HomeMy WebLinkAbout2.a. Budget DiscussionAGENDA ITEM: 2010 Budget Discussion
ty. NDA Sq TI N:
AGENDA NO. 2-A,
PREPARED BY: Dwight Johnson, City Administrator
ATTACHMENTS: List of minor budget corrections;
Strategies to reduce the tax rate
(reprinted); Vehicle replacement
spreadsheets; Future Building CIP
needs spreadsheet
APPROVED BY:
obi
RECOMMENDED ACTION: Discuss and direct staff on preparation of preliminary budget
and levy to be adopted on September 1, 2009.
ROSEMOUNT
CITY COUNCIL
City Council Work Session August 12, 2009
EXECUTIVE SUMMARY
ISSUE
The Council needs to determine the budget and tax levy for preliminary approval on September 1, 2009.
By law, a preliminary budget and levy must be submitted by September 15, 2009. The final budget must
be adopted in December. The tax levy may be decreased at the time of final budget approval, but may not
be increased.
BACKGROUND
The Council reviewed overall budget parameters at the April 15 workshop meeting and a first draft of a
full budget on July 15 The draft budget proposed to reduce the City taxes on an average home by $75.
At that meeting, a list of possible strategies to reduce the proposed tax rate was also discussed. The overall
tax levy is currently proposed to drop by $257,144. An additional levy reduction of about $302,000 is
necessary to keep the tax rate level with the 2009 rate. This number may vary significantly when final tax
increment calculations from the County are received in early September, however.
LEVY LIMIT CALCULATION
Based on calculations that staff has made (using the most current information available) out current levy is
approximately $39,000 below what we estimate our levy limit to be. What this means for the City is that
with the proposed budgets and levies before you this evening we would not have to implement any of the
special levies that the State has made available to recover our unallotments. From the information that we
have been able to gather from other communities this is something that would put us in the minority in
regards to what cities will have to do to deal with the loss of LGA and MVI-IC.
BUDGET CORRECTIONS
Subsequent to the first draft of the budget being printed, staff has identified a few items in the draft
budget that should be corrected. A list of these changes and the reasons for them are attached. The
majority of the new funds are needed for the new Quiet Zone agreement with the railroad. The aggregate
impact of these corrections is an increase to the General Fund of $20,500. Staff recommends that these
corrections be included in the preliminary budget to be adopted on September 1°`.
FURTHER REVIEW OF STRATEGIES TO REDUCE THE TAX RATE
General Comment. During the budget discussion on July 15` staff had not prioritized the list of
actions on the list in a preferred order. Upon further review, staff believes that the list of items is
currently in the proper order of priority as listed. In other words, staff recommends that if the Council
wishes to adopt a budget that does not increase the tax rate at all, then items 2a (use all SKB funds)
and 2b (eliminate budget for construction of new trails and sidewalks) should be reduced first. Since
the last meeting, option 2c which would reduce the contingency for salary and health insurance
increases seems somewhat more feasible than before, based on surveys and discussions with other
cities. We could then reduce the equipment levy (option 2d) by whatever remaining amount is needed.
Staff did not originally recommend these changes and still would prefer not to implement them.
Conversations with some neighboring City officials seems to indicate that we are reducing our levy and
our impact on the average taxpayer more than some surrounding cities plan to do. Our preference to
not implement some of the strategies is also informed by more detailed analysis of several City funds
as noted below.
Building Capital Improvement Fund. This is the fund that is used to make major improvements to
City buildings. Staff has developed a scenario in an attached spreadsheet that shows the funding
requirements that will be needed in the coming years to expand City Hall, police and public works
functions. The scenario is somewhat conservative in that it necessarily requires continued use of all
current spaces, but does leave open the possibility of a new separate City Hall building with the police
staying in the current space. This scenario shows that the annual funding requirement will need to
ramp up to $250,000 per year over the next several years and take advantage of all expiring bond issues
to meet our needs over the next decade. For several years, the City has been budgeting $200,000 of
SKB money for capital expenditures for either pavement management, or for former St. Joe's church
improvements.
The current draft budget already reduces the SKB funds available for building needs from $200,000 to
$100,000. By completely eliminating the last $100,000 from the capital improvement funding to lower
the tax levy (option 2a), it will be that much more difficult to achieve the $250,000 funding level in the
next few years. This, in turn, increases the chances that bonding would be needed for future building
improvements which in turn increases the costs and the pressure on future tax levies.
Equipment Capital Improvement Fund. A major component of the Equipment CIP is the need to
replace City vehicles and motorized equipment from time to time. Attached are two spreadsheets each
of which shows a roster of all City vehicles and projected replacement dates. The first spreadsheet
uses the current replacement schedule while the second one noticeably lengthens the replacement time
for certain vehicles (e.g. pickup trucks go from 10 year scheduled replacement to 15 years). By
dividing each vehicle's original cost by its life expectancy, a replacement cost per vehicle is calculated.
The spreadsheets then aggregate the sum of all annual vehicle replacement costs.
The spreadsheet for the current replacement schedule shows that about $430,000 is needed per year to
meet the current replacement schedule and $365,000 per year is needed for the extended replacement
schedule. These schedules would eliminate the need for future borrowing for fire trucks and other
large vehicle replacements. Staff has been assuming that a midpoint of about $400,000 per year is the
currently identified need. The current level of effort for vehicle replacement consists of the current
levy of $201,000 plus the levies for two outstanding equipment certificates ($105,000 and $92,000
respectively). Together, we are close to where we need to be to avoid future debt issues
for equipment needs. But any reduction in the Equipment CIP levy (option 2d) will increase the
chances that we will need to issue debt to replace one or more large vehicles in the next few years.
The Council has been actively trying to reduce or eliminate the need for debt certificates for vehicle
replacement in recent years.
2
OPTIONS
The Council has several options available:
1. Agree to proceed with the budget as presented with the minor corrections.
2. Leave the budget as it is for preliminary approval on September 1' and meet again in the Fall to
consider any reductions after we have more information from the county and other cities.
3. Reduce the budget now, using a combination of options presented.
CONCLUSION
Staff needs direction from the Council on how to proceed to prepare the preliminary budget and levy
to be presented and approved on September 1$`. Staff favors either Option 1 or Option 2.
3
4 ROSEMOUNT
MINNESOTA
M E M O R A N D U M
To: Dwight Johnson, City Administrator
From: Jeff May, Finance Director
Date: August 5, 2009
Subject: Budget Memo August 12 Changes
Since the July 15th work session 3 changes that need to be made to the 2010 budgets have
been brought to my attention. They have a net impact of raising the General Fund budget
by $20,500 (or less than 2/10th of 1 percent of the overall budget). The changes are as
follows:
1) 500 In the Administration budget under 101 41320 -01 437.09. When this
was added I did not change the formula adding this line to the total.
2) 5,000 In the Police budget line 101 42110 -01- 207.04 was added. The Police
Chief forgot to include the ammunition for the M.A.A.G. program.
3) +$15,000 In the Street Maintenance budget line 101- 43121 -01- 404.00 was added.
With the creation of the railroad quiet zones we will incur annual
maintenance costs in the amount of approximately $15,000.
Another thing that has changed since the July 15th work session that changes the overall
picture is the Fiscal Disparity Distribution amount that was made available to us by the
County. This amount increased by just under $55,000 so even though are levy is
increasing by $20,500 our actual tax rate (based on the estimates that we now have
available) is going from an increase of 3.52% on July 15th to an increase of 3.17% for the
August 12th meeting. There are two remaining numbers to get the Total Tax Capacity
Value (which changes monthly until the end of the year) and the Captured Tax
Increment Tax Capacity (which will be available in early September).
August 12, 2009
FUNDING REQUIREMENTS USES
(INCLUDING FIRE STATION LEVY)
2009 2010
Adopted Proposed
Departments Budget Budget Difference Percentage
Council Budget $330,100 $391,800 $61,700 18.69%
Administration Budget 553,500 508,500 (44,700) -8.08%
Elections Budget 40,000 40,000 0 0.00%
Finance Budget 417,900 417,700 (200) -0.05%
General Government Budget 403,300 387,700 (15,600) -3.87%
Community Development Budget 930,000 933,800 3,800 0.41%
Police Budget 2,974,200 3,000,900 28,700 0.90%
Fire Budget 289,000 301,800 12,800 4.43%
Public Works Operating Budgets
Government Buildings Budget 502,000 490,200 (11,800) -2.35%
Fleet Maintenance Budget 576,800 606,800 29,800 5.17%
Street Maintenance Budget 1,297,000 1,324,700 27,700 2.14%
Parks Maintenance Budget 683,900 718,500 34,600 5.08%
Perk Rec Budget General Operating 1,148,400 1,142,300 (6,100) -0.53%
Park Rec Budget Special Programs 123,700 123,700 0 0.00%
Transfers Arena Assistance 115,000 115,000 0 0.00%
Total Operating Budgets General Fund $10,384,890 $10,503,600 $118,700 1.14%
Building CIP Requirements 84,000 24,000 (60,000) 71.43%
Street CIP Requirements 765,000 700,000 (65,000) -8.50%
Equipment CIP Requirements 445,000 439,000 (6,000) 1.35%
Insurance Budget Requirements 275,000 275,000 0 0.00%
Port Authority Operating Levy 50,000 50,000 0 0.00%
Bonded Indebtedness 1,250,750 729,472 (521,278) 41.68%
Bonded Indebtedness Fire Station Levy 146,084 142,273 (3,811) -2.61%
Armory Anticipatory Levy (Value 715109) 80,000 80,000 0 0.00%
"32,183,008,500 x .00798% $174,204"
Water Enterprise Fund 1,224,900 1,353,900 129,000 10.53%
Sewer Enterprise Fund 1,502,400 1,847,300 144,900 9.84%
Storm Water Enterprise Fund 685,700 670,300 4,600 0.89%
Arena Enterprise Fund 414,400 458,000 43,600 10.52%
Total Funding Requirements $17,288,034 $17,072,745 ($215,289) -1.25%
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NOTE: Special Levies include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
August 12, 2009
Types
FUNDING REQUIREMENTS SOURCES
(INCLUDING FIRE STATION LEVY)
2009 2010
Adopted Proposed
Budget Budget Difference Percentage
Internal Revenue Generated:
Licenses and Permits 486,800 382,800 (104,000) 21,37%
Intergovernmental 616,000 566,500 (49,500) 8.04%
Charges for Services 679,100 655,900 (23,200) 3.42%
Fines Forfeits 110,000 125,000 15,000 13.64%
Recreational Fees 253,800 253,800 0 0.00%
Miscellaneous Revenues 254,500 198,200 (58,300) 22,12%
Transfers In 3,500 3,500 0 0.00%
Enterprise Revenues 3,807,400 4,129,500 322,100 8.48%
Total Internal Revenues 6,210,900 6,315,000 104,100 1.88%
MVHC Cuts Made Later To Include In Levy 350,330 412,575
Levy Sources:
Special Levies 1,476,834 951,745 (525,089) 35.58%
General Levy 9,950,830 10,218,575 287,945 2.69%
Total Levy $11,427,464 $11,170,320 ($257,144) -2.25%
Loss of MVHC from State Funding $350,330 $412,575 $62,245 17.77%
Total Revenue Sources $17,288,034 $17,072,745 ($215,289) -1.25%
NOTE: Spada! Levies Include (1)Bonded Indebtedness, (2)Fire Station Levy and (3)Armory Anticipatory Levies.
2009 GENERAL PROPERTY TAX LEVY PAYABLE 2010
GENERAL FUND $8,730,575
BUILDING CIP FUND $24,000
STREET CIP FUND $700,000
EQUIPMENT CIP FUND $439,000
INSURANCE FUND $275,000
PORT AUTHORITY OPERATING LEVY $50,000
TOTAL GENERAL LEVY $10,218,576
G.O. PUBLIC FACILITY BONDS 2001C (Port Authority) (Authorized $173,403) $173,403
G.O. COMMUNITY CENTER REFUNDING BONDS 2001E (Authorized $95,537) $0
G.O. IMPROVEMENT BONDS 2003A (Authorized $86,354) (City Assumed Special Assessments) $88,354
G.O. CAPITAL IMPROVEMENT PLAN (CIP) BONDS 2005A (Authorized $209,846) $209,846
G.O. EQUIPMENT CERTIFICATES 2005B (Authorized $348,540) $0
G.O. EQUIPMENT CERTIFICATES 2006A (Authorized $84,854) $0
G.O. IMPROVEMENT BONDS 20069 (Authorized $268,551) $0
G.O. EQUIPMENT CERTIFICATES 2007B (Authorized $105,079) $105,079
PUBLIC SAFETY REVENUE BONDS 2007 (Dakota Communications Center) (Authorized $82,633) $62,633
G.O. EQUIPMENT CERTIFICATES 2008A (Authorized $92,157) $92,157
TOTAL BONDED INDEBTEDNESS
Last Updated 815109
GENERAL LEVY
BONDED INDEBTEDNESS
MARKET VALUE BASED REFERENDUMS
PRINCIPAL AND INTEREST ON ARMORY BONDS
$729,472
G.O. FIRE STATION REFUNDING BONDS, 2005D (Authorized $142,273) $142,273
TOTAL FIRE STATION LEVY $142,273
ARMORY ANTICIPATORY LEVIES ($2,183,008,500 x .00798% $174,204) (As of 7/5/09) $80,000
(Authorized $174,204 Only Levy Amount Due MSABC)
TOTAL PRINCIPAL AND INTEREST ON ARMORY BONDS $80,000
GRAND TOTAL 2009 PROPERTY TAX LEVY $11,170,320
County Auditor Adjustments (All Subtractions):
Fiscal Disparities Distribution Levy (Metro Area)
Spread Levy Used to Compute Local Tax Rate
Increase from Previous Year in Spread Levy
Market Value Based Referendum Levy Fire Station
Last Updated 8/5109
SPREAD LEVY COMPUTATIONAL WORKSHEET
(INCLUDING FIRE STATION LEVY)
(Proposed)
2007 2008 2009 2010
Total Funding Requirements 17,341,719 17,855,312 17,288,034 17,072,745
Less: Internal Revenues 7,189,300 6,528,300 6,210,900 6,315,000
Less: Market Value Based Levy Fire Station (See Below) 142,627 144,417 146,084 142,273 (3)
Equals: Revenues Needed 10,009,892 11,184,695 10,931,050 10,615,472
Add Back In State MVHC Cuts to Reflect Actual Levy 360,330 0 350,330 412,575
Levy Certified by City to County Auditor 10,360,222 11,184,595 11,281,380 11,028,047
870,514 968,892 1,141,159 1,196,913 (2)
9,489,708 (1) 10,215,703 (1) 10,140,221 (1) 9,832,134
7.65% -0.74% 3.041
164,308 142,527 144,417 142,273 (3)
(1) Actual Spread Levy Based on Numbers from Dakota County
(2) 2010 Number Provided by Dakota County as of 815109
(3) Market Value Based Levy for Fire Station Based on $142,273 Levy Spread to Taxable Market Value on 2119109
Last Update from Dakota County 715109 Shows the Levy of $142,2731$2,183,008,500 $.0650 per $1,000 as our Estimate
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