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Special Revenue and Enterprise Fund BudgetsCITY OF HOPKINS MEMORANDUM Date: September 9, 2014 To: Mayor & City Council From: Christine Harkess, Finance Director FINANCE DEPARTMENT Subject: 2015 Budget — Special Revenue and Enterprise Funds Continuing with the 2015 Budget process we will look at the Special Revenue and Enterprise Funds. At the September 9th work session we will go through each special revenue fund, some with more detail than others and discuss the status of those funds. We will also review each of the Enterprise funds and discuss the proposed rate increases. Attached: 1. Power point on Special Revenue & Enterprise Funds 2015 Special Revenue Enterprise Fund Budgets §;MMIMM Chemical Assessment 2014 2015 %age Budget Budget Incr (Decr) Revenues $45,000 $45,000 0.00% Expenditures $45,000 $45,000 0.00% Revenues over (under) Expenditures $0 $0 - ■ Expenditures are covered by grant revenues ■ Additional grants have been received in past years but are not guaranteed. ■ Possible state increase in operations budget Economic Development ■ Tax levy is set at $272,572 which is the maximum allowed ■ Eliminated - Arts Center transfer of $61,000 ■ Includes 1.6 FTE in staffing ■ This fund is used for developer assistance 2014 2015 %age Budget Budget Incr (Decr) Revenues $287,480 $288,072 0.21% Expenditures $295,488 $240,828 -18.50% Revenues over (under) Expenditures ($8,008) $47,244 689.96% ■ Tax levy is set at $272,572 which is the maximum allowed ■ Eliminated - Arts Center transfer of $61,000 ■ Includes 1.6 FTE in staffing ■ This fund is used for developer assistance Parking Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budaet Budaet Incr (Decr) $96,000 $96,500 0.52% $95,869 $344,404 259.24% $131 ($247,904) 189339.69% ■ Rate increase for 2015 on monthly, quarterly and yearly permits ■ Ramp Maintenance- $250,000 ■ One PT enforcement officer at 29 hours a week ■ Court fines - $22,000 ■ Parking Permits - $74,000 Communications ■ Franchise Fees - $218,000 ■ PEG Access Fees - $30,000 ■ Annual Transfer to Arts Center - $86,920 ■ Capital Expenditures - $35,000 for presentation table improvements 2014 2015 %age Budget Budget Incr (Decr) Revenues $236,500 $250,000 5.71% Expenditures $208,954 $236,057 12.97% Revenues over (under) Expenditures $27,546 $13,943 -49.38% ■ Franchise Fees - $218,000 ■ PEG Access Fees - $30,000 ■ Annual Transfer to Arts Center - $86,920 ■ Capital Expenditures - $35,000 for presentation table improvements Depot Coffee House Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budaet Budaet Incr (Decr) $354,650 $343,000 -3.28% $354,456 $346,462 -2.26% $194 ($3,462) -1884.54% ■ Youth Project receives support from the General Fund, Minnetonka and Three Rivers Park District - $40,000 total ■ Coffee Operations support the Youth Project 212MIEN Depot Coffee House - cont. ■ Budgets by Department Youth Project 2014 2015 %age Budget Budget Incr (Decr) Revenues $127,500 $123,000 -3.53% Expenditures $127,310 $128,152 0.66% Revenues over (under) Expenditures $190 ($5,152) -2811.58% Depot Coffee House - cont. ■ Budgets by Department Coffee Operations 2014 2015 %age Budaet Budaet Incr (Decr) Revenues $227,150 $220,000 -3.15% Expenditures $227,146 $218,310 -3.89% Revenues over (under) Expenditures $4 $1,690 42150.00% Depot Coffee House - cont. ■ Youth Project • Levy for Lease - $50,000 • $10,000 City participation; $15,000 Joint Rec participation, $15,000 Three Rivers Park District participation • Staffing is being reviewed due to resignation of Youth Coordinator ■ Coffee Operations • Budget to break even • One FT staff, many PT • Goal is to make enough money to support the Youth Project and fill the gap left by grant funds that are more difficult to obtain Arts Center Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budaet Budget Incr (Decr) $777,376 $787,121 1.25% $744,428 $1,000,027 34.33% $32,948 ($212,906) -746.19% ■ Budget prepared according to FMP ■ Staffing - 3 FT, 2 PT plus seasonal PT and many volunteers ■ Projected loss from operations ($17,596) and in total due to capital items ■ Economic Development transfer eliminated - $61,000 ■ Tax levy added $85,000 Tax Increment Funds ■ Funds will be administered pursuant to the TIF Management Plan developed by Ehlers and staff. Revenues over (under) Revenues Expenditures Expenditures TIF 1-2 Entertainment $58,100 $3,000 $55,100 TIF 2-6 Handicapped Hsg $40,994 $8,960 $32,034 TIF 2-9 Oaks of Mainstreet $121,200 $39,821 $81,379 TIF 2-11 Super Valu $2,043,000 $1,352,624 $690,376 5th Avenue Flats $0 $2,000 ($2,000) TIF 1-4 Marketplace & Main $105,100 $101,550 $3,550 ■ Funds will be administered pursuant to the TIF Management Plan developed by Ehlers and staff. Water Fund Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budget Budget Incr (Decr) $1,605,484 $1,674,400 4.29% $1,615,651 $1,569,265 -2.87% ($10,167) $105,135 1134.08% ■ Water rates will increase from $2.10 to $2.18 ■ Three bond issues outstanding ■ Reduction in maintenance costs of structures Water Projects ■ Street Improvements ■ Mainstreet Rehabilitation project - $250,000 ■ Equipment ■ Phone system upgrade - $6,800 Sanitary Sewer Fund ■ Met Council fees increased 5.7% to $1,310,219 - 55% of total expenses ■ Rates to increase from $4.10 to $4.30 ■ Three bond issues outstanding Sanitary Sewer Projects ■ Street Improvement ■ Convert L-3 to submersible station - $150,000 ■ Equipment ■ Phone system upgrade - $6,800 2014 2015 %age Budget Budget Incr (Decr) Revenues $2,104,150 $2,208,700 4.97% Expenditures $2,313,265 $2,382,064 2.97% Revenues over (under) Expenditures ($209,115) ($173,364) 17.10% ■ Met Council fees increased 5.7% to $1,310,219 - 55% of total expenses ■ Rates to increase from $4.10 to $4.30 ■ Three bond issues outstanding Sanitary Sewer Projects ■ Street Improvement ■ Convert L-3 to submersible station - $150,000 ■ Equipment ■ Phone system upgrade - $6,800 Storm Sewer Fund Revenues Expenditures Revenues over (under) Expenditures ■ No rate increase scheduled 2014 2015 %age Budget Budget Incr (Decry $803,000 $803,000 0.00% $479,638 $490,738 2.31% $323,362 $312,262 -3.43% ■ Three bond issues outstanding Storm Sewer Projects ■ Street Improvement ■ Storm Drainage Maintenance - Alley Repairs - $20,000 ■ Storm Water Management Project - $230,000 ■ Parking Lots and HCRRA Alley Improvements - $220,000 ■ Total Projects = $470,000 Refuse Fund Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budaet Budget Incr (Decr) $947,200 $949,800 0.27% $872,206 $903,376 3.57% $74,994 $46,424 38.10% ■ Rate Increase for recycling from $4.25 to $4.50 ■ NO increase in disposal costs Refuse Fund - cont. ■ Programs under Refuse ■ Bulk Collection ■ Yard Waste/ Leaf Collection ■ Recycling ■ Brush Service ■ Disposal ■ Capital — Refuse Truck - $204,800 Pavilion Fund Revenues Expenditures Revenues over (under) Expenditures 2014 2015 %age Budaet Budget Incr (Decry $372,600 $455,600 22.28% $438,462 $437,617 -0.19% ($65,862) $17,983 127.30% ■ Implemented tax levy of $65,000 ■ Staffing - 2 FT, 1 PT and seasonal PT staff ■ One bond issue outstanding for Ice Machine Pavilion Fund - cont. ■ Programs of the Pavilion ■ Ice Rental - rental of ice time ■ Soccer - turf rent and leagues ■ Dry Floor - rentals ■ Mezzanine - rentals and leases ■ Capital ■ Evaporator Condenser Replacement- $60,000