Loading...
HomeMy WebLinkAbout06.08.15 Work Session Packet City of Farmington Mission Statement 430 Third Street Through teamwork and cooperation, Farmington,MN 55024 the City of Farmington provides quality services that preserve our proud past and foster a promising future. AGENDA CITY COUNCIL WORKSHOP June 8, 2015 6:30 PM Farmington City Hall 1. CALL TO ORDER 2. APPROVE AGENDA 3. DISCUSSION ITEMS (a) Draft 2016 General Fund and Debt Fund Budgets 4. CITY ADMINISTRATOR UPDATE 5. ADJOURN 404 City of Farmington 430 Third Street r a Farmington, Minnesota 651.280.6800 -Fax 651.280.6899 °",,,*ploW. www.ci.farmington.mn.us TO: Mayor, Councilmembers and City Administrator FROM: Robin Hanson, Finance Director SUBJECT: Draft 2016 General Fund and Debt Fund Budgets DATE: June 8, 2015 INTRODUCTION Please refer to the attached cover memo and supporting documentation. ATTACHMENTS: Type Description D Cover Memo Draft 2016 General Fund and Debt Levy Review 20150608 o Backup Material General Fund Budget Summary For 20150608 Workshop D Backup Material Gen'l Fund Revenue Summary For 20150608 Workshop © Backup Material Gen'l Fund Expenditure Summary For 20150603 Workshop © Backup Material Debt Service Fund Summary Base 2015 For 20150603 Workshop © Backup Material 2016 IT Chargeback Analysis D Backup Material Data Processing Chargback 2016 -Prelim - Council =oi i City of Farmington � c 430 Third Street 7` '' Farmington,Minnesota VX10 651.280.6800•Fax 651.280.6899 'T•4 PRpy1�`A www ci.farmington.mn.us TO: Mayor, Council and City Administrator FROM: Robin Hanson, Finance Director SUBJECT: Draft 2016 Budget DATE: June 8,2015 INTRODUCTION: Attached for your review are the summary pages for the draft 2016-2017 General Fund and Debt Service Funds budget and tax levy. The proposed budgets for the remainder of the funds will be reviewed during your July workshop. The budget was developed with the intent of continuing to provide the core General Fund services, continuing to fund the long-term financial planning pieces you have previously put in place and to support your Strategic Plan. DISCUSSION: The original budget requests were due at the end of May and would have required a net tax levy of$10,637,295,which would have been a 16.1% increase over the current tax levy. After reviewing the various budgets with management group,the first round of budget revisions were made resulting in a net$601,491 reduction in the net tax levy to $10,028,551,which would be a 9.4%increase in the current tax levy. Staff realizes the proposed budget is too high and requires additional work. The budget construction is a complicated process with many different moving and inter-related pieces. At this stage staff would like to provide you with an opportunity to review the current budget draft and to discuss a couple of specific items before proceeding to the next round of revisions. The current 2016 draft General Fund budget summary is as follows: 2016 2015 Proposed Increase Budget Budget (Decrease) Revenues $3,140,207 3,023,837 ($116,370) Expenditures 11,482,624 11,958,620 475,996 Fiscal Disparities 2,237,937 2,077,080 ($160,857) General Fund Levy 6,104,480 6,857,703 753,223 Debt Levy 3,059,728 3,170,848 111,120 Farmington Net Tax Levy $9,164,208 $10,028,551 $864,343 9.4% Revenues When compared to the 2015 amounts,the 2016 revenue estimates have been reduced by approximately$116,370. The following reasons explain the major changes: Permits Due to the limited availability of new construction lots in the city,the building permit revenue has been reduced$100,000. Intergovernmental Based on recent history the combined police and fire aid revenues have been increased $30,000. Charges for Service The budget assumes the pool is closed after the 2015 season. As a result,pool related revenues have been eliminated,resulting in a decrease in charges for services revenues of $67,000. Miscellaneous Revenue The 2015 miscellaneous revenue budget included a one-time $60,000 allocation for the restructuring of the fire department and included a$21,000 carryover from 2015 for a concrete apron replacement project at Fire Station#1. These two items are not included in the 2016 budget and represent a combined$81,000 reduction in the 2016 miscellaneous revenue estimate. Transfers In The transfers in line item was increased approximately$64,000 to provide for the transfer in from the utility funds monies to pay for the hiring of an additional one-half time utility billing person in the finance department and a 3% inflationary increase on the base transfers in amount. Expenditures When compared to the 2015 amounts,the 2016 expenditure estimates have increased by approximately$475,996. Human resources, information technology and data processing charges affect all of the department budgets. Following is a summary of their overall impact. Human Resource Costs All of the budgets include estimated human resources costs. The City's four union contracts expire later this year and at this time the health insurance and worker's compensation premium amounts for future years are unknown. In addition the State's phased in minimum wage increases continue with another planned increase August 1, 2016. One final item to consider is the federal government is looking to expand the number of worker's eligible for overtime pay. Information Technology and Data Processing Costs The majority of budgets have also seen an increase in their technology related costs as the City continues to expand the use of technology,provide ongoing technology support and upgrade hardware and software, as needed. Your packet includes a spreadsheet detailing the allocation of the city's IT support, software, computer and network hardware, and phone costs to the various funds as well as the city's data processing charges. In addition,to the impact of human resource costs, information technology and data processing charges described above, the following reasons explain the major changes in the various department budgets: Administration There are three items to note in the administration budget: 1)the community survey ($20K) is conducted every other year; it was last conducted in 2015, so there is no funding for the survey included in the 2016 budget, 2)the human resource costs related to the front desk staff person who reports to the finance director were moved to the finance department budget to align with reporting lines, and 3)to avoid duplication,the 2015 budget for city hall (had to be factored in somewhere) included a negative $32,000 placeholder for LGA funds received in the General Fund that were being used for one- time items there were already allocated across the various departments in the IT chargeback. Human Resources Funds have been budgeted to assist with the additional compliance reporting required by the Affordable Care Act and increased monies for drug and alcohol testing, as well as safety training. Finance and Risk Management The human resource costs for one staff person previously included in the administration budget were reclassified to the finance department to align with reporting lines and an additional one-half time person was added mid-way through 2015,their full salary and benefits are included in the 2016 and 2017 budgets. The Risk Management budget reflects the increased premium costs for property and casualty insurance. Police Aside from increased human resource costs the police budget includes monies to upgrade equipment to work with the new CAD mobile product and funding to provide hearing protection for 50%of the department's long-guns (the remaining 50%is included in the 2017 budget). Similar to last year,the budget for replacement vehicles is included in the transfer out to the General Equipment Capital Projects Fund. Fire For 2016 and 2017 the Fire and Rescue budgets have been combined. On the General Fund Expenditures Detail Summary you will see actual amounts listed for the two different departments through 2015,but beginning January 1,2016 these amounts will all be reported under the Fire department. The fire department budget is a work in process. Chief Larsen began working for the city just days before the budget was due. He has been working hard and very quickly to understand the fire department's operational and capital needs. Their needs are greater than the city can afford to address in a single budget year. So,he continues to work with fire department members to gather additional information to assist him with prioritizing their requests. He will be available at the Council meeting to review what he has learned and describe for you the various needs he is being asked to prioritize. Community Development For 2016 and 2017 the Planning and Building Inspection departments have been grouped together under the heading Community Development. The increase in the Planning budget primarily relates to the movement of one staff person's human resource costs from the Engineering department to the Planning department to align with reporting lines. Engineering The Engineering budget decreased primarily due to the movement of one staff person's human resource costs from the Engineering department to the Planning department to align with reporting lines. Municipal Services The Snow Removal Services budget includes a$10,000 increase which reflects both the increased cost of salt and quantities used. Parks and Recreation The proposed budget reflects the closing of the pool at the end of the 2015 season. For 2016 and 2017 the salaries related to the full-time staff person assigned to the pool remain under the pool budget with staff recommending these hours be reallocated to other needs within the city, such as, building maintenance and/or the ice arena for summer ice needs. The 2016 budget also provides $45,000 for the demolition and filling- in of the existing pool. The budget does not provide funding for a splash pad or any other replacement aquatic facility. Permanent Levy Adjustment and Delinquency Experience The 2016 budget reflects the actual permanent levy adjustment the city recorded in 2015. Transfers Out The Transfers Out line item, $906,607, is comprised of two parts: LGA items and General Fund(non-LGA items). The proposed LGA funded items are listed in the first table,while the proposed General Fund(non-LGA funded items) are listed in the second table. Summary of Proposed LGA Uses Description Amount Fire CIP $205,000 Streets&Equipment CIP Gap Funding* $71,607 Total $276,607 , Summary of General Fund (non-LGA) Uses Description Amount EDA $40,000 Fire CIP $90,000 Recreation Capital Projects Fund—Arena $20,000 Capital Equipment Fund—2 Squads $85,000 Sealcoating $350,000 Trail Maintenance $30,000 Building Maintenance $15,000 Total $630,000 *The current Streets &Equipment CIP plan does not provide for any replacement vehicles until 2020. This 2016 allocation, along with the 2015 allocation, helps bridge that gap. Specifically, Todd Reiten would assess the City's vehicles and determine if there are vehicles for which it no longer makes sense to repair. A recommendation would then be made to Council before this money was spent. Remaining monies, if any,would be captured in this fund to address the next vehicle replacement(s)when it is needed. The budget envisions that if LGA continues in 2017 and beyond a similar funding mechanism would be used to bridge the time from now until in 2020 when capital equipment funding began in the CIP. Fiscal Disparities—This amount will be finalized in August. Staff estimates the amount will be $2,077,080, a decrease from 2015 of$160,857. Debt Service Funds Levy The Debt Service Fund budget provides funding for scheduled debt principal and interest repayment obligations, as well as ongoing trustee, assessments, arbitrage and post-issuance compliance fees related to the City's debt; it continues to strengthen the cash flow for various debt issue as the City continues to work toward full compliance with the 105%funding requirement; recognizes the adjusted timing for some special assessments and provides funding for the 195th Street Reconstruction bonds the city will issue later this year. Tax Notes A brief history of the tax levy changes is listed below: 2010 2.39% 2011 3.42% 2012 0.00% 2013 0.00% 2014 1.92% 2015 4.96% The residential homeowner's estimated market value(EMV) for next year increased from $199,426 to $213,155, an increase of 6.88%. The County estimates the market value for new construction in Farmington is $23.4 million. This translates to $256,935 in new tax capacity. Applying the city's 2015 tax rate to this amount would result in$157,899 of tax levy related to new construction or 1.49%. It is too early to talk about the estimated increase to the average residential homeowner's property taxes as staff knows it still has considerable work to do to further lower the proposed 2016 tax levy. Additional Notes Specific items to discuss: 1. Plans for the existing pool. The 2016 budget assumes the pool is closed at the end of the 2015 season,the full-time staff hours are redirected to another area(s)within the city and the pool is filled in. There are no provisions for a splash pad or new aquatic facility in this draft. 2. Bond refinancings: a. The draft budget assumes the 2005C bonds are redeemed on 2/1/16 utilizing an internal advance from the Storm Water Trunk Fund and that the advance is repaid from future debt levy. b. The draft budget does not provide for the 2007A bond refunding as staff needs further direction from Council on this issue. Staff had hoped the City would be able to refund the portion of the 2007A bond issue attributable to the vacant space at city hall on a taxable basis,thereby alleviating the IRS rules which significantly limit to whom the city can rent that space. Unfortunately, the IRS rules are not user friendly as they require the following: i. The city would need to be conservative and allocate common areas (elevators etc.) either on a pro-rata basis or entirely to the private use, which further increases the size of the taxable bond financing(i.e. more expensive). ii. The timing of the refunding is restricted to the timing of the commencement of private use. If the city redeemed the bonds today, we would have approximately nine months to enter into the private party arrangement. But you need to know who this private party is ahead of time and enter into a lease with them for a delayed occupancy date. iii. The taxable bonds would have to take out the longer maturities of the 2007A bonds,not a pro-rata redemption of the various maturities. This means the city's internal advance would be outstanding longer, because the earliest principal could be begin to be retired would be in 2023 (i.e. 5 years after the call date which is 2/1/17). c. With regard to the 2016 debt levy,the budget assumes the timing of the VRC assessments has been delayed. In the interim the City will need to rely on an advance from the Road and Bridge Fund to pay a portion of the debt service for the 2013A bonds. BUDGET IMPACT: All information is related to the development of the 2016 city budget and tax levy. The 2017 projected budget numbers have had minimal review;they are a work in progress. Updated amounts will be included in the next version of the General Fund budget for your review. ACTION REQUESTED: At this point staff would like to update you on the following items and have you provide feedback on how you would like staff to proceed. 1. Plans for the existing pool 2. 2007A bond refunding Department heads will be in attendance at the work session to answer any questions you may have or provide additional insight into their proposed budgets. Respectfully submitted, Robin Hanson, Finance Director City of Farmington Budget and Tax Levy 2015 Budget,2016 Proposed and 2017 Proposed 2015 2016 Budget% 2017 Budget Change Company Budget Proposed Change Proposed % lon-Property Tax Revenues Licenses and Permits 483,220 385,905 (20.14)% 371,490', (3.74)' Intergovernmental Revenue 760,857 790,857 3.94% 778,857 (1.52)' Charge for Service 558,950 530,700 (5.05)% 514,200 (3.11)' Fines and Forfeitures 72,000 65,000 (9.72)% 65,000 0.00' Investment Interest 20,000 18,462 (7.69)% 18,462; 0.00' Miscellaneous 121,000 44,685 (63.07)% 45,685 2.24' Transfers In 1,124,180 1,188,228 5.70% 1,223,880 3.00' Total Revenues 3,140,207 3,023,837 (3.71)% 3,017,574 (0.21)' :xpenditures Administration 829,877 824,011 (0.71)% 935,580 13.54' Human Resource 263,344 280,010 6.33% 290,502 3.75' Finance and Risk Mgmt 614,019 713,926 16.27% 754,510 5.68' Police 4,114,992 4,238,336 3.00% 4,331,982 2.21' Fire 1,042,717 1,157,984 11.05% 1,386,876 19.77' Community Development 526,475 602,987 14.53% 693,933 15.08' Engineering 698,835 659,265 _ (5.66)% 691,829 4.94' Municipal Services 1,289,684 1,335,022 3.52% 1,396,373 4.60' Parks and Recreation 1,276,674 1,235,093 (3.26)% 1,210,562 (1.99)' Perm Levy Ad)('15;16;17) 30,000 5,379 (82.07)% 30,000 457.72' Transfers Out 796,007 906,607 13.89% 911,607 0.55' Total Expenditures 11,482,624 11,958,620 4.15% 12,633,754 5.65' :avenues Over(Under)Expenditures (8,342,417) (8,934,783) 7.10% (9,616,180) 7.63' iscal Disparities 2,237,937 2,077,080 (7.19)% 2,077,080 0.00' ieneral Fund Levy 6,104,480 6,857,703 12.34% 7,539,100 9.94' Iebt Levy Debt Levy-Bonds 2,939,728 3,050,848 3.78% 3,184,903 4.39' Debt Levy-Fire Truck 120,000 120,000 0.00% 117,562 (2.03)' Total Debt Levy 3,059,728 3,170,848 3.63% 3,302,465 4.15' ,g Credit 0 Farmington Net Tax Levy 9,164,208 10,028,551 9.43% 10,841,565 8.11' Components of 2016 Proposed Levy Increase: Change % of 2015 Levy Decreased revenues, excluding fiscal disparities $116,370 1.3% Decreased fiscal disparities $160,857 1.8% Increased HR resource costs $233,842 2.5% Increased debt levy $111,120 1.2% Fire, including IT $60,736 .7% IT support, software and hardware, excluding fire $46,278 .5% All other departments $135,140 1.4% Grand Total $864,343 9.4% )cation: Documents\FARMINGTON\Budget 2016-2017\1 General Fund Budget Summary Page 2015 Base '3/2015 1:07:57 PM General Fund Detailed Non-Property Tax Revenue Summary 2014 Budget,2015 Budget, 2016 Proposed and 2017 Proposed Object 2014 2015 2016 2017 Account Budget Budget Proposed Proposed LIQUOR LICENSES 26,000 29,6001 31,000 29,6001 BEER&WINE LICENSES 2,800 2,200 2,200 2,20011 CLUB LICENSES 300 500 300 5001 ARCADE LICENSE 655 520' 655 540 MASSAGE LICENSE 850 100 100 100 GAMBLING LICENSE/PERMIT 300 1501 200 200 j OTHER LICENSE&PERMIT 2,500 1,4001 1,900 1,2001 r ANIMAL LICENSES 8,600 1,200, 5,000 3001 Licenses 42,005 35,670 41,355 34,6401 BUILDING PERMITS 315,000 380,000 280,000 280,000 REINSPECTION FEES 400 8001 600 600 PLUMBING&HEATING PERMITS _ 32,568 35,000 J 32,000 30,000' SEWER PERMITS 5,000 5,000 5,000 5,000; • ELECTRIC PERMITS 7,100 12,000 12,000 12,000' ISTS PERMITS 500 3501 350 350 COUNTY SEPTIC FEE _ UTILITY PERMITS 5,500 5,500 5,500 1 STREETBREAKING PERMITS 0 0' SIGN PERMITS 500 500 500 500 I BURNING PERMITS 4,300 4,300 4,500 4,300 OTHER PERMITS 5,000 4,100, 4,100 4,100 Permits 375,868 447,5501 344,550 336,850 Licenses and Permits 417,873 483,220 385,905 371,490 FEDERAL GRANT 0 0 LOCAL GOVERNMENT AID 245,329 276,607 276,607 276,607 MSA MAINTENANCE 163,150 190,000 190,000 190,000 POLICE AID 160,362 170,000 180,000 170,000 POST TRAINING 14,000 25,000 27,000 25,000 FIRE AID 92,000 92,000 110,000 11.0,000; STATE GRANT 2,000 2,000_ 2,00.0_ MARKET VALUE CREDIT 3,000 0 1 COUNTY MISCELLANEOUS 5,250 5,250 5,250 5,2501 OTHER MISCELLANEOUS 800 0' 1 Intergovernmental 683,891 760,857 790,857 778,857 CUSTOMER SERVICES NONTAXABLE 600 6001 ZONING&SUBDIVISION FEES 3,000 1,600 0 0 ADMINISTRATION FEES-PROJECTS 500 250 j 0 0 FIRE CHARGES 164,000 175,000' _ 215,000 200,000 POLICE SERVICE CHARGES 112,500 75,000 75,000 75,000 EROSION&SEDIMENT CONTROL 10,500 10,500 12,000 10,500 PUBLIC WORKS MISC CHARGES 200 300 0 01 RECREATION FEES-GENERAL 100,000 97,000 96,000 96,0001 POOL ADMISSIONS 38,000 40,000 0 0 SWIM LESSON FEES 17,000 14,000 0 01 CONCESSIONS 10,000 13,000' 0 0 RECREATION FEES-SENIOR CTR 11,000 16,000 18,000 18,000 1 ' MEMBERSHIP FEES-SENIOR CTR 14,000 13,000 12,000 12,0001 ADVERTISING 0 500 500 500! )cation: Documents\FARMINGTON\Budget 2016-2017\1.1 Gen'I Fund Revenue Summary 2015 Base Page 1 of General Fund Detailed Non-Property Tax Revenue Summary 2014 Budget,2015 Budget, 2016 Proposed and 2017 Proposed Object 2014 2015 2016 2017 Account Budget Budget Proposed Proposed - - --- - - � - ------ ADVERTISING 1,800 2,200 1 2,200 2,200 SALES OF ASSETS 2,000 0 I 0 0 FRANCHISE FEE - 100,000 100,000� 100,000, 100,000 Charges For Services _ 585,100 558,950 530,700 514,200 COURT FINES 70,000 72,000 I 65,000' 65,000 1 CODE VIOLATIONS&ADMIN FINES 800, 0 Fines'&Forfeitures 70,800 72,000 65,000 65,000 INTEREST ON INVESTMENTS 55,000 I 20,000' 18,462' 18,462 GAIN/LOSS INVEST MKT VALUE Investment Income 55,000 - 20,000 18,462 18,462 MISCELLANEOUS REVENUE 5,500 86,000 I 5,000 I 5,000 CASH OVER&SHORT RENTAL INCOME-RRC 13,000 18,000 20,000 21,000 i RENTAL INCOME-POOL 3,000 3,000 0 0 1 RENTAL INCOME 14,000, 14,000 19,685' 19,685 DONATIONS 0 0, , Misc Revenue , , 35,500 121,000 44,685 45,685 OPERATING TRANSFERS 1,086,6121 1,124,1801 1,188,228! 1,223,880 Transfers In 1,086,612 - 1,124,180 1,188,228 1,223,880 -Total Revenues $2,934,776 -$3,140,207 $3,023,837 $3,017,574 )cation: Documents\FARMINGTON\Budget 2016-2017\1.1 Gen'I Fund Revenue Summary 2015 Base Page 2 of General Fund Expenditure Detail Summary 2014 Budget,2015 Budget 2016 Proposed and 2017 Proposed Company 2014 2015 2016 2017 Budget Budget Proposed Proposed Expenditures Administration Legislative(1005) 73,574 109,514 87,406, 113,216 Historical Preservation(1006) 7,500 7,500 7,455 7,500 Administration(1010) 457,204 419,7131 392,393 466,200 Elections(1013) 32,837 21,839 36,548. 36,660 Communications(1014) 85,923 100,641 102,521 104,852; City Hall(1015) 201,534 170,670; 197,688 207,152• ------ ------ -- -- ----- ---- -- Administration 858,572 829,877 824,011 935,580 Human Resources __... _. ---_ ----_--_ 251,726 263,344 280,010 290,5021 Human Resource(1011) 251,726 263,344 280,010 290,502 Human Resources 251,726 263,344 280,010 290,5021 Finance and Risk Management Finance(1021) 406,654 434,019' 523,926 544,510; Risk Management(1022) 155,500 180,000', 190,000 210,000 Finance and Risk Management 562,154 614,019 713,926 754,510 Police - - --- --- ----- i Police Administration(1050) 779,548 818,227 844,242 865,782 Patrol Services(1051) 2,520,076 2,516,154 2,711,587 2,768,945 Investigations(1052) 766,865 774,461 677,607 6.91,105 Emergency Management(1054) 6,150 6,150 4,900 6,150; Police 4,072,639 4,114,992 4,238,336 4,331,982 Fire-- - -- --- ----------------------- --- - 6, Fire(1060) 1,066,542 984,652 1,157,984 1,386,876; Rescue(1061) 54,724; 58,065 0 0 121266 1,042,717 � L F�reyL-_�..._ -- , - 1,157,984 1,386,876 Communi Develo mel nt 510,529 526,475 602,987 693,933 Planning(1030) 252,209'' 266,756 339,305' _ 423,474 Building Inspection(1031) 258,320'' 259,719; 263,682, 270,459 C ommunity Development 510,529- 526,475 602,987 693,933 Engineering Engineering(1070) 539,884 581,252 533,296 560,700 Natural Resources(1076) 105,360', 117,583; 125,969 131,129 .�;;�7„„,�� - _ _ - - ` �,,,,„�,I��,;,;,, ��hgineering 645,244 698,835 659 265 691,829 Municipal Services Streets(1072) 1,042,795 1,084,277; 1,104,963 1,148,384 Snow Removal(1073) 192,112 205,407, 230,059 247,989 Municipal Services 1,234,907 1,289,684 1,335,022 1,396,373 Parks and Recreation Park Maintenance(1090) 559,036 595,742 613,190, 629,537 Rambling River Center(1093) 153,287 169,751 173,2901 171,064 Park&Rec Admin(1094) 257,873 248,062 262,974 267,894 Recreation Programs(1095) 112,851 113,259, 113,407 114,290 Swimming Pool(1097) 139,168, 149,860, 72,232 27,777 'Parks and Recreation 1,222,215 1,276,674 1,235,093 1,210,562 ---- ------------ ----- ----------------_ Penn Levy Adj(2015&2016)and 1/3 Delq Exp(2016) i 30,000: 5,379 30,000] --- - - j Transfers Out 490,579.00 796,007.001 906,607.00, 911,607.00 , Transfers Out' 490,579.00` 796,007.00 906,607.00__911,607.00 , Total Expenditures 10,969,831 11,482,624 11,958,620 12,633,754 3/2015 1:51:29 PM Page 1 of Debt Service Funds Summary *Includes Fund 3005 (formerly 86A) as placeholder for Fire Truck loan, Fund 3093 as Placeholder for 2O15A 195th St Bond Issue 2014 Actual,2015 Budget, 2016 Proposed and 2017 Proposed Company Actual Budget Proposed Proposed 2014 2015 2016 2017 Revenues Property Taxes(i.e.Debt Levy) ! 2,857,711 3,059,728 3,170,848 3,302,465 Special Assessments 502,2991 489,607 466,817 447,368 Deferred Assessments(VRC) 18,073 0 Interest on Investments 1,825''. 01 24,745 Total Revenues 3,379,908 3,549,3351 3,662,410 3,774,578 Expenditures Principal Repayment 3,817,055 3,082,819' 4,527,474 3,285,834 Interest on Debt 1,069,463 973,822, 972,115 843,441 Debt-Fiscal Charges } 17,959 28,1621 28,623 27,186 Total Expenditures 4,904,476 4,084,8031 5,528,212, 4,156,461 Other Financing Sources _ Bond Proceeds 0 4,290,000 In 639,860 826,140 1,878,5521 343,552 Transfers Out (186,417)1 (4,437,000)'1 (117,000) (171,000) Total Transfers 453,443 1,761,5521 172,552 Change in Fund Balance (1,071,126) 143,672 (104,250) (209,331) 3/2015 11:14:36 AM Page 1 of '1 N H M C O Cl N Cl c A N > O 01 O 0 0 0 0 0 0 0 0 0 0 10 0 0 0 0 0 0 M O M O O M N 0 11 CO 0000- 00 IN ul c O N. O 0 0 0 0 0 0 O O O O O O O O O O N 00 O Ot O O N V1 0 V1 N 0 0 0 0 a 0 0 0 00 CD W V O 0 ,100 1O O, N O 0M O0 TO O O O u) 1D O O1 O m O to TD 01 co IN V 0000 t0 0 N '1 0 ,I F¢- 0 O 0 CO u1 01 '-i N 00 O N O '1 V O TO V u1 O Cr) O CO O CO M O N N N 0 0 0 IN N O 01 .ti , O O 0 .-1 LT O1 N vi .-i ,i 00 t0 00 ut o m o ui o o0 O t0 L ul of of O1 ut M■ I: .-i I: '-1 00 ri M N m co '1 N N N 't 0 N N m m ' '1 M .-1 TO Mi V N N N N N N N N N VT N VT VT N VT NNNNNNN VT N N N N V1 VT N N V N to co.N N N to N It N N 0 0 0 0 00 N 0 O M en N Ol M 0 0 ul 00 N 1A 00 01 m N m N u O O O O N N 0 V N M CO ' V1 A O 1A O N M V 0 '• Li.,W V1 a; 1 0 A V O 0 V A O ' N u M O 0 N 00 O 00 H u V M 0 . N M m I- '1 1D N M N V V V V 0 '1 01 M ID N 01 N 0 N N 1 10 0 Cr 0 N V < V al 01 01 M 01 10 CO N N N m m V V CO N u1 M Cl 00 O to NNtn.N N N N O N N N N,I. N N N 0 N N N VT VI VT to N N VT VT NI N N N 0 0 O O 00 N 0 0 0 M 0 M N M 1A 0p LA CO N V1 CO O M c • M u) V1 O O O O N N O 0 .704 O M CO V1 u1 O 1A 0 N 01 V O O .'1 01 u) 11 w N Cr; ' CO u1 V 01 0O V ut O O N 1A O M O 10 N 00 0 00 N u1 M Cl O N 'M+, M m UN to N 01 N V V V V O O .ti O) 0 M 10 N al N CO O 0 O V 01 '1 Cl M 01 10 00 00 N 1l1 N N M t0 e M CO N 1A M V 01 00 t0 1 M O .- N CC N V N VT N N N N N N N N N VT VT N to N N N V} VT N N Np N N VT N VT VT VT N NI N N N 0 0 0 0 CO N 0 Cr M M N O( M u1 1A 00 N 1A CO O1 m '1 o M u1 V1 O O O O n N O V N M 00 1A V1 V1 O N M V O '1 ul• 01 00 01 V T W V ul O u) M O tD N co 00 N N V M 01 . N M M OC F l0 M N V V V V O 0l M 10 N T N N 10 O V O N V O ¢ V m .-1 01 m T O co N N N M M V V 00 in M 01 co t0 I--• 3 M 0( e 1 or N N N N M N NNN N VTN 6 t to N N N N N VT VT N N N NN N N N I, N N 0 0 0 0 0 0 00 N 0 0 M M N 01 CO in 1A 00 N u) 00 01 0 M .-1 c m V1 Vt O O O O O O IN N O V N M CO '+ to V 1A O N M V 0 0 .■ N ul•10N M N O 0 V O 1 0N 0 , ' N M H 10 V co V -1 01 M 0 01 co co Cl N ID 0 V 0 V OV Ol N V m 01 M 01 10 CO 04 N N M 0 V V N 1A M 01 00 10 to r'r O or or M N �, N N N pN1 N N N VT VT VT VT N NN NNN N NNN N N NNN N VT N N: M 6 IN V^1 O O O O CO N n1 CD 0 O V N M en et CO '0i Vl 0 1A O N M V O 01 en en N L CC V1• Cl 1 00 Ill V 01 CO V u) O ' N ul M O 1D N 1 00 1 00 N V) a M 01 N M I M o 10 N M N V V V V 0 al M TO N 01 N N N 10 Q 0 N VII Q Ol O) M 01 10 CO N N N M M V V 00 1 m O 00 O V1 M 01 e4 '-1 Cr ."1 0 01 N N N UT N N N N VT N N N N N N N N N N N N N N N VT N N N N N M N- N N 0 0 0 0 CO N 0 0 0 M m N 01 M V1 in 00 N LA CO O 0 'Mt m..-• : V) N O O O O N N O 0 V N m W N V1 1 V1 ' 1A O N M V O O N LA Ol 00 1A V at 00 V ut O M N ut M O 10 V/ CO 00 V1 a CO O O N 10 M N TO N m N V V V V 0 10 0 Cl M 1D N 14 N N CO tD O V O 0 01 0 C V D1 0 O1 M 01 10 CO CO N N N M N V V TO 1A M 01 CO t0 M O M V .V-1 r1 '-1 N N CO CC O. N N N N N N N N N N N N VT N NNN N N N N N N. N VT N N VT N N N N N O O O 0 0 CO N 0 0 M 0 M N 01 M 1A 0 V1 00 N 0 CO 01 0 M .0 o M 1A in O O O O O N N 0 V N O M CO ut 0 O 1A O N M V O O .-I N ul 6 01 00 N C O 01 00 Q ut O ' N 6 O M O 6 N • CO O CO N 6 V M 6 O N M n) U '1 TO N M N 0 Q Q Q V 0 ,0 0 1 0 (0 10 (0 01 N TO 00 00 1O 0 V 0 0 N 0 CC V 01 N M 01 M Ot 10 00 N to N N M 10 V V1 01 N 0 m N 10 N V CC M O N '-i N 0 ri b IXl 't N N N N N N N Vt N to N N N N N N N N N VT to N VT N N N N N N N N V} M N N 0 0 0 0 CO N 0 O no O M N 01 01 to u1 Q' N LA CO 01 0 M N c lO IA N O O O O N N O V N O M CO 4-1 IN Vl 1A M N Ma V 0 0 .-1 V a LU O N O1 00 V1 V 01 00 4 ul O ' N u1 0 M O 10 V 1 00 1 00 M N O V Cl O N 6 N y• . N 10 N M N V V V V 0 0 Cr) 0 M 1D N 0 N N M 10 O co 01 .0 01 M 01 tD 00 N ut N N M N V V 0) N M O1 ‘1.. N d d 'N-I N ti •-1 N O a N N N N N N N N N N N N VT N N N N N VT N N N VTI N N N N N VT N O `V N 0 0 1A O O 0 0 0 CO O O N N O N O O O M O M N Ol 0 O V N O M CO ' N u 0 V1 Vl O V IA 1N 01 V1 CO m O 0 N M V O 0 m m 0? • Z M O 0 u1 Q O 0 W V u O ' ( N A O M O D N 1 00 O 0 O V V M 01 CO O O O 0 U t0 tO N M N N Q Q V 10 0 01 0 M 1O N Q N V1 N N 10 0 V 0 N 0 0 N J 2 6 01 '1 01 M al 01 N M N N N N M I, V CO N 0 u1 m Cl 10 CO N N a < O1 N N N M ~ n O a or ( 10 VT N N VT to VT VT VT VT N VT N N N N VT VT VT N N VT N N N N N N N N N N VT N 0 N N 0 0 0 0 0 CO N 0 0 0 M 0 M N Cr, t0 01 01 N N u) CO O1 M V CO .i N u1 O O 0 O O o t N O Q .1. N O M CO .-1 N 0 Ln CO N M V 0 11 01 0• Z 01 Ol ' 00 1A V O 01 00 V 6 O ' N N 1A O M O t0 00 1 00 1 00 td ut V M Cl • N W ul Z I� 10 N m N 0 V V V V 0 .-t .-1 01 O M 10 N 10 N N 01 10 0 V 0 N Z co 01 H M 01 M 01 TO CO M 04 1A N N M 01 V V M u1 M 01 00 N g -- I N N N N N N N VT VT VT N V)N N N Vt N N Vt N N N N an VT N to N N N CO N N 0 0 0 O 00 N Cr 0 0 M 0 M N 01 V LA LA 01 N 1A 00 O1 0 m 'N+ c N IA 1A O O O O 0 N 0 O V N O M 00 1-1 V LA V1 O1 N M V O O .� 0 VVll M Cl 0 A V m O V u O ■ NN A O M O u N • • • 00 00 O u Q M O O N V• 10 N M N V V V V 0 0 01 O M t0 N 01 04 N N 1D 0 V 0 0 N V CC 01 Ol 'l 0l M Ol 6 CO en N 10 N N M O V V .1 Ill M 01 CO 10 N d• M O 1-1. 1-1 ti N V N M to N to N VT N VT VT VT N N VT VT VT VT N N to N N N N N N VT N N N N Q 01 a N N 0 0 0 O O 00 N 0 00000, 01 0 LA LA 1A 04 LA CO al M OO N K U tD V1 Vl O O O O O IN N 0 . Q N O M CO CO LA 1A M N M V O V• C N 01 00 0 Q O Ol W V V1 O Ni u1 O M O 10 00 co CO n ul Q M Ol N 01 V1 l0 N M N 0 V V V Q O Cl 0 M TO N N N N N t0 0 Q 0 04 N 01 O1 N M 01 m 01 1O CO 04 ut N N M N V V .-1 ul 01 01 CO 01 O • CO. '9 .-I O Z CC N N N N N N N N N N N N N N N N N N N N N N N N N N N N Ni N NI .-1 N N 0 0 0 O CO N 0 0 O M 0 M N 01 N 0 0 Vl N N V1 CO 01 (0 6 • O LA in O O O 0 N N O O V N O M 00 0 .-1 1 V) 0 ut N N M V O 1 '! 00 0 CC N O1 00 u1 V 01 00 V ul O M 'n1 ul O M O 1D N CO N 01 V1 a m 01 N 10 10 N 10 N V V V V 0 10 01 0 M 10 N 0 N 0 CO M 10 0 V 0 N 10 2 O m 0l 01 M 01 10 00 00 N u) N N Al N V '1 VI N u) M O1 CO O LA V 10 r1 N N Of .-i (0 J ( 'i N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N tu N N co O O 00 N O 0 0 N 6 N N V1 CO 01 M CO 0 • Ot tel O O O N N O O V CO N N N M V O N 00 ut• F- 5N O1 V1 01 CO V 11 O O N O ' N • 1 N u1 V M 01 N Cl O co 5 10 M V V V V 0 0 1D u1 N 10 0 V 0 N IN N Z .4. .-1 01 M 01 1O CO 0 N N CO 00 u) m 01 CO O • O •0 01 ai 10 «) 1010 0 0000 0 00 0 00 O o0 0 00000 C) 0 N- P. P. N- 0 0000 0 00 0 00 0 00 0 00000 0 0 CO CO C4 CO � r r I: C4 1N N d) — M ' M O O r ui M 6 V• CD ti _ CO CO CO CO NI t00Nr V' CD CD e- OM et N (0 Ch 00000CDN I. P T a NI totototo M NNMN- 1() CO CO. 0 LOCO r• NU) I_ N- O) — CO1 N- O 007007 N N-V'NCV CC; I-r co tpN CO MIS CG NCV) C7Mr CO co N FO- V r r r r er M r U) N N N N N CO r N N U CD E9 E9 03 U) 49 E9 E9 03 E9 CA E9 03 69 CO CO 03 69 (9 E9 49 63 03 CO CO 03 CO U 40 . 0 0 0 0 0 0 0 O 0 0 O 0 0 0 Co C t0 t0 U) U) 0 0 0 O 00 00 00 0 O C7 O O O N to M0 O O C7 CO O LOU) O ti ; NNNN- CO N N r OD CD �} r MN 0) T E V' V' CD O P. r O tO ti CO t0 I's co C y •=r r r t() CO N CV r r C7 r N N 41 C9 E9 U)E9 CH E9 CO 09 03 CO 03 EH E9 63 09_ LO t01010 0 0000 00 00 00 000 o; ✓ N N N N O O O O O O O O O 0 0 0 0 0 O CO C0 CO C4 to CO I- I� r CV a C4 � (V � Io OO �0 C rrrr CO N- C) N- • 00 NCO I- U) 0 (0 00 CD r r r r et r N M 0) CO CO co CO CO CO N- CA r O) T N0)0 0 CO r V c4 v- vf.r C'Mr of t() NMO N 0 C CO CO r N N N r N N N (o 2 CO CO CO(0 Ef3 U)Ef3 E9 CO E9 U) CO CO CO CR 09 E9 CO CO O 10 10 MD O 01000 It) 010 N 00 0 00 O 00000 O 0 r- r- N- N- O ON- OO I` ON N O0 O CD CD O 00000 O O CA a a 6 O M N M O M .- �{ CD M ' n- 0 t- CG - O .- t0 t0 DD CG CO r r r r N e� h CO CO CO 0 CO tf) l0 O N r N M MO CO CO N 0 et T i+ yl M 0 In t0 O CO O M M t0 M 1f) Cf CO O N CO M CO t0 CO In CO 1 0 C7 O C7 O N 10 V N N et CO r I� t0 0 O M CO Of N M 0 M r O O N V r r r r V• M r 1() N N r N N F r r N Cl 0 CD .0 V3 09 CO 03 40 09 09 E9 CO CO E9 CO CO CO CO CO 49 CO CO CO Cn C9 E9 E9 C9 U) U 03 t0U) M0t) 0 0 O O O O O O O O O C NI's I's I's 0 O O O 00 00 00 Co d MMMM t0 0 M O 00 COO Mt0 M 0 ; 0) 0) 0) 0) N- ti N- �- CO ��•• r CO CV CO E 'V_V_ V_ 0) O N- V r O 10 N- CO t0 CO 0 C y rrrc- 1n CO N Nr r cis- N LO N d CO CO E9 03 E9 CO EA CO CO 69 CO 40 CO CO E9 0000 0 01.000 0 tO 00 00 000 0 d 0000 0 ON- 00 O N 0 0 0 0 0 0 0 O ✓ C4Co (O (O V• c6hN c�) 6r 66 N , '- O V- U) 0 /0 F NNNN 0 N- N- CO 0) CO CO COLD N- 0 M10CD .- 0000 r N- 0M10 0) LO. rCO C.0 3- MC010 CO 0 r N�NN V) N V N<- N r M CD N N V M 0 0) N C r (o CO 03 CO E9 U) 09 03(0 H3 EA EA (0(0 CO U) 09 CO E9 031 ca C 0 V CO C d a >- oa o o ~ `o I. a �a �a c 'c +' +� 0o 0. X I-00 c ~ ~ m ca O o °) a) ,k fa E.D. to ~ E co CD CD C N Er 10 .0 CD W CO 0 _c � E CD N aV.) 80 C, y c Q = Z .Z C C c O N Z• M Q N D a 000) 0) 0 CO 0 a) a 5C) a)_ _ CO m m ° Q 0 0 0. N 0 CD i s � M m• 'mmm 6 '6 � m @ @ Q � n U 0c, ) i 0) a y c c c •5 Q as ` 2cn En E E c o, , ' . . :� . . . as � _„. .. 0, 03 0. » » ii u i co 22 aad iL0 . c c � Z � CO a) H r O) O 40 ID N N N N � � � � r r 0 0 0 0 s- 0300800 C C 0000 NNNN � � 101010 COM .000 00 N M V t0 0000 00 000 00 V• V• c5 -a- V• > > COO (OCO .- e- r .- rr .- .- r N- •- V I- N- 0 N- I. CO ~ ti C