ML083120226
| ML083120226 | |
| Person / Time | |
|---|---|
| Site: | Prairie Island  |
| Issue date: | 09/08/2008 |
| From: | Xcel Energy |
| To: | Office of Nuclear Reactor Regulation |
| References | |
| Download: ML083120226 (92) | |
Text
XcelEnergy-PRAIRIE ISLAND NUCLEAR GENERA TING PLANT LICENSE RENEWAL ENVIRONMENTAL REPORT ADDITIONAL INFORMATION Documents Requested During NRC Environmental Review Socioeconomics Binder I of I
Prairie Island Nuclear Generating Plant NRC Document Request List Item Number
-Document Jeff Rickhoff 57 Executed Revenue Stabilization Agreement between Xcel Energy and Goodhue County 60 Bjornstad, Ken. 2006. "Red Wing Area LOS Data" Hove, A. (Goodhue County Auditor/Treasurer's Office). 2006. "Property Tax Revenue 61 Information for Goodhue County."
Schlichting, K. (City of Red Wing). 2007. "Property Tax Revenue Information for the City 62 of Red Wing."
Page 1 of 1 Rev. 9/8/08
REVENUE STABILIZATION AGREEMENT BY AND BETWEEN GOODHUE COUNTY, MINNESOTA AND NORTHERN STATES POWER COMPANY DID/A XCEL ENERGY DATED: NOVEMBER 7,2006 194F 6vl PUWAL
TABLE OF COMTEMTs 0
Page
- 1.
PROPERTY TAX PAYMENTS GENERALLY.
3
- 2.
BASE YEAR AND BASE YEAR AMOUNT.
3 (a)
Base Year.........................................................................................................
3 (b)
Base Year.Amount............................................................................................
3 (c)
Example of the Base Year and Base Year Amount.........................................
3
- 3.
TERM OF A.
3
- 4.
HOST COMMUNITY STABILIZATION PROPERTY AND DOR (a)
Property Subject to Stabilization.....................................................................
3 (b)
Identification of Stabilization Property............................................................
4 (c)
DOR Market Valuation andA sm t.................................
A.esm........................
4
- 5.
STABILIZATION AND ABATEMENT PAYMENTS; TIMING, TRACICNG AND RECONCILIATION.............
... 4 (a)
Commencement of Stabilization/Abatement Payment(s)................................
4 (b)
Property Tax Stabilized to the Base Year pay level..............................................
5 (c)
Stabilization/Abatement Timing, Tracking and Reconciliation.......................
5 (d).
Duration of Tax Abatement............................................................................
7 (e)
Understanding Regarding Tax Abatement......................................................
8
()
Dispute Resolution............................................................................................
8
- 6.
FUTURE UTILITY PROPERTY ACQUISITIONS AND DIVESTITURES.......... S (a)
General Replacements and Additions..............................................................
8 (b)
Divestiture.............................................................................................................
8
- 7.
EXTRAORDINARY INVESTMENT(S).
8 (a) -
Definition...............................................................................................................
8 (b)
Application.............................................
9
- 8.
ADDITIONAL COVENANTS OF THE PARTIES..........
10 (a)
General Coopemtion Covenants........................................
10 (b)
Grants of Future Abatements......................................
10
- 9.
TERMINATION; EFFECT OF TERMATION 11 (a)
Term ination..........................................................................................................
1I (b)
Effect of Terzmanion......................................................................................
12 1947916VA SNAL
-i-
TABLEOF CO-NMENT (contin d)
(c)
Ext e
n sn 12
- 10.
REPRESENTATIONS OF THE PARTIES.
12 (a) pres tati ofns P......................................................................................
12 (b)
Rapresentations of the Host Community.............................................................
13 1I.
DISPUTE RESOLUTION.
14 (a)
Dispute Procedure(s): Discussion and Mediation.......................
15 (b)
Dispute Resolution: Arbitration....................................................................
15 (c)
Jurisdiction and Venue.....................................................................................
is (d)
Enforcement.................................................................................................
16 (e)
Applicability........................................................................................................
16
- 12.
MISCApbOUS.............................
16 (a)
Survival of Representations, Covenants and Agreemnts........ *................... 16 (b)
N otices.................................................................................................................
17 (c)
Entim Agreement...........................................................................................
18 (d)
A m endm ents........................................................................................................
18 (e)
Successors and Assigns........................................................................................
18 (f)
Fees andExpenses.....................................................................................
8 a (g)
Governing Law and Venue...........................................................................
18 (h)
Counterparts and FacsimilelBlectronic Signature............................................
19 (i)
Headiugs and Certain Terms......................................................................
.. 19
- 0) savwAbfy.......................................................................
.......... t
()
i 19 (k) Partiesinlterest...........................
19 (1) waiver...................
19 (m)
Construction.....................................
19 (n)
Specific Pefonance................................
20 (o)
Condition to Eftectiveness of.Agrement...........
.......... 20 (p)
StateGeneral Tax..............................................................................................
20 (q)
Savings Clau s...............................................................................................
20 (r)
Regula Meetings..........................................
20 19479tIvt FPAL
-ii-
REVENUE STABIIZ7ATION AGREEMENT THIS REVENUE STABILIZATION AGREEMENT (this "Agreement") is entered into as of the 7b day of November, 2006 by and between the County of Goodhue, Minnesota (the "County" or the "Host Community") and Northern States Power Company d/b/a Xcel Energy, a corporation existing and governed under the laws of the State of Minnesota ("NSP").
The Host Community and NSP may be collectively referred to herein as the "Parties" and each individually may be referred to herein as a "Party."
PURPOSE NSP owns the Prairie Island nuclear power plant. The power plant operates as a baseload plant which is operated continuously without interruption, except for periods of time required for maintenance and refieling outages. The utility property tax revenues from this plant constitute a significant portion of the tax base of the Host Community and the Host Community is significantly impacted by changes in utility property tax policy. The Host Comimunity has in recent years experienced a decline in its property tax base revenues.
As a consequence of the uncertain nature of regulatory, administrative, statutory and judicial developments that may affect the future valuation o4 and assessment of taxes upon, property owned by utilities within the State of Minnesota, which are reasonably anticipated to create a degree of instability and uncertainty in the revenue base of the Host Community, the Parties are entering into this Agreement for the purposes of, among other things: (1) promoting in the public interest a stable and controlled revenue stre, am for the Host Community, (ii) promoting a stable and controlled expense base for NSP, (iii) providing a basis for long-term budgetary planning of revenues and expenses for each of the Parties to this Agreement, and (iv) continuation of NSP's responsible and proactive stewardship of costs to utility customers.
RECIrALS A.
Utility property owned and operated by NSP that is located within Goodhue County is subject to property taxes imposed under Applicable Laws of the State of Minnesota, including without limitation, (1) Chapter 272, _4 leg, of the Manesota State, and
('H) bfinnesota Rules Chapter 8100, in each case as amended. Minnesota law requires that all property be valued at its "market value' pursuant to MINN. STAT. §§273.1 1, Subd. 1, 273.12, and 272.03, Subd. 8, in each case as amended.
B.
The existing rules within Applicable Law governing valuation and assessment of utility property taxes within the State of Minnesota (the '"lRe" or the "Rules") have generated ongoing controversies and litigation challenging, among ote things, the market values of utility property assessed by the State of Mimesota and the assessment of utility property. In an ostensible effort to address such controversies, the Minnesota Department of Revenue (the "DORW) published a request for comments on possible amendments to the Rules governing valuation and assessment of property owned by utilities and has established a rulemaking process by which the DOR may recommend changes to the Rules.
1947916VI FINAL
C.
NSP and the Host Community, have in the past and will in the future pursue changes to the dinnesota Statutes and Rules governing utility property valuation and assessment (i) to assure accurate reflection of market value(s), and (n) that they believe are equitable and warranted on behalf of their respective customers and taxpayers. Notwithstanding these efforts, NSP and the Host Community desire to also facilitaft stable and predictable revenue and expense streams for, respectively, the Host Community and NSP.
D.
In the event that there is a change in or to utility property tax valuation and assessment Rules with respect to NSP utility property, it is possible that the Host Community could experience a substantial reduction in propertytax revenues.
E.
Recognizing that changes in the Rules governing the valuation o4 and the assessment of utility property tax on, utility property may result in a significant detriment to the Host Community, and to lessen the impact of any such changes, the Parties have agreed upon certain revenue and expense stabilization measures set forth herein by which the Parties seek to achieve uniform utility property tax revenue streams for the Term set forth in and defined by this Agreemet.
F.
As an integral and essential legal consideration with respect to the Parties' purpose hereunder to stabilize utility property tax revenues and expenses pursuant to the provisions of this Agreement, the Parties have agreed that the )ost Community shall authorize the Abatement Payments that may arise under Section 5 of this Agreement pursuant to the.
statutory authority for such payments granted in and by MrNN. STAT. §§ 469.1813 through 469.1815, as amended (collectively, the "Abatement Statutes'). The abatement authorization adopted by the Host Community is attached hereto and incorporated by reference herein as Exhibit A to this Agreement G.
At the time of this Agreement, the Parties are unable to predict with any certainty the outcome or the economic impact, if any, of (i) controversies that may arise with respect to, or matters that may be litigated concerning, utility property valuation and assessment, and/or (ii) changes to the Rules which affect the respective utility property tax burden or benefit to the Host Community and/or NSP.
K The Parties' general understaning of the purposes and term of this Agreement is set forth in that certain non-binding Meandn of Undersadin dated June 21, 2006 (the "Memorandum of Understandng)% which is suprseded in its entirety by this Agreement L
This Agreement does not apply to the state general tax, and any other tax and/or assessments, that may be now or in the future set fot on the Goodhue County property tax statement, other than the utility property taxes of the Host Community as described herein.
NOW, THEREFORE, in consideration of the (i) foregoing Purposes and the Recitals, each provision of which is incorporated by reference as essential terms and des gs of and with respect to this Agreement, (ii) the covenants of the Parties set forth herein, and (iii) other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows:.
FIN16AI FWlAL 2
- 1.
Propertv Tax Payments Generally. During the Tenm of this Agreement (as defined in Section 3 hreof), NSP shall remit the properly computed and undisputed amount of property tax set forth on the property tax statements issued by the County on or before the payment due dates specified in the applicable property tax statements. Based on present requirements, property tax payment due dates are May15 and October 15 of each year. In the event that NSP disputes the valuation and/or property tax assessed by the State of Minnesota and/or the County, respectively and-as applicable, NSP shall follow Applicable Law in contesting the property tax assessed.
Resolution of the foregoing shall be reflected in the tracking of the yearly calculations arising from this Agreement as set forth in Section 12(q) hereof
- 2.
Base Year and Base Year Amount. The primary objective of this Agreement is to stabilize utility property revenues of the Host Community for a fixed term based on a certain point-in-time and in an amount certain. For purposes of this Agreement such point-in-time is the "Base Year" and the amount certain is the "Base Year Amount," as each are defined below.
(a)
Base Year. The "Base Year" is the assessment year that the Rule changes currently under consideration by the DOR will take effect.
(b)
BaseoYear Amount The "Base Year Amount" is the total of the amount of utility property tax paid in the Base Year by NSP solely with respect to the Host Community for the specific property tax parcels identified as "Stabilization Property' (as defined in Section 4), subject to a divestiture adjustment. The Base Year Amount is calculated by example for the year 2006 as set forth in Exhibit B to this Agreement Once the Base Year is determined, the Parties shall amend such Exhibit B to reflect the calculation of the actual Base Year Amount.
(c)
Example of the Base Year and Base Year Amount If the DOR Rule changes are implemented for assessment in the year 2007 for utility property tax payable in 2008 (i) the BaseYear is 2007, and (ii) the Base Year Amount is the amount of utility property taxes paid by NSP to the Host Community in 2007.
- 3.
Term of Agreement. Subject to the termination provisions of Section 9 below, the tmn of this Agreement will be ten (10) yea after the Base Year, if the Rule changes currently under consideration by the DOR are enacted, effetive under Applicable Law and implemented for assessment in the year 2007; Mid hwe
, if such Rules are so implemented and effective for assessment in any year.later than 2007, this Agreement shall terminate not later than December 31, 2018 (the "Term").
- 4.
Host Community Stabilization Propertv and DOR Assessment.
(a)
ProMert SubiMeet to Stabilizaion. The Parties have determined by mutual agreement the specific NSP utility property that is subject to the stabilization and/or abatement provisions hereof It is the intent of the Parties to assure that all NSP property subject to utility property tax-will be taxed either through the state DOR procedures or at the local level, without duplication. NSP utility property that is taxed at the local level is not subject to the stabilizatIon and/or abatement provisions of this Agreement.
1947916v4 MINAL 3
(i)
The NSP utility property subject to stabilization pursuant to this Agreement (the "Stabilization Property" or "Stabilized Property") is the plant operational property located in the Host Community that is (A) valued by the DOR, 03)subject to the utility property tax, and (C) not subject to local assessment (that is, the non-operating property, such as land and certamn buildings, that is locally assessed).
Property subject to stabilization is identified in Exhibit B to this Agreement, as refereced in Section 4(b) below.
(ii)
The NSP utility property located in the Host Community that is not subject to stabilization pursuant to this Agreement is (A) property subject to local assessament, including land utilized for the plant and the buffer land (including the buildings situated an such buffer land) and the training centers, (B) transmission and distribution facifities and other personal property valued by the DOR that (x) arc located in the Host Community, and (y) are not located at the operating plant, (C) other property and structures in the Host Community that are not directly associated with the plant generating facility, and (D) construction of a new generating unit(s) onan existing plant site or on a now plant site.
(b)
- dentification of Stabilization PronE
- t.
The Stabilization Property that is subject to stabilization and/or abatement pursuant to the principles set forth above in Section 4(a) is identified by the specific property tax statenmt(s) that are assigned a specific property tax identification parcel number as set forth in ExhibtB to this Agreement.
(c)
DOR Market Valuation and Assessment The property subject to stabilization and/or abatement will be assessed by parcel identification number in accordance with the DOR valuation methodology. Any disputes between the Parties with respect to the impact of actions by the DOR that affect property classification, particularly the uniformity of Stabilization Property for comparison purposes during the Term of this Agreement, will be resolved by the dispute resolution provisions set forth in Section 11 of this Agreement The utility property tax associated with a Stabilization Property parcel number that is subject to stabilization and/or abatement is confined to that portion of thetotal utility property tax which is allocated solely to the Host Community.
- 5.
Stabilization, and Abatement Payments:
Thunar.
- Trackin, and Reconcfon.
(a)
Commencement of Stabilization/Abatement Payments).
The first year that utility property taxes payable to the Host Community by NSP on Stabilization Property are subject-to stabilization/abatement payments by a Party hereto will be the year following the Base Year. For example, if the DOR Rule takes effect as of January 2, 2007 for the assessment year 2007 (the Base Year) payable in 2008, then the first year subject to stabilization/abatement payments by a Party hereto will be for utility property taxes payable in, 2008. The determination of this mmenement year will not be affected by a "phase-in" period(s) included in the DOR Rule changes, if any.
19479151 PlRAL 4
(b)
Propertv Tax Stabilized to the Base Year pay level (i)
The Utility Pronerty Tax avable by NSP on Stabilization Property is less than the Base Year Amount (Stabilization Pam*ent). In the event that the utility property tax on Stabilization Property in any year during the Term is less than the Base Year Amount, NSP will remit to the Host Community the difference between the higher Base Year Amount and the lower utility property taxes on Stabilization Property paid by NSP to the Host Community (a "Stabilization Payment"), subject to offset due to tracking of unpaid Abatements (defined in Section 5(b)(ii) below), reconciliation of Abatements at the end of the Term and the effect of Extraordinary Investment and future divestiture provisions described below in this Section 5.
Cd)
The Utility Proep y Tax Payable by NSP on Stabilization Property is over Base Year Amount pay level (Abatement Pament). In the event that the utility property tax on the Stabilization Property in any year during the Term is greater than the Base Year Amount, the Host Community will remit to NSP the difference between the higher utility property tax paid by NSP to the Host Community and the lower Base Year Amount pursuant to Minn. Stat. §§ 469.1813-1815, as amended (an "Abatement Payment" or an "Abatement"),
subject to offset due to the deferral and tracking of unpaid Abatements, reconciliation of Abatmecnts at the end of the Term and Extraordinary Investment and future divestiture provisions described below in this Section 5.
(iii)
Host Community Notices and Statements. The Host Community will provide (A) truth in taxation notices in accordance with Applicable Law and consistent practice, (B) the property tax statements relating to all DOR assessed property and locally assessed property, and (C) invoice(s) and detailed calculations to NSP for Stabilization Payments, Abatement Payments and deferrals determined to be (i) payable to either the Host Community or NSP, and/or (i) deferred for payment to a later date, no later than April 1 of each calendar year during the Term. NSP shall have the right to review and raise objection(s) to the Host Communities' calculations within forty-five (45) days of receipt of the information and documentation provided by the Host Community purmant to subsentence C immediately above. In the event that such calculations, and the effect of such calculations, cannot informally be resolved, the Parties will utilize the dispute resolution procedures set frth in Section 11.
(c)
Stabilization/Abatement Timing Trackina and Reconciliation.
(i)
Payment of Stabilization and Abatement payments. If the utility property tax paid on Stabilization Property by NSP to the Host Community in a particular year during the Term respectively exceeds or is less than the Base Year Amount and:
(A) an Abatement Payment becomes due from the Host Community, any such payment will be made in two (2) installments on or 1947916vt FINAL 5
before July 31 and December 31 in the year following the year in which the utility property tax payment was (or was to be) timely paid by NSP, or (B) a Stabilization Payment becomes due from NSP, such payment will be mad& in two (2) equal inmn s direety to the Host Community on or before the regularly scheduled utility property tax payment date(s) in the applicable payment year.
Whether an Abatement Payment or Stabilization Payment becomes due and payable is subject to the deferral and tracking, reconciliation, Extraordinary Investment and future divestiture provisions described below.
(ii)
Tracking of Stblization and Abtament Aou" "Trackis applies to the situation where the utility property tax on Stabilization Property paid by NSP in any particular year with respect to the Host Community exceeds the Base Year Amount and results in an Abatement Generally, an Abatement require payment of the Abatement amount by the Host Community to NSP as set forth in Section 5(c)(1) above; i
however, in the event the amount of the Abatement in that year, plus all prior Abatement amounts (less any offsets for stabilization amounts), does not exceed more than fifteen percent (15%) of the Base Year Amount (the "Abatement Payment Threshold"), no Abatement Payment will currently be payable by the Host Community until reconciliation at the end of the Term unless, and only to the extent that, the cumulative amount of Abatements (less any offsets of stabilization amounts as described in Section 5(c)(h')(C) below) exceeds the Abatement Payment Threshold. If the yearly and aggregate net amount of the Abatement(s) does not exceed the Abatement Payment Threshold, it will be "tracked" on a year-by-year basis until the Abatement Payment Threshold is exceeded.
"(A)
In any year that the Abatement Payment Threshold is exceeded by the tracked aggregate Abatement(s), then the Host Community shall remit the amount in excess of the Abatement Payment Tbheshold to NSP in the year following the year in which the specified percentage is exceeded as described in Section 5(c)(i) above.
(B)
- In any year doring the Teom that a Stabilizatio Payment becomes due, and there exists an unpaid Abatement that is-being tracked below the Abatement Payment Threshold, NSP shall have the right to offset such cumulative Abatement against the Stabilization Payment that would otherwise be payable pursuant to the provisions of Sections 5(b)(i) and 5(c)('u)(B) above.
(iii)
Reniliation. At the end of the Term the aggregate amount by which the utility property tax and Stabilization Payment(s) remitted-by NSP to the Host Community exceeds the aggregate Base Year Amount during the Term (the Base Year Amount times the number of years of the Term to the. date of termination of this Agreement) (the -Excess Payments-) will be-reconciled. The 1947916v1 M4AL 6
sum of the Excs Payments made by NSP during the Team less (A) the amount of any Abatement in an HI (Extraordinary Investment) Year (defined in Section 7 below) and th y=n following an El Year, net of accrued and/or offset NSP Stabilization Payment obligations to the Host Community after any El Year, and (B) the Abatement Payments made by the Host Community to NSP, will equal the final "reconciliation" amount upon which a payment(s) to NSP by the Host Community would be based.
The Parties acknowledge and agree that reconciliation does not apply to Stabilization Payments to be made by NSP because NSP remits all Stabilization Payments on a current basis, subject to offset for outstanding tracked Abatement amounts.
Provisions of the Host Community's authorizing resolution relating to Abatement, including reconciliation payment(s) to be made by the Host Community shall be drafted to conform to Minnesota Statutes that govern property tax abatement by local governmental units.
(iv)
Intered on Deferred Abatement Pavments.
Any Abatement Payments delayed for a period of one (1) year or more as a consequence of the tracking and/or reconciliation principles set forth above will be subject to simple interest at the mid-term Applicable Federal Rate in effect on the date the Abatement would have otherwise become due and payable but for the provisions of this Section 5(b). The Host Community will calculate and document such interest and will submit the calculations and payment, if applicable, to NSP.
Schedule W(NW)lv) sets forth an example of an Abatement Payment and delayed payment principles and an interest calculation example for delayed Abatement Payments.
(v)
Examples of Tracking, Payment and Reconciliation Principles.
(A)
Schedule 5(c)(v)(1) sets forth an example of the tracking, payment and reconciliation principles described above, without an Extraordinary Investment Abatement. (Note that this example does not include an example of the Extraordinary Investment principles.)
(B)
Schedule 5(c v()(2 sets forth the reconciliation principles described in Section 5(Xmiii) above with an Extraordinary Investment Abatement and a subsequent year Stabilization Payment offset.
(d)
Duration of TaxLAbatement. The tax Abatement period, if any, shall not exceed ten (10) years, except as allowed by Applicable Law and as required herein. The tax Abatement period will commence, if at all, in the first year in which the Host Community remits Abatement Payments. In the event of termination of this Agreement, all provisions of Section 5 of this Agreement which authorize the tax Abatement shall also terminate, except for Abatement Payments that are determined to be owed to NSP by the Host Community as of the date of termination.
1947916v0 FINAL 7
0 (a)
UndeMtanding ReaMfii Tax Abaten~el It is the intent and understanding of the Parties hereto that this Agreement, and specifically the provisions of Section 5 of this Agreement, shall be deemed a valid, legal, binding and enforceable abatement agreement for economic development with respect to the Host Community as cotemplated by and unde MINN. STAT. §§ 469.1813 through 469.1815, as amended. In the event that for any reason the Parties' intent and understanding as expressed heve above is determined to be incorrect and the Host Community is unable to perform its payment obligation(s) under this Section 5 due to any final, enforceable and non-appealable judicial, legislative or other authoritative detennination(s) that the Abatement Payments cannot be made in accordance with Applicable Law as required by this Agreement, then NSP (i) may, at its option, teminate this Agreement within thirty (30) days of such determination(s), and (ii) shall be contrctually entitled, to repayment of Stabilization.Payments by the Host Community of the lesser amount of either (A) the Stabilization Payments made by NSP to the Host Community pursuant to -this Agreement, or (B) the Abatement amount(s) that the Host Community is unable to remit to NSP pursuant to the circumstances described above. The foregoing contractual repayment right shall survive any termination of this Agreement.
(f)
Dispute Resoluion. Any disputes between the Parties with respect to the impact of actions by the DOR or the Minnesota legislature that affect the Stabilization Payment and Abatement terms and calculations set forth in this Agreement subsequent to the date of this Agreement will be resolved by the dispute resolution provisions of Section 11 below.
- 6.
Future Utility Property Acquisitions and Divestitures.
(a)
General R !lacements and Additions. General replacements and additions to Stabilization Property (those not defined -as an Extraordinary Investment) in property tax assessment years subsequent to the Base Year will be taxed under the agreed upon property tax parcel identification nmnber tax statement(s) set forth in Exhibt B to this Agreement pursuant to the DOR Rules and procedures. In this instance there shall not be a change to the Base Year Amount.
(b)
Diygg A "divestiture" in assessment years subsequent to the Base Year will require reduction of the stabilized Base Year Amount as a consequmm of.
(i) sale of a material portion, but less than all, of the Stabilized Property, or (ii) destrution or, significant impairment of a material portion of the Stabilized Property, or (iii) an event that renders a plant generating -unit that is Stabilized Property substantially non-operationaL The Parties hereto shall negotiate in good faith to calculate and agree upon-such a reduced Base Year Amount If no such agreement canbe reached, the Parties shall utilize the dispute resolution provisions set forth in Section 11 of this Agreement.
- 7.
ExtR rdiary Itmentds)
(a)
D "Extraordinary Investment". is defined as a capital investment in the plant pursuant to a specific plant utility capital investment project that
- 1947916vl pUa" 9
results in a "significant increase" in the Market Value of the Stabilization Property from points in time described in Section 7(b). A "significant increase" is agreed by the Parties to equal an amount in excess of seven percent (7%).over the Market Value of the previous year (or years in the case of multi-year capital investment projects), subject to the aggregation of construction work in process that is placed in service and vahled by the DOR over a period of years (in which case Abatement Payments may be subject to deferral, and ultimately subject to the provisions of Section 7(b)(iii) below). The Host Community will generally receive written notice of such planned investment from NSP one (1) year in advance of the physical on-site comme ncemt of any such Extraordinary Investment project. Extraordinazy Investment projects will be tracked and aggregated for yearly comparison hereunder. The definition of Extraordinary Investment shall not include the general replacements and additions described in Section 6(a) above.
(b)
A ic An Extraordinary Investment (i) applies to a specific plant utility capital investment project, whether new equipment or replacement/reflubishment of existing equipment, and (ii) represents a significant increase (as defined in Section 7(a) above) of the DOR Market Value of the Stabilization Property between a "Year X" reference point-in-time and a subsequent "Year X+ construction completion or a CWIP (defined below) year" (the "El Year") comparison point-in-time:
(i)
The "Year X" referenc point-in-time is the Market Value of the Stabilization.Property for the assessment year immediately prior to the commencement year of the Extraordinary Investment project (ii)
The comparison point is the Market Value of the Stabilization Property for the assessment year immediately after the year the Extraordinary Investment project is classified as "in service" or valued as Construction Work in Process ("CWIP").
For example, if Stabilization Property is classified "in service"' or as taxable CWIP in 2007, it would be assessed as of assessment year 2008, taxes payable 2009, (iii)
If utility property taxes paid by NSP exceed the Base Year Amount and result, in an Abatement arising from an Extraordinary Investment, then the following provisions apply in deteraining whether Abatement Payments and Stabilization Payments are required to be asmied and/or remitted in any subsequent year during the remainder ofthe Term:
(A)
Any unpaid Abatement Payments accrued up to the year of completion of the Extraordinary Investment remain subject to the tracking and reconciliation provisions described in Section 5 above.
Any Abatement calculated (i) while a specific plant utility capital investment project is unfinished and in the process of completion, where such project is reasonably anticipated in the aggregate to exceed seven percent (7%) of the "Year X" reference year, and (Hi) certain property of the unfinished project is placed "in service" for DOR Market Value purposes in a year that is prior to the completion year, the Abatement Payment will be 1947916vi FMNAL 9
deferred until completion of the project and the calculation as to whether the aggregate amount of the project resulted in a "significant increase."
(B)
If utility property taxes exceed the Base Year Amount and result in an Abatement arising from an Extraordinary Investment, the amount of the utility property tax above the Base Year Amount which arose as a consequence of the Extraordinary Investment will not bo subject to the Abatement payment provisions of this Agreement, but will be tracked and applied against any future Stabilization Payment amount in subsequent years.
(C)
If utility property taxes exceed the Base Year Amount as a result of an Extraordinaxy Investment, NSP and the Host Community will discuss renegotiation and continuation of this Agreement with the following options:
Ci)
.Terminate this Agreement In such event, NSP will continue to remit its utility property taxes as calculated through normal procedures and the past Abatements preserved in the tracking process will be reconciled and paid in accordance with the tracking and reconciliation provisions of this Agreement, or (ii)
Negotiate an amendment to this Agreement based on mutually agreeable adjusted stabilization base levels.
- 8.
Additional Covenants of the Parties.
(a)
General Cooperation Covenants. To the extent allowed by Applicable Law, NSP and the Host Community shall coopeiate and assist each other in the implementation, tenance, defense and performance of this Agreement. Each of the Parties shall promptly advise the other Parties with respect to -any information, data and contacts with respect to Applicable Laws or any related matter that is received, communicatedto or brought to the attention of NSP and/or the Host Community that could be reasonably anticipated to affect the operation of this Agreement. All actions takn or omitted to be takeim by NSP and/or the Host Community shall be with th intent to directly include the other Party in all matters arisin from or in connection with. the subject matter and purpose(s) of this Agreement It is understood and agreed that the Parties shall act in a manner that is consistent with the intent and purposes of this Agreement (b)
Cram of Futue Abt From and after the date hereof through the end of the Tern, the Host Community shall not take any action or omit to take any action that does or have the effect to limit or eliminate the amount of the Abatement Payments that are authorized to be made to NSP heretnder, including (i) the grant of any tax abftments under MINN. STAT. §§ 469.1813 through 469.1815, as amended, which would have any priority over, or otherwise abrogate in any way, the tax abatement granted with respect to this Agreement, (hi) adopt any Applicable Law, contrary in any way to the 1947916VI PflIL 10
purpose, intent and operation of this Agreement with respect to the tax abatement described herein, or (iii) otherwise take any actions, or omit to take action that, though lawful, would breach the obligations of the Host Community under this Agreement with respect to the tax abatement described herein. In furtherance of the foregoing, any tax abatement resolution adopted by the Host Community, or any resolution that is adopted that may affect the Host Community's performance of its Abatement Payment obligations to NSP hereunder, shall specifically state that any and all third party abatement arrangements by (or on behalf of) the Host Community shall be subordinate to the right of NSP to receive Abatement Payments.
- 9.
Termination: Effect of Termination.
(a)
T This Agreement shall be terminated prior to the end of the Term of this Agreement in the event of any one or more of the following:.
(i)
The joint written agreement of NSP and the Host Community, or (ii)
This Agreement or any significant provision hereof is determined to be unlawful, unenforceable. or otherwise in material contravention of Applicable Law, including the circumstances described in Section 5(e);.or (iii)
The Rule changes currently under consideration by the DOR are not enacted, effective under Applicable Law and implemented on or before December 31, 2008; or (iv)
The abatement legislation enacted in the 2006 legislative session by the State of Minnesota is amended or repealed such that the payment of Abatement obligations by the Host Community as contemplated by this Agreement are no longer authorized or lawful, in whole or in part; or (v)
The property tax system in the state of Minnesota is abolished or fimdamentally revised by the legislature or the DOR, such that, for example, NSP Stabilization Property is no longer valued by the DOR or such valuation system is substantially changed, including a (x) material change in the tax classification rates enacted and/or promulgated, as applicable, by the Minnesota legislature (or its delegated agency or political subdivision), or (y) materiallegislative change in the definition of state assessed property. The level of materiality (by amount and/or percentage) will be resolved in discussions between the Host Community and NSP; or (vi)
A generating unit ceases operations or an event of Force Majeure occurs which interrupts operations of the power plant for a period of more than one (1) year; or (vii)
The Host Community becomes entitled to any form of substitute revenue due to reduced utility property tax revenues, such as a "replacement' tax, fee or similar revenue source enacted to supplement revenue to the Host Community and other governnental bodies. A tax, fee or other similar revenue 1947916vI FINAL 11
source, such as a sales tax, that does not affect only utilities (or its customers) or select industries, and is broad based, will not constitute a "replacement tax"ie local governmental aid, state program aid, or other general state aids). For purposes of this Agreement, an electric or gas franchise fee will not consitute a substitute revenue; or (viii) If NSP or the Host Community breaches certain material representations and/or warranties under this Agreement, in each case only at the opto of the non-breaching Party.
(b)
Effect of Ternion.
- 0)
Payment obligations are discoutinued, except the payments that are due and owing on the termination date, or would become due and owing by virtue of reconciliation (as if the Abatement tracking and reconciliation amounts were payable at the end of the Term).
(ii)
If payments are unlawful, the Parties are to be put in a position that is fair and equitable. May include repayment by Parties receiving monies prior to the teinna on.
(c)
F9M. During or subsequent to the Term, the Parties may discuss extension of this Agreement and reach mutually agreeable terms for such an extension.
The Parties acknowledge and understand that (i) there is no assurance that the Parties will reach mutually agreeable terms for an extension of this Agreement, and (ii) any such extension, to become effective, will require a writing executed by each of the Parties.
- 10.
Representations of the Parties.
(a)
Rem-esentations of NSP.
NSP hereby represents and warrants the following:
(i) t NSP is a corporation duly organized, legally existing and in good standing under the laws of the State of Minnesota. NSP has all requisite power and authority, corporate and otherwise, to own, operate and lease its properties and assets and to conduct its business as it is now being conducted (h')
DueAugmizati The execution, delivery and performamn of this Agrement, including the documents, instruments and agreements to be executed and/or delivered by NSP purnsat to this Agreement, and the consummation of the ttansactions contemplated hereby and thereby have been duly and validly a orized by all necessary action, cotporate or oftrwise. Tis Agreement has been duly and validly authorized, executed and. delivered by NSP and the obligations of NSP heunmder and thereunder are or will be upon such execution and delivery valid, legally binding and enforceable against NSP in accordance with its terms.
19M7916vt FDNAL 12
(ii)
No Breac' NSP has fill power and authority to otherwise perform its obligations under this Agreement. The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby and thereby will not: (A) violate any provision of the Articles of Incorporation, as amended and restated, or Bylaws, as amended, (or comparable governing documents or instruments) of NSP, (B) violate any Applicable Law applicable to NSP, (C) except as set forth in Schedule 10(a)(hI') which is attached hereto and incorporated by reference herein, require any filing with, permit from, authorization, consent or approval of, or the giving of any notice to, any person or entity, or (D) result in a violation or breach of4 or constitute (with or without due notice or lapse of time or both) a default (or give another party any rights of termination, cancellation or acceleration) under any of the terms, conditions or provisions of any note, bond, mortgage, indenture, license, franchise, permit (including, but not limited to, any permits, approvals or authorizations of any governmental body), leased real estate lease, benefit plan or other contract to which NSP is a party, or by which it or any of its properties or assets may be bound.
(iv)
Permits,. Consents and Aoprevel.
NSP has obtained any and all permits, authorizations, consents, approvals and/or waivers required for NSP to lawfully and without violation of Applicable Law or breach or violation of any contractual or other right of any third person or entity (excluding the other Parties to this Agreement) (A) execute and deliver this Agreement, and (B) perform and otherwise consummate the transactions contemplated by and pursuant to this Agreement, including all covenants hereof.
(b)
Representations of the Host Commun.ty. The Host Community represents and warrants:
(i)
Oraiang The Host Community is a political body duly organized and legally existing under the laws of theState of Minnesota. The Host Community has all requisite power and authority, corporate and otherwise, to own, operate and lease its properties and assets and to conduct its governmental affairs as they are now being conducted CH)
Duo uh jo The execution, delivery and perftrnma of this Agreement, including the documents, instruments and agreements to be executed and/or delivered by the Host Community pursuant to this Agreement, and the consummation of the transactions contemplated hereby and thereby have been duly and validly authorized by all necessary action, corporate or otherwise.
This Agreement has been duly and validly authorized, executed and delivered by the Host Community and the obligations of the Host Commnunity hereunder and thereunde are or will be upon such execution and delivery valid, legally binding and enforceable against the Host Community in accordance with its terms.
(Iii)
No The Host Community has full power and authority to otherwise perform its obligations under this Agreement.
The execution and 1947916Y1 FINAL 13
delivery of this Agreement and the consummation of the transactions contemplated hereby and tmeeby will not (A) violate any governing documents, as anended, (or comparable governing documents or instmuents) of the Host Community, (B) violate any Applicable Laws applicable to the Host Community, (C) except as set forth in Sehedule 10(b(iOih which is attached hereto and incorporated by refer herein, require any filing with, permit fiom, authorization, consent or approval of; or the giving of any notice to, any person or entity, or (D) result in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give another party any rights of termination, cancellation or acceleration) under any of the terms, conditions or provisions of any note, bond, mortgage, indenture, license, franchise, permit (including, but not limited to, any permits, approvals or authorizations of any governmental body), leased real estate lease, benefit plan or other contract to which the Host Community is a party, or by which it or any of its or assets may be bound.
(iv)
Permits. Consents and ovats The Host Community has obtained any and all pmi authorizations, consents, approvals and/or waivers required for the Host Community to, without violation of Applicable Law or breach or violation of any contractual or other right of any third person or entity (excluding NSP), (A) execute and deliver this Agreement, and (B) perform and otherwise consummate the transactions contemplated by and pursuant to this Agrement, including all covenants hereof.
(v)
Co Hliance with Abatement Statutes. The Host Community has acted and complied in accordance with the Abatement Statutes such that the Host Community has the specific legal, binding and valid authority to perform in accordance with this Agreement and, specifically, to perform and make payments to NSP in accordance with the provisions of Section 5 hereof In furtherance of the foregoing, the Host Community has, concurrently upon the execution and delivery of this Agreement, delivered to NSP the written action(s) of the Host Community authorizing resolutions and enactments, which weo adopted in accordance with Applicable Law of the State of Minnesota and attached hereto as Fxjbt A to this Agreement, including those evidencing compliance with the Abatement Statutes.
(vi)
Cumulative Tax Abaement Obligatio.
ScedulewI0b)(vfl sets forth any and all (i) Abatements adopted and granted by the Host Community as of the date hereof, (Hu) the amount of such Abatements in the aggregate and by year (current and fMture), and (iii) dhe amount of the curent levy and a computation of the percent of the. currn levy of the aggregate of such Abatements in each year that is or may be affected by such Abatement.
- 11.
Dlspute Resolution. In the event a dispute arises under this Agreement, except with respect to (i) equitable remedies that may be pursued under this Agreement (such as, without limitation, requiring the production of documents and inr ion required under Section 5(b)(ihi) and preventing certain third-party abatement grants described in Section 8(b)),
1947916vL 14
and (ii) late payment of undisputed Stabilization Payment(s) and/or Abatement Payment(s), such disputes shall be resolved in the mannr set forth in this Section 11. Disputes with respect to property taxes generally are not subject to this Section 11 and shall be determined in accordance with the provisions set forth in Sections 1 and 12(q) of this Agreement.
(a)
Disnute Procedures): Discussion and Mediati If a dispute arises under this Agreement, including any question regarding the existence, validity. interpretation or terrination hereof which is not described as an exception in this Section 11, the Host Community and NSP may invoke the dispute resolution procedure set forth in this Section 11 by giving written notice to the other Party. The Parties shall enter into discussions concerning this dispute. If the dispute is not resolved as a result of such discussion in ten (10) days, an attempt will be made to resolve the matter by a formal nonbinding mediation with an independent neutral mediator agreed to by the Parties 'If the Parties cannot agree on a mediator within a period often (I0) days after expiration of the ten (10) day period for resolution by discussion, then either Party may apply to any court of competent jurisdiction for appointment of a mediator, which appointment shall.
be binding and non-appealable. Upon commencement of the mediation process, the Parties shall promptly communicate with respect to a procedure and schedule for the conduct of the proceeding and for the exchange of documents and other information related to the dispute. The mediation process shall be deemed ended if the dispute has not been resolved within thirty (30) days after appointment of the mediator.
(b)
Dispute Resolutiow: Arbitration" All claims, disputes or other matters in question between the Parties to this Agreement that are subject to the provisions of thisSection II which are not resolved by mediation in accordance with Section 1I(a) within thirty (30) days after appointment of mediator shall be submitted for, subject to and decided by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association currently in effect as of the date of this Agreement
("AAA Rules"), except to the extent those rules are inrmosistent with this Section 11.
Any arbitration must be held in Minneapolis, Minnesota by a single arbitrator mutually selected by the Parties hereto or, if the Parties hereto cannot agree on the appointment of such arbitrator within ten (10) days following the date notice of the dispute is given by a Party to the adverse Party, an arbitrator selected according to the AAA Rules. The arbitrator's award shall be final, canclusive and binding upon all Parties to this Agreemnt, and judgment may be entered upon it in accordance with the Federal Arbitration Act in any court of general jurisdiction in Minnesota, or in any United States" District Court having jurisdiction in Minnesota. The arbitrator shall be required to provide in writing to the Parties the basis for the award or order of such arbitrator, and a court reporter shall record all hearings (unless otherwise agreed to by the Parties), with such record constituting the official transcript of such proceedings. NSP and the Host Community specifically desire this arbitration clause to be governed by the United States Federal Arbitration Act, and not by the arbitration laws of any state. The arbitrator shall establish an allocation of cost, damages and expenses between the Parties as set forth in Section 1 (d) below.
(c) urrisdiction and Venne NSP and the Host Community agree and consent that any legal action, suit or proceeding seeking to enforce this Section 11, this 6v1 15
Agreement or to confirm or contest my arbitration award shall be instituted and adjudicated solely and exclusively in any court of general jurisdiction in Minnesota, or in the United States District Court having jurisdiction in Minnesota and NSP and the Host Community each agree that venu will be proper in such courts and waive any objection which they may have now or hereafter to the venue of any such suit, action or proceeding in such courts, and irrevocably consent and agree to the jurisdiction of said courts in any such suit, action or proceeding. NSP and the Host Community further agree to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in said court., and also agree that service of process or notice upon them shall be deemed in every respect effective service of process or notice upon them, in any suit, action, proceeding or arbitration demand, if given or made: (i) according to Applicable Law, (Hi)according to the AAA Rules, (iii)by a person over the age of eighteea who personally serves such notice or service of process on NSP or the Host Community, as the case may be, or (iv) by certified mail, return receipt requested, mailed to NSP and the Host Community, as the case may be, at their respective addresses set forth in this Agreement.
(d)
Enforvement. In the event of arbitration filed or instituted between or among the Parties pursuant to this Section 11, the prevailing Party, who is detemzined by the arbitrator to have substantially prevailed over the other Party with respect to the material issues presented for resolution to the arbitrator, will be entitled to receive from the adverse Party an amount awarded by the arbitrator for costs, damages and expenses, including reasonable attomeOs fees, incurred by the prevailing Party in connection with that action or proceeding, whether or not the controversy is reduced to judgment or award.
(e)
Acolicability.
For the avoidance of doubt, the dispute resolution provisions above shall not apply to disputes between the'Host Community and NSP which arise out of the utility property taxes assessed on the Goodhue County property tax statements described in Section 1 of this Agreement
- 12.
Miscellaneous.
(a)
Survival of eMMpUsationgs.
Covenazts and A
Mements.
Notwithstanding any provision to the contrary set frt in this Agreement. (i) each of the representations and warranties of the Parties contained in this Agreement and in any exhibit, schedule, certificate, instrument or document delivered by or on behalf of any one or more of the Parties hereto pursuant -to this Agreement and the transactions contemplated hereby shall survive the expiration or termination of this Agreement for a period of twenty-four (24) months after such expiration or termination, after which no claim for indemnificaton for any misrepesentation, or for the breach or falsity of any representation or warranty under this Agreement, may be brought and no action with respect thereto may be commenced, and no Party shall have any liability or obligation with respect thereto, unless a claim was made by one Party against another and the claim made specifies with particularity the is etation or a breach of representation or warranty claimed on or before the eapiaion of such p riod, and (CH) the covenants and agreements arising from, incident to or in connection with, this Agreement shall survive l97916Aw P24AL 16
any expiration or termination of this Agreement indefinitely, until such covenants and agreements are either fully satisfied or require no further performance or forbearance, or the rights or obligations of a Party hereto expire on a specific or referenced date by the terms hereof (b)
I ce.
All notices, demands and other communications provided for hereunder shall be in writing and shall be given by personal delivery, via facsimile transmission (receipt telephonically confirmed), by nationally recognized overnight courier (prepaid), or by certified or registered first class mail, postage prepaid, return receipt requested, sent to each Party, at its address as set forth below or at such other address or in such other manner as may be designated by such Party in written notice to each of the other Parties. All such notices, demands and communications shall be effective when personally delivered, one (1) business day after delivery to the overnight courier, upon telephone confirmation of facsimile transmission or upon receipt after dispatch by mail to the Party to whom the same is so given or made:
If to the County.
County of Goodhue Goodhue County Government Center 509 West Fifth Street Red Wing, MN 55066-2540 Attention: County Assessor Facsimile:
(651) 385-3007 With a copy to:
Goodhue County Attorney Goodhue County Attorney's Office Justice Center 454 West Sixth Street Red Wing, MN 55066 Facsimile:
(651) 267-4972 If to NSP:
Northern States Power Company 414 Nicollet Mall Minneapolis, Minnesota 55401 Attention Tax Services Facsimile:
(612) 330-6335 Attention:
Community Relations Facsimile:
(612) 573-9388 Northern States Power Company 414 Nicollet Mall, 5" Floor Minneapolis, Minnesota 55402 Attention:
General Counsel Facsimile:
(612) 215-4501 1947916vt FVIAL 17
0 With a copy to:
Briggs and Morgan, P.A.
2200 IDS Center 8o South Eighth Street Mimaeapolis, WMnot 55402 Attention: ' MIchael Grimes Facsimile:
(612) 977-8650 (c)
E A,
This Agreement, including die documents, instruments, and agreements to be executed by the Parties pursuant hereto, contains the entire agreement of the Parties hereto and supersedes all prior discussions, negotiations, correspondenem agrements, undtaI and oral or written, betwe the Parties hereto with respect to the subject matter hereof including the Memorandum of Understanding (d)
Amendments. No purported amendment, modification or waiver of any provision of this Agreement or any of the documents, instruments or agreements to be executed by the Parties pursuant hereto shall be effective unless in a writing specifically referring to this Agreement and signed by all of the Parties hereto.
(e)
Successors and Assidns. This Agreement shall be binding upon and inure to the benefit of the Parties heeto and their respective successors and permitted assigns; provided howr except as hereinafter provided in this section, nothing in this Agreement is to be construed as an authorization or right of any Party to assign its rights or delegate its duties under this Agreement without the prior written consent of the other Parties hereto. Notwithstanding the foregoing& in its sole discretion, NSP may assign its rights in and/or delegate its duties under this Agreement to (i) an affiliate of NSP, or (ii) pursuant to a merger or exchange transaction or in a transaction in which all or substantially all of the Stabilization Property of NSP located within die Host Community is sold to a third party. In the event of such an assignment of rights and/or delegation of duties, all references to NSP, as applicable to the assignment, in this Agreement shall also be deemed to be references to the person to which this Agreement is assigned; provided that no such assignment and/or delegation shall relieve the assignor of any of its duties or obligations hereunder.
(f)
Fees and Bxemq Each Party hereto shall pay their own fees and expenses incurred in connection with negotiating and preparing this Agreement and, consummating the transactions contemplated hereby, including but not limited to fees and disburseents of their respective attorneys, accountants and other advisors.
(g)
Governng Law and Venue. This Agreement, including the documents, instruments and agreements to be executed and/or delivered by the Parties pursuant hereto, shall be construed, governed by and enforced in accordance with the internal laws ofthe State of Minnesota, without givingeffect to the principles of comity or conflicts of laws thereof. Any disputes between or among the Parties to this, Agreement shall be venued in a District Court ofthe State of Minnesota.
194916vl 18
(h)
Countarts and FacsimileBlectronic Signature. This Agreement may be executed in one or more facsimiles, counterparts or electronic signature counterparts of any form, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts, facsimiles or electronic signatures have been executed by each of the Parties and delivered to the other Parties, it being undmstood that all Parties need not sign the same counterprt, facsimile or form of electronic transmission.
(i)
Headin.
and Certain Terms. The headings of the articles, sections and subsections of this Agreement are intended for'the convenience of the Parties only and shall in no way be held to explain, modify, construe, limit, amplify or aid in the interpretation of the provisions hereof The terms "this Agreement," "hereot." "herein,"
"hereunder," "hereto" and similar expressions refer to this Agreement as a whole and not to any particular article, section, subsection or other portion hereof and include the schedules and exhibits hereto and any document, instrument or agreement executed and/or delivered by the Parties pursuant hereto. The terms "including," "include" or "includes" shall mean including without limitation.
- 0)
Severabiity. In the event that any provision of this Agreement is declared or held by any court of competent jurisdiction to be invalid or unenforceable, such provision shall be severable from, and such invalidity or unenforceability shall not be construed to have any effect on, the remaining provisions of this Agreement, unless such invalid or unenforceable provision goes to the essence of this Agreement, in which case the entire Agreement may be declared invalid and not binding upon any of the Parties.
(k)
Parties in,nterest. Nothing expressed or implied in this Agreement is intended or shall be construed to confer any rights or remedies under or by reason of this Agreement upon any persons or entities other than the Parties and their respective permitted successors and permitted assigns. Nothing in this Agreement is intended to relieve or discharge the liabilities of any third person to any of the Parties.
(1)
W vv.
The terms, conditions, representations and covenants contained in this Agreement, including the documents, instruments and agreements executed and/or delivered by the Parties pursuant hereto, may be waived only by a written instrument exected by the Party waiving compliance. Any such waiver shall only be effective in the specific instance and for the specific purpose for which it was given and shall not be deemed'a waiver of any other provision hereof or of the same breach or default upon any recurrence thereof. No failure on the part of a Party hereto to exercise and no delay in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right hereunder preclude any other or further exerise thereof or the exercise of any other right (m)
Construction. The Parties have participated jointly in the negotiation and drafling of this Agreement In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement The Parties intend 1947916vt PD4AL 19
that each representation and covenant contained herein shall have independent significanm. If any Party has breached any representaftion or covenant contained herein in any respect, the fact that there exists another representation or covenant relating to the same s matten (regardless of the relative levels of specificity) which the Party has not breached shall not detract from or mitigate the fact that the Party is in breach of the first representation or covenant.
(n)
Snecific Perfmanc.
The Parties haeto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not perfmmoed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall behentitled to seek injunctive relief to prevent breaches of this Agreement and to enforce specifially the terms and provisions hereof in any court of the United States or of the State of Minnesota, this being in addition to any other remedy to which they are entitled at law or in equity.
(o)
Condition to Efectiveness of Are ent. In order for this Agreement to become effective (i) NSP must execute and deliver this Agreement to the Host Community, and (hi) the Host Community must execute and deliver this Agreement to NSP.
(P)
M Loe.J The Parties understand'and agree that this Agreement is not intended to and does not apply to thestate general tax, as described andstfrth*on the Goodhue County property tax statement.
(q)
Savint s Clause. In the event that there is a valuation of utility property that is challenged in accordance with Applicable Law and such challenge results in a settlement adjustment or an adjudicated adjustment, of utility property taxes on Stabilized Property, the tracking calculations for Stabilization Payments Abatement Payments, and deferrals shall be adjusted to reflect the settlement or adjudication.
(r)
Re y Meetings Each. of NSP and the Host Community will appoint.
one or more authorizedrepresentatives and provide the name(s) and contact information of such representative(s) in writing to the other Party promptly following the execution and delivery of this Agreement. Such authorized representatives shall meet as of=te as deemed reasonably necessary, but not less than once each calendar year during the Term, to discuss m8e Mring fom, in connectio with or incident to this Agreement
[SIGNATURE PAGE FOLLOWS]
1947916v1 MMAL 20
IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by duly authorized representatives as of the day, month and year first above written.
NORTHERN STATES POWER COMPANY D/B/A XCEL ENERGY By un Relations Its GOODHUE COUNTY, MINNESOTA By Chairwa of the ard B
y County Administrator-
[SIGNATURE PAGE TO REVENUE STABILIZATION AGREEMENT)
DEFINITIONS, EXHIBITS AND SCHEDULES Definitions List - Appendix I Exhibits Exhibit A Host Community Abatement Authorization and Enactment (NSP Property Taxes)
Exhibit B Base Year Amount and County Parcel Identification Numbers for Property Stabilization Schedules Schedule 5(c)(iv) - Example of Interest Calculations on Delayed Abatement Payments Schedule 5(c)(v)(1) - Tracking, payment and reconciliation principles Schedule 5(c)(vX2) - Example Proof of Extraordinary Investment Schedule lO(a)(iii) - Required filings, permits, authorizations, consents, approvals and notices of NSP.
Schedule lO(b)(iii) - Required filings, permits, authorizations, consents, approvals and notices of Host Community.
Schedule 10(b)(vi) - Host Community Tax Abatement Information 1947916A FINAL
APPElNDIX 1 "AAA Rules" has the meaning set forth in Section I l(b) of this Agreement.
"Abatement" has the meaning set forth in Section 1(b)(H) of this Agreement.
"Abatement Paymen" has the meaning set forth in Section 5(b)(ii) of this Agreement.
"Abatement Payment Threshold" has the mmaning set forth in Section 5(c)(b() of this Agreement "Abatement Statutes" has the meaning set forth in the Recitals to this Agreement "Agreement" has the meaning set forth in the introductory paragraph of this Agreement.
"Applicable Law" or "Applicable Laws" shall mean any and all laws (including all statutory enactments and common law), ordinances, constitutions, regulations, statutes, treaties, rules, codes, standards, licenses, certificates, franchises, permits, requirements and injunctions that have been adopted, enacted, implemented, promulgated, ordered, issued, entered or deemed applicable by or under the authority of any governmental body having jurisdiction over a specified person or entity (or the properties or assets of such person or entity).
"Base Year" has the meaning set forth in Section 2(a) of this Agreement.
"Base Year Amount" has the meaning set forth in Section 2(b) of this Agreement.
"CWIP has the meaning set forth in Section 7(b)(ii) of this Agreement "County" has the meaning set forth in the introductory paragraph of this Agreement "DOR" has the meaning set forth in the Recitals to this Agrement.
"EX Year" has the meaning set forth in Section 7(b) of this Agreement "Excess Payments" has the meaning set forth in Section 5(c)(ii) of this Agreement.
"Extraordinary Investment" has the meaning set forth in Section 7(a). of this Agreement "Force MaJeure" shall mean fire, floods, explosion, catastrophe, accident, declared war, riot, Acts of God, insurrection, strike, and Applicable Laws that prevent performance, to the extent (i) such even of Force Majeure is beyond the reasonable control of the Party claiming Force Majeure, and (ii) the Party claiming Force Majeure gives prompt written notice Of the same to the other Party.
A (pI 1_of2)..
IL479i.
"Host Communiy has the meaning set forth in the introductory paragraph of this Agreemeta.t "Market Value" is the DOR apportioned value attributable to Stabilization Property.
Market Value may also be referred to in this Agreement as the "apportioned value"', the "DOR market value", "apportioned by the DORW, "valued by the DOR", -valued by the State of Minnesota", "DOR assessed", and/or phrases of similar usage and import "Memorandum of Understanding" has the meaning set forth in the Recitals to this Agreement.
"NSP" has the meaning set forth in the introductory paragraph of this Agreement.
"Party" or "Parties" has the meaning set forth in the introductory paragraph of this Agreement "Rule" or "Rule" has the meaning set forth in the Recitals to this Agreement "Stabilization. Payment" has the meaning set forth in Section 5(b)(i) of this Agreement "Stabilization Property" or "Stabilized Property" has the meaning set forth in Section 4(a)(1) of this Agreement.
"Term" has the meaning set forth in Section 3 of this Agreement Appendix A (2 of 2) 1947916wT FRNL
)
EXHIBIT A HOST COMMUNITY AUTHORIZATION AND ENACTMENT (NSP PROPERTY TAXES)
[SEE ATIACHED EBIT A DOCUMS]
f Exhibit A (1 of 1) 1947916vt FINAL
EXHIBIT A Commissioner Rechtzigel introduced the following resolution and moved its adoption:
RESOLUTION APPROVING REVENUE STABILIZATION AGREEMENT AND POSSIBLE TAX ABATEMENT FOR CERTAIN PROPERTY PURSUANT TO MINNESOTA STA TUTE SECTION 469.1813 WHEREAS, Minnesota Statutes § 469.1813 gives authority to the County of Goodhue (the "County") to grant a current or prospective abatement of taxes on property, including personal property and machinery, pursuant to a contract; and WHEREAS, Northern States Power Company d/b/a Xcel Energy ("Xcel Energy") and the County desire to enter into a Revenue Stabilization Agreement, which may, by its operation, result in an abatement of taxes imposed by the County if certain criteria in the Agreement are met; and WHEREAS, Xcel Energy owns certain properties in the County which are more fully described in the proposed Revenue Stabilization Agreement and which are subject to valuation under Minnesota Rules, Chapter 8100; and WHEREAS, the County has determined that it is necessary and appropriate to enter into the Revenue Stabilization Agreement in order to preserve and stabilize the County's tax base through equalization of property tax revenues for the period specified in the Revenue Stabilization Agreement; and WHEREAS, Xcel Energy desires to enter into, and has requested that the County Board of Commissioners approve, the attached Revenue Stabilization Agreement; and WHEREAS, the County has performed all actions required by law prior to the adoption and approval of the proposed tax abatement, including the holding of a public hearing on November 7, 2006, upon published notice as required by law.
NOW, THEREFORE, BE IT RESOLVED by the County Board of Commissioners of the County of Goodhue as follows:
- 1.
Findings. The County finds that entering into the Revenue Stabilization Agreement, which may result in the abatement of taxes for the Xcel Energy property, is in the public interest because it will stabilize the tax base through equalization of property tax revenues for a specified period of time. By stabilizing the tax base, the County expects that it will receive benefits at least equal to the potential costs of the abatement. The Xcel Energy property is not located within a tax increment financing district.
- 2.
Abatement Approved. The County will potentially abate the property taxes that it imposes upon said property for the time periods described in the Revenue Stabilization Agreement.
- 3.
Use of Revenues. Any abated taxes under the Revenue Stabilization Agreement will be payable to Xcel Energy per the terms of the Revenue Stabilization Agreement.
- 4.
Time Period of the Abatement. The time period of the abatement shall be as specified in the Revenue Stabilization Agreement, which time period shall not exceed the 20-year time period set forth in Minnesota Statutes §469.1813, Subd.
6b.
- 5.
Business Subsidy. The assistance granted by the tax abatement is not a "business subsidy" as that term is defined in Minnesota Statute §1 16J.993.
- 6.
Approval and Execution of Agreement. The Board of Commissioners hereby approves the attached Revenue Stabilization Agreement, and authorizes and directs the appropriate officers to execute the Agreement.
The motion for the adoption of the foregoing resolution was duly seconded by Commissioner Allen and upon vote being taken thereon, the following voted in favor thereof:
Commissioners Allen, Samuelson, Rechtzigel, Bryant & Seifert and the following voted against: None whereupon said resolution was declared duly passed an&.adopted this 7th day of November, 2006.
Ted Seifert, Bo/d C airman ATTES LislI*anni, County Administrator (seal)
BASE YEAR AMOUNT AND COUNTY PARCEL WENTMCATION NUMIERS FOR STABILIZATION PROPEFSY
[SEE ATTACBED EM B DOCUMENTS]
Ram B (l of 1) 19M16v FM(L
EXHIBIT EXASMPE CALCULATION OF BASE YEAR AMOUNT AND COUNTY PARCEL IDENTIFICATION NUMBAERS FOR STATE ASSESSED STABILIZATION PROPERTY Parce/
Xdentifzaolse Number ("ND")
55.705.0160 55.705.0161 55,705.0162 2006 Rue Year Amount 1 TotalProperty Tax an Goodhue county Statementi?
S3.667,940 3.66,22W 3669,226
$11.006.92 (A)
Total Proprty Tax Alkcation
. Amount to Goodhue Countys
$3,7472W:
(B)
Lem Tax Amount for LoaifAmsmed provert S(16rV70 ffUo517)
(A)-(B)=(C)
StaleAsmad Praperv Tax Alo*ation to Goodhue
$3,696,832 2 / 2005 Assesmmcnt2006 Payment Year 2 /Inclada StatW and Locally Assecd Propsty-Daft from 2006 Goo&Me County Propedy Tax Statement 3 / Baed on Payable Year 2006 Estimatd Madwt Value of Land (Locay Assessd Published by 0oo&
County 4 / Based on Caculations set forth below in the Atachmemnt to this Echibit B MPagpl of 1
ATIACMHMUM 2006 Gooadho Couty Propety Tax Stutement l-r PID Number $S.70S.0160......-.
2006 Goodma county Pmcty Tax StM for PIDWoNmnbr SS.705.0161......
2006 Guodhuo Couly Propcety Tax Statemmt for PID Number55.705.01 Tax Informaion Slatements 2006 Goodhue CountylPmpcdy Tim TIhu*tn Staenment (or P]D Nmber 5S.705.0160...
LIM Number S5.70S,0161.. _..................
2006 Goodhimo Couy'rpesty Tax Ininto Statement for
'2006 GoodhueCou~tyPropeity Tax Tfoization Statemen for PIDNamberSS.705.0162........................
6.
Calculatos for Statement Loc d..-Assess s
e....
V it PageO
¶ 4
11
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SCMHDULE 5(cXiv)
Example of Interest Calculadons on Delayed Abatement Payments Interest on Abatement Payments that ame delayed for a period of one (1) year or more will be calculated in accordance with the following example:
In 2010 utility property taxes payable by NSP to the Host Community are $120. The Base Year Amount is $100. The difference of $20 between the 2010 amount payable and the Base Year Amount is subject to Abatement. There are no previous accumulated Abatements and the Abatement did not arise from an Extraordinary Investment Based on the foregoing, there is an Abatement amount of $20.
The Abatement Payment Threshold is $15 ($100 X 15%),
therefore $15 is not curently payable; however, the $5 difference between the Abatement amount and the Abatement Payment Threshold is payable by the Host Community in two (2) equal installments of $2.50 on or before July 31, 2011 and December 31, 2011.
Interest on the $15 Abatement Payment Threshold amount, if it remains unpaid until July 31, 2019 ($7.50) and December 31, 2019 ($7.50) (assumed dates after termination of the Agreement on December 31, 2017), and with the further assumption that the payment is made by the Host Community to NSP as Reconciliation Payments in 2019), would accrue as follows:
Amount a
August l, 2011 -July 31,2012 ($15.00 xOOo%)
$
- August 1, 2012 - December 31, 2012
($7.50 X 5% X 153/365) + ($7.50 X 0%)
.157 a
January 1, 2013-July 31, 2019
($15.00 X 5% X 2343/365) 4.814 0
August 1, 2019-December 31,2019
($7.50 X 5% X 153/365) ~.157 Total Interest on Delayed Abatement Payment Amount 2
$5.13 (rounded)
/No infte for a ne (1) year period aft ta naminl Abatemad payment daes) purmua to Sectio 5(cXiv) of the Agreemet The payment dume dats for Abatment Paymuls are July31 mad December 31 of the year folkowing th accrual of the AbatemenL 2/5% i ai assunmed mid.aerm Apliable Federal Rat ("AM") on tet pament due datm This rate will chge baed on *a APR rte published. frm tm to time by the Interan Revenue Service.
1947956VI MIAL
SCHEDULE 5(c)(v)(1)
Tracking, payment and reconciliation principles TECENICAL CALCULATIONS1IMPACT MEMORANDUM (Base Amounn--00)
Credit toe NS 1
2 3
4 5
6 7
8 9
10 Paymeae Paymen by LGUs W
10 Xfr~k 5
iO' Trackidag Credit t4
% Base (cumulative)
!B o
15 0
15 0. ',::*j :..
15 o
15 20 1
985 1015 Reconciliation Payxent.(LGU)
Proof Tax Paid NSP Stabilization Payment LGU Abatement Payment LGU Reconciliation Payment 10 (x) 100 (Aggregate Base Year Amount) 65 (35)
(100 20 (35)
I Per property tax statement 2
Tracking Provision 3 "
Abatement Payment (Lag Year concept) 4 Stabilization Payment (Lag Year concept)
Assumes 115% Abatement Payment Threshold 1947916vl FINAL
SCHEDULE S(cXV)(2)
EXAMPLE PROOF
. OF EXrAORDINARY IMVESTMENT RECONCILIATION FOR REVENUE STABrEIZATION AGREEMENT SECTION s(cXii)
Sabnlltitaon Abatement Stabiution Abatement Propert Payezautby Payment by Tnacktng Traddng Ef Tax Paid LGg NSP Credit Abatement 10o Year Rets
$9S
$35
$65
$is" Year I I ()
120 151
$202 Yenr 12 (Stabilization)4 90 15' 102
- Totals,
$1,195
$35 6S SiS' Sl0 Proof of Calculaltons Per Section 5(cefM Utility Property Tax Paid
$1,195 Stabilization Payments 65 Total 1,260 Less Aggreate Base Year Amount(12xS100) 1,200 Excess Payments 60 Less: Net El Abatement/
Stabilization ($20 - $10)
(10)
Las: Abatement Pyment (3)
Reconciliation Payment Amounw Due
$15 1,
$15 traking ofpr
- Abm t is defed rand payableper Seon 7(b)Ci.i)(A)
$20 tracked E Abatement not payable but used for oflkt apiMt futre stablizaion (See Section 7(b)(ijiiB))
3/
$10 stabilization amount ($100 - $90) offset against the $20 tracked El Abatemaet (f Section 7(bXiitXA)); $ 10 is deferred (t Section 7(b)CdlW))
4 /
For exampl purposes only: Asgumug extended Agreement and no terination ofthe Agreement under Section 7(8)(3)(c) 1947916VI FINAL
SCBEDULE 1O(a)('M)
Required filings, permits, authorizations, consents, approvals and notices of NSP.
NONE 1947916VI
SCURDULE 1O(b)(il)
Required filings, permits, authorizations, cousents, approvals and notices of Host Community.
NONE 194791641 F2AL
SCHEDULE 1O(b)(vi)
Host Community Tax Abatement Information CUMULATIVE TAX ABATEMENT OBLIGATIONS Board Resolution dated July 2, 2002 - Kenyon Sunset Home 10 Year abatement term beginning 2005 Property Tax Pay Year Annual Estimated Abatement Annual Estimated Abatements as a Percentage of the 2006 Property Tax Lew Property Tax Levy 23,660,780 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 10,603 10,815 11,031 11,252 11,477 11,707 11,941 12,180 12,423 12,672 0.0448%
0.0457%
0.0466%
0.0476%
0.0485%
0.0495%
0.0505%
0.0515%
0.0525%
0.0536%
Board Resolution dated August 19, 2003 - Grover Autombile Sales, Zumbrota 10 Year abatement term beginning 2005 Property Tax Pay Year Annual Estimated Abatement Annual Estimated Abatements as a Percentage of the 2006 Property Tax Levy Property Tax Levy 2006 2007 2008 2009 2010 2011 2012 2013 23,660,780 4,410 4498 4588 4680 4774 4869 4966 5066 5167 5270 0.0186%
0.0190%
0.0194%
0.0198%
0.0202%
0.0206%
0.0210%
0.0214%
0.0218%
0.0223%
2014 2015 Total Estimated Abatement Payments 164,388 1947916v1 FINAL
5/
Page 1 of 3 Gunter, Gary - NUS From:
Bjornstad, Ken Sent:
Thursday, October 05, 2006 9:07 AM To:o Cc:
Woz erson, Brian
Subject:
FW: Red Wing area LOS data request The LOS has not been calculated. The number of lanes, lane description and capacity follow each segment for which you requested data. If this info is for a potential developer, you should contact the Goodhue County Planner, Mike Wozniak and the Red Wing City Planner, Brian Peterson for zoning and building requirements (they are cc'ed this response).
Ken Bjornstad Transportation Planning Coordinator Gboiodhue County Public Works Phone 651-385-3049 Fax 651-388-8437 Original Message -----
From: Goodhue, Public Works Sent: Wednesday, October 04, 2006 2:19 PM To: Bjornstad, Ken
Subject:
FW: Data request
- Ken, Is this something you would be able to answer?
Original Message -----
From: Gunter, Gary --
Sent: Wednesday, October 04, 2006 12:51 PM To: Goodhue, Public Works
Subject:
Data request I am trying to find level of service (LOS) data and number of lane information for County and U.S Hwy road segments in Goodhue County (Segments are below).
If the State maintains data, please let me know and I'll contact them.
If the los data isn't calculated, I can use that 7information as well.
10/5/2006
Page 2 of 3 Any help would be greatly appreciated.
Goodhue County Road Segments Number of Lanes MNDOT Road Classification Level of Service for Road/Highway Segment Average Annual Daily Traffic (AADT) for 2002/2003 County Road 18 (just north of intersection with Sturgeon Lake Road)
TBD County Road TBD 6,200 R2 (Level) - Capacity 12,000 vpd County Road 18 Segment (south of intersection with Sturgeon Lake Road and north of County Road 19)
TBD County Road TBD 7,400 R2 Level-Capacity 12,000 vpd County Road 18 (between County Road 19 and County Road 46)
TBD County Road TBD 6,000 R2 (Steep) plus climbing lane - Capacity 12,000 vpd plus Sturgeon Lake Road TBD County Road TBD 11, 500 U4U Level - Capacity 20,000 vpd County Road 19 (between County Road 18 and U.S. Highway 61)
TBD County Road TBD 360 R2L (Steep & curvy) - Capacity 5,000 vpd County Road 31 (between County Road 18 and U.S. Highway 61)
TBD County Road TBD 490 R2 (Rolling)- Capacity 10,000 vpd County Road 7 (just south of intersection with U.S. Highway 61)
TBD County Road TBD 6,000-error should be 445 ADT(We have counts that suggest 1,000 ADT during the summer recreational season {camping & tubing} & 2,000 ADT during the winter recreational season {skiing}.)
U.S. Highway 61 (between County Road 18 and County Road 19)
TBD U.S Highway TBD 14,400 /10,800 R4D Rolling -Capacity 40,000 vpd U.S. Highway 61 (between MN HWY 19 and County Road 53)
TBD Highway TBD 16,300 U4D Rolling - Capacity 40,000 vpd U.S. Highway 61 (between County Road 53 and County Road 1)
U.S U.S TBD TBD Highway TBD 21,900 U4D Rolling - Capacity 40,000 vpd U.S. Highway 61 (between State Road 316 and County Road 19)
U.S Highway TBD 10,800 R4D Rolling - Capacity 40,000 vpd MN HWY 19 (between County 6 and U.S. Highway 61)
TBD TBD 4,050 R2 (Level) - Capacity 12,000 vpd County Road 1 (between County Road 66 and U.S. Highway 61)
County Road TBD 6,500 / 8,000 U4D Rolling - Capacity 40,000 v IN HWY TBD pd Should you need to contact me, I'm in the office here in South Carolina 10/5/2006
Page 3 of 3 approximately 06:30 AM to 3:00 PM EST.
- )
Thanks in advance!
Gary Gary L. Gunter Earth Scientist TETRA TECH NUS, Inc.
900 Trail Ridge Road Aiken, South Carolina 29803 Direct Line:
(803) 641-6318 FAX:
(803) 642-8454 TtNUS office Line:
(803) 649-7963, x 6318 Gary.Gunter@ttnus.com
<http://www.ttnus.com/ <http://www.ttnus.com/> >
<http://www.tetratech.com <http://www.tetratech.com> >
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10/5/2006
Message Page 1 of 1 Hill, Nicole -- NUS zm I
A 64-J, C-)%l riillm-Sent:
To:
Subject:
rluvR, r Ily I -I Oý0r 12:34 PM 2001-2004 Attachments: Published Financial 2001.xls; Published Financial 2002 (Paper).xls; Published Financial 2003.xls; Published Financial 2004.xls
- Nicole, I've attached our published financials (the mini-version of the whole audit) for 2001-2004. Our 2005 financial statements are currently being reviewed by our State Auditor's and should be available soon. If you would like me to forward you a copy of our published 2005 financials when they are available, please let me know. Thanks!
Amy Hove Acting Auditor/Treasurer Goodhue County Phone: (651) 385-3043 Fax: (651) 385-3196 10/6/2006
A PROFILE OF GOODHUE COUNTY Percent Total Total Increase Key Indicator 2000 2001 (Decrease)
Estimated Population 44,127 44,664 1.20%
Total Assessed Market Value Of All Taxable Property
$ 2,808,528,500
$ 2,916,308,800 3.70%
Percent of Property Taxes Collected 99.5%
99.1%
-0.40%
Total Revenues 37,176,388 43,380,874 14.30%
Total Current County Expenditures (All Governmental Funds) 39,148,862 38,716,413
-1.12%
Total Outstanding Net Bonded Debt Of The County 32,038,777 30,383,715
-5.45%
Bond Rating on Most Recent General Obligation Bond Issue A-1 A-1 (If Applicable)
Total Number Of Full Time Employees 331 334 0.90%
GOODHUE COUNTY COMBINED BALANCE SHEET
- ALL FUND TYPES, ACCOUNT GROUPS, AND DISCRETELY PRESENTED COMPONENT UNIT DECEMBER 31, 2001 PrimaryEXHIBIT 1
Primary Account Groups Government Govemmental Fund Types Fiduciary General General Total Componenet Unit 2001 2000 Special Debt Fund Type Fixed Long-Term (Memorandum Belle Creek Financial Financial
% Change General Revenue Service Agency Assets Debt Only)
Watershed Statements Statements 2000-2001 Assets and Other Debits Cash and poled Investments 1,164,641 1,673,306 $
74,613 8,418.676 11,331,236 196,485 $
11,527,701
$ 10,971,758 5.07%
Fund investments 3,057,037 1.530,704 4,587,741 4,587,741 Petty cash and change funds 1,500 2,910 4,410 4,410 5,410
-18.48%
Departmental cash 49,8471 66,583 116,430 116,430 79.564 46.34%
Cash with escrow agent 776,181 1 776,181 776,181 728,238 6.58%
Taxes Receivable Unapportioned 5,458,954 3,158,931 1,477,842 10,095,727 10,095,727 8,317,916 21.37%
Delinquent 212,236 160,808 67,326 '
440,370 67 440,437 341,346 29.03%
Special assessments receivable Unapportioned 611 611 611 691
-11.58%
Deterred 808 808 808 2,289
-64.70%
Accounts receivable 27,964 55,331 83,295 83,295 182,609
-54.39%
Accrued Interest receivable 30,839 14,336 4,222 49,397 183 49,580 97,968
-49.39%
Due from other funds 4,096 43,942 3,042,853 3,090,891 3,090,891 3,493,962
-11.54%
Due from primary government I
I.
2,605 2,605 2,557 1.88%
Due from other governments 126,368 2,021,600 2,147,968 1,763 2,149,731 1,388,054 54.87%
Advance to other funds 30,100 30.100 30,100 30,100 0.00%
Loan receivable 118,037 118,037 118,037 86,792 38.00%
Inventories 300,611 300,611 300.611 270,627 11.08%
Prepaid Items 146,698
-100.00%
Restricted assets Cash and pooled Investments 174,520 174,520 174,520 169,361 3.05%
Fixed assets 4-4,253,235 44,253,235 404,485 44,657,700 44,758,747
-0.23%
Amount available for debt service 3,874,618 3,874,618 3,874,618 3,645,187 6.29%
Amount to be proved for retirement of general long-term debt 23,693,038 23,693,038 23,693,038 24,049,713
-1.48%
Total Assets and Other Debits 7106645
$ 10,782,788 3,930,886
$ 11,528,112
$ 44,253,235 $ 27,567,656
$ 105,169,224 605,548 $ 105,774,772
$ 98,769,587 7.09%
r EU Liabilities Cash overdraft 26,606
-100.00%
Accounts payable 150,268 424,876 575,144 575,144 705,491
-18.48%
Salaries payable 453,456 366,794 820,250 820,250 630,326 30.13%
Contracts payable 434,040 434,040 434,040 1,065,570
-59.271/%
Unapportioned taxes and assessments 10,096,338 10,096,338 10,096,338 8,318,607 21.37%
Due to other funds 3,038,764 52.127 3,090,891 3,090,891 3,493,962
-11.54%
Due to component unit 2,605 2,605 2,505 2,557 1.88%
Due to other govemments 104.048 450,958 1,429,169 1,984.175 1,984,175 1,439,568 37.83%
Deferred revenue 286.745 251,898 56,270 594,913 67 594,980 598,687
-0.62%
Advance from other funds 30,100 30,100 30,100 30.100 O.00%
Accrued closure and postalclosure care 1,559,897 1,559,897 1
1,559,897 1,297,137 20.26%
Capital lease 140,233 140,233 140,233 197,356
-28.949 General obligation bonds and notes 23,401,643 23,401,643 23,401,643 24,033,952
-2.63%
Compensated absences 2,465,883 2,465,883 2,465,883 2,166,455 13.82%
Total Uabiltlets 4,033,281 2,010,793 56,270
$ 11,528,112 $
$ 27,567,656 45,196,112 67 45,196,179
$ 44,006,374 2.70%
Liabilitles and Equity (Continued)
Equity Investment In general fixed assets 44,253,235 44,253,235 404,465 44,657,700 44,758,747
-0.23%
Fund balance Reserved (Note 3.1) 308,645 884,122 1,192,767 1,192,767 1,269,618
-6.05%
Unreserved, designated for Debt service 3,874,618 3,874,618 3,874,618 3,645,187 6.29%
Extensfon general programs 1,758 1,788 1,788
- DIV/0I Extension agriculturm programs 6,133 6,133 6,133
- DIV/0l Extension WFIP 266 2661 266
- DIViIl Extension chemical decisions 1,296 1,296 1,296
- DIV/01 Pay equity 43,700 43,700 43,700
- DIV/0l Extension publications 679 679 679
- DIV/01 Compensated absences 415,418 415,418 415,418 393,913 5.46%
Byllesby Dam 277,125 277,125 277,125
- DIV/01 sequent ears expenditures 289,680 1-289,680 289,680
- DIV/01 rve compensation 604,527 604,527 604,527
- DIV/01 financn 1,479 1,479 1,479
- DIV/0l Undesignated 1,539,425 7,470,976 9,010,401 201,016 9,211,417 4,695,748 96.17%
Total Equity 3,073,264 8,771,995 3,874,618 $
$ 44,253,235 $
59,973,112 605,481 60,578,593 $ 54,763,213 10.62%
Total Liabliltes and Equity 7,106,545
$ 10,782.788 1$ 3,930,888 $ 11,528,112
$ 44,253,235
$ 27.567,656
$ 105,169,224 605,548 $ 105,774,772
$ 98,769,587 7.09%
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES AND DISCRETELY PRESENTED COMPONENT UNIT FOR THE YEAR ENDING DECEMBER 31. 2001 EXHIBIT 2 Primary Government Governmental Fund Types Total Component Unit 2001 2000 Special Debt Capital (Memorandum Belie Creek Financial Financial
% Change General Revenue Service Projects Only)
Watershed Statements Statements 2000-2001 Revenues Taxes
$ 11,070,634 6,955,180 $
3,014,077 $
$ 21,039,891 7,624 $ 21,047,515 $
17,441,468 20.68%
Special assessments 1,157 1,157 1,271
-8.97%
Ucenses and permits 14,210 470,767 484,977 484,977 407,731 18.95%
Intergovernmental 1,696,608 12,536,115 152,775 14.385,498 3,516 14,389,014 13,190,216 9.09%
Charges for services 1,802,114 2,416,674 4,218,788 4,218,788 3,685,419 14.47%
Materials for resale 130,017 130.017 130,017 208,750
-37.72%
Fines and forfeits 258,469 258,469 258,469 270.470
-4.44%
Gifts and contributions 39,102 21,435 60,537 60,537 51,497 17.55%
Interest earnings 880,114 542,099 78,801 1.501,014 8,580 1,509,594 273,181 452.60%
Miscellaneous 741,242 559,284 1,300,526 1,300,526 1,663,108
-21.80%
Total Revenues
$ 16,502,493
$ 23,632,728, $
3,245,653
$ 43,380,874 19,720
$ 43,400,594
$ 37,193,111 16.69%
Expenditures Current General government 5,906,702 $
817,141 $$
6,723,843 $
6,723,843 5,922.822 13.52%
Public safety 7.093,373 7,093.373 7,093,373 6,898,177 2.83%
Highways and streets 8.251,948 8,251,948 8,251,948 9,976,546
-17.29%
Sanitation 804,580 804,580 804,580 741.287 8.54%
Human services 8,209,278 8,209,278 6-8,29,278 8154,.023 0.68%
Health 3,357,075 3,357,075 3,357.075 3,074,012 9.21%
Culture and recreation 425.867 10,388 436,255 436,255 531,396
-17.90%
Conservation of natural resources 344,738 69 344,807 5,672 350,479 302,692 15.79%
Economic development 296,478 10.577 307,055 307,055 494,662
-37.93%
Capital outlay 45,423
-100.00%/o Debt service Principal retirement 51,943 5,180 1,882,309 1.939,432 1,939,432 1,786,170 8.58%
Interest 114,250 604 1,133.913 1,248,767 1,248,767 1,226,709 1.80%
Other Dept Service Charges 537 Total Expenditures
$ 14,233,351
$ 21,466,840 3,016,222
$ 38,716,413 5,672
$ 38,722,085
$ 39,154,456
-1.10%
Excess of Revenues Over (Under)
Expenditures 2,269,142 2,165,888 $
229,431 4,664,461 14,048 4,678,509 (1,961,345)
-338.54%
Other Financing Sources (Uses)
Operating transfers in 150,000 289,509 439.509 439,509 898,419
-51.08%
Operating transfers out (289,509)
(150,000)
(439,509)
(439,5091 (898,419)
-51.08%
Proceeds from sale of bonds 1,157,934 1,157,934 1,157,934 Proceeds from notes payable 50,000 50,000 50,000 Total Other Financing Sources 1,018,425 $
189,509 $
1,207,934 $
1,207,934 Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses 3,287,567 2,355,397 $
229,431 5,872,395 14,048 5,886,443 (1,961,345)
-400.12%
Fund Balance - January 1 (132,171) 6,386,614 3,645,187 (82,132) 9,817,498 186.968 10,004,466 11.994.888
-16.59%
Residual equity transfer In 82,132 82.132 82,132 Residual equity transfer out (82,132)
(82,132)
(82,132)
Increase (Decrease) In Reserved for Inventories 29,984 29,984 29,984 (29,077)
-203.12%
Fund Balance-December 31 3,073,264 8,771,995 3,874,618 $
$ 15,719,877 201,016 $ 15,920,893 10,004,466 59.14%
aRevenues Grants Other Charges/Fines Taxes Interest Expenditures General Government Public Safety Highways & Street/Sanilatlon Human Services Health Other Capital Project Debt Service/Interest 2001 2000 14,385.498 33.16%
13,186,644 34.29%
1,977,214 4.56%
2,332,352 8.31%
4,477,257 10.32%
3,955,889 10.37%
21,039,891 48.50%
17,436,556 44.21%
1,501,014 3.46%
264,947 2.82%
43,380,874 100.00%
37,176,388 100.00%
2001 2000 6.723,843 17.37%
5,922,822 12.77%
7,093,373 18.32%
6,898,177 13.70%
9,056,528 23.39%
10,717,833 16.77%
8,209,278 21.20%
8,154,023 19.86%
3,357,075 8.67%
3,074,012 6.84%
1,088,117 2.81%
1,323,156 2.08%
0.00%
45,423 21.52%
3,188,199 8.23%
3,013,416 6.46%
38,716,413 100.00%
39,148,862 100.00%
Goodhue County's 2001 Finances Where it comes from Interest 3%
3%
Grants Taxes 49%
ther 5%
Charges/Fines 10%
Goodhue County's 2001 Finances Where it goes to Debt General Service/Interest Government Other 8%
Health 3%
17%
Public Safety 18%
Human Services 21%
Highways &
Street/Sanitation 24%
GOODHUE COUNTY COMBINED BALANCE SHEET ALL FUND TYPES AND ACCOUNT GROUPS DECEMBER 31, 2002 EXHIBIT I Account Groups Govemmental Fund Types Fiduciary General General 2002 2001 Special Debt Fund Type Fixed Long-Term Financial Financial
% Change General Revenue Service Agency Assets Debt Statements Statements 2001-2002 Assets and Other Debits Cash and pooled investments 1,462,119 2,184,443
$ 11,273,076 Q $
14,919,638 11,331,236 31.67%
Fund investments 3,642,948 1,416,277 5,059,225 4,587,741 10.28%
Petty cash and change funds 1,500 2,910 4,410 4,410 0.00%
Departmental cash 56,175 82,846 139,021 116.430 19.40%
Cash with escrow agent 786,176 786,176 776,181 1.29%
Taxes Receivable Unapportioned 5,479,660 2,858,473 1,533,620 9,871,753 10,095,727
-2.22%
Delinquent 225,029 143,888 67,364 436,281 440,370
-0.93%
Special assessments receivable Unapportioned 612 612 611 0.16%
Deterred 224 224 808
-72.28%
Accounts receivable 13.205 79,216 92,421 83,295 10.96%
Accrued Interest receivable 40,320 305 456 41.081 49,397
-16.84%
Due from other funds 6,249 51,111 182,808 240,168 3,090,891
-92.23%
Due from other governments 291,694 1,159,145 1,450,839 2,147,968
-32.46%
Advance to other funds 30,100 30,100 30.100 0.00%
Loan receivable 96.603 96,603 118,037
-18.16%
Inventories 374,232 374,232 300,611 24.49%
Prepaid items 732 523 t1,255 Restricted assets
--Cash and pooled investments 179,186 179,186.,
174,520 2.67%
Fixed assets 44,458,595 44,458,595 44,253,235 0.46%
Amount available for debt service 3,747,603 3,747,603 3,874,618
-3.28%
Amount to be provided for retirement of general long-term debt 22,748,595 22.748,595 23,693,038
-3.99%
Total Assets and Other Debits 7,606,783
$ 10,773,819 3,803,893 $ 11,538,730
$ 44,458,595
$ 26,496,198
$ 104,678,018
$ 105,169,224
-0.47%
Liabilities and Equity Liabilities Accounts payable 207,126 400,766 607,892 575,144 5.69%
Salaries payable 509,030 409,967 918,997 820,250 12.04%
Contracts payable 513,107 513,107 434,040 18.22%
Unapportioned taxes and assessments 9,872,365 9,872,365 10,096,338
-2.22%
Due to other funds 143,859 96,309 240,168 3,090,891
-92.23%
Due to component unit 2,605
-100.00%
Due to other governments 135,890 267,104 1,666.365 2,069,359 1,984,175 4.29%
Deferred revenue 298,178 217,460 56,290 571,928 594,913
-3.86%
Advance from otherfunds 30,100 30,100 30,100 0.00%
Accrued closure and postclosure care 1.563,484 1,583.464 1,559.897 1.51%
Capital lease 151,661 151,661 140,233 8.15%
General obligation bonds and notes 22,206,749 22,208,749 23,401,643
-5.10%
Compensated absences 2,552,324 2,552,324 2,465,883 3.51%
Total Liabilities 1,294.083 1,934,813 $
56,290
$ 11,538,730
$ 26,496,198 41,320,114 45,196,112
-8.58%
Equity Investment in general fixed assets 44,458,595 44,458,595 44,253,235 0.46%
Fund balance Reserved (Note 3.0) 414,308 1,092.269 1,506,577 1,192,767 26.31%
Unreserved, designated for Future expenditures Debt service 3,747,603 3,747,603 3,874,618
-3.28%
Extension general programs 2,110 2,110 1,788 18.01%
Extension agriculture programs 7,629 7,629 6,133 24.39%
Extension WFIP 266
-100.00%
Extension chemical decisions 1,296 1,296 1,296 0.00%
Pay equity 43,700 43,700 43,700 0.00%
Extension publications 84 84 679
-87.63%
Compensated absences 459,288 459,288 415,418 10.56%
Byllesby Dam 315,578 315,578 277,125 13.88%
Subsequent years' expenditures 1,069,716 1,069,716 289,680 269.28%
Reserve compensation 441,928 441,928 604,527
-26.90%
State financing 1,179 1,179 1,479
-20.28%
Undesignated 4,016,351 7,286,270 11,302,621 9,010,401 25.44%
Total F-ulth IS 6.312.700 1 S 8.839.006 1 $
3.747.603 I $
S44-45A.595 I S S
63.357.904 1 59.973.112 5.64%
Total Uabllites and Equity 7,606,783 $ 10,773.819 3,803.8931 $ 11,538,730 ]$ 44,458,5951 $ 26,496,1981
$ 104,678,018
.0.47%,
COMBINED STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE ALL GOVERNMENTAL FUND TYPES FOR THE YEAR ENDING DECEMBER 31, 2002 EXHIBIT 2 Governmental Fund Types 2002 2001 Special Debt Financial Financial
% Change General Revenue Service Statements Statements 2001-2002 Revenues Taxes 11,129,334 6,359,866 $
3,093,602 20,582o82 $
21,039,891
-2.17%
Special assessments 1,168 1,168 1,157 0.95%
Licenses and permits 14,287 595,725 610,012 484,977 25.78%
Intergovernmental 3,180,989 9,724,738 5,474 12,911,201 14,385,498
-10.25%
Charges for services 2,502,449 2,663,929 5,166,378 4,218,788 22.46%
Materials for resale 194,666 194,666 130,017 49.72%
Fines and forfeits 255,174 255,174 258,469
-1.27%
Gifts and contributions 45,143 12,000 57,143 60,537
-5.61%
Investment earnings 256,288 139,794 20,473 416,555 1,501,014
-72.25%
Miscellaneous 576,370 591,250 1,167,620 1,300,526
-10.22%
Total Revenues 17,960,034 $
20,283,136 $
3,119,549 41,362,719 43,380,874
-4.65%
Expenditures Current General government 6,359,601 560,839 6,920,440 6,723,843 2.92%
Public safety 8,021,150 8,021,150 7,093,373 13.08%
Highways and streets 6,828,155 6,828,155 8,251,948
-17.25%
Sanitation 793,058 793,058 804,580
-1.43%
Human services 9,023,242 9,023,242 8,209,278 9.92%
Health 3,072,056 3,072,056 3,357,075
-8.49%
Culture and recreation 403,754 10,785 414,539 436,255
-4.98%
Conservation of natural resources 313,829 107 313,936 344,807
-8.95%
Economic development 221,650 10,102 231,752 307,055
-24.52%
Debt service Principal retirement 54,933 17,619 2,167,894 2,240,446 1,939,432 15.52%
Interest 26,431 3,037 1,078,670 1,108,138 1,248,767
-11.26%
Total Expenditures 15,401,348 20,319,000 3,246,564 38,966,912 38,716,413 0.65%
Excess of Revenues Over (Under)
Expenditures 2,558,686 (35,864) $
(127,015) 2,395,807 4,664,461
-48.64%
Other Financing Sources (Uses)
Capital lease 83,980 $
83,980 $
Operating transfers in 19,982 377,869 397,851 439,509
-9.48%
Operating transfers out (293,500)
(104,351)
(397,851)
(439,509)
-9.48%
Proceeds from sale of bonds 954,268 954,268 1,157,934
-17.59%
Loss on sale of investments (328,244)
(328,244)
Proceeds from loans 50,000
-100.00%
Total Other Financing Sources 680,750 29,254 710,004 1,207,934
-41.22%
Excess of Revenues and Other Sources Over (Under) Expenditures and Other Uses 3,239,436, $
(6,610) $
(127,015) 3,105,811 5,872,395
-47.11%
Fund Balance - January 1 3,073,264 8,771,995 3,874,618 15,719,877 9,817,498 60.12%
Residual equity transfer In 82,132
-100.00%
Residual equity transfer out (82,132)
-100.00%
Increase (Decrease) In Reserved for Inventories 73,621 73,621 29,984 145.53%
Fund Balance - December 31 6,312,700 8,839,006 3,747,603 18,899,309 15,719,877 20.23%
Revenues Property and other taxes Intergovernmental Fees/Charges/Rnes Investment earnings Other Expenditures General Government Public Safety Highways and streets Sanitation Human Services Health Other Debt Services 2002 20,582,802 49.76%
12,911,201 31.21%
6,031,564 14.58%
416,555 1.01%
1 40*7 ]4]
2001 21,039,891 48.50%
14.385,498 33.16%
4,962,234 11.44%
1,501,014 3.46%
1.492.737
- ]44O/,
41,362,719 100.00%
43,380,874 100.00%
2002 2001 6,920,440 17.76%
6,723,843 17.37%
8,021,150 20.58%
7,093,373 18.32%
6,828,155 17.52%
8,251,948 21.31%
793,058 2.04%
804.580 2.08%
9,023,242 23.16%
8,209,278 21.20%
3,072,056 7.88%
3,357,075 8.67%
960,227 2.46%
1,088,117 2.81%
3,348,584 8.59%
3,188,199 8.23%
38,966,912 100.00%
38,716,413 100.00%
Where it goes...
Debt Services 9%
General Other Government Public Safety Human Services 22%
Sanitation Highways and 29%
streets 18%
A PROFILE OF GOODHUE COUNTY Total Key Indicator 2003 Total 2002 Percent Increase (Decrease)
Estimated Population 45,167 44,127 2.30%
Total Tax Capacity
% of Property Taxes Collected Total General Revenues Total Program Revenues Total Expenses:
Governmental activities Capital Assets:
Governmental activities Total Outstanding Net Bonded Debt of Goodhue County:
General Obligation Bond Rating on Most Recent General Obligation Bond Issue Total Government-wide Net Assets:
Governmental activities Total Number of Full Time Employees 36,761,996 99.98%
23,795,495 181749,376 34,398,036 113,583,871 33,855,093 98.61%
Not Available*
Not Available*
Not Available*
111,860,097 7.91%
1.37%
1.52%
20,101,042 22,208,749
-10.49%
Al Al N/A 114,428,230 Not Available*
381 396
-3.94%
- The Governmental Accounting Standards Board (GASB) passed a new reporting requirement, GASB 34 which now requires Goodhue County to present financial information in a new and more user-friendly format. Prior year comparisons are not available for 2002 but will be available in our 2004 financial statements.
Summary of Goodhue County's Statement of Net Assets December 31, 2003 Assets Cash and pooled investments Petty cash and change funds Departmental cash Cash with escrow agent Taxes Receivable Accounts receivable - net Accrued interest receivable Loans receivable Due from other governments Prepaid items Inventories Restricted assets Cash and pooled investments permanent Capital assets Non-depreciable Depreciable - net of accumulated depreciation Primary Government Governmental Activities 24,781,360 4,300 45,080 789,748 505,744 128,687 41,320 81,888 1,160,248 1,236 364,029 Discretely Presented Component Units 202,722 2,533 9,429 182,401 12,435,166 101,148,705 378,550 Total Assets k 141,669,912 593,234 Liabilities Accounts payable Salaries payable Contracts payable Due to other governments Accrued interest payable Unearned revenue Long-term liabilities Due within one year Due in more than one year 523,801 954,033 287,426 448,176 382,916 695,168 3,297,451 20,652,711 Total Liabilities 27,241,682 Net Assets:
Invested in capital assets, net of related debt Restricted Unrestricted 95,135,427 972,149 18,320,654 378,550 214,684 Total Net Assets 114,428,230 593,234
GoodhuetCounty Statement of Activities For the Year Ended December 31, 2003 Program Revenues Operating Capital Fees, Charges, Grants and Grants and Expenses Fines and Other Contributions Contributions Net (Expense) Revenue and Changes in Net Assets Discretely Primary Government Presented Governmental Component Activities Total Units Functions/Programs Primary Government Governmental activities:
General government 7,655,589 2,004,027 206,605 20,900 (5,424,057)
(5,424,057)
Public safety 8,949,891 2,357,442 975,586 (5,616,863)
(5,616,863)
Highways and streets 4,354,340 63,088 2,388,085 2,006,527 103,360 103,360 Sanitation 780,723 145,669 (635,054)
(635,054)
Human Services 7,802,474 1,172,124 4,474,656 (2,155,694)
(2,155,694)
Health 2,941,852 1,931,964 785,704 (224,184)
(224,184)
Culture and recreation 580,890 (580,890)
(580,890)
Conservation of natural resources 220,143 34,533 169,881 11,547 (4,182)
(4,182)
Economic development 138,182 350 688 (137,144)
(137,144)
Interest 973,952 (973,952)
(973,952)
Total governmental activities 34,398,036 7,709,197 9,001,205 2,038,974 (15,648,660)
(15,648,660)
Total Primary Government Component units:
Belle Creek Watershed Total governmental activities 34,398,036 7,709,197 9,001,205 2,038,974 (15,648,660)
(15,648,660) 6,337 6,337 (6,337)
(6,337)
General revenues:
Property taxes Gravel taxes Mortgage registry and deed tax Payments in lieu of tax Grants and contributions not restricted to specific program Unrestricted investement earnings Total general revenues, transfers, and other items 20,959,103 20,959,103 5,108 72,605 72,605 85,222 85,222 133,179 133,179 2,338,470 2,338,470 473 206,916.00 206,916 6,578 23,795,495 23,795,495 12,159 Change in net assets Net assets - beginning 8,146,835 106,281,395 8,146,835 106,281,395 5,822 587,412 Net assets - ending 114,428,230 114,428,230 593,234
Goodhue County's 2003 Governmental Funds' Finances Where it comes from...
Charges/Fines O
10%
taxes 50%
Intergovernmenta 31%
Where it goes...
IDebt Services 8%1 General Govt 179]
Health 8%
Public Safety 24%/
Human Services 20%
[Ih..17%u L ~~L'
¶...
J -.'t
Summary of Goodhue County's Statement of Activities For the Year Ended December 31, 2003 Functions/Programs Primary Government Governmental activities:
General government Public safety Highways and streets Sanitation Human Services Health Culture. and recreation Conservation of natural resources Economic development Interest Total governmental activities Total Primary Government General Revenues and other Taxes Other general revenues Special items Expenses 7,655,589 8,949,891 4,354,340 780,723 7,802,474 2,941,852 580,890 220,143 138,182 973,952 34,398,036 34,398,036 Program Revenues 2,231,532 3,333,028 4,457,700 145,669 5,646,780 2,717,668 215,961 1,038 18,749,376
-18,749,376 Net (5,424,057)
(5,616,863) 103,360 (635,054)
(2,155,694)
(224,184)
(580,890)
(4,182)
(137,144)
(973,952)
(15,648,660)
-$.. (15,648,660),
21,250,109 2,545,386 8,146,835 Net change in net assets Component units:
Belle Creek Watershed 6,337
Goodhue County A Summary Balance Sheet of Governmental Funds December 31, 2003 Major Funds General Fund Public Works Fund Human Service Fund Debt Service Fund Assets:
Cash and investments Receivables Taxes Accounts Loans Due from other funds Due from other governments Prepaid items Inventories
$ 10,321,480
$ 5,426,052
$ 3,911,212
$ 3,882,468 270,168 65,000 125,331 235,616 700 68,962 18,928 4,481 511,591 112 364,029 58,665 8,959 3,570 359,821 209 79,494 198 Nonmajor Funds
$ 2,261,677 28,455 76,922 81,888 60,324 53,220 215
$ 2,562,701 Total Governmental Funds
$ 25,802,889 505,744 170,007 81,888 193,706 1,160,248 1,236 364,029
$ 28,279,747 Total assets
$ 11,018,295
$ 6,394,155
$ 4,342,436
$ 3,962,160 Liabilities:
Payables Accounts Salaries ontracts e to other funds uje to other governments Deferred revenue 436,773 537,228 18,040 30,346 117,129 241,280 59,624 89,002 269,386 24,961 14,903 989,381 261,270 172,811 92,673 295,245 283,566 36,134 793,801 154,992 954,033 287,426 45,726 193,706 20,899 448,176 64,425 104,693 1,683,345 Total Liabilities
$ 1,380,796
$ 1,447,257
$ 1,105,565 64,425 Fund balances:
Reserved Unreserved 583,948
$ 1,384,937 1,388 9,053,551 3,561,961 3,235,483
$ 3,897,735 362,444 215 2,200,042
$ 2,200,257
$ 2,562,701
$ 4,360,487
$ 5,868,223 18,051,037
$ 23,919,260
$ 28,279,747 Total fund balance Total liabilities and fund balance
$ 9,637,499
$ 4,946,898
$ 3,236,871
$ 3,897,735
$ 11,018,295
$ 6,394,155
$ 4,342,436
$ 3,962,160
Goodhue County A Summary of Governmental Funds Revenues and Expenditures For the Year Ended December 31, 2003 Major Funds General Fund Public Works Fund Human Service Fund Revenues:
Taxes Special assessments Licenses and permits Intergovernmental Charges for services Fines and forfeits Gifts and contributions Investment earnings Miscellaneous
$ 11,457,988
$ 2,858,069
$ 2,371,516 Debt Service Fund
$ 3,243,872 11,651 6,045 3,314 14,003 2,784,640 3,011,241 284,565 50,551 202,679 663,152 3,214 4,525,942 19,412 5,201,092 773,292 20,000 398,832 Nonmajor Funds
$ 1,138,056 120 650,423 708,560 1,799,900 10,224 202,913
$ 4,510,196 Total Governmental Funds 11,771 667,640 13,226,279 5,603,845 284,565 70,551 216,217 1,305,359
$ 42,455,728 40,462 Total revenues
$ 18,468,819
$ 7,447,099
$ 8,764,732
$ 3,264,882 Expenditures:
Cbuirent General government Public safety Highways and streets
- man services Sanitation Culture and recreation Conservation Economic development Debt service Principal retirement Interest and fiscal charges Total expenditures Excess of Revenues Over (Under) Expenditures Other financing sources (uses):
Transfers in Transfers out Bonds issued Discount on bonds issued
- Total other financing sources (uses)
Net Change in Fund Balances
$ 6,61 9,582 8,846,845 402,805 219,398 131,578 58,297 2,581 542,491 6,722,524 7,848,411 2,968,800 765,643 178,085 263 6,604 71,176 2,365 2,113,778 1,000,972
$ 16,281,086
$ 6,974,150
$ 7,848,411
$ 3,114,750
$ 2,187,733 472,949 916,321 150,132 49,669 97,923 (119,366)
(24,808)
(12,409)
$ 4,283,801 226,395 275,429 (266,438) 25,670 34,661 261,056
$ 7,162,073 8,846,845 6,722,524 7,848,411 2,968,800 765,643 580,890 219,661 138,182 2,243,251 1,005,918
$ 38,502,198
$ 3,953,530 423,021 (423,021) 25,670 25,670
$ 3,979,200 (69,697) 73,115 _$
(12,409)
$ 2,118,036 546,064 903,912 150,132_
Goodhue County A Summary of Fiduciary Funds' Net Assets and Changes in Net Assets As of and for the Year Ended December 31, 2003 Assets Cash and cash equivalents Departmental cash Due from other governments Total Assets Liabilities Due to component unit Due to other governments Agency Funds 1,481,647 103,460 78,280 1,663,387 2,517 1,660,870 1,663,387 Total Liabilities
Major Recipients of Goodhue County Expenditures The following is a list of the recipients of Goodhue County expenditures totaling $5,000 or more during 2003. The list does not include salaries paid to county employees nor does it include individuals who received federal, state or county human services aid.
NAME OF RECIPIENT ACS AFFINITY PLUS FEDERAL CU VISA AG PARTNERS COOP AGGREGATE INDUSTRIES INC ALL STEEL PRODUCTS CO INC AMERICAN SOLUTIONS FOR BUSINESS ANDERSON TRUCKING ROCK & LIME ARAMARK SERVICES INC ARDEA COMMUNICATIONS,INC ARMORY DENTAL ARROW BUILDING CENTER ASSOCIATED.BANK NA ASSOCIATION OF MN COUNTIES AVENTIS PASTEUR INC AVIANDS S
BAUER BUILT TIRE CENTER BECKMAN/WILLIAM & SHERRY BEHAVIORAL CHANGE SERVICES BEHRENS SUPPLY - RED WING BELLE CREEK TOWNSHIP BELLE CREEK WATERSHED BELLECHESTER CITY BELVIDERE TOWNSHIP BENEFIT EXTRAS INC BENTLEY SYSTEMS INC BETCHER LAW OFFICE BITUMINOUS MATERIALS INC BLUE,DO/MICHAEL BMCA OUTBOARD DIVISION BORNNIVIAN BRAUN INTERTEC CORPORATION BRIGHAM GROUP INC BROCK WHITE CANNON FALLS BEACON CANNON FALLS CITY CANNON FALLS HOSPITAL DISTRICT CANNON FALLS TOWNSHIP CANNON VALLEY FAIR ASSN CANNON VALLEY TRAIL CANON FINANCIAL SERVICES INC CARGILL INC CARVER COUNTY TREASURER CATHOLIC CHARITIES TOTAL AMOUNT RECEIVED IN 2003 7,272.35 26,982.12 20,294.35 16,793.11 8,870.39 13,065.78 6,469.88 663,701.11 5,640.76 9,839.00 8,344.73 83,599.06 30,019.00 19,651.35 13,752.60 15,510.84 13,040.00 6,000.00 7,067.46 128,132.95 5,866.31 12,008.36 69,794.94 10,740.30 9,080.36 9,607.50 7,936.33 60,562.50 11,468.41 7,990.00 7,505.00 6,945.90 7,822.10 9,006.86 2,787,056.20 313,116.04 208,549.85 17,500.00 35,338.02 10,473.07 76,657.94 5,000.00 5,000.00
CDW GOVERNMENT INC CHERRY GROVE TOWNSHIP COMMERCIAL ASPHALT CO COMMISSIONER OF REVENUE COMMISSIONER OF TRANSPORTATION COMPAQ COMPUTER CORP COMPUTER INFORMATION CORPORATE EXPRESS COUNTRYWIDE FUNDING CORP COVERED BRIDGE RIDERS-ZUMBROTA D & R VENDING DAKOTA CO FINANCIAL SERVICES DAKOTA COUNTY TREASURER-AUDITOR DELL MARKETING L P DENNIS PHD/KENNETH L DENNISON CITY DEPARTMENT OF ADMINISTRATION DEPARTMENT OF REVENUE DOCUTECH CONSULTING INC DODGE COUNTY HWY DEPT DODGE COUNTY PUBLIC HEALTH EARL F ANDERSEN INC ECOLAB ELECTION SYSTEMS & SOFTWARE, INC ERGONOMIC OFFICE FURNITURE O
ERICKSON ENGINEERING ESRI INC EVERCOM SYSTEMS INC EXPRESS PERSONNEL SERVICES FAIRVIEW RED WING HEALTH SERVICES FALK AUTO BODY INC FARM COUNTRY COOP FARMER'S UNION CO OP OIL FEATHERSTONE TOWNSHIP FILLMORE COUNTY PUBLIC HEALTH FIRST AMERICAN RE FLORENCE TOWNSHIP FORD MOTOR CREDIT COMPANY FREEBORN COUNTY PUBLIC HEALTH FRONTIER PRECISION INC GALLS INC GATEWAY COMPANIES INC GLAXO SMITH KLINE, GOODHUE CITY GOODHUE COUNTY ABSTRACT CO GOODHUE COUNTY ATTORNEY OFFICE GOODHUE COUNTY AUD-TREAS:EDA GOODHUE COUNTY AUDITOR-TREASURER GOODHUE COUNTY CHILD SUPPORT GOODHUE COUNTY COURT ADMIN GOODHUE COUNTY EDUCATION DIST GOODHUE COUNTY EXTENSION SVCS 17,668.83 103,010.79 15,887.61 6,710.71 12,111.27 25,620.69 13,250.00 39,085.18 5,227.00 13,128.00 105,392.05 9,460.00 9,517.77 20,790.64 5,250.00 43,384.49 6,224.17 2,758,977.99 5,751.00 629,131.18 9,528.00 6,377.65 7,458.22 19,756.29 5,964.48 33,892.99 7,838.14 33,320.00 5,401.96 75,668.09 5,727.43 97,432.07 13,979.69 123,075.12 9,726.00 12,730.00 226,570.66 24,689.40 12,600.00 21,988.95 27,078.53 95,780.91 5,715.70 253,956.19 6,349.36 53,960.51 30,862.90 402,175.31 15,964.59 307,582.91 60,632.02 17,500.00
GOODHUE COUNTY FAIR GOODHUE COUNTY FSC GOODHUE COUNTY HISTORICAL SOCIETY GOODHUE COUNTY PUBLIC HEALTH GOODHUE COUNTY PUBLIC WORKS GOODHUE COUNTY SOCIAL SERVICES GOODHUE COUNTY SUMMER RECREATION GOODHUE FIRE DEPARTMENT GOODHUE TOWNSHIP GREENWAY COOPERATIVE SERVICE GROVER AUTO CO H & L MESABI H M CRAGG CO HANSON & GEORGE MARKETING HAY CREEK TOWNSHIP HAY GROUP INC HERC-U-LIFT HEWLETT PACKARD COMPANY HIAWATHA VALLEY ADULT HINKLEY CHEVROLET HOLDEN TOWNSHIP HOLM BROTHERS CONSTRUCTION HOUSTON COUNTY PUBLIC HEALTH HUMANE SOCIETY-GOODHUE CO O
IBM CORPORATION IKON OFFICE SOLUTIONS IMPERIAL CLEANING SERVICE INC INSTY-PRINTS ISD DISTRICT 255 ISD DISTRICT 256 J-CRAFT INC JOHNSON TIRE SERVICE JOYNES/BILL JR'S APPLIANCE DISPOSAL INC KANE & JOHNSON ARCHITECTS INC KANSAS STATE BANK KEEPRS KENYON CITY KENYON FIRE DEPT KENYON SNOWDRIFTERS-KENYON KENYON TOWNSHIP KENYON-WANAMINGO PUBLIC SCHOOL KIDS ARE WORTH IT,INC KIELMEYER CONSTRUCTION KILLOLOGY RESEARCH GROUP KRAUSE/EDWARD WILLIAM KRIS ENGINEERING LA CROSSE/CITY OF LABOR RELATIONS ASSOC INC LAKE CITY LASERSHARP INC LAWRENCE GROUP 30,030.00 214,978.50 128,678.83 480,478.19 135,323.04 40,277.96 29,000.00 7,604.73 151,236.04 6,517.48 17,992.65 6,460.72 22,578.00 5,583.17 163,632.16 17,000.00 10,083.42 17,245.82 8,970.00 138,163.80 127,438.74 3,017,643.82 9,528.00 5,083.64 69,660.05 32,584.90 8,768.16 10,990.46 351,888.24 5,552,399.73 7,574.94 14,485.84 5,014.00 6,491.25 16,112.49 8,598.45 15,309.75 688,602.71 6,878.75 9,088.00 108,113.46 20,572.54 6,517.69 25,786.05 7,920.68 5,060.00 5,226.49 7,000.00 19,374.75 698,812.48 6,202.39 7,610.00
LEICA GEOSYSTEMS INC LEON TOWNSHIP LERETA CORP CENTRAL REFUNDS LESLEE SCOTT INC LEXIS NEXIS LEXISNEXIS MATTHEW BENDER LICENSE CENTER LOHMANN/DAVID LSS/CROSSROADS EAST MAYO CLINIC MAYO MEDICAL TRANSPORT MCCC MI 33 MCIT MCKINLEY/GEORGE MEMORIAL BLOOD CENTER MID AMERICA DAIRYMEN INC MIDWEST FENCE AND MFG CO MIDWEST WIRELESS MINNEOLA TOWNSHIP MINNESOTA HUMAN SERVICES MINNESOTA STATE AUDITOR MINNOWA CONSTRUCTION INC MN CLE MN DEPT OF ADM MN DEPT OF CORRECTIONS-STS MN DEPT OF ECONOMIC SECURITY MN DEPT OF EMPLOYMENT ECONOMIC MN DEPT OF FINANCE MN DEPT OF HEALTH MN DEPT OF HUMAN SERVICES MAPS MN SHERIFFS ASSN MN STATE TREASURER TIF MN STATE TREASURER, ACCOUNTING MONARCH PAVING COMPANY MONTICELLO FORD-MERCURY MOWER COUNTY PUBLIC HEALTH NAPA - RED WING NATIONAL BUSINESS SYSTEMS INC NCS PEARSON NEWMAN TRAFFIC SIGNS NIEBUR IMPLEMENT CO NORD SANITATION INC NORTH AMERICAN SALT CO NORTHERN AIR CORP OFFICE DEPOT INC OFFICE SOLUTION PROVIDERS INC OLMSTED CO HAZARDOUS WASTE OLMSTED COUNTY OLMSTED COUNTY PUBLIC HEALTH OLSON/KATHY OVERHEAD DOOR CO OF THE NORTH PACE ANALYTICAL 35,175.19 145,717.62 12,900.37 11,406.21 12,400.00 6,845.73 7,008.51 8,420.00 13,590.00 82,114.28 6,566.00 107,090.44 546,242.00 10,234.00 7,340.00 35,552.53 5,871.63 36,148.69 129,446.39 24,104.91 34,573.15 478,073.95 5,414.09 15,280.40 135,587.50 11,468.82 8,254.08 774,269.05 5,745.50 147,197.87 5,633.65 5,598.08 4,388,301.74 5,367.31 23,391.66 14,574.00 5,057.68 12,865.42 5,177.95 23,878.77 24,050.77 22,513.69 16,942.31 5,635.00 32,302.85 17,473.72 6,395.65 13,163.19 49,067.85 10,736.97 10,980.44 21,394.00
PEARSON BROTHERS INC PESTOP INC PHILIPS MEDICAL SYSTEMS PINE BEND PAVING INC PINE ISLAND CITY PINE ISLAND TOWNSHIP POSTNET MN 107 POWER PLAN OIB POWERWARE PREMIER LIGHTING INC PROACT INC PROFESSIONAL PORTABLE XRAY INC PROGRESSIVE CONTRACTORS INC QWEST QWEST INTERPRISE AMERICA INC RAPP OIL CO RAY O'HERRON CO INC RED WING ACE HARDWARE RED WING CITY AMBULANCE RED WING CITY-FINANCE RED WING CITY-PUBLIC WORKS RED WING FIRE DEPARTMENT RED WING INCINERATOR RED WING MOTORS O
RED WING PUBLIC SCHOOLS RED WING RIVER VIEW RIDERS-RW RED WING SERVICE CO INC REGINA MEDICAL CENTER RICE COUNTY PUBLIC HEALTH RITZ CAMERA RIVERFRONT FORD RIVERTOWN NEWSPAPER GROUP ROAD CONSTRUCTORS INC ROCHESTER SAND & GRAVEL ROHR/KENNETH ROSCOE TOWNSHIP SCHAFER REAL ESTATE SCHARPEN/NORMA SCHILLING PAPER CO SCHLIEP/LESLIE SCHOOL DISTRICT 195 SCHOOL DISTRICT 2125 SCHOOL DISTRICT 2172 SCHOOL DISTRICT 252-CF SCHOOL DISTRICT 253-GOODHUE SCHOOL DISTRICT 2805 SCHOOL DISTRICT 659 SCHOOL DISTRICT 813 SCHULZ/TODD Oh SCHUMACHER ELEVATOR CO SCHUMACHER EXCAVATING INC SCHWARTAU/CHUCK 200,775.85 10,313.08 7,613.36 39,947.58 560,832.56 117,436.15 5,249.50 11,951.50 12,289.30 8,086.84 15,869.21 6,900.00 115,512.63 14,035.38 5,965.00 17,201.39 36,976.84 6,064.96 7,224.50 13,252,519.20 41,576.53 7,320.05 58,845.00 9,234.50 10,000.00 15,147.00 7,429.39 63,943.00 22,470.00 13,242.80 70,213.08 23,397.39 7,267.60 35,118.22 7,116.94 150,085.66 11,050.00 5,993.00 13,851.72 7,278.00 110,258.49 15,512.89 1,296,668.08 1,277,406.57 504,955.05 764,813.92 36,092.70 169,623.64 5,163.00 14,600.49 244,694.93 5,158.48
SEMMCHRA SEMNTF SGTS INC SHAMROCK ENTERPRISES SHORT ELLIOT HENDRICKSON INC SIMPLEX GRINNELL SMITH PHD/BOBBY E SOIL & WATER CONSERVATION SORENSON/KERRY SOUTHEASTERN LIBRARY CO-OP SPRINT (CHARLOTTE)
SRF CONSULTING GROUP INC ST JOSEPH CHURCH STANTON TOWNSHIP STARTECH COMPUTING, INC STATE OF MINNESOTA STATE OF MINNESOTA-DEPT OF PUB STATE OF MINNESOTA-SALES & USE STATE OF MN STATE TREASURER STEBERG/GLEN STEELE COUNTY PUBLIC HEALTH STEHR/JON A STELTER/JULIE R STREICHERS PROF POLICE EQUIP STROBEL & HANSON SUBURBAN DISPOSAL INC SVIGGUM/BEVERLY TDS METROCOM THERMAL TECHNOLOGIES INC THOMAS E GORMAN LAW OFFICE THREE RIVERS COMMUNITY ACTION THRIFTY WHITE STORES TRAFFIC MARKING SERVICE INC TRANSAMERICA (TX)
TRAPP/WAYNE THOMAS TRI-STATE BUSINESS MACHINES TRIMIN SYSTEMS INC TWIN RIVER RIDERS-CANNON FALLS UGLAND/RYAN UNIFORMS UNLIMITED INC UNITED STATES POSTAL SERVICE UNIVAR USA INC UNIVERSITY OF MINNESOTA UNIVERSITY OF MN-FISCAL UNRUH/EDWARD US BANK US POSTAL SERVICE (AMS-TMS)
US POSTMASTER VASA TOWNSHIP VOGEL & GORMAN PLC WABASHA COUNTY PUBLIC HEALTH 243,365.16 5,000.00 62,006.62 7,318.66 43,565.11 5,326.49 5,685.17 432,611.90 9,592.13 274,773.00 36,251.16 97,299.88 10,180.00 138,140.12 21,787.07 24,707.36 95,998.42 13,447.00 5,520.00 50,006.00 51,788.00 14,334.00 19,859.00 5,478.11 10,826.87 8,972.08 24,997.78 6,576.00 86,362.46 48,476.10 24,496.50 7,520.66 99,736.80 88,149.42 16,552.00 16,909.00 9,146.05 40,829.07 9,088.00 12,005.00 8,568.01 38,500.00 62,714.51 8,236.15 68,384.90 7,449.00 2,577,269.43 54,000.00 11,910.00 131,713.99 8,959.50 10,230.00
WACOUTA TOWNSHIP WAGGONER ENGINEERING INC WALKER/FRED WANAMINGO CITY WANAMINGO TOWNSHIP WARSAW TOWNSHIP WELCH TOWNSHIP WELLS CREEK RIDERS-FRONTENAC WELLS FARGO BANK-RED WING WELLS FARGO BROKERAGE SERVICES WELLS FARGO REAL ESTATE TAX SE WEST GROUP WHITE ROCK BANK - CF WHITEWATER WIRELESS INC WIDSETH SMITH NOLTING WILSON OIL AND GAS COMPANY WINONA COUNTY TREASURER WOODLAND HILLS WORKFORCE DEVELOMENT INC WSB & ASSOC INC XCEL ENERGY YAGGY COLBY ASSOC ZIEGLER INC ZUMBROTA CITY ZUMBROTA FORD-MERCURY INC ZUMBROTA TOWNSHIP VENDORS LESS THAN $5,000 GRAND TOTAL 62,583.98 100,000.00 6,294.68 417,987.35 140,682.86 176,116.13 150,442.23 15,149.00 14,726.42 523,772.27 17,429.00 48,425.34 39,293.90 35,742.26 42,178.70 27,743.08 19,188.00 5,200.70 221,415.29 39,882.55 353,268.71 17,111.32 89,379.14 826,969.86 17,231.19 121,713.52 1,277,623.31 60,229,114.22
A PROFILE OF GOODHUE COUNTY Key Indicator Estimated Population Total Tax Capacity
% of Property Taxes Collected Total General Revenues Total Program Revenues Total Expenses:
Governmental activities Capital Assets:
Governmental activities Total Outstanding Net Bonded Debt of Goodhue County:
General Obligation Bond Rating on Most Recent General Obligation Bond Issue Total Government-wide Net Assets:
Governmental activities Total Number of Full Time Employees Total 2004 45,679 39,785,444 99.02%
23,820,308 19,067,099 Total 2003 45,167 36,761,996 99.98%
23,795,495 18,749,376 Percent Increase (Decrease) 1.12%
7.60%
-0.97%
0.10%
1.67%
6.90%
3.34%
36,948,468 34,398,036 117,506,372 113,583,871 19,136,064 20,101,042
-5.04%
Al 120,500,741 Al 114,428,230 N/A 5.04%
369 381
-3.25%
Goodhue County's 2004 Governmental Funds' Finances I
Where it comes from...
Charges for]
services 12%
Property and othe taxes 50%
Intergovemmenta 32%
Where it goes...
Debt SeOihes 8%
IGeneral Govt 17%I Public Sa o 2 %
Human Services P
S.19%ucf2 I Highways 24%
Summary of Goodhue County's Statement of Net Assets December 31, 2004 Primary Government Governmental Activities Discretely Presented Component Units Assets Cash and pooled investments Petty cash and change funds Departmental cash Cash with escrow agent Taxes Receivable Accounts receivable - net Accrued interest receivable Loans receivable Due from other governments Due from primary governments Prepaid items Inventories Restricted assets Cash and pooled investments permanent Deferred-charges Capital assets Non-depreciable Depreciable - net of accumulated depreciation 23,909,944 4,150 10,231 1,691,531 579,149 136,921 23,639 46,646 1,954,310 207,296 13,518 174 1,240 374,817 185,677 123,917 10,112,112 107,394,260 378,550 Total Assets 146,548,544 599,538 Liabilities Accounts payable Salaries payable Contracts payable Due to other governments Accrued interest payable Unearned revenue Long-term liabilities Due within one year Due in more than one year 636,254 529,700 308,943 756,434 327,628 361,586 4,469,372 18,657,886 Total Liabilities 26,047,803 Net Assets:
Invested in capital assets, net of related debt Restricted for Debt service Landfill postclosure Unrestricted 101,123,809 1,691,531 185,677 17,499,724 120,500,741 378,550 220,988 599,538 Total Net Assets
Goodhue County Statement of Activities For the Year Ended December 31, 2004 0
- NOT FOR PUBLICATION ***
Functions/Proqrams Primary Government Governmental activities:
General government Public safety Highways and streets Sanitation Human Services Health Culture and recreation Conservation of natural resources Economic development Interest Total governmental activities Total Primary Government Component units:
Belle Creek Watershed Total governmental activities Expenses 7,439,119 9,138,241 6,540,118 762,432 8,125,366 3,059,038 562,307 442,795 19,435 859,617 36,948,468 36,948,468 9,284 9,284 Fees, Charges, Fines and Other 1,514,734 1,868,289 79,732 255,494 1,211,335 1,997,154 22,779 191 6,949,708 6,949,708 Program Revenues Operating Grants and Contributions 389,704 706,643 3,515,566 4,188,854 402,739 113,396 309,287 432 9,626,621 Net (Expense) Revenue and Changes in Net Assets Discretely Primarv Government Presented Capital Grants and Contributions Governmental Activities Total Component Units 30,412 (5,504,269)
(6,563,309) 2,443,919 (500,901)
(506,938)
(2,725,177)
(659,145)
(426,132) 16,439 (116,878)
(19,003)
(859,617) i 2,490,770 (17,881,369)
(5,504,269)
(6,563,309)
(500,901)
(506,938)
(2,725,177)
(659,145)
(426,132)
(116,878)
(19,003)
(859,617)
(17,881,369)
(17,881,369) 9,626,621 2,490,770 (17,881,369)
General revenues:
Property taxes Gravel taxes Mortgage registry and deed tax Payments in lieu of tax Grants and contributions not restricted to specific program Unrestricted investment earnings Miscellaneous Gain on sale of capital assets Total general revenues 21,563,746 80,926 61,074 147,406 1,509,487 412,073 33,010 12,586 23,820,308 21,563,746 80,926 61,074 147,406
.1,509,487 412,073 33,010 12,586 23,820,308 (9,28.4)
(L,2841 10,331 5,251 6
15,588 Change in net assets Net assets - beginning 5,938,939 5,938,939 6,304 114,561,802 120,500,741 114,561,802 120,500,741 593,234 599,538 Net assets -ending
Summary of Goodhue County's Statement of Activities For the Year Ended December 31, 2004 Functions/Proarams Primary Government Governmental activities:
General government Public safety Highways and streets Sanitation Human Services Health Culture and recreation Conservation of natural resources Economic development Interest Total governmental activities Total Primary Government General Revenues and other Taxes Other general revenues Special items Expenses 7,439,119 9,138,241 6,540,118 762,432 8,125,366 3,059,038 562,307 442,795 19,435 859,617 36,948,468 36,948,468 Program Revenues 1,934,850 2,574,932 6,039,217 255,494 5,400,189 2,399,893 136,175 325,917 432 19,067,099 19,067,099 Net (5,504,269)
(6,563,309)
(500,901)
(506,938)
(2,725,177)
(659,145)
(426,132)
(116,878)
(19,003)
(859,617)
(17,881,369)
(17,881,369) 21,853,152 1,967,156 5,938,939 (9,284)
Net change in net assets Component units:
Belle Creek Watershed 9,284
Goodhue County A Summary Balance Sheet of Governmental Funds December 31, 2004 Major Funds General Fund Public Works Fund Human Service Fund Debt Service Fund Assets:
Cash and investments Receivables Taxes Accounts Loans Due from other funds Due from other governments Prepaid items Inventories
$ 11,044,128
$ 3,586,140
$ 4,147,916
$ 4,861,361 314,754 50,678 195,597 447,643 693 76,713 16,149 6,126 736,201 115 374,817 72,405 7,118 4,284 681,269 212 89,830 Nonmajor Funds
$ 2,161,988 25,447 86,615 46,646 62,831 89,197 220
$ 2,472,944 Total Governmental Funds
$ 25,801,533 579,149 160,560 46,646 268,838 1,954,310 1,240 374,817
$ 29,187,093 Total assets
$ 12,053,493
$ 4,796,261
$ 4,913,204
$ 4,951,191 Liabilities:
Payables Accounts Salaries ueto other governments Deferred revenue - unavailable Deferred revenue - unearned 821,019 37,328 287,299 52,304 308,943 36,520 42,368 48,242 10,293 356,714 530,209 130,520 183,276 94,777 122,033 680,687 290,749 231,066
$60 67,714 Total Liabilities Fund balances:
Reserved Unreserved Total fund balance
$ 1,549,794
$ 1,111,965
$ 1,602,588 67,774 492,143
$ 1,272,155 1,441
$ 1,691,531 10,011,556 2,412,141 3,309,175 3,191,886
$ 10,503,699
$3,684,296
$3,310,616
$ 4,883,417
$ 12,053,493
$ 4,796,261
$ 4,913,204
$ 4,951,191 34,571 95,320 67,917 17,212 93,233 308,253 220 2,164,471
$ 2,1-64,691
$ 2,472,944
$ 1,076,254 529,700 308,943 268,838 756,434 1,338,619 361,586
$ 4,640,374
$ 3,457,490 21,089,229
$ 24,546,719
$ 29,187,093 Total liabilities and fund balance
Goodhue County A Summary of Governmental Funds Revenues and Expenditures For the Year Ended December 31, 2004 Major Funds Revenues:
Taxes Special assessments Licenses and permits Intergovernmental Charges for services Fines and forfeits Gifts and contributions Investment earnings Miscellaneous General Fund
$ 12,021,588 1,455 13,320 2,451,199 2,373,925 150,903 31,369 409,969 522,534 Public Works Fund Human Service Fund 2,849,099 2,760,062 9,355 6,153,008 37,847 32,530 Debt Service Fund
$ 3,142,625 14,984 5,812 3,305 4,174,767 738,992 472,343 Nonmajor Funds 907,352 637,803 683,170 1,835,611 71 2,265 205,436
$ 4,271,708 Total Governmental Funds 16,439 660,478 13,467,956 4,986,375 150,903 31,440 415,539 1,232,843
$ 42,642,699 Total revenues
$ 17,976,262
$ 9,081,839
$ 8,146,164
$ 3,166,726 Expenditures:
Current General government Public safety Highways and streets uman services I
ealt Sanitation Culture and recreation Conservation Economic development Debt service Principal retirement Interest and fiscal charges Bond issuance costs Advance refunding escrow Intergovernmental Highways and streets Total expenditures Excess of Revenues Over (Under) Expenditures Other financing sources (uses):
Transfers in Transfers out Proceeds from refunding bonds Payment to refunded bond escrow Premium on bonds issued Proceeds from sale of capital assets
$ 6,741,912 8,906,479 10,349,127 596,79 8,128,735 683,52 3,091,29 427,047 441,554 20,062 1,426 135,260 19,43 7
7,338,709 8,906,479 10,349,127 7
683,527 8,128,735 4
3,091,294 562,307
.441,554 5
19,435 2,065,040 914,905 123,917 425,000 314,915 3
$ 43,364,944 2,044,978 913,479 1-123,917 425,000 314,915
$ 16,538,480
$ 10,799,302
$ 8,128,735
$ 3,507,374
$ 1,437,782
$ (1,717,463) 17,429 (340,648)
$ 4,391,05
$. (119,345)
(722,245)
(578,353) 441,573 2,500 56,316 6,140,000 (4,845,871) 32,201 80,464 578,353 (578,353) 6,140,000 (4,845,871) 32,201 3,315 12,586 6,771 Total other financing sources (uses)
Net Change in Fund Balances (571,582) 444,073 56,316 1,326,330 866,200
$ (1,273,390) 73,745 985,682 83,779 1,338,916 (35,566) 616,671
Goodhue County A Summary of Fiduciary Funds' Net Assets and Changes in Net Assets As of and for the Year Ended December 31, 2004 Assets Cash and cash equivalents Departmental cash Due from other governments Total Assets Liabilities Due to component unit Due to other governments Agency Funds 1,375,182 24,966 111,074 1,511,222 174 1,511,048 1,511,222 Total Liabilities
Major Recipients of Goodhue County Expenditures The following is a list of the recipients of Goodhue County expenditures totaling $5,000 or more during 2004. The list does not include salaries paid to county employees nor does it include individuals who received federal, state or county human services aid.
NAME OF RECIPIENT ABSOLUTE TRAILER SALES INC ACCU STEEL INC AFFINITY PLUS FEDERAL CU VISA AG PARTNERS COOP AGGREGATE INDUSTRIES INC ALL STEEL PRODUCTS CO INC ALL SYSTEMS INSTALLATION AMERICAN SOLUTIONS FOR BUSINESS AQUILA ARMORY DENTAL ARROW BUILDING CENTER ASSOCIATED BANK NA ASSOCIATION OF MN COUNTIES ASTECH AVENTIS PASTEUR INC AVIANDS AVNET O
BAUER BUILT TIRE CENTER BEAR GRAPHICS INC BEHAVIORAL CHANGE SERVICES BEHRENS SUPPLY - RED WING BELLE CREEK TOWNSHIP BELLE CREEK WATERSHED BELLECHESTER CITY BELVIDERE TOWNSHIP BENEFIT EXTRAS INC BENTLEY SYSTEMS INC BLACK CANYON RADIOS INC BLUE,DO/MICHAEL BOB BARKER COMPANY BORN/ViVlAN BOUND TREE MEDICAL BROCK WHITE BUCK'S ELECTRIC INC CANNON FALLS BEACON CANNON FALLS CITY CANNON FALLS HOSPITAL DISTRICT CANNON FALLS TOWNSHIP CANNON VALLEY FAIR ASSN CANNON VALLEY TRAIL CANON FINANCIAL SERVICES INC CARLSON/STEVEN CDW GOVERNMENT INC CHERRY GROVE TOWNSHIP CIT INFORMATION SERVICES COMMERCIAL ASPHALT CO COMMISSIONER OF TRANSPORTATION TOTAL AMOUNT RECEIVED IN 2004 43,383.54 28,322.00 26,446.58 78,211.91 16,732.34 15,602.25 7,748.00 26,360.39 5,401.33 10,959.00 7,037.45 30,302.19 27,084.00 385,258.11 28,049.62 287,513.77 24,528.01 20,236.70 7,383.33 6,000.00 6,075.74 132,151.90 9,841.58 12,498.67 72,574.67 13,246.25 8,991.51 6,938.40 56,365.00 6,337.99 8,420.00 9,654.01 7,883.67 16,107.45 5,136.04 2,953,956.70 319,342.96 203,146.59 13,125.00 28,050.33 11,024.72 5,072.00 31,459.53 105,984.69 18,952.50 14,523.06 28,491.19
COMPUTER INFORMATION CORE ENGINEERED SOLUTIONS INC O
CORPORATE EXPRESS COVERED BRIDGE RIDERS-ZUMBROTA CURTIS BENSON & SONS INC CUSTOM ALARM D & R VENDING DAKOTA COUNTY TREASURER-AUDITOR DELL MARKETING L P DENNISON CITY DEPARTMENT OF REVENUE DICKE/JAMES DICKE/WAYNE DIORIO/LEAH M DOCUTECH CONSULTING INC DODGE COUNTY HWY DEPT DOSDALLIROBERT DYNAVOX SYSTEMS ELECTION SYSTEMS & SOFTWARE INC ERICKSON ENGINEERING ESRI INC EVERCOM SYSTEMS INC EXPRESS PERSONNEL SERVICES FAIRVIEW RED WING HEALTH SERVICES FALK AUTO BODY INC FARM COUNTRY COOP FARM PLAN FARMER'S UNION CO OP OIL FEATHERSTONE TOWNSHIP FINUCAN/LINDA FIRST AMERICAN RE (IL)
FIRST AMERICAN RE TAX SVC (DAL)
FLORENCE TOWNSHIP FNIS - MOVROVIA FRANK MADDEN & ASSOC GALLS INC GATEWAY COMPANIES INC GLAXO SMITH KLINE GOODHUE CITY GOODHUE COUNTY GOODHUE COUNTY ABSTRACT CO GOODHUE COUNTY COURT ADMIN GOODHUE COUNTY EDUCATION DIST GOODHUE COUNTY FAIR GOODHUE COUNTY FSC GOODHUE COUNTY HISTORICAL SOCIETY GOODHUE COUNTY SUMMER RECREATION GOODHUE TOWNSHIP GREENWAY COOPERATIVE SERVICE GRIMSRUD PUBLISHING CO GROVER AUTO CO H M CRAGG CO HADER FARMS INC HAMLINE UNIVERSITY HANCOCK CONCRETE PRODUCTS CO HANSON SILO CO 14,000.00 12,419.70 53,547.25 16,072.00 16,289.31 7,800.00 76,206.65 24,919.76 22,747.67 45,747.28 1,972,392.30 7,593.00 6,151.00 8,487.50 6,469.88 38,926.22 8,388.00 7,295.00 16,538.83 14,415.00 9,715.36 21,444.38 8,175.78 115,093.31 8,039.35 96,279.76 9,899.48 19,677.63 126,961.63 8,089.58 6,473.00 6,990.00 227,951.49 5,023.00 13,086.70 10,217.54 41,587.84 5,733.09 305,750.50 959,189.97 5,604.93 10,600.35 41,032.52 22,876.00 340,603.00 100,788.04 10,000.00 150,998.14 7,000.18 6,647.38 26,963.47 58,042.87 6,050.00 7,300.00 10,712.42 23,053.50
HANSON/DUANE HAY CREEK TOWNSHIP
- )l HDS SPECIALTY VEHICLES HEWLETT PACKARD COMPANY HIAWATHA VALLEY ADULT HIGHWAY SERVICES HILLTOP COMMUNICATIONS INC HIMMER/JOE HINKLEY CHEVROLET HOLDEN TOWNSHIP HOLM BROTHERS CONSTRUCTION HOPE CEMETERY ASSN HUEBSCH LINEN HUMANE SOCIETY-GOODHUE CO IBM CORPORATION IKON OFFICE SOLUTIONS IMAGETECH SERVICES IMPERIAL CLEANING SERVICE INC INSTITUTE FOR ENVIRONMENTAL ASSN INSTY-PRINTS INTERNAL REVENUE SERVICE J-CRAFT INC JC ENVIRONMENTAL AND DEMOLITION JOHNSON TIRE SERVICE JOHNSON/SUSAN K JOYNES/BILL JR'S APPLIANCE DISPOSAL INC KANE & JOHNSON ARCHITECTS INC KENYON CITY KENYON SNOWDRIFTERS-KENYON KENYON TOWNSHIP KENYON-WANAMINGO PUBLIC SCHOOL KIELMEYER CONSTRUCTION LABOR RELATIONS ASSOC INC LAKE CITY LARKIN/JEFF LASERSHARP INC LEON TOWNSHIP LESLEE SCOTT INC LEXIS NEXIS LEXISNEXIS MATTHEW BENDER LICENSE CENTER LOCKRIDGE GRINDAL NAUEN LUHMAN CONSTRUCTION CO INC MACQUEEN EQUIPMENT MALMQUIST COM FURNISHINGS MANCIL FAMILY LTD PARTNERSHIP MATHY CONSTRUCTION MCCC MI 33 MCIT MCKESSON MEDICAL MCLAUGLIN/BARBARA MCLEOD COUNTY TREASURER MEINCKE/DAVID R MERCURY WASTE SOLUTIONS INC MICRO SYSTEMS SUPPORT 14,924.00 163,468.50 16,950.00 23,010.38 9,438.00 6,808.50 12,181.84 8,750.00 102,156.41 122,281.48 1,891,179.38 5,927.00 5,136.59 12,840.23 54,911.43 29,384.88 15,916.80 9,296.64 14,876.50 7,852.08 9,203.06 131,075.87 110,371.50 23,798.39 25,547.86 12,044.50 8,199.00 48,255.26 663,170.33 18,084.55 112,615.50 17,103.54 94,611.91 15,178.25 325,555.12 22,500.00 6,045.34 146,462.95 9,003.20 12,110.00 6,663.21 11,387.80 16,666.68 5,702.53 12,180.99 11,050.82 12,810.00 2,401,482.94 98,186.99 538,524.50 9,146.51 9,892.50 11,205.93 88,889.00 7,281.85 8,346.00
MIDWEST WIRELESS MINNEOLA TOWNSHIP MINNESOTA HUMAN SERVICES MINNESOTA STATE AUDITOR MINNOWA CONSTRUCTION INC MISSISSIPPI WELDERS SUPPLY CO MN DEPT OF ADM MN DEPT OF CORRECTIONS-STS MN DEPT OF ECONOMIC SECURITY MN DEPT OF EMPLOYMENT ECONOMIC MN DEPT OF FINANCE MN DEPT OF HEALTH MN DEPT OF HUMAN SERVICES MN DEPT OF NATURAL RESOURCES MN STATE TREASURER TIF MN TRANSPORTATION ALLIANCE MONARCH PAVING COMPANY MOODYS INVESTORS SERVICE MSC-SOUTHEAST TECHNICAL NAPA - RED WING NATIONAL BUSINESS SYSTEMS INC NATIONAL TACTICAL OFFICERS ASSN NEWMAN TRAFFIC SIGNS NORTH AMERICAN SALT CO NORTHWEST TRUCKS INC OFFICE DEPOT INC OFFICE OF ENTERPRISE TECHNOLOGY OLMSTED COUNTY PACE ANALYTICAL PINE BEND PAVING INC PINE ISLAND CITY PINE ISLAND TOWNSHIP PLANSIGHT LLC POSSEHL/MILTON POWER PLAN OIB PREMIER LIGHTING INC PROACT INC PROFESSIONAL PORTABLE XRAY INC PROFESSIONAL SAFETY INC PROGRESSIVE CONTRACTORS INC PSC ALLIANCE INC QWEST QWEST INTERPRISE AMERICA INC RAPP OIL CO RAY O'HERRON CO INC RED WING ACE HARDWARE RED WING CITY-FINANCE RED WING CITY-PUBLIC WORKS RED WING CONSTRUCTION CO RED WING GLASS INC RED WING INCINERATOR RED WING MOTOR SPORTS RED WING MOTORS RED WING RIVER VIEW RIDERS-RW RED WING SERVICE CO INC RED WING TREE SERVICE 34,871.12 126,851.77 24,682.02 84,260.81 928,885.95 5,365.63 15,235.00 130,000.00 11,915.78 8,254.08 540,071.86 5,170.00 591,335.14 5,378.50 4,834,225.89 5,040.00 9,095.92 5,300.00 5,263.00 5,403.17 10,675.00 22,149.00 16,554.09
- 82,284.16 7,014.00 35,756.44 6,365.43 44,262.69 17,191.00 5,160.34 691,839.60 122,563.68 16,817.24 6,423.00 23,251.32 10,459.72 16,345.28 6,940.00 24,499.00 248,845.44 5,373.74 7,526.18 54,548.70 16,568.07 39,901.16 6,827.20 13,459,198.27 38,715.79 11,495.20 11,932.61 29,687.00 5,521.54 9,605.31 21,242.99 7,876.48 5,514.57
REGINA MEDICAL CENTER RIESTER REFRIGERATION INC
)
RIVERFRONT FORD RIVERTOWN NEWSPAPER GROUP ROBERTS BUSINESS FORMS ROBINSON TEXTILES ROCHESTER SAND & GRAVEL ROSCOE TOWNSHIP RYAN/GAIL JEAN SCHILLING SUPPLY CO SCHMIDT-GOODMAN OFFICE PRODUCT SCHOOL DISTRICT 195-RANDOLPH SCHOOL DISTRICT 2125-DODGE CENTER SCHOOL DISTRICT 2172-KENYON SCHOOL DISTRICT 252-CANNON FALLS SCHOOL DISTRICT 253-GOODHUE SCHOOL DISTRICT 255-PINE ISLAND SCHOOL DISTRICT 256-RED WING SCHOOL DISTRICT 2805-MAZEPPA SCHOOL DISTRICT 659-NORTHFIELD SCHOOL DISTRICT 813-LAKE CITY SCHRADER'S LAW ENFORCEMENT SUP SCHUMACHER ELEVATOR CO SCHUMACHER-EXCAVATING INC SEMMCHRA SEMNTF SEVERS APPRAISAL SGTS INC SHORT ELLIOT HENDRICKSON INC SIEWERT CONSTRUCTION CO INC SITECOMP INC SOIL & WATER CONSERVATION SOLBREKK SORENSON/KERRY SOUTHEASTERN LIBRARY CO-OP SPRINT (CHARLOTTE)
SRF CONSULTING GROUP INC ST JOSEPH CHURCH STANTON TOWNSHIP STATE OF MINNESOTA STATE TREASURER STEBERG/GLEN STEVEN JOHNSON & ASSOC STREICHERS PROF POLICE EQUIP SUBURBAN DISPOSAL INC SUPERIOR WATERPROOFING SYNERGY GRAPHICS TAPROOT INC TDS METROCOM THERMAL TECHNOLOGIES INC THOMAS E GORMAN LAW OFFICE THREE RIVERS COMMUNITY ACTION THRIFTY WHITE STORES TOM PARKER ELECTRIC INC TRAFFIC MARKING SERVICE INC TRAXLER CONSTRUCTION INC 76,461.00 45,334.38 6,901.13 21,304.61 5,218.78 14,697.81 9,059.54 148,260.25 7,500.00 14,748.75 8,475.09 104,867.02 11,989.47 1,129,709.24 1,373,115.53 623,440.63 527,008.66 6,814,846.87 662,521.70 61,949.45 325,884.48 9,004.42 9,085.65 483,393.13 309,525.20 5,000.00 6,900.00 29,551.79 45,908.35 11,266.00 5,361.88 260,405.00 118,596.87 7,304.00 274,773.00 36,466.71 11,670.75 10,777.50 140,504.41 64,015.91 44,450.00 57,082.00 5,162.50 6,297.16 24,106.66 6,715.00 26,856.52 8,036.76 84,945.15 76,556.77 32,628.75 20,871.99 98,700.12 5,573.77 84,650.32 14,943.20
TRI-STATE BUSINESS MACHINES INC TRIMIN SYSTEMS INC TWIN CITIES MACK AND VOLVO TRUCK TWIN RIVER RIDERS-CANNON FALLS UGLAND/RYAN UNIFORMS UNLIMITED INC UNITED STATES POSTAL SERVICE UNITED WAY GOODHUE-WABASHA-PIERCE UNIVAR USA INC UNIVERSITY OF MN-FISCAL US BANK US POSTAL SERVICE (AMS-TMS)
US POSTMASTER VASA TOWNSHIP VITERION TELEHEALTHCARE VOGEL & GORMAN PLC WACOUTA TOWNSHIP WAGGONER ENGINEERING INC WALKER/FRED' WANAMINGO CITY WANAMINGO TOWNSHIP WARSAW TOWNSHIP WASTEQUIP RAYFO WELCH TOWNSHIP WELLS CREEK RIDERS-FRONTENAC WELLS FARGO BANKS WELLS FARGO BROKERAGE SERVICES WELLS FARGO REAL ESTATE TAX SERVICE WEST GROUP WHITE ROCK BANK - CF WHITEWATER WIRELESS INC WILSON OIL AND GAS COMPANY WINONA HEATING AND VENTILATION WORKFORCE DEVELOMENT INC WSB & ASSOC INC XCEL ENERGY YAGGY COLBY ASSOC ZIEGLER INC ZUMBROTA CITY ZUMBROTA FIRE DEPARTMENT ZUMBROTA FORD-MERCURY INC ZUMBROTA TOWNSHIP 3M VENDORS LESS THAN $5,000 GRAND TOTAL 15,948.22 13,548.42 160,020.00 11,601.00 15,855.00 19,057.94 38,000.00 21,000.00 75,643.78 51,521.22 3,003,074.10 45,000.00 12,205.78 155,532.31 10,173.00 10,044.72 58,877.91 100,000.00 5,667.14 409,244.70 137,995.73 181,998.93 16,988.89 166,222.26 26,535.20 12,107.04 124,810.27 13,057.98 41,691.44 5,551.46 60,923.04 35,782.95 196,251.00 172,226.64 41,312.25 341,200.40 12,304.54 48,652.14 922,955.34 7,752.00 14,768.72 123,446.33 6,561.81 1,284,759.34 63,167,405.68
Page 1 of 1 Hill, Nicole -- NUS From:
Schlichting, Keith [Keith.Schlichting Sent:
Wednesday, March 28, 2007 4:06 PM To:
Hill, Nicole -- NUS
Subject:
City of Red Wing Tax Levy info Attachments: Info for Nicole HilI.xls
- Nicole, It took a little longer to pull the info into the attached file, but hopefully this is what you were looking for. Please feel free to contact us if we can be of any further assistance.
Keith Schlichting City of Red Wing Asst. Finance Director Phone (651) 385-3603 3/29/2007
0 t)
Payable 2001 Payable 2002 Payable 2003 Payable 2004 Payable 2005 Payable 2006 Payable 2007 City of Red Wina Levies General City Levy General Levy Special City Lew Bonded Indebtedness Special Taxing District Red Wing Port Authority Grand Total All Levies
$8,730,827 $10,898,020 $10,817,308 $11,403,238 $10,803,238 $11,398,151
$11,933,864
$167,130
$0
$601,000
$116,000
$116,000
$0
$0
$205,000
$285,000
$8,897,957 $10,898,020 $11,418,308 $11,519,238 $10,919,238 $11,603,151 $12,218,864 Current Collections
% of Current Tax Levy audited audited audited
$11,169,037 $11,350,504 $10,617,129 0.98 0.99 0.97 un-audited currently
$11,245,578 unavailable 0.97