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2010 Monticello Annual Comprehensive Financial Report INTRODUCTORY SECTION FINANCIAL SECTION -1- INDEPENDENT AUDITOR’S REPORT City Council and Residents City of Monticello, Minnesota We have audited the accompanying financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City of Monticello, Minnesota (the City) as of and for the year ended December 31, 2010, which collectively comprise the City’s basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City’s management. Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and the significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinions. In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of the City as of December 31, 2010, and the respective changes in financial position and cash flows, where applicable thereof, for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated June 22, 2011 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements, and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. (continued) -1- CITY OF MONTICELLO Management’s Discussion and Analysis Year Ended December 31, 2010 -3- As management of the City of Monticello, Minnesota (the City), we offer the readers of these financial statements this narrative overview and analysis of the City’s financial activities for the fiscal year ended December 31, 2010. FINANCIAL HIGHLIGHTS The assets of the City exceeded its liabilities at year-end by $112,054,816 (net assets). Of this amount, $33,239,569 (unrestricted net assets) may be used to meet the City’s ongoing obligations to citizens and creditors. As of the close of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $29,657,934, a decrease of $2,047,462 from the prior year. Reserved and designated uses of fund balance totaled $12,994,754, leaving $16,663,180 available for spending at the City’s discretion (unreserved and undesignated fund balance). At the end of the current fiscal year, unreserved – undesignated fund balance for the General Fund was $1,449,748, or 23.1 percent, of total General Fund expenditures for 2010. In addition, the City has $2,875,000 as unreserved – designated for working capital. The City targets 45 percent of next year’s expenditure budget as the optimum fund balance level, providing a reserve for cash flow during the first six months of each subsequent year until property tax receipts are released from the county treasurer’s office and distributed to the local levels of government. The $2,875,000 represents this 45 percent and is reported as designated for working capital in the General Fund. The City’s total long-term liabilities decreased by $2,627,972 (3.9 percent) during 2010. Principal payments made on outstanding debt totaled $5,956,000. The City issued $3,255,000 in new debt in 2010 to fund infrastructure improvements and refund an existing improvement bond. OVERVIEW OF THE FINANCIAL STATEMENTS This discussion and analysis is intended to serve as an introduction to the City’s basic financial statements, which are comprised of three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to basic financial statements. The report also contains other required supplementary information, which can provide detailed information on the City’s financial activity. Government-Wide Financial Statements – The government-wide financial statements are designed to provide readers with a broad overview of the City’s finances in a manner similar to a private sector business. The Statement of Net Assets presents information on all of the City’s assets and liabilities, with the difference between the two reported as net assets. Over time, the changes in net assets may serve as a useful indicator of the financial health of the City. The Statement of Activities presents information showing how the City’s net assets changed during the year. All changes in net assets are reported as soon as the underlying event affecting the change occurs, regardless of the timing of related cash flows. Therefore, revenues and expenses are reported in this statement for some items that will result in cash flows in future fiscal periods, such as uncollected taxes and earned but unused vacation leave. -4- Both of the government-wide financial statements distinguish functions of the City that are principally supported by taxes and intergovernmental revenue (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business-type activities). The governmental activities provided by the City include general government, public safety, public works, sanitation, culture and recreation, and economic development. Business-type activities include water, sewer, liquor, cemetery, and fiber optic activities. The government-wide financial statements include not only the City itself (known as the primary government), but also the Economic Development Authority (EDA). The EDA is a legally separate entity which functions, in essence, as a department of the City, to provide redevelopment assistance through the administration of various programs. Therefore, the EDA has been included as an integral part of the City’s financial statements. Fund Financial Statements – A fund is a grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives. The City, like other units of government, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the City’s funds can be divided into two categories: governmental funds and proprietary funds. Governmental Funds – Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide financial statements. However, unlike the government-wide financial statements, governmental fund financial statements focus on near-term receipt and use of spendable resources, as well as on the balance of spendable resources available at the end of the fiscal year. This information may be useful in evaluating a government’s near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide financial statements, it is useful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide statements. By doing so, readers may better understand the long-term impact of the City’s near-term financing decisions. Both the governmental funds Balance Sheet and the governmental funds Statement of Revenue, Expenditures, and Changes in Fund Balances provide a reconciliation to facilitate this comparison. The City maintains several individual governmental funds. Information is presented separately in the governmental funds Balance Sheet and in the governmental funds Statement of Revenue, Expenditures, and Changes in Fund Balances for the General Fund, Community Center Special Revenue Fund, Capital Outlay Revolving Special Revenue Fund, EDA Special Revenue Fund, Sanitary Sewer Access Special Revenue Fund, Debt Service Fund, and Capital Projects Fund, all of which are considered to be major funds. Data from the remaining governmental funds are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor governmental funds is provided in the form of combining statements elsewhere in this report. The City adopts an annual budget for its General Fund and major special revenue funds. A budgetary comparison schedule has been provided for the General Fund and major special revenue funds to demonstrate compliance with the adopted budgets. Proprietary Funds – The City maintains five enterprise funds which are considered proprietary funds. Enterprise funds are used to report the same functions presented as business-type activities in the government-wide financial statements. The City uses enterprise funds to account for its water and sewer service operations, liquor sales operation, cemetery maintenance, and fiber optics operation. Proprietary funds provide the same type of information as the government-wide financial statements, only in more detail. The proprietary fund financial statements provide separate information for each of the enterprise operations. -5- Notes to Basic Financial Statements – The notes to basic financial statements provide additional information that is essential to obtaining a full understanding of the data provided in the government-wide and fund financial statements. Other Information – Additional information on nonmajor funds can be found in the combining nonmajor fund statements section of this report. GOVERNMENT-WIDE FINANCIAL ANALYSIS As noted earlier, net assets may serve over time as a useful indicator of a government’s financial position. The City’s assets exceeded its liabilities by $112,054,816 at the end of 2010. A portion of the City’s net assets (54 percent) reflects its investment in capital assets (e.g. land, buildings, machinery and equipment, and infrastructure) less any related outstanding debt used to acquire those assets. The City uses these capital assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other resources, since the capital assets themselves cannot be used to liquidate these liabilities. A portion of the City’s net assets (30 percent) reflects its unrestricted net assets which may be used to meet the City’s ongoing obligations to citizens and creditors. City of Monticello’s Net Assets 201020092010200920102009 Current and other assets48,467,136$ 50,378,271$ 16,141,875$ 24,988,321$ 64,609,011$ 75,366,592$ Capital assets69,750,143 74,188,401 47,415,729 37,120,792 117,165,872 111,309,193 Total assets118,217,279 124,566,672 63,557,604 62,109,113 181,774,883 186,675,785 Long-term liabilities 38,527,259 40,807,766 26,807,004 27,348,922 65,334,263 68,156,688 Other liabilities2,574,057 4,175,182 1,811,747 1,984,127 4,385,804 6,159,309 Total liabilities41,101,316 44,982,948 28,618,751 29,333,049 69,720,067 74,315,997 Net assets Invested in capital assets, net of related debt31,901,676 33,712,370 28,556,355 29,910,696 60,458,031 63,623,066 Restricted18,337,866 17,688,193 19,350 19,350 18,357,216 17,707,543 Unrestricted26,876,421 28,183,161 6,363,148 2,846,018 33,239,569 31,029,179 Total net assets77,115,963$ 79,583,724$ 34,938,853$ 32,776,064$ 112,054,816$112,359,788$ Governmental ActivitiesBusiness-Type ActivitiesTotal At the end of 2010, the City was able to report positive balances in all three categories of net assets, both for the government as a whole and for its separate governmental and business-type activities. -6- Governmental Activities – The net assets invested in capital assets, net of related debt in the City’s governmental activities decreased from the previous year is the result of transfers from the governmental activities into the business-type activities for capital in the Water and Sewer Funds. Net assets before transfers increased due to improvements to the City’s infrastructure including the 2010 Street Reconstruction Project and Highway 25 and 75 intersection improvements, of which the state contributed a portion of the cost through its State Street Aid programs. Business-Type Activities – The shifts in net assets invested in capital assets, net of related debt and unrestricted net assets in the City’s business-type activities during 2010 are mainly because of the ongoing construction of the City’s Fiber Optics Project. In 2010, the project included the installation of the fiber optics system within the City and installation to customers. Charges for services increased in 2010 because the City started billing customers for services of this new fiber optic system. Overall, net assets increased in the business-type activities due to contributions of capital assets totaling $6,030,225 to the Water and Sewer Funds from the governmental funds in fiscal 2010. City of Monticello’s Changes in Net Assets 201020092010200920102009 Revenues Program revenues Charges for services3,453,575$ 2,785,345$ 3,939,379$ 3,454,417$ 7,392,954$ 6,239,762$ Operating grants and contributions424,845 269,492 – – 424,845 269,492 Capital grants and contributions4,124,271 2,067,509 – – 4,124,271 2,067,509 General revenues Property taxes8,260,705 8,821,568 – – 8,260,705 8,821,568 Franchise taxes371,258 48,517 – – 371,258 48,517 General grants and aids37,665 406,735 – – 37,665 406,735 Investment earnings859,583 770,178 236,131 188,178 1,095,714 958,356 Other442,091 366,961 125,326 42,360 567,417 409,321 Gain (loss) on sale of capital assets– 41,173 – – – 41,173 Total revenues17,973,993 15,577,478 4,300,836 3,684,955 22,274,829 19,262,433 Expenses General government2,065,463 1,780,972 – – 2,065,463 1,780,972 Public safety1,766,712 2,849,272 – – 1,766,712 2,849,272 Public works3,579,291 3,827,501 – – 3,579,291 3,827,501 Sanitation534,903 547,160 – – 534,903 547,160 Culture and recreation2,609,429 2,828,152 – – 2,609,429 2,828,152 Economic development2,647,687 842,819 – – 2,647,687 842,819 Interest and fiscal charges1,464,012 1,673,431 – – 1,464,012 1,673,431 Water– – 936,718 1,018,098 936,718 1,018,098 Sewer– – 2,495,976 2,074,447 2,495,976 2,074,447 Liquor– – 637,574 669,940 637,574 669,940 Cemetery– – 26,659 27,530 26,659 27,530 Fiber optics– – 3,815,377 2,792,813 3,815,377 2,792,813 Total expenses14,667,497 14,349,307 7,912,304 6,582,828 22,579,801 20,932,135 Increase in net assets before transfers3,306,496 1,228,171 (3,611,468) (2,897,873) (304,972) (1,669,702) Transfers(5,774,257) 251,133 5,774,257 (251,133) – – Change in net assets(2,467,761) 1,479,304 2,162,789 (3,149,006) (304,972) (1,669,702) Net assets – beginning of year79,583,724 78,104,420 32,776,064 35,925,070 112,359,788 114,029,490 Net assets – end of year77,115,963$ 79,583,724$ 34,938,853$ 32,776,064$ 112,054,816$ 112,359,788$ TotalGovernmental ActivitiesBusiness-Type Activities The City’s net assets decreased in fiscal 2010 by $304,972. This decrease was the result of the continued construction and the startup of operations of the City’s Fiber Optics Project in 2010. The City also experienced a significant decline in the net realizable value of land held for resale in fiscal 2010. -7- GOVERNMENTAL ACTIVITIES – REVENUES Revenues by Source – Governmental Activities General Grants and Aids <1% Charges for Services 19%Investment Earnings 5% Operating Grants and Contributions 2% Other 2%Capital Grants and Contributions 23% Franchise Taxes 2% Property Taxes 47% Revenues for the City’s governmental activities increased by $2,396,515, or 15 percent. The major components of this increase are explained as follows: • Capital grants and contributions increased by $2,056,762, or 99 percent. This increase was due to the City special assessing property owners for their share of the 2010 Street Reconstruction Project and other improvement projects. • Charges for services increased by $668,230, or 24 percent. This increase was primarily due to development fees paid and the City charging for its services on construction projects. • Investment earnings increased by $89,405, or 12 percent, due to stable interest rates on long-term investments and an increase in available cash to invest from the prior year. • General grants and aids decreased due to the fact that the City received a Neighborhood Stabilization Grant in 2009 to help rejuvenate vacant properties due to foreclosures and did not receive grant funding in 2010. Expenses – City expenses for governmental activities increased by $318,190, or 2.2 percent. This increase is primarily due to an increase in overall general government costs. -8- BUSINESS-TYPE ACTIVITIES Revenues by Source – Business-Type Activities Charges for Services 92% Other 3% Investment Earnings 5% Business-type activities increased the City’s net assets by $2,162,789. The rates for each of the City’s utility services operated as enterprise funds are reviewed annually and adjusted by the City Council to assure operating revenues are independently sufficient to cover their own operating expenses and provide for their own capital equipment replacement needs. Capital grants and contributions may be necessary for the future replacement of facility needs as the current and projected future rates will not be sufficient for their ultimate replacement. The City’s business-type charges for services increased by $484,962, or 14 percent, primarily due to the new charges for the City’s new fiber optic system which began operations in 2009. Investment earnings increased due to interest rates remaining near 2009 rates and increased funds invested. Business-type expenses increased from the previous year by $1,329,476 due to increased costs related to the Fiber Optics Fund of $1,022,564. FINANCIAL ANALYSIS OF THE GOVERNMENT’S FUNDS As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental Funds – The focus of the City’s governmental funds is to provide information on near-term receipts, uses, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements. In particular, unreserved fund balance may serve as a useful measure of a government’s net resources available for spending at the end of the fiscal year. As of the end of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $29,657,934, a decrease of $2,047,462 from the prior year. Approximately 56 percent of this total amount ($16,663,180) constitutes unreserved and undesignated fund balance, which is available for spending at the City’s discretion. The remainder of fund balance is designated to indicate that, although it is available for spending, it has been internally committed: 1) to liquidate contracts and purchase orders of the prior period; 2) to pay debt service, or 3) for a variety of other designated purposes. -9- The City’s General Fund decreased $116,599 during the current fiscal year. Decreased licenses and permits, and intergovernmental revenue provided the decreases in revenues, while charges for services and investment earnings increased for 2010. The decreases were due to less construction activity taking place in 2010 and the increase in charges for services was a result of the City charging construction projects for their share of city costs. The City also transferred out to other funds $1,204,000 from the General Fund in 2010, which was an increase of $708,687. The transfers maintain the City’s General Fund balance within the City’s fund balance policy guidelines. Each of the main activities of the General Fund were completed efficiently and effectively as authorized within the adopted budget, without using reserve balances. These resulted in total General Fund expenditures being under budget by $58,342 for the year. Community Center Special Revenue Fund – The increase in the Community Center Special Revenue Fund balance was the result of a decrease of the majority of expenditures in 2010. Capital Outlay Revolving Special Revenue Fund – The increase in fund balance is due to the City budgeting and receiving utility transition aid from the state of Minnesota for the change in valuation for tax purposes of utility facilities that the City designates for future capital equipment purchases. EDA Special Revenue Fund – The EDA Special Revenue Fund in 2009 made the last payment on the contract for deed land purchase of the Otter Creek Business Park. The business park land is available for sale at a discount as an economic development incentive for industrial facilities. In addition, the EDA paid off three of its pay-as-you-go obligations to developers and decertified the tax increment districts in 2009. For these reasons both revenues and expenditures are lower in 2010 compared to 2009. In 2010, the City retired the 2004 Tax Increment Bond resulting in a large operating transfer. Sanitary Sewer Access Special Revenue Fund – The Sanitary Sewer Access Special Revenue Fund balance decreased by $905,978 due to reduced revenues because of less new development activity taking place in the City and the transfer of funds for the Sanitary Sewer Access Special Revenue Fund’s share of debt service payments. Debt Service Fund – The main revenue source is the collection of special assessments, with the annual principal and interest on debt as the main expenditure in 2010. Reserves of $557,429 were also used in 2010 for debt service payments. New debt was issued in 2010 for the Street Reconstruction Project, intersection improvements at Highway 25 and 75 and to refund the 2002 improvement bond. Capital Projects Fund – The Capital Projects Fund’s resources increased in the current year primarily from the proceeds from the sale of bonds being used for the 2010 Street Reconstruction Project and intersection improvements at Highway 25 and 75. Proprietary Funds – The City’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. Water Fund – Net assets increased $2,257,029 for the Water Fund; however, the Water Fund had an operating loss of $89,926 in 2010. The depreciable costs of assets are not fully offset by the water rates. Sewer Fund – Similar to the Water Fund, the depreciable cost of assets are not fully offset by the sewer rates and, therefore, the Sewer Fund had an operating loss in fiscal 2010. The sewer rates were increased 5 percent in 2010 resulting in an increase in revenues. Liquor Fund – The City’s liquor operations ended the year with an increase in net assets from operations. The City’s Liquor Fund had operating net income of $541,147 and transferred $266,000 to other funds to reduce property taxes. -10- Cemetery Fund – Net assets of the Cemetery Fund decreased $17,053 in 2010. The Cemetery Fund sets its charges and fees at a level to breakeven or to increase slightly. Fiber Optics Fund – In 2007, the City started its Fiber Optics Project, which installed a fiber optics system to every premise in the City to provide customers with phone, high-speed Internet, and cable television services as a self-supporting system with competitive pricing which will act as an economic development tool for the City. The system began operations in the spring of 2010 as system construction continued. As of December 31, 2010, the system was 90 percent to 95 percent complete with construction in progress in the amount of $12,204,062 and bonds payable of $26,445,000. GENERAL FUND BUDGETARY HIGHLIGHTS General Fund revenues for 2010 were over budget by $1,025,059 in total. Licenses and permits collected were $79,466 below budget due to the slow housing market and the poor economy related to new development. In addition, investment earnings were $48,021 below budget due to lower than expected interest rates. These decreases were offset by collection of prior year development fees and inspection fees charged on construction projects that were collected in 2010. General Fund expenditures for 2010 were only $51,087 less than budgeted. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets – The City’s investment in capital assets for its governmental and business-type activities amounts to $117,165,872 as of December 31, 2010, net of accumulated depreciation. This investment in capital assets includes fire and public works equipment, park and recreation facilities, buildings, roads, sewer, water, and storm sewer utilities. This amount represents a net increase (including additions and deductions) of $5,856,679 over last year. City of Monticello’s Capital Assets 201020092010200920102009 Land9,007,112$ 8,457,484$ 1,751,945$ 1,751,945$ 10,759,057$ 10,209,429$ Construction in progress8,750,672 30,666,145 12,235,455 8,545,482 20,986,127 39,211,627 Buildings 13,709,653 13,709,653 6,820,979 5,267,371 20,530,632 18,977,024 Improvements other than buildings5,173,392 4,472,313 20,182,718 19,733,928 25,356,110 24,206,241 Machinery, equipment, furniture, and vehicles4,440,856 4,390,832 2,191,902 1,619,549 6,632,758 6,010,381 Infrastructure58,608,523 39,890,096 34,417,075 28,847,331 93,025,598 68,737,427 Less accumulated depreciation(29,940,065) (27,398,122) (30,184,345) (28,644,814) (60,124,410) (56,042,936) Net total69,750,143$ 74,188,401$ 47,415,729$ 37,120,792$ 117,165,872$111,309,193$ Governmental ActivitiesBusiness-Type ActivitiesTotal Additional information on the City’s capital assets is located in Note 3 of the notes to basic financial statements. -11- Long-Term Debt – At the end of 2010, the City has total bonded debt outstanding in the amount of $64,964,000, of which $21,320,000 are special assessment bonds outstanding. The City has pledged revenue streams from general property taxes; the community center; water and sewer utility; fiber optic revenues; and sewer, water, and storm sewer access funds for the principal and interest payments due on these bonds. City of Monticello’s Outstanding Debt 201020092010200920102009 General obligation bonds11,531,903$ 12,822,903$ 747,097$ 837,097$ 12,279,000$ 13,660,000$ Tax increment bonds– 470,000 – – – 470,000 Special assessment bonds21,320,000 21,535,000 – – 21,320,000 21,535,000 Revenue bonds4,920,000 5,555,000 26,445,000 26,445,000 31,365,000 32,000,000 Total37,771,903$ 40,382,903$ 27,192,097$ 27,282,097$ 64,964,000$ 67,665,000$ Total Governmental Activities Business-Type Activities The City’s total debt decreased by $2,701,000, or approximately 3.9 percent, during 2010. State statutes limit the amount of general obligation debt a governmental entity may issue to 3 percent of its taxable market value. The current debt limit is $35,646,667, which is significantly in excess of the City’s outstanding net general obligation debt of $4,985,000, which is subject to the limitation. Additional information on the City’s debt is located in Note 4 of the notes to basic financial statements. ECONOMIC FACTORS AND NEXT YEAR’S BUDGET The City considered many factors when setting the fiscal year 2011 budget, rates, and fees that will be charged in the business-type activities. The City Council decided to maintain the tax levy at the previous year’s tax levy as much as possible with maintaining services at previous levels, thus resulting in a tax levy increase of $29,037. The only service reduction was reduced warming house hours at the City’s outdoor ice skating rinks. Budgeted revenues for permits and charges for services were reduced to reflect less new development activity taking place in 2011. Budgeted sewer and water user fees were increased by 5 percent to be used to fund operational costs for their departments. Finally, the City will not use reserve funds from the debt service funds and from enterprise funds to balance the budget. The City’s property tax levy for 2011 will amount to $7,677,309, which is $29,037 more than 2010. REQUESTS FOR INFORMATION The City’s financial statements are designed to provide our citizens, customers, and creditors with a general overview of the City’s finances and to show the City’s accountability for the money it receives. If you have questions about this report or need additional financial information, contact the City of Monticello, Finance Department at 505 Walnut Street, Suite No. 1, Monticello, Minnesota 55362. Ec o n o m i c Co m m u n i t y C a p i t a l O u t l a y D e v e l o p m e n t S a n i t a r y Ge n e r a l C e n t e r R e v o l v i n g A u t h o r i t y S e w e r A c c e s s D e b t S e r v i c e C a p i t a l P r o j e c t s N o n m a j o r F u n d s T o t a l s As s e t s Ca s h a n d i n v e s t m e n t s 3 , 1 1 1 , 3 5 1 $ 1 , 1 7 5 , 8 8 3 $ 1 , 0 1 7 , 1 4 5 $ 3 , 9 2 9 , 7 4 7 $ 4 , 0 5 1 , 6 3 9 $ 2 , 8 5 9 , 0 8 3 $ 1 , 2 1 2 , 7 2 1 $ 8 , 5 5 7 , 4 8 9 $ 25,915,058$ Re c e i v a b l e s Cu r r e n t t a x e s 2 3 , 2 2 2 4 , 8 3 1 – 5 , 7 7 2 – 5 , 3 8 4 – 2 5 4 39,463 De l i n q u e n t t a x e s 2 8 6 , 5 3 7 6 5 , 3 4 0 – 6 8 , 3 6 8 – 4 8 , 5 6 0 – 1 2 , 7 4 2 481,547 Cu r r e n t s p e c i a l a s s e s s m e n t s 9 , 0 2 3 – – – – 1 , 3 1 1 , 3 4 6 – – 1,320,369 De f e r r e d s p e c i a l a s s e s s m e n t s – – – – – 1 1 , 9 3 0 , 9 7 8 – – 11,930,978 De l i n q u e n t s p e c i a l a s s e s s m e n t s 4 , 6 8 3 – – – – 1 , 2 9 6 , 0 2 1 – – 1,300,704 Ac c o u n t s 9 3 , 7 6 2 2 , 0 3 2 – – – 2 4 7 , 4 0 0 – 1 0 3 , 3 7 0 446,564 Ac c r u e d i n t e r e s t 4 1 , 7 2 8 4 , 1 9 2 5 , 5 5 3 2 6 , 2 3 8 2 9 , 7 3 6 1 1 , 9 2 0 ( 1 5 , 5 9 9 ) 5 5 , 8 6 8 159,636 Du e f r o m o t h e r f u n d s 2 , 6 4 4 , 0 3 1 1 5 1 – – – – – – 2,644,182 Du e f r o m o t h e r g o v e r n m e n t a l u n i t s 8 , 9 8 5 – – – – – – – 8,985 No t e s r e c e i v a b l e 2 1 6 , 2 9 0 – – 8 2 1 , 7 7 0 – 1 , 2 0 0 , 0 0 0 – 2 9 2 , 9 4 5 2,531,005 La n d h e l d f o r r e s a l e – – 1 , 2 7 4 , 0 8 8 2 , 7 3 2 , 9 6 6 – – – – 4,007,054 Pr e p a i d i t e m s 1 1 9 , 9 9 6 1 6 , 0 4 4 – – – – – 1 , 7 6 4 137,804 To t a l a s s e t s 6 , 5 5 9 , 6 0 8 $ 1 , 2 6 8 , 4 7 3 $ 2 , 2 9 6 , 7 8 6 $ 7 , 5 8 4 , 8 6 1 $ 4 , 0 8 1 , 3 7 5 $ 1 8 , 9 1 0 , 6 9 2 $ 1 , 1 9 7 , 1 2 2 $ 9 , 0 2 4 , 4 3 2 $ 50,923,349$ Li a b i l i t i e s a n d F u n d B a l a n c e s Li a b i l i t i e s Ac c o u n t s a n d c o n t r a c t s p a y a b l e 3 1 1 , 4 8 3 $ 3 0 , 0 6 8 $ – $ 1 5 7 , 1 7 8 $ – $ 1 , 0 0 0 $ 8 5 , 3 1 1 $ 4 , 2 8 8 $ 589,328$ Ot h e r a c c r u e d l i a b i l i t i e s 1 0 4 , 8 2 0 – – – – – – 3 2 5 , 0 0 0 429,820 Du e t o o t h e r f u n d s – – – – – – 2 , 6 4 4 , 0 3 1 1 5 1 2,644,182 Du e t o o t h e r g o v e r n m e n t a l u n i t s 9 , 9 1 9 4 , 9 9 4 – – – – – 9 3 , 8 1 1 108,724 De f e r r e d r e v e n u e 3 0 0 , 2 4 3 7 2 , 8 1 1 – 6 8 , 3 6 8 – 1 5 , 8 7 1 , 8 9 3 – 3 0 5 , 6 8 7 16,619,002 Es c r o w d e p o s i t s 8 5 2 , 1 0 9 4 , 7 5 0 – 1 7 , 5 0 0 – – – – 874,359 To t a l l i a b i l i t i e s 1 , 5 7 8 , 5 7 4 1 1 2 , 6 2 3 – 2 4 3 , 0 4 6 – 1 5 , 8 7 2 , 8 9 3 2 , 7 2 9 , 3 4 2 7 2 8 , 9 3 7 21,265,415 Fu n d b a l a n c e s Re s e r v e d No t e s r e c e i v a b l e 2 1 6 , 2 9 0 – – 8 2 1 , 7 7 0 – – – – 1,038,060 La n d h e l d f o r r e s a l e – – 1 , 2 7 4 , 0 8 8 2 , 7 3 2 , 9 6 6 – – – – 4,007,054 Pr e p a i d i t e m s 1 1 9 , 9 9 6 1 6 , 0 4 4 – – – – – 1 , 7 6 4 137,804 De b t r e t i r e m e n t – – – – – 3 , 0 3 7 , 7 9 9 – – 3,037,799 Un r e s e r v e d – d e s i g n a t e d 3 , 1 9 5 , 0 0 0 2 0 0 , 0 0 0 4 8 , 5 1 7 – – – – 1 , 3 3 0 , 5 2 0 4,774,037 Un r e s e r v e d – u n d e s i g n a t e d r e p o r t e d i n Ge n e r a l F u n d 1 , 4 4 9 , 7 4 8 – – – – – – – 1,449,748 Sp e c i a l r e v e n u e f u n d s – 9 3 9 , 8 0 6 9 7 4 , 1 8 1 3 , 7 8 7 , 0 7 9 4 , 0 8 1 , 3 7 5 # – – 6 , 9 6 3 , 2 1 1 16,745,652 Ca p i t a l P r o j e c t s F u n d – – – – – – ( 1 , 5 3 2 , 2 2 0 ) – (1,532,220) To t a l f u n d b a l a n c e s 4 , 9 8 1 , 0 3 4 1 , 1 5 5 , 8 5 0 2 , 2 9 6 , 7 8 6 7 , 3 4 1 , 8 1 5 4 , 0 8 1 , 3 7 5 3 , 0 3 7 , 7 9 9 ( 1 , 5 3 2 , 2 2 0 ) 8 , 2 9 5 , 4 9 5 29,657,934 To t a l l i a b i l i t i e s a n d f u n d b a l a n c e s 6 , 5 5 9 , 6 0 8 $ 1 , 2 6 8 , 4 7 3 $ 2 , 2 9 6 , 7 8 6 $ 7 , 5 8 4 , 8 6 1 $ 4 , 0 8 1 , 3 7 5 $ 1 8 , 9 1 0 , 6 9 2 $ 1 , 1 9 7 , 1 2 2 $ 9 , 0 2 4 , 4 3 2 $ 50,923,349$ Se e n o t e s t o b a s i c f i n a n c i a l s t a t e m e n t s CI T Y O F M O N T I C E L L O Sp e c i a l R e v e n u e F u n d s as o f D e c e m b e r 3 1 , 2 0 1 0 Go v e r n m e n t a l F u n d s Ba l a n c e S h e e t 1 4 a n d 1 5 Ec o n o m i c Co m m u n i t y C a p i t a l O u t l a y D e v e l o p m e n t S a n i t a r y Ge n e r a l C e n t e r R e v o l v i n g A u t h o r i t y S e w e r A c c e s s D e b t S e r v i c e C a p i t a l P r o j e c t s N o n m a j o r F u n d s T o t a l s Re v e n u e Pr o p e r t y t a x e s 5 , 0 4 5 , 9 3 6 $ 1 , 0 4 9 , 6 5 9 $ – $ – $ – $ 1 , 1 6 9 , 5 0 1 $ – $ 5 4 , 0 5 8 $ 7,319,154$ Ta x i n c r e m e n t s – – – 1 , 1 5 5 , 3 8 6 – – – – 1,155,386 Sp e c i a l a s s e s s m e n t s 5 , 1 1 6 – – – ( 1 0 1 ) 1 , 4 6 0 , 2 4 9 – – 1,465,264 Fr a n c h i s e t a x e s – – 7 3 , 6 7 4 – – – – 2 9 7 , 5 8 4 371,258 Li c e n s e s a n d p e r m i t s 2 1 7 , 1 8 4 – – – – – – – 217,184 In t e r g o v e r n m e n t a l 3 3 2 , 0 2 7 6 1 , 2 7 4 2 4 4 , 4 5 7 9 , 8 1 8 – 6 5 , 3 1 1 4 2 5 , 7 6 2 4 8 2 , 1 2 2 1,620,771 Ch a r g e s f o r s e r v i c e s 1 , 3 4 0 , 3 0 7 1 , 1 1 9 , 5 8 2 – – 6 1 , 6 3 0 – 2 0 , 0 0 0 3 4 8 , 4 8 7 2,890,006 Fi n e s 2 0 5 – – – – – – – 205 In v e s t m e n t e a r n i n g s ( c h a r g e s ) 2 1 2 , 3 2 8 1 5 , 8 5 9 2 6 , 9 4 8 1 6 0 , 7 9 6 1 4 5 , 4 8 9 8 6 , 2 2 8 ( 7 6 , 6 9 9 ) 2 8 8 , 6 3 4 859,583 Mi s c e l l a n e o u s 1 5 6 , 4 0 6 3 1 , 5 0 7 – 5 0 , 6 4 0 – 3 9 9 , 3 7 6 – 5 , 9 4 4 643,873 To t a l r e v e n u e 7 , 3 0 9 , 5 0 9 2 , 2 7 7 , 8 8 1 3 4 5 , 0 7 9 1 , 3 7 6 , 6 4 0 2 0 7 , 0 1 8 3 , 1 8 0 , 6 6 5 3 6 9 , 0 6 3 1 , 4 7 6 , 8 2 9 16,542,684 Ex p e n d i t u r e s Cu r r e n t Ge n e r a l g o v e r n m e n t 1 , 7 0 4 , 9 9 2 – – – – 1 7 , 7 7 8 – 2 7 4 , 6 8 8 1,997,458 Pu b l i c s a f e t y 1 , 6 8 4 , 2 9 6 – – – – – – – 1,684,296 Pu b l i c w o r k s 1 , 5 6 1 , 4 5 6 – – – – – – 6 9 9 1,562,155 Sa n i t a t i o n 5 3 4 , 9 0 3 – – – – – – – 534,903 Cu l t u r e a n d r e c r e a t i o n 6 1 8 , 2 8 0 1 , 4 6 5 , 7 5 0 – – – – – 8 0 , 5 0 4 2,164,534 Ec o n o m i c d e v e l o p m e n t 6 0 , 2 5 2 – 1 , 5 5 5 , 1 1 4 8 2 7 , 9 4 5 – – – 2 0 4 , 3 7 6 2,647,687 Ca p i t a l o u t l a y Pu b l i c w o r k s 1 0 2 , 9 2 9 – – – – – 3 , 1 7 4 , 5 4 1 ( 6 , 0 6 7 ) 3,271,403 Cu l t u r e a n d r e c r e a t i o n – – 3 0 3 , 0 7 8 – – – – 5 6 3 , 9 7 8 867,056 De b t s e r v i c e Pr i n c i p a l – – – – – 5 , 0 0 1 , 0 0 0 – – 5,001,000 In t e r e s t a n d f i s c a l c h a r g e s – – – – – 1 , 5 2 2 , 7 8 0 3 0 , 8 8 1 – 1,553,661 To t a l e x p e n d i t u r e s 6 , 2 6 7 , 1 0 8 1 , 4 6 5 , 7 5 0 1 , 8 5 8 , 1 9 2 8 2 7 , 9 4 5 – 6 , 5 4 1 , 5 5 8 3 , 2 0 5 , 4 2 2 1 , 1 1 8 , 1 7 8 21,284,153 Ex c e s s ( d e f i c i e n c y ) o f r e v e n u e s o v e r e x p e n d i t u r e s 1 , 0 4 2 , 4 0 1 8 1 2 , 1 3 1 ( 1 , 5 1 3 , 1 1 3 ) 5 4 8 , 6 9 5 2 0 7 , 0 1 8 ( 3 , 3 6 0 , 8 9 3 ) ( 2 , 8 3 6 , 3 5 9 ) 3 5 8 , 6 5 1 (4,741,469) Ot h e r f i n a n c i n g s o u r c e s ( u s e s ) Tr a n s f e r s i n 4 5 , 0 0 0 2 0 0 , 0 0 0 – 5 , 3 0 1 – 3 , 1 6 6 , 8 2 5 7 0 0 , 0 0 0 5 7 0 , 0 0 0 4,687,126 Tr a n s f e r s ( o u t ) ( 1 , 2 0 4 , 0 0 0 ) ( 8 1 5 , 0 3 2 ) ( 4 5 , 0 0 0 ) ( 6 7 3 , 4 5 6 ) ( 1 , 1 1 2 , 9 9 6 ) ( 5 , 3 0 1 ) – ( 5 7 5 , 3 7 3 ) (4,431,158) De b t i s s u e d – – – – – – 2 , 7 4 5 , 0 0 0 – 2,745,000 Re f u n d i n g b o n d s i s s u e d – – – – – 5 1 0 , 0 0 0 – – 510,000 (D i s c o u n t ) o n d e b t i s s u e d – – – – – ( 3 , 0 6 0 ) ( 1 6 , 4 7 0 ) – (19,530) Re f u n d e d b o n d s r e d e e m e d – – – – – ( 8 6 5 , 0 0 0 ) – – (865,000) Pr o c e e d s f r o m s a l e o f a s s e t s – – – 6 7 , 5 6 9 – – – – 67,569 To t a l o t h e r f i n a n c i n g s o u r c e s ( u s e s ) ( 1 , 1 5 9 , 0 0 0 ) ( 6 1 5 , 0 3 2 ) ( 4 5 , 0 0 0 ) ( 6 0 0 , 5 8 6 ) ( 1 , 1 1 2 , 9 9 6 ) 2 , 8 0 3 , 4 6 4 3 , 4 2 8 , 5 3 0 ( 5 , 3 7 3 ) 2,694,007 Ne t c h a n g e i n f u n d b a l a n c e s ( 1 1 6 , 5 9 9 ) 1 9 7 , 0 9 9 ( 1 , 5 5 8 , 1 1 3 ) ( 5 1 , 8 9 1 ) ( 9 0 5 , 9 7 8 ) ( 5 5 7 , 4 2 9 ) 5 9 2 , 1 7 1 3 5 3 , 2 7 8 (2,047,462) Fu n d b a l a n c e s ( d e f i c i t ) Be g i n n i n g o f y e a r 5 , 0 9 7 , 6 3 3 9 5 8 , 7 5 1 3 , 8 5 4 , 8 9 9 7 , 3 9 3 , 7 0 6 4 , 9 8 7 , 3 5 3 3 , 5 9 5 , 2 2 8 ( 2 , 1 2 4 , 3 9 1 ) 7 , 9 4 2 , 2 1 7 31,705,396 En d o f y e a r 4 , 9 8 1 , 0 3 4 $ 1 , 1 5 5 , 8 5 0 $ 2 , 2 9 6 , 7 8 6 $ 7 , 3 4 1 , 8 1 5 $ 4 , 0 8 1 , 3 7 5 $ 3 , 0 3 7 , 7 9 9 $ ( 1 , 5 3 2 , 2 2 0 ) $ 8 , 2 9 5 , 4 9 5 $ 29,657,934$ Se e n o t e s t o b a s i c f i n a n c i a l s t a t e m e n t s Sp e c i a l R e v e n u e F u n d s Ye a r E n d e d D e c e m b e r 3 1 , 2 0 1 0 Go v e r n m e n t a l F u n d s St a t e m e n t o f R e v e n u e , E x p e n d i t u r e s , a n d C h a n g e s i n F u n d B a l a n c e s CI T Y O F M O N T I C E L L O 1 7 a n d 1 8 Pa r k Street Or d e r l y S t o r m S e w e r M i n n e s o t a P a t h w a y C i t y S t r e e t D e p u t y G r a n t C D B G – B e r t r a m L i g h t i n g Sh a d e T r e e A n n e x a t i o n L i b r a r y W a t e r A c c e s s A c c e s s I n v e s t m e n t D e d i c a t i o n R e c o n s t r u c t i o n R e g i s t r a r F u n d i n g R e v i t a l i z a t i o n C h a i n o f L a k e s I m p r ovementTotals As s e t s Ca s h a n d i n v e s t m e n t s 6 8 , 2 8 0 $ 6 , 7 9 3 $ 1 1 , 3 8 7 $ 5 3 3 , 3 2 8 $ 2 , 0 9 8 , 8 9 3 $ 9 4 6 , 0 4 9 $ 7 6 7 , 3 2 2 $ 2 , 9 8 1 , 3 4 6 $ 2 9 3 , 9 3 2 $ 2 6 1 $ 5 9 1 $ 2 $ 849,305$ 8,557,489$ Re c e i v a b l e s Cu r r e n t t a x e s 1 3 3 – 8 7 – – – – 3 4 – – – – – 254 De l i n q u e n t t a x e s 1 , 7 2 1 – 1 , 4 5 0 – – – – 9 , 5 7 1 – – – – – 12,742 Ac c o u n t s 1 , 2 7 7 – – – – – – – 2 6 , 8 9 4 – – – 75,199 103,370 Ac c r u e d i n t e r e s t 3 9 6 5 4 4 3 4 , 0 4 3 1 4 , 5 6 6 6 , 8 5 8 3 , 8 6 5 1 9 , 4 4 9 1 , 3 3 7 4 2 4 1 1 5,173 55,868 No t e s r e c e i v a b l e – – – – – – – – – – 2 9 2 , 9 4 5 – – 292,945 Pr e p a i d i t e m s – – 1 4 1 – – – – – 1 , 6 2 3 – – – – 1,764 To t a l a s s e t s 71 , 8 0 7 $ 6 , 8 4 7 $ 1 3 , 1 0 8 $ 5 3 7 , 3 7 1 $ 2 , 1 1 3 , 4 5 9 $ 9 5 2 , 9 0 7 $ 7 7 1 , 1 8 7 $ 3 , 0 1 0 , 4 0 0 $ 3 2 3 , 7 8 6 $ 3 0 3 $ 2 9 3 , 5 7 7 $ 3 $ 929,677$ 9,024,432$ Li a b i l i t i e s a n d F u n d B a l a n c e s Li a b i l i t i e s Ac c o u n t s a n d c o n t r a c t s p a y a b l e – $ – $ 2 , 5 4 5 $ – $ – $ – $ – $ – $ 1 , 7 4 3 $ – $ – $ – $ –$ 4,288$ Ot h e r a c c r u e d l i a b i l i t i e s – – – – – – 3 2 5 , 0 0 0 – – – – – – 325,000 D u e t o o t h e r f u n d s – – – – – – – – – – – 1 5 1 – 151 Du e t o o t h e r g o v e r n m e n t a l u n i t s – – 1 3 – – – – – 9 3 , 7 9 8 – – – – 93,811 De f e r r e d r e v e n u e 1 , 7 2 1 – 1 , 4 5 0 – – – – 9 , 5 7 2 – – 2 9 2 , 9 4 4 – – 305,687 To t a l l i a b i l i t i e s 1 , 7 2 1 – 4 , 0 0 8 – – – 3 2 5 , 0 0 0 9 , 5 7 2 9 5 , 5 4 1 – 2 9 2 , 9 4 4 1 5 1 – 728,937 Fu n d b a l a n c e s Re s e r v e d f o r p r e p a i d i t e m s – – 1 4 1 – – – – – 1 , 6 2 3 – – – – 1,764 Un r e s e r v e d – d e s i g n a t e d – – – – – – – 1 , 3 3 0 , 5 2 0 – – – – – 1,330,520 Un r e s e r v e d – u n d e s i g n a t e d 7 0 , 0 8 6 6 , 8 4 7 8 , 9 5 9 5 3 7 , 3 7 1 2 , 1 1 3 , 4 5 9 9 5 2 , 9 0 7 4 4 6 , 1 8 7 1 , 6 7 0 , 3 0 8 2 2 6 , 6 2 2 3 0 3 6 3 3 ( 1 4 8 ) 929,677 6,963,211 To t a l f u n d b a l a n c e s 7 0 , 0 8 6 6 , 8 4 7 9 , 1 0 0 5 3 7 , 3 7 1 2 , 1 1 3 , 4 5 9 9 5 2 , 9 0 7 4 4 6 , 1 8 7 3 , 0 0 0 , 8 2 8 2 2 8 , 2 4 5 3 0 3 6 3 3 ( 1 4 8 ) 929,677 8,295,495 To t a l l i a b i l i t i e s a n d f u n d b a l a n c e s 71 , 8 0 7 $ 6 , 8 4 7 $ 1 3 , 1 0 8 $ 5 3 7 , 3 7 1 $ 2 , 1 1 3 , 4 5 9 $ 9 5 2 , 9 0 7 $ 7 7 1 , 1 8 7 $ 3 , 0 1 0 , 4 0 0 $ 3 2 3 , 7 8 6 $ 3 0 3 $ 2 9 3 , 5 7 7 $ 3 $ 929,677$ 9,024,432$ Sp e c i a l R e v e n u e F u n d s as o f D e c e m b e r 3 1 , 2 0 1 0 Co m b i n i n g B a l a n c e S h e e t No n m a j o r G o v e r n m e n t a l F u n d s CI T Y O F M O N T I C E L L O 5 7 a n d 5 8 Pa r k Street Or d e r l y S t o r m S e w e r M i n n e s o t a P a t h w a y C i t y S t r e e t D e p u t y G r a n t C D B G – B e r t r a m L i g h t i n g Sh a d e T r e e A n n e x a t i o n L i b r a r y W a t e r A c c e s s A c c e s s I n v e s t m e n t D e d i c a t i o n R e c o n s t r u c t i o n R e g i s t r a r F u n d i n g R e v i t a l i z a t i o n C h a i n o f L a k e s I m p r ovementTotals Re v e n u e Pr o p e r t y t a x e s 2 8 , 8 5 3 $ 2 0 $ 1 8 , 8 7 5 $ – $ – $ – $ – $ 6 , 3 1 0 $ – $ – $ – $ – $ –$ 54,058$ Fr a n c h i s e t a x e s – – – – – – – – – – – – 297,584 297,584 In t e r g o v e r n m e n t a l 1 , 7 3 8 – 1 , 3 0 4 – – – 2 7 4 , 7 9 4 – – – 2 0 4 , 2 8 6 – – 482,122 Ch a r g e s f o r s e r v i c e s 2 , 2 3 0 – 6 0 8 , 2 9 2 7 , 1 6 9 – – 3 3 3 0 , 7 3 3 – – – – 348,487 Ot h e r In v e s t m e n t e a r n i n g s ( c h a r g e s ) 2 , 0 2 2 2 5 7 2 2 5 1 9 , 5 9 7 7 4 , 3 4 0 3 3 , 9 1 1 1 9 , 5 4 7 1 0 3 , 3 3 9 6 , 8 1 3 3 0 3 2 5 6 9 28,015 288,634 Mi s c e l l a n e o u s 9 7 – 2 , 6 0 5 – – – – – – – – 3 , 2 4 2 – 5,944 To t a l r e v e n u e 3 4 , 9 4 0 2 7 7 2 3 , 0 6 9 2 7 , 8 8 9 8 1 , 5 0 9 3 3 , 9 1 1 2 9 4 , 3 4 1 1 0 9 , 6 5 2 3 3 7 , 5 4 6 3 0 3 2 0 4 , 5 4 2 3 , 2 5 1 325,599 1,476,829 Ex p e n d i t u r e s Cu r r e n t Ge n e r a l g o v e r n m e n t – 7 1 7 – – – – – – 2 7 3 , 9 7 1 – – – – 274,688 Pu b l i c w o r k s – – – 1 0 0 5 9 9 – – – – – – – – 699 Cu l t u r e a n d r e c r e a t i o n 3 4 , 4 6 0 – 3 7 , 5 7 8 – – – 5 , 0 2 2 – – – – 3 , 4 4 4 – 80,504 Ec o n o m i c d e v e l o p m e n t – – – – – – – – – – 2 0 4 , 3 7 6 – – 204,376 Ca p i t a l o u t l a y Pu b l i c w o r k s – – – – ( 6 , 0 6 7 ) – – – – – – – – (6,067) Ec o n o m i c d e v e l o p m e n t – – – – – – 5 6 3 , 9 7 8 – – – – – – 563,978 To t a l e x p e n d i t u r e s 3 4 , 4 6 0 7 1 7 3 7 , 5 7 8 1 0 0 ( 5 , 4 6 8 ) – 5 6 9 , 0 0 0 – 2 7 3 , 9 7 1 – 2 0 4 , 3 7 6 3 , 4 4 4 – 1,118,178 Ex c e s s ( d e f i c i e n c y ) o f r e v e n u e o v e r e x p e n d i t u r e s 4 8 0 ( 4 4 0 ) ( 1 4 , 5 0 9 ) 2 7 , 7 8 9 8 6 , 9 7 7 3 3 , 9 1 1 ( 2 7 4 , 6 5 9 ) 1 0 9 , 6 5 2 6 3 , 5 7 5 3 0 3 1 6 6 ( 1 9 3 ) 325,599 358,651 Ot h e r f i n a n c i n g s o u r c e s ( u s e s ) Tr a n s f e r s i n – – 2 0 , 0 0 0 – – – 3 0 0 , 0 0 0 2 5 0 , 0 0 0 – – – – – 570,000 Tr a n s f e r s ( o u t ) – – – ( 3 1 0 , 7 7 4 ) ( 2 6 4 , 5 9 9 ) – – – – – – – – (575,373) To t a l o t h e r f i n a n c i n g s o u r c e s ( u s e s ) – – 2 0 , 0 0 0 ( 3 1 0 , 7 7 4 ) ( 2 6 4 , 5 9 9 ) – 3 0 0 , 0 0 0 2 5 0 , 0 0 0 – – – – – (5,373) Ch a n g e i n f u n d b a l a n c e s 4 8 0 ( 4 4 0 ) 5 , 4 9 1 ( 2 8 2 , 9 8 5 ) ( 1 7 7 , 6 2 2 ) 3 3 , 9 1 1 2 5 , 3 4 1 3 5 9 , 6 5 2 6 3 , 5 7 5 3 0 3 1 6 6 ( 1 9 3 ) 325,599 353,278 Fu n d b a l a n c e s ( d e f i c i t ) Be g i n n i n g o f y e a r 6 9 , 6 0 6 7 , 2 8 7 3 , 6 0 9 8 2 0 , 3 5 6 2 , 2 9 1 , 0 8 1 9 1 8 , 9 9 6 4 2 0 , 8 4 6 2 , 6 4 1 , 1 7 6 1 6 4 , 6 7 0 – 4 6 7 4 5 604,078 7,942,217 En d o f y e a r 70 , 0 8 6 $ 6 , 8 4 7 $ 9 , 1 0 0 $ 5 3 7 , 3 7 1 $ 2 , 1 1 3 , 4 5 9 $ 9 5 2 , 9 0 7 $ 4 4 6 , 1 8 7 $ 3 , 0 0 0 , 8 2 8 $ 2 2 8 , 2 4 5 $ 3 0 3 $ 6 3 3 $ ( 1 4 8 ) $ 929,677$ 8,295,495$ Sp e c i a l R e v e n u e F u n d s Ye a r E n d e d D e c e m b e r 3 1 , 2 0 1 0 Co m b i n i n g S t a t e m e n t o f R e v e n u e , E x p e n d i t u r e s , a n d C h a n g e s i n F u n d B a l a n c e s No n m a j o r G o v e r n m e n t a l F u n d s CI T Y O F M O N T I C E L L O 5 9 a n d 6 0 STATISTICAL SECTION (UNAUDITED) 20 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Go v e r n m e n t a l a c t i v i t i e s In v e s t e d i n c a p i t a l a s s e t s , n e t o f r e l a t e d d e b t 8, 9 7 2 , 4 9 7 $ 7 , 0 0 9 , 6 2 2 $ 7 , 0 0 9 , 6 2 2 $ 1 2 , 4 7 6 , 5 3 6 $ 2 7 , 5 8 4 , 7 6 3 $ 3 3 , 7 1 2 , 3 7 0 $ 3 1 , 9 0 1 , 6 7 6 $ Re s t r i c t e d – – – 3 1 , 5 1 7 , 7 9 2 2 2 , 0 7 4 , 4 2 7 1 7 , 6 8 8 , 1 9 3 1 8 , 3 3 7 , 8 6 6 Un r e s t r i c t e d 3 6 , 4 1 3 , 2 8 6 4 5 , 1 3 6 , 4 6 0 5 6 , 9 4 9 , 7 4 9 2 4 , 5 4 3 , 5 0 1 2 8 , 4 4 5 , 2 3 0 2 8 , 1 8 3 , 1 6 1 2 6 , 8 7 6 , 4 2 1 To t a l g o v e r n m e n t a l a c t i v i t i e s n e t a s s e t s 45 , 3 8 5 , 7 8 3 $ 5 2 , 1 4 6 , 0 8 2 $ 6 3 , 9 5 9 , 3 7 1 $ 6 8 , 5 3 7 , 8 2 9 $ 7 8 , 1 0 4 , 4 2 0 $ 7 9 , 5 8 3 , 7 2 4 $ 7 7 , 1 1 5 , 9 6 3 $ Bu s i n e s s - t y p e a c t i v i t i e s In v e s t e d i n c a p i t a l a s s e t s , n e t o f r e l a t e d d e b t 32 , 3 5 5 , 0 8 6 $ 3 5 , 0 7 7 , 3 9 1 $ 3 5 , 7 4 9 , 3 8 0 $ 3 3 , 9 7 1 , 1 5 1 $ 3 1 , 3 7 5 , 8 9 0 $ 2 9 , 9 1 0 , 6 9 6 $ 2 8 , 5 5 6 , 3 5 5 $ Re s t r i c t e d – – – – 1 9 , 3 5 0 1 9 , 3 5 0 1 9 , 3 5 0 Un r e s t r i c t e d 4 , 2 5 6 , 8 4 6 4 , 7 4 0 , 4 9 1 5 , 4 3 7 , 8 6 7 6 , 4 4 1 , 4 7 0 4 , 5 2 9 , 8 3 0 2 , 8 4 6 , 0 1 8 6 , 3 6 3 , 1 4 8 To t a l b u s i n e s s - t y p e a c t i v i t i e s n e t a s s e t s 36 , 6 1 1 , 9 3 2 $ 3 9 , 8 1 7 , 8 8 2 $ 4 1 , 1 8 7 , 2 4 7 $ 4 0 , 4 1 2 , 6 2 1 $ 3 5 , 9 2 5 , 0 7 0 $ 3 2 , 7 7 6 , 0 6 4 $ 3 4 , 9 3 8 , 8 5 3 $ Pr i m a r y g o v e r n m e n t In v e s t e d i n c a p i t a l a s s e t s , n e t o f r e l a t e d d e b t 41 , 3 2 7 , 5 8 3 $ 4 2 , 0 8 7 , 0 1 3 $ 4 2 , 7 5 9 , 0 0 2 $ 4 6 , 4 4 7 , 6 8 7 $ 5 8 , 9 6 0 , 6 5 3 $ 6 3 , 6 2 3 , 0 6 6 $ 6 0 , 4 5 8 , 0 3 1 $ Re s t r i c t e d – – – 3 1 , 5 1 7 , 7 9 2 2 2 , 0 9 3 , 7 7 7 1 7 , 7 0 7 , 5 4 3 1 8 , 3 5 7 , 2 1 6 Un r e s t r i c t e d 4 0 , 6 7 0 , 1 3 2 4 9 , 8 7 6 , 9 5 1 6 2 , 3 8 7 , 6 1 6 3 0 , 9 8 4 , 9 7 1 3 2 , 9 7 5 , 0 6 0 3 1 , 0 2 9 , 1 7 9 3 3 , 2 3 9 , 5 6 9 To t a l p r i m a r y g o v e r n m e n t n e t a s s e t s 81 , 9 9 7 , 7 1 5 $ 9 1 , 9 6 3 , 9 6 4 $ 1 0 5 , 1 4 6 , 6 1 8 $ 1 0 8 , 9 5 0 , 4 5 0 $ 1 1 4 , 0 2 9 , 4 9 0 $ 1 1 2 , 3 5 9 , 7 8 8 $ 1 1 2 , 0 5 4 , 8 1 6 $ No t e : T h e C i t y i m p l e m e n t e d G A S B S t a t e m e n t N o . 3 4 i n f i s c a l 2 0 0 4 . T h i s i n f o r m a t i o n i s n o t a v a i l a b l e f o r p r e v i o u s y e a r s . CI T Y O F M O N T I C E L L O Fi s c a l Y e a r (A c c r u a l B a s i s o f A c c o u n t i n g ) La s t S e v e n F i s c a l Y e a r s Ne t A s s e t s b y C o m p o n e n t 6 2 a n d 6 3 20 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Ex p e n s e s Go v e r n m e n t a l a c t i v i t i e s Ge n e r a l g o v e r n m e n t 1 , 5 2 8 , 2 8 1 $ 1 , 9 0 7 , 3 5 2 $ 3 , 6 3 9 , 4 9 7 $ 1 , 8 4 4 , 3 2 0 $ 1 , 5 7 2 , 3 8 9 $ 1 , 7 8 0 , 9 7 2 $ 2,065,463$ Pu b l i c s a f e t y 1 , 6 4 9 , 0 9 0 1 , 5 5 1 , 0 9 8 2 , 8 5 6 , 5 7 3 1 , 6 9 3 , 1 1 6 1 , 7 9 2 , 3 5 1 2 , 8 4 9 , 2 7 2 1,766,712 Pu b l i c w o r k s 4 3 8 , 4 1 3 5 , 9 9 0 , 7 1 9 5 , 3 1 8 , 8 6 5 4 , 5 5 9 , 4 6 0 4 , 6 3 4 , 1 6 7 3 , 8 2 7 , 5 0 1 3,579,291 Sa n i t a t i o n 2 , 7 9 8 , 8 8 3 4 9 2 , 4 4 6 4 7 4 , 0 4 5 5 0 9 , 2 0 8 5 1 4 , 2 0 8 5 4 7 , 1 6 0 534,903 Cu l t u r e a n d r e c r e a t i o n 4 1 0 , 7 6 8 2 , 2 1 0 , 7 2 9 2 , 6 9 4 , 9 7 0 2 , 6 6 1 , 9 1 5 2 , 7 0 0 , 6 8 3 2 , 8 2 8 , 1 5 2 2,609,429 Ec o n o m i c d e v e l o p m e n t 9 6 9 , 2 2 9 6 5 7 , 2 5 8 2 , 0 6 1 , 3 3 1 7 6 9 , 5 8 4 5 1 0 , 1 2 6 8 4 2 , 8 1 9 2,647,687 In t e r e s t a n d f i s c a l c h a r g e s 1 , 4 1 4 , 7 3 7 1 , 7 3 3 , 9 3 3 2 , 3 7 8 , 8 7 1 2 , 1 9 3 , 8 4 0 2 , 1 3 6 , 8 7 2 1 , 6 7 3 , 4 3 1 1,464,012 To t a l g o v e r n m e n t a l a c t i v i t i e s e x p e n s e s 9 , 2 0 9 , 4 0 1 1 4 , 5 4 3 , 5 3 5 1 9 , 4 2 4 , 1 5 2 1 4 , 2 3 1 , 4 4 3 1 3 , 8 6 0 , 7 9 6 1 4 , 3 4 9 , 3 0 7 14,667,497 Bu s i n e s s - t y p e a c t i v i t i e s Wa t e r 8 6 5 , 3 7 9 9 3 9 , 4 4 9 9 1 3 , 6 3 8 9 7 3 , 3 7 5 9 7 5 , 8 4 6 1 , 0 1 8 , 0 9 8 936,718 Se w e r 2 , 0 8 3 , 8 4 1 2 , 0 1 7 , 9 9 3 2 , 0 9 5 , 1 2 4 2 , 0 0 0 , 6 1 0 2 , 0 8 5 , 4 8 5 2 , 0 7 4 , 4 4 7 2,495,976 Li q u o r 3 , 0 8 3 , 0 6 2 3 , 1 7 2 , 7 4 1 3 , 2 8 5 , 0 8 2 6 4 4 , 8 5 7 6 2 0 , 7 4 3 6 6 9 , 9 4 0 637,574 Ce m e t e r y 3 2 , 2 7 5 3 3 , 7 1 7 7 1 , 0 4 4 4 1 , 3 1 2 2 9 , 2 6 7 2 7 , 5 3 0 26,659 Fi b e r o p t i c s – – – 8 4 , 5 9 4 1 , 5 9 0 , 2 3 7 2 , 7 9 2 , 8 1 3 3,815,377 To t a l b u s i n e s s - t y p e a c t i v i t i e s e x p e n s e s 6 , 0 6 4 , 5 5 7 6 , 1 6 3 , 9 0 0 6 , 3 6 4 , 8 8 8 3 , 7 4 4 , 7 4 8 5 , 3 0 1 , 5 7 8 6 , 5 8 2 , 8 2 8 7,912,304 To t a l p r i m a r y g o v e r n m e n t e x p e n s e s 15 , 2 7 3 , 9 5 8 $ 2 0 , 7 0 7 , 4 3 5 $ 2 5 , 7 8 9 , 0 4 0 $ 1 7 , 9 7 6 , 1 9 1 $ 1 9 , 1 6 2 , 3 7 4 $ 2 0 , 9 3 2 , 1 3 5 $ 22,579,801$ Fi s c a l Y e a r (A c c r u a l B a s i s o f A c c o u n t i n g ) La s t S e v e n F i s c a l Y e a r s Ch a n g e s i n N e t A s s e t s CI T Y O F M O N T I C E L L O 6 4 a n d 6 5 Pr o g r a m r e v e n u e s Go v e r n m e n t a c t i v i t i e s Ch a r g e s f o r s e r v i c e s Ge n e r a l g o v e r n m e n t 6 2 9 , 9 4 2 $ 6 8 3 , 5 9 9 $ 9 7 4 , 1 8 6 $ 6 9 5 , 1 1 7 $ 5 2 3 , 2 2 8 $ 4 4 3 , 9 7 6 $ 491,304$ Pu b l i c s a f e t y 8 8 9 , 0 4 1 9 1 2 , 3 0 0 1 , 0 3 0 , 8 4 2 9 3 , 1 3 8 9 9 , 8 1 2 1 5 5 , 0 3 6 96,293 Pu b l i c w o r k s 2 , 0 8 5 , 4 7 8 2 , 6 9 2 , 3 3 6 1 , 1 8 6 , 6 7 0 1 , 9 9 4 , 0 6 7 1 , 5 4 4 , 1 4 0 7 4 4 , 2 4 1 1,556,098 Sa n i t a t i o n 9 8 , 6 0 2 8 6 3 , 8 5 7 1 2 9 , 0 5 7 – – 1 6 7 , 1 1 9 165,387 Cu l t u r e a n d r e c r e a t i o n 7 5 6 , 3 5 9 1 2 6 , 4 1 8 1 , 0 1 9 , 2 8 6 1 , 0 1 5 , 8 6 9 1 , 0 6 0 , 1 4 7 1 , 1 1 9 , 2 0 4 1,144,493 Ec o n o m i c d e v e l o p m e n t – 1 4 6 , 7 1 5 1 1 5 , 6 1 6 6 , 7 6 8 1 5 , 8 7 5 1 5 5 , 7 6 9 – Op e r a t i n g g r a n t s a n d c o n t r i b u t i o n s 3 3 7 , 6 8 8 3 8 1 , 4 2 0 2 8 1 , 5 3 1 1 6 0 , 1 4 7 1 5 9 , 1 9 2 2 6 9 , 4 9 2 424,845 Ca p i t a l g r a n t s a n d c o n t r i b u t i o n s 4 , 0 5 9 , 0 3 4 2 , 1 3 5 , 6 8 7 1 2 , 1 5 3 , 1 8 5 3 , 6 1 6 , 8 7 0 9 4 8 , 3 4 0 2 , 0 6 7 , 5 0 9 4,124,271 To t a l g o v e r n m e n t a l a c t i v i t i e s p r o g r a m r e v e n u e s 8 , 8 5 6 , 1 4 4 7 , 9 4 2 , 3 3 2 1 6 , 8 9 0 , 3 7 3 7 , 5 8 1 , 9 7 6 4 , 3 5 0 , 7 3 4 5 , 1 2 2 , 3 4 6 8,002,691 Bu s i n e s s - t y p e a c t i v i t i e s Ch a r g e s f o r s e r v i c e s Wa t e r 5 8 5 , 6 9 9 7 0 1 , 3 4 6 7 4 2 , 1 4 6 8 6 7 , 8 7 3 9 7 3 , 7 7 6 1 , 0 1 9 , 3 9 0 828,635 Se w e r 9 1 8 , 3 0 9 9 6 9 , 9 9 6 1 , 0 4 3 , 2 0 8 1 , 1 9 6 , 9 8 3 1 , 3 0 7 , 0 6 4 1 , 3 7 1 , 7 7 6 1,470,537 Li q u o r 3 , 4 1 2 , 8 0 9 3 , 5 4 0 , 5 7 2 3 , 6 1 9 , 2 3 6 1 , 0 0 2 , 9 3 3 1 , 0 5 9 , 4 7 9 1 , 0 4 3 , 2 5 6 1,174,767 Ce m e t e r y 3 2 , 1 4 1 3 2 , 8 3 4 2 9 , 2 6 5 2 8 , 8 3 0 2 4 , 4 7 5 1 9 , 9 9 5 8,620 Ca p i t a l g r a n t s a n d c o n t r i b u t i o n s 1 , 3 0 3 , 5 2 7 4 , 3 1 0 , 6 9 1 2 , 1 8 8 , 6 7 5 4 8 2 , 4 1 2 1 0 6 , 7 8 7 – 456,820 To t a l b u s i n e s s - t y p e a c t i v i t i e s p r o g r a m r e v e n u e s 6 , 2 5 2 , 4 8 5 9 , 5 5 5 , 4 3 9 7 , 6 2 2 , 5 3 0 3 , 5 7 9 , 0 3 1 3 , 4 7 1 , 5 8 1 3 , 4 5 4 , 4 1 7 3,939,379 To t a l p r i m a r y g o v e r n m e n t p r o g r a m r e v e n u e s 15 , 1 0 8 , 6 2 9 $ 1 7 , 4 9 7 , 7 7 1 $ 2 4 , 5 1 2 , 9 0 3 $ 1 1 , 1 6 1 , 0 0 7 $ 7 , 8 2 2 , 3 1 5 $ 8 , 5 7 6 , 7 6 3 $ 11,942,070$ (continued) 6 4 a n d 6 5 20 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Ne t ( e x p e n s e ) r e v e n u e Go v e r n m e n t a l a c t i v i t i e s ( 3 5 3 , 2 5 7 ) $ ( 6 , 6 0 1 , 2 0 3 ) $ ( 2 , 5 3 3 , 7 7 9 ) $ ( 6 , 6 4 9 , 4 6 7 ) $ ( 9 , 5 1 0 , 0 6 2 ) $ ( 9 , 2 2 6 , 9 6 1 ) $ (6,664,806)$ Bu s i n e s s - t y p e a c t i v i t i e s 1 8 7 , 9 2 8 3 , 3 9 1 , 5 3 9 1 , 2 5 7 , 6 4 2 ( 1 6 5 , 7 1 7 ) ( 1 , 8 2 9 , 9 9 7 ) ( 3 , 1 2 8 , 4 1 1 ) (3,972,925) To t a l p r i m a r y g o v e r n m e n t n e t e x p e n s e (1 6 5 , 3 2 9 ) $ ( 3 , 2 0 9 , 6 6 4 ) $ ( 1 , 2 7 6 , 1 3 7 ) $ ( 6 , 8 1 5 , 1 8 4 ) $ ( 1 1 , 3 4 0 , 0 5 9 ) $ ( 1 2 , 3 5 5 , 3 7 2 ) $ (10,637,731)$ Ge n e r a l r e v e n u e s a n d o t h e r c h a n g e s i n n e t a s s e t s Go v e r n m e n t a l a c t i v i t i e s Pr o p e r t y t a x e s 7 , 6 7 0 , 6 6 6 $ 7 , 4 7 6 , 1 0 6 $ 7 , 2 5 3 , 5 6 0 $ 7 , 2 4 2 , 8 3 8 $ 8 , 4 5 0 , 5 9 9 $ 8 , 8 2 1 , 5 6 8 $ 8,260,705$ Fr a n c h i s e t a x e s – – – – – 4 8 , 5 1 7 371,258 Un r e s t r i c t e d g r a n t s a n d c o n t r i b u t i o n s 9 9 , 6 6 7 2 0 0 , 0 0 0 1 3 0 , 0 0 0 2 8 8 , 9 4 0 1 5 8 , 3 4 0 4 0 6 , 7 3 5 37,665 In v e s t m e n t e a r n i n g s 7 2 8 , 2 7 4 9 8 5 , 4 9 7 2 , 0 9 3 , 8 7 7 2 , 1 7 0 , 0 2 5 1 , 4 6 1 , 6 5 8 7 7 0 , 1 7 8 859,583 Ga i n o n d i s p o s a l o f c a p i t a l a s s e t s – – – – – 4 1 , 1 7 3 – Mi s c e l l a n e o u s 2 , 8 6 0 , 7 2 8 2 , 7 9 9 , 7 0 3 4 , 6 1 9 , 6 2 9 5 2 8 , 1 9 3 2 3 3 , 3 2 6 3 6 6 , 9 6 1 442,091 Tr a n s f e r s ( 1 , 3 2 6 , 5 6 9 ) 2 5 0 , 0 0 0 2 5 0 , 0 0 0 9 9 7 , 9 2 9 3 7 1 , 2 4 5 2 5 1 , 1 3 3 (5,774,257) To t a l g o v e r n m e n t a l a c t i v i t i e s 1 0 , 0 3 2 , 7 6 6 1 1 , 7 1 1 , 3 0 6 1 4 , 3 4 7 , 0 6 6 1 1 , 2 2 7 , 9 2 5 1 0 , 6 7 5 , 1 6 8 1 0 , 7 0 6 , 2 6 5 4,197,045 Bu s i n e s s - t y p e a c t i v i t i e s In v e s t m e n t e a r n i n g s 1 2 5 , 2 4 5 8 9 , 9 8 7 3 3 4 , 6 2 3 3 2 6 , 3 5 6 5 4 7 , 7 0 3 1 8 8 , 1 7 8 236,131 Mi s c e l l a n e o u s 23 ,77 0 (25 ,57 6 ) 2 7 ,10 0 6 2 ,66 4 1 3 6 ,35 6 4 2 ,360 125,326 CI T Y O F M O N T I C E L L O Fi s c a l Y e a r (A c c r u a l B a s i s o f A c c o u n t i n g ) La s t S e v e n F i s c a l Y e a r s ( c o n t i n u e d ) Ch a n g e s i n N e t A s s e t s 6 6 a n d 6 7 Mi s c e l l a n e o u s 23 ,77 0 (2 5 ,57 6 ) 27 ,10 0 62 ,66 4 13 6 ,35 6 42,360 125,326 Tr a n s f e r s 1 , 3 2 6 , 5 6 9 ( 2 5 0 , 0 0 0 ) ( 2 5 0 , 0 0 0 ) ( 9 9 7 , 9 2 9 ) ( 3 7 1 , 2 4 5 ) ( 2 5 1 , 1 3 3 ) 5,774,257 To t a l b u s i n e s s - t y p e a c t i v i t i e s 1 , 4 7 5 , 5 8 4 ( 1 8 5 , 5 8 9 ) 1 1 1 , 7 2 3 ( 6 0 8 , 9 0 9 ) 3 1 2 , 8 1 4 ( 2 0 , 5 9 5 ) 6,135,714 To t a l p r i m a r y g o v e r n m e n t 11 , 5 0 8 , 3 5 0 $ 1 1 , 5 2 5 , 7 1 7 $ 1 4 , 4 5 8 , 7 8 9 $ 1 0 , 6 1 9 , 0 1 6 $ 1 0 , 9 8 7 , 9 8 2 $ 1 0 , 6 8 5 , 6 7 0 $ 10,332,759$ Ch a n g e i n n e t a s s e t s Go v e r n m e n t a l a c t i v i t i e s 9 , 6 7 9 , 5 0 9 $ 5 , 1 1 0 , 1 0 3 $ 1 1 , 8 1 3 , 2 8 7 $ 4 , 5 7 8 , 4 5 8 $ 1 , 1 6 5 , 1 0 6 $ 1 , 4 7 9 , 3 0 4 $ (2,467,761)$ Bu s i n e s s - t y p e a c t i v i t i e s 1 , 6 6 3 , 5 1 2 3 , 2 0 5 , 9 5 0 1 , 3 6 9 , 3 6 5 ( 7 7 4 , 6 2 6 ) ( 1 , 5 1 7 , 1 8 3 ) ( 3 , 1 4 9 , 0 0 6 ) 2,162,789 To t a l p r i m a r y g o v e r n m e n t 11 , 3 4 3 , 0 2 1 $ 8 , 3 1 6 , 0 5 3 $ 1 3 , 1 8 2 , 6 5 2 $ 3 , 8 0 3 , 8 3 2 $ ( 3 5 2 , 0 7 7 ) $ ( 1 , 6 6 9 , 7 0 2 ) $ (304,972)$ No t e : T h e C i t y i m p l e m e n t e d G A S B S t a t e m e n t N o . 3 4 i n f i s c a l 2 0 0 4 . T h i s i n f o r m a t i o n i s n o t a v a i l a b l e f o r p r e v i o u s y e a r s . 6 6 a n d 6 7 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Ge n e r a l F u n d Re s e r v e d 1 7 5 , 2 1 2 $ 2 4 5 , 2 2 5 $ 2 7 0 , 4 4 1 $ 1 9 4 , 1 7 2 $ 3 8 8 , 5 2 7 $ 4 0 5 , 8 1 9 $ 4 3 0 , 2 9 4 $ 3 5 9 , 3 0 3 $ 3 9 2 , 5 4 1 $ 336,286$ Un r e s e r v e d 3 , 9 9 9 , 0 5 7 5 , 1 0 8 , 9 5 3 5 , 1 1 6 , 9 3 6 4 , 5 7 6 , 0 7 2 4 , 7 3 5 , 8 6 4 5 , 0 1 4 , 0 9 4 5 , 1 3 1 , 1 9 3 5 , 8 1 9 , 2 4 9 4 , 7 0 5 , 0 9 2 4,644,748 To t a l G e n e r a l F u n d 4 , 1 7 4 , 2 6 9 $ 5 , 3 5 4 , 1 7 8 $ 5 , 3 8 7 , 3 7 7 $ 4 , 7 7 0 , 2 4 4 $ 5 , 1 2 4 , 3 9 1 $ 5 , 4 1 9 , 9 1 3 $ 5 , 5 6 1 , 4 8 7 $ 6 , 1 7 8 , 5 5 2 $ 5 , 0 9 7 , 6 3 3 $ 4,981,034$ Al l o t h e r g o v e r n m e n t a l f u n d s Re s e r v e d 6 4 , 5 7 6 , 6 9 1 $ 6 4 , 2 9 3 , 6 1 8 $ 1 0 , 2 6 4 , 6 6 6 $ 1 4 , 1 4 4 , 9 0 8 $ 1 4 , 7 5 4 , 9 2 3 $ 1 7 , 9 1 2 , 4 1 8 $ 2 7 , 0 7 2 , 9 5 7 $ 1 6 , 6 6 3 , 8 0 1 $ 1 0 , 2 8 0 , 3 2 6 $ 7,884,431$ Un r e s e r v e d , r e p o r t e d i n Sp e c i a l r e v e n u e f u n d s 7 , 2 3 9 , 7 1 3 8 , 8 9 3 , 2 5 6 7 , 9 9 9 , 5 4 7 9 , 0 8 0 , 6 8 7 1 8 , 4 2 5 , 8 9 3 1 4 , 9 4 6 , 4 4 3 7 , 5 5 4 , 3 3 4 1 4 , 1 9 1 , 4 7 3 1 8 , 4 5 1 , 8 2 8 18,324,689 Ca p i t a l p r o j e c t s f u n d s ( 3 3 5 , 0 2 0 ) 2 3 7 , 4 8 6 1 , 2 6 0 , 3 1 8 ( 9 4 , 9 4 5 ) 9 , 2 6 1 , 1 8 8 ( 1 , 8 0 5 , 3 7 2 ) ( 6 3 0 , 2 1 4 ) ( 1 , 8 3 9 , 4 7 8 ) ( 2 , 1 2 4 , 3 9 1 ) (1,532,220) To t a l a l l o t h e r g o v e r n m e n t a l f u n d s 7 1 , 4 8 1 , 3 8 4 $ 7 3 , 4 2 4 , 3 6 0 $ 1 9 , 5 2 4 , 5 3 1 $ 2 3 , 1 3 0 , 6 5 0 $ 4 2 , 4 4 2 , 0 0 4 $ 3 1 , 0 5 3 , 4 8 9 $ 3 3 , 9 9 7 , 0 7 7 $ 2 9 , 0 1 5 , 7 9 6 $ 2 6 , 6 0 7 , 7 6 3 $ 24,676,900$ La s t T e n F i s c a l Y e a r s CI T Y O F M O N T I C E L L O Fi s c a l Y e a r (M o d i f i e d A c c r u a l B a s i s o f A c c o u n t i n g ) Fu n d B a l a n c e s o f G o v e r n m e n t a l F u n d s 6 8 a n d 6 9 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Re v e n u e s Ta x e s Ge n e r a l p r o p e r t y t a x e s 5 , 1 1 5 , 9 0 3 $ 6 , 3 4 6 , 3 0 5 $ 7 , 2 0 9 , 5 6 0 $ 6 , 7 3 4 , 8 1 4 $ 6 , 7 2 2 , 3 9 3 $ 6 , 4 6 1 , 7 4 8 $ 6 , 1 9 0 , 5 9 9 $ 7 , 2 3 3 , 5 8 2 $ 7 , 5 0 2 , 8 4 4 $ 7,319,154$ Ta x i n c r e m e n t s 7 6 2 , 0 7 4 6 7 2 , 3 8 2 6 2 4 , 3 2 0 9 3 5 , 8 5 2 7 5 3 , 7 1 3 7 9 1 , 8 1 2 8 2 4 , 7 1 4 1 , 1 7 2 , 4 4 7 1 , 1 9 3 , 0 2 1 1,155,386 Sp e c i a l a s s e s s m e n t s 1 , 4 3 3 , 2 1 1 8 9 8 , 4 5 5 1 , 2 9 2 , 4 1 5 2 , 0 9 8 , 4 9 9 3 , 3 4 1 , 5 3 7 2 , 0 0 6 , 5 1 9 3 , 1 1 2 , 3 7 4 2 , 5 6 6 , 9 3 2 2 , 4 6 2 , 6 7 3 1,465,264 Fr a n c h i s e t a x e s – – – – – – – – 4 8 , 5 1 7 371,258 Li c e n s e s a n d p e r m i t s 5 9 6 , 2 5 9 7 0 5 , 1 7 9 6 8 9 , 4 2 1 7 9 7 , 4 5 8 9 5 6 , 3 0 0 7 5 8 , 7 1 8 6 2 7 , 7 5 1 9 1 7 , 5 3 9 2 6 6 , 7 9 7 217,184 In t e r g o v e r n m e n t a l 4 3 3 , 0 8 7 4 7 3 , 8 8 3 1 , 3 7 7 , 2 6 9 6 8 9 , 8 9 1 3 7 3 , 9 2 9 9 3 7 , 0 7 6 1 , 7 6 4 , 6 3 3 5 5 0 , 2 8 3 1 , 6 8 8 , 8 9 5 1,620,771 Ch a r g e s f o r s e r v i c e s 2 , 1 8 7 , 4 8 4 2 , 3 0 4 , 6 8 9 2 , 8 1 7 , 9 4 1 3 , 2 2 3 , 0 1 2 4 , 0 1 4 , 9 5 6 2 , 7 9 6 , 8 7 1 2 , 8 8 8 , 9 8 1 2 , 2 9 0 , 0 9 1 2 , 5 1 8 , 5 4 8 2,890,006 Fi n e s a n d f o r f e i t s – – – – 4 , 0 0 0 1 , 7 5 0 5 , 0 2 7 2 , 2 1 6 1 , 2 2 0 205 Ea r n i n g s o n i n v e s t m e n t s – – 6 6 8 , 6 4 3 7 2 8 , 2 7 4 9 8 5 , 4 9 7 2 , 0 9 3 , 8 7 7 2 , 1 7 0 , 0 2 5 1 , 4 6 1 , 6 5 8 7 7 0 , 1 7 8 859,583 Mi s c e l l a n e o u s 1 , 9 3 5 , 1 7 1 2 , 3 8 2 , 1 0 5 2 , 0 6 5 , 0 4 3 1 , 9 7 9 , 0 7 5 3 , 1 6 5 , 3 7 2 4 , 5 6 4 , 6 6 0 3 7 2 , 5 0 2 1 9 7 , 9 8 8 4 3 5 , 1 8 6 643,873 To t a l r e v e n u e s 1 2 , 4 6 3 , 1 8 9 1 3 , 7 8 2 , 9 9 8 1 6 , 7 4 4 , 6 1 2 1 7 , 1 8 6 , 8 7 5 2 0 , 3 1 7 , 6 9 7 2 0 , 4 1 3 , 0 3 1 1 7 , 9 5 6 , 6 0 6 1 6 , 3 9 2 , 7 3 6 1 6 , 8 8 7 , 8 7 9 16,542,684 Ex p e n d i t u r e s Ge n e r a l g o v e r n m e n t 1 , 2 0 8 , 7 1 2 1 , 3 1 2 , 6 1 3 1 , 4 1 7 , 4 8 1 1 , 6 5 6 , 2 0 7 1 , 5 4 4 , 4 4 6 1 , 7 4 3 , 7 1 6 1 , 8 9 9 , 0 9 7 1 , 5 7 9 , 1 6 4 1 , 6 3 4 , 3 9 5 1,997,458 Pu b l i c s a f e t y 7 8 7 , 3 4 7 8 9 2 , 1 3 3 1 , 2 7 4 , 3 8 9 1 , 6 0 8 , 6 5 2 1 , 6 6 6 , 8 6 9 2 , 7 6 0 , 0 9 0 1 , 6 0 3 , 3 3 1 1 , 7 3 6 , 9 6 2 2 , 7 3 8 , 7 6 8 1,684,296 Pu b l i c w o r k s 1 , 3 1 6 , 0 7 7 1 , 4 1 8 , 3 1 9 2 , 4 6 9 , 5 2 3 2 , 3 3 2 , 2 0 2 4 , 6 3 5 , 5 1 9 3 , 5 9 4 , 8 4 4 1 , 9 5 1 , 7 1 2 2 , 3 8 0 , 9 9 3 2 , 0 7 4 , 8 1 1 1,562,155 Sa n i t a t i o n 3 7 8 , 7 5 2 3 8 6 , 6 4 1 3 8 4 , 2 2 8 4 1 0 , 7 6 8 4 9 2 , 4 4 6 4 7 4 , 0 4 5 5 0 9 , 2 0 8 5 1 4 , 2 0 8 5 4 7 , 1 6 0 534,903 Cu l t u r e a n d r e c r e a t i o n 5 0 2 , 8 8 9 5 0 6 , 5 0 5 2 , 1 7 9 , 4 2 9 2 , 3 9 5 , 0 1 5 2 , 3 6 1 , 3 0 2 2 , 2 7 1 , 2 1 6 2 , 2 1 4 , 1 0 8 2 , 2 2 0 , 3 6 8 2 , 3 5 5 , 6 6 9 2,164,534 Ec o n o m i c d e v e l o p m e n t 1 , 5 8 6 , 2 5 0 1 , 9 4 9 , 2 1 3 1 , 0 3 9 , 2 3 0 9 6 9 , 2 2 9 6 3 7 , 7 7 7 2 , 0 5 6 , 0 5 5 7 7 2 , 8 5 2 5 2 5 , 7 8 3 8 4 2 , 8 1 9 2,647,687 He a l t h a n d w e l f a r e 1 1 9 , 3 6 2 1 1 4 , 3 6 7 – – – – – – – – Ca p i t a l o u t l a y 4 , 9 5 5 , 6 5 9 3 , 6 0 9 , 2 8 3 4 , 9 0 3 , 5 2 1 2 , 6 4 9 , 3 1 6 1 2 , 1 3 7 , 7 4 0 1 3 , 0 7 4 , 9 6 5 6 , 4 3 0 , 4 2 1 3 , 5 2 2 , 1 9 6 1 , 9 4 6 , 1 5 3 4,138,459 De b t s e r v i c e Pr i n c i p a l 2 , 4 4 1 , 6 7 8 3 , 8 9 0 , 2 4 6 2 , 1 6 7 , 9 2 5 4 , 0 9 6 , 5 3 9 1 , 9 1 1 , 1 2 6 3 , 4 0 7 , 6 5 5 3 , 3 8 8 , 3 8 2 5 , 0 3 7 , 0 2 8 6 , 7 4 9 , 2 9 3 5,001,000 In t e r e s t a n d p a y i n g a g e n t f e e s 1 , 4 8 6 , 8 9 9 1 , 5 1 3 , 4 8 1 1 , 4 1 8 , 3 7 5 1 , 4 6 0 , 1 8 3 1 , 4 2 6 , 3 6 7 2 , 3 7 3 , 4 3 8 2 , 2 5 6 , 3 1 1 2 , 1 9 2 , 0 6 3 1 , 8 0 1 , 3 9 2 1,553,661 To t a l e x p e n d i t u r e s 1 4 , 7 8 3 , 6 2 5 1 5 , 5 9 2 , 8 0 1 1 7 , 2 5 4 , 1 0 1 1 7 , 5 7 8 , 1 1 1 2 6 , 8 1 3 , 5 9 2 3 1 , 7 5 6 , 0 2 4 2 1 , 0 2 5 , 4 2 2 1 9 , 7 0 8 , 7 6 5 2 0 , 6 9 0 , 4 6 0 21,284,153 Ex c e s s o f r e v e n u e s o v e r ( u n d e r ) e x p e n d i t u r e s ( 2 , 3 2 0 , 4 3 6 ) ( 1 , 8 0 9 , 8 0 3 ) ( 5 0 9 , 4 8 9 ) ( 3 9 1 , 2 3 6 ) ( 6 , 4 9 5 , 8 9 5 ) ( 1 1 , 3 4 2 , 9 9 3 ) ( 3 , 0 6 8 , 8 1 6 ) ( 3 , 3 1 6 , 0 2 9 ) ( 3 , 8 0 2 , 5 8 1 ) (4,741,469) Ot h e r f i n a n c i n g s o u r c e s ( u s e s ) Tr a n s f e r s i n 4 , 3 8 6 , 1 5 4 1 , 9 6 5 , 2 6 7 4 , 4 9 6 , 1 2 0 5 , 8 5 9 , 5 3 5 4 , 1 2 8 , 0 1 0 8 , 1 8 1 , 3 7 2 5 , 2 0 2 , 0 5 1 1 6 , 8 1 8 , 0 9 0 1 0 , 1 7 2 , 8 7 8 4,687,126 Tr a n s f e r s o u t ( 4 , 2 0 4 , 9 5 2 ) ( 1 , 7 6 5 , 2 6 7 ) ( 4 , 3 6 6 , 1 2 0 ) ( 5 , 6 0 9 , 5 3 5 ) ( 3 , 8 7 8 , 0 1 0 ) ( 7 , 9 3 1 , 3 7 2 ) ( 4 , 2 0 4 , 1 2 2 ) ( 1 6 , 4 4 6 , 8 4 5 ) ( 9 , 9 2 1 , 7 4 5 ) (4,431,158) De b t i s s u e d 2 , 1 5 0 , 0 0 0 2 , 4 2 0 , 0 0 0 2 , 4 2 0 , 0 0 0 3 , 1 3 0 , 2 2 2 2 5 , 1 5 0 , 0 0 0 – 5 , 1 3 7 , 9 0 3 1 5 , 4 5 0 , 0 0 0 – 3,255,000 Pr e m i u m o n d e b t i s s u e d – – – – 7 6 1 , 3 9 6 – 8 3 , 7 1 0 – – – (D i s c o u n t ) o n d e b t i s s u e d – – – – – – – – – (19,530) Re f u n d e d b o n d s r e d e e m e d – – – – – – – ( 1 5 , 9 0 8 , 5 6 4 ) – (865,000) De f e r r e d a m o r t i z e d g a i n ( l o s s ) o n r e f u n d i n g – – – – – – – ( 3 8 4 , 4 3 2 ) – – Re i m b u r s e m e n t o f p r o j e c t c o s t 1 , 8 2 9 , 2 7 0 9 3 7 , 3 4 0 – – – – – – – – Sa l e o f l a n d h e l d f o r r e s a l e 4 2 1 , 8 6 9 1 2 , 0 0 0 – – – – ( 1 0 3 , 0 8 4 ) 7 4 , 6 5 0 – – Sa l e o f c a p i t a l a s s e t s – – – – – – 3 7 , 5 2 0 2 , 5 7 5 6 2 , 4 9 6 67,569 To t a l o t h e r f i n a n c i n g s o u r c e s ( u s e s ) 4 , 5 8 2 , 3 4 1 3 , 5 6 9 , 3 4 0 2 , 5 5 0 , 0 0 0 3 , 3 8 0 , 2 2 2 2 6 , 1 6 1 , 3 9 6 2 5 0 , 0 0 0 6 , 1 5 3 , 9 7 8 ( 3 9 4 , 5 2 6 ) 3 1 3 , 6 2 9 2,694,007 Ne t c h a n g e i n f u n d b a l a n c e s 2, 2 6 1 , 9 0 5 $ 1 , 7 5 9 , 5 3 7 $ 2 , 0 4 0 , 5 1 1 $ 2 , 9 8 8 , 9 8 6 $ 1 9 , 6 6 5 , 5 0 1 $ ( 1 1 , 0 9 2 , 9 9 3 ) $ 3 , 0 8 5 , 1 6 2 $ ( 3 , 7 1 0 , 5 5 5 ) $ ( 3 , 4 8 8 , 9 5 2 ) $ (2,047,462)$ De b t s e r v i c e a s a p e r c e n t a g e o f n o n c a p i t a l e x p e n d i t u r e s 40 . 0 % 4 5 . 1 % 2 9 . 0 % 3 7 . 2 % 2 2 . 7 % 3 0 . 9 % 3 8 . 7 % 4 4 . 7 % 4 5 . 6 % 3 8 . 2 % Fi s c a l Y e a r (M o d i f i e d A c c r u a l B a s i s o f A c c o u n t i n g ) La s t T e n F i s c a l Y e a r s Ch a n g e s i n F u n d B a l a n c e s o f G o v e r n m e n t a l F u n d s CI T Y O F M O N T I C E L L O 7 0 a n d 7 1 To t a l Ta x a b l e N e t Re s i d e n t i a l C o m m e r c i a l P e r s o n a l T a x C a p a c i t y T o t a l P r o p e r t y P r o p e r t y P r o p e r t y V a l u e * M a r k e t V a l u e 3, 3 8 3 , 7 3 5 $ 1 0 , 8 6 9 , 5 6 3 $ 1 9 8 , 0 6 3 $ 1 4 , 5 1 6 , 0 2 2 $ 3 7 . 1 4 6 % 6 0 0 , 6 0 2 , 5 0 0 $ 2 . 4 % 3, 3 0 9 , 0 3 7 6 , 6 5 1 , 0 9 2 1 3 0 , 4 7 8 1 0 , 1 3 4 , 5 1 1 6 7 . 6 4 5 6 6 3 , 4 9 6 , 8 0 0 1 . 5 3, 9 1 5 , 2 0 4 6 , 8 2 0 , 5 8 7 1 3 6 , 3 0 8 1 0 , 9 1 9 , 2 4 7 6 5 . 5 5 8 7 3 9 , 0 0 7 , 6 0 0 1 . 5 4, 5 5 2 , 3 8 0 6 , 9 4 8 , 7 0 7 1 4 3 , 4 5 2 1 1 , 7 1 4 , 6 7 1 6 2 . 4 5 2 8 1 2 , 8 5 5 , 3 0 0 1 . 4 5, 1 8 2 , 3 7 0 7 , 0 8 5 , 1 0 5 1 6 0 , 5 9 4 1 2 , 4 9 8 , 9 1 2 5 8 . 7 6 0 8 8 2 , 0 3 8 , 3 0 0 1 . 4 5, 8 2 4 , 2 3 8 7 , 8 7 1 , 1 3 2 1 7 0 , 4 4 6 1 3 , 9 3 5 , 4 4 2 5 1 . 0 4 0 9 9 3 , 6 4 7 , 3 0 0 1 . 4 6, 9 2 9 , 5 1 7 8 , 9 1 3 , 8 2 1 1 7 7 , 8 2 2 1 6 , 2 0 4 , 8 5 5 4 2 . 6 0 1 1 , 2 4 3 , 4 6 1 , 1 0 0 1 . 3 7, 4 4 3 , 3 3 1 9 , 4 5 5 , 6 6 6 1 7 6 , 2 8 9 1 7 , 3 1 2 , 0 7 5 4 6 . 9 4 2 1 , 2 8 2 , 4 0 0 , 7 0 0 1 . 3 7, 5 0 6 , 9 7 3 9 , 9 6 6 , 8 7 3 1 7 4 , 2 2 3 1 7 , 9 4 7 , 2 6 0 4 6 . 1 9 1 1 , 2 4 5 , 4 0 7 , 6 0 0 1 . 4 6, 1 6 5 , 7 0 4 1 0 , 7 9 3 , 8 3 6 1 8 9 , 5 6 3 1 7 , 4 0 0 , 2 8 0 4 5 . 8 2 2 1 , 1 8 8 , 2 2 2 , 1 0 0 1 . 5 Pe r c e n t a g e o f T o t a l N e t T a x C a p a c i t y V a l u e 23 . 3 % 7 4 . 9 % 1 . 4 % 0 . 4 % 1 0 0 . 0 % 32 . 7 6 5 . 6 1 . 3 0 . 4 1 0 0 . 0 35 . 9 6 2 . 5 1 . 2 0 . 4 1 0 0 . 0 38 . 9 5 9 . 3 1 . 2 0 . 6 1 0 0 . 0 41 . 5 5 6 . 7 1 . 3 0 . 6 1 0 0 . 0 41 . 8 5 6 . 5 1 . 2 0 . 5 1 0 0 . 0 42 . 8 5 5 . 0 1 . 1 1 . 1 1 0 0 . 0 43 . 0 5 4 . 6 1 . 0 1 . 4 1 0 0 . 0 41 . 8 5 5 . 5 1 . 0 1 . 7 1 0 0 . 0 35 . 4 6 2 . 0 1 . 1 1 . 4 1 0 0 . 0 * T a x c a p a c i t y v a l u e d o e s n o t i n c l u d e t a x i n c r e m e n t . No t e : So u r c e : W r i g h t C o u n t y C e r t i f i c a t e o f T a x e s a n d T a x a b l e P r o p e r t i e s 20 0 5 20 0 4 20 0 7 20 0 6 20 0 9 20 0 8 20 0 8 20 0 9 20 0 1 20 0 3 20 0 2 20 1 0 20 0 1 20 0 4 20 0 3 20 0 2 20 0 7 20 0 6 20 0 5 Mi s c e l l a n e o u s T a x R a t e Fi s c a l Y e a r Re a l P r o p e r t y La s t T e n F i s c a l Y e a r s Ta x C a p a c i t y V a l u e a n d E s t i m a t e d M a r k e t V a l u e o f T a x a b l e P r o p e r t y CI T Y O F M O N T I C E L L O 70 , 8 4 3 Capacity as aNet Tax Percentage of Market Value To t a l D i r e c t Ta x e x e m p t p r o p e r t y v a l u e s a r e n o t i n c l u d e d i n t o t a l n e t c a p a c i t y v a l u e . Ag r i c u l t u r a l an d 25 1 , 1 7 7 20 1 0 64 , 6 6 1 $ 29 9 , 1 9 1 23 6 , 7 8 9 70 , 1 3 2 47 , 1 4 8 43 , 9 0 4 18 3 , 6 9 5 69 , 6 2 6 7 4 a n d 7 5 Ta x a b l e N e t T a x M a r k e t T a x a b l e N e t T a x Ma r k e t V a l u e C a p a c i t y V a l u e R a n k V a l u e C a p a c i t y V a l u e R a n k Xc e l E n e r g y ( N o r t h e r n S t a t e s ) 2 6 4 , 1 0 6 , 7 0 0 $ 5 , 2 7 5 , 7 3 9 $ 1 3 0 . 3 2 % 2 5 8 , 5 6 0 , 0 0 0 $ 5 , 1 6 5 , 3 4 4 $ 1 35.58 % Ta r g e t C o r p o r a t i o n 1 3 , 1 6 1 , 6 0 0 2 6 2 , 4 8 2 2 1 . 5 1 – – – – Wa l m a r t R e a l E s t a t e B u s T r u s t 1 2 , 9 5 4 , 1 0 0 2 5 5 , 9 9 6 3 1 . 4 7 – – – – Ne w R i v e r M e d i c a l C e n t e r 9 , 7 0 6 , 8 0 0 1 9 3 , 3 8 6 4 1 . 1 1 2, 3 6 3 , 9 0 0 4 6 , 5 2 8 8 0.32 Ry a n C o m p a n i e s 8 , 7 4 2 , 9 0 0 1 4 7 , 5 1 6 5 0 . 8 5 – – – – Ho m e D e p o t U S A , I n c . 8 , 2 6 3 , 0 0 0 1 6 4 , 5 1 0 6 0 . 9 5 – – – – Ja c o b H o l d i n g s o f S a n d b e r g R o a d 7 , 4 1 9 , 0 0 0 1 4 6 , 8 8 0 7 0 . 8 4 – – – – L& P V e n t u r e s , L L C 7 , 4 1 6 , 6 0 0 1 4 0 , 3 7 4 8 0 . 8 1 – – – – Ja c o b H o l d i n g s o f M o n t i c e l l o , L L C 6 , 4 8 3 , 9 0 0 1 2 7 , 9 3 6 9 0 . 7 4 – – – – Mu l l e r F a m i l y T h e a t r e s 6 , 4 1 9 , 2 0 0 1 2 7 , 2 2 6 1 0 0 . 7 3 – – – – In d i v i d u a l s – – – – 4, 7 4 3 , 3 0 0 9 4 , 1 1 6 2 0.65 Mo n t i c e l l o / W a s h i n g t o n A s s o c i a t i o n – – – – 3, 4 9 9 , 6 0 0 6 9 , 2 4 2 3 0.48 St . C l o u d H o s p i t a l – – – – 3, 4 7 5 , 9 0 0 6 2 , 5 5 6 4 0.43 BB F P r o p e r t i e s , I n c . – – – – 3, 0 4 3 , 2 0 0 6 0 , 1 1 4 5 0.41 Wr i g h t C o . P r o d u c t s , I n c . – – – – 2, 8 6 4 , 8 0 0 5 6 , 5 4 6 6 0.39 Mo n t i c e l l o V i l l a g e A p a r t m e n t s – – – – 2, 7 8 9 , 3 0 0 5 0 , 2 0 7 7 0.35 JA C D e v e l o p m e n t , L L C ( M i d w e s t G r a p h i c s ) – – – – 1, 9 6 0 , 5 0 0 3 8 , 4 6 0 9 0.26 De m e u l e s F a m i l y L T D P a r t n e r s h i p – – – – 1, 9 0 6 , 6 0 0 3 7 , 3 8 2 1 0 0.26 To t a l 3 4 4 , 6 7 3 , 8 0 0 $ 6 , 8 4 2 , 0 4 5 $ 3 9 . 3 3 % 2 8 5 , 2 0 7 , 1 0 0 $ 5 , 6 8 0 , 4 9 5 $ 39.13 % So u r c e : 20 1 0 To t a l N e t T a x Pe r c e n t a g e o f Cu r r e n t Y e a r a n d N i n e Y e a r s A g o Pr i n c i p a l P r o p e r t y T a x p a y e r s CI T Y O F M O N T I C E L L O Ta x p a y e r 20 0 1 Wr i g h t C o u n t y C e r t i f i c a t e o f T a x e s a n d T a x a b l e P r o p e r t i e s Capacity Value Ca p a c i t y V a l u e Total Net Tax Percentage of 7 7 a n d 7 8 To t a l T a x C o l l e c t i o n s i n A b a t e m e n t s Le v y f o r S u b s e q u e n t a n d Fi s c a l Y e a r A m o u n t Y e a r s A m o u n t A d j u s t m e n t s A m o u n t Pr o p e r t y T a x e s : 5, 3 5 0 , 7 6 8 $ 5 , 3 1 3 , 3 5 6 $ 99 . 3 0 % 36 , 9 7 8 $ 5 , 3 5 0 , 3 3 4 $ 99 . 9 9 % (4 3 4 ) $ – $ – %(a) 6, 4 9 8 , 1 8 7 6 , 4 4 4 , 7 1 6 9 9 . 1 8 5 0 , 5 1 0 6 , 4 9 5 , 2 2 6 9 9 . 9 5 ( 2 , 9 6 1 ) – – (b) 6, 7 8 1 , 9 4 6 6 , 7 2 4 , 0 2 2 9 9 . 1 5 5 1 , 1 3 6 6 , 7 7 5 , 1 5 8 9 9 . 9 0 ( 6 , 7 8 8 ) – – (b) 6, 9 5 7 , 8 9 7 6 , 8 7 7 , 2 1 0 9 8 . 8 4 7 7 , 8 4 9 6 , 9 5 5 , 0 5 9 9 9 . 9 6 ( 2 , 8 3 8 ) – – 6, 9 5 7 , 7 7 6 6 , 8 7 0 , 9 6 6 9 8 . 7 5 8 5 , 2 5 1 6 , 9 5 6 , 2 1 7 9 9 . 9 8 2 , 8 2 8 4 , 3 8 7 0 . 0 6 6, 7 5 0 , 1 3 2 6 , 6 3 3 , 0 9 6 9 8 . 2 7 1 0 2 , 0 9 3 6 , 7 3 5 , 1 8 9 9 9 . 7 8 ( 7 , 8 6 6 ) 7 , 0 7 7 0 . 1 0 6, 4 9 9 , 9 1 4 6 , 3 0 5 , 8 2 6 9 7 . 0 1 1 4 7 , 9 8 9 6 , 4 5 3 , 8 1 5 9 9 . 2 9 ( 2 5 , 0 4 4 ) 2 1 , 0 5 5 0 . 3 2 7, 6 0 0 , 1 8 9 7 , 3 8 5 , 1 9 4 9 7 . 1 7 1 1 8 , 6 3 6 7 , 5 0 3 , 8 3 0 9 8 . 7 3 ( 5 4 , 0 5 7 ) 4 2 , 3 0 2 0 . 5 6 7, 7 5 0 , 1 1 9 7 , 5 0 1 , 3 1 5 9 6 . 7 9 1 0 2 , 5 5 5 7 , 6 0 3 , 8 7 0 9 8 . 1 1 ( 1 9 , 4 5 8 ) 1 2 6 , 7 9 1 1 . 6 4 7, 6 4 8 , 2 7 2 7 , 4 3 5 , 6 3 9 9 7 . 2 2 – 7 , 4 3 5 , 6 3 9 9 7 . 2 2 ( 1 , 0 6 6 ) 2 1 1 , 5 6 7 2 . 7 7 413,179 $ Ta x I n c r e m e n t s : 66 1 , 6 1 1 $ 6 5 5 , 0 0 0 $ 99 . 0 0 % 6, 6 1 1 $ 6 6 1 , 6 1 1 $ 10 0 . 0 0 – $ – $ – % 62 4 , 8 1 0 6 1 9 , 7 7 4 9 9 . 1 9 4 , 7 8 2 6 2 4 , 5 5 6 9 9 . 9 6 ( 2 5 4 ) – – 61 2 , 7 3 1 6 0 1 , 8 4 0 9 8 . 2 2 6 , 8 8 2 6 0 8 , 7 2 2 9 9 . 3 5 ( 4 , 0 0 9 ) – – (b) 65 6 , 6 3 9 6 5 3 , 0 1 2 9 9 . 4 5 3 , 5 1 1 6 5 6 , 5 2 3 9 9 . 9 8 ( 1 1 6 ) – – 73 6 , 3 0 1 7 3 2 , 5 3 4 9 9 . 4 9 3 , 7 6 7 7 3 6 , 3 0 1 1 0 0 . 0 0 – – – 77 9 , 4 0 0 7 7 7 , 2 9 7 9 9 . 7 3 4 4 3 7 7 7 , 7 4 0 9 9 . 7 9 – 1 , 6 6 0 0 . 2 1 88 9 , 2 6 2 8 3 6 , 3 9 7 9 4 . 0 6 7 5 6 8 3 7 , 1 5 3 9 4 . 1 4 ( 4 9 , 9 6 5 ) 2 , 1 4 4 0 . 2 4 1, 1 9 1 , 1 7 7 1 , 1 8 4 , 4 0 2 9 9 . 4 3 3 , 8 1 4 1 , 1 8 8 , 2 1 6 9 9 . 7 5 – 2 , 9 6 1 0 . 2 5 1, 2 4 7 , 6 0 5 1 , 2 0 5 , 5 8 2 9 6 . 6 3 2 2 , 2 5 3 1 , 2 2 7 , 8 3 5 9 8 . 4 2 ( 5 6 2 ) 1 9 , 2 0 8 1 . 5 4 1, 1 9 3 , 3 8 3 1 , 1 4 4 , 2 4 3 9 5 . 8 8 – 1 , 1 4 4 , 2 4 3 9 5 . 8 8 ( 6 , 7 4 5 ) 4 2 , 3 9 5 3 . 5 5 68,368 $ (a ) T o t a l u n c o l l e c t e d b a l a n c e a s o f 0 5 / 1 5 / 0 5 (b ) T o t a l u n c o l l e c t e d b a l a n c e a s o f 1 2 / 3 1 / 0 8 So u r c e : 20 0 4 20 0 6 20 0 4 20 0 2 20 0 1 La s t T e n F i s c a l Y e a r s Pr o p e r t y T a x L e v i e s a n d C o l l e c t i o n s CI T Y O F M O N T I C E L L O 20 0 6 20 0 9 20 0 1 20 1 0 of LevyPercentageTotal Uncollected of L e v y Pe r c e n t a g e 20 0 3 Wr i g h t C o u n t y De c e m b e r 3 1 , 20 0 5 Fi s c a l Y e a r En d e d to D a t e 20 0 2 20 0 3 20 0 7 20 0 9 20 1 0 To t a l C o l l e c t i o n s Co l l e c t e d W i t h i n t h e Fi s c a l Y e a r o f t h e L e v y of L e v y Pe r c e n t a g e 20 0 8 20 0 8 20 0 7 20 0 5 7 9 a n d 8 0 Ba s e R a t e R a t e 5 0 1 – 4 , 0 0 0 R a t e O v e r 4 , 0 0 0 B a s e R a t e R a t e O v e r 5 0 0 B a s e R a t e R a t e O v e r 5 0 0 Fi r s t 5 0 0 p e r 1 0 0 p e r 1 0 0 F i r s t 5 0 0 p e r 1 0 0 F i r s t 5 0 0 p e r 1 0 0 Cu b i c F e e t C u b i c F e e t C u b i c F e e t C u b i c F e e t C u b i c F e e t C u b i c F e e t C u b i c F e e t 8. 2 5 $ 0 . 5 0 $ 0 . 5 0 $ 8 . 2 5 $ 0 . 5 0 $ 1 0 . 0 0 $ 1 . 7 3 $ 8. 2 5 0 . 5 0 0 . 5 0 8 . 2 5 0 . 5 0 1 0 . 0 0 1 . 7 3 8. 2 5 0 . 5 0 0 . 5 0 8 . 2 5 0 . 5 0 1 0 . 0 0 1 . 7 3 8. 2 5 0 . 5 0 0 . 5 0 8 . 2 5 0 . 5 0 1 0 . 0 0 1 . 7 3 8. 5 8 0 . 5 2 0 . 5 2 8 . 5 8 0 . 5 2 1 0 . 0 0 1 . 8 0 8. 9 2 0 . 5 4 0 . 5 4 8 . 9 2 0 . 5 4 1 0 . 4 0 1 . 8 7 10 . 2 6 0 . 6 2 0 . 7 1 1 0 . 2 6 0 . 6 2 1 1 . 9 6 2 . 1 5 11 . 9 1 0 . 7 4 0 . 8 4 1 1 . 9 1 0 . 7 4 1 3 . 7 5 2 . 4 7 12 . 4 0 0 . 7 8 0 . 8 8 1 2 . 4 0 0 . 7 8 1 4 . 4 5 2 . 6 0 13 . 0 0 0 . 8 5 0 . 9 5 1 4 . 7 5 0 . 9 5 1 5 . 1 5 2 . 7 5 So u r c e : Ut i l i t y R a t e s p e r Y e a r CI T Y O F M O N T I C E L L O 20 0 9 20 0 8 Ci t y o f M o n t i c e l l o u t i l i t y b i l l i n g d e p a r t m e n t 20 1 0 Fi s c a l Y e a r 20 0 1 20 0 4 20 0 3 20 0 2 20 0 7 20 0 6 20 0 5 Sewer Wa t e r Re s i d e n t i a l C o m m e r c i a l La s t T e n F i s c a l Y e a r s 82 a n d 8 3 Ge n e r a l O t h e r G e n e r a l G e n e r a l Ob l i g a t i o n G e n e r a l O b l i g a t i o n G e n e r a l O b l i g a t i o n Im p r o v e m e n t O b l i g a t i o n T a x I n c r e m e n t O b l i g a t i o n R e v e n u e C o n t r a c t I m p r o v e m e n t R e v e n u e T o t a l P r i m a r y Bo n d s B o n d s B o n d s N o t e s B o n d s f o r D e e d B o n d s B o n d s G o v e r n m e n t P e r C a p i t a ( 1 ) 9, 7 0 5 , 0 0 0 $ 4 4 0 , 0 0 0 $ 2 , 4 7 5 , 0 0 0 $ 1 3 , 1 7 6 , 5 3 5 $ 7 , 4 3 5 , 0 0 0 $ – $ – $ – $ 3 3 , 2 3 1 , 5 3 5 $ 1 3 . 6 4 %3,958$ 9, 1 6 0 , 0 0 0 2 2 0 , 0 0 0 2 , 4 1 0 , 0 0 0 1 2 , 6 2 6 , 2 8 9 7 , 3 4 5 , 0 0 0 – – – 3 1 , 7 6 1 , 2 8 9 1 2 . 3 6 3,593 7, 7 6 0 , 0 0 0 2 , 5 3 5 , 0 0 0 2 , 3 6 0 , 0 0 0 1 2 , 0 5 3 , 3 6 4 7 , 3 0 5 , 0 0 0 – – – 3 2 , 0 1 3 , 3 6 4 1 1 . 0 8 3,275 6, 7 1 5 , 0 0 0 2 , 4 2 0 , 0 0 0 1 , 1 0 0 , 0 0 0 1 1 , 4 5 6 , 8 2 5 7 , 1 7 0 , 0 0 0 2 , 1 8 5 , 2 2 2 – – 3 1 , 0 4 7 , 0 4 7 9 . 9 6 3,041 31 , 0 6 5 , 0 0 0 2 , 4 2 0 , 0 0 0 9 7 0 , 0 0 0 1 0 , 8 3 5 , 6 9 9 6 , 9 1 0 , 0 0 0 2 , 0 8 5 , 2 2 2 – – 5 4 , 2 8 5 , 9 2 1 1 6 . 3 4 5,092 30 , 2 5 5 , 0 0 0 2 , 2 1 0 , 0 0 0 8 1 0 , 0 0 0 1 0 , 1 8 8 , 9 7 3 6 , 6 5 0 , 0 0 0 7 6 4 , 2 9 3 – – 5 0 , 8 7 8 , 2 6 6 1 4 . 1 9 4,569 28 , 4 1 5 , 0 0 0 7 , 1 3 2 , 9 0 3 6 8 0 , 0 0 0 9 , 5 1 5 , 5 9 2 6 , 2 2 0 , 0 0 0 6 6 4 , 2 9 3 9 0 7 , 0 9 7 – 5 3 , 5 3 4 , 8 8 5 1 4 . 1 2 4,757 24 , 0 7 5 , 0 0 0 1 5 , 7 3 7 , 9 0 3 5 7 5 , 0 0 0 – 6 , 1 8 0 , 0 0 0 5 6 4 , 2 9 3 9 0 7 , 0 9 7 2 6 , 4 4 5 , 0 0 0 7 4 , 4 8 4 , 2 9 3 1 9 . 0 1 6,553 21 , 5 3 5 , 0 0 0 1 2 , 8 2 2 , 9 0 3 4 7 0 , 0 0 0 – 5 , 5 5 5 , 0 0 0 – 8 3 7 , 0 9 7 2 6 , 4 4 5 , 0 0 0 6 7 , 6 6 5 , 0 0 0 1 7 . 6 0 5,896 21 , 3 2 0 , 0 0 0 1 1 , 5 3 1 , 9 0 3 – – 4 , 9 2 0 , 0 0 0 – 7 4 7 , 0 9 7 2 6 , 4 4 5 , 0 0 0 6 4 , 9 6 4 , 0 0 0 1 5 . 8 4 5,649 (1 ) S e e t h e S c h e d u l e o f D e m o g r a p h i c a n d E c o n o m i c S t a t i s t i c s . No t e : D e t a i l s r e g a r d i n g t h e C i t y ’ s o u t s t a n d i n g d e b t c a n b e f o u n d i n t h e n o t e s t o b a s i c f i n a n c i a l s t a t e m e n t s . Go v e r n m e n t a l A c t i v i t i e s La s t T e n F i s c a l Y e a r s Ra t i o s o f O u t s t a n d i n g D e b t b y T y p e CI T Y O F M O N T I C E L L O 20 1 0 20 0 1 20 0 9 20 0 6 20 0 7 Fi s c a l Y e a r Income (1)of PersonalPercentage Bu s i n e s s - T y p e A c t i v i t i e s 20 0 8 20 0 2 20 0 3 20 0 4 20 0 5 8 4 a n d 8 5 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 12 , 0 1 2 , 0 5 0 $ 1 3 , 2 6 9 , 9 3 6 $ 1 4 , 7 8 0 , 1 5 2 $ 1 6 , 2 5 7 , 1 0 6 $ 1 7 , 6 4 0 , 7 6 6 $ 1 9 , 8 7 2 , 9 4 6 $ 2 3 , 2 0 3 , 6 8 2 $ 3 7 , 3 0 3 , 8 3 3 $ 3 8 , 0 7 4 , 8 4 2 $ 35,646,663$ 7, 7 6 0 , 0 0 0 7 , 5 4 5 , 0 0 0 7 , 4 2 0 , 0 0 0 7 , 1 7 0 , 0 0 0 6 , 9 1 0 , 0 0 0 6 , 6 5 0 , 0 0 0 6 , 1 0 0 , 0 0 0 6 , 1 8 0 , 0 0 0 5 , 5 8 5 , 0 0 0 4,985,000 4, 2 5 2 , 0 5 0 $ 5 , 7 2 4 , 9 3 6 $ 7 , 3 6 0 , 1 5 2 $ 9 , 0 8 7 , 1 0 6 $ 1 0 , 7 3 0 , 7 6 6 $ 1 3 , 2 2 2 , 9 4 6 $ 1 7 , 1 0 3 , 6 8 2 $ 3 1 , 1 2 3 , 8 3 3 $ 3 2 , 4 8 9 , 8 4 2 $ 30,661,663$ To t a l n e t d e b t a p p l i c a b l e t o t h e l i m i t 64 . 6 0 % 5 6 . 8 6 % 5 0 . 2 0 % 4 4 . 1 0 % 3 9 . 1 7 % 3 3 . 4 6 % 2 6 . 2 9 % 1 6 . 5 7 % 1 4 . 6 7 % 1 3 . 9 8 % Ma r k e t v a l u e ( p a y a b l e 2 0 1 0 v a l u e ) 1 , 1 8 8 , 2 2 2 , 1 0 0 $ De b t l i m i t ( 3 % o f m a r k e t v a l u e ) 3 5 , 6 4 6 , 6 6 3 De b t a p p l i c a b l e t o l i m i t Ot h e r g e n e r a l o b l i g a t i o n b o n d s 1 2 , 2 7 9 , 0 0 0 Le s s a m o u n t s f o r g e n e r a l o b l i g a t i o n b o n d s n o t s u b j e c t t o l i m i t ( 7 , 2 9 4 , 0 0 0 ) To t a l n e t d e b t a p p l i c a b l e t o l i m i t 4 , 9 8 5 , 0 0 0 Le g a l d e b t m a r g i n 3 0 , 6 6 1 , 6 6 3 $ No t e : La s t T e n F i s c a l Y e a r s Le g a l D e b t M a r g i n I n f o r m a t i o n CI T Y O F M O N T I C E L L O Al l M i n n e s o t a m u n i c i p a l i t i e s ( c o u n t i e s , c i t i e s , t o w n s , a n d s c h o o l d i s t r i c t s ) a r e s u b j e c t t o s t a t u t o r y “ n e t d e b t ” l i m i t a t i o n s u n d e r t h e p r o v i s i o n s of M i n n e s o t a S t a t u t e s , S e c t i o n 4 7 5 . 5 3 . U n d e r t h i s p r o v i s i o n , b e g i n n i n g w i t h i s s u e s ha v i n g a s e t t l e m e n t d a t e a f t e r J u n e 3 0 , 2 0 0 8 , t h e S t a t e o f M i n n e s o t a i n c r e a s e d t h e l e g a l d e b t l i m i t f r o m 2 p e r c e n t t o 3 p e r c e n t o f t h e C i t y ’ s t a x a b l e m a r k e t v a l u e . To t a l n e t d e b t a p p l i c a b l e t o l i m i t Le g a l d e b t m a r g i n Fi s c a l Y e a r Le g a l D e b t M a r g i n C a l c u l a t i o n f o r F i s c a l Y e a r 2 0 1 0 De b t l i m i t a s a p e r c e n t a g e o f d e b t l i m i t 8 8 a n d 8 9 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Fu n c t i o n N/ A N / A N / A N / A 1 6 . 6 0 1 6 . 6 0 1 6 . 6 0 1 7 . 6 0 1 7 . 6 0 19.00 N/ A N / A N / A N / A 3 . 0 0 3 . 0 0 3 . 0 0 3 . 0 0 3 . 0 0 3.00 N/ A N / A N / A N / A 2 1 . 5 0 2 1 . 5 0 2 1 . 5 0 2 1 . 5 0 1 9 . 5 0 19.50 Cu l t u r e a n d r e c r e a t i o n N/ A N / A N / A N / A 5 . 0 0 5 . 0 0 5 . 0 0 5 . 0 0 5 . 0 0 5.00 N/ A N / A N / A N / A 8 . 0 0 8 . 0 0 8 . 0 0 8 . 0 0 8 . 0 0 8.00 Co m m u n i t y d e v e l o p m e n t N / A N / A N / A N / A 2 . 0 0 2 . 0 0 2 . 0 0 2 . 0 0 2 . 0 0 2.00 N/ A N / A N / A N / A 4 . 0 0 4 . 0 0 4 . 0 0 4 . 0 0 4 . 0 0 4.00 N/ A N / A N / A N / A 1 0 . 0 0 1 0 . 0 0 1 0 . 0 0 1 0 . 0 0 1 0 . 0 0 10.00 Fi b e r N e t N / A N / A N / A N / A – – – – 6 . 0 0 11.00 To t a l N / A N / A N / A N / A 7 0 . 1 0 7 0 . 1 0 7 0 . 1 0 7 1 . 1 0 7 5 . 1 0 81.50 Pu b l i c w o r k s En g i n e e r i n g Fi s c a l Y e a r La s t T e n F i s c a l Y e a r s Fu l l - T i m e E q u i v a l e n t C i t y G o v e r n m e n t E m p l o y e e s b y F u n c t i o n CI T Y O F M O N T I C E L L O Se w e r / w a t e r Pa r k s Ma i n t e n a n c e Li q u o r s t o r e Co m m u n i t y c e n t e r Ge n e r a l g o v e r n m e n t 9 3 a n d 9 4 N/ A – N o t A v a i l a b l e So u r c e : C i t y F i n a n c e D e p a r t m e n t 9 3 a n d 9 4 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Fu n c t i o n Fi r e 30 6 2 8 8 3 1 6 2 7 8 3 2 5 2 6 6 3 1 7 3 9 5 3 7 5 282 N/ A N / A N / A N / A 1 0 3 0 5 0 1 2 0 1 6 0 225 Sa l t ( t o n s ) N / A N / A N / A N / A 1 1 4 1 6 4 2 7 4 4 7 4 4 7 5 521 Sa n d ( t o n s ) N / A N / A N / A N / A 3 2 0 3 1 9 3 4 7 6 1 1 6 1 5 710 Cr a c k s e a l a n t ( p o u n d s ) N / A N / A N / A N / A N / A 1 1 , 1 1 5 1 4 , 2 0 0 1 8 , 1 5 0 1 5 , 0 0 0 23,580 As p h a l t r e p a i r s ( t o n s o f a s p h a l t ) N / A N / A N / A N / A N / A 3 0 0 3 3 0 2 0 0 2 0 0 200 Cu l t u r e a n d r e c r e a t i o n Sh a d e t r e e s p l a n t e d – 8 0 – – – – 3 8 4 4 1 0 4 2 5 150 Di s e a s e d t r e e s r e m o v e d N / A N / A N / A N / A N / A N / A N / A 8 6 8 2 0 0 180 Tr a i l s m a i n t a i n e d ( m i l e s ) N / A N / A N / A N / A N / A N / A N / A 1 7 1 7 17 Co m m u n i t y c e n t e r u s e r s N / A N / A N / A N / A N / A 1 4 5 , 7 0 0 1 6 8 , 9 2 3 1 8 6 , 4 2 9 1 8 6 , 2 7 9 183,527 Pr o g r a m s a l e s N / A N / A N / A N / A N / A 6 7 , 0 2 1 8 8 , 4 1 2 1 2 9 , 3 3 9 1 4 9 , 8 2 9 167,723 Re n t a l r e v e n u e N / A N / A N / A N / A N / A 1 4 8 , 5 3 3 1 3 9 , 0 9 6 1 3 6 , 5 4 7 1 2 7 , 6 1 2 184,913 Ec o n o m i c d e v e l o p m e n t Pe r m i t s i s s u e d 1 , 1 3 5 1 , 1 8 2 1 , 1 5 6 1 , 1 9 9 1 , 4 1 2 1 , 3 2 3 9 6 2 3 , 6 8 1 8 7 9 495 Pe r m i t v a l u a t i o n 3 5 , 1 1 5 , 5 4 3 $ 4 0 , 1 8 7 , 7 7 2 $ 3 9 , 5 9 9 , 2 6 3 $ 6 2 , 3 0 0 , 3 6 0 $ 6 8 , 0 6 9 , 4 4 4 $ 4 5 , 5 7 2 , 6 9 0 $ 4 5 , 9 1 7 , 0 0 0 $ 4 5 , 9 5 0 , 0 0 0 $ 1 1 , 6 3 0 , 0 0 0 $ 9,033,078$ Wa t e r Me t e r s r e p l a c e d 9 5 2 6 1 1 1 8 6 4 8 1 1 0 9 9 4 1 1 1 2 8 0 145 Cu r b b o x r e p a i r s ( w a t e r v a l v e s ) 5 0 2 1 2 5 0 5 0 5 0 5 0 5 0 7 5 2 0 0 200 Hy d r a n t r e p a i r 1 7 5 1 7 5 1 7 5 1 7 5 1 7 5 1 7 5 1 7 5 1 7 5 1 7 5 175 Av e r a g e a n n u a l r e s i d e n t i a l w a t e r u s e 2 9 7 , 2 3 4 , 4 9 5 2 5 9 , 4 7 6 , 7 1 2 3 5 3 , 4 5 2 , 9 2 6 3 2 4 , 8 6 8 , 0 4 3 3 4 4 , 1 9 7 , 0 5 8 4 1 9 , 8 9 2 , 1 3 5 4 6 7 , 6 7 3 , 4 8 8 4 0 9 , 8 7 9 , 6 5 8 4 3 0 , 2 6 3 , 7 9 1 376,687,840 Av e r a g e d a i l y c o n s u m p t i o n ( M G ) 1 . 4 0 8 1 . 2 3 2 1 . 5 6 4 1 . 4 9 7 1 . 5 6 9 1 . 8 1 7 1 . 9 2 1 1 . 7 4 9 1 . 8 0 6 1.625 Ma x i m u m d a i l y g a l l o n s p u m p e d ( M G ) 4 . 3 1 8 3 . 1 4 0 4 . 4 0 1 4 . 2 0 9 4 . 8 8 9 5 . 2 7 1 5 . 1 5 0 4 . 7 2 8 4 . 4 9 6 3.565 Se w e r Se w a g e f l o w ( M G ) 3 5 5 3 6 1 3 9 5 4 0 4 4 3 4 4 1 4 4 2 3 4 0 8 3 9 0 398 Mi l e s j e t t e d 2 0 2 0 2 0 2 0 2 0 2 0 2 0 2 0 2 0 25 Bl o c k s r o d d e d 3 3 3 3 3 3 3 3 3 25 Mi l e s i n s p e c t e d 2 0 2 0 2 0 2 0 2 0 2 0 2 0 2 0 2 0 30 Li b r a r y It e m s c h e c k e d o u t N / A N / A N / A N / A N / A 1 8 8 , 7 0 4 2 0 9 , 1 7 4 2 1 6 , 5 9 9 2 1 9 , 6 9 4 248,327 Pr o g r a m s o f f e r e d N / A N / A N / A N / A N / A 2 3 2 1 4 5 1 5 5 1 7 0 164 Pr o g r a m p a r t i c i p a n t s N / A N / A N / A N / A N / A 4 , 1 9 6 3 , 5 3 7 3 , 8 6 9 4 , 1 0 0 3,604 De p u t y r e g i s t r a r ( D M V ) Mo t o r v e h i c l e t r a n s a c t i o n s 4 4 , 0 8 5 4 1 , 0 5 4 4 7 , 6 8 4 4 4 , 6 8 4 4 6 , 4 9 2 4 5 , 2 2 5 4 0 , 9 5 0 4 5 , 5 9 5 4 8 , 0 0 0 51,250 DN R t r a n s a c t i o n s N / A N / A N / A N / A N / A 5 , 3 0 7 5 , 5 8 0 6 , 0 0 0 6 , 5 0 0 5,982 Ga m e / f i s h t r a n s a c t i o n s N / A N / A N / A N / A N / A N / A 1 6 7 2 3 5 2 5 0 156 De a l e r s h i p s s e r v i c e d N / A N / A N / A N / A N / A 1 8 1 4 2 1 2 5 30 Dr i v e r s l i c e n s e s t r a n s a c t i o n s N / A N / A N / A N / A N / A N / A N / A N / A 4 5 0 605 N/ A – N o t A v a i l a b l e MG – M i l l i o n s o f G a l l o n s No t e : I n d i c a t o r s a r e n o t a v a i l a b l e f o r t h e g e n e r a l g o v e r n m e n t c i t y f u n c t i o n s . So u r c e s : V a r i o u s c i t y d e p a r t m e n t s Op e r a t i n g I n d i c a t o r s b y F u n c t i o n CI T Y O F M O N T I C E L L O Ca l l s f o r s e r v i c e ( e n g i n e e r i n g ) Pu b l i c w o r k s Ca l l s f o r s e r v i c e Fi s c a l Y e a r La s t T e n F i s c a l Y e a r s 9 5 a n d 9 6 20 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 Fu n c t i o n Pu b l i c s a f e t y Fi r e Fi r e s t a t i o n s i n s e r v i c e 1 1 1 1 1 1 1 1 1 1 Nu m b e r o f v o l u n t e e r s – – – – 3 0 3 0 3 0 3 0 3 0 30 Pu b l i c w o r k s St r e e t s ( m i l e s ) – – – – 5 2 . 4 6 5 . 7 6 7 . 6 6 7 . 6 6 8 . 0 68.0 Cu l t u r e a n d r e c r e a t i o n Pa r k s a c r e a g e – – – – – – – 1 2 0 1 8 0 509 Pa r k s 1 6 1 8 1 8 1 8 1 8 1 9 1 9 2 0 2 0 28 Pa r k b u i l d i n g s 8 9 9 9 9 9 9 1 0 1 1 15 Co m m u n i t y c e n t e r ( s q u a r e f o o t a g e ) 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 8 1 , 0 0 0 81,000 Wa t e r Fi r e h y d r a n t s 7 0 0 7 0 0 7 0 0 7 0 0 7 0 0 7 0 0 7 0 0 7 0 0 7 0 0 700 No t e : So u r c e s : V a r i o u s c i t y d e p a r t m e n t s N o c a p i t a l a s s e t i n d i c a t o r s a r e a v a i l a b l e f o r t h e g e n e r a l g o v e r n m e n t a n d e c o n o m i c d e v e l o p m e n t f u n c t i o n s . Fi s c a l Y e a r La s t T e n F i s c a l Y e a r s Ca p i t a l A s s e t S t a t i s t i c s b y F u n c t i o n CI T Y O F M O N T I C E L L O 9 7 a n d 9 8