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Long Term Financial Plan 2022-2032 CITY OF NEW HOPE, MINNESOTA LONG-TERM PLAN Presented on November 21, 2022 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 9 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 2022 to 2032 22 Schedule of Projected Revenue, Expenditures and Debt 22 City Hall Reserve Fund 9202 Schedule of Planned Capital Outlay 2022 to 2032 24 Schedule of Projected Revenue, Expenditures and Debt 26 Street Infrastructure Reserve Fund 9203 Schedule of Planned Capital Outlay 2022 to 2032 28 Schedule of Projected Revenue, Expenditures and Debt 28 Parks Infrastructure Reserve Fund 9233 Schedule of Planned Capital Outlay 2022 to 2032 30 Schedule of Projected Revenue, Expenditures and Debt 32 Central Garage Internal Service Fund 9402 Schedule of Planned Capital Outlay 2022 to 2032 34 Statement of Cash Flows 34 Sewer Enterprise Fund 9300 Schedule of Planned Capital Outlay 2022 to 2032 36 Statement of Cash Flows 36 Water Enterprise Fund 9301 Schedule of Planned Capital Outlay 2022 to 2032 38 Statement of Cash Flows 38 Storm Water Enterprise Fund 9304 Schedule of Planned Capital Outlay 2022 to 2032 40 Statement of Cash Flows 40 Street Light Enterprise Fund 9305 Schedule of Planned Capital Outlay 2022 to 2032 42 Statement of Cash Flows 42 Ice Arena Enterprise Fund 9303 Schedule of Planned Capital Outlay 2022 to 2032 44 Statement of Cash Flows 46 Golf Course Enterprise Fund 9302 Schedule of Planned Capital Outlay 2022 to 2032 48 Statement of Cash Flows 50 Information Technology Schedule of Planned Capital Outlay 2022 to 2032 52 Statement of Cash Flows 52 Selected Graphical Data from Projections 54 3 THIS PAGE IS LEFT BLANK INTENTIONALLY 4 November 21, 2022 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, 2032. 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 THIS PAGE IS LEFT BLANK INTENTIONALLY 8 November 21, 2022 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 $500,000 EDA levy growth Varies Tax capacity growth (4)3.50% Population growth 0.58% Median home value growth 1.00% 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 governmental 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. 9 Assumptions with Future Action • Fire Capital Fund 9010 may implement a $100,000 levy in 2024 to build reserves for future capital outlay needs. A comprehensive CIP for this fund was proposed in March 2022. • City Hall Capital Fund 9202 may implement a $100,000 levy in 2024 to build reserves for future building and major capital expenditure needs. A comprehensive CIP for this fund was proposed in March 2022. Other significant assumptions are as follows: • Swimming Pool Capital Fund 9204 may implement a $100,000 levy in 2024 to build reserves for future capital outlay needs. A comprehensive CIP for this fund was 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 2032. 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 2032, other significant assumptions are as follows: 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. The addition of a golf superintendent is built into the budget for 2023 along with the assumption of increased revenue due to the new position. • 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 $705,000 will be allocated to the Street Infrastructure Capital Fund, with the remaining revenue allocated to the General Fund. This is an increase of 265,000 annually for the proposed increase in rates. 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 taking cash flow needs into consideration, with final payment expected to occur in 2026. • Sewer Fund 9300 has planned average annual capital expenses of $659,188 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 $2,500,000 payment from the Joint Water Commission in 2024 will offset project costs related to the repainting of the south water tower. A full-time maintenance position is being budgeted for in 2023. 10 • Street Light Fund 9305 plans to incur costs related to the Boone Signal Replacement in the amount of $500,000 in 2023. 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 includes the value of cash in the Public Works Facility Fund 9240, which incorporates prior year transfers of unspent bond proceeds from the 2017A GO Bonds, and Coronavirus Relief Act funding from the General Fund totaling $2,033,261. • No new debt issuance has been modeled in this long-term plan. Key Highlights • At December 31, 2021, the General fund had a 51.2 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 $19 million (2023 proposed) to $27 million over the duration of this Plan. The levy increase will result in an increase in the projected tax rate, growing from 57 percent (2023 proposed) to 60 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 $1,814 (2023 proposed) to $2,113 over the duration of this Plan. • Total debt outstanding is projected to decrease from $46 million (2021 actual) to $7 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 $2,072 (2021 actual) per household to an estimated $296 over the duration of this Plan. • The total cash position of the City is projected to increase from $47 million (2021 actual) to $75 million over the duration of this Plan. • Contributions from the General Fund for Central Garage are assumed to remain at 100% over the duration of this Plan. • Intergovernmental revenue, tax increment, developer contributions or other outside funding has been identified in the separate capital fund worksheets. 11 THIS PAGE IS LEFT BLANK INTENTIONALLY 12 FINANCIAL SECTION CITY OF NEW HOPE, MINNESOTA LONG TERM PLAN 13 City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates For the Years Ended December 31, 2021 (Actual) and 2022 to 2032 (Estimated) 2021 2022 2023 2024 Actual Actual Estimated Estimated Amounts Amounts Amounts Amounts Property Taxes Levied for General Purposes 9001 General 10,879,465$ 11,393,354$ 12,076,955$ 12,680,803$ 9015 Economic Development Authority 365,000 153,000 160,650 210,650 9015 HRA - 417,000 437,850 417,775 9203 Street Infrastructure 1,540,700 1,617,735 1,698,622 1,783,553 9233 Park Infrastructure (Additional Levy for Ice)500,000 500,000 500,000 500,000 9233 Park Infrastructure 385,655 404,938 425,185 446,444 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 13,670,820 14,486,027 15,299,262 16,339,225 Property Taxes Levied for Debt Service 9144 2015A GO Tax Increment Bonds 237,747 235,227 237,853 235,017 9149 2015B GO Improvement Bonds 206,828 205,240 208,745 206,685 9148 2016A GO Improvement Bonds 260,979 262,502 263,709 259,352 9150 2017A GO Improvement Bonds 1,705,515 1,706,828 1,705,515 1,706,828 9151 2018A GO Tax Abatement Bonds 867,464 862,739 867,464 865,784 9152 2019A GO Tax Abatement Bonds 468,248 472,448 470,768 468,668 Subtotal 3,746,781 3,744,984 3,754,054 3,742,334 Total Taxes Levied 17,417,601 18,231,011 19,053,316 20,081,559 Less: Value of Market Value Levies (365,000) (417,000) (437,850) (417,775) Less: Distribution from fiscal disparities (2,996,822) (3,110,358) (2,815,427) (2,815,427) City Net Levy 14,055,779$ 14,703,653$ 15,800,039$ 16,848,357$ Tax Capacity Personal and Real Estate 27,338,807$ 28,720,529$ 33,191,296$ 34,352,991$ Less: Contribution to fiscal disparities (3,317,874) (3,682,171) (3,670,779) (3,670,779) Less: Tax Increment (1,565,751) (1,634,255) (1,910,032) (1,910,032) Adjusted net tax capacity 22,455,182$ 23,404,103$ 27,610,485$ 28,772,180$ 14 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 13,314,843$ 13,980,585$ 14,679,614$ 15,413,595$ 16,184,275$ 16,993,488$ 17,843,163$ 18,735,321$ 260,650 310,650 360,650 410,650 460,650 510,650 560,650 610,650 399,196 382,189 366,830 353,205 341,397 331,500 323,607 317,820 1,872,730 1,966,367 2,064,685 2,167,920 2,276,316 2,390,131 2,509,638 2,635,120 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 468,766 492,205 516,815 542,656 569,788 598,278 628,192 659,601 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 17,116,186 17,931,996 18,788,595 19,688,025 20,632,426 21,624,048 22,665,250 23,758,512 237,123 237,123 236,860 235,233 238,566 235,049 236,466 - 206,554 206,306 210,467 209,116 206,111 208,198 - - 260,087 260,507 260,612 260,402 259,877 264,287 262,974 261,347 1,707,983 1,709,820 1,708,508 1,710,030 1,710,293 1,710,713 1,708,823 1,709,873 862,634 863,422 862,634 863,317 863,369 862,792 866,834 864,839 471,398 468,248 469,928 470,998 469,980 468,668 467,040 470,348 3,745,779 3,745,426 3,749,009 3,749,096 3,748,196 3,749,707 3,542,137 3,306,408 20,861,965 21,677,422 22,537,604 23,437,121 24,380,622 25,373,755 26,207,387 27,064,920 (399,196) (382,189) (366,830) (353,205) (341,397) (331,500) (323,607) (317,820) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) 17,647,342$ 18,479,806$ 19,355,347$ 20,268,489$ 21,223,798$ 22,226,828$ 23,068,353$ 23,931,673$ 35,555,346$ 36,799,783$ 38,087,776$ 39,420,848$ 40,800,577$ 42,228,598$ 43,706,599$ 45,236,329$ (3,670,779) (3,670,779) (3,670,779) (3,670,779) (3,670,779) (3,670,779) (3,670,779) (3,670,779) (1,910,032) (1,910,032) (1,910,032) (1,910,032) (1,910,032) (1,910,032) (1,910,032) (1,910,032) 29,974,535$ 31,218,972$ 32,506,965$ 33,840,037$ 35,219,766$ 36,647,787$ 38,125,788$ 39,655,519$ 15 City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates (Continued) For the Years Ended December 31, 2021 (Actual) and 2022 to 2032 (Estimated) 2021 2022 2023 2024 Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Tax Rates General 39.94%40.18%37.13%37.76% EDA 0.00%0.86%0.86%1.07% Proposed capital levies 8.91%8.90%8.07%9.02% Scheduled debt levies 13.75%13.21%11.54%11.14% Proposed debt levies 0.00%0.00%0.00%0.00% Total City Levy Tax Rate 62.59%62.83%57.22%58.56% Total HRA Tax Rate 1.34%1.50%1.54%1.33% Population 22,505 22,636 22,767 22,898 Taxes per Capita 774$ 805$ 837$ 877$ Median Home Value (Jan 2)257,000$ 275,000$ 325,000$ 328,250$ Median Home Taxes (from city)1,520 1,649 1,814 1,877 % change from prior year $'s 3%8%10%3% Tax Levy ($) General 10,879,465$ 11,393,354$ 12,076,955$ 12,680,803$ Street Infrastructure 1,540,700 1,617,735 1,698,622 1,783,553 Economic Development Authority 365,000 153,000 160,650 210,650 HRA - 417,000 437,850 417,775 Park Infrastructure 885,655 904,938 925,185 946,444 Capital levies - - - 300,000 Scheduled debt levies 3,746,781 3,744,984 3,754,054 3,742,334 Tax Levy (%) General 62%62%63%63% Street Infrastructure 9%9%9%9% Economic Development Authority 2%1%1%1% HRA 0%2%2%2% Park Infrastructure 5%5%5%5% Capital levies 0%0%0%1% Scheduled debt levies 22%21%20%19% Proposed debt levies 0%0%0%0% General Fund Percentage Change in Levy (%) General Fund Levy Increase/(Decrease)4%5%6%5% All Funds Levy Increase/(Decrease)3%5%5%5% 16 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 38.31%38.86%39.42%39.99%40.57%41.16%41.71%42.27% 1.27%1.46%1.63%1.78%1.92%2.04%2.17%2.28% 9.04%9.06%9.08%9.11%9.14%9.18%9.21%9.24% 10.78%10.41%10.07%9.73%9.40%9.08%8.28%7.46% 0.00%0.00%0.00%0.00%0.00%0.00%0.00%100.00% 58.87%59.19%59.54%59.89%60.26%60.65%60.51%60.35% 1.21%1.11%1.02%0.94%0.87%0.81%0.75%0.71% 23,031 23,164 23,298 23,433 23,568 23,705 23,842 23,980 906$ 936$ 967$ 1,000$ 1,034$ 1,070$ 1,099$ 1,129$ 331,533$ 334,848$ 338,196$ 341,578$ 344,994$ 348,444$ 351,928$ 355,448$ 1,908 1,940 1,973 2,007 2,042 2,078 2,096 2,113 2%2%2%2%2%2%1%1% 13,314,843$ 13,980,585$ 14,679,614$ 15,413,595$ 16,184,275$ 16,993,488$ 17,843,163$ 18,735,321$ 1,872,730 1,966,367 2,064,685 2,167,920 2,276,316 2,390,131 2,509,638 2,635,120 260,650 310,650 360,650 410,650 460,650 510,650 560,650 610,650 399,196 382,189 366,830 353,205 341,397 331,500 323,607 317,820 968,766 992,205 1,016,815 1,042,656 1,069,788 1,098,278 1,128,192 1,159,601 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,745,779 3,745,426 3,749,009 3,749,096 3,748,196 3,749,707 3,542,137 3,306,408 64%64%65%66%66%67%68%69% 9%9%9%9%9%9%10%10% 1%1%2%2%2%2%2%2% 2%2%2%2%1%1%1%1% 5%5%5%4%4%4%4%4% 1%1%1%1%1%1%1%1% 18%17%17%16%15%15%14%12% 0%0%0%0%0%0%0%0% 5%5%5%5%5%5%5%5% 4%4%4%4%4%4%3%3% 17 City of New Hope, Minnesota Schedule of Annual Fund Cash Balances For the Years Ended December 31, 2021 (Actual) and 2022 to 2032 (Estimated) 2021 2022 2023 2024 Actual Estimated Estimated Estimated Amounts Amounts Amounts Amounts GOVERNMENT-TYPE General Operations 101 General 8,578,067$ 8,578,067$ 8,647,254$ 8,792,887$ Special Revenue 9002 Drug Task Force Equitable Sharing Funds 10,494 10,494 10,494 10,494 9015 Economic Development Authority (1)2,187,136 1,674,188 1,578,252 1,505,085 9016 Solid Waste Management 192,733 195,655 198,723 201,945 *9017 Ice Arena Endowment 5,460 5,515 5,570 5,625 *9018 CEE Revolving Loan 67,156 67,828 68,506 69,191 *9021 Police Forfeitures 134,455 135,800 137,158 138,529 Subtotal 2,586,940 2,078,985 1,988,208 1,920,375 Debt Service 9117-9121 HRA Bonds (1)390,185 (39,318) 43,493 124,460 9144 2015A GO Tax Increment Bonds 305,881 336,179 370,145 400,255 9148 2016A GO Bonds 299,349 327,883 356,868 380,915 9149 2015B GO Bonds 201,691 235,120 273,369 308,283 9150 2017A CIP Bonds 1,546,896 1,653,799 1,759,389 1,868,791 9151 2018A GO Tax Abatement Bonds 338,039 386,872 445,430 495,857 9152 2019A GO Tax Abatement Bonds 401,769 433,767 460,384 486,702 Subtotal 3,483,810 3,334,301 3,709,077 4,065,262 Capital Projects 9010 Fire Capital Projects 817,044 825,214 674,873 746,621 9202 City Hall CIP 739,497 600,000 606,000 712,060 9203 Street Infrastructure 2,607,963 2,529,729 1,226,980 1,293,099 9213-9228 HRA Construction (1)5,373,618 4,598,869 5,129,958 5,607,230 9233 Park Infrastructure 1,536,671 1,540,204 317,439 475,748 9234 Park/Pool Improvement Project 605,760 - - - 9242 Temporary Financing 2,862,914 2,295,414 1,652,627 1,826,602 Subtotal 14,543,467 12,389,430 9,607,877 10,661,360 Total - Governmental-type Funds 29,192,284 26,380,783 23,952,416 25,439,884 9402 Central Garage 9,045,897 11,361,806 11,513,262 6,031,785 *9407 Insurance Reserve 561,751 567,369 573,042 578,773 *9408 Employee Leave 1,912,109 1,931,230 1,950,542 1,970,048 *9409 Payroll Clearing - - - - 9410 Information Technology 514,992 690,386 559,234 472,003 Total - Internal Service Funds 12,034,749 14,550,791 14,596,081 9,052,609 BUSINESS-TYPE Enterprise Funds 9300 Sewer 2,070,556 2,456,891 2,933,698 3,225,278 9301 Water 3,154,081 3,201,889 639,866 1,345,577 9302 Golf Course 341,554 317,877 220,151 183,251 9303 Ice Arena (194,063) 387,061 63,660 106,029 9304 Storm Water 1,240,598 1,433,627 1,681,058 1,781,422 9305 Street Lighting 128,962 185,698 (254,227) (195,640) Total - Business-type Funds 6,741,688 7,983,042 5,284,206 6,445,917 Grand Total - City 47,968,721$ 48,914,615$ 43,832,703$ 40,938,409$ *Annual growth in fund balance of 1% assumed (1)Projections based on TIF Cash Flow Analysis updated by AEM in 2022 Trend Indicator Adequate for reserve levels Adequate as of 2021 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 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Trend 9,022,769$ 9,345,287$ 9,769,445$ 10,304,907$ 10,962,038$ 11,751,950$ 12,686,546$ 13,778,576$ 10,494 10,494 10,494 10,494 10,494 10,494 10,494 10,494 1,454,130 1,451,831 1,307,916 1,097,625 960,058 920,872 867,276 789,942 205,327 208,879 212,608 216,524 220,635 224,953 229,486 234,245 5,682 5,739 5,796 5,854 5,912 5,972 6,031 6,092 69,883 70,582 71,287 72,000 72,720 73,448 74,182 74,924 139,914 141,314 142,727 144,154 145,595 147,051 148,522 150,007 1,874,936 1,878,344 1,740,334 1,536,157 1,404,922 1,372,295 1,325,497 1,255,210 201,494 277,314 374,965 482,147 594,206 594,206 594,206 594,206 433,681 466,681 499,471 531,017 566,615 597,668 631,629 428,644 408,154 435,493 462,791 489,909 516,705 548,289 576,248 603,395 344,087 380,196 421,266 459,357 496,024 536,825 368,886 368,886 1,968,174 2,080,470 2,191,202 2,293,357 2,394,925 2,504,087 2,612,060 2,723,982 547,935 604,426 660,128 711,564 762,701 813,512 869,215 919,447 517,949 543,747 574,424 604,872 631,777 658,469 684,934 716,407 4,421,473 4,788,325 5,184,247 5,572,222 5,962,952 6,253,056 6,337,177 6,354,967 808,588 886,673 995,540 1,105,496 1,216,550 1,328,716 1,442,003 1,556,423 819,181 925,372 1,034,626 1,144,972 1,256,422 1,368,986 1,478,676 1,593,463 (118,165) 1,620,018 1,853,617 1,652,818 4,017,032 5,491,074 8,563,164 11,557,600 6,120,454 4,759,947 5,052,842 5,088,131 5,170,616 5,170,616 5,170,616 5,170,616 482,177 752,361 452,720 309,107 625,597 1,097,858 1,180,430 1,130,454 - - - - - - - - 1,999,077 2,170,051 2,264,526 2,359,001 2,453,475 2,547,950 2,642,425 2,736,899 10,111,311 11,114,423 11,653,872 11,659,525 14,739,692 17,005,201 20,477,314 23,745,456 25,430,489 27,126,378 28,347,898 29,072,811 33,069,604 36,382,502 40,826,533 45,134,209 6,274,571 6,591,997 6,988,420 7,268,421 7,734,817 8,163,651 8,618,937 9,475,547 584,560 590,406 596,310 602,273 608,296 614,379 620,523 626,728 1,989,748 2,009,646 2,029,742 2,050,040 2,070,540 2,091,245 2,112,158 2,133,279 - - - - - - - - 483,900 649,555 845,692 1,055,787 1,244,323 1,536,091 1,703,230 2,093,838 9,332,779 9,841,604 10,460,164 10,976,521 11,657,975 12,405,366 13,054,847 14,329,392 3,624,932 4,173,424 4,464,950 4,865,320 5,074,401 5,388,204 5,705,889 6,191,459 511,270 (246,638) 719,630 767,025 1,722,066 2,700,251 1,457,286 2,489,395 101,941 58,521 14,660 (12,809) 168 26,936 77,632 127,551 172,125 173,375 265,274 592,919 1,049,960 1,530,387 1,997,478 2,441,147 2,033,118 2,435,745 2,699,208 2,982,016 3,405,199 3,730,079 3,875,215 4,467,740 (133,411) (67,350) 2,741 77,072 155,860 239,338 327,746 421,339 6,309,975 6,527,076 8,166,463 9,271,542 11,407,654 13,615,195 13,441,246 16,138,631 41,073,244$ 43,495,059$ 46,974,525$ 49,320,875$ 56,135,234$ 62,403,062$ 67,322,626$ 75,602,232$ 19 City of New Hope, Minnesota Outstanding Debt Schedule For the Years Ended December 31, 2021 (Actual) and 2022 to 2032 (Estimated) 2021 2022 2023 Original Issue Maturity Interest Estimated 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 %949,500$ 720,000$ 486,000$ 9118 G.O. Tax Increment Refunding, Series 2012A 10%269,500 1/11/2012 2/1/2025 2.00 - 2.45 105,500 80,000 54,000 9119 G.O. Tax Increment Refunding, Series 2012B 1,330,000 1/11/2012 2/1/2031 1.35 - 4.65 940,000 865,000 780,000 9121 G.O. Tax Increment Finance, Series 2015A 1,859,000 6/17/2015 2/1/2032 2.00 - 3.00 1,419,146 1,303,743 1,186,780 9144 G.O. Tax Increment Finance, Series 2015A 2,536,000 6/17/2015 2/1/2032 2.00 - 3.00 1,936,026 1,778,591 1,619,028 9148 G.O Improvement Bonds, Series 2016A 2,824,075 12/29/2016 2/1/2033 2.25 - 3.00 2,355,820 2,190,040 2,018,443 9149 G.O. Improvement Bonds, Series 2015B 2,075,000 12/1/2015 2/1/2031 0.75 - 2.90 1,486,404 1,353,495 1,217,874 9150 G.O Improvement Bonds, Series 2017A 18,435,000 12/28/2017 2/1/2034 3.00 - 5.00 16,580,000 15,605,000 14,580,000 9151 G.O Tax Abatement Bonds, Series 2018A 9,520,000 12/20/2018 2/1/2035 3.00 - 5.00 9,055,000 8,565,000 8,055,000 9152 G.O Tax Abatement Bonds, Series 2019A 5,235,000 7/18/2019 2/1/2035 3.00 - 4.00 4,970,000 4,695,000 4,405,000 Total Government-type 46,509,075 39,797,395 37,155,868 34,402,126 BUSINESS-TYPE General Obligation Bonds 9300 G.O. Tax Increment Finance, Series 2015A 528,000 6/17/2015 2/1/2032 2.00 - 3.00 403,130 370,348 337,123 9301 G.O. Tax Increment Finance, Series 2015A 504,000 6/17/2015 2/1/2032 2.00 - 3.00 384,930 353,628 321,903 9304 G.O. Tax Increment Finance, Series 2015A 533,000 6/17/2015 2/1/2032 2.00 - 3.00 406,770 373,692 340,167 9300 G.O. Improvement Bonds, Series 2015B 200,000 12/1/2015 2/1/2031 0.75 - 2.90 143,268 130,457 117,386 9301 G.O. Improvement Bonds, Series 2015B 1,200,000 12/1/2015 2/1/2031 0.75 - 2.90 859,608 782,745 704,314 9304 G.O. Improvement Bonds, Series 2015B 350,000 12/1/2015 2/1/2031 0.75 - 2.90 250,719 228,301 205,425 9300 G.O Improvement Bonds, Series 2016A 231,901 12/29/2016 2/1/2033 2.25 - 3.00 193,450 179,836 165,746 9301 G.O Improvement Bonds, Series 2016A 1,072,408 12/29/2016 2/1/2033 2.25 - 3.00 894,594 831,641 766,479 9304 G.O Improvement Bonds, Series 2016A 726,616 12/29/2016 2/1/2033 2.25 - 3.00 606,137 563,482 519,332 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 1,295,000 Total G.O. Bonds 7,365,925 5,942,605 5,369,132 4,772,874 Revenue Bonds 9301 G.O. Public Facilities Authority Note, 2011 411,738 2/23/2011 8/20/2029 1.70 189,000 167,000 144,000 9301 G.O. Public Facilities Authority Note, 2013 1,035,000 7/24/2013 8/20/2032 1.00 634,000 579,000 524,000 9304 G.O. Water Revenue, Series 2010B 605,000 11/23/2010 2/1/2022 2.00 - 3.00 65,000 - - 9301 G.O. Utility Revenue, Series 2010A 775,000 5/6/2010 2/1/2021 2.00 - 3.25 - - - Total G.O. Revenue Bonds 2,826,738 888,000 746,000 668,000 Lease revenue bonds 9303 2011A Taxable Lease Revenue Bonds 3,505,000 12/1/2011 12/1/2028 5.00 - - - Total Business-type 13,697,663 6,830,605 6,115,132 5,440,874 Total All Funds 60,206,738$ 46,628,000$ 43,271,000$ 39,843,000$ Population 22,505 22,636 22,767 Debt Per Capita - total 2,072$ 1,912$ 1,750$ 20 2024 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Balance Balance Balance Balance Balance Balance Balance Balance Balance 247,500$ -$ -$ -$ -$ -$ -$ -$ -$ 27,500 - - - - - - - - 690,000 595,000 500,000 395,000 295,000 195,000 95,000 - - 1,066,699 945,058 820,298 692,419 561,421 427,304 288,508 146,594 - 1,455,211 1,289,266 1,119,066 944,611 765,901 582,936 393,588 199,986 - 1,841,030 1,660,708 1,474,569 1,282,613 1,084,841 881,251 671,845 453,714 229,766 1,076,829 933,070 786,600 637,417 482,809 325,489 165,456 - - 13,505,000 12,375,000 11,210,000 9,985,000 8,700,000 7,375,000 6,010,000 4,590,000 3,115,000 7,515,000 6,955,000 6,370,000 5,755,000 5,110,000 4,445,000 3,760,000 3,055,000 2,325,000 4,105,000 3,795,000 3,470,000 3,135,000 2,785,000 2,420,000 2,045,000 1,660,000 1,265,000 31,529,767 28,548,101 25,750,532 22,827,059 19,784,971 16,651,979 13,429,397 10,105,293 6,934,767 303,012 268,458 233,018 196,692 159,480 121,382 81,955 41,642 - 289,332 256,338 222,498 187,812 152,280 115,902 78,255 39,762 - 305,748 270,882 235,122 198,468 160,920 122,478 82,695 42,018 - 103,791 89,935 75,817 61,438 46,536 31,372 15,948 - - 622,745 539,608 454,902 368,628 279,216 188,236 95,687 - - 181,634 157,386 132,680 107,517 81,438 54,902 27,909 - - 151,177 136,370 121,085 105,322 89,082 72,364 55,169 37,257 18,867 699,109 630,634 559,950 487,057 411,955 334,645 255,125 172,292 87,251 473,684 427,289 379,396 330,008 279,122 226,740 172,861 116,737 59,117 1,025,000 740,000 445,000 135,000 - - - - - 4,155,233 3,516,899 2,859,468 2,177,941 1,660,029 1,268,021 865,603 449,708 165,234 121,000 98,000 74,000 50,000 25,000 - - - - 468,000 412,000 355,000 297,000 239,000 180,000 121,000 61,000 - - - - - - - - - - - - - - - - - - - 589,000 510,000 429,000 347,000 264,000 180,000 121,000 61,000 - - - - - - - - - - 4,744,233 4,026,899 3,288,468 2,524,941 1,924,029 1,448,021 986,603 510,708 165,234 36,274,000$ 32,575,000$ 29,039,000$ 25,352,000$ 21,709,000$ 18,100,000$ 14,416,000$ 10,616,001$ 7,100,001$ 22,898 23,031 23,164 23,298 23,433 23,568 23,705 23,842 23,980 1,584$ 1,414$ 1,254$ 1,088$ 926$ 768$ 608$ 445$ 296$ 21 City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Fire 2023 Fire Aluminum doors (main and back)25,000$ -$ 25,000$ -$ Fire 2024 Fire Automated HVAC 35,000 - - 35,000 Fire 2024 Fire Bay make up air and exhaust - - - - Fire 2024 Fire Fence west, south property line - - - - Fire 2025 Fire Rear parking lot seal coat 7,500 - - - Fire 2025 Fire Tuck pointing west, south walls 28,000 - - - Fire 2025 Fire Water heater replacement 10,000 - - - Fire 2026 Fire West concrete apron / bollards 30,000 - - - Fire 2027 Fire Flat roof (1992)- - - - -$ 25,000$ 35,000$ City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Projected Revenue, Expenditures and Debt 2022 2023 2024 Estimated Estimated Estimated Revenues Property taxes -$ -$ 100,000$ Interest on investments 8,170 8,252 6,749 Miscellaneous - - - Total Revenues 8,170 8,252 106,749 Expenditures Capital outlay Public safety - 25,000 35,000 Total Expenditures - 25,000 35,000 Excess (Deficiency) of Revenues Over (Under) Expenditures 8,170 (16,748) 71,749 Other Financing Sources Transfer in - - - Bond proceeds - - - Sale of Fixed Asset - - - Transfers out - (133,594) - Total Other Financing Sources - (133,594) - Net Change in Fund Balances 8,170 (150,342) 71,749 Fund Balances January 1 817,044 825,214 674,873 Fund Balances, December 31 825,214$ 674,873$ 746,621$ Capital Project Fund Projected Activity 22 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - 7,500 - - - - - - - 28,000 - - - - - - - 10,000 - - - - - - - - 30,000 - - - - - - - - - - - - - - 45,500$ 30,000$ -$ -$ -$ -$ -$ -$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 7,466 8,086 8,867 9,955 11,055 12,166 13,287 14,420 - - - - - - - 107,466 108,086 108,867 109,955 111,055 112,166 113,287 114,420 45,500 30,000 - - - - - - 45,500 30,000 - - - - - - 61,966 78,086 108,867 109,955 111,055 112,166 113,287 114,420 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 61,966 78,086 108,867 109,955 111,055 112,166 113,287 114,420 746,621 808,588 886,673 995,540 1,105,496 1,216,550 1,328,716 1,442,003 808,588$ 886,673$ 995,540$ 1,105,496$ 1,216,550$ 1,328,716$ 1,442,003$ 1,556,423$ 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 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts City Hall 2022 City Hall remaining costs 146,892$ 146,892$ -$ -$ City Hall 2026 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2031 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2033 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2034 Floor (carpet)204,000 - - - City Hall 2034 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2034 Irrigation system 10,000 - - - City Hall 2034 Landscaping/trees/benches 20,000 - - - City Hall 2034 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2036 HVAC (boilers)110,000 - - - City Hall 2039 Parking lot lights 25,000 - - - City Hall 2039 Floor (linoleum)20,000 - - - City Hall 2039 Roof 970,000 - - - City Hall 2040 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2041 HVAC (makeup air units)95,000 - - - City Hall 2041 HVAC (air handlers)130,000 - - - City Hall 2043 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2047 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2049 Floor (carpet)204,000 - - - City Hall 2049 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2049 Irrigation system 10,000 - - - City Hall 2049 Landscaping/trees/benches 20,000 - - - City Hall 2049 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2049 Light fixtures 447,000 - - - City Hall 2049 Garage doors (8 total - 3 are Tytec, 3 are Cornell and 2 are Wayne Dalton brand 214,000 - - - City Hall 2049 Heated sidewalk circuits 5,000 - - - City Hall 2053 HVAC (boilers)110,000 - - - City Hall 2054 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2055 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2059 Floor (tile)58,000 - - - City Hall 2059 Parking lot lights 25,000 - - - City Hall 2059 Floor (linoleum)20,000 - - - City Hall 2059 Roof 970,000 - - - City Hall 2061 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2063 HVAC (makeup air units)95,000 - - - City Hall 2063 HVAC (air handlers)130,000 - - - City Hall 2064 Floor (carpet)204,000 - - - City Hall 2064 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2064 Irrigation system 10,000 - - - City Hall 2064 Landscaping/trees/benches 20,000 - - - City Hall 2064 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2067 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2068 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2070 HVAC (boilers)110,000 - - - City Hall 2075 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2079 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2079 Floor (carpet)204,000 - - - City Hall 2079 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2079 Irrigation system 10,000 - - - City Hall 2079 Landscaping/trees/benches 20,000 - - - City Hall 2079 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2079 Parking lot lights 25,000 - - - City Hall 2079 Floor (linoleum)20,000 - - - City Hall 2079 Roof 970,000 - - - City Hall 2079 Light fixtures 447,000 - - - City Hall 2079 Garage doors (8 total - 3 are Tytec, 3 are Cornell and 2 are Wayne Dalton brand 214,000 - - - City Hall 2079 Heated sidewalk circuits 5,000 - - - City Hall 2082 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2085 HVAC (makeup air units)95,000 - - - City Hall 2085 HVAC (air handlers)130,000 - - - City Hall 2087 HVAC (boilers)110,000 - - - City Hall 2089 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2091 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2094 Floor (terrazzo)118,000 - - - City Hall 2094 Floor (carpet)204,000 - - - City Hall 2094 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2094 Irrigation system 10,000 - - - City Hall 2094 Landscaping/trees/benches 20,000 - - - City Hall 2094 Security system/card readers, monitors, SMART board 100,000 - - - 146,892$ -$ -$ 24 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - 2,000 - - - - - - - - - - - - 4,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -$ 2,000$ -$ -$ -$ -$ 4,000$ -$ 25 City of New Hope, Minnesota Capital Improvement Plan - City Hall Capital Projects Fund 9202 Schedule of Projected Revenue, Expenditures and Debt 2022 2023 2024 Estimated Estimated Estimated Revenues Property taxes -$ -$ 100,000$ Interest on investments 7,395 6,000 6,060 Total Revenues 7,395 6,000 106,060 Expenditures Capital outlay General government 146,892 - - Total Expenditures 146,892 - - Excess (Deficiency) of Revenues Over (Under) Expenditures (139,497) 6,000 106,060 Other Financing Sources Transfers out (remaining bond proceeds to Public Works Facility Fund)- - - Total Other Financing Sources - - - Net Change in Fund Balances (139,497) 6,000 106,060 Fund Balances January 1 739,497 600,000 606,000 Fund Balances, December 31 600,000$ 606,000$ 712,060$ *Transfers in from General Fund surplus in the amount of $100K were made in: 2012, 2013, 2014, 2015, 2016, and 2018 Capital Project Fund Projected Activity 26 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 7,121 8,192 9,254 10,346 11,450 12,564 13,690 14,787 107,121 108,192 109,254 110,346 111,450 112,564 113,690 114,787 - 2,000 - - - - 4,000 - - 2,000 - - - - 4,000 - 107,121 106,192 109,254 110,346 111,450 112,564 109,690 114,787 - - - - - - - - - - - - - - - - 107,121 106,192 109,254 110,346 111,450 112,564 109,690 114,787 712,060 819,181 925,372 1,034,626 1,144,972 1,256,422 1,368,986 1,478,676 819,181$ 925,372$ 1,034,626$ 1,144,972$ 1,256,422$ 1,368,986$ 1,478,676$ 1,593,463$ Capital Project Fund Projected Activity 27 City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 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 and 169 Gettysburg Signal Replacement 300,000 - 300,000 - Public works 2023 SI 2023 Local Projects (Crack, Seal Coat & Fog Seal) 622,277 - 622,277 - Public works 2023 SI 42nd Ave & Boone (Multiple Projects: Trail, Utilities, Boone Ave Signal Replace, Henn Co 42nd Rehab, Bridge) (MSA)958,245 - 958,245 - Public works 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 2,358,391 - 2,358,391 - Public works 2023 SI Noise Wall from Bass Lake Road to 62nd Ave 270,000 - 270,000 - Public works 2024 SI Sidewalk replace 100,000 - - 100,000 Public works 2024 SI 36th Ave. Bridge Replacement (MSA)100,000 - - 100,000 Public works 2024 SI 2024 Local Projects (Crack, Seal Coat & Fog Seal) 564,161 - - 564,161 Public works 2024 SI 2024 Street Infrastructure - 56th, Xylon & Louisiana (MSA)2,260,142 - - 2,260,142 Public works 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 1,691,043 - - 1,691,043 Public works 2025 SI 2025 Local Projects (Crack, Seal Coat & Fog Seal) 179,751 - - - Public works 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 3,644,174 - - - Public works 2025 SI Sidewalk Replacement 100,000 - - - Public works 2026 SI 2026 Local Projects (Crack, Seal Coat & Fog Seal) 500,000 - - - Public works 2026 SI 2026 Street Mill & Overlay 155,502 - - - Public works 2026 SI Sidewalk Replacement 200,000 - - - 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 - - - Public works 2032 SI 2032 Local Projects (Crack, Seal Coat & Fog Seal)431,315 - - - Public works 2032 SI 2032 Street & Infrastructure Improvements - - - - 2,075,269$ 4,608,913$ 4,715,346$ City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Projected Revenue, Expenditures and Debt 2022 2023 2024 Estimated Estimated Estimated Revenues Property taxes (5% increase annually)1,617,735$ 1,698,622$ 1,783,553$ Interest on investments 21,800 25,297 12,270 Franchise fees 440,000 705,000 705,000 Total Revenues 2,079,535 2,428,919 2,500,823 Expenditures Capital outlay Public works 2,075,269 4,608,913 4,715,346 Total Expenditures 2,075,269 4,608,913 4,715,346 Excess (Deficiency) of Revenues Over (Under) Expenditures 4,266 (2,179,994) (2,214,523) Other Financing Sources Intergovernmental revenue (Municipal State Aid - MSA)- 958,245 2,360,142 Interfund loan repayment ($750,000 loan from Temporary Financing Fund issued in 2016)(82,500) (81,000) (79,500) Total Other Financing Sources (82,500) 877,245 2,280,642 Net Change in Fund Balances (78,234) (1,302,749) 66,119 Fund Balances January 1 2,607,963 2,529,729 1,226,980 Fund Balances, December 31 2,529,729$ 1,226,980$ 1,293,099$ Capital Project Fund Projected Activity 28 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 179,751 - - - - - - - 3,644,174 - - - - - - - 100,000 - - - - - - - - 500,000 - - - - - - - 155,502 - - - - - - - 200,000 - - - - - - - - 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 - - - - - - - - 431,315 - - - - - - - - 3,923,925$ 855,502$ 4,084,352$ 3,092,255$ 633,630$ 2,148,190$ 1,440,305$ 431,315$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,872,730$ 1,966,367$ 2,064,685$ 2,167,920$ 2,276,316$ 2,390,131$ 2,509,638$ 2,635,120$ 12,931 (1,182) 16,200 18,536 16,528 40,170 54,911 85,632 705,000 705,000 705,000 705,000 705,000 705,000 705,000 705,000 2,590,661 2,670,185 2,785,886 2,891,456 2,997,844 3,135,302 3,269,549 3,425,751 3,923,925 855,502 4,084,352 3,092,255 633,630 2,148,190 1,440,305 431,315 3,923,925 855,502 4,084,352 3,092,255 633,630 2,148,190 1,440,305 431,315 (1,333,264) 1,814,683 (1,298,466) (200,799) 2,364,214 987,112 1,829,244 2,994,436 - - 1,532,065 - - 486,931 1,242,846 - (78,000) (76,500) - - - - - - (78,000) (76,500) 1,532,065 - - 486,931 1,242,846 - (1,411,264) 1,738,183 233,599 (200,799) 2,364,214 1,474,043 3,072,090 2,994,436 1,293,099 (118,165) 1,620,018 1,853,617 1,652,818 4,017,032 5,491,074 8,563,164 (118,165)$ 1,620,018$ 1,853,617$ 1,652,818$ 4,017,032$ 5,491,074$ 8,563,164$ 11,557,600$ Capital Project Fund Projected Activity 29 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Parks & Recreation 2022 Parks Emerald Ash Borer 100,000$ 100,000$ -$ -$ Parks & Recreation 2022 Parks concrete, trail work 35,000 35,000 - - Parks & Recreation 2022 Parks Hidden Valley Park play equipment project 250,000 250,000 - - Parks & Recreation 2022 Parks lighting improvements 50,000 50,000 - - Parks & Recreation 2022 Parks maintenance (courts, equipment painting, benches and picnic tables)34,000 34,000 - - Parks & Recreation 2023 Parks Emerald Ash Borer 100,000 - 100,000 - Parks & Recreation 2023 Parks Pickleball Improvement at Meadow Lake 135,000 - 135,000 - Parks & Recreation 2023 Parks concrete, trail work 75,000 - 75,000 - Parks & Recreation 2023 Parks Liberty Park play equipment project 200,000 - 200,000 - Parks & Recreation 2023 Parks Lighted Baseball Field 828,000 - 828,000 - Parks & Recreation 2023 Parks lighting improvements 90,000 - 90,000 - Parks & Recreation 2023 Parks maintenance (Liberty Park basketball courts)150,000 - 150,000 - Parks & Recreation 2023 Park Meadow Lake pickleball court improvements 135,000 - 135,000 - Parks & Recreation 2023 Pool misc equipment 5,000 - 5,000 - Parks & Recreation 2024 Parks Cgyms pitching machines 5,000 - - 5,000 Parks & Recreation 2024 Parks Emerald Ash Borer 100,000 - - 100,000 Parks & Recreation 2024 Parks concrete, trail work 60,000 - - 60,000 Parks & Recreation 2024 Parks lighting improvements 50,000 - - 50,000 Parks & Recreation 2024 Parks maintenance (courts, equipment painting, benches and picnic tables)80,000 - - 80,000 Parks & Recreation 2024 Parks outdoor fitness equipment 48,000 - - 48,000 Parks & Recreation 2024 Pool misc equipment 5,000 - - 5,000 Parks & Recreation 2025 Parks Emerald Ash Borer 100,000 - - - Parks & Recreation 2025 Parks concrete, trail work 60,000 - - - Parks & Recreation 2025 Parks hockey rink fencing 13,000 - - - Parks & Recreation 2025 Parks lighting improvements 90,000 - - - Parks & Recreation 2025 Parks maintenance (courts, equipment painting, benches and picnic tables)60,000 - - - Parks & Recreation 2025 Parks picnic shelter at Northwood 200,000 - - - Parks & Recreation 2025 Pool misc equipment 5,000 - - - Parks & Recreation 2026 Parks Emerald Ash Borer 100,000 - - - Parks & Recreation 2026 Parks concrete, trail work 60,000 - - - Parks & Recreation 2026 Parks lighting improvements 90,000 - - - Parks & Recreation 2026 Parks maintenance (courts, equipment painting, benches and picnic tables)35,000 - - - Parks & Recreation 2026 Pool misc equipment 5,000 - - - Parks & Recreation 2027 Parks concrete, trail work 60,000 - - - Parks & Recreation 2027 Parks Elm Grove Park play equipment project 220,000 - - - Parks & Recreation 2027 Parks lighting improvements; retro fit Lighted softball field 255,000 - - - Parks & Recreation 2027 Parks maintenance (courts, equipment painting, benches and picnic tables)145,000 - - - Parks & Recreation 2027 Parks sun shades at Northwood softball fields 184,000 - - - Parks & Recreation 2027 Pool Cabana canvas 18,500 - - - Parks & Recreation 2027 Pool misc equipment 5,000 - - - Parks & Recreation 2027 Pool water walk ropes 2,000 - - - Parks & Recreation 2028 Parks cameras 20,000 - - - Parks & Recreation 2028 Parks concrete, trail work 90,000 - - - Parks & Recreation 2028 Parks Hidden Valley Hockey rink 120,000 - - - Parks & Recreation 2028 Parks Holiday Park play equipment project 270,000 - - - Parks & Recreation 2028 Parks lighting improvements 90,000 - - - Parks & Recreation 2028 Parks maintenance (courts, equipment painting, benches and picnic tables)115,000 - - - Parks & Recreation 2028 Pool cameras 20,000 - - - Parks & Recreation 2028 Pool diving boards 13,300 - - - Parks & Recreation 2028 Pool loungers/chairs 13,500 - - - Parks & Recreation 2028 Pool misc equipment 7,000 - - - Parks & Recreation 2029 Parks concrete, trail work 120,000 - - - Parks & Recreation 2029 Parks maintenance (courts, equipment painting, benches and picnic tables)145,000 - - - Parks & Recreation 2029 Pool filter baskets 7,000 - - - Parks & Recreation 2029 Pool filters 48,000 - - - Parks & Recreation 2029 Pool misc equipment 7,000 - - - Parks & Recreation 2030 Parks concrete, trail work 100,000 - - - Parks & Recreation 2030 Parks maintenance (courts, equipment painting, benches and picnic tables)75,000 - - - Parks & Recreation 2030 Pool chemical controllers 18,000 - - - Parks & Recreation 2030 Pool chemical feeders 8,000 - - - Parks & Recreation 2030 Pool misc equipment 7,000 - - - Parks & Recreation 2031 Parks concrete, trail work 50,000 - - - Parks & Recreation 2031 Parks lighting improvements 75,000 - - - Parks & Recreation 2031 Parks maintenance (courts, equipment painting, benches and picnic tables)90,000 - - - Parks & Recreation 2031 Parks Lion's Park playground project 300,000 - - - Parks & Recreation 2031 Pool heaters 72,000 - - - Parks & Recreation 2031 Pool main drain grates 19,200 - - - Parks & Recreation 2031 Pool misc equipment 7,000 - - - Parks & Recreation 2031 Pool pump motors (filter)22,000 - - - Parks & Recreation 2032 Parks Civic Center Park playground project 300,000 - - - Parks & Recreation 2032 Parks concrete, trail work 100,000 - - - Parks & Recreation 2032 Parks maintenance 105,000 - - - Parks & Recreation 2032 Parks shelter roofs 180,000 - - - Parks & Recreation 2032 Pool slides (paint)50,000 - - - Parks & Recreation 2032 Pool replace tile, skim line and lanes lines 30,000 - - - Parks & Recreation 2032 Pool pump motors - 50m 30,000 - - - Parks & Recreation 2032 Pool misc 8,000 - - - 469,000$ 1,718,000$ 348,000$ 30 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 100,000 - - - - - 60,000 - - - - - - - 13,000 - - - - - - - 90,000 - - - - - - - 60,000 - - - - - - - 200,000 - - - - - - - 5,000 - - - - - - - - 100,000 - - - - - - - 60,000 - - - - - - - 90,000 - - - - - - - 35,000 - - - - - - - 5,000 - - - - - - - - 60,000 - - - - - - - 220,000 - - - - - - - 255,000 - - - - - - - 145,000 - - - - - - - 184,000 - - - - - - - 18,500 - - - - - - - 5,000 - - - - - - - 2,000 - - - - - - - - 20,000 - - - - - - - 90,000 - - - - - - - 120,000 - - - - - - - 270,000 - - - - - - - 90,000 - - - - - - - 115,000 - - - - - - - 20,000 - - - - - - - 13,300 - - - - - - - 13,500 - - - - - - - 7,000 - - - - - - - - 120,000 - - - - - - - 145,000 - - - - - - - 7,000 - - - - - - - 48,000 - - - - - - - 7,000 - - - - - - - - 100,000 - - - - - - - 75,000 - - - - - - - 18,000 - - - - - - - 8,000 - - - - - - - 7,000 - - - - - - - - 50,000 - - - - - - - 75,000 - - - - - - - 90,000 - - - - - - - 300,000 - - - - - - - 72,000 - - - - - - - 19,200 - - - - - - - 7,000 - - - - - - - 22,000 - - - - - - - - 300,000 - - - - - - - 100,000 - - - - - - - 105,000 - - - - - - - 180,000 - - - - - - - 50,000 - - - - - - - 30,000 - - - - - - - 30,000 - - - - - - - 8,000 528,000$ 290,000$ 889,500$ 758,800$ 327,000$ 208,000$ 635,200$ 803,000$ 31 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Projected Revenue, Expenditures and Debt 2022 2023 2024 Estimated Estimated Estimated Amounts Amounts Amounts Revenues Property taxes (5% increase annually)404,938$ 425,185$ 446,444$ Additional property tax levy for Ice 500,000 500,000 500,000 Grant revenues - - - Interest on investments 14,893 15,402 3,174 Miscellaneous (Leases - cell and radio towers; developer revenue)52,702 54,648 56,691 Total Revenues 972,533 995,235 1,006,310 Expenditures Capital outlay Parks & Recreation 469,000 1,718,000 348,000 Total Expenditures 469,000 1,718,000 348,000 Excess (Deficiency) of Revenues Over (Under) Expenditures 503,533 (722,765) 658,310 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 3,533 (1,222,765) 158,310 Fund Balances January 1 1,536,671 1,540,204 317,439 Fund Balances, December 31 1,540,204$ 317,439$ 475,748$ Capital Project Fund Projected Activity 32 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 468,766$ 492,205$ 516,815$ 542,656$ 569,788$ 598,278$ 628,192$ 659,601$ 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 - - - - - - - - 4,757 4,822 7,524 4,527 3,091 6,256 10,979 11,804 60,905 63,157 65,521 68,004 70,610 75,728 78,601 81,619 1,034,429 1,060,183 1,089,860 1,115,187 1,143,490 1,180,262 1,217,771 1,253,025 528,000 290,000 889,500 758,800 327,000 208,000 635,200 803,000 528,000 290,000 889,500 758,800 327,000 208,000 635,200 803,000 506,429 770,183 200,360 356,387 816,490 972,262 582,571 450,025 - - - - - - - - (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) 6,429 270,183 (299,640) (143,613) 316,490 472,262 82,571 (49,975) 475,748 482,177 752,361 452,720 309,107 625,597 1,097,858 1,180,430 482,177$ 752,361$ 452,720$ 309,107$ 625,597$ 1,097,858$ 1,180,430$ 1,130,454$ Capital Project Fund Projected Activity 33 City of New Hope, Minnesota Capital Improvement Plan - Central Garage Fund 9402 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts 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 - - 5,767,592 Public Works 2024 CG Equipment - Central Garage Master Asset List 1,204,489 - - 1,204,489 Public Works 2025 CG Equipment - Central Garage Master Asset List 1,261,777 - - - Public Works 2026 CG Equipment - Central Garage Master Asset List 1,261,777 - - - Public Works 2027 CG Equipment - Central Garage Master Asset List 1,261,777 - - - Public Works 2028 CG Paint inside PW 200,000 - - - Public Works 2028 CG Equipment - Central Garage Master Asset List 1,261,777 - - - Public Works 2029 CG Equipment - Central Garage Master Asset List 1,261,777 - - - Public Works 2029 CG Seal Coat and Fog parking lot 100,000 - - - Public Works 2030 CG Equipment - Central Garage Master Asset List 1,261,777 - - - 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 1,261,777 - - - Public Works 2031 CG Paint inside PW, New Door, Security Camera Upgrades 300,000 - - - Public Works 2032 CG Equipment - Central Garage Master Asset List 1,261,777 - - - 1,306,907$ 1,272,135$ 6,972,081$ (1)Equipment replacement for years 2025-2032 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 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from interfund services provided (5% growth annually)2,373,673$ 2,492,357$ 2,616,974$ Payments to suppliers and employees (5% growth annually)(1,126,080) (1,182,384) (1,241,503) Net Cash Provided (Used) by Operating Activities 1,247,593 1,309,973 1,375,471 Cash Flows from Capital and Related Financing Activities Transfer of grant revenues and unspent bond proceeds 1,142,382 - - Acquisition of capital assets (1,306,907) (1,272,135) (6,972,081) Intergovernmental 1,142,382 - - Net Cash Used by Capital and Related Financing Activities 977,857 (1,272,135) (6,972,081) Cash Flows from Investing Activities Investment earnings 90,459 113,618 115,133 Net Increase (Decrease) in Cash and Cash Equivalents 2,315,909 151,456 (5,481,477) Cash and Cash Equivalents, January 1 9,045,897 11,361,806 11,513,262 Cash and Cash Equivalents, December 31 11,361,806$ 11,513,262$ 6,031,785$ Department Enterprise Fund Projected Activity 34 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - 1,261,777 - - - - - - - - 1,261,777 - - - - - - - - 1,261,777 - - - - - - - - 200,000 - - - - - - - 1,261,777 - - - - - - - - 1,261,777 - - - - - - - 100,000 - - - - - - - - 1,261,777 - - - - - - - 200,000 - - - - - - - 30,000 - - - - - - - - 1,261,777 - - - - - - - 300,000 - - - - - - - - 1,261,777 1,261,777$ 1,261,777$ 1,261,777$ 1,461,777$ 1,361,777$ 1,491,777$ 1,561,777$ 1,261,777$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 2,747,823$ 2,885,214$ 3,029,475$ 3,180,949$ 3,339,996$ 3,506,996$ 3,682,346$ 3,866,463$ (1,303,578) (1,368,757) (1,437,195) (1,509,055) (1,584,508) (1,663,733) (1,746,920) (1,834,266) 1,444,245 1,516,457 1,592,280 1,671,894 1,755,489 1,843,263 1,935,426 2,032,198 - - - - - - - - (1,261,777) (1,261,777) (1,261,777) (1,461,777) (1,361,777) (1,491,777) (1,561,777) (1,261,777) - - - - - - - - (1,261,777) (1,261,777) (1,261,777) (1,461,777) (1,361,777) (1,491,777) (1,561,777) (1,261,777) 60,318 62,746 65,920 69,884 72,684 77,348 81,637 86,189 242,786 317,426 396,423 280,001 466,396 428,834 455,286 856,610 6,031,785 6,274,571 6,591,997 6,988,420 7,268,421 7,734,817 8,163,651 8,618,937 6,274,571$ 6,591,997$ 6,988,420$ 7,268,421$ 7,734,817$ 8,163,651$ 8,618,937$ 9,475,547$ Enterprise Fund Projected Activity 35 City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 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 and Other Streets 110,700 - - 110,700 Sewer 2024 SS 2024 Line sewer pipes 450,000 - - 450,000 Sewer 2024 SS 2024 Rebuild lift station pipes and pump 150,000 - - 150,000 Sewer 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 166,100 - - - Sewer 2025 SS 2025 Line sewer pipes 450,000 - - - Sewer 2026 SI 2026 Infrastructure Improvements - Northwoods South 30,000 - - - 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 - - - Sewer 2032 SS 2032 Line sewer pipes 600,000 - - - 584,268$ 510,000$ 710,700$ City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)3,935,743$ 4,093,173$ 4,256,900$ Payments to suppliers and employees (5% growth assumption)(2,907,402) (3,052,772) (3,205,411) Net Cash Provided (Used) by Operating Activities 1,028,341 1,040,401 1,051,489 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (584,268) (510,000) (710,700) Existing principal and interest paid on long-term debt (78,444) (78,162) (78,546) Net Cash Provided (Used) by Capital and Related Financing Activities (662,712) (588,162) (789,246) Cash Flows from Investing Activities Investment earnings 20,706 24,569 29,337 Net Increase (Decrease) in Cash and Cash Equivalents 386,335 476,808 291,580 Cash and Cash Equivalents, January 1 2,070,556 2,456,891 2,933,698 Cash and Cash Equivalents, December 31 2,456,891$ 2,933,698$ 3,225,278$ Enterprise Fund Projected Activity 36 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 166,100 - - - - - - - 450,000 - - - - - - - - 30,000 - - - - - - - 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 - - - - - - - - 600,000 616,100$ 480,000$ 750,000$ 650,000$ 850,000$ 750,000$ 750,000$ 600,000$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 4,427,176$ 4,604,263$ 4,788,433$ 4,979,970$ 5,179,169$ 5,386,336$ 5,601,790$ 5,825,861$ (3,365,681) (3,533,965) (3,710,664) (3,896,197) (4,091,007) (4,295,557) (4,510,335) (4,735,851) 1,061,494 1,070,297 1,077,770 1,083,774 1,088,163 1,090,779 1,091,455 1,090,010 (616,100) (480,000) (750,000) (650,000) (850,000) (750,000) (750,000) (600,000) (77,993) (78,055) (77,978) (78,053) (77,735) (77,720) (77,652) (61,498) (694,093) (558,055) (827,978) (728,053) (927,735) (827,720) (827,652) (661,498) 32,253 36,249 41,734 44,649 48,653 50,744 53,882 57,059 399,654 548,492 291,526 400,370 209,081 313,803 317,685 485,570 3,225,278 3,624,932 4,173,424 4,464,950 4,865,320 5,074,401 5,388,204 5,705,889 3,624,932$ 4,173,424$ 4,464,950$ 4,865,320$ 5,074,401$ 5,388,204$ 5,705,889$ 6,191,459$ Enterprise Fund Projected Activity 37 City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 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 2,436,621 - 2,436,621 - Water 2023 WA 42nd to Xylon (Rehab)1,173,400 - 1,173,400 - Water 2024 WA JWC - Repaint South Water Tower 2,500,000 - - 2,500,000 Water 2024 WA Sensus Water Meters - 2024 16,055 - - 16,055 Water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 319,000 - - 319,000 Water 2025 WA Sensus Water Meters - 2025 16,536 - - - Water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 120,000 - - - Water 2025 WA Water meter replacement to AMI 1,750,000 - - - Water 2026 WA Water meter replacement to AMI 1,750,000 - - - Water 2026 SI 2026 Infrastructure Improvements - Northwoods South 50,000 - - - 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 - - - Water 2032 SI 2032 Street & Infrastructure Improvements 70,000 - - - 1,103,546$ 3,625,608$ 2,835,055$ City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)6,086,814$ 6,330,287$ 6,583,498$ Payments to suppliers and employees (5% growth assumption)(4,651,491) (4,983,815) (5,233,006) Net Cash Provided (Used) by Operating Activities 1,435,324 1,346,472 1,350,492 Cash Flows From Capital and Related Financing Activities Acquisition of capital assets (1,103,546) (3,625,608) (2,835,055) Intergovernmental (Joint Water Commission)- - 2,500,000 Existing principal and interest paid on long-term debt (315,511) (314,905) (316,125) Net Cash Used by Capital and Related Financing Activities (1,419,057) (3,940,513) (651,180) Cash Flows from Investing Activities Investment earnings 31,541 32,019 6,399 Net Increase (Decrease) in Cash and Cash Equivalents 47,808 (2,562,022) 705,711 Cash and Cash Equivalents, January 1 3,154,081 3,201,889 639,866 Cash and Cash Equivalents, December 31 3,201,889$ 639,866$ 1,345,577$ Enterprise Fund Projected Activity 38 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16,536 - - - - - - - 120,000 - - - - - - - 1,750,000 - - - - - - - - 1,750,000 - - - - - - - 50,000 - - - - - - - - 65,000 - - - - - - - - 70,000 - - - - - - - 916,000 - - - - - - - - 70,000 - - - - - - - - 70,000 - - - - - - - - 2,282,198 - - - - - - - - 70,000 1,886,536$ 1,800,000$ 65,000$ 986,000$ 70,000$ 70,000$ 2,282,198$ 70,000$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 6,846,838$ 7,120,712$ 7,405,540$ 7,701,762$ 8,009,832$ 8,330,226$ 8,663,435$ 9,009,972$ (5,494,656) (5,769,389) (6,057,858) (6,360,751) (6,678,789) (7,012,728) (7,363,365) (7,731,533) 1,352,182 1,351,323 1,347,682 1,341,011 1,331,043 1,317,497 1,300,070 1,278,439 (1,886,536) (1,800,000) (65,000) (986,000) (70,000) (70,000) (2,282,198) (70,000) - - - - - - - - (313,409) (314,344) (313,947) (314,812) (313,673) (286,533) (287,839) (190,903) (2,199,945) (2,114,344) (378,947) (1,300,812) (383,673) (356,533) (2,570,037) (260,903) 13,456 5,113 (2,466) 7,196 7,670 17,221 27,003 14,573 (834,307) (757,908) 966,268 47,395 955,041 978,185 (1,242,965) 1,032,109 1,345,577 511,270 (246,638) 719,630 767,025 1,722,066 2,700,251 1,457,286 511,270$ (246,638)$ 719,630$ 767,025$ 1,722,066$ 2,700,251$ 1,457,286$ 2,489,395$ Enterprise Fund Projected Activity 39 City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 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 - 100,000 - Storm water 2023 SW Required TMDL projects 100,000 - 100,000 - Storm water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 305,000 - - 305,000 Storm water 2024 SW Required TMDL projects 100,000 - - 100,000 Storm water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 172,000 - - - Storm water 2025 SW Required TMDL projects 100,000 - - - Storm water 2026 SI 2026 Infrastructure Improvements - Northwoods South 40,000 - - - 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 - - - Storm water 2032 SW Required TMDL projects 100,000 - - - 210,457$ 240,000$ 405,000$ City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)1,367,044$ 1,421,726$ 1,478,595$ Payments to suppliers and employees (5% growth assumption)(777,754) (816,642) (857,474) Net Cash Provided (Used) by Operating Activities 589,290 605,084 621,121 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (210,457) (240,000) (405,000) Intergovernmental revenue (Meadow Lake Draw Down)- - - Existing principal and interest paid on long-term debt (198,210) (131,989) (132,568) Net Cash Used by Capital and Related Financing Activities (408,667) (371,989) (537,568) Cash Flows From Investing Activities Investment earnings 12,406 14,336 16,811 Net Increase (Decrease) in Cash and Cash Equivalents 193,029 247,431 100,364 Cash and Cash Equivalents, January 1 1,240,598 1,433,627 1,681,058 Cash and Cash Equivalents, December 31 1,433,627$ 1,681,058$ 1,781,422$ Enterprise Fund Projected Activity 40 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 172,000 - - - - - - - 100,000 - - - - - - - - 40,000 - - - - - - - 100,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 100,000 - - - - - - - 80,000 - - - - - - - - 100,000 - - - - - - - 200,000 - - - - - - - - 400,000 - - - - - - - 100,000 - - - - - - - - 100,000 272,000$ 140,000$ 300,000$ 300,000$ 180,000$ 300,000$ 500,000$ 100,000$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,537,739$ 1,599,248$ 1,663,218$ 1,729,747$ 1,798,937$ 1,870,894$ 1,945,730$ 2,023,559$ (900,347) (945,365) (992,633) (1,042,265) (1,094,378) (1,149,097) (1,206,552) (1,266,879) 637,391 653,883 670,585 687,482 704,559 721,797 739,178 756,680 (272,000) (140,000) (300,000) (300,000) (180,000) (300,000) (500,000) (100,000) - - - - - - - - (131,509) (131,588) (131,479) (131,666) (131,196) (130,969) (131,343) (102,907) (403,509) (271,588) (431,479) (431,666) (311,196) (430,969) (631,343) (202,907) 17,814 20,331 24,357 26,992 29,820 34,052 37,301 38,752 251,696 402,626 263,463 282,808 423,183 324,880 145,136 592,525 1,781,422 2,033,118 2,435,745 2,699,208 2,982,016 3,405,199 3,730,079 3,875,215 2,033,118$ 2,435,745$ 2,699,208$ 2,982,016$ 3,405,199$ 3,730,079$ 3,875,215$ 4,467,740$ Enterprise Fund Projected Activity 41 City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts 2023 SI 42nd Ave & Boone (Multiple Project: Monument Sign and Lighting)500,000$ -$ 500,000$ -$ -$ 500,000$ -$ City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (5% growth assumption)180,398$ 189,418$ 198,889$ Payments to suppliers and employees (5% growth assumption)(124,952) (131,200) (137,760) Net Cash Provided (Used) by Operating Activities 55,446 58,218 61,129 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets - (500,000) - Cash Flows From Investing Activities Investment Earnings 1,290 1,857 (2,542) Net Increase (Decrease) in Cash and Cash Equivalents 56,736 (439,925) 58,587 Cash and Cash Equivalents, January 1 128,962 185,698 (254,227) Cash and Cash Equivalents, December 31 185,698$ (254,227)$ (195,640)$ Enterprise Fund Projected Activity 42 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 208,833$ 219,275$ 230,239$ 241,751$ 253,838$ 266,530$ 279,857$ 293,849$ (144,648) (151,880) (159,474) (167,448) (175,820) (184,611) (193,842) (203,534) 64,186 67,395 70,765 74,303 78,018 81,919 86,015 90,316 - - - - - - - - (1,956) (1,334) (674) 27 771 1,559 2,393 3,277 62,229 66,061 70,091 74,330 78,789 83,478 88,408 93,593 (195,640) (133,411) (67,350) 2,741 77,072 155,860 239,338 327,746 (133,411)$ (67,350)$ 2,741$ 77,072$ 155,860$ 239,338$ 327,746$ 421,339$ Enterprise Fund Projected Activity 43 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Schedule of Planned Capital Outlay 2022 to 2032 2022 2023 2024 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Ice Arena 2022 IA door security and security cameras 60,000$ 60,000$ -$ -$ Ice Arena 2022 IA HVAC upgrades 50,000 50,000 - - Ice Arena 2022 IA replace dasher boards and glass (north rink)210,000 210,000 - - Ice Arena 2022 IA scoreboard (south rink)25,000 25,000 - - Ice Arena 2022 IA weight room upgrades 20,000 20,000 - - Ice Arena 2023 IA compressors 26,500 - 26,500 - Ice Arena 2023 IA concession stand 36,000 - 36,000 - Ice Arena 2023 IA meeting room carpet 9,600 - 9,600 - Ice Arena 2023 IA re-cement floor and replace glass and boards (south rink) 1,200,000 - 1,200,000 - Ice Arena 2023 IA skate tile 18,000 - 18,000 - Ice Arena 2023 IA water heaters 48,000 - 48,000 - Ice Arena 2024 IA bathrooms 50,000 - - 50,000 Ice Arena 2024 IA bleacher caps (south rink)25,000 - - 25,000 Ice Arena 2024 IA HVAC (south rink)50,000 - - 50,000 Ice Arena 2024 IA Zamboni room garage doors 20,000 - - 20,000 Ice Arena 2025 IA bleacher caps (north rink)33,000 - - - Ice Arena 2025 IA HVAC (south rink)50,000 - - - Ice Arena 2025 IA skate tile for locker rooms 20,000 - - - Ice Arena 2025 IA system relief valves 8,000 - - - Ice Arena 2026 IA community room tile 22,000 - - - Ice Arena 2026 IA compressors 24,000 - - - Ice Arena 2026 IA HVAC 75,000 - - - Ice Arena 2026 IA radiant heaters (north rink)30,000 - - - Ice Arena 2026 IA shower 20,000 - - - Ice Arena 2027 IA bathrooms (lower level public)30,000 - - - Ice Arena 2027 IA overhead doors 25,000 - - - Ice Arena 2027 IA water heater for showers 15,000 - - - Ice Arena 2028 IA protective netting 15,000 - - - Ice Arena 2029 IA compressors 27,000 - - - Ice Arena 2030 IA system relief valves 10,000 - - - Ice Arena 2031 IA water heaters 30,000 - - - Ice Arena 2032 IA cameras 30,000 - - - Ice Arena 2032 IA compressors 30,000 - - - 365,000$ 1,338,100$ 145,000$ Department 44 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 33,000 - - - - - - - 50,000 - - - - - - - 20,000 - - - - - - - 8,000 - - - - - - - - 22,000 - - - - - - - 24,000 - - - - - - - 75,000 - - - - - - - 30,000 - - - - - - - 20,000 - - - - - - - - 30,000 - - - - - - - 25,000 - - - - - - - 15,000 - - - - - - - - 15,000 - - - - - - - - 27,000 - - - - - - - - 10,000 - - - - - - - - 30,000 - - - - - - - - 30,000 - - - - - - - 30,000 111,000$ 171,000$ 70,000$ 15,000$ 27,000$ 10,000$ 30,000$ 60,000$ 45 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (enterprise assumption of 2.5% growth)962,117$ 986,170$ 1,010,824$ Payments to suppliers and employees (enterprise modified assumption of 2.5% growth)(889,738) (911,981) (934,781) Net Cash Provided (Used) by Operating Activities 72,379 74,188 76,043 Cash Flows from Noncapital Financing Activities Transfers in (levy, Park Infrastructure Fund)500,000 500,000 500,000 Transfers out (administrative charges)(11,314) (11,597) (11,887) Net Cash Provided (Used) by Noncapital Financing Activities 488,686 488,403 488,113 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (365,000) (1,338,100) (145,000) Proceeds from bonds and notes issued or interfund loan 650,000 767,120 - Existing Principal and interest paid on long-term debt (263,000) (275,550) (282,950) Payment for refunding of bonds - - - Interfund loan payments (from Temp Financing for 2021-2023 improvements)- (43,333) (94,475) Net Cash Used by Capital and Related Financing Activities 22,000 (889,863) (522,425) Cash Flows from Investing Activities Investment earnings (1,941) 3,871 637 Net Increase (Decrease) in Cash and Cash Equivalents 581,124 (323,401) 42,368 Cash and Cash Equivalents, January 1 (194,063) 387,061 63,660 Cash and Cash Equivalents, December 31 387,061$ 63,660$ 106,029$ Enterprise Fund Projected Activity 46 Enterprise Fund Projected Activity 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,036,095$ 1,061,997$ 1,088,547$ 1,115,761$ 1,143,655$ 1,172,246$ 1,201,552$ 1,231,591$ (958,151) (982,104) (1,006,657) (1,031,823) (1,057,619) (1,084,059) (1,111,161) (1,138,940) 77,944 79,893 81,890 83,937 86,036 88,187 90,391 92,651 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 (12,184) (12,489) (12,801) (13,121) (13,449) (13,785) (14,130) (14,483) 487,816 487,511 487,199 486,879 486,551 486,215 485,870 485,517 (111,000) (171,000) (70,000) (15,000) (27,000) (10,000) (30,000) (60,000) - - - - - - - - (295,250) (302,400) (314,450) (136,350) - - - - - - - - - - - - (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (94,475) (500,725) (567,875) (478,925) (245,825) (121,475) (104,475) (124,475) (154,475) 1,060 1,721 1,734 2,653 5,929 10,500 15,304 19,975 66,096 1,251 91,899 327,645 457,042 480,427 467,091 443,668 106,029 172,125 173,375 265,274 592,919 1,049,960 1,530,387 1,997,478 172,125$ 173,375$ 265,274$ 592,919$ 1,049,960$ 1,530,387$ 1,997,478$ 2,441,147$ 47 2022 2023 2024 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Parks & Recreation 2022 GC cash register 5,000$ 5,000$ -$ -$ Parks & Recreation 2022 GC clubhouse update 20,000 20,000 - - Parks & Recreation 2022 GC door security and security cameras 40,000 40,000 - - 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 tee protector fence 6,000 6,000 - - Parks & Recreation 2023 GC fireplace 24,000 - 24,000 - Parks & Recreation 2023 GC golf carts (5 of 5)8,000 - 8,000 - Parks & Recreation 2023 GC maintenance garage updates (doors and heaters)30,000 - 30,000 - Parks & Recreation 2023 GC maintenance shop-paint 12,000 - 12,000 - Parks & Recreation 2023 GC misc equipment 6,000 - 6,000 - Parks & Recreation 2024 GC cart paths paved 20,000 - - 20,000 Parks & Recreation 2024 GC clubhouse exterior 10,000 - - 10,000 Parks & Recreation 2024 GC golf cart lease (1 of 5)10,000 - - 10,000 Parks & Recreation 2024 GC misc equipment 6,000 - - 6,000 Parks & Recreation 2025 GC clubhouse carpet 15,000 - - - Parks & Recreation 2025 GC fire system 36,000 - - - Parks & Recreation 2025 GC gas grills 7,500 - - - Parks & Recreation 2025 GC golf cart lease (2 of 5)10,000 - - - Parks & Recreation 2025 GC misc equipment 6,000 - - - Parks & Recreation 2025 GC cart paths paved 25,000 - - - Parks & Recreation 2026 GC cart paths paved 30,000 - - - Parks & Recreation 2026 GC fencing 25,000 - - - Parks & Recreation 2026 GC golf cart lease (3 of 5)10,000 - - - Parks & Recreation 2026 GC misc equipment 6,000 - - - Parks & Recreation 2027 GC fencing 30,000 - - - Parks & Recreation 2027 GC golf cart lease (4 of 5)10,000 - - - Parks & Recreation 2027 GC irrigation pump and motor 25,000 - - - Parks & Recreation 2027 GC misc equipment 7,000 - - - Parks & Recreation 2027 GC VFD Irrigation 10,000 - - - Parks & Recreation 2028 GC fencing 30,000 - - - 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 30,000 - - - Parks & Recreation 2029 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 Fencing 30,000 - - - Parks & Recreation 2030 GC golf cart lease (2 of 5)12,000 - - - Parks & Recreation 2030 GC misc equipment 7,000 - - - Parks & Recreation 2031 GC clubhouse tables and chairs 20,000 - - - Parks & Recreation 2031 GC golf cart lease (3 of 5)12,000 - - - Parks & Recreation 2031 GC misc equipment 8,000 - - - Parks & Recreation 2032 GC cameras 20,000 - - - Parks & Recreation 2032 GC clubhouse carpet 17,000 - - - Parks & Recreation 2032 GC golf cart lease (4 of 5)12,000 - - - Parks & Recreation 2032 GC misc equipment 8,000 - - - 85,000$ 80,000$ 46,000$ Department City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Schedule of Planned Capital Outlay 2022 to 2032 48 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 15,000 - - - - - - - 36,000 - - - - - - - 7,500 - - - - - - - 10,000 - - - - - - - 6,000 - - - - - - - 25,000 - - - - - - - - 30,000 - - - - - - - 25,000 - - - - - - - 10,000 - - - - - - - 6,000 - - - - - - - - 30,000 - - - - - - - 10,000 - - - - - - - 25,000 - - - - - - - 7,000 - - - - - - - 10,000 - - - - - - - - 30,000 - - - - - - - 10,000 - - - - - - - 7,000 - - - - - - - 30,000 - - - - - - - - 30,000 - - - - - - - 12,000 - - - - - - - 7,000 - - - - - - - - 30,000 - - - - - - - 12,000 - - - - - - - 7,000 - - - - - - - - 20,000 - - - - - - - 12,000 - - - - - - - 8,000 - - - - - - - - 20,000 - - - - - - - 17,000 - - - - - - - 12,000 - - - - - - - 8,000 99,500$ 71,000$ 82,000$ 77,000$ 49,000$ 49,000$ 40,000$ 57,000$ 49 City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (modified enterprise assumption of 5% growth)398,721$ 418,657$ 459,590$ Payments to suppliers and employees (modified enterprise assumption of 3% growth)(329,500) (427,965) (440,804) Net Cash Provided (Used) by Operating Activities 69,221 (9,308) 18,786 Cash Flows from Noncapital Financing Activities Transfers out (administrative charges)(11,314) (11,597) (11,887) Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (85,000) (80,000) (46,000) Net Cash Used by Capital and Related Financing Activities (85,000) (80,000) (46,000) Cash Flows from Investing Activities Investment earnings 3,416 3,179 2,202 Net Increase (Decrease) in Cash and Cash Equivalents (23,677) (97,726) (36,899) Cash and Cash Equivalents, January 1 341,554 317,877 220,151 Cash and Cash Equivalents, December 31 317,877$ 220,151$ 183,251$ Enterprise Fund Projected Activity 50 Enterprise Fund Projected Activity 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 482,569$ 506,698$ 532,033$ 558,634$ 586,566$ 615,894$ 646,689$ 679,024$ (454,028) (467,649) (481,678) (496,129) (511,013) (526,343) (542,133) (558,397) 28,541 39,049 50,354 62,506 75,554 89,551 104,556 120,626 (12,184) (12,489) (12,801) (13,121) (13,449) (13,785) (14,130) (14,483) (99,500) (71,000) (82,000) (77,000) (49,000) (49,000) (40,000) (57,000) (99,500) (71,000) (82,000) (77,000) (49,000) (49,000) (40,000) (57,000) 1,833 1,019 585 147 (128) 2 269 776 (81,310) (43,420) (43,861) (27,469) 12,977 26,768 50,696 49,920 183,251 101,941 58,521 14,660 (12,809) 168 26,936 77,632 101,941$ 58,521$ 14,660$ (12,809)$ 168$ 26,936$ 77,632$ 127,551$ 51 2022 2023 2024 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Information Technology 2023 IT RMS CAD 200,000$ -$ 200,000$ -$ Information Technology 2023 IT Website 30,000 - 30,000 - Information Technology 2024 IT Cisco 9951 phone-PD receptionist 1,203 - - 1,203 Information Technology 2024 IT Cisco VG 310 modular VoIP gateway 3,712 - - 3,712 Information Technology 2024 IT City Hall firewalls 10,116 - - 10,116 Information Technology 2024 IT City Hall switches 43,301 - - 43,301 Information Technology 2024 IT City Hall wireless LAN conroller 7,935 - - 7,935 Information Technology 2024 IT Robbinsdale School District fiber potential replacement 125,000 - - 125,000 Information Technology 2024 IT Wireless access point 16,831 - - 16,831 Information Technology 2025 IT Reader Board (Ice Arena)55,000 - - - Information Technology 2025 IT Reader Board (Golf)60,000 - - - Information Technology 2025 IT Aquatic Center Catalyst 9200 24 Port PoE 3,848 - - - Information Technology 2025 IT Cisco analog voice gateway 1,968 - - - Information Technology 2025 IT Headsets 315 - - - Information Technology 2025 IT Public Works Cisco Catalyst 9200L 48 port PoE 5,714 - - - Information Technology 2025 IT Wireless access point 6,312 - - - Information Technology 2026 IT City Hall Catalyst 9300 48-Port PoE 6,408 - - - Information Technology 2027 IT Cisco VG 310 modular VoIP gateway 3,712 - - - Information Technology 2027 IT Phones-Cisco and stainless steel surface mount 2,703 - - - Information Technology 2028 IT Cisco phones upgrade 25,306 - - - Information Technology 2029 IT Aquatic Center Catalyst 9200 24 Port PoE 3,848 - - - Information Technology 2029 IT City Hall firewalls 10,116 - - - Information Technology 2029 IT City Hall switches 43,301 - - - Information Technology 2029 IT City Hall wireless LAN conroller 7,935 - - - Information Technology 2029 IT Wireless access point 16,831 - - - Information Technology 2030 IT Cisco VG 310 modular VoIP gateway 3,712 - - - Information Technology 2030 IT Headsets 315 - - - Information Technology 2030 IT Public Works Cisco Catalyst 9200L 48 port PoE 5,714 - - - Information Technology 2030 IT Wireless access point 6,312 - - - Information Technology 2031 IT City Hall Catalyst 9300 48-Port PoE 6,408 - - - Information Technology 2031 IT Robbinsdale School District fiber potential replacement 125,000 - - - Information Technology 2031 IT Server room UPS 50,000 - - - -$ 230,000$ 208,098$ City of New Hope, Minnesota Capital Improvement Plan - Information Technology 9410 Statement of Cash Flows 2022 2023 2024 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (modified enterprise assumption of 5% growth)979,634$ 1,028,616$ 1,080,046$ Payments to suppliers and employees (modified enterprise assumption of 3% growth)(909,390) (936,672) (964,772) Net Cash Provided (Used) by Operating Activities 70,244 91,944 115,275 Cash Flows from Noncapital Financing Activities Transfers out (administrative charges)100,000 - - Cash Flows from Capital and Related Financing Activities Acquisition of capital assets - (230,000) (208,098) Net Cash Used by Capital and Related Financing Activities - (230,000) (208,098) Cash Flows from Investing Activities Investment earnings 5,150 6,904 5,592 Net Increase (Decrease) in Cash and Cash Equivalents 175,394 (131,152) (87,231) Cash and Cash Equivalents, January 1 514,992 690,386 559,234 Cash and Cash Equivalents, December 31 690,386$ 559,234$ 472,003$ City of New Hope, Minnesota Capital Improvement Plan - Information Technology 9410 Schedule of Planned Capital Outlay 2022 to 2032 Department Enterprise Fund Projected Activity 52 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 55,000 - - - - - - - 60,000 - - - - - - - 3,848 - - - - - - - 1,968 - - - - - - - 315 - - - - - - - 5,714 - - - - - - - 6,312 - - - - - - - - 6,408 - - - - - - - - 3,712 - - - - - - - 2,703 - - - - - - - - 25,306 - - - - - - - - 3,848 - - - - - - - 10,116 - - - - - - - 43,301 - - - - - - - 7,935 - - - - - - - 16,831 - - - - - - - - 3,712 - - - - - - - 315 - - - - - - - 5,714 - - - - - - - 6,312 - - - - - - - - 6,408 - - - - - - - 125,000 - - - - - - - 50,000 - 133,157$ 6,408$ 6,415$ 25,306$ 82,031$ 16,053$ 181,408$ -$ 2025 2026 2027 2028 2029 2030 2031 2032 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,134,049$ 1,190,751$ 1,250,289$ 1,312,803$ 1,378,443$ 1,447,366$ 1,519,734$ 1,595,721$ (993,715) (1,023,526) (1,054,232) (1,085,859) (1,118,435) (1,151,988) (1,186,548) (1,222,144) 140,334 167,225 196,057 226,944 260,008 295,378 333,186 373,576 - - - - - - - - (133,157) (6,408) (6,415) (25,306) (82,031) (16,053) (181,408) - (133,157) (6,408) (6,415) (25,306) (82,031) (16,053) (181,408) - 4,720 4,839 6,496 8,457 10,558 12,443 15,361 17,032 11,897 165,656 196,137 210,095 188,535 291,768 167,139 390,609 472,003 483,900 649,555 845,692 1,055,787 1,244,323 1,536,091 1,703,230 483,900$ 649,555$ 845,692$ 1,055,787$ 1,244,323$ 1,536,091$ 1,703,230$ 2,093,838$ Enterprise Fund Projected Activity 53 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 $30,000,000 Unassigned Fund Balance Budget Target Fund Balance (42%) General Fund Balance as a Percent of Expenditures 2021 (Actual) 2022-2032 (Estimated) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% City Tax Capacity Rates 2021 (Actual) and 2022-2032 (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 2021 (Actual) and 2022-2032 (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 2022 Tax Capacity Tax Rate -Comparison Cities 2016 -2022 (Actual) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 54 Property Taxes by Type 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. Percent of Property Taxes - General Levy and Bonds 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 median value home is shown in the graph on the right. Debt Projected City Tax Impact - Median value home The overall property tax levy for an average valued house is highlighted above. $- $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 2021 (Actual) and 2022-2032 (Estimated) General Street Infrastructure Economic Development Authority Park Infrastructure Scheduled debt levies Capital levies - 500 1,000 1,500 2,000 2,500 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Projected City Tax Impact 2021 (Actual) 2022-2032 (Estimated) $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 $50,000,000 Projected Debt Balances Based on Current Amortizations and New Debt Assumed in CIP 2021 (Actual) and 2022-2032 (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 20 3 2 Debt Per Capita -Comparison Cities 2013-2021 (Actual) 2022-2032 (Estimated) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 55