Loading...
HomeMy WebLinkAbout08 07 2017 2018 Preliminary Budget and Tax Levy PresentationAugust 07, 2017 1 Aug. 21–Budget Work Session Sept. 18 –Adopt Preliminary Levy and Budget Nov. 6 –Budget Work Session Nov. 9 –Town Hall Budget meeting (tentative) Dec. 4 –Public Budget meeting Dec. 4 –Adopt Final Tax Levy and Budget Tax Levy and Budget Schedule 2 Bond Rating –Maintain/improve current rating (AA+) 2017 –S&P Rating AA+ General Fund Reserves –40% to 50% 2016 Year End –50% Property Tax Rank –Maintain/improve Property Taxes/HH –Growth plus inflation General Fund Expenditures/HH –Growth plus inflation Budget Objectives/ Metrics 3 City Tax Capacity Rate* 4 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% 2010 2011 2012 2013 2014 2015 2016 Prior Lake 7-County Metro Average Metro Pop. 10,000 - 24,999 Metro Pop. 25,000 - 49,999 *City Levy/Tax Capacity = Tax Rate General Fund Operating Expenditures Per Household 5 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 $1,600 $1,700 $1,800 $1,900 $2,000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Expected Op. Expenditures/HH Op. Expenditures/HH Property Tax Levy Per Household 6 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 $1,400 $1,500 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Property Tax Levy/HH Expected Property Tax Levy/HH Property Tax Levy History 7 $10,079,186 $10,114,124 $9,414,124 $9,414,124 $9,448,918 $10,394,086 $11,078,361 $11,568,155 $12,331,216 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 $10,500,000 $11,000,000 $11,500,000 $12,000,000 $12,500,000 $13,000,000 2010 2011 2012 2013 2014 2015 2016 2017 2018 Property Tax Levy Actual Tax Levy Average Tax Levy Increase of 2.6% Tax Supported Funds General Debt Service Revolving Equipment Revolving Park Equipment Facilities Economic Development Authority 2018 Budgets 8 Personnel Two additional staff (maintenance worker and police officer) One additional part-time police CSO One police drug task force officer (SMSC annual contribution of $70,000 for 2017- 2019) 2018 Revisions to Long Range Plan 9 Other Expenditures Laserfiche Software Upgrade -$43,000 Police body cameras -$37,000 Streets pavement management -$56,000 Parks sidewalk/trail repair & maint. - $30,000 Shift PW Director from Personnel to Professional Services in 2018 for interim staffing 2018 Revisions to Long Range Plan 10 Debt Service -Shift street projects to 2018 Park Avenue Duluth/TH13 2018 Revisions to Long Range Plan 11 Union contract negotiations Health care plans/rate review Evaluation of fee schedule items Additional review of revenue sources Additional review of expenditure requests Upcoming discussion and review 12 13 LONG RANGE FORECAST CIP Workshop 08.07.2017 2017 2018 2019 2020 2021 Tax Levies: General 7,192,792 7,846,015 8,256,262 8,749,651 9,127,890 Equipment Revolving Fund 375,000 550,000 600,000 600,000 600,000 Revolving Park Equip Fund 213,406 368,184 469,292 563,276 657,649 Facilities Management Fund - - - 30,000 80,000 EDA Fund 140,000 140,000 140,000 140,000 140,000 Debt Service 3,646,956 3,426,683 3,757,829 3,678,034 4,139,067 Breakdown of Change in Levies: General 19,999 653,223 410,247 493,389 378,239 Equipment Revolving Fund 50,000 175,000 50,000 - - Revolving Park Equip Fund 213,406 154,778 101,108 93,984 94,373 Facilities Management Fund - - - 30,000 50,000 EDA Fund (15,000) - - - - Debt 221,387 (220,273) 331,146 (79,795) 461,033 Total Change 489,792 762,728 892,501 537,578 983,645 General 0.28%9.08%5.23%5.98%4.32% Equipment Revolving Fund 15.38%46.67%9.09%0.00%0.00% Revolving Park Equip Fund n/a 72.53%27.46%20.03%16.75% Facilities Management Fund n/a n/a n/a n/a 166.67% EDA Fund -9.68%0.00%0.00%0.00%0.00% Debt 6.46%-6.04%9.66%-2.12%12.53% Total Change 4.42%6.59%7.24%4.07%7.15% Projected Service Challenges Proactive Policing Winter Maintenance Transportation Projects Aging Fleet impact to operations Parks, trails and natural area maintenance Technology Replacement EAB 14 Council Feedback and Direction Tonight: ‣Preliminary property tax levy Budget Workshops (Aug. 21/Nov. 6): ‣2018 Budgets (Preliminary/Final) ‣Recommended new/increased fees 15 16 Service Growth Chart INDICATOR 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Population 21,236 21,726 22,141 22,431 22,641 22,796 23,031 23,296 23,731 24,201 25,250 Dwelling Units 7,823 8,019 8,185 8,301 8,385 8,447 8,541 8,647 8,821 9,009 9,180 Sewer/Water Accounts 7,205 7,380 7,509 7,581 7,780 7803 7903 8030 8285 8473 8623 Building Permits -ALL 2,242 1,965 1,889 1,472 1,400 1,624 1,884 2,291 2,292 2,150 2,300 Total Single Family 112 84 80 65 62 94 80 122 149 122 150 Total Townhomes / MF 85 83 36 19 0 0 26 52 39 8 0 TOTAL SF/TH/MF 197 167 116 84 62 94 106 174 188 130 150 Total Other Permits 2,045 1,798 1,773 1,388 1,338 1,530 1,778 2,117 2,104 2,020 2,150 No. of Parks 39 42 48 49 49 51 51 51 51 51 51 Acres of Parks 617 810 932 994 994 1,004 1,004 1,026 1,044 1,057 1,057 Street Miles 93.5 94.5 95.1 95.6 97.1 98.4 105.1 105.1 105.2 112.3 113.9 Sanitary Sewer Miles 97.0 98.2 99.4 99.5 102.4 103.6 112.9 112.9 113.0 125.9 125.9 Watermain Miles 109.0 109.2 110.9 111.0 113.9 117.2 126.7 126.8 127.1 133.1 134.7 Storm Sewer Miles 79.6 80.6 81.6 81.6 83.7 83.7 83.8 83.8 83.8 88.2 89.76 Police Calls 9,416 9,668 11,162 10,544 10,046 9,654 10,412 10,978 11,178 11,198 11,810 Fire Calls 1,011 1,034 1,116 804 406 432 443 478 451 404 454 17