HomeMy WebLinkAbout[04b] Treasurer's Report
EDA Agenda Item 4b
MEETING DATE: January 16, 2018
AGENDA ITEM: November/December Finance Reports
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION: Enclosed you will find the reconciled, unaudited financial
reports through December 31, 2017. The ending undesignated balance shows a surplus of $43,198. The
designated project balance is $139,395. The balances will be updated when the audit is completed later in
spring 2018.
The other funds reported include the TIF funds, Lodging Tax, DEED CDAP Grant reimbursement and the
Revolving Loan fund. The TIF funds with deficit balances will be covered by the EDA until TIF revenue
is received to cover the deficits. The EDA has one outstanding revolving loan at the end of December for
st
the food co-op. The current, unaudited revolving loan fund balance is $68,816 at December 31.
Also included in the financial report are the second half TIF payments from the tax increment proceeds
st
received on December 1. The following TIF payments have been paid:
Central MN Credit Union $19,165.31
Bayou Blues & Alley Flats $39.91
Millstream Shops & Lofts $18,189.95
BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Request for EDA Action – Finance Reports
EDA Financial Summary
EDA Check Register
EDA Revenue Report
EDA Expenditure Report
EDA Summary CIP
nd
REQUESTED BOARD ACTION: Consider acceptance of the December financial reports and 2 half
TIF payments.
Development Meetings
Downtown Project
CHECK
#Search NameCommentsFUNDDEPARTAmount
052748CENTURYLINKT1 line/20 sets 229 #'s15046500$51.09
052749CENTURYLINK BUSINESS SERVICESlong distance telephone15046500$6.12
052877CENTURYLINKT1 line/20 sets 229 #'s15046500$51.08
052878CENTURYLINK BUSINESS SERVICESlong distance telephone15046500$5.95
052897BAYOU ALLEY FLATS, LLC2nd half TIF payment15846500$39.91
052901CENTRAL MN CREDIT UNION2nd half TIF payment15246500$19,165.31
052907KENSINGTON BANK2nd half TIF payment15746500$18,189.95
052932BRIGGS AND MORGANBayou Blues TIF/DA amendme15946500$1,750.00
052946JOVANOVICH, KADLEC & ATHMANNNov RLF loans25046500$61.25
052951LEAGUE OF MN CITIES INS TRUSTfinal audit 16-17 workers comp15046500$10.74
052964SEH, INCNov Parkway Business Center15046500$1,230.64
$40,562.04
2017December2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes31010$93,920.00$54,430.92$96,476.86
R 150-46500-33160 Federal Grants - Other33160$0.00$0.00$0.00
R 150-46500-34150 TIF/MIF Deposit34150$0.00$0.00$1,500.00
R 150-46500-36210 Interest Earnings36210$1,400.00-$96.37$762.58
R 150-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$54,334.55$98,739.44
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment31050$0.00$21,294.79$42,589.58
R 152-46500-36210 Interest Earnings36210$0.00-$0.51$22.41
R 152-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$0.00$21,294.28$42,611.99
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment31050$0.00$0.00$0.00
R 153-46500-34150 TIF/MIF Deposit34150$0.00$0.00$0.00
R 153-46500-36210 Interest Earnings36210$0.00-$1.76$0.54
R 153-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00-$1.76$0.54
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment31050$0.00$20,211.05$38,354.53
R 157-46500-36210 Interest Earnings36210$275.00-$16.91$156.17
FUND 157 TIF 2-1 Millstream$275.00$20,194.14$38,510.70
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment31050$0.00$0.00$4,181.72
R 158-46500-36210 Interest Earnings36210$5.00-$0.29$5.85
R 158-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 158 TIF 2-2 Meat Market$5.00-$0.29$4,187.57
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment31050$0.00$44.34$88.70
R 159-46500-36210 Interest Earnings36210$0.00$0.00$0.00
R 159-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$0.00$44.34$88.70
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax31600$0.00$469.66$12,046.98
R 220-46500-36210 Interest Earnings36210$0.00-$13.76$58.68
FUND 220 Lodging Tax$0.00$455.90$12,105.66
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement34200$0.00$0.00$11,077.71
R 225-46500-36210 Interest Earnings36210$0.00-$8.82$56.75
FUND 225 DEED CDAP Grant$0.00-$8.82$11,134.46
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings36210$250.00-$38.61$231.81
R 250-49302-39201 Transfers from Other Funds39201$0.00$0.00$0.00
R 250-46500-39320 Revolving Loan Principal39320$8,955.00$333.39$33,798.59
R 250-46500-39321 Revolving Loan Interest39321$1,295.00$10.16$985.60
2017December2017
Account DescrSOURCYTD Budget2017 AmtYTD Amt
R 250-46500-39322 Revolving Loan Origination Fee39322$0.00$0.00$0.00
FUND 250 Revolving Loan Fund$10,500.00$304.94$35,016.00
$106,100.00$96,617.28$242,395.06
2017December2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries$24,200.00$2,157.42$26,606.04
E 150-46500-103 Legislative Bodies$1,260.00$0.00$280.00
E 150-46500-121 PERA Contributions$1,815.00$161.82$1,995.56
E 150-46500-122 FICA Contributions$1,395.00$129.74$1,602.73
E 150-46500-123 Deferred Comp-Employer$0.00$0.00$0.47
E 150-46500-125 Medicare Contributions$325.00$30.35$374.81
E 150-46500-130 H S A- Employer Contribution$790.00$0.00$900.00
E 150-46500-131 Health Insurance$4,190.00$398.84$4,786.08
E 150-46500-132 Dental Insurance$460.00$39.34$512.84
E 150-46500-133 Life Insurance$25.00$2.53$30.42
E 150-46500-134 Disabilty Insurance$175.00$21.19$248.27
E 150-46500-151 Workers Comp. Insur. Prem.$165.00$10.74$99.92
E 150-46500-171 Clothing Allowance$60.00$0.00$0.00
E 150-46500-200 Office Supplies$500.00$0.00$265.26
E 150-46500-215 Software Support$575.00$0.00$1,006.51
E 150-46500-300 Professional Services$3,000.00$0.00$0.00
E 150-46500-303 Engineering Fee$2,000.00$1,230.64$4,614.87
E 150-46500-304 Legal Fees$1,000.00$0.00$288.75
E 150-46500-321 Telephone$675.00$57.03$711.22
E 150-46500-322 Postage$350.00$0.00$0.00
E 150-46500-328 Marketing$2,000.00$0.00$165.00
E 150-46500-331 Travel & Conference Expense$1,000.00$0.00$4.00
E 150-46500-340 Advertising$500.00$0.00$33.81
E 150-46500-433 Dues & Memberships$5,260.00$0.00$5,000.00
E 150-46500-582 Computer Software$0.00$0.00$0.00
E 150-46500-588 EDA Programs$43,600.00$0.00$0.00
E 150-46500-622 TIF/Abatement Payments$0.00$0.00$0.00
E 150-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 150 Economic Development$95,320.00$4,239.64$49,526.56
FUND 152 TIF 3-1 CMCU
E 152-46500-101 Salaries$0.00$0.00$0.00
E 152-46500-121 PERA Contributions$0.00$0.00$0.00
E 152-46500-122 FICA Contributions$0.00$0.00$0.00
E 152-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 152-46500-125 Medicare Contributions$0.00$0.00$0.00
E 152-46500-132 Dental Insurance$0.00$0.00$0.00
E 152-46500-133 Life Insurance$0.00$0.00$0.00
E 152-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 152-46500-300 Professional Services$0.00$0.00$1,630.00
E 152-46500-301 Audit & Accounting Services$750.00$0.00$0.00
E 152-46500-340 Advertising$45.00$0.00$33.81
E 152-46500-622 TIF/Abatement Payments$0.00$19,165.31$38,330.64
E 152-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 152 TIF 3-1 CMCU$795.00$19,165.31$39,994.45
FUND 153 TIF 4-1 Fortitude Senior Apts
E 153-46500-101 Salaries$0.00$0.00$0.00
E 153-46500-121 PERA Contributions$0.00$0.00$0.00
E 153-46500-122 FICA Contributions$0.00$0.00$0.00
2017December2017
Account DescrYTD Budget2017 AmtYTD Amt
E 153-46500-125 Medicare Contributions$0.00$0.00$0.00
E 153-46500-300 Professional Services$0.00$0.00$0.00
E 153-46500-340 Advertising$0.00$0.00$0.00
E 153-46500-588 EDA Programs$0.00$0.00$0.00
FUND 153 TIF 4-1 Fortitude Senior Apts$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream
E 157-46500-101 Salaries$0.00$0.00$0.00
E 157-46500-121 PERA Contributions$0.00$0.00$0.00
E 157-46500-122 FICA Contributions$0.00$0.00$0.00
E 157-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 157-46500-125 Medicare Contributions$0.00$0.00$0.00
E 157-46500-132 Dental Insurance$0.00$0.00$0.00
E 157-46500-133 Life Insurance$0.00$0.00$0.00
E 157-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 157-46500-300 Professional Services$0.00$0.00$1,426.00
E 157-46500-301 Audit & Accounting Services$500.00$0.00$0.00
E 157-46500-340 Advertising$45.00$0.00$33.81
E 157-46500-622 TIF/Abatement Payments$34,000.00$18,189.95$34,519.08
E 157-49300-720 Transfers to Other Funds$0.00$0.00$0.00
FUND 157 TIF 2-1 Millstream$34,545.00$18,189.95$35,978.89
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries$0.00$0.00$103.48
E 158-46500-121 PERA Contributions$0.00$0.00$7.76
E 158-46500-122 FICA Contributions$0.00$0.00$6.33
E 158-46500-123 Deferred Comp-Employer$0.00$0.00$1.56
E 158-46500-125 Medicare Contributions$0.00$0.00$1.48
E 158-46500-131 Health Insurance$0.00$0.00$0.00
E 158-46500-132 Dental Insurance$0.00$0.00$1.66
E 158-46500-133 Life Insurance$0.00$0.00$0.12
E 158-46500-134 Disabilty Insurance$0.00$0.00$1.19
E 158-46500-300 Professional Services$0.00$0.00$0.00
E 158-46500-301 Audit & Accounting Services$500.00$0.00$0.00
E 158-46500-340 Advertising$45.00$0.00$33.81
E 158-46500-622 TIF/Abatement Payments$4,000.00$39.91$4,012.53
FUND 158 TIF 2-2 Meat Market$4,545.00$39.91$4,169.92
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
E 159-46500-101 Salaries$0.00$0.00$0.00
E 159-46500-121 PERA Contributions$0.00$0.00$0.00
E 159-46500-122 FICA Contributions$0.00$0.00$0.00
E 159-46500-123 Deferred Comp-Employer$0.00$0.00$0.00
E 159-46500-125 Medicare Contributions$0.00$0.00$0.00
E 159-46500-132 Dental Insurance$0.00$0.00$0.00
E 159-46500-133 Life Insurance$0.00$0.00$0.00
E 159-46500-134 Disabilty Insurance$0.00$0.00$0.00
E 159-46500-300 Professional Services$0.00$1,750.00$3,176.00
E 159-46500-301 Audit & Accounting Services$750.00$0.00$0.00
E 159-46500-340 Advertising$45.00$0.00$33.81
E 159-46500-622 TIF/Abatement Payments$0.00$0.00$39.91
E 159-49300-720 Transfers to Other Funds$0.00$0.00$0.00
2017December2017
Account DescrYTD Budget2017 AmtYTD Amt
FUND 159 TIF 2-3 Bayou Blues/Alley Flat$795.00$1,750.00$3,249.72
FUND 220 Lodging Tax
E 220-46500-309 Visitors Bureau$0.00$0.00$0.00
FUND 220 Lodging Tax$0.00$0.00$0.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services$0.00$0.00$0.00
E 225-46500-340 Advertising$0.00$0.00$0.00
FUND 225 DEED CDAP Grant$0.00$0.00$0.00
FUND 250 Revolving Loan Fund
E 250-46500-300 Professional Services$0.00$0.00$0.00
E 250-46500-304 Legal Fees$0.00$61.25$61.25
E 250-46500-317 Other fees$0.00$0.00$0.00
E 250-46500-434 Certification Fee$0.00$0.00$0.00
E 250-46500-455 Revolving Loan Proceeds$0.00$0.00$0.00
FUND 250 Revolving Loan Fund$0.00$61.25$61.25
$136,000.00$43,446.06$132,980.79
4
A
1,898.58
ED
139,395.2
137,496.66137,496.66
Plan
s
2016
2016
20,
4,12/31
5,348.62
July
5,348.625,348.62
Expenditure
Improvement
December
Capital
12/31through
Capital
Recommended:
(5,000.00)
(5,000.00)(5,000.00)
2017
Adopted
Fund
EDA
General
500.00
49,100.00
48,600.0048,600.00
1,398.58
99,245.2899,245.28
100,643.86
Availablethrough
12/31/2016
2017 - moved $5,000 budget to Great St. Cloud Partnership dues
CodeNumberEquipmentBalance201720172017Balance
ProjectProjectReserveBudgetGrants/AidsSpent2017
DepartmentAccount