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Item 1 (3) Parks CIP Packet
Capital Improvement PlanCity of Otsego, MinnesotaPROJECTS BY FUNDING SOURCE2023 2032thruTotal2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #202 - Trail Management65,00065,000Trail MaintenanceTRAILS-23-0170,00070,000Trail Renewal - Carrick's LandingTRAILS-23-02630,00066,000 67,000 68,000 69,000 70,000 71,000 72,000 73,00074,000Trail MaintenanceTRAILS-24-32345,000100,000 115,000130,000Trail RenewalTRAILS-26-32202 - Trail Management Total1,110,000135,000 66,000 67,000 168,00069,000 70,000 186,000 72,000 73,000 204,000135,000 66,000 67,000 168,000 69,0001,110,000GRAND TOTAL70,000 186,000 72,000 73,000 204,000Parks & Trails CIP Packet - 1 City of OtsegoTrail Management FundCash Flow SummaryRevised: November 3, 2022 3.17% 7.69% 7.14% 6.67% 6.25% 5.88% 5.56% 5.26%5.00%4.76%Forecast20222023202420252026202720282029203020312032CommentsRevenuesProperty Taxes63,000$ 65,000$ 70,000$ 75,000$ 80,000$ 85,000$ 90,000$ 95,000$ 100,000$ 105,000$ 110,000$ Investment Interest‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Total63,000 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 105,000 110,000 ExpensesCapital Outlay62,303 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Capital Outlay (CIP‐Maintenance)‐ 65,000 66,000 67,000 68,000 69,000 70,000 71,000 72,000 73,000 74,000 2023‐2032 CIPCapital Outlay (CIP‐Renewal)‐ 70,000 ‐ ‐ 100,000 ‐ ‐ 115,000 ‐ ‐ 130,000 2023‐2032 CIPTotal62,303 135,000 66,000 67,000 168,000 69,000 70,000 186,000 72,000 73,000 204,000 Cash Balance ‐ Beginning303,125 303,822 233,822 237,822 245,822 157,822 173,822 193,822 102,822 130,822 162,822 Balance Sheet EffectsRevenues63,000 65,000 70,000 75,000 80,000 85,000 90,000 95,000 100,000 105,000 110,000 Expenditures(62,303) (135,000) (66,000) (67,000) (168,000) (69,000) (70,000) (186,000) (72,000) (73,000) (204,000) Cash Balance ‐ Ending303,822$ 233,822$ 237,822$ 245,822$ 157,822$ 173,822$ 193,822$ 102,822$ 130,822$ 162,822$ 68,822$ Cash Balance ‐ % of Next Year Capital225%354%355%146%229%248%104%143%179%80%Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds202-Trail ManagementParks & Trails CIP Packet - 2 Capital Improvement PlanCity of Otsego, MinnesotaPROJECTS BY FUNDING SOURCE2023 2032thruTotal2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #203 - Park Development170,00070,000 50,000 50,000Wayfinding SignagePARK-2022-03775,000475,000 300,000Carricks Landing River Access ImprovementsPARK-2023-02432,000432,000Athletic Field Improvements - Prairie ParkPARK-2023-03920,000920,000Land AcquisitionPARK-2023-0628,00028,000Prairie Park Master PlanPARK-2023-07260,00010,000 250,000Ashwood Neighborhood ParkPARK-2024-0117,00017,000Riverpointe - Natural Park AreaPARK-2024-0260,00060,000Feasibility Study for Community CenterPARK-2025-01100,000100,000Pickleball Courts LightingPARK-2031-01203 - Park Development Total2,762,0001,935,000 617,000 110,000100,0001,935,000 617,000 110,0002,762,000GRAND TOTAL100,000Parks & Trails CIP Packet - 3 City of OtsegoPark Development FundCash Flow SummaryRevised: November 3, 2022Forecast2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 CommentsRevenuesPark Dedication Fees 882,708$ 288,000$ 290,880$ 293,789$ 296,727$ 299,694$ 302,691$ 305,718$ 308,775$ 311,863$ 314,981$ 100 New Plats + Annual Inflation 1%Intergovernmental 8,305 18,380 300,000 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ SHIP Grant (22‐23) / DNR Grant (24)Special Assessments (Levied) 2,410 2,410 2,410 2,410 2,410 2,410 ‐ ‐ ‐ ‐ ‐ Investment Interest ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Miscellaneous ‐ ‐ 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Youth Baseball ‐ Field ContributionTotal 893,423 308,790 603,290 306,199 309,137 312,104 312,691 315,718 318,775 321,863 324,981 ExpensesEngineering 6,410 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Other Charges & Services 50,280 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Capital Outlay6,130 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Capital Outlay (CIP)‐ 1,935,000 617,000 110,000 ‐ ‐ ‐ ‐ ‐ 100,000 ‐ 2023‐2032 CIPTotal62,820 1,935,000 617,000 110,000 ‐ ‐ ‐ ‐ ‐ 100,000 ‐ Cash Balance ‐ Beginning5,104,520 5,935,123 4,308,913 4,295,203 4,491,402 4,800,538 5,112,642 5,425,333 5,741,051 6,059,826 6,281,689 Balance Sheet EffectsRevenues893,423 308,790 603,290 306,199 309,137 312,104 312,691 315,718 318,775 321,863 324,981 Expenditures(62,820) (1,935,000) (617,000) (110,000) ‐ ‐ ‐ ‐ ‐ (100,000) ‐ Cash Balance ‐ Ending5,935,123$ 4,308,913$ 4,295,203$ 4,491,402$ 4,800,538$ 5,112,642$ 5,425,333$ 5,741,051$ 6,059,826$ 6,281,689$ 6,606,670$ MN Statute 462.358, Subd 2BProjection ‐ Capital Improvement Plan(g) Cash payments received must be used only for the acquisition and development or improvement of parks, recreational facilities, playgrounds, trails, wetlands, or open space based on the approved park systems plan. Cash payments must not be used for ongoing operation or maintenance of parks, recreational facilities, Y:\Budget\2023\Cash Flows\Capital Funds203-Park DevelopmentParks & Trails CIP Packet - 4 Capital Improvement PlanCity of Otsego, MinnesotaPROJECTS BY FUNDING SOURCE2023 2032thruTotal2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #205 - Park Capital Equipment400,000400,000Park Improvements - School Knoll ParkPARK-2023-01190,000190,000Soccer Field Lighting - Lehrke ComplexPARK-2023-0450,00050,000Kittredge Park - Shelter RepairsPARK-2023-05240,000240,000Playground Improvements - Prairie ParkPARK-2025-02102,000102,000Playground Improvements - Lily PondPARK-2029-01108,000108,000Playground Improvements - KittredgePARK-2031-02108,120108,120Playground Improvements - LefebvrePARK-2031-03423,150423,150Playground Replacement - Future (2036-2042)PARK-2031-04205 - Park Capital Equipment Total1,621,270640,000 240,000 102,000 216,120 423,150640,000240,0001,621,270GRAND TOTAL102,000216,120 423,150Parks & Trails CIP Packet - 5 City of OtsegoPark Equipment FundCash Flow SummaryRevised: November 3, 2022 3.23% 9.38% 7.14% 6.67% 6.25% 5.88% 5.56% 5.26%5.00%4.76%4.55%Forecast20222023202420252026202720282029203020312032CommentsRevenuesProperty Taxes64,000$ 70,000$ 75,000$ 80,000$ 85,000$ 90,000$ 95,000$ 100,000$ 105,000$ 110,000$ 115,000$ Contributions ‐ Soccer‐ ‐ 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 Boreal Soccer ‐ Lighting ContributionInvestment Interest‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Miscellaneous13,329 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Total77,329 70,000 85,000 90,000 95,000 100,000 105,000 110,000 115,000 120,000 125,000 ExpensesOther Charges & Services19,138 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Capital Outlay (CIP)‐ 640,000 ‐ 240,000 ‐ ‐ ‐ 102,000 ‐ 216,120 423,150 2023‐2032 CIPTransfers Out82,349 ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ ‐ Total101,487 640,000 ‐ 240,000 ‐ ‐ ‐ 102,000 ‐ 216,120 423,150 Cash Balance ‐ Beginning718,114 693,956 123,956 208,956 58,956 153,956 253,956 358,956 366,956 481,956 385,836 Balance Sheet EffectsRevenues77,329 70,000 85,000 90,000 95,000 100,000 105,000 110,000 115,000 120,000 125,000 Expenditures(101,487) (640,000) ‐ (240,000) ‐ ‐ ‐ (102,000) ‐ (216,120) (423,150) Cash Balance ‐ Ending693,956$ 123,956$ 208,956$ 58,956$ 153,956$ 253,956$ 358,956$ 366,956$ 481,956$ 385,836$ 87,686$ Projection ‐ Capital Improvement PlanY:\Budget\2023\Cash Flows\Capital Funds205-Park EquipmentParks & Trails CIP Packet - 6