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03-16-09 SCC
Memo To: City Council From: Gary Groen Date: March 12, 2009 Re: Budget information for Mondays meeting Enclosed for your review is the financial information to be discussed at our workshop on Monday, March 16. The information is divided into four sections as follows: 1) Review 2008 preliminary results of General Fund activity, 2) Discuss potential General Fund expenditure reductions, 3) Discuss changes in City and Deputy Clerk positions, 4) Review various capital improvement reserves, 5) Review City's current outstanding debt obligations. I look forward to a very good meeting. If you have any questions on Monday as you review this information, please do not hesitate to call Mike or myself. 0 Page 1 City of Otsego Preliminary Results of General Fund Budget Year Ended December 31, 2008 Budgeted Increase in Fund Balance 2008 Budgeted Revenues 2008 Budgeted Expenditures Revenue Budget - Favorable Variance Expenditure Budget - Favorable Budget Total Preliminary Increase in General Fund Balance Fund Balance, January 1, 2008 Fund Balance Projection, December 31, 2008 Total 2009 General Fund Expenditure Balance Fund Balance as a Percent of 2009 Expenditures $ 3,754,700 3,568,752 $ 185,948 131,810 129,030 446,788 1,100,748 $ 1,547,536 $ 3,826,858 40.44% CITY OF OTSEGO 03/12/09 8:41 AM *Revenue Guideline© Page 1 Current Period: DECEMBER 2008 Act % Status Account Descr YTD Budget YTD Amount MTD Amount Balance of Budget FUND 101 GENERAL FUND Active R 101-31000 General Property Taxes $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31010 Current Ad Valorem Taxes $2,989,565.00 $2,979,489.20 $1,497,506.65 $10,075.80 99.66% Active R 101-31020 Delinquent Ad Valorem Ta $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31030 Mobile Home Tax $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31800 Other Taxes $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31900 Penalties and Interest Del $0.00 $1,867.10 $0.00 -$1,867.10 0.00% Active R 101-32100 Business Licenses/Permit $17,500.00 $23,495.00 $4,750.00 -$5,995.00 134.26% Active R 101-32180 Other Licenses/Permits $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-32210 DOG LICENSES $250.00 $362.00 $30.00 -$112.00 144.80% Active R 101-32250 Sign Permit $500.00 $1,100.00 $200.00 -$600.00 220.00% Active R 101-32280 WETLAND REVIEW FEE $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-32290 WEIGHT PERMITS $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33160 Other Federal Grants $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33401 Local Government Aid $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33402 Homestead Credit $0.00 $92,377.75 $2,925.75 -$92,377.75 0.00% Active R 101-33403 Mobile Home Homestead $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33404 RECYLING GRNT FROM $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33405 POLICE AID $30,000.00 $45,635.43 $0.00 -$15,635.43 152.12% Active R 101-33406 MSA MAINTENANCE $117,000.00 $119,451.00 $0.00 -$2,451.00 102.09% Active R 101-33422 Other State Aid Grants $1,872.00 $1,872.00 $936.00 $0.00 100.00% Active R 101-34050 Administrative Fees $40,000.00 $100.00 $0.00 $39,900.00 0.25% Active R 101-34100 CONDITIONAL USENARI $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34103 Zoning and Subdivision Fe $0.00 $13,563.50 $1,770.00 -$13,563.50 0.00% Active R 101-34105 Sale of Maps and Publicati $250.00 $558.69 $352.64 -$308.69 223.48% Active R 101-34107 Assessment Search Fees $500.00 $700.00 $70.00 -$200.00 140.00% Active R 101-34130 SNOWPLOWING $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34150 TOPO SALES $500.00 $0.00 $0.00 $500.00 0.00% Active R 101-34200 Public WORKS - GRAVEL $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34201 MINING FEES $1,000.00 $0.00 $0.00 $1,000.00 0.00% Active R 101-34301 Street, Sidewalk and Curb $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34303 PW Charges - other depar $0.00 $6,217.44 $6,022.44 -$6,217.44 0.00% Active R 101-34320 STREET LIGHT OP $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34330 GRADING REVIEWS $0.00 $0.00 -$360.00 $0.00 0.00% Active R 101-34408 CLEAN UP DAY Charges $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34710 RECREATION FEES $0.00 $330.00 $0.00 -$330.00 0.00% Active R 101-35101 FINES & FORFEITS $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-36100 Special Assessments $500.00 $450.50 $225.25 $49.50 90.10% Active R 101-36200 Miscellaneous Revenues $0.00 $1,207.60 $0.00 -$1,207.60 0.00% Active R 101-36210 Interest Earnings $100,000.00 $134,624.76 -$583,761.42 -$34,624.76 134.62% Active R 101-37165 Watertower rentals-antenn $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-38000 RENTAL $40,000.00 $44,200.00 $350.00 -$4,200.00 110.50% Active R 101-38010 HPC BOOK SALES $0.00 $841.53 $0.00 -$841.53 0.00% Active R 101-38020 Donations/contributions $0.00 $500.00 $500.00 -$500.00 0.00% Active R 101-38050 Cable TV FRANCHISE FE $60,000.00 $60,491.84 $2,771.94 -$491.84 100.82% CITY OF OTSEGO 03/12/09 8:41 AM *Revenue Guideline© Page 2 Current Period: DECEMBER 2008 Act % Status Account Descr YTD Budget YTD Amount MTD Amount Balance of Budget Active R 101-38990 OTHER MISCELLANEOU $0.00 -$80.00 -$230.00 $80.00 0.00% Active R 101-38991 REFUND & REIMBURSE $0.00 $1,891.65 $0.00 41,891.65 0.00% Active R 101-39000 Other Financing Sources $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-39101 Sales of General Fixed As $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-39200 Interfund Operating Transf $355,263.00 $355,263.00 $0.00 $0.00 100.00% Active R 101-39300 Proceeds -Gen Long-term $0.00 $0.00 $0.00 $0.00 0.00% FUND 101 GENERAL FUND $3,754,700.00 $3,886,509.99 $934,059.25 -$131,809.99 103.51% CITY OF OTSEGO Expenditure Accounts - Dept Sum 03/10/09 5:48 PM Page 1 DEPT DEPT Descr 2008 YTD Budget 2008 YTD Amt DECEMBER 2008 Amt Balance 2008 % of Budget FUND 101 GENERAL FUND 41000 General Government (GENER $0.00 $0.00 $0.00 $0.00 0.00% 41100 CITY COUNCIL $60,642.00 $55,993.81 $16,984.29 $4,648.19 92.34% 41400 Administration $416,298.00 $343,906.08 $1,685.98 $72,391.92 82.61% 41410 Elections $31,000.00 $33,192.56 $7,920.04 -$2,192.56 107.07% 41530 PLANNING COMMISSION $5,237.00 $1,822.34 $600.00 $3,414.66 34.80% 41550 Assessing $72,000.00 $67,462.50 $0.00 $4,537.50 93.70% 41560 Engineer $80,000.00 $101,267.29 $41,301.36 -$21,267.29 126.58% 41570 Planner $44,200.00 $51,795.44 $9,289.02 -$7,595.44 117.18% 41600 Finance $149,879.00 $151,352.09 -$26,557.08 -$1,473.09 100.98% 41700 Legal Services $35,000.00 $63,044.50 $12,595.00 -$28,044.50 180.13% 41900 Economic Development Autho $6,000.00 $7,268.17 $7,268.17 -$1,268.17 121.14% 41940 General Govt Buildings-8899 $60,700.00 $55,780.54 $4,735.76 $4,919.46 91.90% 41950 Old Town Hall $3,300.00 $1,603.23 $42.27 $1,696.77 48.58% 41960 Shed & Other Buildings $0.00 $0.00 $0.00 $0.00 0.00% 41970 Peavey House $0.00 $0.00 $0.00 $0.00 0.00% 42100 Police -Contracted $788,400.00 $790,560.00 $65,880.00 -$2,160.00 100.27% 42150 Police Commission $2,710.00 $1,781.03 $720.00 $928.97 65.72% 42410 Building Inspections $0.00 $0.00 $0.00 $0.00 0.00% 42420 Code Enforcement $0.00 $0.00 $0.00 $0.00 0.00% 42710 Animal Control $4,500.00 $7,437.52 $1,703.44 -$2,937.52 165.28% 43100 Hwys, Streets, & Roads $1,275,920.00 $1,231,035.07 $37,015.66 $44,884.93 96.48% 43160 Street Lighting $90,000.00 $102,854.73 $13,824.58 -$12,854.73 114.28% 43610 Recycling $0.00 $0.00 $0.00 $0.00 0.00% 43620 Clean Up Day $10,000.00 $10,095.28 $0.00 -$95.28 100.95% 45100 Recreation - Contracted $0.00 $0.00 $0.00 $0.00 0.00% 45200 Parks Maintenance $227,466.00 $167,308.59 $25,198.54 $60,157.41 73.55% 45250 Park Commission Activities $25,000.00 $13,920.76 $7,359.10 $11,079.24 55.68% 45300 Heritage Preservation Comm $500.00 $240.00 $240.00 $260.00 48.00% 45400 River Rider Transportation $0.00 $0.00 $0.00 $0.00 0.00% 49300 Other Finanacing Uses $180,000.00 $180,000.00 $0.00 $0.00 100.00% FUND 101 GENERAL FUND $3,568,752.00 $3,439,721.53 $227,806.13 $129,030.47 96.38% FUND 250 Comm. Dev. & Bldg Safety 41560 Engineer $0.00 $0.00 $0.00 $0.00 0.00% 41570 Planner $0.00 $0.00 $0.00 $0.00 0.00% 41700 Legal Services $0.00 $0.00 $0.00 $0.00 0.00% 42410 Building Inspections $830,419.00 $765,002.72 $164,052.31 $65,416.28 92.12% 42420 Code Enforcement $0.00 $0.00 $0.00 $0.00 0.00% FUND 250 Comm. Dev. & Bldg Safety $830,419.00 $765,002.72 $164,052.31 $65,416.28 92.12% FUND 601 WATER FUND 49400 Water Utilities (GENERAL) $0.00 $462,894.03 -$31,427.33 -$462,894.03 0.00% FUND 601 WATER FUND $0.00 $462,894.03 -$31,427.33 -$462,894.03 0.00% FUND 602 SEWER FUND 49450 Sewer (GENERAL) $0.00 $683,732.05 $144,665.42 -$683,732.05 0.00% FUND 602 SEWER FUND $0.00 $683,732.05 $144,665.42 -$683,732.05 0.00% $4,399,171.00 $5,351,350.33 $505,096.53 -$952,179.33 121.64% FILTER: (((FUND="101" Or FUND="250" Or FUND="601" Or FUND="602"))) AND ((Not DEPT="47000")) CITY OF OTSEGO 03/12/09 8:48 AM Page 1 Cash Balances Current Period: DECEMBER 2008 MTD MTD Current FUND Descr Account Debit Credit Balance CASH & INVESTMENTS GENERAL FUND G 101-10100 $1,691,917.36 $953,197.66 $1,262,958.81 PAVEMENT AND TRAIL MANAGEMENT G 201-10100 $28,304.67 $5,346.98 $268,870.96 FIRE FUND G 202-10100 $0.00 $0.00 $0.00 PARK DEVELOPMENT G 203-10100 $45,416.15 $1,078.32 $1,158,890.17 INSURANCE RESERVE G 204-10100 $5,584.71 $5,128.10 $58,890.70 PARK SHELTER FUND G 205-10100 $0.00 $0.00 $0.00 CAPITAL EQUIPMENT REVOLVING G 206-10100 $15,211.86 $0.00 $405,991.96 PARK TREE FUND G 207-10100 $130.04 $0.00 $3,480.29 COMMUNITY FACILITIES FUND G 208-10100 $37,353.60 $0.00 $1,000,716.56 ER Fire District G 210-10100 $85,236.41 $0.00 $179,866.62 Albertville Fire District G 211-10100 $88,047.16 $50,809.42 $312,905.91 Rogers Fire District G 212-10100 $9,116.27 $0.00 $17,983.08 Monticello Fire District G 213-10100 $12,760.30 $0.00 $25,074.93 Citywide Stormwater(NPDES II) G 222-10100 $36,873.52 $0.00 $0.00 Street Light Utility Fee G 225-10100 $0.00 $0.00 $0.00 Comm. Dev. & Bldg Safety G•250-10100 $48,460.42 $153,644.33 -$114,137.95 GENERAL DEBT SERVICE G 301-10100 $0.00 $0.00 $0.00 1996 GO DEBT SERVICE G 302-10100 $0.00 $0.00 $0.00 W & S DEBT SERVICE (E. WWTP) G 315-10100 $48,663.68 $0.00 $1,347,429.44 1999 Bituminous Debt Service G 316-10100 $18,610.59 $0.00 $15,089.24 99 Equip Debt ServiceG 321-10100 $0.00 $0.00 $0.00 Waterfront West/85th DS G 350-10100 $241,118.22 $0.00 $589,253.70 West W & S Debt Service Fund G 360-10100 $247,069.80 $0.00 $4,900,052.26 Quaday Debt Service-2004 Bond G 365-10100 $26,873.49 $0.00 $486,359.90 East Phase III Debt Service G 370-10100 $0.00 $0.00 $0.00 WATERFRONT EAST & MISS. SHORES G 375-10100 $291,808.14 $0.00 $70,066.43 2006 Street Improvement G 380-10100 $312,573.78 $0.00 $435,812.87 2007 Public Facility Lease Rev G 385-10100 $2,876.97 $0.00 $13,923.61 Quantrelle & 88th Street Debt G 395-10100 $929.93 $0.00 $28,570.70 MUNICIPAL BUILDING CONSTUCT G 402-10100 $0.00 $0.00 $0.00 COLLECTOR RDS (FORMERLY MSA) G 403-10100 $28,851.46 $256,283.32 $527,009.20 WATERSHED PROJECT FUND G 404-10100 $0.00 $0.00 $0.00 No. Mississippi Watershed G 405-10100 $0.00 $0.00 -$302,691.79 Lefebvre Watershed G 406-10100 $0.00 $0.00 -$141,512.83 Hall's Pond Watershed G 407-10100 $0.00 $0.00 -$86,407.44 Otsego Creek Watershed G 408-10100 $32,243.09 $638.16 $851,076.92 So. Mississippi Watershed G 409-10100 $2,785.10 $0.00 $74,524.11 Queens Avenue Watershed Distri G 410-10100 $0.00 $0.00 -$11,814.21 ISLAND VIEW 1996 PROJECT G 411-10100 $0.00 $0.00 $0.00 94-12 ODEAN G 412-10100 $0.00 $0.00 $0.00 1998 ODEAN PROJECT G 413-10100 $4,030.81 $0.00 -$27,179.81 Revolving Capital Improvements G 414-10100 $51,406.42 $4,747.49 $708,913.79 WATER & SEWER CONST-E. Phase 1 G 415-10100 $0.00 $0.00 $0.00 1999 Bit. Capital Project G 416-10100 $0.00 $0.00 $0.00 CITY OF OTSEGO 03/12/09 8:48 AM Cash Balances Page 2 Current Period: DECEMBER 2008 FUND Descr Account MTD Debit MTD Credit Current Balance 78th, Page & Quaday S & W G 417-10100 $0.00 $0.00 -$36,719.60 78th Street Construction G 418-10100 $0.00 $0.00 -$193,726.95 78th, Page & Quaday Storm Swr. G 419-10100 $0.00 $0.00 $0.00 Page Ave. Street Construction G 420-10100 $0.00 $0.00 $0.00 99 Equipment Certificates G 421-10100 $0.00 $0.00 $0.00 88th Street Improvement G 422-10100 $0.00 $0.00 $0.00 Quaday Watefront Project G 423-10100 $0.00 $0.00 $0.00 CITY WIDE ST ACCESS FEE G 424-10100 $1,171.50 $0.00 $31,359.50 G 425-10100 $0.00 $0.00 $0.00 Quaday & CSAH 37 G 426-10100 $0.00 $0.00 $239.00 MACIVER170TH ST ACCESS G 427-10100 $0.00 $0.00 -$195.87 WEST WATER PROJ G 428-10100 $0.00 $0.00 $0.00 WWTP-East Phase 2 G 429-10100 $0.00 $0.00 $0.00 West Trimnt Plant -Phase 1 G 430-10100 $0.00 $0.00 -$1,755.60 Slab Town W & S G 431-10100 $1,537.70 $0.00 -$11,100.85 East WWTP Phase III G 432-10100 $477.35 $1,854.50 $15,363.92 85TH STREET EXTENT G 434-10100 $0.00 $0.00 $0.00 85th Street Project - East G 435-10100 $0.00 $0.00 $0.00 85th Street Project - West G 436-10100 $0.00 $0.00 $0.00 87TH/OBRIAN IMPROV G 437-10100 $0.00 $0.00 $0.00 West Street Improvements G 440-10100 $12,071.48 $12,567.31 $220,565.78 Otsego Municipal Building Fund G 441-10100 $36,807.34 $0.00 $846,909.61 Water Treatment Project 207-08 G 442-10100 $0.00 $0.00 -$52,364.77 HWY 101 Project Costs G 443-10100 $0.00 $0.00 $0.00 SE Utilities Project G 444-10100 $29,910.30 $80,654.67 $68,839.50 Waterfront West G 445-10100 $0.00 $0.00 $0.00 RANDOLPH STREET ACCESS FEES G 450-10100 $0.00 $0.00 $0.00 Waterfront East/Miss. Shores G 475-10100 $0.00 $0.00 -$610.06 194/CSAH 37/19 & Kadler G 480-10100 $0.00 $0.00 -$10,757.91 Street Impr. Fund - 2006 G 485-10100 $0.00 $550.65 -$26,370.41 194 Industrial Park - W/S PROJ G 490-10100 $0.00 $0.00 -$172.45 2007 Friendship &Quantrelle G 495-10100 $1,365.50 $278.49 -$34,582.83 WELLHEAD PROTECTION PROJECT G 499-10100 $0.00 $747.81 -$14,364.73 WATER FUND G 601-10100 $137,378.90 $43,597.35 $590,523.14 SEWER FUND G 602-10100 $84,616.76 $103,543.50 $125,778.79 G 699-10100 $0.00 $0.00 $0.00 DEVELOPMENT ESCROWS FUND G 701-10100 $102,259.09 $43,329.94 $741,234.33 BUILDERS ESCROW FUND G 702-10100 $2,000.00 $3,500.00 $104,480.31 Wetland Escrows G 703-10100 $0.00 $0.00 $10,533.00 Total CASH & INVESTMENTS $3,823,849.87 $1,721,498.00 $16,433,072.98 Cash with Fiscal Agent 1999 Bituminous Debt Service G 316-10101 $0.00 $0.00 $0.00 Total Cash with Fiscal Agent $0.00 $0.00 $0.00 Change Fund CITY OF OTSEGO 03/12/09 8:42 AM *Revenue Guideline© Page 1 Current Period: JANUARY 2009 Act % Status Account Descr YTD Budget YTD Amount MTD Amount Balance of Budget FUND 101 GENERAL FUND Active R 101-31000 General Property Taxes $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31010 Current Ad Valorem Taxes $3,231,986.00 $0.00 $0.00 $3,231,986.00 0.00% Active R 101-31020 Delinquent Ad Valorem Ta $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31030 Mobile Home Tax $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31800 Other Taxes $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-31900 Penalties and Interest Del $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-32100 Business Licenses/Permit $17,500.00 $50.00 $50.00 $17,450.00 0.29% Active R 101-32180 Other Licenses/Permits $500.00 $0.00 $0.00 $5W.00 0.00% Active R 101-32210 DOG LICENSES $250.00 $10.00 $10.00 $240.00 4.00% Active R 101-32250 Sign Permit $0.00 $50.00 $50.00 -$50.00 0.00% Active R 101-32280 WETLAND REVIEW FEE $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-32290 WEIGHT PERMITS $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33160 Other Federal Grants $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33401 Local Government Aid $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33402 Homestead Credit $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33403 Mobile Home Homestead $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33404 RECYLING GRNT FROM $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-33405 POLICE AID $33,500.00 $0.00 $0.00 $33,500.00 0.00% Active R 101-33406 MSA MAINTENANCE $126,000.00 $0.00 $0.00 $126,000.00 0.00% Active R 101-33422 Other State Aid Grants $1,872.00 $0.00 $0.00 $1,872.00 0.00% Active R 101-34050 Administrative Fees $20,000.00 $0.00 $0.00 $20,000.00 0.00% Active R 101-34100 CONDITIONAL USE/VARI $0.00 $0.00 $0.00 $0.00 0,00% Active R 101-34103 Zoning and Subdivision Fe $0.00 $1,180.00 $1,180.00 -$1,180.00 0.00% Active R 101-34105 Sale of Maps and Publicati $250.00 $0.00 $0.00 $250.00 0.00% Active R 101-34107 Assessment Search Fees $500.00 $35.00 $35.00 $465.00 7.00% Active R 101-34130 SNOWPLOWING $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34150 TOPO SALES $500.00 $0.00 $0.00 $5W.00 0.00% Active R 101-34200 Public WORKS - GRAVEL $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34201 MINING FEES $50,000.00 $0.00 $0.00 $50,000.00 0.00% Active R 101-34301 Street, Sidewalk and Curb $0.00 $1,505.00 $1,505.00 -$1,505.00 0.00% Active R 101-34303 PW Charges - other depar $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34320 STREET LIGHT OP $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34330 GRADING REVIEWS $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34408 CLEAN UP DAY Charges $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-34710 RECREATION FEES $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-35101 FINES & FORFEITS $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-36100 Special Assessments $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-36200 Miscellaneous Revenues $0.00 $3,069.03 $3,069.03 -$3,069.03 0.00% Active R 101-36210 Interest Earnings $100,000.00 $18,318.71 $18,318.71 $81,681.29 18.32% Active R 101-37165 Watertower rentals-antenn $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-38000 RENTAL $87,000.00 $350.00 $350.00 $86,650.00 0.40% Active R 101-38010 HPC BOOK SALES $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-38020 Donations/contributions $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-38050 Cable TV FRANCHISE FE $75,000.00 $0.00 $0.00 $75,000.00 0.00% CITY OF OTSEGO 03/12/09 8:42 AM *Revenue Guideline© Page 2 Current Period: JANUARY 2009 Act % Status Account Descr YTD Budget YTD Amount MTD Amount Balance of Bud ^VUVw F% I V 1-JOWUV V 1 P1CR MIJIrCILMNr-UU W.UV WuU $U.DQ $0.00 0.00% Active R 101-38991 REFUND & REIMBURSE $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-39000 Other Financing Sources $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-39101 Sales of General Fixed As $0.00 $0.00 $0.00 $0.00 0.00% Active R 101-39200 Interfund Operating Transf $82,000.00 $0.00 $0.00 $82,000.00 0.00% Active R 101-39300 Proceeds -Gen Long-term $0.00 $0.00 $0.00 $0.00 0.00% FUND 101 GENERAL FUND $3,826,858.00 $24,567.74 $24,567.74 $3,802,290.26 0.64% City of Otsego Summary of 2008 and 2009 General Fund Expenditure Budget by Activity Increase (Decrease) from 2008 2009 2008 City Council $ 60,642 $ 61,642 $ 1,000 Administration 416,298 474,310 58,012 includes $50,OOOfor GIS Elections 31,000 500 (30,500) no election in 2009 Planning Commission 5,237 5,237 - Assessing 72,000 70,000 (2,000) Engineer 80,000 80,000 - Planner 44,200 44,200 - Finance 149,879 153,813 3,934 Legal Services 35,000 45,000 10,000 Economic Development 6,000 8,000 2,000 General Government Buildings 60,700 73,910 13,210 Addt'l repair &mtce. Old Town Hall 3,300 3,000 (300) Police Services 788,400 817,600 29,200 increase of $2 per hour Police Commission 2,710 2,710 - Animal Control 4,500 5,000 500 Public Works 1,275,920 1,312,140 36,220 Street Lighting 90,000 110,000 20,000 to catch up to actual cost Clean-up Day 10,000 11,000 1,000 Park Maintenance 227,466 253,370 25,904 addt'l $20,000 for small Park Commission Activities 25,000 28,000 31000 capital items H PC 500 500 - Transfer forPW Equipment 180,000 266,926 86,926 increase of $10,000 plus budget reserve $ 3,568,752 $ 3,826,858 $ 258,106 Personnel Services Contracted Services Capital Outlay Items Utilities Insurance Other City of Otsego Summary of 2008 and 2009 General Fund Expenditure Budget by Object Increase (Decrease) % of from 2009 2008 2009 2008 Budget $ 1,109,298 $ 1,140,532 $ 31,234 29.80% 1,130,000 1,248,520 118,520 32.63% 795,763 787,310 (8,453) 20.57% 174,600 212,500 37,900 5.55% 128,000 142,750 141750 3.73% 231,091 295,246 64,155 7.72% Total Expenditure Budget $ 3,568,752 $ 3,826,858 $ 258,106 100.00% MEMO Date: March 12, 2009 To: Mayor & Council From: City Administrator Mike Robertson Re: Potential 2009 Budget Cuts City staff has enclosed a list of potential budget cuts based on pending action of the State Legislature. While the State budget will not be decided until May or possibly later, we should proceed under the assumption that all of the Market Value Homestead Credit (MVHC) that Otsego is scheduled to receive will be cut. That would be a cut of $187,921 for 2009. This cut is approximately 4.8% of anticipated 2009 revenue. While in one sense the City Council has already addressed this cut by adopting a budget that only expected to receive 95% of levied taxes in 2009, prudence dictates that we should make additional cuts. Though the State could not cut any more revenue from us because we don't receive any, the current economic picture is not promising. Additional cuts should be made if only to build up City reserves against future problems. City of Otsego Projected Budget Reductions in 2009 Clean-up Day Reduction was approved by Council action on February 9, 2009 11,000 Annual Audit Cost Reduced based on discussion with auditor 1,400 City Clerk -Treasurer Vacancy April to December, 2009, Salary & benefits 55,252 Net increase in Deputy-Clerk/Special Licensing salary & benefits (6,068) Additional administrative part-time staffing (approx. 700 hours) (10,000) Additional planner time for 2009 (10,000) 29,185 General Fund Tax Levy increased to 9/15 amount Tax Levy presented at TNT meeting 3,654,915 Tax Levy approved at TNT meeting 3,720,690 65,775 Street lighting maintenance financed by special fee 10,000 Other 1,151 Total Budgeted as additional contribution for PW Equipment 76,926 PW Class 5 Budget Reduce Class 5 budget from $30,000 to $5,000 25,000 GIS Services Total 2009 budget is $50,000. Engineer's charges of $10,000 already absorbed in 2008 (i.e. It was billed and paid to HAK in 2008) $10,000 also in 2009 budget. This reduces 2009 GIS budget to $40,000 101000 PW Office Assistant Budgeted office assistant for 2009 14,000 PW Staff Addition Scheduled for April, 2009 Replace full-time with additional part-time Budget for salary and benefits 59,173 Cost of additional part-time (Approximately 1,400 hours) (25,000) PW Sign Replacement Program 2009 budget 20,000 Maintain sign replacement program at current level (10,000) 34,173 10,000 City of Otsego Projected Budget Reductions in 2009 - Page Two PW Dust Control Eliminate dust control service for certain gravel roads City Hall Cleaning Budget Reduce cleaning at city hall and public works from weekly to biweekly PW Pavement Management Program Reduces planned reserve for future pavement maintenance to a lesser amount - Engineer has estimates for future years 2009 current budget PW Cold Storage Building 2009 current budget to repair cold storage building and roof with balance used to establish beginning of public works building or park equipment long-term replacement requirements Park and Recreation Capital Improvements 2009 current budget Reduction of first year small capital outlay budget from current budget of $20,000 to $10,000 Bi-monthly Newsletter Eliminate the City's bi-monthly newsletter Public Safety Reduce county's contract from 40 to 32 hours of police coverage daily 2009 budget for police coverage is at $56 per hour PW Bike Path Maintenance Eliminate the snowplowing of bike paths except for school access Recreation Program Eliminate cooperative park & recreation program administered by ISD 728 Community Education Department Total Budget Reductions Total Required 2009 Budget Reductions to Meet Governor's Proposed Aid Reduction Plan 355,384 (405,384) 12,500 6,630 50,000 50,000 10,000 17,500 163,520 5,000 21,000 $ 547,834 $ 187,921 Balance (absorbed) added from/to the Fund Balance $ 359,913 City of Otsego Projected Budget Reductions in 2009 - Page Three OTHER BUDGET FINANCING SOURCES Potential Budget Transfers Fund Balance Reduction $ 1_ 00 000 The fund balance has increased by over $400,000 in 2008 due to the receipt of delinquent taxes and the City's spending restraint. The preliminary fund balance at December 31, 2008 is 40.4% of the 2009 budgeted expenditures of $3,826,858. This is an increase from 30.8% at the end of 2007. Reducing the fund balance by $100,000 reduces the reserve fund balance percentage to 37.8%. The Office of State Auditor fund balance guidleline for an "acceptable" fund balance level is between 35% and 50% to meet the City's cash flow requirements. Potential Revenue Enhancement Sale of Peavey House property $ 60,000 MEMO Date: March 12, 2009 To: Mayor & Council From: City Administrator Mike Robertson Re: City Clerk/Deputy Clerk Salaries This memo is to discuss the salaries for Tami Loff and Sandy Lindenfelser upon their taking over their new positions. I have also enclosed a copy of the last market study done on comparable salaries for City Clerks and Deputy Clerks of nearby communities. That memo is dated August 21, 2006. CITY CLERK When comparing City Clerk salaries with those in other communities in 2006 there was no attempt made to compare the actual job descriptions. This is because the duties of a City Clerk tend to vary from city to city depending on the size and history of the city. Besides the statutory duties, City Clerks can also handle finance, zoning, planning and management duties. There are some communities where the City Clerk supervises department heads like Police Chiefs and Finance Directors, some cities where the City Clerk is also the Finance Director or Zoning Administrator, and others where the position is entirely clerical. Judy Hudson was making $30.96 per hour while Tami Loff is currently making $19.40 per hour. When Judy was promoted to the position of City Clerk over eight years ago, the City put her on a two year step system to gradually bring her to the previous Clerk's pay. Each step was contingent upon good performance and upon learning what was required for the position. In Tami's case I would also make it contingent upon her taking and passing the remaining week of training to become a Certified Municipal Clerk. This training is offered only one week per year so she will not be finished until July, 2009. I would recommend that the first step increase be effective beginning next pay period on March 23, 2009. I would recommend additional steps be granted on August 1, 2009, January 1, 2010, and August 1, 2010. All steps would be contingent on good performance and learning all of the job duties. The August 2009 step would be contingent upon passing Clerk's training. To equal the current salary, each step would be approximately $3.00 an hour. DEPUTY CLERK Comparing Deputy Clerk salaries is even more difficult than comparing City Clerk salaries because Deputy Clerk duties differ much more between communities. Tami Loff is making $19.40 per hour while Sandy Lindenfelser is currently making $17.72 per hour. I would recommend a similar two year step system to gradually bring Sandy to the previous person's pay. Each step would be contingent upon good performance and upon learning what was required for the position. I would recommend that the first step increase be effective beginning next pay period on March 23, 2009. I would recommend additional steps be granted on August 1, 2009, January 1, 2010, and August 1, 2010. All steps would be contingent on good performance and learning all of the job duties. To equal the current salary, each step would be approximately $0.42 an hour. 2 MEMO Date: August 21, 2006 To: Mayor & Council From: City Administrator Mike Robertson Re: Salary Comparisons with near by Cities I have listed below salary comparisons with near by cities. I have tried to select what seems to be the equivalent job to the one performed in Otsego. All information is taken from the League of Minnesota Cities salary survey and calls to the cities. Where multiple people hold the position the official pay range is given from low to high. CITY ADMINISTRATOR CITY CLERK OTSEGO $ 79,300 $54,600 ELK RIVER $102,800 $65,100 ALBERTVILLE $ 86,800 $40,800 ST. MICHAEL $ 95,600 $58,500 MONTICELLO $ 91,300 $54,500 DAYTON $ 85,000 $57,100 BIG LAKE $ 69,900-$87,300 $45,900 ROGERS $ 95,300 $73,000 BUFFALO $ 84,600 Remarks: Buffalo's Administrator is also the City Clerk. Big Lake is currently advertising their Administrator position right now. DEPUTY CLERK OTSEGO $40,200 ELK RIVER ALBERTVILLE ST. MICHAEL ACCOUNTING CLERK $41, 200 $46,700 $55, 900 MONTICELLO DAYTON BIG LAKE ROGERS BUFFALO $43,700 $41,700** $36,500 $65,800 $31,400-$40,900 $39, 900 $40,600 $40,500 $36,100-$48,100 Remarks: Buffalo's Deputy Clerk is also the Assistant City Administrator. City of Otsego Pavement and Trail Management Fund Analysis of Fund 201 Balance December 31, 2007 Add: 2008 interest allocation 2008 Budget Total Revenue Less: 2008 Expenditures Park Trail Pavement Sealcoating and Crackfilling Total Expenditures Projected Balance December 31, 2008 Add: 2009 Budget Subtotal Less: 2009 Expenditures Park Trail Pavement Sealcoating and Crackfilling Projected Balance December 31, 2009 Park Pavement Total Trail Management 120,193.00 25,000.00 95,193.00 5,411.43 5,411.43 325,000.00 25,000.00 300,000.00 330,411.43 25,000.00 305,411.43 45,574.07 45,574.07 137,581.09 137,581.09 183,155.16 45,574.07 137,581.09 267,449.27 4,425.93 263,023.34 430,384.00 25,000.00 405,384.00 697,833.27 29,425.93 668,407.34 300,000.00 300,000.00 29,425.93 29,425.93 368,407.34 - 368,407.34 City of Otsego Park Development Fund Summary of Activity For The Years Ended December 31, 2003 through 2008 2003 2004 2005 2006 2007 2008 Totals Revenue Park dedication fees $ 478,631 $ 2,140,540 $ 1,861,463 $ 166,302 $ 121,158 $ 8,216 $ 4,776,310 Interest income 9,510 20,911 76,766 100,060 63,181 45,416 315,844 Total Revenue 488,141 2,161,451 1,938,229 266,362 184,339 53,632 5,092,154 Expenditures Park development 1,284,192 517,067 1,344,118 1,771,656 287,803 93,979 5,298,815 Excess Revenue (Expenditures) (796,051) 1,644,384 594,111 (1,505,294) (103,464) (40,347) (206,661) Fund Balance, January 1 1,347,956 551,905 2,196,289 2,790,400 1,285,106 1,181,642 1,347,956 Fund Balance, December 31 $ 551,905 $ 2,196,289 $ 2,790,400 $ 1,285,106 $ 1,181,642 $ 1,141,295 $ 1,141,295 From 2003 thru 2007 the City completed work on the following park projects: Prairie Park, School Knoll Park, Lilly Pond Park, Beaudry Meadows Park, Kittredge Crossings Park and Zimmer Farms Park. In 2008 the park projects included Lilypond lighting and irrigation and the Ohland bike path park development 203.xls Page 1 City of Otsego Equipment Revolving Fund - Fund 206 Actual/Projected Fund Balance, January 1 Add: General Fund budget transfer Water and Sewer Fund contribution for Truck with Hoist Sale of assets Interest Income projected at 2.5% of beginning of year balance Balance and Additions Less: Public Works Vehicles & Equipment Actual Actual Actual Projected 2006 2007 2008 2009 2010 2011 $ 290,930 $ 350,887 $ 366,985 $ 405,991 $ 262,241 $ 213,797 169,182 154,000 180,000 190,000 200,000 210,000 4,000 9,022 15,002 15,212 10,150 6,556 5,345 469,134 523,889 562,197 606,141 468,797 $ 429,142 Tractor/roadside mower/broom 60,810 Roller 13,312 Tractor - JD4720 (replaced two others) 24,955 Landpdde mower 11,580 Overseeder 7,590 Safety equipment & misc. 7,025 Tools 15,191 Mobile Lifts 31,356 Mower (parks) 19,194 25,000 Lawn mower 2,620 2006 Ford F-450 Dump Truck 34,631 Sign shop equipment/softwaretconsulting setup 14,763 PW Building fumishings 32,124 2008 Sterling L8500 plus plow equipment 141,243 Crane/Box for 2002 Ford 14,963 Budgeted but not expended as of this date Vac & Jetter Truck (new vac jetter trucks are about $300,000) - monies will come from S & W, stormwater - Backhoe, net of expected trade in 65,000 Sprayer, Vacuum trailer, Aerator, and mowing trailer (for parks) 17,500 S/A Dump W/Plow S/A Dump W/Plow, net of trade 135,000 160,000 140,000 Toolcat (all-purpose vehicle) 55,000 Used boom truck ( finance from street lighting fees) 25,000 Air compressor & equipment 20,000 Hydraulic 18" mill (9,500), Walking irrigator (8,900), Harley rake (8,000) 26,400 Upgrade skidster loader Replace 2002 Ford 1 ton with plow 15,000 Recondition road grader or sweeper 35,000 Miscellaneous small equipment 175,000 20,000 40,000 Total Expenditures 118,247 156,904 156,206 343,900 255,000 355,000 Actual/Projected Fund Balance, December 31 $ 350,887 $ 366,985 $ 405,991 $ 262.241 $ 213,797 $ 74,142 Other Budgeted Funds -4- 2/17/2009 City of Otsego ,munity Facilities Special Revenue Fund No. 208 Actual/Projected Fund Balance, January 1 Add: Developer fees Interest Income projected at 2.5% of beginning of year balance Balance and Additions Less: Development projects Total Expenditures Actual/Projected Fund Balance, December 31 Actual Actual Actual Projected 2006 2007 2008 2009 2010 $ 817,511 $ 897,647 $ 961,718 $ 1,000,716 $ 1,025,734 47,158 19,567 1,644 32,978 44,504 37,354 25,018 25,643 897,647 961,718 1,000,716 1,025,734 1,051,377 $ 1,051,377 $ 897,647 $ 961,718 $ 1,000,716 $ 1,025,734 Other Budgeted Funds -4- 2/18/2009 City of Otsego 2008 Analysis of Fire Contracts Cash and Investment Balance, September 30, 2007 December Tax Settlement Estimate is Based on July, 2007 settlement Balance to be Paid on 2007 Contract Projected Cash and Investment Balance, December 31, 2007 2008 Per Parcel Rate 2008 Projected Revenue using New Rates Fund Balance, December 31, 2007 2008 Actual Revenue Tax Collections Interest Allocation Total Actual Revenue 2008 Fire Contract Expenditures Actual Fund Balance, December 31, 2008 Elk River Albertville Rogers Monticello $ 73,584 $ 155,790 $ 9,264 $ 11,794 80,866 84,060 9,131 12,282 - 14,110 - 5,534 $ 154,450 $ 225,740 $ 18,395 $ 18,542 $ 65.50 $ 85.50 $ 75.50 $ 75.50 $ 191,195 $ 195,710 $ 19,932 $ 32,843 $ 157,647 $ 223,012 $ 18,846 $ 20,027 191,037 187,291 19,006 27,695 3,834 9,441 179 649 194,871 196,732 19,185 28,344 153,510 101,619 19,970 22,134 $ 199,008 $ 318,125 $ 18,061 $ 26,237 City of Otsego Capital Projects Revolving %ccounts Collector Road Actual Fund Balance, December 31, 2007 2008 Revenue MSA construction reimbursements Oliver payments Interest Special assessments Total Revenue 2008 Expenditures 39/42 Curb and gutter 75th street and other Transfer for 2006 improvement bond (City share) Quantrelle water and sewer improvements 2008 debt service installment for the 1999 Street Improvement Bonds Total Expenditures Projected Fund Balance, December 31, 2008 Future planned expenditures of these monies 2009 debt service installment for the 1999 Street Improvement Bonds Portion of 2009 debt service payment for 2006 Improvement Bonds Total Future Planned Expenditures Council approved projects in 2008 to be completed in 2009 Remington Cove warranty work, net of escrow (estimate is $145,000 - $60,000) Cty Road 42 and 39 curb and gutter 2009 payment 75th MSA reimbursement (Reimb. $118,000-Expenditure of $84,000) Quantrell Water and Sewer (Assessments will be collected to repay this fund) - Estimated balance due Final for 70th Street net of Albertville reimbursement 1-94 Jan. 2009 payments ICadler Avenue Corridor Preservation -official mapping 1158,500) estimate 2009 Council Approved Projects Projected Balance, December 31, 2009 Account 403 $ 765,038 510,301 28,851 539,152 38,116 508,609 243,916 790,641 513,549 (100,000) (100,000) (2,006) 34,000 estimate (34,500) estimate (161,006) $ 252,543 Revolving Capital Improvement 414 $ 863,741 6,767 6,000 30,119 29,040 71,926 249,113 37,500 286,613 649,054 (34,154) (34,154) (85,000) estimate (70,000) estimate (5,524) (75,524) $ 539,376 2/17/2009 City of Ots Debt Service Req, --nts Public Works Water & Sewer Lease Bonds Bonds Bondlssue 1999 2003A 2004 2005B 2006B 2007E 2007A 2003B 2005A 2006A Totals Balance, January 1, 2008 $ 175,000 $ 2,880,000 $ 1,245,000 $ 2,820,000 $ 5,985,000 $ 680,000 $ 3,525,000 $ 9,715,000 $ 9,525,000 $ 8,680,000 $ 45,230,000 New Bonds Issued in 2008 - - - - - - Principal Payments in 2008 90,000 730,000 160,000 150,000 - 95,000 440,000 410,000 305,000 2,380,000 Balance, December31, 2008 $ 85,000 $ 2,150,000 $ 1,085,000 $ 2,670,000 $ 5,985,000 $ 680,000 $ 3,430,000 $ 9,275,000 $ 9,115,000 $ 8,375,000 $ 42,850,000 Future Principal and Interest Payments as Scheduled Year 2009 87,125 802,031 202,890 259,994 486,080 27,200 337,200 790,593 786,556 658,768 4,438,437 Year2010 717,381 202,940 254,369 486,080 117,200 424,200 793,080 786.856 661,168 4,443,274 Year 2011 189,556 202,415 248,744 485,680 113,600 232,400 798,980 785,544 662,968 3,719,887 Year 2012 189,381 206,290 257,744 479,880 115,000 237,800 799,280 783,669 659,168 3,728,212 Year 2013 188,966 204,630 261,144 483,880 116,200 237,800 809,130 785,069 659.968 3,746,787 Year 2014 193,088 207,600 254,144 487,280 112,200 477,600 812,700 785,669 660,168 3,990,449 Year2015 272,144 485,080 113,200 502,600 819,550 785,469 664,768 3,642,811 Year 2016 264,144 487.480 104,000 646,000 825,000 784,469 663,568 3,774,661 Year2017 256,144 484,280 648,000 834,000 782,669 661,767 3,666,860 Year 2018 262,894 490,680 624,000 838,800 785,069 669,368 3,670,811 Year 2019 263,756 491,280 842,400 786,469 670,968 3,054,873 Year2020 254,194 496,280 849,800 791,869 676,768 3,068,911 Year 2021 244,519 500,085 855,800 790,262 681,063 3,071,729 Year 2022 49,675 497,448 860,400 792,625 684,200 2,884,348 Year 2023 47,875 254,173 873,600 798.750 685,613 2,660,011 Year2024 51,075 255,358 797,512 685,963 1,789,908 Year 2025 49,050 256,113 690,250 995,413 Year2026 47,025 261,438 693,262 1,001,725 Year 2027 260,938 - 260,938 $ 87,125 $ 2,280,403 $ 1,226,765 $ 3,598,634 $ 8,129,513 $ 818.600 $ 4,367,600 $ 12,403,113 $12� $$ 12� $ 57,610,045 All Bonds outstanding are currently paid from revenue sources other than general property taxes with the exception of the Citys share of the 2004, 2003 and 1999 G. O. Improvement Bonds. Tax Collection Year 2008 2009 Actual 2010 Projected 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Totals City of Otsego Future Tax Levies by Year of Collection For Each Outstanding Bond Issue Miss. Shores/ (85th (1999 Quaday Waterfront Queens/ Public County Works Bldg Street) Overlay) Avenue East Road 42 Lease 2003A 2003C 2004 2005E 2006B 2007A $ 277,806 $ 140,961 138,049 _ 137,944 125,197 112,680 129,267 117,321 127,523 130,641 100,000 $ 924,761 $ - $ 612,628 $ 177,726 178,060 178,238 173,021 178,447 178,604 178,390 178,389 178,039 183,176 182,776 187,558 191,660 189,465 181,465 182,710 183,502 189,093 188,568 225,000 250,000 275,000 300,000 325,000 350,000 413,000 436,251 462,304 Total 277,806 318,687 Actual Budgeted Tax Levy $ 277,806 318,600 541,109 691,379 689,968 723,291 634,245 628,390 591,389 614,290 645,480 182,776 187,558 191,660 189,465 181,465 182,710 183,502 189,093 188,568 - $ 3,458,887 $3,036,555 $ 8,032,831 The 2008 and 2009 final installments will be financed from the Revolving Capital Improvements Fund #414. The 2009 tax levy amounts have been adjusted to reflect the actual contributions from other financing sources. Debt Service Section Summary 3/10/2009 City of Otsego Projection of Tax Levies, Tax Capacity and Tax Capacity Rates Projected Projected Projected Percent General Debt Tax Levy Tax Capacity Tax Capacity Tax Rate Increase Tax Collection Year Fund Service Total Valuation Rate (Decrease) (3.9% incr.) (3.0% incr.) 2008 $ 3,147,200 $ 277,806 $ 3,425,006 $ 12,924,315 26.500% 2009 Actual 2010 Projected 3,402,090 3,534,772 318,687 541,109 3,720,777 13,793,048 26.976% 1.79% 2011 3,672,628 691,379 4,075,881 4,364,007 14,206,839 14,633,045 28.690% 29.823% 6.35% 3.95% 2012 2013 3,815,860 689,968 4,505,828 15,072,036 29.895% 0.24% 2014 3,964,679 723,291 4,687,970 15,524,197 30.198% 1.01% 2015 4,119,301 634,245 4,753,546 15,989,923 29.728% -1.55% 2016 4,279,954 628,390 4,908,344 16,469,621 29.802% 0.25% 2017 4,446,872 591,389 5,038,261 16,963,709 29.700% -0.34% 2018 4,620,300 614,290 5,234,590 17,472,621 29.959% 0.87% 2019 4,800,492 645,480 5,445,972 17,996,799 30.261% 1.01% 2020 4,987,711 182,776 5,170,487 18,536,703 27.893% -7.82% 2021 5,182,232 187,558 5,369,790 19,092,804 28.125% 0.83% 2022 5,384,339 5,594,328 191,660 189,465 5,575,999 19,665,588 28.354% 0.82% 2023 5,812,507 181,465 5,783,793 5,993,972 20,255,556 20,863,223 28.554% 28.730% 0.71% 0.62% 2024 2025 6,039,194 182,710 6,221,904 21,489,119 28.954% 0.78% 2026 6,274,723 183,502 6,458,225 22,133,793 29.178% 0.77% 2027 6,519,437 189,093 6,708,530 22,797,807 29.426% 0.85% 6,773,695 188,568 6,962,263 23,481,741 29.650% 0.76% Debt Service Section Summary 3/10/2009