| | | | | | | | Board Action Request
22-0376
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| | | | | | | | Item Description:
Authorize the Controller to transfer funds from Transportation Property Tax Suspense Project (HNCTY-0039996) to CPs 2155600, 2151000 and 2122000 |
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| | | | | | | | Resolution:
BE IT RESOLVED, that $74,320.31 in property tax revenue be transferred from the Transportation Property Tax Suspense Project (HNCTY-0039996) to county project (CP) 2155600, increasing property tax budget for CP 2155600 by $74,320.31 and decreasing state aid regular budget for CP 2155600 by the same amount, with no change to the total project budget; and
BE IT FURTHER RESOLVED, that $66,999.98 in property tax revenue be transferred from the Transportation Property Tax Suspense Project (HNCTY-0039996) to CP 2151000, increasing property tax budget for CP 2151000 by $66,999.98; and decreasing state aid regular budget for CP 2151000 by the same amount, with no change to the total project budget; and
BE IT FURTHER RESOLVED, that $1,386.73 in property tax revenue be transferred from the Transportation Property Tax Suspense Project (HNCTY-0039996) to CP 2122000, increasing property tax budget for CP 2122000 by $1,386.73; and decreasing state aid regular budget for CP 2122000 by the same amount, with no change to the total project budget; and
BE IT FURTHER RESOLVED, that the Controller be authorized to transfer, accept and disburse funds as directed.
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| | | | | | | | Background:
History: As part of the budget development process for transportation roads and bridges, staff estimate the amount of state and federal revenues projected to be available for each capital project. When a capital project is complete, staff follow the Hennepin County Accounting Manual close-out process, verifying that budgeted revenues align with actual expenditures.
During the close-out process, staff identified a need to replace state aid revenue with property tax for the following three transportation projects to align eligible funding revenue with the work completed:
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CP 2155600: Trunk Highway (TH) 252 improvements from Interstate 694 to TH 610
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CP 2151000: County State Aid Highway (CSAH) 15 and CSAH 19 intersection improvements
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CP 2122000: Americans with Disabilities Act Pedestrian Curb Ramps
Board approval is required to transfer property tax from the Transportation Property Tax Suspense Project (HNCTY-0039996) into these project budgets.
Current Request: Authorize the Controller to transfer property tax revenue from the Transportation Property Tax Suspense Project (HNCTY-0039996) to the following projects:
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CP 2155600: Increase property tax and decrease state aid revenue by $74,320.31; and
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CP 2151000: Increase property tax and decrease state aid revenue by $66,999.98; and
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CP 2122000: Increase property tax and decrease state aid revenue by $1,386.73.
Impacts/Outcomes: Approval of these requests will allow for project closeout for three transportation road and bridge capital projects, CP 2155600, CP 2151000, and CP 2122000, within the county’s financial system.
Table 1: Trans Prop Tax Suspense Project (HNCTY-0039996)
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Balance as of August 2022
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Current Request
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Remaining Balance
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Property Tax
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1,551,009.46
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(142,707.02)
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1,408,302.44
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County Program Aid
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18,210.27
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18,210.27
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Building and Land Sale
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239,283.28
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239,283.28
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State Transp Construction
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25.00
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25.00
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Total
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1,808,528.01
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(142,707.02)
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1,665,820.99
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Table 2: TH 252 Improvements from I-694 to TH 610 (CP 2155600)
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Revenues
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Budget to Date
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Current Request
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Total Project Budget
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Property Tax
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300,000.00
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74,320.31
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374,320.31
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County Bonds
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720,000.00
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720,000.00
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State Aid Regular
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100,000.00
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(74,320.31)
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25,679.69
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City of Brooklyn Center
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360,000.00
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360,000.00
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City of Brooklyn Park
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540,000.00
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540,000.00
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MnDOT
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3,318,390.00
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3,318,390.00
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Total Revenues
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5,338,390.00
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0.00
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5,338,390.00
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Expenditures
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Consulting
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(5,338,390.00)
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0.00
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(5,338,390.00)
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Total Expenditures
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(5,338,390.00)
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0.00
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(5,338,390.00)
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Table 3: CSAH 15 - Geometric improvements to CSAH 19 intersection (CP 2151000)
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Revenues
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Budget to Date
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Current Request
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Total Project Budget
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Property Tax
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0.00
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66,999.98
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66,999.98
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State Aid Regular
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841,987.00
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(66,999.98)
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774,987.02
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Federal
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896,013.00
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896,013.00
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City of Orono
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222,000.00
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222,000.00
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Total Revenues
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1,960,000.00
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0.00
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1,960,000.00
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Expenditures
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Consulting
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(50,000.00)
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(50,000.00)
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Right of Way
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(100,000.00)
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(100,000.00)
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Construction
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(1,610,000.00)
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(1,610,000.00)
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Contingency
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(200,000.00)
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(200,000.00)
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Total Expenditures
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(1,960,000.00)
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0.00
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(1,960,000.00)
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Table 4: 2013 ADA Pedestrian Curb Ramps Project (CP 2122000)
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Revenues
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Budget to Date
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Current Request
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Total Project Budget
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Property Tax
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0.00
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1,386.73
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1,386.73
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State Aid Regular
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254,575.00
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(1,386.73)
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253,188.27
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Federal
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665,465.00
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665,465.00
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Total Revenues
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920,040.00
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0.00
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920,040.00
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Expenditures
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Construction
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(920,040.00)
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(920,040.00)
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Total Expenditures
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(920,040.00)
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0.00
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(920,040.00)
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| | | | | | | | | Recommendation from County Administrator: Recommend Approval | |
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