Robertson to Council/Airport TIF RecapW'
MONTANA
Date: July 20, 2009
To: Mayor Kennedy and Council Members
From: Amy Robertson
Finance Director ff_
Myrt Webb�id
Interim City Manager
City of Kalispell
Post Office Box 1997 - Kalispell, Montana 59903-1997
Telephone (406) 758-7000 Fax - (406) 758-7758
RE: Councilman Kluesner's request for Airport TIF recap
This spreadsheet was prepared awhile ago and now it is updated through June 2009.
Revenue from land sale in 1998 includes both Rosauers and Daley fields. This enabled the
City to proceed with Kidsports. Professional services include Peccia & Associates(2002 +
2005) and Morrison & Maierle (1999) for different projects. Professional services for 2005
relate to the North End Utility Project.
Once the airport bonds were sold the increment was and is required to go to a debt service
fund. After meeting the debt requirements we transfer the available funds to the TIF
district. We were advised in 2003 by bond council to not include interest earning in this
fund and so we place the interest in the Airport operating fund. We were also advised to use
a capital project fund for the bond proceeds, construction and any additional land sale
revenue. This allows us to keep the Tax Increment District Fund strictly for incremental
income which is important when we sunset the district. The bond projects are not included
here. Salaries include part of the Airport Manager and Community Development Director.
Line item names change from year to year so some of the fencing is included in capital
improvements. Kidsport includes infrastructure improvements to water and storm sewer
systems which end up as assets in those funds. Community Development classification is
related to the Armory property and the Hilton Project.
Hope this answers any questions.
Fund 2185 Airport TIF
Cash Beginning of FY year
REVENUE:
Real Property Tax
Personal Property Tax
P & I
HB 124 Entitlement
Developer agreement -Rosauers
Developer agreement -Southfield
Developer agreement -Hilton
FAA & State Grants
Transfer from Debt Service 3185
Sale of Land
Interest
$
$
1997 1998
$
$ 3,815
$ 6
37,000 $ 1,441,832
$ 54,611
1999
$ 530,218
$ 2,710
$ 7
$ 19
$ 107,971
$ 9,410
2000
$ (5,103) $
$ 24,673 $
$ 11,609 $
$ 55 $
$
$ 10,256 $
$ 535 $
2001
(10,533) $
47,738 $
6,042 $
145 $
$
$
90,000
13,783 $
758 $
2002
85,758
120,056
3,978
178
5,153
58,937
83,342
15,797
2003
$ 216,598
$ 225,678
$ 9,733
$ 587
$ 5,153
$ 54,880
$ 34,530
$ 13,890)
2004
$ 464,533
$ 237,157
$ 12,906
$ 1,070
$ 5,153
$ 55,531
$ 18,400
2005
$ 739,718
$ 268,333
$ 11,353
$ 1,353
$ 5,153
$ 57,647
$ 1,378
2006
$ 775,850
$ 21,117
$ 10,748
$ 3,217
$ 5,153
$ 53,830
$ 5,000
$ 100,000
2007
$ 771,845
$ 3,524
$ -
$ 198
$ 5,153
$ 55,032
$ 140,000
2008
$ 99,178
$ -
$ -
$ -
$ 5,153
$ 57,828
$ 250,000
2009
$ 75,213
$ -
$ -
$ -
$ 5,153
$ 56,854
$ 37,411
$ 400,000
Total
Total Revenue
$
37,000 $
1,500,264
$ 120,117
$ 47,128
$ 158,466
$ 287,441
$ 316,671
$ 330,217
$ 345,217
$ 199,065
$ 203,907
$ 312,981
$ 499,418
$ 4,357,892
EXPENDITURES:
Revenuetotal
470240 -Personal Services
Salaries
$ 43,702
$ 47,305
$ 16,832
$
33,946
Health
$ 4,016
$ 4,942
$ 1,879
$
4,508
Retirement
$ 2,735
$ 2,858
$ 1,074
$
2,169
430300 Airport Expenditures
Auditing
$ 1,250
$
500
$ 500
$ 500
$ 1,000
$ 1,000
$ 1,000
$
1,000
Contract Services
$
4,636
$ 2,902
$ 2,719
$ 1,428
$ 767
$
37,925
$ 7,500
$ 4,108
$ 5,060
$ -
Professional Services
$
12,522
$ 101,890
$ 12,316
$ 4,997
$ 47,348
$
-
$ 11,100
$ 73,232
$ 8,800
$ -
$ 11,830
$
11,639
Admin charge
$ 10,220
$ 7,001
$ 2,199
$
13,599
$ 4,928
$ -
$ -
$ 36,043
$ 8,260
$
9,267
Capital Improvements
$
69,978
$ 3,849
$ 12,348
$ 637
$ 6,899
$ 18,689
$ 37,068
Airport Land acquisition costs
$
100,000
$ 1,111
$ 15,705
$ 26,793
$
34,493
North end Utility Project
$ 159,609
FAA Projects
$ 29,307
$ 14,500
$ 83,575
Traffic Signal
$ 28,867
Airport Fencing
$ 22,075
Subtotal Airport exp
$
69,978 $
117,158
$ 119,972
$ 92,558
$ 22,175
$ 156,601
$
52,024
$ 46,632
$ 282,931
$ 102,381
$ 92,148
$ 40,875
$
97,022
$ 1,292,455
Airport
Parks Dept.
Lions Park
$
16,712
$ 6,919
Begg Park/ Lakers
$ 12,540
$ 23,020
$ 11,605
$
26,253
Kidsport Improvements
$
819,910
$ 535,466
$ 30,000
$ 32,000
$ 25,125
$
36,875
Subtotal Parks
$
- $
819,910
$ 535,466
$ -
$
$
$
16,712
$ -
$ 19,459
$ 30,000
$ 55,020
$ 36,730
$
63,128
$ 1,576,425
Community Development
Parks
Armory
$ 70,689
$ 729,406
$ 259,341
Redevelopment activity
$ -
$
-
$ 8,400
$ 6,695
$ -
$
4,079
Subtotal Comm. Dev.
$
$ 8,400
$ 6,695
$ 70,689
$ 729,406
$ 259,341
$
4,079
$ 1,078,610
Com. Dev.
Total all Expenditures:
$
69,978 $
937,068
$ 655,438
$ 92,558
$ 22,175
$ 156,601
$
68,736
$ 55,032
$ 309,085
$ 203,070
$ 876,574
$ 336,946
$
164,229
$ 3,947,490
Internal Loan
$
32,978 $
(32,978)
$ 40,000
$ 40,000
expenditure
Cash Balance end of FY year
$
- $
530,218
$ (5,103)
$ (10,533) $
85,758
$ 216,598
$ 464 533
$ 739 718
$ 775 850
$ 771 845
$ 99,178
$ 75,213
$ 410,402
total
Note: After 2005 all TIF tax revenue deposited in Debt Service Fund per bond ordinance.
After meeting debt service requirements the balance is transferred to this fund for redevelopment activity