Loading...
6.3 Budgets, CIP & Tax Levy - 2023 Request for City Council Action DEPARTMENT INFORMATION ORIGINATING DEPARTMENT REQUESTOR: MEETING DATE: Administration City Administrator/Finance Director Flaherty December 12, 2022 PRESENTER(s) REVIEWED BY: ITEM #: Administration 6.3 – Truth in Taxation STRATEGIC VISION MEETS: THE CITY OF OTSEGO: X Is a strong organization that is committed to leading the community through innovative communication. Has proactively expanded infrastructure to responsibly provide core services. Is committed to delivery of quality emergency service responsive to community needs and expectations in a cost-effective manner. Is a social community with diverse housing, service options, and employment opportunities. Is a distinctive, connected community known for its beauty and natural surroundings. AGENDA ITEM DETAILS RECOMMENDATION: It is recommended by staff that the City Council approve the attached resolutions: 1) Adopting the 2023 Annual Operating Budgets 2) Setting a Final Property Tax Levy for Taxes Payable 2023 3) Adopting the 2023-2032 Capital Improvement Plan ARE YOU SEEKING APPROVAL OF A CONTRACT? IS A PUBLIC HEARING REQUIRED? No Yes – Held on December 12, 2022 BACKGROUND/JUSTIFICATION: The City Council and staff began the budgeting process back in May, and have met in ten special city council meetings, which are work session settings in preparation and review of the operating budgets, property tax levy, and capital improvement plan. The proposed General fund budget is a balanced budget, with expenditures totaling $7,976,649. When compared with 2022, this is an increase of 8.56%. These expenditures are funded with property taxes being the primary source of revenue, which accounts for 67.13% of all revenues. The Public Utility budgets include the Water, Sanitary Sewer, and Storm Water funds. The primary sources of revenues for these funds are from charges for services to customers of the public utilities. The expenses are comprehensive, and include operating expenses, depreciation, capital outlay, debt service and interfund transfers. The utility funds have cash flow projections which are monitored and updated multiple times per year. The rates for the charges for services to customers have been analyzed, and current recommendations for increases have been included in the budgets. The respective rates will be analyzed further when the end of the year financial information is available. Staff will make a final recommendation to the Council for the 2023 rates sometime in February, with any rate changes becoming effective with the March billing. The Debt Service Funds budget includes revenues and expenditures for each of the City’s two outstanding general obligation bond issues, not including public utility fund bond issues. The primary sources of revenues include property taxes and special assessments. These revenues along with fund balance will repay the principal and interest on the respective bond issues. The Special Revenue Funds budget includes activity for the City’s three Tax Increment Districts Funds. The expenditures within these funds are for TIF pay-as-you go note agreements. These expenditures are funded through tax increment collections. The proposed property tax levy accounts for General fund revenues, Capital fund reserves, Debt Service repayments and Tax Abatements. The total proposed levy is $9,330,023. The most recent information available from Wright County shows the City’s net tax capacity increased to a total of $31,737,524 (27.70% from 2022). All of this calculates to an estimated City tax rate of 29.397, which is down (14.90%) from the prior year rate of 34.545. In the end, this means that any increase in the City’s portion of property taxes is driven by those respective properties increase in market value. The proposed Capital Improvement Plan (CIP) covers the years of 2023-2032. A summary of the CIP is included and is organized by funding source. Inclusion of an item within the CIP does not commit final approval by the City Council, rather it directs staff to plan towards and gather necessary information for an educated final approval on each respective item. Each individual item is planned, researched, and brought back to City Council for final approval when the respective item is ready to move forward. SUPPORTING DOCUMENTS ATTACHED: • Resolution 2022-98: Adopting the 2023 Annual Operating Budgets o Budget Summaries: General, Public Utility, Debt Service & Special Revenue Funds • Resolution 2022-99: Setting a Final Property Tax Levy for Taxes Payable 2023 o Tax Levy Calculations • Resolution 2022-100: Adopting the 2023-2032 Capital Improvement Plan o Summary of Projects by Funding Source POSSIBLE MOTION PLEASE WORD MOTION AS YOU WOULD LIKE IT TO APPEAR IN THE MINUTES: Motion to adopt Resolution 2022-98 Adopting the 2023 Annual Operating Budgets; to adopt Resolution 2022-99 Setting the Final Property Tax Levy for Taxes Payable 2023; and to adopt Resolution 2022-100 Adopting the 2023-2032 Capital Improvement Plan BUDGET INFORMATION FUNDING: BUDGETED: N/A N/A 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2022-98 ADOPTING THE 2023 ANNUAL OPERATING BUDGETS WHEREAS, the Otsego City Council has on December 12, 2022, held a public meeting to allow for public comment before adopting a final budget and certifying a final property tax levy; and WHEREAS, the Otsego City Council has reviewed the proposed General, Public Utility, Debt Service and Special Revenue fund budgets and has determined the budget is adequate to fund the respective fund operations for the year 2023. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of the General fund for 2023 as follows: Revenues Property Taxes $5,354,550 Cable Franchise Fees 133,000 Licenses and Permits 1,695,523 Intergovernmental 92,300 Charges for Services 268,776 Miscellaneous 432,500 Total Revenues $7,976,649 Expenditures General Government $1,783,425 Public Safety 3,406,292 Public Works 1,737,827 Parks and Recreation 935,745 Economic Development 113,360 Total Expenditures $7,976,649 2 2. That the following revenues and expenses (summarized) be authorized as the final budget for the operation of the Public Utility funds for 2023 as follows: Revenues Operating $6,092,230 Non-Operating 315,433 Availability & Connection Charges 3,855,100 Special Assessments 433,411 Bond Proceeds 10,245,000 Total Revenues $20,941,174 Expenses Operating $3,084,898 Capital Outlay 28,312,777 Depreciation 3,629,859 Debt Service 4,738,949 Transfers to Other Funds 469,657 Total Expenses $40,236,140 3. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of the Debt Service funds for 2023 as follows: Revenues Property Taxes $544,416 Special Assessments 186,238 Total Revenues $730,654 Expenditures Principal $685,000 Interest and Fiscal Agent Fee’s 120,406 Total Expenditures $805,406 4. That the following revenues and expenditures (summarized) be authorized as the final budget for the operation of the Special Revenue funds for 2023 as follows: Revenues Tax Increments $489,198 Total Revenues $489,198 Expenditures Economic Development $459,226 Total Expenditures $459,226 3 ADOPTED by the Otsego City Council this 12th day of December, 2022. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk City of OtsegoGeneral Fund Budget ‐ 2023Requested BudgetRevenue & Expenditure SummaryRequested Preliminary FinalActual Actual Year‐to‐Date Budget Budget Budget Budget2020 2021 2022 2022 2023 2023 2023 $ Change % ChangeRevenuesTaxes 4,497,724$         4,592,524$        2,797,396$        5,000,506$        5,261,395$         5,299,223$        5,354,550$        298,717$           7.08%Cable Franchise Fees 132,137             129,467            133,218            129,000            131,000             131,000            133,000            2,000                 3.10%Licenses & Permits 2,532,789           2,529,588         2,064,702         1,510,639         1,695,623           1,695,623         1,695,523         184,984            12.24%Intergovernmental 1,396,214           88,037              1,090,445         87,500              85,300               85,300              92,300              (2,200)               5.49%Charges for Services 255,598             424,487            433,116            238,871            270,321             270,321            268,776            31,450              12.52%Special Assessments 5,434                  5,732                 1,235                 3,400                 3,400                  3,400                 4,400                 ‐                         29.41%Fines & Forfeitures 19,959               27,461              27,658              24,000              24,000               24,000              24,000              ‐                         0.00%Investment Interest 170,477             (46,484)             (2,613,048)        60,000              61,000               61,000              76,000              1,000                 26.67%Miscellaneous 23,984               18,651              12,756              ‐                          7,500                  7,500                 7,500                 7,500                 #DIV/0!Interfund Transfers 201,796             243,100            293,500            293,500            332,400             332,400            320,600            38,900              9.23%Subtotal9,236,110           8,012,563         4,240,978         7,347,416         7,871,939           7,909,767         7,976,649         562,351            8.56%ExpendituresGeneral Government 1,419,636           1,358,501         1,427,672         1,763,193         1,813,494           1,793,494         1,783,425         30,301              1.15%Public Safety 2,667,435           2,879,409         2,726,894         3,015,037         3,230,910           3,292,738         3,406,292         277,701            12.98%Public Works 1,204,666           1,287,787         1,423,092         1,551,450         1,747,465           1,747,465         1,737,827         196,015            12.01%Culture & Recreation 697,455             778,621            821,542            855,826            965,210             962,710            935,745            106,884            9.34%Economic Development 665,798             91,248              80,491              161,910            114,860             113,360            113,360            (48,550)             ‐29.99%Interfund Transfers 932,244             2,434,846         ‐                         ‐                          ‐                          ‐                         ‐                         ‐                         #DIV/0!Subtotal7,587,233           8,830,410         6,479,691         7,347,416         7,871,939           7,909,767         7,976,649         562,351            8.56%Net Change in Fund Balance1,648,877$         (817,848)$          (2,238,712)$      ‐$                         (0)$                      0$                       (0)$                     Description City of Otsego Public Utility Fund Budget ‐ 2023 Revenue & Expenditure Summary Requested Actual Actual Year‐to‐Date Budget Budget 2020 2021 2022 2022 2023 Utility Revenues Operating 4,313,040$        5,763,574$        5,939,767$        5,083,097$         6,092,230$        Non‐Operating 3,442,648         5,028,342         341,182              264,933              315,433             Availability + Connection Charges 6,363,246         6,347,113         5,875,784         3,274,509           3,855,100         Special Assessments 1,064,931         33,065               128,126              256,251              433,411             Bond Proceeds (0)                        (1)                        650,646              15,500,000         10,245,000       Subtotal 15,183,864       17,172,094       12,935,505       24,378,790         20,941,174       Expenditures Personal Services 566,816             676,750             681,182              777,497              879,286             Supplies 425,475             841,756             874,703              840,362              944,190             Services & Other Charges 2,192,069         3,458,894         1,324,249         1,101,365           1,261,422         Capital Outlay (1,091,397)        (2,055,739)        3,825,564         19,590,375         28,312,777       Depreciation 1,750,387         1,906,361         ‐                           2,873,134           3,629,859         Debt Service 478,668             767,701             3,988,839         3,823,167           4,738,949         Interfund Transfers 396,320             384,100             293,500              293,500              469,657             Subtotal 4,718,337         5,979,823         10,988,036       29,299,400         40,236,140       Excess (Deficiency) of Revenues Over (Under) Expenditures 10,465,528$      11,192,270$      1,947,469$        (4,920,610)$        (19,294,966)$    Description City of Otsego Debt Service Fund Budget ‐ 2023 Revenue & Expenditure Summary Requested Actual Actual Year‐to‐Date Budget Budget 2020 2021 2022 2022 2023 Revenues Taxes 286,758$           289,551$           273,594$            547,187$           544,416$           Special Assessments 328,570             797,337             142,722              240,960              186,238             Investment Interest (net) ‐                          ‐                          ‐                           ‐                           ‐                          Bond Proceeds 3,262,200         ‐                          ‐                           ‐                           ‐                          Subtotal 3,877,528         1,086,888         416,315              788,147              730,654             Expenditures Principal 3,825,000         685,000             660,000              660,000              685,000             Interest 186,690             134,762             144,431              144,431              119,406             Fiscal Agent Fee's 64,172               787                    990                     1,500                  1,000                 Subtotal 4,075,862         820,549             805,421              805,931              805,406             Excess (Deficiency) of Revenues Over (Under) Expenditures (198,335)$          266,340$           (389,106)$           (17,784)$            (74,752)$            Description City of Otsego Special Revenue Fund Budget ‐ 2023 Revenue & Expenditure Summary Requested Actual Actual Year‐to‐Date Budget Budget 2020 2021 2022 2022 2023 Revenues Property Taxes ‐$                         ‐$                         ‐$                          ‐$                         ‐$                         Tax Increments 275,445             311,970             279,767              421,996              489,198             Investment Earnings ‐                          ‐                          ‐                           ‐                           ‐                          Subtotal 275,445             311,970             279,767              421,996              489,198             Expenditures Personal Services 1,875                 2,599                 ‐                           1,500                  1,500                 Services & Other Charges 2,950                 2,535                 4,074                  7,500                  7,500                 Development Incentives 163,565             261,155             400,514              387,365              450,226             Transfer Out ‐                          ‐                          ‐                           ‐                           ‐                          Subtotal 168,389             266,289             404,587              396,365              459,226             Excess (Deficiency) of Revenues Over (Under) Expenditures 107,055$           45,682$              (124,821)$           25,631$              29,972$              Description 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2022-99 SETTING A FINAL PROPERTY TAX LEVY FOR TAXES PAYABLE IN 2023 WHEREAS, the Otsego City Council has on December 12, 2022, held a public meeting to allow for public comment before adopting a final budget and certifying a final property tax levy; and WHEREAS, the Otsego City Council is required by State Statute to establish a final property tax levy for taxes payable in 2023 and certify the final property tax levy to the Wright County Auditor; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. That a tax is hereby levied for collection in 2023 upon all taxable properties in the City of Otsego for the purpose and sums as follows: General Revenue $8,710,939 Tax Abatement 74,668 GO Improvement Bonds, 2018A 94,416 GO Improvement Bonds, 2020A 450,000 Total Tax Levy $9,330,023 ADOPTED by the Otsego City Council this 12th day of December, 2022. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: ________________________________ Audra Etzel, City Clerk City of Otsego Property Tax Levy Calculations Payable 2023 Revised: December 6, 2022 $% $% 2021 2022 2023 Change Change 2023 Change Change General Revenues 4,671,000        5,009,000        5,309,000      300,000          5.99% 5,366,000        357,000          7.13% Tax Abatements 45,874              40,228              87,744            47,516            118.12% 74,668              34,440            85.61% Debt Service Series 2010B 460,000            ‐                        ‐                       ‐                       ‐                         ‐                       Series 2018A 94,551              97,187              94,416            (2,771)             94,416              (2,771)             Series 2020A 195,000            450,000            450,000          ‐                       450,000            ‐                       **NEW** ‐                         ‐                        ‐                       ‐                       ‐                         ‐                       Sub‐total 749,551            547,187            544,416          (2,771)             ‐0.51% 544,416            (2,771)             ‐0.51% Capital Reserves Pavement Management 1,050,000        1,100,000        1,100,000      ‐                       1,100,000        ‐                       Trails Management 40,000              63,000              65,000            2,000              65,000              2,000              Parks Equipment 62,000              64,000              70,000            6,000              70,000              6,000              Capital Equipment Revolving 300,000            320,000            480,346          160,346          477,325            157,325          Fire Reserve 190,000            200,000            210,000          10,000            210,000            10,000            Storm Water 34,000              36,000              38,000            2,000              38,000              2,000              Capital Improvements 661,000            1,175,590        1,390,517      214,927          1,349,614        174,024          City Buildings & Property 25,000              30,000              35,000            5,000              35,000              5,000              Sub‐total 2,362,000        2,988,590        3,388,863      400,273          13.39% 3,344,939        356,349          11.92% Tax Rate Management (Flexibility) ‐                       ‐                         Grand Total 7,828,425        8,585,005        9,330,023      745,018          8.68% 9,330,023        745,018          8.68% Growth (%) 8.82% 9.66% Tax Capacity 22,876,221      25,254,743      31,574,313    32,097,190      Growth (%) 10.29% 10.40% 25.02% 27.09% Net Tax Capacity 22,591,258      24,852,871      31,071,879    31,737,524      Growth (%) 10.22% 10.01% 25.02% 27.70% Tax Rate 34.653              34.545              30.027            29.397              Population 18,130              19,966              21,289            21,289              Tax Levy Per Capita 432                   430                   438                 438                   Taxing 2021 2022 2023 2023 Authority Final Tax Rate Final Tax Rate Estimate Change TNT Tax Rate Change City of Otsego 34.653              34.545              30.027            ‐13.08% 29.397              ‐14.90% Wright County 43.719              43.751              37.700            ‐13.83% 37.778              ‐13.65% School District 31.717              30.889              30.889            0.00% 26.483              ‐14.26% School District ‐ RMV 30.598              28.698              28.698            0.00% 23.956              ‐16.52% Description 2021 2022 2023 Change 2023 Change Median Appraised Value 258,455            290,081            328,710          13.32% 328,710            13.32% Less: MV Exclusion (13,979)            (11,133)            (7,656)             (7,656)               Taxable Market Value 244,476            278,948            321,054          15.09% 321,054            15.09% Tax Capacity 2,445                2,789                3,211              3,211                2021 2022 2023 2023 Taxing Estimated Estimated Estimated Estimated Authority Tax Tax Tax Change Tax Change City of Otsego 847                   964                   964                 0.00% 944                   ‐2.07% Wright County 1,069                1,220                1,210              ‐0.82% 1,213                ‐0.57% School District 775                   862                   992                 15.08% 850                   ‐1.39% School District ‐ RMV 791                   832                   943                 13.34% 787                   ‐5.41% Total 3,482                3,878                4,109              5.96% 3,794                ‐2.17% Annual Increase 231                 (84)                    Levy Description Preliminary Tax Levy (9‐26‐2022) Final Tax Levy (12‐12‐2022) Y:\Budget\2023\Property Taxes\Tax Levy Calculations (2023)12‐12 1 CITY OF OTSEGO COUNTY OF WRIGHT STATE OF MINNESOTA RESOLUTION NO: 2022-100 ADOPTING THE 2023-2032 CAPITAL IMPROVEMENT PLAN WHEREAS, the Otsego City Council has determined it is fiscally responsible and necessary to develop a capital improvement plan that identifies items that may require significant capital investment; and WHEREAS, the Otsego City Council has reviewed the details and estimated cost of each item included within the capital improvement plan; and WHEREAS, the Otsego City Council has identified probable funding sources for each item included within the capital improvement plan; and WHEREAS, the inclusion of an item within the capital improvement plan does not commit final approval for each respective item, rather each item will be presented to the Otsego City Council with final expenditure amounts and a detailed funding plan to gain final approval. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF OTSEGO, MINNESOTA: 1. That the 2023-2032 Capital Improvement Plan, as set forth in summary, attached as Exhibit A to this Resolution is adopted. ADOPTED by the Otsego City Council this 12th day of December, 2022. MOTION BY: SECONDED BY: IN FAVOR: OPPOSED: CITY OF OTSEGO __________________________________ Jessica L. Stockamp, Mayor ATTEST: __________________________________ Audra Etzel, City Clerk Capital Improvement PlanCity of Otsego, MinnesotaPROJECTS BY FUNDING SOURCE2023 2032thruTotal2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #201 - Pavement Management1,084,1511,084,151Street Maintenance - 2023STREET-23-011,186,8871,186,887Street Renewals - 2023STREET-23-029,582,215721,922 1,127,148 811,629 1,333,762 788,695 923,236 1,070,057 1,124,3841,681,382Street Maintenance - 2024 to 2032STREET-24-029,660,2401,925,890 3,180,709 2,615,648 1,937,993Street Renewals - 2024 to 2032STREET-24-03201 - Pavement Management Total21,513,4932,271,038 721,922 3,053,038 811,629 4,514,471 788,695 3,538,884 1,070,057 3,062,377 1,681,382202 - 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 73,000 204,000203 - 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 Total2,762,0001,935,000 617,000 110,000100,000 Total2023 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 Total1,621,270640,000 240,000 102,000 216,120 423,150206 - Capital Equipment Revolving29,05829,058Compact SUVFLEET-23-0142,23542,2351/2 Ton Extended Cab PickupFLEET-23-02272,563272,563Street SweeperFLEET-23-0358,00058,0003/4 Ton Extended Cab PickupFLEET-23-0442,23542,2351/2 Ton Extended Cab PickupFLEET-23-0531,50031,500Utility VehicleFLEET-23-0627,50027,500Zero Turn MowerFLEET-23-076,415,899761,466 972,867 1,010,237 634,723736,216 474,965 286,191 935,888603,3462024-2032 Future Fleet PurchasesFLEET-24-32206 - Capital Equipment Revolving Total6,918,990503,091 761,466 972,867 1,010,237 634,723736,216 474,965 286,191 935,888 603,346408 - Otsego Creek Watershed481,331481,331Otsego Creek Restoration ProjectSTORM-23-01408 - Otsego Creek Watershed Total481,331481,331414 - Capital Improvements50,00050,000City Entrance SignageBLDG-2023-0251,63151,631CSAH 38 & CSAH 19 - Local ShareCSAH-2020-0458,51958,519CSAH 37 - Local ShareCSAH-2022-011,000,0001,000,000CR 137 - Local ShareCSAH-2024-01350,000350,000CSAH 19 & CSAH 39 IntersectionCSAH-2024-0260,00060,000TH 101 - Left Turn SignalsPW-2022-01 Total2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #50,00050,000CSAH 38 - Turn Lanes - Martin Farms Ave.PW-2023-0138,00038,000Signal Light PaintingPW-2026-0140,00040,000Signal Light PaintingPW-2028-01414 - Capital Improvements Total1,698,150270,150 1,350,000 38,000 40,000439 - Building & Property Maintenan78,03578,035City Hall - HVAC Control SystemBLDG-2023-0345,00045,000City Hall - Carpet ReplacementBLDG-2024-0110,00010,000City Hall - PaintingBLDG-2024-0210,00010,000Prairie Center - SkylightBLDG-2025-0120,00020,000Prairie Center DoorsBLDG-2026-0240,00020,000 20,000Prairie Center WindowsBLDG-2027-0120,00020,000Prairie Center - Carpet ReplacementBLDG-2030-0250,00050,000Salt Shed Cover ReplacementBLDG-2031-0119,50019,500Prairie Center - Vinyl Floor ReplacementBLDG-2032-0160,00060,000Server System ReplacementIT-2025-0120,00020,000Security Camera SystemsIT-2027-0130,00030,000Automated Entry & Security SystemsIT-2027-02150,000150,000Audio/Visual Systems - Council ChambersIT-2029-0170,00070,000Server System ReplacementIT-2030-019 - Building & Property Maintenance Total622,53578,035 55,000 70,000 20,000 70,000 20,000 150,000 90,000 50,000 19,500601 - Water Utility40,18840,188CSAH 38 & CSAH 19 - Local ShareCSAH-2020-0414,50014,5003/4 Ton Extended Cab PickupFLEET-23-0820,00020,0001 Ton Utility Body TruckFLEET-23-0969,00069,000Portable Generator TrailerFLEET-23-101,093,4551,093,455Well #10 - New Municipal WellWATER-23-013,504,1343,504,134East & West Connection - Phase 1WATER-23-0240,00040,000Well #5 ImprovementsWATER-23-0392,00092,000Well #6 ImprovementsWATER-23-04125,000125,000Central Wellfield - Project Phasing & LocatingWATER-23-051,500,000150,000 950,000 400,000Well #11 - New Municipal WellWATER-24-011,074,000142,000 177,000 160,000 170,000 120,000 30,000 80,000 80,000115,000Annual Well & Equipment Inspection and ReconditionWATER-24-32 Total2023 2024 2025 2026 2027Source2028 2029 2030 2031 2032 #4,250,00070,000 500,000 3,200,000 480,000Water Treatment - Well House #4WATER-25-014,250,00070,000 500,000 3,200,000 480,000Water Treatment - Well House #3WATER-26-015,380,000380,000 500,000 4,000,000 500,000Central Wellfield - Well Drilling & PipingWATER-26-022,500,000400,000 2,000,000 100,000East & West Connection - Phase 2WATER-27-0121,100,000100,000 1,000,000 15,000,000 5,000,000Central Wellfield - Building ConstructionWATER-27-021,777,00027,000 1,750,000Water Tower #3 ReconditioningWATER-28-01601 - Water Utility Total46,829,2775,218,277 2,042,000 4,877,000 9,240,000 18,177,000 6,970,000 30,000 80,000 80,000 115,000602 - Sanitary Sewer Utility43,50043,5003/4 Ton Extended Cab PickupFLEET-23-0860,00060,0001 Ton Utility Body TruckFLEET-23-0969,00069,000Portable Generator TrailerFLEET-23-1031,200,00022,000,000 9,000,000 200,000West WWTF Liquids Capacity ExpansionSEWER-23-0160,00060,000Lift Station #3 ImprovementsSEWER-23-021,983,00075,000 75,000 475,000 123,000 135,000 115,000 750,000 100,000135,000Lift Station Equipment & ReconditioningSEWER-24-321,900,000500,000 200,000 1,200,000West WWTF - Access RoadSEWER-26-011,900,000200,000 1,700,000Lift Station - New Municipal Sanitary Lift StationSEWER-27-015,450,000200,000 1,000,000 4,000,000 250,000East WWTF - EL1 ExpansionSEWER-30-012,800,000200,0002,600,000New Lift StationSEWER-32-01602 - Sanitary Sewer Utility Total45,465,50022,732,500 9,075,000 475,000 1,875,000 1,823,000 335,000 1,115,000 4,750,000 550,000 2,735,000Issuance of Bonds29,897,2501,270,875 28,626,375City Campus - Phase 1BLDG-2023-017,600,000427,500 7,172,500City Campus - Phase 2BLDG-2030-01Issuance of Bonds Total37,497,2501,270,875 28,626,375427,500 7,172,50035,535,297 43,314,763 9,864,905 13,162,866 25,288,194166,519,796GRAND TOTAL8,959,911 5,596,849 6,775,748 12,239,885 5,781,378