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HomeMy Public PortalAbout09.05.2023 Work Session Meeting Packet Posted 5/29/2009 Page 1 of 1 WORK SESSION AGENDA MEDINA CITY COUNCIL Tuesday, September 5, 2023 6:00 P.M. Medina City Hall 2052 County Road 24 I. Call to Order II. 2024 Budget Open House III. Adjourn Posted 9.01.2023. MEMORANDUM TO: Mayor and City Council Members FROM: Erin Barnhart, Finance Director DATE: August 31, 2023 SUBJ: 2024 Preliminary General Fund Budget Open House Background This open house is to inform residents on the City of Medina’s current proposed general fund budget and preliminary property tax levy. The certification of a preliminary property tax levy is due to Hennepin County by September 30, 2023. The certification sets a not to exceed cap for the final levy certification in December 2023, the final levy can remain the same or be reduced. General Fund – see attached pg. 1-2 The General Fund is the primary operating fund for the governmental operations of the City. Activities enabled by General Fund planning include police protection and community support, fire prevention and suppression, planning and zoning, street maintenance and repair, parks and recreation, sanitation, and waste removal, as well as engineering, legal and general administrative functions. Overall General Fund expenditures are budgeted to increase 7.8% or $509,816. Due to a reduction in transfer to the Future Fire Facility – West Suburban Fire plans to implement a taxing district. The overall increase for 2024 is projected to be 2.4% or $154,816 (pg. 1, line 38). The following are areas which increases are budgeted: • General Increases o Fuel - $7,500 o Materials/Supplies (street/trail, computer) - $41,100 o General Services (publishing, repairs, seminars, etc.) - $13,625 o Contracted Services – $62,700 o Insurance (property & auto) - $10,000 o Utilities (electric & gas) - $9,200 • Current Contract Negotiations o Fire (operations)  West Suburban Fire $97,541  Maple Plain Fire $788 (CPI increase not to exceed 5%).  Long Lake Fire – $13,094 • Future Fire – transfer of $100,000 • Staffing o Union market wage adjustments (police officers) - $85,430 o Grade 8-11 (department heads) market wage adjustment - $17,984 o Annual step increases (11 employees) - $28,538 o Election Staff - $4,000 o COLA 3% (all staff) – $81,314% 2 o Total Staff increase (market adjustment, steps, COLA, PERA) - $217,266 o Medical Insurance – 10%, $33,537 increase budgeted (7% City, 3% staff).  2023 rate increase was 1.9%. The market rates will be released in October and budget will be adjusted accordingly. Property Tax Levy – see attached 3-5 The property tax levy allocates 81% to the General Fund for general operations of the City. Debt service comprises 7.0%, capital levies (Municipal Park, Road, and Equipment) comprise 10.0% and the Future Fire 2.0%. Preliminary calculations from Hennepin County estimate a 9.7% market value increase (pg. 2, line 1) and a 10.5% tax capacity increase (pg. 2, line 2). Of the market value increase, 2.3% or $55,135,951 is attributed to new development and tax base growth from 2022. (36 new single- family homes, 68 townhome units and 3 commercial buildings). Preliminary 2024 tax rate: 20.958%; a decrease of 7.1% from 2023. 2023 2024 2023- 2024 Budget Proposed Change City Tax Rate: 22.557% 20.958% -7.1% General Fund Levy: $5,090,500 $5,081,243 ($9,257) Debt Service & Capital Levies: $910,446 $1,058,747 $148,301 Total Levy: $6,000,946 $6,139,990 $139,044 Change in Total Levy: 2.3% Property Tax Distribution – see attached pg. 8 Property taxes are distributed to several districts/agencies. They include county, school district, city, and metro taxing districts (regional railroad authority, county parks, mosquito control, etc.) Capital Improvement Plan (CIP) – see current draft attached The CIP is a 5-year plan in place to determine long-term project & equipment needs. Capital improvement projects are funded by a combination of assessments, bonding, grants, state aid, developer contribution and the following funds: • Road Fund • Equipment Fund • Revolving Capital Fund • Water Capital Fund • Sewer Capital Fund • Future Fire • Storm Water Fund • DWI Forfeiture Fund • Municipal Park Fund • Park Dedication Fund 3 Reserve Fund Per city policy: As of 12/31/22, the general fund balance goal was $2,737,518 (using 5 months of 2023 budgeted expenditures of $6,570,044). The General fund balance at 12/31/22 was $3,718,512 or $980,994 above the goal. Of the general fund reserves, $263,935 has been assigned for specific functions, leaving $701,807 of unassigned reserves. The reserves assigned within the general fund are as follows: - $230,000 Post-retirement benefits - $135,000 Termination Liability - $48,000 Comprehensive Plan ($8,000 annually allocated) - $232,746 Affordable Housing (ALHOA) (currently funded from antenna revenue) - $30,000 Fire Study Implementation - $64,402 Litigation (remaining from original $280,000) Total - $752,648 (assigned) Total - $228,346 available No recommended reserve transfers currently. Tax Assessment & Levy Timeline – see attached pg. 14 Certify Preliminary Levy – September 5, 2023 Truth in Taxation Notices (TNT) – November distribution TNT Meeting/Final Levy Certification – December 5, 2023 deadline Actions Needed – regular council meeting Resolution Approving Proposed Tax Levy for 2024 Resolution Approving Proposed General Fund Budget for 2024 Resolution Reducing Debt Service Tax Levies for 2024 Set Truth in Taxation Meeting for Tuesday, December 5, 2023 CITY OF MEDINA GENERAL FUND PRELIMINARY 2024 BUDGET 2024 Amount Percentage 2021 2021 2022 2022 2023 2023 Prelim Increase Increase Budget Actual Budget Actual Budget YTD Budget (Decrease) (Decrease) REVENUES & OTHER FINANCING SOURCES: 1 Property Tax Levy 3,731,800 3,620,188 4,147,600 4,050,726 5,090,500 2,614,631 5,081,243 (9,257)-0.2% 2 Other Taxes 75,000 104,420 85,000 112,458 75,000 62,846 7,000 (68,000) -90.7% 3 Licenses and Permits 391,269 776,619 492,500 541,505 346,400 227,983 380,483 34,083 9.8% 4 Intergovernmental 288,773 700,635 303,773 327,154 283,998 159,377 332,000 48,002 16.9% 5 Charges for Services 141,254 148,868 143,074 387,663 310,871 229,967 331,015 20,144 6.5% 6 Fines and Forfeitures 95,000 63,904 95,000 49,480 55,000 31,563 55,000 0 0.0% 7 Special Assessments 0 32 0 0 0 178 0 0 N/A 8 Interest om Investments 30,000 (58,953) 30,000 (203,121)0 1,365 0 0 N/A 9 Miscellaneous 101,875 113,788 210,881 221,058 122,018 157,227 175,992 53,974 44.2% 10 Sale of Assets 0 0 0 0 0 0 0 0 N/A 11 Transfers In 227,409 272,409 234,230 337,137 286,257 286,257 362,127 75,870 26.5% 12 Total Revenues & Other Financing Sources 5,082,380 5,741,910 5,742,058 5,824,060 6,570,044 3,771,394 6,724,860 154,816 2.4% EXPENDITURES & OTHER FINANCING USES: General Government: 12 Mayor & Council 25,544 26,576 25,544 26,986 25,544 18,153 25,894 350 1.4% 13 Administration 664,268 642,685 691,552 656,372 809,831 524,526 861,167 51,336 6.3% 14 Elections 15,400 364 24,617 23,313 24,692 1,424 28,998 4,306 17.4% 15 Assessing 104,316 102,019 172,500 121,737 172,500 95,064 172,500 0 0.0% 16 Planning & Zoning 191,094 181,959 206,624 210,507 213,117 118,487 223,471 10,354 4.9% 17 Comprehensive Plan 8,000 0 8,000 0 8,000 0 8,000 0 0.0% 18 Data Processing 90,704 92,164 101,000 95,124 104,000 72,816 106,500 2,500 2.4% 19 Police/Public Works Facility 79,500 61,504 87,800 95,170 89,300 69,845 97,700 8,400 9.4% 20 Municipal Building 58,800 42,774 56,400 42,822 59,800 33,897 61,800 2,000 3.3% 21 Unallocated 0 0 0 0 0 0 0 0 N/A 22 Total General Government 1,237,626 1,150,045 1,374,037 1,272,031 1,506,784 934,212 1,586,030 79,246 5.3% Public Safety: 23 Police 1,849,789 1,872,074 2,023,300 1,981,841 2,253,577 1,386,665 2,464,350 210,773 9.4% 24 Police Records Management 13,500 9,599 14,200 10,079 10,250 10,542 16,000 5,750 56.1% 25 Fire 408,130 422,484 441,448 458,167 476,281 327,581 625,927 149,646 31.4% 26 Building Inspections 329,479 458,271 441,953 633,972 482,466 140,496 516,680 34,214 7.1% 27 Emergency Management 5,800 6,574 6,050 4,688 6,250 4,364 7,625 1,375 22.0% 28 Total Public Safety 2,606,698 2,769,002 2,926,951 3,088,747 3,228,824 1,869,648 3,630,582 401,758 12.4% Public Works: 29 Public Works 743,356 665,432 793,619 802,273 840,377 607,099 883,681 43,304 5.2% 30 Sanitation & Recycling 26,539 14,601 25,322 8,039 24,102 7,136 24,716 614 2.5% 31 Total Public Works 769,895 680,033 818,941 810,312 864,479 614,235 908,397 43,918 5.1% Parks & Recreation: 32 Community Building 42,076 42,243 40,036 48,416 43,526 38,147 51,400 7,874 18.1% 33 Parks 186,341 185,585 231,241 211,036 252,764 171,162 281,759 28,995 11.5% 34 Total Parks & Recreation 228,417 227,828 271,277 259,452 296,290 209,309 333,159 36,869 12.4% 35 Transfers Out 239,744 504,000 205,081 447,174 218,667 112,718 166,692 (51,975)-23.8% 37 Transfer to Fire Facility 0 0 145,771 145,771 455,000 455,000 100,000 (355,000)-78.0% Total Transfers 239,744 504,000 350,852 592,945 673,667 567,718 266,692 (406,975)-60.4% 38 Total Expenditures & Other Financing Uses 5,082,380 5,330,908 5,742,058 6,023,487 6,570,044 4,195,122 6,724,860 154,816 2.4% EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER (UNDER) 39 EXPENDITURES AND OTHER FINANCING USES 0 411,002 0 (199,427)0 (423,728)0 0 N/A 1 Economic Development Housing, $68,632 , 1.02% Park and Recreation, $333,159 , 4.95%;---------------- Public Works, $908,397 I 13.51% Building lnspecti.o , $516,680 , 7 .68% Fire, $625,927 , 9.31% Future Fire Facility, $100,000 I 1.49% General Administration, $1,293,119 , 19.23% Planning & Zoning, $231,471 , 3.44% Facilities, -------$159,500 , 2.37% Police & Emergency Management, $2,487,975 I 37.00% 2024 Projected Expenditures $6,724,860 2 City of Medina Property Tax Levies 2024 Proposed Proposed Amount Percentage Pay Pay Increase Increase 2023 2024 (Decrease) (Decrease) 1 General Fund Levy 4,635,500 4,981,243 345,743 7.5% 2 Future Fire Facility 455,000 100,000 (355,000) -78.0% 3 4 Total General Fund Levy 5,090,500 5,081,243 (9,257) -0.2% 5 6 Debt Service & Capital Levies: 7 8 2012A G.O. Capital Improvement Bonds Public Works and Police Department Facility 364,791 362,943 (1,848) -0.5% 9 2015A G.O. Improvement Bonds - Tower Drive 60,155 60,304 149 0.2% 10 11 Total Other Debt Service 424,946 423,247 (1,699) -0.4% 12 13 Capital Levies: 14 15 Municipal Park Fund Levy 112,000 112,000 0 0.0% 16 Capital Road Fund Levy 61,000 61,000 0 0.0% 17 Capital Equipment Fund Levy 312,500 462,500 150,000 48.0% 18 19 Total Capital Levies 485,500 635,500 150,000 30.9% 20 21 Total Debt Service & Capital Levies 910,446 1,058,747 148,301 16.3% 22 23 Total Levies 6,000,946 6,139,990 139,044 2.3% 3 City of Medina 2024 Property Tax Levy Scenario Summary Actual Proposed Pay Pay 2023 2024 Property Tax Information: 1 Estimated Market Value Change (Taxable)N/A 9.7% 2 Estimated Tax Capacity Change (Taxable)N/A 10.5% 3 4 General Fund Levy $5,090,500 $5,081,243 5 % Change N/A -0.2% 6 7 Debt Service & Capital Levies $910,446 $1,058,747 8 % Change N/A 16.3% 9 10 Total Levy $6,000,946 $6,139,990 11 % Change N/A 2.3% 12 13 City Local Tax Capacity Rate 22.557% 20.958% 14 % Change N/A -7.1% 15 16 17 Estimated Property Taxes: 18 19 $700,000 Home With No Market Value Change $1,692 $1,572 20 % Change N/A -7.1% 21 22 $700,000 Home With 7.5% Market Value Increase $1,692 $1,709 23 % Change N/A 1.0% 24 25 $5,000,000 C/I Property With No Market Value Change $22,219 $20,644 26 % Change N/A -7.1% 27 28 $5,000,000 C/I Property With 7.5% Market Value Increase $22,219 $22,216 29 % Change N/A 0.0% 4 2015A G.O. Tower Dr 1mg, $60,304 , 0.98% Capital Road Fund Levy, $61,000 , 0.99% Future Fire Facilit� $100,000 , 1.63% 2012A G.O. PD/PW Facility, $362,943 , 5.91% Municipal Park Fund Levy, $112,000 , 1.82% Capital Equipment Fund Levy, $462,500, 7.53% General Fund Levy, $4,981,243 , 81.13% 2024 Projected Tax Levy $6,139,990 5 City of Medina 2024 Proposed Property Tax Scenario Residential Homesteads 2023 2024 2023-2024 Budget Proposed Change 1 City Tax Rate:22.557%20.958%-7.1% 2 3 General Fund Levy:$5,090,500 $5,081,243 ($9,257) 4 5 Debt Service & Capital Levies:$910,446 $1,058,747 $148,301 6 7 Total Levy:$6,000,946 $6,139,990 $139,044 8 9 Change in Total Levy:2.3% 10 11 2023 CITY PROPERTY TAXES 12 13 Homestead City Local City 14 Market Market Value Tax Tax Capacity Property 15 Value Exclusion Capacity Rate Taxes 16 2023 2023 2023 2023 2023 17 18 $100,000 ($28,200) $718 22.557% $162 19 $200,000 ($19,200) $1,808 22.557% $408 20 $300,000 ($10,200) $2,898 22.557% $654 21 $400,000 ($1,200) $3,988 22.557% $900 22 $500,000 $0 $5,000 22.557% $1,128 23 $600,000 $0 $6,250 22.557% $1,410 24 $700,000 $0 $7,500 22.557% $1,692 25 $800,000 $0 $8,750 22.557% $1,974 26 $900,000 $0 $10,000 22.557% $2,256 27 $1,000,000 $0 $11,250 22.557% $2,538 28 29 2024 CITY PROPERTY TAXES (WITH NO MARKET VALUE CHANGE) 30 31 Market Homestead City Local City Property Percentage 32 Value Market Value Tax Tax Capacity Property Taxes Tax 33 2022 Exclusion Capacity Rate Taxes Increase Increase 34 NO CHANGE 2024 2024 2024 2024 (Decrease) (Decrease) 35 36 $100,000 ($28,200) $718 20.958% $150 ($11) -7.1% 37 $200,000 ($19,200) $1,808 20.958% $379 ($29) -7.1% 38 $300,000 ($10,200) $2,898 20.958% $607 ($46) -7.1% 39 $400,000 ($1,200) $3,988 20.958% $836 ($64) -7.1% 40 $500,000 $0 $5,000 20.958% $1,048 ($80) -7.1% 41 $600,000 $0 $6,250 20.958% $1,310 ($100) -7.1% 42 $700,000 $0 $7,500 20.958% $1,572 ($120) -7.1% 43 $800,000 $0 $8,750 20.958% $1,834 ($140) -7.1% 44 $900,000 $0 $10,000 20.958% $2,096 ($160) -7.1% 45 $1,000,000 $0 $11,250 20.958% $2,358 ($180) -7.1% 46 47 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 48 49 Market 50 Value Homestead City Local City Property Percentage 51 2022 Market Value Tax Tax Capacity Property Taxes Tax 52 INCREASE OF Exclusion Capacity Rate Taxes Increase Increase 53 5.0%2024 2024 2024 2024 (Decrease) (Decrease) 54 55 $105,000 ($27,800) $772 20.958% $162 ($0) -0.1% 56 $210,000 ($18,300) $1,917 20.958% $402 ($6) -1.5% 57 $315,000 ($8,900) $3,061 20.958% $642 ($12) -1.9% 58 $420,000 $0 $4,200 20.958% $880 ($19) -2.2% 59 $525,000 $0 $5,313 20.958% $1,114 ($14) -1.3% 60 $630,000 $0 $6,625 20.958% $1,388 ($21) -1.5% 61 $735,000 $0 $7,938 20.958% $1,664 ($28) -1.7% 62 $840,000 $0 $9,250 20.958% $1,939 ($35) -1.8% 63 $945,000 $0 $10,563 20.958% $2,214 ($42) -1.9% 64 $1,050,000 $0 $11,875 20.958% $2,489 ($49) -1.9% 65 66 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 67 68 Market 69 Value Homestead City Local City Property Percentage 70 2022 Market Value Tax Tax Capacity Property Taxes Tax 71 INCREASE OF Exclusion Capacity Rate Taxes Increase Increase 72 7.5%2024 2024 2024 2024 (Decrease) (Decrease) 73 74 $107,500 ($27,600) $799 20.958% $167 $5 3.4% 75 $215,000 ($17,900) $1,971 20.958% $413 $5 1.3% 76 $322,500 ($8,200) $3,143 20.958% $659 $5 0.8% 77 $430,000 $0 $4,300 20.958% $901 $2 0.2% 78 $537,500 $0 $5,469 20.958% $1,146 $18 1.6% 79 $645,000 $0 $6,813 20.958% $1,428 $18 1.3% 80 $752,500 $0 $8,156 20.958% $1,709 $18 1.0% 81 $860,000 $0 $9,500 20.958% $1,991 $17 0.9% 82 $967,500 $0 $10,844 20.958% $2,273 $17 0.8% 83 $1,075,000 $0 $12,188 20.958% $2,554 $17 0.7% 6 City of Medina 2024 Proposed Property Tax Scenario Commercial/Industrial Properties 2023 2024 2023-2024 Budget Budget Change 1 City Tax Rate:22.557%20.958%-7.1% 2 3 General Fund Levy:$5,090,500 $5,081,243 ($9,257) 4 5 Debt Service & Capital Levies:$910,446 $1,058,747 $148,301 6 7 Total Levy:$6,000,946 $6,139,990 $139,044 8 9 Change in Total Levy:2.3% 10 11 2023 CITY PROPERTY TAXES 12 13 City Local City 14 Market Tax Tax Capacity Property 15 Value Capacity Rate Taxes 16 2023 2023 2023 2023 17 18 $1,000,000 $18,500 22.557% $4,173 19 $2,000,000 $38,500 22.557% $8,685 20 $3,000,000 $58,500 22.557% $13,196 21 $4,000,000 $78,500 22.557% $17,709 22 $5,000,000 $98,500 22.557% $22,219 23 $6,000,000 $118,500 22.557% $26,731 24 $7,000,000 $138,500 22.557% $31,242 25 $8,000,000 $158,500 22.557% $35,754 26 $9,000,000 $178,500 22.557% $40,265 27 $10,000,000 $198,500 22.557% $44,777 28 29 2024 CITY PROPERTY TAXES (WITH NO MARKET VALUE CHANGE) 30 31 Market City Local City Property Percentage 32 Value Tax Tax Capacity Property Taxes Tax 33 2022 Capacity Rate Taxes Increase Increase 34 NO CHANGE 2024 2024 2024 (Decrease) (Decrease) 35 36 $1,000,000 $18,500 20.958% $3,877 ($296) -7.1% 37 $2,000,000 $38,500 20.958% $8,069 ($616) -7.1% 38 $3,000,000 $58,500 20.958% $12,260 ($936) -7.1% 39 $4,000,000 $78,500 20.958% $16,452 ($1,257) -7.1% 40 $5,000,000 $98,500 20.958% $20,644 ($1,575) -7.1% 41 $6,000,000 $118,500 20.958% $24,835 ($1,895) -7.1% 42 $7,000,000 $138,500 20.958% $29,027 ($2,215) -7.1% 43 $8,000,000 $158,500 20.958% $33,218 ($2,535) -7.1% 44 $9,000,000 $178,500 20.958% $37,410 ($2,855) -7.1% 45 $10,000,000 $198,500 20.958% $41,602 ($3,175) -7.1% 46 47 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 48 49 Market 50 Value City Local City Property Percentage 51 2022 Tax Tax Capacity Property Taxes Tax 52 INCREASE OF Capacity Rate Taxes Increase Increase 53 5.0%2024 2024 2024 (Decrease) (Decrease) 54 55 $1,050,000 $19,500 20.958% $4,087 ($86) -2.1% 56 $2,100,000 $40,500 20.958% $8,488 ($197) -2.3% 57 $3,150,000 $61,500 20.958% $12,889 ($307) -2.3% 58 $4,200,000 $82,500 20.958% $17,290 ($418) -2.4% 59 $5,250,000 $103,500 20.958% $21,692 ($528) -2.4% 60 $6,300,000 $124,500 20.958% $26,093 ($638) -2.4% 61 $7,350,000 $145,500 20.958% $30,494 ($748) -2.4% 62 $8,400,000 $166,500 20.958% $34,895 ($858) -2.4% 63 $9,450,000 $187,500 20.958% $39,296 ($969) -2.4% 64 $10,500,000 $208,500 20.958% $43,697 ($1,079) -2.4% 65 66 2024 CITY PROPERTY TAXES (WITH MARKET VALUE INCREASE) 67 68 Market 69 Value City Local City Property Percentage 70 2022 Tax Tax Capacity Property Taxes Tax 71 INCREASE OF Capacity Rate Taxes Increase Increase 72 7.5%2024 2024 2024 (Decrease) (Decrease) 73 74 $1,075,000 $20,000 20.958% $4,192 $18 0.4% 75 $2,150,000 $41,500 20.958% $8,698 $13 0.1% 76 $3,225,000 $63,000 20.958% $13,204 $7 0.1% 77 $4,300,000 $84,500 20.958% $17,710 $1 0.0% 78 $5,375,000 $106,000 20.958% $22,216 ($4) 0.0% 79 $6,450,000 $127,500 20.958% $26,721 ($9) 0.0% 80 $7,525,000 $149,000 20.958% $31,227 ($15) 0.0% 81 $8,600,000 $170,500 20.958% $35,733 ($20) -0.1% 82 $9,675,000 $192,000 20.958% $40,239 ($26) -0.1% 83 $10,750,000 $213,500 20.958% $44,745 ($31) -0.1% 7 * School District #284 Wayzata * School District #879 Delano * School District #278 Orono *School District #883 Rockford ** Other includes various metro taxing districts, and other special taxing districts (excluding watershed) Medina Residents - Where did my 2023 tax dollar go? 8 MAJOR FUNDS 101 225 420 601 602 603 General Fund Park Dedication  Fund Road Fund Water Fund Sewer Fund Storm Water  Fund Fund Balance January 1, 2023 $5,374,395 $740,854 $647,435 $4,686,529 $2,102,468 $690,667 Fund Balance YTD $3,943,907 $820,794 $10,450 $5,155,626 $2,070,066 $663,936 DEBT SERVICE 1 319 322 323 324 2 DEBT SERVICE PRINCIPAL PAYMENTS 2020A G.O.  Refunding  (2012A) 2015A G.O.  Improvement  Bonds 2016A G.O.  Refunding  Bonds (2008A) 2020A G.O.  Refunding  (2017A) 3 9 2024 $360,000 $115,000 $185,000 $90,000 10 2025 $365,000 $115,000 $95,000 11 2026 $375,000 $115,000 $100,000 12 2027 $385,000 $115,000 $100,000 13 2028 $390,000 $115,000 $100,000 14 2029 $395,000 $115,000 $100,000 15 2030 $410,000 $120,000 $105,000 16 2031 $420,000 $120,000 $110,000 17 2032 $425,000 18 2033 $435,000 19 2034 $440,000 20 21 TOTAL REMAINING PRINCIPAL $4,400,000 $930,000 $185,000 $800,000 22 23 TOTAL OUTSTANDING DEBT PRINCIPAL $6,315,000 24 TOTAL OUTSTANDING DEBT INTEREST $552,008 25 26 TOTAL OUTSTANDING DEBT $6,867,008 City of Medina Debt Service Fund Balances Preliminary 2024 Budget 9 $1,674,378,864 $1,717,743,102 $1,808,002,261 $1,886,385,073 $2,007,765,450 $2,386,561,337 $2,618,444,455 $1,500,000,000 $1,700,000,000 $1,900,000,000 $2,100,000,000 $2,300,000,000 $2,500,000,000 $2,700,000,000 2018 2019 2020 2021 2022 2023 2024 MEDINA TAXABLE MARKET VALUE 11 $19,408,437 $19,932,533 $20,937,149 $22,032,437 $23,558,319 $28,234,063 $31,207,088 $15,000,000 $19,000,000 $23,000,000 $27,000,000 $31,000,000 2018 2019 2020 2021 2022 2023 2024 MEDINA TAX CAPACITY 10 $3,229,026 $3,325,897 $3,434,452 $3,731,800 $4,147,600 $5,090,500 $5,081,243 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 2018 2019 2020 2021 2022 2023 2024 MEDINA GENERAL FUND TAX LEVY 12 21.523%21.528% 22.492%22.467%22.596% 22.557% 20.958% 18.000% 19.000% 20.000% 21.000% 22.000% 23.000% 24.000% 25.000% 2018 2019 2020 2021 2022 2023 2024 MEDINA TAX RATE 13 Tax Levy Timeline Sept. 5, 2023 Nov. 2023 TNT = Truth in Taxation Dec. 5, 2023 14 2024 CIP: DEPARTMENT Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Potential Revenue Source Roads 1 Morgan Rd 20,000$ 10,000$ Road/Bonds/Assessments 2 Wild Meadows North 185,972$ 92,986$ Road/Bonds/Assessments 3 Wild Meadows South 290,153$ 145,077$ Road/Bonds/Assessments 4 Willow N. of 24 RECLAIM 570,000$ 455,000$ Road/Bonds/Assessments 5 Chestnut Rd 23,319$ 11,660$ Road/Bonds/Assessments 6 Morningside 317,000$ 158,500$ Road/Bonds/Assessments 7 Tamarack N of Medina to Blackfoot Overlay 54,000$ 43,200$ Road/Bonds/Assessments 8 Dusty Tr. & Deerhill 36,000$ 18,000$ Road/Bonds/Assessments 9 Willow S. of 24 168,000$ 134,400$ Road/Bonds/Assessments 10 Tamarack - Medina to 24 - Overlay 49,985$ 39,988$ Road/Bonds/Assessments 11 Tamarack City Limits to CSAH 24 Overlay 77,675$ 62,140$ Road/Bonds/Assessments 12 Cherry Hill 99,056$ 49,528$ Road/Bonds/Assessments 13 Sioux Drive - North of tracks 40,000$ 40,000$ Road/Bonds/Assessments 14 Meander Rd.225,523$ 180,418$ Road/Bonds/Assessments/MSA 15 South Frontage Rd 25,000$ 12,500$ Road/Bonds/Assessments 16 Bella-Terra 22,000$ 11,000$ Road/Bonds/Assessments 17 Tamarack/HWY 55 5,500,000$ -$ -$ Developer/Assessments 18 Evergreen Rd - West TBD TBD Road/Bonds/Assessments 19 Hunter Drive South 123,504$ 61,752$ Road/Bonds/Assessments 20 Hunter Drive North 111,449$ 55,725$ Road/Bonds/Assessments 21 Medina Road 389,332$ 194,666$ Road/Bonds/Assessments 22 Roads Sub-total 1,406,444$ 873,222$ 524,716$ 387,256$ 272,523$ 203,918$ 5,500,000$ -$ 624,285$ 312,143$ 23 24 Public Works 25 Trail Snow Removal Equipment 8,000$ 8,000$ Equipment Bonds/Cap Equip Fund 26 Water Truck Modify / Add Water Tank 20,000$ 20,000$ Equipment Bonds/Cap Equip Fund 27 F-350 Pickup w/ Plow 80,000$ 80,000$ Equipment Bonds/Cap Equip Fund 28 Skid Steer Upgrade w/ Bucket 5,000$ 5,000$ Equipment Bonds/Cap Equip Fund 29 Single Axel Truck 320,000$ 320,000$ Equipment Bonds/Cap Equip Fund 30 Tandem 425,000$ 425,000$ Equipment Bonds/Cap Equip Fund 31 Utility Tractor - Harley Rake 65,000$ 65,000$ Parks 32 Skid Steer - Replace 2003 85,000$ 85,000$ Equipment Bonds/Cap Equip Fund 33 Skid Loader Mill 30,000$ 30,000$ Parks 75% & Eqpt Bonds/Cap Eqp Fund 34 Ranger Replacement $35,000 $35,000 Parks 35 Addt'l pickup truck $80,000 $80,000 Parks 75% & Eqpt Bonds/Cap Eqp Fund 36 Utility Truck - Water/Sewer 100,000$ 100,000$ Water/Sewer Utility Fund 37 Case Loader Siingle Axle - Replacement 320,000$ 320,000$ Parks 75% & Eqpt Bonds/Cap Eqp Fund 38 F-550 & Plow - Replacement 100,000$ 100,000$ Equipment Bonds/Cap Equip Fund 39 Public Works Sub-total 433,000$ 433,000$ 605,000$ 605,000$ 215,000$ 215,000$ 420,000$ 420,000$ -$ -$ 40 41 Police 42 PD Squad Cars 110,000$ 110,000$ 165,000$ 165,000$ 110,000$ 110,000$ 165,000$ 165,000$ 165,000$ 165,000$ Equipment Bonds/Cap Equip Fund 43 Less Lethal 6,400$ 6,400$ One Time State Monies 44 Flock Cameras (ALR's)7,000$ 7,000$ DTF Forfeiture 45 Tasers 75,000$ 75,000$ One Time State Monies 46 Records Management 150,000$ 150,000$ Equipment Bonds/Cap Equip Fund 47 Squad Radios 55,000$ 55,000$ DWI Forfeiture Fund/Cap Equip 48 Miscellaneous 8,000$ 8,000$ 10,000$ 10,000$ 10,000$ 10,000$ 10,000$ 10,000$ DWI Forfeiture Fund/Cap Equip 49 Police Sub-total 131,400$ 131,400$ 390,000$ 390,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$ 50 51 Fire 60 West Suburban & Long Lake 61 Fire (West Suburban) - Exp 12/31/30 70,582$ 70,582$ 70,582$ 70,582$ 70,582$ Equipment Bonds/Cap Equip Fund Fire (Hamel Asset Payoff)80,000$ 80,000$ 62 Fire (Long Lake) - Exp 12/31/2025 11,000$ 11,000$ 11,000$ 11,000$ Equipment Bonds/Cap Equip Fund 63 Fire Sub-total -$ 161,582$ -$ 161,582$ -$ 81,582$ -$ 81,582$ -$ 70,582$ 64 65 Emergency Management 66 Siren Maintenance 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ 7,500$ Equipment Bonds/Cap Equip Fund 67 Civil Defense Sirens 30,000$ 30,000$ 30,000$ 30,000$ Revolving Cap. Impr. Fund 68 Civil Defense Sub-total 37,500$ 37,500$ 37,500$ 37,500$ 7,500$ 7,500$ 7,500$ 7,500$ -$ -$ 69 70 71 Administration/Data Processing 72 Vehicle Equipment Bonds/Cap Equip Fund 73 Administration Sub-total -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 74 75 City Buildings 76 City Hall Repairs/Renovation 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ Revolving Cap. Impr. Fund 77 Community Building Repairs 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ Revolving Cap. Impr. Fund 78 PW/Police Repairs/Renovations 10,000$ 10,000$ 10,000$ 10,000$ 15,000$ 15,000$ 10,000$ 10,000$ 15,000$ 15,000$ Revolving Cap. Impr. Fund 79 PW Entry Renovations/Training Room 250,000$ 250,000$ Revolving Cap. Impr. Fund 80 PW/Police Roof TBD TBD Revolving Cap. Impr. Fund 81 City Hall Roof TBD TBD Revolving Cap. Impr. Fund 82 City Buildings - Parking Lot 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ 20,000$ Revolving Cap. Impr. Fund 83 Future Fire District Buidling 12,000,000$ TBD Revolving Cap. Impr. Fund 84 City Building Sub-total 55,000$ 55,000$ 55,000$ 55,000$ 12,060,000$ 60,000$ 305,000$ 305,000$ 60,000$ 60,000$ 85 86 87 88 Water (high growth expectation) 89 Water Treatment Plant Expansion 2,663,000$ 2,663,000$ Future - Water Capital 90 Morningside Watermain 2,183,000$ TBD Water Utility/Capital/Assessments/Grant 91 Tamarack/Hwy55 Watermain 500,000$ TBD Future - Water Capital 92 Water Tower 2,600,000$ 2,600,000$ Future Water Cap (2020-2023) 93 Water Sub-total 4,846,000$ 2,663,000$ -$ -$ 2,600,000$ 2,600,000$ 500,000$ -$ -$ -$ 94 95 Sewer 96 I / I Maintenance 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ 100,000$ Sewer Capital Fund 2024 - 2028 Capital Improvement Plan 2024 20262025 2027 2028 1 2024 CIP: DEPARTMENT Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Project Cost City Proposed Portion Potential Revenue Source 2024 - 2028 Capital Improvement Plan 2024 20262025 2027 2028 County Road 29 Sewer Replacement 320,000$ 82,240$ Sewer Capital/Utility Fund 97 Sewer Vac Sewer Utility Fund 98 Willow Lift Station Sewer Capital Fund 99 Generator Replacements 50,000$ 50,000$ 50,000$ 50,000$ Sewer Utility Fund 100 Hunter/Hamel Rd Upsize 750,000$ 750,000$ Sewer Capital Fund 101 Sewer Sub-total 470,000$ 232,240$ 850,000$ 850,000$ 150,000$ 150,000$ 100,000$ 100,000$ -$ -$ 102 103 Storm Water 104 Painter's Creek/Morningside Ditch 360,000$ 120,000$ Storm Water Fund/Grants/MCWD 105 Storm Water Improvement Grant Match 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ 55,000$ Storm Water Fund/Grants/MCWD 106 Long Lake Creek 300,000$ 75,000$ Storm Water Fund/Grants/MCWD 107 Storm Water Sub-total 415,000$ 175,000$ 55,000$ 55,000$ 355,000$ 130,000$ 55,000$ 55,000$ -$ -$ 108 109 Municipal Park Replacements 110 Trails Municipal Park Fund 111 Annual Trail Replacement 30,000$ 30,000$ 30,000$ 30,000$ Municipal Park Fund 112 Clydesdale Trail Municipal Park Fund 113 Hamel Legion Park Municipal Park Fund 114 Holy Name Park Municipal Park Fund 115 Hunter Lions Park Municipal Park Fund 116 Full Park Reconstruction/Tennis Court 100,000$ 100,000$ Municipal Park Fund/Grants/Donations 117 Lakeshore Park Municipal Park Fund 118 Redesign/Shoreline Seeding 40,000$ 40,000$ Municipal Park Fund/Grants/Donations 119 Rainwater Nature Area Municipal Park Fund 120 Maple Park Municipal Park Fund 121 New baseball backstop 25,000$ 25,000$ Municipal Park Fund 122 Tennis/Pickle Ball Courts 25,000$ 25,000$ Municipal Park Fund 123 Walnut Park - Designate Raingarden 15,000$ 15,000$ Municipal Park Fund/Grants/Donations 124 85,000$ 85,000$ 130,000$ 130,000$ 50,000$ 50,000$ -$ -$ -$ -$ 125 126 New Park Development 127 Trails 128 Hackamore Trail 350,000$ 175,000$ Park Ded/Cost Share w/ Corcoran 129 Medina Road Trail 50,000$ 50,000$ Park Dedication Fund 130 Chippewa Park Trail Connection 80,000$ 80,000$ Park Dedication Fund 131 Townline Road Trail Park Dedication Fund 132 Medina Lake Preserve Park Dedication Fund 133 Clean-up/Development (woods)25,000$ 25,000$ Park Dedication Fund 134 Trail Head & Pavillion 25,000$ 25,000$ Park Dedication Fund 135 Hamel Legion Park Park Dedication Fund 136 Grand Stand at Paul Fortin Field Hamel Athletic Club 137 Chippewa Park (Scherber Land)Park Dedication Fund 138 Planning Design 35,000$ 35,000$ Park Dedication Fund 139 Nursery Stock 2,000$ 2,000$ Park Dedication Fund 140 Playground Equipment 750,000$ 750,000$ Park Dedication Fund 141 Shawnee Woods - Entrance Sign Park Dedication Fund 142 Maple Park Park Dedication Fund 143 Pickleball Courts 100,000$ 100,000$ Park Dedication Fund 144 Land Acquisitions / New Trails (rolling-used as development occurs)Park Dedication Fund 145 Parks Sub-total 387,000$ 212,000$ 130,000$ 130,000$ 150,000$ 150,000$ 750,000$ 750,000$ -$ -$ 146 147 TOTAL:8,266,344$ 5,058,944$ 2,777,216$ 2,801,338$ 16,035,023$ 3,823,000$ 7,812,500$ 1,894,082$ 859,285$ 617,725$ 2