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2016 Budget – Special Revenue and Enterprise FundsCITY OF HOPKINS MEMORANDUM Date: October 11, 2016 To: Mayor & City Council From: Christine Harkess, Finance Director Subject: 2016 Budget – Special Revenue and Enterprise Funds Continuing with the 2017 Budget process we will look at the Special Revenue and Enterprise Funds. At the October 11th 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 review the impact of the proposed rate increases. Attached: 1. Power point on Special Revenue & Enterprise Funds FINANCE DEPARTMENT 10/7/2016 1 2017 Special Revenue & Enterprise Fund Budgets Expenditures are covered by grant revenues Additional grants have been received in past years but are not guaranteed. Chemical Assessment 2016 2017 %age Budget Budget Incr (Decr) Revenues $60,000 $60,000 0.00% Expenditures $60,000 $60,000 0.00% Revenues over (under) Expenditures $0 $0 - 10/7/2016 2 Tax levy is set at $310,200 which is the maximum allowed Includes funding for 25% of the FT communications position This fund is used for developer assistance Economic Development 2016 2017 %age Budget Budget Incr (Decr) Revenues $356,113 $396,200 11.26% Expenditures $176,600 $210,449 19.17% Revenues over (under) Expenditures $179,513 $185,751 -3.47% Rate increase for 2017 on monthly, quarterly and yearly permits No capital expenditures for 2017 One FT enforcement officer at 29 hours a week Court fines ‐ $22,000 Parking Permits ‐ $120,000, a budget increase of $5,000. Parking 2016 2017 %age Budget Budget Incr (Decr) Revenues $138,000 $144,500 4.71% Expenditures $359,600 $110,928 -69.15% Revenues over (under) Expenditures ($221,600) $33,572 115.15% 10/7/2016 3 Franchise Fees ‐ $230,000 PEG Access Fees ‐ $33,000 FT Communications positon funded at 75% Annual Transfer to Arts Center ‐ $86,920 Capital Expenditures ‐ $26,500 – technology upgrades Communications 2016 2017 %age Budget Budget Incr (Decr) Revenues $257,000 $269,200 4.75% Expenditures $223,773 $289,747 29.48% Revenues over (under) Expenditures $33,227 ($20,547) -161.84% Youth Project receives support from the General Fund, Minnetonka and Three Rivers Park District ‐ $45,000 total Coffee Operations support the Youth Project Depot Coffee House 2016 2017 %age Budget Budget Incr (Decr) Revenues $349,100 $348,000 -0.32% Expenditures $338,142 $343,036 1.45% Revenues over (under) Expenditures $10,958 $4,964 -54.70% 10/7/2016 4 Youth Project Levy for Lease ‐ $50,000 $15,000 City participation; $15,000 Joint Rec participation, $15,000 Three Rivers Park District participation Coffee Operations Budget to make a profit to support youth programming 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 Depot Coffee House –c o n t . Tax levy ‐ $250,000 Capital for 2017 totals $398,200 On track with Financial Management Plan Arts Center 2016 2017 %age Budget Budget Incr (Decr) Revenues $787,108 $935,734 18.88% Expenditures $946,714 $1,234,505 30.40% Revenues over (under) Expenditures ($159,606) ($298,771) 87.19% 10/7/2016 5 Funds will be administered pursuant to the TIF Management Plan developed by Ehlers and staff. TIF 2‐9 will be decertified in 2016 Tax Increment Funds Revenues over (under) Revenues Expenditures Expenditures TIF 1-2 Entertainment $31,000 $3,242 $27,758 TIF 2-6 Handicapped Hsg $40,149 $6,976 $33,173 TIF 2-9 Oaks of Mainstreet $0 $0 $0 TIF 2-11 Super Valu $2,408,000 $1,790,665 $617,335 5th Avenue Flats $0 $2,000 ($2,000) TIF 1-4 Marketplace & Main $125,000 $120,950 $4,050 Tiered rate structure to be implemented Jan 1 Three bond issues outstanding Repairs & Main – pulling well 4 and 5 ($200,000) Water Fund 2016 2017 %age Budget Budget Incr (Decr) Revenues $1,553,500 $2,209,405 42.22% Expenditures $1,693,261 $1,885,916 11.38% Revenues over (under) Expenditures ($139,761) $323,489 331.46% 10/7/2016 6 Street Improvements ‐ $1,700,000 Residential Street Improvements‐ $1,500,000 8th Avenue Artery project ‐ $200,000 Equipment/projects ‐ $220,000 ¾ Ton Utility Truck ‐ $30,000 SCADA upgrade ‐ $90,000 Water treatment plant ‐ $100,000 Water Projects Rate study completed and to be implemented by Jan 1. Met Council fees increased 3% – 56% of total expenses Three bond issues outstanding Sanitary Sewer Fund 2016 2017 %age Budget Budget Incr (Decr) Revenues $2,277,200 $2,932,504 28.78% Expenditures $2,607,944 $2,670,896 2.41% Revenues over (under) Expenditures ($330,744) $261,608 179.10% 10/7/2016 7 Projects‐ $1,300,000 Residential Street Improvements – $500,000 8th Avenue Artery project ‐ $100,000 Reconstruct Lift Station #7 ‐ $700,000 Equipment ‐ $541,000 Jet Vactor ‐ $425,000 Generator ‐ $36,000 SCADA upgrade ‐ $80,000 Sanitary Sewer Projects No rate increase scheduled Three bond issues outstanding Storm Sewer Fund 2016 2017 %age Budget Budget Incr (Decr) Revenues $804,000 $818,400 1.79% Expenditures $504,496 $497,049 -1.48% Revenues over (under) Expenditures $299,504 $321,351 7.29% 10/7/2016 8 Capital Improvements ‐ $1,116,000 Storm Drainage Maintenance – Alley Repairs – $111,000 Residential street improvements ‐ $600,000 8th Avenue Artery – $305,000 Westbrooke Way/Smetana Road drainage improvements ‐ $100,000 Storm Sewer Projects Recycling Fee $5.00 per month Disposal Rates (per month) 30 ‐ $17.85 60 ‐ $21.85 90 ‐ $25.30 Refuse Fund 2016 2017 %age Budget Budget Incr (Decr) Revenues $981,167 $1,007,400 2.67% Expenditures $940,973 $948,876 0.84% Revenues over (under) Expenditures $40,194 $58,524 45.60% 10/7/2016 9 Programs under Refuse Bulk Collection Yard Waste/Leaf Collection Recycling Brush Service Disposal Capital – None Refuse Fund –c o n t . Staffing – 2 FT, 1 PT and seasonal PT staff Increase hours of PT from 20 hrs to 30 hrs a week plus benefits One bond issue outstanding for Ice Resurfacer Pavilion Fund 2016 2017 %age Budget Budget Incr (Decr) Revenues $449,600 $469,100 4.34% Expenditures $454,477 $460,817 1.40% Revenues over (under) Expenditures ($4,877) $8,283 269.84% 10/7/2016 10 Programs of the Pavilion Ice Rental – rental of ice time Soccer – turf rent and leagues Dry Floor – rentals Mezzanine – rentals and leases Capital None for 2017 Pavilion Fund –c o n t .