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City of New Brighton Recommendations:
<br /> Fund Balance Analysis 1) This district has a zero cash balance,while paying off the IFL. This Is expected to sontinue until 2026.
<br /> TIF 27 Ken's Market 2) Budget Modification: Not Recommended.
<br /> 3) City needs to have documentation for bonded debt expenditures Inside the district for pooled debt.
<br /> General TWF District Informs bon
<br /> Or ipinal 1 YedMbstien
<br /> District Type Rede',elopment
<br /> Project Area
<br /> City wormer! 4/28/1998 12/13/2005
<br /> Cert Request 6/10/1998 N/A
<br /> Certified 1/22/1999 N/A
<br /> Decer80es 12/31/2026 12/31/2026
<br /> End of
<br /> Current District
<br /> Cumulative Projected Acctd for
<br /> Original Modified Actual In Prior Actual Actual Actual Actual Projected
<br /> Budget Budget Total Years 2007 2000 2009 2010 2011 2012 2013 2014 2016
<br /> Beginning Fund Balance 0 (291,261) (279,226) (264,662) (246,780) (226,844) (262,231) (263,437) (246,332) (237,288)
<br /> Revenues
<br /> Tax increment 850,000 1,400,000 754,977 183,457 28,771 32,510 35,307 34.447 32,635 27,190 27,190 27,190 27,190
<br /> MVHC 0 0 0 0 0 0 0 0 0 0 0 0 0
<br /> Invesbnent Earnings 0 140,000 '4,923) 1,105 546 439 187 425 (2,258) (2,622) (3,802) (4,907) (5,932)
<br /> Bond Proceeds 0 775,000 0 0
<br /> Other: Developer Fes 7,500 10,000 2,000 2,000
<br /> Other: Required Local Contribution 42,500 0 0 0
<br /> Transfer in 0 350,000 0 0
<br /> Total Revenues 900,000 2.676,000 662,064 186,662 29,317 32,949 36,494 34,872 30,377 24,668 23.388 22.263 21,268
<br /> Expenditures
<br /> Land/building acquisition 500,000 525,000 294,200 294,200
<br /> Site Improvements 127,000 25,000 0 0
<br /> Public utilities 0 65,000 0 0
<br /> Streets&sidewalks 15,000 0 0 0
<br /> Bond
<br /> Principal 0 775,000 42,560 4.992 2,656 2,739 2,791 2,905 3,071 3,237 3,320 2 822 5,727
<br /> Interest 0 465,000 11,436 0 1,619 1,532 1,420 1,317 1,196 1,062 916 773 563
<br /> Loan
<br /> Principal 0 0 0 0
<br /> Interest 123,000 465,000 301,799 130,981 11,652 11,173 10,578 9,824 10,217 10,487 10,136 9,811 9,490
<br /> Admin 110,000 140,000 52,911 41,970 1,354 2,832 (622) 455 1,057 987 912 833 741
<br /> County Admin 0 0 2,990 0 2,555 435 3eanne Vogt:
<br /> Other: Printing&Publication Exp 25,000 5,000 136 136 (Spending KM-
<br /> Transfer out 0 210,000 56,767 5,544 51,223� Stuart/NSEx
<br /> Total Expenditures 900,000 2,676,000 762,799 477,823 17,281 18.276 16,722 14,936 66,764 16,773 16,284 14,239 16,621
<br /> Projected Ending Fund Balance (80.745) (291,261) (279.226) (264.652) (246.780) (226.844) (262.231) (263.437) (246,332) (237.288) (232.661)
<br /> Beginning Cash Balance 0 0 0 0 0 29,621 0 0 0 0
<br /> Net Reveneus less Expenditures (291,261) 12,036 14,673 18,772 19,936 (36,387) 8,795 8,104 8,044 4,737
<br /> Interfund Loan Principal 291,295 (11,961) (14,875) (18,867) 9,824 6,766 (8,795) (8,104) (8,044) (4,737)
<br /> Changes in Balance Sheet (34, (75) 202 95 (1391
<br /> Ending Cash Belenos 0 0 0 0 0 29,621 0 0 0 0 0
<br /> l0 Management Review&Analysis-Tax Increment Financing Districts February 2012
<br /> New Brighton, Minnesota Page 152
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