04-Financing CITY OF GOLDEN VALLEY, MINNESOTA
2019- 2023 CAPITAL IMPROVEMENT PROGRAM
FINANCING
The 2019-2023 Capital Improvement Program (CIP), which is detailed on the following pages, is financed
from a variety of sources. The purpose of this section is to describe and analyze these sources, in as much
detail as possible, so that the users of this CIP can be certain that the program as outlined can be financed
from available financing sources.
General Fund
The General Fund is the main operating fund of the City, and as such contains most of the City's operating
divisions. The main revenue source for this fund is property taxes revenues. Large, non-recurring capital
outlay expenditures are usually made from one of the City's capital project funds. Level annual transfers from
the General Fund to these funds help to even out the annual budgeting process. The General Fund fund
balance as of December 31, 2017 was $12,403,849. Exhibit I lists the General Fund transfers to Funds for
projects in the CIP.
Water& Sewer Utility Fund
The Water& Sewer Utility Fund is an enterprise fund, which is involved in the operation and renewal &
replacement of the City's water and sanitary sewer systems. The main sources of revenue for this fund are
the user charges to those residential and commercial/industrial customers connected to the systems and
franchise fees to help with infrastructure improvements. Per City policy, new lateral water and sewer system
projects are assessed at 100% of cost unless there are unusual circumstances involved, in which case the
City would pay for the difference from the reserve account. Since the City is essentially fully developed, there
should be fewer and fewer of these projects in future years. These lateral water and sewer system projects
are usually requested by property owners, so it is very hard to project when they might occur and the total
cost.
The trunk water system is owned and operated under a joint powers agreement with the cities of Golden
Valley, New Hope and Crystal. This organization is known as the Joint Water Commission. The operating
and capital improvement expenditures of the trunk water system are shared by the three cities. In 2014, an
Emergency Water Supply was approved. Financing was through an interfund loan with an additional fee on
water consumption. In 2015, another interfund loan was used to finance the break on the water main that
carries water from Minneapolis to Crystal through Robbinsdale.
The trunk sanitary sewer system is owned by Metropolitan Council Environmental Services to which the City
makes monthly payments for the operation of and the capital improvements to the trunk system.
The fund balance or net position that is unrestricted at 12/31/17 was $7,601,050. The financial position of
this fund is extremely important because the City is facing large expenditures in future years for the renewal
and replacement of aging water and sewer lines. Exhibit II is a list of projects in the program financed by the
Water& Sewer Utility Fund.
Brookview Golf Course Fund
The Brookview Golf Course Fund is an enterprise fund, which is involved in the operation and improvement
of the City's golf course and newly developed Lawn Bowling Course in 2018. The main revenue source is
green fees paid by the golfers. The golf course consists of an 18 hole regulation course, a 9 hole par 3
course and a driving range. Other revenue sources come from the lawn bowling course, pro shop and Three-
One-Six Restaurant. Many of the improvements to the course are part of regular course maintenance, but
where specific projects can be defined and costs estimated, they are included in the program. Major pieces
of equipment used by the golf course are also included in the program. In December 2017, Brookview
opened its new facility which included the restaurant, golf pro shop and par 3 building. The net position in this
fund as of December 31, 2017 was $930,866. This was slightly lower than the previous year due to the
renovation of the building. Exhibit III is a list of the major course improvements and equipment included in the
program and the projected working capital balances of this fund.
Storm Sewer Utility Fund
The Storm Sewer Utility Fund is an enterprise fund, which is involved in the maintenance and improvement
of the City's storm water system including storm sewers and holding ponds. The fund is financed from
charges to all the property in the City based on the level of estimated storm water runoff from a given class
of property. Projects funded are those related to the Pavement Management Program, the City's adopted
Storm Water Management Plan and projects constructed in conjunction with the other cities that are
members of the Bassett Creek Water Management Commission. Exhibit VII is an analysis of the projected
revenue, expenditures and cash balances in this fund. In 2016, bonds were sold and will be paid back with
tax increment received from The Liberty development. The net position in this fund as of December 31, 2017
was $8,073,057.
Equipment Replacement Fund
This capital project fund is used to finance major vehicle and equipment purchases for General Fund
divisions. In 2018, the main source of revenue is a transfer from the General Fund. In the past, certificates of
Indebtedness were sold and will remain outstanding until 2021. Exhibit IV is an analysis of the projected
revenue, expenditures and cash balances in this fund. Existing debt service payments on the certificates of
indebtedness issued are detailed in Exhibit XI.
Building Fund
This capital project fund is used to finance major improvements to buildings used by the General Fund
divisions. Wold Architects completed a city facility analysis in 2006. This plan has been incorporated into the
Building Fund and the 2019 General Fund Buildings Budget as funding permits. A major source of financing
in this fund is transfers from the General Fund. Exhibit V is an analysis of the projected revenue,
expenditures and cash balances of this fund.
Cablecasting Fund
This capital project fund was separately designated in 2014 to account for the franchise fees collected for
cablecasting. These monies are designated for any future improvements for the council chambers to provide
cablecasting of public meetings. CCX Media Television/Northwest Community Television provides service
and programing for the city.
Park Improvement Fund
This capital project fund is used to finance park and open space improvements. One of the revenue sources
in this fund is an annual transfer from the General Fund along with park dedication fees. Exhibit VI is an
analysis of the projected revenue, expenditures and cash balances of this fund.
Municipal State Aid (MSA) Fund
This fund is used to account for monies held in account both by the City and the State of Minnesota for use
in the maintenance and improvement of municipal state aid streets located in the City. Streets are
designated as municipal state aid based on criteria established by the State. Each city is allowed a maximum
number of miles of these designated streets. Every improvement project involving these streets must first be
approved by the State. If approved, a certain portion of the projected cost is advanced to the City from its
MSA account at the State, with the balance being paid upon completion. The monies that finance the City's
MSA account at the State come from the State gasoline tax.
The City's MSA account at the State is essentially the City's money, and the amount in the account at any
one time is included as an asset of this fund. The State also participates directly in various street and storm
sewer improvement projects with the City, when the particular project benefits or involves State highways
and rights of way. On the worksheets for street and storm sewer projects, the designation under the
financing analysis of MSA refers to the City's MSA account at the State, and State of Minnesota refers to
direct State participation. Exhibit VIII is an analysis of the projected revenue, expenditures and cash
balances of the Municipal State Aid Fund.
Capital Improvement Fund
Revenues for this fund will primarily come from a portion of the franchise fees that are not designated for
payment of debt services from the Douglas Drive project. Monies in this fund finance infrastructure
improvements. Exhibit IX is an analysis of the projected revenue, expenditures and cash balances of this
fund.
Street Reconstruction Capital Improvement Fund
Revenues for this fund will primarily come from a bond sale that will finance the yearly pavement
management program (PMP) planned through 2023. A general fund transfer will pay for the overlays that are
planned to maintain the streets that have been reconstructed. Exhibit X is an analysis of the projected
revenue, expenditures and cash balances of this fund.
General Obligation Bonds
To finance certain projects the City must borrow funds externally by issuing general obligation municipal
bonds. The method(s) of financing the repayment of these bonds differentiates the various types of bonds
used in the program.
Tax Increment Bonds
The proceeds of these bond issues are used to pay for public improvements in specially designated tax
increment districts. The debt service on the bonds is repaid from property taxes on the increased value in
the district over a base year's value. The property taxes on the increased value (increment) are not
distributed to the various taxing jurisdictions, but are retained by the City to pay off the debt service on
the bonds. The increased value in the district comes from the increased commercial/industrial/residential
development or made possible by the public improvements financed by the bonds. The City has four tax
increment districts. Two districts have used bonds for improvements: Highway 55 West and
Winnetka/Medicine Lake Road.
Special Assessment Bonds
Per State Statute, if at least 20% of the bond principal for a public improvement is financed by special
assessments against benefited properties, the balance can be financed from tax levies against all the
property in the City without the need of a bond referendum. On the project worksheets, if special
assessment bond financing is involved, we have indicated the amount of bonds to be repaid from special
assessments and tax levies.
The pavement management program uses special assessment bonds for financing along with
assessments from benefiting properties. These street projects will extend over a longer period than is
included in the 2019-2023 CIP and will be financed by annual special assessment bond issues. On the
project worksheet for the pavement management program, the method of financing is indicated as just
Special Assessment Bonds.
Certificates of Indebtedness
Certificates of Indebtedness were used to help finance capital equipment that is outlined in the
Equipment Replacement Fund. These are short-term general obligation debt instruments issued for a
term of four years and repaid from annual tax levies. Current legislation has allowed cities to extend the
term of these certificates up to ten years if the life of the asset is that in length. We may extend the term
for those certificates that will finance fire pumper replacements. This financing has been replaced with a
general fund transfer.
Municipal State Aid (MSA) Revenue Bonds
MSA bonds were sold in 2007 for the first time for the City of Golden Valley. The project was Golden
Valley Road and Bridge replacement. The debt service payments will be repaid over twenty years with
State Aid Allotments used to improve and maintain Municipal State Aid roads.
Tax Abatement Bonds
These bonds will be repaid from the abated City taxes on the General Mills' headquarters expansion,
which has been completed. The abatement agreement was signed between the City and General Mills in
2001 and the bonds were sold in 2004. The City taxes generated by the expansion will not be used to
finance general City operations, but will be used to pay the debt service on the bonds. The term of the
abatement agreement is fifteen (15)years and will end in 2019.
Exhibit XI is an analysis of the current general obligation bonded debt of the City of Golden Valley.
CITY OF GOLDEN VALLEY
2019 -2023 CIP
GENERAL FUND (FUND 1000)
EXHIBIT I
EXPENDITURES
PROJECT (1) 2019 2020 2021 2022 2023
Transfer to Building Fund $400,000 $450,000 $500,000 $500,000 $500,000
Transfer to Equipment Fund 100,000 470,680 1,050,000 1,050,000 1,050,000
Transfer to Equipment Debt Service Fund 882,580 561,900
Transfer to Park Improvement Fund 325,000 350,000 375,000 400,000 400,000
Transfer to Street Reconstruction 500,000 600,000 700,000 800,000 900,000
Overlays
Totals $2,207,580 $2,432,580 $2,625,000 $2,750,000 $2,850,000
Notes•
(1) Each transfer will be outlined in the respective funds.
CITY OF GOLDEN VALLEY
2019-2023 CIP
WATER AND SEWER UTILITY FUND (FUND 7120)
EXHIBIT II
2019 2020 2021 2022 2023
Net Position @ 1/1 $7,328,150 $7,008,160 $7,355,135 $7,541,976 $7,443,578
Revenue•
Franchise Fees 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
Grant 300,000
Operating Revenue 9,580,805 9,607,795 9,799,951 9,995,950 10,195,869
Total Revenue for Operations 11,080,805 11,107,795 11,599,951 11,495,950 11,695,869
Total Available 18,408,955 18,115,955 18,955,086 19,037,926 19,139,447
Expenditures:
Operating Expenditures:
Administration (570,675) , (575,835) (590,231) (604,987) (620,111)
Sewer Maintenance (3,340,720) (3,434,690) (3,537,731) (3,643,863) (3,753,178)
Water Maintenance (4,799,400) (4,985,295) (5,035,148) (5,085,499) (5,136,354)
Sub-Total Operations (8,710,795) (8,995,820) (9,163,110) (9,334,349) (9,509,644)
Capital Outlay:
2019 (2,690,000)
2020 (1,765,000)
2021 (2,250,000)
2022 (2,260,000)
2023 (2,050,000)
Sub-Total Capital Expenses (2,690,000) (1,765,000) (2,250,000) (2,260,000) (2,050,000)
Total Expenses (11,400,795) (10,760,820) (11,413,110) (11,594,349) (11,559,644)
Net Position @ 12/31 $7,008,160 $7,355,135 $7,541,976 $7,443,578 $7,579,802
CITY OF GOLDEN VALLEY
2019-2023 CIP
BROOKVIEW GOLF COURSE FUND (FUND 7150)
EXHIBIT III
2019 2020 2021 2022 2023
Net Position @ 1/1 $487,814 $689,064 $888,859 $1,030,624 $1,213,741
Revenue•
Total Course Revenue 3,382,000 3,455,000 3,524,100 3,594,582 3,666,474
Total Available 3,869,814 4,144,064 4,412,959 4,625,206 4,880,215
Expenses:
Operating Expenses: (3,078,075) (3,149,205) (3,220,335) (3,291,465) (3,362,595)
Capital Outlay
2019 (102,675)
2020 (106,000)
2021 (162,000)
2022 (120,000)
2023 (140,000)
Total Expenses (3,180,750) (3,255,205) (3,382,335) (3,411,465) (3,502,595)
Net Position @ 12/31 $689,064 $888,859 $1,030,624 $1,213,741 $1,377,620
CITY OF GOLDEN VALLEY
2019-2023 CIP
EQUIPMENT REPLACEMENT FUND(FUND 5700)
EXHIBIT IV
2019 2020 2021 2022 2023
Fund Balance @ 1/1 2,936,299 2,366,267 1,917,040 2,157,140 2,414,641
Revenue:
Sale of Assets(Auction proceeds): 35,000 35,000 35,000 35,000 35,000
General Fund Transfer 100,000 470,680 1,050,000 1,050,000 1,050,000
Interest Earnings(Beginning Balance) 23,538 23,663 19,170 21,571 24,146
Total Available 3,094,837 2,895,610 3,021,210 3,263,711 3,523,788
Expenditures:
Capital Outlay
2019 (728,570)
2020 (978,570)
2021 (864,070)
2022 (849,070)
2023 (1,213,070)
Total Expenditures (728,570) (978,570) (864,070) (849,070) (1,213,070)
Fund Balance @12/31 2,366,267 1,917,040 2,157,140 2,414,641 2,310,718
CITY OF GOLDEN VALLEY
2019-2023 CIP
BUILDING FUND(FUND 5200)
EXHIBIT V
2019 2020 2021 2022 2023
Fund Balance @ 1/1 $1,033,825 $806,579 $652,628 $767,523 $763,279
Revenue:
Transfer From General Fund 400,000 450,000 500,000 500,000 500,000
Interest Earnings 7,754 6,049 4,895 5,756 5,725
Total Available 1,441,579 1,262,628 1,157,523 1,273,279 1,269,004
Expenditures:
2019 (635,000)
2020 (610,000)
2021 (390,000)
2022 (510,000)
2023 (110,000)
Total Expenditures (635,000) (610,000) (390,000) (510,000) (110,000)
Fund Balance @ 12/31 $806,579 $652,628 $767,523 $763,279 $1,159,004
CITY OF GOLDEN VALLEY
2019-2023 CIP
CABLECASTING FUND(FUND 5500)
EXHIBIT V
2019 2020 2021 2022 2023
Fund Balance @ 1/1 $278,230 $113,621 $148,189 $182,930 $217,845
Revenue:
Franchise Fees 34,000 34,000 34,000 34,000 34,000
Interest Earnings 1,391 568 741 915 1,089
Total Available 313,621 148,189 182,930 217,845 252,934
Expenditures:
2019 (200,000)
2020 0
2021 0
2022 0
2023 0
Total Expenditures (200,000) 0 0 0 0
Fund Balance @ 12/31 $113,621 $148,189 $182,930 $217,845 $252,934
CITY OF GOLDEN VALLEY
2019-2023 CIP
PARK IMPROVEMENT FUND (FUND 5600)
EXHIBIT VI
2019 2020 2021 2022 2023
Fund Balance @ 1/1 $377,615 $367,447 $362,203 $406,919 $451,971
Revenue:
Transfer From General Fund 325,000 350,000 375,000 400,000 400,000
Little League Payment 20,000
Park Dedication Fee
ISD#281 (SEA School) 12,500
Golden Valley Youth Associations 12,500
Interest Earnings 2,832 2,756 2,717 3,052 3,390
Total Available 725,447 720,203 764,919 809,971 855,361
Expenditures:
2019 (358,000)
2020 (358,000)
2021 (358,000)
2022 (358,000)
2023 (358,000)
Total Expenditures (358,000) (358,000) (358,000) (358,000) (358,000)
Fund Balance @ 12/31 $367,447 $362,203 $406,919 $451,971 $497,361
CITY OF GOLDEN VALLEY
2019-2023 CIP
STORM WATER UTILITY FUND (FUND 7300)
EXHIBIT VII
2019 2020 2021 2022 2023
Net Position @ 1/1 $4,984,410 $5,160,555 $5,232,211 $5,086,221 $4,522,916
Revenue:
Storm Sewer Charges 2,475,000 2,575,000 2,575,000 2,575,000 2,575,000
Bassett Creek Watershed Management Commission 1,031,500 500,000 500,000 1,300,000
Hennepin County 500,000 170,000
State of MN (Bridge Bonds/DNR) 2,300,000 1,000,000 1,780,000
Other-BWSR 68,500
Interfund Loan-Water/Sewer 198,830 194,360 189,885 185,415 180,944
Interfund Loan-Liberty Crossing 63,500 160,000 160,000 165,000 170,000
Sale of Assets
Interest Earnings 50,000 51,606 52,322 50,862 45,229
Total Revenue 6,687,330 3,650,966 3,977,207 3,476,277 6,051,173
Total Available 11,671,740 8,811,521 9,209,418 8,562,498 10,574,089
Expenditures:
Operating Expenditures:
Storm Sewer Maintenance (548,815) (555,995) (572,675) (589,855) (607,551)
Street Cleaning (130,815) (135,190) (139,246) (143,423) (147,726)
Environmental Services (402,605) (418,375) (430,926) (443,854) (457,170)
Debt Service-Revenue Bonds(2037) (63,950) (182,750) (180,350) (182,450) (182,450)
Sub-Total of Operations (1,146,185) (1,292,310) (1,323,197) (1,359,582) (1,394,896)
Capital Outlay:
2019 (5,365,000)
2020 (2,287,000)
2021 (2,800,000)
2022 (2,680,000)
2023 (5,082,000)
Sub-Total of Capital Expenditures (5,365,000) (2,287,000) (2,800,000) (2,680,000) (5,082,000)
Total Expenditures (6,511,185) (3,579,310) (4,123,197) (4,039,582) (6,476,896)
Net Position @ 12/31 $5,160,555 $5,232,211 $5,086,221 $4,522,916 $4,097,193
CITY OF GOLDEN VALLEY
2019-2023 CIP
CITY MUNICIPAL STATE AID CAPITAL PROJECT FUND(FUND 5100)
EXHIBIT Vlll
2019 2020 2021 2022 2023
Fund Balance @ 1/1 2,716,464 1,718,086 1,936,261 2,212,321 2,256,912
Revenue:
State Aid Bond Payments 130,000 135,000 145,000 150,000 150,000
Annual Maintenance Allotment From State 339,014 339,014 339,014 339,014 339,014
Special Assessments-State-Aid Bonds;
Golden Hills/Xenia Avenue 70,000 70,000 70,000 70,000 70,000
Harold Avenue Reconstruction 1,800
Hwy 55 West Special Assessments 31,440 31,440 31,440 31,440 31,440
TIF reimbursement(Hwy 55 West) 63,500 182,310 179,000 182,450 179,950
Zenith State Aid 1,425,000 75,000
Plymouth State Aid 85,000
Zane/Lindsay State Aid 2,280,000 120,000
Interest Earnings (%of Beg. Bal.) 20,373 12,886 14,522 16,592 16,927
Total Available 3,457,591 2,488,736 2,715,237 6,706,817 3,239,243
Expenditures:
Maintenance 125,000 125,000 125,000 125,000 125,000
MSA Debt Service(ends 2027) 201,005 200,165 198,916 197,455 189,000
Hwy 55 Bond Payments 63,500 182,310 179,000 182,450 179,950
Flashing Arrows 45,000 45,000
Golden Hills/Xenia Avenue 1,350,000
Zane/Lindsay Reconstruction 2,400,000
Zenith Avenue Reconstruction 1,500,000
Total Expenditures 1,739,505 552,475 502,916 4,449,905 493,950
Fund Balance @ 12/31 $1,718,086 $1,936,261 $2,212,321 $2,256,912 $2,745,293
CITY OF GOLDEN VALLEY
2019-2023 CIP
CAPITAL IMPROVEMENT FUND (FUND 6100)
EXHIBIT IX
2019 2020 2021 2022 2023
Fund Balance @ 1/1 $712,699 $245,486 $193,921 $237,160 $276,152
Revenue:
Charge to Street Reconstruction Projects to
Finance CAD&Pavement Management Systems 20,000 20,000 20,000 20,000 20,000
Franchise Fees(Centerpoint/Xcel) 200,000 200,000 200,000 200,000 200,000
Interfund Loan from Utility Fund(ends 2025) 212,760 208,080 203,400 198,720 194,040
City of Crystal 100,000
Interest Earnings (1%of Beg. Bal.) 7,127 2,455 1,939 2,372 2,762
Total Available 1,252,586 676,021 619,260 658,252 692,953
Expenditures:
Streetscape and City Hall Complex Renovation 100,000 100,000 100,000 100,000 100,000
Sidewalk,Trails and Bike Facility Renovaton 325,000 150,000 150,000 150,000 150,000
AutoCad Application 12,100 12,100 12,100 12,100 12,100
Cartegraph Street Maintenance Software 20,000 20,000 20,000 20,000
Railroad Crossing Repairs 250,000
_ TH 100 Pedestrian Bridge 200,000
Pavement Surface Treatments 100,000
Retaining Wall Replacement 100,000 100,000 100,000 100,000 100,000
Total Expenditures 1,007,100 482,100 382,100 382,100 362,100
Fund Balance @ 12/31 $245,486 $193,921 $237,160 $276,152 $330,853
CITY OF GOLDEN VALLEY
2019-2023 CIP
STREET RECONSTRUCTION CAPITAL IMPROVEMENT FUND (FUND 5400)
EXHIBIT X
2019 2020 2021 2022 2023
Fund Balance @ 1/1 $39,286 $39,482 $39,680 $39,878 $40,078
Revenue•
Bond Proceeds 3,870,000 3,350,000 3,400,000 3,400,000 3,400,000
Transfers from General Fund 500,000 500,000 500,000 500,000 500,000
Interest Earnings (1%of Beg. Bal.) 196 197 198 199 200
Total Available 4,409,482 3,889,680 3,939,878 3,940,078 3,940,278
Expenditures:
Pavement Management Program ( 3,870,000 3,350,000 3,400,000 3,400,000 3,400,000
Street Overlays 500,000 500,000 500,000 500,000 500,000
Total Expenditures 4,370,000 3,850,000 3,900,000 3,900,000 3,900,000
Fund Balance @ 12/31 $39,482 $39,680 $39,878 $40,078 $40,278
General Obligation Bonded Debt Totals
Balance at
12/31/2018
Special Assessment Bonds (PMP)
82732 3035 GO Improvement Bonds Series 2003C (ends 2019) 2011 C 665,000.00
B2799 3037 GO Improvement Bonds Series 2005C (ends 2025) 2012C 5,285,000.00
82892 3038 GO Improvement Bonds Series 2006B (ends 2026) 2013B 6,475,000.00
82221 3039 GO Improvement Bonds Series 2007C (ends 2027) 2014C 3,805,000.00
B2289 3040 GO Improvement Bonds Series 2008A(ends 2028) 2015C 6,600,000.00
B2536 3041 GO Improvement Bonds Series 2009A(ends 2029) 2017A* 9,835,000.00
B2623 3042 GO Improvement Bonds Series 2010A(ends 2030) 1,535,000.00
B2730 3043 GO Improvement Bonds Series 2011A(ends 2031) 1,265,000.00
82798 3044 GO Improvement Bonds Series 2012A(ends 2032) 1,115,000.00
B2891 3045 GO Improvement Bonds Series 2013A (ends 2033) 1,150,000.00
B2956 3046 GO Improvement Bonds Series 2014A(ends 2035) 2,235,000.00
B3040 3047 GO Improvement Bonds Series 2015A(ends 2036) 1,530,000.00
B3116 3048 GO Improvement Bonds Series 2016A(ends 2037) 1,150,000.00
B3196 3049 GO Improvement Bonds Series 2017A(ends 2038) 2,580,000.00
83249 3054 GO Improvement Bonds Series 2018A (ends 2038) 2,950,000.00
2017 A- Crossover in 2019 -
48,175,000.00
Equipment Certificates
83042 3010 GO Equipment Cert Bonds-Series 20158 270,000.00
B3115 3010 GO Equipment Cert Bonds-Series 2016B 535,000.00
B3196 3010 GO Equipment Cert Bonds-Series 2017A 815,000.00
1,620,000.00
Tax Increment Bonds
B3197 3053 GO Tax Increment Bonds of 2017B 1,170,000.00
Street Reconstruction Bonds
B3114 3052 Street Reconstruction Bonds Series 2016 C(Douglas) 5,405,000.00
Housing and Redevelopment Lease Revenue Bonds
3051 Brookview Lease Revenue Bonds 16,935,000.00
3036 Tax Abatement Bonds
Tax Abatement Bonds of 2004B 330,000.00
State Aid Bonds
5100 State Aid Bonds of 2007A 1,395,000.00
GO Revenue Bonds
7300 Utility Revenue Bonds of 2016D 2,580,000.00
Total Bonds Outstanding 77,610,000.00
City of Golden Valley, Minnesota
Capital Plan
2019 thru 2023
EXPENDITURES AND SOURCES SUMMARY
Department 2019 2020 2021 2022 2023 Total
Buildings 635,000 610,000 390,000 510,000 110,000 2,255,000
Cablecasting Improvements 200,000 200,000
Golf Course 102,675 106,000 162,000 120,000 140,000 630,675
Parks 358,000 358,000 358,000 358,000 358,000 1,790,000
Storm Water 5,365,000 2,287,000 2,800,000 2,680,000 5,082,000 18,214,000
Streets 7,116,605 4,884,575 4,785,915 8,732,005 4,756,050 30,275,150
Vehicles and Equipment 728,570 978,570 864,070 849,070 1,213,070 4,633,350
Water&Sewer Systems 2,690,000 1,765,000 2,250,000 2,260,000 2,050,000 11,015,000
EXPENDITURE TOTAL 17,195,850 10,989,145 11,609,985 15,509,075 13,709,120 69,013,175
Source 2019 2020 2021 2022 2023 Total
Bassett Creek Watershed Mgmt Comm 1,100,000 500,000 500,000 1,300,000 3,400,000
Brookview Golf Course Fund 102,675 106,000 162,000 120,000 140,000 630,675
Building Fund(5200) 635,000 610,000 390,000 510,000 110,000 2,255,000
Cablecasting Improvements 200,000 200,000
Capital Improvement Fund(6100) 907,100 482,100 382,100 382,100 362,100 2,515,500
City of Crystal 100,000 100,000
Equipment Replacement Fund 728,570 978,570 864,070 849,070 1,113,070 4,533,350
Golden Valley Youth Associations 12,500 12,500
Hennepin County 500,000 170,000 670,000
Hennepin County Environment Response Fund 300,000 300,000
ISD#281 12,500 12,500
MN DNR 2,300,000 1,000,000 1,780,000 5,080,000
Municipal State Aid(MSA-5100) 1,094,005 370,165 323,915 4,267,455 314,000 6,369,540
Park Improvement Fund(5600) 358,000 358,000 333,000 358,000 358,000 1,765,000
Special Assessment Bonds 3,870,000 3,350,000 3,400,000 3,400,000 3,400,000 17,420,000
Special Assessments 582,000 582,000
Stone Water Utility Fund(7300) 1,465,000 1,617,000 1,800,000 2,180,000 2,002,000 9,064,000
Street Improvement Fund 500,000 500,000 500,000 500,000 500,000 2,500,000
Tax Increment 63,500 182,310 179,900 182,450 179,950 788,110
Vehicle Maintenance Fund 100,000 100,000
Water&Sewer Utility-Reserve 100,000 100,000 100,000 300,000
Water&Sewer Utility Fund 2,690,000 1,765,000 2,150,000 1,860,000 1,950,000 10,415,000
SOURCE TOTAL 17,195,850 10,989,145 11,609,985 15,509,075 13,709,120 69,013,175