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Home My WebLink About5.a. execsum draft PA budgetEXECUTIVE SUMMARY Port Authority Date: July 19, 2016 AGENDA SECTION: AGENDA ITEM: Draft Budget Discussion New Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 5.b. ATTACHMENTS: Draft Budget Documents, June Revenue APPROVED BY: and Expenditures Worksheet ddj RECOMMENDATION: Discussion ISSUE In late spring all departments put together a draft budget. The Port Authority has its own budget although it is part of the overall general levy. The budget continues to anticipate funding of the Open to Business service, Greater MSP membership, and finance the Business Appreciation event. The biggest change in the budget was removal of the Buxton expenditure. This reduced the budget by $14,000. The existing status of the 2016 budget is also included. It illustrates that we are at the 50% mark for expenditures this year. Some of our expenses such as the administrative fees, Greater MSP dues and the Open to Business payments are front-ended in the year. RECOMMENDATION Staff is bringing this item to the Port Authority for discussion. If there are additional work program items the Port Authority wants to explore for 2017 which would affect the budget, these items should be discussed at this meeting. Page One 2017 BUDGET WORKSHEETS DOWNTOWN/BROCKWAY DISTRICT(0108) - REVENUES July 11, 20162017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- 242 31010.00Current Ad Valorem Taxes$0$0$0$0$0 MVHC Payments 242 31050.00Tax Increments660,130646,636720,963670,000800,000__________________________ 242 33400.00State Grants & Aids00000__________________________ 242 33425.00Other State Grants & Aids00000__________________________ 242 33620.00Other County Grants & Aids00000__________________________ 242 36210.00Interest Earnings - Investments826645978800800__________________________ 242 36215.00Interest Earnings148313900__________________________ 242 36220.00Rents & Royalties00000__________________________ 242 36230.00Other Revenue00000__________________________ 242 36260.00Contribution/Donation-Private00000__________________________ 242 39101.00Sale of General Fixed Assets0283,04515,00000__________________________ 242 39310.00Bond Proceeds00000__________________________ ------------------------------------------------------------------------------------------------ FUND TOTALS$660,971$930,409$737,080$670,800$800,800 =================================================== EXPENDITURES 2017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- 242 49042 01303.00Engineering Fees$0$0$0$0$0__________________________ 242 49042 01304.00Legal Fees00000__________________________ 242 49042 01319.00Other Professional Services16,51612,94214,91915,00015,000 County TIF Charges 242 49042 01522.00Building & Structure Purchases040,278000 CDA-Dahn Property Purchase 242 49042 01530.00Improvements Other Than Buildings00000__________________________ 242 49042 01533.00Improvements Other Than Buildings00000__________________________ 242 49042 01536.00Improvements Other Than Buildings0170,062000 Fiber in Business Park 242 49042 01538.00Improvements Other Than Buildings0206,434000 TH 3 Turn Lane Improvements 242 49042 01601.00Principal on Waterford PAYG52,95364,51569,16877,00071,300 Waterford Pay-As-You-Go 242 49042 01611.00Interest on Waterford PAYG84,17981,45378,08174,40072,000 Waterford Pay-As-You-Go 242 49042 01710.00Transfers400,000400,000450,000500,000550,000 P & I for 2008A & 2008B Issues ------------------------------------------------------------------------------------------------ FUND TOTALS$553,647$975,684$612,168$666,400$708,300 =================================================== Page One 2017 BUDGET WORKSHEETS PORT AUTHORITY - REVENUES July 11, 20162017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------- 201 31010.00Current Ad Valorem Taxes$58,000$58,000$58,000$58,000$58,000 Operating Levy 201 31050.00Tax Increments00000 Admin Fees Portion Only 201 32280.00Fiber License Fees0002,4002,400____________________________ 201 33130.00Federal Grants-CDBG00000____________________________ 201 33425.00Other State Grants & Aids0734,060287,09000 LCA Grant-Land/Bldg Acquisition 201 33620.00Other County Grants & Aids06,600000 Dakota Cty-South Gateway 201 34109.00Other Charges for Services00000 Genz-Ryan Tenant Utility Pymts 201 36210.00Interest Earnings - Investments504974100100 Interest Earned on CD's 201 36215.00Interest Earnings353358100100 Checking Interest & Misc 201 36230.00Contributions/Donations00000____________________________ 201 36260.00Other Revenue0763000____________________________ 201 36265.00Use of Reserve Funds00014,0000____________________________ 201 39101.00Sales of General Fixed Assets00000____________________________ ------------------------------------------------------------------------------------------ FUND TOTALS$58,086$799,505$345,222$74,600$60,600 ====================================================== EXPENDITURES 2017 2016Object2017 201320142015AdoptedDetailProposed Account # DescriptionActualActualActualBudgetAmountBudgetComments ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------- All Salary Costs Inclusive of Salary, Taxes, PERA & Benefits 201 46300 01103.00Part-Time Salaries & Benefits$6,079$5,511$11,171$0$0 Part-Time Intern 201 46300 99103.00Part-Time Salaries & Benefits2,5092,3053,0084,0004,000 Port Authority Members 201 46300 01303.00Engineering Fees0002,0002,000____________________________ 201 46300 01304.00Legal Fees1,6458,4224,9123,0005,000____________________________ 201 46300 01317.00General Fund Administrative Fees6,0006,0006,0006,0006,000 Yearly Fee Per Policy F-3 201 46300 01319.00Other Professional Services19,000____________________________ 201 46300 01319.01 Project Management Consultant0002,0002,000____________________________ 201 46300 01319.02 Marketing - REDE - City Share10,02010,00014,37310,00010,000 Twin Cities Marketing Initiative 201 46300 01319.03 County TIF Charges00000 Moved to TIF Fund 201 46300 01319.04 P/A Property Tax Payments00000____________________________ 201 46300 01319.05 Other Consultants0005,4007,000 Downtown Update 201 46300 01319.06 South Gateway Study011,553000 Dakota Cty-South Gateway 201 46300 01319.07 Buxton Project016,66716,66717,0000____________________________ 201 46300 01322.00Postage Costs4460000____________________________ 201 46300 01331.00Travel Expense00000____________________________ 201 46300 01349.00Other Advertising7,0949,21614,21710,00012,000 Additional Marketing 201 46300 01359.00Other Printing & Binding Costs09021003,0001,500____________________________ 201 46300 01365.00Workers Comp Insurance540530604500700 Commissioners 201 46300 01369.00Other Insurance3944094402,000500 Property Insurance 201 46300 01381.00Electric Utilities309190130500400 Business Park & Other Properties 201 46300 01383.00Gas Utilities00000 Other Properties 201 46300 01389.00Other Utility Services00000 Utility Fees 201 46300 01403.00Contracted Repairs & Maintenance0002,0002,000 Contracts for Fiber 201 46300 01433.00Dues & Subscriptions2,000 Prof Organizations/Journals 201 46300 01433.01 Professional Organizations/Journals1,8062,0882,3921,7002,000____________________________ 201 46300 01433.02 Foreign Trade Zone Commission00000____________________________ 201 46300 01437.00Conferences & Seminars4,2491,2777,3495,0005,000 Development/TIF/Miscellaneous 201 46300 01439.00Other Miscellaneous Charges4341720500500 Contingencies 201 46300 01521.00Building & Structure Purchases00000____________________________ 201 46300 01525.00Building & Structure Purchases0652,781287,09000 LCA Grant-Land/Bldg Acquisition 201 46300 01530.00Improvements Other Than Bldgs00000____________________________ 201 46300 01710.00Transfers0086,43700____________________________ ------------------------------------------------------------------------------------------ FUND TOTALS$41,525$728,022$454,890$74,600$60,600 ====================================================== 6-30-2016 03:00 PM CITY OF ROSEMOUNT PAGE: 1 REVENUE & EXPENSE REPORT - UNAUDITED AS OF: JUNE 30TH, 2016 201-PORT AUTHORITY FUND CURRENT CURRENT YEAR TO DATE BUDGET % OF REVENUES BUDGET PERIOD ACTUAL BALANCE BUDGET ________________________________________________________________________________________________________________ TAXES 201-31010.00 CURRENT AD VALOREM TAXES 58,000.00 0.00 0.00 58,000.00 0.00 TOTAL TAXES 58,000.00 0.00 0.00 58,000.00 0.00 LICENSES & PERMITS 201-32280.00 FIBER LICENSE FEES 2,400.00 0.00 300.00 2,100.00 12.50 TOTAL LICENSES & PERMITS 2,400.00 0.00 300.00 2,100.00 12.50 GRANTS & AIDS _____________ _____________ _____________ _____________ _______ CHARGES FOR SERVICES _____________ _____________ _____________ _____________ _______ SPECIAL ASSESSMENTS _____________ _____________ _____________ _____________ _______ MISCELLANEOUS REVENUES 201-36210.00 INTEREST EARNINGS 100.00 4.48 23.02 76.98 23.02 201-36215.00 INTEREST EARNINGS 100.00 3.58 17.98 82.02 17.98 201-36265.00 USE OF RESERVE FUNDS 14,000.00 0.00 0.00 14,000.00 0.00 TOTAL MISCELLANEOUS REVENUES 14,200.00 8.06 41.00 14,159.00 0.29 ________________________________________________________________________________________________________________ TOTAL REVENUES 74,600.00 8.06 341.00 74,259.00 0.46 ============= ============= ============= ============= ======= 6-30-2016 03:00 PM CITY OF ROSEMOUNT PAGE: 2 REVENUE & EXPENSE REPORT - UNAUDITED AS OF: JUNE 30TH, 2016 201-PORT AUTHORITY FUND PORT AUTHORITY CURRENT CURRENT YEAR TO DATE BUDGET % OF EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET ________________________________________________________________________________________________________________ PORT AUTH. OPERATING BDG ======================== PERSONAL SERVICES 201-46300-01-103.00 PART-TIME EMPLOYEES - REG 0.00 495.00 5,103.00 ( 5,103.00) 0.00 201-46300-01-122.00 FICA CONTRIBUTIONS 0.00 30.69 316.40 ( 316.40) 0.00 201-46300-01-125.00 MEDICARE CONTRIBUTIONS 0.00 7.18 74.03 ( 74.03) 0.00 TOTAL PERSONAL SERVICES 0.00 532.87 5,493.43 ( 5,493.43) 0.00 SUPPLIES ___________________________________________________________________ OTHER SERVICES & CHARGES 201-46300-01-303.00 ENGINEERING FEES 2,000.00 0.00 0.00 2,000.00 0.00 201-46300-01-304.00 LEGAL FEES 3,000.00 0.00 3,260.75 ( 260.75) 108.69 201-46300-01-317.00 GEN'L FUND ADMIN FEES 6,000.00 0.00 6,000.00 0.00 100.00 201-46300-01-319.01 PROJECT MANAGEMENT CONSUL 2,000.00 0.00 0.00 2,000.00 0.00 201-46300-01-319.02 MARKETING 10,000.00 0.00 10,000.00 0.00 100.00 201-46300-01-319.05 OTHER CONSULTANTS 5,400.00 0.00 0.00 5,400.00 0.00 201-46300-01-319.07 BUXTON PROJECT 17,000.00 0.00 0.00 17,000.00 0.00 OTHER PROFESSIONAL SERV 34,400.00 0.00 10,000.00 24,400.00 29.07 201-46300-01-349.00 OTHER ADVERTISING 10,000.00 0.00 6,701.05 3,298.95 67.01 201-46300-01-359.00 OTHER PRINTING & BINDING 3,000.00 0.00 208.14 2,791.86 6.94 201-46300-01-365.00 WORKMEN'S COMP INSURANCE 500.00 0.00 605.91 ( 105.91) 121.18 201-46300-01-369.00 OTHER INSURANCE 2,000.00 0.00 627.92 1,372.08 31.40 201-46300-01-381.00 ELECTRIC UTILITIES 500.00 45.28 156.87 343.13 31.37 TOTAL OTHER SERVICES & CHARGES 61,400.00 45.28 27,560.64 33,839.36 44.89 OTHER SERV & CHGS (CONT) 201-46300-01-403.00 CONTRACTED R & M-OTHER IM 2,000.00 0.00 0.00 2,000.00 0.00 201-46300-01-433.01 PROF ORGANIZATIONS/JOURNA 1,700.00 0.00 625.00 1,075.00 36.76 201-46300-01-437.00 CONFERENCES & SEMINARS 5,000.00 221.40 605.40 4,394.60 12.11 201-46300-01-439.00 OTHER MISCELLANEOUS CHARG 500.00 0.00 345.10 154.90 69.02 TOTAL OTHER SERV & CHGS (CONT) 9,200.00 221.40 1,575.50 7,624.50 17.13 CAPITAL OUTLAY ACCOUNTS ___________________________________________________________________ ________________________________________________________________________________________________________________ TOTAL PORT AUTH. OPERATING BDG 70,600.00 799.55 34,629.57 35,970.43 49.05 6-30-2016 03:00 PM CITY OF ROSEMOUNT PAGE: 3 REVENUE & EXPENSE REPORT - UNAUDITED AS OF: JUNE 30TH, 2016 201-PORT AUTHORITY FUND PORT AUTHORITY CURRENT CURRENT YEAR TO DATE BUDGET % OF EXPENDITURES BUDGET PERIOD ACTUAL BALANCE BUDGET ________________________________________________________________________________________________________________ PORT AUTH. BOARD MEMBERS ======================== PERSONAL SERVICES 201-46300-99-103.00 PART-TIME EMPLOYEES - REG 4,000.00 0.00 560.00 3,440.00 14.00 201-46300-99-122.00 FICA CONTRIBUTIONS 0.00 0.00 21.70 ( 21.70) 0.00 201-46300-99-125.00 MEDICARE CONTRIBUTIONS 0.00 0.00 7.90 ( 7.90) 0.00 TOTAL PERSONAL SERVICES 4,000.00 0.00 589.60 3,410.40 14.74 ________________________________________________________________________________________________________________ TOTAL PORT AUTH. BOARD MEMBERS 4,000.00 0.00 589.60 3,410.40 14.74 ________________________________________________________________________________________________________________ TOTAL PORT AUTHORITY 74,600.00 799.55 35,219.17 39,380.83 47.21 ________________________________________________________________________________________________________________ TOTAL EXPENDITURES 74,600.00 799.55 35,219.17 39,380.83 47.21 ________________________________________________________________________________________________________________ REVENUES OVER/(UNDER) EXPENDITURES 0.00 ( 791.49)( 34,878.17) 34,878.17 0.00 ============= ============= ============= ============= ======= OTHER FINANCING SOURCES (USES) OTHER FINANCING SOURCES _____________ _____________ _____________ _____________ _______ OTHER FINANCING (USES) _____________ _____________ _____________ _____________ _______ ________________________________________________________________________________________________________________ REVENUE & OTHER SOURCES OVER/ (UNDER) EXPENDITURES & OTHER (USES) 0.00 ( 791.49)( 34,878.17) 34,878.17 0.00 *** END OF REPORT ***