May 21, 2025 Budget Overview and CIP
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Budget Overview and Capital Improvement Plan May 21, 2025 Agenda 2 1) Budget Overview 2) 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 FY25-26 Total Budget Appropriation 6 Operating $710M 48% Capital $478M 33% Contingency $157M 11% Debt $115M 8% FY25-26 Total Budget $1.46B FY25-26 Operating Budget by Fund 7 General Fund $338M 48% Enterprise Funds $151M 21% Internal Service Funds $122M 17% Special Revenue Funds $87M 12% Vehicle Replacement Fund $12M 2% Total FY25-26 Budget $710M 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 FY25-26 is adopted as part of the FY25-26 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 Water $737M 30% Streets $481M 20% Public Safety $323M 13% Wastewater $297M 12% Facility Maintenance $169M 7% Parks $137M 6% Solid Waste $58M 2.4% Drainage $56M 2.3% Airport $53M 2.2% Landfill $42M 1.7% Library $37M 1.5% Parking Lots $22M 0.90% Transit $11M 0.46% Arts $1M 0.04% Total 10-Year CIP $2,423M 10-Year CIP by Funding Source 12 Enterprise Funds $1,133M 47% G. O. Bonds $515M 21% Special Revenue $404M 17% Pay-As-You-Go $196M 8% Grants $111M 5% Development Impact Fees $64M 2% Total 10-Year CIP $2,423M Questions? 13