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082123 Work Session Meeting Packet CITY COUNCIL WORK SESSION MEETING New Hope City Hall, 4401 Xylon Avenue North Northwood Conference Room Monday, August 21, 2023 6:00 p.m. - dinner 6:30 p.m. - meeting Mayor Kathi Hemken Council Member John Elder Council Member Andy Hoffe Council Member Michael Isenberg Council Member Jonathan London 1. CALL TO ORDER – August 21, 2023 2. ROLL CALL 11. UNFINISHED & ORGANIZATIONAL BUSINESS 11.1 Update on Tax Increment Finance (TIF) 2023 cash flow projections 11.2 Discuss West Metro Fire-Rescue District 2024 Budget 11.3 Discussion regarding 2024 preliminary budget and tax levy 11.4 Discussion regarding three-year contract renewal with Abdo for professional management services for years 2024-2026 12. OTHER BUSINESS 13. ADJOURNMENT I:\RFA\COMM DEV\2023\Work Session\8‐21‐23 TIF Cash Flow Analysis\Q ‐ WS ‐ Update on TIF Cash Flow 8‐21‐23.docx Request for Action August 21, 2023 Approved by: Reece Bertholf, City Manager Originating Department: Community Development By: Jeff Sargent, Director Agenda Title Update on Tax Increment Finance (TIF) 2023 cash flow projections Requested Action Staff requests to have the city’s TIF consultants provide the City Council with an update on the city’s TIF program and cash flow projections. Representatives from the city’s financial consultant, Abdo, will be in attendance for the presentation. Policy/Past Practice It is a staff past practice to provide occasional updates to the Council on existing TIF programs/funding and to have the consultants provide recommendations on the activities necessitated by changes in TIF regulations and applicable timelines. Background This is the annual update to the Council regarding the city’s use of TIF. The consultants are present to update the Council on the city’s overall TIF program, proposed amendments to the existing program and answer questions on how TIF might be used to assist in future redevelopment efforts. Attachments  2023 Cash Flows Projections (TIF) Agenda Section Work Session Item Number 11.1 2023 Cash Flow Projections City of New Hope New Hope, Minnesota Updated August 21, 2023 City of New Hope, Minnesota 2023 Cash Flow Projections Table of Contents Page No. Introductory Section Executive Summary 3 Market Value Overview 4 Available Development Resources: EDA and Districts 5 EDA Future Costs and Revenues 6 Cash Balances 7 TIF Districts Pre-90 Districts 9 Administrative Fees 10 Other Key Highlights 10 City of New Hope Program Overview 11 Financial Section TIF Districts TIF District Index 85-1 Elderly Apartments (Project #6) 12 85-2 42nd Ave (Project #8) 13 86-1 36th Ave Apartments (Project #7) 14 03-1 Ryland/East Winnetka /CVS 15 04-1 Old Frank's Nursery Site 17 04-2 PPL (Boone Ave) 19 11-1 Bass Lake Road Apartments 21 1615 Compass Pointe Housing 23 1616 Centra Homes 25 1617 City Center 27 1618 Industrial Equities 29 1619 Good Samaritan 31 Economic Development Authority Fund 33 HRA Construction Fund 35 HRA Bond Fund 36 Other Schedules Assumptions 37 Interfund Loan Schedule 38 Revenue Notes 41 2 Market Value Overview By using tax increment as an economic development tool, total market value within the TIF Districts has increased $234,054,065. Below is a summary of the increase for each active district. 3-1 Ryland/East Winnetka/CVS $42,760,950 Increase 4-1 Olf Frank's Nursery Site $10,482,000 Increase 4-2 PPL (Boone Ave) $12,735,000 Increase 11-1 Bass Lake Road Apartments $45,870,000 Increase Compass Pointe Housing $11,502,000 Increase Centra Homes $24,781,000 Increase City Center $16,444,000 Increase Industrial Equities $5,000,000 Increase Good Samartian $3,560,000 Increase 3 Executive Summary We have updated the development funds and cash flow analysis for the City of New Hope, Minnesota (the City). Assumptions are used throughout the report. Detail of the assumptions used can be found on the Assumptions page in the exhibits section. The following is a summary of the City’s active TIF Districts available cash, outstanding obligations and projected cash remaining at the end of each District’s life: Cash Outstanding Available Cash Available Name Required Projected (3)Balance Obligation(1)Pooling Balance Pooling Active Districts 03-1 Ryland/East Winnetka /CVS 2031 2025 2,208,924$ 745,904$ 1,294,947$ 1,447,785$ 1,447,785$ 04-1 Old Frank's Nursery Site 2031 2031 (255,354) 680,827 - 175,159 175,159 04-2 PPL (Boone Ave)2032 2032 (116,159) 968,105 - (14,829) - 11-1 Bass Lake Road Apartments 2044 2044 (2,249,484) 12,220,447 - 531,044 531,044 1615 Compass Pointe Housing 2041 2031 (73,493) 839,154 - 97,929 99,780 (2) 1616 Centra Homes 2043 2027 (1,021,005) 1,119,004 - 241,059 241,059 1617 City Center 2042 2042 (2,139,737) 5,257,077 - (0) (0) 1618 Industrial Equities 2033 2027 30,064 272,274 - 57,684 - 1619 Good Samaritan 2044 2029 27,187 553,541 - 583,463 583,463 (2) Total Active Districts (3,589,056)$ 22,656,333$ 1,294,947$ 3,119,294$ 3,078,289$ (1) Outstanding obligations include projected future bond, pay-as-you-go note and interfund loan and principal and interest payments. (2) Restricted for development that is intended for occupancy, in part, by low- and moderate-income individuals, as defined under a federal, state, or municipal law. (3) Districts are expected to be decertified after all outstanding obligations have been satisfied. Projected at TerminationAs of December 31, 2022 TIF # District Termination Year The following is a summary of the City’s inactive TIF Districts available cash and outstanding loans: Available Name Termination Cash Loans Pooling Inactive Districts 85-1 Elderly Apartments (Project #6)2012 438,532$ 385,967$ 438,532$ 85-2 42nd Ave (Project #8)2012 2,668,821 1,609,069 2,668,821 86-1 36th Ave Apartments (Project #7)2014 192,213 2,841,613 192,213 Total Inactive Districts 3,299,566$ 4,836,649$ 3,299,566$ 4 Available Development Resources: EDA and Districts $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Available Cash for Development Districts EDA Comparative EDA (Without HRA Levy) Note: The EDA tax levy included in the above cash balance is expected to increase five percent annually. Source •Tax Increment received •Interfund Loan Interest Uses •Scattered Site Housing (Land aquisition and demolition costs) •Developer Loans Limits •Restricted •Limited Source District Funds Source •Tax Levy •Interfund Loan Interest Uses •Operations (Payroll, adminstration services) •Scattered Site Housing (General Development) Limits •Tax Levy limit •Cash Needed for Operations EDA Funds 5 Economic Development Authority (EDA): Future Costs and Revenues The EDA budget includes a significant amount of payroll and other operating costs and is also used to fund development needs through the scattered site housing program. Below is the projection of operating and scattered site housing costs over the next five years. $- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 2022 2023 2024 2025 2026 EDA General Fund Costs (Actual 2022, Projected 2023 -2026) Payroll Other operating Scattered Site Program • The Scattered Site Housing Program has a target annual investment of $500,000. • Other Operating Costs include utilities, repair and maintenance costs, equipment and other capital purchases and professional service charges. Operating costs and payroll are expected to increase 5% annually and the EDA tax levy is expected to increase 5% annually. Below is the projection of total costs compared to revenues. $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 EDA General Fund Revenues & Costs Total Costs Revenues (Tax Levy + Interest) Revenues consists mostly of taxes and interest received from investments and interfund loans. The EDA had previously received partial funding for the Scattered Site Program through Community Development Block Grants (CDBG), but consistent CDBG funding has not been received since 2017. 6 Economic Development Authority (EDA): Cash Balances $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 EDA Cash Flow (Next 10 Years) + Interfund Loan Repayments + Operating Receipts (Tax Levy + Interest) - Operating Costs - Scattered Site Program $- $750,000 $1,500,000 $2,250,000 $3,000,000 $3,750,000 $4,500,000 $5,250,000 $6,000,000 2022 2023 2024 2025 2026 2027 2032 2037 2042 EDA Cash Balances (Next 5 Years and 5 year increments to 2040) Cash Balance Minimum Cash Reserve 50% Operating Costs $250,000 Development Reserve Target Minimum Cash Reserve 7 Economic Development Authority (EDA): Cash Balances (Continued) To ensure sufficient cash balances are available for operations and development funding, we recommend a minimum cash reserve of 50% of next year’s anticipated operating costs and $250,000 for future development costs. Over the next five years, the cash balance is expected to increase with the repayment of the Centra Homes interfund loan. Once this interfund loan is repaid, the cash balance will begin to decrease, largely due to ongoing support of the City’s Scattered Site Housing Program and expected increases in operating costs. The Scattered Site Housing Program is expected to need more City support as funding from Community Development Block Grants decreases. To improve the EDA’s cash position, the following opportunities should be considered: • Utilize available district funds to support the scattered site housing program. • Review payroll cost allocations and payroll documentation procedures for reallocation of TIF related payroll expenses to the related districts 8 TIF Districts: Pre-90 Districts In the development accounts, $4,090,983 is available to be spent (pooled) anywhere in the City’s project area for TIF eligible costs. As of December 31, 2022, estimated pooled resources are available in the following districts: • Elderly Apartments (85-1) - $438,532 • 42nd Avenue (85-2) - $2,668,821 • 36th Ave Apartments (86-2) - $192,213 • Ryland/East Winnetka/CVS (3-1) - $1,294,947 In addition to the available cash, these districts have made interfund loans to other TIF Districts totaling $5,023,738 . As the interfund loans are repaid, cash available for pooling will increase. The below chart illustrates restricted cash, available cash for pooling and interfund receivables, for these districts as a whole, over the next ten years. $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 Districts with Available Pooling -Cash Balance Cash available for pooling Interfund Receivable Suggested uses for the pooled resources include the following: • Scattered site housing program, specifically demolition and land purchases. • TIF eligible costs; including land acquisition costs, demolition and environmental remediation costs and, on a limited basis, eliminating deficit balances in other TIF Districts. • Other initiates determined by the EDA’s strategic plan 9 TIF Districts: Administrative Fees Through 2021, administrative fees charged to the combined active TIF Districts were about eight percent of TIF revenues collected. TIF Districts are allowed to charge up to ten percent for allowable administrative costs. Non captured administrative costs total about $500,000. Currently, administrative fees being charged to the Districts include professional service billings, county processing fees and publishing costs. To fully capture administrative costs associated with each district, EDA staff time and other internal resources used on TIF projects should be charged to the related districts. Going forward, an annual transfer from the combined TIF Districts of $80,000 to $100,000 could be made to reimburse the EDA fund for admin costs. To ensure proper reimbursement documentation exists, the City should consider the following recommendations: • Employee timecards should identify time spent working on TIF Districts or related projects, specifically stating the TIF District or project. • When deposits are received and planning is started, costs incurred as part of the development process should be charged to the related TIF District. TIF Districts: Other Key Highlights • Interfund loans are recorded in most TIF Districts to either cover cash deficits or record costs associated with the purchase and sale of redevelopment property. See page 37 for a detailed schedule of the projected interfund loan balances. • Future Projects – The cash flow analysis has been updated with project activity that has occurred to-date. We have not included project expenses for the year 2024 and thereafter. Please keep this in mind when reviewing the projected cash balances. • Pre-90 Districts have begun generating excess increment and a portion of the interest earned through interfund loans will be remitted annually to the county for redistribution. We would be pleased to further discuss any of the information contained in this memo or any other concerns that you would like us to address. We would also like to express our thanks for the courtesy and assistance extended to us by City staff during the course of our services. 10 Type Name Development Creation Termination Existing TIF Districts 85-1 Redevelopment Elderly Apartments (Project #6)Apartments 1985 2012 85-2 Redevelopment 42nd Ave (Project #8)Apartments & Commercial 1985 2012 86-1 Redevelopment 36th Ave Apartments (Project #7)Apartments 1986 2014 03-1 Redevelopment Ryland/East Winnetka /CVS 175 Townhomes, CVS Pharmacy 2003 2031 04-1 Redevelopment Old Frank's Nursery Site Winnetka Townhomes - 44 units 2004 2031 04-2 Housing PPL (Boone Ave)Apartments & 44 condos 2004 2032 11-1 Redevelopment Bass Lake Road Apartments Planned for Housing 2011 2040 1615 Housing Compass Pointe Housing 68-Unit Affordable Housing 2014 2041 1616 Redevelopment Centra Homes 34 Single Family Homes & 27 Townhomes 2014 2043 1617 Redevelopment City Center Commercial & Multi-Family Housing 2015 2042 1618 Renewal and Renovation Industrial Equities Commercial & Multi-Family Housing 2016 2033 1619 Housing Good Samaritan Apartments 2017 2044 TIF # City of New Hope, Minnesota New Hope Program Overview 11 City of New Hope, Minnesota TIF District #85-1 (Funds 9112(closed), 9213) Elderly Apartments (Proj. #6) Redevelopment District 1605 1985 - 12/31/2012 TIF Plan Totals 2012 Modified Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 3,000,000$ 2,722,903$ 2,722,903$ -$ -$ -$ -$ -$ Bond proceeds 400,000 407,750 407,750 - - - - - Investment earnings *300,000 167,686 167,686 - - - - - Sales/lease proceeds - 370,096 370,096 - - - - - Other revenues - 325,747 75,014 13,429 13,466 13,467 13,467 13,467 Annual revenues 3,700,000 3,994,182 3,743,449 13,429 13,466 13,467 13,467 13,467 Expenses Land & bldg acq. and site improvements 1,250,000 1,223,545 1,223,545 - - - - - Interest reduction - 633,104 633,104 - - - - - Bond principal 400,000 499,236 499,236 - - - - - Bond interest 750,000 251,337 251,337 - - - - - Interest expense - 48,981 48,981 - - - - - Admin fees - City/EDA 300,000 298,689 296,423 573 543 - 550 600 Admin Adjustment - - - - - - - - Other expenses 1,000,000 5,570 5,570 - - - - - Tax increment returned to the County - 102,994 - - - - 89,528 13,467 Annual expenses 3,700,000 3,063,456 2,958,196 573 543 - 90,078 14,067 Annual increase/decrease - 930,726 785,253 12,856 12,923 13,467 (76,611) (600) Ending fund balance -$ 930,726$ 785,253$ 798,109$ 811,032$ 824,499$ 747,888$ 747,288$ Excess increment generated 322,131$ 35,699$ 13,429$ 13,466$ 13,467$ 13,467$ 13,467$ Cash balances (exluding interfund loans)785,253$ 798,109$ 811,032$ 824,499$ 747,888$ 747,288$ Cash balances (including interfund loans)410,452 423,762 433,753 438,532$ 365,599 368,558 Loan to City Center 374,801 374,347 377,279 385,967 382,289 378,730 *interest earnings (on beg of yr balance)0.00%0.00%0.00%N/A N/A Administrative fees (based on non-admin expenses)10.80%11.14%N/A N/A N/A N/A N/A Original market value N/A N/A N/A N/A N/A N/A Original tax capacity N/A N/A N/A N/A N/A N/A Total market value N/A N/A N/A N/A N/A N/A Estimated tax capacity N/A N/A N/A N/A N/A N/A Captured tax capacity N/A N/A N/A N/A N/A N/A Prior Year Notes: - Other revenues of $18,170 and transfers in of $89,052 identified as unspent and were returned to the EDA fund in 2012. Revised land sale proceeds of $200,000 were returned to the EDA in 2015. - $343,322 in project costs for the K-Mart Project were originally paid out of District 86-1, with the intent to be reimbursed once the City Center district was set-up. A transfer occurred in 2017 to reimburse District 85-1 from the City Center District. Due to the reimbursement, interfund loan interest has been adjusted. - A transfer of $25,751 will occur in 2017 to correct the 2015 miscoding of tax increment returned to the county. Cash was erroneously paid out of 85-1 instead of 85-2. Projected 12 City of New Hope, Minnesota TIF District #85-2 (Funds 9114(closed), 9215) 42nd Ave (proj. 8) Redevelopment District 1606 1985 - 12/31/2012 TIF Plan Totals 2012 Modified Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 12,000,000$ 9,511,786$ 9,511,786$ -$ -$ -$ -$ -$ Market value homestead credit - 2,207 2,207 - - - - - Bond proceeds 3,000,000 2,356,501 2,356,501 - - - - - Investment earnings *1,200,000 1,132,945 1,132,945 - - - - - Sales/lease proceeds 800,000 3,041,570 3,041,570 - - - - - Non-tax increment revenues - Grants - 227,652 227,652 - - - - - Other revenues - 1,803,582 747,404 55,003 56,122 56,477 56,561 56,645 Annual revenues 17,000,000 18,076,243 17,020,065 55,003 56,122 56,477 56,561 56,645 Expenses Land & bldg acq. and site improvements 9,000,000 7,802,373 7,802,373 - - - - - Bond principal 3,000,000 3,070,923 3,070,923 - - - - - Bond interest 1,000,000 729,776 729,776 - - - - - Admin fees - City/EDA 1,272,727 737,462 735,168 543 551 - 600 600 Other expenses 2,727,273 16,328 16,328 - - - - - Transfers out - 521,079 521,079 - - - - - Tax increment returned to the County - 777,722 33,036 - - - - - Annual expenses 17,000,000 13,655,663 12,908,683 543 551 - 600 600 Annual increase/decrease - 4,420,580 4,111,382 54,460 55,571 56,477 55,961 56,045 Ending fund balance -$ 4,420,580$ 4,111,382$ 4,165,842$ 4,221,413$ 4,277,890$ 4,333,851$ 4,389,896$ Excess increment generated 744,686$ -$ -$ -$ -$ -$ -$ Cash balances (exluding interfund loans)4,111,382$ 4,165,842$ 4,221,413$ 4,277,890$ 4,333,851$ 4,389,896$ Cash balances (including interfund loans)2,549,625 2,606,908 2,648,899 2,668,821$ 2,737,289 2,805,280 Loan to 11-1 72,904 73,951 75,900 77,993 80,076 82,248 Loan to City Center 1,488,853 1,484,983 1,496,614 1,531,076 1,516,486 1,502,368 *interest earnings (on beg of yr balance)0.00%0.00%0.00%N/A N/A Administrative fees 7.75%7.73%N/A N/A N/A N/A N/A Original market value 15,702,100 N/A N/A N/A N/A N/A Original tax capacity 241,814 N/A N/A N/A N/A N/A Total market value 41,977,900 N/A N/A N/A N/A N/A Estimated tax capacity 707,058 N/A N/A N/A N/A N/A Captured tax capacity 429,882 N/A N/A N/A N/A N/A Prior Year Notes: -Transfers in of 500,002 identified as unspent and were returned to the EDA fund in 2012. Revised land sale proceeds of $595,299 were returned to the EDA in 2015. - $1,361,910 in project costs for the K-Mart Project were originally paid out of District 86-1, with the intent to be reimbursed once the City Center district was set-up. A transfer occurred in 2017 to reimburse District 85-2 from the City Center District. Due to the reimbursement, interfund loan interest has been adjusted. Projected 13 City of New Hope, Minnesota TIF District #86-1 (Funds 9113(closed), 9214) 36th ave Apartments Redevelopment District 1607 1986 - 12/31/2014 TIF Plan Totals 2012 Modified Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 8,000,000$ 5,322,700$ 5,322,700$ -$ -$ -$ -$ -$ Bond proceeds 6,800,000 1,734,229 1,734,229 - - - - - Investment earnings *800,000 779,050 779,050 - - - - - Sales/lease proceeds - 40,745 40,745 - - - - - Other revenues - 3,072,106 985,382 61,193 92,526 104,031 106,730 109,454 Annual revenues 15,600,000 10,948,830 8,862,106 61,193 92,526 104,031 106,730 109,454 Expenses Land & bldg acq. and site improvements 3,500,000 2,058,095 2,058,095 - - - - - Public park facilities & ice arena 2,000,000 520,000 520,000 - - - - - Bond principal 6,800,000 2,127,390 2,127,390 - - - - - Bond interest 2,000,000 913,158 913,158 - - - - - Admin fees - City/EDA 800,000 456,523 454,780 543 - - 600 600 Other expenses 500,000 7,407 7,407 - - - - - Transfers out - 4,655 4,655 - - - - - Tax increment returned to the County - - - - - - - - Annual expenses 15,600,000 6,087,228 6,085,485 543 - - 600 600 Annual increase/decrease - 4,861,602 2,776,621 60,650 92,526 104,031 106,130 108,854 Ending fund balance -$ 4,861,602$ 2,776,621$ 2,837,271$ 2,929,797$ 3,033,828$ 3,139,958$ 3,248,813$ Excess increment generated -$ -$ -$ -$ -$ -$ -$ Cash balances (exluding interfund loans)2,776,621 2,837,271 2,929,797 3,033,828 3,139,958 3,248,813 Cash balances (including interfund loans)9,933 12,794 116,877 192,213$ 261,708 331,049 Loan to 4-1 265,109 289,413 213,715 171,370 142,089 112,724 Loan to 11-1 2,357,216 2,391,075 2,454,088 2,521,786 2,589,117 2,659,364 Loan to City Center 144,363 143,987 145,115 148,457 147,042 145,673 Total loans to other districts 2,766,688 2,824,476 2,812,918 2,841,613 2,878,248 2,917,761 *interest earnings (on beg of yr balance)0.00%0.00%0.00%N/A N/A Administrative fees 8.58%8.54%N/A N/A N/A N/A N/A Original market value 153,000 N/A N/A N/A N/A N/A Original tax capacity 2,130 N/A N/A N/A N/A N/A Total market value 10,008,000 N/A N/A N/A N/A N/A Estimated tax capacity 125,100 N/A N/A N/A N/A N/A Captured tax capacity 122,970 N/A N/A N/A N/A N/A Prior Year Notes: - Revised land sale proceeds of $64,779 were returned to the EDA in 2015. - $132,054 in project costs for the K-Mart Project were originally paid out of District 86-1, with the intent to be reimbursed once the City Center district was set-up. A transfer occurred in 2017 to reimburse District 86-1 from the City Center District. Due to the reimbursement, interfund loan interest has been adjusted. Projected 14 City of New Hope, Minnesota City of New Hope, Minnesota TIF District #03-1 (Funds 9117, 9217) Ryland/East Winnetka/CVS Redevelopment District 1610 2003 - 12/31/2031 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 24,600,000$ 7,848,192$ 4,831,980$ 471,381$ 500,984$ 515,452$ 509,465$ 509,465$ Market value homestead credit - 110,359 110,359 - - - - - Bond proceeds 11,187,500 6,097,500 6,097,500 - - - - - Investment earnings *2,460,000 386,194 307,116 - - - 23,960 26,371 Sales/lease proceeds 2,600,000 787,500 787,500 - - - - - Non-tax increment revenues Other revenues (including bond premium)- 163,141 163,141 - - - - - Transfers in 1,160,000 - - - - - - - Annual revenues 42,007,500 15,392,886 12,297,596 471,381 500,984 515,452 533,425 535,836 Expenses Land & bldg acq. and site improvements 10,000,000 4,275,204 4,275,204 - - - - - Bond principal 11,187,500 6,097,500 4,698,000 225,000 225,000 229,500 234,000 238,500 Bond interest 8,362,500 1,383,708 1,287,589 27,920 23,420 18,875 14,065 8,807 Debt service - rev. notes 6,712,500 - - - - - - - Interest expense - 4 4 - - - - - Admin fees - City/EDA (includes issuance costs)2,460,000 514,263 350,810 3,389 3,620 3,603 50,947 50,947 Admin adjustment - - - - - - - - Other expenses (includes county admin fees)- 10,766 10,766 - - - - - Transfers out 3,285,000 - - - - - - - Tax increment returned to the County - 1,663,656 - - - - - - Annual expenses 42,007,500 13,945,101 10,622,373 256,309 252,040 251,978 299,012 298,254 Annual increase/decrease - 1,447,785 1,675,223 215,072 248,944 263,474 234,413 237,582 Ending fund balance -$ 1,447,785$ 1,675,223$ 1,890,295$ 2,139,239$ 2,402,713$ 2,637,126$ 2,874,708$ Less next years debt service (including interfund loan)- - 252,920 248,420 248,375 248,065 247,307 250,532 Fund balance available -$ 1,447,785$ 1,422,303$ 1,641,875$ 1,890,864$ 2,154,648$ 2,389,819$ 2,624,176$ Cash balances (exluding interfund loans)1,680,227$ 1,885,065$ 2,132,859$ 2,396,013$ 2,637,126$ 2,874,708$ Cash balances (including interfund loans)1,441,316 1,635,198 1,929,101 2,208,924 2,431,845 2,662,352 Loan to 4-1 (1)103,971 113,423 83,984 83,984 83,984 83,984 Loan to 4-2 (1)134,940 136,444 119,774 103,105 121,297 128,372 *interest earnings (on beg of yr balance)0.00%0.00%0.00%1.00%1.00% Administrative fees 6.46%7.10%0.72%0.72%0.70%10.00%10.00% Original market value 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 Original tax capacity 39,856 39,856 39,856 39,856 39,856 39,856 Total market value 34,693,000 35,465,000 37,819,700 45,636,650 45,636,650 45,636,650 Estimated tax capacity 347,626 355,446 378,499 456,375 408,475 408,475 Captured tax capacity 307,770 315,590 338,643 416,519 368,619 368,619 (1)Loans reported to cover negative cash balances in noted districts. Prior Year Notes: -In 2017, it was determined that $2,189,845 in land expense and a related interfund loan, originally recorded in 2008/2009 for the purchase of the Bass Lake Road Apartments, was related to parcels located within district 11-1. The land expense, interfund loan and related interest expense have been reclassified to district 11-1, resulting in an increase in cash of $1,289,060. Projected 15 City of New Hope, Minnesota TIF District #03-1 (Funds 9117, 9217) (Continued) Ryland/East Winnetka/CVS Redevelopment District 1610 2003 - 12/31/2031 2025 2026 2027 2028 2029 2030 2031 2032 Revenues Tax increment 509,465$ -$ -$ -$ -$ -$ -$ -$ Market value homestead credit - - - - - - - - Bond proceeds - - - - - - - - Investment earnings *28,747 - - - - - - - Sales/lease proceeds - - - - - - - - Non-tax increment revenues Other revenues (including bond premium)- - - - - - - - Transfers in - - - - - - - - Annual revenues 538,212 - - - - - - - Expenses Land & bldg acq. and site improvements - - - - - - - - Bond principal 247,500 - - - - - - - Bond interest 3,032 - - - - - - - Debt service - rev. notes - - - - - - - - Interest expense - - - - - - - - Admin fees - City/EDA (includes issuance costs)50,947 - - - - - - - Admin adjustment - - - - - - - - Other expenses (includes county admin fees)- - - - - - - - Transfers out - - - - - - - - Tax increment returned to the County - 1,663,656 - - - - - - Annual expenses 301,479 1,663,656 - - - - - - Annual increase/decrease 236,733 (1,663,656) - - - - - - Ending fund balance 3,111,441$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ Less next years debt service (including interfund loan)- - - - - - - - Fund balance available 3,111,441$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ - Cash balances (exluding interfund loans)3,111,441$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ 1,447,785$ Cash balances (including interfund loans)2,890,414 1,221,744 1,240,656 1,292,861 1,295,403 1,302,495 1,319,121 1,432,956 Loan to 4-1 (1)83,984 83,984 54,013 - - - - - Loan to 4-2 (1)137,043 142,057 153,116 154,924 152,382 145,290 128,664 14,829 *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 2,875,700 Original tax capacity 39,856 39,856 39,856 39,856 39,856 39,856 39,856 39,856 Total market value 45,636,650 45,636,650 45,636,650 45,636,650 45,636,650 45,636,650 45,636,650 45,636,650 Estimated tax capacity 408,475 408,475 408,475 408,475 408,475 408,475 408,475 408,475 Captured tax capacity 368,619 368,619 368,619 368,619 368,619 368,619 368,619 368,619 (1)Loans reported to cover negative cash balances in noted districts. Projected (Continued) 16 City of New Hope, Minnesota City of New Hope, Minnesota TIF District #04-1 (Funds 9118, 9218) Old Frank's Nursery Site Redevelopment District 1611 2004 - 12/31/2031 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 6,000,000$ 2,109,575$ 863,215$ 96,414$ 102,512$ 108,761$ 104,297$ 104,297$ Market value homestead credit - 12,165 12,165 - - - - - Bond proceeds 2,687,500 677,500 677,500 - - - - - Investment earnings *600,000 11,688 9,892 - - - - - Non-tax increment revenues - Grants - 5,000 5,000 - - - - - Other revenues (including bond premium)- 5,400 5,400 - - - - - Annual revenues 9,287,500 2,821,328 1,573,172 96,414 102,512 108,761 104,297 104,297 Expenses Land & bldg acq. and site improvements 2,150,000 892,793 892,793 - - - - - Bond principal 2,687,500 677,500 522,000 25,000 25,000 25,500 26,000 26,500 Bond interest 1,612,500 175,183 164,503 3,102 2,602 2,097 1,563 979 Debt service - rev. notes 1,612,500 728,445 278,585 33,320 35,879 38,066 38,066 38,066 Interest expense - - - - - - - - Admin fees - City/EDA (includes issuance costs)600,000 163,628 75,751 1,126 1,514 755 9,387 9,387 Other expenses (includes county admin fees)- 8,620 8,620 - - - - - Transfers out 625,000 - - - - - - - Tax increment returned to the County - - - - - - - - Annual expenses 9,287,500 2,646,169 1,942,252 62,548 64,995 66,418 75,016 74,932 Annual increase/decrease - 175,159 (369,080) 33,866 37,517 42,343 29,281 29,365 Ending fund balance -$ 175,159$ (369,080)$ (335,214)$ (297,697)$ (255,354)$ (226,073)$ (196,708)$ Less next years debt service (including interfund loan)- - 28,102 27,602 27,597 27,563 27,479 65,903 Fund balance available -$ 175,159$ (397,182)$ (362,816)$ (325,294)$ (282,917)$ (253,552)$ (262,611)$ Cash balances (excluding cashflow loans)(369,080)$ (335,214)$ (297,697)$ (255,354)$ (226,073)$ (196,708)$ Cash balances (including cashflow loans)- 65,752 2 (2) - - Loan from 3-1 (max $150K) (1) 103,971 113,423 83,984 83,984 83,984 83,984 Loan from 86-1 (max $500K) (1)265,109 289,413 213,715 171,370 142,089 112,724 *interest earnings (on beg of yr balance)0.00%0.00%0.00%1.00%1.00% Administrative fees 7.71%8.65%1.17%1.48%0.69%9.00%9.00% Original market value 750,000 750,000 750,000 750,000 750,000 750,000 Original tax capacity 12,290 12,290 12,290 12,290 12,290 12,290 Total market value 7,866,000 8,540,000 8,840,000 11,232,375 11,232,375 11,232,375 Estimated tax capacity 73,094 79,607 82,302 112,319 87,753 87,753 Captured tax capacity 60,804 67,317 70,012 100,029 75,463 75,463 (1)Loan reported to cover negative cash balance. Prior Year Notes: - In 2017, it was determined that $243,315 in land expense and a related interfund loan, originally recorded in 2008/2009 for the purchase of the Bass Lake Road Apartments, was related to parcels located within district 11-1. The land expense, interfund loan and related interest expense have been reclassified to district 11-1, resulting in an increase in cash of $143,229. Projected 17 City of New Hope, Minnesota TIF District #04-1 (Funds 9118, 9218) (Continued) Old Frank's Nursery Site Redevelopment District 1611 2004 - 12/31/2031 2025 2026 2027 2028 2029 2030 2031 2032 Revenues Tax increment 104,297$ 104,297$ 104,297$ 104,297$ 104,297$ 104,297$ 104,297$ -$ Market value homestead credit - - - - - - - - Bond proceeds - - - - - - - - Investment earnings *- - - - 28 597 1,171 - Non-tax increment revenues Grants - - - - - - - - Other revenues (including bond premium)- - - - - - - - Annual revenues 104,297 104,297 104,297 104,297 104,325 104,894 105,468 - Expenses Land & bldg acq. and site improvements - - - - - - - - Bond principal 27,500 - - - - - - - Bond interest 337 - - - - - - - Debt service - rev. notes 38,066 38,066 38,066 38,066 38,066 38,066 38,066 - Interest expense - - - - - - - - Admin fees - City/EDA (includes issuance costs)9,387 9,387 9,387 9,387 9,387 9,387 9,387 - Other expenses - - - - - - - - Transfers out - - - - - - - - Tax increment returned to the County - - - - - - - - Annual expenses 75,290 47,453 47,453 47,453 47,453 47,453 47,453 - Annual increase/decrease 29,007 56,844 56,844 56,844 56,872 57,441 58,015 - Ending fund balance (167,701)$ (110,857)$ (54,013)$ 2,831$ 59,703$ 117,144$ 175,159$ 175,159 Less next years debt service (including interfund loan)27,837 - - - - - - - Fund balance available (195,538)$ (110,857)$ (54,013)$ 2,831$ 59,703$ 117,144$ 175,159$ 175,159 Cash balances (excluding cashflow loans)(167,701)$ (110,857)$ (54,013)$ 2,831$ 59,703$ 117,144$ 175,159$ 175,159$ Cash balances (including cashflow loans)- - - 2,831 59,703 117,144 175,159 175,159 Loan from 3-1 (1)83,984 83,984 54,013 - - - - - Loan from 86-1 (1)83,717 26,873 - - - - - - *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 9.00%9.00%9.00%9.00%9.00%9.00%9.00%9.00% Original market value 750,000 750,000 750,000 750,000 750,000 750,000 750,000 750,000 Original tax capacity 12,290 12,290 12,290 12,290 12,290 12,290 12,290 12,290 Total market value 11,232,375 11,232,375 11,232,375 11,232,375 11,232,375 11,232,375 11,232,375 11,232,375 Estimated tax capacity 87,753 87,753 87,753 87,753 87,753 87,753 87,753 87,753 Captured tax capacity 75,463 75,463 75,463 75,463 75,463 75,463 75,463 75,463 (1)Loan reported to cover negative cash balance. Projected (Continued) 18 City of New Hope, Minnesota City of New Hope, Minnesota TIF District #04-2 (Funds 9119, 9219) PPL (Boone Avenue) Housing District 1612 2004 - 12/31/2032 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 6,000,000$ 2,459,979$ 959,053$ 111,811$ 114,556$ 116,209$ 115,835$ 115,835$ Market value homestead credit - 15,807 15,807 - - - - - Bond proceeds 2,625,000 2,700,000 2,700,000 - - - - - Investment earnings *600,000 51,628 51,628 - - - - - Non-tax increment revenues - Transfers in 150,000 300,000 300,000 - - - - - Annual revenues 9,375,000 5,527,414 4,026,488 111,811 114,556 116,209 115,835 115,835 Expenses Land & bldg acq. and site improvements 1,400,000 1,321,213 1,321,213 - - - - - Public park facilities & ice arena 700,000 - - - - - - - Bond principal 2,625,000 2,700,000 1,635,000 60,000 65,000 75,000 85,000 90,000 Bond interest 1,575,000 1,314,763 1,027,063 40,410 38,685 36,585 33,973 30,910 Debt service - rev. notes 1,575,000 - - - - - - - Admin fees - City/EDA (includes issuance costs)600,000 200,118 172,003 2,668 2,972 2,475 2,000 2,000 Other expenses (includes county admin fees)- 6,149 6,149 - - - - - Transfers out 900,000 - - - - - - - Annual expenses 9,375,000 5,542,243 4,161,428 103,078 106,657 114,060 120,973 122,910 Annual increase/decrease - (14,829) (134,940) 8,733 7,899 2,149 (5,138) (7,075) Ending fund balance -$ (14,829)$ (134,940)$ (126,207)$ (118,308)$ (116,159)$ (121,297)$ (128,372)$ Less next years debt service - - 100,410 103,685 111,585 118,973 120,910 122,506 Fund balance available -$ (14,829)$ (235,350)$ (229,892)$ (229,893)$ (235,132)$ (242,207)$ (250,878)$ Cash balances (exluding interfund loans)(134,940)$ (126,207)$ (116,842)$ (116,159)$ (121,297)$ (128,372)$ Cash balances (including interfund loans)2,932 (13,122) - - Loan from 3-1 134,940 - 10,298 136,444 119,774 103,105 121,297 128,372 *interest earnings (on beg of yr balance)0.00%0.00%0.00%1.00%1.00% Administrative fees 8.08%17.64%2.39%2.59%2.13%10.00%10.00% Original market value 381,100 381,100 381,100 381,100 381,100 381,100 Original tax capacity 4,166 4,166 4,166 4,166 4,166 4,166 Total market value 10,150,000 11,110,000 11,502,000 13,116,280 13,116,280 13,116,280 Estimated tax capacity 76,093 87,267 92,006 104,299 94,790 94,790 Captured tax capacity 71,927 83,101 87,840 100,133 90,624 90,624 Prior Year Notes: -$300,000 transfer in 2011 approved by Council from TIF District 85-2. Projected 19 City of New Hope, Minnesota TIF District #04-2 (Funds 9119, 9219) (Continued) PPL (Boone Avenue) Housing District 1612 2004 - 12/31/2032 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues Tax increment 115,835$ 115,835$ 115,835$ 115,835$ 115,835$ 115,835$ 115,835$ 115,835$ -$ Market value homestead credit - - - - - - - - - Bond proceeds - - - - - - - - - Investment earnings *- - - - - - - - - Non-tax increment revenues Transfers in - - - - - - - - - Annual revenues 115,835 115,835 115,835 115,835 115,835 115,835 115,835 115,835 - Expenses Land & bldg acq. and site improvements - - - - - - - - - Public park facilities & ice arena - - - - - - - - - Bond principal 95,000 95,000 105,000 100,000 100,000 100,000 95,000 - - Bond interest 27,506 23,849 19,894 15,643 11,293 6,743 2,209 - - Debt service - rev. notes - - - - - - - - - Admin fees - City/EDA (includes issuance costs)2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 - Other expenses - - - - - - - - - Transfers out - - - - - - - - - Annual expenses 124,506 120,849 126,894 117,643 113,293 108,743 99,209 2,000 - Annual increase/decrease (8,671) (5,014) (11,059) (1,808) 2,542 7,092 16,626 113,835 - Ending fund balance (137,043)$ (142,057)$ (153,116)$ (154,924)$ (152,382)$ (145,290)$ (128,664)$ (14,829)$ (14,829) Less next years debt service (including interfund loan)118,849 124,894 115,643 111,293 106,743 97,209 - - - Fund balance available (255,892)$ (266,951)$ (268,759)$ (266,217)$ (259,125)$ (242,499)$ (128,664)$ (14,829)$ (14,829) Cash balances (exluding interfund loans)(137,043)$ (142,057)$ (153,116)$ (154,924)$ (152,382)$ (145,290)$ (128,664)$ (14,829)$ (14,829)$ Cash balances (including interfund loans)- - - - - - - - - Loan from 3-1 137,043 142,057 153,116 154,924 152,382 145,290 128,664 14,829 14,829 *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 381,100 381,100 381,100 381,100 381,100 381,100 381,100 381,100 381,100 Original tax capacity 4,166 4,166 4,166 4,166 4,166 4,166 4,166 4,166 4,166 Total market value 13,116,280 13,116,280 13,116,280 13,116,280 13,116,280 13,116,280 13,116,280 13,116,280 13,116,280 Estimated tax capacity 94,790 94,790 94,790 94,790 94,790 94,790 94,790 94,790 94,790 Captured tax capacity 90,624 90,624 90,624 90,624 90,624 90,624 90,624 90,624 90,624 Projected (Continued) 20 City of New Hope, Minnesota City of New Hope, Minnesota TIF District #11-1 (Fund 9220, 9225) Bass Lake Road Apartments Redevelopment District 1614 2011 - 12/31/2044 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 10,300,000$ 14,240,574$ 434$ 457,090$ 606,341$ 739,513$ 731,600$ 731,600$ Bond proceeds 7,500,000 - - - - - - - Investment earnings *1,030,000 (927) (927) - - - - - Sales/lease proceeds - 1,443,000 1,443,000 - - - - - Annual revenues 18,830,000 15,682,647 1,442,507 457,090 606,341 739,513 731,600 731,600 Expenses Land & bldg acq. and site improvements 5,000,000 2,858,214 2,828,072 30,142 - - - - Public park facilities & ice arena 1,000,000 - - - - - - - Bond principal 7,500,000 - - - - - - - Bond interest 2,150,000 - - - - - - - Debt service - rev. notes - 9,180,074 - 217,118 505,130 639,281 698,779 695,020 Interest expense 2,150,000 2,986,133 934,266 57,760 90,047 101,938 104,691 107,500 Admin fees - City/EDA 1,030,000 124,205 77,170 6,917 1,858 2,259 1,500 1,500 Other expenses (includes county admin fees)- 2,977 2,977 - - - - - Annual expenses 18,830,000 15,151,603 3,842,485 311,937 597,035 743,478 804,970 804,019 Annual increase/decrease - 531,044 (2,399,978) 145,153 9,306 (3,965) (73,370) (72,420) Ending fund balance -$ 531,044$ (2,399,978)$ (2,254,825)$ (2,245,519)$ (2,249,484)$ (2,322,854)$ (2,395,274)$ Cash balances (excluding interfund loans)(2,430,120)$ (2,254,825)$ (2,245,519)$ (2,249,484)$ (2,322,854)$ (2,395,274)$ Cash balances (including interfund loans)- 210,201 284,469 350,295 346,339 346,339 Loan from EDA / 85-2 / 86-1 (max $4 Million) 2,430,120 2,465,026 2,529,988 2,599,780 2,669,193 2,741,613 *interest earnings (on beg of yr balance)0.00%0.00%0.00%0.00%0.00% Administrative fees 0.00%0.00%0.00%0.00%$1,500 $1,500 Original market value - 3,280,000 3,280,000 3,280,000 3,280,000 Original tax capacity - 22,875 22,875 22,875 22,875 Total market value 28,200,000 28,200,000 49,150,000 49,150,000 49,150,000 Estimated tax capacity 23,188 352,500 614,375 614,375 614,375 Captured tax capacity 23,188 329,625 591,500 591,500 591,500 (1)Loans reported to cover negative cash balances in noted districts. Prior Year Notes: - In 2019, the interfund loan from the EDA was reclassified to Districts 85-2 / 86-1. - The loan from 3-1 was paid back in 2017 and combined with the loan from the EDA. - In 2017, it was determined that $2,433,161 in land expense and a related interfund loan, originally recorded in 2008/2009 to districts 3-1 and 4-1 for the purchase of the Bass Lake Road Apartments, was related to parcels located within district 11-1. The land expense, interfund loan and related interest expense have been reclassified to district 11-1, resulting in a an increase in the interfund loan of $3,112,558. The formentioned property was sold in 2017, decreasing the interfund loan by the sale proceeds. This loan will be paid back after the TIF Note is paid in full. Projected 21 City of New Hope, Minnesota City of New Hope, Minnesota TIF District #11-1 (Fund 9220, 9225) (Continued) Bass Lake Road Apartments Redevelopment District 1614 2011 - 12/31/2044 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ 731,600$ Bond proceeds - - - - - - - - - - Investment earnings *- - - - - - - - - - Sales/lease proceeds - - - - - - - - - - Annual revenues 731,600 731,600 731,600 731,600 731,600 731,600 731,600 731,600 731,600 731,600 Expenses Land & bldg acq. and site improvements - - - - - - - - - - Public park facilities & ice arena - - - - - - - - - - Bond principal - - - - - - - - - - Bond interest - - - - - - - - - - Debt service - rev. notes 695,020 695,020 695,020 695,020 695,020 695,020 695,020 695,020 695,020 169,570 Interest expense 110,425 113,469 116,636 119,931 123,359 126,926 130,636 134,497 138,513 139,133 Admin fees - City/EDA (includes issuance costs)1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 Other expenses - - - - - - - - - - Annual expenses 806,945 809,989 813,156 816,451 819,879 823,445 827,156 831,016 835,033 310,203 Annual increase/decrease (75,345) (78,389) (81,556) (84,851) (88,279) (91,846) (95,556) (99,417) (103,433) 421,397 Ending fund balance (2,470,619)$ (2,549,009)$ (2,630,565)$ (2,715,416)$ (2,803,695)$ (2,895,541)$ (2,991,097)$ (3,090,514) (3,193,947) (2,772,550) Cash balances (excluding interfund loans)(2,470,619)$ (2,549,009)$ (2,630,565)$ (2,715,416)$ (2,803,695)$ (2,895,541)$ (2,991,097)$ (3,090,514)$ (3,193,947)$ (2,772,550)$ Cash balances (including interfund loans)346,339 346,339 346,339 346,339 346,339 346,339 346,339 346,339 346,339 346,339 Loan from EDA / 85-2 2,816,958 2,895,347 2,976,904 3,061,755 3,150,034 3,241,879 3,337,436 3,436,852 3,540,285 3,118,889 *interest earnings (on beg of yr balance)0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% Administrative fees $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 Original market value 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 3,280,000 Original tax capacity 22,875 22,875 22,875 22,875 22,875 22,875 22,875 22,875 22,875 22,875 Total market value 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 49,150,000 Estimated tax capacity 614,375 614,375 614,375 614,375 614,375 614,375 614,375 614,375 614,375 614,375 Captured tax capacity 591,500 591,500 591,500 591,500 591,500 591,500 591,500 591,500 591,500 591,500 (1)Loans reported to cover negative cash balances in noted districts. Projected (Continued) 22 City of New Hope, Minnesota City of New Hope, Minnesota TIF District Compass Pointe (Fund 9226) Compass Pointe Housing District 1615 2014 - 12/31/2041 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 2,727,273$ 1,120,581$ 257,270$ 99,181$ 101,942$ 107,745$ 92,076$ 92,076$ Bond proceeds 1,714,207 - - - - - - - Investment earnings *272,727 208 2,738 - - - - - Annual revenues 4,714,207 1,120,789 260,008 99,181 101,942 107,745 92,076 92,076 Expenses Land & bldg acq. and site improvements 1,441,480 - 149,300 - - - - - Bond principal 1,714,207 - -- - - - - Bond interest 1,285,793 - -- - - - - Debt service - rev. notes - 692,105 179,907 72,420 90,505 94,359 81,885 66,799 Interest expense - 68,220 11,944 5,972 5,972 5,972 5,972 5,972 Admin fees - City/EDA 272,727 124,336 5,004 15,762 789 1,494 9,208 9,208 Other expenses (includes county admin fees)- - 1,689 634 646 - - - Tax increment returned to the County - 101,559 - - - - - - Annual expenses 4,714,207 986,221 347,844 94,788 97,912 101,825 97,065 81,979 Annual increase/decrease - 134,568 (87,836) 4,393 4,030 5,920 (4,989) 10,097 Ending fund balance -$ 134,568$ (87,836)$ (83,443)$ (79,413)$ (73,493)$ (78,482)$ (68,385)$ Cash balances (exluding interfund loans)(87,836)$ (83,443)$ (79,413)$ (73,493)$ (78,482)$ (68,385)$ Cash balances (including interfund loans)73,408 83,773 93,775 105,667 106,650 122,719 Loan from EDA (max $149,300) 161,244 167,216 173,188 179,160 185,132 191,104 - *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00% Original market value 811,000 811,000 811,000 811,000 811,000 811,000 Original tax capacity 4,775 4,775 4,775 4,775 4,775 4,775 Total market value 9,048,000 10,158,000 10,306,000 12,313,000 12,313,000 12,313,000 Estimated tax capacity 65,558 71,575 74,875 64,783 64,783 64,783 Captured tax capacity 60,783 66,800 70,100 60,008 60,008 60,008 Prior Year Notes: - A loan from the EDA for $149,300 was recorded in 2017 to reflect the forberance of the full market value of EDA parcels upon conveyance to the developer, which took place in 2014. See Resolution 2014-07 for further information. Projected 23 City of New Hope, Minnesota TIF District Compass Pointe (Fund 9226) (Continued) Compass Pointe Housing District 1615 2014 - 12/31/2041 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 92,076$ 92,076$ 92,076$ 92,076$ 92,076$ 92,076$ 92,076$ 92,076$ 92,076$ -$ Bond proceeds - - - - - - - - - - Investment earnings *- - - - - - - 208 - - Annual revenues 92,076 92,076 92,076 92,076 92,076 92,076 92,076 92,284 92,076 - Expenses Land & bldg acq. and site improvements - - - - - - - - - - Bond principal - - - - - - - - - - Bond interest - - - - - - - - - - Debt service - rev. notes 66,799 66,799 66,799 66,799 66,799 66,799 48,268 - - - Interest expense 5,972 5,972 5,972 5,972 5,972 5,972 5,972 5,972 2,528 - Admin fees - City/EDA (includes issuance costs)9,208 9,208 9,208 9,208 9,208 9,208 9,208 9,208 9,208 - Other expenses - - - - - - - - - - Tax increment returned to the County - - - - - - - - - 101,559 Annual expenses 81,979 81,979 81,979 81,979 81,979 81,979 63,448 15,180 11,736 101,559 Annual increase/decrease 10,097 10,097 10,097 10,097 10,097 10,097 28,628 77,104 80,340 (101,559) Ending fund balance (58,288)$ (48,191)$ (38,094)$ (27,997)$ (17,900)$ (7,803)$ 20,825$ 97,929 178,269 76,710 Cash balances (exluding interfund loans)(58,288)$ (48,191)$ (38,094)$ (27,997)$ (17,900)$ (7,803)$ 20,825$ 97,929$ 178,269$ 76,710$ Cash balances (including interfund loans)138,788 154,857 170,926 186,995 203,064 219,133 170,125 161,125 201,339 99,780 Loan from EDA (max $149,300)197,076 203,048 209,020 214,992 220,964 226,936 149,300 63,196 23,070 23,070 *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 811,000 811,000 811,000 811,000 811,000 811,000 811,000 811,000 811,000 811,000 Original tax capacity 4,775 4,775 4,775 4,775 4,775 4,775 4,775 4,775 4,775 4,775 Total market value 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 12,313,000 Estimated tax capacity 64,783 64,783 64,783 64,783 64,783 64,783 64,783 64,783 64,783 64,783 Captured tax capacity 60,008 60,008 60,008 60,008 60,008 60,008 60,008 60,008 60,008 60,008 Projected (Continued) 24 City of New Hope, Minnesota City of New Hope, Minnesota TIF District Centra Homes (Fund 9222) Centra Homes Redevelopment District 1616 2014 - 12/31/2043 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 9,500,000$ 2,753,089$ 416,853$ 284,280$ 278,406$ 293,550$ 296,000$ 296,000$ Bond proceeds 6,650,000 - - - - - - - Investment earnings *950,000 10,532 10,532 - - - - - Annual revenues 17,100,000 2,763,621 427,385 284,280 278,406 293,550 296,000 296,000 Expenses Land & bldg acq. and site improvements 5,700,000 1,660,097 1,660,097 - - - - - Bond principal 6,650,000 - - - - - - - Bond interest 3,800,000 - - - - - - - Interest expense - 703,355 462,495 65,402 57,126 48,396 33,507 22,902 Admin fees - City/EDA 950,000 156,753 3,150 1,632 1,864 2,107 29,600 29,600 Other expenses (includes county admin fees)- 2,357 2,357 - - - - - Tax increment returned to the County - - - - - - - - Annual expenses 17,100,000 2,522,562 2,128,099 67,034 58,990 50,503 63,107 52,502 Annual increase/decrease - 241,059 (1,700,714) 217,246 219,416 243,047 232,893 243,498 Ending fund balance -$ 241,059$ (1,700,714)$ (1,483,468)$ (1,264,052)$ (1,021,005)$ (788,111)$ (544,613)$ Cash balances (exluding interfund loans)(1,700,714)$ (1,483,468)$ (1,264,052)$ (1,021,005)$ (788,111)$ (544,613)$ Cash balances (including interfund loans)4,914 29,922 0 28,063.56 0 (0) Loan from EDA (max $2.4M)1,705,628 1,513,390 1,264,052 1,049,068 788,111 544,613 *interest earnings (on beg of yr balance)0.00%0.00%0.00%0.00%1.00%1.00% Administrative fees 0.00%0.00%0.00%0.00%10.00%10.00% Original market value 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 Original tax capacity 3,955 3,955 3,955 3,955 3,955 3,955 Total market value 10,225,700 20,124,000 20,833,000 25,781,610 25,781,610 25,781,610 Estimated tax capacity 99,217 197,394 204,881 258,214 258,214 258,214 Captured tax capacity 95,262 193,439 200,926 254,259 254,259 254,259 Projected 25 City of New Hope, Minnesota TIF District Centra Homes (Fund 9222) (Continued) Centra Homes Redevelopment District 1616 2014 - 12/31/2043 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 296,000$ 296,000$ 296,000$ -$ -$ -$ -$ -$ -$ -$ Bond proceeds - - - - - - - - - - Investment earnings *- - - - - - - - - - Annual revenues 296,000 296,000 296,000 - - - - - - - Expenses Land & bldg acq. and site improvements - - - - - - - - - - Bond principal - - - - - - - - - - Bond interest - - - - - - - - - - Interest expense 11,869 1,658 - - - - - - - - Admin fees - City/EDA (includes issuance costs)29,600 29,600 29,600 - - - - - - - Other expenses - - - - - - - - - - Tax increment returned to the County - - - - - - - - - - Annual expenses 41,469 31,258 29,600 - - - - - - - Annual increase/decrease 254,531 264,742 266,400 - - - - - - - Ending fund balance (290,082)$ (25,341)$ 241,059$ 241,059$ 241,059$ 241,059$ 241,059$ 241,059 241,059 241,059 Cash balances (exluding interfund loans)(290,082) (25,341) 241,059 241,059 241,059 241,059 241,059 241,059 241,059 241,059 Cash balances (including interfund loans)(0) 0 241,059 241,059 241,059 241,059 241,059 241,059 241,059 241,059 Loan from EDA (max $2.4M)290,082 25,341 0 0 0 0 0 0 0 0 *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 Original tax capacity 3,955 3,955 3,955 3,955 3,955 3,955 3,955 3,955 3,955 3,955 Total market value 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 25,781,610 Estimated tax capacity 258,214 258,214 258,214 258,214 258,214 258,214 258,214 258,214 258,214 258,214 254,259 254,259 254,259 254,259 254,259 254,259 254,259 254,259 254,259 254,259 Projected (Continued) 26 City of New Hope, Minnesota City of New Hope, Minnesota TIF District City Center (Fund 9121) City Center Redevelopment District 1617 2015 - 12/31/2042 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 31,240,446$ 7,115,324 782,926$ 300,941$ 293,174$ 216,839$ 276,072$ 276,072$ Bond proceeds 22,213,381 1,859,000 1,859,000 - - - - - Investment earnings *3,124,045 2,459 2,459 - - - - - Non-tax increment revenues - Other revenues (including bond premium)- 28,700 28,700 - - - - - Annual revenues 56,577,872 9,005,483 2,673,085 300,941 293,174 216,839 276,072 276,072 Expenses Land & bldg acq. and site improvements 19,089,336 4,016,502 4,016,502 - - - - - Bond principal 22,213,381 1,859,000 215,083 110,725 113,844 115,403 116,963 120,082 Bond interest 12,151,110 480,549 179,983 39,352 37,107 34,814 32,491 30,120 Debt service - rev. notes - - - - - - - - Interest expense - 2,061,974 471,794 84,460 84,697 84,697 84,697 84,697 Admin fees - City/EDA (includes issuance costs)3,124,045 587,458 31,294 1,574 640 1,806 27,607 27,607 Other expenses (includes county admin fees)- - - - - - - - Annual expenses 56,577,872 9,005,483 4,914,656 236,111 236,288 236,721 261,758 262,506 Annual increase/decrease - (0) (2,241,571) 64,830 56,886 (19,882) 14,314 13,566 Ending fund balance -$ (0)$ (2,241,571)$ (2,176,741)$ (2,119,855)$ (2,139,737)$ (2,125,422)$ (2,111,856)$ Less next years debt service (including interfund loan)- - 234,537 235,648 234,915 234,150 234,899 234,011 Fund balance available -$ (0)$ (2,476,108)$ (2,412,389)$ (2,354,770)$ (2,373,887)$ (2,360,321)$ (2,345,867)$ Cash balances (exluding interfund loans)(2,241,571)$ (2,176,741)$ (2,119,855)$ (2,139,737)$ (2,125,422)$ (2,111,856)$ Cash balances (including interfund loans)117,563 177,692 253,147 287,905 278,959 270,141 Loan from 85-1 (max $8M - Landwrite down)374,801 374,347 377,279 385,967 382,289 378,730 Loan from 85-2 (max $8M - Landwrite down)1,488,853 1,484,983 1,496,614 1,531,076 1,516,486 1,502,368 Loan from 86-1 (max $8M - Landwrite down)144,363 143,987 145,115 148,457 147,042 145,673 Loan from EDA (max $8M - Landwrite down)351,116 351,116 353,866 362,014 358,564 355,226 Total Loan 2,359,134 2,354,434 2,372,874 2,427,514 2,404,381 2,381,997 *interest earnings (on beg of yr balance)0.00%1.00%0.00%1.00%1.00%1.00% Administrative fees 0.00%10.00%0.00%10.00%10.00%10.00% Original market value 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 Original tax capacity 127,470 127,470 127,470 127,470 127,470 127,470 Total market value 20,382,000 21,495,000 22,272,000 26,580,000 26,580,000 26,580,000 Estimated tax capacity 405,390 427,650 443,190 529,350 453,990 453,990 Captured tax capacity 277,920 300,180 315,720 401,880 326,520 326,520 Prior Year Notes: - $40,476 in demo costs for the K-Mart Project were originally paid out of District 86-1, with the intent to be reimbursed once the City Center district was set-up. A transfer will occur in 2017 to reimburse District 86-1 from the City Center District. Projected 27 City of New Hope, Minnesota TIF District City Center (Fund 9121) (Continued) City Center Redevelopment District 1617 2015 - 12/31/2042 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ 276,072$ Bond proceeds - - - - - - - - - - Investment earnings *- - - - - - - - - - Non-tax increment revenues Other revenues (including bond premium)- - - - - - - - - - Annual revenues 276,072 276,072 276,072 276,072 276,072 276,072 276,072 276,072 276,072 276,072 Expenses Land & bldg acq. and site improvements - - - - - - - - - - Bond principal 121,641 124,760 127,879 130,998 134,117 138,796 141,915 146,797 - - Bond interest 27,673 24,866 21,708 18,309 14,663 10,737 6,527 2,199 - - Debt service - rev. notes - - - - - - - - - - Interest expense 84,697 84,697 84,697 84,697 84,697 84,697 84,697 84,697 82,972 75,929 Admin fees - City/EDA (includes issuance costs)27,607 27,607 27,607 27,607 27,607 27,607 27,607 27,607 27,607 27,607 Other expenses (includes county admin fees)- - - - - - - - - - Annual expenses 261,618 261,931 261,892 261,611 261,085 261,837 260,746 261,300 110,579 103,537 Annual increase/decrease 14,454 14,141 14,180 14,461 14,987 14,235 15,327 14,772 165,493 172,536 Ending fund balance (2,097,402)$ (2,083,261)$ (2,069,080)$ (2,054,619)$ (2,039,632)$ (2,025,397)$ (2,010,070)$ (1,995,299) (1,829,805) (1,657,270) Less next years debt service (including interfund loan)234,324 234,285 234,004 233,478 234,230 233,138 233,693 82,972 75,929 68,603 Fund balance available (2,331,726)$ (2,317,545)$ (2,303,084)$ (2,288,097)$ (2,273,862)$ (2,258,535)$ (2,243,764)$ (2,078,270) (1,905,735) (1,725,872) Cash balances (exluding interfund loans)(2,097,402)$ (2,083,261)$ (2,069,080)$ (2,054,619)$ (2,039,632)$ (2,025,397)$ (2,010,070)$ (1,995,299)$ (1,829,805)$ (1,657,270)$ Cash balances (including interfund loans)261,323 252,505 243,687 234,868 226,050 217,232 208,414 122,135 113,317 104,499 Loan from 85-1 (max $8M - Landwrite down)375,030 371,380 367,723 364,022 360,237 356,572 352,733 336,666 308,951 280,116 Loan from 85-2 (max $8M - Landwrite down)1,487,690 1,473,209 1,458,704 1,444,021 1,429,006 1,414,466 1,399,238 1,335,504 1,225,563 1,111,180 Loan from 86-1 (max $8M - Landwrite down)144,250 142,846 141,439 140,016 138,560 137,150 135,673 129,494 118,833 107,743 Loan from EDA (max $8M - Landwrite down)351,755 348,331 344,901 341,429 337,879 334,441 330,840 315,770 289,775 262,730 2,358,725 2,335,766 2,312,767 2,289,488 2,265,682 2,242,629 2,218,484 2,117,434 1,943,122 1,761,769 *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 10,136,000 Original tax capacity 127,470 127,470 127,470 127,470 127,470 127,470 127,470 127,470 127,470 127,470 Total market value 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 26,580,000 Estimated tax capacity 453,990 453,990 453,990 453,990 453,990 453,990 453,990 453,990 453,990 453,990 Captured tax capacity 326,520 326,520 326,520 326,520 326,520 326,520 326,520 326,520 326,520 326,520 Projected (Continued) 28 City of New Hope, Minnesota City of New Hope, Minnesota TIF District Industrial Equities (Fund 9224) Industrial Equities Redevelopment District 1618 2015 - 12/31/2033 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 800,823$ 589,459$ 84,042$ 50,327$ 61,505$ 62,039$ 82,887$ 82,887$ Bond proceeds - - - - - - - - Investment earnings *80,082 2,819 155 - - - 301 397 Annual revenues 880,905 592,278 84,197 50,327 61,505 62,039 83,188 83,284 Expenses Land & bldg acq. and site improvements 564,280 - - - - - - - Debt service - rev. notes 236,543 439,984 60,466 41,507 37,819 27,918 65,216 74,598 Interest expense - - - - - - - - Admin fees - City/EDA 80,082 92,398 15,081 1,168 41,562 1,431 8,289 8,289 Other expenses (includes county admin fees)- 1,052 1,052 - - - - - Annual expenses 880,905 533,434 76,599 42,675 79,381 29,349 73,505 82,887 Annual increase/decrease - 58,844 7,598 7,652 (17,876) 32,690 9,682 397 Ending fund balance -$ 58,844$ 7,598$ 15,250$ (2,626)$ 30,064$ 39,746$ 40,143$ Cash balances (exluding interfund loans)7,598$ 15,250$ (2,626)$ 30,064$ 39,746$ 40,143$ Cash balances (including interfund loans)24,631 15,250 (2,626) 30,064 39,746 40,143 Loan from EDA 17,033 - - - - - *interest earnings (on beg of yr balance)0.00%0.00%1.00%1.00%1.00%1.00% Administrative fees 0.00%0.00%10.00%10.00%10.00%10.00% Original market value 400,000 400,000 400,000 400,000 400,000 400,000 Original tax capacity 7,250 7,250 7,250 7,250 7,250 7,250 Total market value 2,640,000 2,640,000 3,040,000 5,400,000 5,400,000 5,400,000 Estimated tax capacity 52,050 52,050 60,050 107,250 107,250 107,250 Captured tax capacity 44,800 44,800 52,800 100,000 100,000 100,000 Projected 29 City of New Hope, Minnesota TIF District Industrial Equities (Fund 9224) (Continued) Industrial Equities Redevelopment District 1618 2015 - 12/31/2033 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 82,887$ 82,887$ -$ -$ -$ -$ -$ -$ -$ -$ Bond proceeds - - - - - - - - - - Investment earnings *401 405 - - - - - - - - Annual revenues 83,288 83,292 - - - - - - - - Expenses Land & bldg acq. and site improvements - - - - - - - - - - Debt service - rev. notes 74,598 57,862 - - - - - - - - Interest expense - - - - - - - - - - Admin fees - City/EDA (includes issuance costs)8,289 8,289 - - - - - - - - Other expenses - - - - - - - - - - Annual expenses 82,887 66,151 - - - - - - - - Annual increase/decrease 401 17,141 - - - - - - - - Ending fund balance 40,543$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684 57,684 57,684 Cash balances 40,543$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 57,684$ 40,543 57,684 57,684 57,684 57,684 57,684 57,684 57,684 57,684 57,684 Loan from EDA - - - - - - - - - - *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 Original tax capacity 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 7,250 Total market value 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 5,400,000 Estimated tax capacity 107,250 107,250 107,250 107,250 107,250 107,250 107,250 107,250 107,250 107,250 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 Projected (Continued) 30 City of New Hope, Minnesota City of New Hope, Minnesota TIF District Good Samaritan (Fund 9227) Good Samaritan Redevelopment District 1619 2017 - 12/31/2044 Totals TIF Plan Entire Length 2019 Budget of District and Prior 2020 2021 2022 2023 2024 Revenues Tax increment 2,638,139$ 1,396,768$ 535$ 47,433$ 58,779$ 59,569$ 55,930$ 55,930$ Investment earnings *263,814 2,406 (5) - - - 272 258 Non-tax increment revenues - Other revenues - 10,000 10,000 - - - - - Annual revenues 2,901,953 1,409,174 10,530 47,433 58,779 59,569 56,202 56,188 Expenses Land & bldg acq. and site improvements 1,626,749 - - - - - - - Debt service - rev. notes - 730,231 37,819 37,819 47,795 53,257 51,974 50,337 Interest expense 1,011,390 - - - - - - - Admin fees - City/EDA 263,814 85,480 (26,953) (13,416) 1,376 1,427 5,593 5,593 Other expenses (includes county admin fees)- 10,000 10,000 - - - - - Annual expenses 2,901,953 825,711 20,866 24,403 49,171 54,684 57,567 55,930 Annual increase/decrease - 583,463 (10,336) 23,030 9,608 4,885 (1,366) 258 Ending fund balance -$ 583,463$ (10,336)$ 12,694$ 22,302$ 27,187$ 25,821$ 26,079$ Cash balances (exluding interfund loans)(10,336)$ 12,694$ 22,302$ 27,187$ 25,821$ 26,079$ Cash balances (including interfund loans)- 12,694 22,302 27,187 25,821 26,079 Loan from EDA (Max $20,000)10,336 - - - - - *interest earnings (on beg of yr balance)0.00%0.00%1.00%1.00%1.00%1.00% Administrative fees 0.00%0.00%10.00%10.00%10.00%10.00% Original market value 190,000 190,000 190,000 190,000 190,000 190,000 Original tax capacity 2,000 2,000 2,000 2,000 2,000 2,000 Total market value 190,000 190,000 2,829,000 3,750,000 3,750,000 3,750,000 Estimated tax capacity 2,000 2,375 35,363 46,875 46,875 46,875 Captured tax capacity - 375 33,363 44,875 44,875 44,875 Projected 31 City of New Hope, Minnesota TIF District Good Samaritan (Fund 9227) Good Samaritan Redevelopment District 1619 2017 - 12/31/2044 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Tax increment 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ 55,930$ Investment earnings *261 263 266 269 271 274 277 - - - Non-tax increment revenues Other revenues (including bond premium)- - - - - - - - - - Annual revenues 56,191 56,193 56,196 56,199 56,201 56,204 56,207 55,930 55,930 55,930 Expenses Land & bldg acq. and site improvements - - - - - - - - - - Debt service - rev. notes 50,337 50,337 50,337 50,337 50,337 50,337 50,337 50,337 48,537 - Interest expense - - - - - - - - - - Admin fees - City/EDA (includes issuance costs)5,593 5,593 5,593 5,593 5,593 5,593 5,593 5,593 5,593 5,593 Other expenses - - - - - - - - - - Annual expenses 55,930 55,930 55,930 55,930 55,930 55,930 55,930 55,930 54,130 5,593 Annual increase/decrease 261 263 266 269 271 274 277 (0) 1,800 50,337 Ending fund balance 26,340$ 26,603$ 26,869$ 27,138$ 27,409$ 27,683$ 27,960$ 27,960 29,760 80,097 Cash balances 26,340$ 26,603$ 26,869$ 27,138$ 27,409$ 27,683$ 27,960$ 27,960$ 29,760$ 80,097$ 26,340 26,603 26,869 27,138 27,409 27,683 27,960 27,960 29,760 80,097 Loan from EDA - - - - - - - - - - *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Administrative fees 10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00%10.00% Original market value - - - - - - - - - - Original tax capacity 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 Total market value - - - - - - - - - - Estimated tax capacity 46,875 46,875 46,875 46,875 46,875 46,875 46,875 46,875 46,875 46,875 44,875 44,875 44,875 44,875 44,875 44,875 44,875 44,875 44,875 44,875 Projected (Continued) 32 EDA Fund 2020 2021 2022 2023 2024 Revenues Investment earnings *18,953$ (15,053)$ (74,821)$ 19,757$ 20,012$ Non-tax increment revenues EDA tax levy 348,000 365,000 574,905 598,500 628,425 Sales/lease proceeds - - - - - Grants 76,250 - - - - Interest on interfund Loans 86,892 75,729 66,999 46,138 35,533 Other revenues 22,900 102,028 1,636 - - Transfers in - - 100,000 - - Annual revenues 552,995 527,704 668,719 664,395 683,970 - Expenses Land & bldg acq. and site improvements - - - - - Operating expenses:- - Payroll 336,358 344,901 227,681 239,065 251,018 Professional services 30,362 21,807 47,659 50,042 52,544 Utilities - - - - - IT Transfer 14,182 14,412 12,240 12,852 13,495 Repair and Maint. - - - - - Miscellaneous 95,621 22,451 33,905 25,000 26,250 Capital Outlay 68,272 25,963 11,055 - - Curbside Appeal Program - - - 25,000 25,000 Scattered Site Program 373,884 169,642 164,569 500,000 500,000 Transfers out 35,619 36,504 50,260 34,750 34,750 Annual expenses 954,298 635,680 547,369 886,709 903,057 Annual increase/decrease (401,303) (107,976) 121,350 (222,314) (219,087) Ending fund balance 4,320,455$ 4,212,479$ 4,333,829$ 4,111,515$ 3,892,428$ Cash balances (Due to other funds)2,004,366$ 2,187,136$ 1,975,717$ 2,001,233$ 2,026,010$ Loan to 11-1 - - - - - Loan to Compass Pointe 167,216 173,188 179,160 185,132 191,104 Loan to Centra Homes 1,513,390 1,264,052 1,049,068 788,111 544,613 Loan to City Center 351,116 353,866 362,014 358,564 355,226 Total TIF Interfund Loan Receivables 2,031,722 1,791,106 1,590,242 1,331,807 1,090,943 Notes receivable - - 234,500 231,500 228,500 Land held for resale - - 546,975 546,975 546,975 Other Receivables 702,398 246,150 3,617 - - Other Payables 11,104 15,352 17,219 - - *interest earnings (on beg of yr balance)-0.35%-0.75%-3.42%1.00%1.00% Prior Year Notes: - In 2019, the loan to 11-1 was transferred and payable to district 85-2 / 86-1. - In 2019, an interfund loan was issued with Centra Homes to account for the land held for resale write down related to the Winnetka Learning Center The loan and related cost adjustments should have been completed in 2015 when the learning center property was sold. - Combined revised land sale proceeds of $860,078 were returned to the EDA in 2015 from TIF Districts 85-1, 85-2 and 86-2. - In 2018, the EDA transferred $95,354 to the CEE Fund in accordance with the Loan Originzation Agreement between the Center for Energy and Enviroment and the EDA. City of New Hope, Minnesota Projected 33 EDA Fund (Continued) 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Revenues Investment earnings *20,260$ 20,714$ 21,322$ 19,932$ 18,410$ 17,048$ 15,852$ 15,674$ 15,893$ 15,938$ Non-tax increment revenues EDA tax levy 659,846 692,839 727,480 763,855 802,047 842,150 884,257 928,470 974,893 1,023,638 Sales/lease proceeds - - - - - - - - - - Grants - - - - - - - - - - Interest on interfund Loans 30,472 20,261 18,603 18,603 18,603 18,603 18,603 18,603 14,901 11,323 Other revenues - - - - - - - - - - Transfers in - - - - - - - - - - Annual revenues 710,578 733,814 767,405 802,389 839,060 877,800 918,712 962,747 1,005,688 1,050,899 Expenses Land & bldg acq. and site improvements - - - - - - - - - - Operating expenses:- - - - - - - - - - Payroll 263,569 276,748 290,585 305,114 320,370 336,389 353,208 370,868 389,412 408,882 Professional services 55,171 57,930 60,826 63,868 67,061 70,414 73,935 77,631 81,513 85,589 Utilities - - - - - - - - - - IT Transfer 14,169 14,878 15,622 16,403 17,223 18,084 18,988 19,938 20,935 21,981 Repair and Maint. - - - - - - - - - - Miscellaneous 27,563 28,941 30,388 31,907 33,502 35,178 36,936 38,783 40,722 42,758 Capital Outlay - - - - - - - - - - Curbside Appeal Program 25,000 25,000 - - - - - - - - Scattered Site Program 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 Transfers out 34,750 34,750 34,750 34,750 34,750 34,750 34,750 34,750 34,750 34,750 Annual expenses 920,222 938,246 932,171 952,042 972,906 994,814 1,017,817 1,041,971 1,067,332 1,093,961 Annual increase/decrease (209,644) (204,432) (164,765) (149,652) (133,846) (117,014) (99,105) (79,224) (61,644) (43,061) Ending fund balance 3,682,784$ 3,478,352$ 3,313,586$ 3,163,934$ 3,030,088$ 2,913,074$ 2,813,969$ 2,734,745$ 2,673,101$ 2,630,039$ Cash balances (Due to other funds)2,071,396$ 2,132,157$ 1,993,190$ 1,841,038$ 1,704,770$ 1,585,222$ 1,567,354$ 1,589,304$ 1,593,781$ 1,577,765$ Loan to 11-1 - - - - - - - - - - Loan to Compass Pointe 197,076 203,048 209,020 214,992 220,964 226,936 149,300 63,196 23,070 23,070 Loan to Centra Homes 290,082 25,341 0 - - - - - - - Loan to City Center 351,755 348,331 344,901 341,429 337,879 334,441 330,840 315,770 289,775 262,730 Total TIF Interfund Loan Receivables 838,913 576,720 553,921 556,421 558,843 561,377 480,140 378,966 312,845 285,800 Notes receivable 225,500 222,500 219,500 219,500 219,500 219,500 219,500 219,500 219,500 219,500 Land held for resale 546,975 546,975 546,975 546,975 546,975 546,975 546,975 546,975 546,975 546,975 Other Receivables - - - - - - - - - - Other payables - - - - - - - - - - *interest earnings (on beg of yr balance)1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00%1.00% Projected (Continued) City of New Hope, Minnesota 34 City of New Hope, Minnesota HRA Construction Fund (CAFR) 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Revenues Tax increment 1,271,777$ 1,431,751$ 1,458,943$ 1,581,367$ 1,498,480$ 1,498,480$ 1,243,748$ 1,243,748$ 947,748$ 947,748$ 947,748$ Market value homestead credit - - - - - - - - - - - Bond proceeds - - - - - - - - - - - Investment earnings *510 1,317 - 24,261 26,768 29,148 405 - - 28 597 Sales/lease proceeds - - - - - - - - - - - Non-tax increment revenues EDA tax levy - - - - - - - - - - - Grants - - - - - - - - - - - Other revenues (including bond premium)78,008 125,180 173,975 176,758 179,566 182,492 185,536 188,703 191,998 195,426 198,992 Transfers in - - - - - - - - - - - Annual revenues 1,350,295 1,558,248 1,632,918 1,782,385 1,704,814 1,710,120 1,429,689 1,432,451 1,139,745 1,143,201 1,147,337 Expenses Land & bldg acq. and site improvements 2,407,962 - - - - - - - - - - Public park facilities & ice arena - - - - - - - - - - - Interest reduction - - - - - - - - - - - Bond principal 24,603 24,883 16,560 - - - (27,500) - - - - Bond interest 114,438 (13,531) (94,141) - - - (337) - - - - Debt service - rev. notes 401,134 716,079 851,830 935,920 924,819 924,819 908,083 850,221 850,221 850,221 850,221 Interest expense 513,959 145,961 305,079 228,867 221,071 212,964 205,797 207,306 210,600 214,028 217,595 Admin fees - City/EDA 23,996 57,056 14,555 145,881 145,931 144,131 93,184 84,895 55,295 55,295 55,295 Admin adjustments - - - - - - - - - - - Other expenses 2,991 646 - - - - - - - - - Transfers out - - - - - - - - - - - Tax increment returned to the County - - - 89,528 13,467 26,049 1,720,480 56,919 57,018 57,121 57,228 Annual expenses 3,489,084 931,093 1,093,883 1,400,197 1,305,288 1,307,963 2,899,708 1,199,341 1,173,135 1,176,666 1,180,339 Annual increase/decrease (2,138,789) 627,155 539,035 382,189 399,526 402,157 (1,470,019) 233,109 (33,390) (33,464) (33,002) Ending fund balance 2,442,881$ 3,070,036$ 3,609,071$ 3,991,260$ 4,390,786$ 4,792,942$ 3,322,923$ 3,556,032$ 3,522,643$ 3,489,178$ 3,456,176$ Less next years debt service 386,577 505,942 672,434 461,935 464,994 440,153 230,105 208,100 211,606 215,061 561,377 Fund balance available 2,056,304$ 2,564,093$ 2,936,637$ 3,529,325$ 3,925,792$ 4,352,789$ 3,092,819$ 3,347,932$ 3,311,036$ 3,274,117$ 2,894,799$ Cash balances 3,554,343$ 4,239,776$ 4,835,972$ 5,282,427$ 5,820,769$ 6,321,199$ 4,972,855$ 5,261,894$ 5,284,434$ 5,306,899$ 5,329,827$ Loan from EDA 2,031,722 1,791,106 1,590,242 1,331,807 1,090,943 838,913 576,720 553,921 556,421 558,843 561,377 *interest earnings (on beg of yr balance)0.02%0.04%0.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00%2.00% Projected 35 City of New Hope, Minnesota HRA Bonds Fund (CAFR) 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Revenues Tax increment 647,081$ 686,448$ 760,734$ 626,865$ 626,865$ 626,865$ 372,132$ 372,132$ 372,132$ 372,132$ 372,132$ Market value homestead credit - - - - - - - - - - - Bond proceeds - - - - - - - - - - - Investment earnings *(510) (1,317) - - - - - - - - - Non-tax increment revenues Other revenues (including bond premium)51,617 36,934 - - - - - - - - - Annual revenues 698,188 722,065 760,734 626,865 626,865 626,865 372,132 372,132 372,132 372,132 372,132 Expenses Land & bldg acq. and site improvements - - - - - - - - - - - Bond principal 396,122 404,165 428,843 461,963 475,082 491,641 247,260 232,879 230,998 234,117 238,796 Bond interest 132,445 120,371 187,562 82,092 70,816 58,548 49,052 41,602 33,952 25,956 17,480 Interest expense 152,073 155,503 - - - - - - - - - Admin fees - City/EDA (includes issuance costs)- - 2,560 - - - - - - - - Annual expenses 680,640 680,039 618,965 544,054 545,898 550,189 296,312 274,481 264,950 260,073 256,276 Annual increase/decrease 17,548 42,026 141,769 82,811 80,967 76,676 75,820 97,651 107,182 112,059 115,856 Ending fund balance (312,704)$ (270,678)$ (128,909)$ (46,098)$ 34,869$ 111,546$ 187,365$ 285,016$ 392,199$ 504,257$ 620,114$ Less next years debt service 680,039 616,405 544,054 545,898 550,189 296,312 274,481 264,950 260,073 256,276 Fund balance available (992,743)$ (887,083)$ (672,963)$ (591,996)$ (515,319)$ (184,767)$ (87,116)$ 20,067$ 132,125$ 247,982$ 620,114$ Cash balances (312,704)$ (270,678)$ (128,909)$ (46,098)$ 34,869$ 111,546$ 187,365$ 285,016$ 392,199$ 504,257$ 620,114$ *interest earnings (on beg of yr balance)0.15%0.42%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% Projected 36 Projected 2023 2020 2021 2022 & Beyond Interest earnings (on positive fund balance)2.00%2.00% Administrative fees 10.00% District 4-2 $2,000 annually Bass Lake Road $1,500 annually All other 10.00% Administrative fee limitations None None 85-1 to 86-1 02-1 Commercial/industrial Market value base 150,000$ 150,000$ 150,000$ 150,000$ Base rate 1.50%1.50%1.50%1.50% Rate for value above base 2.00%2.00%2.00%2.00% Rental - market rate Market value base - - - - Base rate 1.25%1.25%1.25%1.25% Rate for value above base 1.25%1.25%1.25%1.25% Rental - low income/class 4d Market value base - - - - Base rate 0.75%0.75%0.75%0.75% Rate for value above base 0.75%0.75%0.75%0.75% Residential Homestead Market value base 500,000 500,000 500,000 500,000 Base rate 1.00%1.00%1.00%1.00% Rate for value above base 1.25%1.25%1.25%1.25% Tax Collection Rate 100.00%100.00%100.00%100.00% Less State Auditor Fee -0.36%-0.36%-0.36%-0.36% Net collection percentage 99.64%99.64%99.64%99.64% Inflation 0.00%0.00%0.00%0.00% Local Tax Rates City of New Hope 0.58589 0.63940 0.64323 0.58504 Hennepin County 0.42808 0.38210 0.38525 0.34542 School District #281 0.31957 0.25529 0.26507 0.24092 Misc.0.09849 0.08656 0.09217 0.07947 Total local tax rate 1.43203 1.36335 1.38572 1.25085 TIF 86-1 local tax rate (1607)N/A N/A N/A N/A Frozen tax rate TIF 3-1, 4-1 (1610, 1611) 1.38209 1.38209 1.38209 1.38209 Frozen tax rate TIF 4-2 (1612) 1.27819 1.27819 1.27819 1.27819 Frozen tax rate TIF 8-1 (1613)1.16082 1.16082 1.16082 1.16082 Frozen tax rate TIF 11-1 (1614)1.39170 1.39170 1.39170 1.39170 Frozen tax rate TIF (1615, 1616)1.53440 1.53440 1.53440 1.53440 Frozen tax rate TIF (1617)1.45341 1.45341 1.45341 1.45341 Frozen tax rate TIF (1618)1.46063 1.46063 1.46063 1.46063 Districts with cert req date before 7/31/01 - lesser of 10% of budgeted expenditures or 10% City of New Hope, Minnesota All TIF Districts Assumptions Pre '79 Districts - cert req date bef 8/1/79 - lesser of 10% of budgeted expenditures or 10% of Pre '82 Districts - cert req date bef 8/1/79 - lesser of 5% of budgeted expenditures or 5% of Districts with cert req date before 8/1/01 - lesser of 10% of budgeted expenditures or 10% of 37 City of New Hope, Minnesota City of New Hope, Minnesota Actual Purpose Max $2022 2023 2024 86-1 36th Ave Apartments 4-1 Old Frank's Nursery Site Cash deficit coverage 500,000$ 171,370$ *142,089$ 112,724$ 3-1 Ryland/CVS/ East Winnetka 4-1 Old Frank's Nursery Site Cash deficit coverage 150,000 83,984 *83,984 83,984 3-1 Ryland/CVS/ East Winnetka 4-2 PPL (Boone Ave)Cash deficit coverage To be updated 103,105 121,297 128,372 85-2 42nd Ave (proj. 8)11-1 Bass Lake Rd. Apartments Reimuburse land write-down 77,993 80,076 82,248 86-1 36th Ave Apartments 11-1 Bass Lake Rd. Apartments Reimuburse land write-down 2,521,786 2,589,117 2,659,364 EDA Economic Development Authority 1615 Compass Pointe Reimuburse land write-down 149,300 179,160 185,132 191,104 EDA Economic Development Authority 1616 Centra Homes Reimuburse land write-down 2,400,000 1,049,068 788,111 544,613 85-1 Elderly Apartments (Project #6)1617 City Center Reimuburse land write-down 385,967 382,289 378,730 85-2 42nd Ave (Project #8)1617 City Center Reimuburse land write-down 1,531,076 1,516,486 1,502,368 86-1 36th Ave Apartments (Project #7)1617 City Center Reimuburse land write-down 148,457 147,042 145,673 EDA Economic Development Authority 1617 City Center Reimuburse land write-down 362,014 358,564 355,226 EDA Economic Development Authority 1618 Industrial Equities Cash deficit coverage To be updated - - - Total 23,599,300$ 6,613,980$ 6,394,188$ 6,184,407$ Receivable Summary: 36th Ave Apartments 85-1 385,967$ 382,289$ 378,730$ 36th Ave Apartments 85-2 1,609,069 1,596,562 1,584,616 36th Ave Apartments 86-1 2,841,613 2,878,248 2,917,761 Ryland/CVS/ East Winnetka 3-1 187,089 205,281 212,356 Economic Development Authority EDA 1,590,242 1,331,807 1,090,943 6,613,980$ 6,394,188$ 6,184,407$ Payable Summary: Old Frank's Nursery Site 4-1 255,354$ 226,073$ 196,708$ PPL (Boone Avenue)4-2 103,105 121,297 128,372 Bass Lake Rd. Apartments 11-1 2,599,780 2,669,193 2,741,613 Compass Pointe 1615 179,160 185,132 191,104 City Center 1617 2,427,514 2,404,381 2,381,997 6,613,980$ 6,394,188$ 6,184,407$ 8,000,000 Receivable District Payable District Projected 4,000,000 Interfund Loan Schedule 38 City of New Hope, Minnesota City of New Hope, Minnesota 2025 2026 2027 2028 2029 2030 2031 86-1 36th Ave Apartments 4-1 Old Frank's Nursery Site 83,717$ 26,873$ -$ -$ -$ -$ -$ 3-1 Ryland/CVS/ East Winnetka 4-1 Old Frank's Nursery Site 83,984 83,984 54,013 - - - - 3-1 Ryland/CVS/ East Winnetka 4-2 PPL (Boone Ave)137,043 142,057 153,116 154,924 152,382 145,290 128,664 85-2 42nd Ave (proj. 8)11-1 Bass Lake Rd. Apartments 84,509 86,860 89,307 91,853 94,501 97,256 100,123 86-1 36th Ave Apartments 11-1 Bass Lake Rd. Apartments 2,732,449 2,808,487 2,887,597 2,969,902 3,055,533 3,144,623 3,237,313 EDA Economic Development Authority 1615 Compass Pointe 197,076 203,048 209,020 214,992 220,964 226,936 149,300 EDA Economic Development Authority 1616 Centra Homes 290,082 25,341 0 0 0 0 0 85-1 Elderly Apartments (Project #6)1617 City Center 375,030 371,380 367,723 364,022 360,237 356,572 352,733 85-2 42nd Ave (Project #8)1617 City Center 1,487,690 1,473,209 1,458,704 1,444,021 1,429,006 1,414,466 1,399,238 86-1 36th Ave Apartments (Project #7)1617 City Center 144,250 142,846 141,439 140,016 138,560 137,150 135,673 EDA Economic Development Authority 1617 City Center 351,755 348,331 344,901 341,429 337,879 334,441 330,840 EDA Economic Development Authority 1618 Industrial Equities - - - - - - - 5,967,585$ 5,712,416$ 5,705,820$ 5,721,158$ 5,789,062$ 5,856,734$ 5,833,884$ Receivable Summary: 36th Ave Apartments 375,030$ 371,380$ 367,723$ 364,022$ 360,237$ 356,572$ 352,733$ 36th Ave Apartments 1,572,199 1,560,069 1,548,011 1,535,874 1,523,507 1,511,722 1,499,361 36th Ave Apartments 2,960,416 2,978,206 3,029,036 3,109,918 3,194,093 3,281,773 3,372,986 Ryland/CVS/ East Winnetka 221,027 226,041 207,129 154,924 152,382 145,290 128,664 Economic Development Authority 838,913 576,720 553,921 556,421 558,843 561,377 480,140 5,967,585$ 5,712,416$ 5,705,820$ 5,721,158$ 5,789,062$ 5,856,734$ 5,833,884$ Payable Summary: Old Frank's Nursery Site 167,701$ 110,857$ 54,013$ -$ -$ -$ -$ PPL (Boone Avenue)137,043 142,057 153,116 154,924 152,382 145,290 128,664 Bass Lake Rd. Apartments 2,816,958 2,895,347 2,976,904 3,061,755 3,150,034 3,241,879 3,337,436 Compass Pointe 197,076 203,048 209,020 214,992 220,964 226,936 149,300 City Center 2,358,725 2,335,766 2,312,767 2,289,488 2,265,682 2,242,629 2,218,484 5,967,585$ 5,712,416$ 5,705,820$ 5,721,158$ 5,789,062$ 5,856,734$ 5,833,884$ Receivable District Payable District Interfund Loan Schedule (Continued) Projected (Continued) 39 City of New Hope, Minnesota 2032 2033 2034 86-1 36th Ave Apartments 4-1 Old Frank's Nursery Site -$ -$ -$ 3-1 Ryland/CVS/ East Winnetka 4-1 Old Frank's Nursery Site - - - 3-1 Ryland/CVS/ East Winnetka 4-2 PPL (Boone Ave)14,829 14,829 14,829 85-2 42nd Ave (proj. 8)11-1 Bass Lake Rd. Apartments 103,106 106,209 93,567 86-1 36th Ave Apartments 11-1 Bass Lake Rd. Apartments 3,333,747 3,434,077 3,025,322 EDA Economic Development Authority 1615 Compass Pointe 63,196 23,070 23,070 EDA Economic Development Authority 1616 Centra Homes 0 0 0 85-1 Elderly Apartments (Project #6)1617 City Center 336,666 308,951 280,116 85-2 42nd Ave (Project #8)1617 City Center 1,335,504 1,225,563 1,111,180 86-1 36th Ave Apartments (Project #7)1617 City Center 129,494 118,833 107,743 EDA Economic Development Authority 1617 City Center 315,770 289,775 262,730 EDA Economic Development Authority 1618 Industrial Equities - - - 5,632,311$ 5,521,307$ 4,918,556$ Receivable Summary: 36th Ave Apartments 336,666$ 308,951$ 280,116$ 36th Ave Apartments 1,438,610 1,331,772 1,204,747 36th Ave Apartments 3,463,240 3,552,910 3,133,064 Ryland/CVS/ East Winnetka 14,829 14,829 14,829 Economic Development Authority 378,966 312,845 285,800 5,632,311$ 5,521,307$ 4,918,556$ Payable Summary: Old Frank's Nursery Site -$ -$ -$ PPL (Boone Avenue)14,829 14,829 14,829 Bass Lake Rd. Apartments 3,436,852 3,540,285 3,118,889 Compass Pointe 63,196 23,070 23,070 City Center 2,117,434 1,943,122 1,761,769 5,632,311$ 5,521,307$ 4,918,556$ Receivable District Payable District Interfund Loan Schedule (Continued) Projected (Continued) 40 Interest Percent 2019 Principal Rate of T.I.Term and Prior 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 TIF District #04-1 Wtka Townhomes 400,000$ 6.75%35.0%12/01/05-08/01/31 271,362$ 33,320$ 35,879$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ 38,066$ -$ TIF District Compass Pointe Compass Pointe Limited Partnership 684,255$ 5.50%90.0%8/1/2016-2/1/2041 113,498 87,617 90,505 94,359 81,885 66,799 66,799 66,799 66,799 66,799 66,799 66,799 48,268 - TIF District Industrial Equities Industrial Equities New Hope 370,000$ 4.50%90.0%3/16/2017-2/1/2033 18,959 37,819 41,507 27,918 65,216 74,598 74,598 57,862 - - - - - - TIF District Bass Lake Road Ironwood Apartments 6,574,000$ 4.50%95.0%8/15/2019-2/1/2042 - 217,118 505,130 639,281 698,779 695,020 695,020 695,020 695,020 695,020 695,020 695,020 695,020 695,020 TIF District Good Samaritan The Lodge of New Hope, LLC 534,000$ 4.50%90.0%8/15/2020-2/1/2035 - 21,345 47,795 53,257 51,974 50,337 50,337 50,337 50,337 50,337 50,337 50,337 50,337 50,337 City of New Hope, Minnesota Schedule of Principal and Interest Payments on Pay-Go Revenue Notes Projected 41 I:\RFA\City Manager\2023\WMFRD\WS 082123\11.2 Q ‐ 2024 WMFRD Budget.docx Request for Action August 21, 2023 Approved by: Reece Bertholf, City Manager Originating Department: City Manager By: Valerie Leone, City Clerk‐Treas. Agenda Title Discuss West Metro Fire‐Rescue District 2024 Budget Requested Action Staff requests that the City Council briefly review and discuss the proposed 2024 West Metro Fire‐Rescue District budget prior to it being placed on the August 28 council agenda for formal action. Chief Larson will be in attendance at the meeting. Policy/Past Practice Past practice has been for the City Council to review the budget after it has been approved by the Fire Board and prior to it being placed on the council agenda for formal consideration. Background Staff and Chief Larson are requesting that the City Council review the WMFRD 2024 budget before it is presented for formal approval at an upcoming council meeting. The Council previously reviewed the budget at the May work session. The budget was presented to the Fire Board at their July 12 annual meeting and the Board unanimously recommended approval of the budget. The Joint Powers Agreement requires both city councils to act on the budget by August 31; or state their objections to the budget. Council Member Elder serves as the New Hope Council Representative on the Board and Marc Berris serves on the Board as the New Hope Citizen Representative. The city managers from both cities also serve on the Board. 2024 Budget The proposed 2024 budget is attached and includes maintaining eight full‐time members serving as daytime duty crew (also responsible for department operations including inspections, public education, community outreach, finance/payroll, records management, IT, human resources, emergency management, apparatus/equipment maintenance and training) and maintaining up to 66 paid on call firefighters (WMFRD currently has 49 paid on call firefighters). The total 2024 budget is $3,364,500, which is a $333,310 increase over the 2023 budget of $3,031,190. The general operating budget increase is $183,310 or 7.5%, based on an additional full‐time staff member, salaries, incentive pay for paid‐on‐call firefighters, PERA, workers comp. insurance, medical exams, financial services and communications. There is a $20,000 increase to the special revenue pension fund contribution. The contributions to the budget from cities include a $103,600 lease payment for the aerial truck (tower) and $150,000 lease payment for the new engines. The costs of the budget are split between the two cities based on a cost sharing formula that includes average number of calls over a five‐year period, population, and taxable market value. Based on the 2024 preliminary budget, New Hope’s increase is $178,066 or 11.5%. New Hope’s share of the total budget is $1,729,883 or 51.4158%. Crystal’s share of the budget is $1,634,619 or 48.5842%. Per the chart below, New Hope’s market Agenda Section Work Session Item Number 11.2 Request for Action, Page 2 values increased more than the market values in Crystal between 2022 and 2023, and the average number of calls for service were greater. Market Values in Millions 2023 Budget 2024 Budget Change New Hope 2,382 2,748 +366 Crystal 2,402 2,708 +306 Average Calls Over 5 Years 2023 Budget 2024 Budget Change New Hope 1040 1,064 +24 Crystal 842 858 +16 As the Council is aware, the WMFRD budget is incorporated into the city’s general fund budget. Staff recommends that the budget be placed on the August 28 council agenda for approval. The Crystal City Council approved the budget at their August 15 council meeting. Attachment  2024 West Metro Fire‐Rescue District Budget West Metro FirePROPOSED 2024 BUDGET West Metro Fire Proposed 2024 BudgetX2024 Preliminary Budgets and Contributions2024 2023XGeneral Operating Budget $2,640,900 $2,457,590XCapital Fund Contribution $250,000 $250,000XSpecial Revenue Pension Fund Contribution $200,000 $180,000XSpecial Revenue Insurance Fund Contribution $10,000 $10,000XSpecial Revenue Compensated Absences Fund Contribution $10,000 $10,000XTower Lease $103,600 $103,600XEngine Lease $150,000 $70,000XOffset-$50,000 Total $3,364,500 $3,031,190 West Metro Fire Proposed 2024 BudgetXdŚĞĐŝƚŝĞƐ͛ƉƌĞůŝŵŝŶĂƌǇϮϬϮϰƚŽƚĂůďƵĚŐĞƚĐŽŶƚƌŝďƵƚŝŽŶŝƐΨϯ͕ϯϲϰ͕ϱϬϬǁŚŝĐŚŝƐΨϭ͕ϲϯϰ͕ϲϭϳĨŽƌƌǇƐƚĂůĂŶĚΨϭ͕ϳϮϵ͕ϴϴϯĨŽƌEĞǁ,ŽƉĞ͘XdŚŝƐŝƐĂŶŝŶĐƌĞĂƐĞŽĨΨϯϯϯ͕ϯϭϬŽǀĞƌƚŚĞϮϬϮϯĐŽŶƚƌŝďƵƚŝŽŶƐŽƌϭϭй͘XdŚŝƐŝƐĂŶŝŶĐƌĞĂƐĞŽĨΨϭϱϱ͕ϮϰϰŽƌϭϬ͘ϱйĨŽƌƌǇƐƚĂůĂŶĚĂŶŝŶĐƌĞĂƐĞŽĨΨϭϳϴ͕ϬϲϲŽƌϭϭ͘ϱйĨŽƌEĞǁ,ŽƉĞ͘XdŚĞƌĞǁĂƐĂΨϱϬ͕ϬϬϬŽĨĨƐĞƚ;ĐĂƌƌǇŽǀĞƌĨƌŽŵϮϬϮϮWƵďůŝĐƐƐŝƐƚĂŶĐĞ'ƌĂŶƚͿƚŽƚŚĞϮϬϮϯďƵĚŐĞƚƚŽůŽǁĞƌƚŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƐƐŽƚŚĞĂĐƚƵĂůŝŶĐƌĞĂƐĞƚŽƚŚĞďƵĚŐĞƚŝƐΨϮϴϯ͕ϯϭϬŽƌϵ͘Ϯй͘XdŚĞϮϬϮϰƉƌĞůŝŵŝŶĂƌǇďƵĚŐĞƚŝƐϵ͘ϮйŵŽƌĞƚŚĂŶƚŚĞůĂƐƚǇĞĂƌ͘dŚĞϮϬϮϰĐŽŶƚƌŝďƵƚŝŽŶŝƐϭϭйŵŽƌĞƚŚĂŶůĂƐƚǇĞĂƌ͘dŚĞĚŝĨĨĞƌĞŶĐĞŝƐƚŚĞΨϱϬ͕ϬϬϬŽĨĨƐĞƚĞǆƉŝƌŝŶŐ͘XdŚĞŐĞŶĞƌĂůŽƉĞƌĂƚŝŶŐďƵĚŐĞƚŝŶĐƌĞĂƐĞŝƐΨϭϴϯ͕ϯϭϬŽƌϳ͘ϱй͘dŚĞĚƌŝǀŝŶŐĨŽƌĐĞŽĨƚŚŝƐŝŶĐƌĞĂƐĞŝƐĂŶĂĚĚŝƚŝŽŶĂůĨƵůůͲƚŝŵĞƐƚĂĨĨƉĞƌƐŽŶ͕ƐĂůĂƌŝĞƐ͕ŝŶĐĞŶƚŝǀĞƉĂǇĨŽƌWKĨŝƌĞĨŝŐŚƚĞƌƐ͕WZ͕ǁŽƌŬĞƌƐĐŽŵƉŝŶƐƵƌĂŶĐĞ͕ĨŝŶĂŶĐŝĂůƐĞƌǀŝĐĞƐĂŶĚĐŽŵŵƵŶŝĐĂƚŝŽŶƐ͘XThere is a $20,000 increase to the special revenue pension fund contribution.XThese contributions include a $103,600 lease payment for the tower. XThese contributions include a $150,000 lease payment for the new engines. West Metro Fire Proposed 2024 BudgetXKǀĞƌƚŚĞŶĞǆƚĨĞǁǇĞĂƌƐ͕ϮϬϮϰŚĂƐƚŚĞŐƌĞĂƚĞƐƚďƵĚŐĞƚĂƌǇŝŵƉĂĐƚĚƵĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞ͕ĂĚĚŝƚŝŽŶĂůĨƵůůͲƚŝŵĞĞŵƉůŽǇĞĞĂŶĚĞǆƉŝƌĂƚŝŽŶŽĨƚŚĞϮϬϮϯŽĨĨƐĞƚĨƌŽŵƚŚĞƉƵďůŝĐĂƐƐŝƐƚĂŶĐĞŐƌĂŶƚ͘XϮϬϮϰWƌĞůŝŵŝŶĂƌǇƵĚŐĞƚƵĚŐĞƚ/ŶĐƌĞĂƐĞĨƌŽŵϮϬϮϯ;Ψϯ͕Ϭϴϭ͕ϭϵϬͿƚŽϮϬϮϰ;Ψϯ͕ϯϲϰ͕ϱϬϬͿ'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐ ΨϭϭϬ͕Ϯϳϭ ϯ͘ϱϴйĚĚŝƚŝŽŶĂů^ƚĂĨĨWĞƌƐŽŶ Ψϳϯ͕Ϭϯϵ Ϯ͘ϯϳйWĞŶƐŝŽŶ ΨϮϬ͕ϬϬϬ ͘ϲϱйŶŐŝŶĞ>ĞĂƐĞ ΨϴϬ͕ϬϬϬ Ϯ͘ϲϬйdŽƚĂů ΨϮϴϯ͕ϯϭϬ ϵ͘ϮйXΨϳϯ͕ϬϯϵŽƌϮ͘ϯϳйŽĨƚŚĞďƵĚŐĞƚŝŶĐƌĞĂƐĞŝƐĨŽƌƚŚĞĂĚĚŝƚŝŽŶĂůĨƵůůͲƚŝŵĞĞŵƉůŽǇĞĞ͘ϰ͘ϵϳйŽĨƚŚĞďƵĚŐĞƚŝŶĐƌĞĂƐĞǁĂƐĨŽƌƚŚĞĂĚĚŝƚŝŽŶĂůĞŵƉůŽǇĞĞĂŶĚŝŶĐƌĞĂƐĞƚŽƚŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞ͘ West Metro Fire Proposed 2024 BudgetXϮϬϮϱWƌŽũĞĐƚĞĚƵĚŐĞƚƵĚŐĞƚ/ŶĐƌĞĂƐĞĨƌŽŵϮϬϮϰ;Ψϯ͕ϯϲϰ͕ϱϬϬͿƚŽϮϬϮϱ;Ψϯ͕ϱϴϱ͕ϴϮϱͿ'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐ Ψϭϱϵ͕ϬϬϬ ϰ͘ϳϮйŶŐŝŶĞ>ĞĂƐĞ ΨϲϮ͕ϯϮϱ ϭ͘ϴϱйdŽƚĂů ΨϮϮϭ͕ϯϮϱ ϲ͘ϱϴйX/ŶϮϬϮϱƚŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐΨϮϭϮ͕ϯϮϱĂŶŝŶĐƌĞĂƐĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŽĨΨϲϮ͕ϯϮϱŽƌϭ͘ϴϱйŽǀĞƌƚŚĞƉƌĞůŝŵŝŶĂƌǇϮϬϮϰďƵĚŐĞƚ͘ŶĞƐƚŝŵĂƚĞŽĨƚŚĞϮϬϮϱŝŶĐƌĞĂƐĞƚŽƚŚĞĐŝƚŝĞƐ͛ƚŽƚĂůďƵĚŐĞƚĐŽŶƚƌŝďƵƚŝŽŶƐŝƐΨϮϮϭ͕ϯϮϱŽƌϲ͘ϱϴй͕ĂůƚŚŽƵŐŚƚŚŝƐĐŽƵůĚĐŚĂŶŐĞƐůŝŐŚƚůǇĂƐǁĞƌĞǀŝĞǁϮϬϮϯĂĐƚƵĂůƐ͘ West Metro Fire Proposed 2024 BudgetXdŚĞϮϬϮϲĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐΨϮϱϮ͕ϯϮϱĂŶŝŶĐƌĞĂƐĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŽĨΨϰϬ͕ϬϬϬŽƌϭ͘ϭϮйŽǀĞƌƚŚĞƉŽƚĞŶƚŝĂůϮϬϮϱĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƐ͘XdŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐĂŐĂŝŶΨϮϱϮ͕ϯϮϱŝŶϮϬϮϳ͘XdŚĞĞŶŐŝŶĞůĞĂƐĞĐŽŶƚƌŝďƵƚŝŽŶƐƐƚĂďŝůŝǌĞŝŶϮϬϮϴĂƚΨϮϴϳ͕ϯϮϱĂŶŶƵĂůůǇ͘ West Metro Fire Proposed 2024 BudgetX/ƚŝƐŝŵƉŽƌƚĂŶƚƚŽƌĞĂůŝǌĞƚŚĂƚďŽƚŚĐŝƚŝĞƐǁĞƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌĐŽŶƚƌŝďƵƚŝŶŐƚŽƚŚĞŝƌŽǁŶŵĂũŽƌĂƉƉĂƌĂƚƵƐĨƵŶĚƐ͘dŚĞůĞĂƐŝŶŐŽĨŵĂũŽƌĂƉƉĂƌĂƚƵƐŚĂƐŵŽǀĞĚĨƵŶĚŝŶŐĨƌŽŵƚŚĞĐŝƚŝĞƐ͛ĐĂƉŝƚĂůƉůĂŶƐƚŽƚŚĞtD&Z͘ West Metro Fire Proposed 2024 BudgetChanges from 2023XΨϭ͕Ϭϭϯ͕ϬϬϬ ϲϭϱϬϬͲ ZĞŐƵůĂƌ^ĂůĂƌŝĞƐΨϴϬ͕ϬϬϬŝŶĐƌĞĂƐĞ͘dŚŝƐŝŶĐůƵĚĞƐĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨĂϯйK>͕ĐŽŵƉƉĂǇŽƵƚĨŽƌŶŽŶͲĞǆĞŵƉƚĞŵƉůŽǇĞĞƐĂŶĚKdĨŽƌŶŽŶͲĞǆĞŵƉƚĞŵƉůŽǇĞĞƐ͘XΨϱϴϬ͕ϬϬϬ ϲϮϬϬϬͲ WĂƌƚͲ dŝŵĞ^ĂůĂƌŝĞƐΨϱϱ͕ϬϬϬŝŶĐƌĞĂƐĞ͘dŚŝƐŝŶĐůƵĚĞƐĂůůWKƉŽƐŝƚŝŽŶƐĂŶĚĐŽŶƐŝĚĞƌĂƚŝŽŶŽĨĂϯйK>͘XΨϭϴϬ͕ϬϬϬ ϲϮϮϬϬͲ WZΨϭϰ͕ϬϲϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶĨƵůůͲƚŝŵĞƐĂůĂƌŝĞƐ͘dŚĞƐĞĨƵůůͲƚŝŵĞĞŵƉůŽǇĞĞƐĚŽŶŽƚĞĂƌŶƌĞůŝĞĨĂƐƐŽĐŝĂƚŝŽŶƉĞŶƐŝŽŶ͘XΨϲϬ͕ϬϬϬ ϲϮϴϬϬͲ ^ŽĐŝĂů^ĞĐƵƌŝƚǇΘDĞĚŝĐĂƌĞΨϲ͕ϮϱϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶƐĂůĂƌŝĞƐ͘XΨϱ͕ϭϬϬ ϲϯϵϬϬͲ >ŽŶŐdĞƌŵŝƐĂďŝůŝƚǇΨϭϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘XΨϵϬϬ ϲϰϬϬϬͲ >ŝĨĞ/ŶƐƵƌĂŶĐĞΨϰϬϬŝŶĐƌĞĂƐĞĂŶĚŝŶĐůƵĚĞƐďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ West Metro Fire Proposed 2024 BudgetChanges from 2023XΨϭϳϬ͕ϬϬϬ ϲϰϱϬϬͲ tŽƌŬĞƌƐŽŵƉ/ŶƐƵƌĂŶĐĞΨϭϬ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘Xϲ͕ϬϬϬ ϴϬϲϬϬͲ >ĞŐĂů&ĞĞƐΨϭ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘XΨϭϰϬ͕ϬϬϬ ϴϭϴϬϬͲ ŽŵŵƵŶŝĐĂƚŝŽŶƐΨϭϬ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶĞǆƉĞĐƚĞĚŝŶĐƌĞĂƐĞƐƚŽĞǆƉĞŶĚŝƚƵƌĞƐĨŽƌ>K'/^ĂŶĚ,ĞŶŶĞƉŝŶŽƵŶƚǇZĂĚŝŽ͘XΨϯ͕ϬϬϬ ϴϯϰϬϬͲ tĂƚĞƌͬ^ĞǁĞƌΨϭ͕ϱϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘XΨϮϱ͕ϬϬϬ ϴϯϲϬϬͲ 'ĂƐΨϱ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘XΨϬ ϴϲϵϬϬͲ >ŝĐĞŶƐĞƐĂŶĚWĞƌŵŝƚƐΨϱ͕ϬϬϬĚĞĐƌĞĂƐĞĚƵĞƚŽĂƌĞŽĐĐƵƌƌŝŶŐĐŽƐƚĞǀĞƌǇƚŚƌĞĞǇĞĂƌƐĨŽƌĨŝƌĞĨŝŐŚƚĞƌůŝĐĞŶƐĞƐ͘XΨϳϬ͕ϬϬϬ ϴϬϲϬϬʹ &ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐΨϱ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ West Metro Fire Proposed 2024 Budget2024 -2028 CAPITAL PLAN X2024 – Cities’ Contributions 250,000 Beginning Fund 1,588,756Committed-692,000Assigned -361,490Expenditures-406,100Ending Fund Balance 129,166X2025 – Cities’ Contributions 250,000 Beginning Fund 1,748,581Committed-732,000Assigned-286,490Expenditures-653,425Ending Fund Balance 76,666 West Metro Fire Proposed 2024 Budget2024 -2028 CAPITAL PLAN X2026 – Cities’ Contributions 250,000Beginning Fund 1,701,081Committed-672,000Assigned-251,490Expenditures-750,925Ending Fund Balance 26,666X2027 – Cities’ Contributions 250,000Beginning Fund 1,556,081Committed-672,000Assigned-216,490Expenditures-653,425Ending Fund Balance 14,166 West Metro Fire Proposed 2024 Budget2024 -2028 CAPITAL PLAN X2028 – Cities’ Contributions 250,000Beginning Fund 1,543,581Committed-717,000Assigned-216,490Expenditures-600,925Ending Fund Balance 9,166 ((a/A) + (p/P) + (v/V) / 3) x 100 = Percentage of total budget due from specified municipalityCrystalNew HopeDistricta = municipality's avg. calls over 5 years 858 1,064 1,922p = municipality's population (2020 census) 23,330 21,986 45,316v = municipality's taxable market value in millions 2,708 2,748A = district's avg. calls over 5 years no mutual aid 1,922P = district's population (2020 census) 45,316V = district's taxable market value in millions 5,456Percentage a/A 44.6364% 55.3636%Percentage p/P 51.4829% 48.5171%Percentage v/V 49.6334% 50.3666%48.5842% 51.4158% 100.00%100.0000%Required contributions from cities $1,634,616.59 $1,729,883.41 $3,364,500.00Monthly contribution $136,218.05 $144,156.95(1) Average calls based on calls for the years 2018 through 2022 without mutual aid.(2) 2023 Taxable market values from Hennepin County report dated 12/27/2022Contributions from Cities Set to Equal:2024 General Fund Operating Budget $2,640,9002024 Capital Plan Budget $250,0002024 Pension Special Revenue Fund $200,0002024 Insurance Special Revenue Fund $10,0002024 Compensated Absences Special Revenue Fund $10,0002024 Aerial Lease$103,6002024 Engine Lease$150,0002024 Total Amount to be Contributed from Cities $3,364,500WEST METRO-FIRE RESCUE DISTRICTCost Sharing FormulaCalculation in 2023 for use in the 2024 Budget((a/A) + (p/P) + (v/V) / 3) x 100 = Percentage of total budget due from specified municipalityCrystalNew HopeDistricta = municipality's avg. calls over 5 years842 1,040 1,882p = municipality's population (2020 census)23,330 21,986 45,316v = municipality's taxable market value in millions2,402 2,382A = district's avg. calls over 5 years no mutual aid1,882P = district's population (2020 census)45,316V = district's taxable market value in millions4,784Percentage a/A44.7231% 55.2769%Percentage p/P51.4829% 48.5171%Percentage v/V50.2090% 49.7910%48.8050% 51.1950% 100.00%100.0000%Required contributions from cities$1,479,373.16 $1,551,816.84 $3,031,190.00Monthly contribution$123,281.10 $129,318.07(1) Average calls based on calls for the years 2017 through 2021 without mutual aid.(2) 2022 taxable market values from Hennepin County report dated 0812/17/2021Contributions from Cities Set to Equal:2023 General Fund Operating Budget $2,457,5902023 Capital Plan Budget $250,0002023 Pension Special Revenue Fund $180,0002023 Insurance Special Revenue Fund $10,0002023 Compensated Absences Special Revenue Fund $10,0002023 Aerial Lease$103,6002023 Engine Lease$70,000Offset from GOB Assigned for Additional Full-Time Staff-$50,0002023 Total Amount to be Contributed from Cities $3,031,190WEST METRO-FIRE RESCUE DISTRICTCost Sharing FormulaCalculation in 2022 for use in the 2023 Budget ϭ dŽ͗tD&ZŽĂƌĚŽĨŝƌĞĐƚŽƌƐ &ƌŽŵ͗ ^ĂƌĂŚ>ĂƌƐŽŶ͕&ŝƌĞŚŝĞĨ ĂƚĞ͗ DĂǇϭϬ͕ϮϬϮϯ ^ƵďũĞĐƚ͗WƌĞůŝŵŝŶĂƌǇϮϬϮϰ'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐƵĚŐĞƚ>ŝŶĞ/ƚĞŵǆƉůĂŶĂƚŽƌǇ/ŶĨŽƌŵĂƚŝŽŶ ĨŽƌŚĂŶŐĞƐĨƌŽŵϮϬϮϯ ϮϬϮϰͲϮϬϮϴĂƉŝƚĂůWůĂŶ ϮϬϮϰWƌĞůŝŵŝŶĂƌǇƵĚŐĞƚƐĂŶĚŽŶƚƌŝďƵƚŝŽŶƐ tĞƐƚDĞƚƌŽ&ŝƌĞͲZĞƐĐƵĞŝƐƚƌŝĐƚϮϬϮϰ͗ 'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐƵĚŐĞƚͲ ΨϮ͕ϲϰϬ͕ϵϬϬ ĂƉŝƚĂů&ƵŶĚŽŶƚƌŝďƵƚŝŽŶͲ ΨϮϱϬ͕ϬϬϬ ^ƉĞĐŝĂůZĞǀĞŶƵĞWĞŶƐŝŽŶ&ƵŶĚŽŶƚƌŝďƵƚŝŽŶͲ ΨϮϬϬ͕ϬϬϬ ^ƉĞĐŝĂůZĞǀĞŶƵĞ/ŶƐƵƌĂŶĐĞ&ƵŶĚŽŶƚƌŝďƵƚŝŽŶͲ 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dŚĞƌĞŝƐĂΨϮϬ͕ϬϬϬŝŶĐƌĞĂƐĞƚŽƚŚĞƐƉĞĐŝĂůƌĞǀĞŶƵĞƉĞŶƐŝŽŶĨƵŶĚĐŽŶƚƌŝďƵƚŝŽŶ͘ dŚĞƐĞĐŽŶƚƌŝďƵƚŝŽŶƐŝŶĐůƵĚĞĂΨϭϬϯ͕ϲϬϬůĞĂƐĞƉĂǇŵĞŶƚĨŽƌƚŚĞƚŽǁĞƌ͘ dŚĞƐĞĐŽŶƚƌŝďƵƚŝŽŶƐŝŶĐůƵĚĞĂΨϭϱϬ͕ϬϬϬůĞĂƐĞƉĂǇŵĞŶƚĨŽƌƚŚĞŶĞǁĞŶŐŝŶĞƐ͘dŚŝƐŝƐĂŶΨϴϬ͕ϬϬϬŝŶĐƌĞĂƐĞŽǀĞƌϮϬϮϯ͘ Memorandum Ϯ KǀĞƌƚŚĞŶĞǆƚĨĞǁǇĞĂƌƐ͕ϮϬϮϰŚĂƐƚŚĞŐƌĞĂƚĞƐƚďƵĚŐĞƚĂƌǇŝŵƉĂĐƚĚƵĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞ͕ĂĚĚŝƚŝŽŶĂůĨƵůůͲƚŝŵĞĞŵƉůŽǇĞĞ ĂŶĚĞǆƉŝƌĂƚŝŽŶŽĨƚŚĞϮϬϮϯŽĨĨƐĞƚĨƌŽŵƚŚĞƉƵďůŝĐĂƐƐŝƐƚĂŶĐĞŐƌĂŶƚ͘ ϮϬϮϰWƌĞůŝŵŝŶĂƌǇƵĚŐĞƚ ƵĚŐĞƚ/ŶĐƌĞĂƐĞĨƌŽŵϮϬϮϯ;Ψϯ͕Ϭϴϭ͕ϭϵϬͿƚŽϮϬϮϰ;Ψϯ͕ϯϲϰ͕ϱϬϬͿ 'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐ ΨϭϭϬ͕Ϯϳϭ ϯ͘ϱϴй ĚĚŝƚŝŽŶĂů^ƚĂĨĨWĞƌƐŽŶ Ψϳϯ͕Ϭϯϵ Ϯ͘ϯϳй WĞŶƐŝŽŶ ΨϮϬ͕ϬϬϬ ͘ϲϱй ŶŐŝŶĞ>ĞĂƐĞ ΨϴϬ͕ϬϬϬ Ϯ͘ϲϬй dŽƚĂů ΨϮϴϯ͕ϯϭϬ ϵ͘Ϯй Ψϳϯ͕ϬϯϵŽƌϮ͘ϯϳйŽĨƚŚĞďƵĚŐĞƚŝŶĐƌĞĂƐĞŝƐĨŽƌƚŚĞĂĚĚŝƚŝŽŶĂůĨƵůůͲƚŝŵĞĞŵƉůŽǇĞĞ͘ϰ͘ϵϳйŽĨƚŚĞďƵĚŐĞƚŝŶĐƌĞĂƐĞǁĂƐĨŽƌ ƚŚĞĂĚĚŝƚŝŽŶĂůĞŵƉůŽǇĞĞĂŶĚŝŶĐƌĞĂƐĞƚŽƚŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞ͘ ϮϬϮϱWƌŽũĞĐƚĞĚƵĚŐĞƚ ƵĚŐĞƚ/ŶĐƌĞĂƐĞĨƌŽŵϮϬϮϰ;Ψϯ͕ϯϲϰ͕ϱϬϬͿƚŽϮϬϮϱ;Ψϯ͕ϱϴϱ͕ϴϮϱͿ 'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐ Ψϭϱϵ͕ϬϬϬ ϰ͘ϳϮй ŶŐŝŶĞ>ĞĂƐĞ ΨϲϮ͕ϯϮϱ ϭ͘ϴϱй dŽƚĂů ΨϮϮϭ͕ϯϮϱ ϲ͘ϱϴй /ŶϮϬϮϱƚŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐΨϮϭϮ͕ϯϮϱĂŶŝŶĐƌĞĂƐĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŽĨΨϲϮ͕ϯϮϱŽƌϭ͘ϴϱйŽǀĞƌ ƚŚĞƉƌĞůŝŵŝŶĂƌǇϮϬϮϰďƵĚŐĞƚ͘ŶĞƐƚŝŵĂƚĞŽĨƚŚĞϮϬϮϱŝŶĐƌĞĂƐĞƚŽƚŚĞĐŝƚŝĞƐ͛ƚŽƚĂůďƵĚŐĞƚĐŽŶƚƌŝďƵƚŝŽŶƐŝƐΨϮϮϭ͕ϯϮϱŽƌ ϲ͘ϱϴй͕ĂůƚŚŽƵŐŚƚŚŝƐĐŽƵůĚĐŚĂŶŐĞƐůŝŐŚƚůǇĂƐǁĞƌĞǀŝĞǁϮϬϮϯĂĐƚƵĂůƐ͘ dŚĞϮϬϮϲĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐΨϮϱϮ͕ϯϮϱĂŶŝŶĐƌĞĂƐĞƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŽĨΨϰϬ͕ϬϬϬŽƌϭ͘ϭϮйŽǀĞƌ ƚŚĞƉŽƚĞŶƚŝĂůϮϬϮϱĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƐ͘ dŚĞĐŝƚŝĞƐ͛ĐŽŶƚƌŝďƵƚŝŽŶƚŽƚŚĞĞŶŐŝŶĞůĞĂƐĞŝƐĂŐĂŝŶΨϮϱϮ͕ϯϮϱŝŶϮϬϮϳ͘ dŚĞĞŶŐŝŶĞůĞĂƐĞĐŽŶƚƌŝďƵƚŝŽŶƐƐƚĂďŝůŝǌĞŝŶϮϬϮϴĂƚΨϮϴϳ͕ϯϮϱĂŶŶƵĂůůǇ͘ /ƚŝƐŝŵƉŽƌƚĂŶƚƚŽƌĞĂůŝǌĞƚŚĂƚďŽƚŚĐŝƚŝĞƐǁĞƌĞƌĞƐƉŽŶƐŝďůĞĨŽƌĐŽŶƚƌŝďƵƚŝŶŐƚŽƚŚĞŝƌŽǁŶŵĂũŽƌĂƉƉĂƌĂƚƵƐĨƵŶĚƐ͘dŚĞ ůĞĂƐŝŶŐŽĨŵĂũŽƌĂƉƉĂƌĂƚƵƐŚĂƐŵŽǀĞĚĨƵŶĚŝŶŐĨƌŽŵƚŚĞĐŝƚŝĞƐ͛ĐĂƉŝƚĂůƉůĂŶƐƚŽƚŚĞtD&Z͘ KƵƌďƵĚŐĞƚŝŶĐƌĞĂƐĞƐĨŽƌƚŚĞŶĞǁƐƚĂĨĨƉĞŽƉůĞŚĂǀĞďƌŽƵŐŚƚŵĂŶǇďĞŶĞĨŝƚƐƚŽƚŚĞtD&ZŝŶĐůƵĚŝŶŐƚŚĞĨŽůůŽǁŝŶŐĨŽƌƚŚĞ ĨƵůůͲƚŝŵĞĐĂƉƚĂŝŶŽĨƚƌĂŝŶŝŶŐ͗ x DĂŶĂŐĞƐĂƌĞĐƌƵŝƚĂŶĚĂƉƉƌĞŶƚŝĐĞĐůĂƐƐƐŝŵƵůƚĂŶĞŽƵƐůǇ͕ŚĞůƉŝŶŐƚŽĂĚĚƌĞƐƐWKƐƚĂĨĨŝŶŐƐŚŽƌƚĂŐĞƐĐƌĞĂƚĞĚďǇ Ks/ĂŶĚĐƵƌƌĞŶƚĨŝƌĞƐĞƌǀŝĐĞƌĞƚĞŶƚŝŽŶŝƐƐƵĞƐ͘ x ůůŽǁƐŽƵƌƌĞĐƌƵŝƚĐůĂƐƐƚŽŚĂǀĞĂƐŝŶŐůĞƉŽŝŶƚŽĨĐŽŶƚĂĐƚĂŶĚĚĞĚŝĐĂƚĞĚƉƌŽŐƌĂŵŵĂŶĂŐĞƌ͕ƉƌĞǀŝŽƵƐůǇŽƵƌ ƚƌĂŝŶŝŶŐĐŚŝĞĨǁĂƐŵĂŶĂŐŝŶŐďŽƚŚƚŚĞƌĞĐƌƵŝƚƐ͕ĨŝƌĞĂĐĂĚĞŵǇ͕ŶĞǁŽĨĨŝĐĞƌ͕ĂŶĚĚĞƉƚůĞǀĞůƚƌĂŝŶŝŶŐ͘ x ůůŽǁƐtD&ZƚŽƌĞǀŝĞǁ͕ƌĞǀŝƐĞ͕ĂŶĚƵƉĚĂƚĞƌĞĐƌƵŝƚƚƌĂŝŶŝŶŐƉƌŽŐƌĂŵƐ͕ŝŶĐůƵĚŝŶŐĨƵƚƵƌĞĨŝƌĞĂĐĂĚĞŵǇŶĞĞĚƐĂŶĚ ĐŚĂŶŐĞƐ͘ x /ŶĐƌĞĂƐĞƐƚŚĞƚƌĂŝŶŝŶŐĚŝǀŝƐŝŽŶƐĂďŝůŝƚǇƚŽŚŽůĚŽŶĞŽŶŽŶĞƚƌĂŝŶŝŶŐƐĞƐƐŝŽŶƐ͘dŚĞƐĞƐĞƐƐŝŽŶƐĂƌĞŽĨƚĞŶƌĞůĂƚĞĚƚŽ ƌĞƚƵƌŶƚŽǁŽƌŬĂƐƐĞƐƐŵĞŶƚƐ͕ƐŬŝůůƐĐŚĞĐŬŽĨĨƐ͕ĨŝŶĂůŵĞĚŝĐĂůƌĞƐƉŽŶƐĞĂƉƉƌŽǀĂů͕ĂŶĚƌĞŵĞĚŝĂůƚƌĂŝŶŝŶŐ͘ x /ŶĐƌĞĂƐĞƐƚŚĞůĞǀĞůŽĨƌĞƐƉŽŶƐĞĚƵƌŝŶŐƐƚĂĨĨŚŽƵƌƐ͕ǁĞŚĂǀĞĂŶĂĚĚŝƚŝŽŶĂůĨŝƌĞĨŝŐŚƚĞƌŽŶŽƵƌŵĂũŽƌĂƉƉĂƌĂƚƵƐ͕ ǁŚŝĐŚĂůůŽǁƐƵƐƚŽĨŝůůĐƌŝƚŝĐĂůĐŽŵŵĂŶĚƐƚĂĨĨƌŽůĞƐ͕ƌĞƐƵůƚŝŶŐŝŶĂƐĂĨĞƌŵŽƌĞĞĨĨŝĐŝĞŶƚĨŝƌĞŐƌŽƵŶĚĂŶĚďĞƚƚĞƌ ŽƵƚĐŽŵĞƐĨŽƌŽƵƌĐŽŵŵƵŶŝƚǇ͘ x dŚŝƐĐĂƉƚĂŝŶŚĂƐďĞĞŶĂďůĞƚŽĚĞĚŝĐĂƚĞŵŽƌĞƚŝŵĞĂŶĚĞŶĞƌŐǇƚŽƌĞǀŝĞǁŝŶŐ͕ƵƉĚĂƚŝŶŐ͕ĂŶĚůĂǇŝŶŐŶĞǁŐƌŽƵŶĚ ǁŽƌŬĨŽƌŽƵƌĞŵĞƌŐĞŶĐǇŵĂŶĂŐĞŵĞŶƚƉůĂŶƐ;tD&Z͕EĞǁ,ŽƉĞ͕ĂŶĚƌǇƐƚĂůͿ͘ x ,ĞůƉƐŽƌŐĂŶŝǌĞũŽŝŶƚĂĐƚŝǀĞƚŚƌĞĂƚƚƌĂŝŶŝŶŐďĞƚǁĞĞŶtD&Z͕ƌǇƐƚĂů͕ĂŶĚEĞǁ,ŽƉĞ͘ ϯ x ZĞƐĞĂƌĐŚĞĚĂŶĚǁƌŽƚĞĂŐƌĂŶƚƉƌŽƉŽƐĂůĨŽƌĂŶĞǁKĞƋƵŝƉŵĞŶƚ͘ x 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EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ΨϭϰϬ͕ϬϬϬ ϴϭϴϬϬͲŽŵŵƵŶŝĐĂƚŝŽŶƐ ΨϭϬ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶĞǆƉĞĐƚĞĚŝŶĐƌĞĂƐĞƐƚŽĞǆƉĞŶĚŝƚƵƌĞƐ &Žƌ>K'/^ĂŶĚ,ĞŶŶĞƉŝŶŽƵŶƚǇZĂĚŝŽ͘ hƚŝůŝƚŝĞƐ ΨϮϭ͕ϬϬϬϴϯϮϬϬͲůĞĐƚƌŝĐEŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ Ψϳ͕ϬϬϬ ϴϯϰϬϬͲtĂƚĞƌͬ^ĞǁĞƌ Ψϭ͕ϱϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ΨϮϱ͕ϬϬϬ ϴϯϲϬϬͲ'ĂƐ Ψϱ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ŽŶƚƌĂĐƚDĂŝŶƚĞŶĂŶĐĞ Ψϭϱ͕ϬϬϬ ϴϰϬϬϬͲƵŝůĚŝŶŐDĂŝŶƚĞŶĂŶĐĞ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ΘůĞĂŶŝŶŐ ΨϭϬ͕ϬϬϬ ϴϰϮϬϬͲƵŝůĚŝŶŐZĞƉĂŝƌƐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ΨϮϰ͕ϬϬϬ ϴϰϰϬϬͲƋƵŝƉŵĞŶƚZĞƉĂŝƌƐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ Ψϯϭ͕ϬϬϬ ϴϰϲϬϬͲsĞŚŝĐůĞZĞƉĂŝƌƐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ZĞŶƚ Ψϯ͕ϬϬϬ ϴϱϰϬϬͲKĨĨŝĐĞƋƵŝƉŵĞŶƚZĞŶƚ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ƵĞƐ͕^ƵďƐĐƌŝƉƚŝŽŶƐ͕ΘdƌĂŝŶŝŶŐ Ψϯ͕ϬϬϬ ϴϲϮϬϬͲƵĞƐΘ^ƵďƐĐƌŝƉƚŝŽŶƐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ Ψϭ͕ϬϬϬ ϴϲϰϬϬͲǁĂƌĚƐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶƚŚĞƵƐĞŽĨƐƉĞĐŝĂůĚŽŶĂƚŝŽŶĨƵŶĚƐ͘ ΨϯϬ͕ϬϬϬ ϴϲϴϬϬͲdƌĂŝŶŝŶŐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂĂŶĚƌĞŝŵďƵƌƐĞŵĞŶƚƐĨƌŽŵ ƚŚĞƐƚĂƚĞ͘ ΨϬ ϴϲϵϬϬͲ>ŝĐĞŶƐĞƐΘWĞƌŵŝƚƐ Ψϱ͕ϬϬϬĚĞĐƌĞĂƐĞĚƵĞƚŽĂƌĞŽĐĐƵƌƌŝŶŐĐŽƐƚĞǀĞƌǇƚŚƌĞĞǇĞĂƌƐ ĨŽƌĨŝƌĞĨŝŐŚƚĞƌůŝĐĞŶƐĞƐ͘ DŝƐĐĞůůĂŶĞŽƵƐ ΨϯϬϬ ϴϳϰϬϬʹWƌŝŶƚŝŶŐ EŽĐŚĂŶŐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ϲ ΨϳϬ͕ϬϬϬ ϴϳϳϬϬͲ&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐ Ψϱ͕ϬϬϬŝŶĐƌĞĂƐĞďĂƐĞĚŽŶŚŝƐƚŽƌŝĐĂůĚĂƚĂ͘ ΨϮ͕ϲϰϬ͕ϵϬϬdŽƚĂů'ĞŶĞƌĂůKƉĞƌĂƚŝŶŐǆƉĞŶĚŝƚƵƌĞƐ h'd,/^dKZz ϮϬϬϱʹĞƌŝĂůƉƵƚŝŶƚŽƐĞƌǀŝĐĞǁͬƌĞƉůĂĐĞŵĞŶƚďĞƚǁĞĞŶϮϬϮϱĂŶĚϮϬϯϬ ϭ͕ϱϬϬ͕ϬϬϬ ϮϬϬϳʹ^ƉƵƚŝŶƚŽƐĞƌǀŝĐĞĐŽƐƚƉĂƌƚŝĂůůǇŽĨĨƐĞƚďǇ&D'ƌĂŶƚǁͬƌĞƉůĂĐĞŵĞŶƚϮϬϮϬ ϱϬϬ͕ϬϬϬ ϮϬϬϴʹdƵƌŶKƵƚ'ĞĂƌƉƵƚŝŶƚŽƐĞƌǀŝĐĞďĞŐŝŶŶŝŶŐϮϬϭϱƌĞƉůĂĐĞϭϬͲϭϱƐĞƚƐƉĞƌǇĞĂƌ ϯϱ͕ϬϬϬ ϮϬϭϮʹWůĂĐĞĚϰĞŶŐŝŶĞƐŝŶƚŽƐĞƌǀŝĐĞǁͬƌĞƉůĂĐĞŵĞŶƚďĞƚǁĞĞŶϮϬϮϱĂŶĚϮϬϯϮ ϯ͕ϬϬϬ͕ϬϬϬ ϮϬϭϮʹZĞŵŽǀĞĚ,ĞĂǀǇZĞƐĐƵĞƐĨƌŽŵDĂũŽƌƉƉĂƌĂƚƵƐWůĂŶ ;ϭ͕ϰϬϬ͕ϬϬϬͿ ϮϬϭϮͲ^ƋƵĂĚϭƉƵƚŝŶƚŽƐĞƌǀŝĐĞϱϬϬ͕ϬϬϬ ϮϬϭϯͲĂƉŝƚĂů&ƵŶĚŝŶŐWůĂŶǁͬ&ŽƌĞĐĂƐƚƚŽϮϬϮϱĞǀĞůŽƉĞĚ ϮϰϬ͕ϬϬϬ ϮϬϭϯͲĚĚĞĚϭ>ŝŐŚƚZĞƐĐƵĞŝŶƚŽĂƉŝƚĂůWůĂŶǁͬƌĞƉůĂĐĞŵĞŶƚďĞƚǁĞĞŶϮϬϮϯͲϮϬϮϱ ϭϬϬ͕ϬϬϬ ϮϬϭϰʹĚĚĞĚϮ>ŝŐŚƚZĞƐĐƵĞƐŝŶƚŽĂƉŝƚĂůWůĂŶǁͬƌĞƉůĂĐĞŵĞŶƚďĞƚǁĞĞŶϮϬϮϯͲϮϬϮϱ ϮϬϬ͕ϬϬϬ ϮϬϭϰʹůŽƐĞĚDĂũŽƌƉƉĂƌĂƚƵƐ&ƵŶĚĂŶĚŵŽǀĞĚĨƵŶĚďĂůĂŶĐĞƚŽĐĂƉŝƚĂůƉůĂŶ ;ϭϬϬ͕ϬϬϬͿ ϮϬϭϰʹƌĞĂƚĞĚ^ƉĞĐŝĂůZĞǀĞŶƵĞWĞŶƐŝŽŶ&ƵŶĚϮϱϬ͕ϬϬϬ ϮϬϭϳʹ^ĂůĞŽĨϮϬϬϰĞƌŝĂů;ϯϯϳ͕ϱϬϬͿ ϮϬϭϳʹ>ĞĂƐĞdŽǁĞƌϭ͕Ϭϰϵ͕ϲϮϬ ϮϬϭϵͲŽĂƌĚƉƉƌŽǀĞĚ&ƵŶĚWŽůŝĐǇ^ƚĂƚĞŵĞŶƚƐ ϮϬϮϬʹƌĞĂƚĞĚ^ƉĞĐŝĂůZĞǀĞŶƵĞ/ŶƐƵƌĂŶĐĞ&ƵŶĚ ϰϬ͕ϬϬϬ ϮϬϮϬͲƌĞĂƚĞĚ^ƉĞĐŝĂůZĞǀĞŶƵĞŽŵƉĞŶƐĂƚĞĚďƐĞŶĐĞƐ&ƵŶĚ ϭϬ͕ϬϬϬ ϮϬϮϬʹWƵƌĐŚĂƐĞ^ϰϱϬ͕ϬϬϬ ϮϬϮϭʹŶŐŝŶĞ>ĞĂƐĞϮ͕ϲϭϵ͕ϰϰϰ EEh>W/d>yWE/dhZ^ͬKDD/dDEd^ dŚĞtD&ZŚĂƐƚŚĞĨŽůůŽǁŝŶŐƌĞŽĐĐƵƌƌŝŶŐĂŶŶƵĂůĐĂƉŝƚĂůĞǆƉĞŶĚŝƚƵƌĞƐŽƌƐĂǀŝŶŐƐĨŽƌĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞƐ͗ ^ ΨϱϬ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ ZĞƐĐƵĞdƌƵĐŬƐ;ϯͿ ΨϯϬ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ ZĂĚŝŽƐ ΨϮϬ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ dŚĞƌŵĂů/ŵĂŐĞƌƐ Ψϱ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ ,ǇĚƌĂƵůŝĐdŽŽůƐ ΨϭϬ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ ϳ EŽǌǌůĞƐͬ,ŽƐĞ ΨϮϬ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ WƵďůŝĐĚƵĐĂƚŝŽŶWƌŽƉƐ Ψϱ͕ϬϬϬͲ^ĂǀŝŶŐƚŽǁĂƌĚƐĨƵƚƵƌĞĞǆƉĞŶĚŝƚƵƌĞ ΨϮ͕ϱϬϬ dƵƌŶŽƵƚ'ĞĂƌ ΨϱϬ͕ϬϬϬ >K'/^ͬĚŵŝŶͬ/d ΨϮϬ͕ϬϬϬ KǀĞƌŚĞĂĚŽŽƌDĂŝŶƚĞŶĂŶĐĞ Ψϱ͕ϬϬϬ hƚŝůŝƚǇͬ^ƚĂĨĨsĞŚŝĐůĞ Ψϱϱ͕ϬϬϬ dŽƚĂů ΨϮϳϮ͕ϱϬϬ ϮϬϮϰ/d/^͛W/d>KEdZ/hd/KEϮϱϬ͕ϬϬϬ KDD/ddW/d>&hE^EK&ϮϬϮϯ ĂƚŚƌŽŽŵ ϳϮ͕ϬϬϬ 'ĂƐͬůĞĐƚƌŝĐdŽŽůƐ ϰϬ͕ϬϬϬ ^ ϱϬ͕ϬϬϬ dĞůĞƉŚŽŶĞƐϭϬ͕ϬϬϬ ZĂĚŝŽƐ ϴϬ͕ϬϬϬ WƵďůŝĐĚƵĐĂƚŝŽŶWƌŽƉƐ ϱ͕ϬϬϬ ZĞƐĐƵĞƐ ϮϰϬ͕ϬϬϬ DĂũŽƌƉƉĂƌĂƚƵƐdŝƌĞƐ ϱ͕ϬϬϬ dŽƚĂůŽŵŵŝƚƚĞĚ&ƵŶĚƐ ϱϬϮ͕ϬϬϬ ϮϬϮϯʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶƐϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϵϱϳ͕ϬϬϲ ŽŵŵŝƚƚĞĚ ͲϱϬϮ͕ϬϬϬ ƐƐŝŐŶĞĚ Ͳϰϯϲ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ ͲϴϳϮ͕ϯϱϬ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ ϭϰϲ͕ϭϲϲ ϮϬϮϰͲϮϬϮϴW/d>W>E ϮϬϮϰʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶƐϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϱϴϴ͕ϳϱϲ ŽŵŵŝƚƚĞĚ ͲϲϵϮ͕ϬϬϬ ƐƐŝŐŶĞĚ Ͳϯϲϭ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ ͲϰϬϲ͕ϭϬϬ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ ϭϮϵ͕ϭϲϲ ϮϬϮϱʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶƐϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϳϰϴ͕ϱϴϭ ŽŵŵŝƚƚĞĚ ͲϳϯϮ͕ϬϬϬ ƐƐŝŐŶĞĚ ͲϮϴϲ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ Ͳϲϱϯ͕ϰϮϱ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ ϳϲ͕ϲϲϲ ϮϬϮϲʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶƐϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϳϬϭ͕Ϭϴϭ ŽŵŵŝƚƚĞĚ ͲϲϳϮ͕ϬϬϬ ƐƐŝŐŶĞĚ ͲϮϱϭ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ ͲϳϱϬ͕ϵϮϱ ϴ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ Ϯϲ͕ϲϲϲ ϮϬϮϳʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶƐϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϱϱϲ͕Ϭϴϭ ŽŵŵŝƚƚĞĚ ͲϲϳϮ͕ϬϬϬ ƐƐŝŐŶĞĚ ͲϮϭϲ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ Ͳϲϱϯ͕ϰϮϱ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ ϭϰ͕ϭϲϲ ϮϬϮϴʹŝƚŝĞƐ͛ŽŶƚƌŝďƵƚŝŽŶϮϱϬ͕ϬϬϬ ĞŐŝŶŶŝŶŐ&ƵŶĚ ϭ͕ϱϰϯ͕ϱϴϭ ŽŵŵŝƚƚĞĚ Ͳϳϭϳ͕ϬϬϬ ƐƐŝŐŶĞĚ ͲϮϭϲ͕ϰϵϬ ǆƉĞŶĚŝƚƵƌĞƐ ͲϲϬϬ͕ϵϮϱ ŶĚŝŶŐ&ƵŶĚĂůĂŶĐĞ ϵ͕ϭϲϲ ^d&&ͬhd/>/dzs,/>^ &ƵŶĚŝŶŐĨŽƌƚŚĞƌĞƉůĂĐĞŵĞŶƚŽĨƚŚĞĨŽůůŽǁŝŶŐƐƚĂĨĨ͕ƵƚŝůŝƚǇ͕ŐƌĂƐƐĂŶĚůŝŐŚƚƌĞƐĐƵĞǀĞŚŝĐůĞƐŝƐŝŶĐůƵĚĞĚĂƐƉĂƌƚŽĨƚŚĞĐĂƉŝƚĂů ƉůĂŶ͘ ^d&&s,/>^ zZ D<ͬDK> h^ ZW>DEdzZ ZW>DEdK^d Ͳϭ ϮϬϭϵ dŽǇŽƚĂ,ŝŐŚůĂŶĚĞƌ ŽŵŵĂŶĚ ϮϬϯϭ Ψϱϱ͕ϬϬϬ ͲϮ ϮϬϭϵ &ŽƌĚ&ͲϭϱϬ ŽŵŵĂŶĚ ϮϬϯϬ Ψϱϱ͕ϬϬϬ Ͳϯ ϮϬϭϰ &ŽƌĚǆƉůŽƌĞƌ ŽŵŵĂŶĚ ϮϬϮϰ Ψϱϱ͕ϬϬϬ Ͳϰ ϮϬϭϯ &ŽƌĚ&ͲϭϱϬ /ŶƐƉĞĐƚŝŽŶ ϮϬϮϰ Ψϱϱ͕ϬϬϬ Ͳϱ ϮϬϭϱ ŚĞǀǇdĂŚŽĞ ŽŵŵĂŶĚ ϮϬϮϳ Ψϱϱ͕ϬϬϬ Ͳϲ ϮϬϭϳ ŚĞǀǇdĂŚŽĞ ŽŵŵĂŶĚ ϮϬϮϵ Ψϱϱ͕ϬϬϬ Ͳϳ ϮϬϭϲ ŚĞǀǇdĂŚŽĞ ŽŵŵĂŶĚ ϮϬϮϴ Ψϱϱ͕ϬϬϬ hͲϭϭ ϮϬϮϬ ŚĞǀǇ^ŝůǀĞƌĂĚŽ hƚŝůŝƚǇ ϮϬϯϮ Ψϱϱ͕ϬϬϬ hͲϯϭ ϮϬϭϯ &ŽƌĚ&ͲϯϱϬ hƚŝůŝƚǇ ϮϬϮϲ Ψϱϱ͕ϬϬϬ hͲϮϭ ϮϬϭϭ &ŽƌĚ&ͲϯϱϬŝĞƐĞů hƚŝůŝƚǇ ϮϬϮϰ Ψϱϱ͕ϬϬϬ hͲϯϮ'Z^^ ϮϬϬϵ &ŽƌĚ&ͲϯϱϬŝĞƐĞů 'ƌĂƐƐ ϮϬϮϱ Ψϲϱ͕ϬϬϬ ZͲϭϭ ϮϬϭϯ &ŽƌĚ&ͲϯϱϬ >ŝŐŚƚZĞƐĐƵĞ ϮϬϮϱ ΨϭϮϬ͕ϬϬϬ ZͲϮϭ ϮϬϭϰ &ŽƌĚ&ͲϯϱϬ >ŝŐŚƚZĞƐĐƵĞ ϮϬϮϲ ΨϭϮϬ͕ϬϬϬ ZͲϯϭ ϮϬϭϰ &ŽƌĚ&ͲϯϱϬ >ŝŐŚƚZĞƐĐƵĞ ϮϬϮϳ ΨϭϮϬ͕ϬϬϬ D:KZWWZdh^ /ŶϮϬϭϰŝƚǁĂƐƌĞĂĨĨŝƌŵĞĚďǇďŽƚŚĐŝƚŝĞƐƚŚĂƚĞĂĐŚĐŝƚǇǁŽƵůĚĨƵŶĚƚŚĞŝƌƌĞƐƉĞĐƚŝǀĞƉŽƌƚŝŽŶƐŽĨƚŚĞĐŽƐƚƐŽĨƌĞƉůĂĐĞŵĞŶƚ ŽĨŵĂũŽƌĞƋƵŝƉŵĞŶƚƌĂƚŚĞƌƚŚĂŶŚĂǀĞƚŚĞŝƐƚƌŝĐƚƐĂǀĞĨŽƌƚŚĞƐĞƉƵƌĐŚĂƐĞƐ͘dŚĞĨŽůůŽǁŝŶŐĞƋƵŝƉŵĞŶƚŝƐĐŽŶƐŝĚĞƌĞĚ ŵĂũŽƌĂƉƉĂƌĂƚƵƐ͗ D:KZWWZdh^ zZ D<ͬDK> h^ ZW>DEdzZ ZW>DEdK^d ŶŐŝŶĞϭ ϮϬϮϯ WŝĞƌĐĞŶĨŽƌĐĞƌ WƵŵƉĞƌ ϮϬϯϮ ϭ͕ϱϬϬ͕ϬϬϬ ŶŐŝŶĞϮ ϮϬϮϯ WŝĞƌĐĞŶĨŽƌĐĞƌ WƵŵƉĞƌ ϮϬϯϮ ϭ͕ϱϬϬ͕ϬϬϬ ŶŐŝŶĞϯ ϮϬϮϯ WŝĞƌĐĞŶĨŽƌĐĞƌ WƵŵƉĞƌ ϮϬϯϮ ϭ͕ϱϬϬ͕ϬϬϬ ŶŐŝŶĞϰ ϮϬϮϯ WŝĞƌĐĞŶĨŽƌĐĞƌ WƵŵƉĞƌ ϮϬϯϮ ϭ͕ϱϬϬ͕ϬϬϬ ^ƋƵĂĚϭ ϮϬϭϮ ͲKEͬYƵĞƐƚ ,ĞĂǀǇZĞƐĐƵĞ ϮϬϯϮ ϭ͕ϱϬϬ͕ϬϬϬ dŽǁĞƌϭ;>ĞĂƐĞͿ ϮϬϭϳ WŝĞƌĐĞͬƌƌŽǁyd WůĂƚĨŽƌŵ ϮϬϮϲ Ϯ͕ϬϬϬ͕ϬϬϬ West Metro Fire-Rescue District Preliminary 2024 General Operating Budget, 250,000 Capital, Special Pension, Insurance, and Compensated Absences Funds 2016 2016 2017 2017 2018 2018 2019 2019 2020 2020 2021 2021 2022 2022 2023 2023 2023 2023 2024 2024 Approved Actual Approved Actual Approved Actual Approved Actual Approved Actual Approved Actual Approved Actual Approved Actual Changes from 202ditional Full-Time Posi Preliminary Changes from 2023 Revenue 50100 - City Contribution Operating 1,646,800 1,646,800 1,736,900 1,736,900 1,822,250 1,822,250 1,928,700 1,928,700 2,030,650 2,030,649.96 2,120,450 2,120,450 2,208,500 2,208,500 2,457,590 249,090 92,590 2,640,900 183,310 City Contribution Special Revenue Pension Fund 220,000 220,000 200,000 200,000 200,000 200,000 200,000 200,000 180,000 180,000.00 180,000 180,000 200,000 200,000 180,000 -20,000 200,000 20,000 City Contribution Capital 175,000 175,000 150,000 150,000 170,000 170,000 190,000 190,000 210,000 210,000.00 230,000 230,000 250,000 250,000 250,000 250,000 Other Capital 16,773.24 City Contribution Special Revenue Insurance Fund 40,000 40,000.00 30,000 30,000 10,000 10,000 10,000 10,000 Other Special Revenue Insurance 4,033.00 City Contribution Special Revenue Compensated Absences Fund 10,000 10,000.00 10,000 10,000 10,000 10,000 10,000 10,000 Tower Lease 103,600 103,600 103,600 103,600 103,600 103,600 103,600 103,600.00 103,600 103,600 103,600 103,600 103,600 103,600 Engine Lease 70,000 70,000 150,000 80,000 Special Revenue Fund 30,000.00 50110 - County Grants - General 18,150 39,567 19,964 100,356 11,845.08 598,207.35 24,430.40 50115 Refunds and Reinbursements 7,201 4,523 3,388 119,737.24 12,444.40 17,499.99 59999 - Gain/loss on sale of equipment 54002 - Proceeds - Sale of Capital Assets 5,060 348,428 50800 - Fire Department Contributions 31,817 Investment Income 4,571 2,257 3,109 6,482 1,261.82 22.53 942.40 51000 - Misc Income 4,695 119 4,539 100 105.94 965.50 445.69 Total Revenue 2,041,800 2,106,093 2,190,500 2,588,071 2,295,850 2,327,985 2,422,300 2,532,626 2,574,250 2,758,006.28 2,674,050 3,285,689.78 2,782,100 2,825,418 3,081,190 299,090 92,590 3,364,500 283,310 Assigned for Additional Full-Time Staff 100,000 -50,000 -50,000 -50,000 Expenditures 3,031,190 249,090 42,590 3,364,500 333,310 Personnel 61500 - Regular Salaries 612,000 648,970 654,000 674,783 689,000 697,008 721,000 732,264 749,000 758,693.64 785,000 800,269.71 822,000 850,730.26 933,000 111,000 52,337 1,013,000 80,000 61501 - Severance 62000 - Part - Time Salaries 340,000 329,171 361,800 405,326 380,000 395,382 405,000 463,726 440,000 629,686.46 460,000 526,514.24 490,000 518,076.62 525,000 35,000 580,000 55,000 62001 - Part Time Inspectors 0 0 0 0 0 0 0 0 0.00 0 0 62200 - PERA 100,000 100,753 106,000 108,588 118,650 112,916 122,200 124,405 132,600 135,045.06 141,300 142,411.39 145,500 151,355.46 165,940 20,440 9,568 180,000 14,060 62800 - Social Security & Medicare 35,000 34,467 36,000 40,391 40,000 39,965 41,500 45,782 44,500 58,882.29 46,600 51,548.87 49,500 52,209.58 53,750 4,250 800 60,000 6,250 63000 - Fire Pension 0 0 0 0 0 0 0 0 0.00 0 0 63200 - Flex Spending 65500 - Uniforms 7,000 7,602 7,000 6,491 7,000 7,081 9,000 10,443 9,000 5,703.48 9,000 10,733.79 9,000 9,679.75 10,000 1,000 1,000 10,000 Insurance 63500 - Health Savings Account - HSA 5,000 5,000 5,000 5,000 5,000 4,500 5,000 4,500.00 5,000 4,500.00 5,000 6,500.00 5,500 500 1,000 5,500 63600 - Dental Insurance 63800 - Health Insurance 86,000 77,283 81,000 60,603 64,000 63,644 77,000 73,947 88,550 76,217.51 88,550 89,266.00 99,000 99,507.18 135,000 36,000 26,735 135,000 63900 - Long Term Disability 4,000 0 4,000 4,000 0 4,000 0 4,000 4,265.30 4,000 4,315.74 4,000 4,165.51 5,000 1,000 1,000 5,100 100 64000 - Life Insurance 600 210 600 210 600 210 400 210 400 210.00 400 210.00 400 924.63 500 100 150 900 400 64500 - Workers Comp Insurance 58,000 74,087 58,000 79,582 78,000 85,396 90,000 90,708 100,000 93,580.00 110,000 134,175.00 134,000 164,828.00 160,000 26,000 170,000 10,000 65000 - Unemployment Insurance Supplies 70500 - Office Supplies 2,500 3,162 2,500 2,006 2,500 1,495 2,500 1,861 2,500 2,378.51 2,300 2,320.65 2,300 1,717.08 2,300 2,300 72500 - Cleaning 3,000 2,181 3,000 2,305 2,400 1,995 2,400 1,706 2,400 2,627.28 2,200 1,846.78 2,200 2,065.60 2,200 2,200 74000 - Operating 9,000 14,263 9,000 9,702 9,000 7,466 10,000 8,203 10,000 8,721.86 10,000 9,132.00 9,000 8,520.09 9,000 9,000 75500 - Tools & Equipment 3,500 3,869 3,500 4,001 3,500 3,623 3,500 6,178 3,500 1,109.62 4,600 3,768.28 4,600 3,157.76 3,000 -1,600 3,000 76000 - Motor Fuels 20,000 16,324 18,000 17,630 18,000 23,157 19,000 23,990 23,000 16,818.20 25,000 20,936.37 25,000 29,313.73 25,000 25,000 77000 - Turn Out Gear 12,000 3,213 12,000 8,379 12,000 15,390 12,000 11,483 12,000 12,683.42 12,000 15,510.32 12,000 14,095.17 12,000 12,000 77500 - Tires 78000 - COVID-19 40,136.62 1,916.49 79000 - Fire Prevention Supplies 6,000 6,372 6,000 8,190 6,000 5,746 6,000 8,283 6,000 1,960.30 6,000 7,423.53 6,000 5,378.83 1,000 -5,000 1,000 Service 80200 - Consultant 2,000 2,154 2,000 2,000 2,000 1,000 2,000 2,200 2,000 0.00 2,000 1,312.20 2,000 415.00 500 -1,500 500 80400 - Other Contract 500 480 500 50,000 500 0 0 0 0 0.00 0 0 80600 - Legal Fees 7,000 12,136 7,000 40,936 9,000 4,386 9,000 5,091 9,000 4,219.00 7,000 4,548.50 6,000 7,308.13 5,000 -1,000 6,000 1,000 80800 - Medical Exams 8,000 26,784 20,000 1,355 20,000 24,192 20,000 7,150 30,000 0.00 30,000 23,789.25 25,000 26,257.45 40,000 15,000 40,000 Communication and Delivery 81200 - Telephone 000 0 00 0 0 0 0.00 0 0 81400 - Postage & Delivery 500 0 500 236 500 63 400 27 400 10.32 200 122.35 200 378.33 100 -100 100 81600 - Radio Units (leasing, maint. fees, repairs and parts)000 0 00 0 0 0 0.00 0 0 81800 - Communications 85,000 109,990 90,000 84,958 101,800 100,769 110,000 109,023 110,000 106,128.21 115,000 125,510.53 120,000 136,919.55 130,000 10,000 140,000 10,000 Utilities 83200 - Electric 24,000 27,162 24,000 24,286 24,000 22,548 26,000 21,841 26,000 22,421.11 25,000 22,665.50 21,000 24,294.35 21,000 21,000 83400 - Water/Sewer 6,000 6,265 6,000 5,539 6,000 5,683 6,000 5,583 6,000 5,546.89 6,000 7,621.20 5,500 8,003.27 5,500 7,000 1,500 83600 - Gas 20,000 15,044 20,000 14,116 17,000 20,424 18,000 19,623 20,000 15,623.83 22,000 20,319.06 20,000 29,524.48 20,000 25,000 5,000 83800 - Refuse 1,200 672 1,200 1,395 1,000 810 0 0 0 0.00 0 0 Contract Maintenance 84000 - Building Maintenance & Cleaning 13,000 10,645 13,000 13,317 13,000 11,911 14,000 12,861 14,000 12,901.40 15,000 12,903.00 15,000 13,787.19 15,000 15,000 84200 - Building Repairs 10,000 5,030 10,000 7,934 10,000 9,603 10,000 9,343 10,000 7,800.85 10,000 7,685.12 10,000 4,194.72 10,000 10,000 84400 - Equipment Repairs 16,000 17,749 16,000 15,184 16,000 19,754 16,000 49,949 16,000 22,385.34 20,000 22,423.88 24,000 21,336.41 24,000 24,000 84600 - Vehicle Repairs 35,000 25,172 35,000 31,856 33,000 30,569 35,000 31,084 35,000 45,718.44 36,000 51,065.99 41,000 37,590.62 31,000 -10,000 31,000 84700 - Grounds Maintenance 84800 - Information Technology 000 0 00 0 0 0.00 0 0 Rent 85400 - Office Equipment Rent 7,000 5,655 6,500 5,271 6,000 4,942 6,000 2,481 6,000 2,786.10 4,000 3,849.15 3,000 2,585.93 3,000 3,000 85600 - Service Contracts Dues, Subscriptions, & Training 86200 - Dues & Subscriptions 2,500 3,385 2,500 2,114 2,500 2,485 2,500 2,800 2,500 2,966.61 3,000 1,261.11 3,000 1,574.54 3,000 3,000 86400 - Awards 3,000 3,275 3,000 2,954 3,000 2,961 3,000 2,792 3,000 1,675.33 3,000 1,285.99 3,000 2,833.31 1,000 -2,000 1,000 86600 - Books 0 568 0 0 0 0 0 0 0.00 0 0 86800 - Training 30,000 27,693 30,000 56,392 30,000 31,631 30,000 42,332 30,000 10,864.61 30,000 28,616.76 30,000 39,257.04 30,000 30,000 86900 - Licenses & Permits 5,000 4,000 0 0 0 5,000 3,375.00 0 0 5,000 5,000 0 -5,000 Miscellaneous 87200 - Advertising - Employee 0 0 0 0 0 0 87400 - Printing 500 105 300 360 300 150 300 153 300 0.00 300 188.45 300 407.84 300 300 87500 - General Insurance 37,000 38,068 37,000 21,506 40,000 27,651 40,000 12,898 0 0.00 0 0 87700 - Financial Services 40,000 54,421 40,000 47,134 47,000 53,049 50,000 53,838 53,000 60,884.40 60,000 63,703.56 60,000 66,390.62 65,000 5,000 70,000 5,000 87800 - EMAC Deployment 4,309.13 87999 - Reserve 20,000 0.00 20,000 0.00 0 Total General Operating Expenditures 1,646,800 1,714,380 1,736,900 1,866,030 1,822,250 1,840,055 1,928,700 1,998,755 2,030,650 2,178,526.99 2,120,450 2,228,063.40 2,208,500 2,347,200.52 2,457,590 249,090 92,590 2,640,900 Assigned for Additional Full-Time Staff 100,000 100,000 100,000 -50,000 Special Revenue Pension Expenditures 220,000 155,062 200,000 199,027 200,000 147,522 200,000 180,000 191,192.60 180,000 141,945 200,000 170,333 Total General and Pension Expenditures 1,866,800 1,869,442 1,936,900 2,065,056 2,022,250 1,987,577 2,128,700 2,210,650 Capital Fund Expenditures 241,000 133,327 217,745 291,001 265,030 244,589 370,100 696,100 731,361.89 571,320 443,310.79 Total General, Pension, Capital 2,107,800 2,002,769 2,154,645 2,356,057 2,287,280 2,232,166 2,498,800 2,906,750 Special Revenue Fund Expenditures 34,877 38,269 47,856 Total Expenditures 2,037,059 2,394,326 ((a/A) + (p/P) + (v/V) / 3) x 100 = Percentage of total budget due from specified municipality Crystal New Hope District a = municipality's avg. calls over 5 years 858 1,064 1,922 p = municipality's population (2020 census)23,330 21,986 45,316 v = municipality's taxable market value in millions 2,708 2,748 A = district's avg. calls over 5 years no mutual aid 1,922 P = district's population (2020 census) 45,316 V = district's taxable market value in millions 5,456 Percentage a/A 44.6364% 55.3636% Percentage p/P 51.4829% 48.5171% Percentage v/V 49.6334% 50.3666% 48.5842% 51.4158%100.00% 100.0000% Required contributions from cities $1,634,616.59 $1,729,883.41 $3,364,500.00 Monthly contribution $136,218.05 $144,156.95 (1) Average calls based on calls for the years 2018 through 2022 without mutual aid. (2) 2023 Taxable market values from Hennepin County report dated 12/27/2022 Contributions from Cities Set to Equal: 2024 General Fund Operating Budget $2,640,900 2024 Capital Plan Budget $250,000 2024 Pension Special Revenue Fund $200,000 2024 Insurance Special Revenue Fund $10,000 2024 Compensated Absences Special Revenue Fund $10,000 2024 Aerial Lease $103,600 2024 Engine Lease $150,000 2024 Total Amount to be Contributed from Cities $3,364,500 WEST METRO-FIRE RESCUE DISTRICT Cost Sharing Formula Calculation in 2023 for use in the 2024 Budget 4/5/2023 18:24 2023 Capital Plan 2023 Committed Capital Funds Year of 2022 Committed Funds 688,000 Expenditure 2022 Potential Uncommitted Fund Balance 133,666 BUILDING 88002 2022 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2022 Assigned Funds Engine Lease 300,990 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2023 Sale of Engines Revenue 410,750 2023 Contribution 250,000 Total 72,000 2023 Tower Lease Contribution 103,600 2023 Engine Lease Contribution 70,000 POWER EQUIPMENT TOOLS 88005 Gas/Electric Tools (2020)10,000 Total 1,957,006 Gas/Electric Tools (2021)10,000 Expenditure Gas/Electric Tools (2022)10,000 2023 Expenditures 122,500 Gas/Electric Tools (2023)10,000 2023 Committed Expenditures 301,000 2023 Tower Lease 103,600 Total 40,000 2023 Engine Trade-in Reimbursement and Commision 195,250 2023 Engine Lease WMFRD 80,000 RESPIRATORY PROTECTION EQUIPMENT 88003 2023 Engine Lease Cities 70,000 SCBA (2023)50,000 Total 872,350 Total 50,000 ADMIN/TECH 88001 COMMUNICATION EQUIPMENT 88006 Computers/LOGIS 20,000 Telephone (2017) 10,000 Radios (2019) 20,000 Total 20,000 Radios (2020) 20,000 Radios (2021) 20,000 BUILDING 88002 Radios (2023) 20,000 Overhead Door Maintenance 5,000 Total 90,000 Total 5,000 PREVENTION 88011 RESPIRATORY PROTECTION EQUIPMENT 88003 Public Education Props (2023)5,000 SCBA 50,000 Total 5,000 Total 50,000 2024-2027 VEHICLES - Staff/Utility/Rescue 88013 PERSONAL PROTECTIVE EQUIPMENT 88004 Rescues(3) 2015 30,000 Turnout Gear 40,000 Rescues(3) 2016 30,000 Rescues(3) 2018 30,000 Total 40,000 Rescues(3) 2019 30,000 Rescues(3) 2020 30,000 POWER EQUIPMENT TOOLS 88005 Rescues(3) 2021 30,000 Hydraulic Tools 2022 95,000 Rescues(3) 2022 30,000 Gas/Electric Tools 10,000 Rescues(3) 2023 30,000 Major Apparatus Tires (2022)5,000 Total 10,000 Total 245,000 COMMUNICATION EQUIPMENT 88006 Radios 20,000 Total Committed Funds 502,000 Total 20,000 Assigned Funds Engine Lease 436,490 TECHNICAL RESCUE EQUIPMENT 88007 Beginning Fund 1,957,006 Total 0 Committed 502,000 Assigned 436,490 MEDICAL EQUIPMENT 88008 Expenditures 872,350 AED 2,500 Ending Fund Balance 146,166 Total 2,500 Expenditures FIRE SUPPRESSION EQUIPMENT 88009 Expenditures from Committed Capital Funds Hose 45,000 Committed/Saved Capital Funds Nozzles 45,000 Engine Lease Total 90,000 HAZARDOUS MATERIALS EQUIPMENT 88010 Total 0 PREVENTION 88011 Public Education Props 5,000 Total 5,000 TRAINING 88012 Training Mannequins (2021)6,000 Total 6,000 VEHICLE 88013 Staff Vehicle 55,000 Staff Vehicle 55,000 Staff Vehicle 55,000 Rescues (3) 30,000 Total 195,000 2024 Capital Plan 2024 Committed Capital Funds Year of 2023 Committed Funds 502,000 Expenditure 2023 Potential Uncommitted Fund Balance 146,666 BUILDING 88002 2023 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2023 Assigned Funds Engine Lease 436,490 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2024 Contribution 250,000 2024 Tower Lease Contribution 103,600 Total 72,000 2024 Engine Lease Contribution 150,000 POWER EQUIPMENT TOOLS 88005 Total 1,588,756 Gas/Electric Tools (2020)10,000 Gas/Electric Tools (2021)10,000 Expenditure 2024 Expenditures 77,500 Gas/Electric Tools (2022)10,000 2024 Committed Expenditures 0 Gas/Electric Tools (2023)10,000 2024 Tower Lease 103,600 Thermal Cameras (2024)5,000 2024 Engine Lease WMFRD 75,000 Hydraulic Tools (2024)10,000 2024 Engine Lease Cities 150,000 Total 55,000 Total 406,100 RESPIRATORY PROTECTION EQUIPMENT 88003 ADMIN/TECH 88001 SCBA (2023)50,000 Computers/LOGIS 20,000 SCBA (2024)50,000 Total 20,000 Total 100,000 BUILDING 88002 COMMUNICATION EQUIPMENT 88006 Overhead Door Maintenance 5,000 Telephone (2017) 10,000 Radios (2019) 20,000 Total 5,000 Radios (2020) 20,000 Radios (2021) 20,000 RESPIRATORY PROTECTION EQUIPMENT 88003 Radios (2023) 20,000 SCBA 50,000 Radios (2024) 20,000 Total 50,000 Total 110,000 PERSONAL PROTECTIVE EQUIPMENT 88004 FIRE SUPPRESSION EQUIPMENT 88009 Turnout Gear 50,000 Hose (2024)10,000 Nozzles (2024)10,000 Total 50,000 Total 20,000 POWER EQUIPMENT TOOLS 88005 Hydraulic Tools 10,000 PREVENTION 88011 Thermal Cameras 5,000 Public Education Props (2023)5,000 Public Education Props (2024)5,000 Total 15,000 Total 10,000 COMMUNICATION EQUIPMENT 88006 Radios 20,000 TRAINING 88012 Training Room Furniture (2024)50,000 Total 20,000 Total 50,000 TECHNICAL RESCUE EQUIPMENT 88007 Total 0 2024-2027 VEHICLES - Staff/Utility/Rescue 88013 Rescues(3) 2015 30,000 MEDICAL EQUIPMENT 88008 Rescues(3) 2016 30,000 AED 2,500 Rescues(3) 2018 30,000 Rescues(3) 2019 30,000 Total 2,500 Rescues(3) 2020 30,000 Rescues(3) 2021 30,000 FIRE SUPPRESSION EQUIPMENT 88009 Rescues(3) 2022 30,000 Hose 10,000 Rescues(3) 2023 30,000 Nozzles 10,000 Rescues(3) 2024 30,000 Major Apparatus Tires (2022)5,000 Total 20,000 Total 275,000 HAZARDOUS MATERIALS EQUIPMENT 88010 Total 0 Total Committed Funds 692,000 PREVENTION 88011 Assigned Funds Engine Lease 361,490 Public Education Props 5,000 Total 5,000 Beginning Fund 1,588,756 Committed 692,000 TRAINING 88012 Assigned 361,490 Training Room Furniture 50,000 Expenditures 406,100 Ending Fund Balance 129,166 Total 50,000 VEHICLE 88013 Expenditures Rescues (3) 30,000 Expenditures from Committed Capital Funds Committed/Saved Capital Funds Total 30,000 Engine Lease 2025 Capital Plan 2025 Committed Capital Funds Year of 2024 Committed Funds 692,000 Expenditure 2024 Potential Uncommitted Fund Balance 129,166 BUILDING 88002 2024 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2024 Assigned Funds Engine Lease 361,490 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2025 Contribution 250,000 2028 Station 3 Apparatus Floor (2025) 20,000 2025 Tower Lease Contribution 103,600 2025 Engine Lease Contribution 212,325 Total 92,000 Total 1,748,581 RESPIRATORY PROTECTION EQUIPMENT 88003 Expenditure 2033 SCBA (2023)50,000 2025 Expenditures 142,500 SCBA (2024)50,000 2025 Committed Expenditures 120,000 2025 Tower Lease 103,600 Total 100,000 2025 Engine Lease WMFRD 75,000 2025 Engine Lease Cities 212,325 POWER EQUIPMENT TOOLS 88005 Gas/Electric Tools (2020)10,000 Total 653,425 Gas/Electric Tools (2021)10,000 Gas/Electric Tools (2022)10,000 ADMIN/TECH 88001 Gas/Electric Tools (2023)10,000 Computers/LOGIS 20,000 2033 Thermal Camera (2024)5,000 Thermal Camera (2025)5,000 Total 20,000 2034 Hydraulic Tools (2024)10,000 Hydraulic Tools (2025)10,000 BUILDING 88002 Overhead Door Maintenance 5,000 Total 70,000 Station 3 Apparatus Floor 20,000 COMMUNICATION EQUIPMENT 88006 Total 25,000 Telephone (2017) 10,000 Radios (2019) 20,000 RESPIRATORY PROTECTION EQUIPMENT 88003 Radios (2020) 20,000 Radios (2021) 20,000 Total 0 Radios (2023) 20,000 Radios (2024) 20,000 PERSONAL PROTECTIVE EQUIPMENT 88004 Radios (2025) 20,000 Turnout Gear 50,000 Total 130,000 Total 50,000 FIRE SUPPRESSION EQUIPMENT 88009 POWER EQUIPMENT TOOLS 88005 Hose (2024)10,000 Thermal Camera 5,000 Hose (2025)10,000 Hydraulic Tools 10,000 Nozzles (2024)10,000 Nozzle (2025)10,000 Total 15,000 Total 40,000 COMMUNICATION EQUIPMENT 88006 Radios 20,000 PREVENTION 88011 Public Education Props (2023)5,000 Total 20,000 Public Education Props (2024)5,000 Public Education Props (2025)5,000 TECHNICAL RESCUE EQUIPMENT 88007 Total 0 Total 15,000 MEDICAL EQUIPMENT 88008 TRAINING 88012 AED 2,500 2026 Training Room Furniture (2024)50,000 Training Room Furniture (2025)50,000 Total 2,500 Total 100,000 FIRE SUPPRESSION EQUIPMENT 88009 Hose 10,000 VEHICLES - Staff/Utility/Rescue 88013 Nozles 10,000 Rescues(2) 2020 30,000 Rescues(2) 2021 30,000 Total 20,000 Rescues(2) 2022 30,000 Rescues(2) 2023 30,000 HAZARDOUS MATERIALS EQUIPMENT 88010 Rescues(2) (2024) 30,000 Total 0 Rescues (2) (2025) 30,000 Major Apparatus Tires (2022)5,000 PREVENTION 88011 Public Education Props 5,000 Total 185,000 Total 5,000 Total Committed Funds 732,000 TRAINING 88012 Assigned Funds Engine Lease 286,490 Training Room Furniture 50,000 Total 50,000 Beginning Fund 1,748,581 Committed 732,000 VEHICLE 88013 Assigned 286,490 Staff Vehicle 65,000 Expenditures 653,425 Rescues (3) 30,000 Ending Fund Balance 76,666 Rescue 120,000 Total 215,000 Expenditures Expenditures from Committed Capital Funds Committed/Saved Capital Funds Engine Lease 2026 Capital Plan 2026 Committed Capital Funds Year of 2025 Committed Funds 732,000 Expenditure 2025 Potential Uncommitted Fund Balance 76,666 BUILDING 88002 2025 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2025 Assigned Funds Engine Lease 286,490 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2026 Contribution 250,000 2028 Station 3 Apparatus Floor (2025) 20,000 2026 Tower Lease Contribution 103,600 Station 3 Apparatus Floor (2026) 20,000 2026 Engine Lease Contribution 252,325 Total 112,000 RESPIRATORY PROTECTION EQUIPMENT 88003 Total 1,701,081 2033 SCBA (2023)50,000 Expenditure SCBA (2024)50,000 2026 Expenditures 140,000 SCBA (2026)50,000 2026 Committed Expenditures 220,000 2026 Tower Lease 103,600 Total 150,000 2026 Engine Lease WMFRD 35,000 2026 Engine Lease Cities 252,325 POWER EQUIPMENT TOOLS 88005 Gas/Electric Tools (2020)10,000 Total 750,925 Gas/Electric Tools (2021)10,000 Gas/Electric Tools (2022)10,000 ADMIN/TECH 88001 Gas/Electric Tools (2023)10,000 Computers/LOGIS 20,000 2033 Thermal Cameras (2024)5,000 Thermal Cameras (2025)5,000 Total 20,000 Thermal Cameras(2026)5,000 2034 Hydraulic Tools (2024)10,000 BUILDING 88002 Hydraulic Tools (2025)10,000 Overhead Door Maintenance 5,000 Hydraulic Tools (2026)10,000 Station 3 Apparatus Floor 20,000 Total 85,000 Total 25,000 COMMUNICATION EQUIPMENT 88006 RESPIRATORY PROTECTION EQUIPMENT 88003 Telephone (2017) 10,000 SCBA 50,000 Radios (2019) 20,000 Radios (2020) 20,000 Total 50,000 Radios (2021) 20,000 Radios (2023) 20,000 PERSONAL PROTECTIVE EQUIPMENT 88004 Radios (2024) 20,000 Turnout Gear 50,000 Radios (2025) 20,000 Radios (2026) 20,000 Total 50,000 Total 150,000 POWER EQUIPMENT TOOLS 88005 Thermal Camera 5,000 FIRE SUPPRESSION EQUIPMENT 88009 Hydraulic Tools 10,000 Hose (2024)10,000 Hose (2025)10,000 Total 15,000 Hose (2026)10,000 Nozzles (2024)10,000 COMMUNICATION EQUIPMENT 88006 Nozzle (2025)10,000 Radios 20,000 Nozzles (2026)10,000 Total 20,000 Total 60,000 TECHNICAL RESCUE EQUIPMENT 88007 PREVENTION 88011 Total 0 Public Education Props (2023)5,000 Public Education Props (2024)5,000 MEDICAL EQUIPMENT 88008 Public Education Props (2025)5,000 Total 0 Public Education Props (2026)5,000 FIRE SUPPRESSION EQUIPMENT 88009 Total 20,000 Hose 10,000 Nozzles 10,000 VEHICLES - Staff/Utility/Rescue 88013 Rescues (2024)30,000 Total 20,000 2027 Rescues (2025) 30,000 Rescues (2026)30,000 HAZARDOUS MATERIALS EQUIPMENT 88010 Major Apparatus Tires (2022) 5,000 Total 0 Total 95,000 PREVENTION 88011 Public Education Props 5,000 Total Committed Funds 672,000 Total 5,000 Assigned Funds Engine Lease 251,490 TRAINING 88012 Training Room Furniture 100,000 Beginning Fund 1,701,081 Committed 672,000 Total 100,000 Assigned 251,490 Expenditures 750,925 VEHICLE 88013 Ending Fund Balance 26,666 Staff Vehicle 65,000 Rescues (3) 30,000 Rescue 120,000 Expenditures Expenditures from Committed Capital Funds Total 215,000 Committed/Saved Capital Funds Engine Lease 2028 Capital Plan 2028 Committed Capital Funds Year of 2027 Committed Funds 672,000 Expenditure 2027 Potential Uncommitted Fund Balance 14,166 BUILDING 88002 2027 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2027 Assigned Funds Engine Lease 216,490 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2028 Contribution 250,000 Total 72,000 2028 Tower Lease Contribution 103,600 2028 Engine Lease Contribution 287,325 RESPIRATORY PROTECTION EQUIPMENT 88003 SCBA (2023)50,000 Total 1,543,581 SCBA (2024)50,000 Expenditure SCBA (2026)50,000 2028 Expenditures 150,000 SCBA (2027)30,000 2028 Committed Expenditures 60,000 SCBA (2028)30,000 2028 Tower Lease 103,600 2028 Engine Lease WMFRD 0 Total 210,000 2028 Engine Lease Cities 287,325 POWER EQUIPMENT TOOLS 88005 Total 600,925 Gas/Electric Tools (2020)10,000 Gas/Electric Tools (2021)10,000 ADMIN/TECH 88001 Gas/Electric Tools (2022)10,000 Computers/LOGIS 20,000 Gas/Electric Tools (2023)10,000 2033 Thermal Cameras (2024)5,000 Total 20,000 Thermal Cameras (2025)5,000 Thermal Cameras (2026)5,000 BUILDING 88002 Thermal Cameras (2027)5,000 Overhead Door Maintenance 5,000 Thermal Cameras (2028)5,000 Station 3 Apparatus Floor 60,000 2034 Hydraulic Tools (2024)10,000 Hydraulic Tools (2025)10,000 Total 65,000 Hydraulic Tools (2026)10,000 Hydraulic Tools (2027)10,000 RESPIRATORY PROTECTION EQUIPMENT 88003 Hydraulic Tools (2028)10,000 SCBA 30,000 Total 115,000 Total 30,000 COMMUNICATION EQUIPMENT 88006 PERSONAL PROTECTIVE EQUIPMENT 88004 Telephone (2017) 10,000 Turnout Gear 60,000 Radios (2019) 20,000 Radios (2020) 20,000 Total 60,000 Radios (2021) 20,000 Radios (2023) 20,000 POWER EQUIPMENT TOOLS 88005 Radios (2024) 20,000 Thermal Cameras 5,000 Radios (2025) 20,000 Hydraulic Tools 10,000 Radios (2026) 20,000 Total 15,000 Total 150,000 COMMUNICATION EQUIPMENT 88006 FIRE SUPPRESSION EQUIPMENT 88009 Total 0 Hose (2024)10,000 Hose (2025)10,000 TECHNICAL RESCUE EQUIPMENT 88007 Hose (2026)10,000 Total 0 Hose (2027)10,000 Hose (2028)10,000 MEDICAL EQUIPMENT 88008 Nozzles (2024)10,000 Total 0 Nozzles (2025)10,000 Nozzles (2026)10,000 FIRE SUPPRESSION EQUIPMENT 88009 Nozzles (2027)10,000 Hose 10,000 Nozzles (2028)10,000 Nozzles 10,000 Total 100,000 Total 20,000 PREVENTION 88011 HAZARDOUS MATERIALS EQUIPMENT 88010 Public Education Props (2023)5,000 Total 0 Public Education Props (2024)5,000 Public Education Props (2025)5,000 PREVENTION 88011 Public Education Props (2026)5,000 Total 0 Public Education Props (2027)5,000 TRAINING 88012 Total 25,000 Total 0 VEHICLES - Staff/Utility/Rescue 88013 VEHICLE 88013 Major Apparatus Tires (2022) 5,000 Staff Vehicle 65,000 Rescues (3) 40,000 Rescues (3) 40,000 Total 45,000 Total 105,000 Total Committed Funds 717,000 Assigned Funds Engine Lease 216,490 Beginning Fund 1,543,581 Committed 717,000 Assigned 216,490 Expenditures 600,925 Ending Fund Balance 9,166 Expenditures Expenditures from Committed Capital Funds Committed/Saved Capital Funds Engine Lease 2027 Capital Plan 2027 Committed Capital Funds Year of 2026 Committed Funds 672,000 Expenditure 2026 Potential Uncommitted Fund Balance 26,666 BUILDING 88002 2026 Potential GOB Fund Balance Transfer 0 Bathroom Project (2014)38,000 2026 Assigned Funds Engine Lease 251,490 Bathroom Project (2015)29,000 Bathroom Project (2015)5,000 Revenue 2027 Contribution 250,000 2028 Station 3 Apparatus Floor (2025) 20,000 2027 Tower Lease Contribution 103,600 Station 3 Apparatus Floor (2026) 20,000 2027 Engine Lease Contribution 252,325 Station 3 Apparatus Floor (2027) 20,000 Total 1,556,081 Total 132,000 Expenditure 2027 Expenditures 172,500 RESPIRATORY PROTECTION EQUIPMENT 88003 2027 Committed Expenditures 90,000 2033 SCBA (2023)50,000 2027 Tower Lease 103,600 SCBA (2024)50,000 2027 Engine Lease WMFRD 35,000 SCBA (2026)50,000 2027 Engine Lease Cities 252,325 SCBA (2027)30,000 Total 653,425 Total 180,000 ADMIN/TECH 88001 POWER EQUIPMENT TOOLS 88005 Computers/LOGIS 20,000 Gas/Electric Tools (2020)10,000 Gas/Electric Tools (2021)10,000 Total 20,000 Gas/Electric Tools (2022)10,000 Gas/Electric Tools (2023)10,000 BUILDING 88002 2033 Thermal Cameras (2024)5,000 Overhead Door Maintenance 5,000 Thermal Cameras (2025)5,000 Station 3 Apparatus Floor 20,000 Thermal Cameras (2026)5,000 Thermal Cameras (2027)5,000 Total 25,000 2034 Hydraulic Tools (2024)10,000 Hydraulic Tools (2025)10,000 RESPIRATORY PROTECTION EQUIPMENT 88003 Hydraulic Tools (2026)10,000 SCBA 30,000 Hydraulic Tools (2027)10,000 Total 30,000 Total 100,000 PERSONAL PROTECTIVE EQUIPMENT 88004 COMMUNICATION EQUIPMENT 88006 Turnout Gear 50,000 Telephone (2017) 10,000 Radios (2019) 20,000 Total 50,000 Radios (2020) 20,000 Radios (2021) 20,000 POWER EQUIPMENT TOOLS 88005 Radios (2023) 20,000 Thermal Camera 5,000 Radios (2024) 20,000 Hydraulic Tools 10,000 Radios (2025) 20,000 Radios (2026) 20,000 Total 15,000 Total 150,000 COMMUNICATION EQUIPMENT 88006 Total 0 FIRE SUPPRESSION EQUIPMENT 88009 Hose (2024)10,000 TECHNICAL RESCUE EQUIPMENT 88007 Hose (2025)10,000 Total 0 Hose (2026)10,000 Hose (2027)10,000 MEDICAL EQUIPMENT 88008 Nozzles (2024)10,000 AED 2,500 Nozzles (2025)10,000 Nozzles (2026)10,000 Total 2,500 Nozzles (2027)10,000 FIRE SUPPRESSION EQUIPMENT 88009 Total 80,000 Hose 10,000 Nozzles 10,000 PREVENTION 88011 Public Education Props (2023)5,000 Total 20,000 Public Education Props (2024)5,000 Public Education Props (2025)5,000 HAZARDOUS MATERIALS EQUIPMENT 88010 Public Education Props (2026)5,000 Total 0 Public Education Props (2027)5,000 PREVENTION 88011 Total 25,000 Public Education Props 5,000 VEHICLES - Staff/Utility/Rescue 88013 Total 5,000 Major Apparatus Tires (2022) 5,000 TRAINING 88012 Total 5,000 Total 0 Total Committed Funds 672,000 VEHICLE 88013 Staff Vehicle 65,000 Assigned Funds Engine Lease 216,490 Rescues (3) 90,000 Rescues (3) 30,000 Beginning Fund 1,556,081 Total 185,000 Committed 672,000 Assigned 216,490 Expenditures 653,425 Ending Fund Balance 14,166 Expenditures Expenditures from Committed Capital Funds Committed/Saved Capital Funds Engine Lease I:\RFA\City Manager\2023\Budget 2024\ws 082123\11.3 Q ‐ 2024 Preliminary Budget 082123.docx Request for Action August 21, 2023 Approved by: Reece Bertholf, City Manager Originating Department: City Manager By: Valerie Leone, City Clerk‐Treas. Agenda Title Discussion regarding 2024 preliminary budget and tax levy Requested Action Staff requests to begin initial discussions on the preliminary 2024 budget and city tax levy. Budget binders were recently distributed, and an electronic copy of the budget is attached. The city manager and representatives from Abdo will be present to provide an overview of the budget. Policy/Past Practice In the past the Council has discussed and provided feedback/direction on the proposed general fund budget and city tax levy prior to the September council meeting when the maximum levy must be established. The budget is reviewed and refined during the fall months with the final budget and tax levy adopted in December. All utility and enterprise fund budgets are reviewed and discussed in the fall, a determination is made regarding any necessary rate increases, and all budgets adopted in December. Background The City Council must adopt the preliminary maximum tax levy for certification to the county auditor by September 30. Staff is recommending that Council certify the preliminary tax levy at the September 11 council meeting. Per the schedule reviewed with the Council earlier this year, it was determined the preliminary budget would be distributed and discussed at the August 21 work session. If a special work session is needed prior to the September 11 council meeting to reach agreement on the initial maximum levy, staff recommends that it be conducted on September 5 (a special work session has not been necessary in the past). All general fund department budgets will be reviewed and discussed at the September 18 work session with department heads in attendance. All enterprise and utility fund budgets, including HRG, will be discussed at the October 16 work session. A final budget presentation that includes results from the city services survey is prepared and reviewed at the November 20 work session in advance of the November 27 budget hearing. The total preliminary 2024 property tax levy is $20,075,245 which reflects a 5.36% increase from last year. It includes the addition of three new levies of $100,000 each to build reserves for future capital outlay needs for the fire station, aquatic center, and the city hall/police facility as outlined in the long term financial plan. The tax levy includes a 5% increase in the street and park infrastructure levies to support the long‐term funding plans for street and park improvements. An HRA levy of $459,743 is recommended for 2024, which is established as a special taxing district. The EDA levy of $168,683 will be included in the city’s tax rate. These funds will support the scattered site housing program and other redevelopment. The 2024 budget goals are listed in the preliminary budget binder on pages 3‐4. At the September 11 council meeting, the Council will be asked to set the preliminary tax levy. Once the maximum levy is established, it cannot be increased but it could be decreased before final adoption. Staff Agenda Section Work Session Item Number 11.3 Request for Action, Page 2 feels this is a reasonable place to start for the preliminary maximum budget and tax levy, with the understanding that more detailed discussions will transpire over the next several months. A draft PowerPoint presentation is included that will be updated for the September 11 council meeting after feedback is received at this work session. Thanks is extended to the city staff and Abdo that have prepared information for the preliminary budget. As the Council is aware, staff is always open to your comments ‐ the budget is a work in progress. Attachments  2024 Preliminary Budget Workbook  Powerpoint presentation CITY OF NEW HOPE, MINNESOTA 2024 BUDGET TABLE OF CONTENTS Budget Message ...................................................................................................................................... 1-2 Goals and Priorities................................................................................................................................. 3-4 Budget Process and Budget Schedule ..................................................................................................... 5 Revenues Sources .................................................................................................................................... 5-6 Revenues ................................................................................................................................................. 5-6 Tax Levy ...................................................................................................................................................... 6 Budget ....................................................................................................................................................... 7-9 Tax Capacity and Tax Impact on Residential Homes ................................................................... 10-11 Personnel and Consultant Costs ............................................................................................................ 12 Organizational Chart ............................................................................................................................... 13 Full Time Equivalent Summary ............................................................................................................. 14 Positions and Salaries/FTEs ............................................................................................................... 15-18 Salaries by Position ............................................................................................................................. 19-20 General Fund Statement of Revenues, Expenditures and Changes in Fund Balance ................................ 21 Schedule of Expenditures .......................................................................................................... 22 Schedule of Revenues ................................................................................................................. 23 General Fund Revenues ........................................................................................................ 24-26 General Government Mayor and Council ................................................................................................... 27-28 City Manager ............................................................................................................. 29-31 Assessing .................................................................................................................... 32-34 City Hall ..................................................................................................................... 35-36 Communications ....................................................................................................... 37-39 Elections ..................................................................................................................... 40-41 Finance ........................................................................................................................ 42-43 Human Resources ..................................................................................................... 44-45 Legal Services ............................................................................................................ 46-47 Planning ..................................................................................................................... 48-49 Public Safety Police ........................................................................................................................... 50-53 Animal Control .......................................................................................................... 54-55 Fire and EMS ............................................................................................................. 56-58 Protective Inspections............................................................................................... 59-60 Streets Engineering ................................................................................................................ 61-62 Streets .......................................................................................................................... 63-66 Parks and Recreation Recreation ................................................................................................................... 67-69 Parks ........................................................................................................................... 70-73 Swimming Pool ......................................................................................................... 74-77 Special Revenue Funds EDA .......................................................................................................................................... 78-81 Solid Waste Management ..................................................................................................... 82-85 Capital Project Funds Park Infrastructure ................................................................................................................. 86-89 Street Infrastructure ............................................................................................................... 90-92 Enterprise Funds Sanitary Sewer ........................................................................................................................ 93-96 Water ...................................................................................................................................... 97-100 Storm Water (Bassett and Shingle Creek Watersheds) ................................................. 101-106 Street Lighting .................................................................................................................... 107-108 Golf Course ......................................................................................................................... 109-113 Ice Arena ............................................................................................................................. 114-118 Internal Service Funds Central Garage .................................................................................................................... 119-123 Information Technology ................................................................................................... 124-126 2024 PRELIMINARY BUDGETNew Hope City Council Meeting• August 21, 2023 Review Budget ProcessAugust 21, 2023 Work SessionHigh level overview of preliminary general fund budget and maximumtax levy. Need Council agreement prior to September 11 Council Meeting.If no agreement reached, special work session may be needed on September 5 (a special work session has not been necessary in the past).Once maximum levy is established/adopted September 11, it cannot be increased; the tax levy can be decreased before final adoption.2 Budget ProcessSeptember 11, 2023 Council MeetingApprove 2024 preliminary tax supported budgetsApprove 2024 preliminary tax levy (maximum amount)Schedule public hearing date for 2024 budget (November 27 at 6:30 pm)City Clerk submits maximum tax levy to county auditor for certification along with public hearing dateSeptember 18, 2023 Work SessionGeneral fund budgets reviewed with city manager, Abdo and department heads3 Budget ProcessOctober 16, 2023 Work SessionUtility and enterprise fund budgets reviewed with city manager, Abdo and department headsHRG budget/program/rates discussedUtility rate recommendations reviewedNovember 20, 2023 Work SessionCounty assessor information reviewedCity services survey results presentedBudget public hearing presentation reviewed4 Budget ProcessNovember 27, 2023 Budget Public HearingPresentation and comments from residentsDecember 11, 2023 Council MeetingFinal budget approvedUtility/recycling rate changes approvedCertify final levy to Hennepin County Auditor and Department of Revenue5 Revenue Budgets62023 Adopted Budget2024 Preliminary Budget2023 to 2024 Increase (Decrease)General Fund 5,158,252$ 5,903,614$ 745,362$ 14.45 %Economic Development Authority 78,000 66,000 (12,000) ‐15.38Park Infrastructure 56,149 64,690 8,541 15.21Street Infrastructure 537,500 2,838,333 2,300,833 428.06Sanitary Sewer 4,064,500 4,202,000 137,500 3.38Water 6,139,500 6,153,000 13,500 0.22Solid Waste Management 267,700 366,052 98,352 36.74Golf Course 396,150 435,500 39,350 9.93Ice Arena 1,439,355 1,457,070 17,715 1.23Storm Water 1,375,500 1,442,000 66,500 4.83Street Lighting 180,100 186,000 5,900 3.28Internal Service Funds 3,147,283 3,513,609 366,326 11.64TOTAL ESTIMATED NON‐TAX RECEIPTS 22,839,989$ 26,627,868$ 3,787,879$ 16.58 %TOTAL PROPERTY TAX REVENUE 19,053,316$ 20,075,244$ 1,021,928$ 5.36 %TOTAL REVENUE 41,893,305$ 46,703,111$ 4,809,806$ 11.48 %2023 to 2024 Increase (Decrease) Expenditure Budgets72023 Adopted Budget2024 Preliminary Budget2023 to 2024 Increase (Decrease)General Fund 17,235,207$ 18,578,101$ 1,342,894$ 7.79 %Economic Development Authority 824,811 825,400 589 0.07Park Infrastructure 1,948,000 855,000 (1,093,000) ‐56.11Street Infrastructure 5,272,095 4,622,599 (649,496) ‐12.32Debt Service 3,462,088 3,467,116 5,028 0.15Sanitary Sewer 3,722,548 4,142,439 419,891 11.28Water 10,852,121 5,687,595 (5,164,526) ‐47.59Solid Waste Management 318,164 366,016 47,852 15.04Golf Course 596,197 561,490 (34,707) ‐5.82Ice Arena 2,478,733 1,313,778 (1,164,955) ‐47.00Storm Water 1,445,940 1,564,821 118,881 8.22Street Lighting 625,706 137,206 (488,500) ‐78.07Internal Service Funds 4,202,830 10,246,504 6,043,674 143.80TOTAL EXPENDITURES 52,984,440$ 52,368,065$ (616,375)$ ‐1.16 %2023 to 2024 Increase (Decrease) 2024 Preliminary Major Revenue Budget Changes$458,326 increase in Local Government Aid.$203,500 increase in Public Safety Aid to be used in 2024.$2,037,333 increase in Municipal State Aid grant for the 36thAvenue bridge replacement and 56th, Xylonand Louisiana street project.$273,000 increase in franchise fees for new rates implemented in March 2023.8 2024 Preliminary Major Expenditure Budget Changes$601,767 increase to fund 3% increase in wages/benefits; step increases, adjustment to health insurance contributions, and Council salary increase.$177,132 increase in West Metro Fire-Rescue District joint powers agreement (includes aerial lease and two truck leases).$58,366 increase in IT charges, including WatchGuard, records management through LETG, and LOGIS software.$272,960 increase in central garage charges.$64,768 increase in elections budget for election judge costs.9 Property Tax Levy102023 Levied2024 RequestedIncrease / DecreaseProgram or serviceBase LevyGeneral fund 12,076,955$ 12,674,488$ 597,533$ 4.95 3.14 %Street Improvements 1,698,622 1,783,553 84,931 5.00 0.45 Park Improvements (1)925,185 946,444 21,259 2.30 0.11 Economic Development Authority 160,650 168,683 8,033 5.00 0.04 Housing and Redevelopment Authority 437,850 459,743 21,893 5.00 0.11 Fire Capital‐ 100,000 100,000 100.00 0.52 Swimming Pool Capital‐ 100,000 100,000 100.00 0.52 City Hall Capital‐ 100,000 100,000 100.00 0.52 Debt Service‐ 2015A GO TIF Bonds (City Center) 237,853 235,017 (2,836) (1.19) (0.01) 2015B GO Imp Bonds (Northwoods South) 208,745 206,685 (2,060) (0.99) (0.01) 2016A GO Imp Bonds (Northwoods North) 263,709 259,352 (4,357) (1.65) (0.02) 2017A GO Bonds (Police Dept/City Hall) 1,705,515 1,706,828 1,313 0.08 0.01 2018A GO Tax Abatement Bonds (Pool and Park) 867,464 865,784 (1,680) (0.19) (0.01) 2019A GO Tax Abatement Bonds (Pool and Park P470,768 468,668 (2,100) (0.45) (0.01) Total Property Taxes 19,053,316$ 20,075,245$ 1,021,929$ 5.36 5.36 %(1)Includes an increase of 5% as the annual Park Infrastructure Levy increase, plus an additional $500,000 levy to supportIce Arena debt service.% Change from Prior Year% of Total Change 2024 Preliminary Tax LevyGeneral fund tax levy is $12,674,488, which is $597,533 or 4.95% increase over 2023 general fund levy of $12,076,955 (6%).Total tax levy, including:General FundStreet and Park Infrastructure FundsEDA LevyHRA LevyFire, Swimming Pool and City Hall CapitalPrior Debt Leviesis $20,075,245, which is $1,021,929 or 5.36% increase over 2023 total levy of $19,053,316.11 2024 Preliminary Tax LevyTotal tax levy includes:5% ($84,931) increase in street infrastructure levy2.3% ($21,259) increase in park infrastructure levy 5% ($8,033) increase in EDA levy for redevelopment projects5% ($21,893) increase in HRA levy to achieve long-term funding plan for scattered site housing program due to CDBG funding changesNew levy for future capital needs for the fire station, aquatic center and city hall/police facility each $100,000, totaling $300,000.12 2024 Preliminary Tax LevyTotal tax levy includes:Prior Debt Levies:2015 City Center infrastructure2015 Northwood South infrastructure2016 Northwood North infrastructure2017 Police Department/City Hall2018 Pool and Park2019 Pool and ParkFive of the bond debt levies are decreasing for a total of $13,033One of the bond debt levies are increasing for a total of $1,313Overall, the combined debt levies are decreasing by $11,72013 Estimated Tax ImpactMedian home value in 2023 is $326,050, which is an 0.32% increase from 2023.Current estimated impact on residential homes based on 5.36% increase in city tax levy is 0%For homes valued between $175,000 and $500,000 the tax increase estimate is $1 to $4.142023 Market Value of a HomeTaxable Market Value 2023 Actual2024 Estimated$ Increase / (decrease) % Increase / (decrease)175,000$ 153,500$ 877$ 879$ 1$ 0%200,000 180,800 1,033 1,035 2 0%225,000 208,000 1,189 1,191 2 0%250,000 235,300 1,345 1,347 2 0%300,000 289,800 1,657 1,659 2 0%350,000 344,300 1,968 1,971 3 0%400,000 398,800 2,280 2,283 3 0%450,000 450,000 (1) 2,572 2,576 4 0%500,000 500,000 (1) 2,858 2,862 4 0%(1) For 2023 the Homestead Market Value Exclusion is phased out at a value of $413,800. Tax RateBased on current information:The city tax rate is projected to decrease from57.162% in 2023 to 57.061% in 2024The total tax rate is projected to decrease from125.085% in 2023 to 125.204% in 2024*Amounts for County, School, and Other are estimates.152022 2023 2024City Tax Rate 62.826% 57.162% 57.061%HRA Tax Rate 1.497% 1.342% 1.562%County Tax Rate 38.535% 34.542% 34.542%School Tax Rate 26.507% 24.092% 24.092%Other Tax Rate 8.742% 7.947% 7.947%Total Tax Rate 138.107% 125.085% 125.204% SummaryStaff feels this is a reasonable place to start for the preliminary maximum budget and tax levy.More detailed discussions to take place over next several months.Council needs to determine if preliminary budget/tax levy is acceptable for September 11 Council Meeting where maximum budget/tax levy will be adopted.16 I:\RFA\City Manager\2023\Abdo Renewal\ws 082123\11.4 Abdo proposal review 082123.docx Request for Action August 21, 2023 Approved by: Reece Bertholf, City Manager Originating Department: City Manager By: Valerie Leone, City Clerk‐Treas. Agenda Title Discussion regarding three‐year contract renewal with Abdo Financial Solutions for professional financial management services for years 2024‐2026 Requested Action Staff recommends Council consider renewing the contract with Abdo. Policy/Past Practice The city enters into contracts for professional services on an as needed basis. Background The city has utilized the financial management services of Abdo since December 2008 when the finance manager and several other finance department positions were vacated. The current contract expires on December 31, 2023. Abdo assists the city by providing the following services:  Finance director services (one day per week office hours)  Preparation for the annual financial audit  Assisting with preparation of annual city budget  Prepares and updates the city’s ten‐year long‐term financial plan  Provides annual economic development cash flow analysis of TIF districts  Provides guidance on implementing new accounting standards, legislative changes impacting the budget  Weekly meetings with finance team to provide work direction  Assists with financial policy updates as needed The proposal details the scope of services on pages 8‐10. Fees for special projects outside the scope of services are approved on a case‐by‐case basis. The most recent special project software evaluation for the enterprise resource planning (ERP) system ($22,500 for software evaluation and $7,500 for chart of accounts mapping). Implementation of the new ERP system is considered a special project for 2025, and Abdo estimates the project management cost will be $28,500 (the project is fully described on pages 11‐14). Abdo has prepared a new three‐year contract for Council’s consideration with a term from January 1, 2024, through December 31, 2026, as follows: Year Cost Current cost $137,250 2024 $156,500 2025 $164,300 2026 $172,400 Agenda Section Unfinished & Org Business Item Number 11.4 Request for Action, Page 2 As the council is aware, Abdo was successful in getting the city’s finance department back on sound footing after several staffing changes took place in 2008‐2009. Several accomplishments have been achieved since the implementation of Abdo’s services, including quarterly budget/investment reports, improvements to the budget format, updating the investment policy, overall better understanding of the city funds, accurate audit information, upgrading the city’s credit rating by Standard & Poors, development of ten year financial plan and improvements to the CIP budget. The city has also received the excellence in financial reporting certificate from the Government Finance Officers Association for the past 13 years (2009‐2021), and an application has been submitted for 2022. These certificates would not have been possible without Abdo’s work on behalf of the city. As has been discussed in the past, this is a unique approach to contract for financial oversight services, but the advantage has been that Abdo can provide a broad spectrum of services. Abdo is aware that sometime in the future the city may decide to hire a finance director and other finance personnel, and they are agreeable to assisting the city with that process. However, at this time, the city manager is recommending the city continue its working relationship with Abdo to continue to improve efficiencies, address budget challenges and continue to improve the financial condition of the city. Over the past several years, West Metro Fire‐ Rescue District and the city of Crystal have both started utilizing the services of Abdo. Recommendation Staff recommends renewing the contract. Funds have been included in the proposed 2024 budget. If Council supports renewing the contract, the item will be placed on the August 28 council meeting agenda. Attachment  August 14, 2023 Abdo Proposal Proposed by Victoria Holthaus, CPA Partner |Abdo victoria.holthaus@abdofs.com P 952.715.3069 August 14, 2023 SERVICE PROPOSAL FOR City of New Hope 4401 Xylon Ave,New Hope,Minnesota 55428 abdosolutions.com |Mankato, MN -Edina, MN -Scottsdale, AZ Valerie Leone,City Clerk/Treasurer City of New Hope 4401 Xylon Ave New Hope,Minnesota 55428 August 14, 2023 Dear Valerie, Thank you for the opportunity to submit this proposal to the City of New Hope, Minnesota (the City) for accounting services. Based on our past experience with the City of New Hope, and cities of comparable size and complexity, we believe our structured contract with defined outcomes offered through Abdo Financial Solutions, LLC (Abdo FS) would provide the City with excellent financial services. We believe our solution will result in the City receiving high-level information, continual improvement of processes and allow the City to keep overall costs stable. Our proposal is based on the needs of the City, as refined over our decade- long working relationship and the experiences we have had working with other cities. This proposal outlines the scope of services we believe will address the needs of the City. The following are a few ways, in which, our Financial Solutions team can provide continued suppor t the City: •Facilitate preparation for the annual financial audit, and continued submission for application to the Excellence in Financial Repor ting Award •Support the City Manager in leading the development of the annual financial budget, including facilitating meetings and discussion with Department Directors and the City Council •Prepare the City's ten year long-term financial plan, including projections for cash and debt position, property tax levies, and continued support for pay-as-you-go financing for capital purchases •Provide an annual economic development cash flow analysis, detailing the activity within each of the City's tax increment finance districts, along with the City's general economic development resources •Offer guidance on the implementation of new accounting standards, legislative changes impacting the City's budget, and other matters as they arise •Continue to provide weekly touch points with the finance team to provide work direction, and suppor t the team's continued growth and development •Assist with financial policy updates, as needed 1 The term of this contract shall be from January 1, 2024 through December 31, 2026. An Abdo FS representative will be in the City offices as necessary to perform responsibilities as noted on the Scope of Services page. Services will also be performed remotely as necessary. The investment required for our services is indicated on the value page, and this quote remain valid for thirty (30) days. Please note that Abdo FS is independent of the City as defined by auditing standards generally accepted in the United States of America. Abdo FS acknowledges the City has retained an independent registered municipal advisor (IRMA) to assist and advise the City in evaluating information relating to the issuance of municipal securities and/or municipal financial products. Abdo FS acknowledges the City will rely on advice from their IRMA.Abdo FS will have no recourse against the City or its IRMA, regarding action or inaction relating to evaluating, commenting on, or responding to financial projects or information received under this Agreement. Abdo FS acknowledges it is not the registered independent municipal advisor retained by the Municipal Entity Client. Abdo FS would like to thank the City for the opportunity to propose on these services. We look forward to exceeding your expectations and continuing our long-term, mutually beneficial relationship. Sincerely, Abdo Financial Solutions Victoria Holthaus, CPA Partner |Abdo 2 Cover Letter Continued The Abdo Difference At Abdo, we believe in the importance of relationships. This core value is the foundation of our approach to delivering the best experience and outcomes for our clients. It’s inherent in our people and the way we work. We know that for our clients to be successful, it takes more than having experience and credentials – we take the time to listen to their unique motivations, goals, and challenges. We truly care about their journey and where their path leads. Our process is built around a deep commitment to every client: We light the path forward so you can proceed with confidence. We're the par tner you can trust to help you along the way. We're the catalyst who empowers you to reach your goals. 33 LIGHTING THE PATH FORWARD Based on our ability to provide the requested services, our shared core values, and an understanding of your unique needs, we have the resources, knowledge, people and services to light the path forward for your city. We have assembled a team with relevant experience who are committed to working with you to ensure success. Each team member is briefly profiled below, and full biographies can be found in Appendix C. Your Team Partner victoria.holthaus@abdofs.com P 952.715.3069 VICTORIA HOLTHAUS, CPA Senior Manager erin.enstad@abdofs.com P 507.304.6809 ERIN ENSTAD, CPA 44 Manager annette.storm@abdofs.com P 952.449.6224 ANNETTE STORM Accounting Specialist jess.balderston@abdofs.com P 952.395.9338 JESS BALDERSTON OUR QUALIFICATIONS •GFOA and MnGFOA Association members •Government operations training •MSRB Municipal Advisor Qualified Representatives (Series 50 and Series 54) •Consulting services for over 100 cities •We’ve assisted many municipalities in preparing for the GFOA’s Certificate of Achievement for Excellence awards in financial reporting You can have confidence in our years of experience performing consulting services, the quality of the accounting services we offer and our understanding of the unique challenges our clients face in the government space. Since 1963, we’ve served cities just like yours. With an unwavering commitment to streamlining processes, training staff, and finding technology-based solutions, we proudly offer excellence in city consulting and auditing. Out of our 180-strong, talented staff, over 40 team members are 100% focused on government clients, which include over 100 cities and other governmental entities. By serving cities across Minnesota, we have become exper ts in the nuances of how to best support your city. Our exper tise affords you a consulting experience that is painless. We do this by communicating up front, coming fully prepared, and being available throughout the year to support you. PROCESS Our methods are centered around incorporating technology to deliver unparalleled solutions for government organizations. In addition to our consulting experience, our firm exper tly performs outsourcing for governments giving us a wealth of experience in a consulting role. We don’t believe in a one-size-fits-all mentality. So together, we’ll focus on the needs that are relevant to your city and provide the right services to meet them with a customized methodology based on your needs. We’re focused on developing creative, customized solutions to help your city mitigate costs and boost efficiency. FOCUS Through continuous training and growth oppor tunities, we’ve established an environment with a focus on serving government entities. We spend more than 100 hours training and onboarding to ensure success for our clients. We truly hope that you partner with us to light the path forward for your organization. Government Experience 5 Government Experience Continued OUR FINANCIAL MANAGEMENT AND CONSULTING SERVICES INCLUDE: •Budget process development •Capital improvement planning •Cash flow analysis •Cost containment processes •Debt management plans •ERP system consulting •Federal and State relations/grant consulting •Finance Director services •Financial management plans •Financial reporting and analysis •Fleet: Operations and replacement rate analysis •Interim accounting and financial services •Internal control evaluation •Long-term strategic planning •Payroll processing •Policy development •Process flows and efficiencies •Project management •Quarterly and monthly reporting to management •Reconciliations •Software implementation •Utility/fee analysis •Year-end audit preparation and financial statement preparation 6 Outsourced Finance Director Building relationships to become a valuable extension of your city is what our Financial Solutions team will be ardently focused on when we work with you. When you employ our team, you gain a fresh perspective on a broad range of topics — you’ll have one point of contact but a whole team of people bringing you value.With that said, we’ve had the oppor tunity to partner with over 100 clients in the Midwest. Among the support we provide, Outsourced Finance Director Services are a primary focus of our team. We offer this service for a broad range of cities with populations ranging from 800 —25,000 in size. Acting as outsourced finance directors and controllers requires a broad ranges of skills and experience. We bring a unique set of skills and experience as former government auditors, finance directors and controllers. Through this lens, we implement processes and procedures to improve your city's daily operations. Our experience translates to insights that streamline the audit and budget process and internal controls, consequently reducing audit findings and improving efficiencies. Ultimately, this will save your city time and money. PROCESS When you select our team, our process is made simple — for you and for your employees. First, we meet with your city administration to understand the challenges you face. We then analyze your financial statements, review budgets, and connect with your auditors to understand your financial position from their perspective. This gives us a holistic view to formulate a plan and propose how we can best support you. Once our proposal is accepted, we’ll work with key stakeholders to understand cash flow, investments, and begin fulfilling proposal initiatives. Together, we’ll identify priorities and begin implementation. QUALIFICATIONS Our people make the difference – we have three members on our team who have passed the Series 50 exam. These registered municipal advisors will manage your bonds, investments, and strategic planning initiatives. Out of 20 members in our Financial Solutions group, 60% of their work is focused on outsourced Finance Director services. The majority of our team members have worked in government organizations and public accounting, bringing you a fresh perspective backed by relevant experience. We’re confident that Abdo FS has the right expertise, team support, and recommendations to help your city grow. We look forward to supporting you and your team 77 SEE A SAMPLE REPORT See a sample of our quarterly financial reports. Value 8 We at Abdo FS help cities achieve their financial goals. Our fees range from $170 to $445 per hour based upon the experience and level of the individuals to be assigned to perform your work. Fees are also based on the assumption and limitations outlined in the Scope of Services. Below are the fees for our services. A monthly fee breakdown of the annual fees listed above for the Finance Director Services is provided below. This quote is valid for thirty (30) days. Initial invoice will be sent within 10 days of the execution of this agreement. Monthly installment fees will be invoiced throughout the remainder of this contract. In an effort to reduce environmental impact, you will receive printable, downloadable PDFs of your report. To receive one (1) paper report, you will be charged $150 for a set-up fee. Additional paper copies will be charged at the rate of $50 per report. We do not believe in charging for phone calls or emails during the year. When our communications identify additional service needs, we will provide you with an expected fee range. The City anticipates changing it's enterprise resource planning (ERP) system during the term of this engagement. The additional project management, and technical work that coincides with this cutover is not part of our general scope of services and a proposal has been provided. Technical work will be invoiced at our standard bill rates and a one-time project management fee will apply in the year of cutover. A separate scope of work follows. SERVICES CURRENT FEE 2023 ANNUAL FEE 2024 ANNUAL FEE 2025 ANNUAL FEE 2026 Finance Director Services $119,000 $148,150 $155,550 $163,300 Prepare TIF Reports and Cash Flows ** $8,350 $8,350 $8,750 $9,100 Prepare Long-term Plan and Cash Flows ** $6,100 Included in Finance Director Services above Included in Finance Director Services above Included in Finance Director Services above Prepare Budget/Wage Analysis and Central Garage Allocations ** $3,800 Discontinued; City moved to GovInvest software Discontinued; City moved to GovInvest software Discontinued; City moved to GovInvest software TOTAL $137,250 $156,500 $164,300 $172,400 SERVICES FIXED FEE ESTIMATED 2025 Project Management $28,500 8 9 ABDO FS CONTRACT TASK CLIENT RESPONSIBILITY FREQUENCY Cash and Investment Monitoring Reconcile investments and prepare interest and market value allocation Provide monthly statements and record cash transfers to the general ledger Monthly Review monthly general ledger reconciliations to ensure timely and accurately balance Prepare outstanding check report, deposit in transit summary, and reconcile the daily cash activity worksheet to the general ledger daily Monthly Verify bank has proper amount of collateral pledged to the City's account Provide monthly collateral statement from the bank Monthly Monthly / Quarterly Reporting Complete quarterly dashboard of key indicators Review and provide input; provide specific information for golf operations Quarterly Provide narrative to quarterly financial reporting Review and provide input Quarterly Review quarterly budget to actual reports for coding errors Review and provide input Quarterly Annual Reporting Complete the Financial Reporting Form and file with the Office of the State Auditor Review and provide input June 30 Ensure Tax Increment Finance District Reports to the Office of the State Auditor are completed Review and provide input August 1 Complete Summary Budget Report and file with the Office of the State Auditor Review and provide input January 31 Review the Property Tax Levy Report for the Minnesota Department of Revenue as prepared by City Review and provide input December 31 Review the PT Form 280 for the Minnesota Department of Revenue (if required) as prepared by the City Review and provide input September 30 Review TNT Form-20XX for the Minnesota Department of Revenue, as prepared by City Review and provide input December 28 Scope of Services 10 ABDO FS CONTRACT TASK CLIENT RESPONSIBILITY FREQUENCY Annual Budget Preparation Preliminary meetings with the City Manager and Department Directors Review and provide input July Prepare a City's management recommended property tax levy, along with a general outline of the City budgeted funds, including any potential budget funding gaps. This will include the all funds summary and preparation of all budget documents. Review and provide input July - August Assist in presenting the preliminary budget to Council prior to September 30th and assist in presenting the final budget to Council prior to December 28th Review and provide input August - December Review the Preliminary and Final Certification Forms as prepared by the City Review and provide input September 30 and December 31 Prepare long-term plan and cash flows Review and provide input November Special Projects Prepare TIF reports and TIF/EDA cash flows Review and provide input Annually Miscellaneous Tasks Provide oversight in recording/accounting for transactions Weekly Attend six (6) Council meetings for action items and budget discussions As needed Update Council, Manager and staff of new accounting standards On-going Provide assistance in reporting and closing out grant programs Monthly Monitor compliance for assigned activities On-going Maintain office hours at eight (8) a week, or as arrange in advance with the City Manager. May also utilize video conference as appropriate. On-going Scope of Services Continued 11 Project Management OVERVIEW The City of New Hope will be transitioning it's key technology and operational functions to a new enterprise resource planning, or ERP solution, in the next few years. A software implementation is a significant effort and investment for any organization, and having the right resources involved and key roles in place from the start is critical to a successful implementation.Partnering with an experienced Project Manager ensures that the City is equipped to direct staff and software stakeholders, manage and communicate project deadlines, coordinate communication and information sharing, monitor decisions and issue resolution, communicate scope changes, and help ensure the project stays on track and on budget. Additional key success factors, assumptions, roles and responsibilities are included within this proposal. OUR TEAM & APPROACH Abdo uses methods centered around technology and experience to deliver unparalleled solutions, focusing on relevant and customizable methodologies based on your needs. The Project Management function works with client, team, software vendor and technology to take current processes to the next level of performance, and to see beyond “current state” to continually support the client in working towards “ideal future state” and maximum potential.Our success in project management is driven by utilizing staff experienced in software implementations and project management, along with a focus on operational efficiency and effectiveness.Our Project Management team members bring strong organizational and communication skills to your team with keen attention to detail while also focusing on the team members and their needs throughout the project.. OVERALL RESPONSIBILITIES This client assigned Project Manager role serves as a single point of contact for the ERP implementation project.This role will provide internal project leadership for the City of New Hope team and create an environment of collaboration - listening to client needs, concerns and challenges, identifying resources and actions needed, and creating an environment and expectation of accountability across the entire team. A description of key responsibilities overall, and by project phase is included herein. 12 Scope of Services Continued The Project Manager role for the City of New Hope will include both overall responsibilities applicable throughout the project, as well as key responsibilities during the various phases. OVERALL RESPONSIBILITIES THROUGHOUT PROJECT •Provide internal coordination and communication with city leadership •Set and communicate clear expectations on accountability, and provide follow up and escalation as needed to the project/department champion(s) to ensure the city team members are completing assignments in accordance with the project schedule •Monitor project plan and issues list created and maintained by ERP to ensure tasks are completed and timelines are met by all city members •Risk management – identify and raise any issues for executive support with City leadership as well as the ERP implementation team •Change management – listen to understand primary concerns and priorities of internal staff.Using this information, the Project Manager will lead staff through the project by anticipating areas of resistance and utilizing key change management techniques ensuring full transparency, communication, and assisting staff in envisioning benefits and future state •Work with city administrative staff for scheduling and onsite meeting coordination •Ensure alignment with City's mission, values, and vision •Manage scope changes •Ensure an efficient exchange of information and timely decisions between the City and ERP implementation team •Lead team building and celebrations for completion of project milestones and successes •Provide continuity and connection across the City team PROJECT PLANNING, INDEPENDENT LEARNING AND DEFINE PHASE •Participate in onsite high level project kickoff •Lead internal City project team kickoff meeting •Participate in project planning •Review all project documentation and plans in an oversight capacity •Number of meetings planned (3) DEFINE PHASE •Monitor project plan and deliverables, and ensure deliverables are submitted in accordance with project schedule •Team building, change management, and planning with City team •Number of meetings planned (2) BUILD PHASE (ERP IMPLEMENTATION TEAM CONFIGURES SYSTEMS) •Monitor independent/self-training attendance and live training •Lead the City team in completing the user acceptance testing plan •Number of meetings planned (2) 13 MODEL PHASE (TRAINING & USER TESTING) •Participate in weekly project status meetings with City and ERP implementation project team •Lead internal project team meetings with City staff - 1 meeting every 2 weeks •Provide biweekly executive/stakeholder project status updates via email or meeting according to client preference •Lead staff through independent user acceptance testing •Attend user acceptance testing sessions scheduled with ERP implementation team •Participate in final system readiness assessment for Go-Live •Number of meetings planned (5) DEPLOY PHASE (FIRST TWO WEEKS AFTER GO-LIVE) •Facilitate daily 30-minute internal check in meetings with city staff •Serve as key point of contact for questions and issues, and address directly and/or provide to ERP implementation team •Attend daily open meeting time with ERP implementation team •Track and monitor post Go-Live issues and ensure resolution •Number of meetings planned (2) PROJECT CLOSE •Participate in final project assessment and close meeting PROJECT TIMELINE •To be determined Scope of Services Continued 14 Assumptions & Key Success Factors ASSUMPTIONS •The City provides an administrative resource to assist with scheduling and onsite meeting coordination •Most project management work to be completed remotely with key onsite time defined within each phase •Implementation will not exceed 90 days; if the project scope or timeline changes a change order will be presented KEY SUCCESS FACTORS •Client and client staff will commit the time needed for the various tasks (self-learning, live supported learning, self-testing, live suppor ted testing, meetings, communications, information/data/example gathering, and preparation) as identified in the project plan •Client will have the right resources identified from the star t of the project •Client resources will have the time needed to complete tasks •Client resources will be fully open to learning and to hands-on practice with the new environment •Client staff are committed to the success of this project •Client has little to no staff turnover during the project.Staff turnover will likely require additional time and cost due to additional training required and the potential of missed deadlines •Project team is committed to meet target completion dates provided by the software vendor and the Project Manager •Project team will devote uninterrupted time to the project •Client will make all management decisions, perform all management functions, and will provide an individual responsible to review and accept our work •Client will be responsible for the review and approval of all vendor invoices We believe technology should enhance our service offerings, making our work less intrusive, our time with you more productive and everyone’s data more secure. The use of technology in our financial accounting and consulting services enables us to streamline our processes and helps to automate cer tain functions of our work so we are able to spend more time analyzing our results and working directly with you. Through the outbreak of COVID-19, our team has been able to seamlessly move to a completely remote work environment with no loss of productivity, cooperation, or communication. Since March 17, 2020, our staff has been successfully conducting remote financial accounting and consulting services using the latest video conferencing and secure file sharing technology. Through Zoom, Microsoft Teams, or whatever technology your city may use, our team will continue to work through normal procedures, including regular meetings with you during the engagement to ensure effective collaboration with your team. We take the security of our client's data - and our own - very seriously. A number of systems are in place to ensure the safety of your city’s data. We operate on a remote distributed infrastructure leveraging Microsoft’s Cloud Platform Azure. This not only allows our staff to securely work from any computer, anywhere, any time, but also provides large- scale, cutting-edge technology and security for your data. Your data is housed in secure data centers that reside exclusively in the U.S. and not on laptops or local servers which could be stolen or misplaced. We continually provide security awareness training to our staff members to ensure they are good digital stewards of your data. In addition to this, we also consult bi annually with 3rd party security exper ts to conduct risk assessments and conduct annual penetration tests. IT ALSO MEANS: All firm staff use dual authentication to ensure that every login to our remote environment is secure and authorized. 15 Technology All data is saved on redundant servers and data centers so if one server fails, another immediately takes over with no data lost. All data is backed up continually which means we always have an extra copy for safe-keeping. All incoming emails, attachments, and embedded links are scanned for viruses prior to landing in our inbox, which allows us to operate with more protection from phishing emails, malware attacks, and other digital threats. Our cloud platform, Azure, is globally trusted by companies and governments and has numerous security compliance standard they adhere to. Reports of these can be provided as requested. CLIENT REFERENCES One of the things we enjoy most about our work is developing long-term relationships with our clients and watching their city thrive as we help them to evolve and grow. Our clients listed below serve as a sample of references of those we partner with for their financial accounting and consulting services. Additional references are available upon request. What Our Clients Say CITY OF CRYSTAL Kim Therres Assistant City Manager P 763.531.1132 SERVICES PROVIDED Long-term Plan Outsourced Finance Director Process Evaluation (ProEval) Utility Rate Study Budgeting Audit Preparation Utility Billing Payroll Processing CITY OF ST. LOUIS PARK Melanie Schmitt Finance Director P 952.924.2683 SERVICES PROVIDED Outsourced Finance Director Process Evaluation (ProEval) Audit Preparation Accounts Payable Automation CITY OF WAYZATA Jeff Dahl City Manager P 952.404.5309 SERVICES PROVIDED Outsourced Finance Director Audit Preparation Long-term Plan 16 17 18 Why Partner with Abdo “Listening to our clients’ needs, understanding their challenges, and adjusting how we work together is key to our partnership with the people we serve.” --Steve McDonald, CPA |Managing Partner LIGHTING THE PATH FORWARD In a world of ever-changing complexity, people need caring, empathetic and highly skilled professionals they can depend on to provide the right advice and solutions for them. Our clients seek growth and success, but also want security and confidence. For nearly 60 years, Abdo has provided insights for our clients to help them achieve their goals. That same innovative spirit is also what has earned us the title of being one of the top accounting firms in the Midwest. Abdo is a better firm today because of the efforts we made to support a culture driven by our core values of growth, relationships, and teamwork. With this foundation in place, we have successfully helped our clients identify and break through their own growth barriers. Every challenge they face is an opportunity for us to listen, understand and empower them with solutions and a plan to achieve their goals. It’s fulfilling to serve as the catalyst that helps them overcome obstacles that block their progress. When it comes to our working relationships, we are partners. We’re confidants. We’re the catalyst that sparks true business growth, providing guidance through every challenge and opportunity along the way. ABOUT ABDO Abdo is a full-service accounting and consulting firm that delivers customized strategies and innovative solutions to help businesses, governments and nonprofits succeed. With more than 180 professionals and nearly six decades of experience, Abdo is ranked as one of the top accounting firms in the Midwest. It is a licensed CPA firm with offices located in Minneapolis and Mankato, Minnesota, and Scottsdale, AZ. Abdo’s commitment to its clients is to gain in- depth knowledge of their unique challenges, opportunities, and needs. Through this consultative approach, Abdo partners with organization leaders to light the path forward to confidently reach their goals. 19 Value-added Services When you partner with Abdo, you get access to our entire catalog of services. Below is a selection of the additional solutions that we believe could be of great value to your city. If you have need of these services, please reach out to us so we can help! Our additional service offerings can be found at www.abdosolutions.com. HR & PAYROLL SERVICES We help employers better support their most valuable resource...their people.Having clear and consistent HR practices that best suit the individuality of your city is key, even more so in today’s tight employment environment. And because the right policies are just as important, we lend our HR expertise to help you strategically plan for your future. We help cities with: •Employee management and development •Regulatory compliance •Benefits analysis and administration, including the Affordable Care Act (ACA) and workers’ compensation •HR/Payroll software implementation and management •Advisory services such as specialized labor cost analysis, compensation studies, and HR process development and implementation STRATEGIC PLANNING We provide strategic planning in numerous areas to maximize and protect your city’s value. Areas include cash flow modeling and analysis, growth and profitability strategies, key employee incentives, management consulting as well as succession and exit planning strategies. Our accounting staff has the experience and diverse skills to help identify areas of interest and strategies to achieve desired goals. We strive to build a reliable and confidential relationship, and desire to become a trusted advisor that is accessible throughout the year with any planning needs that may arise. 2020 Appendix A AGREEMENT FOR FINANCIAL SERVICES 21 Agreement for Financial Services THIS AGREEMENT, is made and entered into on August 14, 2023 by and between the City of New Hope, Minnesota (hereinafter referred to as the “Client”), and Abdo Financial Solutions (hereinafter referred to as the “Contractor”). Articles of Agreement & Recitals WHEREAS, the Client is authorized and empowered to secure from time to time certain professional services through contracts with qualified consultants; and WHEREAS, the Contractor understands and agrees that: 1.The Contractor will act as an Independent Contractor in the performance of all duties under this Agreement. Accordingly, the Contractor shall be responsible for payment of all taxes, including federal, state and local taxes and professional/business license fees arising out of the Contractor’s activities; 2.The Contractor shall have no authority to bind the Client for the performance of any services or to obligate the Client. The Contractor is not an agent, servant, or employee of the Client and shall not make any such representations or hold himself/herself out as such; 3.The Contractor shall be the exclusive outsourced accounting service provider for the Client during the term of this Agreement; 4.The Contractor shall perform all professional services in a competent and professional manner, acting in the best interests of the Client at all times. 5.The Contractor shall not accrue any continuing contract rights for the services performed under this Agreement. NOW THEREFORE, in consideration of the mutual covenants and promises contained herein, it is agreed as follows: ARTICLE I INCORPORATION OF RECITALS The recitals and agreement set forth above are hereby incorporated into this Agreement. ARTICLE II LIABILITY INSURANCE Section 1 Liability Insurance:The Contractor shall obtain professional liability insurance, at their expense with liability insurance coverage minimums in the amount of $2,000,000, which Contractor must secure and maintain during the term of this Agreement. Contractor will provide Client with proof of liability insurance coverage under this Agreement in writing upon request by the Client. 22 ARTICLE III DURATION OF THE AGREEMENT Section 1 Duration:This Agreement shall commence upon date of execution by all parties and will remain in effect until December 31, 2026 unless earlier terminated as provided in Sections 2 and 3. Section 2 Client's Termination Rights:The Client may terminate this Agreement upon sixty (60) days written notice in the event the Client determines in its sole discretion that it is not in the Client's best interest to continue using Contractor’s services. The Client may terminate on ten (10) days written notice if the Contractor fails to perform its obligations under this Agreement. Section 3 Contractor’s Termination Rights:Contractor may terminate this Agreement upon thir ty (30) days written notice to Client in the event Client does not pay Contractor compensation as required under Article 5, Section 9 within fifteen (15) days after invoice is received by Client. In the event of non-payment within thirty (30) days, Contractor shall give the Client an oppor tunity to cure the default by giving a notice of such non-payment and an additional five (5) days after the Client's receipt of the notice to remit such payment, prior to giving a notice of termination. Contractor can also terminate the Agreement with one hundred twenty (120) days written notice if the Contractor believes it is in its best interests to terminate the Agreement. ARTICLE IV GENERAL Section 1 Authorized Client Agent:The Client's authorized agent for the purpose of administration of this Agreement is the City Manager. Said agent shall have final authority for approval and acceptance of the Contractor’s services performed under this Agreement and shall further have responsibility for administration of the terms and conditions of this Agreement. All notices under this Agreement shall be sent to the person and address indicated below on the signature lines. Section 2 Amendments: No amendments or variations of the terms and conditions of this Agreement shall be valid unless in writing and signed by the parties. Section 3 Assignability: The Contractor’s rights and obligations under this Agreement are not assignable or transferable. Section 4 Data:Any data or materials, including, but not limited to, reports, studies, photographs, negatives, or any and all other documents prepared by the Contractor or its outside consultants in the performance of the Contractor's obligations under this Agreement shall be the exclusive property of the Client, and any such data and materials shall be remitted to the Client by the Contractor upon completion, expiration, or termination of this Agreement. Further, any such data and materials shall be treated and maintained by the Contractor and its outside consultants in accordance with applicable federal, state and local laws. Further, Contractor will have access to data collected or maintained by the Client to the extent necessary to perform Contractor's obligations under this Agreement. Contractor agrees to maintain all data obtained from the Client in the same manner as the Client is required under the Minnesota Government Data Practices Act, Minnesota Statutes Chapter 13 or other applicable law (hereinafter referred to as the "Act"). Contractor will not release or disclose the contents of data classified as not public to any person except at the written direction of the Client. Upon receipt of a request to obtain and/or review data as defined in the Act, Contractor will immediately notify the Client. The Client shall provide written direction to Contractor regarding the request within a reasonable time, not to exceed fifteen (15) days. The Client agrees to indemnify, hold harmless and defend Contractor for any liability, expense, cost, damages, claim, and action, including attorneys' fees, arising out of or related to Contractor's complying with the Client's direction. Subject to the aforementioned, Contractor agrees to defend and indemnify the Client from any claim, liability, damage or loss asserted against the Client as a result of Contractor's failure to comply with the requirements of the Act. Upon termination and/or completion of this Agreement, Contractor agrees to return all data to the Client, as requested by the Client. 23 Agreement for Financial Services Continued 24 ARTICLE IV - CONTINUED GENERAL (CONTINUED) Section 5 Entire Agreement:This Agreement is the entire agreement between the Client and the Contractor, and it supersedes all prior written or oral agreements. There are no other covenants, promises, under takings, or understandings outside of this Agreement other than those specifically set forth. Any term, condition, prior course of dealing, course of performance, usage of trade, understanding, or agreement purpor ting to modify, vary, supplement, or explain any provision of this Agreement is null and void and of no effect unless in writing and signed by representatives of both par ties authorized to amend this Agreement. Section 6 Severability:All terms and covenants contained in this Agreement are severable. In the event any provision of this Agreement shall be held invalid by any court of competent jurisdiction, this Agreement shall be interpreted as if such invalid terms or covenants were not contained herein, and such holding shall not invalidate or render unenforceable any other provision hereof. Section 7 Contractor Fiscal Decision Waiver: Contractor is responsible for providing the Client with timely and accurate financial recommendations and information that allows the Council the ability to make final financial decisions. Contractor will provide final financial recommendations but is not responsible for the final decisions made regarding financial matters. Section 8 Client Employment of Contractor’s Employees: The Client acknowledges and agrees that Contractor’s workforce, including employees assigned to staff the engagement provided for under this Agreement, constitutes an important and vital aspect of Contractor’s business. In recognition of the foregoing and the harm that Contractor will suffer in the event of the loss of one or more of its employees, the Client agrees that during the Term of this Agreement and for a period of six (6) months following the termination of this Agreement for any reason (the “Restrictive Time Period”) the Client shall not, directly or indirectly, on behalf of itself or any person, firm, corporation, association or other entity, (a) recruit, solicit, or assist anyone else in the recruitment or solicitation of, any of Contractor’s employees to terminate their employment with Contractor and to become employed by or otherwise engaged with or by the Client in any capacity independent of Contractor; (b) hire or engage any Contractor employee; or (c) otherwise encourage or induce any of Contractor’s employees to terminate their employment with Contractor. Notwithstanding the foregoing, Contractor may (but shall not be obligated to) consent to the Client's recruitment, solicitation, employment or other engagement of a Contractor employee otherwise prohibited by this paragraph provided that (a) the Client discloses to Contractor in writing its desire to recruit, solicit, employ or otherwise engage the Contractor employee independent of Contractor before engaging with the Contractor employee regarding any such potential relationship; (b) the Client agrees to pay Contractor a Restrictive Covenant Exception Fee (as hereafter defined) in the event the Contractor employee becomes employed by or otherwise engaged with the Client independent of Contractor; and (c) Contractor provides written consent to the Client to engage with the Contractor employee regarding any such relationship. For purposes of this Agreement, the Restrictive Covenant Exception Fee shall be the greater of: (i) 150% of the annual contracted cost of Contractor’s services under this Agreement in addition to the annual contracted cost paid or due Contractor hereunder; or (ii) 150% of the fees paid or due Contractor for services provided under this Agreement during the twelve (12) month period immediately prior to the termination of this Agreement or, in the event the Agreement has not been terminated, during the twelve (12) month period immediately prior to Contractor’s provision of written consent to the Client to engage in the recruitment, solicitation, employment or other engagement of a Contractor employee otherwise prohibited by this paragraph. Agreement for Financial Services Continued 25 ARTICLE IV - CONTINUED GENERAL - CONTINUED Section 9 Compensation:The par ties agree that the Contractor shall be paid compensation for the services provided hereunder, payable for work performed in accordance with this Agreement, based on the fees indicated on the Value page of this proposal. Additional fees will not be incurred without prior approval of the Client. Initial invoice for anticipated first month fees will be sent within 10 days of the execution of this agreement. Monthly installment fees will be invoiced throughout the remainder of this Agreement. If the Agreement is for an hourly fee basis, invoices will be sent monthly. Section 10 Additional Services:Should the Client request additional services in addition to the Contracted Services, the Contractor will provide the Client with proposed fees for the services to be provided. The Client shall provide a written or electronic confirmation prior to the proposed services implementation. Section 11 Outside Contractors:It shall be the responsibility of Contractor to compensate any other outside consultants retained or hired by Contractor to fulfill their obligations under this Agreement and shall be responsible for their work and Contractor, by using outside contractors, shall not be relieved of its obligations under this Agreement. Section 12 Municipal Advisor:Abdo FS acknowledges the Client has retained an independent registered municipal advisor (IRMA) to assist and advise the Client in evaluating information relating to the issuance of municipal securities and/or municipal financial products. Abdo FS acknowledges the Client will rely on advice from their IRMA.Abdo FS will have no recourse against the Client or its IRMA, regarding action or inaction relating to evaluating, commenting on, or responding to financial projects or information received under this Agreement. Abdo FS acknowledges it is not the registered independent municipal advisor retained by the Municipal Entity Client. Agreement for Financial Services Continued Appendix B AGREEMENT FOR THE PROVISION OF PROFESSIONAL SERVICES 26 Agreement for the Provision of Professional Services WHEREFORE, this Agreement was entered into on the date set forth below and the undersigned, by execution hereof, represent that they are authorized to enter into this Agreement on behalf of the respective parties and state that this Agreement has been read by them and that the undersigned understand and fully agree to each, all and every provision hereof, and hereby, acknowledge receipt of a copy hereof. City of New Hope 4401 Xylon Ave, New Hope,Minnesota 55428 SIGNATURE Valerie Leone Abdo Financial Solutions, LLC 5201 Eden Avenue, Suite 250 Edina, Minnesota 55436 Victoria Holthaus, CPA Partner |Abdo August 14, 2023 27 Appendix C TEAM BIOS 28 Victoria Holthaus CPA Partner |Abdo Financial Solutions Municipal Advisor Representative (Series 50) Municipal Advisor Principal (Series 54) victoria.holthaus@abdofs.com P 952.715.3069 Vicki aims to simplify the complex for her clients. Her goal is to give them a solid understanding of their finances, so they can confidently plan ahead. She specializes in working with local governments and nonprofit agencies to strategize capital improvements, develop long-range financial plans, and troubleshoot accounting and financial challenges. She also provides process evaluation and process improvement services for nonprofit and private sector clients. Over the past several years, Vicki has helped many organizations with strategic upgrades to technology and software as they navigate new ways of interacting with constituents and customers. Along with the ability to creatively explain technical terms, Vicki has firsthand knowledge of the issues local governments often face. Prior to joining the firm, she served Minnesota municipalities and joint ventures in various finance and administrative roles. EDUCATION •Bachelor of Science in Accounting, National American University •Master of Ar ts in Public Administration, Hamline University •Minnesota Cer tified Municipal Clerk •Continuing professional education PROFESSIONAL MEMBERSHIPS •Minnesota and Arizona Society of Cer tified Public Accountants •American Institute of Certified Public Accountants •Minnesota Clerks and Finance Officers Association •Government Finance Officers Association of the United States and Canada •Minnesota and Arizona Government Finance Officers Association AFFILIATIONS •Hamline School of Business, Accounting Board Member •Arizona Women Leading Government Member QUALIFICATIONS •17 years of experience working with local governments and nonprofits in finance and administration •Experience with budgeting, capital planning, debt management, as well as being the process evaluation and improvement engagement lead •Previous speaker at MCFOA Municipal Clerks and Finance Officers Association, League of Minnesota Cities and has developed newsletter content on automation, long-term planning and process improvements TEAM MEMBER BIO abdosolutions.com |Edina, MN -Mankato, MN -Scottsdale, AZ 29 Erin Enstad CPA Senior Manager |Abdo Financial Solutions erin.enstad@abdofs.com P 507.304.6809 Erin joined the firm in 2011 after graduating from Minnesota State University, Mankato.She has nearly 12 years of experience working with local governments, including 10 years of governmental auditing.She has a wealth of knowledge and experience in all aspects of governmental finance, including, audit preparation, financial reviews, monthly and annual reporting, cash flow projects and budgeting.She enjoys developing processes and procedures to help simplify complex tasks. EDUCATION •Bachelor of Science in Accounting and Corporate Finance, Minnesota State University, Mankato •Continuing professional education PROFESSIONAL MEMBERSHIPS •American Institute of Certified Public Accountants •Minnesota Society of Certified Public Accountants •Government Finance Officers Association of the United States QUALIFICATIONS •10 years of experience auditing local governments and schools in Minnesota •Experience in a variety of roles within local government, including, but not limited to: monthly and annual reporting, audit preparation and review, budget development and control, training and supervising staff, cash flow projections, and long-range planning •Proficient in BS&A, JD Edwards and Banyon software systems TEAM MEMBER BIO abdosolutions.com |Edina, MN -Mankato, MN -Scottsdale, AZ 30 Annette Storm Manager |Abdo Financial Solutions annette.storm@abdofs.com P 952.449.6224 Annette joined the Firm in 2022 as a Manager in the Financial Solutions group. Prior to joining Abdo, Annette spent three years as the Director of Administrative Services and two years as the Assistant Finance Director for the City of Marshall and three years as an Accountant for Lyon County. She has a wealth of knowledge and experience in all aspects of governmental finance, including, but not limited to: budgeting, financial reviews, monthly and annual reporting, cash flow projects, economic development and software implementation. EDUCATION •Bachelor of Science in Accounting and Finance, Southwest Minnesota State University •Continuing professional education PROFESSIONAL MEMBERSHIPS •Minnesota Government Finance Officers Association •Government Finance Officers Association of the United States •Marshall, MN Young Professionals QUALIFICATIONS •9 years experience working with local governments •Experience in a variety of roles within local government, including, but not limited to: monthly and annual reporting, audit preparation and review, budget development and control, training and supervising staff, cash flow projections, and long-range planning •Experience in policy and procedures development •Leadership skills having managed finance teams/departments, participation in leadership meetings, and preparation of Council reports and attendance at City Council meetings •Proficient in Tyler Technologies Incode 9 and 10 software; including software conversion from version 9 to 10 along with account restructure •Proficient in AS400 County Tax Program, IFS Financial Software, Banyon and BS&A TEAM MEMBER BIO abdosolutions.com |Edina, MN -Mankato, MN -Scottsdale, AZ 31 Jess Balderston Accounting Specialist |Abdo Financial Solutions jess.balderston@abdofs.com P 952.395.9338 Jess joined the Firm in 2022 as part of the Firm’s Financial Solutions segment. Prior to joining the Firm, Jess worked for the City of Olivia for one year and worked in the software industry for ten years. She has experience in accounts receivable, accounts payable, bank reconciliations, payroll and utility billing. EDUCATION •Associates Degree, Administrative Assistant, Ridgewater College QUALIFICATIONS •1 year of experience working with local governments •Over 10 years of experience working in private sectors •Works extensively with QuickBooks, Tyler Technologies, Banyon, Black Mountain and Engagement •Experience with Microsoft Office Suite •Experience processing quarterly/yearly payroll reporting (941 Federal Tax Return, MN Department of Revenue Return, PERA, Unemployment Return, W-2, 1099) •Areas of expertise include: accounts receivable, accounts payable, bank reconciliations, payroll and utility billing •Quarterly/Monthly/Annual Reporting, including audit prep, quar terly reports and annual audits TEAM MEMBER BIO abdosolutions.com |Edina, MN -Mankato, MN -Scottsdale, AZ 32