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Home My WebLink About4.a. Approval of Port Authority Budget EXECUTIVE SUMMARY Port Authority Date: November 21, 2017 AGENDA ITEM: Draft Budget Discussion AGENDA SECTION: New Business PREPARED BY: Kim Lindquist, Deputy Director AGENDA NO. 4.a. ATTACHMENTS: Draft Budget APPROVED BY: LJM RECOMMENDATION: Motion to Approve Budget 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 City’s general levy. There is one substantive change to the budget which is to include $1,500 for fiber contracts. The contract is to assist with any maintenance or conducting a “locate” that might be necessary in the Business Park area, where the City’s fiber is located. Minor changes include adding $500 to cover the projected increase in the Open to Business program, and an increase to engineering to allow for minor engineering work if necessary. Revenues for the budget come from the city’s operating levy with a minor amount from fiber license fees and interest earned. The City continues to take in funding to assist in pay for the Downtown TIF district. Monies are used to pay off bonds or in the case of the Waterford project, repay taxes paid on the property. The tax revenue coming from within the TIF district is projected to cover the bond payment for 2018 and in the near future. RECOMMENDATION The entire City budget will be brought before the Council at their first meeting in December. The Port Authority is being asked to approve their budget prior to final Council action. Page One 2018 BUDGET WORKSHEETS PORT AUTHORITY - REVENUES November 21, 2017 2018 2017 Object 2018 2014 2015 2016 Adopted Detail Proposed Account # Description Actual Actual Actual Budget Amount Budget Comments -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 201 31010.00 Current Ad Valorem Taxes $58,000 $58,000 $58,000 $58,000 $60,000 Operating Levy 201 31050.00 Tax Increments 0 0 0 0 0 Admin Fees Portion Only 201 32280.00 Fiber License Fees 0 0 2,000 2,400 2,400 _____________________________ 201 33130.00 Federal Grants-CDBG 0 0 0 0 0 _____________________________ 201 33425.00 Other State Grants & Aids 734,060 287,090 0 0 0 LCA Grant-Land/Bldg Acquisition 201 33620.00 Other County Grants & Aids 6,600 0 0 0 0 Dakota Cty-South Gateway 201 34109.00 Other Charges for Services 0 0 0 0 0 Genz-Ryan Tenant Utility Pymts 201 36210.00 Interest Earnings - Investments 49 74 55 100 100 Interest Earned on CD's 201 36215.00 Interest Earnings 33 58 76 100 100 Checking Interest & Misc 201 36230.00 Contributions/Donations 0 0 0 0 0 _____________________________ 201 36260.00 Other Revenue 763 0 0 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 $799,505 $345,222 $60,131 $60,600 $62,600 ====================================================== EXPENDITURES 2018 2017 Object 2018 2014 2015 2016 Adopted Detail Proposed Account # Description Actual Actual Actual Budget Amount Budget Comments -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- All Salary Costs Inclusive of Salary, Taxes, PERA & Benefits 201 46300 01 103.00 Part-Time Salaries & Benefits $5,511 $11,171 $5,752 $0 $0 Part-Time Intern 201 46300 99 103.00 Part-Time Salaries & Benefits 2,305 3,008 2,467 4,000 4,000 Port Authority Members 201 46300 01 303.00 Engineering Fees 0 0 2,936 2,000 3,000 _____________________________ 201 46300 01 304.00 Legal Fees 8,422 4,912 3,261 5,000 4,000 _____________________________ 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 19,000 _____________________________ 201 46300 01 319.01 Project Management Consultant 0 0 0 2,000 2,000 _____________________________ 201 46300 01 319.02 Marketing - REDE - City Share 10,000 14,373 10,000 10,000 10,000 Greater MSP 201 46300 01 319.04 P/A Property Tax Payments 0 0 0 0 0 _____________________________ 201 46300 01 319.05 Other Consultants 0 0 700 7,000 7,000 Downtown Update 201 46300 01 319.06 Grant Reimbursement Expenses 11,553 0 0 0 0 _____________________________ 201 46300 01 319.07 Buxton 16,667 16,667 0 0 0 _____________________________ 201 46300 01 322.00 Postage Costs 0 0 0 0 0 _____________________________ 201 46300 01 331.00 Travel Expense 0 0 0 0 0 _____________________________ 201 46300 01 349.00 Other Advertising 9,216 14,217 11,027 12,000 12,500 Additional Marketing Opportunities 201 46300 01 359.00 Other Printing & Binding Costs 902 100 637 1,500 900 _____________________________ 201 46300 01 365.00 Workers Comp Insurance 530 604 616 700 700 Commissioners 201 46300 01 369.00 Other Insurance 409 440 696 500 600 Property Insurance 201 46300 01 381.00 Electric Utilities 190 130 321 400 400 Business Park & Other Properties 201 46300 01 383.00 Gas Utilities 0 0 0 0 0 Other Properties 201 46300 01 389.00 Other Utility Services 0 0 0 0 2,000 Utility Fees / Fiber Maintenance 201 46300 01 403.00 Contracted Repairs & Maintenance 0 0 0 2,000 2,000 Contracts for Fiber 201 46300 01 433.00 Dues & Subscriptions 2,000 Prof Organizations/Journals 201 46300 01 433.01 Professional Organizations/Journa 2,088 2,392 1,671 2,000 2,000 _____________________________ 201 46300 01 433.02 Foreign Trade Zone Commission 0 0 0 0 0 _____________________________ 201 46300 01 437.00 Conferences & Seminars 1,277 7,349 1,428 5,000 5,000 Development/TIF/Miscellaneous 201 46300 01 439.00 Other Miscellaneous Charges 172 0 443 500 500 Contingencies 201 46300 01 521.00 Building & Structure Purchases 0 0 0 0 0 _____________________________ 201 46300 01 525.00 Building & Structure Purchases 652,781 287,090 24,979 0 0 LCA Grant-Land/Bldg Acquisition 201 46300 01 530.00 Improvements Other Than Bldgs 0 0 0 0 0 _____________________________ 201 46300 01 710.00 Transfers 0 86,437 0 0 0 _____________________________ ------------------------------------------------------------------------------------------ FUND TOTALS $728,022 $454,890 $72,931 $60,600 $62,600 ====================================================== Page One 2018 BUDGET WORKSHEETS DOWNTOWN/BROCKWAY DISTRICT(0108) - REVENUES November 21, 2017 2018 2017 Object 2018 2014 2015 2016 Adopted Detail Proposed Account # Description Actual Actual Actual Budget Amount Budget Comments --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 242 31010.00 Current Ad Valorem Taxes $0 $0 $0 $0 $0 MVHC Payments 242 31050.00 Tax Increments 646,636 720,963 794,268 800,000 800,000 __________________________ 242 33400.00 State Grants & Aids 0 0 0 0 0 __________________________ 242 33425.00 Other State Grants & Aids 0 0 0 0 0 __________________________ 242 33620.00 Other County Grants & Aids 0 0 0 0 0 __________________________ 242 36210.00 Interest Earnings - Investments 645 978 1,961 800 800 __________________________ 242 36215.00 Interest Earnings 83 139 539 0 0 __________________________ 242 36220.00 Rents & Royalties 0 0 0 0 0 __________________________ 242 36230.00 Other Revenue 0 0 0 0 0 __________________________ 242 36260.00 Contribution/Donation-Private 0 0 0 0 0 __________________________ 242 39101.00 Sale of General Fixed Assets 283,045 15,000 308,161 0 0 __________________________ 242 39310.00 Bond Proceeds 0 0 0 0 0 __________________________ ------------------------------------------------------------------------------------------------ FUND TOTALS $930,409 $737,080 $1,104,929 $800,800 $800,800 =================================================== EXPENDITURES 2018 2017 Object 2018 2014 2015 2016 Adopted Detail Proposed Account # Description Actual Actual Actual Budget Amount Budget Comments --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 242 49042 01 303.00 Engineering Fees $0 $0 $0 $0 $0 __________________________ 242 49042 01 304.00 Legal Fees 0 0 0 0 0 __________________________ 242 49042 01 319.00 Other Professional Services 12,942 14,919 12,438 15,000 15,000 County TIF Charges 242 49042 01 522.00 Building & Structure Purchases 40,278 0 0 0 0 CDA-Dahn Property Purchase 242 49042 01 530.00 Improvements Other Than Buildings 0 0 0 0 0 __________________________ 242 49042 01 533.00 Improvements Other Than Buildings 0 0 0 0 0 __________________________ 242 49042 01 536.00 Improvements Other Than Buildings 170,062 0 0 0 0 Fiber in Business Park 242 49042 01 538.00 Improvements Other Than Buildings 206,434 0 0 0 0 TH 3 Turn Lane Improvements 242 49042 01 601.00 Principal on Waterford PAYG 64,515 69,168 67,894 71,300 80,000 Waterford Pay-As-You-Go 242 49042 01 611.00 Interest on Waterford PAYG 81,453 78,081 74,709 72,000 68,000 Waterford Pay-As-You-Go 242 49042 01 710.00 Transfers 400,000 450,000 500,000 550,000 600,000 P & I for 2008A & 2015A Issues ------------------------------------------------------------------------------------------------ FUND TOTALS $975,684 $612,168 $655,041 $708,300 $763,000 ===================================================