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Long Term Plan 2023-2033
CITY OF NEW HOPE, MINNESOTA LONG-TERM PLAN Presented on November 20, 2023 Prepared by Abdo Financial Solutions THIS PAGE IS LEFT BLANK INTENTIONALLY 2 City of New Hope, Minnesota Long Term Plan Table of Contents Page No. Compilation Disclosure 5 Introductory Section Transmittal Letter 9 Financial Section Schedule of Property Taxes Levied and Tax Rates 14 Schedule of Annual Fund Cash Balances 18 Outstanding Debt Schedule 20 Capital Improvement Plan Fire Reserve Fund 9010 Schedule of Planned Capital Outlay 2023 to 2033 22 Schedule of Projected Revenue, Expenditures and Debt 22 City Hall Reserve Fund 9202 Schedule of Planned Capital Outlay 2023 to 2033 24 Schedule of Projected Revenue, Expenditures and Debt 26 Street Infrastructure Reserve Fund 9203 Schedule of Planned Capital Outlay 2023 to 2033 28 Schedule of Projected Revenue, Expenditures and Debt 28 Parks Infrastructure Reserve Fund 9233 Schedule of Planned Capital Outlay 2023 to 2033 30 Schedule of Projected Revenue, Expenditures and Debt 32 Central Garage Internal Service Fund 9402 Schedule of Planned Capital Outlay 2023 to 2033 34 Statement of Cash Flows 34 Sewer Enterprise Fund 9300 Schedule of Planned Capital Outlay 2023 to 2033 36 Statement of Cash Flows 36 Water Enterprise Fund 9301 Schedule of Planned Capital Outlay 2023 to 2033 38 Statement of Cash Flows 38 Storm Water Enterprise Fund 9304 Schedule of Planned Capital Outlay 2023 to 2033 40 Statement of Cash Flows 40 Street Light Enterprise Fund 9305 Schedule of Planned Capital Outlay 2023 to 2033 42 Statement of Cash Flows 42 Ice Arena Enterprise Fund 9303 Schedule of Planned Capital Outlay 2023 to 2033 44 Statement of Cash Flows 46 Golf Course Enterprise Fund 9302 Schedule of Planned Capital Outlay 2023 to 2033 48 Statement of Cash Flows 50 Information Technology Schedule of Planned Capital Outlay 2023 to 2033 52 Statement of Cash Flows 52 Selected Graphical Data from Projections 54 3 THIS PAGE IS LEFT BLANK INTENTIONALLY 4 November 20, 2023 COMPILATION DISCLOSURE Honorable Mayor and City Council City of New Hope 4401 Xylon Avenue North New Hope, Minnesota 55428 We have compiled the accompanying forecasted long-term plan that includes property tax, tax rate, fund balance and debt projections based on input from the City Council and City staff. This projection incorporates estimates through December 31, 2033. This forecast was compiled in accordance with attestation standards established by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of forecast information that is the representation of management and does not include evaluation of the support for the assumptions underlying the forecast. We have not examined the forecast and, accordingly, do not express an opinion or any other form of assurance on the accompanying statements or assumptions. Furthermore, there will usually be differences between the forecasted and actual results because events and circumstances frequently do not occur as expected, and those differences may be material. We have no responsibility to update this report for events and circumstances occurring after the date of this report. Sincerely, Abdo Financial Solutions 5 THIS PAGE IS LEFT BLANK INTENTIONALLY 6 INTRODUCTORY SECTION CITY OF NEW HOPE, MINNESOTA LONG TERM PLAN 7 THIS PAGE IS LEFT BLANK INTENTIONALLY 8 November 20, 2023 Honorable Mayor and City Council City of New Hope 4401 Xylon Avenue North New Hope, Minnesota 55428 Introduction As discussed in prior communications to the City Council, we have been preparing a long term plan for the City that is intended to give a big picture view of the status now and ten years from now. We have measured and projected operations, capital and debt for the City based on assumptions made by management. The City’s assumptions made are as follows: Assumptions The following assumptions have been used to calculate the projections in this report: Interest earnings 1.00% Governmental fund revenue growth (2)3.00% Governmental fund expenditure growth (2)4.00% Enterprise fund revenue growth(1)5.00% Enterprise fund expense growth(1)5.00% General Fund levy growth (3)Varies Street Infrastructure levy growth 5.00% Park levy growth 5.00% Park levy for Ice $500,000 EDA levy growth Varies Tax capacity growth (4)3.50% Population growth 0.58% Median home value growth 1.00% Enterprise debt term N/A Enterprise debt interest rate N/A Governmental funds debt term (2)N/A Governmental funds debt interest rate (2)N/A (1) Specific enterprise fund assumptions are noted in the Financial Section. (2) Specific governmental fund assumptions are noted in the Financial Section. (3) General Fund levy has been adjusted to meet minimum fund balance requirements. Levy increase is detailed on the Tax Summary in the Financial Section. (4) Growth in captured tax increment capacity has not been modeled, although it is expected to increase over time. A net 3.5% growth in non-captured tax capacity has been used for purposes of this report. 9 Assumptions with Future Action •Fire Capital Fund 9010 has proposed a $100,000 levy in 2024 to build reserves for future capital outlay needs. A comprehensive CIP for this fund was proposed in March 2022. •City Hall Capital Fund 9202 has proposed a $100,000 levy in 2024 to build reserves for future building and major capital expenditure needs. A comprehensive CIP for this fund was proposed in March 2022. •Swimming Pool Capital Fund 9204 has proposed a $100,000 levy in 2024 to build reserves for future capital outlay needs. A comprehensive CIP for this fund was proposed in March 2022. •Park Infrastructure Capital Fund 9233 will increase the levy for capital by 5 percent, annually. In addition, it is assumed that $500,000 will be levied each year to support Ice Arena capital and debt service obligations through 2033. The Ice Arena levy is shown as a transfer out from the Park Infrastructure Capital Fund. •Ice Arena Fund 9303 will continue to receive an annual transfer of levy dollars from the Park Infrastructure Capital Fund through 2033, other significant assumptions are as follows: o Ice Arena Fund 9303 will utilize a $825,000 interfund loan from the Temporary Financing Fund in 2026 to fund parking lot improvements. The long-term plan assumes a fifteen (15) year amortization and no interest on the interfund loans. •Golf Course Enterprise Fund 9302 capital outlay needs will be monitored and adjusted based on operating performance of the facility and available cash reserves. When possible, capital purchases will be delayed to ensure adequate cash flow is available. As needed, temporary interfund loans and/or transfers may be used to provide cash flow needed for capital acquisition and may be repaid in the subsequent year from operating revenue. As a result of the COVID-19 pandemic, the Golf Course fund has seen a significant increase in sales in 2020 and 2021. Due to these recent revenue trends future assumptions for this fund will need to be monitored. o Golf Course Enterprise Fund 9302 will utilize a $100,000 interfund loan from the Temporary Financing Fund in 2026 to fund cold storage replacement. The long-term plan assumes a fifteen (15) year amortization and no interest on the interfund loans. o Golf Course Enterprise Fund 9302 will utilize a $700,000 transfer from the Park Infrastructure Capital in 2026 to fund replacement of the irrigation system. •Street Infrastructure Capital Fund 9203 will increase the levy for capital by 5 percent, annually. Other significant assumptions are as follows: o Municipal State Aid revenue will be received for applicable projects. •Water Fund 9301 will receive a $2,500,000 payment from the Joint Water Commission in 2026 will offset project costs related to the repainting of the south water tower. •Street Light Fund 9305 plans to incur costs related to the Boone Signal Replacement, monument sign, and lighting project in the amount of $500,000 in 2023. The Fund will utilize a $500,000 interfund loan from the Sewer Fund to fund the project. The long-term plan assumes a five (5) year amortization and no interest on the interfund loans. •Central Garage Fund 9402 includes the value of cash in the Public Works Facility Fund 9240, which incorporates prior year transfers and Coronavirus Relief Act funding from the General Fund totaling $2,033,261. •No new debt issuance has been modeled in this long-term plan. 10 Key Highlights •At December 31, 2022, the General fund had a 46.9 percent unassigned fund balance. The Minnesota Office of the State Auditor defines an adequate reserve as 35-50 percent of the General fund expenditures. The City’s policy on fund balance currently specifies that a 42 percent reserve level shall be maintained. The projected General Fund balance remains within the 35-50 percent rage throughout the life of this Plan, although it does dip below the 42 percent for a couple of years (this will be monitored closely). We anticipate the General fund levy will grow by an average of 5 percent to maintain the desired reserve level. •The tax levy is projected to increase from $20 million (2024 proposed) to $27.5 million over the duration of this Plan. The levy increase will result in an increase in the projected tax rate, growing from 58 percent (2024 proposed) to 59 percent over the duration of this Plan. o Tax capacity is assumed to grow at a rate of 3.50 percent during the duration of this Plan. A growth in tax capacity in excess of these projections may result in lower tax rates in future years. •The annual tax amount for the Median Home is projected to increase from $1,851 (2024 proposed) to $2,061 over the duration of this Plan. •Total debt outstanding is projected to decrease from $43 million (2022 actual) to $4 million over the duration of this Plan. No new debt issuance has been modeled in this Plan. As a result, the debt per capita will decrease from $1,912 (2022 actual) per household to an estimated $166 over the duration of this Plan. •The total cash position of the City is projected to increase from $48 million (2022 actual) to $72 million over the duration of this Plan. •Contributions from the General Fund for Central Garage are assumed to remain at 100% over the duration of this Plan. •Intergovernmental revenue, tax increment, developer contributions or other outside funding has been identified in the separate capital fund worksheets. 11 THIS PAGE IS LEFT BLANK INTENTIONALLY 12 FINANCIAL SECTION CITY OF NEW HOPE, MINNESOTA LONG TERM PLAN 13 2022 2023 2024 2025 Actual Actual Estimated Estimated Amounts Amounts Amounts Amounts Property Taxes Levied for General Purposes 9001 General 11,393,354$ 12,076,955$ 12,674,488$ 13,434,957$ 9015 Economic Development Authority 153,000 160,650 168,683 218,683 9015 HRA 417,000 437,850 459,743 441,163 9203 Street Infrastructure 1,617,735 1,698,622 1,783,553 1,872,731 9233 Park Infrastructure (Additional Levy for Ice)500,000 500,000 500,000 500,000 9233 Park Infrastructure 404,938 425,185 446,444 468,766 9010 Fire Capital y - - 100,000 100,000 9202 City Hall y - - 100,000 100,000 9204 Swimming Pool y - - 100,000 100,000 Subtotal 14,486,027 15,299,262 16,332,911 17,236,300 Property Taxes Levied for Debt Service 9144 2015A GO Tax Increment Bonds 235,227 237,853 235,017 237,123 9149 2015B GO Improvement Bonds 205,240 208,745 206,685 206,554 9148 2016A GO Improvement Bonds 262,502 263,709 259,352 260,087 9150 2017A GO Improvement Bonds 1,706,828 1,705,515 1,706,828 1,707,983 9151 2018A GO Tax Abatement Bonds 862,739 867,464 865,784 862,634 9152 2019A GO Tax Abatement Bonds 472,448 470,768 468,668 471,398 Subtotal 3,744,984 3,754,054 3,742,334 3,745,779 Total Taxes Levied 18,231,011 19,053,316 20,075,245 20,982,079 Less: Value of Market Value Levies (417,000) (437,850) (459,743) (441,163) Less: Distribution from fiscal disparities (3,110,358) (2,815,427) (2,815,427) (2,815,427) City Net Levy 14,703,653$ 15,800,039$ 16,800,075$ 17,725,489$ Tax Capacity Personal and Real Estate 28,720,529$ 33,225,283$ 35,025,740$ 36,251,641$ Less: Contribution to fiscal disparities (3,682,171) (3,670,779) (4,207,100) (4,207,100) Less: Tax Increment (1,634,255) (1,912,890) (1,935,504) (1,935,504) Adjusted net tax capacity 23,404,103$ 27,641,614$ 28,883,136$ 30,109,037$ City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates For the Years Ended December 31, 2022 (Actual) and 2023 to 2033 (Estimated) 14 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 14,241,055$ 14,953,107$ 15,700,763$ 16,485,801$ 17,145,233$ 17,831,042$ 18,544,284$ 19,286,055$ 268,683 318,683 368,683 418,683 468,683 518,683 568,683 618,683 424,156 408,797 395,172 383,364 373,467 365,574 359,787 309,787 1,966,367 2,064,686 2,167,920 2,276,316 2,390,132 2,509,638 2,635,120 2,766,876 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 492,205 516,815 542,656 569,789 598,278 628,192 659,601 692,582 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 100,000 18,192,466 19,062,088 19,975,194 20,933,952 21,775,793 22,653,130 23,567,476 24,473,983 237,123 236,860 235,233 238,566 235,049 236,466 - - 206,306 210,467 209,116 206,111 208,198 - - - 260,507 260,612 260,402 259,877 264,287 262,974 261,347 - 1,709,820 1,708,508 1,710,030 1,710,293 1,710,713 1,708,823 1,709,873 1,708,770 863,422 862,634 863,317 863,369 862,792 866,834 864,839 866,480 468,248 469,928 470,998 469,980 468,668 467,040 470,348 467,933 3,745,426 3,749,009 3,749,096 3,748,196 3,749,707 3,542,137 3,306,408 3,043,184 21,937,892 22,811,097 23,724,290 24,682,148 25,525,500 26,195,267 26,873,884 27,517,167 (424,156) (408,797) (395,172) (383,364) (373,467) (365,574) (359,787) (309,787) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) (2,815,427) 18,698,309$ 19,586,873$ 20,513,691$ 21,483,357$ 22,336,606$ 23,014,266$ 23,698,670$ 24,391,953$ 37,520,448$ 38,833,664$ 40,192,842$ 41,599,592$ 43,055,577$ 44,562,523$ 46,122,211$ 47,736,488$ (4,207,100) (4,207,100) (4,207,100) (4,207,100) (4,207,100) (4,207,100) (4,207,100) (4,207,100) (1,935,504) (1,935,504) (1,935,504) (1,935,504) (1,935,504) (1,935,504) (1,935,504) (1,935,504) 31,377,844$ 32,691,060$ 34,050,238$ 35,456,988$ 36,912,973$ 38,419,919$ 39,979,608$ 41,593,885$ 15 2022 2023 2024 2025 Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Tax Rates General 40.18%37.08%37.58%38.51% EDA 0.53%0.49%0.49%0.62% Proposed capital levies 8.90%8.06%8.98%9.00% Scheduled debt levies 13.22%11.53%11.10%10.74% Proposed debt levies 0.00%0.00%0.00%0.00% Total City Levy Tax Rate 62.83%57.16%58.17%58.87% Total HRA Tax Rate 1.50%1.34%1.36%1.35% Population 22,636 22,767 22,898 23,031 Taxes per Capita 805$ 837$ 877$ 911$ Median Home Value (Jan 2)275,000$ 325,000$ 326,050$ 329,311$ Median Home Taxes (from city)1,649 1,812 1,851 1,894 % change from prior year $'s 8%10%2%2% Tax Levy ($) General 11,393,354$ 12,076,955$ 12,674,488$ 13,434,957$ Street Infrastructure 1,617,735 1,698,622 1,783,553 1,872,731 Economic Development Authority 153,000 160,650 168,683 218,683 HRA 417,000 437,850 459,743 441,163 Park Infrastructure 904,938 925,185 946,444 968,766 Capital levies - - 300,000 300,000 Scheduled debt levies 3,744,984 3,754,054 3,742,334 3,745,779 Tax Levy (%) General 62%63%63%64% Street Infrastructure 9%9%9%9% Economic Development Authority 1%1%1%1% HRA 2%2%2%2% Park Infrastructure 5%5%5%5% Capital levies 0%0%1%1% Scheduled debt levies 21%20%19%18% Proposed debt levies 0%0%0%0% General Fund Percentage Change in Levy (%) General Fund Levy Increase/(Decrease)5%6%5%6% All Funds Levy Increase/(Decrease)5%5%5%5% City of New Hope, Minnesota Schedule of Property Taxes Levied and Tax Rates (Continued) For the Years Ended December 31, 2022 (Actual) and 2023 to 2033 (Estimated) 16 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 39.45%39.99%40.55%41.11%41.25%41.35%41.46%41.57% 0.74%0.85%0.95%1.05%1.13%1.21%1.28%1.35% 9.03%9.04%9.07%9.09%9.11%9.13%9.15%9.18% 10.38%10.03%9.68%9.34%9.02%8.21%7.38%6.54% 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% 59.59%59.92%60.25%60.59%60.51%59.90%59.28%58.64% 1.24%1.14%1.05%0.98%0.91%0.86%0.81%0.66% 23,164 23,298 23,433 23,568 23,705 23,842 23,980 24,118 947$ 979$ 1,012$ 1,047$ 1,077$ 1,099$ 1,121$ 1,141$ 332,604$ 335,930$ 339,289$ 342,682$ 346,109$ 349,570$ 353,065$ 356,596$ 1,938 1,971 2,004 2,038 2,057 2,059 2,060 2,061 2%2%2%2%1%0%0%0% 14,241,055$ 14,953,107$ 15,700,763$ 16,485,801$ 17,145,233$ 17,831,042$ 18,544,284$ 19,286,055$ 1,966,367 2,064,686 2,167,920 2,276,316 2,390,132 2,509,638 2,635,120 2,766,876 268,683 318,683 368,683 418,683 468,683 518,683 568,683 618,683 424,156 408,797 395,172 383,364 373,467 365,574 359,787 309,787 992,205 1,016,815 1,042,656 1,069,789 1,098,278 1,128,192 1,159,601 1,192,582 300,000 300,000 300,000 300,000 300,000 300,000 300,000 300,000 3,745,426 3,749,009 3,749,096 3,748,196 3,749,707 3,542,137 3,306,408 3,043,184 65%66%66%67%67%68%69%70% 9%9%9%9%9%10%10%10% 1%1%2%2%2%2%2%2% 2%2%2%2%1%1%1%1% 5%4%4%4%4%4%4%4% 1%1%1%1%1%1%1%1% 17%16%16%15%15%14%12%11% 0%0%0%0%0%0%0%0% 6%5%5%5%4%4%4%4% 5%4%4%4%3%3%3%2% 17 2022 2023 2024 2025 Actual Estimated Estimated Estimated Amounts Amounts Amounts Amounts GOVERNMENT-TYPE General Operations 101 General 7,629,448$ 7,629,448$ 7,629,448$ 7,823,902$ Special Revenue 9002 Drug Task Force Equitable Sharing Funds 10,063 10,063 10,063 10,063 9015 Economic Development Authority (1)1,975,718 2,001,233 2,026,010 2,071,396 9016 Solid Waste Management 206,448 206,484 206,522 206,561 *9017 Ice Arena Endowment 5,236 5,288 5,341 5,395 *9018 CEE Revolving Loan 34,955 35,305 35,658 36,014 *9021 Police Forfeitures 128,930 130,219 131,521 132,837 Subtotal 2,351,287 2,378,529 2,405,052 2,452,203 Debt Service 9117-9121 HRA Bonds (1)522,175 (46,098) 34,869 111,546 9144 2015A GO Tax Increment Bonds 329,214 363,180 393,289 426,715 9148 2016A GO Bonds 321,904 350,889 374,935 402,174 9149 2015B GO Bonds 231,453 269,702 304,616 340,420 9150 2017A CIP Bonds 1,634,646 1,740,236 1,849,639 1,949,022 9151 2018A GO Tax Abatement Bonds 381,553 855,111 905,538 957,616 9152 2019A GO Tax Abatement Bonds 424,265 450,883 477,201 508,449 Subtotal 3,845,210 3,983,903 4,340,088 4,695,942 Capital Projects 9010 Fire Capital Projects 783,471 632,712 581,907 507,226 9202 City Hall CIP 672,902 679,631 786,427 894,292 9203 Street Infrastructure 1,845,962 82,916 443,105 (8,171) 9213-9228 HRA Construction (1)5,784,876 5,282,427 5,820,769 6,321,199 9233 Park Infrastructure 1,534,003 432,337 584,795 641,315 9234 Park/Pool Improvement Project 516,046 - - - 9242 Temporary Financing 1,501,214 551,946 746,353 939,260 Subtotal 12,638,474 7,661,969 8,963,357 9,295,120 Total - Governmental-type Funds 26,464,419 21,653,849 23,337,945 24,267,167 9402 Central Garage 10,545,142 10,105,536 3,935,009 4,464,762 *9407 Insurance Reserve 618,925 625,114 631,365 637,679 *9408 Employee Leave 2,176,047 2,197,807 2,219,786 2,241,983 *9409 Payroll Clearing - - - - 9410 Information Technology 821,106 957,596 629,057 583,644 Total - Internal Service Funds 14,161,220 13,886,054 7,415,217 7,928,068 BUSINESS-TYPE Enterprise Funds 9300 Sewer 2,561,438 2,591,502 2,910,703 3,335,496 9301 Water 3,909,250 1,474,071 1,989,707 (230,662) 9302 Golf Course 419,237 342,740 276,177 174,279 9303 Ice Arena (9,513) 467,180 493,350 381,166 9304 Storm Water 1,644,184 1,792,913 1,994,215 2,175,784 9305 Street Lighting 162,625 218,545 168,525 120,394 Total - Business-type Funds 8,687,221 6,886,950 7,832,677 5,956,455 Grand Total - City 49,312,860$ 42,426,854$ 38,585,839$ 38,151,690$ *Annual growth in fund balance of 1% assumed (1)Projections based on TIF Cash Flow Analysis updated by Abdo in 2023 Trend Indicator Adequate for reserve levels Adequate as of 2022 but decreasing balances, watch Below targeted reserve levels and should have a plan to address The fund has events in the future that need addressing now INTERNAL SERVICE City of New Hope, Minnesota Schedule of Annual Fund Cash Balances For the Years Ended December 31, 2022 (Actual) and 2023 to 2033 (Estimated) 18 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Trend 8,234,025$ 8,740,333$ 9,351,914$ 10,078,520$ 10,765,751$ 11,409,979$ 12,007,369$ 12,553,870$ 10,063 10,063 10,063 10,063 10,063 10,063 10,063 10,063 2,132,157 1,993,190 1,841,038 1,704,770 1,585,222 1,567,354 1,589,304 1,593,781 206,603 206,647 206,693 206,741 206,792 206,845 206,901 206,901 5,449 5,503 5,558 5,614 5,670 5,727 5,784 5,842 36,374 36,738 37,105 37,476 37,851 38,230 38,612 38,998 134,165 135,507 136,862 138,230 139,613 141,009 142,419 143,843 2,514,748 2,377,585 2,227,256 2,092,832 1,975,148 1,959,164 1,983,020 1,989,365 187,365 285,016 392,199 504,257 620,114 620,114 620,114 620,114 459,715 492,506 524,051 559,649 590,703 624,663 421,678 421,678 429,513 456,812 483,930 510,726 542,310 570,269 597,416 364,204 376,529 417,599 455,690 492,356 533,157 365,219 365,219 365,219 2,061,318 2,172,050 2,274,205 2,375,773 2,484,935 2,592,908 2,704,830 2,808,175 1,014,107 1,069,809 1,121,245 1,172,383 1,223,193 1,278,896 1,329,128 1,383,671 534,246 564,924 595,371 622,276 648,969 675,434 706,906 733,039 5,062,793 5,458,715 5,846,691 6,237,419 6,643,380 6,727,502 6,745,292 6,696,100 612,298 718,421 825,605 933,861 1,043,200 1,153,632 1,265,168 1,377,820 1,001,235 1,111,247 1,222,359 1,334,583 1,447,929 1,558,408 1,673,992 1,788,732 (410,496) 1,722,949 1,885,191 2,694,868 3,504,610 6,173,195 8,302,967 8,975,578 4,972,855 5,261,894 5,284,434 5,306,899 5,329,827 5,329,827 5,329,827 5,329,827 243,090 95,357 (19,829) 335,372 769,732 819,023 752,434 1,150,328 - - - - - - - - 205,667 382,240 558,813 735,387 911,960 1,088,534 1,265,107 1,441,680 6,624,647 9,292,109 9,756,574 11,340,970 13,007,258 16,122,619 18,589,495 20,063,965 22,436,213 25,868,742 27,182,435 29,749,740 32,391,536 36,219,264 39,325,176 41,303,299 4,664,818 4,924,787 5,048,164 5,336,623 5,565,007 5,796,069 6,403,353 7,094,319 644,056 650,496 657,001 663,571 670,207 676,909 683,678 690,515 2,264,403 2,287,047 2,309,918 2,333,017 2,356,347 2,379,911 2,403,710 2,427,747 - - - - - - - - 654,085 752,737 863,090 949,649 1,137,233 1,323,014 1,606,379 1,934,696 8,227,363 8,615,068 8,878,173 9,282,860 9,728,795 10,175,902 11,097,120 12,147,276 3,906,508 4,217,795 4,635,021 4,757,898 4,981,280 5,204,147 5,590,321 6,015,171 672,850 1,634,302 1,750,187 2,854,388 4,070,290 3,162,041 4,634,898 6,304,934 94,411 (7,608) (46,523) (63,842) (68,436) (51,212) (15,925) 37,692 304,410 132,556 206,820 456,931 770,317 1,098,630 1,401,039 1,725,306 2,505,623 2,692,151 2,894,176 3,231,588 3,466,404 3,517,335 3,981,892 4,492,942 74,290 30,361 (11,242) 49,645 114,190 182,582 255,022 331,716 7,558,093 8,699,557 9,428,440 11,286,609 13,334,044 13,113,523 15,847,248 18,907,762 38,221,669$ 43,183,366$ 45,489,047$ 50,319,210$ 55,454,375$ 59,508,690$ 66,269,543$ 72,358,337$ 19 City of New Hope, Minnesota Outstanding Debt Schedule For the Years Ended December 31, 2022 (Actual) and 2023 to 2033 (Estimated) 2022 2023 2024 Original Issue Maturity Interest Actual Estimated Estimated Fund Issue Issue Date Date Rate Balance Balance Balance GOVERNMENT-TYPE General Obligation Bonds 9117 G.O. Tax Increment Refunding, Series 2012A 90%2,425,500$ 1/11/2012 2/1/2025 2.00 - 2.45 %720,000$ 486,000$ 247,500$ 9118 G.O. Tax Increment Refunding, Series 2012A 10%269,500 1/11/2012 2/1/2025 2.00 - 2.45 80,000 54,000 27,500 9119 G.O. Tax Increment Refunding, Series 2012B 1,330,000 1/11/2012 2/1/2031 1.35 - 4.65 865,000 780,000 690,000 9121 G.O. Tax Increment Finance, Series 2015A 1,859,000 6/17/2015 2/1/2032 2.00 - 3.00 1,303,743 1,186,780 1,066,699 9144 G.O. Tax Increment Finance, Series 2015A 2,536,000 6/17/2015 2/1/2032 2.00 - 3.00 1,778,591 1,619,028 1,455,211 9148 G.O Improvement Bonds, Series 2016A 2,824,075 12/29/2016 2/1/2033 2.25 - 3.00 2,190,040 2,018,443 1,841,030 9149 G.O. Improvement Bonds, Series 2015B 2,075,000 12/1/2015 2/1/2031 0.75 - 2.90 1,353,495 1,217,874 1,076,829 9150 G.O Improvement Bonds, Series 2017A 18,435,000 12/28/2017 2/1/2034 3.00 - 5.00 15,605,000 14,580,000 13,505,000 9151 G.O Tax Abatement Bonds, Series 2018A 9,520,000 12/20/2018 2/1/2035 3.00 - 5.00 8,565,000 8,055,000 7,515,000 9152 G.O Tax Abatement Bonds, Series 2019A 5,235,000 7/18/2019 2/1/2035 3.00 - 4.00 4,695,000 4,405,000 4,105,000 Total Government-type 46,509,075 37,155,868 34,402,126 31,529,767 BUSINESS-TYPE General Obligation Bonds 9300 G.O. Tax Increment Finance, Series 2015A 528,000 6/17/2015 2/1/2032 2.00 - 3.00 370,348 337,123 303,012 9301 G.O. Tax Increment Finance, Series 2015A 504,000 6/17/2015 2/1/2032 2.00 - 3.00 353,628 321,903 289,332 9304 G.O. Tax Increment Finance, Series 2015A 533,000 6/17/2015 2/1/2032 2.00 - 3.00 373,692 340,167 305,748 9300 G.O. Improvement Bonds, Series 2015B 200,000 12/1/2015 2/1/2031 0.75 - 2.90 130,457 117,386 103,791 9301 G.O. Improvement Bonds, Series 2015B 1,200,000 12/1/2015 2/1/2031 0.75 - 2.90 782,745 704,314 622,745 9304 G.O. Improvement Bonds, Series 2015B 350,000 12/1/2015 2/1/2031 0.75 - 2.90 228,301 205,425 181,634 9300 G.O Improvement Bonds, Series 2016A 231,901 12/29/2016 2/1/2033 2.25 - 3.00 179,836 165,746 151,177 9301 G.O Improvement Bonds, Series 2016A 1,072,408 12/29/2016 2/1/2033 2.25 - 3.00 831,641 766,479 699,109 9304 G.O Improvement Bonds, Series 2016A 726,616 12/29/2016 2/1/2033 2.25 - 3.00 563,482 519,332 473,684 9303 G.O Tax Abatement Bonds, Series 2021A 2,020,000 3/11/2021 12/1/2028 1.00 1,555,000 1,295,000 1,025,000 Total G.O. Bonds 7,365,925 5,369,132 4,772,874 4,155,233 Revenue Bonds 9301 G.O. Public Facilities Authority Note, 2011 411,738 2/23/2011 8/20/2029 1.70 167,000 144,000 121,000 9301 G.O. Public Facilities Authority Note, 2013 1,035,000 7/24/2013 8/20/2032 1.00 579,000 524,000 468,000 Total G.O. Revenue Bonds 2,826,738 746,000 668,000 589,000 Total Business-type 13,697,663 6,115,132 5,440,874 4,744,233 Total All Funds 60,206,738$ 43,271,000$ 39,843,000$ 36,274,000$ Population 22,636 22,767 22,898 Debt Per Capita - total 1,912$ 1,750$ 1,584$ 20 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Balance Balance Balance Balance Balance Balance Balance Balance Balance -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - 595,000 500,000 395,000 295,000 195,000 95,000 - - - 945,058 820,298 692,419 561,421 427,304 288,508 146,594 - - 1,289,266 1,119,066 944,611 765,901 582,936 393,588 199,986 - - 1,660,708 1,474,569 1,282,613 1,084,841 881,251 671,845 453,714 229,766 - 933,070 786,600 637,417 482,809 325,489 165,456 - - - 12,375,000 11,210,000 9,985,000 8,700,000 7,375,000 6,010,000 4,590,000 3,115,000 1,580,000 6,955,000 6,370,000 5,755,000 5,110,000 4,445,000 3,760,000 3,055,000 2,325,000 1,575,000 3,795,000 3,470,000 3,135,000 2,785,000 2,420,000 2,045,000 1,660,000 1,265,000 855,000 28,548,101 25,750,532 22,827,059 19,784,971 16,651,979 13,429,397 10,105,293 6,934,766 4,010,000 268,458 233,018 196,692 159,480 121,382 81,955 41,642 - - 256,338 222,498 187,812 152,280 115,902 78,255 39,762 - - 270,882 235,122 198,468 160,920 122,478 82,695 42,018 - - 89,935 75,817 61,438 46,536 31,372 15,948 - - - 539,608 454,902 368,628 279,216 188,236 95,687 - - - 157,386 132,680 107,517 81,438 54,902 27,909 - - - 136,370 121,085 105,322 89,082 72,364 55,169 37,257 18,867 - 630,634 559,950 487,057 411,955 334,645 255,125 172,292 87,251 - 427,289 379,396 330,008 279,122 226,740 172,861 116,737 59,117 - 740,000 445,000 135,000 - - - - - - 3,516,899 2,859,468 2,177,941 1,660,029 1,268,021 865,603 449,708 165,234 - 98,000 74,000 50,000 25,000 - - - - - 412,000 355,000 297,000 239,000 180,000 121,000 61,000 - - 510,000 429,000 347,000 264,000 180,000 121,000 61,000 - - 4,026,899 3,288,468 2,524,941 1,924,029 1,448,021 986,603 510,708 165,234 - 32,575,000$ 29,039,000$ 25,352,000$ 21,709,000$ 18,100,000$ 14,416,000$ 10,616,001$ 7,100,000$ 4,010,000$ 23,031 23,164 23,298 23,433 23,568 23,705 23,842 23,980 24,118 1,414$ 1,254$ 1,088$ 926$ 768$ 608$ 445$ 296$ 166$ 21 City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 2025 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Fire 2023 Fire Aluminum doors (main and back)25,000$ 25,000$ -$ -$ Fire 2024 Fire Bay make up air and exhaust 50,000 - 50,000 - Fire 2024 Fire Fence west, south property line - - - - Fire 2024 Fire West concrete apron / bollards 30,000 - 30,000 - Fire 2025 Fire Automated HVAC 135,000 - - 135,000 Fire 2025 Fire Rear parking lot seal coat 7,500 - - 7,500 Fire 2025 Fire Tuck pointing west, south walls 28,000 - - 28,000 Fire 2025 Fire Water heater replacement 10,000 - - 10,000 Fire 2027 Fire Flat roof (1992)- - - - 25,000$ 80,000$ 180,500$ City of New Hope, Minnesota Capital Improvement Plan - Fire Capital Projects Fund 9010 Schedule of Projected Revenue, Expenditures and Debt 2023 2024 2025 Estimated Estimated Estimated Revenues Property taxes -$ 100,000$ 100,000$ Interest on investments 7,835 6,327 5,819 Miscellaneous - - - Total Revenues 7,835 106,327 105,819 Expenditures Capital outlay Public safety 25,000 80,000 180,500 Excess (Deficiency) of Revenues Over (Under) Expenditures (17,165) 26,327 (74,681) Other Financing Sources Transfers out (133,594) (77,132) - Total Other Financing Sources (133,594) (77,132) - Net Change in Fund Balances (150,759) (50,805) (74,681) Fund Balances January 1 783,471 632,712 581,907 Fund Balances, December 31 632,712$ 581,907$ 507,226$ Capital Project Fund Projected Activity 22 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -$ -$ -$ -$ -$ -$ -$ -$ 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 5,072 6,123 7,184 8,256 9,339 10,432 11,536 12,652 - - - - - - - 105,072 106,123 107,184 108,256 109,339 110,432 111,536 112,652 - - - - - - - - 105,072 106,123 107,184 108,256 109,339 110,432 111,536 112,652 - - - - - - - - - - - - - - - - 105,072 106,123 107,184 108,256 109,339 110,432 111,536 112,652 507,226 612,298 718,421 825,605 933,861 1,043,200 1,153,632 1,265,168 612,298$ 718,421$ 825,605$ 933,861$ 1,043,200$ 1,153,632$ 1,265,168$ 1,377,820$ Capital Project Fund Projected Activity 23 City of New Hope, Minnesota Capital Improvement Plan - City Hall Capital Projects Fund 9202 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 2025 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts City Hall 2026 Kitchen applicances - 3 refrigerators 2,000$ -$ -$ -$ City Hall 2031 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2033 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2034 Floor (carpet)204,000 - - - City Hall 2034 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2034 Irrigation system 10,000 - - - City Hall 2034 Landscaping/trees/benches 20,000 - - - City Hall 2034 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2036 HVAC (boilers)110,000 - - - City Hall 2039 Parking lot lights 25,000 - - - City Hall 2039 Floor (linoleum)20,000 - - - City Hall 2039 Roof 970,000 - - - City Hall 2040 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2041 HVAC (makeup air units)95,000 - - - City Hall 2041 HVAC (air handlers)130,000 - - - City Hall 2043 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2047 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2049 Floor (carpet)204,000 - - - City Hall 2049 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2049 Irrigation system 10,000 - - - City Hall 2049 Landscaping/trees/benches 20,000 - - - City Hall 2049 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2049 Light fixtures 447,000 - - - City Hall 2049 Garage doors (8 total - 3 are Tytec, 3 are Cornell and 2 are Wayne Dalton brand 214,000 - - - City Hall 2049 Heated sidewalk circuits 5,000 - - - City Hall 2053 HVAC (boilers)110,000 - - - City Hall 2054 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2055 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2059 Floor (tile)58,000 - - - City Hall 2059 Parking lot lights 25,000 - - - City Hall 2059 Floor (linoleum)20,000 - - - City Hall 2059 Roof 970,000 - - - City Hall 2061 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2063 HVAC (makeup air units)95,000 - - - City Hall 2063 HVAC (air handlers)130,000 - - - City Hall 2064 Floor (carpet)204,000 - - - City Hall 2064 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2064 Irrigation system 10,000 - - - City Hall 2064 Landscaping/trees/benches 20,000 - - - City Hall 2064 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2067 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2068 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2070 HVAC (boilers)110,000 - - - City Hall 2075 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2079 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2079 Floor (carpet)204,000 - - - City Hall 2079 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2079 Irrigation system 10,000 - - - City Hall 2079 Landscaping/trees/benches 20,000 - - - City Hall 2079 Security system/card readers, monitors, SMART board 100,000 - - - City Hall 2079 Parking lot lights 25,000 - - - City Hall 2079 Floor (linoleum)20,000 - - - City Hall 2079 Roof 970,000 - - - City Hall 2079 Light fixtures 447,000 - - - City Hall 2079 Garage doors (8 total - 3 are Tytec, 3 are Cornell and 2 are Wayne Dalton brand 214,000 - - - City Hall 2079 Heated sidewalk circuits 5,000 - - - City Hall 2082 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2085 HVAC (makeup air units)95,000 - - - City Hall 2085 HVAC (air handlers)130,000 - - - City Hall 2087 HVAC (boilers)110,000 - - - City Hall 2089 Kitchen applicances - 3 refrigerators 2,000 - - - City Hall 2091 Kitchen applicances - 2 stoves 4,000 - - - City Hall 2094 Floor (terrazzo)118,000 - - - City Hall 2094 Floor (carpet)204,000 - - - City Hall 2094 Customer entrance doors and handicapped buttons 45,000 - - - City Hall 2094 Irrigation system 10,000 - - - City Hall 2094 Landscaping/trees/benches 20,000 - - - City Hall 2094 Security system/card readers, monitors, SMART board 100,000 - - - -$ -$ -$ 24 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 2,000$ -$ -$ -$ -$ -$ -$ -$ - - - - - 4,000 - - - - - - - - - 2,000 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,000$ -$ -$ -$ -$ 4,000$ -$ 2,000$ 25 City of New Hope, Minnesota Capital Improvement Plan - City Hall Capital Projects Fund 9202 Schedule of Projected Revenue, Expenditures and Debt 2023 2024 2025 Estimated Estimated Estimated Revenues Property taxes -$ 100,000$ 100,000$ Interest on investments 6,729 6,796 7,864 Total Revenues 6,729 106,796 107,864 Expenditures Capital outlay General government - - - Excess (Deficiency) of Revenues Over (Under) Expenditures 6,729 106,796 107,864 Fund Balances January 1 672,902 679,631 786,427 Fund Balances, December 31 679,631$ 786,427$ 894,292$ *Transfers in from General Fund surplus in the amount of $100K were made in: 2012, 2013, 2014, 2015, 2016, and 2018 Capital Project Fund Projected Activity 26 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 8,943 10,012 11,112 12,224 13,346 14,479 15,584 16,740 108,943 110,012 111,112 112,224 113,346 114,479 115,584 116,740 2,000 - - - - 4,000 - 2,000 106,943 110,012 111,112 112,224 113,346 110,479 115,584 114,740 894,292 1,001,235 1,111,247 1,222,359 1,334,583 1,447,929 1,558,408 1,673,992 1,001,235$ 1,111,247$ 1,222,359$ 1,334,583$ 1,447,929$ 1,558,408$ 1,673,992$ 1,788,732$ Capital Project Fund Projected Activity 27 City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Public works 2023 SI Sidewalk replace 100,000 100,000$ -$ Public works 2023 SI 42nd Ave and 169 Gettysburg Signal Replacement 300,000 300,000 - Public works 2023 SI 2023 Local Projects (Crack, Seal Coat & Fog Seal) 622,277 622,277 - Public works 2023 SI 42nd Ave & Boone (Multiple Projects: Trail, Utilities, Boone Ave Signal Replace, Henn Co 42nd Rehab, Bridge) (MSA)958,245 958,245 - Public works 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 2,358,391 2,358,391 - Public works 2023 SI Noise Wall from Bass Lake Road to 62nd Ave 270,000 270,000 - Public works 2024 SI Sidewalk replace 100,000 - 100,000 Public works 2024 SI 36th Ave. Bridge Replacement (MSA)100,000 - 100,000 Public works 2024 SI 2024 Local Projects (Crack, Seal Coat & Fog Seal) 389,323 - 389,323 Public works 2024 SI 2024 Street Infrastructure - 56th, Xylon , 36th (MSA)963,832 - 963,832 Public works 2024 SI 2024 Street Infrastructure - 31st 406,547 - 406,547 Public works 2024 SI 2024 Street Infrastructure - Joint project with the City of Crystal - Louisiana (MSA)1,087,572 - 1,087,572 Public works 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park & other Streets 946,823 - 946,823 Public works 2025 SI 2025 Local Projects (Crack, Seal Coat & Fog Seal) 670,679 - - Public works 2025 SI 2025 Street & Infrastructure Improvements (MSA)15,841 - - Public works 2025 SI 2025 Street & Infrastructure Improvements - Local Streets 1,977,759 - - Public works 2025 SI Sidewalk Replacement 100,000 - - Public works 2026 SI 2026 Local Projects (Crack, Seal Coat & Fog Seal) 498,322 - - Public works 2026 SI 2026 Street & Infrastructure Improvements (MSA)302,225 - - Public works 2026 SI 2026 Street & Infrastructure Improvements - Local Streets 2,291,789 - - Public works 2026 SI Sidewalk Replacement 200,000 - - Public works 2027 SI Sidewalk Replacement 100,000 - - Public works 2027 SI 2027 Local Projects (Crack, Seal Coat & Fog Seal) 525,135 - - Public works 2027 SI 2027 Street & Infrastructure Improvements (MSA)388,220 - - Public works 2028 SI 2028 Local Projects (Crack, Seal Coat & Fog Seal)783,274 - - Public works 2028 SI 2028 Street & Infrastructure Improvements (MSA)1,094,061 - - Public works 2028 SI 2028 Street & Infrastructure Improvements - Local Streets 1,937,634 - - Public works 2029 SI 2029 Local Projects (Crack, Seal Coat & Fog Seal)693,099 - - Public works 2029 SI 2029 Street & Infrastructure Improvements - Local Streets 1,490,392 - - Public works 2030 SI 2030 Local Projects (Crack, Seal Coat & Fog Seal)768,585 - - Public works 2030 SI 2030 Street & Infrastructure Improvements (MSA)630,018 - - Public works 2030 SI 2030 Street & Infrastructure Improvements - Local Streets 1,536,753 - - Public works 2031 SI 2031 Local Projects (Crack, Seal Coat & Fog Seal)522,871 - - Public works 2031 SI 2031 Street & Infrastructure Improvements (MSA)1,155,366 - - Public works 2031 SI 2031 Street & Infrastructure Improvements - Local Streets 51,228 - - Public works 2032 SI 2032 Local Projects (Crack, Seal Coat & Fog Seal)178,833 - - Public works 2032 SI 2032 Street & Infrastructure Improvements (MSA)1,609,114 - - Public works 2032 SI 2032 Street & Infrastructure Improvements - Local Streets 1,086,248 - - Public works 2033 SI 2033 Local Projects (Crack, Seal Coat & Fog Seal)844,713 - - Public works 2033 SI 2033 Street & Infrastructure Improvements (MSA)652,729 - - Public works 2033 SI 2033 Street & Infrastructure Improvements - Local Streets 2,030,582 - - - - - - - - 4,608,913$ 3,994,097$ City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Projected Revenue, Expenditures and Debt 2023 2024 Estimated Estimated Revenues Property taxes (5% increase annually)1,698,622$ 1,783,553$ Interest on investments 30,000 829 Franchise fees 540,000 698,000 Total Revenues 2,268,622 2,482,382 Expenditures Capital outlay Public works 4,608,913 3,994,097 Excess (Deficiency) of Revenues Over (Under) Expenditures (2,340,291) (1,511,715) Other Financing Sources Transfer out (to the General Fund for Emerald Ash Borer removal)(300,000) (200,000) Intergovernmental revenue (Municipal State Aid - MSA)958,245 2,151,404 Interfund loan repayment (from Temporary Financing Fund issued in 2016)(81,000) (79,500) Total Other Financing Sources 577,245 1,871,904 Net Change in Fund Balances (1,763,046) 360,189 Fund Balances January 1 1,845,962 82,916 Fund Balances, December 31 82,916$ 443,105$ Capital Project Fund Projected Activity 28 City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Planned Capital Outlay 2023 to 2033 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 670,679 - - - - - - - - 15,841 - - - - - - - - 1,977,759 - - - - - - - - 100,000 - - - - - - - - - 498,322 - - - - - - - - 302,225 - - - - - - - - 2,291,789 - - - - - - - - 200,000 - - - - - - - - - 100,000 - - - - - - - - 525,135 - - - - - - - - 388,220 - - - - - - - - - 783,274 - - - - - - - - 1,094,061 - - - - - - - - 1,937,634 - - - - - - - - - 693,099 - - - - - - - - 1,490,392 - - - - - - - - - 768,585 - - - - - - - - 630,018 - - - - - - - - 1,536,753 - - - - - - - - - 522,871 - - - - - - - - 1,155,366 - - - - - - - - 51,228 - - - - - - - - - 178,833 - - - - - - - - 1,609,114 - - - - - - - - 1,086,248 - - - - - - - - - 844,713 - - - - - - - - 652,729 - - - - - - - - 2,030,582 - - - - - - - - - - - - - - - - - - - - - - - - - - - 2,764,279$ 3,292,336$ 1,013,355$ 3,814,969$ 2,183,491$ 2,935,356$ 1,729,465$ 2,874,195$ 3,528,024$ City of New Hope, Minnesota Capital Improvement Plan - Street Infrastructure Fund 9203 Schedule of Projected Revenue, Expenditures and Debt 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,872,731$ 1,966,367$ 2,064,686$ 2,167,920$ 2,276,316$ 2,390,132$ 2,509,638$ 2,635,120$ 2,766,876$ 4,431 (82) (4,105) 17,229 18,852 26,949 35,046 61,732 83,030 698,000 698,000 698,000 698,000 698,000 698,000 698,000 698,000 698,000 2,575,162 2,664,286 2,758,581 2,883,149 2,993,168 3,115,080 3,242,684 3,394,852 3,547,906 2,764,279 3,292,336 1,013,355 3,814,969 2,183,491 2,935,356 1,729,465 2,874,195 3,528,024 (189,117) (628,050) 1,745,226 (931,820) 809,677 179,724 1,513,219 520,657 19,882 (200,000) - - - - - - - - 15,841 302,225 388,220 1,094,061 - 630,018 1,155,366 1,609,114 652,729 (78,000) (76,500) - - - - - - - (262,159) 225,725 388,220 1,094,061 - 630,018 1,155,366 1,609,114 652,729 (451,276) (402,325) 2,133,446 162,241 809,677 809,742 2,668,585 2,129,771 672,611 443,105 (8,171) (410,496) 1,722,949 1,885,191 2,694,868 3,504,610 6,173,195 8,302,967 (8,171)$ (410,496)$ 1,722,949$ 1,885,191$ 2,694,868$ 3,504,610$ 6,173,195$ 8,302,967$ 8,975,578$ Capital Project Fund Projected ActivityCapital Project Fund Projected Activity 29 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Parks & Recreation 2023 Parks Emerald Ash Borer 100,000$ 100,000$ -$ Parks & Recreation 2023 Parks Pickleball Improvement at Meadow Lake 135,000 135,000 - Parks & Recreation 2023 Parks concrete, trail work 75,000 75,000 - Parks & Recreation 2023 Parks Liberty Park play equipment project 200,000 200,000 - Parks & Recreation 2023 Parks Lighted Baseball Field 828,000 828,000 - Parks & Recreation 2023 Parks lighting improvements 90,000 90,000 - Parks & Recreation 2023 Parks maintenance (Liberty Park basketball courts)150,000 150,000 - Parks & Recreation 2023 Pool misc equipment 5,000 5,000 - Parks & Recreation 2024 Parks Cgyms pitching machines 5,000 - 5,000 Parks & Recreation 2024 Parks Emerald Ash Borer 100,000 - 100,000 Parks & Recreation 2024 Parks concrete, trail work 60,000 - 60,000 Parks & Recreation 2024 Parks lighting improvements 50,000 - 50,000 Parks & Recreation 2024 Parks maintenance (courts, equipment painting, benches and picnic tables)85,000 - 85,000 Parks & Recreation 2024 Parks outdoor fitness equipment 50,000 - 50,000 Parks & Recreation 2024 Pool misc equipment 5,000 - 5,000 Parks & Recreation 2025 Parks Emerald Ash Borer 50,000 - - Parks & Recreation 2025 Parks concrete, trail work 75,000 - - Parks & Recreation 2025 Parks hockey rink fencing 13,000 - - Parks & Recreation 2025 Parks lighting improvements 215,000 - - Parks & Recreation 2025 Parks maintenance (courts, equipment painting, benches and picnic tables)60,000 - - Parks & Recreation 2025 Parks Victory soccer field improvements 35,000 - - Parks & Recreation 2025 Pool cameras 21,000 - - Parks & Recreation 2025 Pool misc equipment 10,000 - - Parks & Recreation 2026 Parks Emerald Ash Borer 50,000 - - Parks & Recreation 2026 Parks concrete, trail work 75,000 - - Parks & Recreation 2026 Parks lighting improvements 90,000 - - Parks & Recreation 2026 Parks maintenance (courts, equipment painting, benches and picnic tables)35,000 - - Parks & Recreation 2026 Pool misc equipment 10,000 - - Parks & Recreation 2027 Parks cameras 7,000 - - Parks & Recreation 2027 Parks concrete, trail work 75,000 - - Parks & Recreation 2027 Parks Elm Grove Park play equipment project 220,000 - - Parks & Recreation 2027 Parks lighting improvements; retro fit Lighted softball field 255,000 - - Parks & Recreation 2027 Parks maintenance (courts, equipment painting, benches and picnic tables)145,000 - - Parks & Recreation 2027 Pool Cabana canvas 18,500 - - Parks & Recreation 2027 Pool misc equipment 10,000 - - Parks & Recreation 2027 Pool water walk ropes 2,000 - - Parks & Recreation 2028 Parks cameras 20,000 - - Parks & Recreation 2028 Parks concrete, trail work 75,000 - - Parks & Recreation 2028 Parks Hidden Valley Hockey rink 120,000 - - Parks & Recreation 2028 Parks Holiday Park play equipment project 270,000 - - Parks & Recreation 2028 Parks lighting improvements 90,000 - - Parks & Recreation 2028 Parks maintenance (courts, equipment painting, benches and picnic tables)115,000 - - Parks & Recreation 2028 Pool diving boards 13,300 - - Parks & Recreation 2028 Pool loungers/chairs 13,500 - - Parks & Recreation 2028 Pool misc equipment 10,000 - - Parks & Recreation 2029 Parks concrete, trail work 75,000 - - Parks & Recreation 2029 Parks maintenance (courts, equipment painting, benches and picnic tables)145,000 - - Parks & Recreation 2029 Pool filter baskets 7,000 - - Parks & Recreation 2029 Pool filters 48,000 - - Parks & Recreation 2029 Pool misc equipment 10,000 - - Parks & Recreation 2030 Parks concrete, trail work 75,000 - - Parks & Recreation 2030 Parks maintenance (courts, equipment painting, benches and picnic tables)120,000 - - Parks & Recreation 2030 Pool cameras 12,000 - - Parks & Recreation 2030 Pool chemical controllers 18,000 - - Parks & Recreation 2030 Pool chemical feeders 8,000 - - Parks & Recreation 2030 Pool misc equipment 10,000 - - Parks & Recreation 2031 Parks concrete, trail work 75,000 - - Parks & Recreation 2031 Parks lighting improvements 75,000 - - Parks & Recreation 2031 Parks maintenance (courts, equipment painting, benches and picnic tables)90,000 - - Parks & Recreation 2031 Parks Lion's Park playground project 300,000 - - Parks & Recreation 2031 Pool heaters 72,000 - - Parks & Recreation 2031 Pool main drain grates 19,200 - - Parks & Recreation 2031 Pool misc equipment 12,000 - - Parks & Recreation 2031 Pool pump motors (filter)22,000 - - Parks & Recreation 2032 Park cameras 9,000 - - Parks & Recreation 2032 Parks Civic Center Park playground project 300,000 - - Parks & Recreation 2032 Parks concrete, trail work 75,000 - - Parks & Recreation 2032 Parks maintenance 80,000 - - Parks & Recreation 2032 Parks shelter roofs 180,000 - - Parks & Recreation 2032 Parks skate park equipment 50,000 - - Parks & Recreation 2032 Pool slides (paint)50,000 - - Parks & Recreation 2032 Pool replace tile, skim line and lanes lines 30,000 - - Parks & Recreation 2032 Pool pump motors - 50m 30,000 - - Parks & Recreation 2032 Pool misc 12,000 - - Parks & Recreation 2033 Parks concrete, trail work 75,000 - - Parks & Recreation 2033 Parks maintenance 50,000 - - Parks & Recreation 2033 Parks Terra Linda playground project 250,000 - - Parks & Recreation 2033 Pool misc equipment 12,000 - - 1,583,000$ 355,000$ 30 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 50,000 - - - - - - - - 75,000 - - - - - - - - 13,000 - - - - - - - - 215,000 - - - - - - - - 60,000 - - - - - - - - 35,000 - - - - - - 21,000 - - - - - - - - 10,000 - - - - - - - - - 50,000 - - - - - - - - 75,000 - - - - - - - - 90,000 - - - - - - - - 35,000 - - - - - - - - 10,000 - - - - - - - - - 7,000 - - - - - - - - 75,000 - - - - - - - - 220,000 - - - - - - - - 255,000 - - - - - - - - 145,000 - - - - - - - - 18,500 - - - - - - - - 10,000 - - - - - - - - 2,000 - - - - - - - - - 20,000 - - - - - - - - 75,000 - - - - - - - - 120,000 - - - - - - - - 270,000 - - - - - - - - 90,000 - - - - - - - - 115,000 - - - - - - - - 13,300 - - - - - - - - 13,500 - - - - - - - - 10,000 - - - - - - - - - 75,000 - - - - - - - - 145,000 - - - - - - - - 7,000 - - - - - - - - 48,000 - - - - - - - - 10,000 - - - - - - - - - 75,000 - - - - - - - - 120,000 - - - - - - - - 12,000 - - - - - - - - 18,000 - - - - - - - - 8,000 - - - - - - - - 10,000 - - - - - - - - - 75,000 - - - - - - - - 75,000 - - - - - - - - 90,000 - - - - - - - - 300,000 - - - - - - - - 72,000 - - - - - - - - 19,200 - - - - - - - - 12,000 - - - - - - - - 22,000 - - - - - - - - - 9,000 - - - - - - - - 300,000 - - - - - - - - 75,000 - - - - - - - - 80,000 - - - - - - - - 180,000 - - - - - - - - 50,000 - - - - - - - - 50,000 - - - - - - - - 30,000 - - - - - - - - 30,000 - - - - - - - - 12,000 - - - - - - - - - 75,000 - - - - - - - - 50,000 - - - - - - - - 250,000 - - - - - - - - 12,000 479,000$ 260,000$ 732,500$ 726,800$ 285,000$ 243,000$ 665,200$ 816,000$ 387,000$ 31 City of New Hope, Minnesota Capital Improvement Plan - Parks Infrastructure Fund 9233 Schedule of Projected Revenue, Expenditures and Debt 2023 2024 Estimated Estimated Amounts Amounts Revenues Property taxes (5% increase annually)425,185$ 446,444$ Additional property tax levy for Ice 500,000 500,000 Interest on investments 1,500 4,323 Miscellaneous (Leases - cell and radio towers; developer revenue)54,649 56,691 Total Revenues 981,334 1,007,459 Expenditures Capital outlay Parks & Recreation 1,583,000 355,000 Excess (Deficiency) of Revenues Over (Under) Expenditures (601,666) 652,459 Other Financing Sources Transfers out (Golf transfer)- - Transfers out (Ice Arena levy transfer)(500,000) (500,000) Total Other Financing Sources (500,000) (500,000) Net Change in Fund Balances (1,101,666) 152,459 Fund Balances January 1 1,534,003 432,337 Fund Balances, December 31 432,337$ 584,795$ Capital Project Fund Projected Activity 32 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts 468,766$ 492,205$ 516,815$ 542,656$ 569,789$ 598,278$ 628,192$ 659,601$ 692,582$ 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 5,848 6,413 2,431 954 (198) 3,354 7,697 8,190 7,524 60,905 63,157 65,522 68,004 70,611 75,728 78,602 81,619 84,788 1,035,519 1,061,775 1,084,768 1,111,613 1,140,201 1,177,360 1,214,491 1,249,411 1,284,894 479,000 260,000 732,500 726,800 285,000 243,000 665,200 816,000 387,000 556,519 801,775 352,268 384,813 855,201 934,360 549,291 433,411 897,894 - (700,000) - - - - - - - (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (1,200,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) (500,000) 56,519 (398,225) (147,732) (115,187) 355,201 434,360 49,291 (66,589) 397,894 584,795 641,315 243,090 95,357 (19,829) 335,372 769,732 819,023 752,434 641,315$ 243,090$ 95,357$ (19,829)$ 335,372$ 769,732$ 819,023$ 752,434$ 1,150,328$ Capital Project Fund Projected Activity 33 City of New Hope, Minnesota Capital Improvement Plan - Central Garage Fund 9402 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 2025 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Public Works 2023 CG Equipment - Central Garage Master Asset List 1,237,839$ 1,237,839$ -$ -$ Public Works 2024 CG Public Works Remaining Expansion Improvements 6,164,157 121,687 6,164,157 - Public Works 2024 CG Equipment - Central Garage Master Asset List 1,157,992 - 1,157,992 - Public Works 2025 CG Equipment - Central Garage Master Asset List 612,691 - -612,691 Public Works 2026 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2027 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2028 CG Paint inside PW 200,000 - -- Public Works 2028 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2029 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2029 CG Seal Coat and Fog parking lot 100,000 - -- Public Works 2030 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2030 CG Replace roof 200,000 - -- Public Works 2030 CG Replace roof unit 30,000 - -- Public Works 2031 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2031 CG Paint inside PW, New Door, Security Camera Upgrades 300,000 - -- Public Works 2032 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- Public Works 2033 CG Equipment - Central Garage Master Asset List (1)1,002,841 - -- 1,359,526$ 7,322,149$ 612,691$ (1)Equipment replacement for years 2026-2033 calculated using an average of years 2023 through 2025. City of New Hope, Minnesota Capital Improvement Plan - Central Garage Fund 9402 Statement of Cash Flows 2023 2024 2025 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from interfund services provided (5% growth annually)2,051,553$ 2,324,513$ 2,440,739$ Payments to suppliers and employees (5% growth annually)(1,237,084) (1,273,947) (1,337,644) Net Cash Provided (Used) by Operating Activities 814,469 1,050,566 1,103,094 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (1,359,526) (7,322,149) (612,691) Cash Flows from Investing Activities Investment earnings 105,451 101,055 39,350 Net Increase (Decrease) in Cash and Cash Equivalents (439,606) (6,170,528) 529,753 Cash and Cash Equivalents, January 1 10,545,142 10,105,536 3,935,009 Cash and Cash Equivalents, December 31 10,105,536$ 3,935,009$ 4,464,762$ Department Enterprise Fund Projected Activity 34 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - 1,002,841 - - - - - - - - 1,002,841 - - - - - - - - 200,000 - - - - - - - 1,002,841 - - - - - - - - 1,002,841 - - - - - - - 100,000 - - - - - - - - 1,002,841 - - - - - - - 200,000 - - - - - - - 30,000 - - - - - - - - 1,002,841 - - - - - - - 300,000 - - - - - - - - 1,002,841 - - - - - - - - 1,002,841 1,002,841$ 1,002,841$ 1,202,841$ 1,102,841$ 1,232,841$ 1,302,841$ 1,002,841$ 1,002,841$ 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 2,562,776$ 2,690,914$ 2,825,460$ 2,966,733$ 3,115,070$ 3,270,823$ 3,434,364$ 3,606,083$ (1,404,527) (1,474,753) (1,548,491) (1,625,915) (1,707,211) (1,792,571) (1,882,200) (1,976,310) 1,158,249 1,216,161 1,276,970 1,340,818 1,407,859 1,478,252 1,552,164 1,629,773 (1,002,841) (1,002,841) (1,202,841) (1,102,841) (1,232,841) (1,302,841) (1,002,841) (1,002,841) 44,648 46,648 49,248 50,482 53,366 55,650 57,961 64,034 200,056 259,969 123,377 288,459 228,384 231,061 607,284 690,966 4,464,762 4,664,818 4,924,787 5,048,164 5,336,623 5,565,007 5,796,069 6,403,353 4,664,818$ 4,924,787$ 5,048,164$ 5,336,623$ 5,565,007$ 5,796,069$ 6,403,353$ 7,094,319$ Enterprise Fund Projected Activity 35 City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 2025 Year to Estimated Estimated Estimated Department Replace Item Cost Amounts Amounts Amounts Sewer 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 100,000$ 100,000$ -$ -$ Sewer 2023 SS 42nd Avenue Rehab 60,000 60,000 - - Sewer 2023 SS 2023 Line sewer pipes 350,000 350,000 - - Sewer 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 110,700 - 110,700 - Sewer 2024 SS 2024 Line sewer pipes 450,000 - 450,000 - Sewer 2024 SS 2024 Rebuild lift station pipes and pump 150,000 - 150,000 - Sewer 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 166,100 - - 166,100 Sewer 2025 SS 2025 Line sewer pipes 450,000 - - 450,000 Sewer 2026 SI 2026 Infrastructure Improvements - Northwoods South 30,000 - - - Sewer 2026 SS 2026 Line sewer pipes 450,000 - - - Sewer 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 100,000 - - - Sewer 2027 SS 2027 Line sewer pipes 500,000 - - - Sewer 2027 SS 2027 Rebuild lift station pipes and pump 150,000 - - - Sewer 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 100,000 - - - Sewer 2028 SS 2028 Line sewer pipes 550,000 - - - Sewer 2029 SI 2029 Street & Infrastructure Improvements - S of Northwood 100,000 - - - Sewer 2029 SS 2029 Line sewer pipes 600,000 - - - Sewer 2029 SS 2029 Rebuild lift station pipes and pump 150,000 - - - Sewer 2030 SS 2030 Line sewer pipes 600,000 - - - Sewer 2030 SI 2030 Street & Infrastructure Improvements - (28th & 29th)150,000 - - - Sewer 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)150,000 - - - Sewer 2031 SS 2031 Line sewer pipes 600,000 - - - Sewer 2032 SS 2032 Line sewer pipes 600,000 - - - Sewer 2033 SS 2033 Line sewer pipes 600,000 - - - 510,000$ 710,700$ 616,100$ City of New Hope, Minnesota Capital Improvement Plan - Sewer Fund 9300 Statement of Cash Flows 2023 2024 2025 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)4,063,000$ 4,188,000$ 4,355,520$ Payments to suppliers and employees (5% growth assumption)(2,964,774) (3,205,468) (3,365,741) Net Cash Provided (Used) by Operating Activities 1,098,226 982,532 989,779 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (510,000) (710,700) (616,100) Issuance of interfund loan (to Street Lighting Fund)(500,000) - - Interfund loan repayment (from Street Lighting Fund)- 100,000 100,000 Existing principal and interest paid on long-term debt (78,162) (78,546) (77,993) Net Cash Provided (Used) by Capital and Related Financing Activities (1,088,162) (689,246) (594,093) Cash Flows from Investing Activities Investment earnings 20,000 25,915 29,107 Net Increase (Decrease) in Cash and Cash Equivalents 30,064 319,201 424,792 Cash and Cash Equivalents, January 1 2,561,438 2,591,502 2,910,703 Cash and Cash Equivalents, December 31 2,591,502$ 2,910,703$ 3,335,496$ Enterprise Fund Projected Activity 36 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 30,000 - - - - - - - 450,000 - - - - - - - - 100,000 - - - - - - - 500,000 - - - - - - - 150,000 - - - - - - - - 100,000 - - - - - - - 550,000 - - - - - - - - 100,000 - - - - - - - 600,000 - - - - - - - 150,000 - - - - - - - - 600,000 - - - - - - - 150,000 - - - - - - - - 150,000 - - - - - - - 600,000 - - - - - - - - 600,000 - - - - - - - - 600,000 480,000$ 750,000$ 650,000$ 850,000$ 750,000$ 750,000$ 600,000$ 600,000$ 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 4,529,741$ 4,710,930$ 4,899,368$ 5,095,342$ 5,299,156$ 5,511,122$ 5,731,567$ 5,960,830$ (3,534,028) (3,710,730) (3,896,266) (4,091,080) (4,295,634) (4,510,415) (4,735,936) (4,972,733) 995,712 1,000,201 1,003,101 1,004,263 1,003,522 1,000,707 995,631 988,097 (480,000) (750,000) (650,000) (850,000) (750,000) (750,000) (600,000) (600,000) - - - - - - - - 100,000 100,000 100,000 - - - - - (78,055) (77,979) (78,053) (77,735) (77,720) (77,652) (61,498) (19,150) (458,055) (727,979) (628,053) (927,735) (827,720) (827,652) (661,498) (619,150) 33,355 39,065 42,178 46,350 47,579 49,813 52,041 55,903 571,012 311,287 417,226 122,878 223,381 222,867 386,174 424,850 3,335,496 3,906,508 4,217,795 4,635,021 4,757,898 4,981,280 5,204,147 5,590,321 3,906,508$ 4,217,795$ 4,635,021$ 4,757,898$ 4,981,280$ 5,204,147$ 5,590,321$ 6,015,171$ Enterprise Fund Projected Activity 37 City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Water 2023 WA Sensus Water Meters - 2023 15,587$ 15,587$ -$ Water 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 2,436,621 2,436,621 - Water 2023 WA 42nd to Xylon (Rehab)1,173,400 1,173,400 - Water 2024 WA Sensus Water Meters - 2024 16,055 - 16,055 Water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 208,034 - 208,034 Water 2024 SI Joint project with the City of Crystal - 31st Avenue 110,966 - 110,966 Water 2025 WA Sensus Water Meters - 2025 16,536 - - Water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 120,000 - - Water 2025 WA Water meter replacement to AMI 3,000,000 - - Water 2026 SI 2026 Infrastructure Improvements - Northwoods South 50,000 - - Water 2026 WA JWC - Repaint South Water Tower 2,500,000 - - Water 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 65,000 - - Water 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 70,000 - - Water 2028 WA Infrastructure - Gettysburg 60th to 62nd 916,000 - - Water 2029 SI 2029 Local Projects (Crack, Seal Coat & Fog Seal) - S of Northwood 70,000 - - Water 2030 SI 2030 Street & Infrastructure Improvements (28th & 29th)70,000 - - Water 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)2,282,198 - - Water 2032 SI 2032 Street & Infrastructure Improvements 70,000 - - Water 2033 SI 2033 Street & Infrastructure Improvements - Good Samaritan Society and Terra Linda Park Areas 75,000 - - 3,625,608$ 335,055$ City of New Hope, Minnesota Capital Improvement Plan - Water Fund 9301 Statement of Cash Flows 2023 2024 Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (5% growth assumption)6,129,941$ 6,134,000$ Payments to suppliers and employees (5% growth assumption)(4,674,607) (4,981,925) Net Cash Provided (Used) by Operating Activities 1,455,334 1,152,075 Cash Flows From Capital and Related Financing Activities Acquisition of capital assets (3,625,608) (335,055) Intergovernmental (Joint Water Commission)- - Existing principal and interest paid on long-term debt (314,905) (316,125) Net Cash Used by Capital and Related Financing Activities (3,940,513) (651,180) Cash Flows from Investing Activities Investment earnings 50,000 14,741 Net Increase (Decrease) in Cash and Cash Equivalents (2,435,179) 515,636 Cash and Cash Equivalents, January 1 3,909,250 1,474,071 Cash and Cash Equivalents, December 31 1,474,071$ 1,989,707$ Enterprise Fund Projected Activity 38 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 16,536 - - - - - - - - 120,000 - - - - - - - - 3,000,000 - - - - - - - - - 50,000 - - - - - - - - 2,500,000 - - - - - - - - - 65,000 - - - - - - - - - 70,000 - - - - - - - - 916,000 - - - - - - - - - 70,000 - - - - - - - - - 70,000 - - - - - - - - - 2,282,198 - - - - - - - - - 70,000 - - - - - - - - - 75,000 3,136,536$ 2,550,000$ 65,000$ 986,000$ 70,000$ 70,000$ 2,282,198$ 70,000$ 75,000$ 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 6,440,700$ 6,762,735$ 7,100,872$ 7,455,915$ 7,828,711$ 8,220,147$ 8,631,154$ 9,062,712$ 9,515,847$ (5,231,021) (5,492,572) (5,767,201) (6,055,561) (6,358,339) (6,676,256) (7,010,069) (7,360,572) (7,728,601) 1,209,679 1,270,163 1,333,671 1,400,354 1,470,372 1,543,891 1,621,085 1,702,139 1,787,246 (3,136,536) (2,550,000) (65,000) (986,000) (70,000) (70,000) (2,282,198) (70,000) (75,000) - 2,500,000 - - - - - - - (313,409) (314,344) (313,947) (314,812) (313,673) (286,533) (287,839) (190,903) (88,559) (3,449,945) (364,344) (378,947) (1,300,812) (383,673) (356,533) (2,570,037) (260,903) (163,559) 19,897 (2,307) 6,728 16,343 17,502 28,544 40,703 31,620 46,349 (2,220,369) 903,512 961,452 115,885 1,104,201 1,215,902 (908,249) 1,472,857 1,670,036 1,989,707 (230,662) 672,850 1,634,302 1,750,187 2,854,388 4,070,290 3,162,041 4,634,898 (230,662)$ 672,850$ 1,634,302$ 1,750,187$ 2,854,388$ 4,070,290$ 3,162,041$ 4,634,898$ 6,304,934$ Enterprise Fund Projected Activity 39 City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Department Replace Item Cost Amounts Amounts Storm water 2023 SW 42nd Avenue Rehab (Henn Co)40,000$ 40,000$ -$ Storm water 2023 SI 2023 Street & Infrastructure Improvements - Northwoods East 80,000 80,000 - Storm water 2023 SW Required TMDL projects 100,000 100,000 - Storm water 2024 SI 2024 Street & Infrastructure Improvements - Jaycee Park and Other Streets 75,000 - 75,000 Storm water 2024 SW Required TMDL projects 100,000 - 100,000 Storm water 2024 SI Joint project with the City of Crystal - Louisiana (MSA)249,287 - 249,287 Storm water 2024 SI Joint project with the City of Crystal - 31st Avenue 62,528 - 62,528 Storm water 2025 SI 2025 Street & Infrastructure Improvements - St. Raphael & Northwood NE 172,000 - - Storm water 2025 SW Required TMDL projects 100,000 - - Storm water 2026 SI 2026 Infrastructure Improvements - Northwoods South 40,000 - - Storm water 2026 SW Required TMDL projects 100,000 - - Storm water 2027 SW Required TMDL projects 100,000 - - Storm water 2027 SI 2027 Street & Infrastructure Improvements - N of Bass Lake Rd 200,000 - - Storm water 2028 SW Required TMDL projects 100,000 - - Storm water 2028 SI 2028 Street & Infrastructure Improvements - Meadow Lake North 200,000 - - Storm water 2029 SW Required TMDL projects 100,000 - - Storm water 2029 SI 2029 Street & Infrastructure Improvements - S of Northwood 80,000 - - Storm water 2030 SW Required TMDL projects 100,000 - - Storm water 2030 SI 2030 Street & Infrastructure Improvements (28th & 29th)200,000 - - Storm water 2031 SI 2031 Street & Infrastructure Improvements - Quebec (Winnetka to 49th)400,000 - - Storm water 2031 SW Required TMDL projects 100,000 - - Storm water 2032 SW Required TMDL projects 100,000 - - Storm water 2033 SI 2033 Street & Infrastructure Improvements - Good Samaritan Society and Terra Linda Park Areas 100,000 - - 220,000$ 486,815$ City of New Hope, Minnesota Capital Improvement Plan - Storm Water Fund 9304 Statement of Cash Flows 2023 2024 Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (4% growth assumption)1,375,000$ 1,434,000$ Payments to suppliers and employees (5% growth assumption)(824,503) (881,110) Net Cash Provided (Used) by Operating Activities 550,497 552,890 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (220,000) (486,815) Intergovernmental revenue (Municipal State Aid - MSA)- 249,287 Existing principal and interest paid on long-term debt (198,210) (131,989) Net Cash Used by Capital and Related Financing Activities (418,210) (369,517) Cash Flows From Investing Activities Investment earnings 16,442 17,929 Net Increase (Decrease) in Cash and Cash Equivalents 148,729 201,302 Cash and Cash Equivalents, January 1 1,644,184 1,792,913 Cash and Cash Equivalents, December 31 1,792,913$ 1,994,215$ Enterprise Fund Projected Activity 40 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 172,000 - - - - - - - - 100,000 - - - - - - - - - 40,000 - - - - - - - - 100,000 - - - - - - - - - 100,000 - - - - - - - - 200,000 - - - - - - - - - 100,000 - - - - - - - - 200,000 - - - - - - - - - 100,000 - - - - - - - - 80,000 - - - - - - - - - 100,000 - - - - - - - - 200,000 - - - - - - - - - 400,000 - - - - - - - - 100,000 - - - - - - - - - 100,000 - - - - - - - - - 100,000 272,000$ 140,000$ 300,000$ 300,000$ 180,000$ 300,000$ 500,000$ 100,000$ 100,000$ 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,491,360$ 1,551,014$ 1,613,055$ 1,677,577$ 1,744,680$ 1,814,467$ 1,887,046$ 1,962,528$ 2,041,029$ (925,166) (971,424) (1,019,995) (1,070,995) (1,124,544) (1,180,772) (1,239,810) (1,301,801) (1,366,891) 566,195 579,591 593,060 606,582 620,136 633,696 647,236 660,727 674,138 (272,000) (140,000) (300,000) (300,000) (180,000) (300,000) (500,000) (100,000) (100,000) - - - - - - - - - (132,568) (131,509) (131,588) (131,479) (131,666) (131,196) (130,969) (131,343) (102,907) (404,568) (271,509) (431,588) (431,479) (311,666) (431,196) (630,969) (231,343) (202,907) 19,942 21,758 25,056 26,922 28,942 32,316 34,664 35,173 39,819 181,569 329,839 186,528 202,025 337,412 234,816 50,931 464,558 511,050 1,994,215 2,175,784 2,505,623 2,692,151 2,894,176 3,231,588 3,466,404 3,517,335 3,981,892 2,175,784$ 2,505,623$ 2,692,151$ 2,894,176$ 3,231,588$ 3,466,404$ 3,517,335$ 3,981,892$ 4,492,942$ Enterprise Fund Projected Activity 41 City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Department Replace Item Cost Amounts Amounts 2023 SI 42nd Ave & Boone (Multiple Project: Monument Sign and Lighting)500,000$ 500,000$ -$ 500,000$ -$ City of New Hope, Minnesota Capital Improvement Plan - Street Light Fund 9305 Statement of Cash Flows 2023 2024 Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (5% growth assumption)180,000$ 185,000$ Payments to suppliers and employees (5% growth assumption)(125,706) (137,206) Net Cash Provided (Used) by Operating Activities 54,294 47,794 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (500,000) - Proceeds from bonds and notes issued or interfund loan (from Sewer Fund)500,000 - Interfund loan payments (to Sewer Fund)- (100,000) Net Cash Used By Capital and Related Financing Activities - (100,000) Cash Flows From Investing Activities Investment Earnings 1,626 2,185 Net Increase (Decrease) in Cash and Cash Equivalents 55,920 (50,021) Cash and Cash Equivalents, January 1 162,625 218,545 Cash and Cash Equivalents, December 31 218,545$ 168,525$ Enterprise Fund Projected Activity 42 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 194,250$ 203,963$ 214,161$ 224,869$ 236,112$ 247,918$ 260,314$ 273,329$ 286,996$ (144,066) (151,270) (158,833) (166,775) (175,113) (183,869) (193,063) (202,716) (212,852) 50,184 52,693 55,328 58,094 60,999 64,049 67,251 70,614 74,144 - - - - - - - - - - - - - - - - - - (100,000) (100,000) (100,000) (100,000) - - - - - (100,000) (100,000) (100,000) (100,000) - - - - - 1,685 1,204 743 304 (112) 496 1,142 1,826 2,550 (48,131) (46,103) (43,930) (41,602) 60,886 64,545 68,393 72,439 76,694 168,525 120,394 74,290 30,361 (11,242) 49,645 114,190 182,582 255,022 120,394$ 74,290$ 30,361$ (11,242)$ 49,645$ 114,190$ 182,582$ 255,022$ 331,716$ Enterprise Fund Projected Activity 43 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Schedule of Planned Capital Outlay 2023 to 2033 2023 2024 Year to Estimated Estimated Replace Item Cost Amounts Amounts Ice Arena 2023 IA compressors 26,500$ 26,500$ -$ Ice Arena 2023 IA concession stand 36,000 36,000 - Ice Arena 2023 IA meeting room carpet 9,600 9,600 - Ice Arena 2023 IA re-cement floor and replace glass and boards (south rink) 647,600 647,600 - Ice Arena 2023 IA skate tile 18,000 18,000 - Ice Arena 2023 IA water heaters 48,000 48,000 - Ice Arena 2024 IA drinking fountain (south rink)18,000 - 18,000 Ice Arena 2024 IA gutters 20,000 - 20,000 Ice Arena 2024 IA HVAC (south rink)50,000 - 50,000 Ice Arena 2024 IA Zamboni room garage doors 20,000 - 20,000 Ice Arena 2025 IA brine replacement 125,000 - - Ice Arena 2025 IA generator switch 40,000 - - Ice Arena 2025 IA misc equipment 10,000 - - Ice Arena 2025 IA south floor paint 50,000 - - Ice Arena 2025 IA system relief valves 10,000 - - Ice Arena 2026 IA bleacher caps (south rink)35,000 - - Ice Arena 2026 IA community room tile 22,000 - - Ice Arena 2026 IA compressors 30,000 - - Ice Arena 2026 IA HVAC 75,000 - - Ice Arena 2026 IA misc equipment 10,000 - - Ice Arena 2026 IA parking lot 825,000 - - Ice Arena 2026 IA showers 20,000 - - Ice Arena 2027 IA bathrooms (lower level public)30,000 - - Ice Arena 2027 IA bleacher caps (north rink) 50,000 - - Ice Arena 2027 IA misc equipment 10,000 - - Ice Arena 2027 IA overhead doors 25,000 - - Ice Arena 2027 IA radiant heaters (south rink)30,000 - - Ice Arena 2027 skate tile (north rink)60,000 - - Ice Arena 2027 IA water heater for showers 15,000 - - Ice Arena 2028 IA bathrroms 50,000 - - Ice Arena 2028 IA cameras 26,000 - - Ice Arena 2028 IA doors 50,000 - - Ice Arena 2028 IA misc equipment 10,000 - - Ice Arena 2028 IA protective netting 15,000 - - Ice Arena 2029 IA compressors 33,000 - - Ice Arena 2029 IA misc equipment 10,000 - - Ice Arena 2029 IA radiant heaters (north rink)40,000 - - Ice Arena 2029 IA skate tile 30,000 - - Ice Arena 2030 IA HVAC 30,000 - - Ice Arena 2030 IA misc equipment 10,000 - - Ice Arena 2030 IA system relief valves 13,000 - - Ice Arena 2031 IA misc equipment 12,000 - - Ice Arena 2031 IA water heaters 30,000 - - Ice Arena 2032 IA compressors 35,000 - - Ice Arena 2032 IA misc equipment 12,000 - - Ice Arena 2032 IA skate tile 25,000 - - Ice Arena 2033 IA cameras 32,000 - - Ice Arena 2033 IA misc equipment 12,000 - - Ice Arena 2033 IA water treatment unit 10,000 - - 785,700$ 108,000$ Department 44 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 125,000 - - - - - - - - 40,000 - - - - - - - - 10,000 - - - - - - - - 50,000 - - - - - - - - 10,000 - - - - - - - - - 35,000 - - - - - - - - 22,000 - - - - - - - - 30,000 - - - - - - - - 75,000 - - - - - - - - 10,000 - - - - - - - - 825,000 - - - - - - - - 20,000 - - - - - - - - - 30,000 - - - - - - - - 50,000 - - - - - - - - 10,000 - - - - - - - - 25,000 - - - - - - - - 30,000 - - - - - - - - 60,000 - - - - - - - - 15,000 - - - - - - - - - 50,000 - - - - - - - - 26,000 - - - - - - - - 50,000 - - - - - - - - 10,000 - - - - - - - - 15,000 - - - - - - - - - 33,000 - - - - - - - - 10,000 - - - - - - - - 40,000 - - - - - - - - 30,000 - - - - - - - - - 30,000 - - - - - - - - 10,000 - - - - - - - - 13,000 - - - - - - - - - 12,000 - - - - - - - - 30,000 - - - - - - - - - 35,000 - - - - - - - - 12,000 - - - - - - - - 25,000 - - - - - - - - - 32,000 - - - - - - - - 12,000 - - - - - - - - 10,000 235,000$ 1,017,000$ 220,000$ 151,000$ 113,000$ 53,000$ 42,000$ 72,000$ 54,000$ 45 City of New Hope, Minnesota Capital Improvement Plan - Ice Arena Fund 9303 Statement of Cash Flows 2023 2024 Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (enterprise assumption of 2.5% growth)939,355$ 987,070$ Payments to suppliers and employees (enterprise modified assumption of 2.5% growth)(920,083) (947,828) Net Cash Provided (Used) by Operating Activities 19,272 39,242 Cash Flows from Noncapital Financing Activities Transfers in (levy, Park Infrastructure Fund)500,000 500,000 Transfers out (administrative charges)(11,597) (11,887) Net Cash Provided (Used) by Noncapital Financing Activities 488,403 488,113 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (785,700) (108,000) Proceeds from bonds and notes issued or interfund loan 1,073,601 - Existing Principal and interest paid on long-term debt (275,550) (282,950) Interfund loan payments (from Temporary Financing Fund for 2021-2023 improvements and 2026 parking lot)(43,333) (114,907) Net Cash Used by Capital and Related Financing Activities (30,982) (505,857) Cash Flows from Investing Activities Investment earnings - 4,672 Net Increase (Decrease) in Cash and Cash Equivalents 476,693 26,170 Cash and Cash Equivalents, January 1 (9,513) 467,180 Cash and Cash Equivalents, December 31 467,180$ 493,350$ Enterprise Fund Projected Activity 46 Enterprise Fund Projected Activity 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,011,747$ 1,037,040$ 1,062,966$ 1,089,541$ 1,116,779$ 1,144,699$ 1,173,316$ 1,202,649$ 1,232,715$ (971,524) (995,812) (1,020,707) (1,046,225) (1,072,380) (1,099,190) (1,126,670) (1,154,836) (1,183,707) 40,223 41,229 42,259 43,316 44,399 45,509 46,646 47,813 49,008 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 (12,184) (12,489) (12,801) (13,121) (13,449) (13,785) (14,130) (14,483) (14,845) 487,816 487,511 487,199 486,879 486,551 486,215 485,870 485,517 485,155 (235,000) (1,017,000) (220,000) (151,000) (113,000) (53,000) (42,000) (72,000) (54,000) - 825,000 - - - - - - - (295,250) (302,400) (314,450) (136,350) - - - - - (114,907) (114,907) (169,907) (169,907) (169,907) (169,907) (169,907) (169,907) (169,907) (645,157) (609,307) (704,357) (457,257) (282,907) (222,907) (211,907) (241,907) (223,907) 4,933 3,812 3,044 1,326 2,068 4,569 7,703 10,986 14,010 (112,184) (76,755) (171,854) 74,264 250,111 313,386 328,313 302,409 324,266 493,350 381,166 304,410 132,556 206,820 456,931 770,317 1,098,630 1,401,039 381,166$ 304,410$ 132,556$ 206,820$ 456,931$ 770,317$ 1,098,630$ 1,401,039$ 1,725,306$ 47 2023 2024 Year to Estimated Estimated Replace Item Cost Amounts Amounts Parks & Recreation 2023 GC fireplace 24,000$ 24,000$ -$ Parks & Recreation 2023 GC golf carts (5 of 5)8,000 8,000 - Parks & Recreation 2023 GC maintenance garage updates (doors and heaters)30,000 30,000 - Parks & Recreation 2023 GC maintenance shop-paint 12,000 12,000 - Parks & Recreation 2023 GC misc equipment 6,000 6,000 - Parks & Recreation 2024 GC cart paths paved 20,000 - 20,000 Parks & Recreation 2024 GC clubhouse update 20,000 - 20,000 Parks & Recreation 2024 GC golf cart lease (1 of 5)10,000 - 10,000 Parks & Recreation 2024 GC misc equipment 10,000 - 10,000 Parks & Recreation 2025 GC clubhouse carpet 15,000 - - Parks & Recreation 2025 GC fire system 36,000 - - Parks & Recreation 2025 GC gas grills 7,500 - - Parks & Recreation 2025 GC golf cart lease (2 of 5)10,000 - - Parks & Recreation 2025 GC misc equipment 10,000 - - Parks & Recreation 2025 GC cart paths paved 25,000 - - Parks & Recreation 2026 GC cart paths paved 30,000 - - Parks & Recreation 2026 GC clubhouse exterior 15,000 - - Parks & Recreation 2026 GC cold storage 100,000 - - Parks & Recreation 2026 GC fencing 25,000 - - Parks & Recreation 2026 GC golf cart lease (3 of 5)10,000 - - Parks & Recreation 2026 GC irrigation 700,000 - - Parks & Recreation 2026 GC misc equipment 10,000 - - Parks & Recreation 2027 GC fencing 30,000 - - Parks & Recreation 2027 GC golf cart lease (4 of 5)10,000 - - Parks & Recreation 2027 GC irrigation pump and motor 25,000 - - Parks & Recreation 2027 GC misc equipment 10,000 - - Parks & Recreation 2027 GC roof 30,000 - - Parks & Recreation 2027 GC VFD Irrigation 10,000 - - Parks & Recreation 2028 GC cameras 12,000 - - Parks & Recreation 2028 GC fencing 30,000 - - Parks & Recreation 2028 GC golf cart lease (5 of 5)10,000 - - Parks & Recreation 2028 GC misc equipment 10,000 - - Parks & Recreation 2029 GC restroom upgrades 30,000 - - Parks & Recreation 2029 GC golf cart lease (1 of 5)12,000 - - Parks & Recreation 2029 GC misc equipment 10,000 - - Parks & Recreation 2030 GC Fencing 30,000 - - Parks & Recreation 2030 GC golf cart lease (2 of 5)12,000 - - Parks & Recreation 2030 GC misc equipment 10,000 - - Parks & Recreation 2031 GC clubhouse tables and chairs 20,000 - - Parks & Recreation 2031 GC golf cart lease (3 of 5)12,000 - - Parks & Recreation 2031 GC misc equipment 12,000 - - Parks & Recreation 2032 GC clubhouse carpet 17,000 - - Parks & Recreation 2032 GC golf cart lease (4 of 5)12,000 - - Parks & Recreation 2032 GC misc equipment 12,000 - - Parks & Recreation 2033 GC cameras 15,000 - - Parks & Recreation 2033 GC golf cart lease (5 of 5)12,000 - - Parks & Recreation 2033 GC misc equipment 12,000 - - 80,000$ 60,000$ Department City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Schedule of Planned Capital Outlay 2023 to 2033 48 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 15,000 - - - - - - - - 36,000 - - - - - - - - 7,500 - - - - - - - - 10,000 - - - - - - - - 10,000 - - - - - - - - 25,000 - - - - - - - - - 30,000 - - - - - - - - 15,000 - - - - - - - - 100,000 - - - - - - - - 25,000 - - - - - - - - 10,000 - - - - - - - - 700,000 - - - - - - - - 10,000 - - - - - - - - - 30,000 - - - - - - - - 10,000 - - - - - - - - 25,000 - - - - - - - - 10,000 - - - - - - - - 30,000 - - - - - - - - 10,000 - - - - - - - - - 12,000 - - - - - - - - 30,000 - - - - - - - - 10,000 - - - - - - - - 10,000 - - - - - - - - - 30,000 - - - - - - - - 12,000 - - - - - - - - 10,000 - - - - - - - - - 30,000 - - - - - - - - 12,000 - - - - - - - - 10,000 - - - - - - - - - 20,000 - - - - - - - - 12,000 - - - - - - - - 12,000 - - - - - - - - - 17,000 - - - - - - - - 12,000 - - - - - - - - 12,000 - - - - - - - - - 15,000 - - - - - - - - 12,000 - - - - - - - - 12,000 103,500$ 890,000$ 115,000$ 62,000$ 52,000$ 52,000$ 44,000$ 41,000$ 39,000$ 49 City of New Hope, Minnesota Capital Improvement Plan - Golf Course Fund 9302 Statement of Cash Flows 2023 2024 Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (modified enterprise assumption of 5% growth)441,700$ 453,500$ Payments to suppliers and employees (modified enterprise assumption of 3% growth)(431,600) (451,603) Net Cash Provided (Used) by Operating Activities 10,100 1,897 Cash Flows from Noncapital Financing Activities Transfers out (administrative charges)(11,597) (11,887) Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (80,000) (60,000) Proceeds from interfund loan (from the Temporary Financing Fund)- - Transfer in from Park Infrastructure fund for the irrigation project - - Interfund loan payments (from the Temporary Financing Fund for cold storage)- - Net Cash Used by Capital and Related Financing Activities (80,000) (60,000) Cash Flows from Investing Activities Investment earnings 5,000 3,427 Net Increase (Decrease) in Cash and Cash Equivalents (76,497) (66,563) Cash and Cash Equivalents, January 1 419,237 342,740 Cash and Cash Equivalents, December 31 342,740$ 276,177$ Enterprise Fund Projected Activity 50 Enterprise Fund Projected Activity 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 476,175$ 499,984$ 524,983$ 551,232$ 578,794$ 607,733$ 638,120$ 670,026$ 703,527$ (465,151) (479,106) (493,479) (508,283) (523,532) (539,238) (555,415) (572,077) (589,239) 11,024 20,878 31,504 42,949 55,262 68,496 82,705 97,949 114,288 (12,184) (12,489) (12,801) (13,121) (13,449) (13,785) (14,130) (14,483) (14,845) (103,500) (890,000) (115,000) (62,000) (52,000) (52,000) (44,000) (41,000) (39,000) - 100,000 - - - - - - - - 700,000 - - - - - - - - - (6,667) (6,667) (6,667) (6,667) (6,667) (6,667) (6,667) (103,500) (90,000) (121,667) (68,667) (58,667) (58,667) (50,667) (47,667) (45,667) 2,762 1,743 944 (76) (465) (638) (684) (512) (159) (101,898) (79,868) (102,019) (38,915) (17,319) (4,594) 17,224 35,287 53,617 276,177 174,279 94,411 (7,608) (46,523) (63,842) (68,436) (51,212) (15,925) 174,279$ 94,411$ (7,608)$ (46,523)$ (63,842)$ (68,436)$ (51,212)$ (15,925)$ 37,692$ 51 2023 2024 2025 Year to Estimated Estimated Estimated Replace Item Cost Amounts Amounts Amounts Information Technology 2023 IT BS&A planning and data conversion fees 114,160$ 114,160$ -$ -$ Information Technology 2024 IT RMS CAD 200,000 - 200,000 - Information Technology 2024 IT Website 30,000 - 30,000 - Information Technology 2024 IT Cisco 9951 phone-PD receptionist 1,203 - 1,203 - Information Technology 2024 IT Cisco VG 310 modular VoIP gateway 3,712 - 3,712 - Information Technology 2024 IT Robbinsdale School District fiber potential replacement 125,000 - 125,000 - Information Technology 2025 IT BS&A on-site implementation and training 140,535 - -140,535 Information Technology 2025 IT City Hall firewalls 10,116 - -10,116 Information Technology 2025 IT City Hall switches 43,301 - -43,301 Information Technology 2025 IT City Hall wireless LAN conroller 7,935 - -7,935 Information Technology 2025 IT Wireless access point 16,831 - -16,831 Information Technology 2025 IT Reader Board (Ice Arena)55,000 - -55,000 Information Technology 2025 IT Reader Board (Golf)60,000 - -60,000 Information Technology 2025 IT Aquatic Center Catalyst 9200 24 Port PoE 3,848 - -3,848 Information Technology 2025 IT Cisco analog voice gateway 1,968 - -1,968 Information Technology 2025 IT Headsets 315 - -315 Information Technology 2025 IT Public Works Cisco Catalyst 9200L 48 port PoE 5,714 - -5,714 Information Technology 2025 IT Wireless access point 6,312 - -6,312 Information Technology 2026 IT City Hall Catalyst 9300 48-Port PoE 6,408 - -- Information Technology 2027 IT Cisco VG 310 modular VoIP gateway 3,712 - -- Information Technology 2027 IT Phones-Cisco and stainless steel surface mount 2,703 - -- Information Technology 2028 IT Cisco phones upgrade 25,306 - -- Information Technology 2029 IT Aquatic Center Catalyst 9200 24 Port PoE 3,848 - -- Information Technology 2029 IT City Hall firewalls 10,116 - -- Information Technology 2029 IT City Hall switches 43,301 - -- Information Technology 2029 IT City Hall wireless LAN conroller 7,935 - -- Information Technology 2029 IT Wireless access point 16,831 - -- Information Technology 2030 IT Cisco VG 310 modular VoIP gateway 3,712 - -- Information Technology 2030 IT Headsets 315 - -- Information Technology 2030 IT Public Works Cisco Catalyst 9200L 48 port PoE 5,714 - -- Information Technology 2030 IT Wireless access point 6,312 - -- Information Technology 2031 IT City Hall Catalyst 9300 48-Port PoE 6,408 - -- Information Technology 2031 IT Server room UPS 50,000 - -- 114,160$ 359,915$ 351,875$ City of New Hope, Minnesota Capital Improvement Plan - Information Technology 9410 Statement of Cash Flows 2023 2024 2025 Estimated Estimated Estimated Cash Flows from Operating Activities Receipts from customers and users (modified enterprise assumption of 5% growth)1,092,730$ 1,151,096$ 1,463,346$ Payments to suppliers and employees (modified enterprise assumption of 3% growth)(1,078,611) (1,129,296) (1,163,175) Net Cash Provided (Used) by Operating Activities 14,119 21,800 300,171 Cash Flows from Capital and Related Financing Activities Acquisition of capital assets (114,160) (359,915) (351,875) Cash Flows from Investing Activities Investment earnings 8,211 9,576 6,291 Net Increase (Decrease) in Cash and Cash Equivalents 136,490 (328,539) (45,414) Cash and Cash Equivalents, January 1 821,106 957,596 629,057 Cash and Cash Equivalents, December 31 957,596$ 629,057$ 583,644$ City of New Hope, Minnesota Capital Improvement Plan - Information Technology 9410 Schedule of Planned Capital Outlay 2023 to 2033 Department Enterprise Fund Projected Activity 52 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated Amounts Amounts Amounts Amounts Amounts Amounts Amounts Amounts -$ -$ -$ -$ -$ -$ -$ -$ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 6,408 - - - - - - - - 3,712 - - - - - - - 2,703 - - - - - - - - 25,306 - - - - - - - - 3,848 - - - - - - - 10,116 - - - - - - - 43,301 - - - - - - - 7,935 - - - - - - - 16,831 - - - - - - - - 3,712 - - - - - - - 315 - - - - - - - 5,714 - - - - - - - 6,312 - - - - - - - - 6,408 - - - - - - - 50,000 - - 6,408$ 6,415$ 25,306$ 82,031$ 16,053$ 56,408$ -$ -$ 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Estimated Estimated Estimated Estimated Estimated Estimated Estimated 1,269,084$ 1,332,538$ 1,399,165$ 1,469,123$ 1,542,579$ 1,619,708$ 1,700,693$ 1,785,728$ (1,198,070) (1,234,012) (1,271,033) (1,309,164) (1,348,438) (1,388,892) (1,430,558) (1,473,475) 71,013 98,525 128,132 159,959 194,141 230,816 270,135 312,253 (6,408) (6,415) (25,306) (82,031) (16,053) (56,408) - - 5,836 6,541 7,527 8,631 9,496 11,372 13,230 16,064 70,442 98,651 110,353 86,559 187,584 185,781 283,365 328,317 583,644 654,085 752,737 863,090 949,649 1,137,233 1,323,014 1,606,379 654,085$ 752,737$ 863,090$ 949,649$ 1,137,233$ 1,323,014$ 1,606,379$ 1,934,696$ Enterprise Fund Projected Activity 53 Tax Rates Tax Rates: General Fund Operations and All Funds Cash Balances General Fund Balance as a Percent of Revenue:Cash Balance by Planned Use: Tax rates are a function of the levy and total tax base. The city tax rate is computed by dividing the city levy by the taxable tax capacity. Future tax rates are based on the assumption of 3.5% growth in tax capacity (see Assumptions). Comparable communities are provided for reference. The General fund fund balance should be maintained at a level to provide for adequate working capital reserves. The MN State Auditor recommends a 35-50% reserve. As the expenditure budget grows, the required reserve should increase accordingly. The City can build to this target by adding to contingency each year. This can be accomplished by reducing expenditures and maintaining the same level of revenue or increasing tax levy. The balances represented in this graph are categorized by the planned use and/or limitations determined by statute. $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 Unassigned Fund Balance Budget Target Fund Balance (42%) General Fund Balance as a Percent of Expenditures 2022 (Actual) 2023-2033 (Estimated) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% City Tax Capacity Rates 2022 (Actual) and 2023-2033 (Estimated) General Proposed capital levies Scheduled debt levies $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 $80,000,000 Cash Balance by Planned Use 2022 (Actual) and 2023-2033 (Estimated) General fund Debt service Capital projects Special revenue Enterprise Internal service Agency (pass-through grant) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 2017 2018 2019 2020 2021 2022 2023 Tax Capacity Tax Rate -Comparison Cities 2017 -2023 (Actual) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 54 Property Taxes by Type Debt Debt Balances No additional debt issuance has been modeled in this plan.New Hope debt per capita is in the middle range to comparable cities ratios. This graph highlights the percent of levy by planned use. Increases in the levy are primarily attributed to the growth in scheduled and proposed debt levies as well as growth in the City's General levy. The overall city tax burden for a median home value (actual for 2023 and 2024 and projected for 2025 through 2033) is shown in the graph on the right. The overall property tax levy for an average valued house is highlighted above. Percent of Property Taxes - General Levy and Bonds Projected City Tax Impact $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 Property Taxes -General Levy, EDA, Debt Service and Capital 2022 (Actual) and 2023-2033 (Estimated) General Street Infrastructure Economic Development Authority Park Infrastructure Scheduled debt levies Capital levies $- $500 $1,000 $1,500 $2,000 $2,500 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Projected City Tax Impact 2022 (Actual) 2023-2033 (Estimated) $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 202220232024202520262027202820292030203120322033 Projected Debt Balances Based on Current Amortizations and New Debt Assumed in CIP 2022 (Actual) and 2023-2033 (Estimated) G.O. Tax Increment Debt (Gov't)Other Long-term Debt G.O. Revenue Debt G.O. Tax Increment Debt (Bus) Lease Revenue Bonds G.O. Tax Abatement Debt (Gov't) G.O. Improvement (Gov't)G.O. Improvement (Bus) 0 500 1000 1500 2000 2500 3000 3500 4000 4500 5000 20 1 4 20 1 5 20 1 6 20 1 7 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 Debt Per Capita -Comparison Cities 2014-2022 (Actual) 2023-2033 (Estimated) Crystal Golden Valley Champlin Hopkins Brooklyn Center New Hope 55