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2012 Budget Book
CITY OF STILLWATER 2 �E BEAUTiFG( , 1 � ,`�,E BEAUT�FG MINNESOTA 'YES iJ 3 n�U N /s. MANN 216 4th Street North Stillwater, MN 55082 Phone: 651.430.8800 Web Address: www.ci.stillwater.mn.us PREPARED BY THE FINANCE DEPARTMENT 2012 BUDGET �E BEAUTi,�, ,�. BEAUTTFG TABLE a 2012 BUDGET ............................... 24 -25 1. INTRODUCTION ............................... 27 CityOfficials .................................................................................. ............................... 3 MissionStatement ............................................................................. ............................... 4 Organizational Chart. ............................................. 5 CertifiedLevy .................................................................................... ............................... 6 Debt Service Levy Obligations .............................................................. ............................... 7 BudgetOverview ............................................................................... ........I...................... 8 -10 Property Tax Calculation ..................................................................... ............................... 11 -13 Trend Information: ............................... 40 -41 Total Certified Levy (past 10 years) ......................................................... ............................... 16 CityTax Rate (past 10 years) ............................................................. ............................... 17 General Tax Levy and Levy Limits (past 10 years) ................................. ............................... 18 Local Government Aid & General Tax Levy (past 10 years) ...................... ............................... 19 Bond Rating (past 10 years) .............................................................. ............................... 20 BUDGET SCHEDULES A. GENERAL FUND General Fund Summary ............................................................... ............................... 24 -25 Revenues.................................................................................. ............................... 27 Expenditures: ............................... 62 -63 Mayorand Council .................................................................... ............................... 28 -29 Elections................................................................................ ............................... 30 -31 MISSupport Services ................................................................ ............................... 32 -33 Finance.................................................................................. ............................... 34 -35 Administration.......................................................................... ............................... 36 -37 Legal /City Attorney ................................................................... ............................... 38 -39 Plant/City Hall .......................................................................... ............................... 40 -41 Community Development ........................................................... ............................... 42 -43 Police.................................................................................... ............................... 44 -45 Fire....................................................................................... ............................... 46 -47 Inspections............................................................................. ............................... 48 -49 CivilDefense ........................................................................... ............................... 50 -51 Engineering............................................................................. ............................... 52 -53 Streets................................................................................... ............................... 54 -55 Unallocated............................................................................. ............................... 56 -57 B. SPECIAL REVENUE FUNDS Special Revenue Funds Summary .................................................. ............................... 60 -61 SpecialEvents ........................................................................... ............................... 62 -63 St Croix Valley Recreation Center .................................................. ............................... 64 -65 Library...................................................................................... ............................... 66 -67 Parks....................................................................................... ............................... 68 -69 Downtown Beautification .............................................................. ............................... 70 -71 Washington County Recycling Grant ............................................... ............................... 72 -73 DARE....................................................................................... ............................... 74 -75 CITY OF STILLWATER, MINNESOTA 6EA ," G� TABLE OF CONTENTS JN/> . b 3 � (Continued) C. DEBT SERVICE FUNDS Debt Service Funds Summary ....................................................... ............................... 78 -79 GO Capital Outlay Bonds ............................................................. ............................... 80 -81 GO Improvement Bonds ............................................................... ............................... 82 -73 GO Tax Increment Financing Bonds ............................................... ............................... 84 -85 GORevenue Bonds .................................................................... ............................... 86 -87 OtherLong -Term Debt ................................................................. ............................... 88 -89 D. CAPITAL PROJECT FUNDS Capital Project Funds Summary ..................................................... ............................... 93 Tax Increment Financing District # 1 ................................................ ............................... 94 -95 Tax Increment Financing District #4. .............................................................................. 96 -97 Tax Increment Financing District # 6 ................................................ ............................... 98 -99 Tax Increment Financing District # 8 ................................................ ............................... 100 -101 Tax Increment Financing District # 9 ................................................ ............................... 102 -103 Tax Increment Financing District # 10 .............................................. ............................... 104 -105 E. ENTERPRISE FUNDS Enterprise Funds Summary ........................................................... ............................... 108 -109 SanitarySewer ........................................................................... ............................... 110 -111 StormSewer .............................................................................. ............................... 112 -113 Signs& Lighting ......................................................................... ............................... 114 -115 Parking..................................................................................... ............................... 116 -117 ParkingRamp ............................................... ............................... ............................. 118 -119 III. OTHER SCHEDULES CapitalOutlay ................................................................................... ............................... 123 -126 Reserves BondProceeds ............................................................................... ............................... 127 IV. APPENDIX Glossary.......................................................................................... ............................... 131 -136 ' �E BEA(�J �E BEAUTY r� OFFICIALS M Jy�S a 3 n�� �J VAS a 31\\ January 1, 2012 ELECTED OFFICIALS Mayor Ken Harycki Term Expires: January 2015 Councilmember's Ward 1 Doug Menikheim Term Expires: January 2015 Ward 2 Micky Cook Term Expires: January 2013 Ward 3 Jim Roush Term Expires: January 2013 Ward 4 Mike Polehna Term Expires: January 2015 APPOINTED OFFICIALS Larry D. Hansen, City Administrator/Treasurer David T. Magnuson, City Attorney Sharon Harrison, Finance Director John Gannaway, Police Chief Stuart Glaser, Fire Chief Shawn Sanders, Public Works Director /City Engineer Bill Turnblad, Community Development Director Lynne Bertalmio, Library Director Q CITY OF • MISSION STATEMENT UT� eRC�h�� 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 Council in 1995 1�' t Program Types: General Government Public Safety Public Works Culture and Recreation Proprietary CITY OF STILLWATER, MINNESOTA ORGANIZATIONAL CHART CITY ATTORNEY CITIZENS OF STILLWATER MAYOR & CITY COUNCIL DOWNTOWN BOARDS AND BEAUTFICATION COMMISSIONS ELECTIONS COMMUNITY DEVELOPMENT MIS BUILDING INSPECTIONS ADMINISTRATION ENGINEERING PLANT /CITY HALL WASHINGTON CO SANITARY SEWER RECYCLING GRANT CITY ADMINISTRATOR/ TREASURER FINANCE PUBLIC WORKS STREETS HERITAGE PRESERVATION COMMISSION PLANNING COMMISSION PARKS BOARD JOINT CABLE COMMISSION HUMAN RIGHTS COMMISSION LIBRARY LIBRARY BOARD FIRE POLICE ST CROIX VALLEY CIVIL DEFENSE RECREATION CENTER DARE PARKS PARKING STORM SEWER I NS & LIGHTING PARKING RAMP I ('_ITV r11: CTII 1 WATER MINIAIFCr1TA H�l , , , i U Pursuant to Resolution 2011 -180, on December 6, 2011 the City Council adopted the final certified tax levy of $10,246,597 for taxes collected in the year 2012. 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 $ 6,963,509 SPECIAL LEVYS: Debt Service Levy 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 in the year 2011 is $3,215,195 and consists of the following Debt Service Obligations: Fund # Reauired Levy for 2012 Amount 305 G.O. Capital Outlay 2005A $ 227,556 307 G.O. Capital Outlay 2007A 194,204 308 G.O. Capital Outlay 2008A 219,883 309 G.O. Capital Outlay 2009A 219,240 315 G.O. Capital Outlay 2005B 276,011 316 G.O. Capital Outlay 2006A 570,825 319 G.O. Capital Outlay 2009B 141,015 329 G.O. Capital Outlay 2009D 419,278 340 G.O. Improvement Bonds 2004A 300,456 385 G.O. Sports Center 2005C 158,567 389 G.O. Sport Facility Revenue 2009C 98,031 Subtotal 2,825,066 New Debt: 312 GO Capital Outlay 2012 200,000 324 GO Capital Outlay 2012 (Armory) 85,000 TOTAL $ 3,110,066 Debt Service Levys Reduced The following debt service levy was reduced due to other funding already available: 389 G.O. Sport Facility Revenue 2009C PERA Emolover Contribution Rate Increase Le The PERA Employer Contribution Rate Increase special levy is to pay the increased cost of required employer contribution to the regular plan of the Public Employees Retirement Association (PERA) due to rate increases effective on or after January 1, 2002. For the Coordinated Fund, the employer rate increase form 5.18% prior to January 1, 2002 to 6.75% of total salary for payable 2009. For the Police and Fire Fund, the employer rate increased form 9.3% to 14.1% of total salary. Prior to 2009, the PERA Employer Contribution rate increase was included with the General Fund # Amount 100 PERA Employer Contribution Rate Increase Levy $ 173,022 CITY OF • . LEvYOBLIGATIONS �,� BEgUJ $3,000,000 I I $2,500,000 i I $2,000,000 j TOTAL CERTIFIED LEVY $1,500,000 t Uapital Uutlay Bonds Hevenve Total - -- – $411,542 $300,456 I $1,000,000 i � 2013 $2,015,993 $407,200 $298,696 $2,721,889 -- - - -- — $500,000 $2,515,704 2015 i; $423,313 $303,109 $2,312,938 2016 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 $1,118,937 10 Capital Outlay Bonds 0 Revenue Bonds 0Improvement Bonds $0 $1,543,174 2018 The above graph shows the amount of debt service required to be levied for each budget year beginning with 2012. The amount of levy can be reduced or "cancelled" if there are sufficient funds available to pay the required debt service. Year Uapital Uutlay Bonds Hevenve Total 2012 $2,268,012 $411,542 $300,456 $2,980,010 2013 $2,015,993 $407,200 $298,696 $2,721,889 2014 $1,801,309 $412,997 $301,398 $2,515,704 2015 $1,586,516 $423,313 $303,109 $2,312,938 2016 $1,355,057 $426,778 $298,761 $2,080,596 2017 $1,118,937 $424,237 $0 $1,543,174 2018 $1,108,952 $174,326 $0 $1,283,278 2019 $1,001,463 $173,880 $0 $1,175,343 2020 $980,340 $0 $0 $980,340 2021 $689,740 $0 $0 $689,740 2022 $387,450 $0 $0 $387,450 2023 $389,970 $0 $0 $389,970 2024 $391,860 $0 $0 $391,860 2025 1 $393,120 $0 $0 $393,120 Note: The above levy amounts do not include amounts for any anticipated 2012 bond issues. 7 CITY OF ` MIRNES-OTA BUDGETOVERVIEW SI �ti BEAUT.r �@ BEAUTF General Description and Form of Government The City of Stillwater, incorporated in 1894, is a growing community located on the St Croix River in 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 18,225. The City of Stillwater operates under the "Home Rule Charter" form of government under the provisions of State 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 is responsible, among other things, for passing ordinances, adopting 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 a 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 infrastructure. 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 expenditures /expenses. Government resources are allocated to 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 as follows: Governmental Funds - Governmental Funds are used to account for the "governmental- type" activities of the City (e.g. activities that receive a significant portion of their funding from property taxes, state aids, and various grants). The Governmental Funds budgeted for the City are the General Fund, Special Revenue Funds, Debt Service Funds, and Capital Project Funds. Proprietary Funds - Proprietary Funds are used to account for the "business- type" activities of the 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 Budgeting The Governmental Funds are budgeted and accounted for on a modified accrual basis. Under this method, revenues are recognized when they are measurable and available. "Measurable" means the amount of the transaction can be determined and "available" means collectible within the current period or soon enough thereafter (usually within 60 days after the end of the year) to pay liabilities of the current period. Expenditures are recognized when a transaction is expected to draw upon current spendable resources, rather than future resources. The Proprietary Funds are budgeted and accounted for on a full accrual basis. Under this method, revenues are recorded when earned and expenses are recorded at the time the liabilities are incurred. �E BEAUI��� � �F 6EpUl�C BUDGETOVERVIEW J 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 1st to December 31 st. The City Administrator and City staff address the Council's concerns in the preparation of the budget and evaluate the financial costs of the implementation of these policies and include them in the budget where economically feasible. 2012 Budget Calendar: 2011 April Finance Department begins budget process by preparing projected wages, benefits and insurance costs for the upcoming fiscal budget year. May 3 The proposed budget calendar, the budget workshop meeting dates, and the date for the adoption of the proposed budget, tax levy and the setting of the truth -n- taxation hearing dates are May 9 Budget worksheets are distributed to Department Heads /Division Supervisors for completion. May 20 Budget workshop for Council to set priorities for the 2012 Budget. June 6 Completed budget worksheets are due to the Finance Department. The Finance Department assembles the preliminary (requested) budget information. June 15 - June 30 The City Administrator reviews requested budget, meets with Department Heads to review budget requests, and makes recommendations regarding the budget. July 1 -August 9 Finance Department makes adjustments and prepares City Administrator's preliminary proposed budget. August 10 City Administrator's preliminary proposed budget is distributed to the City Council for review. August 15 & 23 Council meets during a budget workshop session with the City Administrator and Department August 24 - The Finance Department makes budget revisions and prepares the final proposed budget for Setpember 3 Council adoption. September 6 Council adopts the proposed budget, the proposed tax levy and sets the Truth -n-Taxation hearing Prior to State Statutes require that the proposed budget, the proposed property tax levy and the 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 to the County Auditor prior to September 15. November 15 Notice of 2012 T -N -T Budget meeting announced. December 6 City to hold the Truth- n- Taxation meeting. 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 15 of each year. Once the City adopts the proposed tax levy, the final tax levy can ONLY remain the same or be decreased, not increased. CITY OF ST1LLTTATER-,fl1h1AES0TA 44a BEAUTj�, i 1 ' y 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 (TIF 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 Program 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. Property Tax Levy 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 PERA 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 Hearing 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 6, 2011 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. 10 (`ITY nF RT11 I WOTFR MIKIMFCnre BEAUT. , = G _ .w c IMPORTANT PROPERTY TAX LAW CHANGE The 2011 Legislature repealed the Homestead Market Value Credit and replaced it with a new program called Homestead Market Value Exclusion. This change is impacting the property taxes on all homesteaded and non - homesteaded property for property taxes payable in 2012 Old Law: All homesteaded property under $413,800 in property value received a Homestead Residential Market Value Credit. This credit reduced the amount of property taxes paid. The credit was equal to 0.4% of the first $76,000 in market value. If the value of the home was above $76,000, the credit was reduced by 0.09% of the market value over $76,000. Homes valued at $413,800 and above received no homestead credit. The chart below gives examples of the amount of credit on various valued homes: Estimated Market Value Taxable Market Value Homestead Residential Market Value Credit $76,000 $76,000 $304.00 $150,000 $150,000 $237.40 $250,000 $250,000 $147.40 $350,000 $350,000 $57.40 $400,000 $400,000 $12.40 $425,000 $425,000 $0.00 Under the old law, the State was reducing the taxes paid by homesteaded property and then in turn the State promised to pay that portion (Homestead Residential Market Value Credit) of the tax to the local taxing districts out the of State's budget. However, due to the large budget deficits facing the State's budget in the past seven to eight years, the State unalloted much the the Homestead Residential Market Value Credits owed to the local governments. This left a significant shortfall in the City's budget. New Law: All homesteaded property under $413,800 in property vlaue will receive a Homestead Market Value Exclusion. The homesteaded property no longer receves a credit that reduces the properyt taxes paid. Instead, a portion of the property's vlue will be excluded from taxation. The Homestead Market Value Excludes from taxation 40% of the value on the first $76,000 of a perty's value. The amount excluded is reduced as the value rises over $76,000 (the exclusion reduction is equal to 9% of the value over $76,000). Homesteads that $413,800 in value will receive no homestead exclusion. The chart below gives examples of the exclusion amount on various value homes: Estimated Market Value Taxable Market Value Taxable Market Value (after Exclusion) $76,000 $30,400 $45,600 $150,000 $23,740 $126,260 $250,000 $14,740 $235,260 $350,000 $5,740 $344,260 $400,000 $1,240 $398,760 $425,000 $0 $425,000 This new law eliminates the state providing a homestead credit but in turn reduces the taxable value of the City. This reduction in taxable value increases the tax rate as there is less taxable value to spread the tax levy over. 11 \,E OEAU��.r N� BEAUr /.r 0 c 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. Property Tax Revenue Needed (Levy)" Less Fiscal Disparity Contribution Box 4 City -Wide Assessor's Maket Value Less Market Value Exclusion x times Box 5 State State Mandated Class Rates = equals Box 6 divided by Total City -Wide Taxable "Tax Capacity" = equals Box 7 City's Property Tax Rate Boxes 1 - 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 2012 CITY PROPERTY TAX RATE (ESTIMATED): City Budget Governmental Funds Budget $ 12,827,923 Debt Service Budget 3,817,060 Total City Budget Box 1 Less Non - Property tax revenues Box 2 Certified Levy Less Fiscal Disparity Contribution Box 3 City Levy Box 4- City Taxable Tax Capacity Box 7 City Tax Rate (estimated) 12 $ 16,644,983 6,398,386 $ 10,246,597 1,122,580 $ 9,124,017 $ 16,707,145 54.611% ,�1(. BEAUt�FG. 04ii, k BEAU),♦ CALCULATION djn,��� A,il3t• HOW CITY PROPERTY TAXES ARE CALCULATED Step 2. Calculate Individual Parcels City Property Tax Formula: Property's Net Tax Capacity x City Property Tax Rate = Property's City Property Tax NET TAX CAPACITY The Net Tax Capacity is calculated by multiplying the Taxable Market Value less the Market Value Exclusion of the parcel by the appropriate assigned Class Rate of the parcel. - the Taxable Market Value (TMV) refers to the amount of value of the parcel that is used in calculating taxes. The TMV is determined by Washington County Assessor's office and then reduced by the Market Value Exclusion. - the Class Rate is based on the assigned use or classification of the parcel. Class Rates are determined by the MN Legislature and a portion of the rates are as follows: Property Class Taxable Market Value Payable 2011 Residential Homestead First $500,000 of value 1.00% Over $500,000 of value 1.25% Residential Non - Homestead Single Unit First $500,000 of value 1.00% Over $500,000 of value 1.25% Market Rate Apartments Regular 1.80% Commercial Industrial First $150,000 of value 1.50% Over $150,000 of value 2.00% ACTUAL CITY PROPERTY TAX CALCULATION (Property Class: Residential Homestead) Market Value Exclusion Taxable Market Value (after exclusion) Parcel Tax Capacity First $500,000 @ 1.00% Over $500,000 @ 1.25% Total Tax Capacity City Tax Rate City Property Tax Taxable Market Value $76,000 $150,000 $250,000 $425,000 $750,000 $30,400 $23,740 $14,740 $0 $0 $45,600 $126,260 $235,260 $425,000 $750,000 456 1,263 2,353 4,250 5,000 0 0 0 0 0 456 1,263 2,353 4,250 5,000 54.611% 54.611% 54.611% 54.611% 54.611% $249.03 $689.74 $1,285.00 $2,320.97 $2,730.55 13 CITY OF STILLWATER, MINNESOTA TREND INFORMATION (Past io Years) TOTAL CERTIFIED LEVY $12,000,000 i $10,000,000 $8,000,000 $6,000,000 i $4,000,000 i $2,000,000 i r j L 2003 2004 2005 2006 2007 2008 2009 2010 r 2011 2012 m General Tax Levy 0 Debt Service Levy OPERA Levy 0 Unalloted Aids & Credit Levy The Certified Levy consists of the General Tax Levy (General Fund operations), the Debt Service Special Levy (Debt Service obligations), the PERA Employer Contribution Rate Increase Special Levy* and the Unalloted Aids and Credit Special Levy. Beginning with payable 2009, the City certified a special levy for PERA 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 Levys i i Unalloted Aids Debt Service ; & Credits Total Certified Levy Year General Tax Levy 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 $5,580,145 $3,305,610 $0 $0 $8,885,755 2007 $6,102,192 $3,284,430 $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 $10,099,769 2010 $6,479,727 $3,385,158 $163,351 $81,954 $10,110,190 2011 $6,523,288 $3,215,195 $171,974 $247,910 $10,158,367 2012 $6,963,509 $3,110,066 $173,022 $0 $10,246,597 Beginning with payable 2009, the City certified a special levy for PERA 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 `fit Bt A(TTi G x, a I 60% I i 50% 4 I 40% I 30% I I I I 20% 10% 0% 1 2 CITY OF STILLWATER, MINNESOTA TREND INFORMATION (Past io Years) CITY TAX RATE m� Year Total Certified Levy Fiscal Disparity Contribution City Levy City -Wide Taxable Tax Capacity City Tax Rate 2003 $6,603,957 $624,031 $5,979,926 $11,334,107 52.761% 2004 $7,296,297 $689,524 $6,606,773 $12,717,343 51.951% 2005 $8,390,879 $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 $9,058,908 $18,888,149 47.961% 2009 1 $10,099,7691 $1,094,8151 $9,004,9541 $18,817,309 47.855% 2010 $10,110,190 $1,090,126 $9,020,064 $18,225,056 49.493% 2011 $10,158,367 $1,167,099 $8,991,268 $17,095,522 52.594% 2012 $10,246,597 $1,122,580 $9,124,017 $16,707,145 54.611% 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 ©EAU,. TRENDINFORMATION (Past io Years) ear", I' $8,000,000 t" $7,000,000 $6,000,000 { r $5,000,000 ! $4,000,000 $3,000,000 i $2,000,000 i f $1,000,000 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 ❑ General Tax Levy ❑ Levy Limit GENERAL TAX LEVY AND LEVIT LIMITS 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, 2008 and 2012) there were no levy limits in effect. Year enera Tax Levy Levy Limit 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 2010 $6,479,727 $6,479,727 2011 $6,523,288 $6,523,288 2012 $7,136,531 Not Applicable 18 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 4 2 CITY OF STILLWATER, MINNESOTA TREND INFORMATION (Past io Years) LOCAL GOVERNMENT AID & GENERAL TAX LEVY Year LGA (Unalloted) Total Certified LGA 2003 $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 1 $174,580 $837,994 $1,012,574 2011 1 $174,850 $999,053 $1,173,903 2012* $0 $174,580 $174,580 LGA (Received) - Amount of LGA the City actually received. LGA ( Unalloted) - Amount of LGA (of the Certified LGA amount) that was retained by the State. Total Certified LGA - 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 2012, 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 0-F STILLWATER, MINNESOTA Hl TRENDINFORMATION 3 1 YEARLY BOND RATINGS Each year the City must borrow money on the open market for various types of projects /acquisitions. The better the 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 Rating Year Ratinq 2009 Aa3 2004 Al 2008 Aa3 2003 Al 2007 Aa3 2002 Al 2006 Aa3 2001 Al 2005 Al 1999 A2 NOTE: The City has not issued bonds since 2009; therefore, a new bond rating has not been issued since then. * Moody's Investor Services 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 quality). Moody's applies numerical modifiers 1, 2, and 3 in each generic rating classification from Aa to Caa. The Modifier 1 indicates that the issue ranks in the higher end of its generic rating category; the modifier 2 indicates a mid- range ranking; and the modifier 3 indicates that the issue ranks in the lower end of its generic category. (Note: for ease of presentation, only a portion of the nine categories is presented). 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 Baa are subject to moderate credit risk. They are considered medium grade and as such may possess certain speculative characteristics. Ba Bonds that are rated Ba are judged to have speculative elements and are subject to substantial credit risk. B Bonds that are rated B are considered speculative and are subject to high credit risk. Caa Bonds that are rated Caa are judged to be of poor standing and are subject to very high credit risk. Ca 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. Source: Moody's Investor Services website (www.moody's.com) 20 �v l mZer� General Fund The General Fund serves as the chief operating fund for the City. It is used to account for all financial resources except those required to be accounted for in another fund. ,�E Brq UT�f, �� BEgUT C' GENERALFUND FUNDING SOURCES FOR 2012 OPERATING EXPENDITURES* Property Taxes 75% Franchise Fees 4% Licenses &Permits 4% Intergovernmental 5% Charges for Services 9% Fines & Forfeits 0 VMiscellaneous /a 2°% *Operating Expenditures excludes Capital Outlay and Transfers Out. 24 CITY OF STILLWATER, MINNESOTA GENERAL FUND 10 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 Safety Police Fire Inspections Civil Defense Public Safety Total Public Works Engineering Street Flood Control 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 Total Other Financing Sources (Uses) Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2011 2012 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 6,452,910 $ 7,066,172 $ 7,286,531 $ 220,359 425,617 426,000 426,000 - 405,567 376,200 387,350 11,150 11,395 15,000 10,000 (5,000) 656,924 459,374 487,374 28,000 1,012,961 930,775 929,429 (1,346) 120,772 100,100 100,100 - 143,900 137,500 144,000 6,500 $ 9,230,046 $ 9,511,121 $ 9,770,784 $ 259,663 $ 75,696 $ 79,256 $ 104,359 $ 25,103 31,922 4,230 41,159 36,929 236,612 245,267 260,100 14,833 354,700 395,592 435,943 40,351 490,331 458,833 458,690 (143) 271,990 277,116 277,253 137 148,416 175,523 309,141 133,618 250,028 262,440 269,951 7,511 707,872 719,732 836,734 117,002 $ 2,567,567 $ 2,617,989 $ 2,993,330 $ 375,341 $ 2,602,024 $ 2,657,785 $ 2,902,913 $ 245,128 1,061,205 1,455,675 1,352,010 (103,665) 235,754 246,889 251,540 4,651 4,193 2,911 5,941 3,030 $ 3,903,176 $ 4,363,260 $ 4,512,404 $ 149,144 $ 327,953 $ 350,837 $ 376,958 $ 26,121 934,403 831,577 998,505 166,928 113,128 - - - $ 1,375,484 $ 1,182,414 $ 1,375,463 $ 193,049 $ 7,846,227 $ 8,163,663 $ 8,881,197 $ 717,534 $ 1,383,819 $ 1,347,458 $ 889,587 $ (457,871) $ 185,704 $ 554,184 840,611 $ 286,427 38,971 25,000 10,000 (15,000) (18,300) (18,300) (26,250) (7,950) (1,008,130) (1,020,909) (1,020,909) - (652,322) (679,635) (678,039) 1,596 - (15,000) (15,000) - $ (1,454,077) $ (1,154,660) $ (889,587) $ 265,073 $ (70,258) $ 192,798 $ - $ (192,798) 3,546,101 3,475,843 3,668,641 192,798 $ 3,475,843 $ 3,668,641 $ 3,668,641 $ - 25 rITV (11: CTII I WATPR Rfi1MK1=QATA KEEVENUES Fund: General MISCELLANEOUS: Interest $ 45,803 $ 50,000 $ 50,000 $ 2011 Property Rental 2012 20,000 10,000 (10,000) Other 2010 67,500 ADOPTED 16,500 ADOPTED $ 143,900 $ $ Increase SUMMARY OF REVENUES 6,500 ACTUAL $ 9,230,046 $ BUDGET 9,770,784 $ BUDGET (Decrease) TAXES: Property Taxes $ 6,264,083 $ 6,943,172 $ 7,136,531 $ 193,359 All Other Taxes 188,827 123,000 150,000 27,000 Taxes Total $ 6,452,910 $ 7,066,172 $ 7,286,531 $ 220,359 FRANCHISE FEES: $ 425,617 $ 426,000 $ 426,000 $ - LICENSES & PERMITS: $ 405,567 $ 376,200 $ 387,350 $ 11,150 SPECIAL ASSESSMENTS: $ 11,395 $ 15,000 $ 10,000 $ (5,000) INTERGOVERNMENTAL: Federal: Miscellaneous $ 11,590 $ 2,500 $ 10,000 $ 7,500 State: Local Government Aid 174,580 - - _ Market Value Homestead Credit 624 - _ PERA State Aid 15,874 15,874 15,874 - Police State Aid 145,115 150,000 150,000 - Police Training Aid 9,125 8,500 9,000 500 Fire State Aid 104,411 100,000 100,000 - MSA 154,330 145,000 165,000 20,000 Local: Highway Aid 7,310 3,500 3,500 - Juvenile Officer Aid 32,605 34,000 34,000 - Miscellaneous 1,360 - - _ Intergovernmental Total $ 656,924 $ 459,374 $ 487,374 $ 28,000 CHARGES FOR SERVICE: Fire Contracts $ 323,320 $ 302,775 $ 301,279 $ (1,496) Admin Charges 102,000 102,000 102,000 - Other Fees 587,641 526,000 526,150 150 Charges for Services Total $ 1,012,961 $ 930,775 $ 929,429 $ (1,346) FINES & FORFEITS: $ 120,772 $ 100,100 $ 100,100 $ - MISCELLANEOUS: Interest $ 45,803 $ 50,000 $ 50,000 $ - Property Rental 2,262 20,000 10,000 (10,000) Other 95,835 67,500 84,000 16,500 Miscellaneous Total $ 143,900 $ 137,500 $ 144,000 $ 6,500 Total Revenues $ 9,230,046 $ 9,511,121 $ 9,770,784 $ 259,663 27 CITY OF STILLWATER, MINNESOTA MAYOR & CITY COUNCIL Fund: General Account Number: loo -4000 Department Description: 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. 2012 Staffing Level: Part -Time Benefitted 5.0 Number of Positions 2012 Budget Impacts: - Personnel costs include a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Contractual services consist of contracted lobbyist services. - Memberships & Dues include memberships to the League of MN Cities (LMC) and the Greater Area Chamber of Commerce. 28 SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Part Time Benefits Personnel Services Total SERVICES AND CHARGES: Contractual Other Total Services and Charges MISCELLANEOUS: Memberships & Dues Other Total Miscellaneous CAPITAL OUTLAY: Computer Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA 2010 ACTUAL MAYOR & CITY COUNCIL Fund: General Account Number: ioo -4000 2011 ADOPTED BUDGET $ 37,801 $ 37,800 $ 17,656 19,766 _ $ 55,457 $ 57,566 $ 2012 ADOPTED BUDGET $ Increase (Decrease) 37,800 $ - 19,826 60 57,626 $ 60 - $ 2,000 $ 18,000 $ 16,000 5,808 4,390 4,113 (277) 5,808 $ 6,390 $ 22,113 $ 15,723 $ 13,844 $ 13,300 $ 17,020 $ 3,720 587 2,000 2,000 - $ 14,431 $ 15,300 $ 19,020 $ 3,720 5,600 5,600 $ - $ - $ 5,600 $ 5,600 $ 75,696 $ 79,256 $ 104,359 $ 25,103 PLO] CITY OF STILLWATER, MINNESOTA ELECTIONS Fund: General Account Number: loo -4olo Department Description: 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 2012 Budget Impacts: - 2012 is an election year. - Services and Charges includes maintenance costs with Washington County on voting machines. 99 CITY OF STILLWATER, MINNESOTA ELECTIONS Fund: General Account Number: 100 -4010 31 2011 2012 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Salaries - Full Time $ 1,371 $ - $ $ _ Salaries - Part Time 20,934 - 27,100 27,100 Benefits 301 - 1,696 1,696 Personnel Services Total $ 22,606 $ - $ 28,796 $ 28,796 SUPPLIES: $ 599 $ - $ 750 $ 750 SERVICES AND CHARGES: $ 8,042 $ 4,230 $ 9,113 $ 4,883 MISCELLANEOUS: $ 675 $ - $ 2,500 $ 2,500 Total Expenditures $ 31,922 $ 4,230 $ 41,159 $ 36,929 31 CITY OF STILLWATER, MINNESOTA MIS SUPPORT SERVICES Fund: General Account Number: 100 -4020 Department Description: MIS Support Services provides the for purchasing, installation, and support of communication and information systems. 2012 Staffing Level: Full -Time Benefitted 1.8 FTE Full Time Equivalents) 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Maintenance Agreements include: Arc View Licenses, Quick Access, firewall, SALSA, postage machine, copiers, backup exec and diskkeeper for servers. 32 SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Full Time Benefits Personnel Services Total SUPPLIES: Software Other Total Suppplies 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 -A020 2010 $ 117,634 $ 28,654 _ $ 146,288 $ 2011 ADOPTED BUDGET 2012 ADOPTED BUDGET $ Increase (Decrease) 117,842 $ 118,646 $ 804 31,292 31,753 461 149,134 $ 150,399 $ 1,265 $ 488 $ 3,000 $ 1,500 $ (1,500) 2,253 4,300 4,300 - $ 2,741 $ 7,300 $ 5,800 $ (1,500) $ 5,660 $ 3,280 $ 4,500 $ 1,220 2,855 2,000 2,500 500 13,967 15,700 19,500 3,800 1,517 2,118 7,050 4,932 $ 23,999 $ 23,098 $ 33,550 $ 10,452 $ 63,584 $ 65,735 $ 70,351 $ 4,616 $ 63,584 $ 65,735 $ 70,351 $ 4,616 $ 236,612 $ 245,267 $ 260,100 $ 14,833 33 CITY OF STILLWATER, MINNESOTA FINANCE Fund: General Account Number: ioo -4o3o Department Description: The Finance Department accounts for the financial operations of the City and assists the City Treasurer with treasury operations and debt management. 2012 Staffing Level: Full -Time Benefitted 3.5 FTE Full Time E uivalents 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 19.26% increase in health insurance rates, and a 0% increase in dental insurance rates. - 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 postemployment benefits required for financial reporting by GASB #43 & #45. Actuarial services are also used for obtaining a refund through the Retiree Drug Subsidy program. 34 CITY OF STILLWATER, MINNESOTA CAPITAL OUTLAY: Computer Equipment $ - $ 20,000 $ 55,000 $ 35,000 Total Capital Outlay $ - $ 20,000 $ 55,000 $ 35,000 Total Expenditures $ 354,700 $ 395,592 $ 435,943 $ 40,351 R&I FINANCE Fund: General Account Number: 100-4030 2011 2012 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Salaries - Full Time $ 228,153 $ 234,193 $ 234,193 $ - Benefits 59,850 67,743 71,518 3,775 Personnel Services Total $ 288,003 $ 301,936 $ 305,711 $ 3,775 SUPPLIES: $ 2,368 $ 4,300 $ 3,650 $ (650) SERVICES AND CHARGES: Auditing $ 31,968 $ 33,000 $ 33,000 $ - Professional Services 5,136 6,000 6,000 - Maintenance Agreements 18,516 21,800 22,500 700 Other 6,663 7,406 7,932 526 Total Services and Charges $ 62,283 $ 68,206 $ 69,432 $ 1,226 MISCELLANEOUS: $ 2,046 $ 1,150 $ 2,150 $ 1,000 CAPITAL OUTLAY: Computer Equipment $ - $ 20,000 $ 55,000 $ 35,000 Total Capital Outlay $ - $ 20,000 $ 55,000 $ 35,000 Total Expenditures $ 354,700 $ 395,592 $ 435,943 $ 40,351 R&I 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. 2012 Staffing Level: Full -Time (Benefitted) 3.4 FTE (Full Time Equivalents) Part -Time (Non - Benefitted) 1.01 Number of Postions 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Printing and Publishing costs provide for 1 City newsletter during the year. - Assessing 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. 36 CITY OF STILLWATER, MINNESOTA SERVICES AND CHARGES: Assessing $ 82,921 ADMINISTRATION Fund: General Account Number: 100-4040 90,000 $ 2011 2012 $ 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: 10,000 Salaries - Full Time $ 275,190 $ 242,404 $ 226,941 $ (15,463) Salaries - Part Time 20,337 4,000 25,726 21,726 Benefits 63,042 67,633 65,753 (1,880) Personnel Services Total $ 358,569 $ 314,037 $ 318,420 $ 4,383 SUPPLIES: $ 3,396 $ 3,500 $ 4,500 $ 1,000 SERVICES AND CHARGES: Assessing $ 82,921 $ 90,000 $ 91,800 $ 1,800 Professional Services 7,185 15,000 10,000 (5,000) Printing and Publishing 4,709 7,000 5,000 (2,000) Other 26,541 24,546 24,720 174 Total Services and Charges $ 121,356 $ 136,546 $ 131,520 $ (5,026) MISCELLANEOUS: $ 2,493 $ 3,250 $ 2,250 (1,000) CAPITAL OUTLAY: Computer Equipment $ 4,517 $ 1,500 $ 2,000 $ 500 Total Capital Outlay $ 4,517 $ 1,500 $ 2,000 $ 500 Total Expenditures $ 490,331 $ 458,833 $ 458,690 $ (143) CITY OF STILLWATER, MINNESOTA LEGAL /CITYATORNEY Fund: General Account Number: 100 -4045 Department Description: The City has on retainer (paid through payroll with PERA benefits deducted) a law firm that provides prosecution services and legal counsel to the City Council and the City Staff for City related issues. 2012 Staffing Level: Part -Time Non- Benefitted 1.0 1 Number of Postions 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. Notes: - Legal /Prosecution 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 2010 SUMMARY OF EXPENDITURES ACTUAL PERSONNEL SERVICES: Retainer Benefits Personnel Services Total SUPPLIES: SERVICES AND CHARGES: Legal /Prosecution Other Total Services and Charges MISCELLANEOUS: Total Expenditures LEGAL /CITYATORNEY Fund: General Account Number: 100 -4045 2011 ADOPTED BUDGET 2012 ADOPTED $ Increase (Decrease) $ 98,882 $ 101,585 $ 101,585 $ - 24,527 28,852 29,152 300 $ 123,409 $ 130,437 $ 130,737 $ 300 $ 2,785 $ 1,500 $ 1,500 $ - $ 142,261 $ 137,000 $ 137,000 $ - 3,535 8,079 7,916 (163) $ 145,796 $ 145,079 $ 144,916 $ (163) $ - $ 100 $ 100 $ - $ 271,990 $ 277,116 $ 277,253 $ 137 1010] CITY OF STILLWA' PLANT /CITY HALL Fund: General Account Number: 100 -4050 MINNESOTA Department Description: Plant/City Hall provides boiler, HVAC, and general building maintenance including janitorial services for City Hall. 2012 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. 40 CITY OF STILLWATER, MINNESOTA 41 PLANT /CITY HALL Fund: General Account Number: loo- o o 2011 2012 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) SUPPLIES: $ 8,130 $ 12,800 $ 12,000 $ (800) SERVICES AND CHARGES: Contractual $ 22,251 $ 25,000 $ 25,000 $ - Other Professional Services 312 5,000 5,000 - Telephone 7,805 6,000 6,000 - Electricity 37,673 35,500 35,500 - Natural Gas 17,937 20,000 20,000 - Maintenance Agreements 19,717 17,500 15,000 (2,500) Other 20,881 17,623 15,061 (2,562) Total Services and Charges $ 126,576 $ 126,623 $ 121,561 $ (5,062) MISCELLANEOUS: $ 20 $ 700 $ 700 $ CAPITAL OUTLAY: Improvements $ 13,690 $ 35,400 $ 24,880 $ (10,520) Machinery & Equipment - - 150,000 150,000 Total Capital Outlay $ 13,690 $ 35,400 $ 174,880 $ 139,480 Total Expenditures $ 148,416 $ 175,523 $ 309,141 $ 133,618 41 CITY OF STILLWATER, MINNESOTA COMMUNITY DEVELOPMENT Fund: General Account Number: loo -4055 Department Description: The Community Development Department is responsible for zoning administration, comprehensive planning, historic preservation and economic development/redevelopment. The department assists the citizen committees of the Planning Commission, Parks Board, Heritage Preservation Commission, Downtown Parking Commission and Joint Stillwater Township City Planning Board in carrying out their responsibilities. 2012 Staffing Level: Full -Time Benefitted 2.5 FTE Full Time Equivalents) 2012 Budget 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 PERA . Beginning January 1, 2011, the employers contribution to the plan will increase from 7.0% to 7.25% for the Coordinated Plan. 42 SUMMARY OF EXPENDITURES PERSONNEL SERVICES: Salaries - Full Time Benefits Personnel Services Total SUPPLIES: SERVICES AND CHARGES: Other Professional Services Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Computer Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA COMMUNITY DEVELOPMENT Fund: General Account Number: loo -floss 2010 ACTUAL 2011 2012 ADOPTED ADOPTED BUDGET BUDGET 184,056 $ 185,609 $ 46,793 52,726 230,849 $ _ 238,335 $ 2,987 $ 5,400 $ 11,270 _ $ 11,270 $ $ 3,766 $ $ Increase (Decrease) 185,385 $ (224) 54,386 1,660 239,771 $ 1,436 5,600 $ 200 1,500 $ 8,000 $ 6,500 12,705 12,780 75 14,205 $ 20,780 $ 6,575 3,000 $ 3,800 $ 800 $ 1,156 $ 1,500 $ - $ (1,500) $ 1,156 $ 1,500 $ - $ (1,500) 7,511 $ 250,028 $ 262,440 $ 269,951 $ 43 CITY OF STILLWATER, MINNESOTA POLICE Fund: General Account Number: ioo -4o6o Department Description: The Police Department provides law enforcement services and education to its citizens. 2012 Staffing Level: Full -Time (Benefitted) 23.75 FTE (Full Time Equivalents) Part -Time (Non - Benefitted) 2.001 Number of Positions 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Personnel costs include an additional FTE from 2011. This position is a reinstatement of a position that was eliminated during the budget reductions of 2009. - Terminal Access Charge - include costs for access to the County and State record system. - 800 Mhz Radio Service - 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. 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 Radio Service Fee Terminal Access Charges General Insurance Vehicle Repair Charges Maintenance Agreements Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Computer Equipment Automotive Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA 2010 ACTUAL 2011 ADOPTED BUDGET POLICE Fund: General Account Number: loo -4o6o 2012 ADOPTED $ Increase BUDGET (Decrease) $ 1,634,689 $ 1,579,653 $ 1,579,653 $ - 87,582 95,000 95,000 - 25,163 40,000 40,000 - 464,559 595,844 655,704 59,860 $ 2,211,993 $ 2,310,497 $ 2,370,357 $ 59,860 $ 68,096 $ 70,000 $ 80,000 $ 10,000 25,248 31,000 34,000 3,000 $ 93,344 $ 101,000 $ 114,000 $ 13,000 $ 19,583 $ 15,000 $ 15,000 $ - 23,770 26,500 26,500 - 82,957 86,438 89,876 3,438 49,941 22,000 22,000 - 3,290 6,000 6,000 - 36,598 51,500 51,500 - $ 216,139 $ 207,438 $ 210,876 $ 3,438 $ 8,865 $ 13,950 $ 13,000 $ (950) $ 1,156 $ 24,900 $ 61,680 $ 36,780 70,527 - 133,000 133,000 $ 71,683 $ 24,900 $ 194,680 $ 169,780 $ 2,602,024 $ 2,657,785 $ 2,902,913 $ 245,128 45 CITY OF STILLWATER, MINNESOTA FIB Fund: General Account Number: ioo -4o7o 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. 2012 Staffina Level: Full -Time (Benefitted) I 9.25IFTE (Full Time Equivalents) J Part -Time (Non - Benefitted) 1 33.001 Number of Postions 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Personnel costs include an additional FTE from 2011. This position is a reinstatement of a position that was eliminated during the budget reductions of 2009. - 800 Mhz Radio Service - 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 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. 46 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 Radio Service Fee General Insurance Vehicle Repair Charges Other Total Services and Charges MISCELLANEOUS: CAPITAL OUTLAY: Improvements Machinery & Equipment Computer Equipment Automotive Equipment Total Capital Outlay Total Expenditures CITY OF STILLWATER, MINNESOTA 2010 ACTUAL 2011 ADOPTED BUDGET FIRE Fund: General Account Number: 100 -A070 2012 ADOPTED $ Increase (Decrease) $ 561,009 $ 534,291 $ 588,668 $ 54,377 43,577 48,987 49,028 41 101,690 110,000 110,000 - 170,324 207,951 246,599 38,648 $ 876,600 $ 901,229 $ 994,295 $ 93,066 $ 10,657 $ 17,000 $ 17,000 $ - 13,644 16,850 17,850 1,000 $ 24,301 $ 33,850 $ 34,850 $ 1,000 $ 16,117 $ 16,800 $ 18,250 $ 1,450 60,341 52,497 64,715 12,218 33,663 20,000 20,000 - 22,369 25,600 50,950 25,350 $ 132,490 $ 114,897 $ 153,915 $ 39,018 $ 4,660 $ 4,150 $ 4,350 $ 200 $ - $ 7,842 $ 12,200 $ 4,358 16,598 15,157 14,000 (1,157) 2,976 4,700 13,400 8,700 3,580 373,850 125,000 (248,850) $ 23,154 $ 401,549 $ 164,600 $ (236,949) $ 1,061,205 $ 1,455,675 $ 1,352,010 $ (103,665) 47 CITY OF STILLWATER, MINNESOTA INSPECTIONS Fund: General Account Number: loo -4o8o Department Description: The Inspections Department provides technical assistance, plan review services and plumbing, mechanical and building inspections services for code compliance. 2012 Staffing Level: Full -Time Benefitted 2.5 FTE Full Time E uivalents 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. 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- Building Permit Surcharge in the revenue section of the General Fund. 1114 SUMMARY OF EXPENDITURES PERSONNEL SERVICES: CITY OF STILLWATER, MINNESOTA 2010 ACTUAL 2011 ADOPTED BUDGET INSPECTIONS Fund: General Account Number: 100-4o8o 2012 ADOPTED $ Increase BUDGET (Decrease; Salaries - Full Time $ 156,991 $ 158,640 $ 159,144 $ 504 Overtime - Full -Time 3,874 - - - Benefits 46,521 48,811 49,365 554 Personnel Services Total $ 207,386 $ 207,451 $ 208,509 $ 1,058 SUPPLIES: $ 4,389 $ 6,000 $ 7,200 $ 1,200 SERVICES AND CHARGES: Building Permit Surcharge $ 12,963 $ 15,000 $ 15,000 $ - Other 8,466 17,588 15,481 (2,107) Total Services and Charges $ 21,429 $ 32,588 $ 30,481 $ (2,107) MISCELLANEOUS: $ 237 $ 850 $ 850 $ - CAPITAL OUTLAY: Machinery & Equipment $ - $ - $ 4,500 $ 4,500 Computer Equipment 2,313 - - - Total Capital Outlay $ 2,313 $ - $ 4,500 $ 4,500 Total Expenditures $ 235,754 $ 246,889 $ 251,540 $ 4,651 49 CITY OF STILLWATER, MINNESOTA CIVIL DEFENSE Fund: General Account Number: ioo ,�� BEAVJ F Department Description: The Civil Defense Department provides for the maintenance of the City's civil defense warning system. Notes: - The City maintains 5 civil defense sirens located at: (1) 1419 4th Street; (2) 116 Willard Street W; (3) 900 Nightengale Blvd; (4) 2001 Willard Street W; and (5) 13300 McKusick Rd Ln N. AN CITY OF STILLWATER, MINNESOTA 51 CIVIL DEFENSE Fund: General Account Number: loo-4o85 2011 2012 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) SUPPLIES: $ - $ 100 $ - $ (100) SERVICES AND CHARGES: $ 2,658 $ 2,261 $ 3,958 $ 1,697 MISCELLANEOUS: $ 1,535 $ 550 $ 1,983 $ 1,433 Total Expenditures $ 4,193 $ 2,911 $ 5,941 $ 3,030 51 CITY OF STILLWATER, MINNESOTA ENGINEERING Fund: General Account Number: loo -4ogo 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. 2012 Staffing Level: Full -Time Benefitted 3.35 FTE Full Time E uivalents 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - 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. 52 CITY OF STILLWATER, MINNESOTA 7, at, 2010 SUMMARY OF EXPENDITURES ACTUAL PERSONNEL SERVICES: Salaries - Full Time Overtime - Full -Time 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: Improvements Computer Equipment Total Capital Outlay Total Expenditures $ 234,356 $ 2,772 66,338 _ $ 303,466 $ $ 2,382 $ 3,570 614 _ $ 6,566 $ 2011 ADOPTED BUDGET ENGINEERING Fund: General Account Number: loo -4090 2012 ADOPTED BUDGET $ Increase (Decrease) 237,667 $ 237,164 $ (503) 2,000 2,000 - 76,243 79,202 2,959 315,910 $ 318,366 $ 2,456 2,500 $ 3,600 $ 1,100 3,800 3,800 - 1,800 1,400 (400) 8,100 $ 8,800 $ 700 $ - $ 800 $ - $ (800) 12,537 17,977 17,142 (835) 5,035 4,650 5,400 750 $ 17,572 $ 23,427 $ 22,542 $ (885) $ 349 $ 1,000 $ 1,050 $ 50 $ - $ - $ 25,000 $ 25,000 2,400 1,200 (1,200) $ - $ 2,400 $ 26,200 $ 23,800 $ 327,953 $ 350,837 $ 376,958 $ 26,121 53 CITY OF STILLWATER, MINNESOTA STREETS Fund: General Account Number: ioo -4ioo Department Description: The Streets Department provides ongoing maintenance of the City's street system and City vehicles and equipment. 2012 Staffing Level: Full -Time Benefitted 6.751 FTE Full Time E uivalents 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% 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. - Seal coating /patching 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 years. With the City having 80 miles of streets, an estimated 11.5 miles of streets needs to be seal coated every year. 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 year. NOTE: For 2011 & 2012 this program has been 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 Agreements includes the following agreements: HVAC maintenance, printer maintenance, fire extinguisher maintenance and fleet maintenance software (Cartegraph ). NOTE: On January 17, 2012, the City Council authorized the reallocation of $24,000 (4 positions) of part-time salaries and related benefits from the Parks Fund. This reallocation will be reflected as budget amendment in 2012. Funding of this reallocation will appear as a transfer of funds from the Parks Fund to the General Fund. 54 CITY OF STILLWATER, MINNESOTA SUPPLIES: Asphalt $ 25,868 $ STREETS Fund: General Account Number: loo- loo $ 35,000 2011 2012 Sand & Salt 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Automotive Fuel 50,048 Salaries - Full Time $ 342,677 $ 339,821 $ 339,348 $ (473) Overtime - Full -Time 14,255 8,000 8,000 - Salaries - Part Time - - _ _ Benefits 108,464 130,956 136,200 5,244 Personnel Services Total $ 465,396 $ 478,777 $ 483,548 $ 4,771 SUPPLIES: Asphalt $ 25,868 $ 35,000 $ 35,000 $ - Sand & Salt 56,431 64,000 70,000 6,000 Automotive Fuel 50,048 50,000 75,000 25,000 Equipment Repair Supplies 30,738 30,000 30,000 - Other 19,651 34,000 30,300 (3,700) Total Supplies $ 182,736 $ 213,000 $ 240,300 $ 27,300 SERVICES AND CHARGES: Contractual $ 28,469 $ 20,000 $ 20,000 $ - Generallnsurance 50,476 50,750 46,257 (4,493) Maintenance Agreements 6,749 7,250 7,000 (250) Seal Coating /Patching 107,912 - _ - Other 41,128 53,300 51,300 (2,000) Total Services and Charges $ 234,734 $ 131,300 $ 124,557 $ (6,743) MISCELLANEOUS: $ 6,959 $ 7,300 $ 7,300 $ - CAPITAL OUTLAY: Machinery & Equipment $ 41,109 $ - $ 37,600 $ 37,600 Computer Equipment 3,469 1,200 7,200 Automotive Equipment - - 98,000 98,000 Total Capital Outlay $ 44,578 $ 1,200 $ 142,800 $ 135,600 Total Expenditures $ 934,403 $ 831,577 $ 998,505 $ 160,928 $ 1,047,532 55 CITY OF STILLWATER, MINNESOTA UNALLOCATED Fund: General Account Number: io Department Description: Unallocated expenditures are those expenditures that can not be specifically assigned to a certain department. 2012 Budget Impacts: - Retiree Hospital /Medical benefits include a 0% increase in health insurance rates. - The Fire Relief Association line item expenditure is the disbursement of the State of Minnesota's minimum support rate to the Stillwater Fire Relief Association's pension plan. Support rates are established by the State Legislature. Receipt of these funds from the State are recorded as Intergovernmental -Fire State Aid in the revenue section of the General Fund. Notes: - Retiree Hospital /Medical benefits are post health care benefits available to employees who were hired prior to December 31, 1988, are eligible for PERA retirement benefits, and been emplyed with the City fo 10 years or more. At the end of 2011, there were 46 participants and 10 employees currently employed and eligible for the benefit. 619 CITY OF STILLWATER, MINNESOTA UNALLOCATED Fund: General AccountNumher- inn -Aran 57 2011 2012 2010 ADOPTED ADOPTED $ Increase SUMMARY OF EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) PERSONNEL SERVICES: Retiree Hospital /Medical $ 482,239 $ 596,382 $ 641,778 $ 45,396 SERVICES AND CHARGES: Community Thread (aka CVS) $ - $ - $ 10,000 $ 10,000 Youth Service Bureau - - 15,275 15,275 Fire Relief Association 100,411 100,000 100,000 - Other 473 350 4,350 4,000 Total Services and Charges $ 100,884 $ 100,350 $ 129,625 $ 29,275 MISCELLANEOUS: Contingency $ 1,097 $ 1,000 $ 1,000 $ - Clean Up Services /Nuisance Properties 19,775 - 25,000 25,000 Other 103,877 22,000 39,331 17,331 $ 124,749 $ 23,000 $ 65,331 $ 42,331 Total Expenditures $ 707,872 $ 719,732 $ 836,734 $ 117,002 57 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. aC BEAUT�t .�'� 3EAUT�r il CITY OF STILLITATER, 1111AAESIDTA SPEciALREVENUEFUNDS FUNDING SOURCES FOR 2012 OPERATING EXPENDITURES* Intergovernmental 1% Charges for Services 43% Miscellaneous Transfer -In General 3% Fund 53% Personnel Services 42% 2012 OPERATING EXPENDITURES* BY TYPE Supplies 11% 3% "Operating Expenditures excludes Capital Outlay and Transfers Out. .l E!rvices and Charges 44% CITY nF ST11 1 WATFR MINNF-RnTA P R SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Licenses & Permits Intergovernmental Charges for Services Interest Earnings Miscellaneous Revenue Totals EXPENDITURES: Public Safety DARE Public Works Washington County Recycling Grant Culture & Recreation Special Events St Croix Valley Recreation Center Library Parks Downtown Beautification Culture & Recreation Total Total Expenditures Revenues over (under) Expenditures OTHER FINANCING SOURCES (USES): Transfers in: General Fund Capital Outlay Bond Proceeds Other Transfers (out): Debt Service Sale of Property Capital Lease Proceeds Other Financing Sources (Uses) Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 $ 1,895 $ 500 $ 1,800 $ 1,300 $ 22,371 $ 36,050 $ 34,192 $ (1,858) $ 71,518 $ 98,300 1,647,713 1,319,949 1,102, 000 1,185, 509 718,293 882,935 $ 3,539,524 $ 3,486,693 $ 3,563,790 $ 3,523,243 $ (1,840,064) $ (1,765,683) $ 96,250 $ (2,050) 1,644,064 324,115 1,176,681 (8,828) 978,739 95,804 15,000 15,000 $ 3,910,734 $ 409,041 $ 3,946,726 $ 408,483 $ (2,393,874) $ (628,191) $ 1,678,752 $ 1,733,844 $ 1,740,198 $ 100,540 251,517 268,900 716,298 114,600 4,656 - - (274,239) 2011 2012 133,807 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 2,376,552 $ 348,947 $ 986 $ 1,000 $ 1,000 $ 34,192 34,050 34,192 142 1,597,006 1,605,800 1,420,650 (185,150) 15,948 32,000 16,200 (15,800) 75,594 84,710 80,810 (3,900) $ 1,723,726 $ 1,757,560 $ 1,552,852 $ (204,708) $ 1,895 $ 500 $ 1,800 $ 1,300 $ 22,371 $ 36,050 $ 34,192 $ (1,858) $ 71,518 $ 98,300 1,647,713 1,319,949 1,102, 000 1,185, 509 718,293 882,935 $ 3,539,524 $ 3,486,693 $ 3,563,790 $ 3,523,243 $ (1,840,064) $ (1,765,683) $ 96,250 $ (2,050) 1,644,064 324,115 1,176,681 (8,828) 978,739 95,804 15,000 15,000 $ 3,910,734 $ 409,041 $ 3,946,726 $ 408,483 $ (2,393,874) $ (628,191) $ 1,678,752 $ 1,733,844 $ 1,740,198 $ 100,540 251,517 268,900 716,298 114,600 4,656 - - (274,239) (213,751) (79,944) 133,807 28,400 - - - $ 1,689,086 $ 1,788,993 $ 2,376,552 $ 348,947 $ (150,978) $ 23,310 $ (17,322) $ (40,632) 1,713,762 1,562,784 1,586,094 23,310 $ 1,562,784 $ 1,586,094 $ 1,568,772 $ (17,322) 61 CITY OF STILLWATER, MINNESOTA SPECIAL EVENTS Fund Type: Special Revenue Fund Fund Number: 200 C) Fund Description: The Special Events Fund accounts for special events held within the City. Funding: Primarily financed with donations, reimbursement of services and property taxes from the General Tax Levy. 2011 Budget Impacts: - Ticket Sales - In order to defray costs associated with the Lumberjack Days Event, an access ticket charge was implemented with the 2008 -2012 Lumberjack Days Agreement (refer to section 5.h. of the agreement for further details) that provides the City with 35% of the gross ticket sales. This agreement was approved by the City Council on December 3, 2007 by resolution ( #2007 -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 Reach 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. M. CITY OF STILLWATER, MINNESOTA SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Charges for Services: Ticket Sales (LJD) Miscellaneous: Donations Refunds & Reimbursements Interest Earnings Miscellaneous Total Revenue Total EXPENDITURES: Services and Charges: Policing /Fire Services Other Services and Charges Total Miscellaneous: Fireworks Contributions Other Miscellaneous Total Total Expenditures Revenues over (under) expenditures OTHER FINANCING SOURCES: Transfer In: General Fund Net decrease in fund balance Fund Balance -Jan 1 Fund Balance - Dec 31 Total Revenues SPECIAL EVENTS Fund Type: Special Revenue Fund Fund Number: 200 2011 2012 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 35,207 $ 45,000 $ 35,000 $ (10,000) $ 13,000 $ 15,000 $ 15,000 $ - 20,000 20,000 20,000 - 57 - - - $ 33,057 $ 35,000 $ 35,000 $ - $ 68,264 $ 80,000 $ 70,000 $ (10,000) $ 17,982 $ 40,000 $ 40,000 $ - 250 500 250 (250) $ 18,232 $ 40,500 $ 40,250 $ (250) $ 53,000 $ 55,000 $ 55,000 $ - - 1,800 - (1,800) 286 1,000 1,000 - $ 53,286 $ 57,800 $ 56,000 $ (1,800) $ 71,518 $ 98,300 $ 96,250 $ (2,050) $ (3,254) $ (18,300) $ (26,250) $ (7,950) $ 18,300 $ 18,300 $ 26,250 $ 7,950 $ 15,046 $ - $ - $ - 22,407 37,453 37,453 - $ 37,453 $ 37,453 $ 37,453 $ - $ 86,564 $ 98,300 $ 96,250 63 CITY OF STILLWATER, MINNESOTA ST CROIX VALLEY REC CENTER Fund Type: Special Revenue Fund Fund Number: 202 C) 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. Funding: Financing is provided by the fees generated by the facility. Capital Outlay purchases are financed with General Obligation Capital Outlay Bonds. 2012 Budget Impacts: - On May 24, 2010 the Park and Recreation Board approved an increase in rates for the 2010/2011. These rates have been extended into the 2011/2012 season. The rates reflect a $5 /1-lour increase in ice rental times and a $10 /Hour increase in field house rentals. The rates for the 2011/2012 season are as follows: Hourly Ra #e1 a Prime Tw. Non Pr i4 Surnme Rec Center Ice $175 /hour $150 /hour $150 1hour Lily Lake Ice $155 /hour $150 /hour $150 /hour Full Field Hours $250 /hour $190 /hour $190 /hour Half Field House $150 /hour $135 /hour $135 /hour - 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 ten 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 Valley Recreation Center's fund balance which was used to pay for the advancement of funds needed for the 10 year commitment of the St. Croix Soccer Club. 64 CITY OF STILLWATER, MINNESOTA St Croix Valley Fieldhouse Supplies Services & Charges Miscellaneous Capital Outlay Fieldhouse Total Lily Lake Ice Arena Supplies Services & Charges Miscellaneous Capital Outlay Lily Lake Ice Arena 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 - Jan 1 Fund Balance - Dec 31 Total Revenues $ 8,349 ST CCROIX VALLEY REC CENTER Fund Type: Special Revenue Fund Fund Number: 202 8,400 $ 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: 2,516 Charges for Service $ 1,486,504 $ 1,483,500 $ 1,290,500 $ (193,000) Interest Earnings 10,472 24,000 11,000 (13,000) Commitment -St Croix Soccer Club 18,310 18,310 18,310 - Miscellaneous 338 - - _ Revenue Total $ 1,515,624 $ 1,525,810 $ 1,319,810 $ (206,000) EXPENDITURES: $ 15,141 $ St Croix Valley Rec Center $ 11,700 $ Supplies $ 133,671 $ 133,500 $ 103,500 $ (30,000) Services & Charges 666,571 663,338 640,831 (22,507) Miscellaneous 16,755 17,500 17,500 - Capital Outlay 18,942 26,200 112,198 85,998 Rec Center Total $ 835,939 $ 840,538 $ 874,029 $ 33,491 St Croix Valley Fieldhouse Supplies Services & Charges Miscellaneous Capital Outlay Fieldhouse Total Lily Lake Ice Arena Supplies Services & Charges Miscellaneous Capital Outlay Lily Lake Ice Arena 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 - Jan 1 Fund Balance - Dec 31 Total Revenues $ 8,349 $ 8,400 $ 8,400 $ - 202,517 275,955 264,196 (11,759) 2,516 3,200 3,200 399,828 - - _ $ 613,210 $ 287,555 $ 275,796 $ (11,759) $ 15,141 $ 10,700 $ 11,700 $ 1,000 183,210 180,506 189,889 9,383 213 650 650 - - - 292,000 292,000 $ 198,564 $ 191,856 $ 494,239 $ 302,383 $ 1,647,713 $ 1,319,949 $ 1,644,064 $ 324,115 $ (132,089) $ 205,861 $ (324,254) $ (530,115) 235,670 26,200 404,198 377,998 (274,239) (213,751) (79,944) 133,807 $ (38,569) $ (187,551) $ 324,254 $ 511,805 $ (170,658) $ 18,310 $ - $ (18,310) 1,178,672 1,008,014 1,026,324 18,310 $ 1,008,014 $ 1,026,324 $ 1,026,324 $ - $ 1,751,294 $ 1,552,010 $ 1,724,008 65 CITY OF STILLWATER, MINNESOTA LIBRARY Fund Type: Special Revenue Fund Fund Number: 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. 2012 Staffing Level: Full Time 4.00 FTE (Full Time Equivalents) Part Time (Benefited) 6.70 FTE (Full Time Equivalents) Part Time (Non - Benefited) 2.60 FTE (Full Time Equivalents) Fundinq: Primarily funded by property taxes from the General Tax Levy. Capital Outlay purchases are financed primarily with General Obligation Capital Outlay Bonds. 2012 Budget Impacts: - Personne /costs include 0% COLA on wages, a 0% increase in health insurance premiums and a 0% increase in dental insurance rates. - Net Decrease in Fund Balance will be funded with the Library fund's available Fund Balance. W. CITY OF STILLWATER, MINNESOTA LIBRARY C) Fund Type: Special Revenue Fund Fund Number: 2RO SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Charges for Services: Meeting Room Rental Fees Other Charges for Services Total Miscellaneous: Interest Earnings Processing Fees Registration Other Miscellaneous Total Revenue Total EXPENDITURES: Operations: Personnel Services Supplies Services & Charges Miscellaneous Capital Outlay Operations Total Plant Personnel Services Supplies Services & Charges Miscellaneous Capital Outlay Plant Total Total Expenditures Revenues over (under) expenditures OTHER FINANCING SOURCES: Transfer In: General Fund Library Fund Raiser Capital Outlay Bond Proceeds Other Financing Sources Total Net increase (decrease) in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 $ 732,795 $ 2011 $ 2012 $ 20,311 $ 57,747 $ 2010 32,225 $ ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) 2,064 2,200 2,025 (175) $ 49,723 $ 53,000 $ 69,750 $ 16,750 $ 7,387 7_962,323 8,300 $ 8,000 $ (300) $ 57,110 $ 61,300 $ 77,750 $ 16,450 $ 971 $ 1,000 $ 1,200 $ 200 7,231 9,000 10,500 1,500 - 8,000 4,000 (4,000) 15,611 13,900 13,000 (900) $ 23,813 $ 31,900 $ 28,700 $ (3,200) $ 80,923 $ 13,250 $ 93,200 $ 106,450 $ 732,795 $ 745,387 $ 765,698 $ 20,311 $ 57,747 $ 89,476 32,225 $ 98,340 98,941 601 59,707 58,196 59,231 1,035 2,064 2,200 2,025 (175) - 58,200 25,500 (32,700) $ 884,042 7_962,323 $ 951,395 $ (10,928) $ 106,599 $ 108,045 $ 100,578 $ (7,467) 7,695 9,150 10,825 1,675 101,746 101,791 104,583 2,792 1,918 1,000 1,000 - - 3,200 8,300 5,100 $ 217,958 $ 223,186 $ 225,286 $ 2,100 $ 1,102,000 $ 1,185,509 $ 1,176,681 $ (8,828) $ (1,021,077) $ (1,092,309) $ (1,070,231) $ 22,078 $ 1,008,130 $ 1,020,909 $ 1,020,909 $ - 4,656 - - _ - 61,400 33,800 (27,600) $ 1,012,786 $ 1,082,309 $ 1,054,709 $ (27,600) $ (8,291) $ (10,000) $ (15,522) $ (5,522) 66,038 57,747 47,747 (10,000) $ 57,747 $ 47,747 $ 32,225 $ (15,522) 67 CITY OF STILLWATER, MINNESOTA PARKS Fund Type: Special Revenue Fund Fund Number: 240 Fund Description: The Parks Department/Fund provides for maintenance of City owned parks. .dui.d atarnng Lever. Full Time 6.25 FTE (Full Time Equivalents) Part Time (Seasonal) 8.00 1 Number of Positions Funding: Primarily funded by property taxes from the General Tax Levy. Capital Outlay purchases are financed with General Obligation Capital Outlay Bonds. 2012 Budaet Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Other Professional Services include tree inspector services of $2,400. - Tree Removal is for the removal of trees due to Dutch Elm & Oak Wilt diseases. [:13 CITY OF STILLWATER, MINNESOTA EXPENDITURES: PARKS Fund Type: Special Revenue Fund Fund Number: 24o 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Salaries - Full Time $ Licenses and Permits $ 986 $ 1,000 $ 1,000 $ - Charges for Service 18,185 16,000 17,400 1,400 Interest Earnings 3,081 5,000 4,000 Miscellaneous 1,104 - - - Revenue Total $ 23,356 $ 22,000 $ 22,400 $ 1,400 EXPENDITURES: Personnel Services: Salaries - Full Time $ 353,041 $ 364,962 $ 311,942 $ (53,020) Overtime - Full Time 11,503 6,000 6,000 Salaries - Part Time - - 48,000 48,000 Benefits 119,812 141,848 127,234 (14,614) Personnel Services Total $ 484,356 $ 512,810 $ 493,176 $ (19,634) Supplies: Automotive Fuel $ 18,054 $ 17,000 $ 22,000 $ 5,000 Other 52,658 46,900 62,900 16,000 Supplies Total $ 70,712 $ 63,900 $ 84,900 $ 21,000 Services and Charges: Contractual Services $ 2,770 $ 2,250 $ 2,250 $ - Tree Removal 4,825 7,000 5,500 (1,500) Other Professional Services 4,740 4,000 5,000 1,000 General Insurance 59,410 60,575 58,013 (2,562) Other 43,436 45,600 40,600 (5,000) Total Service and Charges $ 115,181 $ 119,425 $ 111,363 $ (8,062) Miscellaneous: $ 3,798 $ 5,500 $ 11,000 $ 5,500 Capital Outlay: Improvements $ 6,050 $ 112,800 $ 275,000 $ 162,200 Machinery & Equipment 38,196 68,500 - (68,500) Computer Equipment - - 3,300 3,300 Capital Outlay Total $ 44,246 $ 181,300 $ 278,300 $ 97,000 Total Expenditures $ 718,293 $ 882,935 $ 978,739 $ 103,866 Revenues over (under) expenditures $ (694,937) $ (860,935) $ (956,339) $ (102,466) OTHER FINANCING SOURCES: Transfer In: General Fund $ 652,322 $ 679,635 $ 678,039 $ (1,596) Capital Outlay Bond Proceeds 15,847 181,300 278,300 97,000 Sale of Property 28,400 - Other Financing Sources Total $ 696,569 $ 860,935 $ 956,339 $ 95,404 Net increase (decrease) in fund balance $ 1,632 $ - $ - $ Fund Balance - Jan 1 291,136 292,768 292,768 Fund Balance - Dec 31 $ 292,768 $ 292,768 $ 292,768 $ - •• CITY OF STILLWATER, MINNESOTA DOWNTOWN BEAUTIFICATION Fund Type: Special Revenue Fund Fund Number: 251 (D Fund Description: The Downtown Beautification fund was established by Resolution 2011 -07 (dated January 4, 2011) and it accounts for funds related to the downtown beautification. Funding: Funded primarily with property taxes from the General Tax Levy. Donations to the fund are anticipated. 2012 Budget Impacts: - all expenditures of the fund are subject to approval by the City Council in its annual 'Downtown Beautification Work Program ". As of this writing the work program for 2011 has not yet been established. - On December 6, 2011, the City Council approved the following 2012 work plan for the Downtown Beautification Fund: Spring /Summer plantings for pots Banners Kiosks Holiday Decoration New pots, benches, planters, sidewalk cleaning, paint for gazebo Total 70 $ 3,500.00 1,000.00 2,000.00 3,000.00 5,500.00 $ 15,000.00 CITY OF STILLWATER, MINNESOTA DOWNTOWN BEAUTIFICATION a) Fund Type: Special Revenue Fund Fund Number: 251 SUMMARY OF REVENUES AND EXPENDITURES EXPENDITURES: Supplies OTHER FINANCING SOURCES: Transfer In: General Fund Net decrease in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2011 2010 ADOPTED ACTUAL BUDGET 2012 ADOPTED $ Increase BUDGET (Decrease) $ 15,000 $ 15,000 $ - $ 15,000 $ 15,000 $ - $ - $ 15,000 $ - $ (15,000) - 15,000 15,000 $ - $ 15,000 $ 15,000 $ - 71 CITY OF STILLWATER, MINNESOTA WASHINGTON CO RECYCLING GRANT Fund Type: Special Revenue Fund Fund Number: 255 a) 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. Funding: Funded exclusively with grant funds received from Washington County and interest earned on investments (the fund's prorated share). 2012 Budget Impacts: - Services and Charges costs include education services and materials. 72 CITY OF STILLWATER, MINNESOTA WASHINGTON CO RECYCLING GRANT Fund Type: Special Revenue Fund Fund Number: 255 73 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Intergovernmental $ 34,192 $ 34,050 $ 34,192 $ 142 Interest 1,248 2,000 (2,000) Revenue Total $ 35,440 $ 36,050 $ 34,192 $ (1,858) EXPENDITURES: Services and Charges: $ 20,929 $ 10,500 $ 22,692 $ 12,192 Miscellaneous: $ 1,442 $ 25,550 $ 11,500 $ (14,050) Expenditure Total $ 22,371 $ 36,050 $ 34,192 $ (1,858) Net increase in fund balance $ 13,069 $ - $ - $ _ Fund Balance - Jan 1 140,491 153,560 153,560 - Fund Balance - Dec 31 $ 153,560 $ 153,560 $ 153,560 $ - 73 CITY OF STILLWATER, MINNESOTA DA Fund Type: Special Revenue Fund Fund Number: 263 0 Fund Description: The DARE Fund accounts all receipts and expenditures associated with the drug awareness program. Pursuant to State mandate, funds received for this program are used exclusively for this program. Fundinq: Funding is provided by donations and /or a contribution from the General Fund (when needed). 74 CITY OF STILLWATER, MINNESOTA DARE C) Fund Type: Special Revenue Fund Fund Number: 26.q SUMMARY OF REVENUES 2010 AND EXPENDITURES ACTUAL REVENUES: Miscellaneous: Donations Interest Revenue Total EXPENDITURES: Supplies: Revenues Over (Under) Expenditures Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2011 2012 ADOPTED ADOPTED $ Increase BUDGET BUDGET (Decrease) $ - $ 500 $ - $ (500) 119 - _ $ 119 $ 500 $ - $ (500) $ 1,895 $ 500 $ 1,800 $ 1,300 $ (1,776) $ - $ (1,800) $ (1,800) $ (1,776) $ - $ (1,800) $ (1,800) 15,018 13,242 13,242 - $ 13,242 $ 13,242 $ 11,442 $ (1,800) W 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. ra��- r•���n�•:mr����mnr��•: r a KBE ...E a� F` DEBT SERVICEFUNDS i G FUNDING SOURCES FOR 2012 EXPENDITURES Other Special Assessments - �PropertyTaxes 2% 1 �� -- 83% v r Tax Increment) Financing St Croix Va 10% Recreation Center 2% 2012 EXPENDITURES BY TYPE Principal 78% Interest 22°% Other 0% 78 .aE. BEAUS/ t BEAU ?a, .mac 5 g3h'� SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Property Taxes 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): 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 - Jan 1 Fund Balance - Dec 31 Revenue Totals (Info only) Expenditure Totals (Info only) 2011 2012 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 3,234,962 $ 3,215,195 $ 3,110,066 $ (105,129) 101,298 85,000 80,000 (5,000) 283 - - _ 61,068 - - 46,121 11,927 11,927 - $ 3,443,732 $ 3,312,122 $ 3,201,993 $ (110,129) $ 3,489,247 $ 3,609,247 $ 2,990,238 1,251,356 944,149 818,862 6,344 6,000 5,560 12,459 - 2,400 $ 4,759,406 $ 4,559,396 $ 3,817,060 $ (619,009) (125,287) (440) 2,400 $ (742,336) $ (1,315,674) $ (1,247,274) $ (615,067) $ 632,207 $ (4,025,000) $ - $ $ _ (1,105,761) 213,751 79,944 (133,807) 753,042 784,078 397,310 (386,768) 4,714,115 140,000 85,000 (55,000) (4,519,115) - (85,000) - $ (4,182,719) $ 1,137,829 $ 1,772,999 $ 1,295,745 $ (5,498,393) $ (109,445) $ 1,157,932 $ 1,267,377 11,484,916 5,986,523 5,877,078 (109,445) $ 5,986,523 $ 5,877,078 $ 7,035,010 $ 1,157,932 79 CITY OF STILLWATER, MINNESOTA GO CAPITAL OUTLAY BONDS Fund Type: Debt Service Fund Fund Numbers: 3oo - 329 Funds Description: These funds record the receipt of property taxes generated by the debt service levy and the payment 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 taxes are the main funding source. Funding: Primarily financed with property taxes through an annual debt service levy. 2012 Budget Impacts: Fund Number Bond Issue Purpose Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 Levy Amount for Payable 2012 Existing Debt: 304 $755,000 GO CO Bonds, Series 2004B 2004 CO $100,000 $100,000 $1,575 $0 305 $1,480,000 GO CO Bonds, Series 2005A 2005 CO $415,000 $205,000 $9,898 $227,556 307 $1,290,000 GO CO Bonds, Series 2007A 2007 CO $675,000 $160,000 $23,056 $194,204 308 $1,445,000 GO CO Bonds, Series 2008A 2008 CO $955,000 $175,000 $27,038 $219,883 309 $1,455,000 GO CO Bonds, Series 2009A 2009 CO $1,135,000 $175,000 $31,425 $219,240 315 1$3,160,000 GO CO Bonds, Series 2005B Refunding $2,205,000 1 $185,000 1 $75,689 $276,011 316 $6,400,000 GO CO Bonds, Series 2006A 2006 CO /Library $4,620,000 $370,000 $170,580 $570,825 319 $1,005,000 GO CO Bonds, Series 2009B Refundin $790,000 $110,000 $20,675 $141,015 329 $4,095,000 GO CO Bonds, Series 2009D Refunding $3,490,000 $615,000 $97,000 $419,278 New Debt: 312 1 12012 CO $200,000 324 J$927,000 GO CO Capital Outlay Armor Land 1 $85,000 FTotals $2,095,000 $456,936 $2,553,012 Refunding Bonds: 315 During 2005, the City issued advanced refunding $3,160,000 General Obligation Capital Outlay Refunding Bonds, Series 2005B 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 Bonds 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 refinance existing debt issued in 1998, $2,500,000 General Obligation Capital Outlay Bonds Series 19988, to save on interest costs. The Series 1998B Bonds were issued to finance 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 refinance existing debt issued in 2002, $7,840,000 General Obligation Capital Outlay Bonds Series 2002A, to save on interest costs. The Series 2002A Bonds were issued 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. E311 CITY OF STILLWATER, MINNESOTA GO CAPITAL OUTLAY BONDS Fund Type: Debt Service Fund Fund Numbers: 300 - 329 SUMMARY OF REVENUES 2010 AND EXPENDITURES ACTUAL REVENUES: Property Taxes: Current Delinquent Market Value Homestead Credit Interest Donations Revenue Total EXPENDITURES: Debt Service: Principal Interest Paying Agent Fees Professional Services Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Bond Proceeds 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 2011 2012 ADOPTED ADOPTED $ Increase BUDGET BUDGET (Decrease) $ 2,721,111 $ 2,798,054 $ 2,553,012 $ (245,042) 69,770 - - 256 - - 43,677 - 34,190 - - $ 2,869,004 $ 2,798,054 $ 2,553,012 $ (245,042) $ 2,125,000 $ 2,220,000 $ 2,095,000 $ (125,000) 755,784 523,542 456,936 (66,606) 4,230 3,850 3,860 10 8,810 - 2,587 - 1,600 1,600 $ 2,896,411 $ 2,747,392 $ 2,557,396 $ (189,996) $ (27,407) $ 50,662 $ (4,384) $ (55,046) $ - $ - $ 1,295,745 $ 1,295,745 (4,025,000) - 4,519,115 - (4,519,115) - (85,000) (85,000) $ (4,025,000) $ - $ 1,210,745 $ 1,295,745 $ (4,052,407) $ 50,662 $ 1,206,361 $ 1,155,699 8,054,476 4,002,069 4,052,731 50,662 $ 4,002,069 $ 4,052,731 $ 5,259,092 $ 1,206,361 81 CITY OF STILLWATER, MINNESOTA GO IMPROVEMENT BONDS Fund Type: Debt Service Fund Fund Numbers: 330 - 359 ,mot. seer Funds Description: These funds record the receipt of special assessment payments, property taxes and the payment of principal, interest and paying agent fees for outstanding General Obligation Improvement Bonds (GO 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 taxes are the primary funding sources. Funding: Primarily financed with special assessments and property taxes through an annual debt service levy when necessary. 2012 Budget Impacts: Fund Number Bond Issue Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 Levy Amount for Payable 2012 Existing Debt: 340 1$4,695,000 GO Improvement Bonds, Series 2004A $2,375,000 $375,000 $77,313 $300,456 Totals $375,000 $77,313 $300,456 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. t:YA CITY OF STILLWATER, MINNESOTA a) GO IMPROVEMENT BONDS Fund Type: Debt Service Fund EXPENDITURES: 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Principal $ Property Taxes: $ 375,000 $ 375,000 Current $ 280,622 $ 295,832 $ 300,456 $ 4,624 Delinquent 7,576 - 77,313 _ Special Assessments 101,298 85,000 80,000 (5,000) Market Value Homestead Credit 27 - _ _ Interest 6,371 - _ _ Revenue Total $ 395,894 $ 380,832 $ 380,456 $ (376) EXPENDITURES: Debt Service: Principal $ 370,000 $ 375,000 $ 375,000 $ Interest 98,995 88,563 77,313 (11,250) Paying Agent Fees 431 435 440 5 Other 384 - 200 200 Expenditure Total $ 469,810 $ 463,998 $ 452,953 $ (11,045) Revenues over expenditures $ (73,916) $ (83,166) $ (72,497) $ 10,669 Net increase in fund balance $ (73,916) $ (83,166) $ (72,497) $ 10,669 Fund Balance - Jan 1 937,943 864,027 780,861 (83,166) Fund Balance - Dec 31 $ 864,027 $ 780,861 $ 708,364 $ (72,497) 83 CITY OF STILLWATER, MINNESOTA GO TIF BONDS Fund Type: Debt Service Fund Fund Numbers: 36o -379 ID 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. Funding: Primarily financed with tax increment transferred in from the obligating TIF District 2012 Budget Impacts: Fund Number Bond Issue TIF District Obligation Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 Existing Debt: 370 1$5,300,000 GO TIF Bonds, Series 2008B TIF #10 $4,910,000 $120,000 $201,685 Totals — 1 $120,00011 $201,685JI 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 SUMMARY OF REVENUES AND EXPENDITURES 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 2010 GO TIF BONDS Fund Type: Debt Service Fund Fund Numbers: 160 -179 2011 ADOPTED 2012 ADOPTED $ Increase ( Decrease) $ 425,000 $ 470,000 $ 120,000 $ (350,000) 252,726 238,218 201,685 (36,533) 856 860 425 (435) 306 - 200 200 $ 678,888 $ 709,078 $ 322,310 $ (386,768) $ (678,888) $ (709,078) $ (322,310) $ 386,768 $ 678,042 $ 709,078 $ 322,310 $ (386,768) $ 678,042 $ 709,078 $ 322,310 $ (386,768) $ (846) $ - $ _ $ _ 174,876 174,030 174,030 - $ 174,030 $ 174,030 $ 174,030 $ - 85 CITY OF STILLWATER, MINNESOTA GO REVENUE BONDS Fund Type: Debt Service Fund Fund Numbers: 38o - 389 C) 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 GO Revenue Bonds are used to finance capital projects where the debt is primarily financed through revenues generated by the project. Funding: $1,420.000 GO Revenue Bonds, Series 2009C Funding is provided by donations and net revenues (revenues less expenditures) from St Croix Valley Recreation Center operations and property taxes (when needed). $2,695,000 GO Revenue Bonds, Series 2005C This bond issue is a refunding bond of the $4,610,000 GO Revenue Bonds, Series 1998A. Funding is provided by donations and net revenues (revenues less expenditures) from the St. Croix Valley Recreation Center operations, tax increment from TIF District #4 and property taxes (when needed). 2012 Budget Impacts: Fund Number Bond Issue Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 Levy Amount for Payable 2012 Existing Debt: 2012 2012 2012 380 $1,330,000 GO Rev Bonds, Series 20008 $340,000 $85,000 385 1$2,695,000 GO Revenue Bonds, Series 2005C $1,400,000 $175,000 $45,114 $158,567 389 1$1,420,000 GO Revenue Bonds, Series 2009C 1 $1,295,000 $130,000 $36,125 $98,031 11 Totals $305,000 $81,239 $256,598 Refunding Bonds: 385 During 2005, the City issued advanced refunding $2,695,000 General Obligation Revenue Refunding Bonds, Series 2005C to refinnance existing debt issued in 1998, $4,610,000 General Obligation Revenue Bonds Series 1998A, to save on interest costs. The Series 1998A Bonds were issued to finance the construction of the City's St Croix Valley Recreation Center. 389 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 2000D, to save on interest costs. The Series 2000D Bonds were issued to finance the construction of a second sheet of ice at the City's St Croix Valley Recreation Center. Other Debt: The following bond issue was issued by the City for Board of Water Commissioners. For that reason, accounting of the 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 Principal Interest Levy Amount Fund as of Due in Due in for Payable Number Bond Issue 12/31/11 2012 2012 2012 380 $1,330,000 GO Rev Bonds, Series 20008 $340,000 $85,000 $16,299 N/A Funding: $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 of the City. - Fund balance is reserved for debt service payments, both current and future. 0 CITY OF STILLWATER, MINNESOTA GO REVENUE BONDS Fund Type: Debt Service Fund Fund Numbers: 38o - 389 SUMMARY OF REVENUES 2010 AND EXPENDITURES ACTUAL REVENUES: Property Taxes: Current Delinquent Interest Revenue Total EXPENDITURES: Debt Service: Principal Interest Paying Agent Fees Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Transfer In: St Croix Valley Recreation Center TIF District #4 Other Financing Sources (Uses) Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2011 2012 305,000 $ ADOPTED ADOPTED $ Increase BUDGET BUDGET (Decrease) $ 155,378 $ 121,309 $ 256,598 $ 135,289 505 - _ 11,020 - - _ $ 166,903 $ 121,309 $ 256,598 $ 135,289 $ 365,000 $ 395,000 $ 305,000 $ (90,000) 141,171 91,146 81,239 (9,907) 827 855 835 (20) 372 - 400 400 $ 507,370 $ 487,001 $ 387,474 $ (99,527) $ (340,467) $ (365,692) $ (130,876) $ 234,816 $ (1,105,761) $ 213,751 $ 79,944 $ (133,807) 75,000 75,000 75,000 - $ (1 ,030,761) $ 288,751 $ 154,944 $ - $ (1,371,228) $ (76,941) $ 24,068 $ 101,009 2,317,121 945,893 868,952 (76,941) $ 945,893 $ 868,952 $ 893,020 $ 24,068 87 CITY OF STILLWATER, MINNESOTA OTHER LONG -TERM DEBT Fund Type: Debt Service Fund Fund Numbers: 390 - 399 0 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: $850, 000 State Stream Protection and Improvement Loan Proceeds from the $850,000 State Stream Protection and Improvement Loan were used for the construction of the McKusick Lake Diversion Project. Major components of this project consisted of: (1) Modify the McKusick Lake outlet to handle increased storm water flow; (2) Upgrade the storm water conveyance system from McKusick Lake through McKusick Ravines to the St Croix River; (3) Construct a diversion structure at the Zephyr Railroad; (4) Construct McKusick Lake wetland and lake control structures. Capital Lease - Outdoor Lighting (at St Croix Valley Recreation Center) Proceeds form the Capital Lease - Outdoor Lighting were used to purchase outdoor lighting for the St Croix Valley Recreation Center's outdoor ice rink. A pledge was made by the Stillwater Hockey Association to reimburse the City for this purchase. Funding: $1, 900.000 State Stream Protection and Improvement Loan Funding is provided by impact fees paid by developers who develop in the annexation area benefiting from, the Trout Stream Mitigation Project. $850, 000 State Stream Protection and Improvement Loan Funding is provided by impact fees paid by developers who develop in the annexation area benefiting from, the Trout Stream Mitigation Project. Capital Lease - Outdoor Lighting (at St Croix Valley Recreation Center) Funding is provided by the Stillwater Hockey Association. 2011 Budget Impacts: Fund Number Bond Issue Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 Existing Debt: 390 J$850,000 State Stream Protection & Imp Loan $127,500 $85,000 $0 395 ICapital Lease - Outdoor Lighting $32,346 $10,238 $1,689 Totals $95,238 $1,689 Notes: - Fund balance is reserved for debt service payments, both current and future. W CITY OF STILLWATER, MINNESOTA C) OTHER LANG -TERM DEBT Fund Type: Debt Service Fund Fund Numbers: 390 - 399 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Refunds & Reimbursements $ 11,931 $ 11,927 $ 11,927 $ - Revenue Total $ 11,931 $ 11,927 $ 11,927 $ - EXPENDITURES: Debt Service: Principal $ 204,247 $ 149,247 $ 95,238 $ (54,009) Interest 2,680 2,680 1,689 (991) Expenditure Total $ 206,927 $ 151,927 $ 96,927 $ (55,000) Revenues over expenditures $ (194,996) $ (140,000) $ (85,000) $ 55,000 OTHER FINANCING SOURCES (USES): Transfer In $ 195,000 $ 140,000 $ 85,000 $ (55,000) Other Financing Sources (Uses) Total $ 195,000 $ 140,000 $ 85,000 $ (55,000) Net increase in fund balance $ 4 $ - $ - $ Fund Balance - Jan 1 500 504 504 - Fund Balance - Dec 31 $ 504 $ 504 $ 504 $ - Capital Project Funds Capital Project Funds are used by the City to account for the constructions /acquisition of capital projects /assets with the City's Tax Increment Financing Districts. rITV M: CTII I WATER 11AIAIPJI=QnTA . eenUr,` CAPITALPROJEcTFUNDS o _A Revenue Totals (Info only) Expenditure Totals (Info only) 93 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 3,033,542 $ 2,880,000 $ 2,088,000 $ (792,000) Market Value Homestead Credit 24,548 - - Interest 59,667 - - Revenue Total $ 3,118,154 $ 2,880,000 $ 2,088,000 $ (792,000) EXPENDITURES: Contractual $ 909,469 $ 790,000 $ 743,350 $ (46,650) Pedestrain Plaza 900 945,000 950,000 - Parking Ramp 176,999 - - - Legal 8,857 - - - Other 36,906 945,000 950,000 5,000 Expenditure Total $ 1,133,131 $ 2,680,000 $ 2,643,350 $ 5,000 Revenues over expenditures $ 1,985,023 $ 200,000 $ (555,350) $ (797,000) OTHER FINANCING SOURCES (USES): Transfer Out $ (753,042) $ (784,076) $ (75,000) $ 709,076 Other Financing Sources (Uses) Total $ (753,042) $ (784,076) $ (75,000) $ - Net increase in fund balance $ 1,231,981 $ (584,076) $ (630,350) $ (46,274) Fund Balance - Jan 1 6,250,614 7,482,595 6,898,519 (584,076) Fund Balance - Dec 31 $ 7,482,595 $ 6,898,519 $ 6,268,169 $ (630,350) Revenue Totals (Info only) Expenditure Totals (Info only) 93 CITY OF STILLWATER, MINNESOTA TIF DISTRICT *1 Fund Type: Capital Projects Fund Fund Number: 461 C) Fund Description: The City is the administering authority for Development 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 December 31, 2011 is the required date of decertification. Projects /Pay -as- you -qo Obligations 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 12/31/10 Expected 2011 Payment ABS Com an 1998 Life of District 50% N/A $71,968 $53,734 $2,500 Blichfield Development 1997 Life of District 100% NIA $133,489 $133,489 $0 Desch - Phase 1 1992 2007 100% $20,000 $562,139 $442,329 $0 Lumber Baron Hotel 2003 Life of District 50% N/A $835,000 $63,331 $3,150 Mainstream 2001 2011 100% $37,500 $787,800 $413,326 $0 Readex 1997 2010 100% $8,600 $172,000 $143,133 $0 Schoonover 1997 2003 100% $11,917 $143,000 $72,505 $0 Simonet 1997 2003 N/A $15,750 $189,000 $189,000 $0 UBC 1997 2010 100% $27,138 $560,000 $194,258 $0 Obligations that have been fulfilled as of December 31, 2011. *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 -198) the contract between Sanders Wacker Bergly and the City of Stillwater for design services related to the North Lowell Park/Pedestrian Walkway master plan and Pedestrian Walkway construction plans. The majority of the expenses related to the Pedestrian Walkway are TIF eligible expenses and will be paid out of this district. 94 CITY OF STILLWATER, MINNESOTA TU DISTRICT *1 Fund Type: Capital Projects Fund Fund Number: 461 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 950,111 $ 740,000 $ - $ (740,000) Market Value Homestead Credit 3,050 - - - Interest 33,336 - - Revenue Total $ 986,497 $ 740,000 $ - $ (740,000) EXPENDITURES: Contractual: Lumber Barons Hotel $ 5,819 $ 9,000 $ 3,150 $ (5,850) Readex 10,247 5,000 - (5,000) Mainstream /Maple Island 34,139 35,000 - (35,000) UBC /Lanoga 6,971 - - _ ABS Company 7,954 4,000 2,500 (1,500) Contractual Total $ 65,130 $ 53,000 $ 5,650 $ (47,350) Pedestrain Plaza $ 900 $ 945,000 $ 950,000 $ 5,000 Other 10,274 - - - Expenditure Total $ 76,304 $ 998,000 $ 955,650 $ 5,000 Revenues over expenditures $ 910,193 $ (258,000) $ (955,650) $ (745,000) Net increase in fund balance $ 910,193 $ (258,000) $ (955,650) $ (697,650) Fund Balance - Jan 1 3,508,928 4,419,121 4,161,121 (258,000) Fund Balance - Dec 31 $ 4,419,121 $ 4,161,121 $ 3,205,471 $ (955,650) 95 CITY OF STILLWATER, MINNESOTA TIF DISTRICT *4 Fund Type: Capital Projects Fund Fund Number: 464 C) Fund Description: The City is the administering authority for Development District #1, Tax Increment District #4, Woodland Lake Project (TIF District #4). The district is a redevelopment district established in 1986 and has a 25 -year duration upon the receipt of the first tax increment. 1987 was the date of the first tax increment receipt and December 31, 2012 is the required date of decertification. 2012 Budget Impacts: - Transfer Out represents funds being transferred out to debt service funds for the payment of current year debt service obligations in the amount of $75,000 to $2,695,000 General Obligation Sports Center Refunding Bonds, Series 2005C debt service fund. Proiects /Pay -as- you -go Obligations 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 $75,000 transfer out to the $3,435,000 General Obligation Tax Increment Refunding Bond, Series 2003B debt service fund was approved by the City Council starting in 1998 through the life of the district. no CITY OF STILLWATER, MINNESOTA TIF DISTRICT *4 Fund Type: Capital Projects Fund _ Fund Number: A6A SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Tax Increment Interest Revenue Total EXPENDITURES: Other Expenditure Total Revenues over expenditures OTHER FINANCING SOURCES (USES): Transfer Out Other Financing Sources (Uses) Total Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 $ 2,508,436 $ 2,735,633 $ 3,310,633 $ 575,000 zl� 97 2011 2012 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 781,309 $ 700,000 $ 650,000 $ (50,000) 20,969 - _ $ 802,278 $ 700,000 $ 650,000 $ (50,000) $ 1,469 $ - $ $ _ $ 1,469 $ - $ _ $ _ $ 800,809 $ 700,000 $ 650,000 $ (50,000) $ (468,979) $ (472,803) $ (75,000) $ 397,803 $ (468,979) $ (472,803) $ (75,000) $ - $ 331,830 $ 227,197 $ 575,000 $ 347,803 2,176,606 2,508,436 2,735,633 227,197 $ 2,508,436 $ 2,735,633 $ 3,310,633 $ 575,000 zl� 97 CITY OF STILLWATER, MINNESOTA TIF DISTRICT *6 Fund Type: Capital Projects Fund Fund Number: 466 a) Fund Description: The City is the administering authority for Development District #1, Tax Increment District #6, Jr. High (TIF District #6). The district is a redevelopment district established in 1993 and has a 25 -year duration upon the receipt of the tax increment. 1995 was the date of the first tax increment receipt and December 31, 2019 is the required date of decertification. Projects /Pay -as- you -go Obligations within this district are as follows: CUB /Jr High This project was a redevelopment of the old Stillwater Junior High site into corporate headquarters for CUB Foods and a public parking lot. No tax increment obligation is due to the developer. M CITY OF STILLWATER, MINNESOTA TIF DISTRICT *6 Fund Type: Capital Projects Fund Fund Number: 466 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 97,811 $ 90,000 $ 90,000 $ Interest 4,633 - - - Revenue Total $ 102,444 $ 90,000 $ 90,000 $ - EXPENDITURES: Lighting Project $ - $ 75,000 $ - $ (75,000) Expenditure Total $ 1,193 $ 75,000 $ - $ (75,000) Revenues over expenditures $ 101,251 $ 15,000 $ 90,000 $ 75,000 Net increase in fund balance $ 101,251 $ 15,000 $ 90,000 $ 75,000 Fund Balance - Jan 1 492,497 593,748 608,748 15,000 Fund Balance - Dec 31 $ 593,748 $ 608,748 $ 698,748 $ 90,000 0 CITY OF STILLWATER, MINNESOTA TIF DISTRICT * 8 Fund Type: Capital Projects Fund Fund Number: 468 C) Fund Description: The City is the administering authority for Development District #2, Tax Increment District #8, Anchobaypro, Inc (TIF District #8). The district is a housing district established in 2000 and has a 25 -year 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. Projects /Pay -as- you -ao Obligations within this district are as follows: LONG LAKE VILLAS Long Lake Villas is a low to moderate income multifamily housing project. The City entered into any agreement with Long Lake Limited Partnership to aid in financing a portion of tax 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 90% of the tax increment derived from the development property (Long Lake Villas). 100 1st Not to Scheduled Available Exceed a Maximum Payments Expected Development Payment Duration Tax Payment Total to Date 2012 Property Date of Payments Increment* of Obligation 12/31/11 Payment Long Lake Villas 2002 Life of District 90% N/A $1,284,038 $717,046 $74,700 100 CITY OF STILLWATER, MINNESOTA TIF DISTRICT * 8 C) Fund Type: Capital Projects Fund Fund Number: 468 2011 SUMMARY OF REVENUES 2010 ADOPTED AND EXPENDITURES ACTUAL BUDGET REVENUES: Tax Increment Market Value Homestead Credit Interest Revenue Total EXPENDITURES: Contractual: Long lake Villas Contractual Total Legal Other Expenditure Total Revenues over expenditures Net increase in fund balance Fund Balance - Jan 1 Fund Balance - Dec 31 2012 ADOPTED $ Increase BUDGET (Decrease) $ 91,649 $ 85,000 $ 83,000 $ (2,000) 5,334 - - _ 583 - - $ 97,566 $ 85,000 $ 83,000 $ (2,000) $ 83,596 $ - $ 74,700 $ 74,700 $ 83,596 $ - $ 74,700 $ 74,700 $ 2,125 $ - $ - $ _ 935 - - - $ 86,656 $ - $ 74,700 $ 74,700 $ 10,910 $ 85,000 $ 8,300 $ (76,700) $ 10,910 $ 85,000 $ 8,300 $ (76,700) 101,545 112,455 197,455 85,000 $ 112,455 $ 197,455 $ 205,755 $ 8,300 101 CITY OF STILLWATER, MINNESOTA TIF DISTRICT #9 Fund Type: Capital Projects Fund Fund Number: 469 C) Fund Description: The City is the administering authority for Development District #1, Tax Increment District #9, Curve Crest Villas (TIF District #9). The district is a housing district established in 2002 and has a 25 -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. Proiects /Pay -as- you -go Obligations within this district are as follows: CURVE CREST VILLAS Curve Crest Villas is a low to moderate income multifamily rental project. Two (2) notes were issued in the relation to this project to reimburse the developer for tax increment eligible costs. These notes are as follows: Note Issue Note Number Issue Amount Date of Issuance Balance as of 12/31/11 Principal Interest Due in Due in 2012 2012 $445,000 TIF Revenue Note R -1 $445,000 06/14/02 $387,500 $12,500 $32,189 $445,000 TIF Revenue Note R -2 $445,000 06/14/02 $387,500 $12,500 $32,189 Totals $25,000 $64,378 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 90% of the tax increment derived from the development property (Curve Crest Villas) and received by the City in the six months preceding the payment date. 102 CITY OF STILLWATER, MINNESOTA AtIO SUMMARY OF REVENUES AND EXPENDITURES REVENUES: Tax Increment Interest Revenue Total EXPENDITURES: Contractual: Curve Crest Villas Contractual Total Legal Other Expenditure Total TIF DISTRICT *9 Fund Type: Capital Projects Fund Fund Number: 469 2011 2012 2010 ADOPTED ADOPTED $ Increase ACTUAL BUDGET BUDGET (Decrease) $ 73,688 $ 65,000 $ 65,000 $ 146 - - _ $ 73,834 $ 65,000 $ 65,000 $ - $ 64,558 $ 58,500 $ 58,500 $ - $ 64,558 $ 58,500 $ 58,500 $ - $ 62 $ - $ - $ - 236 $ 64,856 $ 58,500 $ 58,500 $ - Revenues over expenditures $ 8,978 $ 6,500 $ 6,500 $ Net increase in fund balance $ 8,978 $ 6,500 $ 6,500 $ - Fund Balance - Jan 1 40,138 49,116 55,616 6,500 Fund Balance - Dec 31 $ 49,116 $ 55,616 $ 62,116 $ 6,500 103 CITY OF STILLWATER, MINNESOTA TIF DISTRICT #10 Fund Type: Capital Projects Fund Fund Number: 470 Eenrr, Ell { Fund Description: The City is the administering authority for Development District #1, Tax Increment District #10, Scattered Site Housing Projects (TIF District #10). The district is a redevelopment district established in 2004 and has a 25 -year duration upon the receipt of the first increment. 2005 is the date of the first increment receipt and December 31, 2030 is the required date of decertification. Debt Obligation: $5,300,000 General Obligation Tax Increment Bonds, Series 2008B. This debt obligation was issued to contruct a municipal parking ramp. Net revenues from this distict are its funding source. Total amount outstaning as of December 31, 2011: $4,910,000 (see page 84 for more information on the debt service obligation). Proiects /Pay -as- you -go Obligations within this district are as follows: LOFTS OF STILLWATER Lofts of Stillwater is a residential and commercial development project consisting of 1 building. 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 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. 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 Notes 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: Building Note Issue Number Issue Amount Balance Principal Interest Interest Due in 2012 Issue Date of as of Due in Due in Bond Issue Amount Issuance 12/31/11 2012 2011 $2,390,000 TIF Revenue Bonds $2,390,000 07/20/06 $2,690,000 $90,000 $114,930 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 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. 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 Notes 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: Building Note Issue Number Issue Amount Date of Issuance Balance as of 12/31/11 Principal Due in 2012 Interest Due in 2012 $3,255,000 TIF Revenue Note 1,2,4 $3,255,000 12/10/03 $2,923,000 $72,000 $205,786 $2,923,000 TIF Revenue Note 3,5 $2,923,000 09115/04 $2,701,000 $64,000 $184,824 Totals $136,000 $390,610 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 Terra Springs development) and received by the City in the six months preceding the payment date. 104 CITY OF STILLWATER, MINNESOTA 105 TIF DISTRICT *10 Fund Type: Capital Projects Fund Fund Number: o 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENDITURES ACTUAL BUDGET BUDGET (Decrease) REVENUES: Tax Increment $ 1,038,974 $ 1,200,000 $ 1,200,000 $ - Market Value Homestead Credit 16,164 - - - Other 397 - - - Revenue Total $ 1,055,535 $ 1,200,000 $ 1,200,000 $ - EXPENDITURES: Contractual: Lofts of Stillwater $ 262,255 $ 250,000 $ 250,000 $ - Terra Springs 429,578 350,000 350,000 - Lumber Barons 4,352 3,500 4,500 1,000 Contractual Total $ 696,185 $ 603,500 $ 604,500 $ 1,000 Parking Ramp $ 176,999 $ - $ - $ - Legal 6,670 - - - Other 21,899 - - - Expenditure Total $ 901,753 $ 603,500 $ 604,500 $ 1,000 Revenues over expenditures $ 153,782 $ 596,500 $ 595,500 $ (1,000) OTHER FINANCING SOURCES (USES): Transfer Out $ (284,063) $ (311,273) $ - $ 311,273 Other Financing Sources (Uses) Total $ (284,063) $ (311,273) $ - $ - Net increase in fund balance $ (130,281) $ 285,227 $ 595,500 $ 310,273 Fund Balance - Jan 1 (69,100) (199,381) 85,846 285,227 Fund Balance - Dec 31 $ (199,381) $ 85,846 $ 681,346 $ 595,500 105 Enterprise Funds Enterprise Funds ar used by the City to account for the operations that are financed primarily by userfees. L_ -- M CITY OF • ,�_,�,.+.yyB E.AbT�. ENTERPRISEFUNDS b 2012 REVENUES BY TYPE* Intaract Inmma ft A;_ - I[- ---..- 97% "Revenues include Operating and Non - Operating Revenues 2012 OPERATING EXPENSES BY TYPE Depreciation Services and Charges 64 108 Supplies 3% GITTOF STILLITATER, 111INNESOTA ti BEAU T/�„ ENTERPRISEFUNDS 2011 SUMMARY OF REVENUES 2010 AMENDED AND EXPENSES ACTUAL BUDGET OPERATING REVENUES OPERATING EXPENSES: Personnel Services Supplies Service and Charges Miscellaneous Depreciation Operating Expenses Total Operating Income NONOPERATING REVENUES: Interest Income Miscellaneous Nonoperating Revenues Total Net Income (Loss) OTHERINCREASES Capital Contributions Transfer Out Other Increases Total Net increase (decrease) in net assets Net Assets - Jan 1 Net Assets - Dec 31 $ 2,973,144 $ 2,982,000 2012 ADOPTED $ Increase BUDGET (Decrease) $ 3,020,000 $ 38,000 $ 765,804 $ 791,025 $ 803,050 $ 12,025 71,010 96,100 104,893 8,793 2,117,749 2,192,323 2,309,559 117,236 43,320 46,050 49,500 3,450 361,038 321,700 322,000 300 $ 3,358,921 $ 3,447,198 $ 3,589,002 $ 141,804 $ (385,777) $ (465,198) $ (569,002) $ (103,804) $ 36,924 $ 52,000 $ 30,500 $ (21,500) 41,021 54,000 61,000 7,000 $ 77,945 $ 106,000 $ 91,500 $ (14,500) $ (307,832) $ (359,198) $ (477,502) $ (118,304) $ 153,810 $ - $ _ $ - - (55,000) - 55,000 $ 153,810 $ (55,000) $ - $ 55,000 $ (154,022) $ (414,198) $ (477,502) $ (63,304) 9,391,337 15,461,620 15,047,422 (414,198) $ 9,237,315 $ 15,047,422 $ 14,569,920 $ (477,502) 109 CITY OF STILLWATER, MINNESOTA SANITARY SEWER Fund Type: Enterprise Fund Fund Number: 7o0 (D Fund Description: 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 solely supported by service fees charged to users. Rates: Minimum usage charge: $39.00 (Rate established by Ordinance No. 693, 02/07/1989) Overage charge: $3.70 per 1,000 gallons (Rate established by Resolution No. 2006 -153, 07/11/2006) cuiz siamng Level: Full -Time (Benefitted) I 3.95 FTE (Full Time Equivalents) Part-Time (Non- Benefitted) 1 2.01 Number of Positions 2012 Budaet Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Metropolitan Council provides water treatment services for the wastewater collected by the City's sanitary sewer system. Notes: - A review of the rates is done annually to assure the financial integrity of this fund. 110 CITY OF STILLWATER, MINNESOTA SANITARY SEWER Fund Type: Enterprise Fund Fund Number: 700 2011 2012 SUMMARY OF REVENUES 2010 ADOPTED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES: Charges for Services $ 1,872,397 $ 1,900,000 $ 1,900,000 - OPERATING EXPENSES: Personnel Services: Salaries - Full Time Overtime - Full -time Salaries - Part Time Benefits Personnel Services Total Supplies: Service and Charges: Consulting Engineer Lift Station Repairs Sewer Line Repairs Metropolitan Council Other Service's and Charges Total Miscellaneous: Depreciation: Operating Expenses Total Income (Loss) from Operations NONOPERATING REVENUES (EXPENSES): $ 229,646 $ 228,005 $ 228,916 911 (15,000) 9,348 9,120 9,120 - 44,000 10,411 Other 13,950 (4,121) 13,950 - 77,843 - 83,381 $ 85,497 2,116 $ 327,248 $ 334,456 $ 337,483 3,027 $ 25,460 $ 38,600 $ 41,100 2,500 $ - $ 1,000 $ 1,000 - $ 24,277 $ 20,000 $ 35,000 15,000 Other Increases Total 11,119 153,810 25,000 - 15,000 (10,000) - 1,420,683 $ 1,410,210 $ 1,520,000 109,790 (323,669) 188,414 Net Assets - Jan 1 217,806 8,184,039 213,086 (4,720) $ 1,644,493 $ 1,674,016 $ 1,784,086 110,070 $ 2,911 $ 4,400 $ 4,000 (400) $ 290,550 $ 268,000 $ 140,000 (128,000) $ 2,290,662 $ 2,319,472 $ 2,306,669 (12,803) $ (418,265) $ (419,472) $ (406,669) 12,803 Interest Income $ 29,891 $ 40,000 $ 25,000 (15,000) Penalty 44,060 40,000 44,000 4,000 Other (4,121) 14,000 14,000 - Nonoperating Revenues Total $ 69,830 $ 94,000 $ 83,000 (11,000) Net Income (Loss) $ (348,435) $ (325,472) $ (323,669) 1,803 OTHER INCREASES: Capital Contributions $ 153,810 $ - $ - - Other Increases Total $ 153,810 $ - $ - - Change in Net Assets $ (194,625) $ (325,472) $ (323,669) 1,803 Net Assets - Jan 1 8,184,039 7,989,414 7,663,942 (325,472) Net Assets - Dec 31 $ 7,989,414 $ 7,663,942 $ 7,340,273 (323,669) 111 CITY OF STILLWATER, MINNESOTA STORM SEWER Fund Type: Enterprise Fund Fund Number: 7o5 C) Fund Description: 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 No. 2007 - 248,12/18/2007): Single- Family and Duplexes: $10.00 per dwelling Institutional: $60.00 per acre Multi - 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 2012 Staffing Level: Full Time 2.95 FTE (Full Time Equivalents) 2012 Budaet Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. - Membership & Dues is dues to the Middle St Croix WMO and the East Metro Water Resource Consultant (providing the education portion of the MS4 permit), and $600 to League of Minnesota Cities - Coalition of Metro Cities. Notes: - A review of the rates is done annually to assure the financial integrity of this fund. 112 CITY OF STILLWATER, MINNESOTA STORM SEWER Fund Type: Enterprise Fund Fund Number: 705 2011 2012 SUMMARY OF REVENUES 2010 AMENDED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES: Charges for Services $ 490,210 $ 490,000 $ 490,000 $ OPERATING EXPENSES: $ 1,320 $ 2,000 Personnel Services: 20,500 $ 18,500 Contractual Salaries - Full Time $ 182,141 $ 178,198 $ 176,769 $ (1,429) Overtime - Full -Time 5,386 5,350 5,350 - Benefits 53,042 65,108 72,399 7,291 Personnel Services Total $ 240,569 $ 248,656 $ 254,518 $ 5,862 Supplies: $ 8,057 $ 15,400 $ 18,750 $ 3,350 Service and Charges: Consulting Engineer $ 1,320 $ 2,000 $ 20,500 $ 18,500 Contractual (55,000) 2,411 - $ 3,450 Change in Net Assets 3,400 83,027 $ (50) Storm Sewer Repairs (5,626) $ 13,834 Net Assets - Jan 1 15,000 379,547 20,000 5,000 Pond Maintenance Net Assets - Dec 31 10,831 462,574 $ 42,000 $ 40,000 (5,626) (2,000) Other 73,973 67,910 73,958 6,048 Services and Charges Total $ 102,369 $ 130,360 $ 157,858 $ 27,498 Miscellaneous: Memberships and Dues $ 34,399 $ 35,000 $ 37,000 $ 2,000 Other 1,606 4,000 5,500 1,500 Miscellaneous Total $ 36,005 $ 39,000 $ 42,500 $ 3,500 Depreciation: $ 23,780 $ 16,600 $ 24,000 $ 7,400 Operating Expenses Total $ 410,780 $ 450,016 $ 497,626 $ 47,610 Income (Loss) from Operations $ 79,430 $ 39,984 $ (7,626) $ (47,610) NONOPERATING REVENUES: Interest Income $ 2,515 $ 4,000 $ 2,000 $ (2,000) Other 1,082 - - - Nonoperating Revenues Total $ 3,597 $ 4,000 $ 2,000 $ (2,000) OTHER INCREASES (DECREASES): Transfer Out $ - $ (55,000) $ - $ 55,000 Other Increases (Decreases) Total $ - $ (55,000) $ - $ 55,000 Change in Net Assets $ 83,027 $ (11,016) $ (5,626) $ 5,390 Net Assets - Jan 1 379,547 462,574 451,558 (11,016) Net Assets - Dec 31 $ 462,574 $ 451,558 $ 445,932 $ (5,626) 113 CITY OF STILLWATER, MINNESOTA SIGNS & LIGHTING Fund Type: Enterprise Fund Fund Number: Rio Fund Description: 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 Information: 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. Funding Source: Expenses are solely supported by service fees charged to users. Rates (established by Resolution No. 2003 -151, 07/0112003): Single- Family and Duplexes: $8 per dwelling Commercial: $96 per acre Multi - Family: $6 per unit Commercial with System: $128 per acre Institutional: $24 per acre Active Open Space: $2 per acre Interfund Obligation On August 5, 2003, Resolution Number 2003 -173, the City Council approved the funding of the Industrial Park 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 $165,470 to the Sign & Lighting Fund to cover the negative cash amount of the fund. As part of the feasibility report for the 2006 Street Improvement 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: *Yearly payments are not calculated until the closing of the fiscal year. In other words, the annual payment for fiscal year 2011 will not be available until March of 2012. 2012 Staffing Level: Full Time 1.25 FTE (Full Time Equivalents) 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. Notes: - An annual review of the rates will be done to assure the financial integrity of this fund. 114 Original Amount Balance Projected Loan Paid* as of Amount to Interfund Obligation Amount to Date 12/31/10 be Paid in 2011 Due to Capital Projects Fund $165,470 $60,064 $105,406 $0 Due to Capital Projects Fund $40,000 $0 $40,000 $0 *Yearly payments are not calculated until the closing of the fiscal year. In other words, the annual payment for fiscal year 2011 will not be available until March of 2012. 2012 Staffing Level: Full Time 1.25 FTE (Full Time Equivalents) 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. Notes: - An annual review of the rates will be done to assure the financial integrity of this fund. 114 CITY OF STILLWATER, MINNESOTA 115 SIGNS & LIGHTING Fund Type: Enterprise Fund Fund Number: 710 2011 2012 SUMMARY OF REVENUES 2010 AMENDED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES: Charges for Services $ 377,533 $ 370,000 $ 375,000 $ 5,000 OPERATING EXPENSES: Personnel Services: Salaries - Full Time $ 75,316 $ 71,606 $ 70,724 $ (882) Overtime - Full -Time 2,482 2,000 2,000 - Benefits 23,339 27,878 30,408 2,530 Personnel Services Total $ 101,137 $ 101,484 $ 103,132 $ 1,648 Supplies: $ 18,497 $ 21,700 $ 21,700 $ - Service and Charges: Contractual $ - $ 600 $ 600 $ - Electricity 222,866 238,000 230,000 (8,000) Other 52,934 30,041 29,927 (114) Services and Charges Total $ 275,800 $ 268,641 $ 260,527 $ (8,114) Miscellaneous: $ 1,580 $ 250 $ 1,000 $ 750 Operating Expenses Total $ 397,014 $ 392,075 $ 386,359 $ (5,716) Income (Loss) from Operations $ (19,481) $ (22,075) $ (11,359) $ 10,716 NONOPERATING REVENUES; Other $ 28,269 $ - $ - $ - Change in Net Assets $ 8,788 $ (22,075) $ (11,359) $ 10,716 Net Assets - Jan 1 (99,651) (90,863) (112,938) (22,075) Net Assets - Dec 31 $ (90,863) $ (112,938) $ (124,297) $ (11,359) 115 CITY OF STILLWATER, MINNESOTA PARKING Fund Type: Enterprise Fund Fund Number: 720 ,N�,'.y6EAUl�i •- a3�`' 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, pay parking and permit parking. Fundinq Source: Expenses are solely supported by parking fees charged to users. Major revenues include pay parking fees, permit parking fees and parking enforcement fines. 2012 Staffing Level: Full Time 1710 FTE (Full Time Equivalents) Part Time I 6.0 Number of Positions 2012 Budget Impacts: - Personnel costs include 0% COLA on wages, a 0% increase in health insurance rates, and a 0% increase in dental insurance rates. 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 Pay Parking Program consists of Lots #1 (South Main St Lot) and Lot #2 (River Lot). 116 CITY OF STILLWATER, MINNESOTA SUMMARY OF REVENUES AND EXPENSES OPERATING REVENUES: Parking Permits Parking Meters Parking Fines/Tickets Operating Revenues Total OPERATING EXPENSES: Personnel Services: Salaries - Full Time Overtime - Full Time Salaries - Part Time Benefits Personnel Services Total Supplies: Service and Charges: Miscellaneous: Depreciation: Operating Expenses Total Income (Loss) from Operations NONOPERATING REVENUES (EXPENSES): Interest Income Sale of Property Nonoperating Revenues Total Change in Net Assets Net Assets - Jan 1 Net Assets - Dec 31 2010 ACTUAL $ 22,058 $ 134,255 32,491 PARKING Fund Type: Enterprise Fund Fund Number: 720 2011 2012 $ AMENDED ADOPTED $ Increase BUDGET BUDGET (Decrease) 3,860 3,000 33,000 $ 27,000 $ (6,000) 110,000 125,000 15,000 31,000 31,000 - 174,000 $ 183,000 $ 9,000 $ 47,668 $ 48,507 $ 48,998 $ 491 3,860 3,000 3,000 - 27,602 35,000 36,000 1,000 17,720 19,922 19,919 (3) $ 96,850 $ 106,429 $ 107,917 $ 1,488 $ 11,986 $ 13,400 $ 16,543 $ 3,143 $ 55,264 $ 75,006 $ 61,196 $ (13,810) $ 1,992 $ 1,000 $ 1,000 $ - $ 38,613 $ 35,000 $ 38,000 $ 3,000 $ 204,705 $ 230,835 $ 224,656 $ (6,179) $ (15,901) $ (56,835) $ (41,656) $ 15,179 $ 4,518 $ 8,000 $ 3,500 $ (4,500) $ 4,518 $ 8,000 $ 3,500 $ (4,500) $ (11,383) $ (48,835) $ (38,156) $ 10,679 936,303 924,920 876,085 (48,835) $ 924,920 $ 876,085 $ 837,929 $ (38,156) 117 CITY OF STILLWATER, MINNESOTA I' O \ \ U Fund Type: Enterprise Fund Fund Number: 725 �r Fund Description: The Parking Ramp 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 Ramp is located on 2nd 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 Parking Fund. For financial statement purposes the parking ramp fund is combined with the Parking Fund. 118 CITY OF STILLWATER, MINNESOTA 119 PARKING RAMP Fund Type: Enterprise Fund Fund Number: 725 2011 2012 SUMMARY OF REVENUES 2010 AMENDED ADOPTED $ Increase AND EXPENSES ACTUAL BUDGET BUDGET (Decrease) OPERATING REVENUES: Parking Permits $ 44,200 $ 48,000 $ 72,000 $ 24,000 OPERATING EXPENSES: Supplies: $ 7,010 $ 7,000 $ 6,800 $ (200) Service and Charges: $ 39,823 $ 44,300 $ 45,892 $ 1,592 Miscellaneous: $ 832 $ 1,400 $ 11000 $ (400) Depreciation: $ 8,095 $ 2,100 $ 120,000 $ 117,900 Operating Expenses Total $ 55,760 $ 54,800 $ 173,692 $ 118,892 Income (Loss) from Operations $ (11,560) $ (6,800) $ (101,692) $ (94,892) Capital Contributions $ 6,196,036 $ - $ - $ - Change in Net Assets $ 6,184,476 $ (6,800) $ (101,692) $ (94,892) Net Assets - Jan 1 (8,901) 6,175,575 6,168,775 (6,800) Net Assets - Dec 31 $ 6,175,575 $ 6,168,775 $ 6,067,083 $ (101,692) 119 OTHER SCHEDULES ClTf OF , .. BEAU7��, fit 012 CAPITAL OUTLAY DEPARTMENT ADOPTED Account Name GENERALFUND Mayor & City Council IPADS 5,600 Computer Equipment Total Mayor & City Council 5,600 MIS Computer Equipment (Unspent) 37,551 Computer Equipment Anti Virus Software 4,800 Computer Equipment Web & Email filtering 5,000 Computer Equipment Microsoft Licensing 10,000 Computer Equipment Server 10,000 Computer Equipment Upgrade WUS software 3,000 Computer Equipment Total MIS 70,351 Finance Computer Equipment (Unspent) 20,000 Computer Equipment Software upgrade (Springbrook) 27,000 Computer Equipment Server 8,000 Computer Equipment Total Finance 55,000 Administration Website 2,000 Computer Equipment Total Administration 2,000 Plant/City Hall Improvements (Unspent) 24,880 Improvements Chiller 150,000 Machinery & Equipment Total Plant/City Hall 174,880 Police Computer Equipment (Unspent) 15,635 Computer Equipment Computer replacement 6,000 Computer Equipment Toughbooks for MDC replacement 12,000 Computer Equipment Recorder replacement 4,000 Computer Equipment Squads (3) 105,000 Automotive Unmarked vehicle 28,000 Automotive In Car Video 9,000 Computer Equipment Forensic cell phone 8,045 Computer Equipment GPS tracker 7,000 Computer Equipment Total Police 194,680 Fire Monitors for garage 1,000 Computer Equipment Computer replacement 2,400 Computer Equipment IPAD 1,000 Computer Equipment Fire apparatus replacement 125,000 Automotive Radio pagers 4,000 Machinery & Equipment Turnout gear 10,000 Machinery & Equipment Fire Station (Conceptual Plan) 12,200 Improvements Wash Co IQ Response Software 9,000 Computer Equipment Total Fire 164,600 Building Inspections Workstation 4,500 Machinery & Equipment Total Building Inspections 4,500 123 CITY OF STILLWATER, MINNESOTA 41,1 A sEa�rF 2 012 CAPITAL OUTLAY DEPARTMENT Engineering Hydrant Replacement Computer replacement Total Engineering Streets Hook truck Cab and Chassis with snow removal equipment, wing and underbody, box and sander and a 4 yd hot box 12" wood Chipper Bobcat replacement Computer replacement Copier Total Streets TOTAL GENERAL FUND ST CROIX VALLEY RECREATION CENTER FUND St Croix Valley Recreation Center Ice Arena Computer Equipment (Unspent) Machinery & Equipment (Unspent) Computer replacement Restroom partitions Zamboni Total St Croix Valley Recreation Center Ice Arena Li1V Lake Refrigeration Dasherboard Total Lily Lake TOTAL ST CROIX VALLEY RECREATION CENTER LIBRARY FUND Operations Closed Circuit Cameras & Head -End Equipment (2) Fiction Shelving Public Copier Computers (6) Coffeeshop Screen AV Equipment (Margaret Rivers Room A) Runk Cabinet Replacement White Board - Conference Room Total Library Operations Plant One -Way Windows - Circulation Department Building Improvements Total Library Plant ADOPTED 25,000 1,200 26,200 98,000 36,000 1,600 1,200 6,000 142,800 $ 840,611 5,598 5,400 1,200 10,000 90,000 112,198 172,000 120,000 292,000 404,198 3,000 1,500 7,000 6,000 1,000 3,500 2,000 1,500 25,500 1,300 7,000 8,300 TOTAL LIBRARY FUND $ 33,800 124 Account Name Improvements Computer Equipment Automotive Machinery & Equipment Machinery & Equipment Computer Equipment Computer Equipment Computer Equipment Machinery & Equipment Computer Equipment Improvements Machinery & Equipment Improvements Improvements Computer Equipment Machinery & Equipment Machinery & Equipment Computer Equipment Machinery & Equipment Machinery & Equipment Machinery & Equipment Machinery & Equipment Improvements Improvements CITY OF STILLWATER, MINNESOTA F BE4Ur, c, RE4�4j 2012 CAPITAL OUTLAY DEPARTMENT PARKS Machinery & Equipment (Unspent) Millbrook Park Improvements: Parking lot Ballfield Playground includes sidewalk Northland Park irrigation Court Resurfacing - Lily tennis courts, Benson basketball court, Northland tennis courts Lily Lake light repair Computer replacement TOTAL PARKS FUND SANITARY SEWER FUND Improvements (Unspent) Jetter Truck Computer replacement TOTAL SANITARY SEWER FUND UNBONDED) ADOPTED 2,100 85,000 15,000 85,000 25,000 45,000 20,000 1,200 $ 278,300 464,460 270,000 1,200 $ 735,660 TOTAL 2012 CAPITAL OUTLAY $ 2,292,569 125 Account Name Computer Equipment Improvements Improvements Improvements Improvements Improvements Improvements Computer Equipment Improvements Automotive Computer Equipment CITY OF STILLWATER, MINNESOTA C) 2012 CAPITAL OUTLAY (Financing) 0 FINANCING: Bonded GO Capital Outlay (2012 Bond Issue): General Fund St Croix Valley Recreation Center Fund Library Fund Parks Fund Total GO Capital Outlay (2012 Bond Issue) Bonded GO Capital Outlay (2005 Bond Issue): General Fund Total Bonded Capital Outlay Bonded GO Capital Outlav (Prior Years) General Fund St Croix Valley Recreation Center Fund Parks Total GO Capital Outlay (Prior Years) Non - Bonded Capital Outlay Sanitary Sewer Fund Signs & Lighting Fund Total Non - Bonded Capital Outlay: TOTAL BONDED AND NON - BONDED CAPITAL OUTLAY: 592,545 393,200 33,800 276,200 1,295,745 507000, 1,445,7:5 98,066 10,998 2,100 111,164 735,660 735,660 $ 2,292,569 ** *ADOPTED includes carry over requests made on 12/20/2011 * ** Funding is subject to change based on the closing of 2011 and available prior years bond proceeds. 126 CITY OF STILLWATER, MINNESOTA (D 2 O 12 RESERVES (Bond Proceeds) (D 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 bond 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 PROJECT DESCRIPTION YEAR IN RESERVES FUNDING SOURCE FUND PURCHASE Lowell Park Improvement 2001 $180,000 2001 CO Bonds 423 2013 Lowell Park Improvement 2002 $175,000 2002 CO Bonds 423 2013 Lowell Park Improvement 2003 $165,000 2003 CO Bonds 420 2013 Pedestrian Plaza 2005 $375,000 2005 CO Bonds 405 2012 Refrigeration Retrofit 2008 $60,000 2008 CO Bonds 408 2012 Refrigeration Retrofit 2009 $168,000 2009 CO Bonds 409 2012 Insulation 2009 $70,000 2009 CO Bonds 409 2012 Roll off Truck 2007 $24,100 2007 CO Bonds 407 2012 Roll off Truck 2008 $40,400 2008 CO Bonds 408 2012 Roll off Truck 2009 $105,250 2009 CO Bonds 409 2012 127 CITY OF BEAUl��G �rE SEA& GLOSSARY OFTERMS NHS • b 3 n�4' 4, .31\\ Adopted Budget The financial plan of revenues and expenditures for a fiscal year as adopted by the City Council. Appropriation An authorization made by the legislative body of a government, which permits officials to incur obligations against and to make 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 promise to pay (debt) a specified sum of money (principal or face 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 bonds, 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 fixed assets. Capital A 5 -year plan that identifies priorities and a timeframe for undertaking capital projects and Improvement Plan provides a financing plan for those projects. (CIP) 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 Rates 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 ENE OAUT /.r E BEAUr /o G GLOSSARY OFTERMS a O �j ��JN /s•asn��� '� /s a3n��� 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 Valley 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 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 taxing 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 bodies to ensure that all property under its jurisdiction is equitably assessed in terms of uniformity and consistency. Washington County holds a "Board of Review" during the month of May. 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. Louis, Itasca, Crow Wing, and Aitkin 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 1998. Each year, 40 percent of the growth in commercial, 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 levy is generated by applying the local tax rate to the distribution tax capacity. Fiscal Disparities The tax capacity contributed to the Metropolitan and Iron Range 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 Wing, Aitkin, 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 Relief Area are affected by these programs. 132 T • . ENE SEAUl ENE BEA�r�F GLOSSARY OFTERMS 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 local 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 all 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 Credit Fund Balance GASB (Government Accounting Standards Board) GAAP (General Accepted Accounting Principles) A pledge of the general taxing power of the City to repay debt obligations. The cumulative excess of revenues over expenditures in a fund at the end of a fiscal year for governmental funds. An organization whose main purpose is to improve and create accounting reporting standards or generally accepted accounting principles (GAAP). These standards make it easier for users to understand and use the financial records of both state and local governments Conventions, rules and procedures that serve as the norm for the fair presentation of financial statements. 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. Homestead Market This program provides a tax reduction to all homesteads valued below $413,800 by directly Value Exclusion reducing the Taxable Tax Capacity of a property. (MVEx) Interest Earnings Used to describe all revenues received in a period from investment earnings and penalties & interest imposed on delinquent property taxes and special assessments. 133 ��E BEAVr�F 2 �.q Gr � o /S a3r"Y'� JN�S. 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 form of grants, entitlements or shared revenues. Does Revenue not include charges for services provided by a city fund to another government. Legal Description This may be an abbreviated method of geographically identifying a parcel of land for tax purposes. The county recorder maintains the recorded legal description, which is acceptable in a court of law. Levy To impose taxes, special assessments, or service charges for the support of governmental activities. Levy Limit The maximum amount which is permitted to be levied by a taxing 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 5,000. 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 LGA in the revenue Aid (LGA) section of the General Fund. The amount of Local Government Aid given to a particular City is based on a formula approved by the State 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. During the 2008 (for budget year 2009) legislative session, the distribution formula changed yet again. LGA payments are made in two equal installments on or around July 21 and December 26 of each year. Local Tax Rate The rate used to compute taxes for each parcel of property. Local tax rate is computed by dividing the certified levy (after reduction for fiscal disparities distribution levy and disparity reduction) by the taxable tax 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 (MVHC) automatically applied to the owner's property taxes. 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. This program was repealed with the 2011 Omnibus Tax Act and was replaced with the Homestead Market Value Exclusion program. Miscellaneous Revenues not properly classified as taxes, licenses and permits, intergovernmental revenues, Revenues charges for services, or fines and forfeits. Municipal State Aid The Minnesota Constitution requires that state gasoline taxes 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 highway (CSAH) and municipal state aid (MSA) programs. Twenty -nine percent of the fund is dedicated for certain county roads and highways. Nine percent is dedicated to cities with populations of over 5,000. The remaining 62 percent is dedicated to State trunk highway system. Certain construction standards must be adhered to before a rood can be designated as an city MSA 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. 134 CITY OF ��� BEAUl'.r NE BEA�r�� G � G GLOSSARY , r f ��s•aan�� '�isaeN� Other Financing Increase in current financial resources that is reported separately from revenues to avoid Sources distorting revenues trends. GAAP provide for the use of the other financing sources category in five specific instances: (1) Issuance of Debt; (2) Interfund transfers; (3) Proceeds of the sale of capital assets; (4) Insurance Proceeds; and (5) Payments on demand bonds. 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; (2) 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.xxxx. 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 401(a) of the Internal Revenue Code. Personnel Services A level of budgetary appropriations that include expenses for wages, employee benefits and required employment taxes. 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 kind of property; that is, real, personal, or a mobile /manufactured home. The amount of the tax is dependent on the value and property tax classification of the property. Property Tax Levy The tax imposed by a local unit of government. The tax is established on or around Dec. 28 of the year preceding the year the levy 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 Public Safety Used to describe all revenues received in a period from current taxes and delinquent taxes. Property taxes are levied on both real and personal property according to the property's valuation and tax rate. 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 Building Inspections. 135 CITY OF STILLINATER ENE BEA&& BEAVr�F G G GLOSSARY ' ��'�'is • a 3 N�'� ��NiS . a3n��A 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, multiple - employer retirement plans. This plan is established and administered in accordance with Minnesota 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. 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 fall under the City departmental organizational chart as public works. For reporting purposes, these expenditures /expenses 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 levy 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. Tax Roll The official list of each taxpayer subject to a property tax, together with the amount of the assessment and the amount of taxes 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. 136 CITY OF = NE��BEA�Tj�G! mo�oot;ip',e a GLOSSARY OFTERMS �'��s• aan�� Taxes 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 services, whether federal, state, or local. Taxable Market This is the value of the parcel that the taxes 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 in, determines the amount of property taxes owed. 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. 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- Taxation A notice mailed 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 STILLWATER