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03.a Continued Road Discussion
1 Staff Report Date of Meeting: July 30, 2024, City Council Meeting To: Capital Investment Committee Members From: Kyle Morell, City Administrator Re: Staff Report ______________________________________________________________________________ 03. Continue Road Improvement Discussion I have put together a draft budget showing the City spending cash only for future road improvements. The summary budget provided shows the City allocating $1,903,054 of tax levy funds toward roads in 2025 and beyond. This breaks down to $1,200,000 in cash and $703,054 in debt service. This results in a 38% increase in the tax levy, or $1,156,871. The tax rate jumps from 26.633% to 37.818%, an increase of 41.99%. Also included are the following maps: 1. Paving History back to 2002 2. Seal Coating History back to 2010 3. Crack Sealing History back to 2015 4. Striping History back to 2018 5. Cost Summary 2015 - 2023 04. Discuss 2025 Capital Investment Projects and Beyond Colleen and I have attached the following two project lists: 1) Projects by Funding Source and Department 2) Projects by Year The list shows currently scheduled projects from 2024 through 2028. Each project includes a priority number from 1 to 5, which translates as follows: 1 – Urgent, High Priority 2 – High Priority 3 – Worthwhile 4 – Low Priority 5 – No Priority Given These reports are generated from an online portal, which we will be connected to at the meeting. This will allow us to change the projects as we discuss them. 2 Attachments: Draft CIP Fund Documents and Summary Budget 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 85,000 100,000 115,000 115,000 119,600 124,384 129,359 134,534 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 86,000 101,000 116,000 116,000 120,600 125,384 130,359 135,534 EXPENSES 15 Total Current - - - - - - - - - - - 16 Payables internet - - - - - - - - - - - 17 Debt service - - - - - - - - - - - 18 Total Capital Projects 296,733 198,059 182,525 183,041 588,856 14,000 135,000 143,705 208,135 109,251 618,083 19 Total Expenses 296,733 198,059 182,525 183,041 588,856 14,000 135,000 143,705 208,135 109,251 618,083 20 Revenue Over / (Under) Expenses (76,271) 98,032 53,975 (97,041) (487,856) 102,000 (19,000) (23,105) (82,751) 21,109 (482,550) OTHER FINANCING SOURCES / (USES) 21 Bond Proceeds 22 Transfers In - 8,000 - - - - - - - - - 23 Transfers Out to Sewer Fund (2,640) 24 Transfers Out- (150,000) 25 Total Other Sources / (Uses) - 5,360 (150,000) - - - - - - - - 26 accounts payable 27 Prior Period Adjustments 28 Ending Fund Balance 564,735 782,892 686,867 589,826 101,970 203,970 184,970 161,865 79,115 100,223 (246,793) CASH FLOW ANALYSISCITY OF SCANDIA CITY OF SCANDIA Capital Improvement Plan Capital Improvement Plan Capital Improvement Fund 401 Capital Improvement Fund 401 2022 2023 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 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 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 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 18,000 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 2017 Thermal Imaging Cameras (1of3) find hot spots 2031 9,733 13,853 57 Zoll Monitor/Defib 2031 51,239 58 Second Fire Station 2032 337,136 59 Community Center Design & Planning 2032 280,947 60 Air Containment Unit 2033 61 Community Center Improvements-Front Office + Equip Room 60,000 62 CIP placeholder - SERVER REPLACEMENT 2035 7,800 Total Capital Projects 296,733 7,476 198,059 182,525 183,041 588,856 14,000 135,000 143,705 208,135 109,251 618,083 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 - - - - - - - - - - - Capital Project OutlayCapital Project OutlayProject 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 40,000 40,000 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 40,066 40,066 50,066 50,066 50,066 50,066 50,066 50,066 EXPENSES 14 Total Current 15 Debt service 16 Total Capital Projects 48,113 333,739 150,000 300,000 25,000 64,042 - - 17 Total Expenses 48,113 333,739 150,000 300,000 25,000 64,042 - - - - - 18 Revenue Over / (Under) Expenses (9,419) (19,105) 59,066 (259,934) 15,066 (13,976) 50,066 50,066 50,066 50,066 50,066 OTHER FINANCING SOURCES / (USES) 19 Bond Proceeds 20 Transfers In 150,000 21 Transfers Out 8,000 22 Transfers Out- 22 Total Other Sources / (Uses)- 8,000 150,000 - - - - - - - - 23 Prior Period Adjustments 24 Ending Fund Balance 138,798 63,927 272,993 13,058 28,124 14,147 64,213 114,278 164,344 214,409 264,475 CITY OF SCANDIA Financial Management Plan Park Capital Improvement Fund 404 CASH FLOW ANALYSIS 2021 2016 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Capital Project Name Year Costs ACTUAL Proposed 25 25 Park Planning 2022 15000 10,500 4,500 26 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 150,000 300,000 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 - 48,113 333,739 150,000 300,000 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 0CAPITAL OUTLAYProject CAPITAL OUTLAY 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 - 110,000 100,000 110,000 120,000 125,000 130,000 135,200 140,608 146,232 152,082 6 Debt service levy - 98,474 135,401 135,401 135,401 172,329 196,947 233,875 307,730 233,875 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 88,815 196,530 111,045 199,535 246,478 256,494 261,510 303,455 333,290 375,643 455,139 387,151 EXPENSES 15 Total Current - - - - - - - - - - - 16 Debt service - - - 93,784 128,954 128,954 128,954 164,123 187,569 222,738 293,076 222,738 17 Total Capital Projects 198,500 101,967 1,523,083 286,787 132,583 25,000 457,901 486,166 449,767 759,737 - - 18 Total Expenses 198,500 101,967 1,523,083 380,571 261,537 153,954 586,855 650,288 637,335 982,475 293,076 222,738 19 Revenue Over / (Under) Expenses (109,685) 94,563 (1,412,038) (181,037) (15,058) 102,541 (325,344) (346,833) (304,045) (606,832) 162,063 164,414 OTHER FINANCING SOURCES / (USES) 20 Bond Proceeds 800,000 300,000 - 300,000 200,000 300,000 600,000 - 21 Transfers In 466,000 22 Transfers Out 23 Transfers Out- 24 Total Other Sources / (Uses)- - 1,266,000 300,000 - - 300,000 200,000 300,000 600,000 - - 25 Prior Period Adjustments 26 Ending Fund Balance 206,748 147,651 1,613 120,576 105,518 208,058 182,714 35,881 31,836 25,003 187,066 351,480 CITY OF SCANDIA Capital Improvement Plan Equipment Replacement Fund 406 CASH FLOW ANALYSIS 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Capital Project Name First Year Last Year Costs Budget Projected 27 312-08 Asphalt Patching Equipment Trailer (2008) 2025 39000 25,000 28 2000 Engine 1 - 5176 Replacement 2026 650000 806,000 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 415,000 31 202-17 Western Star Single Axle Truck/Plow (2017) 2028 350000 400,000 32 203-11 Mack Dump Truck/Plow Replacement (2011) 2023 325000 335,000 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 20,000 49 Rescue 5179 Replacement 2030 225000 320,245 50 Utility Trailer 3,500 lbs (1998) 2025 8000 10,000 51 2012 UTV & Trailer replacement off road rescue 2031 - - - - 42,583 - - - - 60,609 - - 52 Total Capital Projects 3,514,750 198,500 101,967 1,523,083 286,787 132,583 25,000 457,901 486,166 449,767 759,737 - - PROJECTED NEW DEBT TERMS KHM As of Date:6/27/2023 53 Par Amount (Line 14)- - 800,000 300,000 - - 300,000 200,000 300,000 600,000 - - 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 98,474 135,401 135,401 135,401 172,329 196,947 233,875 307,730 233,875Capital Equipment OutlayProject 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 1,200,000 1,248,000 1,297,920 1,349,837 1,403,830 1,400,000 6 Debt levy - 2018 GO Bond - 343,166 340,541 343,009 345,161 341,749 343,429 Debt levy - 2024 GO Bond 359,888 362,828 360,098 357,158 359,258 355,688 7 Special assessments 8 Investment Income 4,655 12,115 5,447 12,295 20,644 19,836 7,594 6,150 5,514 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 1,915,349 1,972,012 2,020,863 2,059,749 2,110,987 2,104,631 EXPENSES 14 Total Current 15 Debt service 16 2018 GO Bond 326,825 324,325 326,675 328,725 325,475 327,075 17 2024 GO Bond 342,750 345,550 342,950 340,150 342,150 18 Total Capital Projects 595,069 815,000 3,940,745 1,350,000 1,328,000 1,409,120 1,484,365 1,487,739 1,591,249 19 Total Expenses 595,069 815,000 3,940,745 1,676,825 1,995,075 2,081,345 2,156,040 2,153,364 2,260,474 20 Revenue Over / (Under) Expenses (355,810) (590,873) (3,560,298) 238,524 (23,063) (60,482) (96,290) (42,378) (155,843) OTHER FINANCING SOURCES / (USES) 21 Bond Proceeds 3,755,973 22 Bond premium 23 Transfers In 24 Transfers Out 25 Transfers Out- 25 Total Other Sources / (Uses)- - 3,755,973 - - - - 26 Prior Period Adjustments 27 Ending Fund Balance 896,739 155,620 351,295 589,819 566,756 506,274 409,983 367,605 211,762 CITY OF SCANDIA Financial Management Plan Local Road Improvement Fund 408 CASH FLOW ANALYSIS 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. 28 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 87,739 91,249 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 1,250,000 37 2025 Seal Coat & Crack Filling PW-052 2025 252000 38 2026 Local Road Improvement Project PW-035 2027 870000 1,250,000 39 2026 Seal Coat & Crack Filling Project PW-051 2027 335000 40 2027 Local Road Improvement Project PW-057 2028 900000 1,300,000 41 2027 Seal Coat & Crack Filling PW-060 2028 78000 42 2028 Local Road Improvement Project PW-036 2029 1000000 1,400,000 43 2029 Local Road Improvement Project PW-060 2030 860000 - 1,400,000 44 2030 Local Road Improvement Project PW-072 2031 880000 - 1,500,000 45 2031 Local Road Improvement Project PW-073 2032 1000000 - 46 Total Capital Projects 11,178,064 - 707,200 865,119 3,940,745 1,350,000 1,328,000 1,409,120 1,484,365 1,487,739 1,591,249 PROJECTED NEW DEBT TERMS 47 Par Amount (Line 14)- - - 3,635,000 - - - - 48 Number of Years 9 15 15 15 15 15 15 15 15 10 49 Interest Rate 2.00%2.50%3.87%5.00%5.00%5.00%5.00%5.00%5.00% 50 New Debt Levy 0 0 0 0 340,170 340,170 340,170 340,170 340,170 340,170Local Road Project OutlayProject CITY OF SCANDIA SUMMARY BUDGET 6/20/2023 Inflation Assumptions 810,813 807,951 832,190 857,155 882,870 Revenue (Non-property tax) 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% Expenses 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% 3.00% Budgeted Budgeted Projected Projected Projected Projected Projected Projected Projected GENERAL FUND 2023 2024 2025 2026 2027 2028 2029 2030 2031 REVENUE 1 General Property Tax-Current 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 149,697 134,357 135,701 138,415 141,183 144,007 146,887 149,824 152,821 3 Intergovernmental 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 161,100 179,100 180,891 184,509 188,199 191,963 195,802 199,718 203,713 7 Charges for Services 53,000 53,565 54,101 55,183 56,287 57,412 58,560 59,732 60,926 8 Fines & Forfeits 7,400 7,000 7,070 7,282 7,501 7,726 7,957 8,196 8,442 9 Interest Earnings 12,100 5,636 5,819 5,994 6,174 6,359 6,550 6,746 6,949 10 Miscellaneous Revenues 9,900 11,000 11,358 11,698 12,049 12,411 12,783 13,166 13,561 11 - - - - - - - - - 12 Total Revenue 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 754,700 728,420 750,273 772,781 795,964 819,843 844,438 869,772 895,865 15 Public Safety 504,399 547,726 564,158 581,083 598,515 616,471 634,965 654,014 673,634 16 Public Works 732,450 826,092 850,875 876,401 902,693 929,774 957,667 986,397 1,015,989 17 Park and Recreation 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 Total Expenses 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 24 Revenues Over / (Under) Expenses 15,206 19,819 11,541 7,456 3,161 (1,354) (6,097) (11,076) (16,300) 36 Ending General Fund Balance (FB) 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 37 Restricted - - - - - - - - - 38 Unassigned 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 Fund Balance as a % of Next Year's Expenditures (net of contingency) 59.1% 58.2% 57.0% 55.7% 54.2% 52.5% 50.8% 48.9% #DIV/0! Projected Levy by Type 2023 2024 2025 2026 2027 2028 2029 2030 2031 39 General Fund Operating Tax Levy 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 40 Annual Increase 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 41 42 BONDS ISSUED 3,635,000 43 EQUIPMENT CERTIFICATES 800,000 300,000 - - 300,000 200,000 300,000 600,000 44 45 46 Total Annual Debt Issuance - 4,435,000 300,000 - - 300,000 200,000 300,000 600,000 OTHER SPECIAL TAX LEVIES 47 Debt service 48 2025 Certificates 64,000 49 2024 Certificates 50 2024 GO Bonds 359,888 362,828 360,098 357,158 359,258 355,688 357,158 51 2018 GO Bonds 342,536 345,634 343,166 340,541 343,009 345,161 341,749 343,429 344,794 52 Capital Improvement Debt Levy 53 Equipment Replacement Debt Levy - 98,474 135,401 135,401 135,401 172,329 196,947 233,875 54 Local road improvement Debt Levy 57 Total Annual Debt Levies 406,536 345,634 801,527 838,770 838,507 837,720 873,335 896,064 935,826 ANNUAL CAPITAL PROJECTS LEVIES 58 Capital Improvement 293,791 235,000 85,000 100,000 115,000 115,000 119,600 124,384 129,359 59 Park Improvement 20,000 60,000 40,000 40,000 50,000 50,000 50,000 50,000 50,000 60 Equipment Replacement - 110,000 100,000 110,000 120,000 125,000 130,000 135,200 140,608 61 Local Road Improvement 212,012 375,000 1,200,000 1,248,000 1,297,920 1,349,837 1,403,830 1,400,000 1,456,000 62 63 64 EDA 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 531,103 785,300 1,430,300 1,503,300 1,588,220 1,645,137 1,708,730 1,714,884 1,781,267 68 Total Tax Levy 2,803,557 2,996,852 4,153,723 4,321,622 4,465,666 4,582,964 4,745,176 4,838,951 5,011,937 69 Increase/(Decrease) in Total Tax Levy 7.70% 6.89% 38.60% 4.04% 3.33% 2.63% 3.54% 1.98% 3.57% 70 Less: Fiscal Disparities (123,279) (107,857) (104,864) (148,900) (153,455) (157,015) (159,561) (163,680) (165,228) 71 Net Levy to Taxpayers 2,680,278 2,888,995 4,048,859 4,172,722 4,312,211 4,425,949 4,585,615 4,675,271 4,846,709 72 73 Existing Tax Base 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 21.52% 7.08% -1.30% 84 New Net Tax Capacity 0 0 0 0 0 0 0 0 0 85 Total Net Tax Capacity 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 26.460% 26.633% 37.818% 38.975% 39.879% 40.525% 41.572% 41.965% 43.073% 87 Tax Rate % Change -10.72% 0.66% 41.99% 3.06% 2.32% 1.62% 2.58% 0.95% 2.64%