The valuation of property based on market value and statutory class rates. The property tax for each parcel is based on its tax capacity. Tax Capacity Rate Tax rate applied to the tax capacity to generate property tax revenue. The rate is obtained by dividing the property tax levy of the City) by the total of the City) tax capacity. Tai moll The official list of each taxpayer subject to a property tax, together with the amount of the assessment and the amount of takes due. It is also known as the tax book that lists the names of the owners or those taxpayers that receive the tax statement. Tax Increment A district created by local governments under State of Minnesota Statues whereby public District improvement expenditures within the district are financed by the tax levy on the incremental increase in property values. Tarts A mandatory contribution of ,money collected by the government, according to law, for the general support of the government and for the maintenance of public service , whether federal, state, or local. Taxable Market This is the value of the parcel that the takes are actually based on (after all reductions, limitations, Value exemptions and deferrals). This value along with the class rate and the budgets of the local governments the parcel is located inn determines the amount of property takes owned. Total Tax Capacity The amount computed by first totaling the tax capacities of all parcels of property within a city. Adjustments for fiscal disparities, tax increment and a portion of the power line value are made to this total since not all tax capacity is available for general tax purposes. 136 CITY of STILL WATER ATE CIL SEA GLOSSARY OF TERMS 1 f Truth -in -Taxation The "taxation and notification law" requires local governments to set estimated levies, inform taxpayers about the impacts, and hold a separate hearing to take taxpayer input. Truth -in Ja ati n A notice ,nailed to property owners in November showing what the assessed value of the property Notice will be for the following year and giving a preliminary estimate of the property tax amount for the following year. The amount is based on preliminary levies submitted by Anoka County, your city or township, your school district, and other taxing authorities.. Dates and times are given for upcoming public meetings with all those bodies at which objections to the levy amounts may be expressed. This notice does not include amounts for waste management fees, special assessments, or school district referenda subsequently approved. Waste A charge levied against all improved County properties. Revenues from which are used to Management Fee protect our public health, land, air and water through waste-to-energy conversion, extensive recycling efforts, household hazardous waste collection, yard waste composting, public information and waste reduction. 137 CITY OF STILLW TE