HomeMy WebLinkAboutWK - July 17, 2018CNI T Y O OVEF
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 5530
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
City Council Workshop
Tuesday, July 17, 2018
Conference Rooms A & B
Call to Order — 6:00 p.m.
4 • (763) 755-5100
2. 2019-2023 CIP Discussion— Focus on Equipment -Administration
3. 2019 Budget Development Discussion -Administration
4. June 2018 General Fund Budget Progress Report -Administration
5. June 2018 City Investment Report - Administration
6. Other Business
7. Adjournment
C I T Y O F
MOVE
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: Mayor and Councilmembers
FROM: Jim Dickinson, City Administrator
SUBJECT: 2019-2023 CIP Discussion — Focus on Equipment
DATE: July 17, 2018
INTRODUCTION
e
Late March, Administration/Finance distributed baseline worksheets to Department Heads for the
2019-2023 CIP kick-off. Subsequent discussion centered on the 2019-2023 CIP development, the
need of other committees (Vehicle/Equipment Purchasing & Facility Management Committees)
and commissions (Parks and Recreation & Community Center Advisory) to start their work and
to work toward a "draft" proposed 2019-2023 CIP to present to the City Council.
DISCUSSION
Throughout the summer a significant amount of time will be spent on evaluating utility
infrastructure, transportation improvements, building maintenance, equipment and park and
recreation needs. Each of these items will be supported by a detailed fund balance analysis of
funding sources (based on various assumptions and estimates) that will be presented to the Council
for review at future workshops.
At this time the Staff would like the Council to review the proposed equipment (attached) as
recommended by the Vehicle/Eguipment Purchasing Committee proposed to be included in the
2019-2023 CIP.
ACTION REQUESTED
The Council is requested to review the attachments, receive a brief presentation, and provide
direction to staff on Council priorities for the 2019-2023 CIP.
submitted,
4
Equipment Only
City of Andover, MN
Capital Plan
2019 thru 2023
PROJECTS & FUNDING SOURCES BY DEPARTMENT
Department Project Priority 2019 2020 2021 2022 2023 Total
Building
Replacement - Small Extended Cab Pick Up #8 19-42300-01 1 35,000 35,000
Capital Equipment Reserve 35,000 35,000
Building Total
Central Equipment
Replacement - Senlice Truck #371
20A8800-01
Capital Equipment Reserve
Central Equipment Total
8,000
Community Center
15,000
Replacement - Skate Sharpener
19-44200-01
Comm Car Operations
Replacement - Floor Scrubber
20-44000-04
Comm Ctr Operations
15,000
Replacement- Zamboni Battery Pack
20-44300-04
Comm Ctr Operations
Replacement - Scissor Lift
21-44000-01
Equipment Bond
Replacement- Kaivac Cleaning System
21-44000-03
Comm Ctr Operations
Replacement-Zamboni
22-44300-01
Comm Ctr Operations
Replacement -Electric Edger
22-04300-03
Comm err Operations
15,000
Community Center Total
Elections
Replacement- Election Voting Booths
19-41310-01
Capital Equipment Reserve
10,000
Elections Total
Engineering
Replacement - Pick Up Track #6 20-41600-02
Equipment Bond
Replacement -3/4 Ton Truck#12 22-41600-01
Equipment Bond
Engineering Total
Fire
35,000 35,000
2 45,000 45,000
45,000 45,000
45,000 45,000
1 8,000
8,000
8,000
8,000
1
15,000
15,000
15,000
15,000
1
15,000
15,000
15,000
15,000
1
15,000
15,000
15,000
15,000
1
10,000
10,000
10,000
10,000
1
180,000
180,000
180,000
180,000
1
10,000
10,000
10,000
10,000
8,000
30,000
25,000
190,000
253,000
1 25,000
25,000
25,000
25,000
25,000
25,000
2
40,000
40,000
40,000
40,000
2
50,000
50,000
50,000
50,000
40,000
50,000
90,000
Friday, July 13, 2018
Equipment Only
132,000
669,000
160,000
646,000
71,000 1,678,000
Park & Ree - Operations
Department
Project#
Priority
2019
2020
2021
2022
2023
Total
Replacement -Turnout Gear
19-42200-01
1
22,000
23,000
24,000
25,000
25,000
119,000
General Fund
New - Large Capacity Mower
20A5000-02
21,000
23,000
24,000
25,000
25,000
119,000
Replacement -Engine 21 #4 884
19-02200-D2
1
110,000
400,000
110,000
Replacement- Cushman Field Dresser #547
20A5000-03
510,000
Equipment Bond
110,000
400,000
27,000
510,000
New- Bullex Fire Extinguisher Prop
19-42200-03
2
20-45000-04
10,000
18,000
10,000
Capital Equipment Reserve
18,000
10,000
18,000
New- Buffalo Turbine Tow -Behind Blower
10,000
Replacement -(2) SCBA Compressors Sta. 2 and 3
20-42200-01
1
130,000
Capital Equipment Reserve
130,000
Equipment Bond
8,000
Replacement- Large Capacity Mower#11-582
130,000
1
130,000
Replacement -800 MHz radios
20-42200-02
2
46,000
46,000
46,000
46,000
184,000
Capital Equipment Reserve
1
46,000
46,000
46,000
46,000
184,000
Replacement -Thermal Imaging Cameras
20-42200-04
1
50,000
45,000
330,000
45,000
Equipment Bond
508,000
Storm Sewer
45,000
45,000
Replacement -Automated External Defibrillator
20-42200-D5
1
15,000
250,000
250,000
Equipment Bond
15,000
Capital Equipment Reserve
250,000
15,000
Storm Sewer Total
15,000
Replacement- Grass Utility Vehicle (UTV) #4813
21-42200-01
1
Streets / Highways
45,000
45,000
Equipment Bond
New - Sign Message Board
19-43100-11
1 18,000
45,000
18,000
45,000
Replacement -1999 GMC Sonoma Truck (U-10) #4810
21-42200-02
3
45,000
Replacement - Front End Loader#124
20-43100-01
45,000
Equipment Bond
275,000
Equipment Bond
45,000
275,000
45,000
Replacement -Engine 31#4800
22-42200-01
1
20-43100-02
1
80,000
475,000
475,000
Equipment Bond
475,000
475,000
Replacement -4818 Rescue#31
22-42200-02
1
100,000
100,000
Equipment Bond
100,000
100,000
Fire Total
132,000
669,000
160,000
646,000
71,000 1,678,000
Park & Ree - Operations
Replacement -Water Tanker#161
20-45000-01
1
175,000
175,000
Equipment Bond
175,000
175,000
New - Large Capacity Mower
20A5000-02
1
110,000
110,000
Equipment Boad
110,000
110,000
Replacement- Cushman Field Dresser #547
20A5000-03
1
27,000
27,000
Equipment Bond
27,000
27,000
Replacement -Trailer #T-555
20-45000-04
1
18,000
18,000
Equipment Bond
18,000
18,000
New- Buffalo Turbine Tow -Behind Blower
21-45000-01
1
8,000
8,000
Capital Equipment Reserve
8,000
8,000
Replacement- Large Capacity Mower#11-582
22-45000-01
1
120,000
120,000
Equipment Bond
120,000
120,000
Replacement -JD Tractor #515
22-45000-02
1
50,000
50,000
Equipment Bond
50,000
50,000
Park & Rec - Operations Total
330,000
8,000
170,000
508,000
Storm Sewer
Replacement- Elgin Street Sweeper#169
22-08300-01
1
250,000
250,000
Equipment Bond
250,000
250,000
Storm Sewer Total
250,000
250,000
Streets / Highways
New - Sign Message Board
19-43100-11
1 18,000
18,000
Capital Equipment Reserve
18,000
18,000
Replacement - Front End Loader#124
20-43100-01
1
275,000
275,000
Equipment Bond
275,000
275,000
Replacement- One Ton Truck wl Plow#133
20-43100-02
1
80,000
80,000
Friday, July 13, 2018
Equipment Only
Department
Project #
Priority 2019
2020
2021
2022
2023
Total
Equipment Bond
80,000
80,000
Replacement -Bobcat 5185#120
20-43100-03
1
60,000
60,000
Equipment Bond
60,000
60,000
New - Dump Truck wl snow removal
21-43100-01
1
240,000
240,000
Equipment Bond
240,000
240,000
New - 3/4 Ton Truck wl Snow removal
21-43100-02
1
60,000
60,000
Equipment Bond
60,000
60,000
New - Stump Grinder
21-43100-03
1
8,500
8,500
Equipment Bond
8,500
8,500
Replacement- Dump Truck wl Snow removal#198
22-43100-01
1
240,000
240,000
Equipment Bond
240,000
240,000
Replacement -Backhoe Loader#80
22-43100-02
1
100,000
100,000
Equipment Bond
100,000
100,000
Replacement - Dump Truck w/ Snow removal #200
23-43100-01
1
240,000
240,000
Equipment Bond
240,000
240,000
Replacement- Aerial bucket truck #00-139
2343100-02
1
200,000
200,000
Equipment Bond
200,000
200,000
Streets / Highways Total 18,000 415,000 308,500 3402000 440,000 1,521,500
Water
New- Valve Maintenance Trailer 19-48100-03 1 70,000
Water Fund 70,000
Water Total
70,000
70,000
70,000 70,000
GRAND TOTAL 288,000 1,529,000 501,500 1,646,000 511,000 4,475,500
Friday, July 13, 2018
1685 CROSSTOWN BOULEVARD N.W.. ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: Mayor and Councilmembers
FROM: Jim Dickinson, City Administrator
SUBJECT: 2019 Budget Development Discussion
DATE: July 17, 2018
O
INTRODUCTION
City Administration/Finance along with the Department Heads continue to work on the 2019
Annual Operating Budget Development process and are looking to update the City Council on
progress and seek direction as the preparation of the 2019 Annual Operating Budget proceeds.
City Administration will review with the Council the bold italics items at the meeting. Also,
Administration will review various spreadsheets with the Council using the Smart Board in the
conference room.
DISCUSSION
The following are the 2019 Budget Development guidelines adopted at the April 3`d 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 using sustainable revenue sources and
operational efficiencies.
Note: Preliminary Anoka County Assessor taxable market value figures for the City of
Andover are reflecting close to a 5.8% increase in total taxable market value. Refer to
attached Pay 2019 Valuation Estimates.
2) A fiscal goal that works toward establishing the General Fund balance for working capital at
no less than 45% of planned 2019 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 2018
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. The 2018 budget exceeded this guideline, also
Emergency Fund Balances (approximately 3% of planned General Fund expenditures) are
in place to stabilize a situation, not be a complete solution. Staff will review with the
Council a 2018 General Fund Fund Balance Analysis at the meeting.
3) A commitment to limit the 2019 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 2018 debt levy was 12.88% of the gross tax levy, the 25% guideline
provides reasonable margin to accommodate additional debt.
Please keep in mind thatfor the 2017 & 2018 budgets, $500,000 & $525,000 respectively of
existing debt levy through 2016 was temporarily moved to a Capital Levy to fund planned
equipment purchases (rather than issuing debt), that decreased the debt levy percentage of
the gross tax levy significantly. The $525.000 will be returning to debt levy for 2019.
4) A comprehensive review of the condition of capital equipment to ensure that the most cost-
effective replacement schedule is followed. Equipment will be replaced based on a cost benefit
analysis rather than a year -based replacement schedule.
Note: The City Vehicle Purchasing Committee has performed this analysis and has made
recommendations to the City Council as part of the 2019-2023 Capital Improvement Plan
(CIP) development process. This will be covered in more detail with the CIP discussion.
5) 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.
6) Continued commitment to strategic planning targeted toward meeting immediate and long-
term operational, staffing, infrastructure and facility needs.
Note: A Council Community Vision and Organizational Goals and Values document was
approved by the City Council. Administration is to assure that direction provided in that
document is integrated into various department work plans and budgets.
7) 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: Administration pays special attention to fiscal values, commercial & residential
development or redevelopment, collaboration opportunities, service delivery, livability and
image of the community.
Staffing:
Administration has received new full-time staffing requests from the Fire Department,
Engineering Department and the Community Center for consideration in the 2019 budget. The
Fire Department staffing request focuses on administrative support and community education
activities. The Engineering Department request is for a Geographic Information System (GIS)
specialist position to focus on mapping solutions. The Community Center request for an
Assistant Manager to assist with facility and recreational management. Administration is
reviewing the requests with the respective departments and will make a recommendation on the
positions to the Council at a future workshop.
There are also some anticipated retirements and staff vacancies within the next few years; in
response Administration/Human Resources will continue to focus on succession planning,
utilization of internship opportunities, continued cross -training of staff, and/or possible
realignment of resources.
Personnel Related Implications:
To date the following are the other projected issues facing personnel related expenses:
Human Resources has reviewed all position -based salaries and the associated benefit
package to determine if the total package is competitive with other government entities.
Based on the research, there are a few positions where salaries are lagging the market.
Overall, pay steps for eligible employees are included in the 2019 budget proposal. A cost
of living adjustment (COLA) for non -bargaining employees is currently being evaluated.
The current Public Works Union contract expires December 31, 2019 and the negotiated
wage for 2019 will be included in the 2019 budget proposal numbers.
2. A midyear review of the employee health plan will be conducted with our broker in late
July.
The City offers employees an open access high deductible plan ($5,000 family plan
deductible and $2,500 single plan deductible) with a health spending account (HSA), this
was implemented originally in 2006 As part of the program, the City pays for 100% of
the single health insurance premium and 76%for a family health insurance premium. The
City does contribute annually to the employee's HSA.
Contractual Departments:
The City Attorney agreed to a fee neutral status -quo service level contract for 2018.
There have been discussions on the contract for the 2019 budget, but nothing finalized
as of yet.
2. The 2018 City of Andover Law Enforcement expenditure budget is $3,053,526 which is
offset by a Police State Aid revenue budget of $135,200 and School Liaison revenue budget
of $95,529 reflecting a net tax levy impact of $2,822,797.
The 2018 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.
Per contract, the Sheriff always provides the required number of deputies for all hours
contracted by the City. If the Sheriff's Office has a deputy 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 Sheriff's Department additional
but is not billable per the contract.
Staff has had initial discussions with the Anoka County Sherifffor a 2019 contract and
has received a proposal for a status quo contract. That proposal reflects a 4.26%
increase ($130,084) over the 2018 contract. The primary driver of the contract increase
is the recent wage settlements with the various bargaining units for the Anoka County
Sheriff's Departments. Another driver is the inability to be able to acquire sedan squads,
about the only option at this time is the SUV
Council Memberships and Donations/Contributions:
The following memberships/contributions are currently included in the 2018 Budget:
• North Metro Mayors Association
$15,150
(GF)
• Metro Cities
$ 9,518
(GF)
• Mediation Services
$ 3,366
(GF)
■ YMCA — Water Safety Program
$ 8,500
(GF)
■ Alexandra House
$18,328
($15,328 GF & $3,000 CG)
• Youth First (Program Funding)
$14,000
($12,000 GF & $2,000 CG)
• NW Anoka Co. Community Consortium - JPA
$10,000
(GF)
• Teen Center Funding (YMCA)
$24,500
($8,100 GF & $16,400 CG)
• Family of Promise
$ 3,000
(CG)
• Lee Carlson Central Center for Family Resources
$ 1,500
(GF)
• Senior High Parties
$ 1,000
(CG)
■ Stepping Stone
$ 900
(CG)
Some are funded via the General Fund (GF), and those that qualify for charitable gambling
funding are done through the Charitable Gambling (CG) Special Revenue Fund.
Council direction will be sought on the memberships/contributions for 2019.
Capital Projects Levy:
Capital Projects Levy — The 2018 Capital Projects Levy Budget specifically designates $2,134,014
of the general tax levy to capital projects and equipment needs relating to Capital Project Outlay
($275,000), Capital Equipment Purchases ($525,000) Road and Bridge ($1,169,014), Pedestrian
Trail Maintenance ($100,000), Park Projects ($15,000) and Facility Maintenance Reserve
($50,000). 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 adjustment was made to the Road & Bridge 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 City 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
largely gone away, down to $0.00 in 2017 and 2018. Future increases in LGA or even
the presence of LGA for the City of Andover based on the current State formula are
remote.
The 2018 City of Andover Road & Bridge levy is $1,169,014. That was a 4.74% increase
over 2017. Administration is proposing a 7.34% increase ($85,774) for 2019.
The 2018 City of Andover Pedestrian Trail Maintenance levy was increased significantly
from $63,075 in 2017 to $100,000 for 2018, a 58.54% increase in funding.
Administration is proposing a 2% increase to this levy ($2.000) for 2019.
• 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 supplemental source of capital funding for park
projects that is separately identified in the City's Five -Year Capital Improvement Plan.
The 2015 levy was $61,500, but only $15,000 was levied f n-2016. $46,500 of the previous
levy was re -assigned to the General Fund to focus on Park's maintenance/replacement
items. In addition to the re -assigned funds an additional $43,500 of General Fund levy
was assigned to Parks Repair/Replacement items for a total levy of $90,000 in 2016, and
that continued for 2017. The 2018 General Fund levy assigned to Parks
Repair/Replacement items levy was increased to $100,000, and the Parks Project levy
remained at $15,000.
Administration/Finance has evaluated these levy items throughout the CIP process and
is not proposing any adjustment to these levies for 2019.
• Equipment/Projects
Under the Capital Projects Levy, a levy is proposed to be designated to Capital
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 2018 levy is $275,000,
Administration will likely be recommending the same $275,000 for 2019.
• Equipment/Projects
This was a reassigned levy in 2017 to provide for the 2017 equipment purchases.
AdministrationlFinance proposed a straight $500,000 Capital Equipment Purchases
Levy for the 2017 equipment purchases rather than through debt service levy and an
equipment bond. This process continued through 2018 but increased the levy by $25,000
to $525,000. In 2019, this levy is turned back to debt service levy for the City Campus
Master Plan implementation.
• Facility Maintenance
This was a new $50,000 levy proposed for 2018. A facility condition assessment study
identified many maintenance repairs for City facilities such as roofs, HVAC, electrical
panels, fire alarm systems, windows and air quality related items. This levy is anticipated
to continue. Administration/Finance after evaluating this levy throughout the CIP
process is recommending a $5,000 increase in this levy to $55,000 for 2019.
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. (Staffalong with Ehlers & Associates have completed reviews to see
if any refinancing opportunities are available at this time, there are none. Finance will continue
to monitor refunding opportunities, as markets can move quickly, and calculate potential savings
for issues that may meet parameters which may generate savings.)
The current 2018 Debt Service levy is as follows:
• 2010A G.O. Open Space Referendum
$
183,989
• 2012C Taxable G.O. Abatement Bonds
$
969,378
• 2014A G.O. Equipment Certificates
$
294,525
• 2016A G.O. Equipment Certificates
$
142,837
• (New) 2019 Capital Improvement Bonds
$
525,000
Total $2,115,729
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).
Staff will review with the Council at the meeting the City of Andover Debt Service Levy
Summary. The 2019 levy has the reassignment of the $525.000 Capital Projects Levy back to
Debt Service Levy for the City Campus Master Plan implementation.
ACTION REQUESTED
The Council is requested to receive a presentation and provide direction to staff.
9
Andover Valuation Totals
Captured Tax Increment
CITY OF ANDOVER
Pay 2019 Valuation Estimates
Pay 2016 Pay 2017 Pay 2018 Estimate Pay 2019
Taxable Tax Taxable Tax Taxable Tax Taxable Tax
Market Capacity Market Capacity Market Capacity Market Capacity
Value Value Value Value Value Value Value Value
$ 2,539,686,867 $ 26,847,273 $ 2,636,599,713 $ 27,920,178 $ 2,959,411,470 $ 31,287,043
(248,327)
(91,996)
(94,415)
$ 3,131,174,122 $ 32,538,525
(94,542)
Fiscal Disparity Contribution
(1,055,284)
(1,124,211)
(1,184,724)
(1,184,728)
Local Tax Rate Value
25,543,662
26,703,971
30,007,904
31,259,255
Fiscal Disparity Distribution
4,264,789
4,516,466
4,807,372
4,807,372
Total Adjusted Values
$ 29,808,451
$ 31,220,437
$
34,815,276
$ 36,066,627
4.74%
11.51%
3.59%
Taxable Market Value
Tax Capacity
Value
% Change
% Change
Pay 2015
$
2,539,686,867
Pay 2015
$
26,847,273
Pay 2016
$
2,636,599,713
3.82%
Pay 2016
$
27,920,178
4.00%
Pay 2017
$
2,959,411,470
12.24%
Pay 2017
$
31,287,043
12.06%
Pay 2018
$
3,131,174,122
5.80%
Pay 2018
$
32,538,525
4.00%
Taxable Market Values
$3,500,000,000
$3,000,000,000
$2,500,000,000
$2,000,000,000
$1,500,000,000
$1,000,000,000
$500,000,000
$0
Pay 2015 Pay 2016 Pay 2017 Pay 20111
Tax Capacity Values
$35,000,000
$30,000,000
$25,000,000 ~—
$20,000,000
$15,000,000
$10,000,000
$5,000,000
$0
Pay 2015 Pay 2016 Pay 2017 Pay 2018
1685 CROSSTOWN BOULEVARD N.W.. ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: Mayor and Councilmembers
FROM: Jim Dickinson, City Administrator
SUBJECT: June 2018 General Fund Budget Progress Report
DATE: July 17, 2018
INTRODUCTION
The City of Andover 2018 General Fund Budget contains total revenues of $11,085,238 and total
expenditures of $11,319,815; 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.
DISCUSSION
Attached is the General Fund Revenue & Expenditure Budget Summary - Budget Year 2018
reflecting year to date actual through June 2018 The attachment provided is to assist
discussion in reviewing 2018 Progress; other documents may be distributed at the meeting
The following represents Administration's directives and departmental expectations in place for
2018:
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
Ne Council is requested to receive a presentation from staff.
f\��\
CITYOF ANDOVER
General Fund Budget Summary Totals
Budget Year 2018
2017 2018
REY'ENf I':5 Budget June YTD %Bud Final Budget June YTD %Bud
General Property Tax
S 8,420,354
$ 52
0%
$ 8,332,634
S 8,721,256
S 7,707
0%
Licenses and Permits
367,705
290,561
79%
544`568
377,900
259,548
69%
Intergovernmental
766,150
284,549
37%
793,931
766,274
301,543
39%
Charges for Services
773,950
371,307
48%
787,042
746,700
382,727
51%
Fines
100,750
34,298
34%
75,287
90,250
31,806
35%
Investment Income
75,000
(4,811)
.6%
64,751
75,000
(6,871)
-9%
Miscellaneous
124,300
100,060
80%
179,789
129,300
78,734
61%
Transfers In
196,930
196,930
100%
196,930
178,558
178,558
100%
Total Revenues
S 10,825,139
S 1,272,946
12%
S 10,974 32
S 11,085,238
S 1,233,752
ll%
2017 1 2019
EXPENDITURES Budget June YTD % Bud Final Budget June YTD % Bud
GENERAL GOVERNMENT
Mayor and Council
$ 89,991
$ 56,476
63%
$ 84,136 S
91,298
$ 56,872
62%
Administration
199,541
93,336
47%
187,514
203,833
96,380
47%
Newsletter
26,000
10,653
41%
25,287
26,000
7,243
28%
Human Resources
27,913
11,553
41%
15,520
28,431
11,053
39%
Attorney
191,360
78,387
41%
188,644
191,360
78,397
41%
City Clerk
148,599
72,952
49%
147,450
155,608
74,534
48%
Elections
63,881
12,479
20%
17,852
59,781
13,190
22%
Finance
268,129
153,984
57%
258,883
278,660
154,826
56%
Assessing
150,000
145,367
970/a
147,914
154,000
146,403
95%
Information Services
180,722
80,626
45%
149,513
180,597
80,401
45%
Planning & Zoning
462,212
194,989
42%
398,780
438,827
207,020
47%
Engineering
535,715
257,300
48%
511,183
553,765
264,476
48%
Facility Management
681,733
222,401
33%
509,547
678,519
214,941
32%
Total General Gov
3,025.796
1x90503
46%
2,642 23
3,040,679
1,405,736
46
PUBL/CSAFETY
Police Protection
2,962,551
1,481,275
50%
2,962,551
3,053,526
1,526,763
50%
Fire Protection
1,422,522
586,278
41%
1,353,209
1,423,914
597,050
42%
Protective Inspection
446,688
221,580
50%
443,712
462,164
212,704
46%
Civil Defense
24,847
10,686
43%
16,320
32,502
12,105
37%
Animal Control
5,950
1,124
19%
2.544
5,950
935
16%
Total Public Safety
4,862,558
2,300,943
47%
4,778336
4,978,056
2.349,557
47%
PUBLIC WORKS
Streets and Highways
614,668
286,941
47%
597,964
659,943
293,296
44%
Snow and Ice Removal
547,777
245,119
45%
449,881
562,706
402,375
_72%
Street Signs
215,244
97,421
45%
214,540
219,418
100,097
46%
Traffic Signals
37,000
10,582
29%
36,152
37,000
9,527
26%
Street Lighting
38,400
11,314
29%
27,735
40,400
13,677
34%
Street Lights - Billed
217,500
59,627
27%
144,451
220,500
54,948
25%
Park & Recreation
1,275,530
581,481
46%
1,207,359
1,318,395
557,072
42%
Natural Resource Preservation
12,697
585
0%
6,503
15,074
1,568
10%
Recycling
122,221
80,017
45%
169,956
157,216
90,965
58% ,
Total Public Works
3,081,037
1,373,087
45%
2,854,541
3,230,652
1,523,525
47
OTHER
Miscellaneous 31,728 14,550 46% 764,875 31,828 2,040 6%0
Youth Services 38,600 0% 38,600 8,500 22%
Total Other 70,328 14,550 21% 764,875 70,428 10,540 15%
Total Expenditures S 11,039,719 S 5,079,083 46% S 11,039,975 S 11,319,815 S 5,289}58 47
NET INCREASE (DECREASE) S (214,580) S (3,806,137) S (65,043) S (234,577) S (4,055,606)
1685 CROSSTOWN BOULEVARD N.W. • ANDOVER, MINNESOTA 55304 • (763) 755-5100
FAX (763) 755-8923 • WWW.ANDOVERMN.GOV
TO: Mayor and Councilmembers
FROM: Jim Dickinson, City Administrator
SUBJECT: June 2018 City Investment Reports
DATE: July 17, 2018
INTRODUCTION
(i)
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.
DISCUSSION
Attached is the Investment Maturities Summary for June 2018, the June 2018 Investment
Detail Report, and the June 2018 Money Market Funds Report. These attachments are
intended to provide a status report on the June 2018 investments.
ACTION REQUESTED
Informational, for Council review. Staff will provide a brief presentation and answer questions.
Investment Maturities - June 2018
Investment Maturities (in Years)
Credit
Fair
Less Than
More Than
Investment Type
Rating
Value
1
1 -5
6- 10
10
Money market funds
N/A
$ 1,216,282
$ 1,216,282
$
$
$
MN Municipal Money
Market Fund (4M)
N/A
1,018,152
1,018,152
-
-
-
Premier Banks Money
Market Fund
N/A
275,931
275,931
-
-
-
Certificates of deposit
FDIC
11,384,924
6,850,183
4,534,741
-
-
Local governments
A/Al/A2
444,576
121,103
222,506
100,967
-
AAl/AA2/AA3
5,655,572
1,619,196
2,742,015
1,191,200
103,161
AAA
3,925,225
854,226
2,492,692
578,307
-
State governments
A/Al/A2
201,012
-
201,012
-
-
AAl/AA2/AA3
1,163,440
390,068
773,371
-
-
AAA
586,103
125,238
460,864
-
-
U.S. agencies
AAA
8,615,414
3,683,008
4,778,941
153,466
-
FNMA REMIC
N/A
105
105
-
-
-
U.S. agencies
N/A
197,549
197,549
-
-
-
Total investments
$ 34,684,286
$ 16,351,042
$ 16,206,143
$ 2,023,940
$ 103,161
Deposits -
1,181,784
Total cash and investments
$ 35,866,070
June 2018 Investment Detail
Description
Cusip
Number
Credit
RatinglF
DIC #
Type
Purchase Price
Carrying Cost
Maturity
Amount
Interest
Rate
Current Market
Value
Interest Paid
Date
Acquired
Coupon
Date
Maturity)
Due Date
Capital One Bank (USA)
140420ZQ6
33954
CD
245,000.00
245,000.00
245,000.00
0.900%
244,914.25
semi-annual
07/13/16
01/13/17
07/13/18
Key Bank National Association
49306SWQ5
17534
CD
245,000.00
245,000.00
245,000.00
0.850%
244,919.15
semi-annual
07/13/16
01/13/17
07/13/18
Bank of China NY
06426WNJ7
33653
CD
245,000.00
245,000.00
245,000.00
1.500%
244,943.65
maturity
07/20/17
none
07/20/18
First National Bank of Omaha
332135HA3
5452
CD
245,000.00
245,000.00
245,000.00
1.450%
244,914.25
maturity
07/28/17
none
07/27/18
Israel Discount Bank of NY_
Pacific Wastern Bank
BMO Harris Bk
465076JU2
19977
CD
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
1.450%
244,867.70
maturity
08/09/17
none
08/09/18
69506YFTJ
24045 _
16571
CD
245,000.00
1.450%
1.400%
244,867.70
maturity
08/09/17
none
08/09/18
05581WST3
CD
245,000.00
245,000.00
244,808.90
maturity
10/20/17
none
08/20/18
Cathay Bank
149159LR4
18503
CD
245,000.00
245,000.00
245,000.00
1.500%
1.500%
244,779.50
maturity
12/07/17
none
09/07/18
ZB NA
98878BLC0
2270
CD
245,000.00
245,000.00
245,000.00
244,789.30
maturity
12/07/17
none
09/07/18
Beal Bk
07370W5B8
57833
CD
245,000.00
245,000.00
245,000.00
1.500%
244,759.90
maturity
12/13/17
none
09/12/18
BNY Mellon
05584CBA3
7946
CD
245,000.00
245,000.00
245,000.00
1.550%
244,784.40
maturity
12112/17
none
09/12/18
Bank India New York _ _ _
CD F & M Bank
New York Community Bank
06279H4M2
33648
CD
245,000.00
245,000.00
245,000.00
245,000.00
1.450%
244,568.80
maturity
maturity
maturity
10/19/17
10/20/17
12/22/17
none
none
none
02/08/18
10/17/18
10/19/18
10/22/18
11/08/18
12/16/18
12/16/18
12/16/18
01/22/19
02/27/19
02/28/19
04/10/19
30246AFM5
9963
CD
245,000.00
245,000.00
1.350%
244.485.50
649447RD3
16022
CD
245,000.00
245,000.00
245,000.00
2_45,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
1.600%
244,664.35
244,563.90
245,000.00
Amex Centurion Bk
1 Year CD - Premier Bank
1 Year CD - Premier Bank Rochester
1 Year CD - Premier Bank MN
BMW_ Bank of North America
Safra National Bk
02587DU63
1091003210
27471
21714
CD
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
1.550%
maturity
CD
245,000.00
1.500%
maturity
_08/03/17
12/16/17
none
2055214401
33202
CD
245,000.00
1.500%
245,000.00
maturity
maturity
semi-annual
maturity
maturity
maturity
12/16/17
12/16/17
01/22/16
02/28/18
02/28/18
04/11/18
04/20/18
none
none
07/22/16
none
none
none
3041574901
33204
CD
245,000.00
1.500%
245,000.00
244,233.15
05580ADR2
35141
CD
245,000.00
1.600%
786580205
26876
CD
245,000.00
245,000.00
1.950%
1.900%
2.000%
2.100%
2.050%
1.950%
244,529.60
244,443.85
TCF National Bank
872278X76
28330
CD
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
Beak Bank SSB
07370XDZ4
3257_4 _
33686
CD
CD
245,000.00
245,000.00
245,000.00
245,000.00
245,000.00
244,431.60
Bank Hapoalim, BM of NY
06251AT42
244,593.30
maturity
none
04/18/19
Bank Baroda New York
06062RC42
33681
CD
245,000.00
244,478.15
maturity
04/23/18
none
none
04/23/19
Berkshire Bk Pittsfield MA
084601NP4
23204HFAl
23621
34444
CD
CD
245,000.00
245,000.00
245,000.00
245,000.00
22,877.60
101,558.00
102,787.00
45,466.80
245,000.00
245,000.00
245,000.00
244,274.80
maturity
04/24/18
04/24/19
Customers Bank
Banner Bank
First Foundation Bk _ _ _
Oneida County NY
Junction City Kansas
2.000%
244,274.80
semi-annual
02/21/18
08/21/18
08/23/18
05/21/19
05/23/19
06652XFP5
28489
CD
245,000.00
1.850%
244,049.40
semi-annual
02/23/18
32026UFSO
58647
CD
245,000.00
245,000.00
2.000%
244,242.95
semi-annual
02/28/18
08/28/18
05/28/19
6824543R2
Al
local
22,877.60
20,000.00
100,000.00
100000.00
40,000.00
140,000.00
6.250%
20,573.80
100,529.00
100,315.00
40,376.80
semi-annual
semi-annual
semi-annual
semi-annual
08/16/10
none
04/15/19
09/01/18
481502F72
A2
local
101,558.00
5.500%
05/28/08
03/01/09
Farmington MN _
311297W84
762698GK8
454624540
AA
local
102,787.00
2.000%
07/06/16
none
02/01/19
Rice Cnty, MN
AA
local
45,466.80
4.400%
03/07/12
none
02/01/19
Indiana Sl Bond Bank
AA+
local
146,123.60
146,123.60
4.302%
140,233.80
semi-annual
12/30116
none
08/01/18
Ramsey MN
751813/386
AA+
local
158,677.85
158,677.85
145,000.00
4.500%
145,216.05
semi-annual
02/16/12
04/01/16
04/01/19
Minneapolis MN
60374YS73
AA1
local
111,898.00
111,898.00
100,000.00
3.250%
100,415.00
semi-annual
06/05/12
12/01/11
12/01/18
Orange Beach ALA
68406PHFI
AA1
local
241,689.60
241,689.60
240,000.00
4.400%
_
242,397.60
semi-annual
08/05/10
02/01/11
02/01/19
Cedar Rapids IA
150528RM1
AA1
local
217,672.00
217,672.00
200,000.00
3.000%
200,832.00
semi-annual
06/11/13
12/01/13
06/01/19
Multnomah Cnty OR Sch Dist 1J
Sioux City IA
625517JMO
829458FC7
AA1
local
250,000.00
250,000.00
250,000.00
1.450%
247,512.50
semi-annual
08/10/17
12/15/17
06/15/19
06/01/19
AA2
local
156,100.50
156,100.50
155,000.00
2.000%
154,299.40
semi-annual
12/22/16
none
Waterloo IA
941647PAl
AA2
local
50,559.50
50,559.50
50,000.00
2.000%
49,756.00
semi-annual
06/27/13
12101/13
06/01/19
Kane McHenry Cook & De Kalb Zero Cpn
484080MB9
AA3
local
157,328.00
157,328.00
200,000.00
197,842.00
maturity
07/16/12
none
12/01/18
_
Brownsville TX ISD Zero Coupon
116421E46
AAA
local
229,640.00
229,640.00
250,000.00
249,225.00
maturity
06/26/13
none
08/15/18
King Cnty WA
4947401.5
AAA
local
224,634.00
224,634.00
200,000.00
3.980%
201,448.00
semi-annual
03/27/12
none
12/01/18
6,850,182.85 CD
Description
Cusip
Number
Credit
Rating/F
DIC #
Type
Purchase Price
Carrying Cost
Maturity
Amount
Interest
Rate
Curtest Market
Value
Interest Paid
Date
Acquired
Coupon
Date
Maturity 1
Due Date
Minnetonka MN ISD#276
604195RA7
AAA
AAA _
AAA
AA _
AA2
AA2
AAA
AAA
AAA_
AAA
_
AAA
AAA
AAA_
AAA
AAA _
AAA _
AAA
AAA_
AAA _
AAA
AAA
AAA
AAA
_
57803
57203
27314_
628 _
33306
33124
58177
29690 _
58615
57176
17266
_30012
_57056
10988
local
local
37,433.20
87,444.75
37,433.20
87,444.75
262,890.00
35,000.00
75,000.00
300,000.00
200,000.00
3.100%
5.898%
4.500%
1.939%
1.875%
2.970%
2.894%
1.125%
1.200%
5.050%
1.020%
1.375%
1.060%
1.350%
1.250%
1.080%
1.250%
1.700%
1.270%
1.500%
1.375%
1.125%
1.250%
4.500%
1.200%
2.050%
2.050%
1.100%
2.000%
2.050%
1.700%
1.500%
2.000%
2.300%
_ 35,075.25
76,374.00
292,104.00
200,592.00
105,000.00
84,476.40
25,054.25
100,184.00
249,902.50
199,880.00
100,248.00
199,552.00
249,417.50
448,290.00
248,937.50
198,980.00
198,668.00
99,329.00
249,072.50
198,670.00
248,737.50
198,726.00
297,234.00
297,363.00
104.93
98,863.00
98,686.00
13,840,676.13
242,086.95
246,056.46
245,982.36
241,822.35
245,918.14
245,809.46
243,042.45
247,777.41
245,510.59
244,291.95
244,436.50
127,171.84
245,757.59
semi-annual
semi-annual
maturity
semi-annual
12/22/11
07/06/11
12/27/13
01/24/12
12/09/15
01/26/18
02108/12
08/10/11
07/07/17
07/30/12
09111/13
03/30/17
11/03/17
08121/17
07107/17
06/16/17
10/30/12
01/07/13
07/07/17
06/16/17
07/07/17
06/22/17
12/14/17
07/19/17
07/30/03
12/29/14
04117/15
06/30/16
07/03/14
07/11/14
07/15/16
07/21/14
07/23/14
08/09/17
none
02/01/19
06/01/19
Palm Beach Cnty FLA
Tenn Val Auth Cpm Strip Zero Cpn
Washington State
New Hampshire St Hag
Colorado St Hall &Fin Auth
Georgia State
Texas State
Fed Nall Mtg Assn
Fed Home Ln Mlg Corp Med Term Note
Fed Farm Credit Bank _
Fed Farm Credit Bank
Fed Home Ln Bank
Govt Nad Mtg Assn
Fed Farts Credit Bank
Fed Farts Credit Bank
Fed Nag Mtg Assn
Fed Farts Credit Bank _ _
Fed Farm Credit Bank
Fed Farm Credit Bank _
Fed Home Ln Bank _
Fed Nall Mtg Assn
Fed Home Ln Mi Corp
Fed Nall Mtg Assn _ _
Fed Nall Mlg Assn Remic _
FICO Strip Cpn13 Zero Coupon_ _
FICO Strip Cpn Zero Coupon
Ally Bank Midvale Utah
Barclays Bank _
Synchrony Bank
JP Morgan Chase Bank NA
PrivateBank & Trust Cc _
Goldman Sachs Bank USA
Sallie Mae Bank
First Federal Svgs Bk_
Victory Bank _ _
CommerceWest Bank N/A
Umpqua Bk Roseburg Ore
Third Federal Sav&Loan _ _ _ _
Celtic Bank _
Steams Bank NA _
Jefferson Bk&Tr Cc
696497TR7
none
88059EWZ3
939758DL9
64469DWV9
1964791
373384RQ1
882722,151
local
262,890.00
none
06115/19
state
205,804.00
205,804.00
105,625.80
84,864.00
26,742.50
103,089.00
249,677.50
200,000.00
114,000.00
199,462.00
249,862.50
448,245.00
249,870.00
199,711.60
199,300.00
99,587.00
251,285.00
199,654.80
250,470.00
200,000.00
297,417.00
299,700.00
107.27
93,140.00
94,480.00
245,000.00
247,000.00
247,000.00
245,000.00
247,000.00
247,000.00
245,000.00
249,000.00
247,000.00
245,000.00
245,000.00
128,000.00
247,000.00
247,000.00
04/01/12
10/01/18
07/01/18
05/01/19
10/01/18
10/01/18
07/20/18
07/30118
state
105,625.80
105,000.00
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
monthly
maturity
maturity
semi-annual
semi-annual
semi-annual
quarterly,
semi-annual
semi-annual
semi-annual
07/01/16
none
none
state
84,864.00
26,742.50
103,089.00
85,000.00
25,000.00
100,000.00
250,000.00
state
stale
US
04/01/12
3135GOE33
249,677.50
07/20/15
3134G3ZK9
US
US
US
200,000.00
200,000.00
01/30/13
311331Y4136AAA
114,000.00
100,000.00
200,000.00
250,000.00
450,000.00
250,000.00
200,000.00
200.000.00
none
08/01118
09/24/18
11/02/18
3133EGK87
3130ACR89
3136G1LU1
3133EHQF3
3133EG3Xi
3136GOY70
_3133EC5NO
3133EDTU6
3133EHLZ4
3133782M2
313661 FYO
199,462.00
249,862.50
448,245.00
249,870.00
199,711.60
199,300.00
99,587.00
251,285.00
199,654.80
250,470.00
200,000.00
297,417.00
299,700.00
204,187.50
93,140.00
94,480.00
245,000.00
247,000.00
247,000.00
245,000.00
247,000.00
247,000.00
none
05/02/18
none
01/07118
07117/17
01/30/13
03/04/13
03/04/15
09/06/17
09/08112
none
10/15/16
US
US
11/14/18
US
01/07/19
US
01/17/19
US
01/30/19
03/04/19
03/04/19
03/06/19
03/08/19
03/13/19
04/15/19
04/26119
08/25/18
12/27/18
US
100,000.00
250,000.00
200,000.00
250.000.00
200,000.00
300,000.00
300,000.00
105.07
100,000.00
US
US
US
US
US
US
US
US
3137EADZ9
3135GOK28
10/26/16
31393EAL3
31771C2G9
31358BAA6
02006LF32
06740KH86
87164WBT4
48125Y5L4
74267GUQB
38147JU59
none
none
none
12/30/16
01/02/15
01/11/15
10/15/16
US
100,000.00
02/01/19
07/01/19
07/02/19
245,000.00
247,000.00
247,000.00
245,000.00
247,000.00
247,000.00
CD
CD
CD
07/11/19
CD
07/15/19
07/22/19
07/23/19
08/09/19
08/21/19
09/24/19
10/25/19
10/28/19
11/25/19
12/20119
12/26/19
04/10/20
CD
01/21/15
01/23/15
CD
CD
CD
795450895
245,000.00
245,000.00
02109/18
32021YCH4
249,000.00
249,000.00
monthly
01/21/16
02/21/16
926441AB8
CD
CD
CD
247,000.00
247,000.00
semi-annual
09/24/14
03/24/15
20084TKXO
245,000.00
245,000.00
semi-annual
04/25/18
10/25/18
90421MBZ5
88413QAW8
15118RJMO
245,000.00
245,000.00
2.350%
2.000%
2.050%
semi-annual
semi-annual
04/27118
11/24/14
10/27/18
CD
128,000.00
247,000.00
247,000.00
128,000.00
247,000.00
05/24/15
CD
semi-annual
semi-annual
semi-annual
12/20/13
12/26/14
04/11/18
06/20/14
857894PB9
CD
247,000.00
1.000%
245,211.72
243,850.95
06/26/15
_
472376AD4
1071
CD
245,000.00
245,000.00
245,000.00
2.450%
10/11/18
2,594,525.20 local
515,306.65 state
3,880,661.43 US
Less Than 1 year
Description
Cusip
Number
Credit
Rating/F
DIC #
Type
Purchase Price
Carrying Cost
Maturity
Amount
Interest
Rate
Curt Market
Val
Value
Interest Paid
Date
Acquired
Coupon
Date
Maturity/
Due Date
CitiBank NA
17312QJ34
7213
CD
245,000.00
245,000.00
245,000.00
2.550%
244,262.55
244,049.40
semi-annual
semi-annual
04/11/18
04/11/18
10/11/18
04/13/20
Discover Bk Greenwood Del
254673NR3
5649
CD
245,000.00
245,000.00
245,000.00
2.500%
10/11/18
04113/20
Citizens Alliance Bank
17318LAP9
1402
CD
249,000.00
249,000.00
249,000.00
2.000%
246,298.35
monthly
06/27/14
07/27/14
06/26/20
Enerbank USA
29266NA31
57293
CD
249,000.00
249,000.00
249,000.00
2.100%
245,404.44
monthly
07/18/14
08/18/14
07/20/20
Elbow take MN
284281KC5
A
local
170,045.70
170,045.70
165,000.00
2.750%
163,765.80
semi-annual
12/08/14
none
12/01/19
Kaufman TX
486206KR5
A3
local
61,821.00
61,821.00
60,000.00
3.000%
58,740.60
246,660.00
semi-annual
06/28/16
05/16/18
02/15/17
none
none
none
02/15/23
Mounds View MN ISD #621
Rothsay MN SID #850
Steams Co MN _
Greenway MN ISD#31
Minneapolis MN
Hampton VA
620637V70
778731AZ2
857896MH4
AA+
AA+
AA+
local
local
local
246,875.00
208,640.25
276,875.00
246,875.00
208,640.25
276,875.00
27,593.50
250,000.00
195,000.00
1.900%
semi-annual
semi-annual
02/01/20
3.000%
199,112.55
250,357.50
07/06/16
02/01/20
250,000.00
4.500%
semi-annual
semi-annual
semi-annual
semi-annual
04/17/13
06/01/20
39678LDF6
60374YS81
4095582J1
AA+
AA1
AA1
local
27,593.50
25,000.00
5.000%
25,298.00
07/09/13
none
none
03/15/21
local
278,632.50
278,632.50
250,000.00
3.500%
252,900.00
99,132.00
02/26/13
12/01/19
local
100,836.00
100,836.00
100,000.00
100,000.00
2.209%
3.750%
2.450%
4.700%
3.150%
2.400%
01/20/16
none
04/01/20
09/01/20
Middleton WI
596782RX2
AA1
local
106,979.00
106,979.00
100,199.00
semi-annual
02/24/15
none
Des Moines IA Area Cmnty Col
250097H21
AA1
local
50,606.00
50,606.00
50,000.00
49,237-00
semi-annual
11/10/14
10/31/11
08/16/11
12101/14
06/01/21
Minneapolis MN
60374YG68
AAi
local
110,419.00
110,419.00
100,000.00
101,300.00
semi-annual
none
03/01/23
Western Lake Superior MN
958522WU4
AA2
local
100,000.00
100,000.00
100,000.00
295,000.00
100,683.00
semi-annual
04/01/12
10/01/19
Portsmouth VA _
Brunswick Cnty
Fon Du Lac Cnty WI
Alexandria MN ISD#206
Moorhead MN
73723RSL8
AA2
local
286,268.00
286,268.00
293,681.35
107,179.60
251,185.00
268,126.20
101,545.00
semi-annual
07/17/13
02/01/14
02/01/20
117061VH1
344442KK3
015131LQ6
AA2
AA2
AA2
local
108,967.10
108,967.10
110,000.00
1.740%
semi-annual
08/21/15
none
05/01/20
local
259,715.00
259,715.00
250,000.00
3.250%
semi-annual
03/10/17
none
03/01/21
local
279,760.50
279,760.50
270,000.00
3.000%
3.800%
semi-annual
01/21/15
none
02/01/23
6161412R7
AA3
local
108,820.00
108.820.00
100,000.00
semi-annual
11/14/11
none
02/01/20
_ _
Whitewater Wis
966204KA6
AA3
local
_
109,541.00
109,541.00
100,000.00
4.850%
104,687.00
semi-annual
06/09/11
none
12/01/20
West Bend Wl
951428BNO
AA3
local
97,805.00
101,245.00
97,805.00
101,245.00
122,464.80
366,832.80
100,000.00
100,000.00
120,000.00
360,000.00
1.900%
96,164.00
semi-annual
semi-annual
01/11/18
none
04101/22
10/01/22
08/01/19
W Palm Beach FL
955116BE7
AQ
local
2264%
94,568.00
07/05/16
10/01/16
Norwalk Conn
668844DS9
AAA
local
122,464.80
366,832.80
4.050%
3.263%
2.000%
3.250%
4.450%
2.000%
120,139.20
semi-annual
semi-annual
08/04/10
07/15/11
08/01/11
Greensboro NC
39546OV21
AAA
local
363,351.60
none
10/01/19
Saint Paul MN Port Auth
793028WSB
97913PCQ7
AAA
AAA
local
local
201,806.00
123,037.35
201,806.00
123,037.35
200,000.00
115,000.00
197,604.00
semi-annual
12/22/16
08/01/17
none
02/01/20
Woodbury MN
115,454.25
102,958.00
78,576.80
284,772.00
semi-annual
12/22/11
02/01/20
Dallas TX Indpt Sch Dist
235308QK2
AAA
local
116,900.00
116,900.00
100,000.00
semi-annual
04/16/12
08115/11
09101/17
none
06115/13
02/15/20
Saint Paul MN Port Auth
Tenn Valley Auth Zero Cpn _
Salt Lake County UT
793067CC1
88059EHD9_
795676QL2
88059EMX9
579086AW9
45528UGF2
AAA
AAA_
AAA
AAA
AAA
AAA
local
local
local
local
local
local
79,756.80
263,970.00
368,212.50
88,133.00
175,000.00
251,507.50
79,756.80
263,970.00
80,000.00
semi-annual
01/10/17
03/01/20
05/01/20
06/15/20
07/15/20
08/15/20
01/15/21
300,000.00
maturity
03/11/13
368,212.50
375,000.00
1.800%
368,047.50_
semi-annual
05/18/18
_
Tenn Val Auth Cpn Strip Zero Cpn
88,133.00
100,000.00
94,361.00
maturity
semi-annual
03/18113
07/26/16
none
02/15/17
McAllen TX Dev Corp
175,000.00
175,000.00
1.400%
169,912.75
Indianapolis Ind
251,507.50
250,000.00
2.219%
246,622.50
semi-annual
07111/17
07/15/13
Baltimore Cnty MD
05914FME7
AAA
local
51,290.00
51,290.00
50,000.00
2.097%
48,939.00
semi-annual
08131/16
none
08/01/21
New York St Mtge Agy
64988RHGO
AAA
local
100,000.00
100,000.00
100,000.00
40,000.00
2.375%
97,162.00
semi-annual
semi-annual
semi-annual
10/27/15
02/20/15
11/07/17
04/01/16
10/01/21
Columbus OH
199492CS6
AAA
local
39,956.40
39,956.40
2.133%
38,767.60
none
12/01/21
11/01/22
Outagamie Cnty Wl
689900898
AAA
local
170,000.00
170,000.00
170,000.00
2.350%
166,023.70
05/01/18
Connecticut State
20772JQN5
Al
state
214,954.00
214,954.00
200,000.00
3.517%
2.090%
2.995%
201,012.00
197,890.00
semi-annual
05/27/16
02/15/14
11/01/14
07/01/13
08/15/21
05/01/20
07/01/20
Massachusetts State
57582P2T6
AA1
state
199,744.00
199,744.00
200,000.00
semi-annual
12/17/14
Florida St Hurricane
34074GDH4
AA3
state
279,439.80
279,439.80
270,000.00
270,761.40
semi-annual
11/10/15
Minnesota St Colleges & Univ
60414FPJ3
AA3
state
100,000.00
100,000.00
100,000.00
2.000%
98,252.00
semi-annual
02/26/15
10/01/15
10/01/20
Florida St Dept Environmental
34160WUAO
AA3
state
217,800.00
217,800.00
200,000.00
6.206%
206,468.00
semi-annual
08/30/10
07/01/10
07/01/22
4,534,741.46 CD
5,457,213.50 local
Description
Cusip
Number
Credit
RatinglF
DIC #
Type
Purchase Price
Carrying Cost
Maturity
Amount
Interest
Rate
Current Market
Value
Interest Paid
Date
Acquired
Coupon
Date
Maturity/
Due Date
Tennessee State
Virginia State
880541 QQ3
928109XD4
AAA
state
48,218.85
22,126.00
48,218.85
22,126.00
45,000.00
3.178%
45,477.00
semi-annual
semi-annual
08/30/16
02/07/12
02/01/12
none
08/01/20
06/01/21
AAA
state
20,000.00
4.100%
20,291.40
Kentucky St Hag Corp
49130TSHO
AAA _
state
203,458.00
203,458.00
200,000.00
2.780%
197,506.00
semi-annual
03/29/17
none
07/01/21
Georgia State
3733842Q8
AAA_
AAA
AAA
AAA
state
204,444.00
204,444.00
200,000.00
2.780%
197,590.00
semi-annual
12/13/16
none
02/01/23
Fed Home Ln Mtg Corp_
313766K2
US
249,035.00
249,035.00
250,000.00
1.250%
1.050%
246,867.50
196,912.00
298,413.00
semi-annual
07/07/17
02/01/13
08/01/19
Fed Home Ln Mtg Corp Med Term Note
Fed Home Ln Bank
31346961.6
US
200,000.00
200,000.00
200,000.00
quarterly
08/23/16
11/23/16
08/23/19
313383VN8
US
301,065.00
301,065.00
300,000.00
300,000.00
2.0001/6'
1.160%
semi-annual
12/07/17
none
09/13/19
Fed Fane Credit Bank
Fed Farm Credit Bank
3133EGVJ1
_
AAA
US
297,300.00
297,300.00
248,227.50
295,008.00
semi-annual
12/08/17
none
09/26/19
3130ACLS1
313OA8NRO
AAA
US
248,227.50
250000.00
300,000.00
1.550%
1.125%
247,175.00
semi-annual
01/04/18
04/11/18
10/11/19
Fed Home Ln Bank
AAA
US
294,603.00
294,603.00
294,888.00
semi-annual
04/10/18
10/11/16
10/11/19
RFCSP Strip Principal Zero Coupon
76116FAA5
AAA
US
185,568.00
185,568.00
200,000.00
193,594.00
maturity
07/22/15
none
10/15/19
Fed Nall Mtg Assn
3135GOJ95
AAA
US
98,570.00
98,570.00
100,000.00
1.350%
98,342.00
semi-annual
02/09/18
10/28/16
11/25/16
_ none
none
none
10/28/19
11/25/19
11/29/19
12/16/19
01/09/20
01/17/20
Fed Farm Credit Bank
3133EGSKO
AAA
US
199,600.00
950,527.00
223,031.25
147,300.00
199,600.00
950,527.00
200,000.00
1.300%
196,624.00
semi-annual
05/25/16
Fed Home Ln Mtg Corp Zero Cpn_
Fed Farm Credit Bank
3134008V4
AAA
US
US
1,000,000.00
962,610.00
maturity
11/02/15
3133EGFR1
AAA
223,031.25
225,000.00
1.330%
220,657.50
semi-annual
11/03/17
Fed Home Ln Bank_
Fed Home Ln Mtg Corp
313381 ND3
AAA
AAA
AAA
AAA _
AAA_
AAA
US
US
147,300.00
150,000.00
1.450%
147,523.50
semi-annual
03/23/18
3137EAEE5
313OA3XL3
3134GBS78
297,912.00
297,912.00
300,000.00
1.500%
1.500%
295,287.00
98,351.00
semi-annual
12/07/17
07/17/17
Fed Home Ln Bank
US
99,500.00
99,500.00
100,000.00
semi-annual
semi-annual
semi-annual
semi-annual
semi-annual
07/22/15
10/27/17
12/07/17
05/21/18
12/28/16
08/10/15
04/27/18
05/17/18
06/21/18
06/28/17
02/10/20
10/27/20
11/17/20
12/21/20
12/28/20
02/01/28
Fed Home Ln Mtg Corp Med Term Note
US
US
200,000.00
200,000.00
200,000.00
1.500%
197,376.00
Fed Home Ln Mtg Corp
3137EAEK7
299,193.00
299,193.00
300,000.00
1.875%
294,456.00
Fed Farm Credit Bank
3133EJPW3
US
299,769.00
299,769.00
300,000.00
200,000.00
2.700%
300,162.00
Fed Natl Mtg Assn
3136G4JM6
AAA
US
200,000.00
200,000.00
105,024.00
1.850%
194,694.00
16,206,143.26
A
local
105,024.00
Itasca County Minn
465452GP9
100,000.00
5.550%
4.000%
100,967.00
91,413.00
semi-annual
07/12/11
none
Chaska MN
1616636S3
AA
local
94,191.30
116,702.00
103,933.00
94,191.30
116,702.00
103,933.00
106,941.00
90,000.00
semi-annual
09/08/14
12/20/11
05/11/11
07/22/11
12/09/14
12/27/17
none
06/15/19
none
none
none
05/01/19
02/01/24
06/15/24
02/01/25
02/01/27
03/01/24
05/01/27
Mitchell SD Sch Dist #17-2
606687EHO
AA
local
100,000.00
6.000%
103,143.00
semi-annual
semi-annual
semi-annual
Lake City Minn ISD #813
508084DW7
AA+
local
100,000.00
5.000%
102,287.00
_
MilawMinn ISD #912
598699NT9
AA+
local
106,941.00
72,201.35
262,025.00
100,000.00
5.650%
101,447.00
_
Minneapolis MN
60374YG76
AA1
local
72,201.35
262,025.00
65,000.00
4.800%
65,878.80
semi-annual
semi-annual
semi-annual
maturity
Ann Arbor Ml
035438CF5
AA1
local
250,000.00
5.750%
255,960.00
Duluth MN
264438ZL9
AA2
local
29,767.20
29,767.20
30,000.00
2.625%
28,784.10
12/05/12
08/01/13
02/01/25
Will County IL Cmnty Zero Coupon
969078QM9
AA2
local
159,000.00
159,000.00
500,000.00
341,055.00
08/25/09
none
11/01/27
Hawkins Cnty TN
420218PL7
AA3
local
111,480.00
111,480.00
100,000.00
4.800%
101,232.00
semi-annual
03/13/12
none
05/01/24
Savage Minn
80465PAN4
AAA
local
198,018.00
198,018.00
200,000.00
4.800%
204,344.00
123,963.00
250,000.00
37,186.00
116,280.00
semi-annual
06/17/10
02/01/11
02/01/24
11/01/25
01/01/26
Tennessee Valley Aulh Ser E
880591CJ9
AAA
local
121,500.00
121,500.00
100,000.00
6.750%
2.100%
5.250%
semi-annual
03/19/09
none
Ice Deposit- National Sports Center
none
local
250,000.00
250,000.00
250,000.00
maturity
02/06/08
none
Fed Home Ln Bank
313OA8W33
31331 V_LC8_
AAA
US
39,000.00
39,000.00
40,000.00
100,000.00
semi-annual
07/27/17
08/22/17
08/22/25
Fed Farm Credit Bank
AAA
US
106,030.45
106,030.45
semi-annual
02/26/10
none
04/21/28
2,023,939.90
Van Buren Mich Public Schools
920729HD5
W
local
102,750.00
102,750.00
100,000.00
6.430%
103,161.00
semi-annual
07/17/09
11/01/09
05/01/29
103,161.00
32,173,920.29
1,435,247.80 state
4,778,940.50 US
1- 5 Years
1,870,473.90 local
153,466.00 US
6 -10 Years
103,161.00 local
10+ Years
INVESTMENT SCHEDULE - Money Market Funds
June 30, 2018
Description
Current Market
Value
YTD Interest
Wells Fargo
1 1wells Fargo Government Money Market Fund
1 $1,216,282.131
$13,553.26
4M
1 14M
1,011,168.681
6,570.85
4M PLUS
I 14M Plus
6,983.621
49.58
Premier Bank
1 I Premier Bank Money Market
275,931.30
341.83
Grand Total Money Market Funds $2,510,365.73 $20,515.52
Updated. 7110/2018