Long Term Financial Plan 2013-2018CITY OF NEW HOPE, MINNESOTA
LONG TERM PLAN - 2013 -2018 — Updated 11/19/13
Prepared by Abdo, is and Meyers, LLP
LONG TERM PLAN
TABLE OF CONTENTS
TransitiVal Letter
FINANCIAL SECTION
Summary of Tax Levies and Tax Rates
Summary of
Outstanding Debt Schedule
Sche1uled. of 7i1-myrtvemwitt 2013 to fi 112 « r
Sclectcd Graphical
M
Paae No.
INTRODUCTORY I
CITY OF NEW HOPE, MINNE SOT.A
LONG TERM PLAN
-2-
IM W
Mayor and City Council
City of New Hope, Minnesota
2013 - 2018 Financial Plan
Executive Summary
Honorable Mayor and City Council,
Fff,,ff,VVVT=
U U 1 4
schedules, Furthermore, there will usually be differences between the projected 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.
The City's assumptions made are as follows:
Assumptions
• Normal operating expenses will increase by a three percent inflation rate.
• No change is anticipated in housing growth.
• New projects have been identified in the capital plan and are to be financed with existing reserves or identified other funding
sources, No new bonds are anticipated.
• The General fund tax levy increase is approximately three percent,
® The TIF districts are assumed to end as scheduled in the TIF plans
® LGA is scheduled to be split between the Water and General funds.
952.835,9090 - Fax 952.835.3261
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0 The Street infrastructure is able to finance all planned projects with existing reserves or planned levy.
0 The Park Infrastructure fund does not have adequate reserves to meet the five year CIP costs. The fund is projected to be in
deficit beginning in 2015. The average annual CIP costs for 2013 to 2018 are approximately $493 thousand while the annual
levy is at $300 thousand. The CIP will continue to be reviewed and adjusted as funding permits. The deficits can be
narrowed down to two large projects; The Parks Civic Center Park Improvement project scheduled in 2014 for $350 thousand
and the Pool update for shallow pools scheduled for 2015 for $300 thousand.
0 HRA Bonds fund has a deficit projected for 2014 and on. This fund deficit is discussed in the TIF cash flow report. The
City's strategy to deal with this fund will include either proceeds from land sales or the EDA forgiving a loan in amounts
excess of the deficits. Processes are in place to ensure this is addressed. I
0 The Water fund is showing positive results due to the $ 1,000,000 transfer from the Storm Water fund in 2013. Rate increases
are assumed at 5 percent for 2014 and three percent in subsequent years. It appears the cornbination of rate increases and
LGA allotments are necessary to finance operations and maintain an adequate reserve. The City may mitigate rate increases if
bonding is considered for the bi-annual projects. Currently the debt as a percent of expenditures is low. The graph below
shows some key performance indicators. The projection anticipates relatively significant improvement in each of the main
areas of performance.
a The past practice of reducing the capital component of the central garage is highlighted in the decrease in cash balance over
the life of the projection. In 2008, the balance was $7.5 million and at the end of 2018 it is projected to be $1.1 million. The
City will need to plan for a greater contribution to the replacement costs in future years.
Although the lee arena is shown as negative, it is offset with positive balances in the Energy Savings Bond (ESB)
component. The ESB is required to be maintained to ensure sufficient funds are accumulated for the $3.5 million balance due
for the ESB final payment in 2018. Based on the energy savings guarantee and consistent ice time sales, the Ice Arena fund
appears to have stable positive cash flows. The negative cash is mainly driven by self -funding future capital purchases. In
total the Ice Arena is planning to spend $564 thousand on capital that previously was funded with the Park Infrastructure
fund.
The Golf Course also reports relatively stable operations. During the life of the projection, it is anticipated that the Golf
Course will spend $217 thousand on capital needs.
952.835M90 * Fax 952.835.3261
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P r"® ected,
s - Water fund
r 2010
2011 —2012 T-2013 2014
----- I ---- -------- T
2015 2016
2-0-1-7----F —2o18
e., iazgs;adti (251-� of op e�p a� LiagF
1,694 081 1
I
380�963 S 1,410 093 1507 385 X 1,465�719
1 490A18 1,515,688
15-17,489 1402,279ry
Cash as a percent of target - no debt
0%
51% 13% 77% ��b 1049,16
62%
........ ... ............ ....
19%,�, 55%
(Arm 9 109n ... . ............ . ............... ..
®col,.
Debt sen. ice (exicoo sting no nev
89 20�
. . . .............. ..........................
.......... . 10
"P 6-10 '�A 14'o
-21% U
�10 167%
1? 177%
Debt service as a percent of receipts
no n w) (green 10%)
12.4%
5 26,, Q) 6 2'! 0
a®'
oall 4 4", 4.21/6,
4 011, 6101 4
42 9%
4 Oco ��b 55
........... .... ..
'40 �J
30;!
revenue increasesorgy
6% 1k, 51�i 3%
3%J
3Q . ....................
a The past practice of reducing the capital component of the central garage is highlighted in the decrease in cash balance over
the life of the projection. In 2008, the balance was $7.5 million and at the end of 2018 it is projected to be $1.1 million. The
City will need to plan for a greater contribution to the replacement costs in future years.
Although the lee arena is shown as negative, it is offset with positive balances in the Energy Savings Bond (ESB)
component. The ESB is required to be maintained to ensure sufficient funds are accumulated for the $3.5 million balance due
for the ESB final payment in 2018. Based on the energy savings guarantee and consistent ice time sales, the Ice Arena fund
appears to have stable positive cash flows. The negative cash is mainly driven by self -funding future capital purchases. In
total the Ice Arena is planning to spend $564 thousand on capital that previously was funded with the Park Infrastructure
fund.
The Golf Course also reports relatively stable operations. During the life of the projection, it is anticipated that the Golf
Course will spend $217 thousand on capital needs.
952.835M90 * Fax 952.835.3261
www,aevwpssxorn -4-
CITY" OF NEW HOPE, MINNESOTA
LONG TERM PLAN
-5-
CITY OF NEW HOPE, MINNESOTA
SUMMARY OF TAX LEVIES AND TAX RATES 2011 TO 2012 ACTUAL AND 2013 TO 2018 PROJECTED
Taxes Levied
Tax type 2011 Actus < 012 Actual '0-- 2014 2015
Property Taxes Levied for General Purposes
9001 General
9203 Street Infrastructure
9015'9501 Economic Development Authority
9233 Park Infrastructure
9013 Bassett Creek Watershed
9014 Shingle Creek Watershed
Total Property Taxes Levied for General
Property Ta=es 11evie-d for Debt S----01 }
9140nMI Obligation Taxable
9145 2010 Fire Truck Certs
Total Property Taxes Levied for Debt
Total Property Taxes For Tax Rate Calculation
Property `faxes Levzed for TIF
9211-9219 BRA Construction
9110-9119 BRA Bonds
Total Property Taxes Levied for TIF
Total
Tax Capacity°
Personal and Real Estate
Assumed Net Growth
Less: Contribution to fiscal disparities
Less: Tax Increment
Tax capacity used for local rate
Add: Distribution from fiscal disparities
Adjusted net tax capicity
Tax Rates
C --neral
Scheduled Debt Levies
Proposed Debt Levies
Total Direct Tax Rate (factors Fiscal Disparities not reflected in tax capacity)
Population
Taxes per Capita
Median Home Value
Median Home Taxes
change from prior years $'s
Tax capacity growth rates
2017
2018 -
General
$ 6,960,834
$ 7,423,273
$ 7,842,983
$ 7,927,983 $
8,165,822
$ 8,410,797
$ 8,663,121 $
8,923,015
General
1,182,5C0
1,182,500
1,182,500
1,182,500
1,217,975
1,254,514
1,292,150
1,330,914
General
85,000
85,000
85,000
150,C00
151,500
153,015
154,545
156,091
General
296,000
296,000
296,000
296,000
298,960
301,950
304,969
308,019
Watershed
23,440
25,533
-
_
-
-
57.72%
57.68%
Watersht-d
28,080
25,273
_
-
0.9890
0.98%
0.96%
0.9€2%
0.90°0
s 8,575,854
9,037,579
9,406,483
9,556.483
9,834,257
]0,120 276
10,4114,785
10,718,038
Debt
38,005
-
-
-
-
-
20,873
20,873
Debt
54,109
161 '172
164,1-
c1.4 7
=63 X03
150,9 2
I6 ,272
159,999
181,000 $
192,105
16I,802
164,325
161,487
163,902
160,962
163,272
`59,999
935
83. 959
995
9570,
717+?;1
•3,9°'=-x,113'
10-8L238
1�7,si1-0si
1u,1?78,€iN
5.4%
0.9%
0.9%
TIF
1,078,910
1,106,326
1,087,764
305,734
305,734
131,235
I31,235
131,235
TIF
293,837
255,483
253,067
253,067
253,967
253,067
253,067
253,067
1,372,747
1,361,809
1,340;831
558,801
558,801
384,302
384.302
334,302
k ]0,140.706
$ =I551.19_d
$ 1€39!1,639
S I02726.7 S?}.556.961
$ 10'55. 40
tr :2.3x9
ry '3S
$ 18,622,288 $ 16,851,982 $ 15,664,668 $ 15,672,947 $ 16,143,135 $ 16,627,429 $ 17,126,252 $ 17,640,040
(2,466,459)
(2,380,423)
(2,255,476)
(2,154,731)
(2,219,373)
(2,285,954)
(2,354,533)
(2,425,169)
(1,044,830)
(944,560)
(366,752)
(376,875)
(388,181)
(399,827)
(411,821)
(424,176)
15,110,999
13,526,999
13,042,440
13,141,341
13,535,581
13,941,649
14,359,898
14,790,695
s_SK651
Y_605 07
3_<1 _34
3.141.341
32-3-5.581
_+_332,64Y
y 4 2_t x8
3-53-5-607
$ 19-007-650
17-132-074 S
16,490.786 $
16-282692 $
15 77= 162 S
`274.297 $
1=79 2-6 $
18.3s6,3(d2
47.87%
53.84%
56.06%
57.72%
57.68%
57.67%
57.63%
57.62%
1.07?0
0.96%
0.9890
0.98%
0.96%
0.9€2%
0.90°0
0.86%
48,9 G
54.8%
57-0%
5&7%
58-6%58,6%
58-15%
58-5
20,873
20,873
20,873
20,873
20,873
20,873
20,873
20,873
S 453 S
E06 S
? S
492 S
576 $
5'.'
-25 S
540
$ 193,000 $
181,000 $
164,000 $
168,000 $
169,680 $
171,377 $
173,091 $
174,821
945
992
935
986
995
1,004
1,013
1,022
5.0%
-5.7%
5.4%
0.9%
0.9%
0.9%
0.9°0
-9.87%
-3.74%
-1.26%
3.00%
3.00%
3.00%
3.00%
0
The Governmental Fund consists of the following funds
9001
General
9015/9501
Economic Development Authority
9013
Bassett Creek Watershed
9014
Shingle Creek Watershed
9021
Police Forfeiture
9016
Solid Waste Management
9017
Ice Arena Endowment
9010
Pool Capital Outlay
9202
City Hall CIP
9213-9219
HRA Construction
9203
Street Infrastructure
9242
Temporary Financing
9233
Park Infrastructure
9140
General Obligation Taxable
9145
2010 Fire Truck Certs
9110-9119
HRA Bonds
2,894,605
Subtotal
The Proprietary Fund consists of the following funds
9300
Sewer (2010 and after)
9301
Water (2010 and after)
9302
Golf Course
9303
Ice Arena
2013
Ice Arena - Energy Savings Bonds
9304
Storm Water
9305
Street Lighting
Subtotal
The Internal Service Fund consists of the followin funds
9402
Central Garage
9407
Insurance Reserve
9408
Employee Leave
9410
Information Technology
LLQ
CITY OF OMINNESOTA
Ending Cash Bulances
Ending Cash Balances - Continued
Status
2011
2012
2013
2014
2015
2016
2017
2018 indicator
4,823,007
$ 5,043,417 $
5,095,735
$ 5,075,059
$ 5,096,952 $
5,163,718 $
5,202,573 $
5,243,533
2.261,409
2,747,314
2,864,633
2,894,605
2,916,099
2,928,661
2,931,819
2,925,085
16,462
-
_
-
-
-
-
- ��
400
-
-
-
-
-
-
85,883
101,878
118,539
135,754
153,539
171,913
171,913
171,913 =1
136,307
140,808
176,646
176,711
176,772
176,829
176,881
176,928
8,825
13,810
14,015
14,223
14,435
14,651
14,871
9,074 a
341,991
348,301
348,301
348,301
348,301
348,301
348,301
348,301
-
100,747
202,560
206,207
209,918
213,697
217,543
221,459 UP
5,301,264
972,194
1,493,181
1,688,273
1,701,668
1,719,199
1,741,031
1,767,336
2,000,484
2349,323
3,606,551
4,826,969
2,206,829
3,111,066
1,317,215
1,367,839
2;660,198
2,763,299
3,494,051
3,585,809
3,672,784
3,754,947
3,760.660
3,765,801 =_=
1,492,844
855,506
607,661
322,992
t 117,74 # i
l 71 500)
[ 16-0-208)
186,186
35,252
35,902
-
-
-
-
-
137,070
1495092
158,874
163,384
172,974
177,340
186,782
190,764
290,693
4,073,402
3,842,796
(86,310)
(202,9391
(319.159?
N.3t1,€ 9)
15513211-1 --
® 19,592,089
19,694,993
22,023,544
19,351,977
16,299,586
17,289,363 ®15,476,702
15,822,892
413,985
281,571
207,528
383,539
449,300
681,509
808,623
1,104,219
706,617
185,070
1,160,718
1,527,846
424,451
943,769
286,640
772,999
11,153
17,094
16,872
24,689
117=151`)
23,396
55,368
105.690
878,961
€ 1,343)
116,093
11,3 ';1
t41:s, ,
s53ts-1551
{$82,15€}
€d 2,5 1) _=
2,052,073
150,000
305,676
466,352
637,028
812,704
993,380
1,184,056
1,668,076
2,094,678
701,466
579,094
561,732
703,116
1,240,600
1,778,171
175,212
201,191
201,191
201,191
201,191
201,191
201,191
201,191
®®5,906,076
2,907,261
2,709,545
3,171,313
1,843,127
2,835,330
3,003,752
4,483,805
6,033,520
5,329,235
4,519,056
3,795,061
2,921,052
2,228,434
1,851,594
1,100,667
461,352
507,917
556,301
606,734
659,287
714,035
771,055
830,426
491,713
620,433
678,257
738,521
801,312
866,717
934,830
988,917
175,565
152,083
116,960
144,460
172,785
201,960
232,010
260,147
® 7,162,150
6,609,668
5,8701,574
5,284,776
4,554,435
4,011,146
_ 3,789,488
3,180,157
$ 32,660,315
$ 291211,922$
30,603.663
S 27,808,066
$ 22,697,148 $
24,135,840 $
22,269.943 $
23,486,854
Trend indicator
Adequate for reserve levels
Adequate as of 2013 but decreasing balances. Need to watch
Below targeted reserve levels and should have a plan to address
M
CITY OF NEW HOPE, MINNESOTA
OUTSTANDING DEBT SCHEDULE
FOR THE YEARS ENDED DECEMBER 31, 2011 TO 2012 ACTUAL AND 2013 TO 2018 PROJECTED
in
Actual
Estimated
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Balance
Fund Issue
12/31/11
12/31.112
12/31/13
12/31/14
12/31/15
12/31.116
12/31/17
12/31/18
GOVERNMENT -TYPE
General Obligation Tax Increment Bonds
9110 G.O. Tax Increment Bonds, Series 2005C
$ -
$ -
$
$
$
$
9117 G.O. Tax Increment Bonds, Series 2004
2,812,500
2,655,000
2,493,000
9118 G.O. Tax Increment Bonds, Series 2004
312,500
295,000
277,000
9119 G.O. Tax Increment Bonds, Series 2005A
1,285,000
1.255,000
1,225,000
9117 G.O. Tax Increment Refunding, Series 2012A 90%
-
2,425,500
2.425,500
2,425,500
2,232,000
2,029,500
1,827,000
1,615,500
9118 G.O. Tax Increment Refunding, Series 2012A 10%
269,500
269,500
269,500
248,000
225,500
203,000
179,500
9119 G.O. Tax Increment Refunding, Series 2012B
-
1,330,000
1,330,000
1,330,000
1,2751,000
1,225,000
1,175,000
1,120,000
Total G.O. Tax Increment Bonds
4,410,000
8,230,000
8,020,000
4,025,000
3,755,000
3,480,000
3,205,000
2,915,000
General Obligation Bonds and Certificates
9402 2011 Fire Truck cert of indebtedness
1,245,000
1,120,000
990,000
855,000
720.000
580,000
440,000
295,000
TOTAL GOVERNMENT -TYPE BONDS
5,655,000
9,350,000
9,010,000
4,880,000
4,475,000
4,060,000
3,645,000
3,210,000
BUSINESS -TYPE
Revenue Bonds
9301 MN Public Facilities Authority - 2011
392,000
373,000
354,000
335,000
315,000
295,000
275,000
254,000
9301 MN Public Facilities Authority - 2013
-
-
1,035,000
983,250
931,500
879,750
828,000
776,250
9304 Storm Water Revenue Bonds, Series 2002!2011 Refunding
605,000
560,000
510,000
460,000
405,000
350,000
295,000
240,000
9301 GO Utility Revenue, Series 2010A
991,794
848,922
701,050
555,000
480,000
405,000
330,000
250,000
9302 GO Utility Revenue, Series 2010A
216,794
143,922
71,050
-
-
-
-
-
9304 GO Utility Revenue, Series 2010A
161,413
107.156
52,900
-
-
-
-
-
Total Revenuc Bonds
2,367,000
2,033,000
2,724,000
2,333,250
2,131,500
1,929,750
1,728,000
1,520,250
Lease revenue bonds
9146 201 !A Taxable Lease Revenue Bonds
3,505,000
3,505,000
3,505,000
3,505,000
3,505,000
3,505,000
3,505,000
3,505,000
Capital Lease
9303 Ice Arena Energy System
11,238
2,931
---------- - -
-
-
-
-
-
TOTAL BUSINESS -TYPE
5,883,238
5,540.931
6,229,000
5,838,250
5,636,500
5,434,750
5,233,000
5,025,250
TOTAL ALL FUNDS
$ 11,538,238
$ 14,890,931
$ 15,239.000
$ 10.718.250
$ 10.111,500
-_
$ 9,494,750
$ 8,878,000
$ 8,235,250
in
CITY OF NEW HOPE
Project
Project
'',
=� _
Alain Funding
Sources*
_
i
i I Funding
Year
Cost*
MSA Street Infra
Water
Seaver
j
Storin I
TIF
CenGar
`i'S Grants Other
Fire Dept
Park Funds',
Ice Arena i Golf Cours V
Total
2013
$ 4,660
$ 4,004 $ 1,087
$ 305
$ 435
$
854 $
610
$ 182
$ $ 1,035 $ 233
$ 36
$ 352
$ 52
$ 68
$ 9,245
2014
1,417
560
150
250
558
1,600
188
165
607
80
37
4,195
2015
-
3_,_925
1,600
450
544
209
141
827
350 88
8,130
2016
-
390
-
300
400
157
- 175
-
344
65 7
1,838
2017
2,950
1,200
425
650
192
300 -
335
- 17
6,069
201$
475
75
275
479
493
1
1,797
'TOTAL
$ 6,077
$ 4,000 $ 9,387
$ 3,330
$ 2,135 $
3,477 $
2,210
$ 928
$ 300 $ 1,035 $ 408
$ 342
$ 2,958
$ 547 $ 217
$ 31.274
*cost in thousands
Funding Sources
MSA
Str infra
W&S
St®ran
TIF
.R
reserveWater and sewer utility fund
Storm water fund
Tax increment financing
$10,000,000Ent
—
=� _
$8,000,000
_
$7,000,000
$6,000,000
-==
$5,000,000
-_ ---
$4,000,000
---
$3,000,000
J---
$2,000,000
---
$1,000,000
_--
2013
CenGar Central Garage fund - internal service fund
WS Watershed commissions
Grants Grant from arty source
Other Includes development funds, County funds, JWC, Federal funds, E
Park Funds Includes park infrastructure, park dedication, liquor d
w .,..� 1 1:: .
2014 2015 2016
Street � Water - Storm _ Park � Other
®'
2017
2018
XAMA
30.00%
IP
20.00°/®
10.00%
0.00%
2009 201
80.00%
X00%
CITY OF NEW HOPE, MINNESOTA
SELECTED GRAPHICAL DATA FROM PROJECTION'
City of New Hope Tax Rates ®2 to 2013 Actual,
Projected 2014-2018
J
201
on
I � I
,2 2013 2014
III
20
60.00%
50.00%� VIII IIN
61'
40.00%
..............................
30.00% 11 M I
HIM
� Vii„ _11111l'iIIII �u»�,� I�IIIIIh��
'Mil 11
IIIIIIIIIIIIIIIL11
1 �? i' 9'
AM
i\lou
11Y1II
Crystal Golden Val!euhuly i ChampIIIIIIII lin
Hopkins eBrooklyn Center
42.87% 48.20% 35.02% 49.00% I 51.10%
47.35% 53.06% 39.21%57.22%
55.74°/®
51.34% 55.80% 41.20%
58.68% 64.36%
56.15% 55.20°b
44.77% 62.42% 71 ,07%
54.81% 61.82% 44.73% 6142% 1 54.34%
Tax Rates
Tax r is I :�lik I U,
i 110i, ft,
M
CITY OF NEW HOPE, MINNESOTA
SELECTED GRAPHICAL DATA FROM PROJECTION
Fund Balance Compared to Expenditures and 40 Percent Reserve Target
IR14000000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000 ..........
III iV
$2,000,000
$_
2010 20111 2012 2013 2014 2015 2016 2017 2018
ovinvo Expenditures Fund Balance —Target
General Fund Balance as a Percent of Revenue
The General fund balance should be maintained at a lievel to 'provide for adcouate
is a sufficient target and New Hope has a 42 percent target based on revenue and expenditure patterns.
as Balance by Planned Use
$35,000,000
$30,000,000
$25,000,000
. 1 .... I ... . ...
$20,000,000Illllllllllllllllllllllllllllllllllllliii
. .... - — --
lqIIIIIIIIII
qw�
$15,000,000
MEN
I III VII
........... III IIIIIIII
F
1 a
$giipl
](),000,00() - - -------
I, VIII
$5,000,000
2011 2012 2013 2014 2015 2016 2017 2018
General A EDA and TIF Enterprise Internal Service 011 Street and Park Infrastructure her
Cash Balance by Planned Use
The balances represented in this greaph are categorized by the planned use and/or limitations determined by statute.
$10,000,000 . . .. . . . .. . . ..........
$9,000,000
$8,000,000
$7,000,000 lul....................... .....
$6,000,000
$5,000,000
$4,000,000 . ........ . .......
$3,000,000 . . . ....... . . . ......... ....... .........
$2,000,000 . ... .... ............... ........ ..... . . .... . ...................
$1,000,000 . ...... . I . ........
mil, on 64 mllul;�
............
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Property taxes 1110,1111111111 intergovernmental Charges for Service Other
General Fund Revenue By Source
used on assumptions of a 3 percent tax revenue increase and a 3% increase for other revenue sources. Taxes are projected to comprise 74
percent of the total general fund revenue sources during the life of the projection
General Fund Expenditures by Function - 2009 to 2012 Actual and 2013 to 2018
Projected
9,000,000 T--
8,000,000
-------- --------- ................ ..
7,000,000mnmo
6,000,000 ... ....... . ...... ..........
5,000,000 . .. . .. . ....... .
4,000,000
3,000,000
2,000,000
............ . .......... .. ....... ... . . . .... I I I ......... ..... . .. ............ ...... . I .... ..
............
1,000,000 ............ ......
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
General government Public safety Public works 11-1),,`,- Culture and recreation
General Fund Expenditures By Function
During the life of the projection, expenditures increase at a 3 percent inflation rate. Public safety comprises the largest percent of total
expenditures or 59 percent in 2016.
-12-
CITY OF NEW HOPE, MINNESOTA
SELECTED GRAPHICAL DATA FROM PROJECTION -
Outstanding Debt by Type - 2009 to 2012 Actual and 2013 to 2018 Projected
$16,000,000
.. . ..... . . ...... . ...........
$14,000,000
$12,000,000
a GeO. TIF General Obligation Enterprise - GO Revenue Enterprise - Lease revenue
Debt Per Capita - Comparison Cities for 2009 through 2012 and New Hope 2009 to
2012 Actual and 2013 to 2018 Projected
$5,000 7--
$4,500 - . .....
iii
$4,000
$3,500
$3,000 �liiij; VIII _ ®__
$2,500
$2,000 . . .
. ...... . ....................
�V'II�V 1111111111
$1,500.L
$1,000i ILII
..........
$500
1 p1 llpl 111
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
xsFI Crystal Golden Valley now Champlin uuluuuuuuuuuuouuuuir Hopkins Brooklyn Center -Illi, --New Hope
Debt Balances
There are no anticipated debt issues in the projection but due to cash deficits in the Water fund, debt may be considered. The majority of the
City's debt is in TIF districts and enterprise funds and as result the only property tax supported debt is the issue done in 2010 for new fire
trucks. Overall the City's debt level is low compared to similar cities,
5"
CITY OF NEW HOPE, MINNESOTA
Planned Capital Projects by Fund 2013-2018
$10,000,000
$9,000,000
$8,000,000
$7,000,000
FIR
. .uuuul
............................................. . . . .............
$6,000,000
.... . ..........
..... . ... ...... . . . .
$5,000,000
$4,000,000 IIII
..... . . ..... . .... . ......_- IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII
... ................... ............ ..........
$3,000,000 ... ... ... ......... ...
.. ........ ............. ...... . . ....... ... .... ...... .. .. .... .. .. .. ..... . .... ............. ....... ..... . . ...... ..
.... .... . . . ..
.....
$2,000,000
............. .
$1,000,000
I.
$-
2013 2014 2015 2016$ 2017 2018
Street Water Storm uo Park ulu Other
Planned Capital Projects
The City has completed a 5 year capital plan for the Street and Park infrastructure Funds. The projects will ultimately be funded by revenue
from the fund. Bonding may be needed for the arena improvement and a portion of the Water fund projects,
Property taxes levied by type ®2 to 2012 Actual and 2013 to 2018 Prqiected
12,000,000
A Ann nAn
M
General Bonds
...........
ullllllllllllllllllll
....... ......
-I HV
.......... ........... .... . .... .. ......
2016 2017 2018
Property Taxes Levied - General and Bonds
This graph highlight the percent of levy by planned use. It is notable that very little of the total levied is for bonds.
-14-
CITY OF NEW HOPE, MINNESOTA
SELECTED GRAPHICAL DATA FROM PROJECTION
Projected City Tax Impact - Median Valued Rol
$1,040
$1,020
$1,000
............................. . . . ........... ................ . .... ... .............
$980
................................................ ............... ................
$960
$940
$920
$900 iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiil
$880 .. . . . .... .............. .. . ... ..... .. . - ............ ................. . . ............. . ...... ......... . . ...... . .. . ........................... . ......... . . . . ....... . .
2011 2012 2013 2014 2015 2016
sw