HomeMy WebLinkAboutWK - October 28, 2014ANL66W^
1685 CROSSTOWN BOULLVARU N.w.. ANUUVt K, MINNI=SiU IA 553U
FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV
City Council Workshop
Tuesday, October 28, 2014
Conference Rooms A & B
1. Call to Order — 6:00 p.m.
4 • (763) 755 -5100
2. Discuss City Park Infrastructure with regards to the Reconstruction of Bunker Lake Blvd. NW /11 -25
- Engineering
3. Fire Department Update — Chief Streich — Presentation & materials provided at meeting.
4. 2015 Budget/Levy Development Discussion
5. 2014 General Fund Budget Progress Report
6. September 2014 City Investments Report
7. Other Business
8. Adjournment
(2)
C I T Y O F
&DOVE
1685 CROSSTOWN BOULEVARD N.W.. ANDOVER, MINNESOTA 55304 • (763) 755 -5100
FAX (763) 755 -8923 • WWW.ANDOVERMN.GOV
TO: Mayor and Council Members
CC: Jim Dickinson, City Administrator
FROM: David D. Berkowitz, Director of Public /City Engineer
SUBJECT: Discuss City Park Infrastructure with regards to the Reconstruction of Bunker
Lake Blvd. NW /11 -25 - Engineering
DATE: October 28, 2014
INTRODUCTION
Representatives from the Anoka County Highway Department will be presenting information to the City
Council regarding the proposed impacts to City park land as part of the proposed Bunker Lake Boulevard
Reconstruction project from Crane Street NW to Jefferson Street in Ham Lake.
DISCUSSION
Federal rules for roadway projects that are being funded by federal funds require the project agency
which in this case is Anoka County to identify any potential impacts of their project to City parks and
other 4(f) resources (such as historic sites, wildlife areas, etc.) in the EA/EAW document. If there are
impacts necessary to construct the project the impacts need to be quantified, and the County needs to
work with the City to determine if the impacts will negatively affect the activities or facilities in the park.
If the City believes that the impacts are small enough that they will not affect the use of the park or
facilities in the park (typically ROW acquisition doesn't really impact the use of the park, for instance),
then the approach to discussing the 4(0 impacts in the EA/EAW is called a "de minimis approach." The
city would provide a letter to the County that says that it believes that any proposed right -of -way
acquisition or other impacts will not affect the use of the parks, activities in the parks, or park facilities,
and that the City agrees to the de minimis approach in the EA/EAW.
If the City concludes that there are negative impacts to the use or facilities in the parks it owns due to the
project, then the city would need to identify exactly what those are, and there could need to be
negotiations between the County and City to determine if the City wants some mitigation for any
identified/quantified impacts.
Through feedback from residents and City representatives modifications have been made to the design to
reduce as much impact to the City parks as possible. Refer to the attached maps and table that identify
the proposed 4(f) impacts to City parks and the 6(f) impacts to Anoka County Parks.
ACTION REOUIItED
At this time this is for discussion only. A formal acknowledgement will be required at a future City
Council meeting.
ectfully submitted,
.Q , 1
David D. Berkowitz
Attachments: Proposed 4(f) & 6(f) Impacts Maps and Table
Cc: Andrew Witter & Gina Pizzo, Anoka County Highway Department
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ANOKA COUNTY HIGHWAY DEPARTMENT
RIGHT OF WAY /EASEMENT IMPACT LOCATION
_ NEW RIGHT Of WAY [d(f)=0.989\4(f)=0.672 Acre]
O PERMANENT EASEMENT [8(f) =0.2BI \4(f) 0.211 Acre]
O PERMANENT EASEMENT POND USES [e(f) 9.081 Acre]
_ TEMPORARY EASEMENT [8(f)= 2.005 \+(1) 8.511 Acre]
IAWCON BOUNDARY (S=ING Elf)
PROPOSED RIGHT OF WAY
CONSTRUCTION LIMITS (EASTBOUND RURAL SECTION)
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ANOKA COUNTY HIGHWAY DEPARTMENT
RIGHT OF NAY /EASEMENT IMPACT LOCATION
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NEW RIGHT OF WAY [e(Q= O.989\4(f) =0.872 Acre]
O PERMANENT EASEMENT [5(f)= 0.2E1 \4(Q =0.234 Acre]
O PERMANENT EASEMENT PONE USES [8(q =3.081 Acre]
TEMPORARY EASEMENT [B(f)= 2.005 \4(f) -0.5]1 Acre]
LAWCON BOUNDARY (ESISUNG RW)
PROPOSED RIGHT OF WAY
Q CONSTRUCTION LIMITS (EASTHDUND RURAL SECTION)
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ANOKA COUNTY HIGHWAY DEPARTMENT
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T� Rr '^ � �' NEW RIGHT OF WAY [e(f)= 0989 \4(f) =0.802 Acre]
;1 f ^ .)! it Y Ys O PERMANENT EASEMENT [e( 8= 0.281 \4(f) =0.234 Aere] ! .
PERWNENT EpSBMENT POND USES [e(f)=3.081 Acre]%• i
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1s I/, o THMPORARY EASEMENT (6(f)-2.005\4(U-0.571 Acre]
YYi r IAWCON BOUNDARY (EXISTING Elf) j
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PROPOSED RIGHT
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ANOKA COUNTY PROD. 002-716-015 BUNKER LAKE BLVD. (CSAH 116)
Revised Park 6(f) Impact (10-14-2014)
Partial Rural Section in the South
-
:PE PX)Non�
WewRW
':PE
37+50.00
44+23.00
1,337
6,747
Ball Park
44+90.00
47+00.00
1,127
1,053
48+60.00
53+10.00
37,234
22,863
1,736
7,344
Pond 1
53+10.00
59+00.00
6,113
3,697
8,508
PE Trail Added
60+00.00
61+50.00
302
3,188
1,697
PE Trail Added
61+50.00
64+40.00
28,497
pond 2
64+40.00
66+15.00
I
I
524
495
I
67+15.00
90+44.00
1 29,2781
43,093
24,747
1
Curve by the lake
69+85.00
73+30.00
0.213
1 0.5681
5,820
73+85.00
77+49.00
7,316
TE for Park Access\Trall
77+89.00
78+45.00
1,246
17,844
Curve by the lake
78+45.00
91+77.00
692
3,915
101+50.00
109+00.00
25,275
No-frail Added
119+30.00
121+00.00
1,1421
124+40.00
130+17.00
1,343
3,384
130+17.00
136+90.00
68,463
Pond 3
136+90.00
143+28.00
1,529
4,148
Ditch
SQ FT
134,194
0
1 !
11,44
ACRE
1 3.0811
O!"
iF.
0 1 ON
2.005
ANOKA COUNTY PROD. 002-716-015 BUNKER LAKE BLVD. (CSAH 116)
Revised Park 4(f) impact (10-14-2014)
10CA7I0N
.PEPC1ND-;
..... .....
60+18.00
66+05.00
1,337
1,860
Ball Park
88+42.00
88+78.00
1,127
91+00.00
97+46.00
22,863
1,736
7,344
Underpass
97+46.00
108+05.00
6,113
5,094
7,812
For Trail
123+82.00
129+50.00
302
7,731
Ball Park
I
I
I
I
I
I
SQ FT
1 29,2781
9,2941
24,747
1
ACRE
1 0.6721
0.213
1 0.5681
c1T�r or
NDOVE
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100
FAX (763) 755 -6923 . WWW.CI.ANDOVER.MN.US
TO: Mayor and Councilmembers
FROM: Jim Dickinson, City Administrator
SUBJECT: 2015 Budget Development Discussion
DATE: October 28, 2014
INTRODUCTION
City Departments have submitted to Administration/Finance their proposed 2015 Annual
Operating Budgets, also the City Council has had a number of reviews of the 2015 Proposed
General Fund Budget that will be supported by the 2015 Tax Levy.
The Council did adopt at the September 2nd regular Council meeting a Preliminary 2015
General Fund Budget. The Preliminary 2015 Budget proposes a total property tax levy of
$11,143,925: $7,630,892 (68.48 %) operational levy, $2,136,065 (19.17 %) debt service levy,
and $1,376,968 (12.36 %) capital/watershed levy. The Council has the right to reduce or
keep constant this levy until the final certification date of December 29, 2014. The
proposed levy will result in a 2.77 % increase in the gross tax levy.
Administration will update the Council on progress to date and is looking for City Council
direction based on the progress report that will be provided at the meeting.
DISCUSSION
The following are the 2015 Budget Development guidelines were adopted at'the March 4h City
Council meeting:
1) A commitment to a City Tax Capacity Rate to meet the needs of the,,organization and
positioning the City for long -term competitiveness through the use of sustainable revenue
sources and operational efficiencies.
Note: Currently the Anoka County Assessor taxable market value figures for the City of
Andover are reflecting an 18.10% increase in total taxable market value.
2) Continue with the current procurement and financial plan to appropriately expend the bond
proceeds generated from the successful 2006 Open Space Referendum.
Note: The Open Space Commission and Staff have been active pursuing open space
purchases. The City Council approved the purchase of the 40 acre Selmer /Blanchette parcel
at their September 16th City Council meeting. Staff are currently negotiating on another
parcel with the remaining bond proceeds.
3) A fiscal goal that works toward establishing the General Fund balance for working capital at
no less than 45% of planned 2015 General Fund expenditures and the preservation of
emergency fund balances (snow emergency, public safety, facility management &
information technology) through targeting revenue enhancements or expenditure limitations
in the 2014 adopted General Fund budget.
Note. With property tax revenues making up close to 80% of the total General Fund
revenues cash flow designations approaching 50% would be appropriate and are
recommended by the City's auditor. Emergency Fund Balances are in place to stabilize the
situation, not be the complete solution. Staff will review with the Council the attached 2014
General Fund Balance Analysis at the meetine.
4) A commitment to limit the 2015 debt levy to no more than 25% of the gross tax levy and a
commitment to a detailed city debt analysis to take advantage of alternative financing
consistent with the City's adopted Debt Policy.
Note: The adopted 2014 debt levy was 19.10% of the gross tax levy, the proposed 2015
Preliminary is currently at 19.17 %. If an additional debt issuance is considered in 2014 -
2015, the impact to the levy could be accommodated by the guideline. (See attached City of
Andover Property Tax Lew spreadsheet).
5) A comprehensive review of the condition of capital equipment to ensure that the most cost -
effective replacement schedule is followed. Equipment will be replaced on the basis of a cost
benefit analysis rather than a year based replacement schedule.
Note: The City Vehicle Purchasing Committee has performed this analysis, and that
committee's recommendations are include in the 2015 -2019 Capital Improvement Plan (CIP)
that was adopted at the October 21, 2014 City Council meeting.
6) The use of long -term financial models that identify anticipated trends in community growth
and financial resources that will help designate appropriate capital resources for future City
needs. The financial models will be used in the budget planning process to ensure that key
short-term fiscal targets are in line with long -term fiscal projections.
Note: The City continually maintains various financial models to determine the long -term
impacts of present day expenditures and financing decisions. Fiscal assumptions are based
upon a complex set of financial data including growth factors, tax capacity valuations, per
capita spending and debt ratios.
7) A team approach that encourages strategic planning to meet immediate and long -term
operational, staffing, infrastructure and facility needs.
Note: The City Council has adopted City Council Goals and Values, those goals and values
guide budget and CIP development.
8) A management philosophy that actively supports the funding and implementation of Council
policies and goals, and a commitment to being responsive to changing community conditions,
concerns, and demands, and to do so in a cost effective manner.
Note: The City Council has formally adopted Council Goals and Values. Management,
through these goals, pay special attention to fiscal values, commercial & residential
development or redevelopment, collaboration opportunities, service delivery and the
livability /image of the community.
Staffing:
Administration is recommending the addition of a new Maintenance Worker position and
the costs associate with that position are included in the proposed 2015 Budget. The new
Maintenance Worker position was a request was made from the Public Works Department,
in particular a Parks Maintenance Worker, this is due to the significant amount of new
Park infrastructure added over the past few years and the need to maintain that
infrastructure.
Development and building activity is fairly robust at this time, it is anticipated that this activity
will continue into the near future. With the potential of various position vacancies,
Administration & Human Resource continually monitors staffing availability and budget to
maintain adequate service levels to the public.
Personnel Related Implications:
To date the following are projected issues facing personnel related expenses:
L Administration and Human Resources are reviewing position -based salaries in detail to
determine if the current compensation package is competitive with other government
entities to ensure competitiveness. A few staff positions will be recommended to receive
market adjustments.
Pay steps for eligible employees are included in the 2015 budget proposaG A cost of
living adjustment (COLA) for non - bargaining employees of 2% is included in the
proposed 2015 Budget The Public Works Union is under contract for a 2% COLA for
2015.
2. A midyear review of the health plan was conducted with our broker in early July.
That review showed based on the most current experience period that claims are
significantly exceeding the premiums being paid which generally indicates that a
renewal will include a significant rate increase. Since early July the claims have
subsided and the forecasted claims trends are more favorable.
Administration/Human Resources, working with our health insurance broker, have
marketed our group to multiple health insurance providers. Based on the more
favorable forecasted claims Administration has reduced the previous proiected 25%
increase in health insurance to 10% for the proposed 2015 Budget. And now that
the results of the marketing are in, that has been further reduced to 5 %.
The City currently offers the employees the option of two high deductible plans ($5,000
family, $2,500 single for in network expenses) with a health spending account (HSA),
this was implemented in 2006. As part of the program, the City pays for 100% of the
single health insurance premium for an accountable care plan and 76% for a family health
insurance premium accountable care plan. Employees that select the open network health
plan pay the increased cost over the accountable care plan. The City does contribute
annually to the employees HSA.
3. Administration and Human Resources will continue to encourage the PTO conversion
Program for current City employees
Contractual Departments:
1. The City Attorney 2014 contract included a 2.0% increase over the 2013 rate.
Discussion for the 2015 contract has been: if City employees are granted a COLA, the
legal service contract would be treated the same. Administration/Finance is currently
awaiting replies from neighboring communities relative to their prosecution costs
2. The City Council approved the 2015 City of Andover Law Enforcement Contract with the
Anoka County Sheriff s Office at the October 7, 2014 City Council meeting. The 2015
budget for the contract is $2,918,308 and is offset by a Police State Aid of $122,720 and
School Liaison revenue of $88,254 reflecting a net tax levy impact of $2,707,334.
The 2015 Sheriff's contract provides for:
a. 80 hours per day of patrol service
b. 6 hours per day of service provided by a Community Service Officer
c. School Liaison Officers in the middle school and high school
d. 2 Patrol Investigators
e. 50% of the Crime Watch Program's coordinator position.
It should be noted that the Sheriff's Department always provides the required number of
deputies for all hours contracted by the City. If the Sheriff's Department has a vacancy
or a deputy is injured etc.., they still provide the City with a deputy at straight time even
though they may have to fill those hours with overtime which at times may cost the
Sheriffs Department additional, but is not billable per the contract
The 2015 contract approval maintains status quo and reflects a 3.55% increase ($100,176)
over the 2014 contract The primary drivers of the increase are a union wage increase, a State
directed employer PERA contribution, and the new Public Safety Data System annual
maintenance cost
Council Memberships and Donations /Contributions:
The following memberships/contributions are included in the proposed 2015 Budget:
• North Metro Mayors Association
$13,709
• Metro Cities
$ 9,301
• Mediation Services
$ 3,366
• YMCA — Water Safety Program
$ 8,500
• Alexandra House
$17,328
• Youth First (Program Funding)
$12,000
• NW Anoka Co. Community Consortium - JPA
$10,000
• Teen Center Funding (YMCA)
$24,500
• Lee Carlson Central Center for Family Resources
$ 1,500
• Senior High Parties
$ 1,000
Council direction is soueht on how to budget for these items in 2015.
Capital Projects and Debt Service Funds
Capital Projects Levy:
Capital Projects Levy — The 2015 Capital Projects Levy Budget specifically designates
$1,336,968 of the general tax levy to capital projects and equipment needs relating to Capital
Outlay ($250,000), Road and Bridge ($967,197), Pedestrian Trail Maintenance ($58,271) and
Park Projects ($61,500). Specific designation of the tax levy to anticipated City needs and
priorities for transportation and trail maintenance, park projects and equipment outlays allows the
City to strategically allocate its resources and raise the public's awareness of City spending
priorities. The Road and Bridge levy is evaluated annually and along with Capital Outlay,
Pedestrian Trail Maintenance and Park Levies increased/decreased according to the City Council
budget guidelines.
• Road and Bridge
An adiustment was made to the Road & Bridee funding formula in 2014, primarily to
stop the continual decrease in the levy that has been happening over the past few years
due to decreases in the Anoka County Assessor taxable market value figures for the Citv
of Andover. Based on Council discussion, consensus was to stop the decline in road
funding and evaluate annually through the adopted City Council Budget Development
Guidelines. It should be noted that in 2014, Local Government Aid (LGA) in the amount
of $74,655 was used to help fund the Road & Bridge Fund. That State of Minnesota
funding has gone away for 2015 and likely years into the future.
For 2015, the proposed levy to Roads is $967,197. The 2015 proposed levy to pedestrian
trail maintenance is $58,271, the same as was levied in 2014.
• Park Improvements
This levy is an annual appropriation to be used to underwrite park improvement projects
as recommended by the Park and Recreation Commission and approved by the City
Council. This funding is intended to be a long -term supplemental source of capital
funding for park projects that is separately identified in the City's Five -Year Capital
Improvement Plan. The 2014 levy is $61,500, the same is currently proposed for 2015
• Equipment/Projects
Under the Capital Projects Levy, a levy is proposed to be designated to capital
improvement/equipment project expenditures identified through the CIP process.
Through this designation, the City, over time, will build a fund reserve to avoid cash flow
"spikes" and address a wide range of capital improvement needs such as facility
maintenance projects under a more controlled spending environment. The 2014 levy is
$210.000 the proposed levy for 2015 is $250,000, increased to reflect the price increase
we have been seeing on equipment purchases.
Debt Service Levy:
Annually the Finance Department conducts a detailed debt service analysis to monitor
outstanding debt and to look for early debt retirement or refinancing opportunities that will yield
interest expense savings to the City. (Staff along with Ehlers & Associates have completed the
review and see no refinancing_ opportunities at this time, or in the near future.)
The proposed 2015 Debt Service levy is as follows:
• 2010A G.O. Open Space Referendum $ 184,238
• 2012A G.O. Equipment Certificate $ 140,000
• 2012B G.O. Capital. Imp. Refunding $ 540,120
• 2012C Taxable G.O. Abatement Bonds $ 975,652
• 2014 G.O. Equipment Certificates $ 296,055
Total
$2,136,065
• It should be noted that the levy is offset significantly by a $635,000 YMCA annual rental
payment for the Community Center bonds (2012C Taxable G.O. Abatement Bonds).
The proposed 2015 Debt Service levy reflects a 3.14% increase ($64.999).
ACTION REQUESTED
The Council is requested to receive a presentation and provide direction to staff.
submitted,
Attachments
City of Andover, Minnesota
Property Tax Levy
OL6er Levies
Capital Project Levy
Capital E9WpnenVProled
CertXled
Certlfled
Cemed
Ged3Md
Corbelled
Ra"mad
2.24%
Change
40.07
18.05%
2010
2011
2012
M13
2014
2015
%ofTntal
$
%
$
General Fund Lary $
7.6%,494
$ 1,508802
S 7,M,B57
$ ],332.85]
$ 7A %.891
f 7.630.892
NAB%
S 195,001
2.62%
$
-
0.00%
PedaaMSn Trall Maintenar.
51,773
54,926
%,574
58271
Debt Servbe Fends Levy
10,271
0.52%
$
-
MOM
Lmver Rum Rlvr Watershed
35,OOD
35.000
2M4A G.O. Capital Improvement Bonds
368.418
412,320
405,292
381,290
-
-
0.00%
2%4 EDA Public Fmoift Revenue Bonds
934,203
%0.858
1,092,684
452,082
1111.803
-
1,3 91).891
1,336,968
1,338960
M07AG.O.EOUbmeMCertificate
208,000
3
40.030
2.99%
2008A G.O. EWbment Certificate
171,410
1881971
10,631,299
10,831,299
10,843.925
11,10,925
100%
$
300.00
2009A G.O. EWbmer4 Centime
130,738
142,783
Less Fiscal Dispad0es OisMbu0on
1,521,663
1,888192
1,791,496
1,7885T7
117181153
2010A G.O. Open Space Ralerendum Bonds
87,797
1391179
MAN
184,973
187,283
184,238
Local Tax Rate Levy
2011 A G.O. Equipment CertlBwls
-
85,000
102.017
101,745
-
-
2012AG.O. Equipment CaMfloste
-
-
125.000
125,000
140.00
140.000
f 184,973
f 187,283
f 184.238
20120 G.O. Cap Improv Refund" Bonds
-
-
-
138339
561,015
540.120
2012C Taxable G.O. AOatement Bonds
-
-
-
578,45
740. %5
975,652
f 9,2U,SX
2014 G.O. EOUIOment CeHMCen
268000
298055
22.917.072
20.514.874
21.155.263
20.615,782
Total Debt SeMce
1,900,566
1,929,112
1, 907.551
1, %1,474
2.071,066
2,136,065
19.17%
$ 64.9%
3.14%
OL6er Levies
Capital Project Levy
Capital E9WpnenVProled
210,000
210.000
210,00
210.000
210,000
250.000
2.24%
3
40.07
18.05%
Parke projects
58410
61,500
61.500
61.500
61,500
61,500
0.55%
$
0.00%
Road BBddge
1,003,058
1,064,959
1,022,617
%7.197
%7,197
%7.197
8.66%
$
-
0.00%
PedaaMSn Trall Maintenar.
51,773
54,926
%,574
58271
58271
10,271
0.52%
$
-
MOM
Lmver Rum Rlvr Watershed
35,OOD
35.000
40,000
40.000
40,000
40.000
0.36%
$
0.00%
Total OMs,
1,359.239
11426.385
1,3 91).891
1,336,968
1,338960
11376,%8
1236%
3
40.030
2.99%
Gross Cily Law
10,856.299
10,856299
10,631,299
10,831,299
10,843.925
11,10,925
100%
$
300.00
2.TI%
Less Fiscal Dispad0es OisMbu0on
1,521,663
1,888192
1,791,496
1,7885T7
117181153
1,718,153
Local Tax Rate Levy
f 8.]34,838
f 8970.107 f
8,839,809
f 8.892.122
f 9.125,772
8.25,772
=L
less Law Based on Madxel Value
f 87,79
5 130,179 f
182,558
f 184,973
f 187,283
f 184.238
Net Laval Tax Rate Levy
f 9248839
f 8,030,926 =L I.657.241
f B,6R,749
f 8,990.488
f 9,2U,SX
AErysle l Tax Capacity Value••
i 25.263.121
22.917.072
20.514.874
21.155.263
20.615,782
24.133.762
17.06%
Tax Capacity Rate "'
38.602%
38534%
42.200%
40.878%
43.350%
38.2%%
Gham1C
-8 065%
- 11.681%
Tax Capec0y Rate W/O LRRWSD
32 .180%
36.484%
38407%
42.0%%
43.197%
Tax Capadty Rate Win LRRWSD
32.403%
313.814%
38746%
42.599Ye
43.657%
Role
ChM Ram
Law
Ch M Levy
Voter Apprgved Ref -MV
O.00551%
0.00327%
0.0568%
0. %778%
0.84100%
37.64%
•13.693%
f 108000
892%
37.871%
- 13.115%
f 150,000
1.38%
•• AoVslsd Vabe o§RVrNred SyeWustro
Flacel DkpaoHes a
Tax lruennrM eallrrefes.
37.879%
- 12.636%
$ 200,000
1.84%
BkMedrero due to line Gdy olArnlovr Anyirg /ar I-ser RUM RkW Walerslred Otardt
38.%6%
- 12.158%
$ 250.00
2.31%
38.293%
- 11.681%
f 300.000
2.77%
(1) Adpatetl Tax Capacity Value Is subbed to dmn0a
10/23/2014
City of Andover
General Fund
2014 Fund Balance Analysis
10/23/2014
Round 3
Actual
December 31, 2013 $ 6,960,236
2014 Estimated Fund Balance Increase (Decrease) (347,271)
Projected December 31, 2014 6,612,965
Less: Snow Emergency (100,000)
Public Safety (100,000)
Facility Management (100,000)
Information Technology (100,000)
Roof Replacement - Public Works Building (175,000)
Economic Development (300,000)
Prepaids / Inventories (106,445)
Working Cash Flow (5,169,365)
Estimated Balance Available for Adjustments $ 462,155
2014 Working Cash Flow Designation Calculation:
2015 Requested Expenditure $10,338,730
% of 2015 General Fund Expenditures 50.000%
$ 5,169,365
City of Andover
General Fund
2015 Budget Gap Analysis
10/23/2014
Round 3
Adopted Estimate Requested
2014 2014 2015
Revenue $ 9,569,142 $ 9,724,413 $ 9,876,575
Expenditure Base Budget 9,996,375 10,071,684 10,071,684
Available for Adjustments $ (427,233) $ (347,271) (195,109)
Adjustments to Base Budget
Personal Services
79,467
Additional Staffing (less reduction in seasonal staffing)
21,983
Services & Supplies
165,596
Transfer Out
-
Capital Outlay
-
Total Adjustments to Base Budget
267,046
Budget Gap (462,155)
Prior Year Fund Balance Available 462,155
Budget Shortfall
2014 Base Budget less any capital outlay and/or transfers. Capital Outlay is new each year. no base or
canyforward is considered.
Reconciliation
Budget Gap
Less: Additional Staffing
$ (462,155)
$ (462,155)
2015 Under (Over) Budget $ (462,155)
only GF Funded
CITY OF ANDOVER
General Fund
Revenue & Expense Summary
Actual Actual Actual Actual Actual Budget " Estimate Requested Budget Change (')
2009 2010 2011 2012 2013 2014 2014 2015 $
REVENUES
Property Taxes
$ 6,588,601
$ 7,191,602
$ 7,115,936
$ 7,340,532 $
7,376,284
$ 7,501,816
$ 7,511,891
$ 7,706,892
205,076
2.73%
License and Permits
291,904
329,901
387,206
449,826
536,707
307,355
326,380
316,588
9,233
3.00%
Intergovernmental Revenues
595,001
570,096
566,706
653,720
710,071
609,541
639,291
633,015
23,474
3.85%
Charges for Current Services
701,289
757,094
866,584
973,604
1,122,460
685,900
755,151
748,550
62,650
9.13%
Fines and Forfeits
110,779
104,780
99,777
97,571
96,130
100,750
95,750
100,750
-
0.00%
Interest Income
76,772
70,368
130,368
95,365
(17,096)
75,000
75,000
75,000
-
0.00%
Miscellaneous Revenue
130,522
134,772
127,509
149,857
140,982
91,850
124,020
98,850
7,000
7.62%
Transfers
196,930
196,930
196,930
196,930
196,930
196,930
196,930
196,930
0.00%
_ g1TOTAREVENUE
8691.9
9-
'491' 1
9- X465"' "` "�66.488�.Y5r56�4
44
- r'9875
433'x,`,'
" -7" !`3.16 %'.
EXPENDITURES
General Government 2,161,367
2,224,872
2,271,094
2,223,773
2,308,882
2,672,379
2,658,333
2,734,639
62,260
2.33%
Public Safety 4,005,405
3,920,071
3,960,221
4,087,065
4,311,340
4,383,894
4,474,394
4,572,938
189,044
4.31%
Public Works 2,352,111
2,403,162
2,451,850
2,482,490
2,759,342
2,850,774
2,849,629
2,960,825
110,051
3.86%
Other 19,540
24,953
30,631
663,372
210,519
89,328
89,328
70,328
(19,000)
- 21.27%
`'TOTAL EXPENDITURES �8'i533R23"
- 8573;05���°`��'"7�3
=76`6
'4567DOv"
'"��'�0.0$3
'�', _..9'YJ9�37 -..
10()71;°6" 4.a
`338":7
`2.'355'.u'
`.. •: 3:42No'
10/23/2014
CITY OF ANDOVER
General Fund - Expenditure Budget Summary Totals - By Department
Budget Year 2015
PURLICSAFETY
Actual
Actual
Actual
Actual
Actual
Budget'
Estimate
Requested* I
Change(-)
I
Police Protection
2009
2010
2011
2012
2013
2014
2014
2015
S
%
GENERAL GOVERNMENT
998350
967,715
974,988
1,015,825
1,126,979
1,127,389
1207,839
1,192,330
64,941
5.76%
Mayor and Council S
105,318 S
100,711
5 101,373
S 83,622 S
83,595
S 86,840
S 86,840
$ 87,154
314
0.36%
Administration
128,533
131,217
135,523
140,048
147,503
176,265
176,265
180,888
4,623
2.62%
Newsle0er
22,405
17,094
22,897
22,336
17,677
26,000
24,000
26,000
0
0.00%
Human Resources
54,623
54,970
31,855
12,485
17,907
39,229
19,353
40,156
927
2.36%
Attorney
172,900
172,775
171,062
170,930
173,244
178,300
178,300
182,000
3,700
208%
City Clerk
96,621
95,165
100,697
101,377
108,312
129,400
129,490
135,359
5,959
4.61%
Elections
6,139
37,926
6.399
39,614
1052
55336
55,201
57,492
2,156
3.90%
Finance
210,206
194,863
207,032
207,337
215,215
235,459
235,009
239,981
4,522
1.92%
Assessing
124113
144,760
143,693
143,338
144,561
150,000
146,500
150,000
0
0.00%
Information Services
122,614
136,931
142,964
136,025
135,982
170,629
170,629
172.239
1,610
0.94%
Planning & Zoning
323,682
327,567
324,303
318,523
349,489
401,360
399,235
412,937
11,577
2.88%
Engineering
388,285
389,038
413,818
427,339
452,788
465,656
463,756
470,631
4,975
1.07%
Facility Management
409,928
421,855
469,478
420,799
451,257
557,905
573.755
579,802
21,897
392%
Totl Gees n.ov;xF2,i6169r1.?A
'., 2;271',0'9'4
;2237,73;1 `-r32,308;8`82k
✓�
.3,672,579
2:6581
2,73463
- -E'
-233%
PURLICSAFETY
Streets and Highways 567,092
Police Protection
2,545,642
2,599,246
2,615,407
2,693.896
2,740,899
2,818,132
2,818,132
2,918,308
100,176
3.55%
Fire Protection
998350
967,715
974,988
1,015,825
1,126,979
1,127,389
1207,839
1,192,330
64,941
5.76%
Protective Inspection
435,102
330,707
342,437
354,753
423,495
411,295
415,945
423,161
11,866
2.89%
Civil Defense
14,935
15,451
16 ,301
14,088
13,930
17,128
22,528
29,189
12,061
70.42%
Animal Control
11376
6,952
11,088
8,503
6,037
9,950
9,950
9,950
0
000%
.7.:> ^a�, a• ='h ,2 1
Total Pub7tE•Sat -; srN:. °4A05,405'"
,. :.
20071 ''yp,^'u`
. , ..
'3,960:221'„1
- Win'
X2087065
.- `. ,3 ,34 ce4 83 94, 's"
4 11 0 „'$.'. y3 .8 -,.14
.9
,97$ 99.u#s=
s
"4572;938 ...' ". •y
-gar;; 43t^/a
PUBLIC WORKS
Streets and Highways 567,092
518,990
594,294
570,630
572,753
604,078
605,578
625,664
21,586
3.57%
S...d Ice Removal 462,849
537,947
434,603
420,175
630,799
517,949
524,479
539,770
21,821
4.21%
Street Sibms 159213
166,244
175,833
170,200
162,861
197,274
202,774
203,533
6,259
3.17%
Tmffic Signals 26,090
25,830
26.569
27,457
26,241
35,000
35,000
35,000
0
0.00%
Street Lighting 32,666
30,885
32,317
33,439
31,702
36,400
36,400
36,400
0
0.00%
Street Lights - Billed 180,641
186,320
189,144
195,197
210.331
210,000
210,000
216,000
6,000
2.86%
Park &Recreation 838,033
827,911
889,180
912,750
946,545
1,118,926
1,101,426
1,169338
50,412
4.51%
Recycling 85,527
109,035
109,910
152,642
178,110
131,147
133,972
135,120
3,973
303%
Ta7al P,nbllca3i7orks�' o `fl .`^S,'- a�'k2�52'Y17
;403;1` -
'- �31,850'
•.41112°,982;090
^�' '2,759;342y'-
X2;850,774'
- - 09;629
,960;825
�0,0
?t?k3.86%
OTHER 19,540 24,953 30,631 663 ,372 210,519 89,328 89,328 70 ,328 (19,000) - 21.27%
CITY OF ANDOVER
Budget Worksheet -2015
General Fund
Genus! Fund R.11V
Account Actual Aclpal Actual Actual Actual Regulated Eatlrnm Re9ueaed
Number Description 2009 2010 2011 2012 2013 2014 2014 2015
Sd1a116 kBenlatb
60110
Salad. - Regular
2,26]}46
2,333,796
2209,305
2224.908
2,655,218
3,057,372
3,050,012
],144.021
Solari. - Volunteer Fire Fighters
345.068
212,492
209,122
224,808
223.200
259,590
260,000
296,050
WIN
601]0
Marla - Election 3udg.
-
30,490
-
39,110
286
-
-
-
0I40
ri. - COmml /Cumrdaion
46,630
46255
46,221
43,970
413,830
48,707
46,200
48,900
60210
FICA
FICA
151$92
36,062
150,742
148,082
156,663
204,951
204,951
2WAIS
60220
32,923
36,626
32,934
]3226
20,926
57,928
57,928
50,015
60310
11.181rc
Ueallh lnaummu,
295,023
110,514
295282
300,693
725,420
OSi,W9
033,909
441246
60330
14,902
15,103
14,228
15,060
16,158
20922
20,942
19880
60]]0
IN, Insurance
Likhmwne
1,882
I }35
1292
1,058
1,187
860
860
880
60340
Long-Temt Diubiliry
6,058
5.936
5,955
6282
6,819
2,555
2}55
2,913
60010
O'l io
FERA
84,045
38099
137,220
184}50
195,280
142,431
212,431
248737
60,120
Nationwide Rel'ventem
1.000
1,000
0,000
1,000
3,222
2,000
2,000
2,000
60520
Wu&m Comp
31495
69,492
69,492
38,659
101,510
109.025
39,425
113,008
610540
155.092
154210
156,130
153,440
203$55
120,000
120,000
120,000
60990
Intar- lo, Eta A
-City Libor Allocation
004,144)
,31SAO)
(]39,658)
Sua
Selada kB<nefita
k666.821
3}41 }95
3.629,2130
3.667.659
3.981.128
4175,019
4,115.069
4.416,919
Delanmdanal
61005
Supplies - General
16,125
15,636
16,023
19,345
18,425
22,930
22,350
25,000
61010
Supp1la- 1'rhaed P.
509
94
419
332
682
1,000
1,000
1,000
61015
Supplies- Training
563
135
454
110
-
1$00
1$00
4,000
61020
Supplies - Operating
82,220
39,992
25,445
89,483
112,930
118,440
134,690
92,44D
61025
Suppli- Cleating
3,650
2,456
1,223
4,018
3,421
9,600
8,850
1,600
61030
Suppli. - Signa
]226]
35,808
21,264
28,559
20.394
4,000
40,000
40,000
61060
Supplila- Dm FrevenlioNEdu.do
-
-
-
-
-
-
2$00
61105
R & M Suppli. -Gmem1
13,11)3
15243
15,821
13224
24,463
22,000
22,000
21,500
6112D
R& M Supplies- Budding
11,143
9,922
19.280
131945
12 }31
21,350
22,37
21 }50
61125
R & M Suppli.- Slrens
142,820
135,006
122,093
93,1132
214.062
144,000
149,000
149,000
61130
R& M suppli.- landau,
22309
24,299
44,084
44,963
25326
33,070
35.000
35,000
61205
Small& Expend -Small Taola
7.324
8,992
5,611
10,276
11,034
12,800
13,800
22,000
61210
Small &Expend -Ofia Equipm
2,819
4,246
1,325
4,278
2,380
IL000
5,000
13,000
61220
Software
942
360
360
I.D00
I'm
1,200
8,200
1200
61225
Talmplogy Upgmdea
10,642
16,761
14,368
2,180
9,608
15,000
25,000
15,000
61245
Items for Raaln
33,685
33,918
37,425
31,882
36,285
30,M
37.500
37.500
61 A15
Uniforms
964
484
982
928
1,621
1,350
1,750
15,000
61310
Meals /Lodging
5,934
5263
6,952
6,158
5.059
12,450
10,150
11,200
61315
Continuing Education
32,596
30,332
23,038
32,193
34,890
55,390
50,140
41,900
61320
Annual Dula l Liama
52,092
56,649
62.408
41,273
41,629
52,039
50,454
52,486
61325
StA aaip7om/ Publuafipm
1,720
1,939
2,340
2,936
2,962
1,925
1,625
1,923
61405
Postage
16,711
15943
13,232
19,386
16,04
23,685
24,210
26,410
61410
Ta.porllI Mileage
8326
6.613
7.337
2,582
9,063
11.465
11.485
11285
Depar6nenud
513524
541,18f
498543
477.090
614201
642544
676,304
OEM
62005
Opeoaririg
Elec6ic
310,480
321,020
319258
323,728
331,333
331,350
364,100
374,350
62010
Wata &Sewn Swig
62.730
52,159
53,888
58,331
58,631
21,116
69,116
74,116
62015
Natural Gas
68,034
51226
49,646
33268
51270
81310
81,460
82300
62020
Rcftw Collation
14,765
19,213
18,844
20,484
20,461
22,800
22,600
23.300
62025
Storm Wattt Utility Chug.
2,324
4,302
4,555
4,781
4,995
5.350
5,350
5757
62030
TCiephmu
42,032
46,854
48,755
51.068
48.619
65,020
65250
69,900
621M
Ireurtna
128.457
135.933
135,661
135,661
1]9,7]1
139,731
139,731
143,923
62200
Rentals
25,866
26,900
26,522
28$92
32,219
44,550
45,550
47,920
62205
Central Equiparm Se m
467,219
490$82
490,582
490,592
505300
505,300
5W,300
520"IN
62300
Equipment Maidaudarc Conuam
32,045
27,283
34$11
37,369
32,006
49,600
50,230
51,000
62305
Suftwarc Mainland. Contra.
32]25
42,999
44,327
40A18
04.977
48,725
47,399
60,025
Dperming
IA9A137
1219.071
1226342
1222,262
1 133 2
1.405102
1 }%.Nki
1A52,694
RoriandumlS .
63005
Ro&miowl Servic.
206 }56
224,995
222,285
221,674
232,859
222,700
222,900
72750
63010
Conbaclual Swim
2,678279
2,742,410
2,1384,028
2,852,849
2,928,519
3.021332
3,028.197
3,148.843
63015
AR9mey
125,770
175,167
172,255
120,930
173,244
129300
179,300
183,WD
63025
Pulhadin,
4,078
2,561
9,075
5,096
4,941
4,100
3,900
4,200
63030
Printing
12,481
9,651
11,287
11,499
10,877
13,CW
13,407
12,950
63100
R &M labor - General
33,391
25,928
26,599
23,822
]6,9]3
40,400
47,83D
53300
63105
RAM Labor - Building
33,325
57,556
90,519
66,413
63.492
70,000
80,400
74,500
63110
R & M tabor - SVeea
-
118
515
424
-
1,500
1$00
1 N0
63215
Riccardi, Fee
506
1,109
700
1,170
1.766
450
450
450
63300
Improvement- Strata
1,955
6,349
3.332
2,840
1,630
B,m
8,000
13,000
639W
MiSalluuom
17,220
23,219
20,301
46.739
42,628
67.000
47,000
49,500
63905
C9n7ng.,
2$40
1,933
10,415
16.850
31034
45.328
45.328
43.828
Roftudmal Services
3.165,901
3271.011
3 }5011
3425,355
3529.998
3,673,710
3,663,205
3,817.821
Cvdal Ouday
65200
BuOd'mg
-
-
-
58,314
54,514
-
-
-
65600
Equipment
7,925
Capital Omlay
7,925
58,314
54.514
Other Financing Uses
67101
Opemling Tmmfem Out
60,000
135.WD
Other Financing Uala
60,000
133.000
Total
8538,423
8,573,058
8713296
9,456,700
9590.083
9.996.375
10.071,684
10.338230
MEMO -illi,
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100
FAX (763) 755 -8923 . WWW.CI.ANDOVER.MN.US
TO:
FROM:
SUBJECT:
DATE:
Mayor and Councilmembers
Jim Dickinson, City Administrator
2014 Budget - General Fund Progress Report — Through September 2014
October 28, 2014
5,
The City of Andover 2014 General Fund Budget contains total revenues of $9,569,142 and total
expenditures of $10,026,875 (includes $30,500 of 2013 budget carry forwards), a decrease in
fund balance is planned.
Monthly reporting of the City Budget progress to the Governing body is a recommended
financial practice and often viewed positively by rating agencies.
Attached is the General Fund Revenue & Expenditure Budget Summary - Budget Year
2014, with year to date actuals - September 2014. The attachments are provided to assist
discussion in reviewing 2014 progress: other documents may be distributed at the meeting.
The following represents Administration's directives and departmental expectations that are in place
again for 2014:
1. Expenditure budgets while approved, expenses are to meet with the spirit that needs are
fulfilled first, expansions of service and special requests are to be reviewed with City
Administration before proceeding.
2. Departments are to be committed to search for the best possible prices when purchasing
goods and services.
3. Departments are to be committed to continually searching out new efficiencies and to
challenge the status quo of how the City provides services.
4. Departments are to be committed to searching out collaborative opportunities to facilitate
efficient and cost - effective utilization of governmental assets and personnel.
5. Departments are to be committed to developing effective, consistent and ongoing
communications with City residents, businesses and other stakeholders.
6. Departments are to be cognizant that services provided are subject to available revenues
and should not commit to services that are not sustainable.
ACTION REQUESTED
The Council is requested to receive a presentation and provide direction to staff.
e fully submitted,
1m ickinson
Attachment
r
CITY OF ANDOVER
General Fund Budget Summary Totals
Budget Year 2014
2013 2014
REVENUES Budget Sep YTD %Bud Final Budget Sep YTD % Bud
General Property Tax
$ 7,398,782
$ 3,875,127
52 °%
$ 7,376,284
$ 7,501,816
$ 3,898,686
52%
Licenses and Permits
288,355
415,474
144%
536,706
307,355
257,249
84%
Intergovernmental
596,564
339,725
57%
710,071
609,541
325,885
53%
Charges for Services
619,850
861,589
139%
1,122,461
685,900
749,533
109%
Fines
100,750
68,185
68%
96,130
100,750
62,752
62%
Investment Income
65,000
19,845
31%
(13,242)
75,000
22,603
30%
Miscellaneous
90,350
129,632
143%
137,129
91,850
127,545
139%
Transfers In
196,93O
196,930
196,930
196,930
196,930
1008 %�
:., Ton! Revenues : Sv9.956581,, ::5 63% $''10,102,469
3'x8 .569.14`2'
S 4 83
,v„..
2013
2014
EXPENDITURES
Budget
Sep YTD
% Bud
Final
Budget
Sep YTD
%Bud
GENERAL GOVERNMENT
Mayor and Council
$ 87,953
$ 69,510
790/
$ 83,595
$ 86,840
$ 69,792
80%
Administration
143,995
110,595
77%
147,503
176,265
122,661
70%
Newsletter
25,500
14,059
55%
17,678
26,000
19,165
74%
Human Resources
42,770
11,973
28%
17,906
39,229
14,629
37%
Attorney
178,300
115,421
65%
173,244
178,300
118,575
67%
City Clerk
108,925
84,256
77%
108,311
129,400
94,006
73%
Elections
54,155
5,112
90/4
11,353
55,336
23,921
43%
Finance
221,256
166,539
75%
215,215
235,459
180,986
77 °%
Assessing
150,000
141,783
95%
144,561
150,000
142,210
95%
Information Services
161,252
100,077
62%
135,981
176,629
111,378
63 °%
Planning &Zoning
360,970
261,360
72%
349,488
401,360
280,736
70%
Engineering
440,168
333,935
76%
452,788
465,656
337,549
72%
Facility Management
566,187
326,054
58%
451,255
562,905
349,741
62%
,,Total Cen erel an Cov d
3;54143"-.s"+E'1,740,674., 68 °k
'' - 20878
,y
PUBLICSAFETY
Police Protection
2,740,899
2,055,674
75%
2,740,899
2,818,132
2,113,599
75%
Fire Protection
1,127,444
705,424
63%
1,126,979
1,127,389
837,854
740A
Protective Inspection
393,530
311,557
79%
423,495
411,295
283,138
690%
Civil Defense
17,188
12,074
70%
13,930
17,128
19,904
116%
Animal Control
9,950
2,857
29%
6,037
9,950
2,844
290%
:�Totel PuOBc'Safety4..,� ?' X 4.289011 - c,^„?'.V�43,087,586f '.:721 4 =,.4.311,340f
.� *:•'k 94
,s
.
.�,-.,,
PUBLIC WORKS
Streets and Highways
585,111
431,329
74%
572,754
604,078
443,857
73%
Snow and Ice Removal
511,834
382,228
75%
630,798
517,949
456,061
88%
Street Signs
198,693
117,543
59%
162,859
197,274
152,127
77%
Traffic Signals
36,000
17,584
49%
26,241
35,000
19,398
55%
Street Lighting
36,400
22,332
61%
31,702
36,400
22,264
61%
Street Lights - Billed
210,000
125,512
60%
210,331
210,000
130,956
62%
Park & Recreation
1,014,366
660,891
65 °%
946,545
1,138,426
729,230
64%
Recycling
128,633
110,223
86%
178,109
131,147
79,868
61%
Natal PubvBC Worirs'a *_� ""r'2721037,'"F`. 690%6..
.86t1,42r
OTHER
223,950
194,453
87%
210,519
89,328
64,952
73%
TotalONerF x,,
+.z F°'v a "' i®�aa ';4]94,�65j`f 87%',
;yy w�.,
ry?6?}a3v.,.,+.,,.,,
2' n 89;328 lr 6 9 2' 3
.y
.r
,
.1W19
.
`.. Toni Expeudltures
NET INCREASE(DECREASE) S '(418848)
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755 -5100
FAX (763) 755 -8923 • WWW.CI.AN DOVER. MN. US
TO:
FROM:
SUBJECT:
DATE:
Mayor and Councilmembers
Jim Dickinson, City Administrator
September 2014 Investment Report
October 28, 2014
Summary reporting of the City Investment portfolio to the Governing body is a recommended
financial practice and often viewed positively by rating agencies.
Furthermore, the City of Andover Investment Policy recommends the Finance Director presents
to the City Council at least quarterly the type of investments held by the City.
Attached is the Investment Maturities Summary for September 2014, the September 2014
Investment Detail Report, and the September 2014 Money Market Funds Report. These
attachments are intended to assist with discussion when reviewing the September 2014
investments.
ACTION REQUESTED
Council is requested to receive a presentation and provide feedback to staff.
submitted,
Investment Maturities - September 2014
Investment Maturities (in Years)
Credit
Fair
Less Than
_ __
1- 5
6-10
More Than
10
Investment Type
Rating
Value
1
Money market funds
N/A
$ 1,200,032
$ 1,200,032
$ -
$ -
$ -
MN Municipal Money
Market Fund (4M)
N/A
4,993
4,993
-
3,018,368
740,317
-
Certificates of deposit
FDIC
5,843,486
2,084,801
Local govemments
A1A1/A2
711,360
110,010
396,184
101,006
104,160
AAI /AA2 /AA3
8,011,417
1,938,317
3,281,221
2,175,516
616,363
AAA
4,323,678
555,641
2,236,985
1,147,029
210,292
State governments
A/AVA2
AA1/AA2 /AA3
435,702
225,410
401,003
14,956
308,452
77,594
AAA
438,731
417,551
21,180
U.S. agencies
AAA
4,477,107
243,973
3,164,455
387,738
680,941
FNMA REMIC
N/A
16,434
!
-
16,434
244,648
- - --
-
-
- -- -
-
--
- -- -
-
U.S. agencies
N/A
244,648--!--
44,648
!
-
Total investments
$ 26,108,591
$ 6,152,724
$ 13,294,591
$ 4,875,790
$ 1,785,487
Deposits
L 2,421,072
p$2:8::5:2::9::6::6::4::
Total cash and investments
28,529,664
September 20141rrvestment Detail
Description
-
Cusip Number
Credit
Rating
Type
Purchase Price
Carrying Coat
Maturity
Amount
interest
Rate
Current Market
Value
Date
Acquired
Coupon
Date
Maturity
Due Date
Currie State Bk
23130SCA9
CD
249,000.00
249,000.00
249,000.00
0.300%
249,000.00
maturity
10103113
none
10/03/14
Santander Bk Natl Assn
80280JAX9
CD
249,000.00
249,000.00
249,000.00
0.300%
248,895.42
maturity
07/16/14
none
10/16114
RBS Citizens NA
75524KCYB
CD
249,000.00
249,000.00
249,000.00
0.250%
248,952.69
maturity
08/06/14
none
11/06114
MB Financial Bank
55266CHVI
CD
102,249.00
102,249.00
100,000.00
2.350%
100,248.00
monthly
0411&11
none
11/12/14
Slate Bank India NY
856283XB7
CD
249,0OO.DO
249,000.00
249,000.00
0.350%
248,970.12
maturity
08/14114
none
11/14/14
S & T Bank
78386113149
CD
249,000.00
249,000.00
249,000.00
0.350%
248,960.16
248,892.93
maturity
maturity
12/13113
07/16/14
none
none
12/12/14
01/16/15
First Merit Bank (Ohio)
320844NY5
CO
249,000.00
249,000.00
249,000.00
0.300%
Peoples Utd Bk Bridgeport CT
712700EG7
CD
249,000.00
249,000.00
249,000.00
0.250%
248,477.10
40,526.40
maturity
semi - annual
07/16/14
05110/11
none
none
01/16/15
01/23/15
Capital One Bank Glen Allen VA
14041AXU8
CD
43,910.10
43,910.10
40,000.00
4.750%
Garrett State Bank
366526AJO
138128EC3
A3
CD
local
200,000.00
115,965.30
200,000.00
115,965.30
200,000.00
110,000.00
1.750%
3.625%
201,878.00
110,009.90
monthly
semi - annual
05/20/11
06/20/11
07/20/15
Canton Charter Twp Mich
11/24/10
none
10/01/14
Chaska MN
161664DS3
AA
local
66,128.40
66,128.40
65,000.00
100,000.00
2.000%
1200%
65,189.15
100,513.00
semi-annual
semi - annual
08/15/13
04125/12
06/01/14
08/01/12
12/01/14
08/01/15
Pell City AL -
705880ML3
AA-
local
100,000.00
100,000.00
Brooklyn Park Minn
114223V64
AA+
local
206,700.00
206,700.00
200,000.00
3.400%
1000%
201,600.00
180,482.40
semi - annual
semiannual
02/10/11
05123113
none
03101114
02101115
03/01115
Pipestone - Jasper MN ISD#2689
724114BH5
AA+
local
181,521.00
181,521.00
180,000.00
Red Wing Minn ISD #25
757130JR1
AA+
local
36,367.10
36,367.10
35,000.00
3.500%
35,450.10
semiannual
01/11/11
none
03/01115
Ramsey MN
751813QE9
AA+
local
176,289.75
176,289.75
175,000.00
1.000%
175,775.25
semiannual
06/05/12
12101/12
06/01115
Palatine III
696089RY9
AA1
local
112,000.00
112,000.00
100,000.00
5.200%
100,786.00
semiannual
11/07/11
none
12/01/14
Western Lake Superior MN
958522WP5
AA2
local
102,756.00
102,756.00
100,000.00
2.000%
100,005.00
semiannual
08/16/11
04/01/12
10101/14
Austin Minn
052249542
AA2
local
79,600.00
79,600.00
80,000.00
5.100%
80,229.60
semi - annual
07/15/08
none
02/01/15
Duluth MN
264438ZA3
AA2
local
201,733.11
201,722.00
200,000.00
1.000%
200,484.00
semi-annual
11/27112
08/01113
02/01/15
Onamia MN ISD #480
682271DT5
AA2
local
104,979.00
104,979.00
100,000.00
3.000%
100,886.00
semi - annual
09/27/12
08/01/13
02/01/15
Waunakee WI
943181NZ6
AA2
local
55,000.00
55,000.00
55,000.00
1.500%
55,319.55
semiannual
11/08/11
05101112
05101115
Waterloo IA
941647NW5
AA2
local
261,334.20
261,334.20
255,000.00
2.000%
257,929.95
semiannual
06127113
12/01113
Riley Cnty Kars Uni Sch Dist
766651NP4
AA2
local
36,876.00
36,876.00
35,000.00
4.730%
36,395.80
semiannual
05105/14
03/01/10
_06/01/15
09101115
Brownsville TX
116405FY2
AA3
local
102,683.00
102,683.00
100,000.00
2.000%
100,683.00
semi - annual
12/27/12
02115113
02115/15
SouthEastem IA Cmnty College
841625MC7
AA3
local
149,060.00
149,060.00
145,000.00
2.000%
146,587.75
semiannual
07126/12
none
06/01/15
Saint Louis Park MN
791740ZJ5
AAA
local
55,000.00
55,000.00
55,000.00
0.750%
55,077.55
semi - annual
10117112
08/01/13
02/01/15
Chesterfield MO
166455EC5
AAA
local
102,174.00
102,174.00
100,000.00
2.950%
101,023.00
semi - annual
04/30/14
none
02/15/15
Cook Cnty IL Cmnty Clg Dist #5
216129FD3
AAA
local
196,228.20
196,228.20
190,000.00
2.000%
192,262.90
semi - annual
01/08/13
06/01113
06101/15
Palm Beach Cnty FLA
696497TP1
AAA
local
226,296.00
226,296.00
200,000.00
5.808%
207,278.00
semi- annual
03/14/11
rune
06/01/15
Oregon School Boards Assn Zero Cpn
686053CE7
AA2
state
14,233.50
14,233.50
15,000.00
14,956.35
243,973.16
maturity
maturity
021OW12
09/14194
none
06/30/15
11/15/14
US Treasury Sec Stripped Zero Cpn
912833KD1
AAA
US
49,889.30
49,889.30
244,000.00
5.000%
4,947,69&23
Flushing Savings Bank
344030DK4
CD
250,023.39
250,023.39
249,000.00
1.750%
252,777.33
252,812.19
monthly
monthly
07/25/11
07/25/11
none
none
10/29/15
11/03/15
Portage County Bank
73565NAZ6
CD
249,000.00
249,000.00
249,000.00
1.650%
Sterling Savings Bank
859532AH6
CD
248,000.00
248,000.00
248,000.00
0.750%
248,714.24
semiannual
07/31/13
01/31114
01/29/16
Lake Forest Bank & Trust
509685ESB
CD
200,000.00
200,000.00
200,000.00
0.850%
200,592.00
semiannual
08/1013
02/14/14
08/15116
Luane Savings Bank
649103MY2
CD
248,000.00
248,000.00
248,000.00
0.750%
249,009.36
semiannual
08/16/13
02/16114
08/16/16
Synovus Bank GA
87164DFL9
CD
248,000.00
248,000.00
248,000.00
0.800%
246,943.52
semiannual
09110114
03/04/15
09106/16
NCB Savings Bank FSB
628825JN2
CD
100,000.00
100,000.00
100,000.00
1.500%
99,276.00
semiannual
07125/14
01/25/15
07125/18
Barclays Bank
06740KH86
CD
247,000.00
247,000.00
247,000.00
2.050%
245,458.72
semiannual
07/03/14
01/02115
07/02119
Synchrony Bank
87164WBT4
CD
247,000.00
247,000.00
247,000.00
2.050%
245,216.66
semiannual
07/11/14
01/11/15
07/11119
2,084,800.82 CD
2,603,967.90 local
14,956.35 state
243,973.16 US
less Than 1 Year
September 2014 Investment Detail
Description.
Cusi Number
P
Credit
Rating
Type
yP
Purchase Price
Carrying
rrying Cost
Maturity
Amount
Interest
Rate
Current Market
Value
Date
Acquired
Coupon
Date
Maturity/
Due Date
PrivateBank 8 Trust Co
74267GUO8
38147JU59
CD
247,000.00
247,000.00
247,000.00_
2.000%
245,053.64
semi - annual
07/21/14
01/21/15
01/23/15
07/22119
Goldman Sachs Bank USA
CD
247,000.00
247,000.00
247,000.00
245,000.00
2.050%
1.000%
2.000%
245,046.23
243,383.00
semiannual
semiannual
07/23/14
07/23/19
Bangor Savings Bank
060243DV1
92644LAB8
CD
245,000.00
245,000.00
07130/14
01/30/15
03/24/15
_
07/30/19
Victory Bank
CD
247,000.00
101,003.00
247,000.00
247,000.00
244,085.40
103,989.00
semi - annual
09/24114
09124/19
Oshkosh Wis Storm Wtr Util
68825RBD1
Al
local
101,003.00
100,000.00
3.250%
semi - annual
10/05110
05/01/11
05/01/18
Oneida County NY
6824543R2
Al
local
114,388.00
114,388.00
100,000.00
6.250%
110,658.00
semi - annual
08/16110
none
04/15/19
Junction City Kansas
481502F72
068437DM1
A2
local
101,558.00
101,558.00
100,000.00
40,000.00
25,000.00
70,000.00
5.500%
113,383.00
semi- annual
05128108
02/08/12
03/01/09
09/01/18
Barren Cnty KY _
A2
local
_ 43,996.00
43,996.00
28,125.00
4.300%
5.250%
41,289.20
26,865.00
semi- annual
none
04/01/19
Augusta ME
051411ND4
A3
local
28,125.00
semi- annual
03107112
08115113
none
10/01/17
Chaska MN _
161664DT1
AA
local
71,663.20
71,663.20
2.000%
71,335.60
semi - annual
06/01114
12/01/15
Chaska MN
161664DU8
AA
kcal
76,434.00
76,434.00
75,000.00
2.000%
77,029.50
semi- annual
08 /15113
0.6/01114
12101/16
North Mankato MN Port Auth Com
660760AG4
AA
local
107,657.00
107,657.00
100,000.00
4.000 %°
105,612.00
semi - annual
09120113
none
02/01/17
Philadelphia PA Auth Zero Coupon
717811-6,17
AA
local
161,700.00
161,700.00
245,000.00
233,301.25
maturity
01112110
none
04115117
Rice Cnty MN
762698GKB
AA
local
45,466.80
45,466.80
40,000.00
4.400%
44,411.60
semiannual
03/07112
none
02/01/19
Racine WI
7500216D4
AA-
local
local
101,792.00
101,792.00
100,000.00
2.100%
102,410.00
semiannual
01/24112
06/01/12
06/01/18
02101/19
Minnetrista MN
604229KE3
751813PB6
AA+
15,000.00
15,000.00
15,000.00
2.450%
4.500%
3.250%
15,011.25
151,232.10
20,794.40
semi - annual
semi - annual
10/10/13
02/16/12
08101/14
Ramsey MN
AA+
local
158,677.85
158,677.85
21,269.40
145,000.00
20,000.00
135,000.00
25,000.00
04/01/16
04/01119
03/01/16
Minneapolis Minn
60374YP35
250097A85
AA1
local
21,269.40
semi- annual
08/02/11
07130/12
12/22/11
none
Des Moines IA Area Cmnty Col
AA1
local
137,668.95
137,668.95
30,103.25
106,487.00
1.375%
6.000%
136,606.50
27,942.00
semi- annual
semi- annual
semi - annual
12101/12
none
06/01 116
02/01/17
Osseo MN ISD #279
688443,127
AA1
local
30,103.25
Dane-County Wl
2360914/92
AA1
local
106,487.00
100,000.00
2.4509,
07/16/12
none
12/01/17
Minneapolis MN
60374YF93
AA1
local
220,938.00
220,938.00
200,000.00
200,000.00
4.000%
3.980%
219,536.00
216,496.00
semi - annual
semi - annual
03104/14
none
03/01/18
King Cnty WA
49474EX5
AA1
kcal
224,634.00
224,634.00
03127/12
none
12/01/18
Minneapolis MN _ _
60374YS73
150528RM1
AA1
AA1
kcal
local
111,898.00
217,672.00
217,672.00
100,000.00
200,000.00
3.250%
3.000%
2.000%
108,035.00
210,208.00
semi - annual
semi - annual
06 105/12
12/01111
12/01/18
Cedar Rapids IA
Western Lake Superior MN _ _
06/11/13
12/01/13
04/01112
06/01/19
958522WO3
AA2
kcal
101,790.00
101,790.00
100,000.00
101,670.00
semi - annual
08116/11
10101/15
New York NY
64966JAW6
AA2
local
208,324.00
208,324.00
200,0_00.00
75,000.00
3.170%
205,590.00
semi - annual
04/07114
12/27/12
06/01/11
none
12101/15
Plainfield III _
726243LT3
AA2
local
79,373.25
79,373.25
3.000%
77,270.25
72,044.00
semi - annual
12115/15
Duluth Minn ISD #709
264474CKI
AA2
local
74,939.20
74,939.20
70,000.00
4.000%
semi - annual
01/18/11
none
02101116
Duluth MN _
264438ZB1
AA2
local
105,652.05
105,652.05
105,000.00
95,000.00
1-000%1
3.000%
5.250%
105,571.20
98,337.35
semi - annual
semi - annual
12/05/12
08/01113
02/01/16
Rowlett TX
7796986H7
AA
local
101,905.55
_
101,905.55
07/10/12
08/15/12
08/01109
02115/16
Hopkins Minn ISD 9270
439881HCO
AA2
local
95,278.40
95,278.40
80,000.00
89,252.00
semi - annual
04/30/12
02/01/18
Scott County IA
809486EZ2
NA
local
114,450.33
112,617.00
100,000.00
4.400%
107,583.00
semi- annual
10/31/12
12/01/12
06/01/18
Orange Beach ALA
68406PHF1
AA2
local
241,689.60
241,689.60
240,000.00
4.400%
252,004.80
semi- annual
08/05/10
02101/11
02/01/19
Waterloo IA
941647PA1
AA2
local
50,559.50
50,559.50
50,000.00
2.000%
50,325.50
semi- annual
06127/13
12/01113
06101/19
East Bethel Minn
271074HRO
AA3
local
100,941.00
100,941.00
100,000.00
3.200%
102,413.00
semi - annual
12115/10
08/01111
02/01/16
Kane McHenry Cook 8 De Kalb Zero Cpn
484080MB9
AA3
local
157,328.00
157,328.00
200,000.00
175,726.00
maturity
07/16/12
none
12101/18
Johnson Cnty KS _
478700J99
AAA
local
257,290.00
257,290.00_
250,000.00
2.000 °h
254,405.00
semi- annual
12/12113
none
10/01/15
Madison Wl
55844RFY5
AAA
kcal
103,820.00
100,000.00
2.000%
101,670'0
semi- annual
10/01/12
04/01/13
10101/15_
Hinsdale IL
433416LW2
AAA
local
_103,870.00
118,011.85
118,011.85
115,600.00
2.000 °h
117,251.70
semi - annual
04/23/14
12115/14
12115115
Three Rivers MN Park Dist
885718GG5
AAA
local
210,828.00
210,828.00
200,000.00
3.000%
207,262.00
semi- annual
12/12/13
08/01/14
02101116
Maple Grove MN
56516PNY5
AAA
local
230,52D.40
230,520.40
220,000.00
2.000%
224,994.00
semi- annual
01/10/13
08/01113
02101/17
Ramsey Crdy MN
751622JG7
AAA
local
100,000.00
100,000.00
100,000.00
1.130%
100,082.00
semi - annual
08/12/14
02/01/15
02/01117
Tennessee Valley Auth
880591EA6
AAA
local
93,153.11
93,153.11
85,000.00
5.500%
_
95,268.00
semi - annual
06/01109
01/18108
07118/17
3,018,368.29 CD
September 2014 Investment Detail
Description
Cusip Number
Credit
Rating
Type
Purchase Price
Carrying Coat
Maturity
Amount
Interest
Rate
Current Market
Value
Date
Acquired
Coupon
Date
Maturity /
Due Data
Washington County MN
937791KL4
AAA
local
115,000.00
112,114.00
115,000.00
112,114.00
115,000.00
3.750%
120,231.35
semi - annual
07101/10
01101111_
_ 01101118
02101/18
Saint Louis Park MN
Brownsville TX ISD Zero Coupon
791740WC3
AAA
local
100,000.00
3.850%
107,361.00
semi - annual
maturity
12/22/11
none
116421E46
AAA
local
229,640.00
229,640.00
37,433.20
250,000.00
229,035.00
06/26/13
none
08/15/18
02/01119
Minnetonka MN ISD #276
Palm Beach Cnty FLA
604195RA7
AAA
local
37,433.20
35,000.00
3.100%
35,646.45
247,214.00
semi - annual
semi - annual
12/22111
none
696497TR7
AAA
local
256,504.60
256,504.60
262,890.00
220,000.00
5.898%
07/06/11
none
06/01/19
06/15/19
Tenn Val Auth Cpn Strip Zero Cpn
88059EWZ3
668844DS9
452152HR5
939758DL9
AAA
local
262,890.00
300,000.00
271,044.00
maturity
semi - annual
12127/13
08/04/10
none
Norwalk Conn
AAA
A3
AA
local
state
122,464.80
217,312.00
122,464.80
217,312.00
120,000.00
200,000.00
4.050%
4.961%
125,520.00
08101/11
08/01/19
_
Illinois State
210,292.00
semi- annual
semi- annual
07/16/12
01/24/12
09101/11
03101/16
Washington State
state
205,804.00
205,804.00
200,000.00
70,000.00
4.500%
212,670.00
04/01/12
10/01/18
Oregon State
68608URVO
AA1
state
state
state
70,194.60
25,000.00
80,158.50
201,894.00
26,742.50
103,089.00
_ 200,000.00
200,084.00
70,194.60
0.890%
70,515.20
semi - annual
07/29/14
09/12/13
08/01/13
08/01/16
Mississippi Stale
6055818VB
882722,128
AA2
AAA
25,000.00
80,158.50
25,000.00
75,000.00
1.116%
3.000%
25,266.75
77,041.50
semiannual
none
12/01/16
Texas State
semi - annual
03128112
10/'26!71
04101112
02101112
10101/15
Tennessee State
880541QM2
373384ROl
AAA
AAA
state
state
state
US
201,894.00
26,742.50
200,000.00
25,000.00
_ 2.326%
2.970%
208,126.00
semiannual
08101/17
Georgia Stale
26,688.75
semiannual
semiannual
02/08/12
08/10/11
none
10/01/18
Texas State
882722J51
3133EA6K9
AAA
AAA
103,089.00
200,000.00
100,000.00
200,000.00
2.894%
0.410%
105,695.00
04/01/12
10101118_
_ _ _
Fed Farm Credit Bank
200,256.00
semiannual
10/29/12
07/15/14
04/29/13
10/29115
Fed Home Ln Mtg Corp
3134G4Y04
AAA
US
200,084.00
200,000.00
200,000.00
0.500%
1.375%
199,882.00
semi-annual
10/01/14
04/01/16
Fed Home Ln Bank
3130A1XZ6
AAA
US
US
200,880.00
200,880.00
200,390.00
semi - annual
semi - annual
07/14/14
12/05/14
06/05/17
Fed Farm Credit Bank
3133EATE8
AAA
99,647.00
99,647.00
100,000.00
250,000.00
0.900%
99,922.00
11/04113
12/08/12
06/08/17
10/30/17
12127/17
Fed Nall Mtg Assn
3136GOS69
3130AlAX6
AAA
US
250,000.00
250,000.00
0.600%
248,455.00
198,754.00
semi - annual
07/22/14
04/30/13
Fed Home Ln Bank
Fed Nall Mtg Assn
AAA
US
200,000.00
_ 200,000.00
224,325.00
200,000.00
1.300%
semi - annual
03/27/14
07/11/14
09127/14
none
3136G16E4
AAA
US
224,325.00
225,000.00
0.600%
0.7001Y.
223,389.00
198,658.00
semi - annual
12/28/17
Fed Nall Mtg Assn
3136G1AJ8
AAA
US
200,000.00
100,000.00
200,000.00
200,000.00
200,000.00
semi - annual
01/30113
02113/13
07/30/13
01/30/18
Fed Farm Credit Bank
3133ECFA7
3134G4XK9
AAA
AAA
US
US
100,000.00
200,000.00
198,000.00
100,000.00
200,000.00
1.080%
1.300%
98,621.00
semi - annual
08/13/13
02/13/18
Fed Home Ln Mtg Corp Med Term Note
Fed Home Ln Mtg Corp
199,774.00
semi - annual
03127/14
06/12/13
09/27/14
12/12/13
03/27/18
3134G46D5
3134G3ZK9
AAA
US
198,000.00
200,000.00
1,200%
198,004.00
196,954.00
semi - annual
06/12118
_Fed Home Ln Mtg Corp Med Term Note
Fed Farm Credit Bank
AAA
US
200,000.00_
200,000.00
114,000.00
200,000.00
1.200%
semi - annual
07/30/12
09/11/13
12/26113
01/30/13
none
05/26/14
07/30/18
31331Y4S6
3130AOFN5
AAA
US
114,000.00
100,000.00
5.050%
113,956.00
semi - annual
semiannual
08/01/18
11/26/18
Fed Home Ln Bank
AAA
US
200,000.00
200,000.00
200,000.00
0.500%
_
199,996.00
Fed Ned Mtg Assn
3136GORB9
AAA
US
294,999.00
_
294,999.00
300,000.00
1.375%
295,818.00
193,720.00
semiannual
semiannual
12/05/13
12/28/12
12/28/18
Fed Nad Mtg Assn
3136GOY70
AAA
US
199,300.00
199,300.00
200,000.00
100,000.00
1.080%
10130/12
01/30/13
03/04/13
01/30119
03104/19
Fed Farm Credit Bank
3133EC5NO
AAA
US
99,587.00
99,587.00
1.250%
97,906.00
16,434.32
semiannual
monthly
01/07/13
Fed Nad Mtg Assn Remic
31393EAL3
US
204,187.50
15,93315
15,606.40
250,000.00
4.500%
07/30/03
none
none
08/25/18
05/11118
FICO Strip Cpn Zero Coupon
31771F_AA9
US
US
236,235.00
236,235.00
235,445.00
9,203.15
maturity
monthly
06/09114
Fed Home Ln Mtg Corp
31393VMQ1
153,656.25
8,976.09
8,762.48
4.500%
06130103
06/15/18
13,294,590.96
semiannual
_.
2.050%
246,338.04
12120/13
06/20/14
12/20119
Celtic Bank
15118RJMO
CD
247,000.00
247,000.00
247,000.00
Citizens Alliance Bank _
17318LAP9
CD
249,000.00
249,000.00
249,000.00
249,000.00
2.000%
247,017.96
monthly
06 /27114
07/27114_
06/26/20
07120120
Enerbank USA
29266NA31
CD
249,000.00
249,000.00
2.100 -h
246,960.69
monthly
07/18114
08/18/14
Rockford IL
77316QJYG
Al
local
102,867.00
102,867.00
100,000.00
5.250%
101,006.00
semiannual
05/07/14
none
12/15/21
Chaska MN
161663653
AA
local
115,122.70
115,122.70
110,000.00
4.000%
113,246.10
semiannual
09/08/14
none
02101/24
Mitchell SD Sch Dist #17-2
606687EHO
AA
local
116,702.00
116,702.00
100,000.00
6.000%
_
112,333.00
semiannual
12/20/11
06115/19
06/15/24
Stearns Cc MN
857896MH4
AA+
local
276,875.00
276,875.00
250,000.00
4.500%
262,700.00
semiannual
04 117/13
none
06/01/20
5,914,390.00 local
936,295.20 state
3,425,537.47 US
1- SYears
740,316.69 CO
September 2014 Investment Detail
Description
Cusip Number
Credit
Rating
Type
Purchase Price
Carrying Cost
Maturity
Amount
Interest
Rate
Current Market
Value
Date
Acquired
Coupon
Date
Maturity I
Due Date
Minnetrista MN
604229KG8
AA+
local
196,265.55
196,265.55
195,000.00
3.100%
195,078.00
semi- annual
10/10/13
08101/14
02/01/21
Greemvay MN ISD #31
39678LDF6
AA+
local
27,593.50
27,593.50
25,000.00
5.000%
26,759.00
semi - annual
07/09/13
none
03/15/21
Minnehista MN
604229KJ2
80465PAN4
AA+
AA+
local
50,000.00
50,000.00
50,000.00
3.850%
50,034.50
semi - annual
semi - annual
10110113_
06117110
08/01/14
02101/23
Savage Minn
local
198,018.00
198,018.00
278,632.50
200,000.00
250,000.00
4.800%1
210,258.00
02/01/11
02/01124
Minneapolis MN
60374YS81
AA1
local
278,632.50
3500%1
270,902.50
semi - annual
semi - annual
0212_6113
none
12/01/19
Minneapolis MN
60374YG68
AA1
local
110,419.00
100,000.00
110,419.00
100,000.00
100,000.00
4.700%
109,222.00
10/31111
none
03/01123
Western Lake Superior MN
958522WU4
73723RSLB
AA2
local
100,000.00
3.150%
103,133.00
semi- annual_
semi- annual
08116/11
04101112
10/01/19
Portsmouth VA
AA2
local
286,268.00
286,268.00
108,820.00
295,000.00
2.400%
296,837.85
07/17/13
02/01/14
02/01/20
Moorhead MN
6161412R7
238388GS5
AA3
local
108,820.00
100,000.00
3.800%
101,230.00
semi- annual
semi- annual
11/14/11
09113/11
none
02101/20
Davenport Iowa
AA3
local
111,948.00
111,948.00
109,541.00
100,000.00
100,000.00
4.650%
106,061.00
none
06 /01/20
Whitewater Wis
Hawkins Cnty TN
966204KA6
AA3
local
109,541.00
4.850%
111,738.00
seml-annual
semiannual
06/09/11
none
12/01/20
420218PL7
AA3
local
111,480.00
111,480.00
366,832.80
100,000.00
4.800%
105,983.00
03/13/12
none
05/01124
Greensboro NC
39546OV21
AAA
local
366,832.80
360,000.00
3.263%
370,101.60
semi - annual
semi- annual
07/15/11
12/22/11
none
10/01119
Woodbury MN
97913PCQ7
AAA
local
123,037.35
123,037.35
115,000.00
3.250%
116,835.40
none
02101120
Dallas TX Indpt Sch Dist
235308QK2
AAA
AAA
local
116,900.00
116,900.00
100,000.00
4.4500/6
110,931.00
semiannual
04/16/12
03/11/13
08!15111
none
02/15/20
05/01/20
Tenn Valley Auth Zero Cpn
88059EHD9
local
263,970.00
263,970.00
300,000.00
100,000.00
263,127.00
maturity
Tenn Val Auth Cpn Strip Zero Cpn
88059EMX9
604195PQ4
AAA
local
88,133.00
88,133.00
87,019.00
maturity
03118 /13
11/19112
none
none
07115120
Minnetonka MN ISD #276
AAA
local
23,491.73
23,016.40
20,000.00
175,000.00
6.2000/6
4.9000/6
21,400.80
semi- annual
01/01/21
Shoreview MN
825214EH8
34160WUAO
AAA
Al
local
197,205.75
197,205.75
177,614.50
semiannual
01/25/12
08/30/10
none
07/01/10
02/01/24
Florida St Dept Environmental
state
217,800.00
217,800.00
200,000.00 _
75,000.00
6.206%
225,410.00
semi- annual
07/01/22
Minnesota St Hsg Fin Agy Taxable
60415NE24
928109XD4
AAi
state
75,562.50
75,562.50
6.300%
77,594.25
semi - annual
07127106
02107/12
01101/07
none
07/01/23
Virginia State
AAA
state
22,126.00
22,126.00
20,000.00
200,000.00
4.100%
21,179.60
semi - annual
06 101/21
Fed Farm Credit Bank
3133ECQ64
31338031-18
AAA
191,812.00
191,812.00
1.740%
195,804.00
semi- annual
07123/13
11121113
01130/13
05121/20
07/30/24
Fed Home Ln Bank
AAA
US
200,000.00
200,000.00
200,000.00
1.500%
191,934.00
semi - annual
07/30/12
4,875,789.79
105,024.00
Itasca County Minn
Lake City Minn ISD #813
465452GP9
A
local
105,024.00
100,000.00
5.550%
104,160.00
semi - annual
semi - annual
07/12/11
05/11/11
none
02/01/28
508084DW7
AA+
local
103,933.00
103,933.00
106,941.00
100,000.00
100,000.00
5.000%
105,841.00
none
02101/25
Milaca Minn ISD #912
Duluth MN
598699NT9
AA+
local
1D6,941.D0
5.650%
108,289.00
semiannual
semiannual
07!22111
none
02101/27
264438ZL9
AA2
local
29,767.20
29,767.20
30,000.00
2.625%
27,924.90
12/05/12
08101/13
02/01/25
Will County IL Cmnty Zero Coupon
Van Buren Mich Public Schools
969078QM9
AA2
local
159,000.00
159,000.00
500,000.00
262,670.00
maturity _
semiannual
08/25/09
none
11101/27
920729HD5
AA2
local
102,750.00
121,500.00
100,000.00
6.430%
111,638.00
07117109
11101109
05101129
Tennessee Valley Auth Ser E
Ice Deposit - National Sports Center
880591CJ9
AAA
local
_102,750.00
121,500.00
100,000.00
6.750%
134,023.00
semi- annual
maturity
03/19/09
02/06/08
none
11/01/25
none
local
250,000.00
106,030.45
250,000.00
106,030.45
250,000.00
250,000.00
none
01101126
Fed Farm Credit Bank
31331VLCB
AAA
US
100,000.00
5.250%
121,381.00
201,180.00
semi - annual
semiannual
02/26/10
none
04121/28
Fed Nat Mtg Assn
31398AQYI
AAA
US
218,100.00
218,100.00
200,000.00
5.380%
12124/12
none
11/13/28
Fed NffiI Mtg Assn
3136FTP94
AAA
US
361,069.20
361,069.20
360,000.00
2.000%
358,380.00
semi - annual
-
12/13/12
-
none
02/27/32
1,785,486.90
24,903,565.88
3,423,551.25 local
324,183.85 state
387,738.00 US
5 - 10 Years
1,104,545.90 local
680,941.00 US
10+ Years
INVESTMENT SCHEDULE - Money Market Funds
September 30, 2014
Description
Current Market
Value
YTD Interest
Wells Far 2o
1 Wells Fargo Government Money Market Fund
$1,200,032.101 $215.79
4M
J 14M
1 1,892.52 -
4M PLUS
1 14M Plus
3,100.71
Grand Total Money Market Funds 1 $1,205,025.33 1 5215.79
Updated: 1011512014