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08. Other BudgetsOTHER BUDGETS FUND No. 2927 Cultural Art Grants $ 13,000 3000 Debt Service Funds $ 21382,647 2372 health Permissive Levy $ 5761)614 $ 239725261 211 MONTANA CULTURAL ARTS GRANT FUND: 2927-400-460452 ....460454 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 010100 CASH: operating REVENUE 334061 Hockaday 334062 Glacier Chorale 334063 NW MT Historical Society Total Revenue Total Available EXPENSES Cultural arts ENDING CASK. Cash Carry Over 2 year ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 �j FY08/09 $0 $0 $0 $0 $25,125 $0 $0 S14,000 $71000 $5,000 $7,830 $o $225 $7,000 $0 $61000 $23-125 $26,000 $81)055 $13,000 $2,125 $265000 $85055 $ l 3,000 $25125 $26,000 $8,055 $13,000 $o $0 $o $o 212 MONTANA CULTURAL ARTS GRANT FUND: 2927-400-460452....460454 EXPENDITURE DETAIL/ Summary ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 400 CULTURAL ARTS GRANTS 460452 354 Hockaday grant (requested) $25125 $149000 $7,830 $7,000 460454 354 Glacier Orchestra & Chorale $0 $73000 $0 $1,00o 460456 354 NW MT Historical Society $0 $5,000 $225 $51000 Total $2,125 $26,000 $8,055 $13,000 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 City's books and so are budgeted here. Since the Legislature went into special session it is unknown at this time what the actual awards may be for these grants. These are grant amounts approved by the legislature for the 2008 & 2009 years. 213 FUND PROGRAM OF SERVICES DEBT SERVICE FUNDS REVENUE EXP. CASH 711108 ANTICIPATED PROJECTION CASH CARRY OVER 6/30/2009 WESTSIDE TIF DEBT $1741486 $395,509 $432,569 $137,426 AIRPORT TIF DEBT $9,329 $670,800 $6651150 $14,979 NEW CITY HALL DEBT $20,649 $969950 $117,565 $34 REVOLVING $274,465 $0 $301X0 $244,465 G.O.BOND-POOL $24,846 $2871)235 $290,863 $21521.8 G.O.BOND-FIRE HALL $30,615 $277,475 $2735128 $34,962 1997-1999 S&C $100 $0 $100 $0 2000 S&C $0 $318 $318 $0 2002 S&C $0 $1,884 $1,884 $0 2003 S&C $0 $1,996 $1,996 $0 2004 S&C $0 $4,953 $4,953 $0 2005 S&C $0 $41100 $41100 $0 2007 S&C $0 $3,313 $3,313 $0 S& C Totals $100 $163564 $16,664 $0 SID 341 $51,000 $6,300 $6,300 $5,000 SID 342 $5,450 $63300 $6,300 $5,450 SID 343 $7%075 $131,600 $131,600 $79,075 SID 344 $226,000 $412,508 $412,508 $226,000 SID Totals $3155525 $556,708 $556,708 $315,525 Total $850,015 $29301,241 $213823647 $768,609 214 DEBT SERVICE FUNDS: 3000 DEBT SERVICE ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 3010-Gen Oblig Bond 2002- Aquatic Facility Principal $140,000 $145,000 $145,000 $155,000 Interest $148,688 $142,088 $1421088 $135,563 Fiscal Agent Fees $250 $300 $300 SUBTOTAL $28808 $2871-338 $287,388 $290,863 3162-Gen Oblig Bond 2005- Fire Station #62 Principal $160,000 $16530000 $165,000 $175,000 Interest $118,258 $107,858 $107,858 $97,778 Fiscal Agent Fees $300 $300 $300 $350 $278,558 $273 J 58 $273,158 $273,128 3170 New City Hall Debt Service Principal (amended Res. 5277-refinance) $966,881 $940,058 $%577 Interest $28,028 $28,668 $48,988 SUBTOTAL $0 $994,909 $968,726 $117,565 3188-Westside TIF Debt Service Principal $651)655 $745,197 $69,795 $74,197 Interest $16,914 $8,372 $12,773 $8,372 Operating Transfer $4005000 $320,000 $320,000 $350,000 SUBTOTAL $482,569 $402,569 $402,568 $432,569 3185-AIRPORT TIF Debt Service Principal $1051000 $110,000 $110,000 $235,000 Interest & fiscal agent fees $77,560 $74,028 $73,428 $130,150 Operating Transfer $1401)000 $250,000 $250,000 $300,000 SUBTOTAL $322,560 $4343,028 $4331,428 $665,150 359X-3607 Sidewalk &. Curbs Principal $10,497 $101)722 $10,721 $12,426 Interest $4,693 $3,522 $3,322 $4,238 SUBTOTAL $15,190 $141244 $14,043 $16,664 3641-3642-3643-3644 SID's Principal $335,000 $315,000 $315,000 $315,000 Interest $2731008 $256,063 $249,850 $240,508 Fiscal Agent Fees $900 $11)200 $900 $1,200 SUBTOTAL $6081908 $572,263 $565,750 $556,708 3500 SID Revolving Fund - transfers SUBTOTAL $25,000 $15,000 $34,568 $30,000 TOTAL $2,021,473 $2,993,509 $2,979,629 $2 382,647 215 DEBT SERVICE FUNDS: 3000 DEBT SERVICE EXPENDITURE DETAIL ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 359X 1997 - 1999 S & C Principal $432 $222 $221 $0 close out $54 $219 $19 $100 3600 2000 S & C Principal $289 $290 $290 $290 Interest $83 $55 $55 $28 3602 2002 S & C Principal $1,670 $1,671 $1,671 $1,67 I Interest $355 $284 $284 $213 3603 2003 S & C Principal $1,720 $1,720 $1,720 $1,720 Interest $413 $344 $344 $276 3604 2004 S &. C Principal $33962 $3,962 $3,962 $31)962 Interest $1,386 $1,189 $11189 $991 3605 2005 S & C Principal $2,856 $21857 $2,857 $2,857 Interest $21456 $1,431 $1,431 $1,243 3607 2007 S & C Principal $11,926 Interest $ 1 ,387 Sub Total S&C's $151,676 $145244 $14,043 $16,664 216 DEBT SERVICE FUNDS: 3000 DEBT SERVICE 3641 SID 341 Principal Interest Fiscal Agent Fees 3642 SID 342 Principal Interest Fiscal Agent Fees 3643 SID 343 Principal Interest - Amended Fiscal Agent Fees 3644 SID 344 Principal Interest - Amended Fiscal Agent Fees SID'S Subtotal EXPENDITURE DETAIL ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 $5,000 $51000 $5,000 $5,000 $1,830 $1,230 $19230 $1,000 $0 $300 $0 $300 $5,000 $51000 $5,000 $5,000 $1,875 $1,875 $1,562 $1,000 $300 $300 $300 $300 $ I K000 $80,000 $803,000 $80,000 $55,850 $571,200 $51,300 $51,300 $300 $300 $300 $300 $2251000 $225,000 $225,000 $225,000 $213,453 $195,758 $1951,758 $187,208 $300 $300 $300 $300 $608,908 $572,263 $565,750 $556,708 Westside TIF Bonds (formerly Stream) are financed through the Montana Board of Investments for 10 years and are funded by the Westside Tax Increment District and the County Port Authority. The SID Revolving fund is used to make loans to individual Special Improvement District debt service funds to pay for shortfalls of revenue needed to pay principal and interest. Close out of funds is budget with transfer per GASB34. We 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. 217 2002 G. 4. BOND -Aquatics Facility FUND: 3010-000-490100 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10165 Cash, Bond Account REVENUE 311100 Real Estate Taxes (billed) 311200 Personal Property Taxes (billed) 312000 Penalty & Interest 371010 Interest Earnings Total Revenue TOTAL AVAILABLE EXPENDITURES Debt Service ENDING CASH Cash, Bond Account 9 mills 7.5 mills 7.5 mills 7.75 mills ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 . I ___ FY07/08 FY08/09 $43,022 $46,551 $463551 $24,846 $270,918 $151243 $1,382 $4,674 $250,000 $121)000 $1,200 $3,500 $246,759 $13,862 $1,049 $4,012 $270,000 $133735 $13000 $2,500 $292,217 $266,700 $265,682 $287,235 $3353239 $313,251 $312,233 $312,081 $288,688 $2873338 $287,387 $290,863 $46,551 $25,913 $24,846 $213218 218 2002 G. O. BOND -Aquatics Facility FUND: 3010-000-490100 EXPENDITURE DETAIL/SUMMARY ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 610 Principal $1401)000 $145,000 $145,000 $155,000 620 Interest $148,388 $142,088 $1.42,087 $135,563 630 Fiscal agent fees $300 $250 $300 $300 Total Debt Service $2889,688 $287,338 $287,387 $290,863 The voters of Kalispell approved a General Obligation Bond for the construction of a new aquatics facility and skateboard park. The new pool's first year of operations was the 2004 summer. This is a 20 year bond with final payment 7/1/2022 Due to growth in the value of the City it appears to be possible to lower the mill levy one mill. The actual mill value will be provided by the State Department ❑f Revenue in August. The mill will be adjusted to generate the revenue needed for debt service. 219 2005 G. O. BOND -Fire Hall #62 FUND: 3162-000-490100 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10165 Cash, Bond Account REVENUE 311100 Real Estate Taxes (billed) 311200 Personal Property Taxes (billed) 312000 Penalty & Interest 371010 Interest Earnings Total Revenue TOTAL AVAILABLE EXPENDITURES Debt Service ENDING CASH Cash, Bond Account 9.5 mills ACTUAL FY06/07 8 mills BUDGET FY07/08 8 mills ACTUAL FY07/08 7.5 mills BUDGET FY08109 ($5,437) $20,773 $20J73 $30,615 $286,285 $13,823 $1,152 $3,508 $267,010 $12,000 $1,000 $3,000 $2631)727 $14,609 $1,077 $3,587 $260,000 $14,475 $1,000 $21P000 $304,768 $283,010 $283,000 $2775475 $299,331 $303,783 $303,773 $308,090 $278,558 $273,158 $273,158 $273,128 $20,773 $30,625 $30,6I5 $34,963 220 2005 G. O. BOND -Fire Hall #62 FUND: 3 l 62-000-490100 EXPENDITURE DETAIL/SUMMARY ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 610 Principal $160,000 $165,000 $165,000 $175,000 620 Interest $118,258 $107,858 $107,858 $971778 630 Fiscal agent fees $300 $300 $300 $350 Total Debt Service $278,558 $2735158 $2731)158 $2731)128 PROGRAM DESCRIPTION The voters of Kalispell approved a General Obligation Bond for the construction of a new fire hall. This is a $3,000,000 bond ,15 year f nal payment 7/112020 Due to growth in the value of the City it appears to be possible to lower the mill levy one mill. The actual mill value will be provided by the State Department of Revenue in August. The mill will be adjusted to generate the revenue needed - for debt service. 221 NEW CITY HALL DEBT SERVICE FUND: 3170-000-490100 PROJECTED REVENUE AND FUND SUMMARY BEGINNING CASH 10100 CASH: REVENUES Proceeds of Loan (amended) Rent General Fund Water Water billing Sewer Sewer billing Storm Street Main Garbage Comm Dev. Interst Earnings Total Revenue TOTAL AVAILABLE EXPENDITURES DEBT SERVICE ENDING CASH 10100 CASH: BUDGET ACTUAL BUDGET FY07/08 FY07/08 FY08/09 $0 $0 $20,649 $906,225 $918,774 $0 $43100 $25,000 $50,500 $143,310 $7,750 $6,275 $7,750 $55500 $14,310 $7,750 $61275 $75750 $55,500 $4,300 $650 $61275 $4,300 $4,650 $4,650 $4,300 $4,650 $6,275 $4,300 $4,650 $4,700 $0 $0 $1,000 $995,045 $98%374 $961950 $995,045 $989,374 $117,599 $9881350 $968,725 $1 17,565 $6,695 $20,649 $34 Debt service funded by rent from all departments housed in the new facility. 222 NEW CITY HALL DEBT SERVICE FUND: 3I70-000-490100 EXPENDITURE DETAIL/Summary Debt Service -original loan (shared w/building fund) Principal -refinance 610 Principal -12 year $1,420,165 ( 62%; building 38%) 620 Interest -4.85% LESS Aug payment - General Fund Total Debt Note: General Fund made Aug 2007 payment - construction not yet completed Building Fund carries its own debt service BUDGET BUDGET BUDGET FY06/07 FY07/08 FY08/09 $906,225 $940,058 $78,000 $41,600 $68,577 $45,725 $28,667 $48,988 ($41,600) ($41,600) $988,350 $968,725 $117,565 223 WESTSIDE TIF DEBT SERVICE "C" FUND: 3188-000-490700 (Formerly Stream Debt service) BEGINNING CASH 10161. Cash Tax Increment 10165 Cash, Bond Reserve Total Cash REVENUES 311100 Real Estate Taxes (67%) 311200 Personal Property Taxes 312000 Penalty & Interest 335230 HB 124 Entitlement 341015 Developer payment-TELETECH 371010 Interest Earnings 373072 Port Authority (37%) Total Revenue Total Available EXPENDITURES Transfer to 2188 TIF Debt Service Total Expenditures ENDING CASH Total Cash Available for : Cash Tax Increment Cash, Bond Reserve REVENUE PROJECTION ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 $286,319 $1071Y989 $1071989 $91,917 $82,569 $82,569 $82,569 $82,569 $3681,888 $190,558 $1905558 $174,486 $157,745 $200,000 $256,625 $265,000 $19,023 $18,000 $7,151 $7,000 $1,769 $1,500 $758 $550 $41,368 $41,368 $41,368 $41,368 $37,329 $391,329 $42,540 $42,540 $161455 $141)358 $7,504 $8,500 $309550 $301,550 $30,550 $301)550 $3041239 $345,105 $386,496 $3953508 $673,127 $535,663 $577,054 $56%994 $4001)000 $3201)000 $32000 $3501000 $82,569 $82,567 $82,568 $82,569 $482,569 $402,567 $402,568 $4321)569 $190,558 $133,096 $1741486 $137,425 $107,989 $50,527 $91,917 $54,856 $82,569 $821569 $82,569 $821)569 Debt Service of $82,568 requires revenue of $103,210 to meet the 125% coverage. Port Authority share of debt service is 37% or $30,550. 224 WESTSIDE TIF DEBT SERVICE "C" FUND: 3188-000-490700 (Formerly Stream Debt service) EXPENDITURE SUMMARY /DETAIL ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 610 Principal $655,655 $69,795 $69,795 $74,197 620 Interest $16,914 $12,772 $121,773 $81Y3 72 Total Debt Service $82,569 $82,567 $82,568 $82,569 820 Operating Transfer to TIF district $400,000 $320,000 $320,000 $350,000 Total Budget $482,569 $402,567 $402,568 $432,569 PROGRAM DESCRIPTION This Debt Service fund is to service the Urban Renewal bonds issued on our behalf by the Board of Investments. It is a ten year loan with several sources of revenue. The Port Authority of Flathead County has pledged 37% annually for debt service. The City has pledged all of its Westside Urban Renewal District Tax Increment and the State Reimbursements for Personal Property. After all debt service requirements have been met, including 125% coverage, any balance can be transferred to the VWestside Urban Renewal fund. Per the Resolution, all Tax Increment money must be receipted into the Debt Service Fund. 225 HEALTH -permissive levy FUND: 2372-400-521000-810 REVENUE PROJECTION 13.5 mills 14,75 mills 14.75 mills 16.22 mills BEGINNING CASH 10100 Cash on Hand REVENUE 311100 Real Estate taxes 311200 Personal Property taxes 312000 penalty & interest Total Revenue Total Available EXPENDITURES 521000 Health Insurance -transfer to General Fund ENDING CASH Cash Carry over ACTUAL BUDGET ACTUAL BUDGET FY06/07 FY07/08 FY07/08 FY08/09 $ 24,335 $ 13,937 $ 13,937 $ 8,658 $ 4031)936 $ 500,000 $ 480,656 $ 5701>000 $ 18,910 $ 15,000 $ 20,831 $ 22,000 $ 1,802 $ 1,500 $ 1,611 $ 1,300 $ 424,648 $ 516,500 $ 50308 $ 5931)300 $ 448,983 $ 530,437 $ 517,035 $ 6011)958 $ 435,046 $ 508,377 $ 508,377 $ 576,614 $ 13,937 $ 22,060 $ 8,658 $ 25,344 wt HEALTH -permissive levy FUND: 2372400-521000-810 Health Insurance EXPENDITURE SUMMARY ACTUAL ACTUAL BUDGET BUDGET FY05/06 FY06/07 FY07/08 FY08/09 $ 435,046 $ 508,377 $ 5081,377 $ 576,614 $ 435,046 $ 508,377 $ 508,377 $ 576,614 PROGRAM DESCRIPTION This budget is used to track the revenue from the permissive mill levy which provides funding for the increased premiums from the rate increase in FY2003. Health insurance premiums are budgeted in the General Fund by department. The revenue generated from the permissive levy is used to make an operating transfer to the General Fund. Health insurance increases for the 2009 fiscal year are added to the original levy for prior health increases. Health insurance rates for 2008 increased 4.5% The amounts vary by the number of employees in the department at the time. Only the increased premiums are levied here; the original amounts are budgeted in the General Fund. Enterprise and Special Revenue funds budget health insurance in those funds. The health costs of hiring additional employees is not levied here, only the increased cost related to existing employees at the time of the rate increase. Due to many years of setting our own rates when we were self -inured our rate structure became inaccurate based on actuarial concepts. Basically 2 party should be twice a single, however, our rates were $60 more than double for 2 party. We asked MMIA to give us actuarially sound rates for 2007-2008. Doing this lowered the single premium and adjusted all of the other categories. Now the 2 party rate is twice the single, employee with child is 1.75% of the single and family is 2.75% of the single rate. 2009 rate increases will be shared 50150 with the employees. 227 HEALTH -permissive levy FUND: 23 72-400-521000-810 EXPENDITURE DETMI, 12.5 MILLS 13.5 MILLS 14.75 mills 16.22 Manager/Personnel Mayor/Council/City Clerk Finance City Attorney Court Director of Public Works Central Garage Police Department Fire Department Building Maint. Planning & Zoning Dept. Parks & Recreation 2372-400-521000-810 Operating Transfer Funds will be transferred to General Fund ACTUAL FY06/07 BUDGET FY07/08 ACTUAL FY07/08 BUDGET FY08/09 cumulative increase $ 12,660 $ 16,056 $ 16,056 $ 181,107 $ 6,147 $ 6,291 S 6,291 $ 9,563 $ 15,941 $ 19,373 S 1 %373 $ 211469 $ 13,440 $ 16,872 $ 16,872 S 19,364 $ 123,097 $ 151481 $ 151481 $ 171428 $ 65452 $ 81)650 $ 8,650 $ 9,072 $ 11,929 $ 14,931 S 14,931 $ 161)560 $ 204,642 $ 2341P563 $ 2341563 $ 260,000 $ 935442 $ 1011173 $ 101,173 $ 120,007 $ 1,379 S 3,059 $ 3,059 $ 3,676 $ 71768 $ 13,720 $ 13,720 $ 17,209 $ 499149 S 58,208 $ 589208 $ 64,160 $ 435,046 $ 508,377 $ 508,377 $ 576,614 $ 435,046 S 508,377 $ 508,377 S 576,614 228