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6/5/2023 - City Council - Regular - Agendas
* The Consent Agenda lists those items of business which are considered to be routine, recommended for approval, and/or which need no discussion. The several separate items listed on the Consent Agenda are acted upon by one motion. There will be no separate discussion of these items unless a Council Member makes a request, in which event the item will be removed from the Consent Agenda and placed elsewhere on the regular agenda for Council discussion and action. ** Under Public Comment, individuals may address the City Council about any item not contained on the regular agenda. Each speaker should keep their statements to three minutes to allow sufficient time for others. The Council will take no official action on items discussed at the forum, with the exception of referral to staff for future report. CITY OF SPRING PARK CITY COUNCIL AGENDA JUNE 5, 2023 – 6:30 PM SPRING PARK CITY HALL 1. CALL TO ORDER 2. PLEDGE OF ALLEGIANCE 3. APPROVAL OF AGENDA 4. PUBLIC COMMENT 5. REQUESTS & PRESENTATIONS 6. CONSENT AGENDA a. Minutes - Regular City Council Meeting, May 15, 2023 b. Minutes - Council Work Session, May 15, 2023 c. Expenditures, May 15, 2023 (corrected) d. Expenditures, June 5, 2023 e. Special Event Permit #23-11; Res Pyro - Lord Fletcher’s Fireworks Event f. Submittal of 2023 Pay Equity Report 7. ACTION AGENDA a. Abdo: Long Range Planning Proposal (tabled at 5/15/23 meeting) b. City Hall Repair Quote; Staircase, Landing, and Building Repairs/Paint 8. REPORTS a. Mayor & Council b. Staff 9. ANNOUNCEMENTS/MISCELLANEOUS (INFORMATION ONLY) a. June 20, 2023 - Regular City Council Meeting – 6:30PM b. June 20, 2023 - Council Work Session – 5:30PM c. July 3, 2023 - Regular City Council Meeting – 6:30PM - CANCELLED d. July 12, 2023 - Planning Commission Meeting – 6:00PM 10. ADJOURNMENT CITY OF SPRING PARK CITY COUNCIL MINUTES MAY 15, 2023 – 6:30 PM SPRING PARK CITY HALL 1. CALL TO ORDER The meeting was called to order at 6:30 p.m. Council Present: Mayor Rockvam, Council Member’s Chase, Hoffman, Horton , and Sippel. Staff Present: City Administrator Anderson, City Engineer Nielson 2. PLEDGE OF ALLEGIANCE Mayor Rockvam led the audience in the Pledge of Allegiance 3. APPROVAL OF AGENDA Council Member Hoffman motioned, being seconded by Council Member Horton, to approve the agenda as amended adding item 6h. to the Consent Agenda, approve contract payment from Bituminous Roadways in the amount of $99,860.01. On vote being taken, the motion was unanimously approved. 4. PUBLIC COMMENT: Mike Mason asked if we were supposed to be getting revenue from the pull tabs. Mayor Rockvam asked City Administrator Anderson to look in to it. 5. REQUESTS & PRESENTATIONS: none 6. CONSENT AGENDA Council Member Horton motioned, being seconded by Council Member Chase, to approve the agenda with the addition of item 6h: a. Minutes - Regular City Council Meeting, May 2, 2023 b. Payroll & Expenditures, May 15, 2023 c. Special Event Permits #23-08 through #23-10: i. Back Channel: Sunset Sets, Artimer Market, and The Fast and the Beerious d. 2023 Annual Dock Permits e. MMKR Audit Services Scope of Work f. 2023 Annual Liquor and Cigarette Licenses g. Approve Pickleball Post install quote h. Approve Bituminous Roadways Contract Payment of $99,860.01. On vote being taken, the motion was unanimously approved. 7. ACTION AGENDA a. Approve IT Managed Services RFP Council Member Hoffman motioned, being seconded by Council Member Chase, to approve the IT RFP and include the changes as discussed. On vote being taken the motion was unanimously approved. b. Approval of Long-Range Planning Contract with Abdo Council Member Hoffman motioned, being seconded by Council Member Horton, to table item 7b to allow more time for Council review and add to the 6/5/23 meeting agenda. On vote being taken the motion was unanimously approved. 8. REPORTS a. Mayor & Council; Council Member Horton thanked the folks who filled in all the potholes. b. Staff; City Engineer Nielson provided road repair proposals for Northern and Warren Avenue. ➢ Northern Avenue: Council Member Hoffman motioned, being seconded by Council Member Horton, to obtain a quote from Bituminous Roadways for recommended repairs for Northern Avenue. On vote being taken, the motion was unanimously approved. ➢ Warren Avenue: Nielson will work on getting information on televising the sanitary sewer but recommended we wait to make the road repairs until the EPA drilling and other construction work in progress has been completed. 9. ANNOUNCEMENTS/MISCELLANEOUS (INFORMATION ONLY) a. June 5, 2023 - Regular City Council Meeting – 6:30PM b. June 20, 2023 - Regular City Council Meeting – 6:30PM c. June 20, 2023 - Council Work Session – 5:30PM d. July 3, 2023 - Regular City Council Meeting – 6:30PM – CANCELLED 10. ADJOURNMENT There being no further discussion, Council Member Hoffman motioned, being seconded by Council Member Sippel, to adjourn the meeting at 7:01p.m. On vote being taken, the motion was unanimously approved. Respectfully submitted, Jamie Hoffman, City Clerk CITY OF SPRING PARK WORK SESSION MINUTES MAY 15, 2023 – 5:30 PM SPRING PARK CITY HALL (Work Session discussion times are approximate) 1. 5:30: Long Range Financial Planning Bonnie Schweiger from Abdo presented long-range financial planning solutions to the Council. 2. 6:00: IT RFP City Administrator Anderson stated staff would like to RFP for IT Managed Services. The approval to RFP will be on the agenda for the regular Council meeting. 3. 6:10: Tennis Court Construction Dates/Bollard Install Date Sunset Access: Bollards will be installed at the Sunset Lake Access at the end of the month. Tennis/Pickleball Courts: Anderson stated he reviewed a quote for the tennis and pickleball courts for nets, posts, and sleeves that is just under $5K – it is included on the regular Council meeting agenda. The resurfacing will take place in July. 4. 6:15: LMCD Rep Discussion Mayor Rockvam stated he would like to hold on any action until Gabe makes a final decision. 5. 6:20: Miscellaneous • July 3rd Council Meeting will be cancelled. • Contractor payment from Bituminous Roadways will be added to the Consent Agenda. • HCRRA Bridge: Council requested budget numbers from Sambatek to replace the HCRRA bridge on West Arm Road West for public safety reasons. • Staff to gather bids to outsource HR and Payroll. 6. 6:30: Adjourn Council Member Hoffman motioned, being seconded by Council Member Horton, to adjourn the meeting at 6:30pm. On vote being taken, the motion was unanimously approved. *Check Summary Register© CITY OF SPRING PARK 05/04/23 6:07 PM Page 1 Batch: 050223PAY Name Check Date Check Amt 10100 Wells Fargo Bank NA 33293 CARSON, CLELLAND, & SCHRED 5/4/2023 $1,986.00 April 23' Legal Services - Seton Vilage Townho 33294 FIVE TECHNOLOGY, INC.5/4/2023 $1,840.00 May 23' Monthly IT Managed Utility Service & 33295 HAWKINS, INC.5/4/2023 $1,661.49 Purchased Chemicals for WTP 33296 JAMIE K. HOFFMAN 5/4/2023 $35.00 Reimbursement for SP gear - Spring 2023 33297 HOLTON ELECTRIC CONTRACT 5/4/2023 $759.03 Checking streetlight wires, replacing connection 33298 LOFFLER COMPANIES, INC.5/4/2023 $133.45 Copier Usage Agreement 03/22/23-04/21/23 33299 MNSPECT, LLC 5/4/2023 $2,966.77 April 23' Residential & Commercial Inspections/ 33300 REPUBLIC SERVICES, INC 5/4/2023 $1,654.50 Recycling Services for April 2023 33301 SAMBATEK, INC.5/4/2023 $7,353.13 Engi. Fees for Sunet Drive Utility Repairs 03/12 33302 THE STANDARD INSURANCE CO 5/4/2023 $5.10 To record & pay May 23' Life Insurance Premiu Total Checks $18,394.47 Batch: 050223PAY Page 1 05/04/23 6:13 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name 10100 Wells Fargo Bank NA 33293 05/04/23 CARSON, CLELLAND, & SCHREDER $145.00 April 23' Legal Services - Seton Vilage TownhomesLegal Fees 3681E 101-41600-304 $253.75 April 23' Legal Services - Mowing ContractLegal Fees 3681E 101-41600-304 $108.75 April 23' Legal Services - Public Works ContractLegal Fees 3681E 101-41600-304 $333.50 April 23' Legal Services - Hoop HousingLegal Fees 3681E 101-41600-304 $145.00 April 23' Legal Services - FundraisingLegal Fees 3681E 101-41600-304 $1,000.00 April 23' Prosecution ServicesLegal Fees 3681E 101-42000-304 $1,986.00Total 33294 05/04/23 FIVE TECHNOLOGY, INC. $613.34 May 23' Monthly IT Managed Utility Service & Other IT Support IT Technology Support 10523-15 & PE 101-41500-330 $613.33 May 23' Monthly IT Managed Utility Service & Other IT Support IT Technology Support 10523-15 & PE 601-49400-330 $613.33 May 23' Monthly IT Managed Utility Service & Other IT Support IT Technology Support 10523-15 & PE 602-49450-330 $1,840.00Total 33295 05/04/23 HAWKINS, INC. $1,661.49 Purchased Chemicals for WTPChemicals and Chem Pro 6455037E 601-49400-216 $1,661.49Total 33296 05/04/23 JAMIE K. HOFFMAN $35.00 Reimbursement for SP gear - Spring 2023Other MiscellaneousE 101-41500-437 $35.00Total 33297 05/04/23 HOLTON ELECTRIC CONTRACTORS, LLC $759.03 Checking streetlight wires, replacing connections, replace ground clamp Repairs/Maint Streets/Str 5545E 101-43100-402 $759.03Total 33298 05/04/23 LOFFLER COMPANIES, INC. $44.49 Copier Usage Agreement 03/22/23-04/21/23Office Equipment/Rental 4336933E 101-41500-413 $44.48 Copier Usage Agreement 03/22/23-04/21/23Office Equipment/Rental 4336933E 601-49400-413 $44.48 Copier Usage Agreement 03/22/23-04/21/23Office Equipment/Rental 4336933E 602-49450-413 $133.45Total 33299 05/04/23 MNSPECT, LLC $1,629.00 April 23' Code Enforcement ServicesContracted Services 0098117-INE 101-42400-310 $898.71 April 23' Residential & Commercial Inspections/Permit Fees/General Fees/Staff Meeting Contracted Services 0098133-INE 101-42400-310 $439.06 April 23' Residential & Commercial Inspections/Permit Fees/General Fees/Staff Meeting Plan Check Fees 0098133-INE 101-42400-305 $2,966.77Total 33300 05/04/23 REPUBLIC SERVICES, INC $102.66 Organics Pickup Services for May 2023Refuse/Garbage Disposal 0194-006199E 101-41900-384 $1,551.84 Recycling Services for April 2023Contracted Services 0894-006199E 101-42900-310 $1,654.50Total Batch: 050223PAY Page 2 05/04/23 6:13 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name 33301 05/04/23 SAMBATEK, INC. $4,330.86 Engi. Fees - West Arm Road Pavement 03/12/23- 04/08/23 Road Pavement Project 2 24202E 201-43100-528 $1,007.43 Engi. Fees for Sunet Drive Utility Repairs 03/12/23- 04/08/23 Engineering Fees 24225E 101-43100-303 $1,007.42 Engi. Fees for Sunet Drive Utility Repairs 03/12/23- 04/08/23 Engineering Fees 24225E 601-49400-303 $1,007.42 Engi. Fees for Sunet Drive Utility Repairs 03/12/23- 04/08/23 Engineering Fees 24225E 602-49450-303 $7,353.13Total 33302 05/04/23 THE STANDARD INSURANCE COMPANY $1.70 To record & pay May 23' Life Insurance PremiumPERA/FICA/Hosp InsE 101-41500-121 $1.70 To record & pay May 23' Life Insurance PremiumPERA/FICA/Hosp InsE 601-49400-121 $1.70 To record & pay May 23' Life Insurance PremiumPERA/FICA/Hosp InsE 602-49450-121 $5.10Total 10100 Wells Fargo Bank NA $18,394.47 Fund Summary 10100 Wells Fargo Bank NA 101 GENERAL FUND $9,068.26 201 PUBLIC IMPROV REVOLVING FUND $4,330.86 601 WATER FUND $3,328.42 602 SEWER FUND $1,666.93 $18,394.47 *Check Summary Register© CITY OF SPRING PARK 05/23/23 2:07 PM Page 1 Batch: 051623GoodToBeHome,052223WestArmRd,052223PAY Name Check Date Check Amt 10100 Wells Fargo Bank NA 33303 GOOD TO BE HOME CLEANING 5/16/2023 $250.00 April 2023 City Hall Cleaning Services 33304 BITUMINOUS ROADWAYS INC.5/22/2023 $99,860.01 Payment No.1 for West Arm Rd Construction 33305 ABDO LLP 5/23/2023 $9,268.28 Accounting/CPA Services for 2022 Audit Prepa 33306 CITY OF BLOOMINGTON 5/23/2023 $24.00 April 23' Water Testing Fees 33307 BRATT TREE COMPANY 5/23/2023 $8,500.00 Cotton Wood Tree Removal as part of West Ar 33308 CIVICPLUS, LLC 5/23/2023 $1,405.32 74 Municode Pages and 2 copies of supplemen 33309 ENVIRONMENTAL SYSTEMS RE 5/23/2023 $691.00 Annual Fee for ArcGIS Online GIS Professional 33310 GOPHER STATE ONE-CALL 5/23/2023 $48.60 April 23' Locates 33311 MARK HODGES 5/23/2023 $120.00 Recording services for Spring Park Work Sessi 33312 JAMIE K. HOFFMAN 5/23/2023 $90.61 Mileage Reim. For 2023 MCFOA Institute - Yea 33313 LARSON LAWNSCAPE, INC.5/23/2023 $13,556.25 March & April 2023 Snow Services - Salt Applic 33314 MEDIACOM, LLC 5/23/2023 $389.90 Internet Services 05/11/23-06/10/23 33315 METRO COUNCIL ENVIRON SER 5/23/2023 $21,758.45 June 23' Wastewater Treatment Monthly Fee 33316 MMKR & CO., P.A.5/23/2023 $6,500.00 Progress billing for services thru 04/30/23 on a 33317 MN DEPT OF HEALTH 5/23/2023 $899.00 2nd Qtr. 23' Community Water Supply Service 33318 NAVARRE TRUE VALUE HARDW 5/23/2023 $9.96 Purchase of flouride for WTP 33319 CITY OF ORONO 5/23/2023 $59,063.96 May 2023 Public Works Services 33320 RAK FISHING LLC 5/23/2023 $500.00 ESCROW Refund for Sign Permit No.23-02SIG 33321 RITEWAY BUSINESS FORMS&P 5/23/2023 $1,279.25 Printing/Assemble Charges for Spring 2023 Ne 33322 RON SCHARA ENTERPRISES, LL 5/23/2023 $500.00 ESCROW Refund for 2023 MN Bound Crappie 33323 SAFETY RAIL COMPANY, LLC 5/23/2023 $500.00 ESCROW Refund for Sign Permit No.23-01SIG 33324 SAMBATEK, INC.5/23/2023 $51,650.09 Engi. Fees for Sunet Drive Utility Repairs 04/09 33325 SHAUGHNESSY LAWN CARE 5/23/2023 $1,071.43 Clean Up and Mowing Services - 04/15/23-05/1 33326 US BANK 5/23/2023 $1,532.09 April 2023 Microsoft & Adobe Fees 33327 WSB & ASSOCIATES, INC.5/23/2023 $542.75 March 2023 Planning Services 33328 XCEL ENERGY 5/23/2023 $5,882.36 Electric Usage 03/28/23-04/26/23 - X-Mas Light 33329 XIONG, PATRIA 5/23/2023 $75.98 Mileage Reim. For 2023 MCFOA Institute - Yea Total Checks $285,969.29 Batch: 051623GoodToBeHome,052223WestArmRd,052223PAY Page 1 05/23/23 2:08 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name 10100 Wells Fargo Bank NA 33303 05/16/23 GOOD TO BE HOME CLEANING SERVI $250.00 April 2023 City Hall Cleaning ServicesContracted Services 1150E 101-41900-310 $250.00Total 33304 05/22/23 BITUMINOUS ROADWAYS INC. $99,860.01 Payment No.1 for West Arm Rd ConstructionRoad Pavement Project 2 WAR#1E 201-43100-528 $99,860.01Total 33305 05/23/23 ABDO LLP $962.25 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 03/31/23 Accounting Services 470119E 101-41500-302 $962.25 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 03/31/23 Accounting Services 470119E 601-49400-302 $962.25 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 03/31/23 Accounting Services 470119E 602-49450-302 $2,127.17 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 05/05/23 Accounting Services 472025E 101-41500-302 $2,127.18 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 05/05/23 Accounting Services 472025E 601-49400-302 $2,127.18 Accounting/CPA Services for 2022 Audit Preparation and Year-End Accounting through 05/05/23 Accounting Services 472025E 602-49450-302 $9,268.28Total 33306 05/23/23 CITY OF BLOOMINGTON $24.00 April 23' Water Testing FeesTesting Fees 22135E 601-49400-306 $24.00Total 33307 05/23/23 BRATT TREE COMPANY $8,500.00 Cotton Wood Tree Removal as part of West Arm Rd Project Road Pavement Project 2 9588E 201-43100-528 $8,500.00Total 33308 05/23/23 CIVICPLUS, LLC $1,405.32 74 Municode Pages and 2 copies of supplement No.13 to The Code of Ordinance Ordinance Codification 262550E 101-41500-119 $1,405.32Total 33309 05/23/23 ENVIRONMENTAL SYSTEMS RESEARCH $691.00 Annual Fee for ArcGIS Online GIS Professional Basic User Type 05/03/23-05/02/2024 Contracted Services 94480514E 601-49400-310 $691.00Total 33310 05/23/23 GOPHER STATE ONE-CALL $24.30 April 23' LocatesContracted Services 3040755E 601-49400-310 $24.30 April 23' LocatesContracted Services 3040755E 602-49450-310 $48.60Total 33311 05/23/23 MARK HODGES Batch: 051623GoodToBeHome,052223WestArmRd,052223PAY Page 2 05/23/23 2:08 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name $60.00 Recording services for Spring Park Work Sessions 04/17/23 Recording Service 3-05122023E 101-41100-109 $60.00 Recording services for Spring Park Work Sessions 05/15/23 Recording Service 4-05152023E 101-41100-109 $120.00Total 33312 05/23/23 JAMIE K. HOFFMAN $90.61 Mileage Reim. For 2023 MCFOA Institute - Year 1Membership/Dues/EduE 101-41500-433 $90.61Total 33313 05/23/23 LARSON LAWNSCAPE, INC. $8,000.00 March & April 2023 Snow Services - Salt Application Street Salt-Sanding 78692E 101-43101-318 $3,333.75 March & April 2023 Snow Services - Sidewalk & Trail Snow Removal - Sidewalk 78692E 101-43101-307 $2,222.50 March & April 2023 Snow Services - Streets & City Hall Snow Plowing - Streets 78692E 101-43101-309 $13,556.25Total 33314 05/23/23 MEDIACOM, LLC $129.96 Internet Services 05/11/23-06/10/23Internet ServiceE 101-42000-324 $129.97 Internet Services 05/11/23-06/10/23Internet ServiceE 601-49400-324 $129.97 Internet Services 05/11/23-06/10/23Internet ServiceE 602-49450-324 $389.90Total 33315 05/23/23 METRO COUNCIL ENVIRON SERVICES $21,758.45 June 23' Wastewater Treatment Monthly FeeMCES Sewer Service Chg 0001156817E 602-49450-327 $21,758.45Total 33316 05/23/23 MMKR & CO., P.A. $2,166.66 Progress billing for services thru 04/30/23 on audit of financial statements year end 12/31/22 Auditing Services 54492E 101-41500-301 $2,166.67 Progress billing for services thru 04/30/23 on audit of financial statements year end 12/31/22 Auditing Services 54492E 601-49400-301 $2,166.67 Progress billing for services thru 04/30/23 on audit of financial statements year end 12/31/22 Auditing Services 54492E 602-49450-301 $6,500.00Total 33317 05/23/23 MN DEPT OF HEALTH $899.00 2nd Qtr. 23' Community Water Supply Service Connection Fee (4/01/23-06/30/23) Testing FeesE 601-49400-306 $899.00Total 33318 05/23/23 NAVARRE TRUE VALUE HARDWARE $9.96 Purchase of flouride for WTPShop Supplies 341507E 601-49400-215 $9.96Total 33319 05/23/23 CITY OF ORONO $41,673.96 May 2023 Police ServicesContracted Services 20142193E 101-42000-310 $10,434.00 May 2023 Public Works ServicesContracted Services 20142194E 101-41510-310 $3,478.00 May 2023 Public Works ServicesPeople Service/Orono 20142194E 601-49400-103 $3,478.00 May 2023 Public Works ServicesPeople Service/Orono 20142194E 602-49450-103 $59,063.96Total Batch: 051623GoodToBeHome,052223WestArmRd,052223PAY Page 3 05/23/23 2:08 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name 33320 05/23/23 RAK FISHING LLC $500.00 ESCROW Refund for Sign Permit No.23-02SIGNEscrow AccountG 101-21700 $500.00Total 33321 05/23/23 RITEWAY BUSINESS FORMS&PRINTIN $426.41 Printing/Assemble Charges for Spring 2023 Newsletters (1,193) Print/Binding 23-31072E 101-41500-350 $426.42 Printing/Assemble Charges for Spring 2023 Newsletters (1,193) Print/Binding 23-31072E 601-49400-350 $426.42 Printing/Assemble Charges for Spring 2023 Newsletters (1,193) Print/Binding 23-31072E 602-49450-350 $1,279.25Total 33322 05/23/23 RON SCHARA ENTERPRISES, LLC $500.00 ESCROW Refund for 2023 MN Bound Crappie Contest Permit No.23-06SPEV Escrow AccountG 101-21700 $500.00Total 33323 05/23/23 SAFETY RAIL COMPANY, LLC $500.00 ESCROW Refund for Sign Permit No.23-01SIGNEscrow AccountG 101-21700 $500.00Total 33324 05/23/23 SAMBATEK, INC. $402.21 Engi. Fees for Sunet Drive Utility Repairs 04/09/23- 05/06/23 Engineering Fees 24374E 101-43100-303 $402.21 Engi. Fees for Sunet Drive Utility Repairs 04/09/23- 05/06/23 Engineering Fees 24374E 601-49400-303 $402.21 Engi. Fees for Sunet Drive Utility Repairs 04/09/23- 05/06/23 Engineering Fees 24374E 602-49450-303 $27,666.88 Engi. Fees for West Arm Rd Pavement 04/09/23- 05/06/23 Road Pavement Project 2 24376E 201-43100-528 $22,776.58 Engi. Fees for Black Lake Rd - 04/09/23-05/06/23Black Lake Rd Feasibility 24377E 201-43100-529 $51,650.09Total 33325 05/23/23 SHAUGHNESSY LAWN CARE $1,071.43 Clean Up and Mowing Services - 04/15/23-05/15/23Contracted ServicesE 101-45200-310 $1,071.43Total 33326 05/23/23 US BANK $30.75 April 2023 Microsoft & Adobe FeesComputer Support/SupplieE 101-41500-207 $30.75 April 2023 Microsoft & Adobe FeesComputer Support/SupplieE 601-49400-207 $30.74 April 2023 Microsoft & Adobe FeesComputer Support/SupplieE 602-49450-207 $119.46 Sunset Lake Access Filing Fee - Ofice of County Recorder Other MiscellaneousE 101-41500-437 $774.87 Hotel for 2023 MCFOA Clerks Institute for Patria Xiong - Year 1 Membership/Dues/EduE 101-41500-433 $296.60 Puchase of printer paper, garbage bags, water, SP gear Other MiscellaneousE 101-41500-437 $248.92 Postage for 2023 EDD Spring NewsletterPostage & MeterE 101-41500-322 $1,532.09Total 33327 05/23/23 WSB & ASSOCIATES, INC. $542.75 March 2023 Planning ServicesContracted Services R-021860-00E 101-41910-310 Batch: 051623GoodToBeHome,052223WestArmRd,052223PAY Page 4 05/23/23 2:08 PMCITY OF SPRING PARK *Check Detail Register© Amount CommentInvoiceCheck #Check Date Vendor Name $542.75Total 33328 05/23/23 XCEL ENERGY $14.12 Electric Usage 03/28/23-04/26/23 - X-Mas LightsUtilities/Electric/Gas 1033870787E 101-43100-381 $100.73 Electric Usage 03/28/23-04/26/23 - 4468 Shoreline Dr Utilities/Electric/Gas 1033941084E 101-43100-381 $178.22 Electric Usage 03/28/23-04/26/23 - Lift Station #1Utilities/Electric/Gas 1034978481E 602-49450-381 $2,776.17 Electric Usage 03/28/23-04/26/23 - WTPUtilities/Electric/Gas 1034978585E 601-49400-381 $64.08 Electric Usage 03/28/23-04/26/23 - 4300 Shoreline Drive Utilities/Electric/Gas 1034979646E 101-43100-381 $184.14 Electric Usage 03/28/23-04/26/23 - Central & North St Lights Utilities/Electric/Gas 1034979722E 101-43100-381 $34.95 Electric Usage 03/28/23-04/26/23 - Lift Station #4Utilities/Electric/Gas 1034979847E 602-49450-381 $134.33 Electric Usage 03/28/23-04/26/23 - Lift Station #5Utilities/Electric/Gas 1034979908E 602-49450-381 $608.41 Electric Usage 03/28/23-04/26/23 - Co Owned St Lights Utilities/Electric/Gas 1034979961E 101-43100-381 $103.58 Electric Usage 03/28/23-04/26/23 - Traffic Signal & East St Lights Utilities/Electric/Gas 1034979981E 101-43100-381 $123.84 Electric Usage 03/28/23-04/26/23 - Lift Station #3Utilities/Electric/Gas 1034980502E 602-49450-381 $959.16 Electric Usage 03/28/23-04/26/23 - Lift Station #6Utilities/Electric/Gas 1034980699E 602-49450-381 $228.83 Electric Usage 03/28/23-04/26/23 - City HallUtilities/Electric/Gas 1034980793E 101-43100-381 $322.59 Electric Usage 03/28/23-04/26/23 - Lift Station #2Utilities/Electric/Gas 1034981295E 602-49450-381 $49.21 Electric Usage 03/28/23-04/26/23 - West St LightsUtilities/Electric/Gas 1034982257E 101-43100-381 $5,882.36Total 33329 05/23/23 XIONG, PATRIA $75.98 Mileage Reim. For 2023 MCFOA Institute - Year 1Membership/Dues/EduE 101-41500-433 $75.98Total 10100 Wells Fargo Bank NA $285,969.29 Fund Summary 10100 Wells Fargo Bank NA 101 GENERAL FUND $79,758.66 201 PUBLIC IMPROV REVOLVING FUND $158,803.47 601 WATER FUND $14,147.88 602 SEWER FUND $33,259.28 $285,969.29 STAFF MEMO LORD FLETCHERS – FIREWORKS SPECIAL EVENT JUNE 16, 2023 1. BACKGROUND: ResPyro has submitted a special event permit application to conduct a fireworks display near Lord Fletchers Restaurant on Friday, June 16th. The fireworks show is expected to take place at approximately 10:00p.m. 2. DISCUSSION: The request for fireworks requires a special event permit application. The event organizer is proposing to have fireworks at the event that will be shot from a barge located on West Arm Bay. The show is expected to begin at approximately 10:00p.m. and last for about 15 minutes. Licensed operators will be on site to conduct the display. The event organizers will ensure all parking will take place on private property and conform to all City rules related to parking. Long Lake Fire Department, Mound Fire Department, Orono Fire Department, and Orono Police Department have reviewed and approved the event as long as proper notice has been sent to the residents within the required notice area. 3. FINANCIAL CONSIDERATIONS: All required permit fees have been received. 4. RECOMMENDED ACTION: Approve Special Event – Fireworks Display for permit #23- 11 SPEV. STAFF MEMO SUBMITTAL OF 2023 PAY EQUITY REPORT 1. BACKGROUND: The Local Government Pay Equity Act, Minnesota Statute § 471.991- 471.999 and Minnesota Rules, Chapter 3920 require local government jurisdictions to submit a pay equity report to the State of Minnesota every three years. This report is compiled to ensure equitable pay relationships between male and female employees. The City’s last report was filed in 2020. The job evaluation and salary data for Spring Park were prepared using the State Job Match System and the Minnesota Management and Budget salary formulas. 2. DISCUSSION: The preliminary results indicate that the City of Spring Park will continue to be in compliance with the Minnesota Pay Equity Act. However, the State will analyze the report and make an official determination. The City will accept the official findings and, if necessary, come back to the City Council if adjustments are needed to achieve compliance. Title Males Females Points Min Sal Max Sal Yrs Srv Exceptional Srv Finance Clerk 0 1 141 4679.10 4679.10 1.5 Performance City Clerk 0 1 228 6065.50 6065.50 1.5 Performance City Administrator 1 0 483 7500 7500 1 Performance 3. RECOMMENDATION: Authorize the submittal of Spring Park’s 2022 Pay Equity Report to the Minnesota Management and Budget Department. Proposed by Andrew Berg, CPA Partner | Abdo andrew.berg@abdosolutions.com P 952.715.3003 May 11, 2023 SERVICE PROPOSAL FOR City of Spring Park 4349 Warren Ave, Spring Park, Minnesota 55384 abdosolutions.com | Mankato, MN - Edina, MN - Scottsdale, AZ Mike Anderson,City Administrator City of Spring Park 4349 Warren Ave Spring Park,Minnesota 55384 Dear Mike, Thank you for the opportunity to submit this proposal to the City of Spring Park (the City) for par tnering with the City on a long-term financial plan to address the City's need for resources to fund upcoming capital improvement projects. During the City's annual financial audit last month, it was discussed that 2023 would be the right time to move ahead with this plan. In this proposal, Abdo Financial Solutions, LLC (Abdo FS) will demonstrate to you that we are the best choice for the City as a par tner to refine the capital improvement plan. Because we understand your goals, we will also: •Prepare projections for the years ending December 31, 2023 through 2028 including: ◦Cash flow projections for all capital funds ◦Evaluation of debt services fund inflows and outflows ◦Projecting tax levy and rate changes, based on your assumptions for growth and development •Evaluate funding sources and other assumptions provided by Management LONG-TERM PLAN PROJECTION The City has requested a proposal for preparing the projection (long range financial plan) which comprises the projected cash balances of City funds for the periods ending December 31, 2023, through 2028, including the related summaries of significant assumptions and accounting policies.A projection presents, to the best of management’s knowledge and belief, the City's expected cash balances for the projection period assuming managements expected borrowing, capital purchases, expenditure change, and revenue change assumptions. It is based on management’s assumptions, reflecting conditions it expects to exist and the course of action it expects would be taken during the projection period assuming the aforementioned assumptions. The projection is designed to provide management and Council a tool for future planning and might not be useful for other purposes. 1 The Firm is independent of the City as defined by auditing standards generally accepted in the United States of America. Abdo FS acknowledges the City may has retained an independent registered municipal advisor (IRMA) to assist and advise the City in evaluating information relating to the issuance of municipal securities and/or municipal financial products. Abdo FS acknowledges the City will rely on advice from their IRMA. Abdo FS will have no recourse against the City or its IRMA, regarding action or inaction relating to evaluating, commenting on, or responding to financial projects or information received under this Agreement. Abdo FS acknowledges it is not the registered independent municipal advisor retained by the Municipal Entity Client. We look forward to meeting with you to discuss our proposal and appreciate this opportunity to present Abdo FS for your consideration. Abdo Financial Solutions Andrew Berg, CPA Partner |Abdo 2 Executive Summary Continued The Abdo Difference At Abdo, we believe in the importance of relationships. This core value is the foundation of our approach to delivering the best experience and outcomes for our clients. It’s inherent in our people and the way we work. We know that for our clients to be successful, it takes more than having experience and credentials – we take the time to listen to their unique motivations, goals, and challenges. We truly care about their journey and where their path leads. Our process is built around a deep commitment to every client: We light the path forward so you can proceed with confidence. We're the par tner you can trust to help you along the way. We're the catalyst who empowers you to reach your goals. 33 LIGHTING THE PATH FORWARD Based on our ability to provide the requested services, our shared core values, and an understanding of your unique needs, we have the resources, knowledge, people and services to light the path forward for your city. We have assembled a team with relevant experience who are committed to working with you to ensure success. Each team member is briefly profiled below, and full biographies can be provided upon request. Your Team Government Partner andrew.berg@abdosolutions.com P 952.715.3003 ANDREW BERG, CPA Senior Manager bonnie.schwieger@abdosolutions.com P 952.715.3065 BONNIE SCHWIEGER, CPA 44 Associate jill.knutson@abdosolutions.com P 952.715.3074 JILL KNUTSON OUR QUALIFICATIONS •GFOA and MnGFOA Association members •Government operations training •MSRB Municipal Advisor Qualified Representatives (Series 50 and Series 54) •Consulting services for over 100 cities •We’ve assisted many municipalities in preparing for the GFOA’s Certificate of Achievement for Excellence awards in financial reporting You can have confidence in our years of experience performing consulting services, the quality of the accounting services we offer and our understanding of the unique challenges our clients face in the government space. Since 1963, we’ve served cities just like yours. With an unwavering commitment to streamlining processes, training staff, and finding technology-based solutions, we proudly offer excellence in city consulting and auditing. Out of our 180-strong, talented staff, over 40 team members are 100% focused on government clients, which include over 100 cities and other governmental entities. By serving cities across Minnesota, we have become exper ts in the nuances of how to best support your city. Our exper tise affords you a consulting experience that is painless. We do this by communicating up front, coming fully prepared, and being available throughout the year to support you. PROCESS Our methods are centered around incorporating technology to deliver unparalleled solutions for government organizations. In addition to our consulting experience, our firm exper tly performs outsourcing for governments giving us a wealth of experience in a consulting role. We don’t believe in a one-size-fits-all mentality. So together, we’ll focus on the needs that are relevant to your city and provide the right services to meet them with a customized methodology based on your needs. We’re focused on developing creative, customized solutions to help your city mitigate costs and boost efficiency. FOCUS Through continuous training and growth oppor tunities, we’ve established an environment with a focus on serving government entities. We spend more than 100 hours training and onboarding to ensure success for our clients. We truly hope that you partner with us to light the path forward for your organization. Government Experience 5 Government Experience Continued OUR FINANCIAL MANAGEMENT AND CONSULTING SERVICES INCLUDE: •Budget process development •Capital improvement planning •Cash flow analysis •Cost containment processes •Debt management plans •ERP system consulting •Federal and State relations/grant consulting •Finance Director services •Financial management plans •Financial reporting and analysis •Fleet: Operations and replacement rate analysis •Interim accounting and financial services •Internal control evaluation •Long-term strategic planning •Payroll processing •Policy development •Process flows and efficiencies •Project management •Quarterly and monthly reporting to management •Reconciliations •Software implementation •Utility/fee analysis •Year-end audit preparation and financial statement preparation 6 Long-term Planning Approach PROJECT APPROACH The following information outlines the approach we will take for the project. INITIAL ASSESSMENT The first step to this project is to review and analyze data provided by the City. After this review, Abdo FS will meet with the city team to discuss overall anticipated project expectations, outcomes and timelines. LONG-TERM PLAN The objective of our consulting engagement is to prepare a long-term plan in accordance with the Statement on Standards for Consulting Services issued by the American Institute of Certified Public Accountants (AICPA) based on information provided by you. Professional Competence:We will have the necessary knowledge, skills, and expertise to perform the consulting services competently and should only undertake engagements that they can reasonably expect to complete with professional competence. Due Professional Care:We are required to exercise due professional care in the performance of our consulting services. This includes being diligent, thorough, and acting in the best interest of their clients. Planning and Supervision:We will adequately plan and supervise the consulting engagement to ensure that it is conducted efficiently and effectively. This includes setting objectives, assigning responsibilities, and establishing procedures to achieve the engagement's goals. Sufficient Relevant Data:We will obtain sufficient relevant data to provide a reasonable basis for their recommendations and conclusions. We will also evaluate the reliability, accuracy, and relevance of the data they use. Communication:We will communicate their findings, recommendations, and conclusions to the client in a clear, concise, and timely manner. This includes discussing significant limitations, uncertainties, or other factors that may affect the reliability of our advice. Confidentiality:We will maintain the confidentiality of clients' information and not disclose it without the client's consent, except when required by law or professional standards. Professional Objectivity:We will maintain professional objectivity and be free from conflicts of interest that could compromise our ability to provide unbiased advice and recommendations. Professional Development:CPAs should engage in continuous professional development to maintain and improve their professional competence in providing consulting services. 77 SEE AN SAMPLE REPORT 8 CITY EXPECTATIONS The engagement to be performed is conducted on the basis that you acknowledge and understand that our role is to prepare the projection in accordance with guidelines for the presentation of a projection established by the AICPA. You have the following overall responsibilities that are fundamental to our undertaking the engagement to prepare your projection in accordance with SSAR •The selection of accounting principles to be applied in the preparation of the projection. •The design, implementation, and maintenance of internal control relevant to the preparation and presentation of the projection that is free from material misstatement, whether due to fraud or error. •The prevention and detection of fraud. •To ensure that the City complies with the laws and regulations applicable to its activities. •The accuracy and completeness of the records, documents, explanations, and other information, including significant judgments, you provide to us for the engagement to prepare the projection. Devote uninterrupted time to working with us as needed. •Make candid representations about your plans and expectations. •Make all management decisions and perform all management functions. •Provide an individual responsible to review and accept our work. •To provide us with: ◦Documentation and other related information that is relevant to the preparation and presentation of the projection, ◦Additional information that may be requested for the purpose of the preparation of the projection, and ◦Unrestricted access to persons within the City with whom we determine it necessary to communicate. The projection will not be accompanied by a report. However, you agree that the projection will clearly indicate that no assurance is provided on it. UNANTICIPATED SERVICES While the fixed price entitles the City to unlimited consultation with us, if your question or issue requires additional research and analysis beyond the consultation, the work will be subject to an additional price, payment terms, and scope to be agreed upon before the service is performed and a change order will be issued to document this understanding. Furthermore, the parties agree that if an unanticipated need arises (training to different groups, researching a new issue, etc.) we hereby agree to perform this additional work at a mutually agreed upon price. This service will be priced separately to the City, using a change order. Long-term Planning Approach Continued 9 PRICE GUARANTEE If you ever receive an invoice without first authorizing the service, payment terms, and price, you are not obligated to pay for that service. FINANCIAL INVESTMENT Long-term Plan $12,000 Total $12,000 Payment Schedule: Contract Execution $6,000 Project Completion $6,000 Travel time for attendance at a Council Meeting will be invoiced at one-half our hourly bill rates, plus mileage at current IRS rates. If the City requires a revision to initial assumptions (i.e. a revision to the capital improvement plan, or other major assumptions) a second iteration of the report can be provided at a cost of $5,000. In an effort to reduce environmental impact, you will receive printable, downloadable PDFs of your report. To receive one (1) paper report, you will be charged $150 for a set-up fee. Additional paper copies will be charged at the rate of $50 per report. This quote is valid for thir ty (30) days. Abdo FS will begin preparing the long-term plan for the City within eight weeks of execution of the agreement. Completion of the long-term plan is expected to be within sixty (60) days from inception of the project however; this is dependent on the time frame in which the City provides information to Abdo FS for the long-term plan development. The stated fee is based on anticipated cooperation from your personnel and the assumption that unexpected circumstances will not be encountered during the engagement. If significant additional time is necessary, we will discuss it with you and arrive at a new fee estimate before we incur the additional costs. You agree to hold us harmless and to release, indemnify, and defend us from any liability or costs, including attorney's fees, resulting from management's knowing misrepresentations to us. QUALITY ASSURANCE Quality is critical the success and integrity of this project. Our internal processes ensure that all work is reviewed and approved prior to moving to the next phase of a project. Our processes require that work is reviewed by a staff member at a higher level than the person that completed it and ultimately the work is signed off on by the Abdo FS President. CONCLUSION Throughout this process we will be in constant communication with the city team to ensure their needs are being met. By utilizing our operational experience as well as our knowledge of governmental accounting, our 50 plus years of experience providing services to Minnesota municipalities and our knowledge of regulations in the State of Minnesota we will provide the City information and recommendations for financial processes. We are excited about this opportunity and the benefits the City will recognize as this long-term plan is finalized. Long-term Planning Approach Continued We believe technology should enhance our service offerings, making our work less intrusive, our time with you more productive and everyone’s data more secure. The use of technology in our financial accounting and consulting services enables us to streamline our processes and helps to automate cer tain functions of our work so we are able to spend more time analyzing our results and working directly with you. Through the outbreak of COVID-19, our team has been able to seamlessly move to a completely remote work environment with no loss of productivity, cooperation, or communication. Since March 17, 2020, our staff has been successfully conducting remote financial accounting and consulting services using the latest video conferencing and secure file sharing technology. Through Zoom, Microsoft Teams, or whatever technology your city may use, our team will continue to work through normal procedures, including regular meetings with you during the engagement to ensure effective collaboration with your team. We take the security of our client's data - and our own - very seriously. A number of systems are in place to ensure the safety of your city’s data. We operate on a remote distributed infrastructure leveraging Microsoft’s Cloud Platform Azure. This not only allows our staff to securely work from any computer, anywhere, any time, but also provides large- scale, cutting-edge technology and security for your data. Your data is housed in secure data centers that reside exclusively in the U.S. and not on laptops or local servers which could be stolen or misplaced. We continually provide security awareness training to our staff members to ensure they are good digital stewards of your data. In addition to this, we also consult bi annually with 3rd party security exper ts to conduct risk assessments and conduct annual penetration tests. IT ALSO MEANS: All firm staff use dual authentication to ensure that every login to our remote environment is secure and authorized. 10 Technology All data is saved on redundant servers and data centers so if one server fails, another immediately takes over with no data lost. All data is backed up continually which means we always have an extra copy for safe-keeping. All incoming emails, attachments, and embedded links are scanned for viruses prior to landing in our inbox, which allows us to operate with more protection from phishing emails, malware attacks, and other digital threats. Our cloud platform, Azure, is globally trusted by companies and governments and has numerous security compliance standard they adhere to. Reports of these can be provided as requested. CLIENT REFERENCES One of the things we enjoy most about our work is developing long-term relationships with our clients and watching their city thrive as we help them to evolve and grow. Our clients listed below serve as a sample of references of those we partner with for their financial management services. Additional references are available upon request. What Our Clients Say CITY OF BLOOMING PRAIRIE Andrew Langholz City Administrator P 507.583.7573 Services Provided: Long-term Plan Utility Rate Study Debt Management Study CITY OF ALBERTVILLE Tina Lannes Finance Director P 763.497.3384 Services Provided: Long-term Plan CITY OF CRYSTAL Kim Therres Assistant City Manager P 763.531.1132 Services Provided: Long-term Plan Outsourced Finance Director Process Evaluation (ProEval) Utility Rate Study 11 Value-Added Services When you partner with Abdo, you get access to our entire catalog of services. Below is a selection of the additional solutions that we believe could be of great value to your city. If you have need of these services, please reach out to us so we can help! Our additional service offerings can be found at www.abdosolutions.com. HR & PAYROLL SERVICES We help employers better support their most valuable resource...their people.Having clear and consistent HR practices that best suit the individuality of your city is key, even more so in today’s tight employment environment. And because the right policies are just as important, we lend our HR expertise to help you strategically plan for your future. We help cities with: •Employee management and development •Regulatory compliance •Benefits analysis and administration, including the Affordable Care Act (ACA) and workers’ compensation •HR/Payroll software implementation and management •Advisory services such as specialized labor cost analysis, compensation studies, and HR process development and implementation FRAUD & FORENSIC SERVICES Fraud can happen when you least expect it.Even a single instance of it can devastate your city’s accounting, not to mention its reputation. With Cer tified Fraud Examiners (CFEs) and forensic accounting experts on staff, we provide a broad slate of solutions to meet your unique needs - as well as those of your counsel and stakeholders. From conducting forensic data analyses of books and records to providing expert witness testimony, our seasoned professionals act swiftly and confidentially to help you maintain business as usual.If you notice signs of fraudulent activity or unethical conduct involving management, employees, or a third party, it’s critical to gather evidence before you plan your next step - we can help. 1212 13 TECHNOLOGY & DATA SOLUTIONS Empowering you with advanced data analytics & insights.Data is one of your city’s most powerful assets. Using it to your advantage, however, can be a challenge. Our technology and data solutions are designed to give you the information you need - how, when, and where you need it. Our consultants leverage a powerful mix of technology and tools to support you with the data analytics and insights you need. From creating user-friendly dashboards and reports to managing software implementations, we deliver solutions that work for you. We can help your city with: •Strategic data analytics •Software solutions: evaluation, selection & implementation •Financial reporting solutions •Automation solutions ENTERPRISE RESOURCE PLANNING (ERP) ANALYSIS & IMPLEMENTATION When choosing an ERP system, the options are seemingly endless. How do you know which ERP system is best for your city? Abdo Financial Solutions can help.We can partner with you to design and implement an ERP system that fits your needs by: •Assisting with the RFP Process - We’ll define the technical specifications to include in your RFP and provide suppor t through the ERP vendor selection process. •Facilitating a Seamless Implementation - If needed, we can manage the organization-wide implementation of your ERP system in accordance with your budget and schedule. •Communicating Change - We’ll communicate with staff members to explain the “why” behind ERP and demonstrate how it will make their lives easier. To help staff members navigate new processes, we’ll provide training as needed. AUDIT & ASSURANCE We specialize in simplifying the complex.Our audit professionals go beyond the required audit to make sure you have a clear understanding of your city’s financial information. We have a specialized team of auditors that can perform your city’s financial statement audit along with the following specialized audits: •Employee Benefit Audits (401k, 403b, etc.) •Single Audits •Lawful Gambling Audits •Extended Employment Audits •Review & Compilation Services 13 14 15 Why Partner with Abdo “Listening to our clients’ needs, understanding their challenges, and adjusting how we work together is key to our partnership with the people we serve.” --Steve McDonald, CPA |Managing Partner LIGHTING THE PATH FORWARD In a world of ever-changing complexity, people need caring, empathetic and highly skilled professionals they can depend on to provide the right advice and solutions for them. Our clients seek growth and success, but also want security and confidence. For nearly 60 years, Abdo has provided insights for our clients to help them achieve their goals. That same innovative spirit is also what has earned us the title of being one of the top accounting firms in the Midwest. Abdo is a better firm today because of the efforts we made to support a culture driven by our core values of growth, relationships, and teamwork. With this foundation in place, we have successfully helped our clients identify and break through their own growth barriers. Every challenge they face is an opportunity for us to listen, understand and empower them with solutions and a plan to achieve their goals. It’s fulfilling to serve as the catalyst that helps them overcome obstacles that block their progress. When it comes to our working relationships, we are partners. We’re confidants. We’re the catalyst that sparks true business growth, providing guidance through every challenge and opportunity along the way. ABOUT ABDO Abdo is a full-service accounting and consulting firm that delivers customized strategies and innovative solutions to help businesses, governments and nonprofits succeed. With more than 180 professionals and nearly six decades of experience, Abdo is ranked as one of the top accounting firms in the Midwest. It is a licensed CPA firm with offices located in Minneapolis and Mankato, Minnesota, and Scottsdale, AZ. Abdo’s commitment to its clients is to gain in- depth knowledge of their unique challenges, opportunities, and needs. Through this consultative approach, Abdo partners with organization leaders to light the path forward to confidently reach their goals. 16 Appendix A AGREEMENT FOR FINANCIAL SERVICES 17 Agreement for Financial Services THIS AGREEMENT, is made and entered into on Not yet submitted by and between the City of Spring Park, Minnesota (hereinafter referred to as the “Client”), and Abdo Financial Solutions (hereinafter referred to as the “Contractor”). Articles of Agreement & Recitals WHEREAS, the Client is authorized and empowered to secure from time to time certain professional services through contracts with qualified consultants; and WHEREAS, the Contractor understands and agrees that: 1.The Contractor will act as an Independent Contractor in the performance of all duties under this Agreement. Accordingly, the Contractor shall be responsible for payment of all taxes, including federal, state and local taxes and professional/business license fees arising out of the Contractor’s activities; 2.The Contractor shall have no authority to bind the Client for the performance of any services or to obligate the Client. The Contractor is not an agent, servant, or employee of the Client and shall not make any such representations or hold himself/herself out as such; 3.The Contractor shall be the exclusive outsourced accounting service provider for the Client during the term of this Agreement; 4.The Contractor shall perform all professional services in a competent and professional manner, acting in the best interests of the Client at all times. 5.The Contractor shall not accrue any continuing contract rights for the services performed under this Agreement. NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, it is agreed as follows: ARTICLE I INCORPORATION OF RECITALS The recitals and agreement set forth above are hereby incorporated into this Agreement. ARTICLE II LIABILITY INSURANCE Section 1 Liability Insurance:The Contractor shall obtain professional liability insurance, at their expense with liability insurance coverage minimums in the amount of $2,000,000, which Contractor must secure and maintain during the term of this Agreement. Contractor will provide Client with proof of liability insurance coverage under this Agreement in writing upon request by the Client. 18 ARTICLE III DURATION OF THE AGREEMENT Section 1 Duration:This Agreement shall commence upon date of execution by all parties and will remain in effect until August 30, 2023 unless earlier terminated as provided in Sections 2 and 3. Section 2 Client's Termination Rights:The Client may terminate this Agreement upon sixty (60) days written notice in the event the Client determines in its sole discretion that it is not in the Client's best interest to continue using Contractor’s services. The Client may terminate on ten (10) days written notice if the Contractor fails to perform its obligations under this Agreement. Section 3 Contractor’s Termination Rights:Contractor may terminate this Agreement upon thir ty (30) days written notice to Client in the event Client does not pay Contractor compensation as required under Article 5, Section 9 within fifteen (15) days after invoice is received by Client. In the event of non-payment within thirty (30) days, Contractor shall give the Client an oppor tunity to cure the default by giving a notice of such non-payment and an additional five (5) days after the Client's receipt of the notice to remit such payment, prior to giving a notice of termination. Contractor can also terminate the Agreement with sixty (60) days written notice if the Contractor believes it is in its best interests to terminate the Agreement. ARTICLE IV GENERAL Section 1 Authorized Client Agent:The Client's authorized agent for the purpose of administration of this Agreement is the City Administrator. Said agent shall have final authority for approval and acceptance of the Contractor’s services performed under this Agreement and shall further have responsibility for administration of the terms and conditions of this Agreement. All notices under this Agreement shall be sent to the person and address indicated below on the signature lines. Section 2 Amendments: No amendments or variations of the terms and conditions of this Agreement shall be valid unless in writing and signed by the parties. Section 3 Assignability: The Contractor’s rights and obligations under this Agreement are not assignable or transferable. Section 4 Data:Any data or materials, including, but not limited to, reports, studies, photographs, negatives, or any and all other documents prepared by the Contractor or its outside consultants in the performance of the Contractor's obligations under this Agreement shall be the exclusive property of the Client, and any such data and materials shall be remitted to the Client by the Contractor upon completion, expiration, or termination of this Agreement. Further, any such data and materials shall be treated and maintained by the Contractor and its outside consultants in accordance with applicable federal, state and local laws. Further, Contractor will have access to data collected or maintained by the Client to the extent necessary to perform Contractor's obligations under this Agreement. Contractor agrees to maintain all data obtained from the Client in the same manner as the Client is required under the Minnesota Government Data Practices Act, Minnesota Statutes Chapter 13 or other applicable law (hereinafter referred to as the "Act"). Contractor will not release or disclose the contents of data classified as not public to any person except at the written direction of the Client. Upon receipt of a request to obtain and/or review data as defined in the Act, Contractor will immediately notify the Client. The Client shall provide written direction to Contractor regarding the request within a reasonable time, not to exceed fifteen (15) days. The Client agrees to indemnify, hold harmless and defend Contractor for any liability, expense, cost, damages, claim, and action, including attorneys' fees, arising out of or related to Contractor's complying with the Client's direction. Subject to the aforementioned, Contractor agrees to defend and indemnify the Client from any claim, liability, damage or loss asserted against the Client as a result of Contractor's failure to comply with the requirements of the Act. Upon termination and/or completion of this Agreement, Contractor agrees to return all data to the Client, as requested by the Client. 19 Agreement for Financial Services Continued 20 ARTICLE IV - CONTINUED GENERAL (CONTINUED) Section 5 Entire Agreement:This Agreement is the entire agreement between the Client and the Contractor, and it supersedes all prior written or oral agreements. There are no other covenants, promises, under takings, or understandings outside of this Agreement other than those specifically set forth. Any term, condition, prior course of dealing, course of performance, usage of trade, understanding, or agreement purpor ting to modify, vary, supplement, or explain any provision of this Agreement is null and void and of no effect unless in writing and signed by representatives of both par ties authorized to amend this Agreement. Section 6 Severability:All terms and covenants contained in this Agreement are severable. In the event any provision of this Agreement shall be held invalid by any court of competent jurisdiction, this Agreement shall be interpreted as if such invalid terms or covenants were not contained herein, and such holding shall not invalidate or render unenforceable any other provision hereof. Section 7 Contractor Fiscal Decision Waiver: Contractor is responsible for providing the Client with timely and accurate financial recommendations and information that allows the Council the ability to make final financial decisions. Contractor will provide final financial recommendations but is not responsible for the final decisions made regarding financial matters. Section 8 Client Employment of Contractor’s Employees: The Client acknowledges and agrees that Contractor’s workforce, including employees assigned to staff the engagement provided for under this Agreement, constitutes an important and vital aspect of Contractor’s business. In recognition of the foregoing and the harm that Contractor will suffer in the event of the loss of one or more of its employees, the Client agrees that during the Term of this Agreement and for a period of six (6) months following the termination of this Agreement for any reason (the “Restrictive Time Period”) the Client shall not, directly or indirectly, on behalf of itself or any person, firm, corporation, association or other entity, (a) recruit, solicit, or assist anyone else in the recruitment or solicitation of, any of Contractor’s employees to terminate their employment with Contractor and to become employed by or otherwise engaged with or by the Client in any capacity independent of Contractor; (b) hire or engage any Contractor employee; or (c) otherwise encourage or induce any of Contractor’s employees to terminate their employment with Contractor. Notwithstanding the foregoing, Contractor may (but shall not be obligated to) consent to the Client's recruitment, solicitation, employment or other engagement of a Contractor employee otherwise prohibited by this paragraph provided that (a) the Client discloses to Contractor in writing its desire to recruit, solicit, employ or otherwise engage the Contractor employee independent of Contractor before engaging with the Contractor employee regarding any such potential relationship; (b) the Client agrees to pay Contractor a Restrictive Covenant Exception Fee (as hereafter defined) in the event the Contractor employee becomes employed by or otherwise engaged with the Client independent of Contractor; and (c) Contractor provides written consent to the Client to engage with the Contractor employee regarding any such relationship. For purposes of this Agreement, the Restrictive Covenant Exception Fee shall be the greater of: (i) 150% of the annual contracted cost of Contractor’s services under this Agreement in addition to the annual contracted cost paid or due Contractor hereunder; or (ii) 150% of the fees paid or due Contractor for services provided under this Agreement during the twelve (12) month period immediately prior to the termination of this Agreement or, in the event the Agreement has not been terminated, during the twelve (12) month period immediately prior to Contractor’s provision of written consent to the Client to engage in the recruitment, solicitation, employment or other engagement of a Contractor employee otherwise prohibited by this paragraph. Agreement for Financial Services Continued 21 ARTICLE IV - CONTINUED GENERAL - CONTINUED Section 9 Compensation:The par ties agree that the Contractor shall be paid compensation for the services provided hereunder, payable for work performed in accordance with this Agreement, based on the fees indicated on the Value page of this proposal. Additional fees will not be incurred without prior approval of the Client. Initial invoice for anticipated first month fees will be sent within 10 days of the execution of this agreement. Monthly installment fees will be invoiced throughout the remainder of this Agreement. If the Agreement is for an hourly fee basis, invoices will be sent monthly. Section 10 Additional Services:Should the Client request additional services in addition to the Contracted Services, the Contractor will provide the Client with proposed fees for the services to be provided. The Client shall provide a written or electronic confirmation prior to the proposed services implementation. Section 11 Outside Contractors:It shall be the responsibility of Contractor to compensate any other outside consultants retained or hired by Contractor to fulfill their obligations under this Agreement and shall be responsible for their work and Contractor, by using outside contractors, shall not be relieved of its obligations under this Agreement. Section 12 Municipal Advisor:Abdo FS acknowledges the Client has retained an independent registered municipal advisor (IRMA) to assist and advise the Client in evaluating information relating to the issuance of municipal securities and/or municipal financial products. Abdo FS acknowledges the Client will rely on advice from their IRMA.Abdo FS will have no recourse against the Client or its IRMA, regarding action or inaction relating to evaluating, commenting on, or responding to financial projects or information received under this Agreement. Abdo FS acknowledges it is not the registered independent municipal advisor retained by the Municipal Entity Client. Agreement for Financial Services Continued Appendix B AGREEMENT FOR THE PROVISION OF PROFESSIONAL SERVICES 22 Agreement for the Provision of Professional Services WHEREFORE, this Agreement was entered into on the date set forth below and the undersigned, by execution hereof, represent that they are authorized to enter into this Agreement on behalf of the respective parties and state that this Agreement has been read by them and that the undersigned understand and fully agree to each, all and every provision hereof, and hereby, acknowledge receipt of a copy hereof. City of Spring Park 4349 Warren Ave Spring Park,Minnesota 55384 SIGNATURE Mike Anderson Abdo Financial Solutions, LLC 5201 Eden Avenue, Suite 250 Edina, Minnesota 55436 Andrew Berg, CPA Partner |Abdo Not yet submitted 23 CITY OF SAMPLE, MINNESOTA LONG TERM PLAN Presented on Date Prepared by Abdo Financial Solutions INSERT CITY LOGO Sample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample City of Sample, Minnesota Long Term Plan Table of Contents Page No. Compilation Disclosure 5 Introductory Section Transmittal Letter 9 Financial Section Schedule of Property Taxes Levied and Tax Rates 14 Schedule of Annual Fund Cash Balances 18 Outstanding Debt Schedule 20 Transfer Schedule 23 Capital Improvement Plan Capital Outlay Revolving Fund 401 Schedule of Planned Capital Outlay 20XX to 20XX 24 Schedule of Projected Revenue, Expenditures and Debt 26 Street Repair Fund 410 Schedule of Planned Capital Outlay 20XX to 20XX 28 Schedule of Projected Revenue, Expenditures and Debt 30 Swimming Pool Improvement Fund 835 Schedule of Planned Capital Outlay 20XX to 20XX 32 Schedule of Projected Revenue, Expenditures and Debt 34 Ambulance Equipment 890 Schedule of Planned Capital Outlay 20XX to 20XX 36 Schedule of Projected Revenue, Expenditures and Debt 38 Rural Fire Truck Fund 899 Schedule of Planned Capital Outlay 20XX to 20XX 40 Schedule of Projected Revenue, Expenditures and Debt 42 Water Utility Fund 601 Schedule of Planned Capital Outlay 20XX to 20XX 44 Statement of Cash Flows 46 Sewer Utility Fund 602 Schedule of Planned Capital Outlay 20XX to 20XX 48 Statement of Cash Flows 50 Storm Water Fund 604 Schedule of Planned Capital Outlay 20XX to 20XX 52 Statement of Cash Flows 54 Additional Graphical Analysis 56 Sample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample COMPILATION DISCLOSURE Honorable Mayor and City Council City of Sample City, Minnesota We have compiled the accompanying forecasted long-term plan that includes property tax, tax rate, fund balance and debt projections based on input from City staff. This projection incorporates estimates through December 31, 20XX. This forecast was compiled in accordance with attestation standards established by the American Institute of Certified Pu blic Accountants. A compilation is limited to presenting in the form of forecast information that is the representation of management and does not include evaluation of the support for the assumptions underlying the forecast. We have not examined the forecast and, accordingly, do not express an opinion or any other form of assurance on the accompanying statements or assumptions. Furthermore, there will usually be differences between the forecasted and actual results because events and circumstances frequently do not occur as expected, and those differences may be material. We have no responsibility to update this report for events and circumstances occurring after the date of this report. Sincerely, Abdo Financial Solutions Sample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample INTRODUCTORY SECTION CITY OF SAMPLE, MINNESOTA LONG TERM PLANSample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample Date Honorable Mayor and City Council City of Sample City, Minnesota Introduction We have prepared the attached 20XX - 20XX Long-term Financial Plan for the City that is intended to give a big picture view of the financial status of each fund as it stands currently and how forecasted assumptions will change things up to five years from now. We have measured and projected operations, capital and debt for the City based on assumptions made by management. The City’s assumptions made are as follows: Assumptions The following assumptions have been used to calculate the proj ections in this report: Assumptions Capital Improvement Cost Inflation 1.00% Interest Earnings 1.00% General Fund Levy Growth 10.00% Debt Service Fund Levy (Percentage of Next Year's Debt Service)105.00% Governmental Fund Revenue Growth 3.00% Governmental Fund Expenditure Growth 3.00% Governmental Funds Debt Term 15 Governmental Funds Debt Interest Rate 3.00% Enterprise Fund Revenue Growth 5.00% Enterprise Fund Expense Growth 5.00% Enterprise Debt Term 30 Enterprise Debt Interest Rate 3.00% Tax Capacity Growth 1.50% Fiscal Disparities Growth 1.00% Population Growth 0.25% Median Home Value 78,582$ Median Home Value Growth 0.50% 1 Sample Assumptions • The annual tax levy for the General fund is set each year to cover the cost of operations without decreasing from the previous year. The annual levy increase is 10 percent during the 5 year period. Normal operating expenses will increase by a three percent inflation rate. Operating revenues will increase by a two percent rate. • Cash balance projections for debt service funds are as projected in the 20XX Debt Study, and debt service funds will be levied per debt management analysis. • Transfer from fund 207 (Duplex) is assumed in 20XX to the General Fund to help fund sustain positive cash balances. • In 20XX $3,677,395 in Public Facilities Authority financing and a $749,530 Green grant has been modeled in fund 604 (Storm Water). • Fund 307 (General Obligation Improvement Bonds 20XXA) levy will be eliminated and funded by subsequent transfers from fund 501 (G.O Debt Service) per the debt management analysis. • A direct tax levy has been assumed in Fund 410 (Street Repair) starting in 20XX to fund the capital projects identified in fund. As a result of this established levy fund 401 (Capital Outlay Revolving) will be lowered starting in 20XX to decrease tax impact. • Fund 899 (Swimming Pool Improvement) is projected to have negative cash by the end of 20XX. Interfund financing from the Capital Outlay Revolving fund has been modeled in this projection as a transfer. • The Enterprise Funds 601 (Water), 602 (Sewer) and 604 (Storm Water) cash flows are as projected in the 20XX Rate Study. Abdo FS prepared a utility rate analysis for the City, we recommend the City Council analyze utility rates on an annual basis. o The cash balances in the Sewer, Water and Storm Water funds increased over the life of this plan. The utility rate analysis addresses appropriate rate adjustment to ensure adequate resources are available for ongoing maintenance and capital replacement in the funds. o Storm Water has no anticipated capital projects contemplated at this time. Fund cash balances presents opportunity for projects starting in 20XX and in subsequent years. • Presently, no projects have been identified for the Ambulance Equipment, and Rural Fire Truck funds. Key Highlights • The annual tax levy for the General fund is set each year to cover the cost of operations without decreasing from the previous year. The annual levy increase is 10 percent during the 5 year period. • General Fund cash is maintained at the State Auditor 35%-50% reserves. • The total cash position of the City is projected to increase from $2.3 million (20XX actual) to $2.8 million over the duration of this plan. Mainly due to a decline in General Fund cash balance from decreased projected revenue. • The tax levy is projected to increase from $681,487 (20XX) to $729,109 over the duration of this plan. This is a result of the General Fund levy increasing, on average 10 percent per year debt service obligations being fulfilled before maturity, and the establishing of levies in capital funds. • Pay-as you go methodology was applied to the capital project funds in the plan. Levies were established and spread amongst the various funds to support future capital needs and to avoid issuance of debt in future. Sample Recommendations • Develop a strategic plan for capital projects. Establish a documented plan that aligns with the City’s needs and developing capabilities. o Utilize the capital improvement plan template provided by Abdo FS to capture ongoing identification of capital and maintenance expenditures. o It is recommended that this document be reviewed and updated on an annual basis to reflect the City’s changing needs. • Maintain established levies in the capital funds for cost of capital improvement plan items in subsequent years beyond long-term plan. • Over the lifetime of this plan fund 605 (Recycling is estimated to have a deficit starting in 20XX. • The City should adjust the refuse collection rates accordingly based on the cost of providing the refuse services. Rates should be reviewed and revised annually based on changes to the various rate components. • Review the Garbage fund in the future. This should include analysis of operations, assessment and long term considerations. This analysis assumes a 5% growth in revenue from operations. The Plan is based on several assumptions prepared by Management and should be revisited on an annual basis to ensure the assumptions align with specific performance. Sample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample FINANCIAL SECTION CITY OF SAMPLE, MINNESOTA LONG TERM PLAN Sample 20XX 20XX Actual Estimated Amounts Amounts Property Taxes Levied for General Purposes 101 General Fund 448,264$ 506,465$ Subtotal 448,264 506,465 Property Taxes Levied for Capital 401 Capital Outlay Revolving 154,000 74,500 410 Street Repair - - 835 Swimming Pool Improvements - - 890 Ambulance Equipment - 8,855 899 Rural Fire Truck - - Subtotal 154,000 83,355 Property Taxes Levied for Debt Service 302 2003 G.O Crossover Refunding Bonds - - 305 2012A G.O Improvement Refunding Bonds - - 307 2009A G.O Improvement Bonds 38,248 68,782 309 2012B G.O Improvement Bonds 16,869 - 316 Street Shop Interfund 24,106 24,106 501 G.O Debt Service - - Subtotal 79,223 92,888 Property Taxes Levied for Future Staffing 101 General Fund - - Total Taxes Levied 681,487 673,853 Less: Value of Market Value Levies - - Less: Distribution from fiscal disparities - - City Net Levy 681,487$ 673,853$ Tax Capacity Personal and Real Estate 666,801$ 676,803$ Estimated New Growth - - Less: Contribution to fiscal disparities - - Less: Tax Increment - - Adjusted net tax capacity 666,801$ 676,803$ City of Sample, Minnesota Schedule of Property Taxes Levied and Tax Rates For the Years Ended December 31, 20XX (Actual) and 20XX to 20XX (Estimated) Sample 20XX 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts 557,111$ 612,823$ 674,105$ 741,515$ 815,667$ 557,111 612,823 674,105 741,515 815,667 25,000 25,750 26,523 27,318 28,138 - 75,000 77,250 79,568 81,955 70,000 72,100 74,263 76,491 78,786 9,121 9,394 9,676 9,966 10,265 - - - - - 104,121 182,244 187,712 193,343 199,143 - - - - - - - - - - 71,981 53,747 - - - - - - - - 24,106 24,106 24,106 24,106 24,106 - - - - - 96,087 77,853 24,106 24,106 24,106 - - - - - 678,198 716,426 724,733 792,940 867,911 - - - - - - - - - - 678,198$ 716,426$ 724,733$ 792,940$ 867,911$ 686,955$ 697,259$ 707,718$ 718,334$ 729,109$ - - - - - - - - - - - - - - - 686,955$ 697,259$ 707,718$ 718,334$ 729,109$ Sample 20XX 20XX Actual Estimated Amounts Amounts Tax Rates General 196.44%301.25% Proposed levies for staffing 0%0% Proposed capital levies 23.10%12.32% Scheduled debt levies 11.88%13.72% Proposed debt levies 0.00%0.00% Total City Levy Tax Rate 102.20%99.56% Total EDA Tax Rate 0.00%0.00% Population 1,333 1,333 Taxes per Capita 511.24 505.52 Median Home Value (Jan 2)78,582$ 78,975$ Median Home Taxes (from city)494.66 485.87 % change from prior year $'s -2% Tax Levy ($) General 448,264$ 506,465$ Special Revenue - - Existing Debt - - Proposed Debt - - Proposed Capital 154,000 74,500 Tax Levy (%) General 66%75% Special Revenue 0%0% Existing Debt 0%0% Proposed Debt 0%0% Proposed Capital 23%11% General Fund Percentage Change in Levy (%)13% For the Years Ended December 31, 20XX (Actual) and 20XX to 20XX (Estimated) City of Sample, Minnesota Schedule of Property Taxes Levied and Tax Rates (Continued) Sample 20XX 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts 454.23%607.77%1363.48%1591.72%1858.49% 0%0%0%0%0% 15.16%26.14%26.52%26.92%27.31% 13.99%11.17%3.41%3.36%3.31% 0.00%0.00%0.00%0.00%0.00% 98.73%102.75%102.40%110.39%119.04% 0.00%0.00%0.00%0.00%0.00% 1,333 1,333 1,333 1,333 1,333 508.78 537.45 543.69 594.85 651.10 79,370$ 79,767$ 80,165$ 80,566$ 80,969$ 486.72 510.66 513.05 558.55 607.09 0%5%0%9%9% 557,111$ 612,823$ 674,105$ 741,515$ 815,667$ - - - - - - - - - - - - - - - 25,000 25,750 26,523 27,318 28,138 82%86%93%94%94% 0%0%0%0%0% 0%0%0%0%0% 0%0%0%0%0% 4%4%4%3%3% 10%10%10%10%10% Sample City of Sample, Minnesota Schedule of Annual Fund Cash Balances For the Years Ended December 31, 20XX (Actual) and 20XX to 20XX (Estimated) 20XX 20XX Actual Estimated Amounts Amounts GOVERNMENT-TYPE General Operations 101 General Fund 761,992$ 714,417$ Special Revenue 209 Grant 112,267 112,267 865 Community Field (1,314) - Subtotal 110,953 112,267 Debt Service 302 2003 G.O Crossover Refunding Bonds - - 305 2012A G.O Improvement Refunding Bonds 315,874 267,782 307 2009A G.O Improvement Bonds 92,040 69,210 309 2012B G.O Improvement Bonds 117,734 65,964 316 Street Shop Interfund 12,054 12,054 501 G.O Debt Service 39,326 40,326 Subtotal 577,028 455,337 Capital Projects 401 Capital Outlay Revolving 378,754 211,596 410 Street Repair 88,298 49,181 835 Swimming Pool Improvements 18,508 27,755 890 Ambulance Equipment 22,541 23,586 899 Rural Fire Truck 270,947 294,251 Subtotal 779,048 606,370 Total - Governmental-type Funds 2,229,021 1,888,391 BUSINESS-TYPE Enterprise Funds 207 Duplex 92,374$ 374 601 Water Utility (142,238) (226,522) 602 Sewer Utility 63,909 (147,401) 603 Garbage 24,362 21,067 604 Storm Water 54,013 (74,602) 605 Recycling 55,632 52,397 Total - Business-type Funds 148,052 (374,687) Grand Total - City 2,377,073$ 1,513,704$ * Sample 20XX 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Trend 607,461$ 536,294$ 505,889$ 521,760$ 590,012$ 112,267 112,267 112,267 112,267 112,267 - - - - - 112,267 112,267 112,267 112,267 112,267 - - - - - 219,410 - - - - 86,193 - - - - 41,515 20,504 28,510 5,346 26,391 12,054 12,054 12,054 12,054 12,054 326 7,055 1,986 3,096 4,146 359,498 39,613 42,550 20,496 42,591 222,008 258,524 239,933 268,716 188,878 29,423 20,967 73,677 144,231 222,628 (14,505) (10,684) (812) 5,481 20,323 24,667 25,784 26,938 28,130 29,362 318,407 343,440 369,379 396,252 424,090 579,999 638,030 709,114 842,811 885,281 1,659,225 1,326,204 1,369,820 1,497,333 1,630,151 374 374 374 374 374 (197,383) (204,917) (44,386) 314,576 375,265 (314,331) (339,239) (239,696) 46,452 545,396 17,606 13,973 10,158 6,153 1,947 (189,433) (239,347) (202,645) (61,299) 241,871 49,000 45,434 41,689 37,757 33,628 (634,166) (723,722) (434,505) 344,012 1,198,480 1,025,059$ 602,482$ 935,315$ 1,841,346$ 2,828,632$ Trend Indicator Adequate for reserve levels Adequate as of prior year but balances decrease, watch Below targeted reserve levels and should have a plan to address The fund has events in the future that need addressing now Sample City of Sample, Minnesota Outstanding Debt Schedule For the Years Ended December 31, 20XX (Actual) and 20XX to 20XX (Estimated) Original Issue Maturity Interest Fund Issue Issue Date Date Rate GOVERNMENT-TYPE General Obligation Bonds 307 G.O Improvement Bonds 2009A 270,000$ 7/1/2009 1/1/2025 3.25 - 5.00 % 305 G.O Improvement Refunding Bonds of 2012A 1,060,000 5/17/2012 1/1/2023 2.00 - 2 .40 309 G.O Improvement Bonds 2012B 1,520,000 5/17/2012 1/1/2028 1.50 - 3.00 Total G.O. Bonds 5,495,000 POTENTIAL NEW DEBT General Obligation Bonds Total Potential General Obligation Bonds - Total Government-type 5,495,000 BUSINESS-TYPE General Obligation Revenue Bonds 601 G.O Water Revenue Note of 2000 (PFA)1,910,364 9/19/2000 8/20/2020 2.16 601 G.O Water Revenue Note of 2019 (PFA)2,786,625 6/11/2019 8/20/2039 1.00 602 G.O Revenue Bonds of 2007B 515,000 7/1/2007 1/1/2023 4.20 - 4.60 602 G.O Sewer revenue Note of 2011 (PFA)3,454,722 8/24/2011 8/20/2030 1.25 602 G.O Sewer revenue Note of 2019 (PFA)2,157,161 6/11/2019 8/20/2030 1.00 604 G.O Improvement Temporary Bonds 2019A 1,630,000 5/28/2019 5/1/2020 1.50 - 2.00 604 G.O Improvement Temporary Bonds 2019B 1,015,000 12/18/2019 6/15/2020 1.50 - 2.00 Total G.O. Revenue Bonds 13,468,872 POTENTIAL NEW DEBT General Obligation Revenue Bonds 601 Water Utility 600,000 602 Sewer Utility 500,000 603 Garbage - 604 Storm Water 3,677,395 605 Recycling - Total Potential General Obligation Revenue Bonds 4,777,395 Total Business-type 18,246,267 Total All Funds 23,741,267$ Population Debt Per Capita - total Sample 20XX 20XX 20XX 20XX 20XX 20XX 20XX Actual Estimated Estimated Estimated Estimated Estimated Estimated Balance Balance Balance Balance Balance Balance Balance 129,000$ 110,000$ 90,000$ -$ -$ -$ -$ 545,000 415,000 280,000 - - - - 985,000 885,000 785,000 680,000 575,000 465,000 355,000 1,659,000 1,410,000 1,155,000 680,000 575,000 465,000 355,000 - - - - - - - 1,659,000 1,410,000 1,155,000 680,000 575,000 465,000 355,000 118,000 - - - - - - 2,786,625 2,652,600 2,525,600 2,395,600 2,265,600 2,134,600 2,001,600 130,000 85,000 40,000 - - - - 2,146,000 1,963,000 1,777,000 1,589,000 1,399,000 1,206,000 1,011,000 2,157,161 2,057,700 1,958,700 1,858,700 1,757,700 1,655,700 1,552,700 1,630,000 - - - - - - 1,015,000 - - - - - - 9,982,786 6,758,300 6,301,300 5,843,300 5,422,300 4,996,300 4,565,300 - - - - - 600,000 467,000 - - - - - 500,000 500,000 - - - - - - - - 3,493,525 3,309,656 3,125,786 2,941,916 2,758,046 2,574,177 - - - - - - - - 3,493,525 3,309,656 3,125,786 2,941,916 3,858,046 3,541,177 9,982,786 10,251,825 9,610,956 8,969,086 8,364,216 8,854,346 8,106,477 11,641,786$ 11,661,825$ 10,765,956$ 9,649,086$ 8,939,216$ 9,319,346$ 8,461,477$ 1,333 1,333 1,333 1,333 1,333 1,333 1,333 8733.52 8748.56 8076.49 7238.62 6706.09 6991.26 6347.69 Sample THIS PAGE IS LEFT BLANK INTENTIONALLY Sample Fund 20XX 20XX 20XX 20XX 20XX 20XX 20XX Transfers In 101 General Fund -$ 92,000$ -$ -$ -$ -$ -$ 209 Grant - - - - - - - 865 Community Field - 1,314 - - - - - 302 2003 G.O Crossover Refunding Bonds 19,929 - - - - - - 305 2012A G.O Improvement Refunding Bonds 59,541 - - - - - - 307 2009A G.O Improvement Bonds - - 40,000 4,400 - - - 309 2012B G.O Improvement Bonds 53,216 - - - 25,000 - 40,000 316 Street Shop Interfund - - - - - - - 501 G.O Debt Service - - - 11,129 19,931 1,110 1,050 401 Capital Outlay Revolving - - - - - - - 410 Street Repair - - - - - - - 835 Swimming Pool Improvements - 75,000 - - - - - 890 Ambulance Equipment - -- - - - - 899 Rural Fire Truck - -- - - - - 207 Duplex - -- - - - - 601 Water Utility - -- - - - - 602 Sewer Utility - -- - - - - 603 Garbage - -- - - - - 604 Storm Water - -- - - - - 605 Recycling - -- - - - - Total Transfers In 132,686 168,314 40,000 15,529 44,931 1,110 41,050 Transfers Out 101 General Fund - 1,314 - - - - - 209 Grant - -- - - - - 865 Community Field - -- - - - - 302 2003 G.O Crossover Refunding Bonds - -- - - - - 305 2012A G.O Improvement Refundsing Bonds - -- 11,035 18,114 - - 307 2009A G.O Improvement Bonds - -- 94 1,817 1,110 1,050 309 2012B G.O Improvement Bonds - -- - - - - 316 Street Shop Interfund - -- - - - - 501 G.O Debt Service - -40,000 4,400 25,000 - - 401 Capital Outlay Revolving - 75,000 - - - - - 410 Street Repair - -- - - - - 835 Swimming Pool Improvements - -- - - - - 890 Ambulance Equipment - -- - - - - 899 Rutal Fire Truck - -- - - - - 207 Duplex - 92,000 - - - - - 601 Water Utility 50,846 - - - - - 20,000 602 Sewer Utility 51,247 - - - - - - 603 Garbage - - - - - - - 604 Storm Water 30,593 - - - - - 20,000 605 Recycling 29,571 - - - - - - Total Transfers Out 132,686 168,314 40,000 15,529 44,931 1,110 41,050 Net Transfers -$ -$ -$ -$ -$ -$ -$ City of Sample, Minnesota Transfer Schedule For the Years Ended December 31, 20XX (Actual) and 20XX to 20XX (Estimated) Sample City of Sample, Minnesota Capital Improvement Plan - Capital Outlay Revolving Fund 401 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts All 20XX TV145 Loader 150,000$ 150,000$ -$ All 20XX Skyjack Scissor lift *12,000 - - All 20XX H&S utility trailer 3,500 - - Library 20XX Backroom Remodel 20,000 20,000 - Library 20XX Roof Repairs 20,000 - 20,000 City Hall 20XX Door Replacement(SE) 5,000 - 5,000 City Hall 20XX Flooring 10,000 - - Park 20XX Steel on exterior 6,500 - - Park 20XX Refurbish Park Bathrooms 50,000 - - Park 20XX Bathhouse/Shelter 120,000 - - 170,000$ 25,000$ Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - 10,000 - - 6,500 - - - 50,000 - - - -- 120,000 -$ 56,500$ 10,000$ 120,000$ Sample City of Sample, Minnesota Capital Improvement Plan - Capital Outlay Revolving Fund 401 Schedule of Projected Revenue, Expenditures and Debt 20XX 20XX 20XX Actual Estimated Estimated Revenues Property taxes 154,000$ 74,500$ 25,000$ Interest on investments 4,351 3,788 2,116 Intergovernmental revenue 18,691 - - Miscellaneous 7,820 8,055 8,296 Total Revenues 184,862 86,342 35,412 Expenditures Capital outlay 163,457 178,500 25,000 Other Expenditures Principal paid on debt 32,241 Interest paid on debt 1,092 Total Expenditures 196,790 178,500 25,000 Excess (Deficiency) of Revenues Over (Under) Expenditures (11,928) (92,158) 10,412 Other Financing Sources (Uses) Transfers in - - - Transfer out - (75,000)- Bond proceeds - -- Sale of Fixed Asset 9,118 - - Total Other Financing Sources 9,118 (75,000) - Net Change in Fund Balances (2,810) (167,158) 10,412 Cash Balances January 1 381,564 378,754 211,596 Cash Balances, December 31 378,754$ 211,596$ 222,008$ Capital Project Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 25,750$ 26,523$ 27,318$ 28,138$ 2,220 2,585 2,399 2,687 - - - - 8,545 8,801 9,066 9,337 36,515 37,909 38,783 40,162 - 56,500 10,000 120,000 - 56,500 10,000 120,000 36,515 (18,591) 28,783 (79,838) - - - - - - - - - - - - - - - - - - - - 36,515 (18,591) 28,783 (79,838) 222,008 258,524 239,933 268,716 258,524$ 239,933$ 268,716$ 188,878$ Capital Project Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Street Repair Fund 410 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Street 20XX Bushog Mower 3,500$ -$ 3,500$ Street 20XX Parking lot improvements 3,750 - 3,750 Street 20XX F-450 Truck 80,000 - - Street 20XX Parking lot improvements 3,750 - - Street 20XX Lorentz Snowblower 11,000 - - Street 20XX Parking lot improvements 3,750 - - Street 20XX Bobcat Broom 6,000 - - Street 20XX Parking lot improvements 3,750 - - Street 20XX Bobcat Plow 4,500 - - Street 20XX Street Sweeper 192,000 - - Street 20XX JD 5310 Tractor 35,000 - - Street 20XX CAT Motor Grader *175,000 - - Street 20XX Sterling Plow Truck 200,000 - - Parks 20XX JD 1435 Mower 30,000 - - Street 20XX Grapple Bucket 2,000 - - Street 20XX King Kutter Tiller 2,000 - - Street 20XX Bobcat Forks 1,000 - - Street 20XX DCT Skidloader Trailer 8,000 - - Street N/A Box Scraper 4,500 - - Street 20XX Salt Shed 40,000 40,000 - Street 20XX Replace Heat Pump 10,000 - 10,000 Street 20XX Overhead door openers 3,000 - 3,000 Street 20XX Replace Heat Pump 10,000 - - Street 20XX Walk-in Doors 5,000 - - 40,000$ 20,250$ Sample 20XX 20XX 20XX4 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ - - - - 80,000 - - - 3,750 - 11,000 - - - 3,750 - - - -6,000 - - - 3,750 - - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - - -- - 10,000 - - - - - 5,000 83,750$ 24,750$ 9,750$ 5,000$ Sample City of Sample, Minnesota Capital Improvement Plan - Street Repair Fund 410 Schedule of Projected Revenue, Expenditures and Debt 20XX 20XX 20XX Actual Estimated Estimated Revenues Property taxes -$ -$ -$ Interest on investments 1,082 883 492 Intergovernmental revenue - - Miscellaneous - - - Total Revenues 1,082 883 492 Expenditures Capital outlay - 40,000 20,250 Other Expenditures Total Expenditures - 40,000 20,250 Excess (Deficiency) of Revenues Over (Under) Expenditures 1,082 (39,117) (19,758) Other Financing Sources (Uses) Transfers in - - - Transfer out - - - Bond proceeds - - - Sale of Fixed Asset - - - Total Other Financing Sources - - - Net Change in Fund Balances 1,082 (39,117) (19,758) Cash Balances January 1 87,216 88,298 49,181 Cash Balances, December 31 88,298$ 49,181$ 29,423$ Capital Project Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 75,000$ 77,250$ 79,568$ 81,955$ 294 210 737 1,442 - - - - - - - - 75,294 77,460 80,304 83,397 83,750 24,750 9,750 5,000 83,750 24,750 9,750 5,000 (8,456) 52,710 70,554 78,397 - - - - - - - - - - - - - - - - - - - - (8,456) 52,710 70,554 78,397 29,423 20,967 73,677 144,231 20,967$ 73,677$ 144,231$ 222,628$ Capital Project Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Swimming Pool Improvements Fund 835 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Pool 20XX Pump house Stairs 1,000$ 1,000$ -$ Pool 20XX Refurbish Large Pool 70,833 70,833 - Pool 20XX Refinish Ceiling 7,500 - 7,500 Pool 20XX Refurbish Large Pool 70,833 - 70,833 Pool 20XX Epoxy Coat Large Pool 40,000 - 40,000 Pool 20XX Pump/Filter Sm pool 3,700 - - Pool 20XX Refurbish Large Pool 70,833 - - Pool 20XX Refurbish Large Pool 70,833 Pool 20XX Epoxy Coat Small Pool 2,500 - - Pool 20XX Heater Small Pool 3,500 - - Pool 20XX Refurbish Large Pool 70,833 - - Pool 20XX Refurbish Large Pool 70,833 - - 71,833$ 118,333$ Sample 20XX 20XX3 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ - - - - - - - - - - - - - - - - 3,700 - - - 70,833 - - - 70,833 - - 2,500 - - - 3,500 - - - 70,833 - - - -70,833 74,533$ 70,833$ 76,833$ 70,833$ Sample City of Sample, Minnesota Capital Improvement Plan - Swimming Pool Improvements Fund 835 Schedule of Projected Revenue, Expenditures and Debt 20XX 20XX 20XX Actual Estimated Estimated Revenues Property taxes -$ -$ 70,000$ Interest on investments - 185 - Intergovernmental revenue - -- Miscellaneous 5,724 5,896 6,073 Total Revenues 5,724 6,081 76,073 Expenditures Capital outlay - 71,833 118,333 Other Expenditures - -- Total Expenditures - 71,833 118,333 Excess (Deficiency) of Revenues Over (Under) Expenditures 5,724 (65,753) (42,261) Other Financing Sources (Uses) Transfers in - 75,000 - Transfer out - -- Bond proceeds - -- Sale of Fixed Asset - -- Total Other Financing Sources - 75,000 - Net Change in Fund Balances 5,724 9,247 (42,261) Cash Balances January 1 12,784 18,508 27,755 Cash Balances, December 31 18,508$ 27,755$ (14,505)$ Capital Project Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 72,100$ 74,263$ 76,491$ 78,786$ - - - 55 - - - - 6,255 6,442 6,636 6,835 78,355 80,705 83,127 85,675 74,533 70,833 76,833 70,833 - - - - 74,533 70,833 76,833 70,833 3,821 9,872 6,293 14,842 - - - - - - - - - - - - - - - - - - - - 3,821 9,872 6,293 14,842 (14,505) (10,684) (812) 5,481 (10,684)$ (812)$ 5,481$ 20,323$ Capital Project Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Ambulance Equipment Fund 890 Schedule of Planned Capital Outlay 20XX to 20XX (Optional) Project 20XX 20XX Accounting Estimated Estimated Department Number Item Cost Amounts Amounts No projects scheduled at this time -$ -$ -$ -$ Sample 20XX 20XX 2024 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ Sample City of Sample, Minnesota Capital Improvement Plan - Ambulance Equipment Fund 890 Schedule of Projected Revenue, Expenditures and Debt 20XX 20XX 20XX Actual Estimated Estimated Revenues Property taxes -$ 8,855$ 9,121$ Interest on investments 258 225 236 Intergovernmental revenue - - - Miscellaneous 8,704 8,965 9,234 Total Revenues 8,962 18,045 18,591 Expenditures Capital outlay - - Other Expenditures 3,007 17,000 17,510 Total Expenditures 3,007 17,000 17,510 Excess (Deficiency) of Revenues Over (Under) Expenditures 5,955 1,045 1,081 Other Financing Sources (Uses) Transfers in - - - Transfer out - - - Bond proceeds - - - Sale of Fixed Asset - - - Total Other Financing Sources - - - Net Change in Fund Balances 5,955 1,045 1,081 Cash Balances January 1 16,586 22,541 23,586 Cash Balances, December 31 22,541$ 23,586$ 24,667$ Capital Project Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 9,394$ 9,676$ 9,966$ 10,265$ 247 258 269 281 - - - - 9,511 9,796 10,090 10,393 19,152 19,730 20,326 20,940 - - - - 18,035 18,576 19,134 19,708 18,035 18,576 19,134 19,708 1,117 1,154 1,192 1,232 - - - - - - - - - - - - - - - - - - - - 1,117 1,154 1,192 1,232 24,667 25,784 26,938 28,130 25,784$ 26,938$ 28,130$ 29,362$ Capital Project Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Rural Fire Truck Fund 899 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts No projects scheduled at this time -$ -$ -$ -$ Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ Sample City of Sample, Minnesota Capital Improvement Plan - Rural Fire Truck Fund 899 Schedule of Projected Revenue, Expenditures and Debt 20XX 20XX 20XX Actual Estimated Estimated Revenues Property taxes -$ -$ -$ Interest on investments 3,225 2,709 2,943 Intergovernmental revenue - - - Charges for services 21,063 21,695 22,346 Miscellaneous - - - Total Revenues 24,288 24,404 25,288 Expenditures Capital outlay - - - Other Expenditures - 1,100 1,133 Total Expenditures - 1,100 1,133 Excess (Deficiency) of Revenues Over (Under) Expenditures 24,288 23,304 24,155 Other Financing Sources (Uses) Transfers in - - - Transfer out - - - Bond proceeds - - - Sale of Fixed Asset - - - Total Other Financing Sources - - - Net Change in Fund Balances 24,288 23,304 24,155 Cash Balances January 1 246,659 270,947 294,251 Cash Balances, December 31 270,947$ 294,251$ 318,407$ Capital Project Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated -$ -$ -$ -$ 3,184 3,434 3,694 3,963 - - - - 23,016 23,707 24,418 25,150 - - - - 26,200 27,141 28,112 29,113 - - - - 1,167 1,202 1,238 1,275 1,167 1,202 1,238 1,275 25,033 25,939 26,874 27,838 - - - - - - - - - - - - - - - - - - - - 25,033 25,939 26,874 27,838 318,407 343,440 369,379 396,252 343,440$ 369,379$ 396,252$ 424,090$ Capital Project Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Water Utility Fund 601 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Water 20XX Replace Filter Media 38,000$ -$ 38,000$ Water 20XX Replace Plant Computer System 28,000 - 28,000 Water 20XX Well #2 Maintenance 18,000 - - Water 20XX Pick-up Replacement 28,000 - - Water 20XX Roof Above Filters 10,000 - - Water 20XX Water tower repairs (inside)90,000 - - Water 20XX Dehumidifer Replacement 20,000 - - Water 20XX Replace Generator 60,000 - - Water 20XX Water main Replacement Ave W 388,000 - - Water 20XX Well #1 Replacement 100,000 - - -$ 66,000$ Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ - - - - 18,000 - - - 28,000 - - - 10,000 - - - 90,000 - - - - 20,000 - - - - 60,000 - - - 388,000 - - - -100,000 146,000$ 20,000$ 448,000$ 100,000$ Sample City of Sample, Minnesota Capital Improvement Plan - Water Utility Fund 601 Statement of Cash Flows 20XX 20XX 20XX Actual Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users 336,363$ 373,170$ 465,885$ Payments to suppliers and employees (195,782) (203,718) (211,996) Net Cash Provided (Used) by Operating Activates 140,581 169,451 253,889 Cash Flows from Noncapital Financing Activities Due from other funds Due to other funds - Transfers in - - - Transfers out (50,846) - - Net Cash Provided (Used) by Noncapital Financing Activities (50,846) - - Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (1,148,264) (1,638,361) (66,000) Assessment receivable 1,328 - - Intergovernmental revenue - - - Proceeds from bonds 1,130,044 1,656,581 - New principal and Interest paid on debt - - - Existing principal on debt (119,271) (256,831) (131,806) Existing interest on debt (5,869) (15,125) (26,944) Net Cash Provided (Used) by Capital and Related Financing Activities (142,032) (253,736) (224,749) Cash Flows From Investing Activities Investment earnings - - - Net Increase (Decrease) in Cash and Cash Equivalents (52,297) (84,284) 29,139 Cash and Cash Equivalents, January 1 (89,941) (142,238) (226,522) Cash and Cash Equivalents, December 31 (142,238)$ (226,522)$ (197,383)$ Enterprise Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 517,821$ 564,133$ 599,661$ 638,736$ (220,630) (229,637) (239,033) (248,837) 297,191 334,496 360,628 389,899 - - - - - - - (20,000) - - - (20,000) (146,000) (20,000) (448,000) (100,000) - - - - - - - - - - 600,000 - - - - (58,000) (133,272) (130,000) (131,000) (133,000) (25,453) (23,966) (22,666) (21,356) (304,724) (173,966) (1,666) (312,356) - - - 3,146 (7,533) 160,530 358,962 60,689 (197,383) (204,917) (44,386) 314,576 (204,917)$ (44,386)$ 314,576$ 375,265$ Enterprise Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Sewer Utility Fund 602 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Sewer 20XX Plant Computer 29,000$ 29,000$ -$ Sewer 20XX Digester mixers 28,000 28,000 - Sewer 20XX Sanitary sewer Replacement Ave W 344,000 - - Sewer 20XX Jetter Trailer*80,000 - - Sewer 20XX Ram Pickup 35,000 - - 57,000$ -$ Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ - - - - - - - 344,000 - - - - - - - - -$ -$ -$ 344,000$ Sample City of Sample, Minnesota Capital Improvement Plan - Sewer Utility Fund 602 Statement of Cash Flows 20XX 20XX 20XX Actual Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users 518,911$ 535,391$ 617,034$ Payments to suppliers and employees (392,044) (407,458) (423,518) Net Cash Provided (Used) by Operating Activates 126,867 127,933 193,516 Cash Flows from Noncapital Financing Activities Due from other funds 20,626 - - Due to other funds - - - Transfers in - - - Transfers out (51,247) - - Net Cash Provided (Used) by Noncapital Financing Activities (30,621) - - Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (1,130,077) (1,684,085) - Grants received 600,000 - - Special assessments 9,845 - - Proceeds from bonds 466,998 1,690,164 - Proceeds from sale of capital assts - - - New principal and Interest paid on debt - - - Existing principal on debt (205,856) (310,422) (312,961) Existing interest on debt (33,877) (35,538) (47,485) Net Cash Provided (Used) by Capital and Related Financing Activities (292,967) (339,881) (360,446) Cash Flows From Investing Activities Investment earnings 6,398 639 - Net Increase (Decrease) in Cash and Cash Equivalents (190,323) (211,310) (166,930) Cash and Cash Equivalents, January 1 254,232 63,909 (147,401) Cash and Cash Equivalents, December 31 63,909$ (147,401)$ (314,331)$ Enterprise Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 771,086$ 886,632$ 1,092,028$ 1,166,870$ (440,251) (457,687) (475,858) (494,796) 330,835 428,945 616,171 672,074 - - - - - - - - - - - - - - - - - - - - - - - (344,000) - - - - - - - - - - - 500,000 - - - - - - - - (312,854) (291,000) (295,000) (298,000) (42,890) (38,402) (35,023) (31,595) (355,744) (329,402) (330,023) (173,595) - - - 465 (24,909) 99,544 286,148 498,944 (314,331) (339,239) (239,696) 46,452 (339,239)$ (239,696)$ 46,452$ 545,396$ Enterprise Fund Projected Activity Sample City of Sample, Minnesota Capital Improvement Plan - Storm Water Fund 604 Schedule of Planned Capital Outlay 20XX to 20XX 20XX 20XX Year to Estimated Estimated Department Replace Item Cost Amounts Amounts No projects scheduled at this time -$ -$ Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts -$ -$ -$ -$ Sample City of Sample, Minnesota Capital Improvement Plan - Storm Water Fund 604 Statement of Cash Flows 20XX 20XX 20XX Actual Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users 46,982$ 63,648$ 122,515$ Payments to suppliers and employees (3,210) (3,306) (3,405) Net Cash Provided (Used) by Operating Activates 43,772 60,342 119,110 Cash Flows from Noncapital Financing Activities Due from other funds - - - Due to other funds - - - Transfers in - - - Transfers out (30,593) - - Net Cash Provided (Used) by Noncapital Financing Activities (30,593) - - Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (2,510,038) (2,940,504) - Intergovernmental revenue - 1,773,147 - Proceeds from bonds 2,645,000 3,677,395 - New principal and Interest paid on debt - - - Existing principal on debt (10,873) (2,657,233) (196,104) Existing interest on debt (47,127) (41,761) (37,837) Net Cash Provided (Used) by Capital and Related Financing Activities 76,962 (188,956) (233,941) Cash Flows From Investing Activities Investment earnings 5 - - Net Increase (Decrease) in Cash and Cash Equivalents 90,146 (128,615) (114,831) Cash and Cash Equivalents, January 1 (36,133) 54,013 (74,602) Cash and Cash Equivalents, December 31 54,013$ (74,602)$ (189,433)$ Enterprise Fund Projected Activity Sample 20XX 20XX 20XX 20XX Estimated Estimated Estimated Estimated 183,773$ 257,282$ 360,195$ 540,292$ (3,508) (3,613) (3,721) (3,833) 180,265 253,669 356,473 536,459 - - - - - - - - - - - - - - - (20,000) - - - (20,000) - - - - - - - - - - - - - - - - (194,744) (183,870) (183,870) (183,870) (35,435) (33,097) (31,258) (29,419) (230,179) (216,967) (215,128) (213,289) - - - - (49,914) 36,702 141,345 303,170 (189,433) (239,347) (202,645) (61,299) (239,347)$ (202,645)$ (61,299)$ 241,871$ Enterprise Fund Projected Activity Sample Tax Rates Tax Rates: General Fund Operations and All Funds Cash Balances General Fund Balance as a Percent of Revenue:Cash Balance by Planned Use (000's): Tax rates are a function of the levy and total tax base. The city tax rate is computed by dividing the city levy by the taxable tax capacity. Future tax rates are based on the assumption of 1.5% growth in tax capacity (see Assumptions). Comparable communities are provided for reference. The General fund fund balance should be maintained at a level to provide for adequate working capital reserves. The MN State Auditor recommends a 35- 50% reserve. As the expenditure budget grows, the required reserve should increase accordingly. The City can build to this target by adding to contingency each year. This can be accomplished by reducing expenditures and maintaining the same level of revenue or increasing tax levy. The balances represented in this graph are categorized by the planned use and/or limitations determined by statute. $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 Fund Balance Budget Target Fund Balance (35%) General Fund Balance as a Percent of Expenditures 20XX (Actual) 20XX -20XX (Estimated) 0.00% 200.00% 400.00% 600.00% 800.00% 1000.00% 1200.00% 1400.00% 1600.00% 1800.00% 2000.00% City Tax Capacity Rates 20XX (Actual) and 20XX -20XX (Estimated) General Proposed capital levies Scheduled debt levies Proposed debt levies $(1,000,000) $(500,000) $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 20XX 20XX 20XX 20XX 20XX 20XX 20XX Cash Balance by Planned Use 20XX (Actual) and 20XX -20XX (Estimated) General fund Debt service Capital projects Special revenue Enterprise Internal service 0.0% 20.0% 40.0% 60.0% 80.0% 100.0% 120.0% Tax Capacity Rates -20XX -20XX; Estimated 20XX City Sample City City 1 City 2 City 3 Sample Property Taxes by Type Debt Debt Balances This graph highlights the percent of levy by planned use. Increases in the levy are primarily attributed to the growth in scheduled and proposed debt levies as well as growth in the City's General levy. The overall city tax burden for a $78,582 house in 20XX is shown in the graph on the right. The overall property tax levy for an average valued house is highlighted above. The projected debt portfolio includes issuance of bonds for the Storm Water fund in 20XX. Other future debt projected in the plan includes issuance of bonds in 20XX to finance Sewer fund larger caital improvement projects. These contemplated projects will result in an increase to the amount of debt outstanding over the life of the Plan. Percent of Property Taxes - General Levy and Bonds Projected City Tax Impact - 20XX $78,582 home $- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 Property Taxes -General Levy, EDA, Debt Service and Capital 20XX (Actual) and 20XX -20XX (Estimated) General Special Revenue Existing Debt Proposed Debt Proposed Capital 0.00 100.00 200.00 300.00 400.00 500.00 600.00 700.00 20XX 20XX 20XX 20XX 20XX 20XX 20XX Projected City Tax Impact 20XX Actual -20XX -20XX (Estimated) $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 20XX 20XX 20XX 20XX 20XX 20XX 20XX Projected Debt Balances Based on Current Amortizations and New Debt Assumed in CIP 20XX (Actual) and 20XX -20XX (Estimated) G.O. Bonds Potential G.O. Bonds Potential G.O. Revenue Bonds G.O. Revenue Bonds Sample Page 1 of 2 ORLING’S Lake Minnetonka Landscapes, Inc. 4316 Shoreline Drive, PO Box 361, Spring Park, MN 55384 Phone (952) 471-0255 City of Spring Park ATTN: Mike Anderson 4349 Warren Avenue Spring Park, MN 55384 Proposal #05162023CIT RE: Landscape Construction Based on site measurement and inspection, we propose to furnish and install the following: Landscape Construction Initial to Accept Replace top landing with exposed aggregate ......................................................... $6,150.00 ____ Clean and seal all existing exposed aggregate staircase to front entrance ................ $3,130.00 ____ NOTE: The new exposed aggregate will not match with old concrete, but should be close. Repair all existing stucco on planter/flagpole area; including all stucco up to and around front entrance/stoop of building ..................................................... $7,800.00 ____ NOTE: If underlying block work needs to be addressed ................................................ Time & Material Pressure wash entire front of building, scrape and sand any loose flaking paint, spot prime any raw wood, patch where needed and apply two topcoats of exterior paint to dental molding, front entry door, columns, and gable window and trim, paint stucco planter box, paint stucco around the front of building and paint metal handrail down both sides of exposed aggregate staircase .................................. $8,100.00 ____ Cost Plus (if applicable) Irrigation customization/installation .................................................................. Time & Material Unforeseen costs associated with buried boulders, material, piping, irrigation etc. ................................................................................................. Time & Material Transplanting of Existing Plantings – billed as ‘time & material ……………… .......... $75/man hour Lawn Repair/Replace ....................................................................................... $12/yard This proposal reflects a job using quality materials, workmanship performed at a high standard. Complete cleanup. This proposal does not include underground irrigation customization, installation. This proposal does not include the maintenance of seed, sod and plantings in general. It is important to have a schedule in effect immediately after project completion. There is no warranty for sod or seed installation. Norling’s is not responsible for any damage to plantings/sod/seed due to lack of water, extreme weather events, or animals. This proposal does not include underground utility line relocating or added labor hours working around underground utility lines resulting in job delay. Page 2 of 2 Property owner takes responsibility for the following: (if applicable) • Acquisition of any/all governmental permits associated with installation of landscape/construction project proposed. • All costs/ fees associated with governmental permitting of landscape/construction project. • Ensuring that all work to be performed is in compliance with any and all restrictions that may apply to property. This includes, but is not limited to work performed in or near restricted set back areas, e.g. property lines, lakeshores, etc. • Ensuring that any installation or modification of hardcover is within the square footage allotted for the property. • Providing a current survey of the property if required. • All railings (if required per City code) to be homeowner’s responsibility. Further railing design available upon request. Norling’s reserves the right to bill client, per hour, for any associated time in assisting with the approval process. Sincerely, Paul Fehr ________________________ _________________ Homeowners’ Signature Date • All project deposits and invoice payments can be made either by check payable to Norling’s or via credit card, which would incur a 3% processing fee (Discover, VISA, Amex, Master Card) All pricing is subject to change due to ever-changing material availability and price fluctuations. NORLINGS | Professionally serving commercial and residential communities since 1974 CITY OF CARVER, MINNESOTA LONG TERM PLAN October 5, 2022 Prepared by Abdo Financial Solutions, LLC City of Carver, Minnesota Long Term Plan Table of Contents Page No. Introductory Section Transmittal Letter 4 Financial Section Schedule of Property Taxes Levied and Tax Rates 9 Schedule of Annual Fund Cash Balances 10 Outstanding Debt Schedule 11 Capital Improvement Plan Capital Equipment/Improvement Fund 112 and 116 Schedule of Planned Capital Outlay 12 Schedule of Projected Revenue,Expenditures and Debt 13 Park Development Fund 403 and 404 Schedule of Planned Capital Outlay 14 Schedule of Projected Revenue,Expenditures and Debt 15 Street Maintenance Fund 450 Schedule of Planned Capital Outlay 16 Schedule of Projected Revenue,Expenditures and Debt 17 Water Enterprise Fund 601 and 620 Schedule of Planned Capital Outlay 18 Statements of Cash Flows 19 Sewer Enterprise Fund 602 and 617 Schedule of Plan Capital Outlay 20 Statements of Cash Flows 21 Storm Water Enterprise Fund 419 and 604 Schedule of Planned Capital Outlay 22 Statements of Cash Flows 23 Selected Graphical Data from Projections 24 Future New Hires 26 2 INTRODUCTORY SECTION CITY OF CARVER, MINNESOTA LONG TERM PLAN 3 ; 3 Financial Abdo Solutions.com •wri%A Solutions October 5,2022 Honorable Mayor and City Council ------- City of Carver 316 Broadway,PO Box 147 Carver,Minnesota 55315 Introduction As requested by City Council,we have prepared a 2022-2027 long term plan for the City of Carver,Minnesota (the City) based on information provided by management.The plan is based assumptions below and present,to the best of management's knowledge and belief,the City's expected results of cash flows for the projection period if such uses of cash occur.Accordingly,the projection reflects management's judgment,as of the date of this projection,of the expected conditions and the City's expected course of action if such receipt and expense results were attained.The presentation is designed to provide information to the City Council concerning cash balances,tax levies,and debt balances that might be achieved if rates were adjusted and should not be considered to be a presentation of expected future results.Accordingly, this projection may not be useful for other purposes.The assumptions disclosed herein are those that management believes are significant to the projection. Furthermore,there will usually be differences between projected and actual results because events and circumstances frequently do not occur as expected and those differences may be material. The assumptions made by Management are as follows: Assumptions • Normal operating expenses will increase by a 7%inflation rate in 2023 and 3%thereafter. • The City has assumed the following positions will be added over the next 5 years. Year Position Salary/Benefits 2025 Public Services Tech II/Utilities $ 85,000 2027 Communications Specialist 77,000 Total $ 162,000 • Housing growth is assumed to be the following: 2022 2023 2024 2025 2026 New Houses 120 100 100 120 125 • Population estimates were established by City staff in August 2021 and increase by the number of new house times 3.1 people. 5201 Eden Avenue,Ste 250 Edina,MN 55436 P 952.835.9090 I,ightinrt the path.om and F 952.835.3261 4 Assumptions(Continued) • The capital plan identifies the source of funds, either bonding,grants or reserves.The General Fund tax levy is assumed to generally increase three percent plus the amount of new staffing as outlined on page 26. • Cash balance projections for debt service funds are as projected in the 2021 Debt Study dated August 8,2022. • The Enterprise Funds cash receipts increase for the housing growth projections plus the following inflation rates annually: o Water— 3% o Sewer— 3% o Storm sewer— 5%. • Fund 345 (2011 A G.O. Mills Bond)-The deferred assessments total close to $1.7 million and would be received upon development of the land. There is no set date to initiate development. Following table identifies the properties: Property ID Total Peterson $ 776,457 Lano 761,488 Oppidan 222,922 Total $ 1,760,867 • Certain debt service funds will include a levy according to the debt study dated August 8,2022. • Funds 112 and 116 Capital Equipment/ Improvement show bonding for the following projects and amounts: Year Project Amount 2024 Public Services Storage Bldg $ 1,265,000 2024 Turn out Gear Addition 462,000 2025 CSAH 40 Turnback 1,000,000 The other projects identified will be funded with existing reserves and interfund financing from the General ($30k) and Fire Funds ($17k)through transfers. ARPA funds are planned to be used for radio and pager costs in 2022. The City anticipates transferring all of the remaining Special Capital balance which is estimated to be about $360,000 in 2022.There are no other ongoing funding sources for this fund and as a result the fund projects a deficit in 2024 and estimates that the ending deficit in 2027 will be approximately$500,000.Additional transfers or equipment certificates may be needed to offset the deficit. • Funds 403 and 404 Park Development assumed park dedication fees will be$3,873,860 from 2022 to 2027.The Downtown Park project is included in the capital plan for$2.7 million and the City should be able to fund it based on estimated dedication fees. The 2022 Ironwood Park Development will need approximately$620,000 in 2022 Park Dedication funding in order to cash flow this project in this fund. • Fund 450 Street Maintenance was established to fund future pavement management costs. It will be funded with a levy of$220,000 in 2022 and increasing $100,000 a year through 2026. The annual levy will increase to fund anticipated project costs. Additionally,the City estimates that MSA funding of$255,000 should be sufficient to fund capital projects. Abdo Solo tions.com 5 Assumptions(Continued) • Funds 601 and 620-Water Funds Rate increases are assumed at 3%to finance increasing operating costs. City engineers have determined that most of the demand for the new water treatment facility is driven by new development. As a result,there was a need to increase the Water Access Charge 3%annually.The Water Access Charge is primarily paid by developers of new housing,commercial, and industrial projects.The Water Access Charge ensures that new development is paying their fair share for needed infrastructure, including the new water treatment plant. In addition,rate increases for usage are also necessary to maintain and adequate working capital balance and fund debt service. The working capital target is assumed to be 50%of planned operating expense,the following years debt service and average capital expense for the projection period. A three percent increase is sufficient to maintain an adequate working capital reserve. The plan assumes the following percentage increases for usage and connection fees to arrive at the working capital target in 2027'. 2021 2022 2023 2024 2025 2026 2027 Water rate increase 5% 3% 3% 3% 3% 3% 3% Base fee $ 11.34 $ 11.68 $ 12.03 $ 12.39 $ 12.76 $ 13.15 $ 13.54 Usage(1000s)-begin end 0 5 $ 4.54 $ 4.67 $ 4.81 $ 4.96 $ 5.11 $ 5.26 $ 5.42 5.00001 10 $ 6.24 $ 6.42 $ 6.62 $ 6.82 $ 7.02 $ 7.23 $ 7.45 10.00001 $ 9.07 $ 9.34 $ 9.62 $ 9.91 $ 10.21 $ 10.52 $ 10.83 $ S $ $ - $ $ S 2021 2022 2023 2024 2025 2026 2027 Annual increase in 190 120 100 100 120 125 125 users Connection $ 8,640 $ 8,900 $ 9,170 $ 9,450 $ 9,730 $ 10,020 $ 10,320 charges Connection revenue $ 1,641,600 $ 1,068,000 $ 917,000 $ 945,000 $ 1,167,600 $ 1,252,500 $ 1,290,000 The plan assumes that cash flow should be sufficient to fund all future capital projects except the Public Services Storage Building in 2024 and the Water Tower#3 in 2027. - AbdoSolutions.com 6 Assumptions(Continued) • Fund 602 and 617 Sewer-The plan assumes the following percentage increases for usage and connection fees. 2021 2022 2023 2024 2025 2026 2027 Rate increase 3% 3% 3% 3% 3% 3% 3% Usage fee per 1000 gal $ 7.46 $ 7.68 $ 7.91 $ 8.15 1 $ 8.39 $ 8.64 $ 8.90 Connection fee increase 3.00% 10.73% 3.00% 3.00% 3.00% 3.00% 3.00% Connection fee $ 885 $ 980 $ 1,009 $ 1,040 $ 1,071 $ 1,103 $ 1,136 The plan assumes Public Services Storage Building in 2024 and the SW Service Area Trunk Utility Extension in 2024 will be bonded. • Funds 419 and 604 Storm-No other bonding is anticipated from 2022 to 2027.The plan assumes the following percentage increases: 2021 2022 2023 2024 2025 2026 2027 3% 5% 5% 5% 5% 5% 5% Base fee per unit Residential $ 9.83 $ 10.32 $ 10.83 $ 11.38 $ 11.94 $ 12.54 $ 13.17 Multi $ 33.63 $ 35.31 $ 37.08 $ 38.93 $ 40.88 $ 42.92 $ 45.07 Commercial/Industria $ 33.63 $ 35.31 $ 37.08 $ 38.93 $ 40.88 $ 42.92 $ 45.07 AbdoSoluticns.com 7 8 NVld Nd31 ONOI ViOS3NNIW `213MVO 30 J111O N01103S-IVIONVNl3 City of Carver,Minnesota Schedule of Property Taxes Levied and Tax Rates For the Years Ended December 31,2021(Actual)and 2022 to 2027(Estimated) 2021 2022 2023 2024 2025 2026 2027 Actual Estimated Estimated Estimated Estimated Estimated Estimated _Property Taxes Levied For General Purposes Amounts Amounts Amounts Amounts Amounts Amounts Amounts 101 General Fund $ 2,007,369 $ 1839 664 $ 2,226 693 $ 2,293 494 $ 2,362 299 $ 2,433168 $ 2,506163 Property Taxes Levied For Personnel 101 General Fund - - 25,500 50000 Property Taxes Levied For Street Maintenance 101 General Fund 220,000 320,000 420000 520000 620000 620000 Property Taxes Levied For Debt Service 3" 2010A G.O.Improvement 184,102 184,273 - - - - - 345 2011 A G.O.Mills Bond 107,564 110,264 96,338 99,225 122,850 118,913 125,475 346 2013A G.O.Improvement 118,497 115,337 117,185 118,629 113,539 115,624 117,532 347 2015A G.O.Improvement 110,617 91,192 94,657 92,767 43,627 48,460 45,885 348 2015E G.O.Improvement 68,030 100,275 101,745 - - - - 349 2017A G.O.Bond 104,308 104,200 106,750 104,073 106,645 103,810 106,225 351 2018A G.O.Capital Improvement Plan Bonds 297,401 298,238 298,658 298,658 298,239 297,400 298,071 352 2019E G.0 Improvements and Equipment Certificates 215,769 217,339 187,086 188,661 184,461 185,248 187,558 354 2021 A G.O.Street Reconstruction Bonds 323,768 314,318 310,118 300,405 290,693 280,980 Subtotal 1,206,288 1,544,886 1,316,736 1,212,130 1,169 766 1,160,147 1,161,726 Property Taxes Levied For Future Debt Service 112/116 Potential Levies to Balance Projects-Capital Equipment/Improvement - - - 151,898 239,854 239,854 239,854 403/404 Potential Levies to Balance Projects-Park Development Subtotal 151,898 239,854 239854 239854 Total Taxes Levied S 3.213.657 S 3.604.550 S 3.863.429 S 4.077.522 S 4.317.418 S 4 453168 $ 4 577 742 Tax Capacity Personal and Real Estate-Carver County $ 6,802,244 $ 7,392,913 $ 9,780,265 $ 10,073,673 $ 10,375,883 $ 10,687,160 $ 11,007,774 Assumed New Growth 997,031 1,390,371 1.810,344 2,242,915 Less:Contribution to Fiscal Disparities (230,191) (396,433) (356,066 (366,748) (377,750) (389,083) (400,755) Less:Tax increment (340,628) (306,521) (348,341) (358,791) (369555) (380642) (392061) Tax Capacity Used For Local Rate 6,231,425 6,689,959 9,075,858 10,345,165 11,018,949 11,727,779 12,457,873 Add:Distribution From Fiscal Disparities 807271 809,572 482,969 497,458 512,382 527753 498514 Adjusted Net Tax Capacity $ 7.038.696 S 7.499.531 S 9.558.827 S 10.842.623 S 11.531.331 S 12 255 532 $ 12 556 387 Tax Rates General 28.21% 24.71% 21.47% 19.47% 19.10% 18.29% 18.28% Proposed levy for personnel 0.00% 0.00% 0.00% 0.00% 0.20% 0.00% 0.36% Scheduled street maintenance levy 0.00% 2.96% 3.09% 3.56% 4.16% 4.66% 4.43% Scheduled Debt Levies 16.95% 20.75% 12.70% 10.29% 9.36% 8.72% 8.31% Proposed Debt Levies 0.00% 0.00% 0.00% 1.29% 1.92% 1.80% 1.72% Proposed Capital Levies 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% Total Direct Tax Rate(Factors Fiscal Disparities Not Reflected in Tax Capacity) 45.16% 48.42% 37.25% 34.61% 34 53% 33 47% 32 74% Population 5,613 5,985 6,295 6,605 6,977 7,365 7,752 Taxes Per Capita S 573 S 602 S 614 S 617 S 619 S 605 S 591 Median Home Value(Jan 2) $ 328,500 $ 335,563 S 408,500 $ 420,755 $ 433,378 S 446,379 $ 459,770 Median Home Taxes(From City) $ 1,484 $ 1,625 $ 1,522 $ 1,456 $ 1,496 $ 1,494 $ 1,519 %Change From Prior Year$'S -7.22% 9.52% -6.35% -4.30% 2.76% -0.16% 1.66% Tax Capacity Growth Rates 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% Budget Growth Rates 8.12% -8.35% 21.04% 3.00% 3.00% 3.00% 3.00% 9 City of Carver,Minnesota Schedule of Annual Fund Cash Balances For the Years Ended December 31,2021(Actual)and 2022 to 2027(Estimated) 2021 2022 2023 2024 2025 2026 2027 Actual Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts GOVERNMENT-TYPE General Operations 101/107 General $ 2,138,767 $ 2.138,767 $ 2,138,767 $ 2,138,767 $ 2,138,767 $ 2,138,767 2,138,767 Special Revenue _ - - - * 206 ARPA Funds 262,637 * 225 Fagade Loan EDA 13,479 13,614 13,750 13,887 14,026 14,167 14,308 * 230 LCDA Grant Carver Crossing * 412 Mount Hope Cemetery 2,399 2,40 2,407 2,411 2,415 2,419 2,424 * 426 Community Events 018 528 043 56 090 620 157 * 430 Park&Ride Transit 51,018 51,528 52,043 52,564 53,090 53,620 54,157 Subtotal 330,187 68,226 68,908 69,597 70,293 70,996 71,706 Debt Service - - - - 344 2010A G.O.Improvement 138,234 181,168 38,961 345 2021C G.O.Improvement Refunding Bonds 32,227 53,045 58,283 63,783 71,033 78,095 85,720 346 2013A G.O.Improvement 211,959 195,548 188,704 181,242 166,995 197,797 232,947 347 2015A G.O.Improvement 387,668 394,174 405,461 411,225 369,265 378,330 380,861 348 2015E G.O.Improvement 331,838 357,605 387,595 317,909 317,909 317,909 317,909 349 2017A G.O.Bond 222,224 223,568 229,292 231,475 235,419 235,825 240,739 351 2018A G.O.Capital Improvement Plan Bonds 314,084 336,528 358,747 380,717 402,412 423,807 446,141 8 G.O.Bonds 380,760 1,056,611 1,052,249 1,055,968 1,052,290 1,051,697 1,050,003 352 2019 352 2019 G.O.TIF Bonds (5,050) 32,883 75,885 119,158 162,954 207,532 253,154 354 2021A G.O.Street Reconstruction Bonds 226,293 234,033 246,659 253,708 260,373 266,651 Subtotal 2,013,943 3,057,423 3,029,210 3,008,136 3,031,984 3,151,365 1,704,317 Capital Projects /116 Capital EquipmenVlmprovement 103,841 449,879 12,378 (320,384) (620,574) (744,059) (693,078) 112 * TIF Capital Mills 57,666 58,243 58,825 59,413 60,007 60,608 61,214 2/1 216 TIF#1-10 Trident 94,482 403/404 Park Development 1,310,581 20,795 315,161 1,457,850 2,048,327 2,772,458 696,263 437 2019 Street Improvements 565,604 - - 439 Jonathan Carver Parkway Improvements (196,852) - - 442 6th Street Reconstruction (105,280) - - 450 Street Maintenance 359,421 320,015 (145,785) 315,758 569,915 120.614 414,820 465 Carver Levee Project (86,631) - * Special Capital Project 794376 - (91,784) (92,702) 460 Subtotal 2,897,208 848,932 240,579 1,512,637 2,057,675 2,117,837 386,517 Total-Governmental-type Funds 7,380,105 6,113,348 5,477,464 6,729,137 7,298,719 7,478,965 4,301,306 BUSINESS-TYPE Enterprise Funds 601/620 Water 9,897,320 5,466,321 5,590,705 2,826,388 3,611,224 4,544,042 4,078, 46 601/620 Sewer 2,144,030 1,985,724 1,922,047 1,839,029 1,764,118 1,732,970 1,592,332 602/617 Sewer ter 1,691,793 1,592,394 1,443,881 1,343,603 1,313,605 1,308,806 1,477,715 Total-Business-type Funds 13,733,143 9,044,439 8,956,634 6,009,021 6,688.948 7,585,817 7,148,993 Grand Total-City $ 21,113,248 $ 15157 787 $ 14 434 098 $ 12 738158 $ 13 987 668 $ 15 064 762 S 11,450,299 * Fund is estimated to grow at an interest rate of 1%. 10 City of Carver,Minnesota Schedule of Annual Debt Balances For the Years Ended December 31,2021(Actual)and 2022 to 2027(Estimated) , 2021 2022 2023 2024 2025 2026 2027 Original Issue Maturity Interest Actual Estimated Estimated Estimated Estimated Estimated Estimated Fund Issue Issue Dab Date Rate Balance Balance Balance Balance Balance Balance Balance 344 2010A G.O.Improvement $ 2,195,000 01/04/2010 2/1/2023 1.00-3.00% $ 275,000 $ 140,000 $ - $ - $ - $ - $ 345 2021CG.O.Improvement Refunding Bonds 1.240,000 10/07/2021 2/1/2034 2.DO-5.00 1,240,000 1,190,000 1,145,000 1,095,000 1,020,000 945,000 860,000 346 2013A G.O.Improvement 1,570.000 09/03/2013 2/1/2030 0.65-3.85 850,000 740,000 635,000 525,000 410,000 335,OD0 260,000 347 201 SA G.O.Improvement 1,065,000 06/04/2015 2/1/2031 2.00-3.00 655,0100 570,OD0 485,000 395,OD0 305,OD0 260,000 210,000 348 20158 G.O.Refunding Bonds 505,000 06/04/2015 2/1/2029 2.0-4.0 210,000 140,000 70,000 - - 349 2017A G.O.Bonds 2,090,000 08/17/2017 2/1/2038 3.00-3.125 1,710,044 1,629,276 1,548,509 1,464,956 1,378,618 1,289,495 1,200,373 351 201$A G.O.Capital Improvement Plan Bonds 4,950,000 08/02/2018 2/1/2039 3.00-5.00 4.700.000 4,520,000 4,330,000 4,130,000 3,920,DOO 3,700,000 3,470,000 352 2019E G.O.Bonds 3,175,000 08/14/2019 2/1/2040 3.00-5.00 3,080,000 2,925,000 2,765,000 2,595,000 Z415,000 2,230,000 2,035,000 353 2019A G.O.Tax Increment Revenue Bonds 955,000 08/14/2019 2/1/2030 3.00-5.00 955,000 865,000 775,000 680,0D0 580,000 475,000 365,000 354 2021A G.O.Street Reconstruction Bonds 4,000,000 04/29/2021 2/1/2042 2.00-5.00 __ 4000,000 4,000,000 3,815,000 3.625,DD0 3,435000 3,245000 3,055000 Total G.O.Improvement Bonds 21,745,000 17,675,044 16,719,276 15,568,SD9 14,509,956 13,463,618 12,479,495 11,455,373 G.O.Revenue Bonds 419 2010A Storm Water Rev Ref Bonds 180,000 11/04/2010 2/1/2021 1.00-2.75 - - - - - - - 419 2013A G.O.Revenue Bonds 185.000 09/03/2013 2/1/2029 0.65-3.85 160,000 145,OD0 125,000 105,000 85,000 65,000 45,000 419 201 SA G.O.Revenue Bonds 79,050 06/04/2015 2/1/2026 2.00-3.00 40,800 33,150 25,5D0 17,850 10,200 - - 419 20158 G.O.Utility Revenue Refunding Bonds 165,000 06/18/2015 2/1/2029 2.00-4.00 65,000 45,000 25,000 - - - - 419 2017A G.O.Bonds 910,DDO 08/17/2017 2/1/2038 3.00-3.125 811,308 772,989 734,670 695,029 654,067 611,784 569,501 419 2018E G.O.Utility Revenue Bonds 1,040,000 08/02/2018 2/1/2029 3.00-5.00 885,000 790,000 690,000 590.000 480,000 365,0D0 245,000 419 20198 G.O.Utllllty Revenue Bonds 405,000 08/14/2019 2/1/2027 4.00-5.00 365,000 310,000 255,0D0 195,000 135,000 70,000 - 419 2021 B G.O.Utility Revenue Bonds 1,025,000 014/29/2021 2/1/2037 2.00-5.00 1,025,000 1,025,000 975,000 925,D00 870,DD0 815,000 755,000 601 2004 MPFA Water Revenue Note 2,522,320 03/03/2004 8/20/2023 2.82 318,000 161,000 - - - - - 601 2010A G.O.Water Revenue Refunding Bonds 350,000 11/04/2010 2/1/2022 1.00-3.00 35,000 - - - - - - 601 2012A G.O.Water Revenue Refunding Bonds 675,000 03/28/2012 2/1/2025 1.00-2.15 260,000 200,0D0 135,OOO 65,000 - - - 601 2013A G.O.Revenue Bonds 205.000 09/03/2013 2/1/2029 0.65-3.85 160,000 145,000 125,000 105,DOD 85,000 65,000 45,000 601 201 SA G.O.Revenue Bonds 18,600 06/04/2015 2/1/2026 2.00-3.00 9,600 7,800 6,000 4,200 2,400 601 2015B G.O.Utility Revenue Refunding Bonds 3,505,000 06/18/2015 2/1/2029 2.00-4.00 2,680,000 2,385,000 2,075,000 1,750,000 1,420,000 1,085,000 735,000 601 2017A G.O.Bonds 145,000 08/17/2017 2/1/2038 3.00-3.125 339,415 323,384 307,353 290,769 273,632 255,943 238,254 601 2019E G.O.Utllllty Revenue Bonds 1,015,000 08/14/2019 2/1/2035 3.00-5.00 985,000 935,000 880,000 825,OD0 765,000 700,000 635,OD0 601 20218 G.O.Water Utility Bonds 10,545,000 04/29/2021 2/1/2047 2.00-5.00 10,545.000 10,545,000 10,545,000 10,295,000 9,995,000 9,645,000 9,245,000 602 2000 MPFA Sewer Revenue Note 1,188,000 02/16/2000 8/20/2019 2.86 - - - - - - - 602 2010A G.O.Sewer Revenue Refunding Bonds 280,000 11/04/2010 2/1/2022 1.00-3.00 30,000 - - - - - - 602 2013A G.O.Revenue Bonds 280,000 09/03/2013 2/1/2029 0.65-3.85 220,000 195,000 170,000 145,000 120,000 95,000 65,000 602 201 SA G.O.Revenue Bonds 57,350 06/04/2015 2/1/2026 2.DO-3.00 29,600 24,050 18,500 12,950 7.400 602 2015E G.O.Utility Revenue Refunding Bonds 635,000 06/18/2015 2/1/2029 2.00-4.00 480,000 425,000 370,000 315,000 255,000 19S,ODD 130,000 602 2017A G.O.Bonds 275,000 08/17/2017 2/1/2038 3.00-3.125 209,235 199,353 189,470 179,247 168,683 157,778 146,874 602 2019E G.O.Utililty,Revenue Bonds 60,000 08/14/2019 2/1/2022 5.D0 30,000 - - - - - 602 2021 B G.O.Utility Revenue Bonds 460,000 04/29/2021 2/1/2037 2.00-5.00 460,000 460,000 440 000 415.000 390,000 365,000 340,000 Total G.O.Revenue Bonds 26,205,320 20,142,957 19,126,725 18,D91,492 16,930,045 15,716,383 14,490,506 13 194628 Potential Future Debt 112/116 Potential Bonds-Capital Equipment/improvement varies varies varies 3.00 - - - 1,634,145 2,484,737 2,330,847 2,172,341 403/4D4 Potential Bonds-Park Development varies varies varies 3.00 - - - - - - - 601/620 Potential Bonds-Water varies varies varies 3.00 - - - 974,338 935,546 895,590 3,220,020 602/617 Potential Bonds-Sewer varies varies varies 3.00 - - - 2,974,012 2,799,954 2,620,675 2,436,017 419/604 Potential Bonds-Stone water varies varies varies 3.00 Total Potential Debt 5,582495 6,220,237 5,847112 7,828378 Total Debt $ 37,818,001 $ 35,846,001 $ 33660001 $ 3702249 $$ 35400238 $ 32817113 $ 32478379 Debt Per Capita-total $ 6,738 $ 5,989 $ 5,347 $ 5,605 $ 5,074 $ 4,456 $ 4,190 Debt Per Capita-less assessment debt $ 3,589 $ 3,196 $ Z874 $ 3,408 $ 3,144 $ Z762 $ 2,712 11 City of Carver,Minnesota Capital Improvement Plan-Capital Equipment/Improvement Fund 112 and 116 Schedule of Planned Capital Outlay 2022 to 2027 Replacement 2021 2022 2023 2024 2025 2026 2027 Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Year Item Cost Actual Amounts Amounts Amounts Amounts Amounts Amounts Amounts General 2022 Accounting Software $ 15,000 $ $ 15,000 $ $ $ $ $ Public Services ARPA 2022 Radios 25,000 25,000 Public Services ARPA 2022 Pagers 65,000 65,000 General 2023 Accounting Software 30,000 - 30,000 Public Services 2023 PS Storage Building/Tumout Addt 54,000 54,000 General 2023 Certified Levee 75,000 75,000 Public Services 2023 3rd St.Bridge(Street) 150,000 150,000 Public Services 2023 Replace Kabota Mower 41,200 41,200 Public Services 2023 Tractor w/Plow&Blower 61,800 61,800 Public Services 2023 DNR Tanker 30,000 30,000 Public Services 2024 RTU Replacement 60,000 - 60,000 Public Services 2024 Front End Loader 169,909 169,909 Public Services Bond 2024 Public Services Storage Bldg 1,265,000 1,265,000 Public Services 2024 Add Truck to Fleet 21,630 21,630 Public Services 2024 Replacement Truck 21,630 21,630 Public Services Bond 2024 Turn out Gear Addition 462,000 462,000 Public Safety 2024 Command Vehicle#3 66,950 66,950 Public Services county/bond 2025 CSAH 40 Tumback 1,000,000 - 1,000,000 Public Services 2025 Service Truck w/Plow 35,020 35,020 Public Services 2025 Large Plow Truck 198,388 198,388 General 2025 Certified Levee 75,000 75,000 - Public Services 2026 Side x Side 15,450 - 15,450 Public Safety 2026 SCBA Compressor Station 54,636 54,636 Public Services 2026 1 Ton Truck 58,615 58,615 $ 4,644,167 $ 105,000 $ 442,000 $ 2,067,119 $ 1,308,408 $ 128,701 $ 12 City of Carver,Minnesota Capital Improvement Plan-Capital Equipment/Improvement Fund 112 and 116 Schedule of Projected Revenue,Expenditures and Debt Capital Project Fund Projected Activity Revenues 2021 2022 2023 2024 2025 2026 2027 Charges for services $ 2,228 $ - $ - $ - $ _ $ _ $ Investment earnings 96 1,038 4,499 124 (3,276) (6,393) (7,744) Miscellaneous 8477 - - - Total Revenues 10,801 1,038 4,499 124 (3,276) (6,393) (7,744) Expenditures General government - 15,000 105,000 - 75,000 - Public safety 8,289 - - 66,950 - 54,636 Public works - 90,000 337,000 2,000,169 1,233,408 74,065 Total Expenditures 8,289 105,000 442,000 2,067,119 1,308,408 128,701 Excess(Deficiency)of Revenues Over(Under)Expenditures 2,512 (103,962) (437,501) (21066995) (1311684) (135094) (7744) Other Financing(Uses)and Sources Transfers in - 450,000 Transfers out 47,000 Bond proceeds - 1,727,000 1,000,000 Sale of capital assets 9,585 - - _ _ Total Other Financing Sources 9,585 450,000 1,727,000 1,000,000 47,000 Net Change in Fund Balances 12,097 346,038 437,501( ) (339,995) (311,684) (135,094) 39,256 Cash Balances January 1 91,744 103,841 449,879 12,378 (327,617) (639,301) (774,395) Cash Balances,December 31 $ 103,841 $ 449,879 $ 12,378 $ (327,617) $ (639,301) $ (774,395) $ (735139) Debt Service Fund Related Activity 2021 2022 2023 2024 2025 2026 2027 Beginning Balance $ $ - $ $ - $ 7,233 $ 18,727 $ 30,336 Revenue Tax levy 151,898 239,854 239,854 239,854 Interest - 72 187 303 Transfers in Total Revenue 151,898 239,926 240,041 240,157 Expenditures Principal 92,855 149,408 153,890 158,506 Interest 51,810 79,024 74,542 69,926 Total Expenditures 144,665 228,432 228,432 228,432 Ending Balance $ $ $ $ 7,233 $ 18,727 $ 30,336 $ 42,061 13 City of Carver,Minnesota Capital Improvement Plan-Park Development Fund 403 and 404 Schedule of Planned Capital Outlay 2022 to 2027 2021 2022 2023 2024 2025 2026 2027 Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Replacement Year Item Cost Actual Amounts Amounts Amounts Amounts Amounts Amounts Amounts Parks Internal 2022 Ironwood Park Development $ 1,940,000 S $ 1,940,000 $ $ $ $ $ Parks Park Ded 2027 Downtown Park 2,731,818 - 2,731,818 $ 650000 $ 1,940,000 $ $ $ $ $ 2,731,818 14 City of Carver,Minnesota Capital Improvement Plan-Park Development Fund 403 and 404 Schedule of Projected Revenue,Expenditures and Debt Capital Project Fund Projected Activity Revenues 2021 2022 2023 2024 2025 2026 2027 Tax increments $ $ S $ $ $ S Park dedication 335,473 $619,710 $276,760 $1,122,140 $558,500 $686,250 $610,500 Charges for services _ - - _ Investment earnings 1,136 13,106 208 3,152 14,579 20,483 27,725 Total Revenues 336,609 632,816 276,968 1,125,292 573,079 706,733 638,225 Expenditures Current Culture and recreation maintenance - - Capital outlay Culture and recreation 56,306 1,940,000 2,731,818 Debt Service Interest and other Total Expenditures 56,306 1,940,000 2,731,818 Excess(Deficiency)of Revenues Over(Under)Expenditures 280,303 (1,307,184) 276,968 1,125,292 573,079 706,733 (2,093,593) Other Financing(Uses)and Sources Transfers in 17,398 17,398 17,398 17,398 17,398 17,398 17,398 Transfers out (650,000) - - - _ - _ Loansissued Bond proceeds - _ _ Total Other Financing Sources (632,602) 17,398 17,398 17398 17398 17398 17398 Net Change In Fund Balances (352,299) (1,289,786) 294,366 1,142,690 590,477 724,131 (Z076,195) Cash Balances January1 1,662,880 1,310,5B1 20,795 315161 1457850 2048327 2772458 Cash Balances,December31 $ 1,310,581 $ 20,795 $ 315,161 $ 1,457850 $ 2048327 $ 2772458 $ 696263 Debt Service Fund Related Activity 2021 2022 2023 2024 2025 2026 2027 Beginning Balance $ - $ - $ S $ $ $ Revenue Taxlevy Interest Transfersin Total Revenue Expenditures Principal Interest Total Expenditures Ending Balance $ $ $ $ $ $ $ 15 City of Carver,Minnesota Capital Improvement Plan-Street Maintenance-450 Schedule of Planned Capital Outlay 2022 to 2027 2021 2022 2023 2024 2025 2026 2027 Replacement Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Yew Item Cost Actual Amounts Amounts Amounts Amounts Amounts Amounts Amounts Streets 2022 Eagle Ridge $ 613,000 $ $ 613,000 $ - $ $ $ $ Streets 2023 River Oaks 447,000 - 447,000 Streets 2023 4th St W 597,000 597,000 Streets 2024 River Oaks 212,000 - - - 212,000 - - Streets 2025 Carver Bluffs 477,000 - 477,000 Streets 2025 Ironwood Or 47,000 47,000 Streets 2026 Carver Bluffs 632,000 - 632,000 Streets 2026 Mount hope Road 698,000 698,000 Streets 2027 Carver Bluffs and Spring Creek 582,000 - - 582,000 $ - $ 613000 $ 1044000 $ 212,000 $ 524,000 $ 1,330,000 $ 582,000 16 City of Carver,Minnesota Capital Improvement Plan-Street Maintenance-450 Schedule of Projected Revenue,Expenditures and Debt Capital Project Fund Projected Activity Revenues 2021 2022 2023 2024 2025 2026 2027 Tax levy $ - $ 220,000 $ 320,000 $ 420,000 $ 520,000 $ 620,000 $ 620,000 Intergovernmental-MSA Construction 2022 and on 75,570 250,000 255,000 255,000 255,000 255,000 255,000 Investment earnings 255 3,594 3,200 (1,458) 3158 5699 1206 Total Revenues 75,825 473,594 578,200 673,542 778,158 880,699 876,206 Expenditures Street Maintenance - 613,000 1,044,000 212,000 524,000 1,330,000 582,000 Public safety 1,624 - - - - - _ Public works Culture and recreation Total Expenditures 1,624 613,000 1,044,000 212,000 524,000 1,330,000 582,000 Excess(Deficiency)of Revenues Over(Under)Expenditures 74,201 (139,406) (465,800) 461,542 254158 (449301) 294206 Other Financing(Uses)and Sources Transfers in 120,000 100,000 - - - Transfer in from beginning State Aid Fund Balance Transfers out Bond proceeds Total Other Financing Sources 120,000 100,000 - - Net Change in Fund Balances 194,201 (39,406) (465,800) 461,542 254,158 (449,301) 294,206 Cash Balances January 1 165,220 359,421 320,015 (145,785) 315,758 569,915 120,614 Cash Balances,December 31 $ 359,421 $ 320,015 $ (145,785) $ 315,758 $ 569,915 $ 12.0,614 $ 414,820 17 City of Carver,Minnesota Capital Improvement Plan-Water Enterprise Fund 601 and 620 Schedule of Planned Capital Outlay 2022 to 2027 2021 2022 2023 2024 2025 2026 2027 Actual Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Priority Replacement Year Item Cost Amounts Amounts Amounts Amounts Amounts Amounts Amounts Water City 2022 Accounting software $ 10,000 $ - $ 10,000 $ - $ - $ - $ - $ Water City 2022 Oversizing 150,000 - 150,000 - - - Water City 2023 Utilities Service Truck - - Water City 2023 PS Storage Building/Tumout Addt 37,800 - - 37,800 - - - Water City 2023 Oversizing 150,000 - - 150,000 Water 2021 Bond funds 2023 Generator Well 5 3 6 240,000 - - 240,000 Water 2021 Bond funds 2023 PRV Replacements 200,000 - - 200,000 Water City 2023 Accounting software 20,000 - - 20,000 - - - Water bond 2024 Public Services Storage Bldg 1,012,000 - - - 1,012,000 - - Water City 2024 Front End Loader 19,989 - - - 19,989 - - Water City 2024 Add Truck to Fleet 6,180 - - - 6,180 - - Water City 2024 Replacement Truck 6,180 - - - 6,180 Water City 2024 Well 1 3 3 Generator/control upgrades 500,000 - - - 500,000 - Water City 2024 CSAH 40 Turbnack/PRV 60,000 - - - 60,000 - - - Water City 2024 Oversizing 150,000 - - - 150,000 - - - Water City 2024 Well 4/Tower 2 Elec control upgrades 154,500 - - - 154,500 - - Water City 2024 Tower 2 Recoating 1,248,000 - - - 1,248,000 - - Water City 2024 SW Service Area Trunk Utility Ext 1,360,000 - - - 1,360,000 Water City 2025 Smice Truck w/Plow 4,120 - - - - 4,120 - Water City 2025 River Bluff LS Fiber(Funded by Sewer) - Water City 2025 Oversizing 150,000 - - - - 150,000 - Water City 2025 Large Plow Truck 22,660 - - - - 22,660 - Water City 2026 Side x Side 10,300 - - - - - 10,300 Water City 2026 1 Ton Truck 6,695 - - - - - 6,695 Water City 2026 Oversizing 150,000 - - - - - 150,000 - Water City 2026 Well k7(Planning) 100,000 - - - - - 100,000 Water City 2027 Oversizing 150,000 - - - - - - 150,000 Water City 2027 Well#7 1,125,510 - - - - - - 1,125,510 Water City 2027 Tower Rec"Ung 337,655 - - - - - - 337,655 Water Bond 2027 Water Tower#3 2,500,000 - - - Z,500,000 $ 12,568,400 $ 160,000 $ 647,800 $ 4,516,849 $ 176,780 $ 266,995 $ 4,113,165 18 City of Carver,Minnesota Capital Improvement Plan-Water Enterprise Fund 601 and 620 Statements of Cash Flows Enterprise Fund Projected Activity 2021 2022 2023 2024 2025 2026 2027 Cash Flows from Operating Activities Receipts from customers and users $ 1,425,138 $ 1,579,433 $ 1,691,362 $ 1,806,648 $ 1,938,302 $ 2,077,134 $ 2,220,130 Other operating receipts - 10,658 10,641 11,043 11,465 1 Z008 12,608 Payments to suppliers,contractors and other governments (350,111) (360,614) (371,433) (382,576) (394,053) (405,875) (418,051) Payments to employees (304,690) (431,858) (444,814) (458,158) (471,903) (486,060) (500,642) Payments to employees(New hire projections) - - (51,000) (5Z530) (70106) Net Cash Provided(Used) by Operating Activities 770,337 797,619 885,756 976957 1032812 1144677 1,243939 Cash Flows from Noncapkal Financing Activities Transfers from other funds 146,030 - - - _ Transfers to other funds (38,974) (92,305) (41,168) (41,168) (41,110) (40,995) Cash Flows from Capital and Related Financing Activities Water access fees received 1,633,553 1,068,000 917,000 945,000 1,167,600 1,252,500 1,290,000 Special assessments received 19,668 - - _ _ _ Proceeds from bonds issued,net of issuance costs and bond premium 11,253,366 - - 1,012,000 - - 2,500,000 Principal paid on longterm debt (598,725) (629,831) (628,831) (776,046) (832,729) (830,045) (1,028259) Interest paid on long-term debt (159,378) (513,455) (415,236) (420,119) (393,221) (362,436) (403,052) Maintenance costs Acquisition of capital assets (5,214,222) (5,160,000) (647,800) (4,516,849) (176780) (266,995) (4113165) Net Cash Used by Capital and Related Financing Activities 6,934,262 (5,235,286) (774,867) (3,756013) (235129) (206977) (1754476) Cash Flows from Investing Activities Investment earnings (2,959) 98,973 54,663 55907 28264 36112 45440 Net Increase(Decrease)in Cash and Cash Equivalents 7,808,696 (4,431,000) 124,385 (2,764,317) 784,836 932,817 (465,096) Cash and Cash Equivalents,January 1 2,088,625 9,897,320 5,466 321 5,590,705 2,826,388 3,611,224 4,544,042 Cash and Cash Equivalents,December 31 $ 9,897,320 $ 5,466,321 $ 5,590,705 $ 2,826,388 $ 3,611,224 $ 4,544,042 $ 4,078,946 Cash target based on 1/2 year operating expense,average capital of$1,500,000 and 1 year debt $ 2,970,687 $ 2,940,303 $ 3.104,288 $ 3,146,316 $ 3,150,960 $ 3,403,543 $ 3,456,399 Connection Charges(Water Access Charge and Trunk)Per Unit Assumption $ 8,640 $ 8,900 $ 9,170 $ 9,450 $ 9,730 $ 10,020 $ 10,320 19 City of Carver,Minnesota Capital Improvement Plan-Sewer Enterprise Fund 602 and 617 Schedule of Planned Capital Outlay 2022 to 2027 2021 2022 2023 2024 2025 2026 2027 Actual Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Priority Replacement Year Item Cost Amounts Amounts Amounts Amounts Amounts Amounts Amounts Sewer ARPA 2022 Fiber Upgraqde to SCADA $ 40,000 S $ 40,000 $ $ $ S $ Sewer ARPA 2022 Carver Creek LS Fiber 40,000 40,000 Sewer ARPA 2022 Generators/Upgrades 182,000 182,000 Sewer City 2022 Oversizing 200,000 200,000 Sewer City 2022 Service Truck 3,090 3,090 Sewer City 2022 Utilities Service Truck 27,810 27,810 Sewer City 2022 Accounting software 10,000 10,000 - Sewer City 2023 PS Storage 16,200 - 16,200 Building/Tumout Addt Sewer Bond 2024 Public Services Storage 253,000 253,000 Bldg Sewer City 2023 Oversizing 200,000 200,000 Sewer City 2024 Front End Loader 9,995 9,995 Sewer City 2023 Accounting software 19,000 19,000 - Sewer City 2024 Add Truck to Fleet 3,090 - 3,090 Sewer City 2024 Replacement Truck 3,090 3,090 00 Sewer City 2024 Oversizing 200,000 246,350 Sewer City 2024 Oak St LS Pumps 46,350 , 0 Sewer Bond 2024 SW Service Area Trunk 2,890,000 2,890,000 Utility Ext Sewer City 2025 Service Truck w/Plow 2,060 ,0 Sewer City 2025 Oversizing 200,000 _ 2000,0000 0 Sewer City 2025 River Bluff LS Fiber 27,308 27,308 Sewer City 2025 Large Plow Truck 11,330 11,330 Sewer City 2026 1 Ton Truck 3,348 3,348 Sewer City 2026 Side x Side 5,150 5,150 Sewer City 2026 Oversizing 200,000 200,000 Sewer City 2027 Oversizing 200,000 - - - - 200,000 $ 679,175 $ 502,900 $ 235,200 $ 3,405,525 S 240,698 $ 208,498 $ 200,000 20 City of Carver,Minnesota Capital Improvement Plan-Sewer Enterprise Fund 602 and 617 Statements of Cash Flows Enterprise Fund Projected Activity Cash Flows from Operating Activities 2021 2022 2023 2024 2025 2026 2027 Receipts from customers and users $ 771,990 $ 924,959 $ 952,708 $ 981,289 $ 1,010,728 $ 1,041,050 $ 1,072,282 Other operating receipts - 7,658 8,041 8,443 8,865 9,308 9,773 Payments to suppliers,contractors and other governments (472,932) (487,120) (501,734) (516,786) (532,289) (548,258) (564,706) Payments to employees (170,456) (222,839) (229,524) (236,410) (243,502) (250,807) (258,331) Payments to employees(New hire projections) - - - (8 500) (8 755) (20 018) Net Cash Provided(Used) by Operating Activities 128,602 222,658 229,492 236,537 235,302 242,538 239,000 Cash Flows from Noncapital Financing Activities Payments received on interfund loan _ _ _ - Interfund loan issued 240,000 Transfers from other funds _ Transfers to other funds (168,706) (75,114) (23,952) (23,952) (23,919) (23,852) (23,905) Net Cash Provided(Used)by Noncapital Financing Activities 71,294 (75,114) (23,952) (23,952) (23,919) (23,852) (23,905) Cash Flows from Capital and Related Financing Activities Sewer access fees received 199,271 117,600 100,940 103,968 102,720 105,600 105,600 Special assessments received 20,183 - - - _ _ _ Proceeds from bonds issued,net of issuance costs and bond premium 522,673 3,143,000 Principal paid on long-term debt (154,751) (155,432) (115,432) (120,773) (126,114) (128,305) (130,905) Interest paid on long-term debt (33,355) (48,568) (39,381) (35,494) (31,921) (27,876) (11,373) Contribution for capital Maintenance Acquisition of capital assets (502,900) (235,200) (3,405,525) (240,698) (208,498) (328,110) ARPA funds 262,000 Withdrawals from refunding bond escrow agent _ Payment made to refunding bond escrow agent Net Cash Used by Capital and Related Financing Activities 554,021 (327,300) (289,074) (314,824) (296,013) (259,079) (364,788) Cash Flows from Investing Activities Investment earnings 1,265 21,440 19,857 19,220 9,719 9,244 9,055 Net Increase(Decrease)in Cash and Cash Equivalents 755,182 (158,316) (63,677) (83,018) (74,911) (31,149) (140,638) Cash and Cash Equivalents,January 1 1,388,858 2,144,040 1,985,724 1,922,047 1,839,029 1,764,118 1,732,970 Cash and Cash Equivalents,December 31 $ 2,144,040 $ 1,985,724 $ 1,922,047 $ 1,839,029 $ 1.764,118 $ 1,732,970 $ 1,592,332 Cash target based on 1/2 operating expense,average capital of$500,000 and 1 year debt $ 1,025,694 $ 1,009,793 $ 1,021,896 $ 1,034,632 $ 1,048,326 $ 1,046,188 $ 1,069,487 Connection Charges(Local Sewer Access Charge)Per Unit Assumption $ 885 $ 980 $ 1,009 $ 1,040 $ 1,071 $ 1,103 $ 1,136 Assumed increase in connections 190 120 100 100 120 125 21 City of Carver,Minnesota Capital Improvement Plan-Storm Water Enterprise Fund 419 and 604 Schedule of Planned Capital Outlay 2022 to 2027 2021 2022 2023 2024 2025 2026 2027 Replacement Actual Estimated Estimated Estimated Estimated Estimated Estimated Department Paid By Priority Year Item Cost Amounts Amounts Amounts Amounts Amounts Amounts Amounts Storm City 2022 Service Truck $ 3,090 $ $ 3,090 $ - $ $ $ $ Storm City 2023 Storm Water Rate Study 20,000 - 20,000 $ 1,656,652 $ 3,090 $ 20,000 $ $ $ $ 22 City of Carver,Minnesota Capital Improvement Plan-Storm Water Enterprise Fund 419 and 604 Statements of Cash Flows Enterprise Fund Projected Activity Cash Flows from Operating Activities 2021 2022 2023 2024 2025 2026 2027 Receipts from customers and users $ 230,607 $ 257,989 $ 284,759 $ 313,561 $ 347,590 $ 385,040 $ 404,292 Other operating receipts _ _ _ _ _ Payments to suppliers,contractors and other governments (107,382) (110,603) (113,922) (117,339) (120,859) (141,705) (145,956) Payments to employees (62,277) Payments to employees(New hireprojections) _ _ _ - -Net Cash Provided(Used) by Operating Activities 60,948 147,386 170,838 196,222 226,730 243,335 258,336 Cash Flows From Noncapital Financing Activities Transfers from other funds _ _ Transfers to other funds (527,398) (10,464) (10,479) (10,479) (10,464) (10,435) Net Cash Provided(Used)By Noncapital Financing Activities (527,398) (10,464) (10,479) (10,479) (10,464) (10,435) Cash Flows from Capital and Related Financing Activities Storm water area charge received 133,907 109,500 94,000 96,750 119,700 128,438 132,188 Special assessments received 938 _ _ _ _ _ _ Proceeds from bonds issued,net of issuance costs and bond premium 1,164,186 Principal paid on long-term debt (228,326) (230,969) (290,969) (302,290) (293,612) (307,483) (209,475) Interest paid on long-term debt (92,879) (128,679) (107,827) (94,919) (81,832) (68,209) (21,976) Maintenance Acquisition of capital assets (32,266) (3,090) (20,000) Payment made to refunding bond escrow agent - Net Cash Used by Capital and Related Financing Activities 945,560 (253,238) (324,796) (300,460) (255,744) (247,255) (99,264) Cash Flows from Investing Activities Investment earnings 537 16,918 15,924 14,439 9,480 9,555 9,838 Net Increase(Decrease)in Cash and Cash Equivalents 479,647 (99,398) (148,513) (100,278) (29,998) (4,800) 168,910 Cash and Cash Equivalents,January 1 1,212,146 1,691,793 1,592,394 1,443,881 1,343,603 1,313,605 1,308,806 Cash and Cash Equivalents,December 31 $ 1,691,793 $ 1,592,394 $ 1,443,881 $ 1,343,603 $ 1,313,605 $ 1,308,806 $ 1,477,715 Cash target based on 1/2 operating expense,$30,000 average capital and 1 year debt $ 406,035 $ 444,950 $ 485,756 $ 485,879 $ 465,874 $ 476,545 $ 334,429 Storm Water Area Charge Per Unit Assumption $ 3,540 $ 3,650 $ 3,760 $ 3,870 $ 3,990 $ 4,110 $ 4,230 23 Tax Rates Tax Rates-2021 and 2022 Actual, Tax Capacity Rates-2019-2022 Actual;Estimated 2023-2027 Projected 2023 —_-------------I 60.00% 50.00% I 37.25% 40.00% i 50.00% 30.00% l� 40.00% 20.00% i I I 10.00% €� 30.00% 0.00% 2021 2022 2023 2024 2025 2026 2027 �` 20.00% a 111�' 10.00% �._�__.—_■ evi - Proposed Debt Les i a Scheduled Debt Levies i 0.00% I ■Scheduled street maintenance levy Carver Dayton Victoria Waconia I a Proposed levy for personnel General_ ■2019 s 2020_w 2021 r 2022 _m 2023 Estimated I Tax Rates: —� Tax rates are a function of the levy and total tax base.The city tax rate is computed by dividing the city levy by the taxable tax capacity.The City has a goal of maintaining a consistent tax levy.Comparable communities are provided for reference. General Fund Operations and All Funds Cash Balances General Fund-Fund Balance Compared to Cash Balance by Planned Use i Budgeted Expenditures i g25,000,000 $6,000,000 ! i $20,000,000 $5,000,000 l ' f j i I $4,000,000 i I $15,000,000 E�E $3,000,000 f ! $10,000,000 ' $2,000,000 III $1,000,000 I i I $5,000,000 I , 2021 2022 2023 2024 2025 2026 2027 ¢° Special S ecial revenue limited to specific purpose T i ■Enterprise capital and working capital _ _ _ j Capital projects j Fund Balance Budget - Target Fund Balance(40%) ' ■Debt service ; — --- -- - —1 i I x General fund working capital — 1 General Fund Balance as a Percent of Expenditures: Cash Balance by Planned Use: The General fund balance should be maintained at a level to provide for The balances represented in this graph are categorized by the planned adequate working capital reserves.Typically a 40%reserve is a sufficient target use and/or limitations determined by statute. and that appears to be an adequate target for the City based on revenue and expenditure patterns.The City can build to this target by adding to contingency each year.This can be accomplished by reducing expenditures and maintaining the same level of revenue or increasing tax levy. 24 Property Taxes by Type - — Property Taxes-General Levy,Bonds and Potential Levies to Balance Projects $5,000,000 — I sr Proposed capital levies $4,000,000 j" /I _— I Proposed debt levies i � � - i ■Scheduled debt levies $3,000,000 e New Personnel ! $2,000,000 —, •Street maintenance levy $1,000,000 Le General —___� 2021 2022 2023 2024 2025 2026 2027 Property Tax by Category �- Projected City Tax Impact on an Avg Home --- --— ------------ —-----� $1,650 10096 80% 81% 43% 34% 3096 _27% 26% -25% ! $1,600 ' � I 60% Hi i $1,550 ! 40% I 1500 ! 20% $ $1,450 0% i 2021 2022 2023 2024 2025 2026 2027 j i $1,400 je General ■Street maintenance lev j I•New Personnel Scheduled debt levies I $1,350 11iH1 2022 2023 2024 2025 2026 2027 I Proposed debt levies I, ! i Percent of Property Taxes-General Levy and Bonds Projected City Tax Impact-$408,500(as of 2022)home The overall property tax levy for an average valued house is This graph highlights the percent of levy by planned use.It is notable that the highlighted above levy allocated to debt is scheduled to decrease over the life of the projection. Debt Projected Debt Balances Based on Current I' — Debt Per Capita Amortizations and New Debt Assumed in Current f $8,000 — CIP I j ---- $7,000 1 $40,000,000 j ! -- ——� I $6,000 1 $35,000,000 $30,000,000 I I I $5,000 i $25,000,000 ! $4,000 $20,000,000 I i $15,000,000 i $3,000 1 - I $10,000,000 = ! $2,000 $5,000,000 $- $1,000 1 2021 2022 2023 2024 2025 2026 2027 ! I r GO Revenue ■GO Potential Debt-Assumed based on CIP ■GO Special assessment debt Debt Balances Debt balances include all debt of the City including projected bonds to be issued. 25 City of Carver,Minnesota Future New Hires Salary/ Stormwater Total Year Position Benefits General Fund Water Fund Sewer Fund Fund 2025 Public Services Tech II/Utilities $ 85,000 $ 25,500 $ 51,000 S 8,500 $ $ 85,000 2027 Communications Specialist 77,000 50,000 16,000 11,000 77,000 Total $ 162,000 $ 75,500 $ 67,000 $ 19,500 $ - 2019 2020 2021 2022 2023 2024 2025 2026 2027 General Fund $ - $ - $ - S S S $ 25,500 $ $ 50,000 Water Fund 51,000 16,000 Sewer Fund 8,500 11,000 Stormwater Fund $ _ $ _ $ _ $ _ $ - 85,000 $ - $ 77,000 26