Long Term Financial Plan 2016-2020
CITY OF NEW HOPE, MINNESOTA
LONG TERM PLAN
Presented on 12/21/2015
Prepared by AEM Financial Solutions, LLC.
THIS PAGE IS LEFT BLANK
INTENTIONALLY
CITY OF NEW HOPE, MINNESOTA
LONG TERM PLAN
TABLE OF CONTENTS
Page No.
Compilation Disclosure 3
INTRODUCTORY SECTION
Transmittal Letter 6
FINANCIAL SECTION
Schedule of Property Tax Levied and Tax Rates 10
Schedule of Annual Fund Cash Balances 12
Outstanding Debt Schedule 14
Capital Improvement Plan
Fire Reserve Fund 9010
Schedule of Planned Capital Outlay 2016 to 2020 15
Schedule of Projected Revenue, Expenditures and Debt 16
City Hall Reserve Fund 9202
Schedule of Planned Capital Outlay 2016 to 2020 19
Schedule of Projected Revenue, Expenditures and Debt 20
Street Infrastructure Reserve Fund 9203
Schedule of Planned Capital Outlay 2016 to 2020 23
Schedule of Projected Revenue, Expenditures and Debt 24
Parks Infrastructure Reserve Fund 9233
Schedule of Planned Capital Outlay 2016 to 2020 26
Schedule of Projected Revenue, Expenditures and Debt 28
Central Garage Internal Service Fund 9402
Schedule of Planned Capital Outlay 2016 to 2020 30
Statement of Cash Flows 31
Sewer Enterprise Fund 9300
Schedule of Planned Capital Outlay 2016 to 2020 32
Statement of Cash Flows 33
Water Enterprise Fund 9301
Schedule of Planned Capital Outlay 2016 to 2020 34
Statement of Cash Flows 35
Storm Water Enterprise Fund 9304
Schedule of Planned Capital Outlay 2016 to 2020 36
Statement of Cash Flows 37
Street Light Enterprise Fund 9305
Schedule of Planned Capital Outlay 2016 to 2020 38
Statement of Cash Flows 39
Ice Arena Enterprise Fund 9303
Schedule of Planned Capital Outlay 2016 to 2020 40
Statement of Cash Flows 41
Golf Course Enterprise Fund 9302
Schedule of Planned Capital Outlay 2016 to 2020 42
Statement of Cash Flows 43
Selected Graphical Data from Projections 45
-1-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-2-
December 10, 2015
COMPILATION DISCLOSURE
Honorable Mayor and City Council
City of New Hope
4401 Xylon Avenue North
New Hope, MN 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, 2020. 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.
AEM FINANCIAL SOLUTIONS, LLC
-3-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-4-
INTRODUCTORY SECTION
CITY OF NEW HOPE, MINNESOTA
LONG TERM PLAN
-5-
December 10, 2015
Honorable Mayor and City Council
City of New Hope
4401 Xylon Avenue North
New Hope, MN 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 five 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:
Governmental fund revenue growth 2.00%
Governmental fund expenditure growth 3.00%
Enterprise fund revenue growth(1)5.00%
Enterprise fund expense growth(1)5.00%
Interest earnings 1.00%
General Fund levy growth 3.00%
Street Infrastructure levy growth 3.00%
EDA levy growth 3.00%
Park levy growth 3.00%
Tax capacity growth 1.50%
Population growth 0.58%
Median home value growth 0.50%
Enterprise debt term 15
Enterprise debt interest rate 2.75%
Governmental funds debt term 20
Governmental funds debt interest rate 2.75%
(1) Ice Arena and Golf Course Enterprise Funds revenue and expenses are estimated to grow at Governmental Fund rates.
-6-
Assumptions with future action
• City Hall Infrastructure Reserve Fund 9202 includes anticipated debt issuance in the amount of $18,000,000 to fund the
construction of a new City Center facility. The Plan assumes this issue will be broken into two separate issues to obtain bank
qualified status. The Plan anticipates a $10 million dollar issue in 2016 and an $8 million dollar issue in 2017 to fund the
City Center construction. Principal and interest debt service projections have been included in this report and repayment is
anticipated to come from future property tax levies.
• Parks Infrastructure Reserve Fund 9233 includes debt issuance in the amount of $7,500,000 to fund the construction of a new
$5,000,000 pool facility. The remaining debt issuance of $2,500,000 has been projected to fund other park improvements
that have been outlined in the capital improvement plan. The Plan assumes this issue will be broken into two separate issues
to obtain bank qualified status. The Plan anticipates a $2 million dollar issue in 2017 and a $5.5 million dollar issue in 2018
to fund these projects. Principal and interest debt service projections have been included in this report and repayment is
anticipated to come from future property tax levies.
• The Water, Sewer and Storm Water enterprise funds include anticipated debt related to infrastructure projects. Issuance of
debt related to infrastructure projects has been assumed beginning in 2018 to provide for capacity to issue bank qualified debt
on all anticipated projects.
Key highlights
• The General fund has a 42 percent operating reserve and is expected to maintain adequate reserves throughout the duration of
the Plan. We anticipate the General fund levy will grow by 3 percent to maintain the desired reserve level.
• The tax levy is projected to increase from $7.5 million to $13.3 million over the duration of this Plan. The levy increase will
result in an increase in the projected tax rate, growing from 58 percent to 78 percent over the duration of this Plan. A
decrease in the tax levy or applicable tax rate is not anticipated, given the debt service requirements of the 2015A and 2015B
bond issue, in addition to future debt service requirements.
• The annual tax amount for the Median Home is projected to increase from $951 to $1,325 over the duration of this Plan. A
decrease in the tax rate is not anticipated, given the debt service requirements of the 2015A and 2015B bond issue, in
addition to future debt service requirements.
• Total debt outstanding is projected to increase from $10.7 million to $42.7 million over the duration of this Plan. The
increase includes debt issued in 2015 for infrastructure improvement projects and anticipated debt issuance for City Center,
Park (Swimming Pool) facilities and infrastructure improvements. As a result, the debt per capita will grow from $516 per
household to an estimated $1,985 over the duration of this Plan.
• The total cash position of the City is projected to decrease from $28 million to $14 million over the duration of this Plan.
The decrease reflects use of cash to fund operations, capital and debt service obligations. To ensure the City can realize the
benefits of bank qualified debt issuance for future capital improvements, the City may wish to look to interfund borrowing to
help balance cash by fund while managing the timing of debt issuance.
-7-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-8-
FINANCIAL SECTION
CITY OF NEW HOPE, MINNESOTA
LONG TERM PLAN
-9-
CITY OF NEW HOPE, MINNESOTA
SCHEDULE OF PROPERTY TAXES LEVIED AND TAX RATES
FOR THE YEARS ENDED DECEMBER 31, 2014 (ACTUAL) AND 2015 TO 2020 (ESTIMATED)
2014 2015 2016 2017 2018 2019 2020
Actual Budgeted Budgeted Estimated Estimated Estimated Estimated
Amounts Amounts Amounts Amounts Amounts Amounts Amounts
Property Taxes Levied for General Purposes
9001 General 7,927,983$ 8,265,410$ 8,898,654$ 9,165,614$ 9,440,582$ 9,723,799$ 10,015,513$
9015/9501 Economic Development Authority 150,000 150,000 150,000 154,500 159,135 163,909 168,826
9203 Street Infrastructure 1,182,500 1,217,975 1,254,514 1,875,104 1,903,526 1,933,110 1,963,893
9233 Park Infrastructure 296,000 304,880 314,026 323,447 438,151 895,708 898,061
Subtotal 9,556,483 9,938,265 10,617,194 11,518,665 11,941,393 12,716,527 13,046,294
Property Taxes Levied for Debt Service
9145 2010 Fire Truck Certs 161,487$ 163,902$ 160,962$ 163,272$ 159,999$ 161,595$ -$
9146 2015A & 2015B GO Tax Increment Bonds - - 34,857 253,840 530,241 537,891 536,304
9202 Potential levies for CIP debt service - City Hall y - - - 813,750 1,450,313 1,424,325 1,398,338
9223 Potential levies for CIP debt service - Parks & Recreation y - - - - 105,000 552,563 544,622
Subtotal 161,487 163,902 195,819 1,230,863 2,245,552 2,676,374 2,479,263
Total Taxes Levied 9,717,970 10,102,167 10,813,014 12,749,527 14,186,945 15,392,900 15,525,557
Subtract: Value of Market Value Levies (150,000) (150,000) (150,000) (154,500) (159,135) (163,909) (168,826)
Add: Distribution from fiscal disparities (2,021,904) (2,054,330) (2,054,330) (2,054,330) (2,054,330) (2,054,330) (2,054,330)
City Net Levy 7,546,066$ 7,897,837$ 8,608,684$ 10,540,697$ 11,973,480$ 13,174,661$ 13,302,401$
Tax Capacity
Personal and Real Estate 15,454,712$ 16,638,485$ 17,886,544$ 18,154,842$ 18,427,165$ 18,703,572$ 18,984,126$
Assumed Net Growth - - - - - - -
Less: Contribution to fiscal disparities (2,154,731) (2,144,256)$ (2,277,639)$ (2,277,639)$ (2,277,639)$ (2,277,639)$ (2,277,639)$
Less: Tax Increment (377,138) (338,715)$ (338,715)$ (338,715)$ (338,715)$ (338,715)$ (338,715)$
Adjusted net tax capacity 12,922,843$ 14,155,514$ 15,270,190$ 15,538,488$ 15,810,811$ 16,087,218$ 16,367,772$
-10-
CITY OF NEW HOPE, MINNESOTA
SCHEDULE OF PROPERTY TAXES LEVIED AND TAX RATES - CONTINUED
FOR THE YEARS ENDED DECEMBER 31, 2014 (ACTUAL) AND 2015 TO 2018 (ESTIMATED)
2014 2015 2016 2017 2018 2019 2020
Actual Estimated Estimated Estimated Estimated Estimated Estimated
Amounts Amounts Amounts Amounts Amounts Amounts Amounts
Tax Rates
General 47.64%45.65%46.39%48.77%50.39%51.73%52.43%
Economic Development Authority 0.90%0.83%0.78%0.82%0.85%0.87%0.88%
Scheduled capital levies 8.88%8.41%8.18%11.70%12.50%15.05%14.98%
Scheduled debt levies 0.97%0.91%0.84%0.87%0.85%0.86%0.00%
Proposed debt levies 0.00%0.00%0.00%4.33%8.30%10.52%10.17%
Total Direct Tax Rate 58.39%55.79%56.19%66.49%72.90%79.03%78.46%
Population 20,812 20,932 21,053 21,175 21,298 21,421 21,545
Taxes per Capita 466.94$ 482.61$ 513.60$ 602.10$ 666.12$ 718.59$ 720.61$
Median Home Value (Jan 2)183,500$ 184,418$ 185,340$ 186,266$ 187,198$ 188,134 189,074
Median Home Taxes (from city)951 914 926 1,102 1,216 1,326 1,325
% change from prior year $'s -4%1%19%10%9%0%
Tax Levy ($)
General 7,927,983$ 8,265,410$ 8,898,654$ 9,165,614$ 9,440,582$ 9,723,799$ 10,015,513$
Street Infrastructure 1,182,500 1,217,975 1,254,514 1,875,104 1,903,526 1,933,110 1,963,893
Economic Development Authority 150,000 150,000 150,000 154,500 159,135 163,909 168,826
Park Infrastructure 296,000 304,880 314,026 323,447 438,151 895,708 898,061
Scheduled debt levies 161,487 163,902 195,819 417,113 690,240 699,486 536,304
Proposed debt levies - - - 813,750 1,555,313 1,976,888 1,942,959
Tax Levy (%)
General 82%82%82%72%67%63%65%
Street Infrastructure 12%12%12%15%13%13%13%
Economic Development Authority 2%1%1%1%1%1%1%
Park Infrastructure 3%3%3%3%3%6%6%
Scheduled debt levies 2%2%2%3%5%5%3%
Proposed debt levies 0%0%0%6%11%13%13%
-11-
CITY OF NEW HOPE, MINNESOTA
SCHEDULE OF ANNUAL FUND CASH BALANCES
FOR THE YEARS ENDED DECEMBER 31, 2014 (ACTUAL) AND 2015 TO 2020 (PROJECTED)
2014 2015 2016 2017 2018 2019 2020
Estimated Estimated Estimated Estimated Estimated Estimated Estimated
Amounts Amounts Amounts Amounts Amounts Amounts Amounts Trend
GOVERNMENT-TYPE
General Operations
101 General 5,763,629$ 5,763,629$ 5,763,629$ 5,763,629$ 5,763,629$ 5,763,629$ 5,763,629$
Special Revenue
9015/9501 Economic Development Authority (104,356) (359,044) (681,500) (1,013,860) (1,356,425) (1,709,506) (2,073,424)
9016 Solid Waste Management 156,804 161,641 166,056 168,392 168,542 166,396 161,839
9017 Ice Arena Endowment 794 802 810 818 826 827 828
9021 Police Forfeitures 120,464 121,669 122,885 124,114 125,355 125,356 125,357
Subtotal 173,706 (74,932) (391,749) (720,535) (1,061,701) (1,416,926) (1,785,399)
Debt Service
9145 2010B GO Equipment Bonds 166,993 178,448 184,713 196,088 202,148 213,103 61,153
9146 2015A & 2015B GO Tax Increment Bonds - (12,937) (111,499) (99,411) (74,162) (48,548) (23,009)
9117-9119 HRA Bonds (134,792) (208,657) (282,413) (350,869) (428,754) (505,693) (591,294)
9242 Temporary Financing 1,928,806 2,048,147 2,331,795 2,615,442 2,899,090 3,182,738 3,466,386
Subtotal 1,961,007 2,005,001 2,122,596 2,361,250 2,598,323 2,841,600 2,913,235
Capital Projects
9010 Fire Capital Projects 150,277 151,780 303,298 306,331 309,394 312,488 315,613
9202 City Hall CIP 296,108 299,069 302,060 305,080 308,131 311,212 314,325
9203 Street Infrastructure 3,258,449 581,475 6,064,794 4,445,351 5,547,708 4,675,251 4,459,434
9213-9221 HRA Construction 4,857,719 (590,002) (1,311,767) (1,534,503) (1,458,638) (1,532,074) (1,605,509)
9233 Park Infrastructure 1,105,556 104,766 (1,263,178) 311,528 247,563 18,847 (30,948)
Subtotal 9,668,109 547,088 4,095,206 3,833,787 4,954,158 3,785,724 3,452,914
Total - Governmental-type Funds 17,566,451 8,240,786 11,589,682 11,238,131 12,254,408 10,974,027 10,344,379
INTERNAL SERVICE
9402 Central Garage 4,661,455$ 4,516,443$ 4,593,232$ 4,766,408$ 1,475,813$ 1,471,708$ 1,515,704$
9407 Insurance Reserve 595,917 567,249 536,106 502,380 465,962 426,737 384,587
9408 Employee Leave 683,936 713,516 739,005 760,182 776,814 788,663 795,478
9410 Information Technology 122,430 125,627 128,627 128,627 128,627 128,627 128,627
Total - Internal Service Funds 6,063,738 5,922,835 5,996,970 6,157,597 2,847,216 2,815,734 2,824,396
-12-
CITY OF NEW HOPE, MINNESOTA
SCHEDULE OF ANNUAL FUND CASH BALANCES - CONTINUED
FOR THE YEARS ENDED DECEMBER 31, 2014 (ACTUAL) AND 2015 TO 2020 (PROJECTED)
2014 2015 2016 2017 2018 2019 2020
Estimated Estimated Estimated Estimated Estimated Estimated Estimated
Amounts Amounts Amounts Amounts Amounts Amounts Amounts Trend
BUSINESS-TYPE
Enterprise Funds
9300 Sewer (39,540)$ 593,368$ 440,124$ (288,832)$ 308,381$ 1,190,565$ 412,987$
9301 Water 2,849,109 6,080,132 2,347,204 1,358,474 3,380,091 1,771,703 1,771,980
9302 Golf Course 56,224 110,239 130,706 98,545 44,487 59,165 49,116
9303 Ice Arena 523,103 221,326 (20,973) (354,006) (891,216) (884,980) (958,212)
9304 Storm Water 940,404 1,509,037 (194,277) (897,001) (226,927) 333,375 74,548
9305 Street Lighting 234,135 230,081 220,861 210,239 198,868 186,711 173,725
Total - Business-type Funds 4,563,435 8,744,183 2,923,645 127,419 2,813,684 2,656,538 1,524,144
AGENCY FUND
9503 Pass-Through Grant Fund 10,096$ 10,197$ 10,299$ 10,402$ 10,506$ 10,611$ 10,717$
Total - Agency Funds 10,096 10,197 10,299 10,402 10,506 10,611 10,717
Grand Total - City 28,203,720$ 22,918,001$ 20,520,596$ 17,533,548$ 17,925,814$ 16,456,911$ 14,703,637$
Trend indicator
Adequate for reserve levels
Adequate as of 2015 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
-13-
CITY OF NEW HOPE, MINNESOTA
OUTSTANDING DEBT SCHEDULE
FOR THE YEARS ENDED DECEMBER 31, 2014 (ACTUAL) AND 2015 TO 2020 (PROJECTED)
2014 2015 2016 2017 2018 2019 2020
Original Issue Maturity Interest Actual Estimated Estimated Estimated Estimated Estimated Estimated
Fund Issue Issue Date Date Rate Balance Balance Balance Balance Balance Balance Balance
GOVERNMENT-TYPE
General Obligation Tax Increment Bonds
9117 G.O. Tax Increment Refunding, Series 2012A 90%2,425,500$ 1/11/2012 2/1/2025 2.00-2.45 %2,425,500$ 2,232,000$ 2,029,500$ 1,827,000$ 1,615,500$ 1,399,500$ 1,174,500$
9118 G.O. Tax Increment Refunding, Series 2012A 10%269,500 1/11/2012 2/1/2025 2.00-2.45 269,500 248,000 225,500 203,000 179,500 155,500 130,500
9119 G.O. Tax Increment Refunding, Series 2012B 1,330,000 1/11/2012 2/1/2031 1.35-4.65 1,330,000 1,275,000 1,225,000 1,175,000 1,120,000 1,065,000 1,005,000
9146 G.O. Tax Increment Finance, Series 2015A 4,395,429 6/17/2015 2/1/2032 2.00-3.00 - 4,395,429 4,395,429 4,395,429 4,144,683 3,886,562 3,624,754
9146 G.O. Tax Increment Finance, Series 2015B 2,290,000 12/1/2015 2/1/2031 0.75-2.90 - 2,290,000 2,290,000 2,181,667 2,058,333 1,930,000 1,801,667
Total G.O. Tax Increment Bonds 10,710,429 4,025,000 10,440,429 10,165,429 9,782,095 9,118,016 8,436,562 7,736,420
General Obligation Certificates
9145 G.O. Certificates of Indebtedness, Series 2010B 1,245,000 11/23/2010 2/1/2020 2.00-2.60 855,000 720,000 580,000 440,000 295,000 150,000 -
TOTAL GOVERNMENT-TYPE 11,955,429 4,880,000 11,160,429 10,745,429 10,222,095 9,413,016 8,586,562 7,736,420
BUSINESS-TYPE
General Obligation Tax Increment Finance Bonds
9300 G.O. Tax Increment Finance, Series 2015A 527,938 6/17/2015 2/1/2032 2.00-3.00 - 527,938 527,938 527,938 497,820 466,817 435,371
9301 G.O. Tax Increment Finance, Series 2015A 503,546 6/17/2015 2/1/2032 2.00-3.00 - 503,546 503,546 503,546 474,820 445,249 415,256
9304 G.O. Tax Increment Finance, Series 2015A 533,088 6/17/2015 2/1/2032 2.00-3.00 - 533,088 533,088 533,088 502,677 471,372 439,619
9300 G.O. Tax Increment Finance, Series 2015B 200,000 12/1/2015 2/1/2031 0.75-2.90 - 200,000 200,000 186,667 173,333 160,000 146,667
9301 G.O. Tax Increment Finance, Series 2015B 1,200,000 12/1/2015 2/1/2031 0.75-2.90 - 1,200,000 1,200,000 1,120,000 1,040,000 960,000 880,000
9304 G.O. Tax Increment Finance, Series 2015B 350,000 12/1/2015 2/1/2031 0.75-2.90 - 350,000 350,000 326,667 303,333 280,000 256,667
Total G.O. Tax Increment Bonds 3,314,571 - 3,314,571 3,314,571 3,197,905 2,991,984 2,783,438 2,573,580
Revenue Bonds
9301 G.O. Public Facilities Authority Note, 2011 411,738 2/23/2011 8/20/2029 1.70 335,000 315,000 295,000 275,000 254,000 233,000 211,000
9301 G.O. Public Facilities Authority Note, 2013 1,035,000 7/24/2013 8/20/2032 1.00 1,003,000 952,000 900,000 848,000 795,000 742,000 688,000
9304 G.O. Water Revenue, Series 2010B 605,000 11/23/2010 2/1/2022 2.00-3.00 460,000 405,000 350,000 295,000 240,000 180,000 125,000
9301 G.O. Utility Revenue, Series 2010A 775,000 5/6/2010 2/1/2021 2.00-3.25 555,000 480,000 405,000 330,000 250,000 170,000 85,000
Total G.O. Revenue Bonds 2,826,738 2,353,000 2,152,000 1,950,000 1,748,000 1,539,000 1,325,000 1,109,000
Lease revenue bonds
9303 2011A Taxable Lease Revenue Bonds 3,505,000 12/1/2011 12/1/2028 5.00 3,505,000 3,505,000 3,505,000 3,505,000 3,505,000 3,505,000 3,505,000
TOTAL BUSINESS-TYPE 9,646,309 5,858,000 8,971,571 8,769,571 8,450,905 8,035,984 7,613,438 7,187,580
POTENTIAL NEW DEBT
General Obligation Bonds
Potential debt to balance projects - City Hall - y - - 10,000,000 17,500,000 16,600,000 15,700,000 14,800,000
Potential debt to balance projects - Parks & Recreation - y - - - 2,000,000 7,400,000 7,025,000 6,650,000
Potential debt to balance projects - Sewer - y - - - - - 1,000,000 2,783,333
Potential debt to balance projects - Water - y - - - - - 1,500,000 1,400,000
Potential debt to balance projects - Storm Water - y - - - - - 750,000 2,200,000
Total Potential General Obligation Bonds - - - 10,000,000 19,500,000 24,000,000 25,975,000 27,833,333
TOTAL ALL FUNDS 21,601,738$ 10,738,000$ 20,132,000$ 29,515,000$ 38,173,000$ 41,449,000$ 42,175,000$ 42,757,333$
Population 20,812 20,932 21,053 21,175 21,298 21,421 21,545
Debt Per Capita - total 516$ 962$ 1,402$ 1,803$ 1,946$ 1,969$ 1,985$
-14-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - FIRE FUND 9010
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Fire Department 2015 Fire Station Apparatus Drive 150,000$ - $ - $ - $ - $ - $
- $ - $ - $ - $ - $
-15-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - FIRE FUND 9010
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
REVENUES
Property taxes -$ -$ -$ -$ -$ -$
Interest on investments 1,503 1,518 3,033 3,063 3,094 3,125
Miscellaneous - - - - - -
TOTAL REVENUES 1,503 1,518 3,033 3,063 3,094 3,125
EXPENDITURES
Capital outlay
Public safety 150,000 - - - - -
TOTAL EXPENDITURES 150,000 - - - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (148,497) 1,518 3,033 3,063 3,094 3,125
OTHER FINANCING SOURCES
Transfer in 150,000 150,000 - - - -
Bond proceeds - - - - - -
Sale of Fixed Asset - - - - - -
Transfers out - - - - - -
TOTAL OTHER FINANCING SOURCES 150,000 150,000 - - - -
NET CHANGE IN FUND BALANCES 1,503 151,518 3,033 3,063 3,094 3,125
FUND BALANCES JANUARY 1 150,277 151,780 303,298 306,331 309,394 312,488
FUND BALANCES, DECEMBER 31 151,780$ 303,298$ 306,331$ 309,394$ 312,488$ 315,613$
Capital Project Fund Projected Activity
-16-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - FIRE FUND 9010
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT - CONTINUED
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
Beginning Balance -$ -$ -$ -$ -$ -$
Revenue
Property taxes - - - - - -
Interest - - - - - -
Sales - - - - - -
Total Revenue - - - - - -
Expenditures
Principle - - - - - -
Interest - - - - - -
Total Expenditures - - - - - -
Ending Balance -$ -$ -$ -$ -$ -$
Debt Service Fund Related Activity
-17-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-18-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - CITY HALL 9202
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
City Hall 2016 New City Center Construction 10,000,000$ 10,000,000$ -$ -$ -$ -$
City Hall 2017 New City Center Construction 8,000,000 - 8,000,000 - - -
10,000,000$ 8,000,000$ - $ - $ - $
-19-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - CITY HALL 9202
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
REVENUES
Property taxes -$ -$ -$ -$ -$ -$
Interest on investments 2,961 2,991 3,021 3,051 3,081 3,112
Miscellaneous - - - - - -
TOTAL REVENUES 2,961 2,991 3,021 3,051 3,081 3,112
EXPENDITURES
Capital outlay
General government - 10,000,000 8,000,000 - - -
TOTAL EXPENDITURES - 10,000,000 8,000,000 - - -
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 2,961 (9,997,009) (7,996,979) 3,051 3,081 3,112
OTHER FINANCING SOURCES
Transfers in
General Fund - - - - - -
Central Garage - - - - - -
Street Infrastructure - - - - - -
Water - - - - - -
Sewer - - - - - -
Storm water - - - - - -
Fire - - - - - -
Bond proceeds - 10,000,000 8,000,000 - - -
Sale of Fixed Asset - - - - - -
Transfers out - - - - - -
TOTAL OTHER FINANCING SOURCES - 10,000,000 8,000,000 - - -
NET CHANGE IN FUND BALANCES 2,961 2,991 3,021 3,051 3,081 3,112
FUND BALANCES JANUARY 1 296,108 299,069 302,060 305,080 308,131 311,212
FUND BALANCES, DECEMBER 31 299,069$ 302,060$ 305,080$ 308,131$ 311,212$ 314,325$
Capital Project Fund Projected Activity
-20-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - CITY HALL 9202
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT - CONTINUED
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
Beginning Balance -$ -$ -$ 38,750$ 107,813$ 175,638$
Revenue
Property taxes - - 813,750 1,450,313 1,424,325 1,398,338
Interest - - - - - -
Sales - - - - - -
Total Revenue - - 813,750 1,450,313 1,424,325 1,398,338
Expenditures
Principle - - 500,000 900,000 900,000 900,000
Interest - - 275,000 481,250 456,500 431,750
Total Expenditures - - 775,000 1,381,250 1,356,500 1,331,750
Ending Balance -$ -$ 38,750$ 107,813$ 175,638$ 242,225$
Debt Service Fund Related Activity
-21-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-22-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STREET INFRASTRUCTURE 9203
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Public works 2016 2016 Northwood South infrastructure 2,550,000$ 2,550,000$ - $ - $ - $ - $
Public works 2016 2016 Seal Coat 250,000 250,000 - - - -
Public works 2016 169 Sound Wall 160,000 160,000 - - - -
Public works 2016 49th Ave Reconstruct 2,000,000 2,000,000 - - - -
Public works 2017 2017 Northwood North infrastructure 2,700,000 - 2,700,000 - - -
Public works 2017 2017 Seal Coat 300,000 - 300,000 - - -
Public works 2018 2018 Seal Coat 300,000 - - 300,000 - -
Public works 2019 2019 Street Infrastructure 2,000,000 - - - 2,000,000 -
Public works 2019 Boone Mill & Overlay 2,000,000 - - - 2,000,000 -
Public works 2019 2019 Seal Coat 325,000 - - - 325,000 -
Public works 2020 Mill & Overlay 1,300,000 - - - - 1,300,000
Public works 2020 2020 Seal Coat 400,000 - - - - 400,000
4,960,000$ 3,000,000$ 300,000$ 4,325,000$ 1,700,000$
-23-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STREET INFRASTRUCTURE 9203
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
REVENUES
Property taxes 1,217,975$ 1,254,514$ 1,292,149$ 1,330,914$ 1,370,841$ 1,411,967$
Interest on investments 85,051 25,000 60,648 44,176 54,927 45,934
Miscellaneous - - - - - -
TOTAL REVENUES 1,303,026 1,279,514 1,352,797 1,375,090 1,425,768 1,457,901
EXPENDITURES
Capital outlay
Public works 3,980,000 4,960,000 3,000,000 300,000 4,325,000 1,700,000
TOTAL EXPENDITURES 3,980,000 4,960,000 3,000,000 300,000 4,325,000 1,700,000
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (2,676,974) (3,680,486) (1,647,203) 1,075,090 (2,899,232) (242,099)
OTHER FINANCING SOURCES
Transfers in - - - - - -
TIF - - - - - -
MSA - 2,000,000 - - 2,000,000 -
Bond proceeds - 7,163,805 - - - -
Sale of Fixed Asset - - - - - -
Transfers out - - - - - -
TOTAL OTHER FINANCING SOURCES - 9,163,805 - - 2,000,000 -
NET CHANGE IN FUND BALANCES (2,676,974) 5,483,319 (1,647,203) 1,075,090 (899,232) (242,099)
FUND BALANCES JANUARY 1 3,258,449 581,475 6,064,794 4,417,591 5,492,681 4,593,449
FUND BALANCES, DECEMBER 31 581,475$ 6,064,794$ 4,417,591$ 5,492,681$ 4,593,449$ 4,351,350$
Capital Project Fund Projected Activity
-24-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STREET INFRASTRUCTURE 9203
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT - CONTINUED
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
Beginning Balance -$ -$ -$ 27,760$ 55,027$ 81,802$
Revenue
Property taxes - - 582,955 572,612 562,269 551,926
Interest - - - - - -
Sales - - - - - -
Total Revenue - - 582,955 572,612 562,269 551,926
Expenditures
Principle - - 358,190 358,190 358,190 358,190
Interest - - 197,005 187,154 177,304 167,454
Total Expenditures - - 555,195 545,345 535,494 525,644
Ending Balance -$ -$ 27,760$ 55,027$ 81,802$ 108,084$
Debt Service Fund Related Activity
-25-
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Parks & Recreation 2016 Parks concrete, trail work for Northwood project 50,000$ 50,000$ -$ -$ -$ -$
Parks & Recreation 2016 Parks courts and equipment repair 25,000 25,000 - - - -
Parks & Recreation 2016 Parks Northwood Park play equipment project 225,000 225,000 - - - -
Parks & Recreation 2017 Parks concrete, trail work for Northwood project 50,000 - 50,000 - - -
Parks & Recreation 2017 Parks Fred Sims Park play equipment 180,000 - 180,000 - - -
Parks & Recreation 2017 Parks lighting repair/replace or LED upgrades 60,000 - 60,000 - - -
Parks & Recreation 2017 Parks Lion's Park parking lot 70,000 - 70,000 - - -
Parks & Recreation 2017 Parks maintenance, courts and equipment repair 270,000 225,000 270,000 - - -
Parks & Recreation 2017 Parks raise Northwood left field 45,000 - 45,000 - - -
Parks & Recreation 2017 Parks replace backstop at Holiday 15,000 - 15,000 - - -
Parks & Recreation 2018 Parks Cgyms pitching machines 5,000 - - 5,000 - -
Parks & Recreation 2018 Parks Civic Center Park improvements, hard surfaces 375,000 - - 375,000 - -
Parks & Recreation 2018 Parks concrete, trail work 50,000 - - 50,000 - -
Parks & Recreation 2018 Parks lighting repair/replace or LED upgrades 75,000 - - 75,000 - -
Parks & Recreation 2018 Parks Lion's Park ballfield fences 35,000 - - 35,000 - -
Parks & Recreation 2018 Parks maintenance, courts and equipment repair 290,000 - - 290,000 - -
Parks & Recreation 2018 Parks Sunnyside Park play equipment 180,000 - - 180,000 - -
Parks & Recreation 2018 Parks Sk8 Pad improvements 75,000 - - 75,000 - -
Parks & Recreation 2019 Parks concrete, trail work 50,000 - - - 50,000 -
Parks & Recreation 2019 Parks frisbee golf equipment 15,000 - - - 15,000 -
Parks & Recreation 2019 Parks Jaycee Park play equipment 180,000 - - - 180,000 -
Parks & Recreation 2019 Parks lighting improvements 75,000 - - - 75,000 -
Parks & Recreation 2019 Parks maintenance, courts and equipment repair 60,000 - - - 60,000 -
Parks & Recreation 2020 Parks Begin Park play equipment project 185,000 - - - - 185,000
Parks & Recreation 2020 Parks concrete, trail work 75,000 - - - - 75,000
Parks & Recreation 2020 Parks lighting improvements 75,000 - - - - 75,000
Parks & Recreation 2020 Parks maintenance 45,000 - - - - 45,000
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - PARKS & RECREATION FUND 9233
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
-26-
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Parks & Recreation 2016 Pool main pump 25,000$ 25,000$ -$ -$ -$ -$
Parks & Recreation 2016 Pool main water heater 80,000 80,000 - - - -
Parks & Recreation 2016 Pool pool decking/paint/misc 25,000 25,000 - - - -
Parks & Recreation 2016 Pool update shallow water area 1,055,000 1,055,000 - - - -
Parks & Recreation 2017 Pool decking/paint/misc 25,000 - 25,000 - - -
Parks & Recreation 2017 Pool drop slide 10,000 - 10,000 - - -
Parks & Recreation 2017 Pool showers 30,000 - 30,000 - - -
Parks & Recreation 2018 *Pool chemical feeder 37,000 - - 37,000 - -
Parks & Recreation 2018 Pool decking/paint/misc 25,000 - - 25,000 - -
Parks & Recreation 2018 *Pool drains 15,000 - - 15,000 - -
Parks & Recreation 2018 Pool main pool improvement 4,472,000 - - 4,472,000 - -
Parks & Recreation 2018 *Pool paint main pool 260,000 - - 260,000 - -
Parks & Recreation 2018 *Pool recirculating pump 26,000 - - 26,000 - -
Parks & Recreation 2019 *Pool deck lighting 190,000 - - - 190,000 -
Parks & Recreation 2019 Pool decking/paint/misc 25,000 - - - 25,000 -
Parks & Recreation 2020 Pool decking/paint/maint 25,000 - - - - 25,000
Parks & Recreation 2020 Pool sound system 20,000 - - - - 20,000
1,710,000$ 755,000$ 5,920,000$ 595,000$ 425,000$
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020 - CONTINUED
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - PARKS & RECREATION FUND 9233
-27-
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
REVENUES
Property taxes 304,880$ 314,026$ 323,447$ 333,151$ 343,145$ 353,439$
Interest on investments 11,683 10,000 (12,632) 3,115 2,476 188
Miscellaneous 27,647 43,030 43,891 44,768 45,664 46,577
TOTAL REVENUES 344,210 367,056 354,706 381,034 391,285 400,205
EXPENDITURES
Capital outlay
Parks & Recreation 1,320,000 1,710,000 755,000 5,920,000 595,000 425,000
TOTAL EXPENDITURES 1,320,000 1,710,000 755,000 5,920,000 595,000 425,000
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (975,790) (1,342,944) (400,294) (5,538,966) (203,715) (24,795)
OTHER FINANCING SOURCES
Bond proceeds - - 2,000,000 5,500,000 - -
Transfers in - - - - - -
Transfers out (pool subsidy)(25,000) (25,000) (25,000) (25,000) (25,000) (25,000)
TOTAL OTHER FINANCING SOURCES (25,000) (25,000) 1,975,000 5,475,000 (25,000) (25,000)
NET CHANGE IN FUND BALANCES (1,000,790) (1,367,944) 1,574,706 (63,966) (228,715) (49,795)
FUND BALANCES JANUARY 1 1,105,556 104,766 (1,263,178) 311,528 247,563 18,847
FUND BALANCES, DECEMBER 31 104,766$ (1,263,178)$ 311,528$ 247,563$ 18,847$ (30,948)$
Capital Project Fund Projected Activity
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - PARKS & RECREATION FUND 9233
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT
-28-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - PARKS & RECREATION FUND 9233
SCHEDULE OF PROJECTED REVENUE, EXPENDITURES AND DEBT - CONTINUED
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
Beginning Balance -$ -$ -$ -$ 5,000$ 31,313$
Revenue
Property taxes - - - 105,000 552,563 544,622
Interest - - - - - -
Sales - - - - - -
Total Revenue - - - 105,000 552,563 544,622
Expenditures
Principle - - - 100,000 375,000 375,000
Interest - - - - 151,250 143,688
Total Expenditures - - - 100,000 526,250 518,688
Ending Balance -$ -$ -$ 5,000$ 31,313$ 57,247$
Debt Service Fund Related Activity
-29-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - CENTRAL GARAGE FUND 9402
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Public works 2016 PW HVAC 15,000$ 15,000$ -$ -$ -$ -$
Public works 2016 Central Garage Software 10,000 10,000 - - - -
Public works 2017 HVAC Roof Unit 15,000 - 15,000 - - -
Public works 2017 Replace CG Garage door 10,000 - 10,000 - - -
Public works 2018 Public Works addition 3,000,000 - - 3,000,000 - -
Public works 2018 Barrier walls PW facility 90,000 - - 90,000 - -
Public works 2018 Asphalt Surfaces 90,000 - - 90,000 - -
Public works 2018 Shop Painting (Interior)80,000 - - 80,000 - -
Public works 2018 Dirt Building 60,000 - - 60,000 - -
Public works 2018 Repair Shop Floor Painting 20,000 - - 20,000 - -
Public works 2018 PW tile Floor Coverings 10,000 - - 10,000 - -
Public works 2018 Irrigation PW facility 20,000 - - 20,000 - -
Public works 2019 Security system replacement 80,000 - - - 80,000 -
Public works 2019 Replace 50,000 Lb Truck Lift 150,000 - - - 150,000 -
Public works 2020 Roof for mechanic's bay 175,000 - - - - 175,000
Public works 2017 Equipment - Central Garage Master Asset List 557,914 - 557,914 - - -
Public works 2018 Equipment - Central Garage Master Asset List 566,943 - - 566,943 - -
Public works 2019 Equipment - Central Garage Master Asset List 417,372 - - - 417,372 -
Public works 2020 Equipment - Central Garage Master Asset List 601,644 - - - - 601,644
25,000$ 582,914$ 3,936,943$ 647,372$ 776,644$
Department
-30-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - CENTRAL GARAGE FUND 9402
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users -$ -$ -$ -$ -$ -$
Payments to suppliers and employees (1,130,173) (1,083,405) (1,137,575) (1,194,454) (1,254,177) (1,316,886)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES (1,130,173) (1,083,405) (1,137,575) (1,194,454) (1,254,177) (1,316,886)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers in - charges to other departments 1,765,082 1,878,392 1,847,733 1,793,138 1,882,685 2,122,809
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 1,765,082 1,878,392 1,847,733 1,793,138 1,882,685 2,122,809
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (877,036) (773,198) (582,914) (3,936,943) (647,372) (776,644)
Proceeds from sale of assets - - - - - -
Proceeds from bonds and notes issued - - - - - -
Principal and interest paid on long-term debt - - - - - -
Principal and interest paid on long-term debt - - - - - -
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES (877,036) (773,198) (582,914) (3,936,943) (647,372) (776,644)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 97,115 55,000 45,932 47,664 14,758 14,717
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (145,012) 76,789 173,176 (3,290,595) (4,106) 43,997
CASH AND CASH EQUIVALENTS, JANUARY 1 4,661,455 4,516,443 4,593,232 4,766,408 1,475,813 1,471,708
CASH AND CASH EQUIVALENTS, DECEMBER 31 4,516,443$ 4,593,232$ 4,766,408$ 1,475,813$ 1,471,708$ 1,515,704$
Enterprise Fund Projected Activity
-31-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - SEWER FUND 9300
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Sewer 2016 49th Ave Reconstruct 50,000$ 50,000$ -$ -$ -$ -$
Sewer 2016 2016 Street Infrastructure - Northwood South 200,000 200,000 - - - -
Sewer 2016 Line sewer pipes 300,000 300,000 - - - -
Sewer 2016 Lift Station #1 - Sewer Weir improvements 130,000 130,000 - - - -
Sewer 2016 Lift Station #1 - Generator 85,000 85,000 - - - -
Sewer 2016 Lift Station telemetry 60,000 60,000 - - - -
Sewer 2016 Line Lift station 20,000 20,000 - - - -
Sewer 2016 58th Avenue Lift Station (TIF)650,000 650,000 - - - -
Sewer 2017 2017 Street Infrastructure - Northwood North 300,000 - 300,000 - - -
Sewer 2017 Line sewer pipes 325,000 - 325,000 - - -
Sewer 2017 Lift Station #5 Generator 85,000 - 85,000 - - -
Sewer 2017 Line Lift station 20,000 - 20,000 - - -
Sewer 2017 Replace lift station motor & Pump 40,000 - 40,000 - - -
Sewer 2018 Line sewer pipes 350,000 - - 350,000 - -
Sewer 2018 Line Lift Station 20,000 - - 20,000 - -
Sewer 2018 Replace lift station motor & Pump 40,000 - - 40,000 - -
Sewer 2019 2019 Street Infrastructure 500,000 - - - 500,000 -
Sewer 2019 Line sewer pipes 350,000 - - - 350,000 -
Sewer 2019 Replace lift station motor & Pump 40,000 - - - 40,000 -
Sewer 2020 2020 Street Infrastructure 100,000 - - - - 100,000
Sewer 2020 Line sewer pipes 400,000 - - - - 400,000
Sewer 2020 Replace lift station motor & Pump 40,000 - - - - 40,000
1,495,000$ 770,000$ 410,000$ 890,000$ 540,000$
Department
-32-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - SEWER FUND 9300
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 2,733,500$ 2,800,000$ 2,940,000$ 3,087,000$ 3,241,350$ 3,403,418$
Payments to suppliers and employees (2,653,581) (2,737,613) (2,874,494) (3,018,218) (3,169,129) (3,327,586)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES 79,919 62,387 65,506 68,782 72,221 75,832
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers in - TIF - 650,000 - - - -
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES - 650,000 - - - -
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (250,000) (845,000) (770,000) (410,000) (890,000) (540,000)
Intergovernmental 145,000 - - - - -
Proceeds from sale of assets - - - - - -
Proceeds from bonds and notes issued 727,938 - - 1,000,000 1,850,000 -
Principal and interest paid on long-term debt (71,936) (22,131) (28,864) (58,680) (58,955) (58,773)
Principal and interest paid on long-term debt - - - - (94,167) (266,542)
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES 551,002 (867,131) (798,864) 531,320 806,879 (865,315)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 1,987 1,500 4,401 (2,888) 3,084 11,906
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 632,908 (153,244) (728,956) 597,213 882,183 (777,577)
CASH AND CASH EQUIVALENTS, JANUARY 1 (39,540) 593,368 440,124 (288,832) 308,381 1,190,565
CASH AND CASH EQUIVALENTS, DECEMBER 31 593,368$ 440,124$ (288,832)$ 308,381$ 1,190,565$ 412,987$
Enterprise Fund Projected Activity
-33-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - WATER FUND 9301
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Water 2016 Reconstruct 49th State/Aid 515,000$ 515,000$ -$ -$ - $ -$
Water 2016 Northwoods Lake South 1,200,000 1,200,000 - - - -
Water 2016 Northwood Lake Ponds 50,000 50,000 - - - -
Water 2017 2017 Northwood N infrastructure 1,200,000 - 1,200,000 - - -
Water 2017 Henn Cty Reconstruct West Broadway 300,000 - 300,000 - - -
Water 2019 2019 infrastructure project 1,500,000 - - - 1,500,000 -
Water 2020 Mill & Overlay 500,000 - - - - 500,000
1,765,000$ 1,500,000$ - $ 1,500,000$ 500,000$
Department
-34-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - WATER FUND 9301
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 4,233,000$ 4,396,648$ 4,616,480$ 4,847,304$ 5,089,670$ 5,344,153$
Payments to suppliers and employees (3,356,049) (3,394,221) (3,563,932) (3,742,129) (3,929,235) (4,125,697)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES 876,951 1,002,427 1,052,548 1,105,176 1,160,435 1,218,456
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers out - - - - - -
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES - - - - - -
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (400,000) (4,265,000) (1,500,000) - (1,500,000) (500,000)
Intergovernmental 1,400,000 - - - - -
Proceeds from bonds and notes issued 1,703,546 - - 1,500,000 - -
Interfund loan payments (119,341) (283,648) (283,648) (283,648) (850,943) (283,648)
Principal and interest paid on long-term debt (231,692) (196,707) (281,103) (313,496) (310,430) (313,748)
Principal and interest paid on long-term debt - - - - (141,250) (138,500)
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES 2,352,513 (4,745,355) (2,064,750) 902,856 (2,802,624) (1,235,896)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 1,559 10,000 23,472 13,585 33,801 17,717
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 3,231,023 (3,732,928) (988,730) 2,021,617 (1,608,388) 277
CASH AND CASH EQUIVALENTS, JANUARY 1 2,849,109 6,080,132 2,347,204 1,358,474 3,380,091 1,771,703
CASH AND CASH EQUIVALENTS, DECEMBER 31 6,080,132$ 2,347,204$ 1,358,474$ 3,380,091$ 1,771,703$ 1,771,980$
Enterprise Fund Projected Activity
-35-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STORM WATER FUND 9304
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Storm water 2016 49th Avenue Reconstruct 690,000$ 690,000$ -$ -$ -$ -$
Storm water 2016 2016 Northwood South infrastructure 350,000 350,000 - - - -
Storm water 2016 Northwood Lake Grit Chambers 200,000 200,000 - - - -
Storm water 2016 Northwood Lake Ponds 300,000 300,000 - - - -
Storm water 2016 Storm Water Project 170,000 170,000 - - - -
Storm water 2016 169 Sound Wall 65,000 65,000 - - - -
Storm water 2017 2017 Northwood N infrastructure 350,000 - 350,000 - - -
Storm water 2017 Northwood Lake Grit Chambers 300,000 - 300,000 - - -
Storm water 2017 Storm Water Project 100,000 - 100,000 - - -
Storm water 2017 Meadow Lake alum treatment 15,000 - 15,000 - - -
Storm water 2018 Storm Water Project 100,000 - - 100,000 - -
Storm water 2019 2019 infrastructure project 400,000 - - - 400,000 -
Storm water 2019 42nd ave flooding 400,000 - - - 400,000 -
Storm water 2019 Required TMDL projects 100,000 - - - 100,000 -
Storm water 2020 Required TMDL projects 100,000 - - - - 100,000
1,775,000$ 765,000$ 100,000$ 900,000$ 100,000$
Department
-36-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STORM WATER FUND 9304
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 950,000$ 950,000$ 997,500$ 1,047,375$ 1,099,744$ 1,154,731$
Payments to suppliers and employees (880,021) (802,714) (842,850) (884,992) (929,242) (975,704)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES 69,979 147,286 154,650 162,383 170,502 179,027
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers out - - - - - -
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES - - - - - -
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (350,000) (1,775,000) (765,000) (100,000) (900,000) (100,000)
Intergovernmental revenue - - - - - -
Proceeds from bonds and notes issued 883,088 - - 750,000 1,500,000 -
Principal and interest paid on long-term debt (53,729) (87,600) (104,374) (133,340) (137,306) (130,687)
Principal and interest paid on long-term debt - - - - (70,625) (210,500)
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES 479,359 (1,862,600) (869,374) 516,660 392,069 (441,187)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 19,295 12,000 12,000 (8,970) (2,269) 3,334
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 568,633 (1,703,314) (702,724) 670,073 560,302 (258,826)
CASH AND CASH EQUIVALENTS, JANUARY 1 940,404 1,509,037 (194,277) (897,001) (226,927) 333,375
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,509,037$ (194,277)$ (897,001)$ (226,927)$ 333,375$ 74,548$
Enterprise Fund Projected Activity
-37-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STREET LIGHT FUND 9305
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Department Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Public works 2017 Convert HPS to LED - 42nd Avenue 100,000$ -$ 100,000$ -$ -$ -$
- $ 100,000$ - $ - $ - $
-38-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - STREET LIGHT FUND 9305
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 137,000$ 137,000$ 143,850$ 151,043$ 158,595$ 166,524$
Payments to suppliers and employees (145,470) (149,220) (156,681) (164,515) (172,741) (181,378)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES (8,470) (12,220) (12,831) (13,473) (14,146) (14,853)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers in - TIF - - 100,000 - - -
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES - - 100,000 - - -
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets - - (100,000) - - -
Proceeds from sale of assets - - - - - -
Proceeds from bonds and notes issued - - - - - -
Principal and interest paid on long-term debt - - - - - -
Principal and interest paid on long-term debt - - - - - -
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES - - (100,000) - - -
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 4,416 3,000 2,209 2,102 1,989 1,867
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (4,054) (9,220) (10,622) (11,370) (12,157) (12,986)
CASH AND CASH EQUIVALENTS, JANUARY 1 234,135 230,081 220,861 210,239 198,868 186,711
CASH AND CASH EQUIVALENTS, DECEMBER 31 230,081$ 220,861$ 210,239$ 198,868$ 186,711$ 173,725$
Enterprise Fund Projected Activity
-39-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - ICE ARENA FUND 9303
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Ice Arena 2016 IA HVAC Improvements Phase 2 200,000 $ 200,000 $ -$ -$ -$ -$
Ice Arena 2016 IA boards and glass (South rink)50,000 50,000 - - - -
Ice Arena 2016 IA radiant heaters (South rink)25,000 25,000 - - - -
Ice Arena 2016 IA Shower replacement 30,000 30,000 - - - -
Ice Arena 2017 IA sealcoat/stripe parking lot 30,000 - 30,000 - - -
Ice Arena 2017 IA skate tile 15,000 - 65,000 - - -
Ice Arena 2017 IA rink lighting (North Rink)50,000 - 50,000 - - -
Ice Arena 2017 IA HVAC Phase 3 200,000 - 200,000 - - -
Ice Arena 2017 IA front doors 40,000 - 40,000 - - -
Ice Arena 2018 IA re-cement floor (South Rink)550,000 - - 550,000 - -
Ice Arena 2018 IA water heaters 30,000 - - 30,000 - -
Ice Arena 2019 IA radiant heaters (North Rink)25,000 - - - 25,000 -
Ice Arena 2020 IA protective netting 8,000 - - - - 8,000
Ice Arena 2020 IA weight room improvements 15,000 - - - - 15,000
Ice Arena 2020 IA locker room doors 28,000 - - - - 28,000
Ice Arena 2020 IA scoreboard (south rink)25,000 - - - - 25,000
Ice Arena 2020 IA concession equipment 12,000 - - - - 12,000
Ice Arena 2020 IA front island 10,000 - - - - 10,000
305,000 $ 385,000 $ 580,000 $ 25,000$ 98,000 $
Department
-40-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - ICE ARENA FUND 9303
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 780,150 $ 783,850 $ 799,527 $ 815,518 $ 831,828$ 848,464 $
Payments to suppliers and employees (674,265) (706,707) (727,908) (749,745) (772,238) (795,405)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES 105,885 77,143 71,619 65,772 59,590 53,059
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers in 38,040 38,040 38,040 38,040 38,040 38,040
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES 38,040 38,040 38,040 38,040 38,040 38,040
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (398,000) (305,000) (385,000) (580,000) (25,000) (98,000)
Proceeds from sale of assets - - - - - -
Proceeds from bonds and notes issued - - - - - -
Principal and interest paid on long-term debt (57,482) (57,482) (57,482) (57,482) (57,482) (57,482)
Principal and interest paid on long-term debt - - - - - -
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES (455,482) (362,482) (442,482) (637,482) (82,482) (155,482)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 9,780 5,000 (210) (3,540) (8,912) (8,850)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (301,777) (242,299) (333,033) (537,210) 6,236 (73,232)
OPERATING CASH 68,103 (398,674) (810,973) (1,319,006) (2,041,216) (2,229,980)
CASH HELD WITH FISCAL AGENT 455,000 620,000 790,000 965,000 1,150,000 1,345,000
CASH AND CASH EQUIVALENTS, JANUARY 1 (1)523,103 221,326 (20,973) (354,006) (891,216) (884,980)
OPERATING CASH (398,674) (810,973) (1,319,006) (2,041,216) (2,229,980) (2,503,212)
CASH HELD WITH FISCAL AGENT 620,000 790,000 965,000 1,150,000 1,345,000 1,545,000
CASH AND CASH EQUIVALENTS, DECEMBER 31 (1)221,326 $ (20,973)$ (354,006)$ (891,216)$ (884,980)$ (958,212)$
(1) The value of cash & cash equivalents includes cash held in escrow which is restricted for future debt service.
Enterprise Fund Projected Activity
-41-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - GOLF FUND 9302
SCHEDULE OF PLANNED CAPITAL OUTLAY 2016 TO 2020
2016 2017 2018 2019 2020
Year to Budgeted Estimated Estimated Estimated Estimated
Replace Item Cost Amounts Amounts Amounts Amounts Amounts
Golf Course 2016 GC golf carts (3 of 5 yr lease to own)7,000$ 7,000$ -$ -$ -$ -$
Golf Course 2016 GC misc equipment 5,000 5,000 - - - -
Golf Course 2017 GC grills 6,000 - 6,000 - - -
Golf Course 2017 GC add deck to clubhouse 10,000 - 10,000 - - -
Golf Course 2017 GC addition of bocce ball courts 40,000 - 40,000 - - -
Golf Course 2017 GC golf carts (4 of 5 yr lease to own)7,000 - 7,000 - - -
Golf Course 2018 GC irrigation controllers 75,000 - - 75,000 - -
Golf Course 2018 GC golf carts (5 of 5 yr lease to own)7,000 - - 7,000 - -
Golf Course 2019 GC paint clubhouse exterior 10,000 - - - 10,000 -
Golf Course 2020 GC concession area ventilation 10,000 - - - - 10,000
Golf Course 2020 GC cash register 10,000 - - - - 10,000
Golf Course 2020 GC concession equipment 12,000 - - - - 12,000
12,000$ 63,000$ 82,000$ 10,000$ 32,000$
Department
-42-
CITY OF NEW HOPE, MINNESOTA
CAPITAL IMPROVEMENT PLAN - GOLF FUND 9302
STATEMENTS OF CASH FLOWS
2015 2016 2017 2018 2019 2020
Budgeted Budgeted Estimated Estimated Estimated Estimated
CASH FLOWS FROM OPERATING ACTIVITIES
Receipts from customers and users 343,200$ 339,400$ 346,188$ 353,112$ 360,174$ 367,377$
Payments to suppliers and employees (278,510) (307,433) (316,656) (326,156) (335,940) (346,019)
NET CASH PROVIDED (USED)
BY OPERATING ACTIVITIES 64,690 31,967 29,532 26,956 24,234 21,359
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Transfers in - - - - - -
NET CASH PROVIDED (USED) BY
NONCAPITAL FINANCING ACTIVITIES - - - - - -
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES
Acquisition of capital assets (12,000) (12,000) (63,000) (82,000) (10,000) (32,000)
Proceeds from sale of assets - - - - - -
Proceeds from bonds and notes issued - - - - - -
Principal and interest paid on long-term debt - - - - - -
Principal and interest paid on long-term debt - - - - - -
NET CASH USED BY CAPITAL AND RELATED
FINANCING ACTIVITIES (12,000) (12,000) (63,000) (82,000) (10,000) (32,000)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment earnings 1,325 500 1,307 985 445 592
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 54,015 20,467 (32,161) (54,058) 14,679 (10,049)
CASH AND CASH EQUIVALENTS, JANUARY 1 (1)56,224 110,239 130,706 98,545 44,487 59,165
CASH AND CASH EQUIVALENTS, DECEMBER 31 110,239$ 130,706$ 98,545$ 44,487$ 59,165$ 49,116$
(1) December 31, 2014 cash includes cash held in escrow of $500,000 which has restrictions as to use.
Enterprise Fund Projected Activity
-43-
THIS PAGE IS LEFT BLANK
INTENTIONALLY
-44-
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
70.00%
80.00%
90.00%
2015 2016 2017 2018 2019 2020
Tax Rates
Proposed debt levies Scheduled debt levies
Scheduled capital levies Economic Development Authority
General
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
2015 2016 2017 2018 2019 2020
Property Taxes by Type
General Street Infrastructure
Economic Development Authority Park Infrastructure
Scheduled debt levies Proposed debt levies
$-
$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
2014 2015 2016 2017 2018 2019 2020
Projected Debt Balances Based on Current
Amortizations and New Debt Assumed in CIP
G.O. Tax Increment Debt (Gov't)Other Long-term Debt
G.O. Revenue Debt Lease Revenue Bonds
Potential New G.O. Debt G.O. Tax Increment Debt (Bus)
$(5,000,000)
$-
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
2016 2017 2018 2019 2020
Cash Balance by Fund Type
General fund Debt service
Capital projects Enterprise
Special revenue Agency (pass-through grant)
Internal service
-45-