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01-Title Page•r 1.000 all 131 p fq! ;�J7 ,' I II I11IJ11L IIIIiI�II� ,� city of 9 olden va e 2021-2030 Capital Improvement Program Approved by City Council TBD Reviewed by Council September 8, 2020 Reviewed by Planning Commission TBD Mayor Shep Harris Council Larry Fonnest, Maurice Harris, Gillian Rosenquist, Kimberly Sanberg Management Team Tim Cruikshank Rick Birno Maria Cisneros John Crelly Tim Kieffer Marc Nevinski Kirsten Santelices Jason Sturgis Sue Virnig Cheryl Weiler City Manager Parks and Recreation Director City Attorney Fire Chief Public Works Director Physical Development Director Human Resources Director Police Chief Finance Director Communications Director December 1, 2020 The Honorable Shepard Harris, Mayor Members of the City Council Dear Mayor Harris and City Council Members: The Adopted Capital Improvement Program (CIP) for years FY 2021-2030 is presented with this transmittal. The CIP is a 10-year fiscal planning instrument used to identify needed capital projects and delineate the financing and timing of the associated projects. Generally these projects exceed $5,000 in cost and require long-term financing. An annual capital improvement budget, encompassing the projects outlined for the first two years of the CIP, is presented to the Council with the biennial budget. The CIP also identifies bond issues necessary to fund certain improvements. Since 2018, the City has not issued certificates of indebtedness to finance vehicles and equipment. Each project in the program is brought forth in the upcoming year for discussion and approval at a council meeting. Each city in the metropolitan area is required to adopt a CIP. As part of the Metropolitan Land Planning Act passed by the State Legislature in 1976, each city is required to adopt a Comprehensive Plan. In 2018, the City of Golden Valley's Comprehensive Plan was approved and included: • updated zoning and subdivision codes; • housing implementation programs; • a CIP related to transportation, sewers, and parks and open space facilities Because of its relationship to the Comprehensive Plan, the CIP is reviewed by the Planning Commission. In 2019, staff extended its number of years to 10 to coincide with the Comprehensive Plan document. The CIP should be viewed as a vehicle to accomplish the goals outlined in the City's Comprehensive Plan. These goals cover housing, sanitary and storm sewers, public facilities, transportation and parks and open spaces. An orderly expenditure of funds on capital items is a means of accomplishing the Comprehensive Plan. A complete CIP is an indispensable tool for the City Council and City staff as they manage and control the timing and financing of capital improvements needed to maintain the current high level of City services. A CIP is also used by the bond rating agencies to not only evaluate the current and future financial condition of a city, but also to evaluate the quality of a city's management. Adoption of this comprehensive CIP for 2021-2030 will enhance the City's ability to maintain its current Aa1 bond rating. Finally, a CIP is a valuable document for commission members and citizens to use to gain an understanding of how their City works and the means to accomplish its overall plan. The process for completing the 2021-2030 CIP was much the same as the process for the 2021-2022 Budget. Project requests were submitted by all the divisions and reviewed by the Management Team and appropriate supervisors to establish the feasibility and priority of the projects and match with available financing. The CIP is a planning document or guide for the future capital improvements in the City which in no way constitutes formal approval of the various projects. All of the projects will be formally approved through the City's purchasing or public improvement process. Each section lists the upcoming projects, project overview, and an estimated cost of the project. The Financing section includes a narrative analysis of financing sources involved in the program along with exhibits analyzing some of these sources, with special emphasis on the City's Capital Project Funds. Also included is an exhibit that provides a current list of bonded debt to finance the existing programs and expenditures and sources by year. The sections are: Financing Vehicles and Equipment Parks Golf Course Buildings Cablecasting Storm Sewers Water & Sanitary Sewer Utility Streets I look forward to completing these important projects in the coming fiscal year. As we move forward with this FY 2021-2030, 1 hope that this CIP meets your approval and provides a useful tool for the Council as it makes decisions regarding these projects. Timothy Cruikshank City Manager CITY OF GOLDEN VALLEY, MINNESOTA 2021-2030 CAPITAL IMPROVEMENT PROGRAM TABLE OF CONTENTS Introduction Financing Exhibit I - General Fund Projects Exhibit II - Water & Sewer Utility Fund Financing Exhibit III - Brookview Golf Course Fund Financing Exhibit IV - Equipment Replacement Fund Financing Exhibit V - Building Funds —Buildings, Cablecasting Exhibit VI - Park Improvement Fund Financing Exhibit VII - Storm Water Utility Fund Financing Exhibit VIII - City Municipal State Aid Street Fund Financing Exhibit IX - Capital Improvement Fund Financing Exhibit X - Street Reconstruction Fund Financing Exhibit XI - General Obligation Bonded Debt Totals (coming later) Vehicles & Equipment (V&E) Parks (P) Brookview Golf (GC) Buildings (B) Buildings Cablecasting (C) Storm Water (SS) Water & Sanitary Sewer Utility (W&SS) Streets (S) Appendix Special Assessment Policy Fleet Operation, Maintenance, and Replacement Policy CITY OF GOLDEN VALLEY, MINNESOTA 2021 - 2030 CAPITAL IMPROVEMENT PROGRAM FINANCING The 2021-2030 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, 2019 was $15,026,100 ($1,350,000 assigned for COVID-19). 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 12/31/19 was $11,460,004. 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, curling 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. In 2020, curling will be offered for winter activity. The net position in this fund as of December 31, 2019 was $776,676. This was slightly lower than the previous year due to the purchase of 60 golf carts. 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, 2019 was $12,042,363. Equipment Replacement Fund This capital project fund is used to finance major vehicle and equipment purchases for General Fund divisions. In 2020, 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. Buildina Fund This capital project fund is used to finance major improvements to buildings used by the General Fund divisions. A comprehensive building study will take place in 2020. It will evaluate all public buildings with an emphasis on the Public Safety needs. A major source of financing in this fund is a transfer from the General Fund. Exhibit V is an analysis of the projected revenue, expenditures and cash balances of this fund. Cablecastina 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. The council chambers remodel has been delayed until 2022 so some equipment will need to be replaced in 2021 with the remainder in 2022. 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 service 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 2024 and the infrastructure renewal program (IRP) starting in 2025. This fund will receive a general fund transfer to 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 and the future infrastructure renewal program use 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 2020-2029 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. Street Reconstruction Bonds Douglas Drive street improvements were paid for from street reconstruction bonds sold in 2016. The payment of debt service will be from franchise fees. Exhibit XI is an analysis of the current general obligation bonded debt of the City of Golden Valley. CITY OF GOLDEN VALLEY 2021 - 2030 CIP GENERAL FUND (FUND 1000) EXHIBIT I EXPENDITURES PROJECT (1) 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Transfer to Building Fund (2) $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 $500,000 Transfer to Equipment Fund 1,082,580 1,100,000 1,100,000 1,100,000 1,150,000 1,200,000 1,250,000 1,300,000 1,350,000 1,350,000 Transfer to Storm Water Fund 50,000 50,000 Transfer to Park Improvement Fund 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 Transfer to Street Reconstruction 650,000 700,000 760,000 800,000 850,000 900,000 950,000 1,000,000 1,000,000 1,000,000 Overlays Totals $2,682,580 $2,750,000 $2,750,000 $2,800 000 $2,900,000 $3 000,000 $3 100 000 $3 200 000 $3 250 000 $3 250 000 Notes: (1) Each transfer will be outlined in the respective funds. CITY OF GOLDEN VALLEY 2021-2030 CIP WATER AND SEWER UTILITY FUND (FUND 7120) EXHIBIT II 2021 2022 2023 2024 2025 2026 2027 2028 2029 Net Position @ 1/1 $13,271,839 $13,285,029 $13,413,639 $12,538,992 $11,869,227 $10,797,327 $8,766,187 $7,483,620 $6,462,345 Revenue: Franchise Fees 1,500,000 1,500,000 1,500,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 Grant 525,000 Operating Revenue 10,500,515 10,587,750 10,729,764 10,889,210 11,051,050 11,215,315 11,382,045 11,551,275 11,773,045 Total Revenue for Operations 12,000,515 12,612,750 12,229,764 12,889,210 13,051,050 13,215,315 13,382,045 13,551,275 13,773,045 Total Available 25,272,354 25,897,779 25,643,403 25,428,202 24,920,277 24,012,642 22,148,232 21,034,895 20,235,390 Expenditures: Operating Expenditures: Administration Sewer Maintenance Water Maintenance Sub -Total Operations Capital Outlay: 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Sub -Total Capital Expenses Total Expenses Net Position @ 12/31 (582,325) (600,850) (615,871) (631,268) (647,050) (663,226) (679,807) (696,802) (714,222) (3,684,375) (3,775,840) (3,889,115) (4,005,789) (4,125,962) (4,249,741) (4,377,233) (4,508,550) (4,643,807) (5,070,625) (5,197,450) (5,249,425) (5,301,919) (5,354,938) (5,408,487) (5,462,572) (5,517,198) (5,572,370) (9,337,325) (9,574,140) (9,754,411) (9,938,975) (10,127,950) (10,321,454) (10,519,612) (10,722,550) (10,930,399) (2,650,000) (2,910,000) (3,350,000) (3,620,000) (3,995,000) (4,925,000) (4,145,000) (3,850,000) (3,900,000) tz,b.-)u,uuu) (L,glU,000) (3,350,000) (3,620,000) (3,995,000) (4,925,000) (4,145,000) (3,850,000) (3,900,000) (11,987,325) (12,484,140) (13,104,411) (13,558,975) (14,122,950) (15,246,454) (14,664,612) (14,572,550) (14,830,399) $13,285,029 $13,413,639 $12,538,992 $11,869,227 $10,797,327 $8,766,187 $7,483,620 $6,462 345 $5 404 991 CITY OF GOLDEN VALLEY 2021-2030 CIP BROOKVIEW GOLF COURSE FUND (FUND 7150) EXHIBIT III 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Net Position @ 1/1 $522,521 $549,831 $509,781 $343,665 $357,265 $336,389 $67,871 $145,573 $231,384 $341,222 Revenue: Interfund Loan Total Course Revenue Total Available Expenses: Operating Expenses: Capital Outlay 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total Expenses Net Position @ 12/31 1,800,000 3,106,000 3,227,000 3,307,675 3,390,367 3,475,126 3,562,004 3,651,054 3,742,331 3,835,889 3,931,786 3,628,521 5,576,831 3,817,456 3,734,032 3,832,391 3,898,393 3,718,925 3,887,903 4,067,272 4,273,009 (2,988,690) (3,087,050) (3,148,791) (3,211,767) (3,276,002) (3,341,522) (3,408,353) (3,476,520) (3,546,050) (3,616,971) (90,000) (1,980,000) (325,000) (165,000) (220,000) (489,000) (165,000) (180,000) (180,000) (320,000) (3,078,690) (5,067,050) (3,473,791) (3,376,767) (3,496,002) (3,830,522) (3,573,353) (3,656,520) (3,726,050 (3,616,971) $549,831 $509,781 $343,665 $357,265 $336,389 $67,871 $145,573 $231,384 $341,222 $656,037 Fund Balance @ 1/1 Revenue: Sale of Assets (Auction proceeds): Trade In of Tool cats/Load e rs Transfer from Vehicle Maintenance VOTF Transfer General Fund Transfer CITY OF GOLDEN VALLEY 2021-2030 CIP EQUIPMENT REPLACEMENT FUND (FUND 5700) EXHIBIT IV 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2,294,513 1,985,768 2,000,556 1,936,491 1,711,786 1,404,834 1,594,812 1,617,190 1,274,792 1,868,970 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 150,000 150,000 150,000 150,000 150,000 195,000 195,500 195,500 195,500 195,500 100,000 1,082,580 1,100,000 1,100,000 1,100,000 1,150,000 1,200,000 1,250,000 1,300,000 1,350,000 1,350,000 Interest Earnings (Beginning Balance) 22,945 19,858 20,006 19,365 17,118 14,048 15,948 16,172 12,748 18,690 Total Available 3,585,038 3,290,626 3,405,561 3,240,856 3,063,904 2,848,882 3,091,260 3,163,862 2,868,040 3,468,160 Expenditures: 2017A Equipment Certificates (284,200) 2021 (1,315,070) 2022 (1,290,070) 2023 (1,469,070) 2024 (1,529,070) 2025 (1,659,070) 2026 (1,254,070) 2027 (1,474,070) 2028 (1,889,070) 202 (999,070) 20 Future Fire Trucks (2032/2035) (1,014,070)9 Total Expenditures (1,599,270) (1,290,070) (1,469,070) (1,529,070) (1,659,070) (1,254,070) (1,474,070) (1,889,070) (999,070) (1,500,000) (2,514,070) Fund Balance @12/31 1,985,768 2,000,556 1,936,491 1,711,786 1,404,834 1,594,812 1,617,190 1,274,792 1,868,970 954,090 CITY OF GOLDEN VALLEY 2021-2030 CIP BUILDING FUND (FUND 5200) EXHIBIT V 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Fund Balance @ 1/1 $1,692,349 $1,875,042 $329,104 $396,573 $644,547 $1,119,381 $1,597,776 $2,079,760 $2,510,358 $2,899,186 Revenue: Transfer From General Fund Interest Earnings 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 Total Available _ 12,693 2,205,042 14,063 2,389,104 2 468 2,974 831,573 899,547 4,834 1,149,381 8,395 1,627,776 11,983 2,109,760 15,598 18,828 21,744 2,595,358 3,029,186 3,420,929 Expenditures: 2021 (330,000) 2022 (2,060,000) 2023 (435,000) 2024 (255,000) 2025 (30,000) 2026 2027 (30,000) 8 (30,000) 202 2029(85,000) 2030 (130,000) 80,000 Total Expenditures (330,000) (2,060,000) (435,000) (255,000) (30,000) (30,000) (30,000) (85,000) (130,000) (80,000) Fund Balance @ 12/31 $1,875 042 $329,104 $396 573 $644 547 $1 119,381 $1,597 776 $2,079,760 $2,510 358 $2,899,186 $3,340,929 CITY OF GOLDEN VALLEY 2021-2030 CIP CABLECASTING FUND (FUND 5500) EXHIBIT V-1 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Fund Balance @ 1/1 $353,190 $373,956 $98,126 $129,302 $159,098 $184,894 $205,818 $221,847 $232,956 $239,121 Revenue: Franchise Fees Interest Earnings 34,000 32,300 30,685 29,150 25,000 20,000 15,000 10,000 5,000 0 Total Available 1,766 388,956 1,870 408,126 491 647 129,302 159,098 795 184,894 924 205,818 1,029 221,847 1,109 232,956 1,165 239,121 1,196 240,317 Expenditures: Total Expenditures Fund Balance @ 12/31 2021 (15,000) 2022 (310,000) 2023 2024 2025 2026 2027 2028 2028 2029 2030 tio,uuu) (s1u,uuu) 0 0 0 0 0 0 0 0 $373,956 $98,126 $129,302 $159,098 $184 894 $205 818 $221,847 $232 956 $239,121 $240 317 Fund Balance @ 1/1 Revenue: . Transfer From General Fund Hennepin County Grants Little League Payment Bench Donation Park Dedication Fee Golden Valley Little League Interest Earnings Total Available Expenditures: Total Expenditures Fund Balance @ 12/31 CITY OF GOLDEN VALLEY 2021-2030 CIP PARK IMPROVEMENT FUND (FUND 5600) EXHIBIT VI 2021 2022 2023 2024 2025 2026 2027 2028 2029 >ngn $496,155 $684,876 $854,013 $315,418 $317,784 $320,167 $322,568 $324,987 $327,425 $329,881 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 400,000 3,721 5,137 6,405 2,366 2,383 2,401 2,419 2,437 2,456 2,474 899,876 1,090,013 1,260,418 717,784 720,167 722,568 724,987 727,425 729,881 732,355 2021 (215,000) 2022 (236,000) 2023 (945,000) 2024 (400,000) 2025 (400,000) 2026 (400,000) 2027 (400,000) 2028 (400,000) 2029 (400,000) 2030 (215,000) (236,000) (945,000) (400,000) (400,000) (400,000) (400,000 400,000 (400,000) (400,000) (400,000) $684,876 $854,013 $315,418 $317,784 $320,167 $322,568 $324,987 $327,425 $329,881 $332,355 Net Position @ 1/1 Revenue: Storm Sewer Charges Bassett Creek Watershed Management Commission Hennepin County State of MN (Bridge Bonds/DNR) Other-BWSR Three Rivers Park District Transfer from General Fund Bonded Debt-Water/Sewer-HRA-2016D Sale of Assets Interest Earnings Total Revenue Total Available Expenditures: Operating Expenditures: Storm Water Maintenance Street Cleaning Environmental Services Debt Service - Revenue Bonds (2037) Sub -Total of Operations Capital Outlay: 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Sub -Total of Capital Expenditures Total Expenditures Net Position @ 12/31 CITY OF GOLDEN VALLEY 2021 - 2030 CIP STORM WATER UTILITY FUND (FUND 7300) EXHIBIT VII 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 $9,448,742 $8,776,592 $7,850,852 $7,359,127 $6,548,725 $5,998,171 $5,149,256 $4,623,168 $4,092,285 $4,240,685 2,675,000 2,775,000 2,775,000 2,775,000 2,775,000 2,875,000 2,875,000 2,975,000 2,975,000 2,975,000 500,000 1,300,000 400,000 1,400,000 200,000 1,350,000 1,000,000 1,780,000 1,125,000 1,125,000 50,000 150,000 150,000 179,900 179,900 179,950 182,400 179,800 182,150 178,775 179,650 181,009 181,009 62,450 50,000 78,509 50,500 73,591 50,500 65,487 50,500 59,982 50,500 51,493 60,500 46,232 50,500 40,923 50,500 4,317,350 3,504,900 4,333,459 4,481,491 4,470,787 5,147,632 4,430,768 4,536,382 3,247,432 42,407 3,248,916 13,766,092 12,281,492 12,184,311 11,840,618 11,019,512 11,145,802 9,580,024 9,159,550 7,339,717 7,489,601 (577,570) (149,790) (585,415) (153,470) (597,123) (156,539) (609,066) (159,670) (621,247) (162,864) (633,672) (166,121) (646,345) (169,443) (659,272) (672,458) (685,907) (516,790) (523,855) (539,571) (555,758) (572,431) (589,603) (607,292) (172,832) (625,510) (176,289) (644,276) (179,815) (663,604) (180,350) A7A Cnn% (182,900) /A (179,950) (182,400) (179,800) (182,150) (178,775) (179,650) (181,010) (181.010) (3,565,000) (2,985,000) (3,352,000) (3,785,000) (3,485,000) (4,425,000) (3,355,000) (3,430,000) (1,425,000) (3,565,000) (2,985 000) (3,352,000) (3,785,000) (3,485,000) (4,425,000) (3,355,000) (3,430,000) (1,425,000) 1,685,000 (1,685,000) (4,989,500) (4,430,640) (4,825,183) (5,291,894) (5,021,341) (5,996,546) (4,956,855) (5,067,265) (3,099,032) (3,395,335) $8,776,592 $7,850,852 $7,352&-J& 13$6 548 725 $5 998 171 $5 149,256 $4 623 168 $4 092 285 $4 240 685 $4 094 266 Fund Balance @ 1/1 Revenue: State Aid Bond Payments Annual Maintenance Allotment From State Annual Maintenance Allotment From State Special Assessments: Golden Hills/Xenia Avenue State Bonding -Grant-55 Douglas Assessments Zenith State Aid Zane/Lindsay State Aid Interest Earnings (% of Beg. Bal.) Total Available Expenditures: 2021 2022 2023 2024 2025 2026 2027 2028 2029 CITY OF GOLDEN VALLEY 2021-2030 CIP CITY MUNICIPAL STATE AID CAPITAL PROJECT FUND (FUND 5100) _.. _ EXHIBIT VIII 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1,254,755 1,402,567 (851,155) 1,688,573 1,851,299 2,019,592 2,195,603 479,442 660,250 855,249 145,000 150,000 155,000 160,000 165,000 175,000 180,000 315,047 315,047 315,047 315,047 315,047 315,047 315,047 315,047 315,047 315,047 20,315 17,221 14,025 10,725 7,321 3,712 58,040 58,040 58,040 58,040 58,040 58,040 58,040 58,040 3,500,000 3,500,000 2,000,000 2,400,000 9,411 10,519 (6,384) 12,664 13,885 15,147 16,467 3,596 4,952 6,414 ,802,567 5,453,395 5,584,573 2,245,049 2,410,592 4,586,538 2,765,157 856,125 980,249 1,176,710 (400,000) (6,304,550) (3,896,000) (393,750) (391,000) (2,390,935) (2,285,715) (195,875) (125,000) 125,000 (400,000) (6,304,550) (3,896,000) (393 750) (391 000) (2 390 935) (2 285 715) (195,875) (125,000) (125,000) Fund Balance @ 12/31 $1,402,567 ($851 155) $1 688 573 $1 851 299 $2 019 592 $2 195 603 $479 442 $660 250 $855 249 $1 051 710 Fund Balance @ 1/1 Revenue: Bond Proceeds Transfers from General Fund -Overlays Interest Earnings (1 % of Beg. Bal.) Total Available Expenditures: 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total Expenditures Fund Balance @ 12/31 CITY OF GOLDEN VALLEY 2021 - 2030 CIP STREET RECONSTRUCTION CAPITAL IMPROVEMENT FUND (FUND 5400) EXHIBIT X 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 $1,496,016 $1,553,496 $661,263 $814,570 $1,018,643 $1,773,736 $2,132,604 $2,518,268 $2,930,859 $3,345,513 3,650,000 3,800,000 3,800,000 3,800,000 0 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 650,000 700,000 750,000 800,000 850,000 450,000 475,000 500,000 500,000 500,000 7,480 7,767 3,306 4,073 5,093 8,869 10,663 12,591 14,654 16,728 5,803,496 6,061,263 5,214,570 5,418,643 1,873,736 4,232,604 4,618,268 5,030,859 5,445,513 5,862,241 (4,250,000) (5,400,000) (4,400,000) (4,400,000) (100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) (4,250,000) (5,400,000) (4,400,000) (4,400,000) (100,000) (2,100,000 (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000) $1,553,496 $661,263 $814,570 $1,018,643 $1,773,736 $2,132,604 $2,518,268 $2,930,859 $3,345,513 $3,762,241 Fund Balance @ 1/1 Revenue: Charge to Street Reconstruction Projects to Finance CAD & Pavement Management Systems Franchise Fees (Centerpoint/Xcel) General Fund Transfer Interfund Loan from Utility Fund (ends 2025) Interest Earnings Total Available Expenditures: 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 Total Expenditures Fund Balance @ 12/31 CITY OF GOLDEN VALLEY 2021 - 2030 CIP CAPITAL IMPROVEMENT FUND (FUND 6100) EXHIBIT IX 2021 2022 2023 2024 2025 2026 2027 2028 2029 $3,399,357 $2,349,750 $2,184,868 $2,113,656 $1,691,733 $1,615,590 $1,694,646 $1,649,493 $1,778,888 20,000 200,000 20,000 200,000 20,000 200,000 20,000 200,000 20,000 200,000 20,000 20,000 20,000 20,000 200,000 200,000 200,000 200,000 2 03, 400 198,720 194,040 194,040 194,040 450,000 475,000 500,000 500,000 33,994 23,498 21,849 21,137 16,917 16,156 16,946 16,495 17,789 3,856,750 2,791,968 2,620,756 2,548,833 2,122,690 2,301,746 2,406,593 2,385,988 2,516,676 (1,507,000) (607,100) (507,100) (857,100) (507,100) (607,100) (757,100) (607,100) (607,100) (1,507,000) (607,100) (507,100) (857,100) (507,100) (607,100 (757,100) (607,100) (607,100) $2,349,750 $2,184,868 $2,113,656 $1,691,733 $1,615,590 $1,694,646 $1,649,493 $1,778 888 $1,909,576