11.3 SR 09-03-2024The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community
engagement that encourages and inspires prosperity
Request for Action
To
City Council
Item Number
11.3
Meeting Date
September 3, 2024
Prepared By
Joe Stremcha, Business Services Director/Assistant
City Administrator
Item Description
2025 Budget
Reviewed by
Cal Portner
Tina Allard
Action Requested
Discuss the 2025 budget and provide staff direction.
Background/Discussion
As of the August 12 budget work session, the 2025 General Fund Budget was $22,522,200. This is a 4.4%
increase over the 2024 budget.
Preliminary Net Tax Capacity (NTC) values should be available next week from Sherburne County. On
September 16, the Council will adopt the maximum Preliminary Tax Levy for taxes payable in 2025. The Final
Tax Levy will be adopted in December and can be the same or lower but cannot be greater than the
Preliminary Tax Levy.
The full-time firefighter position and youth enrichment coordinator positions presented during the prior
Work Sessions were not included in the 2025 budget. A third position of shelter liaison has also been
developed for consideration and is included in the packet.
Discussion Items to Consider:
▪ Personnel requests – funding of personnel requests not included in the preliminary General Fund
Budget.
▪ Council direction regarding the General Fund Budget and Preliminary Tax Levy.
▪ Adding the debt service payments for the Public Works facility on the levy.
Financial Impact
The 2025 budget has a direct impact on residential property taxes and user fees.
Mission/Policy/Goal
Responsible for every dollar - good stewards.
Page 187 of 197
Attachments
1. 2025 Position Requests
2. 2025 General Fund Summary
3. 2025 General Fund Expenditures
4. 2025 General Fund Revenues
5. Debt Service 2020B - PW
Page 188 of 197
2025 BUDGET
PERSONNEL REQUESTS
Department:
GENERAL
Recreation Recreation Fire FUND
Youth
Position:Enrichment Coord Shelter Liaison Fire Engineer TOTAL
4101 Regular Pay 77,100 77,100
4102 Overtime Pay -
4103 Part-Time Pay 28,100 6,350 34,450
4104 PERA 2,100 5,800 7,900
4105 FICA 1,750 400 4,800 6,950
4107 Medicare 400 100 1,100 1,600
4108 Insurance -17,850 17,850
4109 Workers Comp 100 50 400 550
Total Personal Services 32,450 6,900 107,050 -146,400
Additional Costs:
-
4217 Uniform Allowance 650 650
4219 Supplies -
4331 Training/License -
4361 Auto insurance -
4560 Equipment - vehicle -
-
-
Total Additional Costs -650 -650
Total Position Requests 32,450 6,900 107,700 -147,050
Page 189 of 197
Staff Request Form
2025 Budget Year
Position:Youth Enrichment Coordinator Department:Recreation
Number of Positions:1
If positions aren't exactly the same (# of hours, duties, etc.), please use a separate form for each position.
Position Classification: Part-Time Non-Exempt
Benefit earning?no *please make a selection in the highlighted boxes
Length of Hire to # hours/week 20
(for Seasonal/Temp only)
Estimated Hire Date: Monday, January 6 Pay Range: $25 to $27
Min.Max.
Reason additional staffing is needed/requested:
This position will fulfill recreation programing needs within the FT Center as the facility shifts towards a hospitality focus and away from a
recreation programing facility management perspective. Most recreation programs occur during year-round at the FT Center and can function
similarly to the senior activity center. There is an opportunity to utilize the FT Center in the summer when parks are unavailable due to
weather. This position can enhance the community focus within the community event center as it will enhance our youth programming
opportunities.
What benefit will the city receive as a result of these changes? (Do additional hours need covering?
Is the position needed to support a new program/grant?)
The focus of this position would be youth enrichment. They would fulfill this objective by coordinating programming in these areas of
opportunity: Pre-School Classes, Non-School Day/Early Out Activities, Safety Camp, Learn to Skate, Open Skate/Turf, 5-8 Grade afterschool
programming at FT Center, Homework help/Study Hall, Crafts/Activities/Games, FT Center Flex Room could be used as a teen center,
movies in the Fieldhouse.
List other costs associated with adding this position:
32,000
TOTAL $32,000
Other comments:
There is the potential to collaborate with Thumbs Up and the Boys and Girls Club to enhance programing as students currently use the FT
Center after school in an unstructured environment creating vandalism and disruptive behaviors.
Requested by:Joe Stremcha Date: 6/3/2024
City Administrator _________________________________Approve ____ Deny ______ Date: ___________
Page 190 of 197
Staff Request Form
2024 Budget Year
Position:Shelter Liaison Department:Recreation
Number of Positions:4-Feb
If positions aren't exactly the same (# of hours, duties, etc.), please use a separate form for each position.
Position Classification: Part-Time Non-Exempt
Benefit earning?no *please make a selection in the highlighted boxes
Length of Hire 5/1/2025 to 9/30/2025 # hours/week 18
(for Seasonal/Temp only)
Estimated Hire Date: 4/21/2025 Pay Range: $14 to $16
Min.Max.
Reason additional staffing is needed/requested:
Park shelters rental utilization has grown exponentially after the Together Elk River projects were completed. User group sizes and frequency
has grown to the point where cleaning between multiple rentals on the same day is necessary to ensure the shelter is ready for the next user.
Peak rental times are 12:00 PM to 6:00PM on Friday, Saturday, and Sunday from May through September.
What benefit will the city receive as a result of these changes? (Do additional hours need covering?
Is the position needed to support a new program/grant?)
The city will benefit from sustained revenue growth by providing consistent quality guest service both during and between peak hours of
shelter rentals.
List other costs associated with adding this position:
$6,336 Shelter Liaison staffed at $16/hr for 18 hrs over 22 weeks.
TOTAL $6,336
Other comments:
Requested by:Joe Stremcha Date: 8/29/2024
City Administrator _________________________________Approve ____ Deny ______ Date: ___________
Page 191 of 197
Staff Request Form
2025 Budget Year
Position:Fire Engineer Department:Fire Department
Number of Positions:
If positions aren't exactly the same (# of hours, duties, etc.), please use a separate form for each position.
Position Classification: Full-Time Non-Exempt
Benefit earning?yes *please make a selection in the highlighted boxes
Length of Hire to # hours/week 40
(for Seasonal/Temp only)
Estimated Hire Date: Jan-25 Pay Range: $74,156 to $87,243 (2N - 2024 pay rates)
Min.Max.
Reason additional staffing is needed/requested:
This position would help assist the Fire Marshal, Community Risk Reduction specialist, and Rental Inspector position. Two years ago we
combined two positions and have been able to keep up with all the responsibilities, but with the growth of businessess and rentals, we are
struggling to meet expectations. This postion would also be a full-time firefighter position which would help with day-time response.
What benefit will the city receive as a result of these changes? (Do additional hours need covering?
Is the position needed to support a new program/grant?)
The Rental division has been successful in keeping our residents residing in rental properties safe, this position would be able to keep up
with the growing pace of our infrastructure while helping the Fire Marshal continue to help our business community grow unhindered.
Additionally, this postion would help our fire department's day time response which has decreased over the years.
List other costs associated with adding this position:
Uniform 650
TOTAL $650
Other comments:
Requested by:Fire Chief Mark Dickinson Date: 5/29/2024
City Administrator _________________________________Approve ____ Deny ______ Date: ___________
Page 192 of 197
2021 2022 2023 2024 7/31/2024 2025 % of Increase/%
ACTUAL ACTUAL ACTUAL BUDGET ACTUAL PRELIMINARY Budget (Decrease)Change
General Fund Revenues:
Property taxes 12,297,572 13,017,377 13,785,282 14,917,700 7,671,673 $16,169,050 71.8%$1,251,350 8.4%
Other taxes 233,745 173,039 156,365 225,000 13,156 225,000 1.0%$0 0.0%
Licenses & Permits 1,015,529 939,133 976,260 1,008,200 422,189 974,200 4.3%($34,000)-3.4%
Intergovernmental Revenues 581,927 657,106 706,917 659,000 46,943 704,000 3.1%$45,000 6.8%
Charges for Services 1,035,953 1,129,410 1,210,808 1,148,200 958,106 1,236,950 5.5%$88,750 7.7%
Fines 127,266 127,954 169,910 150,000 82,640 155,000 0.7%$5,000 3.3%
Other Revenues 297,915 335,594 445,610 330,000 111,826 361,000 1.6%$31,000 9.4%
Other Financing Source - Lease - 225,719 - - - - 0.0%$0 0.0%
Transfers In 2,281,960 2,599,306 3,202,249 3,132,500 2,172,786 2,697,000 12.0%($435,500)-13.9%
Total General Fund Revenues 17,871,867 19,204,638 20,653,401 21,570,600 11,479,318 22,522,200 100.0%$951,600 4.4%
General Fund Expenditures
General Government:
Mayor & Council 161,522 180,733 196,879 213,550 105,526 233,000 1.0%19,450 9.1%
Communications 334,651 368,036 436,535 485,300 244,603 515,550 2.3%30,250 6.2%
Administrative Services 597,464 609,868 691,952 721,850 398,081 756,000 3.4%34,150 4.7%
Human Resources 344,469 367,643 398,243 426,550 226,901 456,350 2.0%29,800 7.0%
Elections 6,300 41,864 6,280 75,500 25,633 6,800 0.0%(68,700) -91.0%
Finance 620,548 696,918 733,973 800,750 482,860 866,000 3.8%65,250 8.1%
Information Technology 454,648 652,096 617,017 731,500 329,549 769,000 3.4%37,500 5.1%
Legal 244,402 270,650 288,808 275,000 179,709 300,000 1.3%25,000 9.1%
Community Dev/Planning 578,245 479,845 460,952 485,100 279,477 506,500 2.2%21,400 4.4%
Facilities Maintenance 812,257 925,910 1,054,680 1,085,250 575,132 1,170,400 5.2%85,150 7.8%
Energy City 23,922 24,475 56,284 49,050 15,224 62,700 0.3%13,650 27.8%
Total General Government 4,178,428 4,618,038 4,941,603 5,349,400 2,862,697 5,642,300 25.1%292,900 5.5%
Public Safety:
Police 6,338,212 6,909,469 7,190,412 7,578,400 3,962,073 8,108,750 36.0%530,350 7.0%
Fire 1,514,752 1,733,540 1,979,598 1,998,000 875,927 2,104,700 9.3%106,700 5.3%
Building Safety 489,072 610,684 572,772 625,500 330,848 665,450 3.0%39,950 6.4%
Code Enforcement 86,316 76,049 116,261 126,000 66,371 132,950 0.6%6,950 5.5%
Environmental 57,578 111,919 128,842 101,700 67,054 107,100 0.5%5,400 5.3%
Total Public Safety 8,485,930 9,441,661 9,987,885 10,429,600 5,302,272 11,118,950 49.4%689,350 6.6%
Public Works:
Street Maintenance 1,472,080 1,391,531 1,532,241 1,742,150 860,497 1,777,300 7.9%35,150 2.0%
Snow Removal 336,707 366,282 338,473 411,150 205,118 376,600 1.7%(34,550) -8.4%
Equipment Services 253,000 353,287 363,728 397,300 218,449 427,450 1.9%30,150 7.6%
Engineering 396,165 426,794 464,372 489,150 244,996 365,550 1.6%(123,600) -25.3%
Total Public Works 2,457,952 2,537,894 2,698,814 3,039,750 1,529,060 2,946,900 13.1%(92,850) -3.1%
Culture & Recreation:
Park Maintenance 1,310,852 1,572,359 1,558,303 1,743,700 851,463 1,824,950 8.1%81,250 4.7%
Recreation 648,970 761,741 773,426 812,150 425,593 773,000 3.4%(39,150) -4.8%
Sr. Citizen Programs 119,465 136,016 178,074 196,000 109,909 216,100 1.0%20,100 10.3%
Total Culture & Recreation 2,079,287 2,470,116 2,509,803 2,751,850 1,386,965 2,814,050 12.5%62,200 2.3%
Transfers Out 171,591 - - - - 0.0%- 0.00%
Total General Fund Expenditures $17,373,188 $19,067,709 $20,138,105 $21,570,600 $11,080,995 $22,522,200 100.0%$951,600 4.4%
^
CITY OF ELK RIVER
GENERAL FUND
2025 PRELIMINARY BUDGET
Page 193 of 197
2021 2022 2023 2024 2025 INCREASE/%
EXPENDITURES:ACTUAL ACTUAL ACTUAL BUDGET PRELIMINARY (DECREASE)CHANGE
Personal Services
Full Time Salaries $9,130,334 $9,818,161 $10,315,488 $11,156,600 $11,633,500 $476,900 4.3%
Overtime 276,223 288,869 282,114 263,500 283,800 $20,300 7.7%
Part Time Salaries 657,853 587,143 587,971 723,650 706,150 ($17,500)-2.4%
PERA 1,123,073 1,165,831 1,246,038 1,336,550 1,398,100 61,550 4.6%
FICA 366,023 393,388 402,197 461,250 461,300 $50 0.0%
Other Retirement Contributions 248,909 285,658 309,775 260,000 305,000 $45,000 17.3%
Medicare 142,267 150,083 158,966 174,850 182,900 $8,050 4.6%
Insurance 1,197,940 1,360,230 1,491,007 1,639,750 1,737,950 $98,200 6.0%
Workers Compensation 267,271 350,141 439,336 432,050 534,250 $102,200 23.7%
Unemployment Benefits - 13,991 1,175 - - $0 0.0%
Total Personal Services 13,409,893 14,413,495 15,234,067 16,448,200 17,242,950 794,750 4.8%
Supplies
Office Supplies 39,405 31,639 21,108 37,500 38,250 750 2.0%
Fuels/Lubes 154,724 215,352 250,078 288,850 273,500 (15,350) -5.3%
Uniform Allowance 109,572 81,922 81,967 104,250 110,050 5,800 5.6%
Operating Supplies 667,777 792,513 887,802 821,900 820,200 (1,700) -0.2%
Equipment Parts 145,394 161,157 189,628 190,800 176,800 (14,000) -7.3%
Street Signs 49,615 22,109 11,205 39,000 31,000 (8,000) -20.5%
Total Supplies 1,166,487 1,304,692 1,441,788 1,482,300 1,449,800 (32,500) -2.2%
Services & Charges
Audit Fees 20,605 17,442 19,838 22,500 23,000 500 2.2%
Engineering Fees 1,472 17,348 4,220 5,000 - (5,000) -100.0%
Legal Fees 244,402 270,650 288,808 275,000 300,000 25,000 9.1%
Professional Services 99,592 125,155 197,651 168,600 178,750 10,150 6.0%
Telephone 72,558 75,677 77,233 79,950 82,500 2,550 3.2%
Postage 10,053 10,948 12,788 13,450 13,100 (350) -2.6%
Travel, Conferences/Schools 113,688 124,308 147,637 196,750 217,550 20,800 10.6%
Car Allowance 9,600 9,600 9,600 9,600 9,600 - 0.0%
Advertising/Marketing 12,416 5,766 9,819 7,500 8,000 500 6.7%
Publishing 8,826 14,668 15,875 19,150 19,200 50 0.3%
Property/liability Insurance 183,379 210,633 222,189 238,350 269,450 31,100 13.0%
Utilities 407,785 521,719 535,974 526,400 562,800 36,400 6.9%
Building Maintenance 155,182 194,437 183,421 196,450 193,350 (3,100) -1.6%
Equipment/Software Maint.522,253 558,821 575,749 660,100 683,600 23,500 3.6%
Contractual Services 214,024 268,337 358,717 387,950 391,300 3,350 0.9%
Building Rent 657 1,710 1,841 5,000 5,000 - 0.0%
Equipment Rental 35,337 36,445 18,200 40,000 25,500 (14,500) -36.3%
Dues & Subscriptions 50,652 52,625 54,389 65,100 81,050 15,950 24.5%
Taxes & Licenses 348 1,001 802 850 850 - 0.0%
Credit Card Fees 19,654 24,972 40,056 27,750 41,250 13,500 48.6%
Miscellaneous 33,016 39,238 44,251 15,100 16,250 1,150 7.6%
Fleet Replacement Charge 372,000 404,000 436,500 471,000 509,000 38,000 8.1%
IT Equipment Charge - - 92,600 92,600 88,450 (4,150) -4.5%
Total Services & Charges 2,587,499 2,985,500 3,348,158 3,524,150 3,719,550 195,400 5.5%
Capital Outlay 37,718 257,243 3,830 - - - -
Debt Service - 106,845 110,258 115,950 109,900 (6,050) -5.2%
Transfers Out 171,591 - - - - - -
Total General Fund Expenditures $17,373,188 $19,067,775 $20,024,013 21,570,600 22,522,200 $951,600 4.4%
^^
CITY OF ELK RIVER
2025 PRELIMINARY BUDGET
GENERAL FUND EXPENDITURES BY ACCOUNT
Page 194 of 197
2021 2022 2023 2024 6/30/24 2025 INCREASE/%
REVENUES:ACTUAL ACTUAL ACTUAL BUDGET ACTUAL PRELIMINARY DECREASE CHANGE
Taxes
Property Taxes 12,297,572 13,017,377 13,785,282 14,917,700 5,335,967 16,169,050 1,251,350 8.4%
Gravel Tax 233,745 173,039 156,365 225,000 13,156 225,000 - 0.0%
Total Taxes 12,531,317 13,190,416 13,941,647 15,142,700 5,349,123 16,394,050 1,251,350 17.6%
Licenses & Permits
Liquor License 73,595 81,990 77,630 82,000 72,445 82,000 - 0.0%
THC License - 1,600 5,200 4,000 400 5,000 1,000 25.0%
Cigarette License 4,656 2,825 3,000 4,000 450 4,000 - 0.0%
Rental License 62,603 56,725 62,260 65,000 28,930 65,000 - 0.0%
Mining License 25,849 26,108 26,843 26,000 6,628 26,000 - 0.0%
Garbage Hauler License 2,460 1,545 1,940 2,500 2,505 2,500 - 0.0%
Other Business License/Permit 15,955 17,685 15,815 16,000 11,990 16,000 - 0.0%
NPDES Permit 24,675 16,305 13,475 23,000 3,675 23,000 - 0.0%
Building Permit 588,999 512,999 521,105 600,000 143,695 550,000 (50,000) -8.3%
Plumbing/Heating Permit 191,019 189,965 214,743 160,000 44,242 175,000 15,000 9.4%
Permit Surcharge 753 629 657 700 2,817 700 - 0.0%
Animal License 800 660 810 - 100 - - #DIV/0!
Other Non-Business Lic/Permit 24,165 30,097 32,782 25,000 5,391 25,000 - 0.0%
Total Licenses & Permits 1,015,529 939,133 976,260 1,008,200 323,268 974,200 (34,000) -3.4%
Intergovernmental Revenue
Federal Grant - 10,678 1,872 - - - - 0.0%
MV Credit 5,756 5,894 5,786 6,000 - 6,000 - 0.0%
Fire State Aid 218,909 255,658 279,775 230,000 3,000 275,000 45,000 19.6%
Police State Aid 276,543 320,526 339,387 340,000 - 340,000 - 0.0%
Police Training Reimb 38,002 33,489 31,316 35,000 - 35,000 - 0.0%
State Crime Prevention Grant 42,717 30,861 48,781 48,000 10,960 48,000 - 0.0%
Other Grants - - - - 12,396 - - #DIV/0!
Total Intergovernment Revenue 581,927 657,106 706,917 659,000 26,356 704,000 45,000 6.8%
Charges for Services
Planning & Zoning Fees 33,725 27,084 22,572 25,000 14,914 25,000 - 0.0%
Plan Check Fee 281,502 235,691 216,110 250,000 63,183 230,000 (20,000) -8.0%
Special Assessment Search 1,250 330 365 500 60 500 - 0.0%
Copies 1,491 1,053 1,032 1,500 701 1,500 - 0.0%
Other General Govt Services - 13 330 - - - - #DIV/0!
Lockout Fees 3,780 3,365 2,700 3,500 928 3,500 - 0.0%
Police Services 67,177 46,470 46,027 45,000 11,647 46,000 1,000 2.2%
School Liaison 155,077 180,030 184,055 183,000 93,557 185,000 2,000 1.1%
Animal Impound Fee 300 625 400 500 350 500 - 0.0%
Fire Contracts 289,662 380,317 430,774 400,000 259,593 465,750 65,750 16.4%
Fire Services 2,475 6,194 6,600 3,000 1,009 3,000 - 0.0%
Street Services 27,426 21,433 23,182 35,000 15,817 35,000 - 0.0%
Engineering Services Reimb 16,505 14,741 22,542 20,000 - 20,000 - 0.0%
Recreation Fees 32,505 45,160 53,082 50,000 32,996 52,500 2,500 5.0%
Sr Center Activities 36,264 40,515 43,817 43,000 20,834 47,500 4,500 10.5%
Farmer's Market 21,839 50,381 48,492 12,000 24,055 15,000 3,000 25.0%
Elk RiverFest 20,622 20,845 27,250 20,000 12,485 20,000 - 0.0%
Park Use Fee 25,238 39,033 64,433 40,000 36,029 70,000 30,000 75.0%
Sewer Inspection Fee 17,840 15,060 16,250 15,000 6,940 15,000 - 0.0%
Contractor License Check 1,275 1,070 795 1,200 415 1,200 - 0.0%
Total Charges for Services 1,035,953 1,129,410 1,210,808 1,148,200 595,513 1,236,950 88,750 7.7%
Fines
Court Fines 125,266 125,054 165,910 150,000 67,501 155,000 5,000 3.3%
Parking Fines - - - - - - - #DIV/0!
Ordinance Violations 2,000 2,900 4,000 - - - - #DIV/0!
Total Fines 127,266 127,954 169,910 150,000 67,501 155,000 5,000 3.3%
2024 BUDGET
GENERAL FUND REVENUES
CITY OF ELK RIVER
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2021 2022 2023 2024 6/30/24 2025 INCREASE/%
REVENUES:ACTUAL ACTUAL ACTUAL BUDGET ACTUAL PRELIMINARY DECREASE CHANGE
Other Revenue
Interest Income 119,745 153,523 202,983 150,000 89,153 175,000 25,000 16.7%
Refunds & Reimbursements 145,251 144,641 188,548 145,000 (10,229) 150,000 5,000 3.4%
Contributions - Concert Sponsorships 19,000 24,811 42,260 25,000 25,750 26,000 1,000 4.0%
Miscellaneous Revenue 13,919 12,619 11,819 10,000 4,389 10,000 - 0.0%
Total Other Revenue 297,915 335,594 445,610 330,000 109,063 361,000 31,000 9.4%
Other Financing Sources
Other Financing Source - Lease - 225,719 - - - - - 0.0%
Transfers In
Transfers 460 1,656 300,749 - 225 - - -
Transfer-Capital Outlay Reserv - 50,000 78,500 89,000 8,500 95,000 6,000 6.7%
Transfer-Development 10,600 10,650 - - - - 0.0%
Transfer-ARPA - - - - - 0.0%
Transfer-WWTP 160,000 165,000 170,000 175,000 - 180,000 5,000 2.9%
Transfer-Liquor 500,000 750,000 1,000,000 1,000,000 - 750,000 (250,000) -25.0%
Transfer-Garbage 52,000 54,000 56,500 250,000 - 60,000 (190,000) -76.0%
Transfer-Utilities 1,355,000 1,355,000 1,380,000 1,400,000 573,888 1,400,000 - 0.0%
Transfer-Stormwater 121,000 135,000 135,000 135,000 - 125,000 (10,000) -7.4%
Transfer-EDA 41,000 43,000 45,000 46,000 - 48,000 2,000 4.3%
Transfer-HRA 41,900 35,000 36,500 37,500 - 39,000 1,500 4.0%
Total Transfers In 2,281,960 2,599,306 3,202,249 3,132,500 582,613 2,697,000 (435,500) -13.9%
Total General Fund Revenues 17,871,867 19,204,638 20,653,401 21,570,600 7,053,437 22,522,200 951,600 4.4%
Page 196 of 197
$5,340,000
City of Elk River, Minnesota
General Obligation Capital Improvement Plan Refunding Bonds, Series 2020B
Issue Summary
Post-Sale Tax Levies
Payment
Date
Principal Coupon Interest Total P+I 105% Overlevy Levy Amount Levy/Collect
Year
02/01/2022 870,000.00 5.000%215,812.33 1,085,812.33 1,140,102.95 1,140,102.95 2020/2021
02/01/2023 940,000.00 5.000%154,695.00 1,094,695.00 1,149,429.75 1,149,429.75 2021/2022
02/01/2024 295,000.00 5.000%107,695.00 402,695.00 422,829.75 422,829.75 2022/2023
02/01/2025 305,000.00 5.000%92,945.00 397,945.00 417,842.25 417,842.25 2023/2024
02/01/2026 320,000.00 5.000%77,695.00 397,695.00 417,579.75 417,579.75 2024/2025
02/01/2027 340,000.00 5.000%61,695.00 401,695.00 421,779.75 421,779.75 2025/2026
02/01/2028 355,000.00 4.000%44,695.00 399,695.00 419,679.75 419,679.75 2026/2027
02/01/2029 365,000.00 4.000%30,495.00 395,495.00 415,269.75 415,269.75 2027/2028
02/01/2030 380,000.00 1.000%15,895.00 395,895.00 415,689.75 415,689.75 2028/2029
02/01/2031 385,000.00 1.000%12,095.00 397,095.00 416,949.75 416,949.75 2029/2030
02/01/2032 390,000.00 1.000%8,245.00 398,245.00 418,157.25 418,157.25 2030/2031
02/01/2033 395,000.00 1.100%4,345.00 399,345.00 419,312.25 419,312.25 2031/2032
Total $5,340,000.00 -$826,307.33 $6,166,307.33 $6,474,622.70 $6,474,622.70 -
Page 197 of 197