The URL can be used to link to this page

2025-03-11 - AGE - City Council Work Session March 11, 2025 — 6:30 PM Golden Valley City Hall Council Conference Room 1.NWSCCC/CCX Media Update 2.Review Quarterly Report for Select City Funds 3.Council Review of Future Draft Agendas CITY COUNCIL WORK SESSION AGENDA Council Work Sessions have an informal, discussion-style format and are designed for the Council to obtain background information, consider policy alternatives, and provide general directions to staff. No formal actions are taken at work sessions. The public is invited to attend Council Work Sessions and listen to the discussion; public participation is only allowed by invitation of the City Council. Discussion Item(s) City of Golden Valley City Council Work Session March 11, 2025 — 6:30 PM 1 EXECUTIVE SUMMARY City Manager's Office 763-512-2345 / 763-512-2344 (fax) Golden Valley City Council Work Session March 11, 2025 Agenda Item 1. NWSCCC/CCX Media Update Prepared By Elinorah SINYEMBO, Executive Assistant Summary Shannon Slatton Schwartz from CCX Media will give an update to the City Council. Recommended Action Council will receive presentation and provide feedback. 2 EXECUTIVE SUMMARY Finance 763-512-2345 / 763-512-2344 (fax) Golden Valley City Council Work Session March 11, 2025 Agenda Item 2. Review Quarterly Report for Select City Funds Prepared By Lyle Hodges, Finance Director Summary This is a presentation on the financial status of select City funds as of December 31, 2024. This is a preliminary view of revenues, expenses, fund balance and cash position where applicable. During the course of preparing for the audit, required accounting entries will impact the final numbers that will be presented later in the Annual Comprehensive Financial Report. However, this report provides an updated review of actual activity compared to budgets at this point in time. Financial or Budget Considerations No direct financial impacts, informational report only. Recommended Action Receive and file a presentation on the fourth quarter 2024 financial status report of select City funds. Supporting Documents 2024 Q4 Report Presentation.pptx Q4 2024 Financial Status Report.pdf 3 Fourth Quarter 2024 Financial Status Update City Council Work Session March 11, 2025 4 Quarterly Report Overview •Financial report as of December 31, 2024: •General Fund •Collected 107.1% of the budgeted revenue while spending only 92.2% of the expenditure budget. •Overall cash and fund balance increased by approximately $4.2M •Special Revenue and Capital Project Fund •Spent close to budget in the Community Services Commission and Brookview funds •Includes the operational budget of the HRA •Enterprise Funds •Planned capital investments were projected to decrease cash, but actual spending was less than planned resulting in cash increases in all funds •Operational gains were also recognized in all enterprise funds 5 General Fund Summary •Overall, General Fund revenue finished over budget by approximately $2.1M or 7.1% •Permit Revenue finished the year $1.8M over budget •Tax collections finished the year $1.1M under budget which was 96.0% of the budgeted amount. In 2023, the City collected 97.0% of the budgeted property taxes •Investment earnings came in over $1M compared to the budgeted amount of $125,000 •Other revenue categories finished 2024 relatively close to budget •Since 2020, the General Fund has received an average of 104.8% of total budgeted revenues •Overall, General Fund spending finished 2024 $2.4M or 7.8% under budget, largely due to personnel expense savings •Nearly all departments finished the year under budget •Police and Fire have the largest dollar savings which relates to personnel savings •Around 60% of the General Fund budget is for personnel (salary and benefits) so staffing levels, hiring replacements, and other personnel related changes are impactful to overall spending •Since 2020, the General Fund has spent an average of 97.2% of total budgeted expenditures 6 General Fund Summary Note – City Management & Admin. includes City Council, City Manager, Legal, Admin Services, Communications, Finance, and Insurance.Public works includes Building Maintenance, Park Maintenance, and Streets. Revenues 2023 Budget 2023 Year End Actual 2024 Budget 2024 Year End Variance to Budget Actual Amount as a Percent of Budget 2025 Adopted Budget Property Taxes 24,843,020$ 24,097,267$ 26,613,525$ 25,539,119$ (1,074,406)$96.0%27,800,845$ Licenses Fees Permits 1,231,020 3,276,286 1,613,270 3,496,008 1,882,738 216.7%2,010,325 Charges for Service and Fines 605,270 1,795,576 666,795 932,654 265,859 139.9%718,430 Transfers In 895,000 881,647 895,000 770,200 (124,800) 86.1%895,000 Investment Earnings & Other 294,900 1,026,058 322,100 1,501,087 1,178,987 466.0%361,100 Total Revenue 27,869,210 31,076,834 30,110,690 32,239,068 2,128,378 107.1%31,785,700 Expenditures City Management & Admin 5,725,350 5,436,157 6,364,135 6,168,954 195,181 96.9%7,168,458 Police 7,705,215 6,087,127 8,533,560 7,790,188 743,372 91.3%2,506,743 FIre 2,184,600 1,812,500 2,318,220 2,005,005 313,215 86.5%8,021,047 Public Works 5,217,140 5,382,251 5,631,150 5,263,933 367,217 93.5%6,094,756 Parks & Recreation 1,453,140 1,241,464 1,528,070 1,174,464 353,606 76.9%1,583,750 Community Development 2,383,765 2,186,544 2,610,555 2,221,661 388,894 85.1%2,985,946 Contingencies - - - - - 150,000 Transfers Out 3,200,000 3,515,000 3,375,000 3,375,000 - 100.0%3,275,000 Total Expenditures 27,869,210$ 25,661,043$ 30,360,690$ 27,999,205$ 2,361,485$ 92.2%31,785,700$ Change in Fund Balance (250,000) 4,239,863 - Fund Balance January 1 22,749,110 22,749,110 26,988,973 Fund Balance December 31 (Unaudited)22,499,110$ 26,988,973$ 26,988,973$ City of Golden Valley General Fund Financial Status Report As of December 31, 2024 (unaudited) 7 General Fund Summary - 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 2020 Actual 2021 Actual 2022 Actual 2023 Actual 2024 Actual General Fund Revenue & Expenditure with Change in Cash and Fund Balance 2020-2024 Expenditure Revenue Cash Fund Balance •Cash balance as of December 31, 2024, is $29.3M, an increase of $4.2M over 2023 cash of $25.1 million •Fund Balance as of December 31, 2024, is $27.0 million, an increase of $4.2 million compared to year-end 2023 fund balance of $22.8M 8 Special Revenue Funds •Special revenue funds account for revenue that is restricted for use on specific activities. Fund balance is reported as restricted or committed for the intended use •There are two Special Revenue Funds in this Report: •Community Services Commission – accounts for the activity of the CSC with revenue from local gambling (pull tabs) and fundraisers. Expenditures of the fund go to local organizations that address human services needs. •Revenue finished the year $7,870 over budget and expenditures finished 2024 $10,317 over budget. Ending fund balance is $155,368 •Brookview Facility – accounts for the activity of the Brookview Facility with revenue from room rental and fees for use of the indoor play area with expenditures to support those functions •Revenue finished the year $7,107 over budget while expenditures were $268,437 under budget. Fund balance finished the year at $743,482. 9 Housing & Redevelopment Authority (HRA) •For 2024, the HRA collected revenue from the property tax levy and a new source of funding in Local Affordable Housing Aid (LAHA). •Expenditures include operations and the purchase of properties under the HOPE program. The operating statement to the right shows details. 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Taxes 284,880$ 276,451$ (8,429)$ 314,181$ State Aid - 137,095 137,095 137,095 Investment Earnings - 13,359 13,359 - Total Operating Revenue 284,880 426,904 142,024 451,276 Operating Expenses Personnel 189,980 142,128 47,852 191,181 Materials/Supplies 500 172 328 300 HOPE Home Acquisition 315,000 270,000 45,000 - Contractual Services 94,400 78,829 15,571 259,795 Total Operating Expenses 599,880 491,130 108,750 451,276 Operating Revenue Over/ (Under) Expense (315,000) (64,225) 33,274 - Change in Fund Balance (315,000)$ (64,225)$ -$ Fund Balance at January 1 423,238$ 423,238$ 359,013$ Fund Balance at December 31 108,238$ 359,013$ 359,013$ Housing and Redevelopment Authority Capital Project Fund Operating Statement Through December 31, 2024 (unaudited) 10 Enterprise Funds •Enterprise funds operate as business-type activities. These funds sell products or services outside the organization and use the proceeds to support operations, capital investments, debt service and transfers. •There are five enterprise funds at the City – Utility (Water & Sewer), Storm Sewer, Recycling, Brookview Golf Course, and the Motor Vehicle fund. 11 Enterprise Funds •In the snapshot below, you can see the difference between operating gains and the change in cash position for each enterprise fund. •Operating gains are most often used to pay for capital projects, transfers and debt service costs. Fund Operating Revenue Operating Expense Operating Gain/(Loss) Change in Cash Position Utility 14,469,652$ 7,982,701 6,486,951 2,376,228$ Storm Sewer 3,367,032$ 965,776 2,401,256 1,762,176$ Recycling 1,145,120$ 1,005,181 139,939 64,939$ Brookview Golf Course 4,979,174$ 3,852,325 1,126,849 892,715$ Motor Vehicle 537,318$ 475,088 62,230 2,230$ 12 City of Golden Valley Financial Status Report of Select Funds as of December 31, 2024 13 ExecuƟve Summary City of Golden Valley Interim Financial Report as of December 31, 2024 Overall, the City of Golden Valley is in a stable ﬁnancial posiƟon with planful spending and higher than expected revenue allowing the City to deliver services in a cost-effecƟve and efficient manner. Moderate growth was shown in the General Fund cash and fund balances while cash also increased slightly in the uƟlity enterprise funds including water, sewer, and storm water. This reﬂects less-than-planned capital spending. This report covers the ﬁnancial acƟvity of various funds of the City of Golden Valley through December 31, 2024. Once per year, aŌer a complete audit, the City issues official ﬁnancial statements Ɵtled the Annual Comprehensive Financial Report (ACFR). Unlike the formality of the fully audited annual report, this interim report is meant to provide a snapshot of the primary operaƟng funds of the city, comparing budgets to actual, and providing preliminary informaƟon for year-end revenue and spending. The report contains a summary of ﬁnancial acƟvity for the General Fund, certain Special Revenue Funds, the HRA Capital Project fund, and the City’s Enterprise funds. Generally accepted accounƟng principles (GAAP) for governments as set forth by the Governmental AccounƟng Standards Board (GASB), require that different types of funds use different accounƟng measures. While these statements do not strictly adhere to full GAAP reporƟng, the ﬁnancial statements and analysis that follow use slightly different terms depending on the type of fund under discussion and the measurement focus of the accounƟng methodology we’re expected to use. For a complete lisƟng of the accounƟng principles used in our audited ﬁnancial reporƟng, please see Note 1 of the City’s ACFR. While the City looks forward to ongoing ﬁnancial stability with a new City Manager and several new department leaders starƟng in 2024, we remain aware of the external economic inﬂuences that impact all local governments. We expect to close out our American Rescue Plan act spending by the end of 2025 with investments in capital projects and operaƟonal revenue replacement. This (2024) is also the ﬁnal year of the City’s Pavement Management Program before switching to the Infrastructure Renewal Program (IRP) to maintain the city’s vital infrastructure assets. The 2025 Budget was adopted by Council in December of 2024 and looks to make investments in employee engagement and training, organizaƟonal and community strategic planning, and increased operaƟonal costs. 1 14 General Fund Analysis City of Golden Valley as of December 31, 2024 Overview The City’s General Fund is used to account for all ﬁnancial acƟvity not required to be accounted for in another fund. This fund reports the proceeds of the general property tax levy as well as various fees, permits, and licenses. We account for the acƟvity of many operaƟng departments in the General Fund including Police, Fire, City Manager, Legal and City Clerk, Finance, Community Development, Parks and RecreaƟon and several Public Works departments such as Building Maintenance, Park Maintenance, and Streets. Revenue The City’s property tax levy comprises approximately 88.4% of budgeted General Fund revenue. Taxes are received from Hennepin County in two payments throughout the year resulƟng in large jumps in revenue in July and December. The remainder of revenues in the General Fund are Licenses, Permits, Fees for Public Works and Park and RecreaƟon services, and Investment Earnings. Through December 31, 2024, the General Fund collected approximately 107.1% of budgeted revenue compared to collecƟng 111.5% of budgeted revenue through the same period in 2023. In total, the General Fund collected $2,128,378 more revenue than was budgeted. Property Tax CollecƟons were under budget, but that was more than offset by permits and investment earnings that were more than $2.7 million over budget. Property taxes came in at 96.0% of the current year’s levy which is just under 2023 collecƟon rates of 97.0% of budget. In addiƟon, the General Fund recognized around $200,000 of ARPA revenue replacement dollars as part of the ﬁnal ARPA appropriaƟon process. Expenditure The departments in the General Fund operate under a budget adopted by the City Council. The originally adopted budget for 2024 was balanced, however carryover items from 2023 to 2024 increased the expenditure budget by $250,000. Approximately 60.0% of the expenditure budget in the General Fund is dedicated to personnel including salaries, insurance, and other beneﬁts. In addiƟon, 11.1% of the General Fund budget is for transfers to various funds to offset the cost of capital improvements and other acƟviƟes. The remaining 28.9% of the budget is for materials and supplies, contractual services, and charges from other City funds such as vehicle maintenance. Through the end of 2024, departments in the General Fund spent 92.2% of the total expenditure budget. That is nearly an idenƟcal percentage of the budget spent in 2023 when the General Fund spent 92.1% of the budget. There were two operaƟng departments that exceeded budget, including City Manager and Finance. The City Manager implemented several necessary programs to respond to staff needs and broader City programs. Finance saw unusually high costs associated with using a contractor for interim staffing needs at the Finance Director posiƟon. Cash and Fund Balance The General Fund cash balance as of December 31, 2023, was $25,155,107 and the cash balance as of December 31, 2024, is $29,328,695. Fund balance at the end of 2023 was $22,499,110 and the unaudited fund balance as of December 31, 2024 is $26,988,971 or 84.9% of the 2025 Adopted Budget. This represents an increase to fund balance of $4,239,863 due to the previously discussed over-collecƟon of revenue and under-spending of expenditures. 2 15 Revenues2023 Budget2023 Year End Actual 2024 Budget2024 Year End ActualVariance to BudgetActual Amount as a Percent of Budget2025 Adopted BudgetProperty Taxes24,843,020$ 24,097,267$ 26,613,525$ 25,539,119$ (1,074,406)$ 96.0% 27,800,845$ Licenses231,555 238,758 238,805 285,517 46,712 119.6% 253,925 Permits988,650 3,024,263 1,363,650 3,177,563 1,813,913 233.0% 1,739,650 Grants and Fines175,920 1,210,562 115,920 404,363 288,443 348.8% 143,280 Government Fees10,815 13,265 10,815 32,929 22,114 304.5% 16,750 Public Safety35,700 48,348 36,550 40,471 3,921 110.7% 44,150 Public Works183,625 208,702 198,625 193,606 (5,019) 97.5% 207,300 Park and Recreation210,025 327,965 315,700 294,215 (21,485) 93.2% 323,700 Transfers In895,000 881,647 895,000 770,200 (124,800) 86.1% 895,000 Investment Earnings125,000 756,705 125,000 1,046,840 921,840 837.5% 164,000 Other Revenue169,900 269,353 197,100 454,247 257,147 230.5% 197,100 Total Revenue 27,869,210 31,076,834 30,110,690 32,239,068 2,128,378 107.1% 31,785,700 ExpendituresCity Council and Boards429,960 447,475 314,920 273,665 41,255 86.9% 324,325 City Manager1,693,715 1,450,002 436,740 528,602 (91,862) 121.0% 725,152 Police7,705,215 6,087,127 8,533,560 7,790,188 743,372 91.3% 2,506,743 Fire2,184,600 1,812,500 2,318,220 2,005,005 313,215 86.5% 8,021,047 Legal Services and City Clerk531,240 387,714 850,795 798,762 52,033 93.9% 1,023,060 Administrative Services1,306,395 1,481,514 2,461,185 2,283,591 177,594 92.8% 2,919,046 Communications- - 462,695 425,687 37,008 92.0% 546,209 Building Maintenance872,100 908,327 992,560 935,609 56,951 94.3% 1,099,082 Park Maintenance1,536,370 1,713,577 1,744,915 1,704,633 40,282 97.7% 1,944,500 Streets2,808,670 2,760,347 2,893,675 2,623,692 269,983 90.7% 3,051,174 Community Development2,383,765 2,186,544 2,610,555 2,221,661 388,894 85.1% 2,985,946 Parks and Recreation1,453,140 1,241,464 1,528,070 1,174,464 353,606 76.9% 1,583,750 Finance1,394,040 1,328,134 1,457,800 1,468,957 (11,157) 100.8% 1,230,666 Insurance370,000 341,320 380,000 389,690 (9,690) 102.5% 400,000 Contingencies- - -- -0.0% 150,000 Transfers Out3,200,000 3,515,000 3,375,000 3,375,000 -100.0% 3,275,000 Total Expenditures 27,869,210$ 25,661,043$ 30,360,690$ 27,999,205$ 2,361,485$ 92.2% 31,785,700$ Change in Fund Balance(250,000) 4,239,863 - Fund Balance January 122,749,108 22,749,108 26,988,971 Fund Balance December 31 (Unaudited) 22,499,108$ 26,988,971$ 26,988,971$ As of December 31, 2024 (unaudited)Financial Status ReportGeneral FundCity of Golden Valley3 16 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Pull Tabs 35,000$ 34,997$ (3)$ 42,500$ Fundraisers 11,000 19,274 8,274 16,000 Interest on Investments 400 - (400) - Total Operating Revenue 46,400 54,270 7,870 58,500 Operating Expenses Supplies 11,000 9,067 1,933 8,000 Allocations 40,000 52,250 (12,250) 50,500 Total Operating Expenses 51,000 61,317 (10,317) 58,500 Change in Fund Balance (4,600)$ (7,046)$ -$ Fund Balance at January 1 162,414$ 162,414$ 155,368$ Fund Balance at December 31 157,814$ 155,368$ 155,368$ Community Services Commission Special Revenue Fund Operating Statement Through December 31, 2024 (unaudited) Status Summary This fund is used to account for the activity of the Community Services Commission (CSC). Revenue comes from pull tabs from four business around Golden Valley as well as fundraising efforts throughout the year. The CSC meets regularly and decides how to allocate resources to support organizations and programs that address human services needs within the City. As of December 31, 2024, the CSC received $34,997 in pull tab revenue which is just $3 less than the budgeted amount of $35,000. In addition, the CSC has received more fundraising revenue than budgeted, collecting $19,274 which is $8,274 or 175.2% of the budgeted amount of $11,000. Through December 31 2024, the CSC spent $52,250 to support various organizations throughout Golden Valley. There are no more expected allocation payments to other organizations for the remainder of 2024. In addition, the CSC spent $9,067 on operations to support their work. For 2025, the CSC is budgeted to collect a total of $58,500 through pull tab and other fundraising activity which will be fully used to support local organizations and the CSC itself. 4 17 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Banquet Facilities 271,000$ 245,125$ 25,875$ 373,000$ Catering Rental 18,000 20,003 (2,003) 25,000 Backyard Indoor Play Area 266,500 260,299 6,201 281,500 Investment Earnings - 37,180 (37,180) - Total Operating Revenue 555,500 562,607 (7,107) 679,500 Operating Expenditures General Area Rooms 432,700 411,694 21,006 459,431 Indoor Play Area 65,570 63,272 2,298 70,671 Total Operating Expenditures 498,270 474,967 23,303 530,102 Operating Revenue Over/ (Under) Expense 57,230 87,640 (30,410) 118,050 Non-Operating Revenue (Expenses) Capital 285,000 39,867 245,133 180,000 Change in Fund Balance (227,770)$ 47,773$ (30,602)$ Fund Balance at January 1 695,709$ 695,709$ 743,482$ Fund Balance at December 31 467,939$ 743,482$ 712,880$ Brookview Special Revenue Fund Operating Statement Through December 31, 2024 (unaudited) Status Summary The Brookview Special Revenue Fund is used to account for the revenues and expenditures at the Brookview Community Center facility. The primary sources of revenue are room rental for events and proceeds from fees for the use of the indoor play area. Primary expenditures consist of personnel, materials, and contractual services needed to maintain and support the rental rooms and indoor play area. There is also a capital plan to assist with maintenance of the facility. Through December 31, 2024, Brookview Community Center collected a total of $562,607 in revenue. This represents approximately 101.3% of budgeted revenue for the year. The largest contributing factor to revenue exceeding budget is from the unbudgeted investment earnings recorded in the fund totaling $37,180. As of December 31, 2024, Brookview Community Center spent a total of $474,967 on operating the General Area Rooms and the Indoor Play Area. That spending is approximately 95.3% of the budgeted amount of $498,270. Capital spending through year-end was $39,867, only 14.0% of the budgeted amount of $285,000. The underspending on Capital is primarily due to deferring projects to future years. 5 18 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Taxes 284,880$ 276,451$ (8,429)$ 314,181$ State Aid - 137,095 137,095 137,095 Investment Earnings - 13,359 13,359 - Total Operating Revenue 284,880 426,904 142,024 451,276 Operating Expenses Personnel 189,980 142,128 47,852 191,181 Materials/Supplies 500 172 328 300 HOPE Home Acquisition 315,000 270,000 45,000 - Contractual Services 94,400 78,829 15,571 259,795 Total Operating Expenses 599,880 491,130 108,750 451,276 Operating Revenue Over/ (Under) Expense (315,000) (64,225) 33,274 - Change in Fund Balance (315,000)$ (64,225)$ -$ Fund Balance at January 1 423,238$ 423,238$ 359,013$ Fund Balance at December 31 108,238$ 359,013$ 359,013$ Housing and Redevelopment Authority Capital Project Fund Operating Statement Through December 31, 2024 (unaudited) Status Summary The Housing and Redevelopment Authority (HRA) Capital Project Fund serves as the main operating fund of the HRA. Within this fund, we deposit the proceeds of the HRA tax levy and the new-for-2024 Local Affordable Housing Aid (LAHA) from the State of Minnesota. The HRA pays for personnel, materials, and other operational needs from this fund. Through year-end 2024, the HRA Capital Project Fund collected $426,904 in revenue, with $276,451 from tax levy, $137,095 from the LAHA program, and $13,359 from investment earnings. Neither the LAHA revenue nor the investment earnings were budgeted, so total revenue was over budget by $142,024. Through the end of 2024, the HRA fund spent $491,130 including $270,000 for the acquisition of three properties as part of the HOPE program. The funding for these purchases was a transfer from the City's General Fund completed at the end of 2023. The HRA levies taxes to support operations. For 2025, the proposed levy for the HRA is $319,181 to fund ongoing activity related to economic and housing development. The HRA also anticipates receiving at least the same amount of LAHA revenue in 2025 as the State distributed in 2024. 6 19 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Charges for Services 10,675,625$ 11,219,524$ 543,899$ 10,753,120$ Grants 750,000 876,415 126,415 750,000 Investment Earnings 100,000 624,958 524,958 100,000 Special Assessments - 224,688 224,688 - Rents and Franchise Fees 1,558,000 1,524,067 (33,933) 2,050,000 Total Operating Revenue 13,083,625 14,469,652 1,386,027 13,653,120 Operating Expenses Personnel 1,878,925 1,437,968 440,957 1,914,130 Materials/Supplies 323,625 239,639 83,986 350,725 Contractual Services 1,250,850 543,974 706,876 442,750 Water & Sewer Services for Resale 6,030,525 5,635,097 395,428 7,089,925 Vehicle Maintenance Charges 147,775 126,023 21,752 156,525 Total Operating Expenses 9,631,700 7,982,701 1,648,999 9,954,055 Operating Revenue Over/ (Under) Expense 3,451,925 6,486,951 (262,972) 3,699,065 Non-Operating Revenue (Expenses) Debt Service (369,975) (15,779) (354,196) (369,160) Capital (8,510,000) (3,794,943) (4,715,057) (4,160,000) Transfers (300,000) (300,000) - (300,000) Total Nonoperating Revenue (Expense)(9,179,975) (4,110,722) (5,069,253) (4,829,160) Change in Cash Position (5,728,050)$ 2,376,228$ (1,130,095)$ Water and Sewer Utility Enterprise Fund Financial Status Report Through December 31, 2024 (unaudited) Status Summary The Water and Sewer Utility fund is used to account for the operational and capital activity of the City's water and sewer utility services. The fund has outstanding debt related to capital improvements and uses the revenues from charges to utility customers to fund payments on that debt. The fund also transfers $300,000 to the City's General Fund for various services provided by General Fund Departments. As of year-end 2024, the Water and Sewer Utility fund collected revenue in the amount of $14,469,652 or 110.6% of the budgeted amount of $13,083,625. Charges for services to utility customers finished the year at 105.1% of the budgeted amount. In addition, investment earnings far exceeded budget with collections over six times more than budgeted. Grants in 2024 included $805,000 for ARPA reimbursements on the TH 55 Lift Station projected as approved by Council. The fund spent $7,982,701 of operating expenses or 82.9% of the budgeted amount of $9,631,700. In addition the fund spent $3,794,943 or 44.6% of the budgeted capital budget and the full $300,000 of the budgeted transfers. In addition, the fund paid the inter-fund loan obligations during 2024. As of December 31, 2024, the cash balance in this fund is $15,775,735, compared to year-end 2023 cash balance of $13,724,035 7 20 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Charges for Services 3,345,000$ 2,880,402$ (464,598)$ 3,375,000$ Grants 2,584,000 - (2,584,000) 3,003,000 Investment Earnings 282,025 486,630 204,605 288,400 Other Miscellaneous 60,500 - (60,500) 60,500 Total Operating Revenue 6,271,525 3,367,032 (2,904,493) 6,726,900 Operating Expenses Personnel 721,640 601,943 119,697 768,329 Materials/Supplies 62,860 67,347 (4,487) 68,860 Contractual Services 496,855 201,097 295,758 551,851 Vehicle Maintenance Charges 94,335 95,389 (1,054) 98,980 Total Operating Expenses 1,375,690 965,776 409,914 1,488,020 Operating Revenue Over/ (Under) Expense 4,895,835 2,401,256 (3,314,407) 5,238,880 Non-Operating Revenue (Expenses) Debt Service (182,850) (182,900) 50 (180,300) Capital (7,094,000) (206,180) (6,887,820) (3,944,000) Transfers (250,000) (250,000) - (250,000) Total Nonoperating Revenue (Expense)(7,526,850) (639,080) (6,887,770) (4,374,300) Change in Cash Position (2,631,015)$ 1,762,176$ 864,580$ Storm Sewer Utility Enterprise Fund Financial Status Report Through December 31, 2024 (unaudited) Status Summary The Storm Water Utility Enterprise funds accounts for the operation and capital activities of the City's storm water system. The fund collects revenue through the utility bills to residential and commercial customers as well as various grants that may be available for use in storm water systems. Through year-end 2024, the fund collected $3,367,032 from charges to utility customers and investment earnings. None of the budgeted grant revenue was realized in 2024. The fund spent approximately 70.2% or $965,776 of the operating budget of $1,375,690. In total, the operating activity of the fund resulted in an operating gain of $2,401,256. In addition to operations, the fund completed all debt service obligations and transfers to the General Fund. The fund did not spend a significant portion of the budgeted capital dollars. 8 21 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Charges for Services 1,123,980$ 961,351$ (162,629)$ 1,165,860$ Grants 40,000 106,442 66,442 40,000 Investment Earnings 10,000 64,890 54,890 10,000 Other Miscellaneous 13,000 12,436 (564) 13,000 Total Operating Revenue 1,186,980 1,145,120 (41,860) 1,228,860 Operating Expenses Materials/Supplies 11,500 1,854 9,646 11,500 Contractual Services 1,145,600 1,003,327 142,273 1,180,430 Total Operating Expenses 1,157,100 1,005,181 151,919 1,191,930 Operating Revenue Over/ (Under) Expense 29,880 139,939 (193,779) 36,930 Non-Operating Revenue (Expenses) Transfers (75,000) (75,000) - (75,000) Total Nonoperating Revenue (Expense)(75,000) (75,000) - (75,000) Change in Cash Position (45,120)$ 64,939$ (38,070)$ Recycling Enterprise Fund Financial Status Report Through December 31, 2024 (unaudited) Status Summary The Recycling Utility fund accounts for the City's curbside recycling and organics collection services. The City contracts for both services and charges users a fee on their regular utility bill. The fund also transfers $75,000 to the City's General Fund to offset the cost of program administration. Through year-end 2024, the fund collected $1,145,120 in revenue from users, grants, and other miscellaneous sources. This represents approximately 96.5% of the budgeted amount of $1,186,980. Total revenue for the year is less than budgeted as a result of collecting less revenue from customers than budgeted. The rate of charges and participating users varies from year to year which can result in over and under collections in any given year. The fund spent $1,005,181 through September 30 which is 86.9% of the budgeted amount of $1,157,100. Nearly all spending is related to the contract for recycling and other services as mentioned above. The fund completed the budgeted $75,000 to the General Fund. 9 22 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Golf Course 1,755,000$ 1,929,408$ 174,408$ 1,915,000$ Golf Pro Shop 490,000 527,480 37,480 540,000 316 Grill 2,700,000 2,246,860 (453,140) 2,750,000 Lawn Bowling/Other 155,000 133,259 (21,741) 190,000 Investment Earnings - 142,167 142,167 - Total Operating Revenue 5,100,000 4,979,174 (120,826) 5,395,000 Operating Expenses Golf Course 1,834,225 1,772,320 61,905 2,018,185 Golf Pro Shop 187,120 239,859 (52,739) 223,071 316 Grill 2,031,345 1,812,196 219,149 2,020,881 Lawn Bowling/Other 35,835 27,950 7,885 36,919 Total Operating Expenses 4,088,525 3,852,325 236,200 4,299,056 Operating Revenue Over/ (Under) Expense 1,011,475 1,126,849 (357,026) 1,095,944 Non-Operating Revenue (Expenses) Debt Service (111,100) (59,723) (51,377) (111,098) Capital (175,000) (89,411) (85,589) (215,000) Transfers (85,000) (85,000) - (85,000) Total Nonoperating Revenue (Expense)(371,100) (234,134) (136,966) (411,098) Change in Cash Position 640,375$ 892,715$ 684,846$ Brookview Golf Course and 316 Grill Enterprise Fund Financial Status Report Through December 31, 2024 (unaudited) Status Summary The Brookview Golf Course and 316 Grill Enterprise fund accounts for all business-type activities that take place at the Brookview property related to golf, restaurant, pro shop, and other recreational activities. The fund also pays debt service on an inter-fund borrowing related to the irrigation system project and manages other capital projects. In addition, the fund transfers $85,000 to the City's General Fund in 2024. As of December 31, 2024 the fund collected $4,979,174 or 97.6% of the budgeted revenue amount. Revenue was below budget in the 316 Grill operations area, however, as noted below, costs were also less than budgeted. The funds various business operations have spent a total of $3,852,325 or 94.2% of the budgeted amount of $4,088,525 through year-end. The Golf Course operations and 10 23 2024 Budget 2024 Actual Variance to Budget 2025 Budget Operating Revenue Charges for Services 472,325$ 523,618$ (472,325)$ 473,200$ Investment Earnings 7,500 3,335 (4,165) 7,500 Other Miscellaneous 1,500 10,365 8,865 1,500 Total Operating Revenue 481,325 537,318 (467,625) 482,200 Operating Expenses Personnel 516,900 439,281 77,619 555,084 Materials/Supplies 2,000 2,769 (769) 2,000 Contractual Services 37,690 33,038 4,652 37,690 Total Operating Expenses 556,590 475,088 81,502 594,774 Operating Revenue Over/ (Under) Expense (75,265) 62,230 (549,127) (112,574) Non-Operating Revenue (Expenses) Transfers (60,000) (60,000) - (30,000) Total Nonoperating Revenue (Expense)(60,000) (60,000) - (30,000) Change in Cash Position (135,265)$ 2,230$ (142,574)$ Department of Motor Vehicles Enterprise Fund Financial Status Report Through December 31, 2024 (unaudited) Status Summary The Department of Motor Vehicles Enterprise fund operates a deputy registrar office to issue registration and licensing of motor vehicles and recreational crafts as well as issuing hunting and fishing licenses. The rates for most services are set by the State of Minnesota and the DMV remits a majority of registration fees to the State while maintaining a portion to offset costs. The fund also transfers $60,000 to the General Fund to offset costs of supporting the DMV. Through December 31, 2024, the revenue generated thorugh the DMV was $537,318 which is 111.6% of the budgeted amount of $481,325. The fund spent approximately 85.4% or $475,088 of the $556,590 operating budget through year-end. Revenue in the fund is almost entirely dependent on the volume of transactions the team is able to process. Every effort is made to efficienty process both walk-in customers and larger customers that may drop off larger volumes of work for renewal. In addition, the DMV has one unfilled clerk position that resulted in a majority of the expense savings realized in 2024. 11 24 EXECUTIVE SUMMARY Legal 763-512-2345 / 763-512-2344 (fax) Golden Valley City Council Work Session March 11, 2025 Agenda Item 3. Council Review of Future Draft Agendas Prepared By Melissa Croft, Deputy City Clerk (Records) Supporting Documents Review of Future Draft Agendas 25 Review of Future Draft Agendas Meeting & Item Info March 15, 2025 Special City Council Meeting - 11AM Board and Commissions Interviews Discussion Regarding Appointments/Reappointments Adjournment March 18, 2025 Special City Council Meeting - 5PM (TBD, if necessary) Board and Commissions Interviews and Discussion March 18, 2025 City Council Meeting - 6:30 PM 1A - Pledge of Allegiance and Land Acknowledgement Presentation Annual Westopolis Update (formerly Discover St. Louis Park) New Employee Introductions (if necessary) Consent - Council Minutes Approval of Council Minutes Consent - City Check Registers Approval of City Check Registers Consent - Licenses Approve Renewal of General Business Licenses - Solid Waste and Recyclables Collection Approve License Renewal - Gas Stations and Gas Dispensers Approve Updated Liquor License - Brewer Off-Sale (New Sizes) - Under Pressure Brewing Consent - Boards, Commissions, and Task Forces Consent - Bid, Quotes, and Contracts Approve Contract for Brush Pick-Up Approve Purchase of Gate Valves and Parts Approve Contract for JWC Gate Valve Project Adopt Resolution No. 25-### Approving State of Minnesota Department of Transportation and City of Golden Valley Cooperative Construction Agreement No. 1058427 and Authorizing its Execution Approval of Training Contract for Restorative Practices Training Consultant with RJP LLC Motorola License Plate Reader Contract 2025-2026 LE AST Services Counseling Agreement Consent - Grants and Donations Adopt Resolution to Apply for Healthy Tree Canopy Grant Consent - Miscellaneous Adopt Resolution to approve Minor Subdivision and Variance (Fretham 32nd Addition) Adopt Second Reading of Ordinance No. 793 - Amending Chapter 4 - Brewer Off-Sale Licenses to Permit New Vessel Sizes as Allowed by State Law Adopt Second Reading of Ordinance No. 794, Establishing an Affordable Housing Trust Fund and Approve Resolution Authorizing Summary Publication Public Hearing Old Business New Business Appeal of Board of Zoning Appeals Variance Decision - 6601 Plymouth Avenue April 1, 2025 HRA Meeting - 6:30 PM (if necessary) Consent Agenda Approval of HRA Minutes First Amendment of Contract for Development for 6300 Olympia (formerly 1605 Douglas) Public Hearing Old Business New Business 26 Meeting & Item Info April 1, 2025 City Council Meeting - 6:30 PM 1A - Pledge of Allegiance and Land Acknowledgement Presentation Proclamation for Fair Housing Month Consent - Council Minutes Approval of Council Minutes Consent - City Check Registers Approval of City Check Registers Consent - Licenses General Business License - Fireworks Sales Consent - Boards, Commissions, and Task Forces Adopt Resolution Approving an Appointment to the Bassett Creek Watershed Management Commission Board and Commission Appointments and Reappointments Consent - Bid, Quotes, and Contracts Contract Amendment with Ehlers Investment Advisory Services Adopt Resolution No. 25-### Authorizing Construction Cooperative Agreement with Hennepin County for CSAH 156 (Winnetka Avenue) Improvements CP No. 2183346 Approve Cooperative Agreement with Three Rivers Park District for the Design, Construction, and Maintenance of the Bassett Creek Regional Trail Connection Consent - Grants and Donations Consent - Miscellaneous Approve Amendment to Respectful Workplace Policy, Resolution Final Plat (Fretham 32nd Addition) Public Hearing Old Business New Business April 8, 2025 HRA Work Session - 6:30 PM (if necessary) April 8, 2025 City Council Work Session - 6:30 PM Annual Report from City Prosecutor Council Guide Discussion Council Review of Future Draft Agendas April 8, 2025 Special City Council Closed Executive Session - 6:30 PM (immediately following Council work session) (TBD) Call Closed Session to Order Closed Session Adjourn April 15, 2025 City Council Meeting - 6:30 PM 1A - Pledge of Allegiance and Land Acknowledgement Presentation Proclamation Recognizing Firefighter Appreciation Day New Employee Introductions (if necessary) Consent - Council Minutes Approval of Council Minutes Consent - City Check Registers Approval of City Check Registers Consent - Licenses Consent - Boards, Commissions, and Task Forces Board and Commission Appointments and Reappointments (additional appointments, if necessary) Consent - Bid, Quotes, and Contracts 27 Meeting & Item Info Approve Contract for Pavement Markings Approve Contract for Native Vegetation Management with XYZ Consent - Grants and Donations Consent - Miscellaneous Approve Updates to Council Meeting Structure, Guidelines, and Policies Public Hearing Old Business New Business 28