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Long Term Financial Plan 2021-2031
CITY OF NEW HOPE, MINNESOTA LONG-TERM PLAN Presented on November 15, 2021 Prepared by Abdo Financial Solutions THIS PAGE IS LEFT BLANK INTENTIONALLY City of New Hope, Minnesota Long Term Plan Table of Contents Page No. Compilation Disclosure 5 Introductory Section Transmittal Letter 8 Financial Section Schedule of Property Taxes Levied and Tax Rates 14 Schedule of Annual Fund Cash Balances 18 Outstanding Debt Schedule 20 Capital Improvement Plan Fire Reserve Fund 9010 Schedule of Planned Capital Outlay 2021 to 2031 22 Schedule of Projected Revenue, Expenditures and Debt 22 City Hall Reserve Fund 9202 Schedule of Planned Capital Outlay 2021 to 2031 24 Schedule of Projected Revenue, Expenditures and Debt 24 Street Infrastructure Reserve Fund 9203 Schedule of Planned Capital Outlay 2021 to 2031 26 Schedule of Projected Revenue, Expenditures and Debt 28 Parks Infrastructure Reserve Fund 9233 Schedule of Planned Capital Outlay 2021 to 2031 30 Schedule of Projected Revenue, Expenditures and Debt 32 Central Garage Internal Service Fund 9402 Schedule of Planned Capital Outlay 2021 to 2031 34 Statement of Cash Flows 34 Sewer Enterprise Fund 9300 Schedule of Planned Capital Outlay 2021 to 2031 36 Statement of Cash Flows 36 Water Enterprise Fund 9301 Schedule of Planned Capital Outlay 2021 to 2031 38 Statement of Cash Flows 38 Storm Water Enterprise Fund 9304 Schedule of Planned Capital Outlay 2021 to 2031 40 Statement of Cash Flows 40 Street Light Enterprise Fund 9305 Schedule of Planned Capital Outlay 2021 to 2031 42 Statement of Cash Flows 42 Ice Arena Enterprise Fund 9303 Schedule of Planned Capital Outlay 2021 to 2031 44 Statement of Cash Flows 46 Golf Course Enterprise Fund 9302 Schedule of Planned Capital Outlay 2021 to 2031 48 Statement of Cash Flows 50 Selected Graphical Data from Projections 52 3 THIS PAGE IS LEFT BLANK INTENTIONALLY 4 November 15, 2021 COMPILATION DISCLOSURE Honorable Mayor and City Council City of New Hope 4401 Xylon Avenue North New Hope, Minnesota 55428 We have compiled the accompanying forecasted long-term plan that includes property tax, tax rate, fund balance and debt projections based on input from the City Council and City staff. This projection incorporates estimates through December 31, 2031. This forecast was compiled in accordance with attestation standards established by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of forecast information that is the representation of management and does not include evaluation of the support for the assumptions underlying the forecast. We have not examined the forecast and, accordingly, do not express an opinion or any other form of assurance on the accompanying statements or assumptions. Furthermore, there will usually be differences between the forecasted and actual results because events and circumstances frequently do not occur as expected, and those differences may be material. We have no responsibility to update this report for events and circumstances occurring after the date of this report. Sincerely, Abdo Financial Solutions 5 THIS PAGE IS LEFT BLANK INTENTIONALLY 6 INTRODUCTORY SECTION CITY OF NEW HOPE, MINNESOTA LONG TERM PLAN 7 November 15, 2021 Honorable Mayor and City Council City of New Hope 4401 Xylon Avenue North New Hope, Minnesota 55428 Introduction As discussed in prior communications to the City Council, we have been preparing a long term plan for the City that is intended to give a big picture view of the status now and ten years from now. We have measured and projected operations, capital and debt for the City based on assumptions made by management. The City’s assumptions made are as follows: Assumptions The following assumptions have been used to calculate the projections in this report: Interest earnings 1.00% Governmental fund revenue growth (2)3.00% Governmental fund expenditure growth (2)4.00% Enterprise fund revenue growth(1)5.00% Enterprise fund expense growth(1)5.00% General Fund levy growth (3)Varies Street Infrastructure levy growth 5.00% Park levy growth 5.00% Park levy for Ice Varies EDA levy growth Varies Tax capacity growth (4)3.50% Population growth 0.58% Median home value growth 0.50% Enterprise debt term N/A Enterprise debt interest rate N/A Governmental funds debt term (2)N/A Governmental funds debt interest rate (2)N/A (1) Specific enterprise fund assumptions are noted in the Financial Section. (2)Specific enterprise fund assumptions are noted in the Financial Section. (3) General Fund levy has been adjusted to meet minimum fund balance requirements. Levy increase is detailed on the Tax Summary in the Financial Section. (4)Growth in captured tax increment capacity has not been modeled, although it is expected to increase over time. A net 3.5% growth in non-captured tax capacity has been used for purposes of this report. 8 Assumptions with Future Action • Fire Capital Fund 9010 may implement a $100,000 levy in 2023 to build reserves for future capital outlay needs. A comprehensive CIP for this fund will be proposed in March 2022. • City Hall Capital Fund 9202 may implement a $100,000 levy in 2023 to build reserves for future building and major capital expenditure needs. A comprehensive CIP for this fund will be proposed in March 2022. Other significant assumptions are as follows: o A projected amount of $400,000 in unspent bond proceeds from the 2017A GO Bonds for the police department and city hall construction project remain after the completion of those projects. An analysis on the utilization of the 2017A bond proceeds has been provided independent of this report. City Management consulted with its municipal advisor, Ehlers and Associates, Inc., on appropriate uses of unspent proceeds which may include a transfer to the Public Works Facility Project Fund 9240 for coverage in expenses related to that fund’s capital projects. For purposes of our long-term financial analysis, we have modeled a transfer of the unspent proceeds from the City Hall Capital Fund 9202 into the Public Works Facility Project Fund 9240. • Swimming Pool Capital Fund 9204 may implement a $100,000 levy in 2023 to build reserves for future capital outlay needs. A comprehensive CIP for this fund will be proposed in March 2022. • Park Infrastructure Capital Fund 9233 will increase the levy for capital by 5 percent, annually. In addition, it is assumed that $500,000 will be levied each year to support Ice Arena capital and debt service obligations through 2031. The Ice Arena levy is shown as a transfer out from the Park Infrastructure Capital Fund. • Ice Arena Fund 9303 will continue to receive an annual transfer of levy dollars from the Park Infrastructure Capital Fund through 2031, other significant assumptions are as follows: o In March of 2021, the 2011A Taxable Lease Revenue Bonds were refunded by the issue of the 2021A GO Tax Abatement Bonds, resulting in $174,358 in debt service future value savings. o Ice Arena Fund 9303 will utilize a total of $1,417,120 interfund loan from the Temporary Financing Fund in from 2021-2023 to fund several large capital projects for the arena, including: replacement of the roof and skylight on the south rink ($450,000) in 2021, replacement of north rink dasher boards and glass ($210,000) in 2022, and re-cementing the floor and replacing the glass and boards at the south rink ($757,120) in 2023. The long-term plan assumes a fifteen (15) year amortization and no interest on the interfund loans. • Golf Course Enterprise Fund 9302 capital outlay needs will be monitored and adjusted based on operating performance of the facility and available cash reserves. When possible, capital purchases will be delayed to ensure adequate cash flow is available. As needed, temporary interfund loans may be used to provide cash flow needed for capital acquisition and may be repaid in the subsequent year from operating revenue. As a result of the COVID-19 pandemic, the Golf Course fund has seen a significant increase in sales in 2020 and 2021. Due to these recent revenue trends future assumptions for this fund will need to be monitored. 9 •Street Infrastructure Capital Fund 9203 will increase the levy for capital by 5 percent, annually. Other significant assumptions are as follows: o Franchise fee revenue of $440,000 will be allocated to the Street Infrastructure Capital Fund, with the remaining revenue allocated to the General Fund. o Municipal State Aid revenue will be received for applicable projects. o The interfund loan provided by the Temporary Financing Fund in 2016 to fund capital improvement projects will be repaid based on the original amortization, with final payment occurring in 2026. •Sewer Fund 9300 has planned average annual capital expenses of $654,526 over the life of the long-term plan. These expenses are projected to be paid with a pay-as-you-go methodology due to the projected growth in the fund’s cash reserves. •Water Fund 9301 will receive a $1,500,000 payment from the Joint Water Commission in 2023 will offset project costs related to the repainting of the south water tower. •Storm Water Fund 9304 will receive a repayment from the Shingle Creek Watershed related to the Meadow Lake Draw Down project which is contemplated in 2021. •Street Light Fund 9305 plans to incur costs related to the Boone Signal Replacement in the amount of $400,000. Temporary interfund loans may be necessary to provide adequate cash flow for the 2023 improvement projects and can be repaid with sales revenue in subsequent years. •Central Garage Fund 9402 assumes transfers in of unspent bond proceeds from the 2017A GO Bonds, CARES funds and ARPA funds totaling $4,253,980 from 2021-2023. •Park and Pool Improvement Fund 9234 is assumed to transfer remaining funds out of the fund on 12/31/2021. •General Fund 9001 reflects the transfer out of $1,641,664 of Coronavirus Relief Fund intergovernmental revenue in 2021 to the Central Garage Fund 9402. •No new debt issuance has been modeled in this long-term plan. 10 Key Highlights •At December 31, 2020 the General fund had a 63.0 percent unassigned fund balance. The Minnesota Office of the State Auditor defines an adequate reserve as 35-50 percent of the General fund expenditures. The City’s policy on fund balance currently specifies that a 42 percent reserve level shall be maintained. The projected General Fund balance remains within the 35-50 percent rage throughout the life of this Plan. We anticipate the General fund levy will grow by an average of 5 percent to maintain the desired reserve level. •The tax levy is projected to increase from $18.2 million (2022 proposed) to $26 million over the duration of this Plan. The levy increase will result in an increase in the projected tax rate, growing from 62.72 percent (2022 proposed) to 66.32 percent over the duration of this Plan. o Tax capacity is assumed to grow at a rate of 3.50 percent during the duration of this Plan. A growth in tax capacity in excess of these projections may result in lower tax rates in future years. •The annual tax amount for the Median Home is projected to increase from $1,532 (2022 proposed) to $1,706 over the duration of this Plan. •Total debt outstanding is projected to decrease from $51.4 million (2020 actual) to $10.6 million over the duration of this Plan. No new debt issuance has been modeled in this Plan. As a result, the debt per capita will decrease from $2,298 (2020 actual) per household to an estimated $445 over the duration of this Plan. •The total cash position of the City is projected to increase from $46.4 million (2020 actual) to $75.9 million over the duration of this Plan. •Contributions from the General Fund for Central Garage are assumed to remain at 100% over the duration of this Plan. •Intergovernmental revenue, tax increment, developer contributions or other outside funding has been identified in the separate capital fund worksheets. 11 THIS PAGE IS LEFT BLANK INTENTIONALLY 12 FINANCIAL SECTION CITY OF NEW HOPE, MINNESOTA LONG TERM PLAN 13 City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates For the Years Ended December 31, 2020 (Actual) and 2021 to 2031 (Estimated) 2020 2021 2022 2023 Actual Estimated Estimated Estimated Amounts Amounts Amounts Amounts Property Taxes Levied for General Purposes 9001 General 10,511,431$ 10,879,465$ 11,393,354$ 11,934,538$ 9015 Economic Development Authority 348,000 365,000 153,000 203,000 9015 HRA - - 417,000 417,000 9203 Street Infrastructure 1,467,333 1,540,700 1,617,735 1,698,622 9233 Park Infrastructure (Additional Levy for Ice)400,000 500,000 500,000 500,000 9233 Park Infrastructure 367,290 385,655 404,938 425,185 9010 Potential levies for CIP capital - Fire Capital y - - - 100,000 9204 Potential levies for CIP capital - Swimming Pool y - - - 100,000 9202 Potential levies for CIP capital - City Hall y - - - 100,000 Subtotal 13,094,054 13,670,820$ 14,486,027 15,478,345 Property Taxes Levied for Debt Service 9144 2015A GO Tax Increment Bonds 240,162 237,747 235,227 237,852 9149 2015B GO Improvement Bonds 207,663 206,828 205,240 208,745 9148 2016A GO Improvement Bonds 259,142 260,979 262,502 263,709 9150 2017A GO Improvement Bonds 1,709,190 1,705,515 1,706,828 1,705,515 9151 2018A GO Tax Abatement Bonds 865,627 867,464 862,739 867,464 9152 2019A GO Tax Abatement Bonds 468,878 468,248 472,448 470,768 Subtotal 3,750,662 3,746,781$ 3,744,984$ 3,754,053$ Total Taxes Levied 16,844,716 17,417,601$ 18,231,011 19,232,398 Less: Value of Market Value Levies (348,000) (365,000) (417,000) (417,000) Less: Distribution from fiscal disparities (2,920,937) (2,996,822) (3,110,358) (3,110,358) City Net Levy 13,575,779$ 14,055,779$ 14,703,653$ 15,705,040$ Tax Capacity Personal and Real Estate 25,296,074$ 27,338,807$ 28,762,427$ 29,769,112$ Less: Contribution to fiscal disparities (2,941,213) (3,317,874) (3,682,171) (3,682,171) Less: Tax Increment (1,378,781) (1,565,751) (1,636,594) (1,636,594) Adjusted net tax capacity 20,976,080$ 22,455,182$ 23,443,662$ 24,450,347$ 14 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 12,519,331$ 13,132,778$ 13,776,284$ 14,451,322$ 15,159,437$ 15,902,249$ 16,681,459$ 17,498,851$ 253,000 303,000 353,000 403,000 453,000 503,000 553,000 603,000 417,000 417,000 417,000 417,000 417,000 417,000 417,000 417,000 1,783,553 1,872,730 1,966,367 2,064,685 2,167,920 2,276,316 2,390,131 2,509,638 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 446,444 468,766 492,205 516,815 542,656 569,788 598,278 628,192 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 16,219,328 16,994,275 17,804,856 18,652,822 19,540,012 20,468,353 21,439,869 22,456,681 235,017 237,123 237,123 236,860 235,233 238,566 235,049 236,466 206,685 206,554 206,306 210,467 209,116 206,111 208,198 - 259,352 260,087 260,507 260,612 260,402 259,877 264,287 262,974 1,706,828 1,707,983 1,709,820 1,708,508 1,710,030 1,710,293 1,710,713 1,708,823 865,784 862,634 863,422 862,634 863,317 863,369 862,792 866,834 468,668 471,398 468,248 469,928 470,998 469,980 468,668 467,040 3,742,334$ 3,745,779$ 3,745,426$ 3,749,009$ 3,749,096$ 3,748,196$ 3,749,707$ 3,542,137$ 19,961,662 20,740,054 21,550,282 22,401,831 23,289,108 24,216,549 25,189,576 25,998,818 (417,000) (417,000) (417,000) (417,000) (417,000) (417,000) (417,000) (417,000) (3,110,358) (3,110,358) (3,110,358) (3,110,358) (3,110,358) (3,110,358) (3,110,358) (3,110,358) 16,434,304$ 17,212,696$ 18,022,924$ 18,874,473$ 19,761,750$ 20,689,191$ 21,662,218$ 22,471,460$ 30,811,031$ 31,889,417$ 33,005,547$ 34,160,741$ 35,356,367$ 36,593,839$ 37,874,624$ 39,200,236$ (3,682,171) (3,682,171) (3,682,171) (3,682,171) (3,682,171) (3,682,171) (3,682,171) (3,682,171) (1,636,594) (1,636,594) (1,636,594) (1,636,594) (1,636,594) (1,636,594) (1,636,594) (1,636,594) 25,492,266$ 26,570,652$ 27,686,782$ 28,841,976$ 30,037,602$ 31,275,074$ 32,555,859$ 33,881,471$ 15 City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates (Continued) For the Years Ended December 31, 2020 (Actual) and 2021 to 2031 (Estimated) 2020 2021 2022 2023 Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Tax Rates General 41.24%39.94%40.11%40.74% EDA 0.00%0.00%0.86%1.08% Proposed capital levies 8.77%8.91%8.88%9.98% Scheduled debt levies 14.71%13.75%13.19%12.82% Proposed debt levies 0.00%0.00%0.00%0.00% Total City Levy Tax Rate 64.72%62.59%62.72%64.23% Total HRA Tax Rate 1.37%1.34%1.54%1.56% Population 22,376 22,505 22,636 22,767 Taxes per Capita 753$ 774$ 805$ 845$ Median Home Value (Jan 2)244,000$ 257,000$ 258,285$ 259,576$ Median Home Taxes (from city)1,480 1,520 1,532 1,578 % change from prior year $'s 5%3%1%3% Tax Levy ($) General 10,511,431$ 10,879,465$ 11,393,354$ 11,934,538$ Street Infrastructure 1,467,333 1,540,700 1,617,735 1,698,622 Economic Development Authority 348,000 365,000 153,000 203,000 HRA - - 417,000 417,000 Park Infrastructure 767,290 885,655 904,938 925,185 Capital levies - - - 300,000 Scheduled debt levies 3,750,662 3,746,781 3,744,984 3,754,053 Proposed debt levies - - - - Tax Levy (%) General 62%62%62%62% Street Infrastructure 9%9%9%9% Economic Development Authority 2%2%1%1% HRA 0%0%2%2% Park Infrastructure 5%5%5%5% Capital levies 0%0%0%2% Scheduled debt levies 22%22%21%20% Proposed debt levies 0%0%0%0% General Fund Percentage Change in Levy (%)1%4%5%5% General Fund Levy Increase/(Decrease)1.32%3.50%4.72%4.75% All Funds Levy Increase/(Decrease)7.50%3.54%4.61%6.81% 16 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 41.29%41.86%42.43%43.02%43.61%44.20%44.81%45.37% 1.29%1.49%1.67%1.83%1.98%2.11%2.23%2.36% 9.99%10.01%10.04%10.07%10.10%10.13%10.18%10.21% 12.34%11.94%11.54%11.16%10.78%10.42%10.07%9.18% 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% 64.47%64.78%65.10%65.44%65.79%66.15%66.54%66.32% 1.49%1.43%1.38%1.32%1.27%1.22%1.17%1.12% 22,898 23,031 23,164 23,298 23,433 23,568 23,705 23,842 872$ 901$ 930$ 962$ 994$ 1,028$ 1,063$ 1,090$ 260,874$ 262,179$ 263,490$ 264,807$ 266,131$ 267,462$ 268,799$ 270,143$ 1,593 1,610 1,627 1,645 1,663 1,682 1,702 1,706 1%1%1%1%1%1%1%0% 12,519,331$ 13,132,778$ 13,776,284$ 14,451,322$ 15,159,437$ 15,902,249$ 16,681,459$ 17,498,851$ 1,783,553 1,872,730 1,966,367 2,064,685 2,167,920 2,276,316 2,390,131 2,509,638 253,000 303,000 353,000 403,000 453,000 503,000 553,000 603,000 417,000 417,000 417,000 417,000 417,000 417,000 417,000 417,000 946,444 968,766 992,205 1,016,815 1,042,656 1,069,788 1,098,278 1,128,192 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,742,334 3,745,779 3,745,426 3,749,009 3,749,096 3,748,196 3,749,707 3,542,137 - - - - - - - - 63%63%64%65%65%66%66%67% 9%9%9%9%9%9%9%10% 1%1%2%2%2%2%2%2% 2%2%2%2%2%2%2%2% 5%5%5%5%4%4%4%4% 2%1%1%1%1%1%1%1% 19%18%17%17%16%15%15%14% 0%0%0%0%0%0%0%0% 5%5%5%5%5%5%5%5% 4.90%4.90%4.90%4.90%4.90%4.90%4.90%4.90% 4.64%4.74%4.71%4.72%4.70%4.69%4.70%3.74% 17 City of New Hope, Minnesota Schedule of Annual Fund Cash Balances For the Years Ended December 31, 2020 (Actual) and 2021 to 2031 (Estimated) 2020 2021 2022 2023 Actual Estimated Estimated Estimated Amounts Amounts Amounts Amounts GOVERNMENT-TYPE General Operations 101 General 8,797,433$ 7,155,769$ 7,155,769$ 7,193,361$ Special Revenue 9002 Drug Task Force Equitable Sharing Funds 10,581 10,581 10,581 10,581 9015 Economic Development Authority (1)4,010,484 1,672,864 1,637,821 1,619,239 9016 Solid Waste Management 191,259 193,247 195,334 197,526 *9017 Ice Arena Endowment 5,505 5,560 5,616 5,672 *9018 CEE Revolving Loan 75,998 76,758 77,526 78,301 *9021 Police Forfeitures 135,571 136,927 138,296 139,679 Subtotal 4,429,398 2,085,356 2,054,593 2,040,417 Debt Service 9117-9121 HRA Bonds (1)(2,122,026) (2,162,888) (2,073,798) (1,990,987) 9144 2015A GO Tax Increment Bonds 277,003 308,821 339,119 373,085 9148 2016A GO Bonds 274,209 302,151 330,685 359,670 9149 2015B GO Bonds 164,592 203,881 237,309 275,558 9150 2017A CIP Bonds 1,468,459 1,960,424 2,067,327 2,172,917 9151 2018A GO Tax Abatement Bonds 284,637 339,320 388,153 446,710 9152 2019A GO Tax Abatement Bonds 377,680 404,678 436,675 463,293 Subtotal 724,554 1,356,386 1,725,470 2,100,246 Capital Projects 9010 Fire Capital Projects 823,809 832,047 840,368 948,771 9202 City Hall CIP 1,411,332 600,000 606,000 712,060 9203 Street Infrastructure 1,779,491 2,180,042 2,101,808 1,061,398 9213-9228 HRA Construction (1)5,355,294 6,059,021 6,577,740 7,045,291 9233 Park Infrastructure 1,474,999 1,489,254 1,206,787 393,687 9234 Park/Pool Improvement Project 698,398 - - - 9242 Temporary Financing 3,249,809 2,883,809 2,786,309 2,154,189 Subtotal 14,793,132 14,044,173 14,119,011 12,315,397 Total - Governmental-type Funds 28,744,517 24,641,684 25,054,843 23,649,420 9402 Central Garage 8,282,096 8,713,195 9,847,171 11,089,638 *9407 Insurance Reserve 625,840 632,098 638,419 644,804 *9408 Employee Leave 1,673,358 1,690,092 1,706,992 1,724,062 *9409 Payroll Clearing 3,940 - - - *9410 Information Technology 583,540 589,375 595,269 601,222 Total - Internal Service Funds 11,168,774 11,624,760 12,787,852 14,059,726 BUSINESS-TYPE Enterprise Funds 9300 Sewer 1,400,403 2,028,652 2,604,567 3,280,650 9301 Water 2,345,370 3,631,202 4,085,145 4,461,250 9302 Golf Course 214,545 175,347 149,683 44,787 9303 Ice Arena 1,404,168 71,364 410,143 660,785 9304 Storm Water 1,024,563 917,977 1,107,779 1,371,952 9305 Street Lighting 70,954 124,469 181,160 (158,811) Total - Business-type Funds 6,460,003 6,949,011 8,538,476 9,660,613 AGENCY FUND *9504 Flexible Spending Fund 7,929 8,008 8,088 8,169 Grand Total - City 46,381,222$ 43,223,463$ 46,389,259$ 47,377,928$ *Annual growth in fund balance of 1% assumed (1)Projections based on TIF Cash Flow Analysis updated by AEM in 2021 Trend Indicator Adequate for reserve levels Adequate as of 2020 but decreasing balances, watch Below targeted reserve levels and should have a plan to address The fund has events in the future that need addressing now INTERNAL SERVICE 18 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Trend 7,290,573$ 7,453,575$ 7,688,995$ 8,003,954$ 8,406,092$ 8,903,605$ 9,505,279$ 10,220,528$ 10,581 10,581 10,581 10,581 10,581 10,581 10,581 10,581 1,608,258 1,609,651 1,624,242 1,601,373 1,385,733 1,184,194 1,119,244 1,065,938 199,828 202,244 204,781 207,445 210,243 213,180 216,264 219,502 5,729 5,786 5,844 5,902 5,961 6,021 6,081 6,142 79,084 79,875 80,673 81,480 82,295 83,118 83,949 84,789 141,076 142,486 143,911 145,350 146,804 148,272 149,755 151,252 2,033,974 2,040,042 2,059,452 2,041,551 1,831,036 1,634,784 1,575,293 1,527,623 (1,910,103) (1,833,069) (1,757,249) (1,659,598) (1,522,416) (1,522,416) (1,522,416) (1,522,416) 403,195 436,621 469,621 502,411 533,957 569,554 600,608 634,568 383,717 410,955 438,295 465,593 492,711 519,507 551,091 579,050 310,472 346,276 382,385 423,455 461,546 498,213 539,014 371,075 2,282,319 2,381,702 2,493,998 2,604,730 2,706,885 2,808,453 2,917,615 3,025,588 497,138 549,216 605,706 661,409 712,844 763,982 814,793 870,495 489,610 520,858 546,655 577,333 607,780 634,685 661,378 687,843 2,456,348 2,812,559 3,179,410 3,575,333 3,993,308 4,271,979 4,562,083 4,646,203 1,058,259 1,168,842 1,280,530 1,393,335 1,507,269 1,622,341 1,738,565 1,855,950 819,181 927,372 1,036,646 1,147,013 1,258,483 1,371,068 1,484,778 1,599,626 717,764 1,633,931 629,484 588,178 109,724 2,193,507 3,384,314 6,170,336 7,544,066 8,053,681 6,664,702 6,989,090 7,033,856 7,033,856 7,033,856 7,033,856 530,759 730,738 943,407 945,177 1,165,289 1,372,340 1,605,069 1,917,913 - - - - - - - - 2,328,164 2,500,638 2,671,613 2,766,088 2,860,562 2,955,037 3,049,512 3,049,512 12,998,193 15,015,203 13,226,383 13,828,880 13,935,182 16,548,149 18,296,094 21,627,193 24,779,087 27,321,378 26,154,240 27,449,719 28,165,618 31,358,517 33,938,749 38,021,547 5,603,924 5,896,145 6,263,501 6,710,353 7,041,288 7,559,126 8,039,918 8,547,680 651,252 657,764 664,342 670,985 677,695 684,472 691,317 698,230 1,741,303 1,758,716 1,776,303 1,794,066 1,812,007 1,830,127 1,848,428 1,866,913 - - - - - - - - 607,234 613,306 619,439 625,634 631,890 638,209 644,591 651,037 8,603,712 8,925,932 9,323,585 9,801,039 10,162,880 10,711,934 11,224,254 11,763,859 3,792,321 4,478,125 5,138,334 5,671,865 6,326,209 6,801,749 7,395,031 8,005,773 5,343,442 3,440,566 4,149,826 5,806,024 6,585,089 8,315,802 10,116,041 9,744,018 27,453 21,678 (6,766) 24,091 46,578 134,391 236,009 337,442 856,212 1,058,574 1,275,223 1,536,537 2,039,251 2,677,171 3,344,446 4,004,518 1,699,224 1,972,098 2,154,114 2,414,761 2,694,724 3,115,034 3,437,012 3,579,217 (99,270) (36,077) 30,957 102,031 177,354 257,145 341,636 431,067 11,619,383 10,934,964 12,741,688 15,555,309 17,869,206 21,301,293 24,870,174 26,102,034 8,251 8,333 8,417 8,501 8,586 8,672 8,759 8,846 45,010,433$ 47,190,607$ 48,227,930$ 52,814,567$ 56,206,290$ 63,380,416$ 70,041,936$ 75,896,287$ 19 City of New Hope, Minnesota Outstanding Debt Schedule For the Years Ended December 31, 2020 (Actual) and 2021 to 2031 (Estimated) 2020 2021 2022 Original Issue Maturity Interest Actual Estimated Estimated Fund Issue Issue Date Date Rate Balance Balance Balance GOVERNMENT-TYPE General Obligation Bonds 9117 G.O. Tax Increment Refunding, Series 2012A 90%2,425,500$ 1/11/2012 2/1/2025 2.00 - 2.45 %1,174,500$ 949,500$ 720,000$ 9118 G.O. Tax Increment Refunding, Series 2012A 10%269,500 1/11/2012 2/1/2025 2.00 - 2.45 130,500 105,500 80,000 9119 G.O. Tax Increment Refunding, Series 2012B 1,330,000 1/11/2012 2/1/2031 1.35 - 4.65 1,005,000 940,000 865,000 9121 G.O. Tax Increment Finance, Series 2015A 1,859,000 6/17/2015 2/1/2032 2.00 - 3.00 1,532,989 1,419,146 1,303,743 9144 G.O. Tax Increment Finance, Series 2015A 2,536,000 6/17/2015 2/1/2032 2.00 - 3.00 2,091,333 1,936,026 1,778,591 9148 G.O Improvement Bonds, Series 2016A 2,824,075 12/29/2016 2/1/2033 2.25 - 3.00 2,515,783 2,355,820 2,190,040 9149 G.O. Improvement Bonds, Series 2015B 2,075,000 12/1/2015 2/1/2031 0.75 - 2.90 1,611,175 1,486,404 1,353,495 9150 G.O Improvement Bonds, Series 2017A 18,435,000 12/28/2017 2/1/2034 3.00 - 5.00 17,530,000 16,580,000 15,605,000 9151 G.O Tax Abatement Bonds, Series 2018A 9,520,000 12/20/2018 2/1/2035 3.00 - 5.00 9,520,000 9,055,000 8,565,000 9152 G.O Tax Abatement Bonds, Series 2019A 5,235,000 7/18/2019 2/1/2035 3.00 - 4.00 5,235,000 4,970,000 4,695,000 Total Government-type 46,509,075 42,346,280 39,797,395 37,155,868 BUSINESS-TYPE General Obligation Bonds 9300 G.O. Tax Increment Finance, Series 2015A 528,000 6/17/2015 2/1/2032 2.00 - 3.00 435,469 403,130 370,348 9301 G.O. Tax Increment Finance, Series 2015A 504,000 6/17/2015 2/1/2032 2.00 - 3.00 415,809 384,930 353,628 9304 G.O. Tax Increment Finance, Series 2015A 533,000 6/17/2015 2/1/2032 2.00 - 3.00 439,401 406,770 373,692 9300 G.O. Improvement Bonds, Series 2015B 200,000 12/1/2015 2/1/2031 0.75 - 2.90 155,294 143,268 130,457 9301 G.O. Improvement Bonds, Series 2015B 1,200,000 12/1/2015 2/1/2031 0.75 - 2.90 931,765 859,608 782,745 9304 G.O. Improvement Bonds, Series 2015B 350,000 12/1/2015 2/1/2031 0.75 - 2.90 271,765 250,719 228,301 9300 G.O Improvement Bonds, Series 2016A 231,901 12/29/2016 2/1/2033 2.25 - 3.00 206,585 193,450 179,836 9301 G.O Improvement Bonds, Series 2016A 1,072,408 12/29/2016 2/1/2033 2.25 - 3.00 955,338 894,594 831,641 9304 G.O Improvement Bonds, Series 2016A 726,616 12/29/2016 2/1/2033 2.25 - 3.00 647,294 606,137 563,482 9303 G.O Tax Abatement Bonds, Series 2021A 2,020,000 3/11/2021 12/1/2028 1.00 - 1,800,000 1,555,000 Total G.O. Bonds 7,365,925 4,458,720 5,942,605 5,369,132 Revenue Bonds 9301 G.O. Public Facilities Authority Note, 2011 411,738 2/23/2011 8/20/2029 1.70 211,000 189,000 167,000 9301 G.O. Public Facilities Authority Note, 2013 1,035,000 7/24/2013 8/20/2032 1.00 688,000 634,000 579,000 9304 G.O. Water Revenue, Series 2010B 605,000 11/23/2010 2/1/2022 2.00 - 3.00 125,000 65,000 - 9301 G.O. Utility Revenue, Series 2010A 775,000 5/6/2010 2/1/2021 2.00 - 3.25 85,000 - - Total G.O. Revenue Bonds 2,826,738 1,109,000 888,000 746,000 Lease revenue bonds 9303 2011A Taxable Lease Revenue Bonds 3,505,000 12/1/2011 12/1/2028 5.00 3,505,000 - - Total Business-type 13,697,663 9,072,720 6,830,605 6,115,132 Total All Funds 60,206,738$ 51,419,000$ 46,628,000$ 43,271,000$ Population 22,376 22,505 22,636 Debt Per Capita - total 2,298$ 2,072$ 1,912$ 20 2023 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Balance Balance Balance Balance Balance Balance Balance Balance Balance 486,000$ 247,500$ -$ -$ -$ -$ -$ -$ -$ 54,000 27,500 - - - - - - - 780,000 690,000 595,000 500,000 395,000 295,000 195,000 95,000 - 1,186,780 1,066,699 945,058 820,298 692,419 561,421 427,304 288,508 146,594 1,619,028 1,455,211 1,289,266 1,119,066 944,611 765,901 582,936 393,588 199,986 2,018,443 1,841,030 1,660,708 1,474,569 1,282,613 1,084,841 881,251 671,845 453,714 1,217,874 1,076,829 933,070 786,600 637,417 482,809 325,489 165,456 - 14,580,000 13,505,000 12,375,000 11,210,000 9,985,000 8,700,000 7,375,000 6,010,000 4,590,000 8,055,000 7,515,000 6,955,000 6,370,000 5,755,000 5,110,000 4,445,000 3,760,000 3,055,000 4,405,000 4,105,000 3,795,000 3,470,000 3,135,000 2,785,000 2,420,000 2,045,000 1,660,000 34,402,126 31,529,767 28,548,101 25,750,532 22,827,059 19,784,971 16,651,979 13,429,397 10,105,293 337,123 303,012 268,458 233,018 196,692 159,480 121,382 81,955 41,642 321,903 289,332 256,338 222,498 187,812 152,280 115,902 78,255 39,762 340,167 305,748 270,882 235,122 198,468 160,920 122,478 82,695 42,018 117,386 103,791 89,935 75,817 61,438 46,536 31,372 15,948 - 704,314 622,745 539,608 454,902 368,628 279,216 188,236 95,687 - 205,425 181,634 157,386 132,680 107,517 81,438 54,902 27,909 - 165,746 151,177 136,370 121,085 105,322 89,082 72,364 55,169 37,257 766,479 699,109 630,634 559,950 487,057 411,955 334,645 255,125 172,292 519,332 473,684 427,289 379,396 330,008 279,122 226,740 172,861 116,737 1,295,000 1,025,000 740,000 445,000 135,000 - - - - 4,772,874 4,155,233 3,516,899 2,859,468 2,177,941 1,660,029 1,268,021 865,603 449,708 144,000 121,000 98,000 74,000 50,000 25,000 - - - 524,000 468,000 412,000 355,000 297,000 239,000 180,000 121,000 61,000 - - - - - - - - - - - - - - - - - - 668,000 589,000 510,000 429,000 347,000 264,000 180,000 121,000 61,000 - - - - - - - - - 5,440,874 4,744,233 4,026,899 3,288,468 2,524,941 1,924,029 1,448,021 986,603 510,708 39,843,000$ 36,274,000$ 32,575,000$ 29,039,000$ 25,352,000$ 21,709,000$ 18,100,000$ 14,416,000$ 10,616,001$ 22,767 22,898 23,031 23,164 23,298 23,433 23,568 23,705 23,842 1,750$ 1,584$ 1,414$ 1,254$ 1,088$ 926$ 768$ 608$ 445$ 21 City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts WMFRD is anticipating equipment replacement over the next 10 years; each city -$ -$ -$ will be responsible for their portion of the cost. -$ -$ -$ City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Projected Revenue, Expenditures and Debt 2021 2022 2023 Estimated Estimated Estimated Revenues Property taxes -$ -$ 100,000$ Interest on investments 8,238 8,320 8,404 Total Revenues 8,238 8,320 108,404 Excess (Deficiency) of Revenues Over (Under) Expenditures 8,238 8,320 108,404 Other Financing Sources Transfer in - - - Transfers out - - - Total Other Financing Sources - - - Net Change in Fund Balances 8,238 8,320 108,404 Fund Balances January 1 823,809 832,047 840,368 Fund Balances, December 31 832,047$ 840,368$ 948,771$ Capital Project Fund Projected Activity 22 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 9,488 10,583 11,688 12,805 13,933 15,073 16,223 17,386 109,488 110,583 111,688 112,805 113,933 115,073 116,223 117,386 109,488 110,583 111,688 112,805 113,933 115,073 116,223 117,386 - - - - - - - - - - - - - - - - - - - - - - - - 109,488 110,583 111,688 112,805 113,933 115,073 116,223 117,386 948,771 1,058,259 1,168,842 1,280,530 1,393,335 1,507,269 1,622,341 1,738,565 1,058,259$ 1,168,842$ 1,280,530$ 1,393,335$ 1,507,269$ 1,622,341$ 1,738,565$ 1,855,950$ Capital Project Fund Projected Activity 23 City of New Hope, Minnesota Capital Improvement Plan - City Hall Capital Projects Fund 9202 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts City Hall 2021 City Hall Remaining Costs 454,309$ 454,309$ -$ -$ 454,309$ -$ -$ City of New Hope, Minnesota Capital Improvement Plan - City Hall Capital Projects Fund 9202 Schedule of Projected Revenue, Expenditures and Debt 2021 2022 2023 Estimated Estimated Estimated Revenues Property taxes -$ -$ 100,000$ Interest on investments 42,977 6,000 6,060 Total Revenues 42,977 6,000 106,060 Expenditures Capital outlay General government 454,309 - - Total Expenditures 454,309 - - Excess (Deficiency) of Revenues Over (Under) Expenditures (411,332) 6,000 106,060 Other Financing Sources Transfers out (remaining bond proceeds to Public Works Facility Fund)(400,000) - - Total Other Financing Sources (400,000) - - Net Change in Fund Balances (811,332) 6,000 106,060 Fund Balances January 1 1,411,332 600,000 606,000 Fund Balances, December 31 600,000$ 606,000$ 712,060$ *Transfers in from General Fund surplus in the amount of $100K were made in: 2012, 2013, 2014, 2015, 2016, and 2018 Capital Project Fund Projected Activity 24 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 7,121 8,192 9,274 10,366 11,470 12,585 13,711 14,848 107,121 108,192 109,274 110,366 111,470 112,585 113,711 114,848 - - - - - - - - - - - - - - - - 107,121 108,192 109,274 110,366 111,470 112,585 113,711 114,848 - - - - - - - - - - - - - - - - 107,121 108,192 109,274 110,366 111,470 112,585 113,711 114,848 712,060 819,181 927,372 1,036,646 1,147,013 1,258,483 1,371,068 1,484,778 819,181$ 927,372$ 1,036,646$ 1,147,013$ 1,258,483$ 1,371,068$ 1,484,778$ 1,599,626$ Capital Project Fund Projected Activity 25 City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Public works 2021 SI Lion's Park parking lot 41,033$ 41,033$ -$ -$ Public works 2021 SI 2021 Local Projects (Crack, Seal Coat & Fog Seal)277,419 277,419 - - Public works 2021 SI 2021 Street & Infrastructure Improvements - Lion's Park (incl parking lot)1,404,605 1,404,605 - - Public works 2021 SI Parks Hidden Valley Parking Lot (Crack, Seal Coat & Fog Seal)10,000 10,000 - - Public works 2021 SI Retaining Walls 80,000 80,000 - - Public works 2021 SI Xylon Maintenance 42,000 42,000 - - Public works 2021 SI Winnetka RR Crossing 24,696 24,696 - - Public works 2021 SI Boone RR Crossing 75,000 75,000 - - Public works 2021 SI Joint Mill and Overlay with Crystal (38th and Louisiana)3,691 3,691 - - Public works 2021 SI Joint Full Reconstruct with Crystal (36th and Louisiana)10,000 10,000 - - Public works 2022 SI Sidewalk replace 100,000 - 100,000 - Public works 2022 SI 2022 Local Projects (Crack, Seal Coat & Fog Seal)458,623 - 458,623 - Public works 2022 SI 42nd Ave Power Bury 727,515 - 727,515 - Public works 2022 SI 2022 Street & Infrastructure Improvements - Liberty Park W 789,131 - 789,131 - Public works 2023 SI Sidewalk replace 100,000 - - 100,000 Public works 2023 SI 42nd Ave & Boone (Multiple Projects: Monument, Trail, Utilities, Lighting & Boone/Gettysburg Signal Replace; Henn Co Rockford Rehab)100,000 - - 100,000 Public works 2023 SI 2023 Local Projects (Crack, Seal Coat & Fog Seal) 512,757 - - 512,757 Public works 2023 SI 42nd Ave & Boone (Multiple Projects: Monument, Trail, Utilities, Lighting & Boone/Gettysburg Signal Replace; Henn Co Rockford Rehab, Bridge) (MSA) 816,604 - - 816,604 Public works 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 2,406,293 - - 2,406,293 Public works 2024 SI Sidewalk replace 100,000 - - - Public works 2024 SI 36th Ave. Bridge Replacement (MSA)100,000 - - - Public works 2024 SI 33rd Place N. and Virginia Ave.145,270 - - - Public works 2024 SI Noise Wall from Bass Lake Road to 62nd Ave 250,000 - - - Public works 2024 SI 2024 Local Projects (Crack, Seal Coat & Fog Seal) 464,869 - - - Public works 2024 SI 2024 Street Infrastructure - 56th & Xylon (MSA)989,028 - - - Public works 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park 1,538,162 - - - Public works 2025 SI 2025 Local Projects (Crack, Seal Coat & Fog Seal) 179,751 - - - Public works 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael 1,045,990 - - - Public works 2025 SI Sidewalk Replacement 100,000 - - - Public works 2026 SI 2026 Local Projects (Crack, Seal Coat & Fog Seal) 370,186 - - - Public works 2026 SI 2026 Street Mill & Overlay 126,554 - - - Public works 2026 SI Sidewalk Replacement 200,000 - - - Public works 2026 SI 2026 Street & Infrastructure Improvements - Northwoods South 2,653,913 - - - Public works 2027 SI Sidewalk Replacement 100,000 - - - Public works 2027 SI 2027 Local Projects (Crack, Seal Coat & Fog Seal) 286,418 - - - Public works 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 2,165,869 - - - Public works 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd (MSA)1,532,065 - - - Public works 2028 SI 2028 Local Projects (Crack, Seal Coat & Fog Seal)523,815 - - - Public works 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 2,568,440 - - - Public works 2029 SI 2029 Local Projects (Crack, Seal Coat & Fog Seal) - S of Northwood 633,630 - - - Public works 2030 SI 2030 Local Projects (Crack, Seal Coat & Fog Seal)145,110 - - - Public works 2030 SI 2030 Street & Infrastructure Improvements - (28th & 29th)1,516,149 - - - Public works 2030 SI 2030 Street & Infrastructure Improvements - (28th & 29th) (MSA)486,931 - - - Public works 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)1,242,846 - - - Public works 2031 SI 2031 Local Projects (Crack, Seal Coat & Fog Seal)197,459 - - - 1,968,444$ 2,075,269$ 3,935,654$ 26 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 100,000 - - - - - - - 100,000 - - - - - - - 145,270 - - - - - - - 250,000 - - - - - - - 464,869 - - - - - - - 989,028 - - - - - - - 1,538,162 - - - - - - - - 179,751 - - - - - - - 1,045,990 - - - - - - - 100,000 - - - - - - - - 370,186 - - - - - - - 126,554 - - - - - - - 200,000 - - - - - - - 2,653,913 - - - - - - - - 100,000 - - - - - - - 286,418 - - - - - - - 2,165,869 - - - - - - - 1,532,065 - - - - - - - - 523,815 - - - - - - - 2,568,440 - - - - - - - - 633,630 - - - - - - - - 145,110 - - - - - - - 1,516,149 - - - - - - - 486,931 - - - - - - - - 1,242,846 - - - - - - - 197,459 3,587,329$ 1,325,741$ 3,350,653$ 4,084,352$ 3,092,255$ 633,630$ 2,148,190$ 1,440,305$ 27 City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Projected Revenue, Expenditures and Debt 2021 2022 2023 Estimated Estimated Estimated Revenues Property taxes (5% increase annually)1,540,700$ 1,617,735$ 1,698,622$ Interest on investments 22,295 21,800 21,018 Franchise fees 440,000 440,000 440,000 Total Revenues 2,002,995 2,079,535 2,159,640 Expenditures Capital outlay Public works 1,968,444 2,075,269 3,935,654 Total Expenditures 1,968,444 2,075,269 3,935,654 Excess (Deficiency) of Revenues Over (Under) Expenditures 34,551 4,266 (1,776,014) Other Financing Sources Intergovernmental revenue (Municipal State Aid - MSA)- - 816,604 Interfund loan repayment ($750,000 loan from Temporary Financing Fund issued in 2016)(84,000) (82,500) (81,000) Total Other Financing Sources (84,000) (82,500) 735,604 Net Change in Fund Balances (49,449) (78,234) (1,040,410) Fund Balances January 1 2,229,491 2,180,042 2,101,808 Fund Balances, December 31 2,180,042$ 2,101,808$ 1,061,398$ Capital Project Fund Projected Activity 28 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,783,553$ 1,872,730$ 1,966,367$ 2,064,685$ 2,167,920$ 2,276,316$ 2,390,131$ 2,509,638$ 10,614 7,178 16,339 6,295 5,882 1,097 21,935 33,843 440,000 440,000 440,000 440,000 440,000 440,000 440,000 440,000 2,234,167 2,319,908 2,422,706 2,510,980 2,613,801 2,717,413 2,852,066 2,983,481 3,587,329 1,325,741 3,350,653 4,084,352 3,092,255 633,630 2,148,190 1,440,305 3,587,329 1,325,741 3,350,653 4,084,352 3,092,255 633,630 2,148,190 1,440,305 (1,353,162) 994,167 (927,947) (1,573,372) (478,454) 2,083,783 703,876 1,543,176 1,089,028 - - 1,532,065 - - 486,931 1,242,846 (79,500) (78,000) (76,500) - - - - - 1,009,528 (78,000) (76,500) 1,532,065 - - 486,931 1,242,846 (343,634) 916,167 (1,004,447) (41,307) (478,454) 2,083,783 1,190,807 2,786,022 1,061,398 717,764 1,633,931 629,484 588,178 109,724 2,193,507 3,384,314 717,764$ 1,633,931$ 629,484$ 588,178$ 109,724$ 2,193,507$ 3,384,314$ 6,170,336$ Capital Project Fund Projected Activity 29 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Parks & Recreation 2021 Parks concrete, trail work 75,000$ 75,000$ -$ -$ Parks & Recreation 2021 Parks Corner Park play equipment project 185,000 185,000 - - Parks & Recreation 2021 Parks frisbee golf equipment 12,000 12,000 - - Parks & Recreation 2021 Parks court, equipment painting, benches 100,000 100,000 - - Parks & Recreation 2021 Parks lighting improvements 68,000 68,000 - - Parks & Recreation 2021 Parks maintenance (garages)22,000 22,000 - - Parks & Recreation 2022 Parks addition of bocce ball courts 25,000 - 25,000 - Parks & Recreation 2022 Cgyms pitching machines 5,000 - 5,000 - Parks & Recreation 2022 Parks concrete, trail work 75,000 - 75,000 - Parks & Recreation 2022 Parks Hidden Valley Park play equipment project 250,000 - 250,000 - Parks & Recreation 2022 Parks lighting improvements 100,000 - 100,000 - Parks & Recreation 2022 Parks Civic Center hockey rink 220,000 - 220,000 - Parks & Recreation 2022 Parks maintenance (courts, equipment painting, benches and picnic tables)80,000 - 80,000 - Parks & Recreation 2023 Parks Lighted Baseball Field 690,000 - - 690,000 Parks & Recreation 2023 Parks concrete, trail work 75,000 - - 75,000 Parks & Recreation 2023 Parks Hidden Valley Hockey rink 100,000 - - 100,000 Parks & Recreation 2023 Parks hockey rink fencing 10,000 - - 10,000 Parks & Recreation 2023 Parks Liberty Park play equipment project 200,000 - - 200,000 Parks & Recreation 2023 Parks lighting improvements 75,000 - - 75,000 Parks & Recreation 2023 Parks maintenance 155,000 - - 155,000 Parks & Recreation 2024 Parks concrete, trail work 50,000 - - - Parks & Recreation 2024 Parks Elm Grove Park play equipment project 170,000 - - - Parks & Recreation 2024 Parks lighting improvements 75,000 - - - Parks & Recreation 2024 Parks maintenance 35,000 - - - Parks & Recreation 2024 Parks outdoor fitness equipment 40,000 - - - Parks & Recreation 2025 Parks concrete, trail work 50,000 - - - Parks & Recreation 2025 Parks lighting improvements 75,000 - - - Parks & Recreation 2025 Parks maintenance 85,000 - - - Parks & Recreation 2025 Parks picnic shelter at Northwood 125,000 - - - Parks & Recreation 2026 Parks concrete, trail work 50,000 - - - Parks & Recreation 2026 Parks Holiday Park play equipment project 200,000 - - - Parks & Recreation 2026 Parks lighting improvements 75,000 - - - Parks & Recreation 2026 Parks maintenance 25,000 - - - Parks & Recreation 2027 Parks concrete, trail work 50,000 - - - Parks & Recreation 2027 Parks lighting improvements; retro fit Lighted softball field 305,000 - - - Parks & Recreation 2027 Parks maintenance 135,000 - - - Parks & Recreation 2027 Parks pavilion 100,000 - - - Parks & Recreation 2028 Parks concrete, trail work 75,000 - - - Parks & Recreation 2028 Parks lighting improvements 75,000 - - - Parks & Recreation 2028 Parks maintenance 100,000 - - - Parks & Recreation 2028 Parks shelter roofs 150,000 - - - Parks & Recreation 2029 Parks concrete, trail work 100,000 - - - Parks & Recreation 2029 Parks maintenance 135,000 - - - Parks & Recreation 2029 Parks Lions Park playground project 210,000 - - - Parks & Recreation 2030 Parks Civic Center playground project 250,000 - - - Parks & Recreation 2030 Parks maintenance 105,000 - - - Parks & Recreation 2030 Parks concrete, trail work 100,000 - - - Parks & Recreation 2031 Parks Terra Linda playground project 200,000 - - - Parks & Recreation 2031 Parks maintenance 85,000 - - - Parks & Recreation 2031 Parks concrete, trail work 50,000 - - - Parks & Recreation 2031 Parks lighting improvements 75,000 - - - 462,000$ 755,000$ 1,305,000$ 30 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 50,000 - - - - - - - 170,000 - - - - - - - 75,000 - - - - - - - 35,000 - - - - - - - 40,000 - - - - - - - - 50,000 - - - - - - - 75,000 - - - - - - - 85,000 - - - - - - - 125,000 - - - - - - - - 50,000 - - - - - - - 200,000 - - - - - - - 75,000 - - - - - - - 25,000 - - - - - - - - 50,000 - - - - - - - 305,000 - - - - - - - 135,000 - - - - - - - 100,000 - - - - - - - - 75,000 - - - - - - - 75,000 - - - - - - - 100,000 - - - - - - - 150,000 - - - - - - - - 100,000 - - - - - - - 135,000 - - - - - - - 210,000 - - - - - - - - 250,000 - - - - - - - 105,000 - - - - - - - 100,000 - - - - - - - - 200,000 - - - - - - - 85,000 - - - - - - - 50,000 - - - - - - - 75,000 370,000$ 335,000$ 350,000$ 590,000$ 400,000$ 445,000$ 455,000$ 410,000$ 31 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Projected Revenue, Expenditures and Debt 2021 2022 2023 Estimated Estimated Estimated Amounts Amounts Amounts Revenues Property taxes (5% increase annually)385,655$ 404,938$ 425,185$ Additional property tax levy for Ice 500,000 500,000 500,000 Grant revenues 25,000 - - Interest on investments 14,750 14,893 12,068 Miscellaneous (Leases - cell and radio towers; developer revenue)50,850 52,702 54,648 Total Revenues 976,255 972,533 991,901 Expenditures Capital outlay Parks & Recreation 462,000 755,000 1,305,000 Total Expenditures 462,000 755,000 1,305,000 Excess (Deficiency) of Revenues Over (Under) Expenditures 514,255 217,533 (313,099) Other Financing Sources Bond proceeds - - - Transfers out (Ice Arena levy transfer)(500,000) (500,000) (500,000) Total Other Financing Sources (500,000) (500,000) (500,000) Net Change in Fund Balances 14,255 (282,467) (813,099) Fund Balances January 1 1,474,999 1,489,254 1,206,787 Fund Balances, December 31 1,489,254$ 1,206,787$ 393,687$ Capital Project Fund Projected Activity 32 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 446,444$ 468,766$ 492,205$ 516,815$ 542,656$ 569,788$ 598,278$ 628,192$ 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 - - - - - - - - 3,937 5,308 7,307 9,434 9,452 11,653 13,723 16,051 56,691 60,905 63,157 65,521 68,004 70,610 75,728 78,601 1,007,072 1,034,979 1,062,669 1,091,770 1,120,111 1,152,051 1,187,729 1,222,843 370,000 335,000 350,000 590,000 400,000 445,000 455,000 410,000 370,000 335,000 350,000 590,000 400,000 445,000 455,000 410,000 637,072 699,979 712,669 501,770 720,111 707,051 732,729 812,843 - - - - - - (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) 137,072 199,979 212,669 1,770 220,111 207,051 232,729 312,843 393,687 530,759 730,738 943,407 945,177 1,165,289 1,372,340 1,605,069 530,759$ 730,738$ 943,407$ 945,177$ 1,165,289$ 1,372,340$ 1,605,069$ 1,917,913$ Capital Project Fund Projected Activity 33 City of New Hope, Minnesota Capital Improvement Plan - Central Garage Fund 9402 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Public Works 2021 CG Public Works Reduced Project Scope Improvements 1,632,852$ 1,632,852$ -$ -$ Public Works 2021 CG Equipment - Central Garage Master Asset List 1,048,717 1,048,717 - - Public Works 2021 CG Replace 50,000 Lb Truck Lift 200,000 200,000 - - Public Works 2022 CG Equipment - Central Garage Master Asset List 1,306,907 - 1,306,907 - Public Works 2023 CG Equipment - Central Garage Master Asset List 1,272,135 - - 1,272,135 Public Works 2024 CG Public Works Remaining Expansion Improvements 5,767,592 - - - Public Works 2024 CG Equipment - Central Garage Master Asset List 1,204,489 - - - Public Works 2025 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2026 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2027 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2028 CG Paint inside PW 200,000 - - - Public Works 2028 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2029 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2029 CG Seal Coat and Fog parking lot 100,000 - - - Public Works 2030 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2030 CG Replace roof 200,000 - - - Public Works 2030 CG Replace roof unit 30,000 - - - Public Works 2031 CG Equipment - Central Garage Master Asset List 1,208,062 - - - Public Works 2031 CG Paint inside PW, New Door, Security Camera Upgrades 300,000 - - - 2,881,569$ 1,306,907$ 1,272,135$ (1)Equipment replacement for years 2025-2031 calculated using an average of years 2021 through 2024. City of New Hope, Minnesota Capital Improvement Plan - Central Garage Fund 9402 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from interfund services provided (5% growth annually)2,260,641$ 2,373,673$ 2,492,356$ Payments to suppliers and employees (5% growth annually)(1,072,457) (1,126,080) (1,182,384) Net Cash Provided (Used) by Operating Activities 1,188,183 1,247,592 1,309,972 Cash Flows from Capital and Related Financing Activities Transfer of grant revenues and unspent bond proceeds 2,041,664 1,106,158 1,106,158 Acquisition of capital assets (2,881,569) (1,306,907) (1,272,135) Net Cash Used by Capital and Related Financing Activities (839,905) (200,749) (165,977) Cash Flows from Investing Activities Investment earnings 82,821 87,132 98,472 Net Increase (Decrease) in Cash and Cash Equivalents 431,099 1,133,976 1,242,467 Cash and Cash Equivalents, January 1 8,282,096 8,713,195 9,847,171 Cash and Cash Equivalents, December 31 8,713,195$ 9,847,171$ 11,089,638$ Department Enterprise Fund Projected Activity 34 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 5,767,592 - - - - - - - 1,204,489 - - - - - - - - 1,208,062 - - - - - - - - 1,208,062 - - - - - - - - 1,208,062 - - - - - - - - 200,000 - - - - - - - 1,208,062 - - - - - - - - 1,208,062 - - - - - - - 100,000 - - - - - - - - 1,208,062 - - - - - - - 200,000 - - - - - - - 30,000 - - - - - - - - 1,208,062 - - - - - - - 300,000 6,972,081$ 1,208,062$ 1,208,062$ 1,208,062$ 1,408,062$ 1,308,062$ 1,438,062$ 1,508,062$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 2,616,974$ 2,747,823$ 2,885,214$ 3,029,475$ 3,180,948$ 3,339,996$ 3,506,995$ 3,682,345$ (1,241,503) (1,303,579) (1,368,758) (1,437,195) (1,509,055) (1,584,508) (1,663,733) (1,746,920) 1,375,471 1,444,244 1,516,456 1,592,279 1,671,893 1,755,488 1,843,262 1,935,425 - - - - - - - - (6,972,081) (1,208,062) (1,208,062) (1,208,062) (1,408,062) (1,308,062) (1,438,062) (1,508,062) (6,972,081) (1,208,062) (1,208,062) (1,208,062) (1,408,062) (1,308,062) (1,438,062) (1,508,062) 110,896 56,039 58,961 62,635 67,104 70,413 75,591 80,399 (5,485,714) 292,221 367,356 446,852 330,935 517,839 480,791 507,762 11,089,638 5,603,924 5,896,145 6,263,501 6,710,353 7,041,288 7,559,126 8,039,918 5,603,924$ 5,896,145$ 6,263,501$ 6,710,353$ 7,041,288$ 7,559,126$ 8,039,918$ 8,547,680$ Enterprise Fund Projected Activity 35 City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Sewer 2021 SS 2021 Line sewer pipes 350,000$ 350,000$ -$ -$ Sewer 2021 SI 2021 Street & Infrastructure Improvements - Lion's Park 88,014 88,014 - - Sewer 2021 SS Bass Lake Road 67,500 67,500 - - Sewer 2022 SI 2022 Rebuild 10.5 Lift station and pump pipe 150,000 - 150,000 - Sewer 2022 SI 2022 Street & Infrastructure Improvements - Liberty Park W 84,268 - 84,268 - Sewer 2022 SS 2022 Line sewer pipes 350,000 - 350,000 - Sewer 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 100,000 - - 100,000 Sewer 2023 SS 42nd Avenue Rehab 60,000 - - 60,000 Sewer 2023 SS 2023 Line sewer pipes 350,000 - - 350,000 Sewer 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park 100,000 - - - Sewer 2024 SS 2024 Line sewer pipes 450,000 - - - Sewer 2024 SS 2024 Rebuild lift station pipes and pump 150,000 - - - Sewer 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael 100,000 - - - Sewer 2025 SS 2025 Line sewer pipes 450,000 - - - Sewer 2026 SI 2026 Street & Infrastructure Improvements - Northwoods South 150,000 - - - Sewer 2026 SS 2026 Line sewer pipes 450,000 - - - Sewer 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 100,000 - - - Sewer 2027 SS 2027 Line sewer pipes 500,000 - - - Sewer 2027 SS 2027 Rebuild lift station pipes and pump 150,000 - - - Sewer 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 100,000 - - - Sewer 2028 SS 2028 Line sewer pipes 550,000 - - - Sewer 2029 SI 2029 Street & Infrastructure Improvements - S of Northwood 100,000 - - - Sewer 2029 SS 2029 Line sewer pipes 600,000 - - - Sewer 2029 SS 2029 Rebuild lift station pipes and pump 150,000 - - - Sewer 2030 SS 2030 Line sewer pipes 600,000 - - - Sewer 2030 SI 2030 Street & Infrastructure Improvements - (28th & 29th)150,000 - - - Sewer 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)150,000 - - - Sewer 2031 SS 2031 Line sewer pipes 600,000 - - - 505,514$ 584,268$ 510,000$ City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)3,947,830$ 4,105,743$ 4,269,972$ Payments to suppliers and employees (5% growth assumption)(2,749,907) (2,887,402) (3,031,772) Net Cash Provided (Used) by Operating Activities 1,197,923 1,218,340 1,238,200 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (505,514) (584,268) (510,000) Existing principal and interest paid on long-term debt (78,164) (78,444) (78,162) Net Cash Provided (Used) by Capital and Related Financing Activities (583,678) (662,712) (588,162) Cash Flows from Investing Activities Investment earnings 14,004 20,287 26,046 Net Increase (Decrease) in Cash and Cash Equivalents 628,249 575,915 676,084 Cash and Cash Equivalents, January 1 1,400,403 2,028,652 2,604,567 Cash and Cash Equivalents, December 31 2,028,652$ 2,604,567$ 3,280,650$ Enterprise Fund Projected Activity 36 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 100,000 - - - - - - - 450,000 - - - - - - - 150,000 - - - - - - - - 100,000 - - - - - - - 450,000 - - - - - - - - 150,000 - - - - - - - 450,000 - - - - - - - - 100,000 - - - - - - - 500,000 - - - - - - - 150,000 - - - - - - - - 100,000 - - - - - - - 550,000 - - - - - - - - 100,000 - - - - - - - 600,000 - - - - - - - 150,000 - - - - - - - - 600,000 - - - - - - - 150,000 - - - - - - - - 150,000 - - - - - - - 600,000 700,000$ 550,000$ 600,000$ 750,000$ 650,000$ 850,000$ 750,000$ 750,000$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 4,440,771$ 4,618,402$ 4,803,138$ 4,995,264$ 5,195,074$ 5,402,877$ 5,618,993$ 5,843,752$ (3,183,361) (3,342,529) (3,509,656) (3,685,138) (3,869,395) (4,062,865) (4,266,008) (4,479,309) 1,257,410 1,275,873 1,293,483 1,310,126 1,325,679 1,340,012 1,352,984 1,364,444 (700,000) (550,000) (600,000) (750,000) (650,000) (850,000) (750,000) (750,000) (78,546) (77,993) (78,055) (77,978) (78,053) (77,735) (77,720) (77,652) (778,546) (627,993) (678,055) (827,978) (728,053) (927,735) (827,720) (827,652) 32,807 37,923 44,781 51,383 56,719 63,262 68,017 73,950 511,671 685,803 660,209 533,531 654,345 475,540 593,282 610,742 3,280,650 3,792,321 4,478,125 5,138,334 5,671,865 6,326,209 6,801,749 7,395,031 3,792,321$ 4,478,125$ 5,138,334$ 5,671,865$ 6,326,209$ 6,801,749$ 7,395,031$ 8,005,773$ Enterprise Fund Projected Activity 37 City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Water 2021 SI 2021 Street & Infrastructure Improvements - Lion's Park 131,493$ 131,493$ -$ -$ Water 2021 SI Joint Full Reconstruct w/ Crystal (36th and Louisiana)10,000 10,000 Water 2022 WA Sensus Water Meters - 2022 37,340 - 37,340 - Water 2022 WA Watermain - Bass Lake Rd and 169 Ramp 590,495 - 590,495 - Water 2022 SI 2022 Street & Infrastructure Improvements - Liberty Park W 475,711 - 475,711 - Water 2023 WA Sensus Water Meters - 2023 15,587 - - 15,587 Water 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 50,000 - - 50,000 Water 2023 WA 42nd Ave - Gettysburg to Boone Ave (Henn Co Rockford Rehab)1,154,000 - - 1,154,000 Water 2023 WA JWC - Repaint South Water Tower 1,500,000 - - 1,500,000 Water 2024 WA Sensus Water Meters - 2024 16,055 - - - Water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park 60,000 - - - Water 2024 SI 33rd Place N & Virginia Ave.672,343 - - - Water 2025 WA Sensus Water Meters - 2025 16,536 - - - Water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael 60,000 - - - Water 2025 WA Water meter replacement to AMI 3,500,000 - - - Water 2026 SI 2026 Street & Infrastructure Improvements - Northwoods South 975,000 - - - Water 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 65,000 - - - Water 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 70,000 - - - Water 2028 WA Infrastructure - Gettysburg 60th to 62nd 916,000 - - - Water 2029 SI 2029 Local Projects (Crack, Seal Coat & Fog Seal) - S of Northwood 70,000 - - - Water 2030 SI 2030 Street & Infrastructure Improvements (28th & 29th)70,000 - - - Water 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)2,282,198 - - - 141,493$ 1,103,546$ 2,719,587$ City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)5,651,721$ 5,877,790$ 6,112,901$ Payments to suppliers and employees (5% growth assumption)(3,848,668) (4,041,101) (4,243,156) Net Cash Provided (Used) by Operating Activities 1,803,053 1,836,688 1,869,745 Cash Flows From Capital and Related Financing Activities Acquisition of capital assets (141,493) (1,103,546) (2,719,587) Intergovernmental (Joint Water Commission)- - 1,500,000 Existing principal and interest paid on long-term debt (399,182) (315,511) (314,905) Net Cash Used by Capital and Related Financing Activities (540,675) (1,419,057) (1,534,492) Cash Flows from Investing Activities Investment earnings 23,454 36,312 40,851 Net Increase (Decrease) in Cash and Cash Equivalents 1,285,832 453,943 376,104 Cash and Cash Equivalents, January 1 2,345,370 3,631,202 4,085,145 Cash and Cash Equivalents, December 31 3,631,202$ 4,085,145$ 4,461,250$ Enterprise Fund Projected Activity 38 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16,055 - - - - - - - 60,000 - - - - - - - 672,343 - - - - - - - - 16,536 - - - - - - - 60,000 - - - - - - - 3,500,000 - - - - - - - - 975,000 - - - - - - - - 65,000 - - - - - - - - 70,000 - - - - - - - 916,000 - - - - - - - - 70,000 - - - - - - - - 70,000 - - - - - - - - 2,282,198 748,398$ 3,576,536$ 975,000$ 65,000$ 986,000$ 70,000$ 70,000$ 2,282,198$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 6,357,417$ 6,611,714$ 6,876,183$ 7,151,230$ 7,437,279$ 7,734,770$ 8,044,161$ 8,365,928$ (4,455,314) (4,678,080) (4,911,984) (5,157,583) (5,415,462) (5,686,235) (5,970,547) (6,269,074) 1,902,103 1,933,634 1,964,199 1,993,647 2,021,817 2,048,535 2,073,614 2,096,853 (748,398) (3,576,536) (975,000) (65,000) (986,000) (70,000) (70,000) (2,282,198) - - - - - - - - (316,125) (313,409) (314,344) (313,947) (314,812) (313,673) (286,533) (287,839) (1,064,523) (3,889,945) (1,289,344) (378,947) (1,300,812) (383,673) (356,533) (2,570,037) 44,612 53,434 34,406 41,498 58,060 65,851 83,158 101,160 882,193 (1,902,876) 709,260 1,656,198 779,065 1,730,713 1,800,239 (372,024) 4,461,250 5,343,442 3,440,566 4,149,826 5,806,024 6,585,089 8,315,802 10,116,041 5,343,442$ 3,440,566$ 4,149,826$ 5,806,024$ 6,585,089$ 8,315,802$ 10,116,041$ 9,744,018$ Enterprise Fund Projected Activity 39 City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Storm water 2021 SI 2021 Street & Infrastructure Improvements - Lion's Park 228,744$ 228,744$ -$ -$ Storm water 2021 SW Required TMDL projects 100,000 100,000 - - Storm water 2021 SW MLR/Rosalyn Court - Flood Mitigation Project 50,000 50,000 - - Storm water 2021 BW Bass Lake Rd (Henn Co)67,500 67,500 - - Storm water 2021 SI Joint Full Reconstruct w/ Crystal (36th & Louisiana)50,000 50,000 - - Storm water 2021 Storm water pipe replacement between Meadow Lake and GC 70,000 70,000 - - Storm water 2022 SI 2022 Street & Infrastructure Improvements - Liberty Park W 110,457 - 110,457 - Storm water 2022 SW Required TMDL projects 100,000 - 100,000 - Storm water 2023 SW 42nd Avenue Rehab (Henn Co)40,000 - - 40,000 Storm water 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 80,000 - - 80,000 Storm water 2023 SW Required TMDL projects 100,000 - - 100,000 Storm water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park 75,000 - - - Storm water 2024 SW Required TMDL projects 100,000 - - - Storm water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael 150,000 - - - Storm water 2025 SW Required TMDL projects 100,000 - - - Storm water 2026 SI 2026 Street & Infrastructure Improvements - Northwoods South 260,000 - - - Storm water 2026 SW Required TMDL projects 100,000 - - - Storm water 2027 SW Required TMDL projects 100,000 - - - Storm water 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 200,000 - - - Storm water 2028 SW Required TMDL projects 100,000 - - - Storm water 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 200,000 - - - Storm water 2029 SW Required TMDL projects 100,000 - - - Storm water 2029 SI 2029 Street & Infrastructure Improvements - S of Northwood 80,000 - - - Storm water 2030 SW Required TMDL projects 100,000 - - - Storm water 2030 SI 2030 Street & Infrastructure Improvements (28th & 29th)200,000 - - - Storm water 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th 400,000 - - - Storm water 2031 SW Required TMDL projects 100,000 - - - 566,244$ 210,457$ 220,000$ City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)1,314,465$ 1,367,044$ 1,421,726$ Payments to suppliers and employees (5% growth assumption)(740,718) (777,754) (816,642) Net Cash Provided (Used) by Operating Activities 573,747 589,290 605,084 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (566,244) (210,457) (220,000) Intergovernmental revenue (Meadow Lake Draw Down)70,000 - - Existing principal and interest paid on long-term debt (194,335) (198,210) (131,989) Net Cash Used by Capital and Related Financing Activities (690,579) (408,667) (351,989) Cash Flows From Investing Activities Investment earnings 10,246 9,180 11,078 Net Increase (Decrease) in Cash and Cash Equivalents (106,586) 189,803 264,173 Cash and Cash Equivalents, January 1 1,024,563 917,977 1,107,779 Cash and Cash Equivalents, December 31 917,977$ 1,107,779$ 1,371,952$ Enterprise Fund Projected Activity 40 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 75,000 - - - - - - - 100,000 - - - - - - - - 150,000 - - - - - - - 100,000 - - - - - - - - 260,000 - - - - - - - 100,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 100,000 - - - - - - - 80,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 400,000 - - - - - - - 100,000 175,000$ 250,000$ 360,000$ 300,000$ 300,000$ 180,000$ 300,000$ 500,000$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,478,595$ 1,537,739$ 1,599,248$ 1,663,218$ 1,729,747$ 1,798,937$ 1,870,894$ 1,945,730$ (857,474) (900,348) (945,365) (992,633) (1,042,265) (1,094,378) (1,149,097) (1,206,552) 621,121 637,391 653,883 670,585 687,482 704,558 721,797 739,178 (175,000) (250,000) (360,000) (300,000) (300,000) (180,000) (300,000) (500,000) - - - - - - - - (132,568) (131,509) (131,588) (131,479) (131,666) (131,196) (130,969) (131,343) (307,568) (381,509) (491,588) (431,479) (431,666) (311,196) (430,969) (631,343) 13,720 16,992 19,721 21,541 24,148 26,947 31,150 34,370 327,272 272,874 182,016 260,647 279,963 420,310 321,978 142,205 1,371,952 1,699,224 1,972,098 2,154,114 2,414,761 2,694,724 3,115,034 3,437,012 1,699,224$ 1,972,098$ 2,154,114$ 2,414,761$ 2,694,724$ 3,115,034$ 3,437,012$ 3,579,217$ Enterprise Fund Projected Activity 41 City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 2023 SI 42nd Ave & Boone (Multiple Projects: Monument, Trail/Power Bury, Utilities, Lighting & Boone/Gettysburg Signal Replace; Henn Co Rockford Rehab) 400,000$ -$ -$ 400,000$ -$ -$ 400,000$ City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (5% growth assumption)171,807$ 180,398$ 189,418$ Payments to suppliers and employees (5% growth assumption)(119,002) (124,952) (131,199) Net Cash Provided (Used) by Operating Activities 52,806 55,446 58,218 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets - - (400,000) Cash Flows From Investing Activities Investment Earnings 710 1,245 1,812 Net Increase (Decrease) in Cash and Cash Equivalents 53,515 56,691 (339,970) Cash and Cash Equivalents, January 1 70,954 124,469 181,160 Cash and Cash Equivalents, December 31 124,469$ 181,160$ (158,811)$ Enterprise Fund Projected Activity 42 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 198,888$ 208,833$ 219,274$ 230,238$ 241,750$ 253,838$ 266,530$ 279,856$ (137,759) (144,647) (151,880) (159,474) (167,447) (175,820) (184,611) (193,841) 61,129 64,185 67,395 70,764 74,303 78,018 81,919 86,015 - - - - - - - - (1,588) (993) (361) 310 1,020 1,774 2,571 3,416 59,541 63,193 67,034 71,074 75,323 79,791 84,490 89,431 (158,811) (99,270) (36,077) 30,957 102,031 177,354 257,145 341,636 (99,270)$ (36,077)$ 30,957$ 102,031$ 177,354$ 257,145$ 341,636$ 431,067$ Enterprise Fund Projected Activity 43 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Schedule of Planned Capital Outlay 2021 to 2031 2021 2022 2023 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Ice Arena 2021 IA dehumidification system 140,000$ 140,000$ -$ -$ Ice Arena 2021 IA scoreboard (south rink)25,000 25,000 - - Ice Arena 2021 IA security cameras 50,000 50,000 - - Ice Arena 2021 IA door security 10,000 10,000 - - Ice Arena 2021 IA skate tile replacement 15,000 15,000 - - Ice Arena 2021 IA radiant heaters (north rink)25,000 25,000 - - Ice Arena 2021 IA replace roof and skylight (south rink)450,000 450,000 - - Ice Arena 2022 IA replace dasher boards and glass (north rink)210,000 - 210,000 - Ice Arena 2022 IA HVAC upgrades 50,000 - 50,000 - Ice Arena 2022 IA weight room upgrades 20,000 - 20,000 - Ice Arena 2023 IA meeting room carpet 8,000 - - 8,000 Ice Arena 2023 IA Zamboni room garage doors 15,000 - - 15,000 Ice Arena 2023 IA rebuild compressors 22,000 - - 22,000 Ice Arena 2023 IA bleacher caps (north rink)25,000 - - 25,000 Ice Arena 2023 IA concession stand upgrades 30,000 - - 30,000 Ice Arena 2023 IA replace water heaters 40,000 - - 40,000 Ice Arena 2023 IA re-cement floor and replace glass and boards (south rink) 757,120 - - 757,120 Ice Arena 2024 IA community room tile 20,000 - - - Ice Arena 2024 IA HVAC upgrades (south rink)50,000 - - - Ice Arena 2024 IA remodel bathrooms 50,000 - - - Ice Arena 2024 IA replace bleacher caps (south rink)25,000 - - - Ice Arena 2025 IA HVAC upgrades (south rink)50,000 - - - Ice Arena 2025 IA system relief valves 8,000 - - - Ice Arena 2025 IA reader board 55,000 - - - Ice Arena 2025 IA skate tile for locker rooms 20,000 - - - Ice Arena 2026 IA rebuild compressors 24,000 - - - Ice Arena 2026 IA shower replacement 20,000 - - - Ice Arena 2026 IA HVAC upgrades 75,000 - - - Ice Arena 2027 IA overhead doors 25,000 - - - Ice Arena 2027 IA water heater for showers 15,000 - - - Ice Arena 2027 IA remodel bathrooms (lower level public)30,000 - - - Ice Arena 2028 IA protective netting 15,000 - - - Ice Arena 2029 IA rebuild compressors 27,000 - - - Ice Arena 2030 IA system relief valves 10,000 - - - Ice Arena 2031 IA replace water heaters 30,000 - - - 715,000$ 280,000$ 897,120$ Department 44 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 20,000 - - - - - - - 50,000 - - - - - - - 50,000 - - - - - - - 25,000 - - - - - - - - 50,000 - - - - - - - 8,000 - - - - - - - 55,000 - - - - - - - 20,000 - - - - - - - -24,000 - - - - - - - 20,000 - - - - - - - 75,000 - - - - - - - -25,000 - - - - - - - 15,000 - - - - - - - 30,000 - - - - - - - - 15,000 - - - - - - - - 27,000 - - - - - - - - 10,000 - - - - - - - - 30,000 145,000$ 133,000$ 119,000$ 70,000$ 15,000$ 27,000$ 10,000$ 30,000$ 45 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (enterprise assumption of 2.5% growth)1,026,456$ 1,052,117$ 1,078,420$ Payments to suppliers and employees (enterprise modified assumption of 2.5% growth)(819,257) (839,738) (860,732) Net Cash Provided (Used) by Operating Activities 207,199 212,379 217,688 Cash Flows from Noncapital Financing Activities Transfers in (levy, Park Infrastructure Fund)500,000 500,000 500,000 Transfers out (administrative charges)(11,038) (11,314) (11,597) Net Cash Provided (Used) by Noncapital Financing Activities 488,962 488,686 488,403 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (715,000) (280,000) (897,120) Proceeds from bonds and notes issued or interfund loan 2,470,000 210,000 757,120 Existing Principal and interest paid on long-term debt (234,589) (263,000) (275,550) Payment for refunding of bonds (3,563,417) - - Interfund loan payments (from Temp Financing for 2021-2023 improvements)- (30,000) (44,000) Net Cash Used by Capital and Related Financing Activities (2,043,006) (363,000) (459,550) Cash Flows from Investing Activities 14,042 714 4,101 (1,332,804) 338,778 250,643 (155,885) 71,364 410,143 1,560,053 - - 1,404,168 71,364 410,143 (1,698,689) 410,143 660,785 1,770,053 - - 71,364$ 410,143$ 660,785$ Investment earnings Net Increase (Decrease) in Cash and Cash Equivalents Operating Cash Cash Held with Fiscal Agent Cash and Cash Equivalents, January 1 (1) Operating Cash Cash Held with Fiscal Agent Cash and Cash Equivalents (1) The value of cash & cash equivalents includes cash held in escrow which is restricted for future debt service. Enterprise Fund Projected Activity 46 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,105,380$ 1,133,015$ 1,161,340$ 1,190,374$ 1,220,133$ 1,250,636$ 1,281,902$ 1,313,950$ (882,250) (904,306) (926,914) (950,087) (973,839) (998,185) (1,023,140) (1,048,718) 223,130 228,709 234,426 240,287 246,294 252,451 258,763 265,232 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 (11,887) (12,184) (12,488) (12,801) (13,121) (13,449) (13,785) (14,130) 488,113 487,816 487,512 487,199 486,879 486,551 486,215 485,870 (145,000) (133,000) (119,000) (70,000) (15,000) (27,000) (10,000) (30,000) - - - - - - - - (282,950) (295,250) (302,400) (314,450) (136,350) - - - - - - - - - - - (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (522,425) (522,725) (515,875) (478,925) (245,825) (121,475) (104,475) (124,475) 6,608 8,562 10,586 12,752 15,365 20,393 26,772 33,444 195,427 202,362 216,649 261,314 502,714 637,921 667,275 660,072 660,785 856,212 1,058,574 1,275,223 1,536,537 2,039,251 2,677,171 3,344,446 - - - - - - - - 660,785 856,212 1,058,574 1,275,223 1,536,537 2,039,251 2,677,171 3,344,446 856,212 1,058,574 1,275,223 1,536,537 2,039,251 2,677,171 3,344,446 4,004,518 - - - - - - - - 856,212$ 1,058,574$ 1,275,223$ 1,536,537$ 2,039,251$ 2,677,171$ 3,344,446$ 4,004,518$ Enterprise Fund Projected Activity 47 2021 2022 2023 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Parks & Recreation 2021 GC cash register 5,000$ 5,000$ -$ -$ Parks & Recreation 2021 GC concession equipment 12,000 12,000 - - Parks & Recreation 2021 GC security cameras 25,000 25,000 - - Parks & Recreation 2021 GC door security 15,000 15,000 - - Parks & Recreation 2021 GC clubhouse HVAC 12,500 12,500 - - Parks & Recreation 2021 GC misc equipment 6,000 6,000 - - Parks & Recreation 2021 GC golf carts (3 of 5)8,000 8,000 - - Parks & Recreation 2021 GC tee protector fence 6,000 6,000 - - Parks & Recreation 2022 GC paint maintenance shop 10,000 - 10,000 - Parks & Recreation 2022 GC clubhouse update 20,000 - 20,000 - Parks & Recreation 2022 GC golf carts (4 of 5)8,000 - 8,000 - Parks & Recreation 2022 GC misc equipment 6,000 - 6,000 - Parks & Recreation 2022 GC golf cart parking area 20,000 - 20,000 - Parks & Recreation 2023 GC fireplace updates 20,000 - - 20,000 Parks & Recreation 2023 GC maintenance garage updates (doors and heaters)25,000 - - 25,000 Parks & Recreation 2023 GC golf carts (5 of 5)8,000 - - 8,000 Parks & Recreation 2023 GC fire system 30,000 - - 30,000 Parks & Recreation 2023 GC clubhouse carpet 12,000 - - 12,000 Parks & Recreation 2023 GC misc equipment 6,000 - - 6,000 Parks & Recreation 2023 GC cold storage 50,000 - - 50,000 Parks & Recreation 2024 GC paint clubhouse exterior 10,000 - - - Parks & Recreation 2024 GC golf cart lease (1 of 5)10,000 - - - Parks & Recreation 2024 GC fencing 25,000 - - - Parks & Recreation 2024 GC misc equipment 6,000 - - - Parks & Recreation 2024 GC cart paths 20,000 - - - Parks & Recreation 2025 GC golf cart lease (2 of 5)10,000 - - - Parks & Recreation 2025 GC fencing 25,000 - - - Parks & Recreation 2025 GC gas grills 7,500 - - - Parks & Recreation 2025 GC irrigation pump and motor 20,000 - - - Parks & Recreation 2025 GC misc equipment 6,000 - - - Parks & Recreation 2026 GC golf cart lease (3 of 5)10,000 - - - Parks & Recreation 2026 GC fencing 25,000 - - - Parks & Recreation 2026 GC misc equipment 6,000 - - - Parks & Recreation 2026 GC reader board 60,000 - - - Parks & Recreation 2027 GC golf cart lease (4 of 5)10,000 - - - Parks & Recreation 2027 GC fencing 25,000 - - - Parks & Recreation 2027 GC VFD Irrigation 10,000 - - - Parks & Recreation 2027 GC misc equipment 7,000 - - - Parks & Recreation 2028 GC golf cart lease (5 of 5)10,000 - - - Parks & Recreation 2028 GC misc equipment 7,000 - - - Parks & Recreation 2028 GC fencing 25,000 - - - Parks & Recreation 2028 GC restroom upgrades 30,000 - - - Parks & Recreation 2029 GC golf cart lease (1 of 5)12,000 - - - Parks & Recreation 2029 GC misc equipment 7,000 - - - Parks & Recreation 2030 GC golf cart lease (2 of 5)12,000 - - - Parks & Recreation 2030 GC misc equipment 7,000 - - - Parks & Recreation 2031 GC replace clubhouse carpet 15,000 - - - Parks & Recreation 2031 GC golf cart lease 12,000 - - - Parks & Recreation 2031 GC misc equipment 7,000 - - - 89,500$ 64,000$ 151,000$ Department City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Schedule of Planned Capital Outlay 2021 to 2031 48 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 10,000 - - - - - - - 10,000 - - - - - - - 25,000 - - - - - - - 6,000 - - - - - - - 20,000 - - - - - - - - 10,000 - - - - - - - 25,000 - - - - - - - 7,500 - - - - - - - 20,000 - - - - - - - 6,000 - - - - - - - - 10,000 - - - - - - - 25,000 - - - - - - - 6,000 - - - - - - - 60,000 - - - - - - - - 10,000 - - - - - - - 25,000 - - - - - - - 10,000 - - - - - - - 7,000 - - - - - - - - 10,000 - - - - - - - 7,000 - - - - - - - 25,000 - - - - - - - 30,000 - - - - - - - - 12,000 - - - - - - - 7,000 - - - - - - - - 12,000 - - - - - - - 7,000 - - - - - - - - 15,000 - - - - - - - 12,000 - - - - - - - 7,000 71,000$ 68,500$ 101,000$ 52,000$ 72,000$ 19,000$ 19,000$ 34,000$ 49 City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Statement of Cash Flows 2021 2022 2023 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (modified enterprise assumption of 5% growth)346,260$ 343,573$ 360,752$ Payments to suppliers and employees (modified enterprise assumption of 3% growth)(287,065) (295,677) (304,547) Net Cash Provided (Used) by Operating Activities 59,195 47,896 56,204 Cash Flows from Noncapital Financing Activities Transfers out (administrative charges)(11,038) (11,314) (11,597) Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (89,500) (64,000) (151,000) Net Cash Used by Capital and Related Financing Activities (89,500) (64,000) (151,000) Cash Flows from Investing Activities Investment earnings 2,145 1,753 1,497 Net Increase (Decrease) in Cash and Cash Equivalents (39,198) (25,665) (104,896) Cash and Cash Equivalents, January 1 214,545 175,347 149,683 Cash and Cash Equivalents, December 31 175,347$ 149,683$ 44,787$ Enterprise Fund Projected Activity 50 2024 2025 2026 2027 2028 2029 2030 2031 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 378,789$ 397,729$ 417,615$ 438,496$ 460,421$ 483,442$ 507,614$ 532,994$ (313,684) (323,094) (332,787) (342,771) (353,054) (363,645) (374,555) (385,791) 65,106 74,635 84,828 95,725 107,367 119,796 133,059 147,203 (11,887) (12,184) (12,489) (12,801) (13,121) (13,449) (13,785) (14,130) (71,000) (68,500) (101,000) (52,000) (72,000) (19,000) (19,000) (34,000) (71,000) (68,500) (101,000) (52,000) (72,000) (19,000) (19,000) (34,000) 448 275 217 (68) 241 466 1,344 2,360 (17,334) (5,775) (28,444) 30,857 22,487 87,813 101,618 101,433 44,787 27,453 21,678 (6,766) 24,091 46,578 134,391 236,009 27,453$ 21,678$ (6,766)$ 24,091$ 46,578$ 134,391$ 236,009$ 337,442$ Enterprise Fund Projected Activity 51 Tax Rates Tax Rates: General Fund Operations and All Funds Cash Balances General Fund Balance as a Percent of Revenue:Cash Balance by Planned Use: Tax rates are a function of the levy and total tax base. The city tax rate is computed by dividing the city levy by the taxable tax capacity. Future tax rates are based on the assumption of 3.5% growth in tax capacity (see Assumptions). Comparable communities are provided for reference. The General fund fund balance should be maintained at a level to provide for adequate working capital reserves. The MN State Auditor recommends a 35- 50% reserve. As the expenditure budget grows, the required reserve should increase accordingly. The City can build to this target by adding to contingency each year. This can be accomplished by reducing expenditures and maintaining the same level of revenue or increasing tax levy. The balances represented in this graph are categorized by the planned use and/or limitations determined by statute. $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 Fund Balance Budget Target Fund Balance (42%) General Fund Balance as a Percent of Expenditures 2020 (Actual) 2021-2031 (Estimated) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% City Tax Capacity Rates 2020 (Actual) and 2021-2031 (Estimated) General Proposed capital levies Scheduled debt levies $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 Cash Balance by Planned Use 2020 (Actual) and 2021-2031 (Estimated) General fund Debt service Capital projects Special revenue Enterprise Internal service Agency (pass-through grant) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 2016 2017 2018 2019 2020 2021 Tax Capacity Tax Rate -Comparison Cities 2016 -2021 (Actual) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 52 Property Taxes by Type Debt Debt Balances No additional debt issuance has been modeled in this plan.New Hope debt per is in the middle range to comparable cities ratios. This graph highlights the percent of levy by planned use. Increases in the levy are primarily attributed to the growth in scheduled and proposed debt levies as well as growth in the City's General levy. The overall city tax burden for a $229,000 house in 2020 is shown in the graph on the right. The overall property tax levy for an average valued house is highlighted above. Percent of Property Taxes - General Levy and Bonds Projected City Tax Impact - 2020 $229,000 home $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 Property Taxes -General Levy, EDA, Debt Service and Capital 2020 (Actual) and 2021-2031 (Estimated) General Street Infrastructure Economic Development Authority Park Infrastructure Scheduled debt levies Proposed debt levies Capital levies 1,350 1,400 1,450 1,500 1,550 1,600 1,650 1,700 1,750 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Projected City Tax Impact 2020 (Actual) 2021-2031 (Estimated) $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 Projected Debt Balances Based on Current Amortizations and New Debt Assumed in CIP 2020 (Actual) and 2021-2031 (Estimated) G.O. Tax Increment Debt (Gov't)Other Long-term DebtG.O. Revenue Debt G.O. Tax Increment Debt (Bus)Lease Revenue Bonds G.O. Tax Abatement Debt (Gov't)G.O. Improvement (Gov't)G.O. Improvement (Bus) 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 20 1 3 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 Debt Per Capita - Comparison Cities 2013-2020 (Actual) 2021-2031 (Estimated) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 53