Memo - Depot Mid-Year financial and year-end projection
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ADMINISTRATIVE SERVICES
DEPARTMENT
. MEMORANDUM
To: Honorable Mayor and members of the City Council
FROM: Steve Stahmer, Assistant to the City Manager ~S
CC: Steve Mielke, City Manager
DATE: August 1, 2003
SUBJECT: Depot Mid-Year Financial Position and Year-End Projection
This memo/discussion is intended to update the Council regarding the status of The Depot's
current and projected financial position for 2003.
Through July, The Depot has total year-to-date revenues of $125,993 and has incurred
expenses totaling $119,221. This amounts to a positive fund balance of approximately
$6,771 as of July 31,2003. If grant funds are subtracted from revenues and grant
commissions are subtracted from expenses, The Depot has generated monthly revenues
averaging approximately $8500 and monthly expenses of just under $16,000 through July 2003.
These figures include both Teen Center and Coffee Shop revenues and expenditures.
.
Based on the current pattern of revenues and expenses through July 2003, The Depot is
projected to have total year-end revenues of approximately $178,000 and year-end
expenses of $199,000. However, no City subsidy will be required, as this revenue projection
does not include the School District lease payment (Ievy-for-Iease) which Finance Director Lori
Yager can bill to the School, as necessary, to cover any shortfall. Essentially, Ms. Yager is able
to charge the School District only what is needed to cover costs for this year, while reserving the
unused portion of the levy-for-Iease dollars for use in 2004 and 2005. Based on these projected
year-end revenues and expenses, it is expected that $21,000 would be charged to the School
District as a 2003 lease payment, bringing The Depot year-end fund balance up to zero. A
larger or smaller figure can be charged to the School District to the extent that actual revenues
and expenses vary from this projection.
The Depot has received approximately $76,000 in grants for 2003, primarily for general
operating purposes. In addition, several thousand dollars have been donated to help fund cost
of providing a police presence at The Depot on event nights.
For 2004, The Depot has been awarded grants totaling $60,000. This figure includes the
second of two $10,000 payments from the McKnight Foundation (two-year grant for, $10,000
each year) and the $50,000 Title V JJAC grant administered by the State of Minnesota. The
2004 Title V JJAC grant is a reauthorization of the grant that The Depot received this year. Staff
has been told by the grant administrator, Carrie Wasley, that the reapplication is essentially a
formality and that all recipients who received first year funding in 2003 will also receive funding
for 2004.
With regard to Depot organizational structure and mission, the attached "Conceptual
Organizational Chart for Depot Programs" outlines recent City staff discussions concerning the
structure of The Depot and the roles of the City and other partners.
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If I can be of further assistance in answering or researching any questions you may have,
please let me know.
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.
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Conceptual Organizational Chart for
Depot Programs
Depot Facility
~- ,
: I' ,
" l
Teen Center Business Park District Rentals
Education Trailhead
Program
Recent City staff discussions have centered around the concept of The Depot as a facility
made up of separate, but somewhat interdependent programs. Programs include the
Depot Teen Center, the Business Education Program, the Park District's Trailhead, and
Facility Rentals.
Teen Center. With direction from the Student Board of Directors and the Teen Center
Coordinator, the Teen Center would continue to plan and implement teen activities such
as Friday Night Concerts and other special events. In cooperation with the business
education program (i.e., coffee shop, etc.), the Teen Center would also remain "open" for
drop-ins when no planned programming is scheduled. The Teen Center would continue
to be supported primarily by grants and contributions. The Depot Partners would
continue to serve in an advisory and oversight capacity.
Business Education Program. This program consists of a working business to serve as
a Business Lab for the Hopkins High School Business Department. The Coffee Shop has
recently begun to fill this role. The Business Department, in cooperation with the Depot
business/operations manager, will take the lead in developing the educational curriculum
and designing a viable business model. In addition to business revenues, The Depot levy
for lease set by the School District would help fund for this program.
Park District Trailhead. Currently The Depot serves as a trailhead for the SW Regional
LRT Trail operated by the Three Rivers Park District. The City of Hopkins' lease with
the Hennepin County Regional Railroad Authority contains provisions related to the
trailhead and stipulating the minimum responsibilities the City has with regard to it's
~'t J
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operation (e.g., hours during which The Depot is expected to remain open). The Park
District has made capital improvements to The Depot grounds. It may be appropriate to
invite the Park District to serve as an official Partner on the Depot Partners Board.
Rentals. The Depot is occasionally rented out for private events, during which time the
building, or a part ofthe building, is closed to the general public. Through June, ,
approximately $2,300 has been collected for rentals 2003. A new curtain/room divider
has recently been installed and may make The Depot more attractive as a rental facility
for special events, meetings, etc. The Rental "program" would be the responsibility of
the Depot Operations Manager.
Discussion Among The Depot Partners
While City staff believes that The Depot Coffee Shop/business may be able to increase
revenues and/or lower expenses to the point where the business itself breaks even or
makes a small "profit," staff also feels that it is very unlikely that the business can ever
truly generate enough revenue to significantly support the teen center, as was the original
goal. Under this new proposed approach, the goals of providing a safe, chemically- free
gathering place for teens would remain, but the method of delivery and the responsible
organization/staff may change somewhat. For instance, the School District would be the
driving force behind The Depot Coffee Shop/business for business education purposes.
For such a shift in thinking/focus to occur among The Depot Partners as a whole, the
Partners Board will need to reach a consensus with regard to The Depot's ongoing
structure and mission.
, ~ ~
. 12% Exercise
2004 Budl!et Discussions
According to projections from the finance department, the city's general fund could run a deficit
funding of approximately 12% in 2004, even after the cuts and transfers implemented in 2003.
Over the last several months, different approaches to resolving the upcoming budget shortfalls
have been discussed. Recently, the City Manager has asked that each department come up with
realistic cuts within their departments to match the 12% shortfall the city is projected to
experience. Each department has submitted their cuts to the City Manager for his review.
. Managers Budget Proposal
Some options to offset the budget shortfall for 2004 and beyond include use of fund reserves,
program or expenditure reductions, increased taxes and new fees. The City Manager has
submitted a budget proposal that includes some of each of the above options. Using fund
reserves is a very temporary fix because the city is at its' recommended amount to carry itself
through until the first tax distribution in June of each year. Cutting expenditures must include
reductions in personnel because almost 80% of our general fund expenditures are related to
personnel. Increasing the tax levy can be painful for residents and business alike. New fees,
such as franchise fees, are primarily viewed as just another tax.
.
The proposed budget to be discussed includes $50,000 use of reserves, expenditure reductions of
$557,000, new franchise fees of $243,000, ($2/mo.) and increased general fund tax levy of
$255,000, ($4.60/mo.). The impacts of these proposals are to be discussed during the meeting.
Following is a summary of cuts by department:
reduced contingency amount
reduced travel, memberships, lodging & conferences
eliminate wellness program, eliminate city picnic, reduce
conference and membership fees, reduce advertising
process 25% of payments over the web, reduce travel,
memberships, lodging & conferences
Legal eliminate presence at commission meetings
Community Servo contract assessing services out
Police eliminate K-9, school liaison, police officer, secretary and
police banquet, create halftime secretary $113,000
reduce to 36 volunteers from 41, eliminate prevention supplies $ 34,200
eliminate teen program & additional cuts yet to be determine $ 35,000
eliminate three maintenance workers, one supervisor and
change supervisor to lead worker
operate single rink at central park, eliminate senior services
eliminate overtime, transfer secretary time to Section 8
Unallocated
Council
Administration
Finance
Fire
Activity Center
Public works
Recreation
Planning
$ 12,000
$ 11,000
$ 12,600
$ 3,000
$ 3,000
$ 75,000
$218,000
$ 31,300
$ 8,900
The assumptions in the budget include provisions for salary and benefit increases.
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[,
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. September 2,2003, Preliminary Tax Levy Adoption
The deadline for adopting the preliminary tax levy for taxes payable in 2004 is September 15,
2003. A notice regarding the establishment of the preliminary tax levy will need to be published
in the Sun Sailor by August 28' 2003. To enable staff to meet this deadline the council will need
to determine at this work session what the preliminary levy should be for 2004. The new levy
limit for the City of Hopkins is $6,829,321, an increase over last year of$661,884. The large
increase in the levy limit is allowed this year for the loss of state aids. Historically, the city
council has proposed the levy limit as a preliminary amount and then reviewed the budgets and
the impacts of the levy to determine an appropriate final levy in December. In addition to the
general levy, the city will need to levy for debt and for the Housing and Redevelopment
Authority (HRA) activity. The proposed levy for debt is $1,317,000, an increase over last year of
$434,000. The proposed levy for the HRA is $110,000, an increase of $4,000 over last year. Tax
classification rates remained relatively unchanged except apartment complex rates dropped .25%
from 1.5% in 2003 to 1.25% in 2004. The overall tax capacity in Hopkins went up in 2004
helping to keep the tax rated down.
. 2003 Public Hearings for the 2004 Budget and 2003/2004 Tax Levy
The City of Hopkins is required to hold public hearings in regards to the 2004 levy and budget.
The city is notifying the public regarding the preliminary levy and proposed budget meeting at
the regular September 2nd Council meeting. On September 2nd the Council should adopt a
. preliminary levy for certification to Hennepin County.
Staff is also recommending the City Council set it's public hearing dates regarding the budget
and levy for a special meeting on Monday, December 8,,2003, with final adoption on December
16,2003.
. Next Steps
Town meeting on September 30, 2003
Review department budget requests
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MANAGERS PROPOSED LEVY
. INCLUDES GENERAL FUND, DEBT SERVICE, HOUSING & REDEVELOPMENT and PERA
HISTORIC, CURRENT AND PROJECTED TAX LEVIES AND CITY TAX RATES
Total City
Levy Total Levy Tax Tax Gross
Payable Before Tax HRA Debt PERA Levy Capacity T ax Levy
Years Credits Capacity Tax Levy Tax Levy T ax Levy After Cred its Rate Increase
2006/07 8,438,785 14,673,105 122,000 1,287,000 11,815 7,356,563 50.14% 2.10%
2005/06 8,265,378 14,273,486 118,000 1,322,000 11,815 7,244,414 50.75% 2.96%
2004/05 8,027,925 12,623,287 114,000 1,287,000 11,815 7,069,273 56.00% 2.12%
2003/04*** 7,861,252 11,876,836 110,000 1,317,000 11,815 6,965,316 58.65% 9.67%
2002/03** 7,168,252 11,140,721 106,000 883,000 11,815 6,334,823 56.86% 8.76%
2001/02* 6,591,140 10,658,607 100,000 342,000 11,815 5,850,411 54.89% 9.78%
2000/01 6,003,993 13,451,366 342,000 4,314,233 32.07% 6.00%
1999/00 5,664,144 12,526,355 330,000 4,022,438 32.11 % 5.23%
.98/99 5,382,640 11,749,302 330,000 3,811,583 32.44% 3.63%
1997/98 5,194,184 11,936,742 330,000 3,635,016 30.45% 0.30%
1996/97 5,178,800 13,194,123 739,663 3,647,887 27.65% 1.21%
1995/96 5,117,000 12,902,081 578,574 3,682,276 28.54% 3.30%
1994/95 4,953,600 12,981,406 573,947 3,510,380 27.04%
* NO HACA
* * First portion of new facility bonds levied
* * * Levy for second portion of new facility bonds and no local government aid.
.
Page 4
LEVY LIMIT
INCLUDES GENERAL FUND, DEBT SERVICE, HOUSING & REDEVELOPMENT and PERA
HISTORIC, CURRENT AND PROJECTED TAX LEVIES AND CITY TAX RATES
Total City
Levy Total Levy Tax Tax Gross
Payable Before Tax HRA Debt PERA Levy Capacity Tax Levy
Years Credits Capacity Tax Levy Tax Levy Tax Levy After Credits Rate Increase
2006/07 8,883,398 14,673,105 122,000 1,287,000 11,815 7,801,177 53.17% 2.14%
2005/06 8,697,042 14,273,486 118,000 1,322,000 11,815 7,676,078 53.78% 2.96%
2004/05 8,447,016 12,623,287 114,000 1,287,000 11,815 7,488,364 59.32% 2.16%
2003/04*** 8,268,136 11,876,836 110,000 1,317,000 11,815 7,372,200 62.07% 15.34%
2002/03 * * 7,168,252 11,140,721 106,000 883,000 11,815 6,334,823 56.86% 8.76%
2001/02* 6,591,140 10,658,607 100,000 342,000 11,815 5,850,411 54.89% 9.78%
2000/01 6,003,993 13,451,366 342,000 4,314,233 32.07% 6.00%
1999/00 5,664,144 12,526,355 330,000 4,022,438 32.11% 5.23%
.98/99 5,382,640 11,749,302 330,000 3,811,583 32.44% 3.63%
1997/98 5,194,184 11,936,742 330,000 3,635,016 30.45% 0.30%
1996/97 5,178,800 13,194,123 739,663 3,647,887 27.65% 1.21 %
1995/96 5,117,000 12,902,081 578,574 3,682,276 28.54% 3.30%
1994/95 4,953,600 12,981,406 573,947 3,510,380 27.04%
* NO HACA
* * First portion of new facility bonds levied
***Levy for second portion of new facility bonds and no local government aid.
Page 4