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Home My WebLink About4.a. 2013 Draft Budget 4 ROSEMOUNT EXECUTIVE SUMMARY PORT AUTHORITY Port Authority Date: June 5, 2012 AGENDA ITEM: 2013 Draft Budget AGENDA SECTION: Discussion PREPARED BY: Kim Lindquist, Community Development AGENDA NO. 4.a Director ATTACHMENTS: Budget Materials APPROVED BY: RECOMMENDED ACTION: Motion to Approve Draft 2013 Port Authority Budget ISSUE Staff has begun work on the various portions of the 2013 budget for initial presentation to the Council at their worksession in June. The 2013 Port Authority budget has been developed based upon the existing programs and expenses of previous years. Aside from a slight reduction in printing and binding costs, the draft 2013 budget mirrors the adopted 2012 budget. The 2013 budget continues to provide for participation in the Greater MSP regional marketing effort. There is also money available within the budget should the Port Authority, along with Dakota County and the other cities, move forward with the Metropolitan Consortium of Community Developers program (MCCD). There continues to be funds for differing marketing initiatives, the business appreciation lunch, and some minor legal and engineering work. Staff anticipates looking to update the Downtown market study in the next year or so and there should be enough funds available for the project, if combined with funds remaining in 2012. There are no new initiatives anticipated in the budget although the amount of funds expended for marketing per year varies greatly depending upon the activities. Therefore there is flexibility in the budget should opportunities arise over the course of the year. RECOMMENDATION Review the draft budget and make any modifications. If acceptable as is, motion to approve the draft budget. PORT AUTHORITY GENERAL ADMINISTRATIVE The Rosemount Port Authority is the successor to the Rosemount Housing and Redevelopment Authority (HRA) and the Rosemount Economic Development Authority (EDA). As such, the Port Authority is responsible for both redevelopment and economic development activities in the City. The Port Authority concentrates much of its activity on the development of the Rosemount Business Park and on the redevelopment of downtown Rosemount. The Port Authority will continue to work on other development and redevelopment projects related to commercial and industrial development. Page One 2013 BUDGET WORKSHEETS PORT AUTHORITY REVENUES June 5, 2012 2012 2013 Object 2013 2009 2010 2011 Adopted Detail Proposed Account Description Actual Actual Actual Budget Amount Budget Comments 201 31010.00 Current Ad Valorem Taxes $50,000 $50,000 $58,600 $58,600 $58,000 Operating Levy 201 31050.00 Tax Increments 0 0 0 0 0 Admin Fees Portion Only 201 33130.00 Federal Grants -CDBG 0 0 0 0 0 201 33425.00 Other State Grants Aids 4,474 0 0 0 0 LCDA Downtown Grant 201 34109.00 Other Charges for Services 605 0 0 0 0 Genz -Ryan Tenant Utility Pymts 201 36210.00 Interest Earnings Investments 824 10 81 500 100 Interest Earned on CD's 201 36215.00 Interest Earnings 265 320 39 200 100 Checking Interest Misc 201 36230.00 Contributions /Donations 0 0 0 0 0 201 36260.00 Other Revenue 0 0 575 0 0 201 36265.00 Use of Reserve Funds 0 0 0 0 0 201 39101.00 Sales of General Fixed Assets 0 0 0 0 0 FUND TOTALS $56,168 $50,330 $59,295 $59,300 $58,200 EXPENDITURES 2012 2013 Object 2013 2009 2010 2011 Adopted Detail Proposed Account Description Actual Actual Actual Budget Amount Budget Comments All Salary Costs Inclusive of 201 46300 99 103.00 Part-Time Salaries Benefits $2,468 $3,433 $3,868 $5,000 $5,000 Salary, Taxes, PERA Benefits Port Authority Members 201 46300 01 303.00 Engineering Fees 1,900 0 4,400 2,000 2,000 201 46300 01 304.00 Legal Fees 565 714 900 3,000 3,000 201 46300 01 317.00 General Fund Administrative Fees 6,000 6,000 6,000 6,000 6,000 Yearly Fee Per Policy F -3 201 46300 01 319.00 Other Professional Services 17,400 201 46300 01 319.01 Project Management Consultant 0 0 0 2,000 2,000 201 46300 01 319.02 Marketing REDE City Share 416 7,741 10,853 10,000 10,000 Twin Cities Marketing Initiative 201 46300 01 319.03 County TIF Charges 10,112 10,564 0 0 0 201 46300 01 319.04 P/A Property Tax Payments 0 0 0 0 0 201 46300 01 319.05 Other Consultants 0 0 0 5,400 5,400 201 46300 01 319.07 Central Park Survey Work 1,603 0 0 0 0 201 46300 01 322.00 Postage Costs 241 132 87 800 800 201 46300 01 331.00 Travel Expense 0 291 0 0 0 201 46300 01 349.00 Other Advertising 4,644 401 3,972 11,800 11,800 Additional Marketing 201 46300 01 359.00 Other Printing Binding Costs 365 855 321 3,100 2,000 201 46300 01 365.00 Workers Comp Insurance 488 538 521 500 500 Commissioners 201 46300 01 369.00 Other Insurance 5,154 5,079 2,282 2,000 2,000 Property Insurance 201 46300 01 381.00 Electric Utilities 479 193 223 500 500 Business Park Other Properties 201 46300 01 383.00 Gas Utilities 1,279 0 0 0 0 Other Properties 201 46300 01 389.00 Other Utility Services 239 0 0 0 0 Utility Fees 201 46300 01 403.00 Contracted Repairs Maintenance 0 0 0 0 0 201 46300 01 433.00 Dues Subscriptions 1,700 Prof Organizations /Journals 201 46300 01 433.01 Professional Organizations /Journ< 1,674 1,483 2,380 1,700 1,700 201 46300 01 433.02 Foreign Trade Zone Commission 0 0 0 0 0 201 46300 01 437.00 Conferences Seminars 2,731 3,034 4,125 5,000 5,000 Development/TIF /Miscellaneous 201 46300 01 439.00 Other Miscellaneous Charges 200 86 48 500 500 Contingencies 201 46300 01 521.00 Building Structure Purchases 0 0 0 0 0 201 46300 01 525.00 Building Structure Purchases 0 0 0 0 0 201 46300 01 530.00 Improvements Other Than Bldgs 0 0 0 0 0 201 46300 01 710.00 Transfers 0 0 0 0 0 FUND TOTALS $40,559 $40,543 $39,979 $59,300 $58,200 Page One 2013 BUDGET WORKSHEETS DOWNTOWN /BROCKWAY DISTRICT(0108) REVENUES June 5, 2012 2012 2013 Object 2013 2009 2010 2011 Adopted Detail Proposed Account Description Actual Actual Actual Budget Amount Budget Comments 242 31010.00 Current Ad Valorem Taxes $21,420 $37,968 $46,811 $0 $0 MVHC Payments 242 31050.00 Tax Increments 357,931 410,286 576,675 470,000 554,000 242 33400.00 State Grants Aids 242,085 1,876 0 0 0 242 33425.00 Other State Grants Aids 12,551 139,965 0 0 0 242 33620.00 Other County Grants Aids 0 0 0 0 0 242 36210.00 Interest Earnings Investments 37 73 724 0 0 242 36215.00 Interest Earnings 294 244 130 0 0 242 36220.00 Rents Royalties 875 2,425 0 0 0 242 36230.00 Other Revenue 0 0 0 0 0 242 36260.00 Contribution /Donation- Private 0 125 0 0 0 242 39310.00 Bond Proceeds 0 0 0 0 0 FUND TOTALS $635,193 $592,961 $624,339 $470,000 $554,000 EXPENDITURES 2012 2013 Object 2013 2009 2010 2011 Adopted Detail Proposed Account Description Actual Actual Actual Budget Amount Budget Comments 242 49042 01 303.00 Engineering Fees $42,777 $3,690 $0 $0 $0 242 49042 01 304.00 Legal Fees 128 0 0 0 0 242 49042 01 319.00 Other Professional Services 18,129 4,730 16,053 15,000 20,000 County TIF Charges (in 2011) 242 49042 01 522.00 Building Structure Purchases 57,700 0 103 0 0 242 49042 01 530.00 Improvements Other Than Buildings 160,445 0 0 0 0 242 49042 01 533.00 Waterford Grant Reimbursement 0 139,965 0 0 0 242 49042 01 601.00 Principal on Waterford PAYG 0 0 19,108 48,000 44,000 Waterford Pay -As- You -Go 242 49042 01 611.00 Interest on Waterford PAYG 0 0 63,880 72,000 90,000 Waterford Pay -As- You -Go 242 49042 01 710.00 Transfers 420,000 280,000 350,000 335,000 400,000 P I for 2008A 2008B Issues FUND TOTALS $699,178 $428,385 $449,144 $470,000 $554,000