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HomeMy WebLinkAbout06 27 2016 Long Range Financial Planning Presentation6/29/2016 1 June 27, 2016 Frank Boyles, City Manager Don Uram, Finance Director1 5-year Property Tax Projections 2017 Preliminary Budget and Tax Levy 2017-2021 Capital Improvement Plan Service Impacts Overview 2 6/29/2016 2 The Financial Planning Cycle 3 Long-Range Planning 2017 Budget Preparation Capital Improvement Plan Adopt Preliminary Budget & Tax Levy Finalize 2017 Budget Requests Adopt Final Budget & Tax Levy 5-Year Projection 4 2016 2017 2018 2019 2020 2021 Tax Levies: General 7,172,793 7,476,117 7,977,646 8,358,494 8,830,012 9,301,193 Equipment Revolving Fund 325,000 400,000 475,000 550,000 600,000 600,000 Revolving Park Equip Fund - - 125,000 150,000 175,000 200,000 Facilities Management Fund - - - 30,000 30,000 80,000 EDA Fund 155,000 140,000 140,000 140,000 140,000 140,000 Debt Service 3,425,569 3,834,101 3,692,913 3,865,447 4,160,572 4,524,091 11,078,362 11,850,218 12,410,559 13,093,941 13,935,584 14,845,284 Change from Previous Year 684,276 771,856 560,341 683,382 841,643 909,700 Subtotals from above; should match line 684,276 771,856 560,341 683,382 841,643 909,700 Breakdown of Change in Levies: General 101,063 303,324 501,529 380,848 471,518 471,181 Equipment Revolving Fund 75,000 75,000 75,000 75,000 50,000 - Revolving Park Equip Fund - - 125,000 25,000 25,000 25,000 Facilities Management Fund - - - 30,000 - 50,000 EDA Fund (4,000) (15,000) - - - - Debt 512,213 408,532 (141,188) 172,534 295,125 363,519 Total Change 684,276 771,856 560,341 683,382 841,643 909,700 General 1.43% 4.23% 6.71% 4.77% 5.64% 5.34% Equipment Revolving Fund 30.00% 23.08% 18.75% 15.79% 9.09% 0.00% Revolving Park Equip Fund n/a n/a n/a 20.00% 16.67% 14.29% Facilities Management Fund n/a n/a n/a n/a 0.00% 166.67% EDA Fund -2.52% -9.68% 0.00% 0.00% 0.00% 0.00% Debt 17.58% 11.93% -3.68% 4.67% 7.63% 8.74% Total Change 6.58% 6.97% 4.73% 5.51% 6.43% 6.53% Projected 1 2 3 4 5 6/29/2016 3 Include Commitments to long-term plans (CIP) Debt obligations (existing and proposed) Estimates for revenues/expenditures Phased funding increase for equip. and parks Not included Additional staff or equipment Service level impacts due to growth Projections 5 Revenue Changes Bond Proceeds (Overlay Projects) - $300,000 Transfers In - $67,300 Water Quality (new) -$60,000 Interest Earnings – ($34,250) Bldg. Permit Related – ($76,400) LMCIT Dividends – ($70,000) 2017 Preliminary Budget 6 6/29/2016 4 2017 Preliminary Budget 7 2015 2016 2017 2017 ACTIVITY AMENDED DEPT REQUESTED Dept Requested Fund 101 - GENERAL FUND REVENUES BUDGET BUDGET AMT CHANGE TAXES 8,087,427.39 8,257,512.00 8,494,137.00 236,625.00 FRANCHISE TAXES 604,997.22 595,000.00 603,000.00 8,000.00 INTERGOVERNMENTAL 1,573,864.30 1,535,235.00 1,542,735.00 7,500.00 CHARGES FOR SERVICES 1,048,564.30 1,119,306.00 1,124,586.55 5,280.55 SPECIAL ASSESSMENTS 365.57 5,000.00 2,500.00 (2,500.00) INTEREST (LOSSES) ON INVESTMENTS 114,970.33 120,000.00 85,750.00 (34,250.00) MISCELLANEOUS REVENUES 310,224.23 150,550.00 85,550.00 (65,000.00) SALE OF ASSETS 7,130.00 TRANSFERS IN 355,520.00 362,640.00 430,000.00 67,360.00 DEBT ISSUED 300,000.00 300,000.00 LICENSES AND PERMITS 587,463.97 630,495.00 584,220.00 (46,275.00) FINES AND FORFEITURES 1,390.00 12,690,527.31 12,775,738.00 13,252,478.55 476,740.55 General Fund Expenditures - $306,740 Personnel Costs - $162,304 Current Expenditures - $253,158 Capital Outlay – ($42,022) Debt Transfer – ($66,700) 2017 Preliminary Budget 8 6/29/2016 5 2017 Preliminary Budget 9 2015 2016 2017 2017 ACTIVITY AMENDED DEPT REQUESTED Dept Requested Fund 101 - GENERAL FUND EXPENDITURES BUDGET BUDGET AMT CHANGE MAYOR & COUNCIL 58,530.98 55,409.00 58,193.00 2,784.00 ORDINANCE 6,951.54 7,500.00 7,500.00 ADMINISTRATION 375,541.68 404,081.00 411,411.00 7,330.00 BOARDS & COMMISSIONS 10,136.72 10,539.00 10,689.00 150.00 ELECTIONS 84,750.00 29,640.00 (29,640.00) FINANCE 411,253.54 444,977.00 459,188.00 14,211.00 INTERNAL AUDITING 30,748.00 28,150.00 28,150.00 ASSESSING 152,155.34 169,750.00 187,250.00 17,500.00 LEGAL 233,507.21 200,000.00 200,000.00 HUMAN RESOURCES 88,933.77 154,831.00 165,279.00 10,448.00 COMMUNICATIONS 88,443.85 114,393.00 119,028.40 4,635.40 COMMUNITY DEVELOPMENT 294,664.03 337,359.00 351,592.00 14,233.00 INFORMATION TECHNOLOGY 321,238.40 336,161.00 326,857.00 (9,304.00) FACILITIES - CITY HALL 499,482.75 452,058.50 485,765.65 33,707.15 POLICE 3,351,784.68 3,554,365.22 3,716,300.38 161,935.16 FIRE 880,919.03 902,031.68 904,393.06 2,361.38 BUILDING INSPECTION 553,671.08 595,843.00 605,216.00 9,373.00 EMERGENCY MANAGEMENT 9,576.65 9,750.00 11,801.75 2,051.75 ANIMAL CONTROL 25,200.00 26,448.00 26,448.00 ENGINEERING 361,664.31 387,626.00 388,159.00 533.00 STREET 1,384,195.51 1,406,391.86 1,406,426.46 34.60 CENTRAL GARAGE 332,454.53 380,368.90 398,230.00 17,861.10 RECREATION 343,750.97 406,218.40 403,317.40 (2,901.00) PARKS 1,337,704.36 1,463,838.23 1,510,502.65 46,664.42 LIBRARIES 61,436.91 46,289.21 52,761.69 6,472.48 CONTINGENT RESERVE 6,213.00 Transfers to other Funds 1,036,242.50 1,084,719.00 1,018,019.00 (66,700.00) 12,341,151.34 13,008,738.00 13,252,478.44 243,740.44 Expenditure Changes Assessing Contract - $17,500 Police Body Cams - $33,000 EAB - $25,000 Vehicle Repairs (Major) - $10,000 2040 Comp Plan - $6,000 Utilities (Park Lighting) - $20,300 Maintenance Agreements (City Hall) - $17,475 2017 Preliminary Budget 10 6/29/2016 6 11 12 6/29/2016 7 Annual Update of Prior Year Plan Transportation Equipment Replacement Park Plan Technology Facilities Management Enterprise Funds 2017 – 2021 CIP 13 Service Areas Impacted Crime Prevention/Suppression Traffic Enforcement Continued Deferred Maintenance (street, trails, etc.) Fleet Replacement Updates of IT Systems Efficiency Improvements Employee Training Service Impacts 14 6/29/2016 8 Cost Saving Measures to Preserve Services Use of Technology Dragon Speech Digital Dictation software Code enforcement application Autocad 3d Mobile devices with cameras Grant Opportunities CenterPoint Energy matching grant used for a digital display speed sign Met Council grant for the Comp Plan Cooperative Comprehensive Planning with County One Stop Shop Management Assist for Tech Village Partnerships – SMSC, Scott Co., MNDOT 15 Service Alternatives Maintain existing level or quality Reduce service standards Eliminate services Outsource services Increase service levels New service areas Service Impacts 16For illustrative purposes only 6/29/2016 9 Does the Council generally support a 2017 Tax Levy of about 7%? If not, what level is acceptable? What Services should be cut back or eliminated? 2017 -2021 CIP Transportation – Continue to plan for 2 miles of replacement annually in Light of Cost? Equipment and Parks – Implement phased funding increases? EAB - Escalation of Costs Acceptable? Service Levels – Status quo has resulted in a reduction. Focus on staffing or projects? Questions 17