06/02/2011 - City Council Finance CommitteeFINANCE COMMITTEE MEETING
JUNE 2, 2011
12:00 -2:00 P.M.
CITY HALL CONFERENCE ROOMS 2A & 2B
AGENDA
I. AGENDA ADOPTION
II. BROADBAND FIBER EXTENSION PLAN & PHASING
III. FUND STATUS TRANSFER SCENARIO FOR CONSIDERATION
IV. OTHER BUSINESS
V. ADJOURNMENT
City of Eaftafl MeMo
TO: FINANCE COMMITTEE
FROM: CITY ADMINISTRATOR HEDGES
DATE: MAY 27, 2011
SUBJECT: FINANCE COMMITTEE MEETING / THURSDAY, JUNE 2, 12 -2 PM
A Finance Committee meeting is scheduled for Thursday, June 2 from 12 -2 p.m. in Conference
Room 2A &B. Also, as a reminder, in keeping with past practice, no plans are being made to
provide lunch on the 2 11d so if you could, please plan to eat before the meeting or bring a "brown
bag" lunch.
The purpose of the June 2 Finance Committee is to discuss plans and phasing options for
broadband fiber as well as consider a scenario for fund status transfer(s). While earlier policy and
conceptual commitment was given to the broadband initiatives recommended by consultant
Andrew Cohill, staff want to make sure the Committee is comfortable with the phasing and
financial pro forma/return before seeking Council authorization for an RFP to install the first
phase.
At the direction of the Finance Committee, staff has also continued to research and prepare
information regarding the current status of all City funds (accounting entities) in the context of
current and potential future needs. This review has been undertaken to result in a strategic
realignment of existing City resources to be approved by the City Council as part of the City's
overall financial planning. Included in the background material and provided as a basis for
discussion is one scenario that seeks to address the Finance Committee's priorities.
Please feel free to contact me if you have any questions in advance of the June 2 Finance
Committee.
/s /Thomas L. Hedges
City Administrator
J,
Agenda Information Memo
Finance Committee Meeting
June 2,2011
ACTION TO BE CONSIDERED:
• Determine parameters of proposed phasing of City fiber extension,
and associated costs /expected return on investment for creation of open access
fiber routes for business use.
• Recommend action by the full City Council to authorize preparation of RFPs
to determine precise pricing for Year One objectives.
FACTS:
II. BROADBAND FIBER EXTENSION PLAN & PHASING
• On November 9, 2010 the Finance Committee heard a presentation of the Tech
Working Group's recommendations and consultant's findings relative to
broadband strategies in furtherance of the City Councils technology goals.
• Mr. Andrew Cohill discussed a twin strategy of seeking to attract a state of the art
colocation facility to position Eagan as a telecommunications hub for multiple
providers while at the same time extending City fiber and duct to business
locations in the city for open access use by any provider offering
telecommunications services to Eagan businesses.
• For the two projects, Mr. Cohill discussed City involvement of between $1 -3
million, but also revenue generation. The Finance Committee indicated comfort
with at least $2 million toward the two projects and directed staff to recommend
the best possible source of funding.
• Mr. Cohill is back with parameters regarding the fiber extension piece only. A
separate contract is underway with a team led by Five 9s Digital regarding
colocation site selection and business case analysis.
• Due to scheduling conflicts, it was not possible for consultant Cohill and Director
of Administrative Services Van Overbeke to meet to review proposed financials
until June 1. They will be bringing recommended year one and out year
funding and phasing to the June 2 Finance Committee meeting for the
committee's review.
• Specifically Mr. Cohill will review the suggested first year budget items, amounts,
and procurement schedule. He will also briefly review likely second and third
year procurement amounts and schedule.
• On January 4, 2011, the City Council accepted the 2010 broadband report,
passed a resolution in support of both an Eagan colocation facility and open
3
access fiber extension. It also ratified its direction at the December 14, 2010 work
session to pursue five strategies in pursuit of the two tactics in support of its goal
to:
Ensure the economic competitiveness of Eagan's business and residential
communities in the global marketplace by anticipating and addressing the
evolving "infostructure" bandwidth, capacity and speed needs of Eagan's
residents, businesses and employers.
• The City Council concluded in its resolution passed in January that "the
placement and construction of a colocation facility /data center and the installation
and extension of City -owned fiber infrastructure are in the public interest and
necessity as critical infrastructure."
• Regarding the colocation portion of the strategy, significant progress is being
made and it is anticipated that recommendations regarding that piece will come
back to the City Council /Finance Committee in September.
Attachments:
➢ Enclosed on pages 5 and are the November 9, 2010 Finance
Committee Meeting Notes pertaining to the Tech Working Group
Recommendations /Consultant's Findings.
Finance Committee Meeting Notes
November 9, 2010
Page 2
Upon reviewing the various payment options, it was the recommendation of the Finance
Committee to pursue direct payments from the overpass and interchange component of the
annual major street tax levy (essentially paying cash from current balances and future tax levies).
Public Works Director Colbert noted that there are no special assessments proposed with
the overpass and, thus, there will be no typical feasibility report public hearing process
associated with the project. However, the Council will be considering the approval of plans and
specifications in December for a bid solicitation in early 2011.
IV. TECH WORKING GROUP
RECOMMENDATIONS /CONSULTANT'S FINDINGS
City Administrator Hedges and Director of Communications Garrison provided an
overview of the Eagan Technology Working Group's recommendations. Mr. Garrison
introduced Andrew Cohill, Design Nine Consultant, who joined the conversation via conference
call. Mr. Cohill summarized his observations and proposed goals and recommendations for the
Committee's consideration.
The Committee discussed the feasibility for a colocation facility in Eagan. Mr. Cohill
noted the cost to extend the needed southern fiber could be approximately $1 million. Cohill
also noted that it would be doable to proceed with the colocation facility and the fiber extensions
at the same time, suggesting that four to six months would be realistic to get a commitment to
build a colocation facility. Mr. Cohill suggested a timeline of nine to twelve months to build the
facility. Mr. Cohill suggested the total anticipated investment for the project would be between
$1.5 and $3 million, noting that there would be an opportunity for revenue generation as well.
Mr. Cohill added that if the City proceeds with directing a colocation facility, the first step
should be to send letters to current providers such as Qwest to invite them onto the network,
emphasizing the opportunity to retain existing customers while attracting new customers.
The Committee reviewed possible funding sources for the City's monetary contribution
to the project, including the use of revenues from the antennae leases. The Director of
Administrative Services was asked to report back recommended funding sources for this project
as a result of an overall review of city funds.
The Finance Committee made the following five recommendations to be forwarded to the
City Council for their earliest consideration in December:
1. Authorize pursuit of a private colocation facility on City land big enough to support a
future meet point as a key strategy to keep and grow jobs in Eagan;
2. Make a clear policy commitment to extend public purpose City duct and fiber to
business, parks and commercial areas over the next 3 -5 years to create an open access
fiber ring connected to the colocation facility that can be used by any carrier. Commit at
least $2 million in City funds to accomplish these connection and begin with the focus of
where the right -of -way is already crowded.
5
Finance Committee Meeting Notes
November 9, 2010
Page 3
3. Make a clear policy commitment to ensuring southern fiber routes out of Eagan.
4. Authorize preparation without delay of a well- designed package of economic
development and financial incentives for a qualified firm interested in the City's vision to
have a modern energy efficient data center and common meet point. The City package of
incentives would include the commitment to invest in fiber to most commercial areas of
the City, financial support for a southern route, assistance with land acquisition, City data
on business locations and fiber routes, and in partnership with the Technology Working
Group, introductions to local companies that may wish to lease space in such a facility.
5. As marketing assistance may be necessary, work with the City Attorney and the Tech
Working Group to define a process to select a vendor to work with service providers and
long haul carriers to establish routes and common meet point, identify and meet with
prospects, and develop marketing package and materials.
6
Agenda Information Memo
Finance Committee Meeting
June 2,2011
III. FUND STATUS TRANSFER SCENARIO FOR CONSIDERATION
ACTION TO BE CONSIDERED:
To provide direction to staff regarding the potential reallocation of resources
among the various City funds.
FACTS:
• At the March 8, 2011 Finance Committee Meeting Director of
Administrative Services VanOverbeke provided an overview of City funds,
which the Committee discussed.
• Within the material presented and in the discussion it was noted that the
following funds have available resources that could potentially be
redirected by the City Council:
o Housing
o Cable TV Franchise Fees
o Community Investment
o Utility Trunk Funds
• Storm Sewer Trunk
• Water Trunk
• Sanitary Sewer Trunk
o Benefit Accrual
o Risk Management
o Workers' Compensation Self Insurance
• Although not included in previous discussion, the City's General Fund
balance will also have resources available resulting from 2010 operations.
An improvement on the revenue side combined with continuing tight
expenditure budgeting and controls, resulted in a significant increase to
the fund balance at December 31, 2010. Consequently, some dollars
from that source are included in the resource reallocation being
presented.
• Also noted as having available resources were the following restricted
accounts within the Public Utilities Fund:
o Water System Bonds and Debt Service
o Antennae Lease Revenue
ri
• It is expected that the Allowance for Uncollectible Taxes first levied for
payable 2011 will have an available balance at some point, but it is too
early to project any available balance. Therefore, no use of that potential
balance is included in the resource reallocation being presented.
• Within the material presented and in the discussion in March it was noted
that the following funds have potential resource needs:
o Park Systems Development and Renewal & Replacement
o Fire Safety Campus
o Cedar Grove TIF
o New Combined Utility Trunk
o Fiber Infrastructure
• Also noted as having potential resource needs was the following restricted
account within the Public Utilities Fund:
o Storm Drainage Renewal & Replacement
• In response to the public policy questions presented at the meeting the
Committee directed staff to specifically address the following priorities
without an increase to the City's existing tax levy:
1. Managing the Cedar Grove TIF deficit and carrying costs
2. Funding the Fiber Project
3. Funding the Fire Safety Center
4. Providing additional resources for the Park System
• The Committee asked for more detail on the assumptions being used in
recommending transfers, various transfer options and potential
consequences of making fund transfers.
• Enclosed on page 1 t is a copy of one possible scenario assembled
by staff that addresses the above referenced priorities. The material is
highly summarized and there is a great deal of support documentation
regarding each of the funds that is not presented with this summary, but
can be provided and /or used if the finance committee desires more
details. Various other options could be derived from this scenario and the
discussion will likely surface a more thorough understanding of options
and consequences.
• The over arching objective of any scenario is to provide for a strategic
realignment of existing City resources with current and future obligations
as part of the City's overall financial planning. In proposing, approving,
and implementing the plan the following risks /factors should be given
consideration:
2
o The pressure on revenues, especially property taxes combined with
service demands will continue to increase the scrutiny on
operations and on cash balances.
o Minimal growth and aging infrastructure will compound the tension
among available revenues, expenditure appropriations, and use of
cash balances.
o Any desire /impulse to maintain or increase service levels through
the use of reserves or one time fixes is clearly problematic.
o The use of available resources to address today's challenges will
logically limit options for addressing future obligations. The
challenge is to ensure that viable options exist to address future
obligations with today's larger cash reserves no longer being
available.
o Viable future options may include the following:
• Continued use of the General fund balance as reserves
become available.
• Bonding for infrastructure renewal and replacement with the
largest potential impact in utilities. Bonding will roll the cost
impact forward and would likely necessitate some user rate
increases.
• Continued use of the Community Investment Fund for
smaller, one -time capital improvements.
• Any catastrophic events primarily in workers compensation
and /or self insurance may require some internal borrowing
and the development of a plan to return to strong financial
footing. This probability is fairly low.
• The Trunk Fund advances to the Cedar Grove TIF need to
be structured in a manner such that if tax increment is
generated helping to solve the deficit and carrying costs over
time, the Trunk Fund money can come back out and be
redirected by the City Council as part of a revised /updated
strategic financial plan. This will not likely be a short term
possibility, but there is a chance that additional funds would
be available in the future when development progresses and
especially, if the TIF district can be extended.
o The scenario as presented provides for today's resource needs
with the exception of trying to finance the TINA construction. In the
event the City Council desires that today's available resources
address TINA and /or any other desired or contemplated
construction, program or service, modifications will be necessary.
o In no particular order and with no degree of certainty some of the
potential future obligations /desires that appear to be out there
include the following:
• Financing the TINA construction. The possible scenario
presented in this memo actually reduces the amount of
money available to the Major Street Fund by reallocating
R
$400,000 of the existing Overpasses & Interchanges levy to
the Park Systems Development and Renewal &
Replacement Fund. The levy left behind after the $400,000
reallocation will be used to pay the bonding and construction
costs for the two overpasses. There may be some desire to
treat the Overpasses and Interchanges levy differently either
to use it to help finance the TINA construction or to make
some or all of it available to the needs of the Major Street
Fund CIP not related to overpasses and interchanges.
Absent the proposed reallocation, it will be difficult to
address a new Park Systems levy without an overall levy
increase or creating an adverse impact to operations or to
other capital requirements.
■ Financing for replacement of the joint fire training facility
(ABLE). The preliminary estimate is $500,000 each for the
four cities for phase 1.
• Financing for any type of enhanced Art House or Performing
Arts venue.
• Financing for any type of City housing revitalization loan or
grant program.
• Financing assistance for any CDA initiatives to be
constructed in the City.
■ Potential debt service relief to Cascade Bay.
ATTACHMENTS:
• Enclosed on pages /a and ) is a copy of the notes from the
March 8, 2011 Finance Committee Meeting.
• Enclosed on pages /5 through cam/1 is a copy of the memo from
Director of Administrative Services VanOverbeke providing information
regarding the financial status of the various City funds as of December 31,
2010.
PUBLIC POLICY DISCUSSION OUTCOMES:
1. Does the scenario presented meet the Finance Committee priorities with
or without modification?
2. What are the next steps:
i. Additional scenarios and /or more information to the Finance
Committee
ii. Discussion at a City Council Workshop
iii. Consent Agenda item at a Regular City Council Meeting
1D
17- May -11
i
300,000
E8Z' 60£'62 I -
All additional connection charges related to treatment plant construction (1124) are to be deposited into the Water Supply & Storage account (1123).
Trunk Fundi Fiber Capacity',
8,365,000 17,250,000 3,386,283 j 300,000
J 000'09n
Fire Safety
23,216
365,000
31- Dec -10 ! Transferred ! Remaining
Balance
392,374
6,224,561 6,224,561
13,267,545 1,500,000
2,392,374 2,000,000
E8Z` 60£`6Z
2,273,216
4,938,239
1,836,405
Avai
'Fund Name
j 6uisnoHij
(Risk Management _ 1
(General (Fund Balance)
(Community Investment
1
Storm Water Trunk
LWater Trunk
(Sanitary Sewer Trunk
1
( Total Trunk Funds[
Cable TV Franchise Fees
FINANCE COMMITTEE MEETING NOTES
MARCH 8, 2011
12:00 — 2:00 PM
CONFERENCE ROOMS 2A &B
Committee members present: Mayor Maguire and Councilmember Bakken
City staff present: City Administrator Hedges, Assistant to the City Administrator Miller,
Director of Administrative Services VanOverbeke, Public Works Director Colbert, Community
Development Director Hohenstein, and Finance Intern Pratt.
I. FUND STATUS UPDATE —CITY WIDE AND CEDAR GROVE TIF FUND STATUS
Director of Administrative Services VanOverbeke provided an overview of City funds,
which the committee discussed. The discussion was further focused on the funds with available
resources and the four funds that were noted as needing assistance: 1.) Park Site Acquisition and
Development; 2.) Cedar Grove TIF; 3.) Fire Safety Campus; and, 4.) Fiber Conduit Ring.
funds:
The committee offered the following direction and recommendations on each of the
Park Site Acquisition and Development Fund (To be renamed the Park Systems Development
and Renewal & Replacement Fund)— According to the Committee, this fund is an immediate
need that will likely need funding via a levy. The committee stated that it would be their desire to
consider redirecting an existing levy (e.g. Major Street Fund (Overpasses & Interchanges
Funding)), if possible, but would suggest that all future options be kept open. The committee
asked for additional information on the balance of the Overpasses & Interchanges account once it
is determined how much funding is needed to complete the two overpasses, taking into account
the future cash flows.
Fire Safety Campus —The committee recommended that the Fire Safety Campus be kept off the
levy by using internal transfers. A possibility for further research includes transfers from the
Benefit Accrual, Risk Management, and Worker's Compensation Self Insurance Funds to pay for
the Campus. The committee asked that staff come back with additional information about the
impact to the funds should such transfers be made.
Fiber Conduit Ring Fund —The committee concurred with staff's suggestion to rename the
Fiber Conduit Ring Fund as the Fiber Infrastructure (for Fiber Capacity and Collocation) Fund.
The committee also concurred with the suggestion that this fund could serve as an enterprise
fund with a revenue stream in the future. There was committee consensus to explore the use of
antennae lease revenues and Cable TV Franchise Fees to fund the Fiber Infrastructure Fund. The
committee noted that they wanted to ensure that funding from the antennae lease revenues to
Holz Farm and the Eagan Community Center would not be negatively impacted.
FINANCE COMMITTEE MEETING NOTES
JUNE 2, 2011
12:00 PM
CONFERENCE ROOMS 2A&B
Committee members present: Mayor Maguire and Councilmember Bakken
City staff present: City Administrator Hedges, Assistant to the City Administrator Miller, Director
of Administrative Services VanOverbeke, Community Development Director Hohenstein, Chief Financial
Officer Pepper, and Communications Director Garrison.
Guests present: Andrew Cohill and Sid Boswell, consultants with Design Nine
I. BROADBAND FIBER EXTENSION PLAN AND PHASING
City Administrator Hedges introduced the item, noting the purpose of today's discussion is to
determine the parameters of the proposed phasing of City fiber extension, and the associated
costs/expected return on -investment for the creation of open access fiber routes for business use.
Hedges noted that staff is also seeking a recommendation from the Committee as to whether the
Council should authorize preparation of RFPs to determine precise pricing for year -one objectives.
Communications Director Garrison introduced Consultants Andrew Cohill and Sid Boswell from
Design Nine, who reviewed a City fiber map with the committee. It was noted that a connection fee of
approximately $500 would be proposed to be paid by the provider or customer. Mr. Cohill noted that
ongoing marketing, branding, and public awareness campaigns would be necessary for the success of
the project.
The Committee reviewed the financial summary proposed for the fiber extension. City
Administrator Hedges pointed out the modest staffing within support services that would be needed
for the program, but acknowledged that the City would need to be very cautious not to overstaff the
program.
The Committee discussed an exit strategy should the fiber extension project not meet the
expectations of the City. Mr. Cohill noted that the city would be in the position to sell the fiber
network and suggested that the City would likely be able to recoup its initial investment. The
Committee also discussed future opportunities to extend fiber to different markets in the community.
Upon further discussion, the Finance Committee voiced their consensus that they are comfortable
with the proposed approach and financing of the fiber extension. The Committee recommended a
funding allocation of up to $2 million to get through the fourth year of the project. The Committee
also made a recommendation that the City Council take formal action to authorize preparation of
RFPs to determine precise pricing for year one objectives. The Committee recommended that the City
Council receive an overview on the fiber extension being proposed at the June 14 City Council
workshop, with formal action to follow at the June 21 regular City Council meeting.
'vp�:
"o;;
O t
.'
In
o
'.
LL7
c0
In
O
d'
r
d'
O
'd'
r
.1
In
O
r
d'
Ln
p
M ..
c7 'O
h,
(D co X17/
h
to
h
M
CD
h
ED
m �
In
O
r
M
to
O
r
M
h
cD
Et m
cD
r
A
h
y
CN
m
02-
M
O
+.
o o Y
m
Y
y
O m
c
m
.2
Q
N L Co
E
c4
.N m
ayi O c' y
m
° N
m
L L
m m
UG,)
y
O
�a y ,C
N V N C
'�
N
N N C
'�
y
y � N y m m
m N
V U
N c
c 0
d o
c
Q1 m m -Q d
CD
URI
V
yni
Nm m
y
G .N m
y
Q c11 N M cV 16
N N
[0 y
L
0. m
e
7
E E
7 N
m m E
'.7
m
y
E
m
d Q m ro
Y C C (D N
Q m
L L C
O
L t"
m
Rf m
m
�O .—. 7
'D
w
m („" __
'O
m
s m
_
'6
m
.
O 's
o.
O
y N
E m
m y m
m E °'
m,
m o
m
M
O
u, E m
o
o
0
J GD cn
00
Z cn 2
o
C
O
O
O
h
cD
O
CO
m
co
't
m
M
O
CD
r
h
"mo
N
ice;
{'i:
ST
a'oi
CD
N,...
In -i'S.'
cD
O
LD
Lo
O
m
cb
O
m
m
In
0
c0
m
� '
fn
O
sa"s
N o
LO3D.�
'�
N
f!'1
N
r
cD
'ch
NN
LO
It
h
N
N
d'
h
N
N
0
m
r
N
con'
t:=of
O
Lo
O
In
m
O
m
m
CD
O
>: }
O
V'
(.C)h
M
0
V'
N
MCO
cD
N
N
cD
N
O
In
T
cD
._?..
m
r
sem,:
F2l
:Y§i;
�`Yi..
iu
4v`r
Cys?
;.
ED 0
'.jam
p
M
In
cD
m
0
h
D)
O
h
cD
O
m
CO
Cl)ate'
j
M
'r
o._'
''
M
(D
O
Cl)
CO
N
1.n
r
c0
N
cD
r
C+)
Cl)
in
cD
c0
pip
co
M
c'f)
M
coo
C:)
M
[O
'd'
'd'
CO
'C
d'
M
CD
�t
m
M
h
In
�
<Y
h
r
T
h
to
v
h,
cu
! o:
o
"c1
co
co
co
cD
M
N
r
M
N
T
(D
M
O
M
cD
N
T
r
ED
c0
r
h
M
r
h
M
r
fn
r
co
f; o:
O
.tomo-
'a:
O`
Ln
'" n;
O
fn
0
cD
0
N
0
fn
O
N
M
N
a0
O
N
co
N
co
O
10
m
a'
m
co
O
cD
O
tD
.stn,
r fc?�O'
T
T
T
T
T
M
CV_
t*,
���`
{b;
L
z
kl;rim;.:zFr
(Y.
EZ
O
O;
O
O
to
O
N
'd'
In
N
�Y
to
p
N
V
lD
O
`.u7t
'er
e0�
m
M
o.:
;fls
m
m
ti'
m
h
r
h
r
m
h
r
m
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o:
O
m
U
`G
m
W
y U
m �
U
N
m
y
Ct
Et m
m
A
y
m
m
02-
M
O
+.
o o Y
m
Y
y
O m
c
m
.2
Q
N L Co
E
m
.N m
ayi O c' y
m
° N
m
L L
m m
UG,)
y
O
�a y ,C
N V N C
'�
N
N N C
'�
y
y � N y m m
m N
V U
N c
c 0
d o
c
Q1 m m -Q d
d m
�+
V
L' N m
Nm m
y
G .N m
y
Q c11 N M cV 16
N N
[0 y
L
0. m
e
7
E E
7 N
m m E
'.7
m
y
E
m
d Q m ro
Y C C (D N
Q m
L L C
O
L t"
m
Rf m
m
�O .—. 7
'D
w
m („" __
'O
m
s m
_
'6
m
,N .N
o
m 'm
A a
m 3
n m>
m m
m
y N
E m
m y m
m E °'
m,
m o
3 co
CD E °'
m ,r
m o
2 F m m Q Q
u, E m
LL Z
Q >-
U cn 2G
J GD cn
J F-
Z cn 2
J H
Em
w
E
E
U)
C
7�
O Y O r r O O r O N N O N 0 O O 1- to 0 O 0 0 0 O
C~D ice' c00 m co ccoo N {1? O 4 h O CD cNa O to 4F, to va
a
m N 16 Mj' CD CS 'Ct' W Y `F N
N N N tD r CO M O t-- h m m In co
O Y r r r N CO CO h r Y IA
q C; Eff Epi
i'
O N O N [I' N M O O W ED N W O O h O d' LO O m 0 0 0 0
r m Ei} O M hO E!9 'd• N 'd' O M N tD r ER 'ffi' Hi iA'
OD h m d' (') O to CO h O
r r o N N Ct) V: N o r N Y N N
to O (D Lf) Cl) CO h m h N M m (D
OD Cp w r r N to Ef} (n HEo to CO Y m
vz C'�
CDr
O M O C9 Cl) 'ct O O 'd• 0 h (D O O In O O 01 O LO co O O O O
Efl' Cl) Ef,T C7 Cl) h• M H} (D W M M (fl M Y M O M O N r 6% <} V# di.
r Y M h (7 r - m O O ED rO
N CO (D O h m t-- +-� O rN
LO t�'� t0 mm M (D h M r M m h-
t(J l0 CO r N N 64 N N r N r
m
m
r l�
O to O a U) m O O M N N s1' O m O 10O h LO LO h 0 0 0 0
EA Of6} _ O O Cl) m :fl' N CO N O V3, tD r Cl) O r m N E!} tfl' '(9 4a
n r h r m r to t 00m ([) (7 M D) O O
N Cf N Ih N O1 N h m r �' tf� d' m N
co O m
h Y F+ r Efl' 69' '(A ifT E1T 03i N '(H' r.. -
IF
m
O Y O r r m O O m M N O M to N O d' LO O to 0 0 0 0
69 CD (,9- CO m co m V:J h O m C9 H} 'd• O ro O O o CO Ef3 -En. -W fa `O
Y n r cc r O r I` O0D 'd' N Y d h cc O O a)
tT cl cr m N r Ct) tt N r r `cY 4 r N
to LO p It m co I, E9 tctCo� h fir} N O m p)
iA � � I Vt ;!9' E�9' Cn
r Y N
EZ
m
I)
o m o o d o o It It�t h o h 0 0 0 w to tD 0 0 0 0
Eri O 44 O O m Ef? m r O r r.} O r OO m O Efl :fl ff} to _
m p m O r h r O r CO N p t; r O Q
OOi OI tip ED N m Ot� � �0 EEDD Com') 'pdp Omi N N
LO Ef} N, lR tff .6% di 41 a C—%
O r O m O O m r CD h 0 0 0 Cl) O m O O It O O O O W
ei Y 46% !. r m m Ef} N M o d 6% h 0 N O m m Ch O 4H O E9 tt3
L,
M M r M CA a o t` o h c; o rt d' 0 0 o W
ED CUA co r N C7 moi' r (D -f w CD r a0 O N C7 0 4 --
Fa} r rt r IDtD 69 CD to N r late Ln N O O O
04 — 691�a ICL
16% U
m
O m O m O O r CO CD It O N O W O O O O m CD 0 0 0
(fl o 4H O m to m N tD m E1k uJ O M O CD O O O 419' O
O O N DY r (7 (D O (D (D O r h O O O O O O
CD op i N Cry to r- 1cC--� LO Cts (") O O C N O 0ID
p�
m N N N Y o N Ef} 4t} 6N7 +M- CO— " N N W
3
ER
CD m
CD
O m o mm o O r N m M 0 d' O co O h O O N O O O O :3,% N E13 N N m &9 h cF m 0 69to O co O M tD O O 6s O Q% O
d' t1' d' m m N CCL CD O tD O Cn C? O N O O O O
X
m Corr C`� N N CD *� O m to ('7 0 d� CC) N C) O N
m m m m CO m K} m 1" N m Nq h CD CEJ O N
4a .0
N ( r ++
� O
`m 0
O O O p O CD O O O tD h m 0 0 0 m O `d' O O r 0 0 0 0
63 EH Ef} f�, y} LO O lb% m O h h to EO Eia' h O CO to to r O 69' O ca
CO h M CD r M M O M ti tl o O O 'r>
't m M M r h h 'd' m m N0 O 2
'd' N (D (O EA tD to N r r OOD co
CL CL
O
r U
ED
Z
N m C.
W C �
(7 0 U)
m L
Q Olu
r
C C W C W m O
t1 N
m m Z C O m N v m W Q to m
�j m m U o
Qtw�u E m c ly `i° >- ED X c O
m o f d G °' F m a an d b n OO
o U C m m m m O »_ Q
Da. 4 m !L Cm N N m m U•O lw[ U. m O m V Zo 0 C .A aQ+ CO
J
EO C CL
>
m Z v E ED
E 4 J Z N y W m 'n c 5 N v N Q m
E m o o +� t4- W ro a � m ,9 ° m E m mc` It F. n H a n E a v o w9 H U
c[ m C7 0 0 m x D- - o° ,• m a m E m m m Co 0 o W o o -
N (L F+ F- U) W O S F- 5 W O m ¢ Z 0 U U ¢ w to Fr U
'A,
City Council Finance Committee Meeting Notes
March 8, 2011
Page 2
Cedar Grove TIF —The committee recommended that the City consider a one -time, interest
free transfer into the Cedar Grove TIF Fund from the Utility Trunk Funds, which consist of the
storm sewer, water, and sanitary sewer. This transfer would be subject to review by the City's
bonding attorney to ensure compliance with all TIF regulations. The committee concurred that if
such a transfer occurs, then the three individual trunk funds should be combined into one fund
and renamed the Utility Trunk Fund. The Committee asked for additional information as to how
the operations of Public Works and Utilities would be impacted by such a transfer. The
Committee also recommended that the Housing Fund could be considered as an opportunity to
transfer additional funds into the Cedar Grove TIF.
The Committee concurred with staffs recommendation to have the full Council review
the Finance Committee's recommendations on fund transfers in the fall of 2011. The Committee
asked that staff provide additional information to the Committee regarding the balance of each
fund being considered for transfers, the assumptions being made as to availability of funds, and
any possible consequences of the proposed transfers. The Committee suggested that the Council
consider the transfers under the confines of "rectifying city funds" or "strategic financial plan for
all City funds ". The Committee also asked staff to contact Bill Schreiber or Tom Pohl of
Messerli and Kramer (attorneys serving the MLC) to inquire about any legislative options to
extend the Cedar Grove TIF district, which is scheduled to be decertified in 2029.
II. CEDAR GROVE REDEVELOPMENT PARTNERS AND AGREEMENT
City Administrator Hedges and Director of Community Development Hohenstein
introduced master development partner Len Pratt. Mr. Pratt noted that Mr. Kelly Doran has
indicated that he needs to withdraw from the development partnership for personal reasons. As a
result, Mr. Pratt noted that he is proposing to add a broker team from Cassidy Turley, including
broker Jim McCaffrey, to the development team to cast a broader net for business and
development prospects that may be attracted to the Cedar Grove district.
Mr. Jim McCaffrey provided a presentation to the Committee on the services of Cassidy
Turley, and some considerations for the Committee and City to make in terms of broader
marketing of prospective businesses and developers. The committee provided feedback on the
City's perceptions of the parameters for the marketing efforts of the Cedar Grove
Redevelopment District. The Committee reiterated the City's vision for vertical, mixed use
development in the area.
In discussing Mr. McCaffrey's suggestions and questions, the Committee noted their
desire for the master developers and Cassidy Turley to seek out all potential buyers /uses, with
the understanding that should a use be proposed that is outside of the City's vision for the area,
then the City Council could make suggestions to refine such a proposal or modify the vision as
appropriate to find common interests. The Committee also recommended that the EDA consider
action at the March 15, 2011 meeting to approve an amended preliminary redevelopment
agreement for Pratt Development LLC for the Cedar Grove Redevelopment Core Area, which
would formalize the proposed modifications to the development team.
City Council Finance Committee Meeting Notes
March 8, 2011
Page 3
III. ADJOURNMENT
The Committee meeting adjourned at 2 p.m.
f 1}
4 City of Eagan Memo
TO: City Administrator Hedges
FROM: Director of Administrative Services VanOverbeke
DATE: May 06, 2011
SUBJECT: Fund Status
At your request, I am providing this updated background information regarding the financial
status of the various City funds along with general information about the source of those funds
and any restrictions on the use of the funds. The information was last provided in June of 2010.
The memo is arranged in the following three sections:
Section!.
Included is a brief description of each City fund with fund purpose and information about
sources and uses of resources. The description is a combination of accounting /legal
requirements and information and specific application to Eagan's circumstances. The
December 31, 2010 Financial Report includes 44 separate City Funds with each fund
considered a separate accounting entity. Certain debt service and capital projects funds are
combined in this memo because of their similarities.
Section 11.
Section II identifies some public policy considerations that should perhaps be considered in
discussions regarding appropriate uses of fund and /or investment balances.
Attachment
Included in the attachment is a table listing the various funds or fund combinations with fund
balance and investment amounts. The general information and the footnotes provide general
information regarding the table and circumstances unique to the individual funds.
Section I.
GENERAL FUND (1 Fund)
Purpose /Sources & Uses of Resources
The General Fund is established to account for the revenues and expenditures to carry out
basic governmental activities of the City such as general government, public safety, public
works, and parks and recreation. Revenue is recorded by source; i.e. taxes, licenses and
permits, fines and forfeits, service charges, etc. General Fund expenditures are made primarily
for current day -to -day operations and operating equipment and are recorded by major functional
classifications and by operating departments. This fund accounts for all financial transactions
not properly accounted for in another fund.
is-
SPECIAL REVENUE FUNDS (7 Funds)
Special Revenue Funds are used to account for revenues derived from specific taxes or other
earmarked revenue sources. They are usually required by statute or local ordinance to finance
particular functions or activities of government.
Housing Fund
Purpose /Sources & Uses of Resources
This fund accounts for the proceeds of an annual fee equal to 1/8 of 1% of the outstanding
principal balance of certain revenue bonds or obligations issued to finance multifamily housing
developments in accordance with the City's housing program and housing plan. It also
accounts for the activities of the Housing and Redevelopment Authority in and for the City. The
fund will be used to finance future housing - related developments within the City as determined
by the City Council.
Cable TV Franchise Fees Fund
Purpose /Sources & Uses of Resources
This fund was established to account for franchise fees paid to the City from the area cable
television provider. The money is restricted for cable - related and communications activities.
Through this fund, the City provides funding for the City's Communications Department, E -TV
and certain fiber projects as approved by the City Council.
Minnesota Investment Fund Revolving Loan Fund
Purpose /Sources & Uses of Resources
This fund was established to account for loan payments made by Biothera for a loan through the
State - administered MIF program targeting job growth. The City is allowed to retain 20% of the
payments received for seed money for future loans.
Recycling Fund
Purpose /Sources & Uses of Resources
This fund was established to account for the implementation and on -going operation of the
City's recycling program. Funding is provided primarily from Dakota County grants and is
restricted to recycling activities. This fund is essentially inactive.
Cedarvale Special Services Fund
Purpose /Sources & Uses of Resources
This fund was established to account for the Cedarvale Area Special Services district. This
designation allows property owners in the area to pay for and receive special services beyond
those provided to the remainder of the community.
Eagan TV Fund
Purpose /Sources & Uses of Resources
This fund accounts for Public /Education /Government (PEG) fees from the cable provider as well
as the local cable TV programming activities of Eagan Television (E -TV), which was established
in 2008 after BECT was dissolved.
DWI Forfeiture Fund
Purpose /Sources & Uses of Resources
This fund was established in 2006 to account for money received from the court system related
to DWI forfeitures. The money accounted for in this fund is restricted for DWI education and
enforcement activities.
l6
DEBT SERVICE FUNDS (7 Funds)
Debt Service Funds are established to finance and account for the payment of interest and
principal on all general obligation debt, including debt payable from special assessments but
excluding debt issued for and serviced by a governmental enterprise. Provisions are made in
the City's general property tax levy for money sufficient to meet the general obligation debt.
Special assessment levies are sufficient to meet the debt service obligation of the special
assessment improvement debt issues.
Improvement Bonds Fund
Purpose /Sources & Uses of Resources
This fund accounts for the special assessment receivables for projects accounted for in the
Revolving Improvement Construction Fund, and for which bonds have not yet been issued.
Special Assessment Improvement Bond Funds (Combination of 4 Funds)
Purpose /Sources & Uses of Resources
In general, balances in debt service funds are pledged to repayment of the bonds and cannot be
appropriated until the bonds have been retired.
By City Council policy, these balances are allocated to the Community Investment Fund after all
other Special Assessment Improvement Bond Funds have been determined to be financially
sound.
Municipal State Aid Bonds Fund
Purpose /Sources & Uses of Resources
This fund accounts for the debt service payments for the G.O. State Aid Street Bonds sold to
provide funding for the Northwood Parkway Overpass across 35E. The debt service is repaid
from the City's municipal state aid allotments received annually from the Minnesota Department
of Transportation. The Overpass and Infrastructure levy in the Major Street Fund supplements
the loss of direct MSA dollars available for construction.
2009A Equipment Certificates
Purposes /Sources & Uses of Resources
This fund accounts for the debt service payments on the 2009 Equipment Certificates sold to
finance a fire pumper as part of the City's Fire Apparatus Replacement Plan. The revenues to
pay the debt service are a component of the annual $400,000 tax levy dedicated to Fire
Apparatus Replacement.
CAPITAL PROJECTS FUNDS (19 Funds)
Capital Projects Funds are established to account for the resources expended to acquire assets
of a relatively permanent nature. (Special revenue and enterprise fund resources are not
included in this category.) These funds evolve from the need for special accounting for bond
proceeds, grants, and contributions for the acquisition of capital assets.
Capital Projects Funds provide a formal mechanism that enables administrators to ensure that
revenues designated for certain purposes are properly used. Capital Projects Funds further
enhance reporting and verification that requirements regarding the use of revenue were fully
satisfied.
17
The City's Capital Projects Funds are as follows:
Park Site Acquisition & Development Fund
Purpose /Sources & Uses of Resources
This fund is a combination of the Park Site Fund, which accounted for park dedication fees from
developers for the purpose of obtaining and developing parklands, and the Park Acquisition and
Development Grants Fund, which accounted for parks - related grant proceeds and
corresponding expenditures. The budget for this fund is approved by way of the five -year
Capital Improvement Program adopted by the City Council.
Community Investment Fund
Purpose /Sources & Uses of Resources
This fund is financed primarily from special assessment collections remaining after all debt
service obligations are met in special assessment debt service funds. The fund is used to pay
capital costs and City Council designated start -up operational costs of projects of general
benefit to the City.
Fire Safety Campus Fund
Purpose /Sources & Uses of Resources
This fund was created to account for the revenues and expenditures related to the construction
of the Fire Safety Campus.
Tax Increment Funds (Combination of 5 Funds)
Purpose /Sources & Uses of Resources
These funds are each set up to account for the revenues and expenditures related to the
individual tax increment districts approved in the City.
The City's Tax Increment Funds are as follows:
• Hwy 55/149 Tax Increment (2 -3) Fund
• Hwy 55 /Grand Oaks Tax Increment (2 -4) Fund
• Cedar Grove /Hwy 13 Tax Increment Fund
• Hwy 55 /Blue Gentian Tax Increment (2 -5) Fund
• Southeast Eagan Tax Increment Fund
Equipment Revolving Fund
Purpose /Sources & Uses of Resources
This fund is used to account for capital equipment purchases financed from a dedicated portion
of the City's operating levy. Acquisitions are budgeted through the Part II section of the City's
Capital Improvements Program.
General Facilities Renewal & Replacement Fund
Purpose /Sources & Uses of Resources
This fund was created to account for the tax levy collected for providing resources to allow for
major repairs for the City's general facilities. The fund also pays the City's share of special
assessments levied against City owned property.
Revolving Improvement Construction Fund
Purpose /Sources & Uses of Resources
This fund is used to account for all construction costs for public improvement projects that will
be permanently financed by bond sales with debt service payments made from special
assessment collections.
1�
Housing Improvement District Funds (2)
Purpose /Sources & Uses of Resources
These funds were created to account for the internally financed loans to the Cedar Bluffs
Townhome and Meadowlark Ridge Townhome developments and the collection of assessments
to repay the loans.
Fire Apparatus Revolving Fund
Purpose /Sources & Uses of Resources
This fund was created to account for activities related to the renewal and replacement of the
City's fire apparatus. Funding is through a tax levy and through use of equipment certificates.
The fund separates the purchase of fire apparatus from the Equipment Revolving Fund.
Utility Trunk Funds
Purpose /Sources & Uses of Resources
The City's utility trunk funds are used to account for the collection and expenditure of money
used to provide over sizing for utilities. The revenues come primarily from area assessment
charges and from connection charges. The primary purpose of each trunk fund is to complete
construction of the required utility infrastructure across the entire community necessary for full
development. Available resources after completion of the original construction are generally
earmarked for renewal and replacement of those systems. The following trunk funds are in
place and fund titles describe activities accounted for within each fund.
Storm Sewer Construction Fund
Water Trunk Construction Fund
Sanitary Sewer Trunk Construction Fund
Major Street Construction Fund
Purpose /Sources & Uses of Resources
This fund operates similarly to the utility trunk funds; however, streets cannot be classified as
utilities. Financing derives from the tax levy, Municipal State Aid, and interest earnings.
Expenditures are used to pay the City's share of collector streets, county roads, certain trails,
signal lights, etc.
Energy Efficiency Improvements Fund
Purpose /Sources & Uses of Resources
This fund was created to account for the proceeds and expenditures related to the Federal
stimulus funding received through the Energy Efficiency Conservation Block Grant.
Improvements to provide reductions in energy usage have been made to a number of City
facilities.
INTERNAL SERVICE FUNDS (3 Funds)
Internal service funds are established to account for the financing of goods or services provided
by one department or agency to other departments or agencies of the governmental unit, or to
other governmental units, on a cost - reimbursement basis. Records are maintained on the
accrual basis.
Benefit Accrual Fund
Purpose /Sources & Uses of Resources
This fund's revenues are derived from direct labor charges to other City funds. All benefits are
accrued and paid by the Benefit Accrual Fund.
19
Risk Management Fund
Purpose /Sources & Uses of Resources
This fund's revenues are derived from general insurance premium charges to other City funds.
This fund purchases general insurance with certain deductibles and pays all uninsured claims.
Workers' Compensation Self- Insurance Fund
Purpose /Sources & Uses of Resources
This fund's revenues are derived from charges to other City funds. Workers' compensation
claims are paid directly from this fund. Premiums for workers' compensation reinsurance
coverage required by state statute are paid by this fund as well.
ENTERPRISE FUNDS (5 Funds)
Enterprise Funds are established to account for the financing of self - supporting activities of
governmental units which render services to the general public on a user charge basis.
Records are maintained on the accrual basis of accounting.
The reports of the Enterprise Funds are similar to comparable private enterprise reports and are
self- contained. Creditors, legislators, or the general public can evaluate the performance of the
municipal enterprise on the same basis as they can the performance of investor -owned
enterprises.
Public Utilities Funds
Purpose /Sources & Uses of Resources
The operations of the water, sanitary sewer, street lighting, storm drainage, and water quality
utilities provided by the City are accounted for in this fund.
Civic Arena Fund
Purpose /Sources & Uses of Resources
The City's Civic Arena contains two sheets of ice that are in use about eleven months of the
year for ice skating and hockey games. All arena operations including dry floor activities are
accounted for in this fund.
Aquatic Facility Fund
Purpose /Sources & Uses of Resources
Cascade Bay, an outdoor recreational pool with slides a "lazy river," and miniature golf course
operates during the summer months. Its operations are accounted for in this fund.
Community Center Fund
Purpose /Sources & Uses of Resources
This fund accounts for all activity related to the Community Center with its variety of programs
and uses. The outstanding bonds used to finance the construction of the Community Center,
although supported by a tax levy, are accounted for in this fund.
Fiber Conduit Rinq
Purpose /Sources & Uses of Resources
This fund was established to account for the City costs related to construction of the 11.5 -mile
conduit ring installed in conjunction with the Independent School District 196 fiber project.
OPEB Trust Fund
Purpose /Sources & Uses of Resources
This fund was created to account for the trust established to provide future payments for post
retirement health insurance benefits and related premium costs related to retiree health
insurance. The City does not have access to these dollars for operations.
Dakota County Drug Task Force Agency Fund
Purpose /Sources & Uses of Resources
This fund was created to account for the activities of the Dakota County Drug Task Force for
which Eagan serves as the fiscal agent. The City does not have access to these dollars for
operations and participates in control of the operations through a joint powers agreement.
Section II.
PUBLIC POLICY
General public policy issues regarding the use of balances and appropriate levels of balances in
the various funds include the following:
Fund Integrity
The City's past practice has been to place a high priority on fund integrity meaning that money
raised for and being accounted for in a particular fund would be used for the purpose for which it
was raised and not made available for other purposes as general revenue. For example, the
City's Cable TV Franchise Fees Fund has not been used to provide general government
services but has been restricted to Cable TV and communications special purposes.
The primary exception to that process involves funds where the original purpose has been met
and there are remaining assets. The City Council has the discretion in most cases to
appropriate the residual assets of that fund to any other authorized public purpose. The
creation of the Community Investment Fund formalized the method for dealing with remaining
assets in the Special Assessment Debt Service Funds.
Highest Priority Funding Items
As assets become available, the City is typically faced with the issue of allocating them now or
saving them for later in an attempt to get the best long -term return on the resources. Today's
project may not be the highest priority over a period of time and it is necessary to strike a
balance between short and long -term perspectives.
Credit Ratings
In spite of very rapid growth and tremendous infrastructure demands, the City has been able to
maintain and increase its credit ratings from the bond rating agencies over the years. There are
a number of rating factors that have been favorable for the City and have resulted in this very
positive outcome. One of the most obvious and clearly noted in the rating reviews has been the
City's conservative financial operations resulting in favorable reserves. The agencies have
consistently noted a strong trend of prudent management.
Please advise, if you want to discuss this information or if you would like anything else.
Director of istrative Services VanOverbeke
c21
Attachment
General Table Information:
In reviewing the available balances included in the table, the following general parameters
should be noted:
➢ In certain funds, there is little difference between investments and fund balance while
in others there are large differences. The differences relate primarily to how many
receivables and payables exist and how the receivables are accounted for in the
particular fund.
➢ Certain of the designations between reserved /designated and
unreserved /undesignated are accounting requirements, others are in place by City
Council action meaning the City Council could change them, and others are there by
State Statute. Per accounting standards, deficit fund balances all become
undesignated because there is nothing to designate; however, when assets become
available the fund balances would be designated for the purpose of the specific fund.
➢ The size of the balances should be kept in perspective relative to the assets in the
particular funds. For example, the Public Utilities Enterprise funds include capital
assets with a historical value of nearly $236 million.
➢ The appropriate level of cash and /or fund balance will vary by fund depending upon
working capital requirements, future fund obligations, and circumstances unique to
particular funds.
Fund Table Notes:
(1) The General Fund cash balance includes $466,683 held by the City in escrow
deposits to provide reimbursement for City costs related to development. The
money does not technically belong to the City.
(2) The Housing Fund is owed $610,000 by Cascade Bay as of 12- 31 -10. The loan is
being repaid in annual installments with the last installment due in 2018. The original
loan amount was $1,200,000 and the first payment was made in 1999.
(3) The General Obligation Recreational Facilities Bonds sold to finance the Community
Center, although supported by a tax levy, are accounted for in the Community Center
Enterprise Fund.
(4) The deficit position in the unreserved /undesignated fund balance reflects costs that
have been incurred by the City but not permanently financed through a bond sale.
(5) Advances /loans to other funds total $986,047 at 12- 31 -10. Although not reflected in
either the cash or fund balance positions, the fund includes $2.2 million in special
assessment receivables at 12- 31 -10. Approximately $1.35 million is in green acres
status and will be collected only upon certain conditions (primarily sale or
development); of that amount nearly $1.1 million relates to the McCarthy property.
An amount of $58,750 remains pledged in an account for Open Space Preservation
per previous City Council direction.
(6) The Cedar Grove Tax Increment Fund includes an asset of $14,163,925 for property
being held by the City. The City has historically financed most TIF activity internally
with the resulting internal borrowing repaid through tax increment generated by the
development.
(7) The deficit position in the Revolving Improvement Construction Fund results from the
City's practice of financing the construction internally and bonding later. That
process allows the City to reduce bonding amounts because assessment
prepayments can be used to pay for initial construction rather than for debt service.
(8) The deficit in the Housing Improvement Districts reflects the internal financing of the
loans which are being repaid by assessments.
as
6-May-11
GOVERNMENTAL ACTIVITIES
Fund Balance
GASB Designation
Fund Name
Reserved/
Designated
Unreserved/
Undesignated
Total
Cash &
Investments
'General (
4.0*1
13.263.504
13.267.5*5
13.452.420
Special Revenue Funds:
Housing (2)
2.e19.604
'
e.919.604
2.273.216
Cable TV Franchise Fees
2,56 1,643
2,561,643
2.5*4.702
Minnesota Investment Fund Revolvirig
17.220
'
17.220
17.142
Recycling
13,200
'
13.200
13,141
Cedarvale Special Services
4,483
'
4,483
4,519
Eagan TV
265.394
'
2*5.3e4
20*.541
DWI Forfeiture
4,140
-
4,140
5.128
Subtotal Special Revenue Funds
5.785.684
'
*.785.684
5.074.390
Debt Service Funds: (3)
Improvement Bonds (4)
677.105
�_--
( .554)
(4�2,449)
(4,844.338
��
-�� 035 '177
Special Assess Improve Bonds
|
2,068,710
--
2,068710
48,64448.148
Equipment Certificate
48,644
MSA Bonds
3,807
_
-
3.807
3.790
Subtotal Debt Service Funds
2.798.266
(5.449.550
(2.651.288)
(2.7*7.223)
�
Capital Projects Funds:
Park Site Acquisition & Developmen
1.123.066
- 1.123.066
1.12*.376
Community Investment (5)
3.019,988
' 3,019,989
2,392,374
Fire Safet Campus
-
(6.999.136) (6,999,136)
(5,969,405)
Tax Increment (6)
14,163,925
(40,194,878) (26,030.953)
(39,985,756)
Equipment Revolving
1.522711
' 1,522,711
1,725,256
General Facilities R & R
474,207
' 474,207
472,063
Revolving lmp Construction (7)
-
(*.760.840) (*.763.840)
(4,269,338)
Housing Imp Districts (8)
-
(1.259.963) (1.259.963 )
(1.255.2*5
Fire Apparatus Revolving
1.055,9*4
- 1.055944
6*4352
Energy Efficiency Gran
(14,2e9) (14,26e )
12,292
Utility Trunk Funds:
Storm Sewer
6.257.502
' 6.257.502
6.224.561
Water
4,807,151
*.782.032
Sanitary aGawe
� ��� r.*1s�u7
- 7.416.107
7,379,690
Major Street Construction
20.120,469
- 20,120,469
21,683,714
Subtotal Capital Projects Funds
59.961.071
(53.232.086) 8.728.885
(5.039.033)
Internal Service Funds:
Benefit Accrual
-
�
1.320.919 1.320.819
4,461,349
Risk Management
1,832.577 1.832.577
1,836,405
Workers' Compensation Self-Ins
-
4.852.e59 I 4,852,959
4,938,239
Subtotal Internal Service Funds
-
8,006,455 8.006,455
11.235.992
Total Governmental Activities
68.*49,062
(37,*11.681) 31.137,381
21,966,545
1
' -
r
^ '^
I | �-
BUSINESS-TYPE ACTIVITIES
/ I |
Retained Earnings
Fund Name
Invested in Capital
Assets Net of
Related Debt
Reserved/
Designated
Unreserved/
Undesignated
Total
Cash &
Investments
Enterprise Funds:
Public Utilities
169.770.298
29.996.188
} 10.185.000
209.961.48*
38.270.804
Civic Arena
5.734.346
-
p.315.786)
3.418.*60
356.775
Aquatic Facility
3.870.755
-
(84*901)
3,025,854
200,638
Community Center
3.*90.012
-
2.071.327
6,461.859
3.245.5e6
Fiber Conduit Ring
352.588
(295,023)
57.565
(292,039)
Subtotal Enterprise Funds
183.317.999
29.e96.166
9.*10.617
222.92*.782
39.781.77*
Total Business-Type Activities
2e.9e6.166
9.610.617
39.606.783
39.781.77*
Grand Total City
e8.545.228
(27.801.064)
70.744.16*
61.748.319
Grand
Total
This To�|:
61,748,319
Finon�io|napp�|nvws�`en�|u»mnmvmo|u�ed|n
I OPEB
7.444.678.30
ECC Cash With Fisca Agent
8.318,62778
Tom P. 12-31-10 Total
62.30480910
1 Petty Cash & Change Funds
Not Included -- Drug Task Force
(448.084.02)
General
1,450.00
(107,606.00)
Civic Arena
1.100.00
Amount Listed in City Funds
61.748.319.16
ECC
900.00
Drug Task Force
13.560o0
100.00
Drug Task Force
448.084.02
107,606.00
-
Financial Report - Pages
Payroll Cash
5.300.05
'- _���_��__�/�_-��-����
_ Adj to Mkt Value
1.537.67
Ties to Draft
68 and 131 78.091.257.e8