City Council Minutes 2012 10 16 - Laserfiche WebLink

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City Council Meeting Minutes October 16, 2012 Page 9 of 15 & Reconstruction Program; Maintaining Service Levels; and a place holder for IT Plan Implementation. The City-Wide uses of the funds include Public Works, Transportation and Public Utilities, Police Safety and Judicial, Recreation and Cultural Services Parks and Open Space. The City-Wide Sources of Funds: Taxes (Sales, Property, Use and Lodging); Charges for services; Intergovernmental; Licenses and Permits; and Interest earning. The Forecast Assumptions include two large transfers. These transfers will bring down the reserves but the reserves will stay above the minimum amount as established by policy. Staff will monitor the revenues in 2014. • Sales Tax Revenue (+5.0% in 2012, +3.5% in 2013, + 3.0% 2014-2017) • Property Tax Revenue (-2.2% in 2012, +1.3% in 2013, +3.4% 2014-2017) • Consumer Use Tax (+50.0% in 2012, + 3.0% in 2013, 1.3% for 2014-2017) • Building Use Tax (+66.9% in 2012, -.47.0% in 2013, 12.0% for 2014-2017) • Water&Wastewater User Fees (estimated 6.0% increase in water rates) • Employee Salaries & Wages (3.6% annual average from 2013 — 2017) • Employee Benefits (+6.1% annual average from 2013 —2017) • Total General Fund Revenues (+1.6% from 2013— 2017) • Total General Fund Expenditures (+2.6% from 2013 —2017) Five Year Capital Improvement Plan: • Street Repair & Reconstruction Program ($7.5M, 2013-2017) • City Services Facility ($6.6M, 2012-2013) • Sludge Treatment/Handling ($6.2M, 2013-2014) • McCaslin/US36 Interchange — DDI ($3.5M, 2013-2014) • Vehicle and Equipment Replacement ($3.5M, 2013-2017) • Wastewater Plant Upgrade/Design and Debt Service ($3.1M, 2013-2017) • South Street Underpass ($2.9M, 2013-2014) • Water and Sewer Line Replacements ($2.6M, 2013-2017) • NCWCD —Windy Gap Firming ($1.9M, 2013-2017) • McCaslin/Washington Underpass ($1.6M, 2012-2013) The Council's key decisions are whether the revenue and expenditure estimates are reasonable; does the budget reflect prudence; does the capital projects preserve assets and focus on areas of greatest need and whether we can maintain service levels over the long run. The key dates on the budget calendar are as follows: October 16 — Council Meeting — Public Hearing - Identify any further revisions November 5— City Council Meeting - Resolution adopting the budget, Resolution appropriating the funds and Resolution levying taxes