Percent of. Amount 797,840 Market Value

Transcription

1 Three Rivers Park District, MN 1 Three Rivers Park District, Minnesota General Obligation Bonds, Series 2015B $7,965,000, and General Obligation Capital Equipment Notes, Series 2015C, $710,000, Dated: December 16, Three Rivers Park District, Minnesota, General Obligation Revenue Bonds, Series 2015A, $6,465,000, Dated: May 13, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2014A $7,870,000, and General Obligation Capital Equipment Notes, Series 2014B, $975,000, Dated: December 16, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2013A $8,105,000, General Obligation Capital Equipment Notes, Series 2013B $425,000 and General Obligation Refunding Bonds, Series 2013C, $7,965,000, Dated 5 Three Rivers Park District, Minnesota General Obligation Bonds, Series 2012A $3,560,000, Dated: November 13, Three Rivers Park District, Minnesota General Obligation Golf Course Revenue Refunding Bonds, Series 2012C $2,720,000, Dated: November 13, Three Rivers Park District, Minnesota General Obligation Refunding Bonds, Series 2012B $20,090,000, Dated: November 13, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2011A $4,575,000, Dated: December 29, Three Rivers Park District, Minnesota General Obligation Refunding Bonds, Series 2011B $6,190,000, Dated: December 29, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2010 $4,700,000, Dated: December 9, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2009B $4,410,000, and General Obligation Capital Equipment Notes, Series 2009C, Dated: October 1, Three Rivers Park District, Minnesota General Obligation Refunding Bonds, Series 2009A $11,655,000, Dated: January 14, Three Rivers Park District, Minnesota General Obligation Bonds, Series 2008B $6,450,000, Dated: September 16, 2008 Financial Summary Economic Market Value (2014/2015) $105,877,511,017 Estimated Market Value (2014/2015) $98,147,180,800 Net Tax Capacity (2014/2015) $1,079,365,752 General Obligation Long-Term Debt $72,145,000 Revenue Debt $0 Overlapping General Obligation Debt $3,080,618,303 Population (2013 US Census) 797,840 Debt Ratios Percent of Per Capita Economic Amount 797,840 Market Value General Obligation Debt $72,145,000 $ % Overlapping Debt $3,080,618,303 $3, % Total $3,152,763,303 $3, % Park Use Visitors 2015 Not available ,097,000 Full-Time Equivalent Employment Labor Force Statistics FTE Year 2015 (1) Metro Area Hennepin County State of Minnesota Average Average Average Average Unemployment Average Unemployment Average Unemployment Labor Force Rate Labor Force Rate Labor Force Rate 1,925, % 675, % 2,988, % (1) As of September, Income Statistics Less than $10,000 30, % $10,000 to $14,999 20, % $15,000 to $24,999 40, % $25,000 to $34,999 39, % $35,000 to 49,999 59, % $50,000 to $74,999 83, % $75,000 to $99,999 63, % $100,000 to $149,999 76, % $150,000 to $199,999 35, % $200,000 or more 42, % Total Households $493, % Median Household Income $64,433 Per Capita Income $38,566 Hennepin County Historical Summary of Debt Less Cash in Property Market Net G.O Debt Debt Service Value (1) to Property Net G.O. Debt G.O. Total Debt Fund Net (000's Omitted) Population (2) Market Value Per Capita 2015 $63,510,000 $13,586,604 $49,923,396 $105,877, , % $ 90 (1) Property market value is for the assessment year indicated. The property market value is Hennepin County excluding the City of Minneapolis. Applicable taxes are collectible in the subsequent year. (2) Data relates to Hennepin County excluding the City of Minneapolis.

2 Indebtedness by Issue General Obligation Debt Date of Outstanding Outstanding Issue Issue Final Maturity Interest Rate Original Amount 12/31/ G.O. Bonds 2/1/ % % $6,450,000 $1,010, G.O. Refunding Bonds 2/1/ % % $11,655,000 $3,215, G.O. Bonds 2/1/ % % $4,410,000 $1,315, G.O. Bonds 2/1/ % % $4,700,000 $990, G.O. Bonds 2/1/ % % $4,575,000 $1,895, G.O. Refunding Bonds 2/1/ % % $6,190,000 $3,150, G.O. Bonds 2/1/ % $3,560,000 $2,200, G.O. Refunding Bonds 2/1/ % % $20,090,000 $16,060, G.O. Bonds 2/1/ % % $8,105,000 $7,905, G.O. Capital Notes 2/1/ % $425,000 $285, G.O. Refunding Bonds 2/1/ % % $7,965,000 $7,965, G.O. Bonds 2/1/ % % $7,870,000 $7,870, G.O. Capital Notes 2/1/ % $975,000 $975, G.O. Bonds 2/1/ % % $7,965,000 $7,965, G.O. Capital Notes 2/1/ % $710,000 $710,000 Total General Obligation Debt $95,645,000 $63,510,000 Lease Obligation Total Lease Obligation Debt Business Type-Activities 2012 G.O. Refunding Bonds 1/1/ % $2,720,000 $2,170, G.O. Revenue Bonds 1/1/ % % $6,465,000 $6,465,000 Total Business-Type Activities $9,185,000 $8,635,000 Total Indebtedness $104,830,000 $72,145,000

3 Annual Debt Service Payments Fiscal Year Ended December 31 Total General Capital Leases Revenue Debt Fiscal Year Outstanding Obligation Principal & Principal & Ending Principal Interest Debt Service Interest Interest 2016 $10,675,000 $1,881,634 $12,556,634 $469, $9,595,000 $1,678,594 $11,273,594 $697, $6,480,000 $1,430,450 $7,910,450 $701, $5,595,000 $1,219,350 $6,814,350 $709, $5,565,000 $1,008,800 $6,573,800 $707, $5,105,000 $804,175 $5,909,175 $715, $4,245,000 $624,388 $4,869,388 $717, $2,650,000 $492,450 $3,142,450 $372, $1,530,000 $419,706 $1,949,706 $376, $1,575,000 $374,113 $1,949,113 $374, $1,620,000 $328,938 $1,948,938 $373, $1,660,000 $280,388 $1,940,388 $376, $1,720,000 $224,975 $1,944,975 $373, $1,775,000 $166,225 $1,941,225 $371, $1,835,000 $104,825 $1,939,825 $373, $1,255,000 $50,194 $1,305,194 $375, $630,000 $13,388 $643,388 $372, $373, $370, $370, $371, $371, $370, $369, $373,309 $371,159 Total $63,510,000 $11,102,591 $74,612,591 $11,798,156 Direct and Overlapping G.O. Debt Applicable to the G.O. Debt (As of Park District 12/31/2015) Percent Amount Direct Debt: Three Rivers Park District $67,531, % $67,531,138 Total Direct Debt $67,531,138 Overlapping Debt: Hennepin County $1,037,450, % $751,943,760 Metropolitan Council 1,485,891, % 506,243,285 Underlying Debt: School Districts $1,738,552, % $1,260,102,809 Municipalities 1,601,885, % 1,158,643,879 Total Overlapping and Underlying Debt $3,676,933,733 Total Direct, Overlapping and Underlying Debt $3,744,464,871 Debt Limit Computation Taxable Market Value $98,147,180,800 Debt Limit (100%) $98,147,181 Current G.O. Debt (73.51%) $72,145,000 (Includes the Obligations) Remaining Debt Margin (26.49%) $26,002,181 Statement of Revenues and Expenditures for the General Fund and the Scott-Three Rivers Special Revenue Fund 2015 Revenues: Property Taxes $27,448,853 Intergovernmental $2,688,082 Charges for Park Use $5,101,029 Other Charges for Services $2,225,878 Investment Earnings $138,502 Fines and Forfeitures $42,324 Contributions and Other $219,721 Total Revenues $37,864,389 Expenditures: Current: Park and Trail Operations $12,974,776 Recreation, Education and Natural Resources $14,150,629 Planning, Design and Technology $3,688,428 General Government $6,139,860 Debt Service $0 Capital Outlay $279,005 Total Expenditures $37,232,698 Excess (Deficiency) of Revenue over Expenditures: $631,691 Other Financing Sources (Uses): Operating Transfers In $32,478 Operating Transfers Out ($23,700) Sale of Capital Assets $152,849 Total Other Financing Sources (Uses): $161,627 Excess (Deficiency of Revenues and Other Sources Over Expenditures and Other Uses: $793,318 Beginning Fund Balance: $18,200,560 Ending Balance: $18,993,878 Operating Budget for the General Fund and the Scott-Three Rivers Special Revenue Fund

4 2016 Budget Over (Under) Operating Budget Operating Budget 2015 Budget Revenues: Property Taxes $27,643,040 $27,236,386 $406,654 Park Use 7,850,093 7,039,786 $810,307 Intergovernmental 2,624,095 2,528,121 $95,974 Transfers 110, ,606 $0 Other 258, ,862 ($10,000) Total Revenues $38,486,696 $37,183,761 $1,302,935 Expenditures: Current: Park and Trail Operations $13,260,425 $12,977,763 $282,662 Recreation, Education and Natural Resources 14,779,490 14,188,941 $590,549 Planning, Design and Technology 3,545,047 3,494,068 $50,979 General Government 6,540,169 6,226,144 $314,025 Capital Outlay 250, ,605 $49,995 Transfers 71,405 71,240 $165 Contingency 39,560 25,000 $14,560 Total Expenditures $38,486,696 $37,183,761 $1,302,935 $0 Budgeted Expenditures in Excess of Revenues $0 $0

5 Trend of Property Values Assessment Taxable Year Tax Capacity Market Value 2015 $1,079,365 $94,514,474 Series 2015B,C, 2015A, 2014A,B, 2013ABC, 2012ABC, 2011A, 2011B, 2009B,C, 2009A, 2008B Property Values Indicated Taxable Net Tax Market Value Market Value Capacity Real Estate $97,016,691,700 $93,383,985,074 $1,149,609,961 Personal Property 1,130,489,100 1,130,489,100 22,258,710 Less: Tax Increment and Fiscal Disparities Value (70,244,209) Total 98,147,180,800 $94,514,474,174 $1,101,624,462 Series 2015B,C, 2015A, 2014A,B, 2013ABC, 2012ABC, 2011A, 2011B, 2010 Real Property by Category Tax Capacity % of Total Residential $689,052, % Agricultural 5,529, % Public Utility 2,858, % Railroad Operating Property 1,776, % All other Commercial & Industrial 368,598, % Non-Homestead Residential/ Multiple Dwelling 70,569, % Commercial & Seasonal Recreational 10,055, % Other 1,168, % Total Real Property: $1,149,609, % Tax Levies and Collections Collected First Year Collected as of Collection Percentage Percentage Year Levy Net Tax Levy Amount of Net Levy Amount of Net Levy 2015 $41,221,717 $41,208,160 $40,923, % $40,923, % Property Tax Rates Direct and Overlapping Government Metropolitan Collection Transit Metropolitan Mosquito Year Park District Hennepin County Commission Council Control District % % 1.523% 0.976% 0.507% Principal Taxpayers 15 Largest Taxpaying Parcels in the District Name Tax Capacity % of Total 1 MOAC Mall Holding LCC $12,984, % 2 Best Buy Co., Inc. 2,783, % 3 Ridgedale Joint Venture 2,397, % 4 Galleria Shopping Center 1,923, % 5 GAPREF Eden Prairie LLC 1,859, % 6 Southdale Center LLC 1,817, % 7 United Healthcare 1,695, % 8 Target Corporation United 1,646, % 9 Normandale Holdings LLC 1,539, % 10 ARC Wemps LLC 1,398, % 11 G&I VII 1600 & Moneygram LLC 1,379, % 12 General Mills, Inc. 1,359, % 13 Normandale Holdings LLC 1,340, % 14 Prisa Arbor Lakes LLC 1,290, % 15 Allianz Life Insurance Co., America 1,281, % Total $36,694, %