10-14-13 CC WS Mtg AgendaP
CITY OF SHOREWOOD 5755 COUNTRY CLUB ROAD
CITY COUNCIL WORK SESSION COUNCIL CHAMBERS
MONDAY, OCTOBER 14, 2013 6:00 P.M.
AGENDA
1. CONVENE CITY COUNCIL WORK SESSION
A. Roll Call
Mayor Zerby _____
Hotvet _____
Siakel _____
Sundberg _____
Woodruff _____
B. Review Agenda
ATTACHMENTS
2. 2014 CIP AND ENTERPRISE BUDGETS Finance Director’s
memo
3. ADJOURN
#2
MEETING TYPE
City of Shorewood Council Meeting Item
Work Session
Title / Subject: 2014 CIP and Enterprise Budgets
Meeting Date: October 14, 2013
Prepared by: Bruce DeJong, Finance Director
Reviewed by: Bill Joynes, City Administrator
Larry Brown, Public Works Director
Paul Hornby, City Engineer
Jean Panchyshyn, City Clerk
Attachments: Trail CIP
Capital & Enterprise Fund Balance Sheets
2013 CIP Project Status
Policy Consideration:
How should the City of Shorewood prepare its Capital Improvement Plan (CIP) and budget for 2014?
Background: Staff would like to start the conversation regarding the CIP and enterprise fund budgets
for 2014. There are many challenges in this regard as we run into low fund balances in many of the
funding sources for trails, parks, and equipment. This will necessitate transfers from other sources
available primarily in the enterprise funds from the Water or Sewer fund balances.
The trail costs are the major expenditures that we have planned in the next several years. The cost
estimates have been updated based on experience with the two projects constructed this year and the
feasibility report for Galpin Blvd.
Estimated costs for committed projects:
Smithtown Road West $1,460,000
County Road 19 $80,397
Excelsior Blvd $180,000
$1,720,397
Projects in planning phase:
Galpin Blvd $906,800
Mill St $735,000
Smithtown Road East $938,750
$2,580,550
Current 12/31/12 cash $1,663,908
Funding Gap ($2,637,039)
Additional Potential Funding Sources:
House Sale Proceeds $288,596
Storm Water - 25% of project costs $611.387
MSA Cash & Allocations $1,098,044 (includes estimated MSA through 2016)
$1,998,027
Transfers from Enterprise Funds:
Water $3,000,000
Sewer $2,000,000
The primary challenge in the Park Improvement Fund is deciding what to do in Badger Park. The Park
Commission has recommended that Badger Park be reoriented which will require significant changes at
an estimated price of about $435,000. Highlights of the plan include elimination of the current hockey
rink to accommodate a reorientation of the football field, changing the access and parking at the
northeast part of the park near the Southshore Center, new play equipment, removal of the warming
house, construction of a park shelter, and installation of a trail or walking path. This will require
significant outside funding as the Park Improvement Fund is estimated to have only $123,000 in fund
balance at year end 2013 - $180,000 in available cash less about $57,000 of remaining project costs for
2013 projects. The modifications could also be staged over several years instead of one large project.
That would not necessarily reduce the total cost, but the annual resources needed could be minimized.
The Equipment Replacement Fund will require additional resources to cover the unplanned replacement
of both the loader in 2012 and the sweeper in 2013. Those replacements point out that the schedule
has been stretched out beyond a reasonable life expectancy on larger pieces of equipment. We will
present the equipment CIP at a future meeting but the current resources are inadequate to cover the
expected costs.
The General Fund levy will need to be increased at approximately 2-3% for the next several years just to
maintain our current level of service. The levy is capped this year at 3% but the tax levy could be
increased in later years to help finance projects.
Financial or Budget Considerations:
The challenge is to determine the most acceptable financing method for the projects the City Council
wants to undertake. There are resources available to pay for many of the contemplated projects, but
the timing of those projects and the specific funding is debatable since there is no one “right way” to
cover these costs.
The enterprise funds are being reviewed to determine appropriate rates to cover all the costs associated
with the operations. The Storm Water fund rates need to be increased but a determination of how
much of the storm water work associated with trails is crucial to that process. The Sewer and Water
funds have cash balances in excess of what is necessary for operations and much of that could be
transferred out to other capital projects.
The trail projects have been designed to State Aid (MSA) standards and part or all of the MSA
construction allocations that the city receives could be allocated to trails. Eureka Road North is the only
street project anticipated to use MSA funds, but the road could be reclaimed in its current configuration
for significantly less than the amount required to meet MSA standards. This would potentially free up
funds for the trail projects.
Staff will have some recommendations in a PowerPoint at the meeting to show how some of these ideas
could potentially be implemented.
The status of 2013 adopted CIP projects is included on an attachment. This shows the approved costs
and compared to actual expense through September.
Options:
The City Council is encouraged to discuss any capital project and enterprise budget changes with staff.
Recommendation / Action Requested:
Staff recommends that the City Council determine which trail projects it wants to fund and how the
costs should be allocated between funds in order to provide a reasonable basis for the rate studies to
proceed.
Next Steps and Timelines:
The City Administrator and Finance Director intend to discuss capital and budget items through the
Truth-in-Taxation hearing in December.
Connection to Vision / Mission:
Adopting a prudent budget contributes to sound financial management.
Trail Plan
Original
EstimatedUPDATED
TRAIL SEGMENTLengthCostCOST
Committed Projects
County Road 19 from Tonka Bay Ctr. to the LRT 1,200$72,000$80,397
Smithtown from City border to Eureka N 9,600 $1,460,000$1,460,000
Excelsior Blvd from Manor Rd to Barrington Way 700 $30,000$180,000
Total Estimated Cost-$1,720,397
Available Cash Balance$1,663,908
Current Gap-$56,489
Galpin Lake Road from City border to Highway 7 2,800$250,000$906,800
Mill Street from City border to Highway 7 2,500$222,000$735,000
Smithtown from Eureka N to County Rd 19 3,950 $385,000$938,750
Total Estimated Cost-$2,580,550
Available Cash Balance-$56,489
Gap with other planned projects-$2,637,039
Connect segment at CUB to Chanhassen trail on 41 550$76,000$123,750
Strawberry lane from border to Smithtown 3,550$338,000$798,750
County Road 19 from Public Safety bldg to Excelsior border 2,100$228,000$472,500
St. Albans Bay from Manor Park to Highway 7 1,800$171,000$405,000
Edgewood Road from Howards Pt Rd to Grant Lorenz 3,800$351,000$855,000
Grant Lorenz from Edgewood to Smithtown 2,650$257,000$596,250
Howards Pt Rd from Smithtown to Edgewood 4,000Beyond current CIP$900,000
Vine Hill Rd from apprx Waterford to Highway 7 2,650Beyond current CIP$596,250
Country Club Road from Smithtown to Yellowstone Trail 2,300Beyond current CIP$517,500
Yellowstone Trail from Country Club Rd to Lake Linden Dr 1,700Beyond current CIP$382,500
Additional other potential projects$5,647,500
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
402-Park Capital Improvements
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
402-10100 CASH AND INVESTMENTS 167,792.42 2,301.59CR 11,526.99 179,319.41
402-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
402-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
402-10450 ACCRUED INTEREST RECEIVABLE 635.00 0.00 0.00 635.00
402-11500 ACCOUNTS RECEIVABLE 0.00 0.00 0.00 0.00
402-13100 DUE FROM OTHER FUNDS 0.00 0.00 0.00 0.00
0.00 0.00 0.00
402-14250 INVENTORY - CONCESSIONS 0.00
TOTAL ASSETS 168,427.42 2,301.59CR 11,526.99 179,954.41
============== ============== ============== ==============
LIABILITIES
402-20100 AP PENDING (DUE TO POOL) 0.00 0.00 0.00 0.00
402-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
0.00 0.00 0.00
402-20800 DUE TO OTHER FUNDS 0.00
TOTAL LIABILITIES 0.00 0.00 0.00 0.00
FUND EQUITY
402-25310 UNRESERVED, DESIGNATED FUND BA 168,427.42CR 0.00 0.00 168,427.42CR
402-25320 SCBA Loan Receivable 0.00 0.00 0.00 0.00
TOTAL REVENUES 0.00 0.00 50,000.00CR 50,000.00CR
TOTAL EXPENDITURES 0.00 2,301.59 38,473.01 38,473.01
TOTAL FUND EQUITY 168,427.42CR 2,301.59 11,526.99CR 179,954.41CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 168,427.42CR 2,301.59 11,526.99CR 179,954.41CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
403-Equipment Replacement
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
403-10100 CASH AND INVESTMENTS 333,795.94 0.00 491,208.74CR 157,412.80CR
403-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
403-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
403-10450 ACCRUED INTEREST RECEIVABLE 2,005.00 0.00 0.00 2,005.00
403-11900 SCBA LEASE RECEIVABLE 99,533.90 0.00 0.00 99,533.90
403-11901 FIRE ENGINE LEASE RECEIVABLE 178,358.08 0.00 242,099.29 420,457.37
TOTAL ASSETS 613,692.92 0.00 249,109.45CR 364,583.47
============== ============== ============== ==============
LIABILITIES
403-20100 AP PENDING (DUE TO POOL) 0.00 0.00 0.00 0.00
0.00 0.00 0.00
403-20600 CONTRACTS PAYABLE 0.00
TOTAL LIABILITIES 0.00 0.00 0.00 0.00
FUND EQUITY
403-25310 UNRESERVED, DESIGNATED FUND BA 613,692.92CR 0.00 0.00 613,692.92CR
TOTAL REVENUES 0.00 0.00 0.00 0.00
0.00 249,109.45 249,109.45
TOTAL EXPENDITURES 0.00
TOTAL FUND EQUITY 613,692.92CR 0.00 249,109.45 364,583.47CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 613,692.92CR 0.00 249,109.45 364,583.47CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
404-Street Capital Improvemen
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
404-10100 CASH AND INVESTMENTS 1,755,990.96 139,638.39CR 153,846.04CR 1,602,144.92
404-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
404-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
404-10450 ACCRUED INTEREST RECEIVABLE 5,757.00 0.00 0.00 5,757.00
0.00 0.00 0.00
404-13100 DUE FROM OTHER FUNDS 0.00
TOTAL ASSETS 1,761,747.96 139,638.39CR 153,846.04CR 1,607,901.92
============== ============== ============== ==============
LIABILITIES
404-20100 AP PENDING (DUE TO POOL) 1,410.63CR 2,906.73CR 4,570.12CR 5,980.75CR
404-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
TOTAL LIABILITIES 1,410.63CR 2,906.73CR 4,570.12CR 5,980.75CR
FUND EQUITY
404-25310 UNRESERVED, DESIGNATED FUND BA 1,760,337.33CR 0.00 0.00 1,760,337.33CR
TOTAL REVENUES 0.00 0.00 0.00 0.00
TOTAL EXPENDITURES 0.00 142,545.12 158,416.16 158,416.16
TOTAL FUND EQUITY 1,760,337.33CR 142,545.12 158,416.16 1,601,921.17CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 1,761,747.96CR 139,638.39 153,846.04 1,607,901.92CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
405-MSA Capital Improvement
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
405-10100 CASH AND INVESTMENTS 133,388.51 7,403.75CR 7,403.75CR 125,984.76
405-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
405-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
405-10450 ACCRUED INTEREST RECEIVABLE 548.00 0.00 0.00 548.00
0.00 0.00 0.00
405-11500 ACCOUNTS RECEIVABLE 0.00
TOTAL ASSETS 133,936.51 7,403.75CR 7,403.75CR 126,532.76
============== ============== ============== ==============
LIABILITIES
405-20100 AP PENDING (DUE TO POOL) 0.00 7,403.75 0.00 0.00
405-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
0.00 0.00 0.00
405-20800 DUE TO OTHER GOVERNMENTS 0.00
TOTAL LIABILITIES 0.00 7,403.75 0.00 0.00
FUND EQUITY
405-25310 UNRESERVED, DESIGNATED FUND BA 133,936.51CR 0.00 0.00 133,936.51CR
TOTAL REVENUES 0.00 0.00 0.00 0.00
0.00 7,403.75 7,403.75
TOTAL EXPENDITURES 0.00
TOTAL FUND EQUITY 133,936.51CR 0.00 7,403.75 126,532.76CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 133,936.51CR 7,403.75 7,403.75 126,532.76CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
406-Trail Capital Outlay
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
406-10100 CASH AND INVESTMENTS 0.48CR 292,914.22CR 602,933.97CR 602,934.45CR
406-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
406-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
406-10450 ACCRUED INTEREST RECEIVABLE 56.00 0.00 0.00 56.00
TOTAL ASSETS 55.52 292,914.22CR 602,933.97CR 602,878.45CR
============== ============== ============== ==============
LIABILITIES
406-20100 AP PENDING (DUE TO POOL) 13,238.15CR 218,501.52 48,574.55CR 61,812.70CR
406-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
406-20700 DUE TO OTHER FUNDS 21,394.00CR 0.00 0.00 21,394.00CR
0.00 0.00 0.00
406-20800 DUE TO OTHER FUNDS 0.00
TOTAL LIABILITIES 34,632.15CR 218,501.52 48,574.55CR 83,206.70CR
FUND EQUITY
406-25310 UNRESERVED, DESIGNATED FUND BA 34,576.63 0.00 0.00 34,576.63
TOTAL REVENUES 0.00 0.00 0.00 0.00
74,412.70 651,508.52 651,508.52
TOTAL EXPENDITURES 0.00
TOTAL FUND EQUITY 34,576.63 74,412.70 651,508.52 686,085.15
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 55.52CR 292,914.22 602,933.97 602,878.45
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
450-Community Infrastructure
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
450-10100 CASH AND INVESTMENTS 1,663,908.21 0.00 1,774.59CR 1,662,133.62
450-10450 ACCRUED INTEREST 6,960.00 0.00 0.00 6,960.00
450-13100 DUE FROM OTHER FUNDS 21,394.00 0.00 0.00 21,394.00
450-14200 LAND HELD FOR RESALE 151,448.12 0.00 0.00 151,448.12
TOTAL ASSETS 1,843,710.33 0.00 1,774.59CR 1,841,935.74
============== ============== ============== ==============
LIABILITIES
450-20100 AP PENDING (DUE TO POOL) 0.00 0.00 0.00 0.00
TOTAL LIABILITIES 0.00 0.00 0.00 0.00
FUND EQUITY
450-25310 UNRESERVED FUND BALANCE 1,843,710.33CR 0.00 0.00 1,843,710.33CR
TOTAL REVENUES 0.00 0.00 0.00 0.00
TOTAL EXPENDITURES 0.00 0.00 1,774.59 1,774.59
TOTAL FUND EQUITY 1,843,710.33CR 0.00 1,774.59 1,841,935.74CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 1,843,710.33CR 0.00 1,774.59 1,841,935.74CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
601-Water Utility
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
601-10100 CASH AND INVESTMENTS 3,810,728.47 5,767.15CR 88,277.75CR 3,722,450.72
601-10300 CASH WITH FISCAL AGENT 235,245.00 0.00 0.00 235,245.00
601-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
601-10450 ACCRUED INTEREST RECEIVABLE 15,633.00 0.00 0.00 15,633.00
601-10700 TAXES RECEIVABLE - DELINQUENT 0.00 0.00 0.00 0.00
601-11500 ACCOUNTS RECEIVABLE 108,743.39 244,261.26 145,019.72 253,763.11
601-11600 ALLOWANCE FOR UNCOLLECTIBLE AC 0.00 0.00 0.00 0.00
601-11601 UTILITY CONVERSION AR 0.00 0.00 0.00 0.00
601-11700 NOTES RECEIVABLE 0.00 0.00 0.00 0.00
601-12100 SPECIAL ASSESSMENTS RECEIVABLE 61.00 0.00 61.00CR 0.00
601-12200 SPECIAL ASSESS REC-DELINQUENT 2,751.55 0.00 0.00 2,751.55
601-12300 SPECIAL ASSESS REC-DEFERRED 116,247.97 0.00 0.00 116,247.97
601-15500 PREPAID INSURANCE 0.01CR 0.00 0.00 0.01CR
601-15510 PREPAID EXPENSES - OTHER 0.00 0.00 0.00 0.00
601-15620 UNAMORTIZED DISCOUNT ON BONDS 0.14CR 0.00 0.00 0.14CR
601-16300 WELLS, MAINS, TANKS 9,944,663.67 0.00 0.00 9,944,663.67
601-16310 ALLOW FOR DEPRECIATION-WELLS/M 4,216,892.07CR 0.00 0.00 4,216,892.07CR
601-16400 MACHINERY AND EQUIPMENT 39,868.81 0.00 0.00 39,868.81
601-16410 ALLOWANCE FOR DEPRECIATION 39,869.42CR 0.00 0.00 39,869.42CR
601-16500 CONSTR IN PROGRESS 0.00 0.00 0.00 0.00
0.00 0.00 0.00
601-16501 CONST IN PROGRESS-1996 SMITHTO 0.00
TOTAL ASSETS 10,017,181.22 238,494.11 56,680.97 10,073,862.19
============== ============== ============== ==============
LIABILITIES
601-20100 AP PENDING (DUE TO POOL) 18,313.75CR 24,008.02CR 10,825.03CR 29,138.78CR
601-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
601-20801 SALES TAX PAYABLE 1,177.77CR 869.67CR 1,611.28CR 2,789.05CR
601-20810 WATER SURCHARGES PAYABLE 304.01 14.99 18.80 322.81
601-21500 ACCRUED INTEREST PAYABLE 49,820.00CR 0.00 0.00 49,820.00CR
601-21600 ACCRUED WAGES & SALARIES PAYAB 0.01 0.00 0.00 0.01
601-22200 DEFERRED REVENUES 5,000.31 0.00 0.00 5,000.31
601-22500 BONDS PAYABLE - CURRENT PORTIO 185,000.00CR 0.00 185,000.00 0.00
CR 0.00 0.00 2,315,000.00CR
601-23100 BONDS PAYABLE - NONCURRENT 2,315,000.00
TOTAL LIABILITIES 2,564,007.19CR 24,862.70CR 172,582.49 2,391,424.70CR
FUND EQUITY
601-26300 CONTRIBUTED CAPITAL 5,157,157.52CR 0.00 0.00 5,157,157.52CR
601-27220 UNRESERVED, UNDESIGNATED RETAI 2,296,016.51CR 0.00 0.00 2,296,016.51CR
TOTAL REVENUES 0.00 243,601.67CR 444,299.48CR 444,299.48CR
TOTAL EXPENDITURES 0.00 29,970.26 215,036.02 215,036.02
TOTAL FUND EQUITY 7,453,174.03CR 213,631.41CR 229,263.46CR 7,682,437.49CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 10,017,181.22CR 238,494.11CR 56,680.97CR 10,073,862.19CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
611-Sanitary Sewer Utility
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
611-10100 CASH AND INVESTMENTS 3,514,714.48 83,980.84CR 343,259.22CR 3,171,455.26
611-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
611-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
611-10450 ACCRUED INTEREST RECEIVABLE 14,549.00 0.00 0.00 14,549.00
611-11500 ACCOUNTS RECEIVABLE 220,760.08 192,929.74 24,655.71 245,415.79
611-11600 ALLOWANCE FOR UNCOLLECTIBLE AC 0.00 0.00 0.00 0.00
611-11601 UTILITY CONVERSION AR 0.00 0.00 0.00 0.00
611-12100 SPECIAL ASSESSMENTS RECEIVABLE 429.00 0.00 429.00CR 0.00
611-12200 SPECIAL ASSESS REC-DELINQUENT 4,394.03 0.00 0.00 4,394.03
611-12300 SPECIAL ASSESS REC-DEFERRED 23,393.62 0.00 0.00 23,393.62
611-13100 DUE FROM OTHER FUNDS 0.00 0.00 0.00 0.00
611-15500 PREPAID INSURANCE 0.00 0.00 0.00 0.00
611-15510 PREPAID EXPENSE 0.00 0.00 0.00 0.00
611-16301 PUMPS, MAINS, LIFTS 8,776,827.18 0.00 0.00 8,776,827.18
611-16310 ALLOW FOR DEPRECIATION-PUMPS/M 7,558,746.63CR 0.00 0.00 7,558,746.63CR
611-16400 MACHINERY AND EQUIPMENT 43,384.89 0.00 0.00 43,384.89
611-16410 ALLOWANCE FOR DEPRECIATION 43,972.88CR 0.00 0.00 43,972.88CR
611-16500 CONSTR IN PROGRESS 63,931.00 0.00 0.00 63,931.00
TOTAL ASSETS 5,059,663.77 108,948.90 319,032.51CR 4,740,631.26
============== ============== ============== ==============
LIABILITIES
611-20100 AP PENDING (DUE TO POOL) 82,108.02CR 36,890.25 116,736.91 34,628.89
611-20600 CONTRACTS PAYABLE 0.00 0.00 0.00 0.00
611-20820 MCES SAC CHARGES PAYABLE 283.38CR 2,435.00CR 4,345.62CR 4,629.00CR
0.00 0.00 0.00
611-21600 ACCRUED WAGES & SALARIES PAYAB 0.00
TOTAL LIABILITIES 82,391.40CR 34,455.25 112,391.29 29,999.89
FUND EQUITY
611-26300 CONTRIBUTED CAPITAL 4,657,264.25CR 0.00 0.00 4,657,264.25CR
611-27220 UNRESERVED, UNDESIGNATED RETAI 320,008.12CR 0.00 0.00 320,008.12CR
TOTAL REVENUES 0.00 203,201.92CR 645,896.94CR 645,896.94CR
TOTAL EXPENDITURES 0.00 59,797.77 852,538.16 852,538.16
TOTAL FUND EQUITY 4,977,272.37CR 143,404.15CR 206,641.22 4,770,631.15CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 5,059,663.77CR 108,948.90CR 319,032.51 4,740,631.26CR
============== ============== ============== ==============
10-10-2013 02:16 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
621-Recycling Utility
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
621-10100 CASH AND INVESTMENTS 44,453.66 6,356.46 13,315.84 57,769.50
621-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
621-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
621-10450 ACCRUED INTEREST RECEIVABLE 225.00 0.00 0.00 225.00
621-11500 ACCOUNTS RECEIVABLE 42,439.86 37,098.71 4,983.27 47,423.13
621-11600 ALLOWANCE FOR UNCOLLECTIBLE AC 0.00 0.00 0.00 0.00
621-11601 UTILITY CONVERSION AR 0.00 0.00 0.00 0.00
621-12100 SPECIAL ASSESSMENTS RECEIVABLE 82.00 0.00 82.00CR 0.00
621-12200 SPECIAL ASSESS REC-DELINQUENT 655.11 0.00 0.00 655.11
621-12300 SPECIAL ASSESS REC-DEFERRED 4,991.51 0.00 0.00 4,991.51
621-16301 STORMWATER FIXED ASSETS 0.00 0.00 0.00 0.00
621-16410 ALLOWANCE FOR DEPRECIATION 0.00 0.00 0.00 0.00
TOTAL ASSETS 92,847.14 43,455.17 18,217.11 111,064.25
============== ============== ============== ==============
LIABILITIES
621-20100 AP PENDING (DUE TO POOL) 411.96CR 4,084.13 7.46CR 419.42CR
0.00 0.00 0.00
621-21600 ACCRUED WAGES & SALARIES PAYAB 0.00
TOTAL LIABILITIES 411.96CR 4,084.13 7.46CR 419.42CR
FUND EQUITY
621-27220 UNRESERVED, UNDESIGNATED RETAI 92,435.18CR 0.00 0.00 92,435.18CR
TOTAL REVENUES 0.00 61,895.07CR 148,404.87CR 148,404.87CR
14,355.77 130,195.22 130,195.22
TOTAL EXPENDITURES 0.00
TOTAL FUND EQUITY 92,435.18CR 47,539.30CR 18,209.65CR 110,644.83CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 92,847.14CR 43,455.17CR 18,217.11CR 111,064.25CR
============== ============== ============== ==============
10-10-2013 02:17 PM CITY OF SHOREWOOD PAGE: 1
YEAR TO DATE BALANCE SHEET
AS OF: SEPTEMBER 30TH, 2013
631-Stormwater ManagementUtil
BEGINNING M-T-D Y-T-D CURRENT
ACCT NO# ACCOUNT NAME BALANCE ACTIVITY ACTIVITY BALANCE
_________________________________________________________________________________________________________________
ASSETS
631-10100 CASH AND INVESTMENTS 82,479.31 51,138.90CR 47,496.55 129,975.86
631-10300 CASH WITH FISCAL AGENT 0.00 0.00 0.00 0.00
631-10410 ALLOW FOR UNREALIZED INVEST GA 0.00 0.00 0.00 0.00
631-10450 ACCRUED INTEREST RECEIVABLE 629.00 0.00 0.00 629.00
631-11500 ACCOUNTS RECEIVABLE 51,330.24 44,658.50 5,865.56 57,195.80
631-11600 ALLOWANCE FOR UNCOLLECTIBLE AC 0.00 0.00 0.00 0.00
631-11601 UTILITY CONVERSION AR 0.00 0.00 0.00 0.00
631-12100 SPECIAL ASSESSMENTS RECEIVABLE 88.00 0.00 88.00CR 0.00
631-12200 SPECIAL ASSESS REC-DELINQUENT 1,664.80 0.00 0.00 1,664.80
631-12300 SPECIAL ASSESS REC-DEFERRED 6,781.62 0.00 0.00 6,781.62
631-16100 LAND 434,112.50 0.00 0.00 434,112.50
631-16301 STORMWATER MGMT IMPROVEMENTS 1,578,081.66 0.00 0.00 1,578,081.66
631-16410 ALLOWANCE FOR DEPRECIATION 263,190.62CR 0.00 0.00 263,190.62CR
631-16500 CONSTRUCTION IN PROGRESS 174,603.00CR 0.00 0.00 174,603.00CR
TOTAL ASSETS 1,717,373.51 6,480.40CR 53,274.11 1,770,647.62
============== ============== ============== ==============
LIABILITIES
631-20100 AP PENDING (DUE TO POOL) 3,488.46CR 40,944.81 7,252.58CR 10,741.04CR
631-20800 DUE TO OTHER FUNDS 0.00 0.00 0.00 0.00
631-21600 ACCRUED WAGES & SALARIES PAYAB 0.00 0.00 0.00 0.00
TOTAL LIABILITIES 3,488.46CR 40,944.81 7,252.58CR 10,741.04CR
FUND EQUITY
631-26300 CONTRIBUTED CAPITAL 618,257.05CR 0.00 0.00 618,257.05CR
631-27220 UNRESERVED, UNDESIGNATED RETAI 1,095,628.00CR 0.00 0.00 1,095,628.00CR
TOTAL REVENUES 0.00 46,950.93CR 150,099.18CR 150,099.18CR
12,486.52 104,077.65 104,077.65
TOTAL EXPENDITURES 0.00
TOTAL FUND EQUITY 1,713,885.05CR 34,464.41CR 46,021.53CR 1,759,906.58CR
______________ ______________ ______________ ______________
TOTAL LIABILITIES & EQUITY 1,717,373.51CR 6,480.40 53,274.11CR 1,770,647.62CR
============== ============== ============== ==============
City of Shorewood, Minnesota
Capital Improvement Program
2013 Project Status
PROJECTS BY FUNDING SOURCE
SourceProject Name
Original EstimateCost to DateStatus
3,000Reviewing Quotes
402 - Park ImprovementsFreeman Picnic Shelter Re-Roof -
5,000Complete
402 - Park ImprovementsSkate Park - Community Garden Fencing 4,823
8,000Pending
402 - Park ImprovementsManor Park - Water Source for Garden -
8,500In Process
402 - Park ImprovementsFreeman Park - Eddy Station 1,902
0In Process
402 - Park ImprovementsFreeman Park - Buckthorn Final 3,400
16,550In Process
402 - Park ImprovementsFreeman Ballfield Fence -
10,000Watershed Review
402 - Park ImprovementsBadger Park - Rustic Trail -
20,000In Process
402 - Park ImprovementsGideon Glen Parking Lot & Signage -
30,000Complete
402 - Park ImprovementsManor Park - Versa-Court Tennis Surface 26,482
0Complete
402 - Park ImprovementsCathcart Park - Basketball Hoops 1,866
38,473
403 - Equipment 3,000Complete
Broom Attachment - Skid Steer replace A13
Replacement Fund
403 - Equipment 4,000Reviewing Quotes
Trailer 12' replace unit 69
Replacement Fund
403 - Equipment 4,000In Process
Public Works Building
Replacement Fund
403 - Equipment 9,000Complete
Color Copier Replacement 8,652
Replacement Fund
403 - Equipment 12,500Complete
Blower Attachment for Skid Steer 8,899
Replacement Fund
403 - Equipment 16,000Reviewing Quotes
Replace Unit 21 - 24' trailer
Replacement Fund
403 - Equipment 20,000Dropped
Network Connection
Replacement Fund
403 - Equipment 20,000In Process
Computer Upgrades 1,598
Replacement Fund
403 - Equipment Groundsmaster Mower- Toro 328D - replace unit 28,000Pending
Replacement Fund75
403 - Equipment 90,000In Process
Financial Software 51,625
Replacement Fund
403 - Equipment 160,000Delayed
Dump Truck - replace unit 65 -
Replacement Fund
403 - Equipment 0Complete
Sweeper 178,335
Replacement Fund
249,109
6,300In Process
404 - Street Recon FundStreet Sign Replacement
24,000In Process
404 - Street Recon FundShady Lane
26,000In Process
404 - Street Recon FundMcLain Road
26,000In Process
404 - Street Recon FundShore Road
58,000 10,008In Process
404 - Street Recon FundShady Hills Rd (& Alley)
220,000220,000 144,534144,534 Complete - $50K Smithtown to 2014Complete - $50K Smithtown to 2014
404 - Street Recon Fund404 - Street Recon FundMaintenance-Bituminous SealcoatingMaintenance-Bituminous Sealcoating
601,000 14,337In Process
404 - Street Recon FundValleywood Circle & Lane
168,879
72,000 72,168Complete
406 - TrailsTrail Connection to LRT
1,200,000 811,902 In Process
406 - TrailsSmithtown from West Border to Minnewashta Elem
0 7,898In Process
406 - TrailsMill St
0 9,628In Process
406 - TrailsGalpin Lake Rd
901,596
80,000 -In Process
601 - Water FundRadio/ISP Communications System
251,400 -Dropped
601 - Water FundWater Interconnect with Excelsior
272,000 -Dropped
601 - Water FundWater Main - Valleywood Circle & Lane
311,300 -Dropped
601 - Water FundHWY 7 Water Main Crossing
450,000 -Delayed
601 - Water FundW. Water Tower - Rehab & Painting
-
40,000In Process
611 - Sanitary Sewer FundRadio/ISP Communications - Lift Station Retrofit
70,000 12,000In Process
611 - Sanitary Sewer FundInfiltration and Inflow Reduction
180,000Delayed
611 - Sanitary Sewer FundLift Station 11 Rehab - 20465 Radisson Rd.
194,800 6,091Delayed
611 - Sanitary Sewer FundLift Station 11 Force Main Separation
0In Process
611 - Sanitary Sewer FundLift Station 6 Access Road
0 325,764 In Process
611 - Sanitary Sewer FundLift Station 5 & 6
343,855
40,000
631 - Stormwater FundExcelsior Blvd Drainage
70,000
631 - Stormwater FundShorewood Lane Ditch
142,000In Process
631 - Stormwater FundValleywood Circle & Lane - Drainage
0 59,625
631 - Stormwater FundSilver Lake Outlet
0 2,833
631 - Stormwater FundApple Rd
62,458
Shorewood City Council
Budget Workshop
October 14, 2013
2014 CIP and Enterprise Budgets
March 2013 Retreat Review
No increase in tax levy over 2013 amount
•
No fee increases
•
No utility rate increases
•
2% inflation in expenditures each year
•
Current service levels are maintained
•
No new services, equipment, or facilities
–
Fund Balance Surplus/(Deficit)
Desired 12/31/2021Fund Balance
Fund NameReserveEstCashSurplus/Deficit
101General Fund 3,374,000 (868,582)(4,242,582)
402Parks-(672,894)(672,894)
403Equipment150,000 10,696 (139,304)
404Streets500,000 182,683 (317,317)
405MSA-(232,845)(232,845)
450Community Investment---
490SouthShore Center-(77,655)(77,655)
601Water295,000 5,108,507 4,813,507
611Sewer578,000 (194)(578,194)
621Recycling52,000 (6,674)(58,674)
631Storm Water64,000 (685,573)(749,573)
Total Available5,013,000 2,757,469 (2,255,531)
3
Activities & Actions to Date
General Fund Levy Option –3%
•
Rate Studies Initiated –Due October 28, 2013
•
Sewer & Storm Water
–
Country Club House Sale Completed
•
Net Sale Price$317,182
Less Sale Prep Exp28,586
Net Proceeds$288,596
Rent (2007-current)69,921
Net Return$358,517
Original Purchase Price $305,000
Activities & Actions (cont.)
Badger Park Improvements
•
$312,000 Gap to fund
–
Southshore Center –Review in progress
•
CIP Equipment Fund –Review in progress
•
CIP Technology Upgrades –Review in progress
•
Trail Activity
Cost for committed projects
•
Smithtown Road (West)$1,460,000
–
County Road 1980,397
–
Excelsior Blvd180,000
–
Total Costs$1,720,397
Estimated Costs of Future Trails
GalpinLake Road$ 906,800
•
Mill Street735,000
•
Smithtown Road (East)938,000
•
Total Estimated Cost$2,580,550
Trail Funding Gap
Total Committed & Planned$4,300,947
•
Cash Available 12/31/12-1,663,908
•
Trail Funding Gap $2,637,039
•
Options for Gap Revenue
Country Club House$ 288,596
•
Storm Water –25% of proj. 735,000
•
MSA Cash & Allocations1,098,044
•
$1,998,027
Options for Gap Revenue (cont.)
Transfers
•
Water$3,000,000
–
Sewer
–
2,000,000
Storm Water Rate Increase
Philosophical Issues
Council Decisions
Fund All or Part:
•
GalpinLake Trail
–
Mill Street Trail
–
Smithtown East Trail
–
Badger Park
–
SSC
–
Equipment Gap
–
Choose Options
House Sale
•
Storm Water 25% to Trails
•
MSA Cash and Allotments
•
Rate Increases
•
Transfers from Water & Sewer
•
Decisions
Directions given tonight will be used to guide
•
the rate study options and General Fund
allocations for 2014.