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10. Other BudgetsOTHER BUDGETS Page No. FUND No. 1 2927 Cultural Art Grants 13,500 3000 Debt Service Funds: total 91 3 500 4 3600 Sidewalk & Curbs 3640 SIDs 343-- 6 3012 . 0. Bond -Pool & Fire .' 170 City Hall Debt Service 3185 Airport TIF Debt Service 3188 2012 Westside TIF note 10 2372 Health Permissive Levy 728,239 Total Debt service & Misc. Budgets , 1 , 44 MONTANA CULTURAL ARTS GRANT FUND: 2927-400-460452....460454 PROJECTED REVENUE AND FiJI9TD SUMMARY BEGINNING CASH 010100 CASH: operating REVENUE 33401 Hockaday 334062 Glacier Chorale 334063 NW SIT Historical Soclety Total Revenue Total Available EXPENSES 400 CULTURAL ARTS GRANTS 460452 354 Hockaday grant 40454 354 Glacier Orchestra& Chorale 460456 354 NW MT Historical Society ENDING CASH Cash Carry Over ACTUAL BUDGET ACTUAL BUDGET FY10/ l FY11/12 FY11/12 FY12/13 o $0 o $o $0 0 $9,000 13,000 $5,000 $7,398 $,1 2 $2,370 $4,500 $6,00 $2,500 $0 $27,000 $15,930 $13,500 $0 $27,000 $15,930 $13,00 0 SO $0 $,000 $13,00 $5,000 $7,38 $6,162 $2,370 $4,500 $,500 $2,00 0 $27,000 $1 ,930 $13,00 0 $o $0 0 PROGRAM DESCRIPTION The Montana Arts Council provides an annual grant to the Hockaday, the Glacier Chorale and NW Montana. Historical Society. The City is the sponsor for these Grants. The funds flow through the ity's books and so are budgeted here. These are grant recommendations in the Governor's budget for the 2012 & 2013 budget to be approved by the legislature. PROGRAM SERVICES DEBT SERVICE FUNDS CAS REVENUE EXP. CARRY OVER BUD CASH 7/1/12 ANTICIPATEDPROJECTION AIRPORT TIF DEBT" $254,258 $702,500 $731 000 $225,758 WE T 1DE TIF BBB" 0 .,SOD 10 0 $ 00 NEW CITY HALL DEBT $318 $156,756 $15 ,755 $319 REVOLVING LfVIN $36,382 $ ,500 $0 $38,882 REVOLVING -BOND R.E ER $226,000 $0 $1 0,000 $12 ,000 . .B I D-2012 REFUNDING $54,313 $490,463 $507,274 $ 7,50 2004 S&C $830 $4,1 2 $4,12 $80 2005 S&C $0 $3,271 $372.71 $0 2007 &C $8 $2,388 $2,388 $258 2008 $& $ $1,306 $1,306 $0 2009 S&C $0 $1,1 1 $1,141 $0 2010 S&C $4 14 $143 $4 211 S&C $0 $1303 $1,030 $D Totals $1,092 $13,441 $13, 41 $1,092 1D 343 $147,718 $113,800 $210,800 $50,718 1D 344 $109,217 $394,958 $37 7735 $127,440 ID 34 $0 $45,000 $45,000 $o 1D Totals $25 ,935 $553,758 $6 2,5 5 $175,15 Total $8 9,2.98 $1,9 1,818 $2,173X5 $ 08,1 1 1 2 u-nnT VICE FUNDS: 3000 DEBT SERVICE EXPENDITURE SUMMARY 3012µ en Oblig Bend 2012- efundinig PoollFire Principal Payment to Escrow Agent Interest Fiscal Agent Fees Bond Issue Cost SUBTOTAL 3170 New City Hall Debt Service amended ACTUAL BUDGET ACTUAL BUDGET FY1 11 ' 11112 11/12 12/13 $355,000 $365,000 $3655000 $445,000 $41127,938 $4,127,938 $203,646 $190,2 8 $190,288 $61,874 $600 $600 $600 $400 $64,565 $64,565 $559,246 $4,748,391 $4,748,91 $507,274 Principal (amended Res. 5277-refinance) $100,632 $105,57 $105,572 $110,755 Interest $56,121 $51,181 $51,181 $47000 SUBTOTAL $156,753 $156,753 $156,753 $156,755 1 88-Westside T' Debt Service Principal $0 $0 $0 $12,000 Interest $0 $0 $0 $20,000 Operating Transfer $0 $0 $0 $0 SUBTOTAL $0 $0 $o $32,000 3185-AIRPORT TIF Debt Service Principal $120,000 $125,000 $125,000 $130,000 Interest & fiscal agent Fees $60,435 $55,875 $55,875 $51,000 Operating Transfer $500,000 $500,000 $500,000 $550,000 SUBTOTAL $6 0,435 $680,875 $680,875 $7 1,000 3604-3611 Sidewalk & Curbs Principal $1472 13 $12,6 1 $12., 660 $11,666 Interest + closeout $2,51 $2,644 $2,141 $1,775 SUBTOTAL $17,164 $15,3 05 $14,801 $13,441 3643-3645 SID's Principal $30,000 $305,000 $225,000 $415,000 Interest $208,993 $196,8 $195,058 $216,635 Fiscal Agent Fees/close out $7,818 $600 $600 $900 SUBTOTAL $5,811 $50,528 $40,658 $63,535 3500 SID Devolving Fund - transfers to SID 344 $0 $12,000 $12,000 $100,000 TOTAL $1, 50,409 $6,115,852 $6,033,478 2,173,005 3 ACTUAL BUDGET ACTUAL BUDGET I+YI0/11 FY11/12 FY11/12 FY12/13 3602 2000-2003 S & C Prlr $3,391 $1,720 $1,720 .0 Interest 209 69 69 0 close out 500 3604 '004 S & C Principal $3,962 $3,962 $3,962 $3,962 Interest 94 37 S396 6200 3605 !005 S & C Principal $2,857 $2,857 21>57 $2,857 Interest 2 622 621 414 3607 207 S & C Principal $1,926 $1,926 $1,926 $1,926 Interest 693 577 577 462 3608 2008S & C Principal $1,123 $1,123 $1,123 SIJ23 Interest: 255 219 219 1 3 369 2009 S & C Principal 954 955 4 55 Interest 372 217 217 1 S6 610 2010 S & C Principal 11 11 11 Interest 4 42 25 3611 2011 S & C Principal 725 Interest 305 Sub Total S's $17,164 $15,305 $14,801 $13,441 4 "ILIOBT SERVICE FUNDS: 3000 DEBT SERVICE 3641 SID 341 (final year 2011) Principal Interest closeout to revolving 342 SID 342 (final year 2011 Principal Interest Fiscal Agent Fees 3643 SID 343 Principal Interest Fiscal Agent Pees 344 SID 344 Principal Interest Fiscal Agent Pees 3645 SID 345 Principal Interest Fiscal Agent Pees EXPENDITURE DETAIL ACTUAL BUDGET ACTUAL BUDGET FY10/11 FYI1/12 FYI1/12 JFY12/I3 $5,000 $0 $0 $ $310 $0 $0 so 6,91 8 $0 $0 $ $10,00 .$0 $0 0 $25 $0 $0 $o $300 $0 $0 $ $0,000 $0,000 $ $1 6 0,00 $38,400 $36,270 $34,400 $50,500 $300 $30 300 $300 .$225,000 $225,000 $22 ,000 $225,000 $169,658 $1 0,658 $160fi58 $151,435 $300 $30 $30 300 ID'S Subtotal $53 6,811 $502,528 $420,65 The SID Revolving fund is used to make loans to individual Special Improvement District debt service Binds to pay for shortfalls of revenue needed to pay principal and interest. Close out of funds is budget with transfer per GASB34. e have numerous SID's and Sidewalk & Curb funds which are assessed against the property and billed on the County tax notice to the property owner. $3 0,0 $14,700 $300 $32,55 a 0. BONDS, series 2012 -Aquatics Facifity & Fire Hall FUND: 30 i 2-Ofl0-4901 00 PROJECTED REVENUE AND FUND SUMMARY amended 1, BUDGET ACTUAL BUDGET F 11/1 FY11I1 F 1 1 BEGINNING CASH 10165 Dash, Bond Account 0 $54,313 REVENUE 311100 ,Deal Estate Taxes (billed) $469,639 311200 Personal Property Taxes (billed) $1 ,074 312000 Penalty & Interest $23000 371010 Interest Earnings 70 381080 Equity Transfer from 3010 & 3162 $4 ,3 3 $49,35 381010 PROCEEDS OF BONDS S4,197,763 $4,197,763 Fatal Revenue $4,247,116 $4,247,11 $490746 TOTAL, AVAILABLE $4,247,116 $4,2471116 $544,776 EXPENDITURES Debt Service: 610 Principal $44 ,000 615 Payment to Refunded Debt Escrow agent $41127,938 $4,127,938 0 Interest $61,74 630 Fiscal agent fees 00 $300 400 640 Bond Issue Costs $64,65 $64,65 $4,192503 $4,192,03 $07,274 ENDING CASH Cash, Sand Account $54,313 $54,313 $37,502 PROGRAM DESCRP'I'ION The voters of Kalispell approved a General Obligation Bond, series 2002 for the construction of a new aquatics facility and skateboard park. Interest was 4.66%. The new pool's first year of operations was the 2004 summer, The voters of Kalispell approved a General Obligation Sand for the construction of a new fire baII in 2005. This was a 31000,000 bond ,15 year - final payment 71112020_ The interest rate was 3.94%. Both of these bonds were advance refunded .tune 2012. The new avereage interest rate is I.56%. The remaining Iife of the bonds was not extended. Anticipated savings over the remaining Iife i s $5 6 5,000. 6 BEGINNING CASH 1 100 ASH REVENUES 335230 General Fund -Entitlement 13 361050 Water Rent Water billing Sewer Sewer billing Storm Street Main Garbage Comm Dev, Total Revenue TOTAL L AVAILABLE EXPENDITURES DEBT SERVICE 610 Principal -12 year $1,420,165 620 Interest -4.85% ENDING CASH ACTUAL BUDGET ACTUAL BUDGET FY10/11 FY11/12 FYII/12 FY12/13 $317 $314 $317 $31.7 $97,184 $97,184 $97,184 $99,540 $7,838 $77838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,38 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,838 $7,38 $7,839 $7,838 $7,838 $7,838 $47703 $4,7 3 $4,703 $2,350 $156,753 $156,753 $156,753 $156775 157,070 $1577 67 $157, 70 $157,07 $1 0,6 2 $1 5,572 $105,572 $11 ,755 $56,121 $51,1 1 $51,181 $46,00 $1562753 $15 ,753 $15 ,753 $156,755 .$317 $31 $317 $318 Debt service funded by charges from all departments housed in the new facility. General Fund share fended directly From Entitlement dollars to eliminate double budgeting in the General fund. 7 2005 AIRPORT TIF BOND -Debt Service FUND: 31 SS-Q00-49Q700 PROJECTED REVENUE AND FUND SUMMARY ACTUAL UA U T ACTUAL BUDGET I FY10/11 J FY11/12 FY11/12 FY12/13 BEGINNING CASE[ 1165 Cash, Bond Account $2,509 $40,629 $40,29 $69,383 10130 Cash, Bond Reserve $184,875 $1847875 $184,875 $184,875 REVENUE 311100 Real Estate Taxes (billed) $38,25 $600,00 $52,054 $50,000 311200 Pers. Property Taxes (budget billed; actual collect $49,710 $0,000 $51,397 $50,000 312000 Penalty & Interest $,220 S2,500 $4,173 $2,500 371010 Investment Eamings $2,005 Total Revenue $ 94, 55 $662,500 $709,629$102, 00 TOTAL AVAILABLE $721,0 4 $7 3,12.9 $750,258 $ 71,883 EXPENDITURES 610 Principal $120,000 $125,000 $125,0M $1 0,000 620 Interest $60,135 $55,575 $55,75 $50,700 630 Fiscal agent fees $300 $300 $30 $300 Total Debt Service $180,435 $180,875 $180,875 $181,000 Operating Transfer to TIF $500,000 $500, 00 $500,000 $550,000 TOTAL EXPENDITURES $ 807435 $680,875 $68 ,875 $731,000 ENDING CASH Total Cash Available for $225,504 $207,129 $254,258 $2257758 10165 Cash, Bond Account $40,629 $22,254 $ 9,3 3 $40,883 10130 Cash, fond Reserve $184,875 $184,875 $1 4,575 $184,875 PROGRAM DESCRIPTION Current debt 1s a 15 year band for $2,000,000 with final payment 7l11202 ; 4.11 % -3.87% Revenue in excess of the debt service is transferred to the Airport Tax Increment ]district. 8 BEGINNING CASH 10100 Cash., Bond Account REVENUE 382188 Operating Transfer from T1F 371010 Interest Total Revenue TOTAL AVAILABLE EXPENDITURES 610 Principal 620 Interest Total Debt Service TOTAL EXPENDITURES ENDING CASH Total Cash Available for 10100 Cash, fond Account amended BUDGET ACTUAT. BUDGET FY11/12 FY11/12 FY12/13 $0 $0 0 $600 $0 $6,000 $0 $32,000 $400 $6,000 $6,000 $32,400 $6,000 �j'�J 5+i�1•S�I�ial�i�il�YYYY�mYY�m $6,000 -�Nq�i�i N�i�i�i�i��Y��r $32,400 $,000 $,000 1,000 $20,000 $6,000 $67000 $32,000 $650 0 $6,000 $321000 o $o $400 PROGRAM DESCRIPTION Current debt service is a $00,000 Note 2012. The rate is a variable rate; .75 basis points above prime adjusted semi-annually on each interest payment date. (Fall Street Journal) The initial interest rate is 4%. There is no bond reserve requirement, hoviever, the balance in the TIF Development Fund 2188 muut be at least equivalent to the outstanding principal on the bond at fiscal year end. RESOLUTION 5550, Dated March 5,2012 BEGINNING ASH 10100 Cash on Hand REVENUE 11100 Real Estate taxes 311200 Personal Property takes 312000 Penalty & Interest Total Revenue Total Available ]EXPENDITURES 521000-810 Health Insurance -transfer to General Fund 521000-810 Health Insurance -transfer to PARK ENDING CASH Cash Carry over ACTUAL FY10/I1 ]BUDGET FY11/12 ACTUAL FY1I/12 BUDGET FY12/13 12,04 15,234 15,2 $ 34,609 aarryyy�5�•i. 548,599 27,1 4,762 . $ $ 637,578 25,000 300 $ 637,394 26,227 ,01 $ 699,65 $ 225157 33000 580,506 $ I i5i5i5 iii5 rt iiiiiiii�i��• 6657578 IW+�X.iiriiy�iiiii�ii� $ 667,522 MM�wwww�w�ww�r $ 724,815 +'f� 592, 4 i55 lii i�ii ii iiiii�ii�i��i�ir�� 80,12 i-5•ril.rrri��.�rWiww.wwYw.nwwww�a i$ 62,756 $ 75,424 51,26 65,000 $ 831147 65,000 53,147 6,000 $ 66,23 $ ,00 $ 577,326 648,147 648,147 $ 728,239 1,34 $ 32,665 $ 34,609 $ 31,185 PROGRAM DESCRIPTION This budget is used to track the revenue from the permissive rill levy which provides funding for health premium. increases. Health insurance premiums are budgeted in the General Fund by department. The revenue generated frorn the permissive levy is used to make an operating transfer to the General Fund. The State legislature restructured the method for calculating the amount to be levied with the pensive health levy. The calculation sets year 2000 as a base year and calculates the average increase per governmental employee times the number of employees. Since it is an average amount, currently $1028 per employee, it is not necessary to adjust for single, married, 2 party, etc, Although we had a 5 % increase in premiums, the calculation takes into effect the number of employees also. e have 36 less General Fund employees than we had in year 2000 and less emplyees than last year. Increase in Health Premiums projected at 5 %. Levy amount determined based on values received from the Department of Revenue results in a estimated levy of 18.5 mills. 10