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2017 Monticello Annual Comprehensive Financial Report                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           CITY OF MONTICELLO Required Supplementary Information Schedule of Employer's Share and Non-Employer Proportionate Share of Net Pension Liability - Public Employees Retirement Association Last Ten Fiscal Years PERA Fiscal Year Ending June 30, Employer's Proportion (Percentage) of the Net Pension Liability Employer's Proportionate Share (Amount) of the Net Pension Liability Employer's Proportionate Share of the State of Minnesota's Proportionate Share of the Net Pension Liability Total Employer's Proportionate Share of the Net Pension Liability Employer's Covered Payroll Employer's Proportionate Share of the Net Pension Liability as a Percentage of its Covered Payroll Plan Fiduciary Net Position as a Percentage of the Total Pension Liability 2015 0.0578% $2,995,496 $0 $2,995,496 $3,395,756 88.21% 78.2% 2016 0.0588% 4,774,268 62,387 4,836,655 3,651,024 130.77% 68.9% 2017 0.0549% 3,504,780 44,041 3,548,821 3,534,506 99.16% 75.9% Note 1: Changes in Plan Provisions. On January 1, 2015, the Minneapolis Employees Retirement Fund was merged into the GERF, which increased the total pension liability by $1.1 billion and increased the fiduciary plan net position by $892 million. Upon consolidation, state and employer contributions were revised. Note 2: Changes in Actuarial Assumptions. (1) 2015 Changes - The assumed post-retirement benefit increse rate was changed from 1.00 percent per year through 2030 and 2.50 percent per year thereafter to 1.00 percent per year through 2035 and 2.50 percent per year thereafter. (2) 2016 Changes - The assumed post-retirement benefit increase rate was changed from 1.00 percent per year through 2035 and 2.5 percent per year thereafter to 1.00 percent per year for all future years. The assumed investment return and the single discount rate were both changed from 7.90 percent to 7.50 percent. Other assumptions were changed pursuant to the experience study dated June 30, 2015. The assumed future salary increases, payroll growth, and inflation were decreased by 0.25 percent to 3.25 percent for payroll growth and 2.50 percent for inflation. (3) 2017 Changes - The combined Service Annuity (CSA) loads were changed from 0.8 percent for active members and 60 percent for vested and non vested deferred members. The revised CSA loads are now zero percent for active member liability, 15.0 percent for vested deferred member liability, and 3.0 percent for nonvested deferred member liability. The assumed post-retirement benefit increase rate was changed from 1.0 percent per year for all years, to 1.0 percent per year through 2044, and 2.5 percent per year thereafter. Note 3: The city implemented GASB Statement No. 68 in fiscal 2015 (using a June 30, 2015 measurement date). This schedule is intended to present 10-year trend information. Additional years will be added as they become available. Note 4: For purposes of this schedule, covered payroll is defined as "pensionable wages." General Employees Retirement Fund 57 CITY OF MONTICELLO Required Supplementary Information Schedule of Employer's Pension Contributions - Public Employees Retirement Association Last Ten Fiscal Years Fiscal Year Ending December 31, Statutorily Required Contributions (a) Contributions in Relation to the Statutorily Required Contributions (b) Contribution Deficiency (Excess) (a-b) Employer's Covered Payroll (c) Contributions as a Percentage of Covered Payroll (b/c) 2015 266,042$ 266,042$ -$ 3,547,217$ 7.5% 2016 267,516 267,516 - 3,566,884 7.5% 2017 269,721 269,721 - 3,596,280 7.5% Note 1: For purposes of this schedule, covered payroll is defined as "pensionable wages." Note 2: The city implemented GASB Statement No. 68 in fiscal 2015 using a June 30, 2015 measurement date. This schedule is intended to present 10-year trend information. Additional years will be added as they become available. General Employees Retirement Fund 58 CITY OF MONTICELLO Required Supplementary Information Schedule of Changes in the Fire Relief Association's Net Pension Liability (Asset) and Related Ratios Last Ten Fiscal Years 2015 2016 2017 Total pension liability Service cost 77,343$ 79,730$ 66,097$ Interest 41,888 44,224 49,857 Changes in benefit terms - 90,761 67,016 Experience gain/(loss) - (53,156) (30,666) Effect of changes in assumptions - - (10,673) Benefit payments, including refund of member contributions (128,101) (1,168) (164,699) Net change in total pension liability (8,870) 160,391 (23,068) Total pension liability - beginning 1,026,005 1,017,135 1,177,526 Total pension liability - ending (A)1,017,135$ 1,177,526$ 1,154,458$ Plan fiduciary net position Contributions - State 120,027$ 123,656$ 125,764$ Contributions - Municipal - - - Supplemental benefits reimbursements 2,000 - 2,000 Net investment income (17,673) 55,902 126,579 Benefit payments, including refund of member contributions (128,101) (1,168) (164,699) Administrative expenses (3,532) (4,144) (4,331) Net change in plan fiduciary net position (27,279) 174,246 85,313 Plan fiduciary net position - beginning 1,053,739 1,026,460 1,200,706 Plan fiduciary net position - ending (B)1,026,460$ 1,200,706$ 1,286,019$ Net pension liability (asset) - ending (A)-(B) (9,325) (23,180) (131,561) Plan fiduciary net position as a percentage of the total pension liability 100.9% 102.0% 111.4% Covered payroll* N/A N/A N/A Net pension liability as a percentage of covered payroll* N/A N/A N/A *The Association is comprised of volunteers, therefore, there are no payroll expenditures (i.e., there are no covered payroll percentage calculations) Note 1: The city implemented GASB Statement No. 68 in fiscal 2015 using a December 31, 2015 measurement date. This schedule is intended to present 10-year trend information. Additional years will be added as they become available. Note 2: Changes in Actuarial Assumptions. (1) 2016 Changes - The benefit level was increased from $3,300 to $3,600 per year of service. (2) 2017 Changes - The annual turnover rate was changed from 10 percent to 1 percent. The discount rate was increased from 4.19% to 4.42%, which is primarily due to a reduction in the portfolio's average expense load. The benefit level was increased from $3,600 to $3,900 per year of service. 59 CITY OF MONTICELLO Required Supplementary Information Schedule of Employer's Pension Contributions - Monticello Fire Department Relief Association Last Ten Fiscal Years Statutorily Required Contributions (a) Actual Contributions Paid (b) Contribution Deficiency (Excess) (a-b) -$ -$ -$ 108,186$ - - - 120,027 - - - 123,656 - - - 125,764 Note 1: The Monticello Volunteer Firemen's Relief Association is comprised of volunteers; therefore there are no payroll expenditures (i.e. there are no covered payroll percentage calculations). Note 2: The city implemented GASB Statement No. 68 in fiscal 2015 using a December 31, 2015 measurement date. This schedule is intended to present 10-year trend information. Additional years will be added as they become available. 2016 2017 City Contributions Non-Employer Contribution - State 2% Fire Aid City Fiscal Year Ending December 31, 2014 2015 60 CITY OF MONTICELLO Required Supplementary Information Schedule of Funding Progress Unfunded Unfunded Actuarial Actuarial Actuarial Actuarial Liability as a Valuation Date Accrued Value of Accrued Funded Covered Percentage January 1,Liability Plan Assets Liability Ratio Payroll of Payroll 2011 362,290$ -$ 362,290$ - % 3,108,685$ 11.65% 2014 265,486 - 265,486 - 3,914,601 6.78 2017 262,709 - 262,709 - 3,039,445 8.64 City of Monticello Other Post-Employment Benefits Plan 61                                                                                                                                                                                                                                                                                                                 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - Community Center Fund For the Year Ended December 31, 2017 226 Original and Final Variance with Budget Actual Final Budget Revenues Property taxes 372,000$ 372,000$ -$ Charges for services 1,470,400 1,367,714 (102,686) Investment earnings 2,000 9,965 7,965 Other revenues 22,000 36,800 14,800 Total revenues 1,866,400 1,786,479 (79,921) Expenditures Current Recreation and culture Operations 466,727 435,760 (30,967) Rentals 10,870 12,789 1,919 Aquatics 182,129 214,289 32,160 Concessions & guest services 175,203 175,731 528 Maintenance 751,147 724,462 (26,685) Programming 233,324 233,370 46 Capital outlay Recreation and culture Operations 47,000 35,826 (11,174) Aquatics - 103,590 103,590 Programming - 31,978 31,978 Total expenditures 1,866,400 1,967,795 101,395 Net change in fund balance - (181,316) (181,316) Fund balance at beginning of year 761,829 761,829 - Fund balance at end of year 761,829$ 580,513$ (181,316)$ 64 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - Economic Development Authority Fund For the Year Ended December 31, 2017 213 Original and Final Variance with Budget Actual Final Budget Revenues Property taxes 280,000$ 280,592$ 592$ Tax increments 653,564 648,031 (5,533) Investment earnings 50,900 70,012 19,112 Other revenues 1,100 13,846 12,746 Total revenues 985,564 1,012,481 26,917 Expenditures Current Economic development General operations 298,000 224,536 (73,464) Developmental activities 242,615 262,170 19,555 Total expenditures 540,615 486,706 (53,909) Excess (deficiency) of revenues over expenditures 444,949 525,775 80,826 Other financing uses Transfers out (200,000) (200,000) - Net change in fund balance 244,949 325,775 80,826 Fund balance at beginning of year 7,142,330 7,142,330 - Fund balance at end of year 7,387,279$ 7,468,105$ 80,826$ 65 Notes to the Required Supplementary Information December 31, 2017 CITY OF MONTICELLO Budgetary Information Budgetary basis of accounting The city follows these procedures in establishing the budgetary data reflected in the basic financial statements: A. Prior to September 1, the city administrator submits to the city council a proposed operating budget for the fiscal year commencing the following January 1. The operating budget includes proposed expenditures and the means of financing them. The city council adopts the proposed budget as amended and adjusted by the city council and certifies the proposed property tax levy to the county auditor according to Minnesota Statutes. B. Public hearings are conducted at the city council’s chambers in the Monticello Community Center. C. On or before December 28, the final budget is legally enacted by city council resolution and the final property tax levy is certified to the county auditor. D. Management is authorized to transfer budgeted amounts between departments within a fund; however, any revisions that alter the total expenditures of any fund must be approved by the city council. E. The city has legally adopted budgets for the General Fund and all special revenue funds. Expenditures may not legally exceed budgeted appropriations at the total fund level. Monitoring of budgets is maintained at the department level. All amounts over budget have been approved by the city council through the disbursement process. The city is not legally required to adopt an annual budget for the nonmajor special revenue funds, the Debt Service Fund, and the Capital Projects Funds. Project- length financial plans are adopted for the Debt Service and Capital Projects Funds. F. Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of America. Budgeted amounts are as originally adopted or amended by the city council. All annual appropriations lapse at year-end. Excess of expenditures over appropriations For the year ended December 31, 2017, expenditures exceeded appropriations in the Community Center special revenue fund by $101,395. The excess of expenditures resulted from capital outlay purchases that were not included in the budget. Fund balance reserves were used to fund the expenditures. 66  NONMAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS are used to account for revenue derived from specific taxes or other earmarked revenue sources (other than for major capital projects) that are restricted by law or administrative action to expenditures for specified purposes. Minnesota Investment Fund - Established to account for the administration of loans to local businesses while following state and federal guidelines. Cemetery Fund – Established to account for the activities of cemetery operations. The city maintains two cemeteries: Riverside and Hillside. CDBG Revitalization Fund – Established to account for funding and activities for the CDBG Revitalization Grant. CAPITAL PROJECTS FUNDS are used to account for resources used for the acquisition and construction of capital assets by the city, except for those financed by proprietary funds. Storm Sewer Access Fund – This fund was established to account for fees collected from building permits for new construction and lot development. The fees will finance major improvements to the city’s storm sewer system. City Street Reconstruction Fund – This fund was established to account for annual improvements to the city’s infrastructure based on a reconstruction schedule. Street Lighting Improvement Fund – This fund was established to account for activities incorporating street lighting into designated areas throughout the city. A portion of the city’s electric franchise fee is the main revenue source for this fund. Park and Pathway Dedication Fund – This fund was established to account for restricted fees collected from developers for park land acquisition and for park and pathway improvements. The fund also accumulates resources from other sources used for the same purposes. CITY OF MONTICELLO Combining Balance Sheet Nonmajor Governmental Funds 220 651 214 263 212 245 229 221 City Street Street Park & Minnesota CDBG -Storm Sewer Recon-Lighting Pathway Investment Cemetery Revitalization Access struction Improvement Dedication Total ASSETS Cash and investments 1,153,959$50,156$369$1,242,316$1,736,687$752,745$508,102$5,444,334$ Receivables Accounts -635 -----635 Due from other governmental units -----90,226 -90,226 Prepaid items -1,158 -----1,158 Notes receivable --116,779 ----116,779 Total assets 1,153,959$51,949$117,148$1,242,316$1,736,687$842,971$508,102$5,653,132$ LIABILITIES Accounts and contracts payable -$1,000$-$428$-$-$-$1,428$ Due to other governmental units -2 -----2 Total liabilities -1,002 -428 ---1,430 DEFERRED INFLOWS OF RESOURCES Unavailable revenue - notes receivable --116,779 ----116,779 FUND BALANCES Nonspendable -1,158 -----1,158 Restricted for economic development 1,153,959 -369 ----1,154,328 Restricted for perpetual cemetery care -36,350 -----36,350 Assigned for capital improvements ---1,241,888 1,736,687 842,971 508,102 4,329,648 Assigned for cemetery operations -13,439 -----13,439 Total fund balances 1,153,959 50,947 369 1,241,888 1,736,687 842,971 508,102 5,534,923 Total liabilities, deferred inflows of resources, and fund balances 1,153,959$51,949$117,148$1,242,316$1,736,687$842,971$508,102$5,653,132$ Special Revenue Funds Capital Project Funds December 31, 2017 67 CITY OF MONTICELLO Combining Statement of Revenues, Expenditures and Changes in Fund Balance Nonmajor Governmental Funds For the Year Ended December 31, 2017 220 651 214 263 212 245 229 221 City Street Street Park & Minnesota CDBG -Storm Sewer Recon-Lighting Pathway Investment Cemetery Revitalization Access struction Improvement Dedication Total Revenues: Franchise taxes -$ -$ -$ -$ -$ 109,191$ -$ 109,191$ Charges for services - 36,907 - 107,166 - - - 144,073 Investment earnings 15,795 653 6 17,542 23,867 10,862 7,716 76,441 Other revenues - - - - - 3,600 10,206 13,806 Total revenues 15,795 37,560 6 124,708 23,867 123,653 17,922 343,511 Expenditures: Current Public works - - - 11,840 - - - 11,840 Recreation and culture - 18,341 - - - - 1,192 19,533 Capital outlay Recreation and culture - - - - - - 209,489 209,489 Total expenditures - 18,341 - 11,840 - - 210,681 240,862 Excess (deficiency) of revenues over expenditures 15,795 19,219 6 112,868 23,867 123,653 (192,759) 102,649 Other financing sources (uses) Transfers in - - - - - - 80,000 80,000 Transfers out - - - (268,376) (45,693) - - (314,069) Total other financing sources (uses)- - - (268,376) (45,693) - 80,000 (234,069) Net change in fund balance 15,795 19,219 6 (155,508) (21,826) 123,653 (112,759) (131,420) Fund balance at begining of year 1,138,164 31,728 363 1,397,396 1,758,513 719,318 620,861 5,666,343 Fund balance at end of year 1,153,959$ 50,947$ 369$ 1,241,888$ 1,736,687$ 842,971$ 508,102$ 5,534,923$ Special Revenue Funds Capital Project Funds 68  INTERNAL SERVICE FUNDS INTERNAL SERVICE FUNDS are used to account for the financing of centralized services to city departments on a cost-reimbursement basis (including depreciation). Benefit Accrual Fund – This fund was established to account for resources accumulated to satisfy paid-time-off (PTO) and sick leave liabilities of governmental employees. Central Equipment Fund – This fund was established to account for equipment purchase and rental to various governmental fund departments. Information Technology (IT) Services Fund – This fund was established to account for the accumulation and distribution of various IT related costs, including communications, software support, capital and non-capital equipment, and software purchases. CITY OF MONTICELLO Combining Statement of Net Position Internal Service Funds December 31, 2017 704 703 702 Benefit Central IT Accrual Equipment Services Total ASSETS Current assets Cash and investments 257,639$ 394,419$ 293,401$ 945,459$ Accounts receivable - - 30 30 Total current assets 257,639 394,419 293,431 945,489 Noncurrent assets Capital assets Machinery and equipment - 1,467,515 46,190 1,513,705 Less accumulated depreciation - (303,756) (17,500) (321,256) Total noncurrent assets - 1,163,759 28,690 1,192,449 TOTAL ASSETS 257,639 1,558,178 322,121 2,137,938 LIABILITIES Current liabilities Accounts payable - - 16,615 16,615 Accrued interest payable - 716 - 716 Bonds payable due within one year - 120,000 - 120,000 Compensated absences due within one year 131,670 - - 131,670 Total current liabilities 131,670 120,716 16,615 269,001 Noncurrent liabilities Bonds payable, net current portion - 485,000 - 485,000 Compensated absences payable 117,707 - - 117,707 Total noncurrent liabilities 117,707 485,000 - 602,707 TOTAL LIABILITIES 249,377 605,716 16,615 871,708 NET POSITION Net investment in capital assets - 558,759 28,690 587,449 Unrestricted 8,262 393,703 276,816 678,781 TOTAL NET POSITION 8,262$ 952,462$ 305,506$ 1,266,230$ 69 CITY OF MONTICELLO Combining Statement of Revenues, Expenses and Changes in Net Position Internal Service Funds For the Year Ended December 31, 2017 704 703 702 Benefit Central IT Accrual Equipment Services Total Operating revenues Charges to other funds (10,285)$ 210,700$ 271,612$ 472,027$ Other revenues - - 150 150 Total operating revenues (10,285) 210,700 271,762 472,177 Operating expenses Personal services (10,285) - - (10,285) Materials and supplies - - 29,330 29,330 Other services and charges - - 152,952 152,952 Depreciation - 128,515 5,661 134,176 Total operating expenses (10,285) 128,515 187,943 306,173 Operating income - 82,185 83,819 166,004 Nonoperating revenues (expenses) Investment earnings 3,705 7,099 3,517 14,321 Interest expense - (14,947) - (14,947) Total nonoperating revenues (expenses)3,705 (7,848) 3,517 (626) Income before capital contributions 3,705 74,337 87,336 165,378 Capital contributions from governmental activities - 53,977 - 53,977 Change in net position 3,705 128,314 87,336 219,355 Net position at beginning of year 4,557 824,148 218,170 1,046,875 Net position at end of year 8,262$ 952,462$ 305,506$ 1,266,230$ 70 CITY OF MONTICELLO Combining Statement of Cash Flows Internal Service Funds For the Year Ended December 31, 2017 704 703 702 Benefit Central IT Accrual Equipment Services Total Cash flow from operating activities Cash received from internal services provided (10,285)$ 210,700$ 271,732$ 472,147$ Cash paid to suppliers for goods and services - - (166,376) (166,376) Net cash provided by operating activities (10,285) 210,700 105,356 305,771 Cash flows from capital and related financing activities Acquisition of capital assets - (452,683) (29,177) (481,860) Principal payments on long-term debt - (120,000) - (120,000) Interest and fiscal charges paid on long-term debt - (15,050) - (15,050) Net cash (used) by capital and related financing activities - (587,733) (29,177) (616,910) Cash flows from investing activities Interest on investments 3,705 7,099 3,517 14,321 Increase (decrease) in cash and cash equivalents (6,580) (369,934) 79,696 (296,818) Cash and cash equivalents - January 1 264,219 764,353 213,705 1,242,277 Cash and cash equivalents - December 31 257,639$ 394,419$ 293,401$ 945,459$ Reconciliation of operating income (loss) to net cash provided by operating activities: Operating income (loss)-$ 82,185$ 83,819$ 166,004$ Adjustments to Reconcile Operating Income (Loss) to Net Cash Provided by Operating Activities: Depreciation - 128,515 5,661 134,176 Changes in assets and liabilities: (Increase) decrease in accounts receivable - - (30) (30) Increase (decrease) in accounts and contracts payable - - 15,906 15,906 Increase (decrease) in compensated absences (10,285) - - (10,285) Net cash provided by operating activities (10,285)$ 210,700$ 105,356$ 305,771$ Schedule of noncash capital and related financing activities: Contributions of capital assets from governmental activities -$ 53,977$ -$ 53,977$ 71       CITY OF MONTICELLO Schedule of Revenues (Sources) and Expenditures (Uses) General Fund For the Year Ended December 31, 2017 2017 Variance with 2013 2014 2015 2016 Final 2017 Final Actual Actual Actual Actual Budget Actual Budget Revenue and other sources - summary: Property taxes 5,605,101$ 5,527,958$ 5,906,255$ 6,204,429$ 6,310,500$ 6,384,444$ 73,944$ Franchise taxes 217,000 216,500 216,500 263,900 264,400 250,000 (14,400) Special assessments 22,351 22,808 1,330 242 300 2,290 1,990 Licenses and permits 331,136 378,810 461,049 668,602 379,400 600,933 221,533 Intergovernmental 372,632 320,691 354,679 389,005 305,740 429,697 123,957 Charges for services 281,138 319,477 349,601 351,702 321,170 397,570 76,400 Fines and forfeitures 41,124 1,900 42,474 30,656 42,300 36,702 (5,598) Investment earnings (52,134) 150,754 64,037 99,237 80,000 120,631 40,631 Other 169,997 180,104 241,721 263,783 98,190 271,078 172,888 Sales of capital assets - - 30,473 11,180 - 1,725 1,725 Total Revenues & Other Sources 6,988,345 7,119,002 7,668,119 8,282,736 7,802,000 8,495,070 693,070 Revenue and other sources - detail: Taxes Property tax - current 5,505,158 5,483,145 5,840,880 6,152,157 6,291,000 6,277,737 (13,263) Property tax - delinquent 75,279 24,140 46,786 31,704 - 71,029 71,029 Mobile home tax 13,362 17,575 15,077 16,324 14,500 17,620 3,120 Penalties and interest - taxes 11,302 3,098 3,512 4,244 5,000 18,058 13,058 Franchise taxes Franchise taxes - electric 216,500 216,500 216,500 263,900 263,900 250,000 (13,900) Franchise taxes - other 500 - - - 500 - (500) Special assessments Assessment for services/projects 22,351 22,808 1,330 242 300 2,290 1,990 Licenses & Permits Liquor license 50,320 44,612 45,640 45,895 48,000 46,205 (1,795) Beer license 912 964 1,013 1,013 900 1,151 251 Other business licenses & permits 3,476 3,707 2,545 5,295 3,500 6,387 2,887 Building permits 260,981 315,466 395,024 598,983 315,000 520,692 205,692 Fire sprinkler permits - - 215 - - - - Variance/conditional use permits 2,550 2,600 2,100 - 1,100 200 (900) Driveway permits 50 25 75 30 150 360 210 Grading permits - - - - 200 - (200) Mobile home permits 475 95 325 180 200 868 668 Excavation permits 3,050 3,850 6,125 7,125 3,000 6,405 3,405 Right-of-way permits 3,092 3,158 2,677 3,144 2,500 4,610 2,110 Sign/banner permits 5,790 4,025 4,135 5,694 4,500 9,355 4,855 Animal licenses 440 308 1,175 1,243 350 4,700 4,350 (continued) 73 CITY OF MONTICELLO Schedule of Revenues (Sources) and Expenditures (Uses) General Fund For the Year Ended December 31, 2017 (Continued) 2017 Variance with 2013 2014 2015 2016 Final 2017 Final Actual Actual Actual Actual Budget Actual Budget Intergovernmental Revenue Pera increase aid 6,741$ 6,741$ 6,741$ 6,741$ 6,740$ 6,822$ 82$ State highway aid - operating 107,173 111,280 125,258 131,898 107,000 134,955 27,955 Fire department aid - operating 109,594 108,186 120,027 123,656 80,000 133,813 53,813 Police department aid - operating 65,767 63,205 66,814 68,710 63,000 70,959 7,959 County operating grant - street/highway 38,579 - 19,642 55,780 19,000 26,875 7,875 County operating grant - civil defense 11,678 13,157 2,221 2,220 12,000 2,392 (9,608) County operating grant - recycling 33,100 18,122 13,976 - 18,000 53,881 35,881 Charges for Services Zoning/subdivision fees 850 1,200 1,050 - 700 - (700) Sale of maps and publications 15 - - - 25 - (25) Assessment searches 7,125 8,174 11,100 12,760 2,500 10,968 8,468 Blight notice fee 2,200 (1,650) 350 320 - - - Final plat fee 50 250 150 - - - - Planning administration fee 450 550 900 5,950 600 7,585 6,985 NSF fee - 90 30 30 - 60 60 Inspection/construction fees 861 983 826 965 800 1,014 214 Contractor licensing fee 1,300 1,825 1,075 825 100 320 220 Fire protections fees - townships 124,227 124,227 126,439 131,717 126,445 131,774 5,329 Fire emergency response fee 4,250 4,883 11,250 4,900 4,500 23,500 19,000 Fire - other fees 3,091 2,050 2,165 3,814 2,000 5,407 3,407 Blight mowing fees 1,865 (559) 625 450 1,000 - (1,000) Rental housing fees 43,355 55,030 45,210 49,020 45,000 49,600 4,600 Animal control fees 29,539 34,462 36,869 36,089 34,000 45,224 11,224 Miscellaneous pubic works - 8,981 - - - - - Tree and brush removal charge - 2,200 6,755 3,290 2,000 1,513 (487) Recycling bin fee - - 260 - - - - Garbage fee - taxable 44,199 44,992 90,310 89,656 90,000 80,774 (9,226) Garbage miscellaneous fee 786 17,488 - - - - - Garbage surcharge - not taxable 7,887 2,340 240 300 2,500 - (2,500) Field/Tourney fees 3,906 4,019 4,544 5,679 4,000 14,036 10,036 Park rental fees 4,982 5,099 6,305 4,962 5,000 5,355 355 Memorial program revenue - - 1,404 - - - - Developer cost reimbursement 200 2,843 1,744 750 - 19,540 19,540 General charges for services - - - 225 - 900 900 Fines & Forfeitures Court fines 39,399 - 41,761 30,150 42,000 35,607 (6,393) Animal impound fines 225 400 713 506 300 595 295 Liquor license violation 1,500 1,500 - - - 500 500 (continued) 74 CITY OF MONTICELLO Schedule of Revenues (Sources) and Expenditures (Uses) General Fund For the Year Ended December 31, 2017 (Continued) 2017 Variance with 2013 2014 2015 2016 Final 2017 Final Actual Actual Actual Actual Budget Actual Budget Investment Earnings Investment earnings (62,833)$ 145,211$ 64,037$ 99,237$ 80,000$ 120,631$ 40,631$ Interest - loans 10,699 5,543 - - - - - Miscellaneous Revenue City property rental 1,600 1,600 1,600 1,600 1,600 1,600 - Billboard land rental 19,888 20,146 2,150 21,149 21,000 21,187 187 Lease - Prairie Center 38,476 37,511 22,500 24,006 15,000 32,238 17,238 Lease - communication tower - 8,000 22,180 24,905 24,720 26,441 1,721 Contributions 23,250 4,000 5,958 5,315 2,500 3,025 525 Sale of city property 374 1,994 1,831 10,650 500 20,948 20,448 Sale of lock boxes 1,015 855 1,368 1,710 800 855 55 Tree Sales - 5,600 6,026 7,533 - 8,646 8,646 Copies - 21 49 19 70 10 (60) Refunds & reimbursables 44,100 55,030 75,416 88,860 - 49,603 49,603 Assessment fee reimbursement 24,525 24,675 23,026 24,150 - 19,950 19,950 Fire contributions - 11,400 13,268 7,852 - 12,660 12,660 Insurance claims 9,433 - 29,926 - - 46,475 46,475 Other miscellaneous 7,336 9,272 36,423 46,034 32,000 27,440 (4,560) Other Financing Sources Sales of capital assets - - 30,473 11,180 - 1,725 1,725 Total revenues and other sources 6,988,345$ 7,119,002$ 7,668,119$ 8,282,736$ 7,802,000$ 8,495,070$ 693,070$ Expenditures and other uses - summary General government 1,389,599$ 1,438,346$ 1,457,376$ 1,482,666$ 1,621,481$ 1,610,594$ (10,887)$ Public safety 1,844,833 1,845,073 1,972,986 2,036,777 2,154,769 2,178,728 23,959 Public works 1,700,161 1,792,870 1,709,063 1,802,884 2,267,555 1,904,391 (363,164) Sanitation 505,996 517,956 563,477 600,300 616,237 614,328 (1,909) Transit - 10,000 40,000 41,250 5,000 3,191 (1,809) Recreation and culture 853,777 792,678 964,385 1,021,709 1,128,446 1,124,379 (4,067) General unallocated 165,923 12,584 8,082 7,226 8,512 7,086 (1,426) Transfers out and other uses 92,000 293,000 297,012 - - 300,000 300,000 Total expenditures and other uses 6,552,289$ 6,702,507$ 7,012,381$ 6,992,812$ 7,802,000$ 7,742,697$ (59,303)$ Expenditures and other uses - divisions General government Mayor and council 53,696$ 52,181$ 52,572$ 57,507$ 57,350$ 54,123$ (3,227)$ City administration 260,322 273,993 312,491 320,450 326,116 476,807 150,691 City clerk 2,425 41,835 2,979 66,031 115,092 102,422 (12,670) Finance 326,510 385,662 377,867 393,754 445,375 425,247 (20,128) Audit 47,823 53,541 37,798 39,273 42,000 44,745 2,745 City assessing 49,664 49,832 50,466 50,415 52,115 51,972 (143) Legal 46,905 29,303 36,946 29,152 38,000 35,714 (2,286) (continued) 75 CITY OF MONTICELLO Schedule of Revenues (Sources) and Expenditures (Uses) General Fund For the Year Ended December 31, 2017 (Continued) 2017 Variance with 2013 2014 2015 2016 Final 2017 Final Actual Actual Actual Actual Budget Actual Budget General government (continued) Human resources 93,067$ 90,565$ 117,249$ 116,522$ 124,288$ 123,206$ (1,082)$ Planning and zoning 182,753 220,080 244,976 210,173 230,848 216,007 (14,841) Information technology services 95,572 33,759 19,872 692 - - - City hall 215,507 193,186 190,833 189,780 177,456 63,149 (114,307) Prairie center building 15,355 14,409 13,327 8,917 12,841 17,202 4,361 Public safety Law Enforcement 1,190,441 1,098,403 1,174,439 1,212,080 1,263,948 1,257,194 (6,754) Fire and rescue 222,141 306,780 309,970 289,010 355,810 350,891 (4,919) Fire relief 109,594 108,186 120,027 123,656 80,000 125,764 45,764 Building inspections 251,007 266,544 304,858 350,304 384,627 381,260 (3,367) Civil defense 9,707 1,660 1,500 1,234 3,564 1,933 (1,631) Animal control 47,426 49,439 48,754 46,943 51,520 48,166 (3,354) National Guard 14,517 14,061 13,438 13,550 15,300 13,520 (1,780) Public works Public works administration 113,882 122,151 124,504 126,327 147,431 120,785 (26,646) Engineering 224,028 195,841 110,555 111,795 174,900 130,325 (44,575) Public works inspecitons 54,878 36,867 32,084 62,100 108,766 62,882 (45,884) Streets and alleys 689,046 735,629 737,836 806,098 994,001 846,575 (147,426) Ice and snow 210,552 308,387 263,020 264,232 290,156 267,095 (23,061) Shop and garage 186,741 177,644 185,837 171,079 206,353 200,690 (5,663) Stormwater 12,064 16,842 26,712 29,277 72,048 30,743 (41,305) Parking lots 2,965 3,814 2,030 - - - - Street lighting 206,005 195,695 226,485 231,976 273,900 245,296 (28,604) Sanitation Refuse and recycling collection 505,996 517,956 563,477 600,300 616,237 614,328 (1,909) Transit Bus service - 10,000 40,000 41,250 5,000 3,191 (1,809) Recreation and culture Community celebrations 1,186 688 2,199 5,684 2,500 5,036 2,536 Senior center 90,219 97,547 97,115 99,124 102,572 103,161 589 Ice arena 75,000 - - - - - - Park operations 572,985 570,639 706,934 775,738 891,848 871,121 (20,727) Park ballfields 25,517 18,149 16,971 20,538 27,300 21,936 (5,364) Shade tree 53,475 68,891 104,990 75,802 66,226 80,922 14,696 Library 35,395 36,764 36,176 44,823 38,000 42,203 4,203 General unallocated Insurances and other 165,923 12,584 8,082 7,226 8,512 7,086 (1,426) Transfers out and other uses Transfers out 92,000 293,000 297,012 - - 300,000 300,000 Total expenditures & other uses 6,552,289$ 6,702,507$ 7,012,381$ 6,992,812$ 7,802,000$ 7,742,697$ (59,303)$ Revenue and other sources over expenditures and other uses 436,056$ 416,495$ 655,738$ 1,289,924$ -$ 752,373$ 752,373 76 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - Minnesota Investment Fund For the Year Ended December 31, 2017 220 Orginal and Final 221 Variance with Budget Actual Final Budget Revenues Investment earnings 20,000$ 15,795$ (4,205)$ Fund balance at beginning of year 1,138,164 1,138,164 - Fund balance at end of year 1,158,164$ 1,153,959$ (4,205)$ 77 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - Cemetery Fund For the Year Ended December 31, 2017 651 Orginal and Final Variance with Budget Actual Final Budget Revenues Charges for services 26,325$ 36,907$ 10,582$ Investment earnings 1,000 653 (347) Total revenues 27,325 37,560 10,235 Expenditures Current Recreation and culture Cemetery operations 27,325 18,341 (8,984) Net change in fund balance - 19,219 19,219 Fund balance at beginning of year 31,728 31,728 - Fund balance at end of year 31,728$ 50,947$ 19,219$ 78 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Changes in Fund Balance Budget and Actual - CDBG-Revitalization Fund For the Year Ended December 31, 2017 214 Orginal and Final Variance with Budget Actual Final Budget Revenues Investment earnings -$ 6$ 6$ Fund balance at beginning of year 363 363 - Fund balance at end of year 363$ 369$ 6$ 79 CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources and Fund Balances Economic Development Authority December 31, 2017 EDA TIF TIF TIF TIF TIF TIF General GMEF Future 6 (d)19 20 22 24 ASSETS Cash and investments 2,054,319$ 1,130,110$ -$ 712,941$ 217,513$ 101,438$ 652,603$ 120,279$ Receivables Unremitted taxes 1,302 - - - - - - - Delinquent taxes 544 - - - - - - - Intrafund receivable 799,452 - - - - - - - Prepaid items 879 - - - - - - - Notes receivable - 34,632 - - - - - - Land held for resale 2,066,190 - - - - - 163,200 - TOTAL ASSETS 4,922,686$ 1,164,742$ -$ 712,941$ 217,513$ 101,438$ 815,803$ 120,279$ LIABILITIES Accounts and contracts payable 3,123$ -$ -$ -$ -$ -$ -$ -$ Due to other governmental units 27 - - - - - - - Intrafund payable - - 44,497 - - - 386,574 - Unearned revenue - - - - - - 163,200 - Total liabilities 3,150 - 44,497 - - - 549,774 - DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes 544 - - - - - - - FUND BALANCES Nonspendable 879 - - - - - - - Restricted - 1,164,742 - 712,941 217,513 101,438 266,029 120,279 Assigned 4,918,113 - (44,497) - - - - - Total fund balance 4,918,992 1,164,742 (44,497) 712,941 217,513 101,438 266,029 120,279 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 4,922,686$ 1,164,742$ -$ 712,941$ 217,513$ 101,438$ 815,803$ 120,279$ (d) = decertified (continued) 80 CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources and Fund Balances Economic Development Authority December 31, 2017 (Continued) TIF TIF TIF TIF TIF TIF GAAP Total 29 30 34 35 38 (d)39 Reconciliation EDA ASSETS Cash and investments 107,592$ 102,080$ 4,131$ 1,989$ -$ 57$ -$ 5,205,052$ Receivables Unremitted taxes - - - - - - - 1,302 Delinquent taxes - - - - - - - 544 Intrafund receivable - - - - - - (799,452) - Prepaid items - - - - - - - 879 Notes receivable - - - - - - - 34,632 Land held for resale - - - - - - - 2,229,390 TOTAL ASSETS 107,592$ 102,080$ 4,131$ 1,989$ -$ 57$ (799,452)$ 7,471,799$ LIABILITIES Accounts and contracts payable -$ -$ -$ -$ -$ -$ -$ 3,123$ Due to other governmental units - - - - - - - 27 Intrafund payable - 129,334 - - - 239,047 (799,452) - Unearned revenue - - - - - - (163,200) - Total liabilities - 129,334 - - - 239,047 (962,652) 3,150 DEFERRED INFLOWS OF RESOURCES Unavailable revenue - property taxes - - - - - - - 544 FUND BALANCES Nonspendable - - - - - - - 879 Restricted 107,592 (27,254) 4,131 1,989 - (238,990) 163,200 2,593,610 Assigned - - - - - - - 4,873,616 Total fund balance 107,592 (27,254) 4,131 1,989 - (238,990) 163,200 7,468,105 TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES, AND FUND BALANCES 107,592$ 102,080$ 4,131$ 1,989$ -$ 57$ (799,452)$ 7,471,799$ (d) = decertified 81 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority For the Year Ended December 31, 2017 EDA TIF TIF TIF TIF TIF TIF General GMEF Future 6 (d)19 20 22 24 Revenues Property taxes 280,592$ -$ -$ -$ -$ -$ -$ -$ Tax increments - - - - 31,693 18,074 264,228 42,782 Investment earnings 27,396 15,844 - 9,698 2,747 1,659 8,313 1,349 Interest on intrafund loans 18,814 - - - - - - - Other revenues 13,846 - - - - - - - Total revenues 340,648 15,844 - 9,698 34,440 19,733 272,541 44,131 Expenditures: Current Salary and wages 75,683 - - - - - - - Benefits 28,689 - - - - - - - Supplies 79 - - - - - - - Professional services - legal 15,247 - - - - - 57 - Professional services - other 85,781 - - - 459 459 1,449 459 LPV Insurance 1,824 - - - - - - - Legal and general publications 72 - - - 34 34 34 34 Property taxes 2,786 - - - - - - - Marketing 250 - - - - - - - Dues and membership 5,763 - - - - - - - Utilities 821 - - - - - 236 - IT services 3,212 - - - - - - - Travel and conferences 2,033 - - - - - - - Other expenses 111,576 - - - - 52,138 - - Excess increments - - - - - - 134,114 - Interest on intrafund loans - - - - - - - - PAYG payments to third parties - - - - - 6,507 45,503 - Total expenditures 333,816 - - - 493 59,138 181,393 493 Excess (deficiency) of revenues over expenditures 6,832 15,844 - 9,698 33,947 (39,405) 91,148 43,638 Other financing uses Transfers out - - - - - - - - Net change in fund balances 6,832 15,844 - 9,698 33,947 (39,405)91,148 43,638 Fund balance at beginning of year 4,912,160 1,148,898 (44,497) 703,243 183,566 140,843 174,881 76,641 Fund balance at end of year 4,918,992$ 1,164,742$ (44,497)$ 712,941$ 217,513$ 101,438$ 266,029$ 120,279$ (d) = decertified (continued) 82 CITY OF MONTICELLO Schedule of Revenues, Expenditures and Other Financing Sources (Uses) Economic Development Authority For the Year Ended December 31, 2017 (Continued) TIF TIF TIF TIF TIF TIF GAAP Total 29 30 34 35 38 (d)39 Reconciliation EDA Revenues Property taxes -$ -$ -$ -$ -$ -$ -$ 280,592$ Tax increments 24,242 10,032 203,857 - 10,668 42,455 - 648,031 Investment earnings 1,425 1,385 164 28 3 1 - 70,012 Interest on intrafund loans - - - - - - (18,814) - Other revenues - - - - 109,280 - (109,280) 13,846 Total revenues 25,667 11,417 204,021 28 119,951 42,456 (128,094) 1,012,481 Expenditures: Current Salary and wages - - - - - - - 75,683 Benefits - - - - - - - 28,689 Supplies - - - - - - - 79 Professional services - legal - - - 171 - - - 15,475 Professional services - other 459 459 - - - - - 89,525 LPV Insurance - - - - - - - 1,824 Legal and general publications 34 34 34 34 34 - - 378 Property taxes - - - - - - - 2,786 Marketing - - - - - - - 250 Dues and membership - - - - - - - 5,763 Utilities - - - - - - - 1,057 IT services - - - - - - - 3,212 Travel and conferences - - - - - - - 2,033 Other expenses - - - - - - (109,280) 54,434 Excess increments - - - - - - - 134,114 Interest on intrafund loans - 3,375 - - 4,612 10,827 (18,814) - PAYG payments to third parties 19,394 - - - - - - 71,404 Total expenditures 19,887 3,868 34 205 4,646 10,827 (128,094) 486,706 Excess (deficiency) of revenues over expenditures 5,780 7,549 203,987 (177) 115,305 31,629 - 525,775 Other financing uses Transfers out - - (200,000) - - - - (200,000) Net change in fund balances 5,780 7,549 3,987 (177)115,305 31,629 - 325,775 Fund balance at beginning of year 101,812 (34,803) 144 2,166 (115,305) (270,619) 163,200 7,142,330 Fund balance at end of year 107,592$ (27,254)$ 4,131$ 1,989$ -$ (238,990)$ 163,200$ 7,468,105$ (d) = decertified 83 CITY OF MONTICELLO Schedule of Assets, Liabilities, Deferred Inflows of Resources and Fund Balances Debt Service Activities December 31, 2017 313 315 317 312 318 319 320 321 2007A 2008B 2010A 2011A 2014A 2015B 2016A 2017A Improvement Sewer Improvement Refunding Bonds Bonds Bonds Bonds Total ASSETS Cash and cash equivalents -$ -$ 952,931$ 1,261,237$ 63,090$ 80,474$ 334,676$ 107,145$ 2,799,553$ Receivables Unremitted special assessments - - 7,043 - - - 359 - 7,402 Deliquent special assessments - - 320 - - - 176 - 496 Deferred special assessments - - 113,579 2,093,333 - 137,560 712,355 434,759 3,491,586 Total assets -$ -$ 1,073,873$ 3,354,570$ 63,090$ 218,034$ 1,047,566$ 541,904$ 6,299,037$ LIABILITIES Accounts and contracts payable -$ -$ 275$ 275$ 275$ 275$ 275$ 4,600$ 5,975$ DEFERRED INFLOWS OF RESOURCES Unavailable revenue - special assessments - - 113,899 2,093,333 - 137,560 712,531 434,759 3,492,082 FUND BALANCES Restricted for debt service - - 959,699 1,260,962 62,815 80,199 334,760 102,545 2,800,980 Total liabilities, deferred inflows of resources, and fund balances -$ -$ 1,073,873$ 3,354,570$ 63,090$ 218,034$ 1,047,566$ 541,904$ 6,299,037$ General Obligation Bonds 84                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               CITY OF MONTICELLO Net Position by Component Last Ten Fiscal Years (accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Governmental activities Net investment in capital assets 27,584,763$ 33,712,370$ 31,901,676$ 38,242,040$ 40,525,009$ 44,268,757$ 48,253,810$ 38,099,568$ 41,077,683$ 41,535,637$ Restricted 22,074,427 17,688,193 18,337,866 16,894,936 13,061,044 18,118,070 10,453,449 12,633,770 10,569,693 11,599,951 Unrestricted 28,445,230 28,183,161 26,876,421 24,758,269 25,119,107 13,487,299 14,792,521 18,144,067 20,824,170 20,899,110 Total governmental net position 78,104,420$ 79,583,724$ 77,115,963$ 79,895,245$ 78,705,160$ 75,874,126$ 73,499,780$ 68,877,405$ 72,471,546$ 74,034,698$ Business-type activities Net investment in capital assets 31,375,890$ 29,910,696$ 28,556,355$ 25,031,043$ 23,698,091$ 20,496,832$ 42,117,264$ 40,722,087$ 41,014,122$ 39,944,797$ Restricted 19,350 19,350 19,350 19,350 19,350 - - - - - Unrestricted 4,529,830 2,846,018 6,363,148 6,901,353 7,642,046 6,463,638 9,121,952 8,163,982 9,052,590 11,905,058 Total business-type net position 35,925,070$ 32,776,064$ 34,938,853$ 31,951,746$ 31,359,487$ 26,960,470$ 51,239,216$ 48,886,069$ 50,066,712$ 51,849,855$ Primary government Net investment in capital assets 58,960,653$ 63,623,066$ 60,458,031$ 63,273,083$ 64,223,100$ 64,765,589$ 90,371,074$ 78,821,655$ 82,091,805$ 81,480,434$ Restricted 22,093,777 17,707,543 18,357,216 16,914,286 13,080,394 18,118,070 10,453,449 12,633,770 10,569,693 11,599,951 Unrestricted 32,975,060 31,029,179 33,239,569 31,659,622 32,761,153 19,950,937 23,914,473 26,308,049 29,876,760 32,804,168 Total primary government net position 114,029,490$ 112,359,788$ 112,054,816$ 111,846,991$ 110,064,647$ 102,834,596$ 124,738,996$ 117,763,474$ 122,538,258$ 125,884,553$ Note 1: In fiscal years 2013 and 2012, the city had a change in accounting principle, a change in fund structure, and prior period adjustments. In addition, the city implemented GASB Statement No. 68 and GASB Statement No. 71 in fiscal year 2015. Prior years have not been adjusted to reflect these changes. $- $20 $40 $60 $80 $100 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017MillionsPrimary Government Net Position Net investment in capital assets Restricted net position Unrestricted net position 87 CITY OF MONTICELLO Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) Expenses 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Governmental activities General government 1,572,389$ 1,780,972$ 2,065,463$ 2,111,710$ 2,103,737$ 1,623,727$ 1,488,243$ 1,447,725$ 1,694,111$ 1,656,666$ Public safety 1,792,351 2,849,272 1,766,712 1,788,595 1,819,378 1,884,981 1,880,193 1,960,009 2,187,363 2,208,971 Public works 4,634,167 3,827,501 3,579,291 4,838,544 5,045,729 5,163,461 5,223,345 5,312,612 5,480,074 5,292,743 Sanitation 514,208 547,160 534,903 495,693 500,037 487,268 517,956 563,477 600,300 614,328 Transit - - - - - - 10,000 40,000 41,250 3,191 Recreation and culture 2,729,950 2,855,682 2,636,088 1,753,197 2,719,730 2,875,260 2,882,127 3,524,979 3,998,945 3,521,756 Economic development 510,126 842,819 2,647,687 1,199,936 803,594 1,005,813 1,084,620 1,547,875 756,620 488,380 Interest and fiscal charges 2,136,872 1,673,431 1,464,012 1,248,716 1,298,869 235,265 649,854 735,753 565,774 514,558 Total governmental activities expenses 13,890,063 14,376,837 14,694,156 13,436,391 14,291,074 13,275,775 13,736,338 15,132,430 15,324,437 14,300,593 Business-type activities Water utility 975,846 1,018,098 936,718 1,167,572 1,118,789 1,009,600 1,084,882 1,102,610 1,168,473 1,157,506 Sewage utility 2,085,485 2,074,447 2,495,976 2,340,555 2,480,657 2,466,660 2,762,357 2,661,990 2,618,887 2,708,053 Liquor 620,743 669,940 637,574 658,999 662,002 689,559 692,976 798,631 831,809 874,921 Fiber optics 1,590,237 2,792,813 3,815,377 5,702,480 5,228,428 5,240,871 2,919,170 2,536,461 2,483,262 2,252,287 Deputy registrar - - - - - 293,531 300,236 313,968 345,492 390,658 Total business-type activities expenses 5,272,311 6,555,298 7,885,645 9,869,606 9,489,876 9,700,221 7,759,621 7,413,660 7,447,923 7,383,425 Total primary government expenses 19,162,374$ 20,932,135$ 22,579,801$ 23,305,997$ 23,780,950$ 22,975,996$ 21,495,959$ 22,546,090$ 22,772,360$ 21,684,018$ Program Revenues Governmental activities Charges for services General government 523,228$ 443,976$ 491,304$ 521,182$ 619,992$ 147,244$ 180,145$ 214,087$ 274,309$ 239,460$ Public safety 99,812 155,036 96,293 202,237 179,540 163,366 164,616 320,158 894,311 851,307 Public works 1,544,140 744,241 1,556,098 508,077 383,066 544,404 371,671 521,697 527,425 283,241 Sanitation - 167,119 165,387 52,304 53,077 16,653 48,385 104,786 89,956 80,774 Recreation and culture 1,084,622 1,139,199 1,153,113 1,240,970 1,150,273 1,307,149 1,331,581 1,488,197 1,437,659 1,493,651 Economic development 15,875 155,769 - - - - - 14,653 301,232 13,846 Operating grants and contributions 159,192 269,492 424,845 253,127 252,784 293,710 295,828 355,041 389,005 429,697 Capital grants and contributions 948,340 2,067,509 4,124,271 2,083,511 1,841,915 1,079,738 1,774,628 2,667,710 3,297,265 1,996,441 Total governmental activities program revenues 4,375,209 5,142,341 8,011,311 4,861,408 4,480,647 3,552,264 4,166,854 5,686,329 7,211,162 5,388,417 Business-type activities Charges for services Water utility 973,776 1,019,390 828,635 1,078,133 1,304,923 1,214,570 1,117,226 1,126,718 1,172,258 1,415,441 Sewage utility 1,307,064 1,371,776 1,470,537 1,712,058 1,850,919 1,981,491 2,081,660 2,083,122 2,223,252 2,472,774 Liquor 1,059,479 1,043,256 1,174,767 1,151,171 1,214,745 1,318,276 1,289,369 1,524,338 1,409,406 1,525,150 Fiber optics - - 456,820 1,610,258 1,747,587 1,606,720 1,761,978 1,642,403 1,739,566 1,757,134 Deputy registrar - - - - - 456,285 497,798 535,931 562,891 594,777 Capital grants and contributions 106,787 - - - - - 488,628 1,454,980 2,000,456 699,901 Total business-type activities program revenues 3,447,106 3,434,422 3,930,759 5,551,620 6,118,174 6,577,342 7,236,659 8,367,492 9,107,829 8,465,177 Total primary government program revenues 7,822,315$ 8,576,763$ 11,942,070$ 10,413,028$ 10,598,821$ 10,129,606$ 11,403,513$ 14,053,821$ 16,318,991$ 13,853,594$ (continued) 88 CITY OF MONTICELLO Changes in Net Position Last Ten Fiscal Years (accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net (expense)/revenue Governmental activities (9,514,854)$ (9,234,496)$ (6,682,845)$ (8,574,983)$ (9,810,427)$ (9,723,511)$ (9,569,484)$ (9,446,101)$ (8,113,275)$ (8,912,176)$ Business-type activities (1,825,205) (3,120,876) (3,954,886) (4,317,986) (3,371,702) (3,122,879) (522,962) 953,832 1,659,906 1,081,752 Total primary government net expense (11,340,059)$ (12,355,372)$ (10,637,731)$ (12,892,969)$ (13,182,129)$ (12,846,390)$ (10,092,446)$ (8,492,269)$ (6,453,369)$ (7,830,424)$ General Revenues and Other Changes in Net Position Governmental activities Taxes Property taxes 7,278,152$ 7,628,547$ 7,105,319$ 7,406,358$ 7,722,214$ 7,961,229$ 8,393,374$ 8,683,585$ 9,270,592$ 9,560,482$ Tax increment 1,172,447 1,193,021 1,155,386 1,044,791 1,024,134 965,935 826,363 727,617 668,352 648,031 Franchise taxes - 48,517 371,258 341,362 339,518 320,640 357,409 333,484 412,217 436,248 Unrestricted grants and contributions 158,340 406,735 37,665 19,359 38,618 65,228 27,502 - - - Investment earnings 1,461,658 770,178 859,583 1,467,780 767,722 (189,128) 784,347 278,465 375,614 379,107 Other - 41,173 - - 11,575 3,885 217,643 30,473 11,180 - Gain on sale of capital assets 233,326 366,961 442,091 354,501 540,272 489,782 - - - 1,725 Transfers 371,245 251,133 (5,774,257) 713,655 (2,420,489) 278,500 (3,411,500) 2,301,045 969,461 (550,265) Total governmental activities 10,675,168 10,706,265 4,197,045 11,347,806 8,023,564 9,896,071 7,195,138 12,354,669 11,707,416 10,475,328 Business-type activities Investment earnings 547,703 188,178 236,131 495,484 264,589 (117,175) 399,757 108,191 128,080 151,126 Miscellaneous 136,356 42,360 125,326 1,555,509 100,687 65,468 - 88,157 5,218 - Gain on extinguishment of debt - - - - - - 20,990,451 - - - Contribution of land to County - - - - - - - (5,511,547) - - Transfer of operations - - - - - - - - 356,900 - Transfers (371,245) (251,133) 5,774,257 (713,655) 2,420,489 (278,500) 3,411,500 (2,301,045) (969,461) 550,265 Total business-type activities 312,814 (20,595) 6,135,714 1,337,338 2,785,765 (330,207) 24,801,708 (7,616,244) (479,263) 701,391 Total primary government 10,987,982$ 10,685,670$ 10,332,759$ 12,685,144$ 10,809,329$ 9,565,864$ 31,996,846$ 4,738,425$ 11,228,153$ 11,176,719$ Changes in Net Position Governmental activities 1,160,314$ 1,471,769$ (2,485,800)$ 2,772,823$ (1,786,863)$ 172,560$ (2,374,346)$ 2,908,568$ 3,594,141$ 1,563,152$ Business-type activities (1,512,391) (3,141,471) 2,180,828 (2,980,648) (585,937) (3,453,086) 24,278,746 (6,662,412) 1,180,643 1,783,143 Total primary government (352,077)$ (1,669,702)$ (304,972)$ (207,825)$ (2,372,800)$ (3,280,526)$ 21,904,400$ (3,753,844)$ 4,774,784$ 3,346,295$ Note 1: The City made a fund structure change for the period ending December 31, 2013. Prior year data has not been restated as a result of this change. Note 2: The city implemented GASB Statement No. 68 and GASB Statement No. 71 in fiscal year 2015. Years prior to 2015 have not been restated. 89 CITY OF MONTICELLO General Governmental Tax Revenues by Source Last Ten Fiscal Years (accrual basis of accounting) Property Tax Franchise Year Tax Increment Tax Total 2008 7,278,152$ 1,172,447$ -$ 8,450,599$ 2009 7,628,547 1,193,021 48,517 8,870,085 2010 7,105,319 1,155,386 371,258 8,631,963 2011 7,406,358 1,044,791 341,362 8,792,511 2012 7,722,214 1,024,134 339,518 9,085,866 2013 7,961,229 965,935 320,640 9,247,804 2014 8,393,374 826,363 357,409 9,577,146 2015 8,683,585 727,617 333,484 9,744,686 2016 9,270,592 668,352 412,217 10,351,161 2017 9,560,482 648,031 436,248 10,644,761 Change 2008-2017 31.4%-44.7%100.0%26.0% Source: Finance Department $- $2 $4 $6 $8 $10 $12 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017MillionsTax Revenues by Source Property Tax Tax Increment Franchise Tax 90 CITY OF MONTICELLO Fund Balances of Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 General Fund Reserved 359,303$ 392,541$ 336,286$ -$ -$ -$ -$ -$ -$ -$ Unreserved 5,819,249 4,705,092 4,644,748 - - - - - - - Nonspendable - - - 386,616 342,380 258,100 126,327 113,302 134,245 110,869 Restricted - - - - - - - - - - Committed - - - 3,374,200 - - - - - - Assigned - - - - - - - - - - Unassigned - - - 649,821 3,136,127 3,656,463 4,204,731 4,873,494 6,142,475 6,918,224 Total general fund 6,178,552$ 5,097,633$ 4,981,034$ 4,410,637$ 3,478,507$ 3,914,563$ 4,331,058$ 4,986,796$ 6,276,720$ 7,029,093$ All other governmental funds Reserved 16,663,801$ 10,280,326$ 7,884,431$ -$ -$ -$ -$ -$ -$ -$ Unreserved Special revenue 14,191,473 18,451,828 18,324,689 - - - - - - - Capital projects (1,839,478) (2,124,391) (1,532,220) - - - - - - - Nonspendable - - - 1,299,057 197,123 1,822,926 1,815,087 4,259,743 3,690,330 23,488 Restricted - - - 22,140,662 21,480,938 10,928,985 10,453,449 8,619,905 6,987,234 7,924,461 Committed - - - 2,662,124 - - - - - - Assigned - - - 9,138,626 8,655,488 6,485,727 7,321,744 11,109,806 13,320,718 16,910,080 Unassigned Special revenue - - - (141,890) - - - - - - Capital projects - - - (1,435,666) - - - - - - Total all other governmental funds 29,015,796$ 26,607,763$ 24,676,900$ 33,662,913$ 30,333,549$ 19,237,638$ 19,590,280$ 23,989,454$ 23,998,282$ 24,858,029$ Note 1: The City made a fund structure change for the period ending December 31, 2013. Prior year data has not been restated as a result of this change. Note 2: The city implemented GASB 54 for the financial reporting period ending December 31, 2011. Prior years have not been restated as a result of this change. 91 CITY OF MONTICELLO Changes in Fund Balances of Governmental Funds Last Ten Fiscal Years (modified accrual basis of accounting) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Revenues Property taxes 7,233,582$ 7,502,844$ 7,319,154$ 7,294,635$ 8,234,086$ 7,985,695$ 8,407,627$ 8,638,401$ 9,295,983$ 9,593,445$ Tax increments 1,172,447 1,193,021 1,155,386 1,044,791 1,024,134 965,935 826,363 727,617 668,352 648,031 Franchise taxes - 48,517 371,258 341,362 339,518 320,640 357,409 333,484 412,217 436,248 Special assessments 2,566,932 2,462,673 1,465,264 1,856,134 1,902,871 2,065,944 1,912,932 3,318,901 984,390 946,669 Licenses and permits 917,539 266,797 217,184 249,999 275,699 331,711 378,810 461,049 668,602 600,933 Intergovernmental 550,283 1,688,895 1,620,771 1,434,420 540,475 1,264,781 732,366 1,520,239 2,041,362 1,340,094 Charges for services 2,290,091 2,518,548 2,890,006 2,239,584 2,076,834 1,846,919 1,722,974 2,063,520 2,222,475 1,909,357 Fines and forfeitures 2,216 1,220 205 85 14,338 1,725 1,900 42,474 30,656 36,702 Investment earnings 1,461,658 770,178 859,583 1,467,780 767,722 (183,242) 738,956 261,856 357,112 364,786 Other revenues 197,988 435,186 643,873 603,019 753,832 700,776 413,113 475,170 589,394 335,530 Total revenues 16,392,736 16,887,879 16,542,684 16,531,809 15,929,509 15,300,884 15,492,450 17,842,711 17,270,543 16,211,795 Expenditures General government 1,579,164 1,634,395 1,997,458 2,039,270 2,023,674 1,576,653 1,450,930 1,465,458 1,489,892 1,617,680 Public safety 1,736,962 2,738,768 1,684,296 1,728,409 1,735,579 1,805,434 1,845,073 1,972,986 2,036,777 2,178,728 Public works 2,380,993 2,074,811 1,562,155 1,675,222 1,703,849 1,707,576 1,793,162 1,734,562 1,941,750 2,009,481 Sanitation 514,208 547,160 534,903 495,693 500,037 505,996 517,956 563,477 600,300 614,328 Transit - - - - - - 10,000 40,000 41,250 3,191 Culture and recreation 2,220,368 2,355,669 2,164,534 2,419,369 2,272,595 2,472,987 2,386,832 2,622,991 2,756,372 2,940,313 Economic development 525,783 842,819 2,647,687 1,198,449 800,540 1,011,961 1,084,620 1,237,107 530,746 486,706 Capital outlay 3,522,196 1,946,153 4,138,459 4,067,251 2,829,049 1,357,254 2,220,883 2,238,365 6,235,029 5,430,272 Debt service Principal 5,037,028 6,749,293 5,001,000 4,860,000 5,174,500 5,290,750 5,411,000 5,028,000 5,681,653 3,921,000 Interest and fiscal charges 2,192,063 1,801,392 1,553,661 1,383,095 1,290,430 930,982 658,983 570,753 529,116 470,508 Bond issuance costs - - - - - - - 71,358 107,050 93,300 Total expenditures 19,708,765 20,690,460 21,284,153 19,866,758 18,330,253 16,659,593 17,379,439 17,545,057 21,949,935 19,765,507 Excess of revenues over (under) expenditures (3,316,029) (3,802,581) (4,741,469) (3,334,949) (2,400,744) (1,358,709) (1,886,989) 297,654 (4,679,392) (3,553,712) Other financing sources (uses) Long-term debt issued 15,450,000 - 3,255,000 10,735,000 - - 6,080,000 2,605,000 4,900,000 5,000,000 Premium (discount) on debt issued - - (19,530) 301,910 - - (12,374) 46,898 97,503 78,814 Refunded bonds redeemed (15,908,564) - (865,000) - - (10,690,000) - - - - Refunding deferred amortized (loss)(384,432) - - - - - - - - - Sale of land held for resale 74,650 - - - - - - - - - Sale of capital assets 2,575 62,496 67,569 - 11,575 12,428 - 30,473 11,180 1,725 Transfers in 16,818,090 10,172,878 4,687,126 5,710,819 9,990,120 6,906,770 4,914,385 4,261,817 2,192,636 1,029,628 Transfers out (16,446,845) (9,921,745) (4,431,158) (4,997,164) (10,732,901) (7,158,933) (8,325,885) (2,186,930) (1,223,175) (944,335) Total other financing sources (uses)(394,526) 313,629 2,694,007 11,750,565 (731,206) (10,929,735) 2,656,126 4,757,258 5,978,144 5,165,832 Net change in fund balances (3,710,555)$ (3,488,952)$ (2,047,462)$ 8,415,616$ (3,131,950)$ (12,288,444)$ 769,137$ 5,054,912$ 1,298,752$ 1,612,120$ Debt service as percentage of noncapital expenditures 43.7% 45.6% 38.2% 42.6% 41.4% 41.7% 40.0% 35.1% 38.0% 30.4% Note: The city made a fund structure change for the period ending December 31, 2013. Prior year data has not been modified to reflect this change. 92 CITY OF MONTICELLO Governmental Funds Tax Revenues by Source Last Ten Fiscal Years (modified accrual basis of accounting) Property Tax Franchise Year Tax Increment Tax Total 2008 7,233,582$ 1,172,447$ -$ 8,406,029$ 2009 7,502,844 1,193,021 48,517 8,744,382 2010 7,319,154 1,155,386 371,258 8,845,798 2011 7,294,635 1,044,791 341,362 8,680,788 2012 8,234,086 1,024,134 339,518 9,597,738 2013 7,985,695 965,935 320,640 9,272,270 2014 8,407,627 826,363 357,409 9,591,399 2015 8,638,401 727,617 333,484 9,699,502 2016 9,295,983 668,352 412,217 10,376,552 2017 9,593,445 648,031 436,248 10,677,724 Change 2008-2017 32.6%-44.7%100.0%27.0% Source: Finance Department $- $2 $4 $6 $8 $10 $12 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017MillionsTax Revenues by Source Property Tax Tax Increment Franchise Tax 93 CITY OF MONTICELLO Tax Capacity Value and Estimated Market Value of Taxable Property Last Ten Fiscal Years Total Net Tax Taxable Net Capacity as a Residential % of Commercial % of Personal % of Ag/Misc % of Tax Capacity % of Total Direct Total Percentage of Year Property Total Property Total Property Total Property Total Value Total Tax Rate Market Value Market Value 2008 7,443,331$ 43.0% 9,455,666$ 54.6% 176,289$ 1.0% 236,789$ 1.4% 17,312,075$ 100.0% 46.942 1,282,400,700$ 1.3% 2009 7,506,973 41.8% 9,966,873 55.5% 174,223 1.0% 299,191 1.7% 17,947,260 100.0% 46.191 1,245,407,600 1.4% 2010 6,165,704 35.4% 10,793,836 62.0% 189,563 1.1% 251,177 1.4% 17,400,280 100.0% 45.822 1,188,222,100 1.5% 2011 5,307,260 31.9% 10,897,898 65.5% 194,825 1.2% 229,016 1.4% 16,628,999 100.0% 46.729 1,106,541,400 1.5% 2012 4,611,403 23.6% 14,538,165 74.3% 235,633 1.2% 194,492 1.0% 19,579,693 100.0% 49.773 1,219,719,700 1.6% 2013 4,824,117 25.4% 13,793,916 72.5% 239,129 1.3% 164,609 0.9% 19,021,771 100.0% 42.234 1,201,075,800 1.6% 2014 5,408,138 21.9% 18,818,097 76.4% 235,713 1.0% 184,750 0.7% 24,646,698 100.0% 44.709 1,513,570,400 1.6% 2015 5,861,759 22.1% 20,316,219 76.4% 238,732 0.9% 164,516 0.6% 26,581,226 100.0% 35.737 1,712,125,200 1.6% 2016 6,505,649 23.0% 21,386,874 75.6% 248,668 0.9% 166,437 0.6% 28,307,628 100.0% 34.471 1,828,437,600 1.5% 2017 7,325,880 24.2% 22,510,588 74.4% 272,344 0.9% 141,596 0.5% 30,250,408 100.0% 33.172 1,962,020,100 1.5% Note 1: The fiscal year is for the values in the year levied for taxes collectible in the following year. Note 2: Tax exempt property values are not included in total taxable net tax capacity value. Source: Wright County Certificate of Taxes and Taxable Properties. Real Property $- $5 $10 $15 $20 $25 $30 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017MillionsTotal Taxable Net Tax Capacity Value (Excludes Personal and Ag/Misc Property) Residential Commercial 94 CITY OF MONTICELLO Property Tax Rates - All Direct and Overlapping Governments Last Ten Fiscal Years Monticello Total (1) City Wright School Special Direct and Year of Monticello County District #882 Districts Overlapping 2008 46.94 31.65 25.25 2.52 106.36 2009 46.19 32.57 26.08 2.07 106.91 2010 45.82 35.82 24.95 1.75 108.34 2011 46.73 39.31 27.03 1.50 114.57 2012 49.77 43.45 28.26 1.24 122.72 2013 42.23 44.29 26.23 0.61 113.36 2014 44.71 43.45 28.27 -116.43 2015 35.74 40.59 22.88 -99.21 2016 34.47 39.97 20.86 1.08 96.38 2017 33.17 39.60 16.24 1.02 90.03 Note 1: Source:Wright County Overlapping Taxing Districts Information reflects total tax rates levied by each entity. Tax rates are expressed in terms of “net tax capacity.” A property’s tax capacity is determined by multiplying its taxable market value by a state determined class rate. Class rates vary by property type and change periodically based on state legislation. Components of the direct rate are not readily available. 0 20 40 60 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017Rate %Property Tax Rates For the three highest taxing authorities Wright District #882 City 95 CITY OF MONTICELLO Property Tax Levies and Collections Last Ten Fiscal Years PROPERTY TAXES Total Tax Collections in Abatements Fiscal Levy for Tax Net % of Subsequent % of and % of Year Fiscal Year Credits Levy Amount Net Levy Years Amount Net Levy Adjustments Amount Net Levy 2008 7,600,189$ 267,056$ 7,333,133$ 7,118,136$ 97.1% 175,813$ 7,293,949$ 99.5% (39,184)$ -$ 0.0% 2009 7,750,119 263,587 7,486,532 7,237,730 96.7% 215,996 7,453,726 99.6% (32,806) - 0.0% 2010 7,648,269 278,930 7,369,339 7,155,141 97.1% 187,503 7,342,644 99.6% (26,695) - 0.0% 2011 7,677,351 293,075 7,384,276 7,178,807 97.2% 185,763 7,364,570 99.7% (19,706) - 0.0% 2012 7,850,042 - 7,850,042 7,759,174 98.8% 31,514 7,790,688 99.2% (57,415) 1,939 0.0% 2013 7,900,724 - 7,900,724 7,827,356 99.1% 38,287 7,865,643 99.6% (33,113) 1,968 0.0% 2014 8,151,086 - 8,151,086 8,109,373 99.5% 31,526 8,140,899 99.9% (7,012) 3,175 0.0% 2015 8,535,565 - 8,535,565 8,498,745 99.6% 20,067 8,518,812 99.8% (12,524) 4,229 0.0% 2016 9,205,700 - 9,205,700 9,177,787 99.7% 19,516 9,197,303 99.9% (3,572) 4,825 0.1% 2017 9,430,000 - 9,430,000 9,416,303 99.9% - 9,416,303 99.9% (323) 13,374 0.1% TAX INCREMENTS Total Tax Collections in Abatements Fiscal Levy for Tax Net % of Subsequent % of and % of Year Fiscal Year Credits Levy Amount Net Levy Years Amount Net Levy Adjustments Amount Net Levy 2008 1,191,177$ -$ 1,191,177$ 1,184,402$ 99.4% 4,874$ 1,189,276$ 99.8%(1,901)$ -$ 0.0% 2009 1,247,605 - 1,247,605 1,205,582 96.6% 39,200 1,244,782 99.8%(2,823) - 0.0% 2010 1,193,383 - 1,193,383 1,144,243 95.9% 36,309 1,180,552 98.9%(12,831) - 0.0% 2011 1,071,686 - 1,071,686 1,044,309 97.4% 25,742 1,070,051 99.8%(1,635) - 0.0% 2012 955,039 - 955,039 953,400 99.8% - 953,400 99.8%(1,639) - 0.0% 2013 971,745 - 971,745 970,071 99.8% - 970,071 99.8%(1,674) - 0.0% 2014 869,425 - 869,425 869,339 100.0% 60 869,399 100.0%(26) - 0.0% 2015 729,130 - 729,130 727,558 99.8% - 727,558 99.8%(1,572) - 0.0% 2016 668,351 - 668,351 668,351 100.0% - 668,351 100.0%- - 0.0% 2017 650,375 - 650,375 648,033 99.6% - 648,033 99.6%(2,342) - 0.0% Source: Wright County Year of the Net Levy to Date Total Uncollected Collected within the Total Collections Year of the Net Levy to Date Total Uncollected Collected within the Total Collections 96 CITY OF MONTICELLO Principal Property Taxpayers Current Year and Nine Years Ago Percentage of Percentage of (1)Taxable Net Tax Total Net Tax Taxable Net Tax Total Net Tax Taxpayer Market Value Capacity Value Rank Capacity Value Market Value Capacity Value Rank Capacity Value Xcel Energy (Northern States)848,843,600$ 16,970,092$ 1 59.9%251,650,100$ 5,025,557$ 1 29.0% Walmart Real Estate Bus Trust 10,385,000 206,950 2 0.7%12,869,100 253,830 3 1.5% Target Corporation 10,050,000 200,250 3 0.7%13,161,600 262,482 2 1.5% CentraCare Medical Center (New River)7,344,000 146,880 4 0.5% Home Depot USA, Inc.6,610,000 131,450 5 0.5%8,263,000 164,510 4 1.0% Spirit Master Funding (Muller Theatres)5,182,600 102,521 6 0.4%7,844,000 155,602 5 0.9% AX TC Retail, LP 5,156,300 101,626 7 0.4% Minnegasco Inc.3,914,700 78,294 8 0.3% Tapper’s Holdings, LLC 3,956,800 77,636 9 0.3%5,286,900 104,238 10 0.6% WSI Industries Inc.3,900,100 77,252 10 0.3% Ryan Companies 15,438,200 133,904 6 0.8% Jacob Holdings of Sandberg Road 7,142,000 154,170 7 0.9% L&P Ventures, LLC 5,291,000 143,022 8 0.8% Jacob Holdings of Monticello, LLC 5,096,200 148,476 9 0.9% 905,343,100$ 18,092,951$ 63.9%332,042,100$ 6,545,791$ 37.8% (1) The market value and taxable net tax capacity value is for taxes levied in 2016, which are payable in 2017. (2) The 2008 principal taxpayers are not available. Values are as of 2009. Source: Wright County Certificate of Taxes and Taxable Properties and 2009 City of Monticello CAFR 2017 2008 (2) 97 CITY OF MONTICELLO New Construction and Bank Deposits Last Ten Fiscal Years New New New New Total New Commercial Commercial Residential Residential Residential &Percent Year Permits Value Permits Value Commercial Total (1)Change 2008 8 3,696,500$ 20 3,919,085$ 7,615,585$ 1,345,345$ 1.4% 2009 1 1,346,120 9 1,588,241 2,934,361 1,333,427 -0.9% 2010 3 2,070,000 2 319,118 2,389,118 1,288,460 -3.4% 2011 5 1,987,000 2 336,606 2,323,606 1,389,163 7.8% 2012 2 880,000 22 3,520,415 4,400,415 1,407,421 1.3% 2013 3 1,790,000 52 8,920,580 10,710,580 1,425,497 1.3% 2014 3 2,106,000 72 12,317,617 14,423,617 1,486,376 4.3% 2015 2 763,000 44 8,836,399 9,599,399 1,557,782 4.8% 2016 7 19,425,000 61 12,750,071 32,175,071 1,643,984 5.5% 2017 3 3,270,264 64 13,358,118 16,628,382 1,765,565 7.4% (1) Reported for Wright County as of June 30 Source: City of Monticello building department and FDIC Market Share Reports Bank DepositsBuilding Permits $- $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 New Residential and Commercial Construction Residential Commercial 98 CITY OF MONTICELLO Water Sold by Customer Type Last Ten Fiscal Years (gallons) Total % of % of % of % of Water % of Year Residential Total Commercial Total Industrial Total Government Total Sold Total 2008 409,879,658 69.0%84,234,653 14.2%47,790,000 8.0%52,154,498 8.8%594,058,809 100.0% 2009 430,263,791 75.0%69,825,753 12.2%38,713,057 6.8%34,601,796 6.0%573,404,397 100.0% 2010 376,687,840 67.1%90,001,208 16.0%47,225,176 8.4%47,227,405 8.4%561,141,629 100.0% 2011 348,580,072 66.0%84,194,027 15.9%50,971,196 9.7%44,219,755 8.4%527,965,050 100.0% 2012 426,358,402 69.0%97,281,410 15.7%46,654,712 7.5%47,866,428 7.7%618,160,952 100.0% 2013 383,079,041 68.8%85,819,687 15.4%45,954,136 8.2%42,206,803 7.6%557,059,667 100.0% 2014 328,835,772 68.2%79,370,922 16.5%38,308,124 7.9%35,566,000 7.4%482,080,818 100.0% 2015 325,188,041 68.1%76,283,322 16.0%38,897,216 8.1%37,005,919 7.8%477,374,498 100.0% 2016 329,068,876 67.7%77,795,226 16.0%42,407,860 8.7%36,647,583 7.5%485,919,545 100.0% 2017 371,596,967 67.7%93,770,712 17.1%43,220,312 7.9%40,409,649 7.4%548,997,640 100.0% Source: City of Monticello utility billing department 0 100 200 300 400 500 600 700 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017MillionsWater Sold by Customer Type (gallons) Government Industrial Commercial Residential 99 CITY OF MONTICELLO Water and Sewage Utility Rates Last Ten Fiscal Years Rate Tier 1 Rate Tier 2 Rate Tier 3 Rate Tier 4 Rate Tier 1 Rate Tier 2 Rate Tier 3 Rate Tier 4 Rate Tier 1 Rate Tier 1 Base Rate 501–4,000 4,001–13,369 Over 13,369 Base Rate 501–4,000 4,001–13,369 Over 13,369 Base Rate Over 500 Fiscal First 500 per 100 per 100 per 100 First 500 per 100 per 100 per 100 First 500 per 100 Year Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet Cubic Feet 2008 11.91$ 0.74$ 0.84$ N/A 11.91$ 0.74$ N/A N/A 13.75$ 2.47$ 2009 12.40 0.78 0.88 N/A 12.40 0.78 N/A N/A 14.45 2.60 2010 13.00 0.85 0.95 N/A 14.75 0.95 N/A N/A 15.15 2.75 2011 14.30 0.95 1.10 1.20 14.30 0.95 1.10 1.20 16.75 3.00 2012 15.44 1.03 1.19 1.30 15.44 1.03 1.19 1.30 18.76 3.36 2013 17.00 1.13 1.31 1.43 17.00 1.13 1.31 1.43 20.65 3.70 2014 17.00 1.13 1.31 1.43 17.00 1.13 1.31 1.43 20.65 3.70 2015 17.85 1.19 1.38 1.50 17.85 1.19 1.38 1.50 21.69 3.89 2016 18.85 1.22 1.41 1.50 18.85 1.22 1.41 1.50 22.69 3.97 Rate Tier 1 Rate Tier 2 Rate Tier 3 Rate Tier 4 Rate Tier 1 Rate Tier 2 Rate Tier 3 Rate Tier 4 Rate Tier 1 Rate Tier 1 Base Rate 1,001–10,000 10,001–33,000 Over 33,000 Base Rate 1,001–10,000 10,001–33,000 Over 33,000 Base Rate Over 1,000 Fiscal First 1,000 per 1,000 per 1,000 per 1,000 First 1,000 per 1,000 per 1,000 per 1,000 First 1,000 per 1,000 Year Gallons Gallons Gallons Gallons Gallons Gallons Gallons Gallons Gallons Gallons 2017 6.95 1.70 1.97 2.15 6.95 1.70 1.97 2.15 8.75 5.63 N/A – Not Available Note: The city began billing monthly rather than quarterly in 2017. Source: City of Monticello fee schedule Residential Commercial Water Sewage Residential Commercial Water Sewage 100 CITY OF MONTICELLO Ratios of Outstanding Debt by Type Last Ten Fiscal Years 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Governmental activities General obligation bonds Special assessment 24,075,000$ 21,535,000$ 21,320,000$ 29,490,000$ 26,625,000$ 13,010,000$ 12,203,653$ 11,689,653$ 12,730,000$ 12,695,000$ Other 15,737,903 12,822,903 11,531,903 10,196,903 8,877,403 7,506,653 10,487,000 9,563,000 7,686,000 5,785,000 Tax abatement - - - - - - - - - 2,960,000 Tax increment 575,000 470,000 - - - - - - - - Net premium (discount) 651,542 631,516 572,079 818,803 744,748 265,320 67,350 190,196 159,266 128,336 Total GO bonds 41,039,445 35,459,419 33,423,982 40,505,706 36,247,151 20,781,973 22,758,003 21,442,849 20,575,266 21,568,336 Certificates of indebtedness - - - - - 445,000 385,000 325,000 265,000 200,000 Total general obligation debt 41,039,445 35,459,419 33,423,982 40,505,706 36,247,151 21,226,973 23,143,003 21,767,849 20,840,266 21,768,336 Non-general obligation bonds Revenue 5,742,098 5,209,011 4,612,454 3,690,898 2,739,341 1,782,784 985,000 - - - Contract for deed 564,293 - - - - - - - - - Total governmental activites 47,345,836$ 40,668,430$ 38,036,436$ 44,196,604$ 38,986,492$ 23,009,757$ 24,128,003$ 21,767,849$ 20,840,266$ 21,768,336$ Business-type activities General obligation revenue bonds 907,097$ 837,097$ 747,097$ 654,097$ 568,597$ 3,479,347$ 3,206,347$ 2,930,347$ 2,460,000$ 2,280,000$ Non-general obligation Revenue bonds 26,445,000 26,445,000 26,445,000 26,445,000 26,445,000 26,445,000 - - - - PFA loans - - - - - - - 615,268 1,927,850 1,998,402 Net premium (discount) (502,517) (479,980) (457,441) (434,904) (412,366) (360,211) 31,941 30,339 27,354 23,495 Total business-type activities 26,849,580$ 26,802,117$ 26,734,656$ 26,664,193$ 26,601,231$ 29,564,136$ 3,238,288$ 3,575,954$ 4,415,204$ 4,301,897$ Total primary government 74,195,416$ 67,470,547$ 64,771,092$ 70,860,797$ 65,587,723$ 52,573,893$ 27,366,291$ 25,343,803$ 25,255,470$ 26,070,233$ % of personal income (1) 18.1% 15.7% 15.8% 15.3% 13.2% 10.1% 5.1% 4.5% 4.3% 4.3% Per capita debt (1) 6,528$ 5,879$ 5,632$ 5,554$ 5,071$ 4,055$ 2,106$ 1,931$ 1,899$ 1,960$ (1) See the Schedule of Demographic and Economic Statistics. Source: Details regarding the city’s outstanding debt can be found in the notes to basic financial statements. 101 CITY OF MONTICELLO Ratios of Net General Obligation Bonded Debt Outstanding Last Ten Fiscal Years Percentage of Less Net Estimated General Position Actual Market Obligation Restricted for Value of Year Bonds (1)Debt Service Total Property (2)Per Capita (3) 2008 41,946,542$ 22,074,427$ 19,872,115$ 1.55%1,748$ 2009 36,296,516 17,688,193 18,608,323 1.49%1,621 2010 34,171,079 18,337,866 15,833,213 1.33%1,377 2011 41,159,803 16,894,936 24,264,867 2.19%1,902 2012 36,815,748 13,061,044 23,754,704 1.95%1,836 2013 24,706,320 9,660,316 15,046,004 1.25%1,161 2014 26,349,350 9,942,901 16,406,449 1.08%1,263 2015 24,728,535 9,266,800 15,461,735 0.90%1,178 2016 23,327,620 7,009,231 16,318,389 0.89%1,227 2017 24,071,831 6,359,147 17,712,684 0.90%1,321 (1) Does not include revenue bonds. (2) See the Schedule of Taxable Net Tax Capacity Value and Estimated Market Value of Taxable Property for the estimated actual market value. (3) See the Schedule of Demographic and Economic Statistics. Source: Details regarding the city’s outstanding debt can be found in the notes to basic financial statements. 102 CITY OF MONTICELLO Legal Debt Margin Information Last Ten Fiscal Years 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 37,303,833$ 38,074,842$ 35,646,663$ 33,196,242$ 36,591,591$ 35,671,296$ 45,407,112$ 51,363,756$ 54,853,128$ 58,860,603$ Total net debt applicable to debt limit 6,180,000 5,585,000 4,985,000 4,365,000 3,795,000 6,200,000 10,872,000 9,888,000 7,951,000 8,945,000 Legal debt margin 31,123,833$ 32,489,842$ 30,661,663$ 28,831,242$ 32,796,591$ 29,471,296$ 34,535,112$ 41,475,756$ 46,902,128$ 49,915,603$ Total net debt applicable to debt limit as a percentage of debt limit 16.6% 14.7% 14.0% 13.1% 10.4% 17.4% 23.9% 19.3% 14.5% 15.2% Market value 1,962,020,100$ Debt limit (3% of market value) 58,860,603$ Debt applicable to limit General obligation bonds 23,920,000 Less amounts for general obligation bonds not subject to debt limit (14,975,000) Total net debt applicable to limit 8,945,000 Legal debt margin 49,915,603$ Source: Details regarding the city’s outstanding debt can be found in the notes to basic financial statements. Market value data provided in Wright County Certificate of Taxes and Taxable Properties. Legal Debt Margin Calculation for Fiscal Year 2017 Fiscal Year Legal debt limit 103 CITY OF MONTICELLO Computation of Direct and Overlapping Debt As of December 31, 2017 Estimated Gross percentage Amount bonded debt applicable applicable to Jurisdiction outstanding to city (1)city DIRECT DEBT: City of Monticello 21,768,336$ 100.0%21,768,336$ OVERLAPPING DEBT: I.S.D. 882 49,330,000 75.9%37,441,470 Wright County 53,685,000 18.9%10,146,465 Total Overlapping Debt 47,587,935 Total direct and overlapping debt 69,356,271$ (1) Note: Source: The Wright County auditor provided the debt outstanding and estimated applicable percentages for the school district and county. The percentage of overlapping debt applicable is estimated using taxable assessed property values. Applicable percentages were estimated by determining the portion of the government’s taxable assessed value that is within the City’s boundaries and dividing it by the government’s total taxable assessed value. Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. This schedule estimates the portion of the outstanding debt of those overlapping governments that is borne by the residents and businesses of the City. This process recognizes that, when considering the government’s ability to issue and repay long-term debt, the entire debt burden borne by the residents and businesses should be taken into account. However, this does not imply that every taxpayer is a resident and, therefore, responsible for repaying the debt of each overlapping government. 104 CITY OF MONTICELLO Schedule of General Obligation Revenue Bond Coverage Last Ten Fiscal Years Sewage Fund: Net Revenue Gross Operating Available for Year (3)Revenues (1)Expenses(2)Debt Service Principal Interest Total Coverage 2013 2,006,718$ 1,476,418$ 530,300$ -$ -$ -$ - 2014 2,081,660 1,570,197 511,463 273,000 91,963 364,963 140.1% 2015 2,083,122 1,479,157 603,965 276,000 84,158 360,158 167.7% 2016 2,223,252 1,411,831 811,421 570,830 78,002 648,832 125.1% 2017 2,472,774 1,552,617 920,157 289,000 63,823 352,823 260.8% (1) Total revenues does not include investment earnings. (2) Total operating expenses excluding depreciation. (3) The first year of bond payments is 2014. Schedule excludes telecommunications bonds. No other revenue bonds existed before 2013. Source: Finance Department Debt Service Requirements (3) 105 CITY OF MONTICELLO Demographic and Economic Statistics Last Ten Fiscal Years Per Estimated Capita Unemployment School Personal Personal Year Population (1)rate (2)Enrollment (3)Income (4)Income (5) 2008 11,366 5.7%3,921 411,017,292$ 36,162$ 2009 11,476 7.9%3,928 430,923,800 37,550 2010 11,501 8.8%3,932 410,758,215 35,715 2011 12,759 7.5%3,921 462,041,667 36,213 2012 12,935 6.2%3,989 498,178,590 38,514 2013 12,964 4.6%4,031 520,193,464 40,126 2014 12,993 3.8%4,010 531,660,567 40,919 2015 13,125 3.7%4,058 558,140,625 42,525 2016 13,299 4.3%4,080 589,438,278 44,322 2017 13,409 3.5%4,200 606,690,205 45,245 Notes/sources: (1) (2) (3) (4) (5) 2010 U.S. Bureau of Census; 2008–2009 and 2011–2017 Minnesota State Demographic Center population estimates. Annual average unemployment rate for Wright County provided by the Minnesota Department of Employment & Economic Development. ISD No. 882 enrollment information was obtained from the District ADM and LEP Projections report. The enrollment information is based on the resident ADMs (average daily membership) served. This estimated personal income number is calculated by taking the per capita personal income and multiplying it by the city’s population. Also see note (5) regarding the per capita personal income figures. Per capita personal income data is provided by the Bureau of Economic Analysis. Monticello's estimates are based on Wright County information. Wright County, where Monticello is located, is the smallest, relevant statistical tracking area. Data is subject to annual revisions by the Bureau of Economic Analysis. 106 CITY OF MONTICELLO Principal Employers Current Year and Nine Years Ago Percentage of Percentage of Total City Total City Employer Employees Rank Employment (1)Employees Rank Employment (1) Xcel Energy (Northern States)700 1 9.6%422 3 6.4% ISD No. 882 (Monticello)576 2 7.9%455 2 6.9% CentraCare Medical Center (New River)500 3 6.8%515 1 7.8% Cargill Kitchen Solutions (Sunny Fresh)433 4 5.9%396 4 6.0% Wal-Mart Supercenter 325 5 4.4%325 5 4.9% City of Monticello 188 6 2.6%151 6 2.3% Cub Foods 180 7 2.5%122 9 1.9% Ultra Machine Corporation 173 8 2.4%130 8 2.0% Home Depot 160 9 2.2% Target 150 10 2.0% Denny Hecker Monticello 150 7 2.3% Monticello Clinic 98 10 1.5% 3,385 48.0%2,764 44.8% (1) The city estimates its workforce by using the city's percentage of total county population and multiplying that number by the county's total workforce. (2) The 2008 principal employers are not available. Values are as of 2009. Source: City of Monticello 2017A Bond Statement and 2009 City of Monticello CAFR 2017 2008 (2) 107 CITY OF MONTICELLO City Government Employees by Function/Program Last Ten Fiscal Years 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Employees by function General Fund General government 9.60 9.60 11.00 11.00 11.00 11.00 12.50 12.50 13.50 11.50 Public Safety Building Official 3.00 3.00 3.00 3.00 3.00 3.00 3.00 4.00 4.00 4.00 Public works Engineering 3.00 3.00 3.00 3.00 3.00 1.00 1.00 1.00 1.00 1.00 Maintenance(1)21.50 19.50 19.50 19.00 19.00 19.00 18.50 18.50 18.50 10.50 Culture and recreation Parks 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 13.00 Community development 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 Special Revenue Funds Culture and recreation Community center-FT 8.00 8.00 8.00 8.00 8.00 8.00 7.50 7.50 7.50 7.50 Community center-PT(2)36.50 36.50 36.50 36.50 36.50 36.50 36.50 36.50 36.50 38.00 Enterprise Funds Sewer/water 4.00 4.00 4.00 4.00 4.00 4.00 4.00 5.00 5.00 7.00 Deputy registrar(3)5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 7.50 Liquor store 10.00 10.00 10.00 10.00 10.00 10.00 11.50 11.50 11.50 16.00 FiberNet(4)- 6.00 11.00 11.50 11.50 8.50 8.50 8.50 - - Total 107.60 111.60 118.00 118.00 118.00 113.00 115.00 117.00 109.50 118.00 Employees by fund type General Fund 44.10 42.10 43.50 43.00 43.00 41.00 42.00 43.00 44.00 42.00 Special Revenue Funds 44.50 44.50 44.50 44.50 44.50 44.50 44.00 44.00 44.00 45.50 Enterprise Funds 19.00 25.00 30.00 30.50 30.50 27.50 29.00 30.00 21.50 30.50 107.60 111.60 118.00 118.00 118.00 113.00 115.00 117.00 109.50 118.00 FT = Full-time PT = Part-time (1) Includes seasonal public works (2) Years 2007-2013 were estimated 2014 levels as data was not previously tracked. (3) Prior to 2013, the deputy registrar function was included with general government. Prior years were restated. (4) Management and operations were contracted beginning July 1, 2016. Source: City of Monticello human resources department Fiscal Year 108 CITY OF MONTICELLO Operating Indicators by Function Last Ten Fiscal Years 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Function Fire Calls for service 395 375 282 284 237 270 286 262 270 312 Public works Salt (tons) 474 475 521 445 300 475 385 534 525 461 Sand (tons) 611 615 710 547 335 325 600 285 300 397 Crack sealant (pounds) 18,150 15,000 23,580 11,384 1,492 25,739 23,282 29,580 49,039 46,721 Asphalt repairs (tons of asphalt) 200 200 200 253 220 225 190 293 220 167 Culture and recreation Shade trees planted 410 425 150 140 220 275 270 257 280 320 Diseased trees removed 868 200 180 113 205 71 46 208 60 40 Trails maintained (miles) 17 17 17 17 17 17 18 18 20 40 Community center users 186,429 186,279 183,527 190,014 175,272 211,234 204,134 199,228 197,523 188,124 Program sales 129,339$ 149,829$ 167,723$ 168,159$ 162,227$ 192,708$ 184,125$ 213,924$ 193,628$ 149,821$ Rental revenue 136,547$ 127,612$ 184,913$ 154,962$ 149,733$ 163,329$ 150,964$ 154,938$ 168,353$ 162,985$ Economic development Permits issued 3,681 879 495 372 632 659 721 768 802 911 Permit valuation 45,950,000$ 11,630,000$ 9,033,078$ 5,333,124$ 12,285,873$ 15,821,223$ 19,714,895$ 36,242,742$ 59,426,683$ 43,853,123$ New single-family dwellings 20 9 2 2 22 52 72 44 61 64 Water Meters/remotes replaced 111 280 145 215 418 235 598 694 991 734 Curb box repairs (water valves) 75 200 200 200 100 100 100 100 100 100 Hydrant repair 175 175 175 430 300 300 203 430 250 177 Residential water gallons used 409,879,658 430,263,791 376,687,840 348,580,072 426,358,402 383,079,041 328,835,772 325,188,041 329,068,876 371,596,967 Avg. daily consumption (MG) 1.749 1.806 1.625 1.557 1.798 1.621 1.400 1.308 1.419 1.580 Max. daily gallons pumped (MG) 4.728 4.496 3.565 4.116 4.590 4.269 4.031 3.203 3.450 4.168 Sewer Sewage flow (MG) 408 390 398 431 408 392 435 417 432 445 Thickened sludge (wet tons) n/a n/a n/a n/a n/a n/a 1,924 1,549 1,449 1,578 Thickened sludge (dry tons) n/a n/a n/a n/a n/a n/a 264 236 216 229 Dry tons as % of wet tons n/a n/a n/a n/a n/a n/a 0 15.2% 14.9% 14.5% Library Items checked out 216,599 219,694 248,327 228,886 237,938 263,220 199,182 195,235 190,433 182,986 Programs offered 155 170 164 153 149 173 169 167 212 290 Program participants 3,869 4,100 3,604 3,807 3,761 3,773 3,788 3,919 4,306 5,336 Fiscal Year (continued) 109 CITY OF MONTICELLO Operating Indicators by Function Last Ten Fiscal Years (continued) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fiber optics Customers n/a n/a n/a n/a n/a n/a 1,539 1,574 1,630 1,671 Service subscriptions n/a n/a n/a n/a n/a n/a 2,755 2,656 2,589 2,528 TV customers n/a n/a n/a n/a n/a n/a 813 714 641 543 Phone customers n/a n/a n/a n/a n/a n/a 582 518 461 431 Internet customers n/a n/a n/a n/a n/a n/a 1,360 1,424 1,487 1,554 Liquor store Transactions n/a n/a n/a n/a n/a n/a 229,236 237,535 235,901 248,356 Average liquor sale transaction n/a n/a n/a n/a n/a n/a 21.90$ 22.42$ 22.39$ 22.42$ Beer sales 2,066,537$ 2,187,948$ 2,289,801$ 2,328,735$ 2,483,194$ 2,539,168$ 2,604,942$ 2,763,478$ 2,768,394$ 2,933,853$ Liquor sales 1,129,351$ 1,214,817$ 1,251,448$ 1,343,109$ 1,396,521$ 1,506,776$ 1,546,118$ 1,634,198$ 1,624,908$ 1,739,562$ Wine sales 492,183$ 575,521$ 657,562$ 748,908$ 812,832$ 860,817$ 868,779$ 927,732$ 889,082$ 894,151$ Gross profit margin % - beer 20.7% 15.7% 20.4%19.1% 20.3% 22.5% 21.4% 25.6% 21.1% 23.2% Gross profit margin % - liquor 23.9% 26.8% 29.6%28.0% 29.3% 27.7% 30.3% 29.8% 29.0% 26.6% Gross profit margin % - wine 17.0% 20.2% 26.8%28.5% 31.4% 29.7% 30.7% 31.5% 32.5% 34.4% Deputy registrar (DMV) Motor vehicle transactions 45,595 48,000 51,250 54,814 56,211 55,261 60,051 64,927 67,508 70,605 DNR transactions 5,913 5,646 5,982 5,616 5,465 5,727 5,949 5,914 6,318 5,873 Game/fish transactions 235 250 156 325 509 445 433 387 600 647 Drivers licenses transactions n/a 450 605 579 814 951 1,462 1,294 1,465 1,390 Total transactions 51,743 54,346 57,993 61,334 62,999 62,384 67,895 72,522 75,891 78,515 Dealerships serviced n/a n/a n/a n/a n/a 19 19 19 21 26 Net revenue per transaction n/a n/a n/a 1.71$ 2.75$ 2.68$ 2.91$ 3.02$ 3.05$ 2.66$ N/A = Not Available MG = Millions of Gallons Note: Indicators are not available for the general government function. Sources: Various city departments Fiscal Year 110 CITY OF MONTICELLO Capital Assets Statistics by Function Last Ten Fiscal Years 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Function Public safety Fire Fire stations in service 1 1 1 1 1 1 1 1 1 1 Number of volunteers 30 30 30 30 30 30 30 30 30 30 Public works Streets (miles)67.6 68.0 68.0 68.0 68.0 68.0 68.0 68.0 68.0 69.0 Recreation and culture Parks acreage 120 180 509 635 635 696 860 326 367 367 Parks 20 20 28 28 28 28 30 30 30 30 Park buildings 10 11 15 15 15 15 15 15 15 15 Community center (sq. ft.)81,000 81,000 81,000 81,000 81,000 82,000 82,000 82,000 82,000 82,000 Water Fire hydrants 700 700 700 700 700 700 700 700 700 700 Note: No capital asset indicators are available for the general government and economic development functions. Note: The city contributed jointly-owned land at the Bertram Chain of Lakes to Wright County in 2015. Source: Various city departments 111       