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2. Budget City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441-4414 Fax (763) 441-9163       TO:     Mayor and City Council    FROM:   Adam Flaherty, City Administrator & Finance Director    DATE:    June 28, 2021    SUBJECT:   Budget Meeting #3      On Monday, Council and staff will continue the 2022 budgeting discussions. I have developed an  outline of discussion topics below. Please note that the information presented during this meeting  is for discussion only and that nothing is final or set in stone at this point of the process. Staff  would only be asking for Council direction on the items below in order to effectively and efficiently  move the budgeting process forward.    Capital Project Funds  The City maintains 13 capital project funds, with 8 of the funds having a respective property tax  levy, a capital improvement plan budget, or both.    Staff will review source and use cash flow projections with the City Council and further discuss  recommendations on how to continue to provide adequate funding. A short narrative for each  component of the capital reserve levy is as follows:    Pavement Management  This fund accounts for nearly all of the street maintenance and renewal projects in the City.  The funding for these projects comes primarily from property tax levy, special assessments and  municipal state aid maintenance dollars.    Trails Management  This fund accounts for the ongoing costs associated with the maintenance of the City’s trail  system as well as the parking lots within the City’s Park system. Annual costs typically include  crack filling, seal coating and trail renewals. The Park system continues to grow each year as  the City builds new parks and trails.     Parks Equipment Replacement  This fund accounts for the accumulation of resources to provide for future replacement of  major park capital items, including but not limited to shelters and playground equipment. The  funding for these future expenditures solely comes from a property tax levy.   City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441-4414 Fax (763) 441-9163 Capital Equipment Revolving  This fund accounts for the expenditure of funds associated with the City’s vehicle and  equipment fleet. These expenditures are evaluated annually by staff and the City Council  during the budget process and again in the year of purchase. The funding for these vehicle and  equipment purchases comes from property tax levies or from utility operating revenues when  applicable.    Fire Station  This fund accounts for the accumulation of resources for future costs associated with the  construction of a fire station(s) within the City.    Storm Water  This levy is for the costs associated with the ongoing review, monitoring, repair, maintenance  and improvement of the storm water systems established prior to current requirements under  the Clean Water Act. The funding for these expenditures solely comes from a property tax levy.     Capital Improvements  This fund accounts for the accumulation of resources to finance future capital improvements.  The fund does not have a specific ongoing revenue source.    City Buildings & Property Maintenance  This fund accounts for the accumulation of resources to finance City buildings and property  maintenance projects.    Franchise Fees  Over the course of the past few years budget discussions, the City Council and City staff have had  discussions regarding the use of franchise fees as an additional revenue source to finance the  City’s pavement management program, including street maintenance, reconstruction and  construction projects.     Staff will review a fee revenue analysis completed by Ehlers and a source and use cash flow  projection that includes franchise fee revenues. Staff will be seeking direction from the Council on  whether to continue evaluating this revenue source.    Fund Balance Policy – Calculation of Transfer  The City’s fund balance policy outlines that the ending fund balance in the General Fund should be  45% of the subsequent years budget. The policy further outlines that any balance more than the  defined 45% minimum, can be transferred to a capital reserve fund at the Council’s discretion.    Property Tax Levy  At this time of the year, much of the information being used is estimates. Based upon the  information currently available from Wright County, the City’s net tax capacity for the 2022 tax  levy will increase approximately 6.36%.    The tax levies associated with the Capital Projects funds will be discussed with the Council; as a  reference, the amount levied for payable 2021 was $2,362,000.  City of Otsego│13400 90th Street NE, Otsego, MN 55330│Tel. (763) 441-4414 Fax (763) 441-9163 Next Meetings  August 9 – At this meeting, staff and Council will begin reviewing the detailed line‐item budgets for  General fund revenues and department expenditures.    August 23 – At this meeting, staff and Council will continue reviewing the detailed line‐item  budgets for General fund revenues and department expenditures.    August 30 – At this meeting, staff and Council will finish reviewing the detailed line‐item budgets  for General fund revenues and department expenditures.    September 13 – At this meeting, the Council will adopt the Preliminary Tax Levy for Taxes Payable  2022.    Materials Attached for Discussion  1) Cash Flow Projections  2) Franchise Fee Revenue Analysis  3) Pavement Management Cash Flow Projection (w/ Franchise Fees)  4) Fund Balance Transfer Calculation  5) Tax Levy Summaries    City of OtsegoFund Balance Policy General Fund Transfer2021Calculation Comments2021 General Fund Budget 6,611,457             Resolution 2020‐80Minimum Fund Balance 2,975,156             The City's Fund Balance states that the minimum General Fund Balance should be 45% of the subsequent year budget.2020 Ending Fund Balance 5,987,733             Per Audited Financial Statements(214,743)              Less: Fund Balance from Insurance Reserve Fund (#204) ‐ Grouped with General for Financial Reporting(28,042)                 Less: Fund Balance from Educational Programming Fund (#215) ‐ Grouped with General for Financial Reporting(132,746)              Less: Nonspendable Fund Balance ‐ Financial Reporting Requirement ‐ Funds actually have alredy been expended.(202,200)              Less: Nonspendable Fund Balance ‐ Financial Reporting Requirement ‐ Future funds from land for resale proceeds.5,410,002             Fund Balance Available (Unassigned)Transfer 2,434,846             DRAFT ‐ Presented to City Council on June 28, 2021X:\Budget\2022\Calculation of Fund Balance Policy Transfers2021Item 2 - #4 City of OtsegoProperty Tax Levy CalculationsPayable 2022Revised: June 17, 2021$% $%2017 2018 2019 2020 2021 2022 Change Change 2022 Change Change CommentGeneral Revenues 3,766,000        3,986,000        4,210,000        4,518,000        4,671,000        4,904,550        233,550          5.00% 4,904,550      233,550          5.00%Tax Abatements 81,385              65,546              60,816              56,491              45,874              40,422              (5,452)             ‐11.88% 40,422            (5,452)             ‐11.88%Debt ServiceSeries 2010B 430,000            440,000            450,000            460,000            460,000            ‐                         (460,000)        ‐                       (460,000)       Series 2018A ‐                         ‐                         79,293              91,758              94,551              97,187              2,636              97,187            2,636             Series 2020A 225,000            215,000            205,000            195,000            195,000            450,000            255,000          450,000          255,000         **NEW** ‐                         ‐                         ‐                         ‐                         ‐                         ‐                         ‐                       ‐                       ‐                      Sub‐total 655,000            655,000            734,293            746,758            749,551            547,187            (202,364)        ‐27.00% 547,187          (202,364)        ‐27.00%Capital ReservesPavement Management 475,960            600,000            800,000            950,000            1,050,000        1,100,000        50,000            1,100,000      50,000           Trails Management 26,000              30,000              32,000              33,000              40,000              43,000              3,000              43,000            3,000             Parks Equipment 55,000              56,000              58,000              60,000             62,000             64,000             2,000             64,000           2,000             Capital Equipment Revolving235,200           242,256           260,000           280,000           300,000           320,000           20,000           320,000         20,000           Fire Reserve150,000           160,000           170,000           180,000           190,000           200,000           10,000           200,000         10,000           Storm Water25,000             26,000             30,000             32,000             34,000             36,000             2,000             36,000           2,000             Capital Improvements160,200           282,500           355,000           318,000           661,000           543,266           (117,734)       1,041,636     380,636         City Buildings & Property‐                        ‐                        ‐                         20,000             25,000             30,000             5,000             30,000           5,000             Sub‐total1,127,360       1,396,756       1,705,000       1,873,000       2,362,000       2,336,266       (25,734)         ‐1.09% 2,834,636     472,636         20.01%Grand Total5,629,745       6,103,302       6,710,109       7,194,249       7,828,425       7,828,425       ‐                       0.00% 8,326,795     498,370         6.37%Growth (%)12.14% 8.41% 9.94% 7.22% 8.82%Tax Capacity14,873,116     16,783,003     18,695,511     20,742,285     22,876,221     24,331,856     24,331,856   1% of Local Board of Appeal EstimateGrowth (%)12.35% 12.84% 11.40% 10.95% 10.29%6.36%6.36%Net Tax Capacity14,872,821     16,696,008     18,608,540     20,497,278     22,591,258     24,028,761     24,028,761   98.75% of Tax Capacity (Based on 2021)Growth (%)12.35% 12.26% 11.46% 10.15% 10.22%6.36%6.36%Tax Rate37.852             36.556             36.060             35.099             34.653             32.579             34.653           Population15,472             16,019             16,605             17,323             18,130             18,130             18,130           Source = MN State DemographerTax Levy Per Capita364                  381                  404                  415                  432                  432                  459                Taxing2017 2018 2019 2020 202120222022AuthorityFinal Tax Rate Final Tax Rate Final Tax Rate Final Tax Rate Final Tax Rate Estimate ChangeEstimate ChangeCity of Otsego37.852             36.556             36.060             35.099             34.653             32.579             ‐5.98%34.653           0.00%Wright County39.599             39.946             44.273             44.421             43.719             43.719             0.00%43.719           0.00%School District36.659             36.137             32.865             34.371             31.717             31.717             0.00%31.717           0.00%School District ‐ RMV19.373             19.422             19.430             29.961             30.598             30.598             0.00%30.598           0.00%Description2017 2018 2019 2020 20212022 Change2022 ChangeMedian Appraised Value198,300           217,206           220,572           247,859           258,455           290,081           12.24%290,081         12.24%Less: MV Exclusion(19,393)           (17,691)           (17,389)           (14,933)           (13,979)           (11,133)           (11,133)         Taxable Market Value178,907           199,515           203,183           232,926           244,476           278,948           14.10%278,948         14.10%Tax Capacity1,789               1,995               2,032               2,329               2,445               2,789               2,789             2017 2018 2019 2020 202120222022TaxingEstimated Estimated Estimated Estimated Estimated EstimatedEstimatedAuthorityTaxTaxTaxTaxTaxTax ChangeTax ChangeCity of Otsego677                  729                  733                  818                  847                  909                  7.32%967                14.17%Wright County708                  797                  900                  1,035               1,069               1,220               14.13%1,220             14.13%School District656                  721                  668                  801                  775                  885                  14.19%885                14.19%School District ‐ RMV384                  422                  429                  743                  791                  888                  12.26%888                12.26%Total2,425               2,669               2,730               3,397               3,482               3,902               12.06%3,960             13.73%Annual Increase420                  478                Maintain Tax LevyMaintain Tax RateLevy DescriptionThe City rate is calculated by the Finance Director. County and School District tax rates were obtained from Wright County, and represent the tax rate from their respective preliminary levies and are NOT FINAL.Source = Wright County AssessorThese are best estimates calculated by the Finance Director based upon information available at the time of presentation. These should only be considered as estimates, and should NOT be considered final.X:\Budget\2022\Property Taxes\Tax Levy Calculations6‐28Item 2 - #5 City of OtsegoProperty Tax Levy CalculationsFuture Tax LeviesRevised: June 17, 2021Preliminary2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 CommentsGeneral Revenues 4,671,000             4,904,550             5,149,778             5,407,266             5,677,630            5,961,511           6,259,587           6,572,566           6,901,194           7,246,254            7,608,567             Annual Increase of  5%Tax AbatementsGateway North 45,874                   ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Current Abatements (Gateway North)Parkview Retail ‐                             40,422                   57,770                   57,770                   57,770                  57,770                 57,770                 57,770                 57,770                 57,770                  57,770                   Projected Abatements (Parkview Retail)45,874                   40,422                   57,770                   57,770                   57,770                  57,770                 57,770                 57,770                 57,770                 57,770                  57,770                  Debt ServiceSeries 2010B 460,000                ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Debt Expires = 2021Series 2018A 94,551                   97,187                   97,187                   94,415                   102,144               104,308              106,313              113,412              114,946              9,232                    12,592                   Debt Expires = 2034Series 2020A 195,000                450,000                450,000               425,000                400,000               375,000              335,000              ‐                           ‐                           ‐                            ‐                            Debt Expires = 2028NEW ‐ City Hall ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                           Future Bond IssuanceNEW ‐ Public Works ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Future Bond IssuanceNEW ‐ Fire Station ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Future Bond IssuanceSub‐total 749,551                547,187                547,187               519,415                502,144               479,308              441,313              113,412              114,946              9,232                    12,592                  Capital ReservesPavement Management 1,050,000             1,100,000             1,150,000             1,200,000             1,250,000            1,300,000           1,350,000           1,400,000           1,450,000           1,500,000            1,550,000            See Cash Flow SpreadsheetsTrails Management40,000                  43,000                  46,000                  49,000                  52,000                 55,000                58,000                61,000                64,000                67,000                 70,000                   Increase $3,000 AnnuallyParks Equipment62,000                  64,000                  66,000                  68,000                  70,000                 72,000                74,000                76,000                78,000                80,000                 82,000                   Increase $2,000 AnnuallyCapital Equipment Revolving300,000               320,000               340,000              360,000               380,000              400,000             420,000             440,000             460,000             480,000              500,000               Increase $20,000 AnnuallyFire Reserve190,000               200,000               210,000              220,000               230,000              240,000             250,000             260,000             270,000             280,000              290,000               Increase $10,000 Annually Until Debt IssuedStorm Water34,000                  36,000                  38,000                  40,000                   42,000                  44,000                 46,000                 48,000                 50,000                 52,000                  54,000                   Increase $2,000 AnnuallyCapital Improvements 661,000                ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Evaluate AnnuallyCity Buildings & Property 25,000                   30,000                   35,000                   40,000                   45,000                  50,000                 55,000                 60,000                 65,000                 70,000                  75,000                   Increase $5,000 AnnuallySub‐total 2,362,000             1,793,000             1,885,000             1,977,000             2,069,000            2,161,000           2,253,000           2,345,000           2,437,000           2,529,000            2,621,000            Tax Rate ManagementFlexibility ‐                             1,041,636             1,020,133             1,044,811             1,059,969            1,081,584           1,119,150           1,447,305           1,446,585           1,553,539            1,551,698            Grand Total 7,828,425             8,326,795             8,659,868             9,006,262             9,366,513            9,741,173           10,130,820         10,536,053         10,957,495         11,395,795          11,851,627          Net Tax Capacity 22,591,258           24,028,761           24,989,911           25,989,507           27,029,088          28,110,251         29,234,661         30,404,048         31,620,210         32,885,018          34,200,419           Annual Capacity Increase of 4%Growth (%) 10.22% 6.36% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%Tax Rate34.653                  34.653                  34.653                  34.653                  34.653                 34.653                34.653                34.653                34.653                34.653                 34.653                  Increase/(Decrease) to Maintain Tax Rate‐                            (1)                          (0)                          0                           (0)                        0                          (0)                        (0)                        (0)                         0                           Levy DescriptionProjectionsX:\Budget\2022\Property Taxes\Tax Levy CalculationsFUTURE LEVIESItem 2 - #5 City of OtsegoPavement Management FundCash Flow SummaryRevised: June 17, 2021 10.53% 4.76% 4.55% 4.35% 4.17% 4.00% 3.85% 3.70%3.57% 3.45% 3.33%Actual Forecast2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 CommentsRevenuesProperty Taxes 950,000$              1,050,000$          1,100,000$          1,150,000$          1,200,000$          1,250,000$         1,300,000$         1,350,000$         1,400,000$         1,450,000$         1,500,000$          1,550,000$         Property Taxes (Reduction) ‐                             ‐                             ‐                             (50,000)                 (100,000)               (150,000)             (200,000)             (250,000)             (300,000)             (350,000)             (400,000)              (450,000)               Maintain at 2022 Levy ‐ Savings of $2.25 MillionFranchise Fees (Residential) ‐                             ‐                             685,632                685,632                685,632                685,632              685,632              685,632              685,632              685,632              685,632               685,632                Based on Ehlers Financial AnalysisFranchise Fees (Commercial) ‐                             ‐                             101,640                101,640                101,640                101,640              101,640              101,640              101,640              101,640              101,640               101,640                Based on Ehlers Financial AnalysisFranchise Fees (New Growth) ‐                             ‐                             ‐                             9,600                    19,200                  28,800                38,400                48,000                57,600                67,200                76,800                 86,400                  Based on Ehlers Financial AnalysisIntergovernmental (MSA) 251,422                237,908                239,098                240,293                241,494                242,702              243,915              245,135              246,361              247,593              248,830               250,075                MSA Maintenance (1/2% Annual Inflation)Intergovernmental (LGA) 62,870                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Special Assessments (Actual) 31,488                  ‐                             ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                             Actual Wright County SettlementsSpecial Assessments (Levied)‐                             30,992                 22,974                 21,682                 18,377                 17,842               12,579               7,995                 ‐                          ‐                          ‐                           ‐                             Existing levied assessmentsSpecial Assessments (Future)‐                            ‐                            4,900                   13,300                 26,916                 26,132               25,348               36,744               48,352               54,416               60,964                59,016                  Assessments on future projectsInvestment Interest124,282               ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Debt Issuance‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Transfers In1,111,482            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Total2,531,544            1,318,900            2,154,244            2,172,147            2,193,259            2,202,748          2,207,514          2,225,146          2,239,585          2,256,481          2,273,866           2,282,763            ExpensesEngineering24,694                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Other Charges & Services4,109                   ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Capital Outlay397,468               ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Capital Outlay (CIP‐Maintenance)‐                             722,952               945,090               1,115,623            958,737               999,694             945,951             1,253,726          821,708             660,145             709,876              913,350               2021‐2030 CIP / 2031 AVERAGECapital Outlay (CIP‐Renewal)‐                             715,582               1,626,298            654,226               163,787               79,718               754,956             523,147             577,693             476,886             450,812              602,311               2021‐2030 CIP / 2031 AVERAGECapital Outlay (CIP‐MSA)‐                            ‐                            ‐                            ‐                             431,497               ‐                          ‐                          ‐                          ‐                           1,648,693          ‐                            208,019               2021‐2030 CIP / 2031 AVERAGETransfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            Total426,271               1,438,534            2,571,388            1,769,849            1,554,021            1,079,412          1,700,907          1,776,873          1,399,401          2,785,724          1,160,688           1,723,680            Cash Balance ‐ Beginning3,199,088            5,304,220            5,184,586            4,767,442            5,169,740            5,808,978          6,932,314          7,438,922          7,887,195          8,727,378          8,198,135           9,311,313            Balance Sheet Effects(141)                     Revenues2,531,544            1,318,900            2,154,244            2,172,147            2,193,259            2,202,748          2,207,514          2,225,146          2,239,585          2,256,481          2,273,866           2,282,763            Expenditures(426,271)              (1,438,534)          (2,571,388)          (1,769,849)          (1,554,021)          (1,079,412)        (1,700,907)        (1,776,873)        (1,399,401)        (2,785,724)        (1,160,688)         (1,723,680)          Cash Balance ‐ Ending5,304,220$         5,184,586$         4,767,442$         5,169,740$         5,808,978$         6,932,314$        7,438,922$        7,887,195$        8,727,378$        8,198,135$        9,311,313$         9,870,396$         6,054,720$         More Cash Than Current ModelCash Balance ‐ % of Next Year Capital369%202%269%333%538%408%419%564%313%706%540%Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds201-Franchise FeesItem 2 - #3 Franchise Fee Revenue Analysis City of Otsego Counts / Revenue as of 4/2021 Impact Base Model Fee Schedule Customer Counts Annual Billing Average Bill 4% Monthly Flat Fee Annual Revenue Xcel Energy Residential 559 $774,459 $115.45 $4.62 $4.00 $26,832 Commercial/Industrial - Non-Demand 58 $32,834 $47.18 $1.89 $5.00 $3,480 Commercial/Industrial - Demand 15 N/A N/A N/A $40.00 $7,200 Commercial/Industrial - Large 5 N/A N/A N/A $95.00 $5,700 Street Lighting 4 $7,814 $162.79 $6.51 $0.00 $0 Municipal Pumping 1 $2,570 $214.17 $8.57 $0.00 $0 Subtotal 642 $817,677 $43,212 Wright Hennepin Electrical Cooperative Residential 5876 $8,226,400 $116.67 $4.67 $4.00 $282,048 Commercial/Industrial - Non-Demand 200 N/A N/A N/A $5.00 $12,000 Commercial/Industrial - Demand 1 N/A N/A N/A $40.00 $480 Public Street & Highway Lighting 639 N/A N/A N/A $0.00 $0 Subtotal 6716 $8,226,400 $294,528 Elk River Municipal Utility Residential 919 $1,221,434 $110.76 $4.43 $4.00 $44,112 Commercial/Industrial - Non-Demand 120 $370,490 $257.28 $10.29 $5.00 $7,200 Commercial/Industrial - Demand 15 $999,382 $5,552.12 $222.08 $95.00 $17,100 Subtotal 1054 $2,591,306 $68,412 Combined Electric Residential 7354 $10,222,293 $115.84 $4.63 $4.00 $352,992 Commercial/Industrial - Non-Demand 378 N/A N/A N/A $5.00 $22,680 Commercial/Industrial - Demand 16 N/A N/A N/A $40.00 $7,680 Commercial/Industrial - Large 20 $999,382 $4,164.09 $166.56 $95.00 $22,800 Street Lighting 643 $7,814 $1.01 $0.04 $0.00 $0 Municipal Pumping 1 $2,570 $214.17 $8.57 $0.00 $0 Subtotal 8412 $11,232,059 $406,152 Centerpoint Residential 6930 $4,471,831 $53.77 $2.15 $4.00 $332,640 Commercial/Industrial - A 64 $44,103 $57.43 $2.30 $5.00 $3,840 Commercial/Industrial - B 48 $388,642 $674.73 $26.99 $20.00 $11,520 Commercial/Industrial - C and Others 46 $372,449 $674.73 $26.99 $60.00 $33,120 Subtotal 7088 $5,277,025 $381,120 Allocation Tax Base Residential $685,632 87.1%83.1% Commercial $101,640 12.9%16.9% Total $787,272 Annual Fee Revenue Estimate Pooled for Customer Privacy Pooled for Customer Privacy Includes Seasonal / Irrigation Customer Privacy Customer Privacy Customer Privacy Customer Privacy "2020 Billing Abnormally Low" NotesProvider Estimates Item 2 - #2 Actual Net Tax Capacity - Payable 2021 $22,591,258 Average Annual PMF Fee / Levy Revenue:738,964 Estimated Tax Capacity Rate: Payable - 2021 Without PMF Levy 34.653% Payable - 2021 With PMF Levy 37.924% Estimated Tax Rate Increase:3.271% Estimated Market Value Net Tax Current Annual Equivalent PMF Market Value Exclusion Capacity City Tax Franchise Fee Levy Impact 150,000$ 23,740$ 1,263$ 437.53$ 96.00$ 41.30$ 175,000 21,490 1,535 531.96 96.00 50.21 200,000 19,240 1,808 626.39 96.00 59.13 225,000 16,990 2,080 720.82 96.00 68.04 Residential 259,300 13,903 2,454 850.37 96.00 80.27 Median Home Homestead 303,410 9,933 2,935 1,016.99 96.00 96.00 Break Even 350,000 5,740 3,443 1,192.96 96.00 112.61 400,000 1,240 3,988 1,381.82 96.00 130.44 500,000 - 5,000 1,732.65 96.00 163.55 750,000 - 8,125 2,815.56 96.00 265.77 750,000$ -$ 8,985$ 3,113.57$ 120.00$ 293.90$ 1,000,000 - 12,138 4,206.05 120.00 397.02 Commercial /2,500,000 - 31,053 10,760.94 120.00 1,015.76 Industrial 2,500,000 - 31,053 10,760.94 720.00 1,015.76 Examples 5,000,000 - 62,580 21,685.75 720.00 2,046.99 5,000,000 - 62,580 21,685.75 1,860.00 2,046.99 10,000,000 - 125,632 43,535.36 1,860.00 4,109.46 Electric Gas Total Monthly Total Annual Residential 4.00 4.00 8.00 96.00 Small Commercial 5.00 5.00 10.00 120.00 Med Commerical 40.00 20.00 60.00 720.00 Large Commercial 95.00 60.00 155.00 1,860.00 PROPERTY TAX INFORMATION Type of Property Sample Franchise Fee Schedule City of Otsego, Minnesota Estimated Tax Impact May 28, 2021 PMF Levy In Lieu of Franchise Fee (Base Model) SAMPLE TAX / FEE IMPACT ANALYSIS Prepared by Ehlers 5/28/2021 Item 2 - #2 City of OtsegoPavement Management FundCash Flow SummaryRevised: June 17, 2021 10.53% 4.76% 4.55% 4.35% 4.17% 4.00% 3.85% 3.70%3.57% 3.45% 3.33%Actual Forecast2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 CommentsRevenuesProperty Taxes 950,000$              1,050,000$           1,100,000$           1,150,000$           1,200,000$           1,250,000$          1,300,000$          1,350,000$          1,400,000$          1,450,000$          1,500,000$           1,550,000$          Intergovernmental (MSA) 251,422                237,908                239,098                240,293                241,494                242,702              243,915              245,135              246,361              247,593              248,830                250,075                MSA Maintenance (1/2% Annual Inflation)Intergovernmental (LGA) 62,870                   ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                              ‐                            Special Assessments (Actual) 31,488                   ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                              ‐                             Actual Wright County SettlementsSpecial Assessments (Levied) ‐                              30,992                   22,974                   21,682                   18,377                   17,842                 12,579                 7,995                   ‐                            ‐                            ‐                              ‐                             Existing levied assessmentsSpecial Assessments (Future) ‐                              ‐                              4,900                     13,300                   26,916                   26,132                 25,348                 36,744                 48,352                 54,416                 60,964                   59,016                   Assessments on future projectsInvestment Interest 124,282                ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                              ‐                            Debt Issuance ‐                              ‐                              ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            Transfers In1,111,482            ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            Total2,531,544            1,318,900            1,366,972            1,425,275            1,486,787            1,536,676          1,581,842          1,639,874          1,694,713          1,752,009          1,809,794            1,859,091            ExpensesEngineering24,694                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            Other Charges & Services4,109                    ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                             ‐                            Capital Outlay397,468                ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                              ‐                            Capital Outlay (CIP‐Maintenance)‐                              722,952                945,090                1,115,623             958,737                999,694              945,951              1,253,726           821,708              660,145              709,876                913,350                2021‐2030 CIP / 2031 AVERAGECapital Outlay (CIP‐Renewal)‐                              715,582                1,626,298             654,226                163,787                79,718                 754,956              523,147              577,693              476,886              450,812                602,311                2021‐2030 CIP / 2031 AVERAGECapital Outlay (CIP‐MSA) ‐                              ‐                              ‐                              ‐                              431,497                ‐                            ‐                            ‐                            ‐                            1,648,693           ‐                              208,019                2021‐2030 CIP / 2031 AVERAGETransfers Out ‐                              ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                              ‐                            Total 426,271                1,438,534             2,571,388             1,769,849             1,554,021             1,079,412           1,700,907           1,776,873           1,399,401           2,785,724           1,160,688             1,723,680            Cash Balance ‐ Beginning3,199,088             5,304,220             5,184,586             3,980,170             3,635,596             3,568,362           4,025,626           3,906,562           3,769,563           4,064,874           3,031,159             3,680,265            Balance Sheet Effects (141)                      Revenues 2,531,544             1,318,900             1,366,972             1,425,275             1,486,787             1,536,676           1,581,842           1,639,874           1,694,713           1,752,009           1,809,794             1,859,091            Expenditures (426,271)               (1,438,534)            (2,571,388)            (1,769,849)            (1,554,021)            (1,079,412)          (1,700,907)          (1,776,873)          (1,399,401)          (2,785,724)          (1,160,688)            (1,723,680)           Cash Balance ‐ Ending 5,304,220$          5,184,586$          3,980,170$          3,635,596$          3,568,362$          4,025,626$         3,906,562$        3,769,563$        4,064,874$        3,031,159$        3,680,265$         3,815,676$         (6,054,720)$        Less Cash than Franchise Fee ModelCash Balance ‐ % of Next Year Capital369%202%225%234%331%237%220%269%146%261%214%Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds201-Pavement ManagementItem 2 - #1 City of OtsegoTrail Management FundCash Flow SummaryRevised: June 17, 202121.21%7.50%6.98%6.52%6.12%5.77%5.45%5.17%4.92%4.69%4.48%Actual Forecast202020212022202320242025202620272028202920302031CommentsRevenuesProperty Taxes33,000$                40,000$                43,000$                46,000$                49,000$               52,000$               55,000$               58,000$               61,000$               64,000$                67,000$                70,000$               Intergovernmental‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Investment Interest1,420                    ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Miscellaneous‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Transfers In200,000                ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Consider TransferTotal234,420                40,000                  43,000                  46,000                  49,000                 52,000                55,000                58,000                61,000                64,000                 67,000                  70,000                ExpensesEngineering‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Other Charges & Services‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Capital Outlay32,250                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Capital Outlay (CIP‐Maintenance)‐                             33,000                  34,000                  35,000                  36,000                 37,000                38,000                39,000                40,000                41,000                 42,000                  43,000                 2021‐2030 CIP / 2031 DRAFTCapital Outlay (CIP‐Renewal)‐                              246,339                ‐                             ‐                             ‐                            90,000                ‐                           ‐                           ‐                           ‐                            ‐                            ‐                            2021 (Updated) / 2025 CIPTransfers Out‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            ‐                           Total32,250                  279,339                34,000                  35,000                  36,000                 127,000              38,000                39,000                40,000                41,000                 42,000                  43,000                Cash Balance ‐ Beginning2,561                     227,306                 (34,608)                  (25,608)                  (14,608)                 (1,608)                  (76,608)                (59,608)                (40,608)                (19,608)                 3,392                     28,392                Balance Sheet Effects 22,575                   (22,575)                 Revenues 234,420                 40,000                   43,000                   46,000                   49,000                  52,000                 55,000                 58,000                 61,000                 64,000                  67,000                   70,000                Expenditures (32,250)                  (279,339)               (34,000)                  (35,000)                  (36,000)                 (127,000)             (38,000)                (39,000)                (40,000)                (41,000)                 (42,000)                  (43,000)               Cash Balance ‐ Ending227,306$              (34,608)$               (25,608)$               (14,608)$               (1,608)$                 (76,608)$              (59,608)$              (40,608)$              (19,608)$              3,392$                   28,392$                 55,392$               Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds202-Trail ManagementItem 2 - #1 City of OtsegoPark Equipment FundCash Flow SummaryRevised: June 17, 2021 3.23% 3.13% 3.03% 2.94% 2.86% 2.78% 2.70% 2.63% 2.56%2.50%Actual Forecast202020212022202320242025202620272028202920302031CommentsRevenuesProperty Taxes60,000$               62,000$               64,000$               66,000$               68,000$               70,000$              72,000$              74,000$              76,000$              78,000$              80,000$               82,000$              Contributions ‐ Soccer‐                             20,000                 ‐                             10,000                 10,000                 10,000               10,000               10,000               10,000               10,000               10,000                 10,000                  Assumes Contribution ‐ Soccer LightingContributions ‐ Baseball‐                            ‐                             10,000                 10,000                 10,000                 10,000               10,000               10,000               10,000               10,000               10,000                 10,000                  Assumes Contribution ‐ Middle School FieldsInvestment Interest16,414                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Miscellaneous30,947                 18,556                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Transfers In80,000                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Total187,361               100,556               74,000                 86,000                 88,000                 90,000               92,000               94,000               96,000               98,000               100,000               102,000               ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Capital Outlay‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay (CIP) ‐                             ‐                             239,000                485,000                ‐                            ‐                           ‐                           ‐                           ‐                           102,000              ‐                             639,270                2021‐2030 CIPTransfers Out ‐                             49,503                  ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Pending Transfer ‐ Lawful GamblingTotal‐                             49,503                 239,000               485,000               ‐                           ‐                          ‐                          ‐                          ‐                           102,000             ‐                             639,270               Cash Balance ‐ Beginning424,738               604,799               655,852               490,852               91,852                 179,852             269,852             361,852             455,852             551,852             547,852               647,852               Balance Sheet Effects(7,300)                  Revenues187,361               100,556               74,000                 86,000                 88,000                 90,000               92,000               94,000               96,000               98,000               100,000               102,000               Expenditures‐                             (49,503)                (239,000)              (485,000)              ‐                           ‐                          ‐                          ‐                          ‐                           (102,000)            ‐                             (639,270)              Cash Balance ‐ Ending604,799$             655,852$             490,852$             91,852$               179,852$             269,852$            361,852$            455,852$            551,852$            547,852$            647,852$             110,582$             Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds205-Park EquipmentItem 2 - #1 City of OtsegoCapital Equipment Revolving FundCash Flow SummaryRevised: June 17, 2021 7.69% 7.14% 6.67% 6.25% 5.88% 5.56% 5.26% 5.00% 4.76%4.55%4.35%4.17%Actual Forecast202020212022202320242025202620272028202920302031CommentsRevenuesProperty Taxes280,000$             300,000$             320,000$             340,000$             360,000$            380,000$            400,000$            420,000$            440,000$            460,000$             480,000$             500,000$            Investment Interest10,149                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Sales of Fixed Assets‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Sales of Fixed Assets (Est.)‐                             37,000                 ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Utility Fund Contributions‐                             49,000                 175,000               49,000                 55,000                ‐                           648,000             51,240               ‐                          60,000                56,400                 56,400                Transfers In‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Total290,149               386,000               495,000               389,000               415,000              380,000             1,048,000          471,240             440,000             520,000              536,400               556,400              ExpensesPersonal Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Supplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Other Charges & Services‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Capital Outlay ‐ General‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                           ‐                            ‐                           Capital Outlay ‐ Public Safety24,907                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Streets 152,436                166,155                ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Parks 17,422                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay (Fleet CIP) ‐                             505,115                400,100                275,660                431,695               386,800              769,000              362,994              398,210              532,800               153,153                421,553               2021‐2030 CIP / 2031 AVERAGETransfers Out ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Total 194,765                671,270                400,100                275,660                431,695               386,800              769,000              362,994              398,210              532,800               153,153                421,553              Cash Balance ‐ Beginning394,536                390,669                105,399                200,299                313,639               296,944              290,144              569,144              677,390              719,180               706,380                1,089,627           Balance Sheet Effects (99,251)                Revenues 290,149                386,000                495,000                389,000                415,000               380,000              1,048,000          471,240             440,000             520,000              536,400               556,400              Expenditures(194,765)               (671,270)               (400,100)               (275,660)               (431,695)              (386,800)             (769,000)             (362,994)             (398,210)             (532,800)              (153,153)               (421,553)             Cash Balance ‐ Ending 390,669$              105,399$              200,299$              313,639$              296,944$             290,144$             569,144$             677,390$             719,180$             706,380$              1,089,627$          1,224,474$        Cash Balance ‐ % of Next Year Capital58% 26% 73% 73% 77% 38%157% 170% 135% 461% 258%Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds206-Capital EquipmentItem 2 - #1 City of OtsegoFire Reserves FundCash Flow SummaryRevised: June 17, 2021Actual Forecast2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 CommentsRevenuesProperty Taxes 180,000$              190,000$              200,000$              210,000$              220,000$              230,000$             ‐$                           ‐$                           ‐$                           ‐$                           ‐$                            ‐$                          Property Taxes (Debt Service) ‐                              ‐                              ‐                              ‐                              ‐                             ‐                            537,732              537,732              537,732              537,732              537,732               537,732                Levy at 105% of Debt ServiceSpecial Assessments 398                        ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                             ‐                            Investment Interest 54,072                   ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                             ‐                            Intergovernmental ‐                              ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            ‐                             ‐                            Miscellaneous ‐                              ‐                              ‐                              ‐                              ‐                             ‐                            ‐                            ‐                            ‐                            ‐                            574,252               574,252                Sale of Excess Property ‐ Odean & 75thDebt Issuance ‐                              ‐                              ‐                              ‐                              ‐                             5,500,000           ‐                            ‐                            ‐                            ‐                            ‐                             ‐                             $5M ‐ 15 Year Bond @ 4.5% InterestTransfers In ‐                              ‐                              ‐                              ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Total234,470               190,000               200,000               210,000               220,000               5,730,000          537,732             537,732             537,732             537,732             1,111,984           1,111,984            ExpensesFire Study‐                              20,000                  ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             Fire Services Evaluation StudyOther Charges & Services7,962                    ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Capital Outlay (Land)‐                             ‐                             ‐                              200,000               ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             Acquisition of Fire Station #3 ParcelCapital Outlay (Equipment)‐                             ‐                             ‐                             ‐                             ‐                             1,926,400          ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             Engine/Tender/Squad/Equip/Gear ‐ Page 117Capital Outlay (Building)‐                              ‐                              ‐                              ‐                              550,000                5,500,000           ‐                            ‐                            ‐                            ‐                            ‐                             ‐                             Design/Construction  ‐ ERFD Chief DickinsonDebt Service‐                             ‐                             ‐                             ‐                             ‐                            ‐                            512,126             512,126             512,126             512,126             512,126              512,126               $5.5M ‐ 15 Year Bond @ 4.5% InterestTransfers Out‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                           ‐                            ‐                            Total7,962                    20,000                  ‐                              200,000               550,000               7,426,400          512,126             512,126             512,126             512,126             512,126              512,126               Cash Balance ‐ Beginning1,564,514            1,791,201            1,961,201            2,161,201            2,171,201            1,841,201          144,801             170,407             196,014             221,620             247,226              847,085               Balance Sheet Effects179                       Revenues234,470               190,000               200,000               210,000               220,000               5,730,000          537,732             537,732             537,732             537,732             1,111,984           1,111,984            Expenditures(7,962)                   (20,000)                ‐                              (200,000)              (550,000)              (7,426,400)         (512,126)            (512,126)            (512,126)            (512,126)            (512,126)             (512,126)              Cash Balance ‐ Ending1,791,201$         1,961,201$         2,161,201$         2,171,201$         1,841,201$         144,801$            170,407$            196,014$            221,620$            247,226$            847,085$             1,446,943$         DISCLAIMER - TIMING AND COSTS OF FIRE CAPITAL PROJECTS FOR ILLUSTRATIVE PURPOSES ONLYProjection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds214-Fire ReserveItem 2 - #1 City of OtsegoCapital Improvements FundCash Flow SummaryRevised: June 17, 2021Actual Forecast2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 CommentsRevenuesProperty Taxes 318,000$              661,000$              ‐$                           ‐$                           ‐$                          ‐$                          ‐$                          ‐$                          ‐$                          ‐$                           ‐$                           ‐$                         Intergovernmental ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Special Assessments 52,023                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Special Assessments (Levied) ‐                             28,322                  27,557                  26,791                  26,026                 25,260                24,495                6,945                   5,076                   4,915                    ‐                             ‐                            Existing levied assessmentsInvestment Interest 45,446                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Tax Abatement ‐ City ‐                             ‐                             40,422                  57,770                  57,770                 57,770                57,770                57,770                57,770                57,770                 57,770                  57,770                 Parkview Retail Abatements (City)Tax Abatement ‐ County ‐                             ‐                             45,899                  63,834                  63,834                 63,834                63,834                63,834                34,931                ‐                            ‐                             ‐                            Parkview Retail Abatements (County)Sales of Capital Assets ‐                             ‐                             ‐                             ‐                            ‐                           ‐                          ‐                          ‐                          ‐                           ‐                            ‐                             ‐                           Miscellaneous 57,717                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Transfers In 632,244                ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Consider TransferTotal 1,105,430             689,322                113,878                148,395                147,630               146,864              146,099              128,549              97,777                62,685                 57,770                  57,770                ExpensesCapital Outlay ‐ General 31,858                  ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Public Safety‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Public Works 2,577,165             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Parks ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay ‐ Econ Dev‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Capital Outlay (Streets CIP) ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           38,000                ‐                           40,000                ‐                            ‐                             ‐                            2021‐2030 CIPCapital Outlay (County CIP) ‐                             783,628                87,338                  375,000                625,000               ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            2021‐2030 CIPCapital Outlay (Property CIP) ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            2021‐2030 CIPDevelopment Incentives ‐                             108,691                ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                            Waterfront East IncentivesTransfers Out ‐                             ‐                             ‐                             ‐                             ‐                            ‐                           ‐                           ‐                           ‐                           ‐                            ‐                             ‐                           Total 2,609,023             892,319                87,338                  375,000                625,000               ‐                           38,000                ‐                           40,000                ‐                            ‐                             ‐                           Cash Balance ‐ Beginning3,056,548             1,609,498             1,406,501             1,433,041             1,206,436             729,066              875,930              984,029              1,112,578          1,170,355          1,233,040            1,290,810           Balance Sheet Effects56,543                 Revenues1,105,430            689,322               113,878               148,395               147,630              146,864             146,099             128,549             97,777               62,685                57,770                 57,770                Expenditures(2,609,023)          (892,319)              (87,338)                (375,000)              (625,000)              ‐                           (38,000)              ‐                           (40,000)              ‐                           ‐                            ‐                           Cash Balance ‐ Ending1,609,498$         1,406,501$         1,433,041$         1,206,436$         729,066$            875,930$            984,029$            1,112,578$        1,170,355$        1,233,040$        1,290,810$         1,348,580$        Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds414-Capital Imp.Item 2 - #1 City of OtsegoCity Buildings & Property MaintenanceCash Flow SummaryRevised: June 17, 2021 25.00% 20.00% 16.67% 14.29% 12.50% 11.11% 10.00%9.09%8.33%7.69%7.14%Actual Forecast202020212022202320242025202620272028202920302031CommentsRevenuesProperty Taxes20,000$               25,000$               30,000$               35,000$               40,000$              45,000$              50,000$              55,000$              60,000$              65,000$               70,000$               75,000$              Investment Interest749                       ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Miscellaneous‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Debt Issuance‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Transfers In100,000               ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total120,749               25,000                 30,000                35,000                 40,000                45,000               50,000               55,000               60,000               65,000                 70,000                 75,000               ExpensesSupplies‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Other Charges & Services12,984                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (City Hall)35,873                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (Prairie Center)42,923                 ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Capital Outlay (CIP)‐                            65,186                 28,000                22,000                 10,000                10,000               ‐                          ‐                          ‐                          ‐                            70,000                 ‐                           2021‐2030 CIPCapital Outlay (IT CIP)‐                            ‐                            ‐                            ‐                            ‐                           50,000               ‐                          50,000               ‐                           150,000               50,000                 ‐                           2021‐2030 CIPTransfers Out‐                            ‐                            ‐                            ‐                            ‐                           ‐                          ‐                          ‐                          ‐                          ‐                            ‐                           ‐                          Total91,780                 65,186                 28,000                22,000                 10,000                60,000               ‐                          50,000               ‐                           150,000               120,000               ‐                          Cash Balance ‐ Beginning55,166                 84,135                 43,949                45,949                 58,949                88,949               73,949               123,949             128,949             188,949               103,949               53,949               Balance Sheet Effects‐                            Revenues120,749               25,000                  30,000                 35,000                  40,000                 45,000                50,000                55,000                60,000                65,000                  70,000                  75,000               Expenditures (91,780)                 (65,186)                 (28,000)                 (22,000)                 (10,000)                (60,000)               ‐                           (50,000)               ‐                           (150,000)               (120,000)               ‐                          Cash Balance ‐ Ending 84,135$                43,949$                45,949$                58,949$                88,949$               73,949$               123,949$             128,949$             188,949$             103,949$              53,949$                128,949$            Projection ‐ Capital Improvement PlanX:\Budget\2022\Cash Flows\Capital Funds439-Buildings & PropertyItem 2 - #1