08-08-11 WSGeneral Fund
Pubic Works Capital Equipment
Pavement Management
Trail Management
Park Capital Equipment
Subtotal Levy Limit Levy
2003 Imp. Bond
2006 Imp. Bond
2007 Public Works Bond
Subtotal Debt Levy
Total Levy
Fire Levy/Assessment
Reduce by MVHC
Total Levy/Assessment Funds
General Fund Change
8/8/2011
2012 Tax Levy Summary
2012
2011
Variance
$ 2,781,900
$ 2,780,000
$ 1,900
150,000
160,000
(10,000)
300,000
420,000
(120,000)
25,000
42,000
(17,000)
50,000
98,000
(48,000)
3,306,900
3,500,000
(193,100)
-
138,000
(138,000) 1
275,000
178,000
97,000 Jr
150,000
150,000
-
425,000
466,000
(41, 000)
3,731,900
3,966,000
(234,100)
480,000
480,000
-
-
(237,000)
237,000
4,211,900
4,209,000
2,900
$ 2,781,900
$ 2,543,000
238,900
(41,000)
City of Otsego
Comparison of Property Tax Bills
With Fire Service Assessed and Included in Property Tax Levy
Tax
Tax Capacity
Levies Value
2011 Tax Levy $ 3,966,000
2011 Tax Levy Including Fire $ 4,212,000
With With
$75.50 Fire Fire In
Assessment Tax Levy
Example A
Taxable Market Value $ 255,100 $ 255,101
Conversion is 1% $ 2,551 $ 2,551
Property Tax Levy $ 867.61 $ 921.43
Add Fire Special Assessment $ 75.50 $ -
Total City Tax Bill $ 943.11 $ 921.43
Example B
Taxable Market Value
$
175,600
$ 175,600
Conversion is 1%
$
1,756
$ 1,756
Property Tax Levy
$
597.23
$ 634.27
Add Fire Special Assessment
$
75.50
$ -
Total City Tax Bill
$
672.73
$ 634.27
Tax
Capacity
Rate
$ 11,661,088 34.011%
$ 11,661,088 36.120%
Savings
$ 21.68
$ 38.46
Budget Discussion
August 8, 2011
Saa-ce-ty, Debt Serv�ce
ca B', L
City of Otsego
Analysis of Building Department Operating Costs
2012/2011 Projection
Expenses
Total Salaries and Benefits - Direct
Inspection Services
Administrative Salary and Benefits- Indirect -
($138,800 for 2011 and $25,000 for 2012)
Total Salaries and Benefits
Office Supplies and Expenses
(Primarily computer maintenance)
Vehicle Operating Expenses
(Based on Jan. to June allocation)
Insurance
(Auto and other)
Professional Services
(Legal, Planning & Engineering)
(Includes code enforcement)
Telephone
Printing and Binding
Dues and Memberships
Education and Training
(MMUA safety program)
Contracted Services
TR Computers for Permit Works software - support and licenses
Softronics
Rentals
(Rental of large Ricoh printer)
Vehicle Replacement
Transfer to General Fund
Total Expenses and Transfers
($5,000 per year)
Total Expenses
Projected/Actual Building Safety Revenue
Projected Operating Deficit - 2012
Projected Operating Deficit - 2011
2012
$ 94,441
85,000
25,000
1,500
4,040
2,850
15,000
8,000
500
1,500
2,170
1,410
300
3,656
5,000
Actual Thru June,
2011
$ 41,291
43,950
69,400
204,441 154,641
1,262
2,020
6,385
2,992
1,465
1,084
1,410
2,213
1,828
37,500
45,926 58,159
250,367 212,800
$ 217,250 $ 110,150
$ (33,117) (102,650)
X2
$ (205„300)
City of Otsego
Combination of 2003/2004/2006 G.O. Improvement Bonds
Assessment
Revenue Payments Tax
Year 2003 2004 2006 2003 2004 2006 levies Reserve
2011 $ 53,000
2012 49,000
2013 30,000
2014 12,000
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
$ 107,000
100,000
95,000
57,000
55,000
49,000
144,000 463,000
$ 70,000
$ 190,000
$ 202,415
$ 319,000
$ 316,000
77,000
189,000
206,290
218,000
275,000
73,000
189,000
204,630
218,000
275,000
77,000
193,000
207,600
523,000
275,000
75,000
601,000
500,000
72,000
602,000
500,000
70,000
602,000
500,000
66,000
607,000
525,000
63,000
605,000
550,000
60,000
613,000
550,000
58,000
619,000
575,000
55,000
613,000
550,000
5,000
372,000
375,000
4,600
370,000
375,000
4,500
372,000
350,000
4,300
379,000
375,000
4,000
375,000
355,566
838,400
761,000
820,935
8,008,000
7,221,566
The above analysis at least in the short-term will deplete the Revolving Capital Improvement Fund.
Analysis includes the 2004 Quaday Improvement Bond (2004) also.
Analysis includes no special assessments from GRC/Apello
Analysis assumes no deferred/inactive special assessments are paid.
Analysis does not assume any prepaid special assessments
$ 972,969
807,554
695,264
556,634
54,034
83,034
102,034
70,034
54,034
62,034
59,034
73,034
65,034
73,034
82,634
65,134
65,434
50,000
City of Otsego
Public Works Building
Analysis of Debt Service Fund and Required City Contributions
Cash on Hand at December 31, 2010 - Fund 385
Cash on Hand at December 31, 2010 - Fund 441
Cash on Hand for other projects
Projected City annual tax levy
Estimated interest earnings
Total Assets
Bond Principal Due for 2011 - 2021
Interest Due for 2011- 2021
Updated 6/01/11
Municipal Bldg Debt Fund $ 178,697
Municipal Bldg Project Fund 565,171
(City hall $18,708; PW $50,000) (68,708)
3,612,347
94,689
$4,382,196
$3,705,000
677,196
4,382,196
3,612,347
94,689
»»»> A cash balance exists in the Municipal Building Fund. The City Tax Levy is a computation of a reasonable annual
levy to service the debt taking into consideration the cash on hand at December 31, 2010.
Analysis does not include the money transferred from 2009 budget for carryover items totaling $68,708.
This analysis assumes the City Council has determined that all monies remaining in the City Campus Fund should
be used for debt service. Other scenarios can be prepared as determined by Council direction.
Debt Service schedule is based on the refunding bonds issued in 2010.
Total Liabilities
$4,382,196
Other
City
Sources or
Available
Total
Tax
Additional
Estimated
Cash
Year
Debt
Levy
Levy
Interest
Balance
2010
$
675,160
2011
220,141
150,000
16,879
$
621,898
2012
235,323
150,000
15,547
$
552,123
2013
232,323
175,000
13,803
$
508,603
2014
229,323
225,000
12,715
$
516,996
2015
496,323
300,000
12,925
$
333,598
2016
492,923
350,000
8,340
$
199,016
2017
494,423
400,000
4,975
$
109,569
2018
495,070
450,000
2,739
$
67,238
2019
494,390
500,000
1,681
$
74,529
2020
497,560
550,000
1,863
$
128,832
2021
494,400
362,347
3,221
$
0
4,382,196
3,612,347
94,689
»»»> A cash balance exists in the Municipal Building Fund. The City Tax Levy is a computation of a reasonable annual
levy to service the debt taking into consideration the cash on hand at December 31, 2010.
Analysis does not include the money transferred from 2009 budget for carryover items totaling $68,708.
This analysis assumes the City Council has determined that all monies remaining in the City Campus Fund should
be used for debt service. Other scenarios can be prepared as determined by Council direction.
Debt Service schedule is based on the refunding bonds issued in 2010.
City of Otsego
Expenditures of the General Fund and Reserves
Pavement
Park
Park
Public Works
Fire
Total
Operations
Management
Trail
Equipment
& Other
Services
Projected Fund Balance 12/31/11
$ 4,257,404
$ 1,713,440
$ 908,193 $
26,569
$ 98,000
$ 444,202
$ 1,067,000
Add:
Tax Levy
3,720,000
2,715,000
300,000
25,000
50,000
150,000
480,000
Other Revenue
434,000
434,000
Projected Interest Allocation
2.50% 136,924
100,000
22,705
664
2,450
11,105
-
Balance and Additions
4,290,924
3,249,000
322,705
25,664
52,450
161,105
480,000
Less Projected 2012 Expenditures
4,577,759
3,245,800
484,217
-
-
367,742
480,000
Projected Fund Balance 12/31/12
$ 3,970,569
$ 1,716,640
$ 746,681 # $
52,233
$150,450
$ 237,565
$ 1,067,000
City of Otsego
General Fund Revenue Budget
Source Description
31010 Property Taxes - Curr. Yr.
98% Collection
State Aid reduction
2009 2010
Actual Actual
$ 3,232,926 $ 3,295,917
3,232,926 3,295,917
34150 Topo Sales
34303 P.W. - charges to other departments
34330
Est. Tax Revenue
3,232,926
32100
Business Licenses
23,570
32210
Dog Licenses
330
32250
Sign Permits
950
32260
Building Permits
75,000
32270
Septic Permits
7,000
33405
Police Aid
47,529
33406
MSA Maintenance
134,176
33404
Other State Aid
1,872
34050
Administrative fees
7,892
34107
Assessment searches
630
34105
Maps/copies
122
34150 Topo Sales
34303 P.W. - charges to other departments
34330
Grading Reviews
34201
Mining Fees
34710
Recreation Fees
36100
Special Assessments
36210
Interest Earnings
36230
Donations
37165
Antenna Rental
38000
Rent
38050
Franchise Fees
39000
Other
Total Revenue
Operating Transfers
Public works building reserve
628
27,753
250
7,162
108,353
500
40,493
44,200
87,807
13,308
3,866,903
(237,694)
3,058,223
15,034
124
550
75,000
7,000
46,822
138,428
6,534
2,700
650
108
1,560
(100)
360
31,658
97,904
6,600
60,133
28,200
97,228
3,317
$ 3,678,033
$ 3,866,903 $ 3,678,033
Final
2011
Budaet
$ 3,360,000
3,360,000
(237,319)
3,122,681
17,500
250
500
75,000
7,000
47,000
135,625
1,854
8,000
50,000
100,000
500
54,890
24,000
85,000
75,000
$3,804,800
Six month Proposed
Actual 2012
6/30/2011 Budget
$2,782,000
2,782,000
(67,000)
1,268,600 2,715,000
13,450 15,000
50
47,000
147,633 145,000
1,872
287
140
475
2,520
00f
169,512
3,000
25,522
24,815
68,291
1,724,655
25,000
2,500
30,000
100,000
3,000
62,500
100,000
2,128
3,249,000
50,000
$3,854,800 $1,724,655 $3,249,000
City of Otsego
General Fund Expenditures Budget
Dep't Activit
Total
General Government
41100
Mayor & Council
41400
Administration
41410
Elections
41600
Finance
41550
Assessing
41700
Legal
41530
Planning Commission
41570
Planner
41900
EDA
41940
City Hall
41950
Peavey House/OTH
Total
Total
Public Works
41560 Engineering
43160 Street Lighting
43100 Street Maintenance
Total
Public Safety
42100
Police
42150
Police Commission
42200
Fire Protection
42710
Animal Control
Total
Public Works
41560 Engineering
43160 Street Lighting
43100 Street Maintenance
Total
Community Services
43620
Clean Up Day
45200
Park Maintenance
45250
Recreation Services
45300
Heritage Preservation
Actual
Total
2011
Other Uses
49360
Transfers - capital outlay
Total Expenditures
Final
Proposed
Notes/Cost
2009
2010
Budget
Budget
Per Percentage
Actual
Actual
2011
2012
Capita Change
$ 49,525
$ 25,665
$ 47,392
$ 52,392
Moved Festival support
435,478
387,847
384,467
470,319
$16,000 allocated to Building Safety
364
9,342
1,000
10,000
Election in 2012
142,482
142,629
183,682
240,906
$9,000 allocated to Building Safety
67,568
67,557
70,000
70,000
63,090
69,366
65,000
65,000
620
780
2,368
861
56,785
60,912
65,000
90,000
Includes $25K comp plan update
58,292
17,096
16,500
23,635
Apex abatements completed in 2012
58,255
38,223
57,920
51,920
941
723
2,000
1,000
933,399
820,140
895,329
1,076,033
$ 76.86 20.18%
817,600
840,892
861,400
872,350
1,387
2,129
2,710
2,710
8,243
11,725
9,000
12,000
827,229
854,746
873,110
887,060
$ 63.36 1.60%
74,180
82,136
65,000
65,000
118,404
102,093
105,000
105,000
724,286
764,024
805,277
804,743
916,870
948,253
975,277
974,743
$ 69.62 -0.05%
161,123
158,783
223,112
238,764
49,139
40,682
56,500
67,500
190
1,610
1,700
1,700
210,452
201,075
281,312
307,964
$ 22.00 9.47%
-
-
-
-
$ - 0.00%
$ 2,887,950
$ 2,824,215
$ 3,025,028
$ 3,245,800
$ 231.84 7.30%
City of Otsego
2012 Property Tax Levy
Levy Subject to Levy Limits
General Government
Fire Service Levy
Pavement management levy
Park trail management levy
Public works capital equipment levy
Park capital equipment levy
Total General Fund
Special Levies
2003 Debt Service DS Sec., pg 2
2006 Street
Improvement DS Sec., pg 5
Quaday
Public Works Building DS Sec., pg 7
Total
Total General Fund
Collected percentage
General Fund Budgeted Tax Revenue
277,806 140,900 138,000 138,000 -
- 177,700 178,000 178,000 275,000
- 250,000 150,000 150,000
$ 3,424,716 $3,720,690 $ 3,818,000 $ 3,966,000 $ 4,212,000
3,146,910 3,402,090 3,252,000 3,500,000 3,787,000
95% 95% 96% 96% 98%
2,989,565 3,231,986 3,121,920 3,360,000 3,720,000
Final
Final
Final
Final
Proposed
2008
2009
2010
2011
2012
$
2,641,910
$2,887,090
$
2,612,000
$
2,670,228
$
2,782,000
$
-
$ -
$
-
$
-
$
480,000
$
300,000
$ 300,000
$
400,000
$
529,772
$
300,000
$
25,000
$ 25,000
$
40,000
$
42,000
$
25,000
$
180,000
$ 190,000
$
200,000
$
160,000
$
150,000
$
98,000
$
50,000
3,146,910
3,402,090
3,252,000
3,500,000
$
3,787,000
277,806 140,900 138,000 138,000 -
- 177,700 178,000 178,000 275,000
- 250,000 150,000 150,000
$ 3,424,716 $3,720,690 $ 3,818,000 $ 3,966,000 $ 4,212,000
3,146,910 3,402,090 3,252,000 3,500,000 3,787,000
95% 95% 96% 96% 98%
2,989,565 3,231,986 3,121,920 3,360,000 3,720,000
City of Otsego
Comparative Levy Information
Total City of Otsego General Property Tax Levy
Add:
Fire Service Paid By Assessments
Less
Market Value Homestead Credit
to be paid by State of MN (Estimated)
2009 2010 2011 2012
$ 3,720,690 3,818,000 $ 3,966,000 $ 4,212,000
477,100 478,570 479,325
(237,000) (237,000) (237,000)
Net Taxes and Assessments paid for City of Otsego Services $ 3,960,790 4,059,570 $ 4,208,325 $ 4,212,000