HomeMy WebLinkAbout08.07.23 Work Session Packetmmmmmmmmmmamm C IT Y
FARMINGTON
3.1. 2024 Draft Budget Discussion (90 minutes)
Work Session Meeting
5:00 PM - Monday, August 7, 2023
Farmington City Hall, Conference Room
170
Review the information on the 2024 budget, ask any questions you may
have and provide city staff with the direction on how to move forward on
the proposed budget.
03
g��
FARMINGTON
1',"" 430 Tt"Od St, Farmington, MN 550-2-4
Bril - 280,
0 RarmingtonWgov
WORK SESSION AGENDA MEMO
To:
Mayor, Councilmembers and City Administrator
From:
Chris Regis, Finance Director
Department:
Finance
Subject:
2024 Draft Budget Discussion
Meeting:
Work Session - Aug 07 2023
The draft 2024 General Fund summary budget information is included for your review. Departments
have submitted initial budget requests that have been reviewed over the past months.
DISCUSSION:
City staff has been working on the preparation of the 2024 budget since May of this year. Staff has
done an excellent job of submitting what they believe are the needs of their departments for the
upcoming year. In the preparation of the budget, staff has incorporated the city council priorities.
These priorities are:
-Business growth
-Community engagement
-infrastructure support
-Employee engagement
Details of the 2024 Draft Budget are presented below.
2024 Draft Budget
City staff continues to work to plan for the future with realistic budgets and incorporate the capital
improvement plan into the preparation of the budget.
The current version of the 2024 budget is as follows:
2023 Budget
2024 Draft Budget
Expenditures
$16,884,783
$18,688,710
Revenues
3,796,853
4,393,700
Fiscal Disparities
2,407,636
2,359,483
General Fund Levy
$10,680,294
$11,935,527
EDA Levy
-
150,000
Debt Service Levy
2,069,565
1,763,101
Net Tax Levy
$12,749,859
$13,848,628
Increase/Decrease
10.68%
15.72%
(2.00)%
11.75%
100%
(14.81)%
8.62%
g��
Revenues
Proposed non -property tax related revenues reflect a 15.72% increase over the 2023 budget. This
increase is greater than the increase from 2022 to 2023 which was 7.26%. The revenue changes by
category are detailed below.
License/Permits
This category reflects a decrease which contrasts with the increases we have seen over the last
several years. The decrease is a result of a slowdown in single family home construction. While most
of the line items remain relatively consistent with 2023, the staff is projecting that building permit
revenue will decrease by $153,770 from the 2023 budgeted number.
Intergovernmental
This revenue category reflects an approximate $145,790 increase from the 2023 budget. The line
item increases can be seen in MSA Maintenance Aid, Police State Aid, Fire State Aid, and Federal,
State, and County grants.
Charges for Service
This area is budgeted for an increase of $124,011 over the 2023 budgeted amounts. The largest
increases can be seen in Fire Charges and in Engineering Fees. The total revenue in this category
is $729,930.
Fines and Forfeitures
Staff is forecasting Fines and Forfeitures to remain at 2023 budgeted levels of $55,000.
Investment Income
Due to the significant year end market value adjustments over the last two years, the staff is reducing
the budgeted amount to $10,000 to hopefully mitigate any negative adjustments at year end. The
budgeted amount is the General Fund's portion of the investment income and does not reflect all of
the income received.
Miscellaneous Revenue
This category has increased slightly from 2023. The budgeted amount reflects the reality of what is
expected to be received. The total amount of revenue included for 2024 is $63,100.
Operating Transfers In
A detailed breakdown of the transfers in and out of the 2023 budget is included as a separate exhibit
in the packet. The transfers into the General Fund are from the Enterprise Funds to reimburse the
General Fund for salary/benefits and administrative costs which benefit the Enterprise Funds.
Expenditures
In comparing the draft 2024 budget to the approved 2023 budget, expenditures are proposed to
increase by $1,803,927 or 10.68%. Included in this increase is moving the salary scale to the 75th
percentile and the addition of 2.5 FTEs. A .5 FTE grant writer and 2.0 FTE Public Works Maintenance
positions are included in the proposed budget. Estimates were included for health insurance (9%
increase) and worker's compensation insurance (5% increase). Other increases include new financial
and inspection/permit software as well as increased IT charges.
Transfers Budget
The Transfers Budget continues in 2024 with amounts established in the 2022 budget process in
response to the council priorities.
Page 3 of 40
Please see the following points:
•Vehicle and Equipment — The 2024 proposed budget includes $550,000 for vehicle and equipment
replacement. This amount is split into two parts, $450,000 for General Capital Equipment and
$100,000 for General Capital Equipment -Police. The $550,000 amount is an increase of $50,000
over the amount included in the 2023 budget for this area. There are still significant needs in this
area. It is planned that funding will be increased incrementally each budget year in the future.
•Street Maintenance — The 2024 proposed budget includes $675,000 for street maintenance costs
and $9,000 for town road maintenance. These amounts represent a zero -dollar increase from
2023.
•Trail Maintenance — This item includes $170,000 in tax levy dollars for trail maintenance in 2023.
This is a $20,000 increase over 2023.
•Building Maintenance —This item was increased to $75,000, an increase of $45,000 over the 2023
amount.
•EAB — Funding for EAB mitigation was increased by $50,000 to $100,000 in 2024.
Fiscal Disparities
This amount will be finalized in mid to late August 2024. The 2024 proposed budget includes an
amount that reflects an estimated 2% decrease from the actual 2023 amount. As a reminder, Fiscal
Disparities is a metro -wide program that shares commercial/industrial growth in the metro area
between cities. Because Farmington has not developed at the same rate as other metro cities in the
commercial/industrial area, we are a net "gainer" of revenue in this area.
Debt Service Funds Levy
The Debt Service Funds budget provides funding for scheduled debt principal and interest payment
obligations, as well as ongoing trustee, assessments, arbitrage, and post -issuance compliance fees
related to the city's debt. The levy includes both General Obligation bonds and interfund loans.
The net debt levy for 2024 reflects a decrease of $306,464 from the 2023 debt levy. The decrease is
the result of the Series 2016A bonds maturing and the Series 2005C levy decreasing.
Additional Notes
There are numerous factors that brought the proposed 2024 tax levy to where it stands today. A few
of these include:
•EDA Levy of $150,000
•3% cost of living and wage adjustment for staff.
•Increase in pay plans to the 75th Percentile of the Market
•New Finance/Accounting/Payroll software
•New Inspection/Permit software
•Increase in internal IT Charges
The establishment of the 2024 budget will set the framework for our financial health and work plan
for the next year.
Page 4 of 40
Review the information on the 2024 budget, ask any questions you may have and provide city staff
with the direction on how to move forward on the proposed budget.
IMM
Page 5 of 40
i NU
of �
• Business growth
• Community engagement
• Infrastructure support
• Employee engagement
0 Tax Levy increase of 8.62% - Includes $150,.000 EDA Levy
0 Increased pay plan to 75 th Percentile of Market
0 Transfer in * Employee`
positionsadded
General.5 FTE Grant Writer position added
• General Fund transfer to General Capital Equipment Funding - $550,00411,
• itransfer to;•
Finance/Accounting0 Increased funding for city maintenance funds — trail, building, EAB
Recycling and Solid Waste JPA now in General Fund - $30,000
New software
Implementation• •: 0'
• Annual Cost increase
•
New Inspection/Permit
CD
CO Increase in internal IT charges
a* III ore
0
13
r7l
cQ
CD
I 3CSC
May through July 0 October/November
• Management submits, reviews and revises o Review and update rates and fees schedule
budgets o Review and update budgets
August o Truth in Taxation statements mailed to residents
• Council reviews draft budgets December
September o Receive public input and adopt final budgets and
• Adopt the preliminary tax levy by Sept. 30, 2022. tax levy
General Fund $3,796,853 $4,393,700 15.72%
Revenues
General Fund Levy $10,680,294
Debt Levy $2,069,565
T
c�
m
0
$11,935,527
$1,763,101
11.75%
(14.81)%
I 1 11 , I I D 111�1
Intergovernmental Revenue
$623,320
$769,110
23.39%
Charge for Service
$605,919
$729,930
20.47%
Fines and Forfeitures
$55,000
$55,000
0%
Investment Income
$51,000
$10,000
(80.39)°l0
Miscellaneous
$48,410
$63,100
30.34%
Total Revenues $3,796,853
$4,393,700 15.72%
T
c�
CD
N
1! 1 1 F,*Q 9 Cm,,: Z,4,11,1111i! II Am
Human Resources $401,235 $439,839 9.62%
Dakota Broadband $45,500 $0 (100)%
Finance & Risk Management $848,407 $968,120 14.11 %
Fire
Engineering
Municipal Services
Parks & Recreation
1 1 c11 101 G 1'. J
Total General Fund Expenditures
$1,742,006
$1,239,709
$814,743
$1,610,495
1 642,022
$1,795,383
$1,446,254
$989,680
$1,790,617
$1,669,000
3.06%
21.47%
11.18%
i . V"t /o
10.68%
1 -2- M7, Pobl 9 1 ilk I Eel DI 1 -4, : I &14 ftyl I us]
7 2013 2019 2020 2021 2022 203 2024 2025 2025 27 2028 2029
T
c�
m
Fiscal Disparities $2,407,636 $2,359,483 (2.00)%
Gross Tax Capacity
Fiscal Disparities Contribution
Proposed Tax Rate
$30,905,790
$1,099,790
42.933%
$32,733,433
$1,132,784
43.981 %
5.91 %
3.00%
2.44%
LO
co
^T $50,000
I.V
CD
5911w*11U.- IIZ[e cl.0"AWItt
In
0
EN
mm
mm
In
T
CD CD 0
LO
co
0
r-
Its
2015 2016 2017 2018 2019 2020 2021 2022 2023 02
E Based on Taxable Market Value of City Portion - Tax 2023 $11456.23
187
m City Portion - Tax 2024 (4.43% estmv) $1,556.22
$99.99 increase or $8.33 per month in City property tax portion
with estimated / % increase in ,
T
c�
CD
&01*1 T_J -4 " Z, 1, :- I Z, k Is wx " ilk, I
a• Total project costs $55,582,350
$41892,1350
e
$10,560,000
• Public Facilities - $21,2401000
• Recreation and Open Space - $3,810,000
T Right of Way Improvement - $15,0801000
CC]
CD
co
&01*1 T_j -4 " Z, 1, :_ I Z, k d wx " ilk, I
:21WRIZ
Funding
Debt
Funds0
*General Tax Levy- $9,597,680
Intergovernmental - $1,765.0000
OtherUser Fees — $419,170
Donations - $900,000
&01*1 T_j -4 " Z, 1, :- I Z, k d wl- " ilk, I
Public _ +Expansion/Remodel..Reconstructioni
* Annual Mill & Overlay Program - $5,000,000
* Water Storage Facility►
,400,000
• Rambling
• Trail Improvements
• Fire Engine 2 Replacement - $1,100,001
CD
EAB Management Program - $630,000
O
• Special Revenue Funds
• EDA
• Ice Arena
• Park Improvement
• Debt Service Funds
• Capital Project Funds
• Cable Communications Fund
• General Capital Equipment Fund
• Maintenance Fund
• Trail Maintenance
• Building Maintenance
• EAB
Enterprise Funds
• Liquor
• Sewer
3Kr#RMT4=- I
T
Water
CD Street Light
ilk
Employee
InsuranceProperty and Liability
InformationFleet
T
CD
N
N
SpeciaL Revenue Funds
Special Revenue Funds are used to account for the specifI c proceeds of certain
revenue sources that are restricted or committed to expenditures for a specific
purpose.
EDA — For 2024, EDA funding will be a $150,000 tax levy and a transfer in from the General
Fund of $50,000. The funding will help fund micro grants and economic development
M.�'-Mlli,,
Ice Arena Fund — The 2024 budget reflects a $94,000 increase in costs due to the pay plan
increase, installation of LED lights in the arena and replacement of Y2of the bleacher seating.
Fee increases for 2024 have yet to be considered. Fees will be reviewed during the annual fee
update in October.
Park Improvement Fund —This fund accounts for the operations and activities related to the
collection of park dedication and development fees earmarked for the construction of the
city"s park and trail system. For 2024 there are no budgeted costs for park development at
this time. Revenues for 2024 will come from budgeted revenues of $50,000, and a transfer ir
W
(a of $125,000 from the Liquor fund.
CD
N)
W
• These funds provide for the collections of debt service tax levies and special
assessments for the payment of principal and interest on long-term debt
obligations other than those issued for and serviced by an enterprise fund.
• Total debt service tax levy for 2024 - $1,763,101.
Six • debt issues - $
CD
N)
Capital project funds are maintained to account for financial resources that are restricted,
committed, or assigned to expenditures for capital outlays.
MENWRIS•71�M
The Cable Communications Fund receives funding from franchise fees and PEG fees.
These funds are used to support the equipment used to record and broadcast city
The city maintains the General Capital Equipment Fund for the purchases of capital
equipment using dollars from the General Fund. Purchases include police equipment,
fire equipment, and vehicles benefitting the General Fund. Budgeted transfers into the
fund include $450,000 for general fund vehicles and $100,000 for police vehicles.
T Budgeted items in this fund include annual mill and overlay program at $1,000,000.
W
(a Funding will be from a General Fund transfer of $675,000, $120,000 transfefrom
CD r
PQ utility funds and existing cash in the fund.
Cn
� 11 ;�11111 I
the city's trail system.
Budgeted transfers in 2024 from the General Fund will total $170,000.
n= M
ii moll
buildings.
Budgeted transfers from the General Fund will total $75,000 in 2024.
EAB
a This fund was created in 2023 to account for the costs involved in emerald ash borer
mitigation.
Budgeted transfers in 2024 from the General Fund will total $100,000.
MO.=
• Sales are budgeted to increase 3.26%
• Estimated net income before transfers is $399,111
Sewer Fund
• Sewer charges revenues are budgeted to increase approximately 19% over 2023 budgeted amounts
based on the utility rate study.
• MCES charges have increased by 12.84% over the prior year and are expected to increase in future
years.
• The fund will transfer to the General Fund $537,390 for administrative costs that cover payroll,
human resources, finance and administration.
• The fund will also transfer their share of infrastructure costs for street reconstruction projects in
2024 in the estimated amount of $490,000.
Storm Water Fund
• Storm water charges are budgeted to increase 7.75% over 2023 budgeted amounts based on the
utility rate study.
• The fund will transfer to the General Fund $562,920 for administrative costs that cover payroll,
T human resources, finance and administration.
(aM
- The fund will also transfer $490,000 for estimated infrastructure costs for street reconstruction
CD projects in 2024.
N)
4
Enterprise Funds
Water Fund
• Water charges are budgeted to decrease slightly from 2023 budgeted amounts based
on the utility rate study.
• The fund will transfer $537,310 to cover administrative costs that cover payroll, human
resources, finance and administration.
• The fund will transfer $640,000 for its estimated share of the infrastructure costs for
2024 street reconstruction projects.
• Planning for a new water storage facility will begin in 2024. Total estimated cost is
$6,400,000. Funding to be provided by the water fund.
Street Light Fund
9 The city owns and maintains streetlights primarily in the downtown and the Vermillion
River Crossings. The remaining streetlights are owned and operated by the electric
utility companies (Xcel Energy, Dakota Electric). The city is charged a rate per light to
cover it operating costs.
9 Expenses associated with all the lights are budgeted in the Street Light fund with
CD revenues generated from a quarterly fee paid with other utilities.
CO
InternaL Service Funds
Employee Expense
Used to account for the costs of employer -paid benefits, including pension, Socia-I
Security, health, life and dental insurance, and workers' compensation insurance.
Property and Liability Insurance
* Used to account for the costs of property and liability insurance for the city.
Fleet
-, Used to account for the costs of vehicle maintenance services provided to divisions by
9 Increased user charges to divisions by 15% for 2024.
Information Technology
* Used to account for the costs of computer hardware, software, and internet services
T provided to all city departments.
Increased user charges to divisions by 21% for 2024.
CD
N)
(D
FA IMT4 & 9 142 1 a a :_o 01, *1 1 9 1
CD
w
CD
City of Farmington
Budget and Tax Levy
2022 Budget, 2023 Budget and 2024 Proposed
Company
2022
2023
Budget %
2024
Budget
Budget
Budget
Change
Proposed
Change /o
Non -Property Tax Revenues
Licenses and Permits
736,700
915,470
24.27%
782,050
-14.57%
Intergovernmental Revenue
672,087
623,320
(7.26)%
769,110
23.39%
Charge for Service
602,460
605,919
0.57%
729,930
20.47%
Fines and Forfeitures
50,000
55,000
10.00%
55,000
0.00%
Investment Income
41,600
51,000
22.60%
10,000
-80.39%
Miscellaneous
80,878
48,410
(40.14)%
63,100
30.34%
Transfers In
1,427,858
1,497,734
4.89%
1,984,510
32.50%
Total Revenues
3,611,583
3,796,853
5.13%
4,393,700
15.72%
Expenditures
Aammistration
Human Resource
Dakota Broadband
Finance and Risk Mgmt
Police
Fire
Community Development
Engineering
Municipal Services
Parks and Recreation
Transfers Out
Total Expenditures
Revenues Over (Under) Expenditures
1,099,249
1,159,523
5.48%
1,406,345
21.29%
402,112
401,235
(0.22)%
439,839
9.62%
45,500
45,500
0.00%
0
-100.00%
818,759
848,407
3.62%
968,120
14.11 %
5,279,810
5,664,569
7.29%
6,203,145
9.51 %
1,592,646
1,742,006
9.38%
1,795,383
3.06%
1,059,182
1,239,709
12.50%
1,446,254
16.66%
850,411
814,743
1.47%
989,680
21.47%
1,609,704
1,716,574
6.64%
1,980,327
15.37%
1,329,737
1,610,495
21.11%
1,790,617
11.18%
1,642,609
1,642,022
(0.04)%
1,669,000
1.64%
15,729,719
16,884,783
7.34%
18,688,710
10.68%
(12,118,136)
(13,087,930)
8.00%
(14,295,010)
9.22%
EDA Levy
0
0
0.00%
150,000
100.00%
Total EDA Levy
0
0
0.00%
150,000
100.00%
Debt Levy
Bonds
2,099,788
1,903,565
(9.34)%
1,667,101
-12.42%
2005C Loan Repay -Storm Water Tr Ad%
166,000
166,000
0.00%
96,000
-42.17%
Total Debt Levy
2,265,788
2,069,565
(8.66)%
1,763,101
-14.81 %
Gross Levy
14,383,924
15,157,495
5.38%
16,208,111
6.93%
Fiscal Disparities
(2,351,400)
(2,407,636)
2.39%
(2,359,483)
-2.00%
Farmington Net Tax Levy
12,032,524
12,749,859
5.96%
13,848,628
8.62%
Page 31 of 40
General Fund Detailed Non -Property Tax Revenue Summary
2021 Budget, 2022 Budget,
2023 Budget and 2024 Proposed
Object
Account
2021
Budget
2022
Budget
2023
Budget
2024
Proposed
LIQUOR LICENSES
40,000
40,000
37,000
37,000
BEER & WINE LICENSES
1,100
800
800
800
CLUB LICENSES
500
500
500
500
MASSAGE LICENSE
300
50
50
50
GAMBLING LICENSE/PERMIT
250
150
300
450
OTHER LICENSE & PERMIT
1,700
1,400
1,800
2,300
ANIMAL LICENSES
2,500
2,000
2,900
3,000
Licenses
46,350
44,900
43,350
44,100
BUILDING PERMITS
380,876
590,000
762,770
609,000
REINSPECTION FEES
1,500
1,200
5,000
5,000
CODE ENFORCEMENT FEES
1,500
900
900
900
PLUMBING & HEATING PERMITS
50,000
60,000
60,000
65,000
ELECTRIC PERMITS
16,000
20,000
23,000
23,000
ISTS PERMITS
300
250
250
500
UTILITY PERMITS
10,500
10,500
11,000
23,740
SIGN PERMITS
800
700
900
900
BURNING PERMITS
1,250
1,250
1,300
1,300
OTHER PERMITS
8,000
7,000
7,000
8,610
Permits
470,726
691,800
872,120
737,950
Licenses and Permits
517,076
736,700
915,470
782,050
FEDERAL GRANT
5,000
5,000
3,100
5,600
LOCAL GOVERNMENT AID
105,587
105,587
-
-
MSA MAINTENANCE
184,000
184,000
185,400
257,390
POLICE AID
198,000
205,000
225,000
240,000
POSTTRAINING
15,160
15,000
25,000
25,000
FIRE AID
142,490
150,000
175,000
195,000
STATE GRANT
4,325
-
3,700
17,500
MARKET VALUE CREDIT
-
-
-
2,500
COUNTY MISCELLANEOUS
13,350
7,500
6,120
26,120
Intergovernmental
667,912
672,087
623,320
769,110
CUSTOMER SERVICES NONTAXABLE
210
135
150
380
ZONING & SUBDIVISION FEES
2,600
3,000
4,000
3,500
ADMINISTRATION FEES - PROJECTS
4,000
4,000
7,500
9,000
FIRE CHARGES
239,227
258,940
264,177
367,010
POLICE SERVICE CHARGES
78,810
80,385
81,992
83,630
ENGINEERING FEES - PROJECTS
-
-
-
24,890
EROSION & SEDIMENT CONTROL
8,100
9,500
14,000
22,280
RECREATION FEES - GENERAL
75,000
75,000
62,000
65,000
RECREATION FEES - SENIOR CTR
15,000
17,000
17,500
23,000
MEMBERSHIP FEES - SENIOR CTR
6,000
7,500
7,600
9,000
ADVERTISING
750
500
500
1,040
ADVERTISING
1,500
1,500
1,500
1,200
FRANCHISE FEE
145,000
145,000
145,000
120,000
Charges For Services
576,197
602,460
605,919
729,930
COURT FINES
49,000
50,000
55,000
55,000
Fines & Forfeitures
49,000
50,000
55,000
55,000
INTEREST ON INVESTMENTS
29,100
41,600
51,000
10,000
Investment Income
29,100
41,600
51,000
10,000
RENTAL INCOME - RRC
18,000
18,000
7,710
8,500
RENTAL INCOME - FIELD RENTAL
-
-
-
4,100
RENTAL INCOME
29,670
28,678
29,000
25,000
MISCELLANEOUS REVENUE
31,700
34,200
4,200
5,600
DONATIONS
-
-
2,500
4,900
REFUNDS & REIMBURSEMENTS
-
-
5,000
15,000
Misc Revenue
79,370
80,878
48,410
63,100
OPERATING TRANSFERS
1,379,689
1,427,858
1,497,734
1,984,510
Transfers In
1,379,689
1,427,858
1,497,734
1,984,510
Total Revenues
3,298,344
3,611,583
3,796,853
4,393,700
Page 32 of 40
General Fund Expenditure Detail Summary
2021 Budget, 2022 Budget 2023 Proposed
and 2024 Proposed
Company
2021
Budget
2022
Budget
2023
Budget
2024
Proposed
Expenditures
Administration
Legislative
87,392
87,259
110,262
116,964
Administration
321,712
469,641
528,826
651,927
Elections
9,351
47,948
10,000
60,572
Communications
114,900
132,916
134,785
154,958
City Hall
369,560
361,485
375,650
421,924
Administration
902,915
1,099,249
1,159,523
1,406,345
Human Resources
Human Resource
361,658
402,112
401,235
439,839
Human Resources
361,658
402,112
401,235
439,839
Dakota Broadband
-
Dakota Broadband
37,500
45,500
45,500
Dakota Broadband
37,500
45,500
45,500
-
Finance and Risk Management
Finance
603,097
648,309
658,857
753,210
Risk Management
173,190
170,450
189,550
214,910
Finance and Risk Management
776,287
818,759
848,407
968,120
Police
Police Administration
1,263,014
1,356,642
1,382,034
1,529,104
Patrol Services
2,639,752
2,929,249
3,228,428
3,545,612
Investigations
926,430
974,019
1,032,707
1,112,529
Emergency Management
16,600
19,900
21,400
15,900
Police
4,845,796
5,279,810
5,664,569
6,203,145
Fire
Fire
1,435,685
1,592,646
1,742,006
1,795,383
Fire
1,435,685
1,592,646
1,742,006
1,795,383
Community Development
Planning
567,681
624,475
554,687
674,681
Building Inspection
440,168
434,707
685,022
771,573
Community Development
1,007,849
1,059,182
1,239,709
1,446,254
Engineering
Engineering
694,134
725,816
672,459
838,685
Natural Resources
119,761
124,595
142,284
150,995
Engineering
813,895
850,411
814,743
989,680
Municipal Services
Streets
1,268,832
1,358,489
1,436,409
1,690,299
Snow Removal
242,355
251,215
280,165
290,028
Municipal Services
1,511,187
1,609,704
1,716,574
1,980,327
Parks and Recreation
Park Maintenance
733,607
677,974
979,476
1,104,099
Rambling River Center
185,054
227,731
204,199
223,671
Park & Rec Admin
304,383
324,745
210,945
260,353
Recreation Programs
94,297
99,287
215,875
202,494
Parks and Recreation
1,317,341
1,329,737
1,610,495
1,790,617
Transfers Out
822,351
1,642,609
1,642,022
1,669,000
Transfers Out
822,351
1,642,609
1,642,022
1,669,000
Total Expenditures
13,832,464
15,729,719
16,884,783
18,688,710
Page 33 of 40
Total City Budget
Special
Debt
Capital
Internal
2024
General
Revenue
Service
Projects
Enterprise
Service
Budget
Financial Sources
Property Taxes
$
14,295,010
$ 275,000
$ 1,763,101
$-
$-
$-
$
16,333,1 1 1
Licenses & Permits
782,050
-
-
-
-
782,050
Intergovernmental
769,110
-
-
215,000
-
-
984,110
Charges for Services
729,930
479,500
-
665,400
13,712,844
4,875,858
20,463,532
Special Assessments
-
-
437,000
-
-
-
437,000
Fines and Forfeitures
55,000
-
-
-
-
-
55,000
Miscellaneous
73,100
36,910
-
68,000
341,589
14,300
533,899
Other Financing Sources
1,984,510
195,000
-
1,795,000
-
285,120
4,259,630
Total
$
18,688,710
$ 986,410
$ 2,200,101
$ 2,743,400
$ 14,054,433
$ 5,175,278
$
43,848,332
Financial Uses
General Government
$
2,814,304
$ 117,850
$-
$ 130,500
$-
$-
$
3,062,654
Police
6,203,145
7,500
-
100,000
-
-
6,310,645
Fire
1,795,383
-
-
362,500
-
-
2,157,883
Community Development
1,446,254
150,000
-
-
-
-
1,596,254
Public Works
2,970,007
-
-
1,558,000
-
-
4,528,007
Parks and Recreation
1,790,617
549,843
-
256,000
-
-
2,596,460
Enterprise Funds
-
-
-
-
12,746,325
-
12,746,325
Internal Service Funds
-
-
-
5,094,573
5,094,573
Other Financing Uses
1,669,000
359,120
-
3,481,510
250,000
5,759,630
Debt Service
Principal
-
1,520,000
-
-
1,520,000
Interest
-
305,250
-
-
305,250
Total
$
18,688,710
$ 825,193
$ 2,184,370
$ 2,407,000
$ 16,227,835
$ 5,344,573
$
45,677,681
Net Change in fund
Balances or net position
$
-
$ 161,217
$ 15,731
$ 336,400
$ (2,173,402)
$ (169,295)
$
(1,829,349)
Page 34 of 40
Special Revenue Funds
Revenues and other financing sources
Revenues
Property taxes
Charges for service
Interest income
Miscellaneous
Other financing sources
Transfers in
Total revenues and other
financing sources
Expenditures and other financing uses
Expenditures
General government
Public safety
Community development
Parks & recreation
Total expenditures and othe
financing uses
TIF
Police
Park
Ice
2024
EDA
Trident
Donations
Improvement
Arena
Budget
$ 150,000
$ 125,000
$ -
$ -
$ -
$ 275,000
-
-
-
50,000
429,500
479,500
1,000
400
50
1,000
400
2,850
-
-
10,000
7,560
16,500
34,060
50,000
-
-
125,000
20,000
195,000
201,000 125,400 10,050 183,560 466,400 986,410
117,850 - - - 117,850
- 7,500 - - 7,500
150,000 - - - - 150,000
- - - 7,000 542,843 549,843
150,000 117,850 7,500 7,000 542,843 825,193
Net change in fund balances $ 51,000 $ 7,550 $ 2,550 $ 176,560 $ (76,443) $ 161,217
Page 35 of 40
Debt Service
Revenues:
Taxes
Special assessments:
Principal
Total Revenues
Expenditures:
Principal
Interest
Fiscal agent fees
Other financing uses
Transfers out
Total expenditures and othe
financing uses
2005C
2016B G.O.
Storm
2015A G.O.
Capital
2019A G.O.
Water
Street
Improvement
Street
2020 G.O.
2022A
Closed
Trunk
Reconstruction
Refunding
Reconstruction
Equipment
G.O.
2024
Bond Fund
Loan
Bonds
Bonds
Bonds
Certificates
Bonds
Budget
$ -
$ 96,000
$ 285,495
$ 636,000
$
$ 266,438
$479,168
$1,763,101
437,000
-
-
-
-
-
437,000
437,000
96,000
285,495
636,000
266,438
479,168
2,200,101
- - 235,000
560,000
210,000
220,000
295,000
1,520,000
35,425
68,200
5,250
29,250
153,725
291,850
- - 3,450
3,450
2,950
2,950
600
13,400
263,120 96,000 -
-
-
-
-
359,120
263,120 96,000 273,875
631,650
218,200
252,200
449,325
2,184,370
Net change in fund balances $ 173,880 $ - $ 11,620 $ 4,350 $ (218,200) $ 14,238 $ 29,843 $ 15,731
Purpose Fire 195th Street City Hall & Street Recon Fire Ladder Spruce/
Station Project 1st Street and Utility Truck Division
Garage Street &
Parking
Lots
Page 36 of 40
Captial Project Funds
Storm
Sewer
Cable
Fire
W ter
Recreation
W ter
Gen Cap
Street
Trail
Building
Emerald
2024
Trunk
Fund
Capital
Trunk
Capital
Trunk
Equip
Maint.
Maint.
Maint.
Ash Borer
Budget
Revenues
Intergovernmental
$ -
$ -
$ 215,000
$ -
$
$ -
$ -
$
$
$
$
$ 215,000
Charges for service
68,400
77,000
-
200,000
320,000
-
665,400
Miscellaneous
-
-
-
-
20,000
-
48,000
68,000
Other financing sources
Transfers in
-
-
-
96,000
-
-
550,000
804,000
170,000
75,000
100,000
1,795,000
Total revenues and other
financing sources
68,400
77,000
215,000
296,000
20,000
320,000
598,000
804,000
170,000
75,000
100,000
2,743,400
Expenditures
General government
-
116,850
-
-
-
-
13,650
-
-
-
-
130,500
Public safety
-
362,500
100,000
-
-
462,500
Public Works
-
-
450,000
1,008,000
-
-
100,000
1,558,000
Parks & recreation
-
-
11,000
-
170,000
75,000
256,000
Total expenditures and other
financing uses
-
116,850
362,500
11,000
563,650
1,008,000
170,000
75,000
100,000
2,407,000
Net change in fund balances
$ 68,400
$ (39,850)
$ (147,500)
$ 296,000
$ 9,000
$ 320,000
$ 34,350
$ (204,000)
$ -
$ -
$ -
$ 336,400
Page 37 of 40
Enterprise Funds
Revenues
Sales
Less cost of sales
Net Sales
Non -operating reveneus
Interest income
Other revenues
Total revenues and other
financing sources
Expenses and transfers out
Operating expenses
Personal services
Other services and charges
MCES charges
Depreciation
Non -operating expenses
Interest expense
Transfers out
Total expenses and transfers out
Storm Street 2024
Liquor Sewer Water Water Light Budget
$ 6,579,234 $ 3,169,820 $ 1,425,820 $ 2,307,970 $ 230,000 $ 13,712,844
(4,869,908) - - - - (4,869,908)
1,709,326 3,169,820 1,425,820 2,307,970 230,000 8,842,936
22,529 - - - 1,500 24,029
1,000 4,050 - 312,510 - 317,560
1,732,855 3,173,870 1,425,820 2,620,480 231,500 9,184,525
705,044 8,100
1,200 16,812 - 731,156
546,200 266,240
684,580 857,086 222,850 2,576,956
- 2,251,005
- - - 2,251,005
82,500 690,000
475,000 1,050,000 - 2,297,500
- - - 19,800 - 19,800
223,890 1,027,390 1,052,920 1,177,310 - 3,481,510
1,557,634 4,242,735 2,213,700 3,121,008 222,850 11,357,927
Net change in fund balances $ 175,221 $ (1,068,865) $ (787,880) $ (500,528) $ 8,650 $ (2,173,402)
Capital Outlay $ - $ 253,000 $ 303,834 $ 6,475,000 $ - $ 7,031,834
Page 38 of 40
Internal Service Funds
Employee
Property &
Information
2024
Expense
Liability
Fleet
Technology
Budget
Revenues
Charges for services
$ 3,253,503
$ 380,000
$ 269,930
$ 972,425
$ 4,875,858
Interest income
7,000
2,500
1,300
3,500
14,300
Other financing sources
Transfers in
-
22,000
-
263,120
285,120
Total revenues and other
financing sources
3,260,503
404,500
271,230
1,239,045
5,175,278
Expenses
Personal services 3,198,699 - 263,394 266,877 3,728,970
Other services and charges - 470,000 90,936 799,667 1,360,603
Depreciation - - 5,000 - 5,000
Other financing uses
Transfers out 250,000 - - - 250,000
Total expenses and transfers out 3,448,699 470,000 359,330 1,066,544 5,344,573
Net change in fund balances $ (188,196) $ (65,500) $ (88,100) $ 172,501 $ (169,295)
Capital Outlay $ - $ - $ 6,000 $ 137,450 $ 143,450
Page 39 of 40
CITY OF FARMINGTON
TRANSFERS (TO) FROM OTHER FUNDS
2024 Budget
''. TRANSFERS TO CITY FUNDS:
File: BudgetlTransfers
GENERAL ''..
1000
2000
2300
2500
4400 '..
Gen Cap Eq
'... Gen Cap Eq '...
5700
5810
5811
5812
2024
7100
7400
TOTAL
'.. General Fund '..
EDA
Park Impr.
Ice Arena
Storm Wtr Tr '..
Vehicles
Police Veh. '..
Maintenance
Trail Mamt
Bldg Maint '..
EAB
Street Imp '..
Insurance
IT Fund
rRANSFERS OU
TRANSFERS FROM:
CITY FUNDS:
GENERAL FUND
1000 General Fund
50,000.00 '..
20 000.00
450,000.00
100,000.00
684,000 00
170,000.00 '..
75,000.00
100,000.00 '..
20,000.00
1,669,000.00
SPECIAL REVENUE FUNDS
DEBT SERVICE FUNDS
3000 Closed Bond Fund
263,120
263,120.00
3130 2005C
96,000 00 '..
96,000.00
CAPITAL PROJECTS FUNDS
ENTERPRISE FUNDS
---------------
6100 Municipal Liquor
97,890.00 '..
125,000.00
1,000.00
223,890.00
6202 Sewer-Admin
97,760.00 '..
40,000 00
450,000.00
1,000.00
588,760.00
6202 Sewer-HR
438,630.00 '..
438,630.00
6402 Storm Water-Admin
97,670,00 '..
40,000 00 '..
450,000.00 '..
587,670.00
6402 Storm Water-HR
465,250 00 '..
465,250.00
6502 Water-Admin
97,690 00 '..
40,000 00
600,000 00 '..
737,690.00
6502 Water-HR
7000 Employee Expense Fund
439,62000 '..
250,000 00
439,620.00
250,000.00
TOTAL TRANSFERS IN
1,984,510.00
50,000.00
125,000 00
20,000.00
96,000.00
450,000.00
100,000.00
804,000 00
170,000.00 '..
75,000.00
100,000.00
1,500,000.00
22,000.00
263,120
5,759,630.00
5,759,630.00
v
(D
O
O
O