HomeMy WebLinkAbout[04b] Treasurer Report w EDA Agenda Item 4(b)
cm OF ST.JOSEPH
MEETING DATE: Jun 18,2019
AGENDA ITEM: May Finance Reports
SUBMITTED BY: Finance
BOARD/COMMISSION/COMMITTEE/COUNCIL RECOMMENDATION: N/A
PREVIOUS EDA ACTION: None
BACKGROUND INFORMATION:
Enclosed you will find the reconciled financial reports through May 31,2019. The ending undesignated
balance shows a deficit of$27,630. The designated project balance is$60,911. The capital designated
balance includes 2019 capital budget balance of$44,100. The budget is covered by property taxes that
will not be received until June/July/December. The undesignated fund balance is a surplus of$16,470
without showing the 2019 capital budget.
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. There are currently no revolving loans outstanding. The current,
revolving loan fund balance is$215,259 at May 31St,including$136,714 reserved balance from the EDA
fund to be used for future economic development.
The Lodging Tax fund has a balance of$33,304 on May 31st. The CVB Board will review projects and
budget proposals over the next meeting or two for the EDA's review.
Finally,please complete the attached expense report for your first quarter EDA meetings(non-council
only).
BUDGET/FISCAL IMPACT: For Information Only
ATTACHMENTS: Request for EDA Action—Finance Reports
EDA Financial Summary
EDA Balance Sheet
EDA Check Register
EDA Revenue Report
EDA Expenditure Report
EDA Summary CIP
REQUESTED BOARD ACTION: Consider acceptance of the May financial reports.
St. Joseph Economic Development Authority
Summary Treasurer's Report - Fund 150
May 2019
Fund 150, EDA Balance as of December 31,2018(Audited) 60,891.05
Year to Date Revenue:
Interest Earnings 431.26
TIF/MIF Deposit 500.00
DEED Housing Grant Proceeds 24,461.00
Abatement Reimbursement(School District) 2,517.00
Ad Valorem Taxes -
Transfers from Other Funds 11,488.66
Total Revenue 39,397.92
Year to Date Expenditures by Object:
Board Stipends -
Staff Salaries/Training (16,757.11)
Workers Comp Premium -
Software Support/Office Supplies (1,323.37)
Professional Services (24,461.00)
Legal/Engineering Fees (14,687.38)
Telephone (261.73)
Greater St. Cloud Development Investment (5,000.00)
Business Round Table Outreach -
Marketing -
Abatement Payments(Country Manor) (2,017.00)
CM Housing Grant Reimbursement -
EDA Programs (2,500.00)
Transfer to Other Funds -
Total Expenses (67,007.59)
Fund Summaries as of May 31, 2019:
EDA Fund Balance-Fund 150 - unaudited 33,281.38
Designated for Capital Programs 60,911.20
Undesignated (27,629.82)
TIF 3-1 Central MN Credit Union Fund Balance-Fund 152 (293.45)
TIF 4-1 Fortitude Senior Apts Fund Balance-Fund 153 4,591.31
TIF 2-1 Millstream Shops and Lofts Fund Balance-Fund 157 26,137.10
TIF 2-2 St.Joseph Meat Market Fund Balance-Fund 158 4.03
TIF 2-3 Bayou Blues&Alley Flats Fund Balance-Fund 159 (8,513.11)
Lodging Tax Fund Balance-Fund 220 33,303.99
DEED CDAP Grant Fund Balance-Fund 225 29,280.59
Revolving Loan Fund Balance-Fund 250 215,259.22
Designated for Revolving Loan Program I 78,545.56
City of St. Joseph 06/07/19 2:30 PM
Page 1
EDA Expenditure Report
Current Period:May 2019
2019 May 2019
Account Descr YTD Budget 2019 Amt YTD Amt
FUND 150 Economic Development
E 150-46500-101 Salaries $28,325.00 $2,466.06 $11,864.57
E 150-46500-103 Legislative Bodies $1,260.00 $0.00 $0.00
E 150-46500-121 PERA Contributions $2,125.00 $184.96 $889.87
E 150-46500-122 FICA Contributions $1,710.00 $147.32 $710.81
E 150-46500-123 Deferred Comp-Employer $0.00 $0.00 $0.00
E 150-46500-125 Medicare Contributions $400.00 $34.46 $166.26
E 150-46500-130 H S A-Employer Contribution $790.00 $0.00 $450.00
E 150-46500-131 Health Insurance $5,040.00 $470.58 $2,352.90
E 150-46500-132 Dental Insurance $415.00 $38.54 $192.70
E 150-46500-133 Life Insurance $25.00 $2.53 $12.65
E 150-46500-134 Disabilty Insurance $240.00 $24.31 $117.35
E 150-46500-151 Workers Comp.Insur. Prem. $155.00 $0.00 $0.00
E 150-46500-200 Office Supplies $500.00 $0.00 $80.85
E 150-46500-215 Software Support $935.00 $0.00 $1,242.52
E 150-46500-300 Professional Services $0.00 $24,461.00 $24,461.00
E 150-46500-303 Engineering Fee $2,000.00 $374.00 $14,687.38
E 150-46500-304 Legal Fees $1,000.00 $0.00 $0.00
E 150-46500-308 Community Programs $178,625.00 $0.00 $0.00
E 150-46500-321 Telephone $475.00 $48.27 $261.73
E 150-46500-322 Postage $100.00 $0.00 $0.00
E 150-46500-328 Marketing $1,000.00 $0.00 $0.00
E 150-46500-331 Travel&Conference Expense $500.00 $0.00 $0.00
E 150-46500-340 Advertising $200.00 $0.00 $0.00
E 150-46500-433 Dues&Memberships $5,295.00 $0.00 $5,000.00
E 150-46500-582 Computer Software $500.00 $0.00 $0.00
E 150-46500-588 EDA Programs $44,100.00 $2,500.00 $2,500.00
E 150-46500-622 TIF/Abatement Payments $15,000.00 $0.00 $2,017.00
E 150-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 150 Economic Development $290,715.00 $30,752.03 $67,007.59
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 $0.00
E 152-46500-301 Audit&Accounting Services $750.00 $0.00 $0.00
E 152-46500-340 Advertising $45.00 $0.00 $0.00
E 152-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 152-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 152 TIF 3-1 CMCU $795.00 $0.00 $0.00
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
City of St. Joseph 06/07/19 2:30 PM
Page 2
EDA Expenditure Report
Current Period:May 2019
2019 May 2019
Account Descr YTD Budget 2019 Amt YTD 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
E 153-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 153-49300-720 Transfers to Other Funds $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 $0.00
E 157-46500-301 Audit&Accounting Services $500.00 $0.00 $0.00
E 157-46500-340 Advertising $45.00 $0.00 $0.00
E 157-46500-622 TIF/Abatement Payments $34,000.00 $0.00 $0.00
E 157-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 157 TIF 2-1 Millstream $34,545.00 $0.00 $0.00
FUND 158 TIF 2-2 Meat Market
E 158-46500-101 Salaries $0.00 $0.00 $0.00
E 158-46500-121 PERA Contributions $0.00 $0.00 $0.00
E 158-46500-122 FICA Contributions $0.00 $0.00 $0.00
E 158-46500-123 Deferred Comp-Employer $0.00 $0.00 $0.00
E 158-46500-125 Medicare Contributions $0.00 $0.00 $0.00
E 158-46500-131 Health Insurance $0.00 $0.00 $0.00
E 158-46500-132 Dental Insurance $0.00 $0.00 $0.00
E 158-46500-133 Life Insurance $0.00 $0.00 $0.00
E 158-46500-134 Disabilty Insurance $0.00 $0.00 $0.00
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 $0.00
E 158-46500-622 TIF/Abatement Payments $4,000.00 $0.00 $0.00
FUND 158 TIF 2-2 Meat Market $4,545.00 $0.00 $0.00
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 $0.00 $0.00
E 159-46500-301 Audit&Accounting Services $750.00 $0.00 $0.00
E 159-46500-340 Advertising $45.00 $0.00 $0.00
City of St. Joseph 06/07/19 2:30 PM
Page 3
EDA Expenditure Report
Current Period:May 2019
2019 May 2019
Account Descr YTD Budget 2019 Amt YTD Amt
E 159-46500-622 TIF/Abatement Payments $0.00 $0.00 $0.00
E 159-49300-720 Transfers to Other Funds $0.00 $0.00 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat $795.00 $0.00 $0.00
FUND 220 Lodging Tax
E 220-46500-300 Professional Services $0.00 $1,189.00 $1,189.00
E 220-46500-309 Visitors Bureau $14,100.00 $0.00 $0.00
E 220-46500-328 Marketing $0.00 $0.00 $0.00
E 220-46500-340 Advertising $0.00 $0.00 $0.00
FUND 220 Lodging Tax $14,100.00 $1,189.00 $1,189.00
FUND 225 DEED CDAP Grant
E 225-46500-300 Professional Services $12,500.00 $3,125.00 $6,250.00
E 225-46500-340 Advertising $0.00 $0.00 $0.00
FUND 225 DEED CDAP Grant $12,500.00 $3,125.00 $6,250.00
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 $0.00 $0.00
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 $0.00 $0.00
$357,995.00 $35,066.03 $74,446.59
2019 Capital Expenditures
General Fund Capital Improvement Plan-EDA
EDA Recommended:July 17,2018
Adopted December 17,2018
12/31/2018
Available through 5/31 through 5/31
Project Project Reserve Budget Grants/Aids Spent 2019
Department Account Code Number Equipment Balance 2019 2019 2019 Balance
EDA 150-46500-582 EDA-1401 Computer Software 2,398.58 500.00 2,898.58
EDA 150-46500-588 EDA-1402 Business Development 31,100.00 44,100.00 17,187.38 58,012.62
RLF 250-46500-588 EDA-1402 Business Development 136,713.66 - 136,713.66
167,813.66 44,100.00 - 17,187.38 194,726.28
TOTAL EDA CIP 170,212.24 44,600.00 - 17,187.38 197,624.86
City of St. Joseph 06/07/19 2:29 PM
Page 1
EDA Check Register
CHECK
# Search Name Comments FUND DEPART Amount
054529 SEH,INC move remaining$40k exp 408 150 46500 $14,313.38
054537 CENTURYLINK T1 line/20 sets 229#'s 150 46500 $56.34
054539 COUNTRY MANOR ST.JOSEPH 2nd half 2018 ISD742 abateme 150 46500 $2,017.00
054641 CENTRAL MN HOUSING PARTNERSHIP 2019 housing grant draw#1 a 150 46500 $3,100.00
054642 MINNESOTA HOME IMPROVEMENTS 2019 housing grant draw#1 in 150 46500 $12,341.00
054642 MINNESOTA HOME IMPROVEMENTS 2019 housing grant draw#1 in 150 46500 $9,020.00
054645 STEARNS COUNTY AUDITOR-TREASUR earnest money-Liberty Pointe 150 46500 $2,500.00
054647 BRUNO PRESS concept&design Joetown Log 220 46500 $1,189.00
054649 CENTURYLINK T1 line/20 sets 229#'s 150 46500 $48.27
054732 SEH,INC BDPI grant award 150 46500 $374.00
$44,958.99
City of St. Joseph 06/07/19 2:30 PM
Page 1
EDA Revenue Report
Current Period:May 2019
2019 May 2019
Account Descr SOURC YTD Budget 2019 Amt YTD Amt
FUND 150 Economic Development
R 150-46500-31010 Current Ad Valorem Taxes 31010 $111,240.00 $0.00 $0.00
R 150-46500-33160 Federal Grants-Other 33160 $178,625.00 $24,461.00 $24,461.00
R 150-46500-34150 TIF/MIF Deposit 34150 $0.00 $500.00 $500.00
R 150-46500-34160 Tax Abatement Reimbursement 34160 $0.00 $500.00 $2,517.00
R 150-46500-36210 Interest Earnings 36210 $850.00 $85.06 $431.26
R 150-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $11,488.66
FUND 150 Economic Development $290,715.00 $25,546.06 $39,397.92
FUND 152 TIF 3-1 CMCU
R 152-46500-31050 Tax Increment 31050 $0.00 $0.00 $0.00
R 152-46500-36210 Interest Earnings 36210 $0.00 $0.64 $7.90
R 152-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
FUND 152 TIF 3-1 CMCU $0.00 $0.64 $7.90
FUND 153 TIF 4-1 Fortitude Senior Apts
R 153-46500-31050 Tax Increment 31050 $0.00 $0.00 $0.00
R 153-46500-34150 TIF/MIF Deposit 34150 $0.00 $0.00 $0.00
R 153-46500-36210 Interest Earnings 36210 $0.00 $14.16 $51.88
R 153-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
FUND 153 TIF 4-1 Fortitude Senior Apts $0.00 $14.16 $51.88
FUND 157 TIF 2-1 Millstream
R 157-46500-31050 Tax Increment 31050 $0.00 $0.00 $0.00
R 157-46500-36210 Interest Earnings 36210 $0.00 $80.60 $370.38
FUND 157 TIF 2-1 Millstream $0.00 $80.60 $370.38
FUND 158 TIF 2-2 Meat Market
R 158-46500-31050 Tax Increment 31050 $0.00 $0.00 $0.00
R 158-46500-36210 Interest Earnings 36210 $0.00 $1.55 $6.74
R 158-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
FUND 158 TIF 2-2 Meat Market $0.00 $1.55 $6.74
FUND 159 TIF 2-3 Bayou Blues/Alley Flat
R 159-46500-31050 Tax Increment 31050 $0.00 $0.00 $0.00
R 159-46500-36210 Interest Earnings 36210 $0.00 $3.97 $8.52
R 159-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
FUND 159 TIF 2-3 Bayou Blues/Alley Flat $0.00 $3.97 $8.52
FUND 220 Lodging Tax
R 220-46500-31600 Lodging Tax 31600 $14,000.00 $913.96 $2,965.34
R 220-46500-36210 Interest Earnings 36210 $100.00 $101.08 $476.13
FUND 220 Lodging Tax $14,100.00 $1,015.04 $3,441.47
FUND 225 DEED CDAP Grant
R 225-46500-34200 DEED Housing Reimbursement 34200 $0.00 $0.00 $0.00
R 225-46500-36210 Interest Earnings 36210 $25.00 $106.35 $521.86
R 225-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
FUND 225 DEED CDAP Grant $25.00 $106.35 $521.86
FUND 250 Revolving Loan Fund
R 250-46500-36210 Interest Earnings 36210 $100.00 $663.83 $3,124.82
R 250-49302-39201 Transfers from Other Funds 39201 $0.00 $0.00 $0.00
City of St. Joseph 06/07/19 2:30 PM
Page 2
EDA Revenue Report
Current Period:May 2019
2019 May 2019
Account Descr SOURC YTD Budget 2019 Amt YTD Amt
R 250-46500-39320 Loan Principal 39320 $995.00 $0.00 $0.00
R 250-46500-39321 Loan Interest 39321 $5.00 $0.00 $0.00
R 250-46500-39322 Loan Origination Fee 39322 $0.00 $0.00 $0.00
FUND 250 Revolving Loan Fund $1,100.00 $663.83 $3,124.82
$305,940.00 $27,432.20 $46,931.49