HomeMy WebLinkAboutFinancial Analysis of City Funds December 31, 1993 •
O TAUTGES, REDPATH & C0., LTD.
CERTIFIED PUBL IC A CCOUN TA N TS
February 11, 1994
Judy Holst, Finance Director
City of Oak Park Heights
14168 N. 57th Street
Stillwater, MN 55082
Dear Judy:
The purpose of this letter is to summarize the results of our review and analysis of the financial
condition of the various funds of the City at December 31, 1993. Our review and analysis requires
several cash transfers to effect the intent of the City Council. City Council action is required to
effect these interfund cash transfers at December 31, 1993.
GENERAL FUND
Our preliminary review /analysis of the General Fund at December 31, 1993 indicates an excess
of revenues over expenditures for 1993 totaling approximately $140,000. The major portion of
this increase should be retained within the General Fund as designated reserves, as follows:
December 31,
Description 1992 1993 Change
ReservewDesignations:
Cash flow $639,000 $661,000 $22,000
Employee benefits 142,000 166,000 24,000
General contingency 252,000 267,000 15,000
Capital improvements:
Street reconstruction 10,472 27,982 17,510
Other.
Consolidation Study 11,000 11,000
Totals $1,043,472 $1,132,982 $89,510
An estimated $50,000 can be transferred to the City's Capital Improvements Fund. This
amount should be recorded as a cash transfer at December 31, 1993. City Council action is
required to effect this cash transfer.
4810 White Bear Parkway • White Bear Lake, Minnesota 55110 • 612/426 -7000 • FAX /426 -5004 • Member of HLB International
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Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 2
Our discussion last Friday raised a question in my mind as to amounts being received from the
City of Bayport for your City providing inspections for their building permits. You are coding
these receipts under "building permits." I do not believe this to be correct. The City of Bayport is
issuing and collecting its own building permits. If Oak Park Heights is doing the actual inspection,
this should be receipted as a charge for service. You may wish to set up a separate account to
monitor such income separate from other charges for service.
DEBT SERVICE FUNDS
The City made final principal and interest payments on three bond issues in 1993.
Accordingly, these bond accounts may be closed and the remaining assets may be transferred for
other City Council designated purposes:
Cash/ Due From
Bond Issue Investments County
1982 $24,049 $240
1983 13,983 3
1987 216,921 0
Totals $254,953 $243
We recommend that each of the above debt service accounts be closed at December 31, 1993
and that the remaining assets be transferred to the Closed Bond Fund in accordance with
established City policy. City Council action is required to effect such final closing and related
transfers of cash and other remaining assets.
The City Debt Service Fund for its 1991 Water and Sewer Revenue Bonds/1993 Refunding
Bonds is the recipient of connection charges assessed against several property owners. The storm
sewer portion of these A.A.E. - Connection Charges should be transferred to the A.A.E. - Storm
Sewer Connection Charge Fund at December 31, 1993. The amount to be so transferred is
$11,842.86. City Council action is required to effect this cash transfer.
e
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 3
wed Bond Fund
During 1984, the City established the Closed Bond Fund. Initial financing for this fund was
provided through the residual balances of closed (or defeased) special assessment bond funds of
the City. A summary of transactions from inception is as follows:
Prior 1993 Total Projected
Description Yeats Preliminary 12/31/93 1994
FINANCING SOURCES:
Transfers In:
1960's Bond Issues $345,901 $345,901
1970's Bond Issues 211,894 211,894
1980's Bond Issues 1,764 $254,953 256,717
Construction Funds 24,288 956 25,244
General Property Taxes 1,833 $5 1,838
Special Assessments 244,142 66,325 310,467 $11,600
Connection Charges - Old 145,013 1,650 146,663
Escrow Interest Earnings 3,207 118 3,325
Investment Interest 404730 12,349 417,079 13,000
TOTAL FINANCING SOURCES $1,382,772 $80,447 $255,909 1,719,128 24,600
FINANCING USES:
Transfers Out/Expenditures
General Fund $22,100 22,100
Capital Improvement Fund 200,000 200,000
Professional Services 50,524 $6,310 56,834
Construction Funds:
Other City Projects 163,899 163,899
AAE - Storm Sewer 360,000 (90,000) 270,000
AAE - Streets 235,000 106,067 (315,450) 25,617
Temporary Loan:
Street*'MN Dot 610,000 610,000 (610,000)
TOTAL FINANCING USES $1,031,523 $112,377 $204,550 1,348,450 (610,000)
FUND BALANCE - December 31, 1993 $370,678
PROJECTED FUND BALANCE - December 31, 1994 $1,005,278
t
s
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 4
The preliminary fund balance of the Closed Bond Fund was $319,379 at December 31, 1993
representing a small decrease during 1993. The recommended fund balance (after deducting the
$610,000 interfund loan) will be $370,678. This balance should increase to approximately
$1,000,000 in 1994 after the City receives its $631,594 from MN Dot for the Norell project.
River Hills (Herita 1 st Addition
This project was started in 1989. Financing is provided by the developer under a letter of
credit arrangement. The following schedule s ummariz es the past financial activity for this project:
Actual Preliminary Preliminary
1989-1992 1993 Totals
FINANCIAL RESOURCES:
Developer Charges $261,925 $2,038 $263,963
Cash Transfers: 0
A.A.E. Connection Charges 0
Storm Sewer 17,211 17,211
Investment Earnings 437 519 956
TOTAL FINANCIAL RESOURCES $279,573 $2,557 282,130
CONSTRUCTION COSTS:
Contractors $202,829 202,829
Engineering, Testing, etc. 55,518 $3,044 58,562
Legal and Fiscal 3,836 2,092 5,928
Other Costs 179 179
TOTAL CONSTRUCTION COSTS $262,362 $5,136 267,498
PRELIMINARY FUND BALANCE - December 31,1993 $14,632
Judy Hoist, Finance Director
City of Oak Park Heights, Minnesota
Page 5
This project is 100% developer financed except fa trunk storm sewer costs totaling $17,211
which have been financed by a cash transfer of A.A.E. - Storm Sewer Connection Charges. Any
balance remaining at the Completion of this project should be transferred to the River Hills
(Heritage) - 2nd Addition project which was started in 1993.
The following cash transfers are recommended to be effected at December 31, 1993:
Fund Amount
Closed Bond Fund - Interest Earnings $955.58
River Hills - 2nd Addition - Balance 13,676.81
Totals $14,632.39
City Council action is required to effect the above cash transfers and the closing of this project.
Vallev Point 2nd Addition
Financing for the Valley Point 2nd Addition Project was provided by the $300,000 G.O.
Improvement Bonds of 1990. The following schedule summarizes the past financial activity for
this project:
Actual Preliminary
1990-1992 1993 Totals
FINANCIAL RESOURCES:
Bond Proceeds -1990 S.A. Bonds $256,057 $256,057
Cash Transfers:
Closed Bond Fund 30,000 30,000
Investment Earnings 4,040 $270 4,310
TOTAL FINANCIAL RESOURCES $290,097 $270 290,367
CONSTRUCTION COSTS:
Contractors $209,077 $26,268 235,345
Engineering, Testing, etc. 42,217 3,031 45,248
Legal and Fiscal 4,889 2,000 6,889
Land/Right of Way 1,550 1,550
Other Costs 192 192
TOTAL CONSTRUCTION COSTS $257,925 $31„299 289,224 , , , „ , , „ , „ ,
PRELIMINARY FUND BALANCE - December 31, 1993 $1,143
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 6
This project was complete at December 31, 1993. The cash transfer from the Closed Bond
Fund was necessary to finance a storm sewer change order unrelated to the original developer's
project. This fund should be closed at December 31, 1993 and the remaining balance should be
transferred to the Debt Service Fund for the Improvement Bonds of 1990. Council action is
required to effect this fund closing and related cash transfer.
A.A.E. - 1991 Utility Imnrovementa
This fund was established in 1991 to account for the City's first A.A.E. construction project
which includes the City's second water tower and sanitary sewer and water facilities along
Highway 36. The following schedule summarizes the past financial activity for this project:
Actual Preliminary
1991-1993 1993 Totals
FINANCIAL RESOURCES:
Bond Proceeds - 1991 Revenue Bonds $1,149,805 $1,149,805
Cash Transfers:
Water and sewer operations 75,000 75,000
Investment Earnings 28,815 $352 29,167
TOTAL FINANCIAL RESOURCES $1,253,620 $352 1,253,972
CONSTRUCTION COSTS:
Contractors $970,615 $5,426 976,041
Engineering, Testing, etc. 134,097 9,192 143,289
Legal and Fiscal 36,272 3,750 40,022
Land/Right of Way 93,189 93,189
Other Costs 2,379 88 2,467
TOTAL CONSTRUCTION COSTS $1,236,552 $18,456 1,255,008
PRELIMINARY FUND BALANCE/(DEFICIT) - December 31,1993 ($1,036)
This project was complete at December 31, 1993. This fund should be closed and the
remaining deficit should be transferred from the City's Water and Sewer Operating Fund. City
Council action is required to effect this fund closing and related cash transfer.
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 7
A.A.E. - Wal - Mart Addition
This fund was established in 1992 to account for the Wal -Mart addition construction project
which includes A.A.E. - Sanitary Sewer, Water Works and Storm Sewer Trunk facilities plus
lateral facilities and streets. The following schedule summarizes the past financial activity for this
project:
Actual Preliminary
1992 1993 Totals
FINANCIAL RESOURCES:
Developer Charges:
Wal -Mart $171,900 ($1,239) $170,661
A.A.E. Connection Charges:
Storm Sewer (Wal -Mart) 45,000 45,000
Closed Bond Fund 35,000 35,000
Investment Earnings 3,899 1,307 5,206
TOTAL FINANCIAL RESOURCES $255,799 $68 255,867
CONSTRUCTION COSTS:
Contractors $176,463 $1,164 177,627
Engineering, Testing, etc. 52,655 3,161 55,816
Legal and Fiscal 3,602 3,195 6,797
Land/Right of Way 1,840 1,840
Other Costs 636 636
TOTAL CONSTRUCTION COSTS $235,196 $7,520 242,716
PRELIMINARY FUND BALANCE - December 31,1993 $13,151
This project was complete at December 31, 1993 and the developer was refunded $1,239 as
part of land acquisition payments. This project should be closed at December 31, 1993 and the
remaining balance should be trans ferred hack to the A.A.E. - Storm Sewer Connection Charge
Fund ($3,768.38) and the Closed Bond Fund ($9,382.65). City Council action is required to
effect this fund closing and related cash transfers.
The assets of the A.A.E. - Wal Mart project include a developer deposit in the amount of
$18,680 for Plan A Improvements to be completed by the developer and inspected by the City
Engineer. Such inspection should be completed in the spring of 1994. Any additional engineering
fees should be financed by this developer deposit.
r
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 8
A.A.E. - HiWchool Improvements
This fund was established in 1992 to account for the high school construction project which
includes A.A.E. - Storm Sewer Trunk facilities. A second phase to the high school development
project (58th Street Improvements) is accounted for in a separate fund. The following schedule
summarizes the past and projected financial activity for this project:
Preliminary Projected Projected
1992-1993 1994 Totals
FINANCIAL RESOURCES:
A.A.E. Connection Charges:
Storm Sewer (I.S.D. #834) $289,348 $289,348
Cash Transfers:
Closed Bond Fund 360,000 360,000
Investment Earnings 9,883 9,883
TOTAL FINANCIAL RESOURCES $659,231 $0 659,231
CONSTRUCTION COSTS:
Contractors $459,676 459,676
Engineering, Testing, etc. 64,443 64,443
Legal and Fiscal 8,430 10,000 18,430
Land/Right of Way 13,080 85,000 98,080
Other Costs 3,759 3,759
TOTAL CONSTRUCTION COSTS $549,388 $95,000 644,388
PROJECTED FUND BALANCE - December 31, 1994 $14,843
This project was substantially complete at December 31, 1993 and should be fully completed in
1994. The cash transfer from the Closed Bond Fund was necessary because of the scope of this
project which represents approximately 35% of the 1989 original budget for storm sewer trunk
facilities. Future A.A.E. Connection charges (from future development) should replace this
financing. After completion (or December 31, 1994) this fund should be closed and any remaining
balance /(deficit) should be transferred to /from the City's Closed Bond Fund. City Council action
is required to effect this fund closing and related cash transfer. This project should be left open at
December 31, 1993 pending legal action relating to land acquisition.
S
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 9
A.A.E. - Norell Avenue/MN DO 1MVEQyemen1a
This fund was established in 1992 to account for a MN DOT modification to the Wal -Mart
construction project in the form of a revised connection of Norell Avenue to State Highway 36.
The following schedule summarizes the past and projected financial activity for this project:
Preliminary Projected Projected
1992-1993 1994 Totals
FINANCIAL RESOURCES:
State - MN DOT $631,594 $631,594
Cash Transfers:
Closed Bond Fund 610,000 ($610,000) 0
TOTAL FINANCIAL RESOURCES $1,241,594 ($610,000) 631,594
CONSTRUCTION COSTS:
Contractors $250,812 250,812
Engineering, Testing, etc. 19,792 19,792
Legal and Fiscal 12,409 $3,000 15,409
Land/Right of Way 325,854 325,854
TOTAL CONSTRUCTION COSTS $608,867 $3,000 611,867
PROJECTED FUND BALANCE - December 31, 1994 $19,727
This project was substantially complete at December 31, 1993 and should be fully completed in
1994. The cash transfer from the Closed Bond Fund was necessary to provide financing above the
initial State -MN Dot commitment. The State - MN DOT commitment in the amount of $631,594
will not be received until 1994. Accordingly, this project is in a substantial cash overdraft at
December 31, 1993. We recommend that the $200,000 cash transfer from the Closed Bond Fund
be re- characterized to a $610,000 interfund loan. This loan can be repaid (with interest) after
receipt of the $631,594 from the State. City Council action is required to effect this change.
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 10
A.A.E. - 5 8th Street Im nrovemenla
This fund was established in 1992 to account for the second phase of the high school
construction project which includes A.A.E. - Sanitary Sewer, Water Works and Storm Sewer
Trunk facilities plus street construction from the high school site to State Highway 5. The
following schedule summarizes the past and projected financial activity for this project:
December 31, 1993 Proiected
Preliminary Recommended 1994 Totals
FINANCIAL RESOURCES:
Developer Charges (I.S.D. #834) $344,384 $344,384 $344,384
A.A.E. Connection Charges:
Sanitary Sewer (I.S.D. #834) 158,479 160,000 160,000
Water Works (I.S.D. #834) 145,000 145,000 145,000
Sotrm Sewer - Add 1. 21,827 0
Cash Transfers:
Closed Bond Fund 106,067 (90,000) (90,000)
Water and Sewer Operations 95,000 125,000 125,000
Investment Earnings 6,537 6,537 6,537
TOTAL FINANCIAL RESOURCES $877,294 $690,921 $0 $690,921
CONSTRUCTION COSTS:
Contractors $516,615 $516,615 $23,385 540,000
Engineering, Testing, etc. 89,670 89,670 4,677 94,347
Legal and Fiscal 11,692 11,692 7,000 18,692
Land/Right of Way 30,486 30,486 30,486
Other Costs 230 230 230
TOTAL CONSTRUCTION COSTS $648,693 $648,693 $35,062 683,755
PROJECTED FUND BALANCE - December 31, 1994 $7,166
The initial and secondary financing for this project were based upon cost estimates indicating
the major portion of such costs to be for street construction. Accordingly, A.A.E. - Storm Sewer
Connection Charges and Closed Bond Fund reserves were committed to the completion of this
project.
r
a
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 11
Current cost estimates (at 95% completion) indicate a different picture. Sanitary Sewer and
Waterworks represent 63% of total costs. Streets and storm sewers account for only 38% of the
total. Accordingly, the overall financing for this project can be shifted away from streets and storm
sewer sources and towards sanitary sewer and waterworks sources. The following changes are
recommended:
1. Additional cash transfer fiun A.A.E. - Sanitary Sewer $1,521.40
2. Eliminate/reverse the previous cash transfer from A.A.E. - Storm Sewer (21,827.00)
3. Additional cash transfer from water and sewer operations 30,000.00
4. Eliminate/reverse the previous cash transfer from the Closed Bond Fund (106,067.00)
5. Transfer excess street financial resources from this project to the Closed
Band Fund (90,000.00)
Total adjustments/transfers ($186,372.60)
All of the above transfers should be recorded at December 31, 1993. City Council action is
required to effect such cash transfers.
r
s
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 12
A.A.E. - Connection Charges
A major element to the financing or improvements in the A.A.E. section of the City is A.A.E.
connection charges levied against new development. The following schedule summarizes the
1991, 1992 and 1993 financial activity for the City's A.A.E. Connection Charge Funds:
A.A.E. Connection Charges
Sanitary Water Storm
Description Sewer Works Sewer Totals
1991 AND 1992 ACTUAL:
River Hills - 1st Addition:
Heritage - Partial $12,022 $19,621 $15,242 $46,885
E Ludowese 1,538 2,472 1,996 6,006
Less: Amounts used for construction:
River Hills -1st Addition (30,942) (29,739) (13,757) (74,438)
Valley Point - 2nd Addition (17,211) (17,211)
Highway 36 Improvements:
Various 10,339 17,983 22,785 51,107
Less: amounts assessed (7,617) (13,249) (16,786) (37,652)
Wal -Mart Development
Wal -Mart 49,543 86,172 109,182 244,897
Less: credit for ponding area (36,394) (36,394)
amounts assessed (10,792) (19,084) (16,120) (45,996)
amount used for construction (45,000) (45.000)
School District Improvements:
I.S.D. #834 - Partial 27,885 180,899 289,348 498,132
Less: amounts used for construction (27,885) 0 (289,348) (317,233)
Investment Earnings 1,693 2,891 2,430 7,014
Cash Transfers:
Debt Service -1991 Bonds (17,500) (118,000) 0 (135,500)
FUND BALANCE - December 31, 1992 8,284 129,966 6,367 144,617
1993 PROJECTED:
Rives Hills - 1st Addition:
Heritage 13,436 21,930 17,035 52,401
Highway 36 Improvements:
1993 Prepayment 1,561 2,716 3,441 7,718
School District Improvements:
I.S.D. #834 - Final 173,488 224,442 0 397,930
Less: amounts used for construction (132,115) (145,000) 0 (277,115)
Cash Transfers:
Debt Service -1991 Bonds (10,000) (55,000) 11,843 (53,157)
Construction - Wal -Mart 3,768 3,768
Investment Earnings 953 5,609 352 6,914
RECOMMENDED BALANCE - December 31,1993 $55,607 $184,663 $42,806 $283,076
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 13
The preceding projections for 1993 include the completion and full financing of all A.A.E.
construction projects approved by the City Council through December 31, 1993.
The projected balance at December 31, 1993 is committed for future debt service payments for
the City's Refunding Bonds of 1993. Such future commitments (cash transfers) are as follows:
Sanitary Water
Year Sewer Works Total
1994 $10,000 $55,000 $65,000
1995 15,000 80,000 95,000
1996 20.000 100,000 120,000
1997 20,000 105,000 125,000
1998 20,000 105,000 125,000
1999 20,000 105,000 125,000
2000 20,000 115,000 135,000
2001 20,000 120,000 140,000
2002 20,000 125,000 145,000
2003 30,000 135,000 165,000
2004 5,000 50,000 55,000
Totals $200,000 $1,095,000 $1,295,000
The 1993 cash transfers - 1991/93 bonds should be effected by December 31, 1993. The
$11,842.86 storm sewer transfer represents a cash transfer from the Debt Service Fund to the
Connection Charge Fund. City Council action is required to effect these cash transfers.
Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 14
For your convenience (and that of the City Council), the following schedule is designed to
summarize the previously recommended cash transfers and interfund loan:
1) From the General Fund ( #101);
A. To the Capital Improvement Fund - $50,000 (1993 Budget Reserve)
2) From the Closed B ond Fund ( #500)1
A. To the Norell Avenue Fund - $610,000 (Temporary Interfund Loan)
3) From the Bond of 1982 Fund ( #518):
A. To the Closed Bond Fund - $24,049.29 (Final Maturity Debt Reserve)
4) From the Bon of 198 Fund ( #519),
A. To the Closed Bond Fund - $13,982.56 (Final Maturity Debt Reserve)
5) From the Bonds of 1987 Fund ( #5211.1
. A. To the Closed Bond Fund - $216,920.77 (Final Maturity Debt Reserve)
6) From the River Hills - 1st Ad dition Fund ( #522):
A. To the Closed Bond Fund - $955.58 (Interest Earnings)
B. To the River Hills - 2nd Addition - $13,676.81 (Transfer Developer Deposit to Second
Phase)
7) From the Vallev Point - 2nd Addition Fund ( #56&
A. To the 1990 Bonds Debt Service - $1,143.38 (Transfer Construction Balance to Debt
Service)
8) From the Water and Sewer (Iterations Fund (#U2),
A. To the 58th Street Improvement Fund - $30,000 (Financing of Sewer and Water
Facilities)
B. To the 1991 Utility Improvements - $1,035.97 (Final Project Financing)
9) From the 1993 Refunding Debt Service Fund ( #7M;.
A. To the A.A.E. - Storm Sewer Connection Charges - $11,842.86 (Reclassify Storm
Sewer Connection Charges)
10) From the Wal -Mart Addition Fund ( #714):
A. To the Closed Bond Fund - $9,382.65 (Reduce Past (1992) Project Financing)
B. To the A.A.E. - Storm Sewer Fund - $3,768.38 (Reduce Past (1992) Project
Financing)
11) From the Norell &&aU2/MN Dot Fund ( #7 L45L
A. To the Closed Bond Fund - $200,000 (Recharacterize Past (1992) Cash Transfer)
. Judy Holst, Finance Director
City of Oak Park Heights, Minnesota
Page 15
12) From the 58th Street Imma vement Fund ( #717):
A. To the Closed Bond Fund - $106,067 (To Eliminate Past (1993) Project Financing)
B. To the A.A.E. - Storm Sewer Fund - $21,827 (To Eliminate Past (1993) Project
Financing)
C. To the Closed Bond Fund - $90,000 (To Transfer Excess Street Financing)
13) From the A.A.E. - Saaitary Sewer Fund ( #
A. To the 58th Street Improvement Fund - $1,521.40 (Increased Sanitary Sewer
Financing)
B. To the 1993 Bonds Debt Service Fund - $10,000 (1995 Debt Service Requirements)
14) From the A.A.E. - Watermain Fund ( #772L
A. To the 1993 Bonds Debt Service Fund - $55,000 (1995 Debt Service Requirements)
The preceding data represents a summary of our efforts over the past month. I hope that I have
detailed the December 31, 1993 transfers sufficiently. I am enclosing copies of my analysis sheets
for your assistance and information. If you have any questions, please do not hesitate to call.
Sincerely,
TAUTGES, REDPATH & CO., LTD.
Robert J. Voto, CPA
RJV /clg
c: AAE - Overall Financial Plan File
Audit Staff
CITY OF OAK PARK HEIGHTS
GENERAL FUND ANALYSIS /. YEAR -END DATA
ACTUAL ACTUAL PRELIM. INCREASE
DESCRIPTION 1991 1992 1993 DECREASE
ASSETS:
CASH / INVESTMENTS 1,000,965 929,559 1,167,355 237,796
ACCOUNTS REC.- REFUSE / UTILITY 17,627 17,739 30,393 12,654
ACCOUNTS REC- -OTHER 356 11,431 11,075 OK PER JUDY- 2/4/94
ACCOUNTS REC.- CERTIFIED 940 40 40 0
DUE FROM OTHER GOVMT. 3,469 3,850 2,682 -1,168
TAXES REC:
DELINQUENT 32,692 36,804 36,804 0
DUE FROM COUNTY 30,856 117,716 22,132 - 95,584 OK PER JUDY- 2/4/94
TOTAL ASSETS 1,086,549 1,106,064 1,270,837 164,773
LIABILITIES:
ACCOUNTS PAYABLE 45,971 47,835 74,829 26,994 OK PER JUDY- 2/4/94
SALARIES PAYABLE 3,947 5,233 2,697 -2,536
DUE TO SANITATION 0 -1,686 -1,686
DUE TO OTHER GOVMT. 415 2,730 2,611 -119
DEFERRED REVENUE 35,165 36,844 36,844 0
TOTAL LIABILITIES 85,498 92,642 115,295 22,653
EQUITY:
UNRESERVED / DESIGNATED:
CASH FLOW 577,100 639,000 661,300 22,300 BUDGET INCREASE
EMPLOYEE BENEFITS 117,800 142,000 166,000 24,000 OK PER JUDY- 2/4/94
GENERAL CONTINGENCY 228,600 252,000 267,000 15,000 BUDGET INCREASE
ENSUING YESR'S BUDGET 2,500 0 0 0
CAPITAL IMPROV. 0 10,472 27,982 17,510 STREET RECON.
CONSOLIDATION STUDY 0 0 11,000 11,000 L. T. PAYABLE
UNRESERVED / UNDESIGNATED: 75,051 - 30,050 - 27,740 2,310
TOTAL EQUITY 1,001,051 1,013,422 1,105,542 92,120
TOTAL LIAB. & EQUITY 1,086,549 1,106,064 1,220,837 114,773
GENERAL FUND RESERVES:
CASH FLOW:
1993/94 TAX LEVY ® 50 % 1,322,615 50% 661,308
GENERAL CONTINGENCY:
1994 GEN. FUND BUDGET 15 % 1,780,000 15% 267,000
CAPITAL IMPROVEMENT:
EXCESS T IF 1991 2,473
1992 10,472
1993 15,037 27,982
TR Co 2/8/94 5:03 PM Page 1 GENERAL.XLS
CITY OF OAK PARK HEIGHTS
GENERAL FUND ANALYSIS /. YEAR -END DATA
ACTUAL ACTUAL PRELIM. BUDGET BUDGET
DESCRIPTION 1991 1992 1993 1993 VAR-
REVENUE:
GEN. PROPERTY TAX:
CURRENT & DELINQUENT 1,057,578 1,108,949 1,247,429 1,223,952 23,477
EXCESS T I F ( 1992= 1991 & 1992) N/A 12,945 15,037 0 15,037
SPECIAL ASSESSMENTS 0 5,286 0 5,286
INTERGOVERNMENTAL:
STATE:
H A C A 4,611 36,740 54,358 54,358 0
POLICE AID 31,651 32,432 33,516 31,000 2,516
COUNTY:
RECYCLING GRANT 14,679 16,077 14,490 14,340 150
GRAVEL TAX 459 478 0 0 0
OTHER 60 1,467 6,120 6,250 -130
LICENSES & PERMITS 122,804 93,908 79,372 87,220 -7,848
CHARGES FOR SERVICES:
REFUSE COLLECTION 64,721 68,152 103,039 98,800 4,239
OTHER 2,248 550 2,665 2,000 665
ADMIN.- UTILITY FUND 57,000 78,000 80,000 80,000 0
FINES & FORFEITS 36,174 38,557 44,189 39,150 5,039
INTEREST ON INVESTMENTS 51,983 33,728 25,180 23,000 2,180
REFUNDS & REIMBURSEMENTS 15,852 21,349 26,277 5,600 20,677
DONATIONS & CONTRIBUTIONS 0 1,500 1,500 0
SALE OF PROPERTY 595 385 2,632 1,240 1,392
TOTAL REVENUE 1,460,415 1,543,717 1,741,090 1,668,410 72,680
EXPENDITURES:
MAYOR & COUNCIL 101,395 99,781 34,348 36,880 -2,532
ELECTIONS 0 16,080 0 0 0
CITY CLERK 123,777 152,112 155,346 157,190 -1,844
PLANNING & ZONING 24,219 6,500 7,211 10,000 -2,789
MUNICIPAL BUILDING 17,327 13,859 18,734 19,900 -1,166
ASSESSOR 9,051 10,436 10,173 10,500 -327
ENGINEERING 11,860 5,259 7,738 8,000 -262
GENERAL MANAGEMENT 37,862 43,113 136,404 134,460 1,944
POLICE DEPT. 517,688 552,381 556,311 604,565 48,254
BUILDING INSPECTIONS 48,694 71,387 71,950 74,610 -2,660
FIRE PROTECTION 18,979 15,986 30,809 31,000 -191
ANIMAL CONTROL 2,887 4,586 2,224 2,650 426
STREETS & ALLEYS 27,156 25,522 20,498 20,800 -302
SNOW & ICE REMOVAL 45,014 18,770 27,947 26,000 1,947
STREET LIGHTING 34,114 37,689 41,196 41,200 4
ARBORIST 1,544 1,657 1,658 1,725 -67
REFUSE COLLECTION 248,806 251,121 297,452 296,000 1,452
TREE REMOVAL & PLANTING 14,032 16,436 14,972 15,000 -28
PARKS, PLAYGROUNDS, & RINKS 141,240 164,321 160,578 163,630 -3,052
CONTINGENCY 0 0 3,421 15,000 - 11,579
TOTAL EXPENDITURES 1,425,645 1,506,996 1,598,970 1,669,110 - 70,140
EXCESS / DEFICIANCY 34,770 36,721 142,120 -700 142,820
OTHER:
TRANSFER -FROM CAPITAL PROJECT 0 25,650 0 0 0
TRANSFER -TO CAPITAL PROJECT - 100,000 - 50,000 - 50,000 0 - 50,000
NET INCREASE/ DECREASE - 65,230 12,371 92,120 -700 92,820
TR Co 2/8/94 5:03 PM Page 2 GENERAL.XLS
CITY OF OAK PARK HEIGHTS
CLOSED BOND FUND -500
PROJ.
1984- ACTUAL ACTUAL ACTUAL PRELIM. RECOM. PROJ. PROJ. PROJ. PROD. BAL.
DESCRIPTION 1989 1990 1991 1992 1993 1993 1994 1995 1996 1997 12/31/97
FINANCING SOURCES:
TRANSFERS IN:
1960'S BOND ISSUES 345,901 345,901
1970'S BOND ISSUES 211,894 211,894
1980'S BOND ISSUES 1,764 0 254,953 256,717
CONSTRUCTION FUNDS 0 5,443 18,845 956 25,244
GENERAL PROPERTY TAXES 1,807 26 0 5 1,838
SPECIAL ASSESSMENTS 98,149 18,840 37,616 89,537 66,325 11,600 10,900 8,100 3,700 344,767
CONNECTION CHARGES -OLD 93,269 10,950 38,394 2,400 1,650 146,663
ESCROW INTEREST EARNINGS 0 3,070 137 118 3,325
INVESTMENT INTEREST 255,648 59,120 51,056 38,906 12,349 417,079
INTERFUND LOAN INTEREST 0 0 0
INVEST. INTER. -PROJ. @ 4% 13,005 40,429 42,426 44,360 140,220
TOTAL FINANCING SOURCES 1,008,432 94,353 149,007 130,980 80,447. 255,909 24,605 51,329 50,526 48,060 1,893,648
FINANCING USES:
TRANSFERS OUT/ EXPEND.:
GENERAL FUND 22,100 22,100
CAP. IMPROV. FUND 200,000 200,000
PROFESSIONAL SERVICES 4,980 8,882 9,040 27,622 6,310 56,834
CONSTRUCTION FUNDS: 0
OTHER CITY PROJECTS 44,634 37,288 51,977 30,000 0 163,899
A. A. E. - -SAN. SEWER 0 0
A. A. E. -WATER WORKS 0 0
A. A. E. -STORM SEWER 0 360,000 - 90,000 0 270,000
A. A. E.- STREETS 0 35,000 106,067 - 115,450 0 0 0 0 25,617
A. A. E.- STREETS -MNDOT 0 200,000 - 200,000 0
TEMPORARY LOAN
A A E.-- STREETS -MNDOT 610,000 - 610,000 0
0
TOTAL FINANCING USES 271,714 46,170 61,017 652,622 112,377 204,550 - 610,000 0 0 0 738,450
EXCESS /DEFICIANCY 736,718 48,183 87,990 - 521,642 - 31,930 51,359 634,605 51,329 50,526 48,060 1,155,198
FUND BALANCE -DEC. 31 , 736,718 784,901 872,891 351,249 319,319 370,678 1,005,283 1,056,612 1,107,139 1,155,198
TR Co 2/10/94 3:16 PM Page 1 FD- 500.XLS
AMOUNTS USED FOR A A E. PURPOSES
TOTAL
1984— ACTUAL ACTUAL ACTUAL PRELIM. RECOM. PROJ. PROJ. PROJ. PROJ. A A E.
DESCRIPTION 1989 1990 1991 1992 1993 1993 1994 1995 1996 1997 USES
FINANCING USES:
TRANSFERS OUT/ EXPEND.:
A A E. —SAN. SEWER:
0
0
0
A A E. —WATER WORKS:
0
0
0
A A E. —STORM SEWER:
SCHOOL DISTRICT IMPROV. 360,000 - 90,000 270,000
0
0
A A E.— STREETS: 0
WAL -MART IMPROV. 35,000 -9,383 25,617
SCHOOL DIST. / 58 TH. STREET 106,067 •106,067 0
A A E.— STREETS— MNDOT:
NORELL AVE. / MNDOT 200,000 - 200,000 0
0
TEMPORARY LOAN
A A E.— STREETS —MNDOT 610,000 - 610,000 0
0
TOTAL A A E. USES 0 0 0 595,000 106,067 204,550 - 610,000 0 0 0 295,617
TR Co 2/10/94 3:16 PM Page 2 FD- 500.XLS
CITY OF OAK PARK HEIGHTS
$1,250,000 G. O. WATER / SEWER REVENUE BONDS OF 1991, AND:
$1,140,000 G. O. CROSSOVER REFUNDING BONDS OF 1993
A A E —TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
YEAR DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
BOND ISSUE ALLOCATED 160,000 855,000 235,000 0 1,250,000
PERENT TO TOTAL 12.80% 68.40% 18.80% 0.00 100.00%
rrrrsssss« ssrsssrrssssasssrrs««s rs sssss« sssrrrsss«« sarss« gsrsrsssssrwssss «sssrrrssss «ssss
1991 BOND PROCEEDS 88,216.47 88,216.47
INVESTMENT EARNINGS 2,903.29 2,903.29
DEBT SERVICE - INTEREST - 45,322.08 - 45,322.08
BALANCE - 12/31/91 0.00 0.00 0.00 45,797.68 0.00 45,797.68
1992 SPECIAL ASSESS. ( HWY. 36 IMPROV. )
WAL -MART 32,103.00
32,103.00
HAASE 125,815.22 125,815.22
CASH TRANSFERS —A. A. E 17,500.00 118,000.00 135,500.00
INVESTMENT EARNINGS 897.62 1,280.83 2,178.45
1991 REVENUE BOND ISSUE:
INTEREST - 4,121.36 - 22,036.39 - 5,077.57 - 46,459.68 - 77,695.00
DEBT SERVICE -FEES - 618.83 - 618.83
BALANCE - 12/31/92 13,378.64 95,963.61 153,738.27 0.00 0.00 263,080.52
1993 SPECIAL ASSESS. ( HWY. 36 IMPROV.)
PRINCIPAL 15,598.94
15,598.94
INTEREST 5,849.60 5,849.60
SPECIAL ASSESS. (CONN. CHARGES)
PREPAYMENTS ( WAL MART) 5,952.39 10,525.88 0.00 8,990.35 25,468.62
PRINCIPAL 1,079.20 1,908.40 1,630.00 4,617.60
INTEREST 809.40 1,431.31 1,222.51 3,463.22
CASH TRANSFERS —A. A. E 10,000.00 55,000.00 0.00 - 11,842.86 53,157.14
INVESTMENT EARNINGS 405.00 2,997.00 4,697.80 0.00 8,099.80
PROCEEDS — REFUNDING ISSUE —NET 1,108,104.86 1,108,104.86
CASH FROM CITY TO ESCROW - 2,350.54 2,350.54 0.00
INVESTMENT EARNINGS — ESCROW 29,189.37 29,189.37
1991 REVENUE BOND ISSUE:
PRINCIPAL 0.00 0.00 - 50,000.00 - 50,000.00
INTEREST - 10,251.50 - 54,813.50 - 12,630.00 - 77,695.00
1993 REFUNDING BOND ISSUE:
INTEREST - 34,553.33 - 34,553.33
DEBT SERVICE -FEES - 560.31 - 560.31
BALANCE - 12/31/93 21,373.13 113,012.70 114,343.76 0.00 1,105,091.44 1,353,821.03
1994 SPECIAL ASSESS. ( HWY. 36 IMPROV. )
PRINCIPAL 15,598.94 15,598.94
INTEREST 4,679.68 4,679.68
SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 1,211.14 2,106.58 2,669.10 5,986.82
INTEREST 454.18 789.97 1,000.91 2,245.06
CASH TRANSFERS —A. A. E 10,000.00 55,000.00 3,697.54 - 3,697.54 65,000.00
INVESTMENT EARNINGS 3% 756.20 3,960.24 3,820.70 27.53 8,564.67
INVESTMENT EARNINGS — ESCROW 44,416.42 44,416.42
1991 REVENUE BOND ISSUE:
PRINCIPAL 0.00 - 55,000.00 - 55,000.00
INTEREST - 10,251.50 - 54,813.50 - 10,080.00 - 75,145.00
1993 REFUNDING BOND ISSUE:
INTEREST - 51,830.00 - 51,830.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/94 23,543.15 120,055.99 77,060.62 0.00 1,097,677.86 1,318,337.62
TR Co 2/8/94 2:58 PM Page 1 FD- 703.)I.S
CITY OF OAK PARK HEIGHTS
$1,250,000 G. 0. WATER/ SEWER REVENUE BONDS OF 1991, AND:
$1,140,000 G. O. CROSSOVER REFUNDING BONDS OF 1993
A A E —TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
YEAR DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
1995 BALANCES BROUGHT FOREWARD 23,543.15 120,055.99 77,060.62 0.00 1,097,677.86 1,318,337.62
1995 SPECIAL ASSESS. ( HWY. 36 IMPROV.)
PRINCIPAL 15,598.94 15,598.94
INTEREST 3,509.76 3,509.76
SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 1,211.14 2,106.58 2,669.10 5,986.82
INTEREST 363.34 631.98 800.73 1,796.05
CASH TRANSFERS —A. A. E 15,000.00 80,000.00 3,495.85 - 3,495.85 95,000.00
INVESTMENT EARNINGS 3% 820.62 4,170.35 2,664.56 26.02 7,681.55
INVESTMENT EARNINGS — ESCROW 44,152.15 44,152.15
1991 REVENUE BOND ISSUE:
PRINCIPAL 0.00 - 55,000.00 - 1,090,000.00 - 1,145,000.00
INTEREST - 10,251.50 - 54,813.50 - 7,192.50 - 72,257.50
1993 REFUNDING BOND ISSUE:
INTEREST - 51,830.00 - 51,830.00
DEBT SERVICE -FEES 000
PROJECT. BAL.- 12/31/95 30,686.75 152,151.40 40,137.23 0.00 0.01 222,975.39
1996 SPECIAL ASSESS. ( HWY. 36 IMPROV. )
PRINCIPAL 15,598.94
15,398.94
INTEREST 2,339.84
2,339.84
SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 1,211.14 2,106.58 2,669.10 5,986.82
INTEREST 272.51 473.98 600.55 1,347.04
CASH TRANSFERS —A. A. E 20,000.00 100,000.00 3,294.17 - 3,294.17 120,000.00
INVESTMENT EARNINGS 3% 1,014.71 5,029.42 1,515.96 24.52 7,584.61
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 2,000.00 - 13,000.00 -60,000.00 - 75,000.00
INTEREST - 7,798.00 - 41,302.00 - 2,730.00 - 51,830.00
DEBT SERVICE -FEES 000
PROJECT. BAL.- 12/31/96 43,387.11 205,459.38 156.14 0.00 0.01 249,002.64
1997 SPECIAL ASSESS. ( HWY. 36 IMPROV. )
PRINCIPAL 15,598.94 15,598.94
INTEREST 1,169.92
1,169.92
SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 1,211.14 2,106.58 1,083.63 2,669.10 7,070.45
INTEREST 181.67 315.99 400.36 898.02
CASH TRANSFERS —A. A. E 20,000.00 105,000.00 - 2,612.28 - 3,092.48 119,295.24
INVESTMENT EARNINGS 3% 1,414.32 6,727.79 173.65 23.02 8,338.78
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 10,000.00 - 55,000.00 - 15,000.00 - 80,000.00
INTEREST - 7,726.00 - 40,834.00 - 570.00 49,130.00
DEBT SERVICE -FEES 000
PROJECT. BAL.- 12/31/97 48,468.24 223,775.74 0.00 0.00 0.01. 272,243.99
TR Co 2/8/94 2:58 PM Page 2 FD- 703.)LS
CITY OF OAK PARK HEIGHTS
$1,250,000 G. 0. WATER/ SEWER REVENUE BONDS OF 1991, AND:
$1,140,000 G. O. CROSSOVER REFUNDING BONDS OF 1993
A A E -TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
YEAR DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
1998 BALANCES BROUGHT FOREWARD 48,468.24 223,775.74 0.00 0.00 0.01 272,243.99
1998 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 1,211.14 2,106.58 2,669.10 5,986.82
INTEREST 90.84 157.99 200.18 449.01
CASH TRANSFERS-A_ A. E 20,000.00 105,000.00 0.00 - 2,890.80 122,109.20
INVESTMENT EARNINGS 3% 1,572.27 7,295.20 0.00 21.52 8,888.99
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 14,000.00 - 71,000.00 - 85,000.00
INTEREST - 7,346.00 - 38,744.00 - 46,090.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/98 49,996.49 228,591.51 0.00 0.00 0.01 278,588.01
1999 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00
0.00
INTEREST 0.00
0.00
CASH TRANSFERS -A. A. E 20,000.00 105,000.00 0.00 125,000.00
INVESTMENT EARNINGS 3% 1,602.75 7,406.79 0.00 0.00 9,009.54
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 14,000.00 - 76,000.00 - 9Q000
INTEREST - 6,786.00 - 35,904.00 - 42,690.00
DEBT SERVICE -FEES 000
PROJECT. BAL- 12/31/99 50,813.24 229,094.30 0.00 0.00 0.01 279,907.55
2000 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00
0.00
INTEREST 0.00
0.00
CASH TRANSFERS -A. A. E 20,000.00 115,000.00 0.00 135,000.00
INVESTMENT EARNINGS 3% 1,623.88 7,399.95 0.00 0.00 9,023.83
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 15,000.00 - 80,000.00 - 95,000.00
INTEREST -6,198.00 - 32,712.00 - 38,910.00
DEBT SERVICE -FEES 000
PROJECT. BAL- 12/31/00 51,239.12 238,782.25 0.00 0.00 0.01 290,021.38
2001 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00
0.00
INTEREST 0.00
0.00
CASH TRANSFERS -A. A. E 20,000.00 120,000.00 0.00 140,000.00
INVESTMENT EARNINGS 3% 1,632.70 7,666.19 0.00 0.00 9,298.89
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 16,000.00 - 84,000.00 - 100,000.00
INTEREST - 5,553.00 - 29,272.00 - 34,825.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/01 51,318.82 253,176.44 0.00 0.00 0.01 304,495.27
TR Co 2/8/94 2:58 PM Page 3 FD- 703.XI.S
CITY OF OAK PARK HEIGHTS
$1,250,000 G. 0. WATER/ SEWER REVENUE BONDS OF 1991, AND:
$1,140,000 G. O. CROSSOVER REFUNDING BONDS OF 1993
A A E -TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
YEAR DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
2002 BALANCES BROUGHT FOREWARD 51,318.82 253,176.44 0.00 0.00 0.01 304,495.27
2002 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00 0.00
INTEREST 0.00 0.00
CASH TRANSFERS -A. A E 20,000.00 125,000.00 0.00 145,000.00
INVESTMENT EARNINGS 3% 1,635.39 8,102.71 0.00 0.00 9,738.10
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 19,000.00 - 101,000.00 - 120,000.00
INTEREST - 4,833.00 - 25,492.00 - 30,325.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/02 49,121.21 259,787.15 0.00 0.00 0.01 308,908.37
2003 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00 0.00
INTEREST 0.00 0.00
CASH TRANSFERS -A. A. E 30,000.00 135,000.00 165,000.00
INVESTMENT EARNINGS 3% 1,563.23 8,264.57 0.00 0.00 9,827.80
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 20,000.00 - 105,000.00 - 125,000.00
INTEREST - 3,959.00 - 20,846.00 - 24,805.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/03 56,725.44 277,205.72 0.00 0.00 0.01 333,931.17
2004 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00 0.00
INTEREST 0.00 0.00
CASH TRANSFERS -A. A. E 5,000.00 50,000.00 55,000.00
INVESTMENT EARNINGS 3% 1,786.75 8,769.23 0.00 0.00 10,555.98
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 22,000.00 - 118,000.00 - 140,000.00
INTEREST - 2,999.00 - 15,806.00 - 18,805.00
DEBT SERVICE -FEES 0
PROJECT. BAL- 12/31/04 38,513.19 202,168.95 0.00 0.00 0.01 240,682.15
2005 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00 0.00
INTEREST 0.00 0.00
CASH TRANSFERS -A. A. E 0.00 0.00 0.00
INVESTMENT EARNINGS 3% 1,236.89 6,489.13 0.00 0.00 7,726.02
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 25,000.00 - 130,000.00 - 155,000.00
INTEREST - 1,899.00 - 9,906.00 - 11,805.00
DEBT SERVICE -FEES 0
PROJECT. BAL- 12/31/05 12,851.08 68,752.08 0.00 0.00 0.01 81,603.17
TR Co 2/8/94 2:58 PM Page 4 FD- 703.XLS
CITY OF OAK PARK HEIGHTS
$1,250,000 G. O. WATER / SEWER REVENUE BONDS OF 1991, AND:
` $1,140,000 G. O. CROSSOVER REFUNDING BONDS OF 1993
A A E- -TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
YEAR DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
2006 BALANCES BROUGHT FOREWARD 12,851.08 68,752.08 0.00 0.00 0.01 81,603.17
2006 SPECIAL ASSESS. (CONN. CHARGES)
PRINCIPAL 0.00 0.00
INTEREST 0.00 0.00
CASH TRANSFERS -A. A. E - 648.85 4,728.90 - 5,377.75
INVESTMENT EARNINGS 3% 421.77 2,252.82 0.00 0.00 2,674.59
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 12,000.00 -63,000.00 - 75,000.00
INTEREST - 624.00 - 3,276.00 - 3,900.00
DEBT SERVICE -FEES 0.00
PROJECT. BAL- 12/31/06 0.00 0.00 0.00 0.00 0.01 0.01
SUMMARY ( 1991 -2006 )
A A E -TRUNK FACILITIES REFUNDING
SAN. WATER ESCROW
DESCRIPTION SEWER WORKS LATERALS OTHER ACCOUNT TOTALS
BOND PROCEEDS 88,216.47 88,216.47
PROCEEDS - REFUNDING ISSUE -NET 1,108,104.86 1,108,104.86
CASH FROM CITY TO ESCROW - 2,350.54 2,350.54 0.00
SPECIAL ASSESS. (HWY. 36 IMPROV. )
PREPAYMENTS 157,918.22 157,918.22
PRINCIPAL 77,994.70 77,994.70
INTEREST 17,548.80 17,548.80
SPECIAL ASSESS. (CONN. CHARGES)
PREPAYMENTS 5,952.39 10,525.88 0.00 8,990.35 25,468.62
PRINCIPAL 7,134.90 12,441.30 1,083.63 14,975.50 35,635.33
INTEREST 2,171.94 3,801.22 0.00 4,225.24 10,198.40
CASH TRANSFERS -A. A. E 226,851.15 1,263,271.10 7,875.28 - 28,313.70 1,469,683.83
INVESTMENT EARNINGS 4% 17,486.48 86,531.39 13,770.29 4,306.73 122,094.89
INVESTMENT EARNINGS - ESCROW 117,757.94 117,757.94
1991 REVENUE BOND ISSUE:
PRINCIPAL 0.00 0.00 - 160,000.00 0.00 - 1,090,000.00 - 1,250,000.00
INTEREST - 34,875.86 - 186,476.89 - 34,980.07 - 91,781.76 0.00 - 348,114.58
1993 REFUNDING BOND ISSUE:
PRINCIPAL - 169,000.00 - 896,000.00 - 75,000.00 0.00 0.00 - 1,140,000.00
INTEREST - 55,721.00 - 294,094.00 - 3,300.00 0.00 - 138,213.33 491,328.33
DEBT SERVICE -FEES 0.00 0.00 - 560.31 - 618.83 0.00 - 1,179.14
PROJECT. BAL- 12/31/96 0.00 0.00 0.00 0.00 0.01 0.01
TR Co 2/8/94 2:58 PM Page 5 FD- 703.XLS
CITY OF OAK PARK HEIGHTS
RIVER HILLS 1ST. ADD. - CONSTRUCTION COSTS ,
ACTUAL ACTUAL ACTUAL ACCR. EST. TO EST.
DESCRIPTION 1989/91 1992 1993 12/31/93 FINISH TOTALS
FINANCING PROVIDED:
DEVELOPER AGREEMENT:
HERITAGE 207,862 43,242 12,859 0 0 263,963
DEF. REV. / REFUND PAYABLE 0 0
A.A.E.-CONNECTION CHARGES
RELATED TO OVERSIZING COSTS -
PER CITY ENGINEER
STORM SEWER 17,211 17,211
TRANSFER INTEREST EARNINGS TO
CLOSED BOND FUND 0 0
INVESTMENT INTEREST 437 0 519 0 956
TOTAL FINANCING 208,299 60,453 13,378 0 0 282,130
CONSTRUCTION COSTS:
CONTRACTERS:
KNUTSON 154,984 37,305 10,540 202,829
DRAINAGE 0
ENGINEERING, TESTING, ETC.
BONESTRO 47,884 5,389 3,324 56,597
OTHERS 1,671 294 0 1,965
LEGAL AND FISCAL:
ECKBERG , LAMMERS 2,082 2,082
TAUTGES , REDPATH 852 0 2,000 2,852
N. W. ASSOC. CONSULT. 647 255 92 994
OTHER COSTS:
PRINTING / PUBLISHING 179 179
0
TOTAL CONSTRUCTION 208,299 43,243 15,956 0 0 267,498
EXCESS/ - DEFICIANCY 0 17,210 -2,578 0 0 14,632
FUND BALANCE -DEC. 31, 0 17,210 14,632 14,632 14,632
NOTE: THIS PROJECT IS A DEVELOPER PROJECT - HERITAGE DEVELOPEMENT.
ANY BALANCE WILL BE REFUNDED TO THE DEVELOPER OR TRANSFERRED
TO PHASE 2.
PHASE 2 OF THIS DEVELOPEMENT ( 2ND. ADD.) WAS STARTED IN 1993. -SEE FUND 564
LAST DISBURSEMENT WAS 9/93
CLOSE INTEREST TO CLOSED BOND FUND 955.58
CLOSE BALANCE OF DEVELOPER DEPOSIT
TO 2 ND. ADDITION -FUND 564 13,676.81
TOTAL 14,632.39
TR Co 2/8/9412:23 PM Page I FD- 522.JQS
CITY OF OAK PARK HEIGHTS
RIVER HILLS 2ND. ADD. - CONSTRUCTION COSTS
ACTUAL ACCR. EST. TO EST.
DESCRIPTION 1993 12/31/93 FINISH TOTALS
FINANCING PROVIDED:
DEVELOPER AGREEMENT:
HERITAGE / B F HOLDING CO. 140,069.87 0.00 68,550.23 208,620.10
TRANSFER FROM 1ST. ADDITION 13,676.81 13,676.81
DEF. REV. / REFUND PAYABLE - 7,367.33 - 7,367.33
AAE.- CONNECTION CHARGES
RELATED TO OVERSIZING COSTS -
PER CITY ENGINEER
SANITARY SEWER 0.00 0.00
WATERWORKS 0.00 0.00
STORM SEWER 0.00 0.00
INVESTMENT INTEREST 7.51 0.00 7.51
TOTAL FINANCING 153,754.19 - 7,367.33 0.00 0.00 68,550.23 214,937.09
CONSTRUCTION COSTS:
CONTRACTERS:
INLAND LML CONSTR. 117,484.00 6,183.35 57,000.20 180,667.55
ENGINEERING, TESTING, ETC.
BONESTRO 18,878.57 696.54 8,550.03 28,125.14
OTHERS 1,949.40 1,949.40
LEGAL AND FISCAL:
ECKBERG, LAMMERS 890.50 890.50
TAUTGES , REDPATH 0.00 3,000.00 3,000.00
N. W. ASSOC. CONSULT. 118.50 118.50
OTHER COSTS:
PRINTING / PUBLISHING 186.00 186.00
0.00
TOTAL CONSTRUCTION 139,506.97 6,879.89 0.00 0.00 68,550.23 214,937.09
EXCESS/ - DEFICIANCY 14,247.22 - 14,247.22 0.00 0.00 0.00 0.00
FUND BALANCE -DEC. 31, 14,247.22 0.00 0.00 0.00 0.00
NOTE: THIS PROJECT IS A DEVELOPER PROJECT - HERITAGE DEVELOPEMENT.
ANY BALANCE WILL BE REFUNDED TO THE DEVELOPER
PHASE 1 OF THIS DEVELOPEMENT (1ST. ADD.) WAS STARTED IN 1989.
SEE FUND 522 AND THE ABOVE 1993 CASH TRANSFER
TR Co 2/894 12:31 PM Page 1 FD- 564-QS
CITY OF OAK PARK HEIGHTS
VALLEY POINT 2ND. ADD. - CONSTRUCTION COSTS
ACTUAL ACTUAL ACTUAL ACCR. EST. TO EST.
DESCRIPTION 1990/91 1992 1993 12/31/93 FINISH TOTALS
FINANCING PROVIDED:
BOND PROCEEDS -1990 BONDS 256,057 256,057
TRANSFER FROM CLOSED BOND
FUND -PER JOE A.-COUNCIL
APPROVED CHANGE ORDER- OK -PER
STORM SEWER COSTS 30,000 30,000 JOE A
5/11/93
TRANSFER TO DEBT SERVICE
TO CLOSE CONSTRUCTION -1,143 -1,143 OK
INVESTMENT INTEREST 3,763 277 270 0 4,310
TOTAL FINANCING 259,820 30,277 -873 0 0 289,224
CONSTRUCTION COSTS:
CONTRACTEILS:
KNUTSON 209,077 -3,000 29,268 235,345
ENGINEERING, TESTING, ETC.
BONESTRO 37,545 955 3,419 41,919
T. C. TESTING 2,204 0 2,204
OTHERS 1,040 85 1,125
LEGAL AND FISCAL:
ECKBERG, LAMMERS 1,844 190 2,034
TAUTGES , REDPATH 0 2,000 2,000
BOND ISSUANCE COSTS 2,855 2,855
LAND AQUISTTION / EASEMENTS:
LUDOWERE 1,550 1,550
OTHER COSTS:
PRINTING / PUBLISHING 192 192
0
0
0
TOTAL CONSTRUCTION 256,307 -1,770 34,687 0 0 289,224
EXCESS/ - DEFICIANCY 3,513 32,047 - 35,560 0 0 0
FUND BALANCE DEC. 31, 3,513 35,560 0 0 0
LAST CASH PAYMENT -7/93
PROJECT COMPLETE PER JOE A- 2/2/94
REVIEW W / JUDY -0K 2/4/94
S / B READY TO CLOSE TO DEBT FUND AT 12/31 /93
TR Co 2/8/94 12:52 PM Page 1 FD- 563,NLS
CITY OF OAK PARK HEIGHTS
VALLEY POINT 2ND. ADD. - CONSTRUCTION COSTS
COMPARISON OF CITY ENGINEERS COST ESTIMATES
AT 10/3/92 AND 2/23/93
CITY
EST. FINAL FINAL
DESCRIPTION 10/3/92 2/23/93 CHANGE COST
KNUTSON CONTRACT:
A. SAN. SEWER 71,318 71,318 0 71,318
B. WATER MAIN 50,334 50,334 0 50,334
C. HOUSE SERVICES 18,739 18,739 0 18,739
D. STORM SEWER 13,379 13,379 0 13,379
E. STREETS 53,085 53,085 0 53,085
#1 WATER / STREETS 2,222 2,222 0 2,222
CONTINGENCY ® 5 % 10,500 0 - 10,500 0
#2 STORM SEWER 0 26,269 26,269 26,269
TOTALS 219,577 235,345 15,769 235,345
ENGIN, FISCAL, & ADMIN.
23.64 51,903 55,636 3,732 53,848
CAPITALIZED INTEREST 29,283 16,082 - 13,201 39,694
GRAND TOTALS 300,763 307,063 6,300 328,887
FINANCIAL REQUIREMENTS
DEVELOPER - KRONGARD 209,615 209,615 0 209,615
LUDOWESE 16,710 16,710 0 16,710
RIVER HILLS- OVERSIZING:
SAN. SEWER 30,942 30,942 0 30,942
WATER 29,739 29,739 0 29,739
STORN SEWER 13,757 13,757 0 13,757
STORM SEWER -
CHANGE ORDER 0 6,300 6,300 30,000
GRAND TOTALS 300,763 307,063 6,300 330,763
CONSTRUCTION FUND 30,000
DEBT SERVICE FUND 300,763
TOTAL 330,763
TR Co 2/8/94 12:52 PM Page 2 FD- 563JaS
CITY OF OAK PARK HEIGHTS
SPEC, ASSESS. BONDS OF 1990
ACTUAL ACTUAL ACTUAL ACTUAL PROD. PROD.
DESCRIPTION 1990 1991 1992 1993 1994 TOTALS
FINANCING PROVIDED:
BOND PROCEEDS -1990 BONDS 39,694 39,694
VALLEY POINT DEVELOPEMENT:
PREPAYMENTS 38,800 77,600 48,500 164,900
ASSESSED -PRIN. 44,715 0 44,715
ASSESSED- INTEREST 3,353 0 3 ,353
A.A.E.- CONNECTION CHARGES
RELATED TO OVERSIZING COSTS
ALONG / WITHIN OAKGREEN STREET:
SANITARY SEWER 30,942 30,942
WATERWORKS 29,739 29,739
STORM SEWER 13,757 13,757
LUDOWESE:
ASSESSED -PRIM. 0 16,710 16,710
ASSESSED- INTEREST 0 2,507 2,507
TRANSFER TO DEBT SERVICE
TO CLOSE CONSTRUCTION 1,143 1,143
INVESTMENT INTEREST 1,020 6,945 6,915 6,530 21,410
PROJECTED @ 4% 3,949 3,949
TOTAL FINANCING 79,514 84,545 129,853 55,741 23,165 372,818
DEBT SERVICE:
BOND PRINCIPAL 50,000 125,000 125,000 300,000
BOND INTEREST 22,837 19,575 16,375 8,250 67,037
FEES 1,108 687 1,000 2,795
0
TOTAL DEBT SERVICE 0 22,837 70,683 142,062 134,250 369,832
EXCESS /- DEFICIANCY 79,514 61,708 59,170 - 86,321 - 111,085 2,986
FUND BALANCE -DEC. 31, 79,514 141,222 200,392 114,071 2,986
TR Co 2/8/94 12:52 PM Page 3 FD- 563.}Q S
CITY OF OAK PARK HEIGHTS
1991 UTILITY IMPROVEMENTS-CONSTRUCTION COSTS
ACTUAL ACTUAL ACTUAL ACCRUALS EST. TO EST.
DESCRIPTION 1991 1992 1993 12/31/93 FINISH TOTALS
FINANCING PROVIDED:
BOND PROCEEDS -1991 BONDS 1,149,805.00 1,149,805.00
TRANSFER FROM -WATER A SEWER
OPERATING RESERVES 75,000.00 1,035.97 76,035.97
INVESTMENT INTEREST 24,658.99 4,156.24 351.62 0.00 29,166.85
TOTAL FINANCING 1,174,463.99 79,156.24 1,387.59 0.00 0.00 1,255,007.82
CONSTRUCTION COSTS:
CONTRACTERS:
MILLER EXCAVATING 12,378.09 0.00 12,378.09
PITT -DES MOINES 514,842.00 79,039.20 16,118.80 610,000.00
KNUTSON 285,918.15 44,906.65 22,837.91 353,662.71
ENGINEERING, TESTING, ETC.
BONESTRO 106,490.88 12,200.74 9,999.54 128,691.16
AEC 6,752.00 579.00 7,331.00
OTHERS 5,828.20 1,438.99 7,267.19
LEGAL AND FISCAL:
ECKBERG, LAMMERS 4,871.05 3,250.50 50.00 8,171.55
TAUTGES , REDPATH 2,673.00 3,948.75 3,272.25 1,000.00 0.00 10,894.00
BOND ISSUANCE COSTS 20,956.40 20,956.40
LAND AQUISITION:
KRUGER 60,000,00 60,E 00
VAR. EASEMENTS 29,439.65 29,439.65
APPRAISAL FEES 3,750.00 3,750.00
OTHER COSTS:
N. W. ASSOC. CONSULTANTS 67.50 67.50
PRINTING / PUBLISHING 553.38 40.50 593.88
TREE REMOVAL 1,785.00 1,785.00
OTHER 19.69 19.69
0.00
0.00
TOTAL CONSTRUCTION 1,026,798.15 174,843.98 52,365.69 1,000.00 0.00 1,255,007.82
EXCESS/ - DEFICIANCY 147,665.84 - 95,687.74 - 50,978.10 - 1,000.00 0.00 0.00
FUND BALANCE -DEC. 31 147,665.84 51,978.10 1,000.00 0.00 0.00
LAST PAYMENT -7/93 EXCEPT FOR A 51,000. CHARGE BY T.R. @ 12/31/93
SHOULD BE ABLE TO CLOSE THIS FUND AT 12/31/93 TRANSFER FROM UTILITY.
TR Co 218/94 12:59 PM Page 1 FL- 713 -%MS
CITY OF OAK PARK HEIGHTS
1991 UTILXI Y IMPROVEMENTS—COST ALLOCATION
A. A. E. A. A. E. LAND
SAN. WATER RIGHT
DESCRIPTION SEWER WORKS LATERALS OF WAY TOTALS
CONSTRUCTION COST ALLOCATION:
CONTRACTERS:
PITT -DES MOINES 610,000.00 610,000.00
MILLER EXCAVATING 12,378.09 12,378.09
KNUTSON—SEE FINAL PAY. 0.00
SANITARY SEWER 19,349.00 87,012.00 106,361.00
WATER LINES 33,410.00 110,494.00 143,904.00
LIFT STATION 103,398.00 103,398.00
LAND / RIGHT OF WAY
KRUGER 60,000.00 60,000.00
VAR EASEMENTS 14,719.83 14,719.82 29,439.65
APPRAISAL FEES 1,875.00 1,875.00 3,750.00
DIRECT ALLOCATION ITEMS 139,341.83 732,382.91 197,506.00 0.00 1,069,230.74
AL.IACATION PERCENTS 13.0320%1 68.4962 %1 1 18.4718%1 0.0000% 100.0000%1
ALLOCATION —TOTAL PROJECT 163,552.24 859,633.23 231,822.34 0.00 1,255,007.82
ROUND TO BOND ISSUE 160,000.00 855,000.00 235,000.00 0.00 1,250,000.00
COSTS SUMMARY —PER ENGINEER DATA:
LAND / RIGHT OF WAY 93,189.65
WATER TOWER 704,180.75
KNUTSON CONTRACT:
A. A E. —SAN. SEWER:
TRUNK LINES 19,349.00 5.4710 25,037.47
LIFT STATION 103,398.00 29.2363% 133,796.28
A. A. E. —WATER
TRUNK LINES 33,410.00 9.4468 43,232.30
LATERALS:
SAN. SEWER 87,012.00 24.6031% 112,592.91
WATER 110,494.00 31.2427% 142,978.45
TOTALS 353,663.00 100.0000% 1,255,007.82
TR Co 2/8/94 12:59 PM Page 2 FD-713X LS
CITY OF OAK PARK HEIGHTS
WAL -MART VfI= & STREET IMPROV. — CONSTRUCTION COSTS
ACTUAL ACTUAL ACCR- EST. TO EST.
DESCRIPTION 1992 1993 12/31/93 FINISH TOTALS
FINANCING PROVIDED:
WAL -MART DEVEL AGREEMENT:
PLAN A COSTS 18,680.00 18,680.00 OK -PER
ESCROW ONLY -FUND 714 - 18,680.00 - 18,680.00 JOE A 2!2/94
NORELL AVE. IMPROVMENTS
EST./ DEPOSIT ONLY 171,900.00 - 1,238.85 170,661.15 REFUNDED BY
CASH TRASFERS FROM: ATTORNEY
CLOSED BOND FUND —
TRUNK STREET 35,000.00 - 9,382.65 25,617.35
A A E —CONN. CHARGE —
STORM SEWER 45,000.00 - 3,768.38 41,231.62
INVESTMENT INTEREST 3,899.26 1,306.36 5,205.62
TOTAL FINANCING 255,799.26 - 13,083.52 0.00 0.00 242,715.74
CONSTRUCTION COSTS:
CONTRACTERS:
TOWER ASPHALT— EXCEPT 0.00
CHANGE ORDERS 167,638.95 9,988.10 177
ENGINEERING, TESTING, ETC.
BONESTRO 47 5,265.03 52,507.68
OTHERS 3,307.80 3,307.80
LEGAL AND FISCAL:
ECKBERG, LAMMERS 1,279.21 270.00 1,549.21
TAUTGES , REDPATH 1,500.00 2,748.00 1,000.00 5,248.00
LAND AQUISITION:
MCCOMB, FRANK ROOS ASSOC 1,840.00 1,840.00
R M PARRANTO CO 0.00 0.00 0.00
OTHER COSTS:
PRINTING / PUBLISHING 201.00 201.00
MN. DEPT. HEALTH 150.00 150.00
MN. POLLUTION CONTROL 240.00 240.00
NORTHWEST ASSOC. 45.00 45.00
0.00
TOTAL CONSTRUCTION 223 18 1,000.00 0.00 242,715.74
EXCESS/ - DEFICIANCY 32,354.65 - 31,354.65 - 1,000.00 0.00 0.00
FUND BALANCE —DEC. 31 32,354.65 1,000.00 0.00 0.00
LAST PAYMENT -9/93 EXCEPT FOR A T. R- CHARGE @ 12/31/93
PROJECT COMPLETE PER JOE A. 2/2/94
CLOSE PROJECT @ 12/31/93 PER THE ABOVE ADJUSTMENTS
TO THE 1992 CASH TRANSFERS —SEE BELOW
TR Co 2/8/94 1:17 PM Page 1 FD- 714.XLS
CITY OF OAK PARK HEIGHTS
WAL -MART UTILITY & STREET IMPROV. —COST ALLOCATION
A A E -TRUNK FACILITIES WATER/
WATER/ STORM SEWER
DESCRIPTION SEWER SEWER STREET LATERALS TOTALS
CONSTRUCTION COST ALLOCATION —
PER FINAL CONTRACT - 4/27/93:
CONTRACTER COSTS 0.00 30,174.60 118,723.95 28,728.50 177,627.05
ALLOCATION PERCENTS 0.0000%1 16.9876 %1 66.8389%1 16.1735 %1 100.0000°hl
TOTAL COSTS 0.00 41,231.62 162,228.51 39,255.62 242,715.74
FINANCING:
DEVELOPER —PLAN A N/A 0.00
DEVELOPER —PLAN B 170,661.15 170,661.15
DEVELOPER —PLAN B - 39,255.62 39,255.62 0.00
CASH TRASFERS FROM:
CLOSED BOND FUND —
TRUNK STREET 25,617.35 25,617.35
A A E - -CONN. CHARGE —
STORM SEWER 41,231.62 41,231.62
INVESTMENT INTEREST 5,205.62 5,205.62
TOTAL FINANCING 0.00 41,231.62 162,228.50 39,255.62 242,715.74
DIFFERENCE 0.00 0.00 0.00 0.00 0.00
NOTE: SEE FUND 716 FOR NORELL / MNDOT PORTION OF THIS CONTRACT.
SEE PAGE 5 OF DEVELOPER AGREEMENT FOR PLAN A DEPOSIT.
CITY MAY HAVE DONE THIS WORK FOR THE DEVELOPER. —CALL JOE ON THIS.
TR Co 2/8/94 1:17 PM Page 2 FD -714Ja S
CITY OF OAK PARK HEIGHTS
HIGH SCHOOL D"ROVEMENTS— CONSTRUCTION COSTS
ACTUAL ACTUAL ACCR. EST. EST. TO EST.
DESCRIPTION 1992 1993 12/31/93 1994 FINISH TOTALS
FINANCING PROVIDED:
DEVEL AGREE. —L S. D. 834: 0,00
PLAN B—PAGE 7 663,704.66 576,741.00 1,240,445.66
ADMIN. / OTHER —PAGE 10 2,556.90 0.00 2,556.90
RECLASS CONN. CHARGES:
SAN. SEWER - 27,885.00 - 173,487.60 - 201 ,372.60
WATER - 180,899.00 - 224,442.00 - 405,341.00
RECLASS 58TH. ST. & EXTRA - 168,129.36 - 176,254.50 - 344 ,393,86
TRANSFER FROM CLOSED
BOND FUND 360,000.00 360,000.00
INVESTMENT INTEREST 5,994.14 3,888.59 9,882.73
TOTAL FINANCING 655,342.34 6,445.49 0.00 0.00 0.00 661,787.83
CONSTRUCTION COSTS:
CONTRACTERS:
ARCON ( STORM SEWER) 434,003.41 21,075.52 4,596.76 0.00 459,675.69 OK PER
JOE A.
ENGINEERING, TESTING, ETC.
BONESTRO 57,218.54 4,432.67 61,651.21
BRUICE FOLZ & ASSOC. 4,087.00 4,087.00
OTHERS 1,262.00 1,262.00
LEGAL AND FISCAL:
ECKBERG , LAMMERS 2,891.90 007.00 27.00 5,000.00 9,225.90
TAUTGES , REDPATH 1,500.00 2,704.00 5,000.00 9,204.00
LAND AQUISITION: 0
BEITENDORF- APPRAISAL 3,900.00 3,900.00
PAUL & KELLY RUGHO 5,880.00 5,880.00
PAUL & KELLY RUGHO 1,800.00 1,800,00
BISCHOFF 85,000.00 85,000.00 OK PER
CLOVERDALE 1,500.00 0.00 1,500.00 MARK
2/4/94
OTHER COSTS:
PRINTING / PUBLISHING 168.52 168.52
TRANSPLANT TREES 3,590.00 3,590.00
0.00
TOTAL CONSTRUCTION 516,301.37 31,019.19 4,623.76 0.00 95,000.00 646,944.32
EXCESS/ - DEFICIANCY 139,040.97 - 24,573.70 -4,623.76 0.00 - 95,000.00 14,843.51
FUND BALANCE —DEC. 31 139,040.97 114,467.27 109,843.51 109,843.51 14,843.51
TR Co 2/8/94 1:53 PM Page 1 FD- 715 - I S
CITY OF OAK PARK HEIGHTS
HIGH SCHOOL meROVEMENTS -COST ALLOCATION
NOTE. THIS PROJECT IS 100 % STORM TRUNK STORM SEWER
THE DEVELOPEMENT AGREEMENT WITH THE SCHOOL DISTRICT
INCLUDES S 289,348.20 AS A STORM SEWER A. A. E. CONNECTION
CHARGE. THIS AMOUNT IS FMD. ACCORDINGLY; MOST OF THIS
PROJECT WILL BE FINANCED FROM OTHER CITY MONIES
(I. E. CLOSED BOND FUND ) UNTIL FUTURE STORM SEWER
CONNECTION CHARGES ARE SUFFICIENT TO PROVIDE FOR
SUCH PERMENANT FINANCING.
THE DEVELOPEMENT AGREEMENT REVENUE IS DETAILED
AS FOLLOWS:
A. A. E. CONNECTION CHARGES:
( FIXED AMOUNTS )
SANITARY SEWER 201,372.60
WATER SYSTEM 405,341.00
STORM SEWER 289,348.20
58TH. ST. IMPROVEMENTS 182,586.60
EST. ENGIN. / EXTRA 161,797.26 344,383.86
TOTAL 1,240,445.66
TR Co 218/94 1:53 PM Page 2 FD- 715.}Q.S
CITY OF OAK PARK HEIGHTS
NORELL AVE. / MNDOT IMPROV. — CONSTRUCTION COSTS
ACTUAL ACTUAL ACCRUALS EST EST. TO EST.
DESCRIPTION 1992 1993 12/31/93 1 FINISH TOTALS
FINANCING PROVIDED:
STATE — MNDOT 631,594.00 631,594.00
DEFERED REVENUE 0.00 0.00
TRANSFER FROM CLOSED
BOND FUND 200,000.00 -200,000.00 0.00
TEMPORARY LOAN FROM
CLOSED BOND FUND 610,000.00 610,000.00
INVESTMENT INTEREST 0.00
TOTAL FINANCING 200,000.00 410,000.00 631,594.00 .00 0.00 1,241,594.00
CONSTRUCTION COSTS:
CONTRACTERS:
TOWER ASPHALT —ALL
CHANGE ORDERS 221,531.05 29,28137 0.00 0.00 250,812.42 FINAL
4/27/93
ENGINEERING, TESTING, ETC.
BONESTRO 14,733.74 3,44539 0.00 0.00 18,179.13
OTHERS 1,613.00 1,613.00
LEGAL AND FISCAL:
ECKBERG, LAMMERS 5,978.00 4,401.32 30.00 1,000.00 11,40932
TAUTGES , REDPATH 0.00 2,000.00 2,000.00 4,000.00
LAND AQUISTTION:
MCCOMB, FRANK ROOS ASSOC 2,239.50 84.00 2,323.50 APPRAISAL
R M PARRANTO CO 4,950.00 4,950.00 APPRAISAL
STILLWATER AERIE # 94 3,000.00 48,000.00
REAL ESTATE TAX PAID 2,376.40 53,376.40 OK
GARDNER J THOMAS 28,000.00 28,000.00 OK
WAL MART 187,899.03
REAL ESTATE TAX PAID 2,250.67
COSTS/ FEES — PD. TO ATTORNEY 706.20
SPEC. ASSESS. PREPAID 25,468.62
REFUND FUND 714 DEPOSIT - 1,238.85 215,085.67 OK
SCHOENECKER 12,117.72
R. E. TAX/ COSTS PAID 36.60 12,15432 OK
MECHELKE 4,320.16
COSTS PAID 5,643.61 9,963.77 OK
OTHER COSTS:
PRINTING / PUBLISHING 0.00 0.00
TOTAL CONSTRUCTION 282,045.29 326,792.24 30.00 3,000.00 0.00 611,867.53
EXCESS/ - DEFICIANCY - 82,045.29 83,207.76 631,564.00 - 3,000.00 0.00 629,726.47
FUND BALANCE —DEC. 31 - 82,045.29 1,162.47 632,726.47 629,726.47 629,726.47
LEGAL & ACCTG. COSTS STILL BEING INCURRED
DO NOT CLOSE UNTIL 1994 AFTER PAYMENT FROM MNDOT
CLOSE TO CLOSE BOND FUND— INTEREST ON TEMPORARY LOAN. —SEE BELOW
TR Co 2/8/94 2:06 PM Page I FD- 716.XLS
CITY OF OAK PARK HEIGHTS
NORELL AVE. / MNDOT IMPROV. -COST ALLOCATION
z
THIS PROJECT WILL. RECEIVE FINANCING FROM THE STATE OF MN. -T.
THE AMOUNT OF MN/DOT FINANCING HAS BEEN NEGOCIATED BY TI
MAYOR AND CITY ATTORNEY.
SEE LETTER FROM MN/DOT DATED 9/21/93:
DESCRIPTION MN / DOT A_ DIFF.
CONSTRUCTION COSTS 239,439 251812 - 11,373
RIGHT OF WAY 373,000 3W54 47,146
CONSTRUCTION ENGINEERING ® 8 % 19,155 19,792 -637
LEGAL / FISCAL 0 15,409 - 15,409
TOTAL MN/DOT 631,594 611,868 19,726
CASH BALANCE / INTERFUND LOAN CALCULATIONS
PROJECTED CASH ACCT. INTEREST PROJECTED
DATE ACTIVITY BALANCE 3 % / YR" TOTAL
Sep-92 - 28,990 - 28,990 -72 - 29,062
Oct-92 - 10,835 - 39,825 -100 - 39,997
Nov -92 - 213,996 - 253,821 -635 - 254,628
Dec -92 - 28,224 - 282,045 -705 - 283,557
Jan-93 -058 - 283,403 -709 - 285,623
Feb-93 -1,315 - 284,718 -712 - 287,650
Mar-93 -1,130 - 285,848 -715 - 289,495
Apr -93 -184 - 286,032 -715 - 290,394
May -93 - 29,581 - 315,613 -789 - 320,764
Jun-93 - 278,638 - 594,251 - 1,486 - 600,887
Jul -93 - 12,765 - 607,016 - 1,518 - 615,170
Aug -93 - 1,137 - 608,153 - 1,520 - 617,827
Sep-93 -50 - 608,203 - 1,521 - 619,398
Oct-93 -169 - 608,372 - 1,521 - 621,088
Nov -93 - 155 - 608,527 - 1,521 - 622,764
Dec -93 -311 -608,838 - 1,522 - 624,597
Jan-94 -30 -608,868 - 1,522 - 626,149
Feb-94 - 1,000 - 609,868 - 1,525 - 628,674
Mar -94 -1,000 -610,868 -1,527 -631,201
Apr -94 - 1,000 - 611,868 - 1,530 - 633,731
May -94 - 611,868 - 1,530 - 635,260
Jun -94 - 611,868 - 1,530 - 636,790
CONCLUSION:
ANY BALANCE REMAU41NG CAN BE TRANSFERRED / CLADSED TO THE
CLOSED BOND FUND AS PARTIAL PAYMENT FOR INTEREST.
TR Co 2/8/94 2..06 PM Page 2 FD- 716.7dS
CITY OF OAK PARK HEIGHTS
5871L ST. IMPROVEMENTS OF 1993-CONSTRUCTION COSTS
ACTUAL ACTUAL ACCRUALS EST. EST. TO EST.
DESCRIPTION 1992 1993 12/31/93 1994 FINISH TOTALS
FINANCING PROVIDED:
DEVEL AGREE. -L S. D. 834:
RECLASS CONN. CHARGES:
SAN. SEWER -ORIGINAL 27,885.00 128,487.60
SAN. SEWER -ADM 0.00 2,106.00 1,521.40
160,000.00
WATER -ORIGINAL 0.00 145,000.00 145,000.00
STORM SEWER ADD'L 0.00 21,827.00 - 21,827.00 0,00
RECLASS 58TH. ST. & EXTRA 168,129.36 176,254.50 - 90,000.00 0.00 254,383.86
TRANSFERS / RESERVES: 0.00
WATER/ SEWER OPER. 95,000.00 30,000.00 0.00 125,000.00
TRANSFER- FINANCE CHANGE ORDER
CLOSED BOND FUND 106,067.00 - 106,067.00 0.00
INVESTMENT INTEREST 6,536.73 6,536.73
TOTAL FINANCING 291,014.36 586,278.83 - 186,372.60 0.00 0.00 690,920.59
CONSTRUCTION COSTS:
CONTRACTERS:
NORTHDALE CONSTR CO. 369,808.68 47,878.74 11,312.58 0.00 429,000.00
CHANGE ORDER -10/93 0.00 98,927.54 12,072.46 0.00 111,000.00
ENGINEERING, TESTING, ETC.
BONESTRO 7,400.46 67,530.41 3,235.43 4,677.01 0.00 82,843.31
BRUICE FOLZ - SURVEY 4,311.50 4,311.50
AMERICAN TESTING 2,810.10 506.55
3,316.65
TWIN CITY TESTING 0.00 1,863.00 390.00 2,253.00
SOLIDIFICATION INC 0.00 1,580.00 1,580.00
OTHERS 42.50 42.50
LEGAL AND FISCAL
ECKBERG, L.AMMERS 3,199.95 2,691.13 75.00 2,000.00 0.00 7,966.08
TAUTGES , REDPATH 0.00 4,816.00 910.00 5,000.00 0.00 10,726.00
LAND AQUISTTION / EASEMENTS: 0.00
BETTENDORF- APPRAISAL 1,400.00 1,400.00
GUSTAFSON- APPRAISAL 2,550.00 225.00 2,775.00
ELMER & RUTH HASSE 26,310.95 26,310.95
OTHER COSTS:
PRINTING / PUBLISHING 36.00 194.16 230.16
0.00
TOTAL CONSTRUCTION 21,750.51 475,525.88 151,416.71 35,062.05 0.00 683,755.15
EXCESS /- DEFICIANCY 269,263.85 110,752.95 - 337,789.31 - 35,062.05 0.00 7,165.44
FUND BALANCE -DEC. 31 269,263.85 380,016.80 42,227.49 7,165.44 7,165.44
TR Co 2094 2:24 PM Page I FD- 717.?aS
CITY OF OAK PARK HEIGHTS
58TH. ST. IMPROVEMENTS OF 1993 —COST ALLOCATION
A A E —TRUNK FACILITIES
SAN. WATER STORM
DESCRIPTION SEWER WORKS SEWER STREETS TOTALS
CONSTRUCTION COST ALLOCATION:
CURRENT ESTIMATES
PAYMENT REQUEST # 6- 1/17/94 168,728.05 93,992.30 24,046.45 130,920.62 417,687.42
CHANGE ORDER - 1/17/94 1,795.00 0.00 19,462.50 77,670.04 98,927.54
EST. ADD'L. —PER JOE 212/94 23,385.04 23,385.04
0.00
TOTAL PROJECT. CONTRACT 170,523.05 93,99230 43,508.95 231,975.70 540,000.00
PERCENTAGE 403958% 22.5030% 5.7570% 313442% 100.0000%
ESTIMATED TOTAL PROJECT 276,208.16 153,865.58 39,364.09 214,317.32 683,755.15
PROPOSED/ EST. FINANCING:
A. A. E. CONN. CHARGES:
SANITARY SEWER 160,000.00 160,000.00
WATERWORKS -ORIG. 145,000.00 145,000.00
STORM SEWER 0.00 0.00
SCHOOL DISTRICT PAYMENT:
58 TH. ST. IMPROV. 254,383.86 254,383.86
WATER / SEWER
OPERATING RESERVES 125,000.00 125,000.00
ADJUST ® FINAL 0.00
CLOSED BOND FUND 0,00
RESERVES 0.00 0.00
RECLASS / REALLOCATE - 7,394.62 7,394.62 38,987.76 - 38,987.76 0.00
INVESTMENT EARNINGS 2,640.56 1,470.96 376.32 2,048.88 6,536.73
TOTAL PROPOSED /
ESTIMATED FINANCING 280,245.94 153,865.58 39,364.09 217,444.98 690,920.59
EXCESS /DEFICIANCY 4,037.78 0.00 0.00 3,127.66 7,165.44
TR Co 2/8/94 2:24 PM Page 2 FD -717XB
• CITY OF OAK PARK HEIGHTS
A. A. E. CONNECTION CHARGES FUNDS
771 772 773
SAN. WATER STORM GRAND
YEAR DESCRIPTION SEWER WORKS SEWER TOTALS
1991 HERITAGE / GARDNER—
RIVER HILLS-1ST. ADD.
2 707.19 1,414.38 1,414.38
2 1,154.20 2,308.40 2,308.40
2 896.58 1,793.16 1,793.16
1991 INVESTMENT INTEREST 6.27 4.86 0.00 11.13
BALANCE - 12/31/91 1,420.65 2,313.26 1,793.16 5,527.07
1992 HERITAGE / GARDNER—
RIVER HIIIS -1ST. ADD.
( 27 TOTAL LOTS )
15 707.19 10,607.85 10,607.85
15 1,154.20 17,313.00 17,313.00
15 896.58 13,448.70 13,448.70
EARL LUDOWESE 1,537.65 2,471.90 1,996.15 6,005.70
1992 WALLMART IMPROV.
WAL-MART 49,542.80 1 86,171.60 1 109,182.00 1 244,896.40
CREDIT FOR PONDING AREA - 36,394.00 - 36,394.00
LESS: AMTS. ASSESSED
TO BOND FUND - 10,792.00 1 - 19,084.00 1 - 16,120.00 1 - 45,996.00
1992 1991 UTILITY IMPROV.
MC CORMICK'S FURN. 2,721.90 4,734.30 5,998.50 13,454.70
CENTURY 21 1,793.50 2 3,119.50 2 3,952.50 2 8,865.50
EAGLES NO. 94 2,700.80 2 4,697.60 2 5,952.00 2 13,350.40
GRADY'S CYCLE 1,561.40 2 2,715.80 2 3,441.00 2 7,718.20
JERRY'S AUTO BODY 1,561.40 2 2,715.80 2 3,441.00 2 7,718.20
LESS: AMTS. ASSESSED
TO BOND FUND - 7,617.10 2 - 13,248.70 2 - 16,786.50 2 - 37,652.30
1992 SCHOOL DISTRICT IMPROV.:
I. S. D. 834 — PARTI4,L 27,885.00 180,899.00 289,348.20 498,132.20
LESS: AMTS. USED FOR
CONSTRUCTION COST - 27,885.00 0.00 - 289,348.20 - 317,233.20
1992 CASH TRANSFERS- CONSTRUCTION:
WALL-MART PROJECT 0.00 0.00 - 45,000.00 - 45,000.00
VALLEY POINT -2ND. ADD. - 30,941.90 - 29,739.16 - 13,756.91 - 74,437.97
RIVER HILLS -1ST. ADD. 0.00 0.00 - 17,211.34 - 17,211.34
1992 CASH TRANSFERS -1991 BONDS - 17,500.00 - 118,000.00 0.00 - 135,500.00
1992 INVESTMENT INTEREST 1,687.00 2,885.91 2,430.36 7,003.27
BALANCE - 12/31/92 8,283.95 129,965.81 6,366.62 144,616.38
1993 HERITAGE / GARDNER—
RIVER HILLS -1ST. & 2ND. ADD.
(2 + 27+26=55 TOTAL LOTS )
19 707.19 13,436.61 13,436.61
19 1,154.20 21,929.80 21,929.80
19 896.58 17,035.02 17,035.02
1993 1991 UTILITY IMPROV.— GRADY'S CYCLE
( P.PD. AFTER CERTIFICATION) 1,561.40 2,715.80 3,441.00 7,718.20
1993 SCHOOL DISTRICT IMPROV.:
I. S. D. 834 —FINAL 173,487.60 224,442.00 0.00 397,929.60
LESS: AMTS. USED FOR
CONSTRUCTION COST - 132,115.00 - 145,000.00 0.00 - 277,115.00
1993 CASH TRANSFERS:
1991 / 1993 BONDS - 10,000.00 - 55,000.00 11,842.86 - 53,157.14
WAL MART CONSTRUCTION 3,768.38 3,768.38
1993 INVESTMENT INTEREST 952.78 5,609.21 351.56 6,913.55
BALANCE - 12/31/93 55,607.34 184,662.62 42,805.44 283,075.40
TR Co 2/10/94 4:07 PM Page 1 FD- 77XXLS
CITY OF OAK PARK HEIGHTS
A A E. CONNECTION CHARGES FUNDS
' 771 772 773
SAN. WATER STORM GRAND
YEAR DESCRIPTION SEWER WORKS SEWER TOTALS
1994 BALANCE - 12/31/93 55,607.34 184,662.62 42,805.44 283,075.40
1994 HERITAGE / GARDNER—
RIVER HILLS -1ST. & 2ND. ADD.
(2 + 27 + 26 = 55 TOTAL LOTS )
19 707.19 13,436.61 13,436.61
19 1,154.20 21,929.80 21,929.80
19 896.58 17,035.02 17,035.02
1994 CASH TRANSFERS -1991 BONDS - 10,000.00 - 55,000.00 0.00 - 65,000.00
1994 CASH TRANSFERS— CONSTRUCTION: 0.00
1994 PROJECTED INTEREST 3% 1,668.22 5,539.88 1,284.16 8,492.26
PROJ. BALANCE - 12/31/94 60,712.17 157,132.30 61,124.62 278,969.09
1995 CASH TRANSFERS -1991 BONDS - 15,000.00 - 80,000.00 0.00 - 95,000.00
1995 CASH TRANSFERS —CONSTRUCTION: 0.00
1995 PROJECTED INTEREST 3% 1,821.37 4,713.97 1,833.74 8,369.07
PROJ. BALANCE -12 /31/95 47,533.54 81,846.27 62,958.36 192,338.16
1996 HERITAGE / GARDNER—
RIVER HILLS -311D. ADD.
( APPROX. 60 ADUL. LOTS )
60 700.00 42,000.00 42,000.00
60 1,150.00 69,000.00 69,000.00
60 900.00 54,000.00 54,000.00
1996 RESIDENTIAL -HIGH END DEVEL.
( 38 ACREAS @ 75 % )
28 2,110.00 59,080.00 59,080.00
28 3,670.00 102,760.00 102,760.00
28 2,406.00 ( LOW DENSITY) 67,368.00 67,368.00
1996 CASH TRANSFERS -1991 BONDS - 20,000.00 - 100,000.00 0.00 - 120,000.00
1996 CASH TRANSFERS -- CONSTRUCTION: 0.00
1996 PROJECTED INTEREST 3% 1,426.01 2,455.39 1,888.75 5,770.14
PROJ. BALANCE- 12/31/96 130,039.54 156,061.66 186,215.11 472,316.31
1997 CASH TRANSFERS -1991 BONDS - 20,000.00 - 105,000.00 0.00 - 125,000.00
1997 CASH TRANSFERS— CONSTRUCTION: 0.00
1997 PROJECTED INTEREST 3% 3,901.19 4,681.85 5,586.45 14,169.49
PROJ. BALANCE - 12/31/97 113,940.73 55,743.51 191,801.57 361,485.80
TR Co 2/10/94 4:07 PM Page 2 FD- 77Y.XLS
• CITY OF OAK PARK HEIGHTS
A. A. E. CONNECTION CHARGES FUNDS
BOND ISSUE REQUIREMENTS -1991 BONDS
771 772 773
YEAR OF SAN. WATER STORM GRAND
TRANSFER SEWER WORKS SEWER TOTALS
1992 17,500.00 118,000.00 0.00 135,500.00
1993 6,500.00 50,000.00 - 1,440.51 55,059.49
1994 6,500.00 50,000.00 - 6,090.93 50,409.07
1995 55,000.00 50,000.00 - 5,774.88 99,225.12
1996 70,000.00 50,000.00 - 5,458.83 114,541.17
1997 35,000.00 75,000.00 - 702.70 109,297.30
1998 0.00 120,000.00 - 4,826.72 115,173.28
1999 - 1,345.68 125,000.00 - 1,070.10 122,584.22
2000 - 667.62 125,000.00 - 1,008.36 123,324.02
2001 - 626.75 135,000.00 - 946.62 133,426.63
2002 - 585.87 150,000.00 - 884.89 148,529.24
2003 0.00 150,000.00 0.00 150,000.00
2004 0.00 160,000.00 0.00 160,000.00
2005 0.00 0.00 0.00 0.00
2006 0.00 - 2,037.22 0.00 - 2,037.22
2007 0.00 0.00 0.00 0.00
TOTALS 187,274.08 1,355,962.78 - 28,204.54 1,515,032.32
BOND ISSUE REQUIREMENTS -1991 & 1993 BONDS
771 772 773
YEAR OF SAN. WATER STORM GRAND
TRANSFER SEWER WORKS SEWER TOTALS
1992 17,500.00 118,000.00 0.00 135,500.00
1993 10,000.00 55,000.00 - 11,842.86 53,157.14
1994 10,000.00 55,000.00 0.00 65,000.00
1995 15,000.00 80,000.00 0.00 95,000.00
1996 20,000.00 100,000.00 0.00 120,000.00
1997 20,000.00 105,000.00 - 5,704.76 119,295.24
1998 20,000.00 105,000.00 - 2,890.80 122,109.20
1999 20,000.00 105,000.00 0.00 125,000.00
2000 20,000.00 115,000.00 0.00 135,000.00
2001 20,000.00 120,000.00 0.00 140,000.00
2002 20,000.00 125,000.00 0.00 145,000.00
2003 30,000.00 135,000.00 0.00 165,000.00
2004 5,000.00 50,000.00 0.00 55,000.00
2005 0.00 0.00 0.00 0.00
2006 - 648.85 - 4,728.90 0.00 - 5,377.75
2007 0.00 0.00 0.00 0.00
TOTALS 226,851.15 1,263,271.10 - 20,438.42 1,469,683.83
TR Co 2/10/94 4:07 PM Page 3 FD- 77X.XLS
CITY OF OAK PARK HEIGHTS
A. A. E. CONNECTION CHARGES FUNDS
INCREASED / - DECREASED REQUIREMENTS DUE TO ADVANCED REFUNDING
771 772 773
YEAR OF SAN. WATER STORM GRAND
TRANSFER SEWER WORKS SEWER TOTALS
1992 0.00 0.00 0.00 0.00
1993 3,500.00 5,000.00 - 10,402.35 - 1,902.35
1994 3,500.00 5,000.00 6,090.93 14,590.93
1995 40,000.00 30,000.00 5,774.88 4,225.12
1996 - 50,000.00 50,000.00 5,458.83 5,458.83
1997 - 15,000.00 30,000.00 - 5,002.06 9,997.94
1998 20,000.00 - 15,000.00 035.92 6,935.92
1999 21,345.68 - 20,000.00 1,070.10 2,415.78
2000 20,667.62 - 10,000.00 1,008.36 11,675.98
2001 20,626.75 - 15,000.00 946.62 6,573.37
2002 20,585.87 - 25,000.00 884.89 - 3,529.24
2003 30,000.00 - 15,000.00 0.00 15,000.00
2004 5,000.00 - 110,000.00 0.00 - 105,000.00
2005 0.00 0.00 0.00 0.00
2006 .648.85 - 2,691.68 0.00 - 3,340.53
2007 0.00 0.00 0.00 0.00
TOTALS 39,577.07 - 92,691.68 7,766.12 45,348.49
TR Co 2/10/94 4:07 PM Page 4 FD- 77X.XLS