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Option 1 of the Draft 2022 Scandia City Budget9/1/2021CITY OF SCANDIA 9/1/2021 Financial Management Plan Option I: Cash Funding, No Bonding Inflation Assumptions 531,272 586,043 634,802 665,770 664,685 678,858 699,223 Revenue (Non-property tax)2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00% Interest Earnings 1.00%1.25%1.50%1.50%1.50%1.50%1.50%1.50% Expenses 2.00%2.50%3.00%3.00%3.00%3.00%3.00%3.00% Actual Actual Adopted Preliminary GENERAL FUND 2017 2018 2019 2020 2021 2022 2023 2024 REVENUE 1 General Property Tax-Current 1,556,278 1,358,056 1,409,921 1,553,879 1,381,700 1,583,000 1,621,127 1,673,026 2 Other taxes 17,000 24,500 24,990 25,490 3 Intergovernmental 107,716 105,857 67,105 72,885 62,900 64,200 65,484 66,794 4 Grants 311,080 5 Franchise fees 5,104 6 Licenses and Permits 366,902 300,274 150,876 151,164 108,400 149,500 152,490 155,540 7 Charges for Services 63,886 5,917 66,979 43,276 58,600 51,200 52,224 53,268 8 Fines & Forfeits 8,392 9,517 7,831 7,561 8,100 7,000 7,140 7,283 9 Interest Earnings 12,958 12,560 21,631 11,463 17,900 15,900 16,139 16,381 10 Miscellaneous Revenues 38,023 15,411 12,223 18,879 18,900 16,900 11 - - - 12 Total Revenue 2,154,155 1,807,592 1,736,566 2,175,291 1,673,500 1,912,200 1,939,593 1,997,781 EXPENSES 13 Current 14 General Government 566,215 521,457 514,691 535,026 609,320 611,620 629,969 648,868 15 Public Safety 334,787 361,381 408,622 323,316 435,090 435,090 448,143 461,587 16 Public Works 665,123 517,139 624,818 568,500 688,590 683,490 703,995 725,115 17 Park and Recreation 99,791 107,916 120,523 133,534 163,200 152,900 157,487 162,212 18 Applied to Federal Grant 198,919 19 Federal fund returned 31,088 20 Capital Outlay - 10,026 5,754 23,337 6,000 16,000 21 - - - - 22 - - - - - - - 23 - - - - - - 24 - - - - - - - 25 Total Expenses 1,665,916 1,517,919 1,674,408 1,813,720 1,902,200 1,899,100 1,939,593 1,997,781 26 Revenues Over / (Under) Expenses 488,239 289,673 62,158 361,571 (228,700) 13,100 - - OTHER FINANCING SOURCES / (USES) 27 Transfers In - - 28 Contingency 29 Sale of Fixed Assets - - - - 30 Bond Proceeds - - - - - - 31 Transfer in 1,440 32 Transfer out to General Capital (200,000) 33 Transfer out to Local Road Improvement (80,000) 34 Transfers Out (523,200) (423,500) (444,962) (3,000) - - 35 Total Other Sources / (Uses)(523,200) (423,500) (444,962) (3,000) (278,560) - - - 36 37 Prior Period Adjustments 38 Ending General Fund Balance (FB)1,715,008 1,581,181 1,198,377 1,755,867 1,248,607 1,261,707 1,261,707 1,261,707 39 Restricted - - - - - - - 40 Unassigned 1,715,008 1,581,181 1,198,377 1,755,867 1,248,607 1,261,707 1,261,707 1,261,707 41 Fund Balance as a % of Next Year's Expenditures (net of contingency)66.1%92.3%65.7%65.1%63.2%61.3% Actual Projected 9/1/2021CITY OF SCANDIA 9/1/2021 Financial Management Plan Option I: Cash Funding, No Bonding Inflation Assumptions 531,272 586,043 634,802 665,770 664,685 678,858 699,223 Revenue (Non-property tax)2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00% Interest Earnings 1.00%1.25%1.50%1.50%1.50%1.50%1.50%1.50% Expenses 2.00%2.50%3.00%3.00%3.00%3.00%3.00%3.00% Actual Actual Adopted Preliminary GENERAL FUND 2017 2018 2019 2020 2021 2022 2023 2024 Actual Projected 2017 2018 2019 2020 2021 2022 2023 20241 41 General Fund Operating Tax Levy 1,545,600 1,349,820 1,342,592 1,484,700 1,381,700 1,583,000 1,621,127 1,673,026 42 Annual Increase -12.7%-0.5%10.6%-6.9%14.6%2.4%3.2% ANNUAL DEBT LEVIES BY BOND ISSUE-FUTURE 43 44 45 46 47 - - - - - - 48 Total Annual Debt Levies - - - - - - - OTHER SPECIAL TAX LEVIES 49 Debt service 50 2013 Certificates 68,000 66,752 68,816 72,831 68,220 66,000 64,000 - 51 2015 Certificates 48,739 47,566 48,996 45,670 52 2017 Certificates 37,884 37,418 36,695 35,909 34,524 53 2018 GO Bonds 346,120 343,534 341,456 344,531 342,536 345,634 54 55 Park Improvement 30,000 10,000 20,000 30,000 30,000 56 Equipment Replacement 30,000 30,000 30,000 130,000 30,000 300,000 70,000 57 Local Road Improvement 560,533 725,050 378,930 381,516 438,539 350,000 600,000 700,000 61 General Capital Improvement 30,000 100,000 250,000 300,000 350,000 62 63 EDA 5,000 5,000 5,000 5,000 5,000 8,000 8,000 8,000 64 65 - 66 Total Other Special Levies 712,272 912,252 915,280 945,246 1,129,124 1,103,055 1,644,536 1,503,634 67 Total Tax Levy 2,257,872 2,262,072 2,257,872 2,429,946 2,510,824 2,686,055 3,265,663 3,176,660 68 Increase/(Decrease) in Total Tax Levy 0.19%-0.19%7.62%3.33%6.98%21.58%-2.73% 69 Less: Fiscal Disparities (112,010)(121,125)(132,815)(133,843)(123,890)(118,798)(124,163)(146,092) 70 Net Levy to Taxpayers 2,145,862 2,140,947 2,125,057 2,296,103 2,386,934 2,567,257 3,141,500 3,030,568 71 72 Existing Tax Base 6,023,919 6,230,838 6,723,403 7,460,384 7,911,011 8,140,985 8,466,624 8,635,956 73 74 75 76 77 78 79 80 81 82 83 New Net Tax Capacity 0 0 0 0 0 0 0 0 84 Total Net Tax Capacity 6,023,919 6,230,838 6,723,403 7,460,384 7,911,011 8,140,985 8,466,624 8,635,956 85 Tax Rate on Tax Capacity 35.622%34.361%31.607%30.777%30.172%31.535%37.105%35.092% 86 Tax Rate % Change -3.54%-8.01%-2.62%-1.97%4.52%17.66%-5.42% 9/1/2021 720,200 741,806 764,060 2.00%2.00%2.00%2.00%2.00%2.00%2.00% 1.50%1.50%1.50%1.50%1.50%1.50%1.50% 3.00%3.00%3.00%3.00%3.00%3.00%3.00% 2025 2026 2027 2028 2029 2030 2031 1,726,546 1,831,737 1,863,651 1,942,340 2,002,859 2,065,264 2,084,613 26,000 26,520 27,050 27,591 28,143 28,706 29,280 68,130 69,492 70,882 72,300 73,746 75,221 76,725 158,651 161,824 165,060 168,361 171,729 175,163 178,666 54,334 55,421 56,529 57,660 58,813 59,989 61,189 7,428 7,577 7,729 7,883 8,041 8,202 8,366 16,626 16,876 17,129 17,386 17,647 17,911 18,180 - - - - - - - 2,057,714 2,169,446 2,208,029 2,293,520 2,360,975 2,430,455 2,457,018 668,334 688,384 709,035 730,306 752,215 774,782 798,025 475,435 489,698 504,389 519,520 535,106 551,159 567,694 746,868 769,274 792,352 816,123 840,606 865,825 891,799 167,078 172,090 177,253 182,571 188,048 193,689 199,500 - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,057,714 2,119,446 2,183,029 2,248,520 2,315,975 2,385,455 2,457,018 - 50,000 25,000 45,000 45,000 45,000 - - - - - - - - (50,000) (25,000) (45,000) (45,000) (45,000) - - - - - - - - - - - - - - - - - - (50,000) (25,000) (45,000) (45,000) (45,000) - 1,261,707 1,311,707 1,336,707 1,381,707 1,426,707 1,471,707 1,471,707 - - - - - - - 1,261,707 1,311,707 1,336,707 1,381,707 1,426,707 1,471,707 1,471,707 59.5%60.1%59.4%59.7%59.8%59.9%59.9% Projected 9/1/2021 720,200 741,806 764,060 2.00%2.00%2.00%2.00%2.00%2.00%2.00% 1.50%1.50%1.50%1.50%1.50%1.50%1.50% 3.00%3.00%3.00%3.00%3.00%3.00%3.00% 2025 2026 2027 2028 2029 2030 2031 Projected 2025 2026 2027 2028 2029 2030 2031 1,726,546 1,831,737 1,863,651 1,942,340 2,002,859 2,065,264 2,084,613 3.2%6.1%1.7%4.2%3.1%3.1%0.9% - - - - - - - 343,166 340,541 343,009 345,161 341,749 343,429 344,794 80,000 80,000 80,000 80,000 80,000 80,000 80,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 900,000 1,000,000 1,000,000 1,100,000 1,000,000 1,100,000 1,100,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 8,000 8,000 10,000 12,000 12,000 12,000 12,000 1,526,166 1,623,541 1,628,009 1,732,161 1,628,749 1,730,429 1,731,794 3,252,712 3,455,278 3,491,660 3,674,501 3,631,608 3,795,693 3,816,407 2.39%6.23%1.05%5.24%-1.17%4.52%0.55% (138,170)(139,214)(145,315)(143,767)(148,715)(143,823)(147,844) 3,114,542 3,316,064 3,346,344 3,530,734 3,482,893 3,651,870 3,668,563 8,808,675 8,984,849 9,164,546 9,347,837 9,534,794 9,725,490 9,920,000 0 0 0 0 0 0 0 8,808,675 8,984,849 9,164,546 9,347,837 9,534,794 9,725,490 9,920,000 35.358%36.907%36.514%37.771%36.528%37.550%36.982% 0.76%4.38%-1.07%3.44%-3.29%2.80%-1.51%