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SUBJECT:
<br />DATE:
<br />PROPOSED 2016 BUDGET AND 2016 -2020 CIP
<br />OCTOBER 26, 2015
<br />PAGE 5 OF 10
<br />changes include cuts totaling $482,341 and new revenue (from the lease of the former
<br />City Shops building, approved by Council on October 6) totaling $160,832, for total 2016
<br />increased resources of $643,173. However, if Council wants to further increase or
<br />accelerate funding for streets, staff has listed options totaling $1,044,091 for 2016
<br />and cuts totaling an additional $302,604 in the next five years. In other words,
<br />staff had identified specific cuts and options totaling $5.3 million for Council to
<br />consider, of that amount, $4.0 million is already incorporated into the proposed
<br />2016 budget and 2016 -2020 CIP. These changes do have impact on the Capital
<br />Project and Combined Utility Fund reserves forecasted reserves, as noted in more
<br />detail below.
<br />Summary of Changes Made Since 9/15 Proposed Budget. Based on Council's
<br />comments during the 9/15 and 9/21 budget meetings, staff made a number of changes
<br />to the proposed budget. These changes were made to provide funding to speed up the
<br />pace at which City streets are resurfaced. The changes are summarized below.
<br />Changes From 9/15 Proposed Budget To 10/26 Budget To Fund Expanded Paving
<br />9/15 Proposed Budget
<br />2016 1
<br />2017 1
<br />2018 1
<br />2019 1
<br />2020
<br />15 -Year Total
<br />Street Reconstruction
<br />1,950,000
<br />1,800,000
<br />1,850,000
<br />1,900,000
<br />1,950,000
<br />9,450,000
<br />Pavement Booster
<br />460,000
<br />600,000
<br />300,000
<br />1,000,000
<br />500,000
<br />2,860,000
<br />Total Capital Projects Fund
<br />2,410,000
<br />2,400,000
<br />2,150,000
<br />2,900,000
<br />2,450,000
<br />12,310,000
<br />Water Line Replacements
<br />220,000
<br />230,000
<br />245,000
<br />255,000
<br />260,000
<br />1,210,000
<br />Sewer Line Replacements
<br />315,000
<br />330,000
<br />350,000
<br />365,000
<br />370,000
<br />1,730,000
<br />Total Utility Funds
<br />535,000
<br />560,000
<br />595,000
<br />620,000
<br />630,000
<br />2,940,000
<br />Total Paving & Utility Related Expenditures
<br />2,945,000
<br />2,960,000
<br />2,745,000
<br />3,520,000
<br />3,080,000
<br />15,250,000
<br />10/26 Proposed Budget
<br />2016
<br />2017
<br />2018
<br />2019 1
<br />2020
<br />5 -Year Total
<br />Street Reconstruction
<br />1,950,000
<br />1,800,000
<br />1,850,000
<br />1,900,000
<br />1,950,000
<br />9,450,000
<br />Pavement Booster
<br />885,000
<br />1,500,000
<br />715,000
<br />2,650,000
<br />2,800,000
<br />8,550,000
<br />Total Capital Projects Fund
<br />2,835,000
<br />3,300,000
<br />2,565,000
<br />4,550,000
<br />4,750,000
<br />18,000,000
<br />Water Line Replacements
<br />500,000
<br />1,830,000
<br />2,045,000
<br />255,000
<br />260,000
<br />4,890,000
<br />Sewer Line Replacements
<br />315,000
<br />690,000
<br />910,000
<br />365,000
<br />370,000
<br />2,650,000
<br />Total Utility Funds
<br />815,000
<br />2,520,000
<br />2,955,000
<br />620,000
<br />630,000
<br />7,540,000
<br />Total Paving & Utility Related Expenditures
<br />3,650,000
<br />5,820,000
<br />5,520,000
<br />5,170,000
<br />5,380,000
<br />25,540,000
<br />Net Changes from 9/15 to 10/26
<br />2016
<br />2017
<br />2018
<br />2019 1
<br />2020
<br />5- Year Total
<br />Added Capital Projects Funds to Booster
<br />425,000
<br />900,000
<br />415,000
<br />1,650,000
<br />2,300,000
<br />5,690,000
<br />Added Water Utility Funds to Water Line Replaement
<br />280,000
<br />1,600,000
<br />1,800,000
<br />-
<br />-
<br />3,680,000
<br />Added Wastewater Utility Funds to Sewerline
<br />Replacement
<br />-
<br />360,000
<br />560,000
<br />-
<br />-
<br />920,000
<br />Total Additions
<br />705,000
<br />2,860,000
<br />2,775,000
<br />1,650,000
<br />2,300,000
<br />10,290,000
<br />Cuts & New Revenue (See Table for Details)
<br />643,173
<br />430,708
<br />1,295,808
<br />581,208
<br />1,015,208
<br />3,966,105
<br />Draw Down Reserves
<br />61,827
<br />2,429,292
<br />1,479,192
<br />1,068,792
<br />1,284,792
<br />6,323,895
<br />These changes resulted in changes to the Capital Project Fund and Combined Utility
<br />Fund forecasts changing as shown in the following graphs.
<br />CITY COUNCIL COMMUNICATION
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