07. 2023 - 2024 CIP Approved Expenses Staff Report
Date of Meeting: May 1, 2024
For: Honorable Mayor and Council
From: Kyle Morell, City Administrator
Subject: 2023/2024 CIP Approved Expenses Review
Background:
During earlier discussions about equipment purchases and the 2024 road project, I offered to compile a list
of approved CIP expenses dating back to the summer of 2023 so the Council could see what has been
approved, is waiting to be approved, and how the City plans to pay for it. Since last summer, the City has
discussed 13 purchases/projects to be completed within the 401, 404, 406, and 408 CIP Funds. Ten
purchases/projects have been approved, and the items have been ordered or delivered. The 2024 Street
Project and the Sealing Coating and Crack Sealing Project are two of those ten projects. Bonds are being
sold on Wednesday morning to pay for those projects. The remaining three projects are the tennis court
reconstruction, the purchase of a new fire engine, and the City Hall renovations. A list of the discussed
projects is attached, titled “2023 – 2024 Approved Expenses”. Also included below are the CIP Fund
spreadsheets and the Summary Budget spreadsheet.
This list shows the budgeted amount versus the approved amount, the means of payment, and when
payments are expected. Bids and quotes have been favorable, allowing the City to save $338,537.86 over
the budgeted amount. We believe this trend will continue with the last three projects on the list. I will
detail those projects below.
Tennis Court Reconstruction
The amount listed, $557,520, is the engineer's estimated cost for reconstructing the existing courts (base
bid), adding a tennis court at City Hall (alternate 1), and reconstructing the Barton Johnson court (alternate
2). Given the cost, the City cannot afford to complete the base bid plus both alternates. Completing the
base bid plus alternate 2 would reduce the project cost by $50,000. Completing the base bid plus alternate
1 would reduce the project cost even more.
This project is proposed to be paid for with cash, using funds already in the 404 Park CIP Fund and
transferring $125,000 in excess fund balance and $200,000 from the 401 General CIP Fund into the 404
Park CIP Fund. The transfer of excess fund balance will leave the City with just over 55.5% excess fund
balance, above the 35% - 50% recommended by the City’s auditor. The 401 General CIP Fund ended 2023
with a healthy fund balance. The 2024 tax levy amount for the fund exceeds the planned expenditures
within the Fund. The Fund can withstand a transfer out of $200,000 and still be able to cashflow expenses
for the foreseeable future.
Fire Engine
The Department is requesting the purchase of a new fire engine, replacing an engine that will be over 20
years old when the new engine arrives. The purchase is currently scheduled for 2026, but the lead time on
the purchase is 24-36 months. The Department is currently working with suppliers to keep the engine cost
under $800,000, which is $50,000 under the budgeted amount. Ordering the engine in 2024 will likely see
it arrive in 2026 or 2027. A down payment may be required (a $10,000 downpayment was required on the
tanker ordered last year). The bulk of the cost will be owed in 2025 or 2026, depending on the assembly
schedule.
The engine will be paid primarily with an equipment certificate, allowing the City to spread the cost over
ten years.
City Hall Renovations.
Staff is working to gather cost estimates for the various improvements and repairs discussed at the April
work session. We have asked the contractors to individually quote each project so that we can prioritize
their needs with an understanding of each project's cost. We will discuss this item again at the June work
session.
These renovations will be paid for with cash from the 401 General CIP Fund, which, as currently presented,
remains cash-positive until 2032.
Financial Impact:
As long as the Council remains committed to allocating levy funds to the CIP funds, there will be no adverse
financial impact beyond what the attached documents show. CIP needs are evaluated, and costs are
updated annually. The CIP Committee will meet in May to review the proposed 2025 projects and beyond.
As for Fund Balance, I do not see the need to use this as a mechanism for project funding once the tennis
court project is complete. If $125,000 is used to complete the tennis courts, the City will have used
$272,000 in excess fund balance to upgrade the park and recreation amenities at City Hall in the last 12
months. Of all the projects reviewed, the tennis courts and the hockey rink are the two best projects to use
fund balance for, as they are available for use by all taxpayers.
I believe the purchases/projects listed are all needed and should be allowed to be completed. The City has
the funds and a solid plan to pay for each of them.
Do not hesitate to ask if you have any questions before the Wednesday meeting or want additional
information.
Attachments:
2023-2024 Approved Expenses
401 CIP
404 CIP
406 CIP
408 CIP
Summary Budget
Items Approved for Purchase Date Approved Amount Approved Budgeted Amount Difference (+/-) Means of Payment Amount Paid to Date Payment 1 Date Payment 1 Date
Plow Truck 8/2/2023 305,508.29$ 325,000.00$ 19,491.71$ Equipment Certificate -$ 133,655.00$ 4th Q $172,000.00 1st Q
Hockey Rink Boards 9/6/2023 146,620.00$ 146,620.00$ -$ Excess Fund Balance 146,620.00$
FD Truck - F350 9/19/2023 64,785.95$ 86,500.00$ 21,714.05$ Cash - 406 Fund in 2024 -$ 64,785.95$ Upon Delivery
Rescue Boat 10/17/2023 50,869.00$ 38,000.00$ (12,869.00)$ Cash - 406 Fund in 2024 -$ 50,869.00$ Upon Delivery
Tender 2 12/19/2023 396,304.40$ 425,000.00$ 28,695.60$ Cash & Equipment Certificate 10,000.00$ 100,879.00$ Nov / Dec $286,787.00 November
PW Truck 2/7/2024 96,526.86$ 84,356.00$ (12,170.86)$ Cash - 406 Fund in 2024 -$ 96,526.86$ Upon Delivery
Skid Steer 2/7/2024 60,367.64$ 90,000.00$ 29,632.36$ Cash - 406 Fund in 2024 -$ 60,367.64$ Upon Delivery
Skid Steer Attachment 2/20/2024 22,956.00$ 27,000.00$ 4,044.00$ Cash - 406 Fund in 2024 -$ 22,956.00$ Upon Delivery
2024 Street Project 2/20/2024 3,480,000.00$ 3,575,000.00$ 95,000.00$ GO Bond -$ 2024-2025
2024 Crack Fill & Seal Coat 455,000.00$ 620,000.00$ 165,000.00$ Abatement Bond -$ 2024
Tennis Court Reconstruction -$ 557,520.00$ Cash from 404 and 401 -$ 450,000.00$ Fall 2024 $107,520.00 Summer 2025
FD Engine -$ 850,000.00$ Equipment Certificate -$ 2026 2027
City Hall Renovations -$ 67,548.00$ Cash - 401 Fund -$ 2024
Totals 5,078,938.14$ 6,824,996.00$
Total Cash Expense (+/-) 338,537.86$
2024 2025
Inflation Assumptions
1 Revenue (Non-property tax) 0.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
2 Interest Earnings 0.00% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50% 3.50%
3 Expenses 0.00%
4 CIP Inflation Factor 0.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00% 4.00%
2022 2023 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
ACTUAL ACTUAL Projected
REVENUE
5 Property taxes 217,336 293,791 235,000 120,000 130,000 135,200 140,608 146,232 152,082 158,165 164,491
6 Intergovernmental - - - - - - - -
7 Capital Improvement Debt Levy - - - - - - - -
8 Special assessments - - - - - - - - - - -
9 Investment Income 3,126 2,300 1,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000
10 Refunds and Reimbursements
11 Park Dedication Fees
12 Rental and lease income - - - - - - - - - - -
13 Miscellaneous Revenue - - - - - - - - - -
14 Total Revenue 220,462 296,091 236,500 121,000 131,000 136,200 141,608 147,232 153,082 159,165 165,491
EXPENSES
15 Total Current - - - - - - - - - - -
16 Payables internet - - - - - - - - - - -
17 Debt service - - - - - - - - - - -
18 Total Capital Projects 296,733 198,059 190,073 235,001 645,072 135,000 108,000 112,072 208,135 169,859 618,083
19 Total Expenses 296,733 198,059 190,073 235,001 645,072 135,000 108,000 112,072 208,135 169,859 618,083
20 Revenue Over / (Under) Expenses (76,271) 98,032 46,427 (114,001) (514,072) 1,200 33,608 35,160 (55,053) (10,695) (452,592)
OTHER FINANCING SOURCES / (USES)
21 Bond Proceeds
22 Transfers In - 8,000 - - - - - - - - -
23 Transfers Out to Sewer Fund (2,640)
24 Transfers Out- (200,000)
25 Total Other Sources / (Uses) - 5,360 (200,000) - - - - - - - -
26 accounts payable
27 Prior Period Adjustments
28 Ending Fund Balance 564,735 782,892 629,319 515,318 1,246 2,446 36,054 71,215 16,162 5,467 (281,634)
CITY OF SCANDIA CITY OF SCANDIA
Capital Improvement Plan Capital Improvement Plan
Capital Improvement Fund 401 Capital Improvement Fund 401
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Capital Project Name Year ACTUAL ACTUAL PROJECTED
29 12,000
30 Broadband Development Grants to MIDCO 2022 236,700
31 Development Code Update 2022 5,771
32 Community Center Improvements-Doors & security 2022 16,609
33 Council Chambers remodel 2022 5,103 7,476
34 Gateway Trail 2025 15,000 160,000
35 Broadband Development Grants to MIDCO 2023 12,750 119,500 92,000 300,000 108,000
36 County Ped & Bicycle Accomodations 2023 50,000
37 Wall Panel Joint Replacement Fire Hall-leaking 2023 16,250
38 Council Chambers remodel 2023 12,309
39 Security Improvements CCTV for Park 2024 14,000
40 Bliss Additions Stormwater plan 2023 122,525 135,000
41 new Exhaust removal system for truck bays 2024 58,399
42 new Warning Sirens 2025 31,633
43 Arts & Heritage Center Amphitheater 2027 0
44 Arts & Heritage Center Sidewalk and Walkways 2027
45 CC AC Condenser Replacement 2025 37,960
46 Lobbying 2025
47 Fire/PW Potable Well Pump (2000) Replacement 2026 11,699
48 2010 Fire Radios Replace 3 unspupported radios 2030 17,548 24,016
49 2010 Homatro Cutter Twin Line R-1(Jaws of Life)2030 40,945 56,036
50 2015 Lucas CPR Device-replacement 2030 17,548 24,016
51 Cold Storage Building 2030 112,072
52 Additional Comm Cent Elec Locks 2030 17,548 24,016
53 Large Hall and Heritage Room Carpeting 2030 80,052
54 2000 Station Bay floor epoxy coating-maintenance 2031 21,900 31,171
55 2010 Washer/Extractor-replacement 2031 9,125 12,988
56 2012 UTV & Trailer replacement-off road rescue 2031 42,583 60,609
57 2017 Thermal Imaging Cameras (1of3) find hot spots 2031 9,733 13,853
58 Zoll Monitor/Defib 2031 51,239
59 Second Fire Station 2032 337,136
60 Community Center Design & Planning 2032 280,947
61 Air Containment Unit 2033
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Community Center Improvements-Front Office + Equip
Room 50,000
63 CIP placeholder - SERVER REPLACEMENT 2035 7,800
Total Capital Projects 296,733 7,476 198,059 190,073 235,001 645,072 135,000 108,000 112,072 208,135 169,859 618,083
PROJECTED NEW DEBT TERMS Updated KHM As of Date:6/27/2023
1 Par Amount (Line 14) - - - - - - - - - - -
2 Number of Years 15 15 15 15 15 15 15 15 15 15 15
3 Interest Rate 0 0 0 0 0 0 0 0 0 0 0
4 New Debt Levy - - - - - - - - - - -
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CITY OF SCANDIA
Financial Management Plan
Park Capital Improvement Fund
Inflation Assumptions
4 CIP Inflation Factor 4.00% 0.00% 2.00% 4.00% 4.00% 4.00%4.00% 4.00% 4.00% 4.00% 4.00%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032
ACTUAL Proposed
REVENUE
5 Property taxes 20,000 20,000 60,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
6 Intergovernmental 10,125 112,500
7 Charges for services
8 Investment Income 620 66 66 66 66 66 66 66 66 66 66
9 Sale of capital assets
10 Park Dedication Fees 24,000 24,000 - - - - - - - -
11 Rental and lease income - - - - - - - - - - -
Transfer from General Fund 150,000 125,000
12 Miscellaneous Revenue 7,949 8,068
13 Total Revenue 38,694 314,634 209,066 50,066 50,066 50,066 50,066 50,066 50,066 50,066 50,066
EXPENSES
14 Total Current
15 Debt service
16 Total Capital Projects 48,113 333,739 450,000 107,520 25,000 64,042 - -
17 Total Expenses 48,113 333,739 450,000 107,520 25,000 64,042 - - - - -
18 Revenue Over / (Under) Expenses (9,419) (19,105) (240,934) (57,454) 25,066 (13,976) 50,066 50,066 50,066 50,066 50,066
OTHER FINANCING SOURCES / (USES)
19 Bond Proceeds
20 Transfers In 200,000
21 Transfers Out 8,000
22 Transfers Out-
22 Total Other Sources / (Uses)- 8,000 200,000 - - - - - - - -
23 Prior Period Adjustments
24 Ending Fund Balance 138,798 63,927 22,993 (34,462)(9,396)(23,373)26,693 76,758 126,824 176,889 226,955
CITY OF SCANDIA
Financial Management Plan
Park Capital Improvement Fund 404
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Capital Project Name Year Costs ACTUAL Proposed
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25 Park Planning 2022 15000 10,500 4,500
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Community Center Park-concrete, grill, table,
benches 2022 112500 33,488
27
Playground Equipment - Community Center
Park 2022 122500 180,319
28 Lilleskogen Park Picnic Shelter 2024 43700 3,000
29 Gateway Trail Improvements @ Annex 2024 0 25,000
30 Hay Lake Park - sign 2023 8653 1,500
31 Park signage at Orwell Park (Liten)2023 8653 800
32 Replace rink boards 2024 134984 146,620
33
Lilleskogen Praire/Wetland Restoration
Project 2025 12878 1,125
34 Nature park trails 2025 42700
35 Playground Equipment - Erickson ballfield 2028 66682 80,000
36 Tennis Court/Pickle Ball - repaint 2024 60533 450,000 107,520
37 Expanded Pleasure Rink 2027 12653 16,010
38 Hay Lake Park Shelter water & doors 2027 101226 128,083
39 New Ballfield to Replace South Ball Field 2027 44286 56,036
40 Settlers MonutPossible Reloc/Imp 2027 37960 48,032
41 CIP Place Holder 2031 50000
42 Total Capital Projects 874,908 - 48,113 333,739 450,000 107,520 25,000 64,042 208,083 56,036 - - -
PROJECTED NEW DEBT TERMS
43 Par Amount (Line 19) - - - - - - - - - - - -
44 Number of Years 10 10 10 10 10 10 10 10 10 10 10 10
45 Interest Rate 2.00% 2.50% 3.00% 3.00% 3.00% 3.00%3.00% 3.00% 3.00% 3.00% 3.00%
46 New Debt Levy 0 0 0 0 0 0 0 0 0 0 0 0
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Inflation Assumptions
1 Revenue (Non-property tax)2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%
2 Interest Earnings 1.50%1.50%1.50%1.50%1.50%1.50%1.50%1.50%1.50%1.50%1.50%1.50%
3 Expenses 3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%
4 CIP Inflation Factor 0.00%0.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%
2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033
Budget Projected
REVENUE
5 Property taxes 87,800 - 110,000 115,000 120,000 125,000 130,000 135,200 140,608 146,232 152,082 158,165
6 Debt service levy - 36,928 83,703 182,176 222,181 222,181 268,341 268,341 342,196 268,341
7 Intergovernmental - - - - - - - - - - - -
8 Sale of capital assets 19,500 - - - - - - - - -
9 Investment Income 1,015 1,030 1,045 1,061 1,077 1,093 1,109 1,126 1,143 1,160 1,177 1,195
10 Refunds and Reimbursements
11 Park Dedication Fees
12 Rental and lease income - - - - - - - - - - - -
13 Miscellaneous Revenue - 176,000 -
14 Total Revenue 88,815 196,530 111,045 152,989 204,780 308,269 353,290 358,507 410,092 415,733 495,454 427,701
EXPENSES
15 Total Current - - - - - - - - - - -
16 Debt service - - - 35,169 79,717 173,501 211,601 211,601 255,563 255,563 325,901 255,563
17 Total Capital Projects 198,500 101,967 515,738 533,658 910,000 478,999 57,901 446,166 449,767 699,128 - -
18 Total Expenses 198,500 101,967 515,738 568,827 989,717 652,500 269,502 657,767 705,329 954,691 325,901 255,563
19 Revenue Over / (Under) Expenses (109,685) 94,563 (404,693) (415,839) (784,937) (344,231) 83,788 (299,260) (295,237) (538,958) 169,554 172,138
OTHER FINANCING SOURCES / (USES)
20 Bond Proceeds 300,000 380,000 800,000 325,000 375,000 600,000 -
21 Transfers In
22 Transfers Out
23 Transfers Out-
24 Total Other Sources / (Uses)- - 300,000 380,000 800,000 325,000 - 375,000 - 600,000 - -
25 Prior Period Adjustments
26 Ending Fund Balance 206,748 147,651 42,958 7,119 22,182 2,951 86,739 162,480 (132,758)(71,715)97,838 269,976
CITY OF SCANDIA
Capital Improvement Plan
Equipment Replacement Fund 406
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Capital Project Name First Year Last Year Costs Budget Projected
27 312-08 Asphalt Patching Equipment Trailer (2008) 2025 39000 45,624
28 2000 Engine 1 - 5176 Replacement 2026 650000 850,000
29 2003 Tanker 5178 Tender 2 Replacement 2025 292000 10,000 100,879 286,787
30 201-14 Mack Single Axle w/Plow (2014) 2029 275000 375,000
31 202-17 Western Star Single Axle Truck/Plow (2017) 2027 350000 478,999
32 203-11 Mack Dump Truck/Plow Replacement (2011) 2023 325000 133,655 172,000
33 301-98 John Deere Motor Grader (1998) 2031 480000 607,353
34 302-22 JD-6410 Tractor w/flail attachments (2022) 2022 198500 198,500
35 308-12 New Holland Skid Steer (2012) 2024 65000 60,368
36 Motor Grader 2022 0
37 Wall Panel Joint Replacement Fire Hall-leaking 2023 16250 16,250
37 101-18 Chev 1/2 ton pickup (2018) 2028 44000 57,901
38 102-19 Dodge 3500 SRW w/plow (2019) 2029 52000 71,166
39 103-21 Dodge 2500 w/plow (2021) 2031 62000 91,775
40 104-13 Ford F550 w/sander, plow mount, compressor 2024 75000 96,527
41 1995 Utility 1misc purpose truck - replacement 2023 86500 63,202
42 2003 Boat & Trailer - water rescues 2023 38000 12,717 38,152
43 303-17 Kubota F39000 Mower w/Broom & Blower (2017) 2023 65000 63,000
44 303-17 Kubota F39000 Mower w/Broom & Blower (2017) 2030 75000 106,748
45 304-21 Kubota UTV (2021) 2030 16000 22,773
46 Addition Vehicle (truck for addl FT or PT staff) 2025 50500 60,000
47 Equipment Attachments (fit skid, loader, tractor) 2024 10000 22,956
48 PJ Skid Trailer 14,000 lbs (2012) 2025 17000 19,888
49 Rescue 5179 Replacement 2030 225000 320,245
50 Utility Trailer 3,500 lbs (1998)2025 8000 9,359
52 Total Capital Projects 3,514,750 198,500 101,967 515,738 533,658 910,000 478,999 57,901 446,166 449,767 699,128 - -
PROJECTED NEW DEBT TERMS KHM As of Date:6/27/2023
53 Par Amount (Line 14)- - 300,000 380,000 800,000 325,000 - 375,000 - 600,000 - -
54 Number of Years 10 10 10 10 10 10 10 10 10 10 10 10
55 Interest Rate 2.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%3.00%
56 New Debt Levy 0 0 0 36,928 83,703 182,176 222,181 222,181 268,341 268,341 342,196 268,341
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CITY OF SCANDIA
CAPITAL IMPROVEMENT PLAN
LOCAL ROAD IMPROVEMENT FUND 408
Inflation Assumptions
1 Revenue (Non-property tax)2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%
2 Interest Earnings 1.50%3.50%3.50%3.50%3.50%3.50%1.50%1.50%1.50%
3 Expenses 3.00%3.00%3.00%
4 CIP Inflation Factor 0.00%4.00%4.00%4.00%4.00%4.00%3.00%4.00%4.00%
2022 2023 2024 2025 2026 2027 2028 2029 2030
Actual Projected
REVENUE
5 Property taxes 216,860 212,012 375,000 400,000 416,000 432,640 449,946 467,943 486,661
6 Debt levy - 362,386 362,386 362,386 362,386 362,386 634,346
7 Special assessments
8 Investment Income 4,655 12,115 5,447 19,961 14,264 9,697 1,913 (8,816) (18,170)
9 Refunds and Reimbursements
10 Intergovermental 17,744
11 Rental and lease income - - - - - - - - -
12 Miscellaneous Revenue - - - - - - - - -
13 Total Revenue 239,259 224,127 380,447 782,347 792,650 804,723 814,245 821,514 1,102,837
EXPENSES
14 Total Current
15 Debt service 345,130 345,130 345,130 345,130 345,130 345,130
16 Principal
17 Interest
18 Total Capital Projects 595,069 815,000 3,940,745 600,000 578,000 609,120 1,184,365 1,100,000 1,100,000
19 Total Expenses 595,069 815,000 3,940,745 945,130 923,130 954,250 1,529,494 1,445,130 1,445,130
20 Revenue Over / (Under) Expenses (355,810) (590,873) (3,560,298) (162,782) (130,480) (149,526) (715,250) (623,616) (342,293)
OTHER FINANCING SOURCES / (USES)
21 Bond Proceeds 3,975,000 1,000,000
22 Bond premium
23 Transfers In
24 Transfers Out
25 Transfers Out-
25 Total Other Sources / (Uses)- - 3,975,000 - - - - 2,000,000
26 Prior Period Adjustments
27 Ending Fund Balance 896,739 155,620 570,322 407,539 277,060 127,533 (587,716)(1,211,332)446,375
CITY OF SCANDIA
Financial Management Plan
Local Road Improvement Fund 408
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Project Multiple 2022 2022 2023 2024 2025 2026 2027 2028 2029 2030
Capital Project Name Number Year?First Year Last Year Costs Actual Proposed Est.
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28 Soil Borings for 2024 & 2025 PW-061 2023 20000 25,000
29 Soil Borings for 2026 & 2027 PW-062 2025 20000 25,000
30 Soil Borings for 2028 & 2029 PW-069 2027 20000 28,000
31 Engineering Fees PW-070 100000 100,000 75,000 78,000 81,120 84,365
32 2022 Local Road Improvement Project PW-043 2022 707200 707,200
33 2023 Local Road Improvement Project PW-043 2023 671745 671,745
34 2023 Seal Coat & Crack Filling Project PW-050 2023 168374 168,374
2024 Seal Coat & Crack Filling PW-2024 455,000
35 2024 Local Road Improvement Project PW-056 2024 2755745 3,385,745
36 2025 Local Road Improvement Project PW-053 2025 540000 500,000
37 2025 Seal Coat & Crack Filling PW-052 2025 252000
38 2026 Local Road Improvement Project PW-035 2027 870000 500,000
39 2026 Seal Coat & Crack Filling Project PW-051 2027 335000
40 2027 Local Road Improvement Project PW-057 2028 900000 500,000
41 2027 Seal Coat & Crack Filling PW-060 2028 78000
42 2028 Local Road Improvement Project PW-036 2029 1000000 1,100,000
43 2029 Local Road Improvement Project PW-060 2030 860000 - 1,100,000
44 2030 Local Road Improvement Project PW-072 2031 880000 - 1,100,000
45 2031 Local Road Improvement Project PW-073 2032 1000000 -
46 Total Capital Projects 11,178,064 - 707,200 865,119 3,940,745 600,000 578,000 609,120 1,184,365 1,100,000 1,100,000
PROJECTED NEW DEBT TERMS
47 Par Amount (Line 14)- - - 3,975,000 - - - - 2,000,000
48 Number of Years 9 15 15 15 15 15 15 15 15 10
49 Interest Rate 2.00%2.50%3.50%5.00%5.00%5.00%5.00%5.00%5.00%
50 New Debt Levy 0 0 0 0 362,386 362,386 362,386 362,386 362,386 362,386
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CITY OF SCANDIA
SUMMARY BUDGET
6/20/2023
Inflation Assumptions 677,171 810,813 807,951 832,190 857,155 882,870
Revenue (Non-property tax) 1.00% 1.00% 1.00% 1.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
Interest Earnings 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25% 3.25%
Expenses 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00%
Audited Budgeted Budgeted Projected Projected Projected Projected Projected Projected Projected
GENERAL FUND 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
REVENUE
1 General Property Tax-Current 1,607,142 1,865,918 1,865,918 1,921,896 1,979,552 2,038,939 2,100,107 2,163,110 2,228,004 2,294,844
2 Other taxes 4,115 149,697 134,357 135,701 138,415 141,183 144,007 146,887 149,824 152,821
3 Intergovernmental 69,875 61,000 71,674 72,391 73,839 75,315 76,822 78,358 79,925 81,524
4 Grants 11,700
5 Franchise fees -
6 Licenses and Permits 182,640 161,100 179,100 180,891 184,509 188,199 191,963 195,802 199,718 203,713
7 Charges for Services 53,383 53,000 53,565 54,101 55,183 56,287 57,412 58,560 59,732 60,926
8 Fines & Forfeits 6,027 7,400 7,000 7,070 7,282 7,501 7,726 7,957 8,196 8,442
9 Interest Earnings 5,459 12,100 5,636 5,819 5,994 6,174 6,359 6,550 6,746 6,949
10 Miscellaneous Revenues 13,452 9,900 11,000 11,358 11,698 12,049 12,411 12,783 13,166 13,561
11 - - - - - - - - - -
12 Total Revenue 1,942,093 2,331,815 2,328,250 2,389,226 2,456,471 2,525,646 2,596,806 2,670,008 2,745,312 2,822,779
EXPENSES
13 Current
14 General Government 667,685 754,700 728,420 750,273 772,781 795,964 819,843 844,438 869,772 895,865
15 Public Safety 458,856 504,399 547,726 564,158 581,083 598,515 616,471 634,965 654,014 673,634
16 Public Works 636,351 732,450 826,092 850,875 876,401 902,693 929,774 957,667 986,397 1,015,989
17 Park and Recreation 171,884 175,060 206,193 212,379 218,750 225,313 232,072 239,034 246,205 253,592
18 Applied to Federal Grant
19 Federal fund returned
20 Capital Outlay - 150,000
21 -
22 -
23 -
24 -
25 Total Expenses 1,934,776 2,316,609 2,308,432 2,377,685 2,449,015 2,522,485 2,598,160 2,676,105 2,756,388 2,839,080
26 Revenues Over / (Under) Expenses 7,317 15,206 19,819 11,541 7,456 3,161 (1,354) (6,097) (11,076) (16,300)
38 Ending General Fund Balance (FB) 1,349,787 1,364,993 1,384,812 1,396,353 1,403,809 1,406,970 1,405,615 1,399,518 1,388,442 1,372,142
39 Restricted - - - - - - - - - -
40 Unassigned 1,349,787 1,364,993 1,384,812 1,396,353 1,403,809 1,406,970 1,405,615 1,399,518 1,388,442 1,372,142
41 Fund Balance as a % of Next Year's Expenditures (net of contingency) 58.3% 59.1% 58.2% 57.0% 55.7% 54.2% 52.5% 50.8% 48.9% #DIV/0!
Preliminary Projected
Levy by Type 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
41 General Fund Operating Tax Levy 1,607,142 1,865,918 1,865,918 1,921,896 1,979,552 2,038,939 2,100,107 2,163,110 2,228,004 2,294,844
42 Annual Increase 16.3% 16.1% 0.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
ANNUAL DEBT LEVIES BY BOND ISSUE-FUTURE
43
44 BONDS ISSUED 3,975,000 4,000,000 2,000,000
45 EQUIPMENT CERTIFICATES 300,000 380,000 800,000 325,000 375,000 600,000
46
47 -
48 Total Annual Debt Issuance - - 4,275,000 380,000 800,000 4,325,000 - 375,000 2,000,000 600,000
OTHER SPECIAL TAX LEVIES
49 Debt service
50 2013 Certificates 67,000 64,000
51 2015 Certificates
52 2017 Certificates 34,524
53 2018 GO Bonds 344,531 342,536 345,634 343,166 340,541 343,009 345,161 341,749 343,429 344,794
54 Capital Improvement Debt Levy
55 Equipment Replacement Debt Levy - 36,928 83,703 182,176 222,181 222,181 268,341 268,341
56 Local road improvement Debt Levy 362,386 362,386 362,386 362,386 362,386 634,346 634,346
57 Total Annual Debt Levies 446,055 406,536 345,634 742,480 786,630 887,571 929,729 926,316 1,246,115 1,247,480
ANNUAL CAPITAL PROJECTS LEVIES
58 Capital Improvement 217,336 293,791 235,000 120,000 130,000 135,200 140,608 146,232 152,082 158,165
59 Park Improvement 20,000 20,000 60,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000
60 Equipment Replacement 87,800 - 110,000 115,000 120,000 125,000 130,000 135,200 140,608 146,232
61 Local Road Improvement 216,860 212,012 375,000 400,000 416,000 432,640 449,946 467,943 486,661 506,128
62
63
64 EDA 8,000 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300 5,300
65
66
67 Total Other Special Levies 549,996 531,103 785,300 690,300 721,300 748,140 775,854 804,676 834,651 865,825
68 Total Tax Levy 2,603,193 2,803,557 2,996,852 3,354,676 3,487,482 3,674,650 3,805,689 3,894,102 4,308,770 4,408,149
69 Increase/(Decrease) in Total Tax Levy 14.67% 7.70% 6.89% 11.94% 3.96% 5.37% 3.57% 2.32% 10.65% 2.31%
70 Less: Fiscal Disparities (132,739) (123,279) (107,857) (104,864) (119,515) (123,860) (129,291) (132,539) (134,266) (147,531)
71 Net Levy to Taxpayers 2,470,454 2,680,278 2,888,995 3,249,812 3,367,968 3,550,790 3,676,399 3,761,564 4,174,503 4,260,618
72
73 Existing Tax Base 8,336,001 10,129,722 10,847,248 10,706,234 10,706,234 10,813,296 10,921,429 11,030,643 11,140,949 11,252,358
83 5.37% 21.52% 7.08% -1.30%
84 New Net Tax Capacity 0 0 0 0 0 0 0 0 0 0
85 Total Net Tax Capacity 8,336,001 10,129,722 10,847,248 10,706,234 10,706,234 10,813,296 10,921,429 11,030,643 11,140,949 11,252,358
86 Tax Rate on Tax Capacity 29.636% 26.460% 26.633% 30.354% 31.458% 32.837% 33.662% 34.101% 37.470% 37.864%
87 Tax Rate % Change 9.24063% -10.72% 0.66% 13.97% 3.64% 4.38% 2.51% 1.30% 9.88% 1.05%