City of Waupaca 2018 Joint Review Board Annual Review of Tax - PowerPoint PPT Presentation

City of Waupaca 2018 Joint Review Board Annual Review of Tax Incremental Financing Districts Kathy Kasza Finance Director/Treasurer

2017 TAX INCREMENTAL FINANCING (TIF) DISTRICT REVIEW • MAP OF CITY TIF DISTRICTS • TIF #7 – WARE STREET • SUMMARY OF HISTORICAL FINANCIAL o MAP OF DISTRICT INFORMATION o HIGHLIGHTS FOR 2017 • 2018 BUDGET PROJECTION OF ALL TIF FUNDS o BUDGET PROJECTION • TIF #8 – EAST GATEWAY • OUTSTANDING DEBT CHART • TIF #3 – BUSINESS PARK o MAP OF DISTRICT o HIGHLIGHTS FOR 2017 o MAP OF DISTRICT o BUDGET PROJECTION o HIGHLIGHTS FOR 2017 • TIF #9 – ROYALTON STREET o BUDGET PROJECTION • TIF #4 – WESTERN AVENUE o MAP OF DISTRICT o HIGHLIGHTS FOR 2017 o MAP OF DISTRICT o BUDGET PROJECTION o HIGHLIGHTS FOR 2017 • TIF #10 – BADGER STREET o BUDGET PROJECTION • TIF #5 – AIRPORT o MAP OF DISTRICT o HIGHLIGHTS FOR 2017 o MAP OF DISTRICT o BUDGET PROJECTION o HIGHLIGHTS FOR 2017 • FUTURE CONSIDERATION o BUDGET PROJECTION • TIF #6 – W FULTON AVE (FOXFIRE) o EARLY TERMINATION TIF #5 o PREPAYMENT TIF #3 & #10 DEBT IN o MAP OF DISTRICT 2020 o HIGHLIGHTS FOR 2017 o CONTINUE REVIEW OF FINANCIAL o BUDGET PROJECTION POSITION OF TIF DISTRICTS

City of Waupaca, Wisconsin Historical Sources, Uses and Status of Funds - Tax Incremental Financing Districts From Dates of Creation Through December 31, 2017 TIF #3 TIF #4 TIF #5 TIF #6 TIF #7 TIF #8 TIF #9 TIF #10 Totals SOURCES OF FUNDS Taxes $ 3,485,188 $ 8,444,396 $ 281,396 $ 7,275,796 $ 517,885 $ 768,750 $ 57,655 $ 859,352 $ 21,690,418 Intergovernmental 232,402 61,608 42,964 29,228 16,631 528,875 237,445 155 1,149,308 Other revenue 970,461 1,084,021 106,818 981,464 58,447 363,788 5,600 322,140 3,892,739 Sale of capital assets 414,434 536,835 951,269 Proceeds of long-term debt 7,883,644 8,235,985 1,187,975 9,915,000 690,000 20,705,000 1,919,915 50,537,519 Transfers 1,902,971 729,203 640,639 74,388 2,876,939 12,776 186,063 6,422,979 Total sources 14,889,100 17,826,010 2,348,356 18,842,127 1,357,351 25,780,187 313,476 3,287,625 84,644,232 USES OF FUNDS Capital expenditures 5,609,491 9,196,686 1,326,561 7,700,691 821,011 27,521,980 32,292 955,333 53,164,045 Debt service: Principal retirement 3,605,000 4,692,869 652,135 8,329,793 192,880 1,759,870 635,130 19,867,677 Interest and fiscal charges 1,362,192 2,209,312 369,660 1,344,091 90,565 1,925,001 277,507 7,578,328 Transfers 4,312,417 532,644 1,467,552 196,100 2,177,330 69,413 1,352,687 10,108,143 Total uses 14,889,100 16,631,511 2,348,356 18,842,127 1,300,556 33,384,181 101,705 3,220,657 90,718,193 Fund balance at December 31 $ $ 1,194,499 $ $ $ 56,795 $ (7,603,994) $ 211,771 $ 66,968 $ (6,073,961) Cash $ (76,023) $ (1,194,126) $ $ $ (56,795) $ $ (211,771) $ (66,968) $ (1,605,683) Taxes receivable (127,743) (127,743) Other receivable (373) (373) Developer payables 1,023 1,023 Debt outstanding 2,073,644 690,985 232,975 55,000 2,825,000 380,000 6,257,604 Advance due from other funds 127,743 1,001,106 1,128,849 Due to other funds 75,000 6,602,888 6,677,888 Balance to be collected (surplus) at December 31 $ 2,073,644 $ (503,514) $ 232,975 $ 55,000 $ (56,795) $ 10,428,994 $ (211,771) $ 313,032 $ 12,331,565 Page 58

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 - #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Amended Request Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 REVENUES TAXES 1,794,360 1,799,826 1,906,010 1,825,326 2,057,547 1,961,648 1,943,704 1,948,358 INTERGOVERNMENTAL 16,274 20,406 16,372 11,869 11,027 9,365 11,012 11,012 MISCELLANEOUS 310,295 282,525 718,269 87,506 - - - - OTHER FINANCING SOURCES (TRANSFERS IN) 699,248 524,453 1,475,026 315,588 1,029,325 402,350 521,012 808,749 TOTAL REVENUES 2,820,178 2,627,210 4,115,676 2,240,289 3,097,899 2,373,363 2,475,728 2,768,119 EXPENDITURES CONSERVATION & DEVELOPMENT 7,253 235,035 88,977 26,000 51,295 54,763 59,763 42,350 CAPITAL OUTLAY 165,545 101,944 25,597 19,964 270,340 69,028 69,028 69,028 DEBT SERVICE 2,193,903 2,102,688 3,896,757 1,203,694 1,152,164 988,348 1,351,166 1,285,342 OTHER FINANCING USES (TRANSFERS OUT) 396,973 252,546 304,598 394,996 1,107,552 472,299 590,461 878,198 TOTAL EXPENDITURES 2,763,674 2,692,212 4,315,930 1,644,654 2,581,351 1,584,438 2,070,418 2,274,918 EXCESS REVENUES OVER (UNDER) EXPENDITURES 56,504 (65,002) (200,254) 595,635 516,548 788,925 405,310 493,201 BEGINNING FUND BALANCE (39,643) 16,861 (48,141) (248,395) 347,240 863,788 1,652,713 2,058,023 ENDING FUND BALANCE* 16,861 (48,141) (248,395) 347,240 863,788 1,652,713 2,058,023 2,551,224 *DOES NOT INCLUDE AMOUNT DUE TO WATER/SEWER UTILITY 5/31/2018 TIF #3-#10 SUMMARY

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 - #10 FUNDS Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection Projection 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 1,866,116 881,931 887,017 892,255 897,650 903,207 908,931 914,826 920,899 927,153 933,595 9,321 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 7,621 - - - - - - - - - - - 115,271 110,909 - 191,186 231,135 226,763 221,239 214,529 206,596 - - 1,990,708 1,000,461 894,638 1,091,062 1,136,406 1,137,591 1,137,791 1,136,976 1,135,116 934,774 941,216 31,250 16,250 16,250 14,723 7,500 7,500 7,500 7,500 7,500 5,000 5,000 227,788 - - - - - - - - - - 350,194 349,226 126,174 414,979 417,119 418,304 418,504 417,689 415,829 - - 160,530 119,159 8,250 199,436 239,385 235,013 229,489 222,779 214,846 8,250 4,125 769,762 484,635 150,674 629,138 664,004 660,817 655,493 647,968 638,175 13,250 9,125 1,220,946 515,826 743,964 461,924 472,402 476,774 482,298 489,008 496,941 921,524 932,091 2,551,224 3,772,170 4,287,996 5,031,960 5,493,884 5,966,286 6,443,060 6,925,358 7,414,366 7,911,307 8,832,831 3,772,170 4,287,996 5,031,960 5,493,884 5,966,286 6,443,060 6,925,358 7,414,366 7,911,307 8,832,831 9,764,922 5/31/2018 TIF #3-#10 SUMMARY

OUTSTANDING TIF DEBT 6,000,000.00 5,000,000.00 4,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 ‐ 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 TIF #3 TIF #4 TIF #8 TIF #10

TID #3 #3 – BUSINESS PARK

TID #3 HIGHLIGHTS DEVELOPER GRANTS 2017 ANNUAL REPORT ITEMS: • PRESTO INDUSTRIES • FUNDING FROM TID #6 AND • 2017 – 2022 VALUATION $1.5 M CITY TAX LEVY FOR DEBT SERVICE • CAROUSEL GYMNASTICS • REFINANCED 2003 2007 GO • 2017 -2022 VALUATION $650K REFUNDING BONDS

2018 BUDGET PROJECTION WORKSHEET TIF DISTRICTS #3 ‐ #10 FUNDS Actual Actual Actual Actual Budget Budget Budget Budget Budget Prior Year Prior Year Prior Year Prior Year Request Projection Projection Projection Account Description 2014 2015 2016 2017 2018 2019 2020 2021 2022 TAXES 318,297 323,969 344,792 315,872 322,688 322,688 322,688 322,688 322,688 INTERGOVERNMENTAL 1,525 1,365 791 797 700 700 700 700 700 MISCELLANEOUS 11,563 37,936 52,843 ‐ ‐ ‐ ‐ ‐ ‐ OTHER FINANCING SOURCES 231,664 226,657 1,092,015 56,315 317,287 271,409 273,999 684,334 ‐ TOTAL REVENUES 563,048 589,927 1,490,441 372,984 640,675 594,797 597,387 1,007,722 323,388 CONSERVATION & DEVELOPMENT 1,149 13,539 29,844 5,586 15,000 15,000 15,000 15,000 15,000 CAPITAL OUTLAY 103,524 101,785 19,616 19,189 103,233 69,028 69,028 69,028 227,788 DEBT SERVICE 430,748 439,058 1,401,643 311,200 485,433 473,760 476,350 886,685 ‐ OTHER FINANCING USES 27,627 35,545 37,009 37,009 37,009 37,009 37,009 37,009 37,009 TOTAL EXPENDITURES 563,048 589,927 1,488,112 372,984 640,675 594,797 597,387 1,007,722 279,797 EXCESS REVENUES OVER (UNDER) EXPENDITURES ‐ (0) 2,329 ‐ (0) 0 0 0 43,591 BEGINNING FUND BALANCE (2,329) (2,329) (2,329) ‐ ‐ ‐ 0 0 0 ENDING FUND BALANCE (2,329) (2,329) (0) ‐ (0) 0 0 0 43,591 TIF #3 BUSINESS PARK 1,600,000 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 ‐ 2014 2015 2016 2017 2018 2019 2020 2021 2022 REVENUES EXPENDITURES 5/31/2018 TIF #3

TI TID #4 #4 – WESTERN A AVENUE UE

TID #4 HIGHLIGHTS DEVELOPER GRANTS 2017 ANNUAL REPORT ITEMS: • LITTLE WOLF AUTOMOTIVE • FUNDING TO TID #8 • 2017 – 2022 VALUATION $650K • REFINANCED 2008 REFUNDING BONDS