1k 1998 Transfers/Funds ClosingCITYOF
CHAN SEN
'0 Cig Center Ddve, PO Bvx 147
Chanhassen, Minnesota 55317
Phone 612.937.1900
General Fax 612.937.5739
~ngineering Fax 612.937.9152
'ublic Safety Fax 612.934.2524
Web www. ci. chanhassen, mn. us
TO:
FROM:
DATE:
SUB J:
Scott Botcher, City Manager
Pam Snell, Finance Directo~
June 22, 1999
1998 Fiscal Year End Transfers
City staff has completed a year end review of the financial records and has
prepared the attached Exhibit A of proposed transfers, all being completed so as
to conform with recognized financial standards. All debt service transfers are
indicated by the financial documents prepared by the City's fiscal advisor at the
time of bond issuance and included in the 1998 budget. 1995A and 1993A
transfers differ from the 1998 budget in that they were refunded in 1998 and the
exact transfer amount was unknown at the time the 1998 budget was adopted.
The $380,000 transfer from National Weather Service to McGlynn represents
the amount identified as the portion of debt service for Audubon Road the
National Weather Service Tax Increment District is responsible for.
The operating transfer from the Water & Sewer Utility Fund to the Vehicle
Equipment Fund to fund the enterprise funds' portion of equipment replacement
was approved in the 1998 budget, in addition to the transfer from the
Environmental Protection Fund to the General Fund for the Pleasant View road
overlay. The transfer from Park Acquisition and Development to Community
Parks was also approved as a part of the 1998 budget.
The $300,000 transfer from Park Acquisition and DevelOpment to Trail
Construction was reviewed by the City Council this past spring. The Council
considered eliminating certain segments of the Galpin and Powers Boulevard
trail in order to meet the $1,240,000 trail referendum budget. In lieu of doing
so, the City Council requested staff move forward with the project intact. This
fund transfer is part and parcel to that request.
Staff recommends approval of Exhibit A Proposed Transfers.
~e CiO/ofChanhassen. A ~rvwin~ cvmmunitr with cle~n lakes, quality schoo& a charming downtown, thriving businesses, and beautiful parks. A great place to live, work, and play.
~D {D
mr-
ITl
O0
O0
O0
O0
O0
O0
460
IACCOUNT
CITY OF CHANHASSEN
1998 BUDGET
TAX INCREMENT DISTRICT #1
Tax Increment District #1
1997 1997 1998
DESCRIPTION
BUDGET RE-ESTIMATE BUDGET
% 1
INC/(DEC)~
REVENUE
GENERALPROPERTYTAX
3012 TaxlncrementReceipts
* TOTAL GENERAL PROPERTY TAX
OTHER REVENUE
3801 lnterestEarnings
* TOTALOTHER REVENUE
** TOTALREVENUE
REVENUEOVER/(UNDER) EXPENDITURES
TRANSFER TO DEBT SERVICE
%1. Ref Bonds of 1994D
T.I. Ref Bonds of 1994C
G.O. Ref Bonds of 1994A
G.O. Ref Bonds of 1994B
%1. Ref Bonds 1990A
T.I. Bonds of 1991B
T.I. Bonds of 1992B
%1. Bonds of 1993A
T.I. Bonds of 1993B
%1. Ref Bonds of 1993E
T.I. Bonds of 1995A
Adjustment to debt service per Don A.
TOTAL TRANSFERS
FUND BALANCE FORWARD
LESS REQUIRED RESERVE
6,000,000 6,000,000 5,700,000 (5.0%)
6,000,000 6,000,000 5,700,000 (5.0%)
60,000 60,000 60,000 0.0%
6O,OOO 6O,OOO 6O,OOO O.O%
6,060,000 6,060,000 5,760,000 (5.0%)
4,432,456 3,840,928 4,078,082 6.2%
100,418 100,261 96,926" (3.3%)
289,167 312,293 270,705~./ (13.3%)
522,401 781,325 832,887 6.6%
500,000 573,243 473,999"' (17.3%)
183,569 273,534 183,569 / (32.9%)
279,061 349,945 348,820 -" (0.3%)
295,540 377,250 414,125" 9.8%
860,915 1,194,455 1,630,255,q. 36.5%
550,000 1,206,368 673,215/' (44.2%)
422,492 459,463 485,089 / 5.6%
635,818 848,845 970,310~ 14.3%
(2,400,000) (1,800,000) (25.0%)
4,639,381 4,076,982 4,579,900 12.3%
376,449 379,850 143,796 (62.1%)
169,524 143,796 (358,022) (349.0%)
t
I
I
I
I
I
I
I
I
TOTAL RESOURCES OVER/(UNDER) LIABILITIES
160
- #DIV/O!
1
I
I
468
CITY OF CHANHASSEN
1998 BUDGET
ECCONOMIC DEVELOPMENT DISTRICT #2
Economic Dev, District #2
t iACCOUNT
DESCRIPTION
1997
BUDGET
1997
RE-ESTIMATE
1998
BUDGET
%
INC/(DEC)
I
t
1
I
!
I
!
!
I
REVENUE
GENERAL PROPERTY TAX
3012 Tax Increment Receipts
* TOTAL GENERAL PROPERTY TAX
OTHER REVENUE
3801 InterestEarnings
* TOTAL OTHER REVENUE
** TOTAL REVENUE
REVENUE OVER/(UNDER) EXPENDITURES
FUND BALANCE FORWARD
TRANSFERS TO DEBT SERVICE
T.I. Bonds of 1988 #3
T.I. Bonds of 1991C
T.I. Bonds of 1993
T.I. Bonds of 1994
TOTAL TRANSFERS
LESS REQUIRED RESERVE
TOTAL RESOURCES OVER/(UNDER) LIABILITIES
680,000
680,000
50,000
50,000
730,000
669,700
371,488
232,313
97,659
145,435
510,688
986,095
55,093
163
680,000
680,000
50,000
50,000
730,000
443,600
443,883
235,843
214,884
225,737
255,000
931,464
(43,981)
680,000
680,000
50,000
50,000
730,000
359,700
(43,981)
225,697
104,000
329,697
(13,978)
0.0%
0.0%
0.0%
0.0%
0.0%
'(18.9%)
(109.9%)
(100.0%)
(100.0'/o)
(0.0%)
(59.2%)
(68.2%)
#DIV/0!
710
CITY OF CHANHASSEN
1998 BUDGET
ENTERPRISE FUNDS
Sanitary S & W Expansion Fnd
1997 1997 1998 % I
ACCOUNT DESCRIPTION BUDGET RE-ESTIMATE BUDGET INC/(DEC)
I
REVENUE
OTHER REVENUE
3801 Interest Earnings
3806 Connection Charges
3811 Sewer Sur-Charge
3829 Interest/Penalties
* TOTAL OTHER REVENUE
TOTAL REVENUE
EXPENDITURES
MATERIALS & SUPPLIES
4150 Maintenance Materials
* TOTAL MATERIALS & SUPPLIES
CONTRACTUAL SERVICES
4300
4340
4360
4530
4550
Fees, Services
Printing & Publishing
Subscriptions & Memberships
Repair & Maintenance-Equip
Repair & Maintenance-Utility
TOTAL CONTRACTUAL SERVICES
CAPITAL OUTLAY
4701 Land, Purchase & Improv.
4752 Outside Engineering Services
* TOTAL CAPITAL OUTLAY
DEBT SERVICE
4801 Principal
4802 Interest
* TOTAL DEBT SERVICE
TOTAL EXPENDITURES
REVENUE OVER/(UNDER) EXPENDITURES
FUND BALANCE FORWARD
BOND PROCEEDS
Bonds of 1996
TRANSFERS IN/(OUT)
Bonds of 1990
LESS REQUIRED RESERVE
TOTAL RESOURCES OVER/(UNDER) LIABILITIES
60,000 60,000 :' 60,000: 0.0%
250,000 250,000: 250,000': 0.0%
25,000 20,000 20,000 0.0%
15,000 15,000: 15,000 0.0%
350,000 345,000 345,000 0.0%
350,000 345,000 345,000 0.0%
1,000 1,000 1,000 0.0%
1,000 1,000 1,000 0.0%
125,000 140,000 50,000 (64.3%)
700 700 700 0.0%
400 400 400 0.0%
10,000 10,000 12,000 20.0%
70,000 70,000 95,000 35.7%
206,100 221,100 158,100 (28.5%)
180,000 180,000 50,000 (72.2%)
300,000 45,000 45,000 0.0%
480,000 225,000 95,000 (57.8%)
120,000 120,000 255,000 112.5%
56,650 56,650 45,723 (19.3%)
176,650 176,650 300,723 70.2%
863,750 623,750 554,823 (11.1%)
(513,750) (278,750) (209,823) (24.7%)
1,250,133 1,559,426 1,245,676 (20.1%)
(35,000) (35,000) (35,000)
701,383 1,245,676 1,000,853
141
#DIV/0!
0.0%
(19.7%)
#DIV/0!
211
CITY OF CHANHASSEN
1998 BUDGET
SPECIAL REVENUE FUNDS
Environmental Protection Fund
iACCOUNT
DESCRIPTION
1997
BUDGET
1997
RE-ESTIMATE
1998
BUDGET
INC/(DEC)
Il
II
Il
!1
REVENUE
GENERAL PROPERTY TAX
3010 Current Property Tax
* TOTAL GENERAL PROPERTY TAX
INTERGOVERNMENTAL REVENUE
3520 Grants, County
* TOTAL INTERGOVERNMENTAL REV
CHARGESFOR CURRENTSERVICES
3650 SalesofRecyclables
* TOTALCURRENTSERVICES
OTHER REVENUE
3801 InterestEarnings
* TOTALOTHER REVENUE
!1
** TOTAL REVENUE
REVENUE OVER/(UNDER) EXPENDITURES
FUND BALANCE FORWARD
TRANSFERS IN/(OUT)
LESS REQUIRED RESERVE
TOTAL RESOURCES OVER/(UNDER) LIABILITIES
80,000
80,000
15,000
15,000
2,000
2,000
21,000
21,000
118,000
(5,150)
524,148
518,998
80,000
80,000
15,000
15,000
4,500
4,500
21,000
21,000
120,500
19,445
561,527
580,972
80,000
80,000
15,000
15,000
2,000
2,000
24,000
24,000
121,000
(20,930)
580,972
(65,000)
495,042
0.0%
0.0%
0.0%
0.0%
(55.6%)
(55.6%)
14.3%
14.3%
0.4%
(207.6%)
3.5%
#DIV/0!
(14.8%)
#DIV/O[
113
7OO
S & W Utility Fund
CITY OF CHANHASSEN
1998 BUDGET
ENTERPRISE FUNDS
I
iACCOUNT DESCRIPTION
1997 1997 1998
BUDGET RE-ESTIMATE BUDGET
INC/(DEC)
REVENUE
PERMITS
3315 Sewer Permit
3321 Water Permit
* TOTAL PERMITS
4,000 3,500 3,500
4,000 3,500 3,500
8,000 7,000 7,000
0.0%
0.0%
0.0%
CHARGES FOR CURRENT SERVICES
3660
3661
3662
3663
3664
3665
3667
Sewer Customers
Water Customers
Utility Penalties
Customer Service
Sales of Meters & Parts
Hydrant Rental or Repair
Certification Fee
TOTAL CURRENT SERVICES
1,182,000 1,182,000 1,225,000
771,000 960,000 995,000
35,000 35,000 35,000
1,000 1,000 1,000
40,000 40,000 40,000
100
4,000 4,000 4,000
2,033,100 2,222,000 2,300,000
3.6%
3.6%
0.0%
0.0%
0.0%
#DIV/0!
0.0%
3.5%
OTHER REVENUE
3801 InterestEarnings
3829 InteresVPenalties
* TOTALOTHER REVENUE
80,000 80,000 82,500 3.1%
1,000 1,000 1,000 0.0%
81,000 81,000 83,500 3.1%
** TOTAL REVENUE
2,122,100 2,310,000 2,390,500
3.5%
REVENUE OVER/(UNDER) EXPENDITURES
FUND BALANCE FORWARD
TRANSFERIN/(OUT)
LESS REQUIRED RESERVE
26,700 185,000 91,000
1,704,313 2,030,401 2,155,401
(60,0O0) (60,000) (65,000)
1',671,013 2,155,401 2,181,401
(50.8%)
6.2%
8.3%
1.2%
TOTAL RESOURCES OVER/(UNDER) LIABILITIES
- #DIV/O!
129
CITY OF CHANHASSEN
1998 BUDGET
Commentary
Capital Project Fund
Park/Trailways Acquisition & Development
General Comment: Park and trail fees (charges established on new construc'tion) are receipted
into this fund. Many major park and trail improvements become a budgeted expense of this fund
(Note: To insure multi-year accountability for individual projects, a separate fund is typically
established to account for the assets/liabilities of that project, i.e. Lake Ann Boat Access. All of
the revenues/expenses associated with the project thereby become easier to monitor - with final
balances being "transferred" back to this fund). As such, this fund represents the master fund
reflecting current and future obligations for major park and trail projects, as well as minor park and
trail improvements within our community. An annual and five year park/trailways acquisition and
development capital improvement program is maintained by the City's Park and Recreation
Commission. All capital improvement projects are approved by the City Council.
Expenditures:
4010 Personal Services:
Park and Recreation Director
1997 1998
20% 20%
430O
Fees, Service:
Professional services associated with the development of city
parks and trails.
Tree moving
Appraisals and consulting services associ~.ted with "park"
referendum.
$25,000 $25,000
2,000
15,000
43O2
Fees, Legal:
Legal services associated with the development of city parks
and trails.
Legal services associated with "park" referendum,
3,000 4,000
4,000
4340
Printing & Publishing associated with "park" referendum,
miscellaneous documents.
8,000 1,000
4701
Carver Beach Shoreline Restoration and Trail
TC & W Railroad Trail Underpass Restoration
Recreation Center Parking
Lake Ann Park Contingency
Round House Park, Phase Il Development
Bandimere Community Park
Ch'anhassen Estates Park Parking Improvements
Kerber Pond Park Signage
Chanhassen Recreation Center Irrigation
City Center Park
Lake Ann Contingency
12,000
25,000
50,000
5,000
50,000
142,000
$100,000
12,000
2,000
80,000
100,000
5,000
$299,OOO
122
CITY OF CHANHASSEN
CARVER AND HENNEPIN COUNTIES, MINNESOTA
DATE: June 28~ 1999
RESOLUTION NO:
MOTION BY:
SECONDED BY:
A RESOLUTION APPROVING YEAR END TRANSFERS AND CLOSINGS
WHEREAS, City staff has completed a year end review of the financial records of the City
of Chanhassen and has prepared the attached Exhibit A of the proposed fund closings, transfers,
budget adjustments, etc., all being completed so as to conform with recognized financial standards;
and
WHEREAS, the City Council has reviewed the attached exhibit and finds that such
conforms to the general policies of the City.
NOW, THEREFORE, BE IT RESOLVED by the Chanhassen City Council that the
attached Exhibit A is. hereby approved.
Passed and adopted by the Chanhassen City Council this 28th day of June, 1999.
ATTEST:
Scott Botcher, City Clerk/Manager
Nancy K. Mancino, Mayor
YES N.O
ABSENT