Budget overview and CIP
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Budget Overview and Capital Improvement Plan November 2, 2021 Agenda 2 1) Budget Overview 1) Capital Improvement Plan (CIP) Overview Budget Process 3 Staff Prepares 5-Year Financial Forecast Develop Base Operating Budget Requests Develop and Balance CIP Present Draft Budget Council Adopts Final Budget Staff Prepares Budget Book Budget Components 4 Revenues Capital Improvement Plan Debt Service Contingency Operating Expenditures Balanced Budget 5 Revenues/Fund Balance Expenditures FY21-22 Total Budget Appropriation 6 Operating $731 M 59% Capital $281 M 23% Contingency $139 M 11% Debt $93 M 7% FY21-22 Total Budget $1.244B FY21-22 Operating Budget 7 Non-Departmental $271.1 37.1% Police $98.8 13.5% Water $57.3 7.8% Fire $52.2 7.1% Field Ops $49.9 6.8% HR $49.4 6.8% Community Svcs $48.3 6.6% Other $39.6 5.4% Transportation $31.5 4.3% IT $17.6 2.4% PFR&SE $15.6 2.1% Total FY21-22 Budget $731.3M Elements of a Capital Improvement Plan 8 • Assets valued over $50,000 with a useful life of 5+ years • Land, buildings, streets & improvements, plants, large equipment • Ten-Year Plan (only FY21-22 is adopted as part of the FY21-22 budget) – Projects in years 1 to 5 have identified funding sources Financial Policy: A. Improve existing assets B. Replace existing assets as needed C. Construct new assets CIP Funding Sources 9 • Enterprise Funds – Water/Sewer o Funding can come from G. O. Bonds, revenue bonds, revenue obligations or cash financing o Debt service paid from future water/sewer fee revenue – Landfill – paid by Landfill user fees – Solid Waste – paid by Solid Waste user fees • General Obligation Bonds – Debt issuance must be authorized by Voters – Streets, Public Safety, Parks, Government Facilities, Open Space/Trails, Libraries, and Flood Control – Debt service paid by Secondary Property Tax • Pay-As-You-Go – Cash funded projects CIP Funding Sources 10 • Transportation Sales Tax – Half cent sales tax – Improve service for all modes of transportation • Highway User Revenue Funds – Restricted Special Revenue Fund – Right of Way acquisition, construction, reconstruction, maintenance, and repair • Development Impact Fees – One-time charges to developers for new development – New or expanded infrastructure • Grants – Federal or state grant funding – Often require a match contribution to the project 10-Year CIP by Project Type 11 Streets $292.8 22.34% Water $237.1 18.09% Facility Maintenance $220.7 16.84% Wastewater $157.6 12.02% Parks $136.9 10.44% Public Safety $96.2 7.34% Landfill $49.8 3.80% Solid Waste $34.3 2.62% Drainage $25.5 1.95% Library $24.0 1.83% Airport $22.0 1.68% Parking Lots $6.2 0.47% Transit $5.8 0.44% Finance $0.6 0.05% Arts $1.2 0.09% Total DRAFT 10-Year CIP $1,310.7M 10-Year CIP by Funding Source 12 Enterprise Funds $481.3 37% G. O. Bonds $382.0 29% Pay-As-You-Go $223.2 17% Transportation Sales Tax $120.7 9% HURF $51.1 4% Development Impact Fees $27.8 2% Grants $24.6 2% Total DRAFT 10-Year CIP $1,310.7M Questions? 13