9
TROY OHIO ( e('f<>D wtion uO hio's G-reat Miami River Corridor promotes a quality of life that keeps Ohio's talent in Ohio. It is the focus of private investment, a job ... generator, and tourist destination. The River Corridor is the largest mixed ... use district of its kind touting vibrant city waterfronts interconnected by land and water trails. Between the cities, the River Corridor embraces some of Ohio's most picturesque and productive farmland and exquisite natural areas. * "- ( Proposed Long-Range Layout r A R E N A TROY· OHIO , ! 1. Administration/ 1 ! 2. Merchand ising 3. Concessions *Proposed r enovations, locations, and costs are estimated concept only. l ocal communities view the (Treat Miami River as a valuable community asset, drawing riverfront investment. Diverse types of festivals and special events line its banks all year long. Tourists, recreationalists and commuters put its trails to good use. Refurbished and innovative housing options create a new neighborhood of urban pioneers. World ... class arts and entertainment venues draw diverse visitors from near and far:' ( www.ohiosgreatcorridor.com) For more information, contact Stan Kegley at {937} 339-9481

Riverfront Development Overview Info

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TROY OHIO

( e('f<>D wtion

uO hio's G-reat Miami River Corridor promotes a quality of life that keeps Ohio's talent in

Ohio. It is the focus of private investment, a job ... generator, and tourist destination. The River Corridor is the largest mixed ... use district of its kind touting vibrant city waterfronts interconnected by land and water trails. Between the cities, the River Corridor embraces some of Ohio's most picturesque and productive farmland and exquisite natural areas.

*"-(

Proposed Long-Range Layout r

A R E N A TROY· OHIO

, ! 1. Administration/ 1

! 2. Merchandising 3. Concessions •

*Proposed renovations, locations, and costs are estimated concept only.

l ocal communities view the (Treat Miami River as a valuable community asset, drawing

riverfront investment. Diverse types of festivals and special events line its banks all year long. Tourists, recreationalists and commuters put its trails to good use. Refurbished and innovative housing options create a new neighborhood of urban pioneers. World ... class arts and entertainment venues draw diverse visitors from near and far:' ( www.ohiosgreatcorridor.com)

For more information, contact Stan Kegley at {937} 339-9481

<('e(ell wlian

- Marina Building -·

-------,.

··,1· Treasure Island :. M a r i 11 a & P a r k red.evdopment

Project Component 1. Balcony 2. Tower 3. Entrance 4 . Restrooms 5. Fireplace Room

Cost $162,200 $63.400 $72,300

$113,600 $83,500

6. Snack Bar _ ____ ---- _ _ _ - ·- - • $114,800

Utilit ies Exterior Total

$135,700 $84,500

of the Treasure

Island Marina

is an

investment in

the community

and relates

- -- ------ -• Proposed renovations, and costs are estimated concept only.

directly to the

quality oflife

for residents of ! Treasure Island a M a r i n a & r a r k Troy and the

*Proposed renovations, locations, and costs are estimated concept only.

surrounding

.. » regaon.

Treasure Island Marina Feasibility

Study, Ballard*King & Assoc., Oct. 5, zoo9, p. 37.

Component

Marina Building

Treasure Island Park

Hobart Arena

Riverfront Development Estimated Annual Debt Service Scenarios Comparison of Options, Components, and Debt Service Amounts

%of Debt %of Debt

Description Option I Total Service Option II Total Service

Structure renovations $1,000,000 5.62% $64,012 $1,000,000 10.00% $64,012 .................................................................................................................................. ············································································································ ............................................................................................................ Parkland Development $1,800,000 10.11% $115,222 $1,800,000 18.00% $115,222

Subtotal Treasure Island $2,800,000 15.73% $179,233 $2,800,000 28.00% $179,233

Category I Short-term Renovations $4,600,000 25.84% $294A55 $4,600,000 46.00% $294A55 .................................................................................................................................. ............................................................................................................ ............................................................................................................ Category lA Short-term Plus Renovations $1,300,000 7.30% $83,216 $1,300,000 13.00% $83,216 .................................................................................................................................. ............................................................................................................ ............................................................................................................ Category II Long-term Renovations $3A50,000 19.38% $220,841 $0 0.00% $0

·································································································································· ..................... ....................................................................................... ............................................................................................................ Category IIA Second Ice Rink (Item #31) $4,100,000 23.03% $262A49 $0 0.00% $0 .................................................................................................................................. ............................................................................................................ ............................................................................................................ Category IIA Scoreboard (Item #34) $750,000 4.21% $48,009 $500,000 5.00% $32,006 .................................................................................................................................. ............................................................................................................ ............................................................................................................ Category Ill CIP Maintenance Items $800,000 4.49% $51,210 $800,000 8.00% $51,210

Subtotal Hobart Arena $15,000,000 84.27% $960,179 $7,200,000 72.00% $460,886

Grand Total to be Financed $17,800,000 100.00% $1,139,413 $10,000,000 100.00% $640,120 ---- -------- ------- -------

Debt Service is annual estimated amount based on a 25-year borrowing at 4% annual interest rate, prorated as a percentage of each component

%of Debt

Option Ill Total Service

$1,000,000 11.49% $64,012 . ............................................................................................................ $1,800,000 20.69% $115,222

$2,800,000 32.18% $179,233

$4,600,000 52.87% $294A55: ............................................................................................................. $1,300,000 14.94% $83,216

············································································································· $0 0.00% $0 ............................................................................................................. $0 0.00% $0 ............................................................................................................. $0 0.00% $0 ............................................................................................................. $0 0.00% $0

$5,900,000 67.82% $377,671

$8,700,000 100.00% $556,904

7/24/2014

Beginning Year Balance 1 $17,800,000 2 $17,177,655 3 $16,532,843 4 $15,864,753 5 $15,172,545 6 $14,455,349 7 $13,712,262 8 $12,942,349 9 $12,144,643 10 $11,318,139 11 $10,461,799 12 $9,574,544 13 $8,655,260 14 $7,702,790 15 $6,715,935 16 $5,693,455 17 $4,634,064 18 $3,536,428 19 $2,399,168 20 $1,220,852 21 $0 22 $0 23 $0 24 $0 J5 $0

Years of Borrowing Total Borrowed Annual Interest Annual Debt Service

Riverfront Development Estimated Annual Debt Service Scenarios Option 1: Full Funding per Consultants' Recommendations ($2.8M Treasure Island & $15M Arena)

Annual Principal $622,345 $644,812 $668,090 $692,208 $717,196 $743,087 $769,913 $797,706 $826,504 $856,340 $887,254 $919,284 $952,470 $986,855

$1,022,480 $1,059,392 $1,097,636 $1,137,260 $1,178,315 $1,220,852

$0 $0 $0 $0 $0

20 $17,800,000

3.61% $1,264,925

Annual Interest

$642,580 $620,113 $596,836 $572,718 $547,729 $521,838 $495,013 $467,219 $438,422 $408,585 $377,671 $345,641 $312,455 $278,071 $242,445 $205,534 $167,290 $127,665

$86,610 $44,073

$0 $0 $0 $0 $0

25 $17,800,000

4.00% $1,139,413

Annual Ending Debt Service Balance

$1,264,925 $17,177,655 $1,264,925 $16,532,843 $1,264,925 $15,864,753 $1,264,925 $15,172,545 $1,264,925 $14,455,349 $1,264,925 $13,712,262 $1,264,925 $12,942,349 $1,264,925 $12,144,643 $1,264,925 $11,318,139 $1,264,925 $10,461,799 $1,264,925 $9,574,544 $1,264,925 $8,655,260 $1,264,925 $7,702,790 $1,264,925 $6,715,935 $1,264,925 $5,693,455 $1,264,925 $4,634,064 $1,264,925 $3,536,428 $1,264,925 $2,399,168 $1,264,925 $1,220,852 $1,264,925 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Beginning Annual Annual Year Balance Principal Interest 1 $17,800,000 $427,413 $712,000 2 $17,372,587 $444,509 $694,903 3 $16,928,078 $462,290 $677,123 4 $16,465,788 $480,781 $658,632 5 $15,985,006 $500,013 $639,400 6 $15,484,994 $520,013 $619,400 7 $14,964,980 $540,814 $598,599 8 $14,424,167 $562,446 $576,967 9 $13,861,720 $584,944 $554,469 10 $13,276,776 $608,342 $531,071 11 $12,668,434 $632,676 $506,737 12 $12,035,759 $657,983 $481,430 13 $11,377,776 $684,302 $455,111 14 $10,693,474 $711,674 $427,739 15 $9,981,801 $740,141 $399,272 16 $9,241,660 $769,747 $369,666 17 $8,471,913 $800,536 $338,877 18 $7,671,377 $832,558 $306,855 19 $6,838,819 $865,860 $273,553 20 $5,972,959 $900,495 $238,918 21 $5,072,464 $936,514 $202,899 22 $4,135,950 $973,975 $165,438 23 $3,161,975 $1,012,934 $126,479 24 $2,149,041 $1,053,451 $85,962 25 $1,095,589 $1,095,589 $43,824

Annual Ending Debt Service Balance

$1,139,413 $17,372,587 $1,139,413 $16,928,078 $1,139,413 $16,465,788 $1,139,413 $15,985,006 $1,139,413 $15,484,994 $1,139,413 $14,964,980 $1,139,413 $14,424,167 $1,139,413 $13,861,720 $1,139,413 $13,276,776 $1,139,413 $12,668,434 $1,139,413 $12,035,759 $1,139,413 $11,377,776 $1,139,413 $10,693,474 $1,139,413 $9,981,801 $1,139,413 $9,241,660 $1,139,413 $8,471,913 $1,139,413 $7,671,377 $1,139,413 $6,838,819 $1,139,413 $5,972,959 $1,139,413 $5,072,464 $1,139,413 $4,135,950 $1,139,413 $3,161,975 $1,139,413 $2,149,041 $1,139,413 $1,095,589 $1,139,413 $0

7/24/2014

2014-2018 General Fund Forecast Option 1: Full Funding per Consultants' Recommendations ($2.8M Treasure Island & $15M Arena)

Notes 2014 2015 2016 2017 2018 Beginning FB 1 $20,632,496 $18,598,427 $15,191,924 $11,032,120 $5,601,671 Revenues 2,3 Total Resources $63,758,290 $44,177,479 $41,026,767 $36,625,311 $31,450,793

Operating Expenses 4 $22,732,850 $23,642,164 $24,587,851 $25,571,365 $26,594,219 Additional Police Staffing 5 $168,230 $324,582 $377,717 $412,720 $426,309 Additional Fire PPT Staffing 6 $206,632 $513,556 $523,827 $534,304 $544,990 Street Paving 7 $600,000 $600,000 $600,000 $600,000 $600,000 27th Payroll 8 $0 $0 $0 $0 $0 Capital Needs 9 $19,546,900 $2,000,000 $2,000,000 $2,000,000 $2,000,000 Debt Service 10 Total Expenses $45,159,863 $28,985,554 $29,994,647 $31 ,023,640 $32,070,770

-- - -- - - - - -Ending Fund Balance $18,598,427 $15,191,924 $11 ,032,120 $5,601,671 ($619,977)

Target Fund Balance 11 $13,747,990 $14,202,647 $14,675,490 $15,167,247 $15,678,675

% Fund Balance Coverage 12 135.28% 106.97% 75.17% 36.93% -3.95%

Notes: 1. 2014 Beginning Fund Balance is actual unencumbered balance of Funds 101, 202, 204, 205, 207, 332, 441, 442, 707, 712, and 713 (Fund 842 not included as 75% of interest is not FB) 2. 2014 revenue estimates based on City Auditor and include Riverfront Development bond issuance; 2015-2018 estimated at 1% annual growth 3. Starting in 2017, proposed HB5 would reduce income taxes by $500,000 to account for a 50% NOL carryforward deduction and other municipal tax adjustments 4. 2014 expenses are per Appropriation Ordinance; 2015-2018 based on 4% annual inflation for COLA, healthcare, and inflationary increases 5. Assumes 2 additional officers starting 3/1/14, 1 additional officer starting 5/1/14, and 1 additional officer starting 1/1/15. 6. Professional Part-Time (PPT) calculated at 35,040 hours/yearx$13/hour + 10.53% benefits (ss, medicare, and workers comp), prorated for 3 months in 2014 and inflated by 2% COLA thereafter 7. 2014 Street paving as recommended; 2015-2018 assumes paving at the levels recommended by City Engineer and per commitment in Permissive Tax authorization 8. An anomaly of accounting due to calendar timing of payrolls, a 27th payroll will next occur in 2020. 9. 2014 as approved in Appropriation Ordinance plus riverfront development; 2015-18 assume "ballpark" amount to replace funds lost from Fund 218 10. Debt Service equals the amount due in Fund 332 Bond Retirement Fund, including Riverfront Development (@25 year term). Actual for 2015-2018 may vary due to bond financing schedules 11. Target balance equals 125% of debt service plus 50% of annual operating budget, consistent with Utility Fund policies 12. Coverage % is gauge of how close to target annual fund balance is. 100% or greater meets or exceeds the target 712412014

Beginning Annual Year Balance Principal 1 $10,000,000 $349,632 2 $9,650,368 $362,254 3 $9,288,114 $375,331 4 $8,912,783 $388,881 5 $8,523,902 $402,919 6 $8,120,983 $417,465 7 $7,703,518 $432,535 8 $7,270,983 $448,150 9 $6,822,833 $464,328 10 $6,358,505 $481,090 11 $5,877,415 $498,457 12 $5,378,957 $516,452 13 $4,862,506 $535,096 14 $4,327,410 $554,413 15 $3,772,997 $574,427 16 $3,198,570 $595,164 17 $2,603,407 $616,649 18 $1,986,757 $638,910 19 $1,347,847 $661,975 20 $685,872 $685,872 21 $0 $0 22 $0 $0 23 $0 $0 24 $0 $0 25 $0 _jo_

Riverfront Development Estimated Annual Debt Service Scenarios Option II: Funding of $10M ($2.8M Treasure Island and $7.2M for Arena*)

Annual Annual Ending Beginning Annual Annual Interest Debt Service Balance Year Balance Principal Interest

$361,000 $710,632 $9,650,368 1 $10,000,000 $240,120 $400,000 $348,378 $710,632 $9,288,114 2 $9,759,880 $249,724 $390,395 $335,301 $710,632 $8,912,783 3 $9,510,156 $259,713 $380,406 $321,751 $710,632 $8,523,902 4 $9,250,443 $270,102 $370,018 $307,713 $710,632 $8,120,983 5 $8,980,341 $280,906 $359,214 $293,167 $710,632 $7,703,518 6 $8,699,435 $292,142 $347,977 $278,097 $710,632 $7,270,983 7 $8,407,292 $303,828 $336,292 $262,482 $710,632 $6,822,833 8 $8,103,464 $315,981 $324,139 $246,304 $710,632 $6,358,505 9 $7,787,483 $328,620 $311,499 $229,542 $710,632 $5,877,415 10 $7,458,863 $341,765 $298,355 $212,175 $710,632 $5,378,957 11 $7,117,098 $355,436 $284,684 $194,180 $710,632 $4,862,506 12 $6,761,662 $369,653 $270,466 $175,536 $710,632 $4,327,410 13 $6,392,009 $384,439 $255,680 $156,219 $710,632 $3,772,997 14 $6,007,570 $399,817 $240,303 $136,205 $710,632 $3,198,570 15 $5,607,753 $415,810 $224,310 $115,468 $710,632 $2,603,407 16 $5,191,944 $432,442 $207,678

$93,983 $710,632 $1,986,757 17 $4,759,502 $449,740 $190,380 $71,722 $710,632 $1,347,847 18 $4,309,762 $467,729 $172,390 $48,657 $710,632 $685,872 19 $3,842,033 $486,438 $153,681 $24,760 $710,632 $0 20 $3,355,595 $505,896 $134,224

$0 $0 $0 21 $2,849,699 $526,132 $113,988 $0 $0 $0 22 $2,323,567 $547,177 $92,943 $0 $0 $0 23 $1,776,390 $569,064 $71,056 $0 $0 $0 24 $1,207,326 $591,827 $48,293 $0 $0 $0 25 $615,500 $615,500 $24,620

*Arena funding would consist of $4.6 M for Category I, $1.3 M for lA, $.5 Mfor a scoreboard in Category II, and $.8 M for Category Ill.

Years of Borrowing Total Borrowed Annual Interest Annual Debt Service

20 $10,000,000

3.61% $710,632

25 $10,000,000

4.00% $640,120

Annual Ending Debt Service Balance:

$640,120 $9,759,880 I

$640,120 $9,510,156! $640,120 $9,250,4431 $640,120 $8,980,3411 $640,120 $8,699,435 $640,120 $8,407,2921 $640,120 $8,103,4641 $640,120 $7,787,483 1

$640,120 $7,458,863 $640,120 $7,117,098 $640,120 $6,761,662 $640,120 $6,392,0091 $640,120 $6,007,570 $640,120 $5,607,753 $640,120 $5,191,944 $640,120 $4,759,502 $640,120 $4,309,762 $640,120 $3,842,033 $640,120 $3,355,595 $640,120 $2,849,699 $640,120 $2,323,567 $640,120 $1,776,390 $640,120 $1,207,326 $640,120 $615,500 $640,120 $0

7/24/2014

2014-2018 General Fund Forecast Option II: Funding of $10M ($2.8M Treasure Island and $7.2M for Arena*)

Notes 2014 2015 2016 2017 2018 Beginning FB 1 $20,632,496 $19,097,720 $16,190,511 $12,530,000 $7,598,844 Revenues 2,3 $35.325.794 $25.579,052 Total Resources $55,958,290 $44,676,772 $42,025,353 $38,123,191 $33,447,967

Operating Expenses 4 $22,732,850 $23,642, 164 $24,587,851 $25,571 ,365 $26,594,219 Additional Police Staffing 5 $168,230 $324,582 $377,717 $412,720 $426,309 Additional Fire PPT Staffing 6 $206,632 $513,556 $523,827 $534,304 $544,990 Street Paving 7 $600,000 $600,000 $600,000 $600,000 $600,000 27th Payroll 8 $0 $0 $0 $0 $0 Capital Needs 9 $11 '7 46' 900 $2,000,000 $2,000,000 $2,000,000 $2,000,000 !

Debt Service 10 $1.405.959 $1.405.959 Total Expenses $36,860,570 $28,486,261 $29,495,353 $30,524,347 $31,571 ,477

- - -- - - --Ending Fund Balance $19,097,720 $16,190,51 1 $12,530,000 $7,598,844 $1,876,490

Target Fund Balance 11 $13,123,873 $13,578,530 $14,051 ,37 4 $14,543,131 $15,054,558

% Fund Balance Coverage 12 145.52% 119.24% 89.17% 52.25% 12.46%

Notes: 1. 2014 Beginning Fund Balance is actual unencumbered balance of Funds 101 , 202, 204, 205, 207, 332, 441, 442, 707, 712, and 713 (Fund 842 not included as 75% of interest is not FB) 2. 2014 revenue estimates based on City Auditor and include Riverfront Development bond issuance; 2015-2018 estimated at 1% annual growth 3. Starting in 2017, proposed HB5 would reduce income taxes by $500,000 to account for a 50% NOL carryforward deduction and other municipal tax adjustments 4. 2014 expenses are per Appropriation Ordinance; 2015-2018 based on 4% annual inflation for COLA, healthcare, and inflationary increases 5. Assumes 2 additional officers starting 3/1/14, 1 additional officer starting 5/1/14, and 1 additional officer starting 1/1/15. 6. Professional Part-Time (PPT) calculated at 35,040 hours/yearx$13/hour + 10.53% benefits (ss, medicare, and workers comp), prorated for 3 months in 2014 and inflated by 2% COLA thereafter 7. 2014 Street paving as recommended; 2015-2018 assumes paving at the levels recommended by City Engineer and per commitment in Permissive Tax authorization 8. An anomaly of accounting due to calendar timing of payrolls, a 27th payroll will next occur in 2020. 9. 2014 as approved in Appropriation Ordinance plus riverfront development; 2015-18 assume "ballpark" amount to replace funds lost from Fund 218 10. Debt Service equals the amount due in Fund 332 Bond Retirement Fund, including Riverfront Development (@25 year term). Actual for 2015-2018 may vary due to bond financing schedules 11. Target balance equals 125% of debt service plus 50% of annual operating budget, consistent with Utility Fund policies 12. Coverage % is gauge of how close to target annual fund balance is. 100% or greater meets or exceeds the target 712412014

Beginning Year Balance 1 $8,700,000 2 $8,395,820 3 $8,080,659 4 $7J54,121 5 $7A15,795 6 $7,065,255 7 $6,702,061 8 $6,325J55 9 $5,935,865 10 $5,531,899 11 $5,113,351 12 $4,679,693 13 $4,230,380 14 $3,764,847 15 $3,282,508 16 $2,782,756 17 $2,264,964 18 $1,728A79 19 $1,172,627 20 $596,709 21 $0 22 $0 23 $0 24 $0 25 $0

Years of Borrowing Total Borrowed Annual Interest Annual Debt Service

Riverfront Development Estimated Annual Debt Service Scenarios Option Ill: Funding of $8.7M {$2.8M Treasure Island and $5.9M or Categories I and lA for Arena)

Annual Principal $304,180 $315,161 $326,538 $338,326 $350,540 $363,194 $376,306 $389,890 $403,965 $418,548 $433,658 $449,313 $465,533 $482,339 $499,751 $517,792 $536A85 $555,852 $575,918 $596,709

$0 $0 $0 $0 $0

20 $8,700,000

3.61% $618,250

Annual Interest

$314,070 $303,089 $291,712 $279,924 $267J10 $255,056 $241,944 $228,360 $214,285 $199J02 $184,592 $168,937 $152,717 $135,911 $118A99 $100A57

$81,765 $62,398 $42,332 $21,541

$0 $0 $0 $0 $0

25 $8,700,000

4.00% $556,904

Annual Ending Debt Service Balance

$618,250 $8,395,820 $618,250 $8,080,659 $618,250 $7J54,121 $618,250 $7A15,795 $618,250 $7,065,255 $618,250 $6,702,061 $618,250 $6,325J55 $618,250 $5,935,865 $618,250 $5,531,899 $618,250 $5,113,351 $618,250 $4,679,693 $618,250 $4,230,380 $618,250 $3,764,847 $618,250 $3,282,508 $618,250 $2,782,756 $618,250 $2,264,964 $618,250 $1,728A79 $618,250 $1,172,627 $618,250 $596,709 $618,250 $0

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0

Beginning Annual Annual Year Balance Principal Interest 1 $8,700,000 $208,904 $348,000 2 $8A91,096 $217,260 $339,644 3 $8,273,836 $225,951 $330,953 4 $8,047,885 $234,989 $321,915 5 $7,812,896 $244,388 $312,516 6 $7,568,508 $254,164 $302,740 7 $7,314,344 $264,330 $292,574 8 $7,050,014 $274,904 $282,001 9 $6,775,111 $285,900 $271,004 10 $6,489,211 $297,336 $259,568 11 $6,191,875 $309,229 $247,675 12 $5,882,646 $321,598 $235,306 13 $5,561,048 $334,462 $222A42 14 $5,226,586 $347,841 $209,063 15 $4,878,745 $361,754 $195,150 16 $4,516,991 $376,224 $180,680 17 $4,140,766 $391,273 $165,631 18 $3,749A93 $406,924 $149,980 19 $3,342,569 $423,201 $133,703 20 $2,919,367 $440,129 $116,775 21 $2A79,238 $457,735 $99,170 22 $2,021,503 $476,044 $80,860 23 $1,545,460 $495,086 $61,818 24 $1,050,374 $514,889 $42,015 25 $535,485 $535,485 $21,419

Annual Ending Debt Service Balance

$556,904 $8,491,096 $556,904 $8,273,836 $556,904 $8,047,885 $556,904 $7,812,896 $556,904 $7,568,508 $556,904 $7,314,344 $556,904 $7,050,014 $556,904 $6J75,111 $556,904 $6A89,211 $556,904 $6,191,875 $556,904 $5,882,646 $556,904 $5,561,048 $556,904 $5,226,586 $556,904 $4,878,745 $556,904 $4,516,991 $556,904 $4,140,766 $556,904 $3,749,493 $556,904 $3,342,569 $556,904 $2,919,367 $556,904 $2,479,238 $556,904 $2,021,503 $556,904 $1,545A60 $556,904 $1,050,374 $556,904 $535,485 1

$556,904 $0 1

7/24/2014

2014-2018 General Fund Forecast Option Ill: Funding of $8. 7M ($2.8M Treasure Island and $5.9M or Categories I and /A for Arena)

Notes 2014 2015 2016 2017 2018 Beginning FB 1 $20,632,496 $19,180,935 $16,356,942 $12,779,647 $7,931,706 Revenues 2,3 Total Resources $54,658,290 $44,759,987 $42,191 '785 $38,372,838 $33,780,829

Operating Expenses 4 $22,732,850 $23,642,164 $24,587,851 $25,571,365 $26,594,219 Additional Police Staffing 5 $168,230 $324,582 $377,717 $412,720 $426,309 Additional Fire PPT Staffing 6 $206,632 $513,556 $523,827 $534,304 $544,990 Street Paving 7 $600,000 $600,000 $600,000 $600,000 $600,000 27th Payroll 8 $0 $0 $0 $0 $0 Capital Needs 9 $10,446,900 $2,000,000 $2,000,000 $2,000,000 $2,000,000 Debt Service 10 Total Expenses $35,477,355 $28,403,045 $29,412,138 $30,441 '131 $31 ,488,261

-- --- -- - - - - - -- - --Ending Fund Balance $19,180,935 $16,356,942 $12,779,647 $7,931,706 $2,292,568

Target Fund Balance 11 $13,019,854 $13,474,511 $13,947,354 $14,439,111 $14,950,538

Ofo Fund Balance Coverage 12 147.32% 121.39% 91.63% 54.93% 15.33%

Notes: 1. 2014 Beginning Fund Balance is actual unencumbered balance of Funds 101, 202, 204, 205, 207, 332, 441, 442, 707, 712, and 713 (Fund 842 not included as 75% of interest is not FB) 2. 2014 revenue estimates based on City Auditor and include Riverfront Development bond issuance; 2015-2018 estimated at 1% annual growth 3. Starting in 2017, proposed HBS would reduce income taxes by $500,000 to account for a 50% NOL carryforward deduction and other municipal tax adjustments 4. 2014 expenses are per Appropriation Ordinance; 2015-2018 based on 4% annual inflation for COLA, healthcare, and inflationary increases 5. Assumes 2 additional officers starting 3/1/14, 1 additional officer starting 5/1/14, and 1 additional officer starting 1/1/15. 6. Professional Part-Time (PPT) calculated at 35,040 hours/yearx$13/hour + 10.53% benefits (ss, medicare, and workers comp), prorated for 3 months in 2014 and inflated by 2% COLA thereafter 7. 2014 Street paving as recommended; 2015-2018 assumes paving at the levels recommended by City Engineer and per commitment in Permissive Tax authorization 8. An anomaly of accounting due to calendar timing of payrolls, a 27th payroll will next occur in 2020. 9. 2014 as approved in Appropriation Ordinance plus riverfront development; 2015-18 assume "ballpark" amount to replace funds lost from Fund 218 10. Debt Service equals the amount due in Fund 332 Bond Retirement Fund, including Riverfront Development (@25 year term). Actual for 2015-2018 may vary due to bond financing schedules 11 . Target balance equals 125% of debt service plus 50% of annual operating budget, consistent with Utility Fund policies 12. Coverage% is gauge of how close to target annual fund balance is. 100% or greater meets or exceeds the target 712412014