Loading...
HomeMy WebLinkAboutSECTION 3-BUDGET POLICIES 2004 Final Budaet Section III: Budaet Policies SECTION III: BUDGET POLICIES This section of the budget sets forth the objectives of the budget as a policy document together with a description of the basis of the policy. Policy Context of the Budget The City budget process is part of an overall policy framework that guides the services and functions of the City. The budget serves a key role in that policy framework by allocating financial resources each year, to the programs, which implement the City's overall policies. The budget also establishes financial policies to influence the availability of future resources to carry out the City's policies. The annual budget is a balanced budget with legal budgetary control at the fund level; i.e., expenditures and other financing uses may not exceed budgeted appropriations at the fund level. The City's basic policy document is its Comprehensive Plan. This Plan sets the basic vIsion for the development of the City and establishes policies and programs intended to achieve that vision. The Plan is further articulated by a series of planning elements, which include capital improvement elements (such as utility plans), policy elements (such as housing plans, economic development programs, etc.) and regulatory measures. According to state law the Comprehensive Plan is amended annually to incorporate changes in policies or programs. CITY POLICY FRAMEWORK COMPREHENSIVE PLAN IMPLEMENTATION PROGRAM COMPLETED ACTIONS (AS OF DECEMBER, 2003) Capital Facilities Plan 2004-2009 SCHEDULED ACTIONS (2003-2004) GMA Comprehensive Plan Update Capital Facilities Plan Update Comprehensive Transportation Plan Update including non-Motorized plan Community Development Block Grant Consolidated Plan Update ANNUAL FUNDING PROGRAM Annual City Budget Community Development Annual Consolidated Plan Capital Facilities Plan Page 27 2004 Final Budaet Section III: Budaet Policies Budget Policy Development The budget process is linked to this policy framework by the annual development of Council Goals. They relate the overall program to annual objectives funded by the budget, which govern the activities of various departments in the implementation of the policy. The Capital Facilities Plan, which is derived from the Comprehensive Plan, is funded annually in the budget process. Budget policy development involves several distinct steps. This policy starts with an understanding of needs and issues, describes explicit policies governing the development and management of financial resources, identifies general goals, sets priorities with which to apply the available funding tools, and concludes with specific funding proposals. In assessing issues and needs, this policy builds on actions taken in previous budgets, thereby providing continuity with previous programs. This allows community needs to be addressed on a multi-year basis, rather than attempting to satisfy all needs in one year. Explicit budget policies are statements, which describe how financial resources of the City are obtained (various taxes, fees, rates, etc.) together with how they are allocated, managed, and controlled. The goals are policy statements that outline the significant program objectives of the City, which are to be funded. Budget priorities are policy statements expressing how the limited available resources are allocated between competing needs and programs. Budget initiatives are policy statements summarizing the actions that are to be implemented in the budget. These budget policies result from an ongoing process of economic and financial analysis by the Finance Department. The periodic financial reports, which are routinely reviewed by the Mayor and the Council Finance Committee, monitor progress against this analysis. The development of the Comprehensive Annual Financial Report (CAFR) is also an important part of the analysis process. The financial management policies result from combining the above analysis with Generally Accepted Accounting Principles (GAAP). Needs Assessment The Auburn Community The City of Auburn is located in southern King County and the northern Pierce County; the two most populous counties in the State. It is strategically located in relation to the labor and consumer markets of these two metropolitan counties. The City serves approximately 45,000 people within its incorporated limits, and another 40,000 to 45,000 people who reside in the adjacent unincorporated area considered to be within the Auburn community. The City of Auburn was incorporated in 1891 and operates as a non-charter code city under the laws of the State. The city began as a small. rural community with an economy based on agriculture and a railroad yard and center. During the 1960' sand 1970' s the city grew rapidly, both in population and in area. This growth not only consisted of residential development, but also included substantial industrial and commercial development. The largest employer in the City is the Boeing Co., employing an estimated 5,000 people in its Auburn plant. The City's total assessed valuation in 2003 was $4.421,855.481. In 2003, the City employed 447 people (on a full-time equivalency basis) providing a full-range of municipal services. These services include: police and fire protection, municipal court services, parks, recreational and cultural services, land use management and development regulation, street maintenance and construction, water services, sanitary sewage collection, storm drainage management, solid waste collection, a general aviation airport, a municipal cemetery, and a golf course. The City's water and sewage utilities also serve large areas of the adjacent unincorporated area. The structure of the City is described in Section V. City Operations. Page 28 2004 Final Budaet Section III: Budaet Policies Other local governmental services are provided by other governmental entities serving the Auburn area, and these services are not included in Auburn's budget. The Auburn School District provides public educational services to the city. Green River Community College is located outside the City limits, but within its water and sewer service area. King County provides solid waste disposal, public transportation, regional sewage treatment, property assessment and tax collection, some judicial services, public health services, and other county services to the City and its residents. The King County Housing Authority, for the most part, provides housing services. Sound Transit began commuter rail service in 2000 in the Puget Sound region, with a train/bus station located in the City of Auburn. The City's economy reflects that of the surrounding region. One of King County's leading industries is the Boeing Co., a worldwide supplier of commercial and military aircraft and related products. The Boeing Company in the Seattle/Tacoma area employs close to 62,000 people, and several of Boeing's facilities are located within easy commuting distance for City residents. The Auburn plant, where the company's fabrication operations take place, supplies the commercial air fleet with spare parts. During the past 12 months, Boeing has reduced staff company wide in the wake of the terrorist attacks and the declining demand for commercial airplanes. Approximately 28,000 jobs have been lost in the Puget Sound area since 2000. Locally in Auburn, almost 5,000 jobs have been cut since 1998. Most of the City's manufacturing jobs are at this plant. Boeing currently provides approximately 17% of the City's assessed value, down from 24% in 2001, as the company sells of land and office space in Auburn. Retailing has also become a significant factor in Auburn's economy. Auburn has been a center for automotive sales for many years. In 2002, automotive sales represented 24% of total sales tax collection, up from 23% in 2001. In previous years the City has experienced tremendous growth in the sale of wholesale durable goods, which currently represents 14% of total sales tax collection, down from 19% in 2001. The SuperMall of the Great Northwest and the ancillary development contribute over 17% of total sales tax collected. There are several building sites vacant but development around the SuperMall continues. Other enterprises that affect, or may affect, Auburn's economy include the Auburn Regional Medical Center, which added 350,000 square feet to their facility, downtown redevelopment, Lakeland Town Center, the sale and planned redevelopment of the Boeing property, and the Muckleshoot Indian Tribe's gambling casino. The Muckleshoot reservation is adjacent to the City and has increased in size by over one-third since 1999 as the tribe repurchases reservation land as it becomes available. Safeway, a large grocery food chain, purchased land in south Auburn from the Boeing Company to construct a regional distribution center. Construction began in the fall of 2003. The center will consist of two warehouses for dry goods and cold storage. The total square footage of both buildings is 1,275,000 square feet. The facility is estimated to create 200 new jobs and over 800 construction jobs. Boeing has also leased out most of their professional office space and adjoining warehouse to Zones, a nation wide business technology retailer. General Fiscal Environment Effective budget and financial policies should be developed gradually over a period of time in response to long-term fiscal and social-economic conditions. Accordingly, although this document responds to the 2004 budget, the City's financial policy framework has been developed in response to multi-year fiscal pressures. Page 29 2004 Final Budaet Section III: Budaet Policies General Fund Auburn's economy is generally cyclical following the economic cycles of the surrounding region. However, the economic down periods in the cycles have generally been less severe for Auburn than for other municipalities in the region due to the relatively stable nature of Auburn's economy. Auburn's economy has grown much faster than the State of Washington as a whole over the past decade, and its basic industries have been somewhat insulated from the economic downturns. Auburn's last severe down cycle ended in 1986 when the City was forced to reduce expenditures, and Auburn's last significant tax increase occurred at that time. At that point, adverse economic conditions coincided with the elimination of a number of State and Federal programs. Starting in 1987, an economic recovery together with sound financial practices allowed the City to accumulate surpluses despite significantly increased services. Commencing in 1991, the economy again flattened and continued in a limited growth mode through most of 1993. However, through careful control of expenditures, the City continued its established level of services without significant erosion of reserves. The economy began to strengthen in late 1993. The 1994 and 1995 budgets provided a few new programs and the building of adequate reserves against future economic downturns. Economic cycles are not the only determinants of revenues for municipal budgeting. Even with an up sloping economy, laws that determine who pays taxes and how much they pay can also have a major impact. In 1995 through 1997, the Washington State Legislature adopted several pieces of legislation, which have exempted selected businesses from the state sales tax. Although Auburn's economy remained strong during the 1997 fiscal period, these exemptions have impacted Auburn's sales tax revenues substantially, because Auburn has several manufacturing industries, including Boeing facilities. Although inflation is controlled and expenses are on or below budget, these altered revenue sources are having and will continue to have a substantial impact on Auburn's budget. Then again in 1998, 1999, and 2000 there were measures approved by the voters of the State of Washington that limited the ability of local governments to increase revenues and future taxing authority. Two of the measures were overturned in court and the last one, 1-747, was passed which limits property tax increases to the lesser of 1 % or inflation. The November 2002 ballot included Initiative 776 that will affect street construction revenue. The initiative was overturned in court and was being appealed at the State Supreme Court. In October of 2003 the Supreme Court upheld this initiative. The City will lose $450,000 annually of revenue that is dedicated for road improvements. Other significant concerns for the future are the demand for services. In particular, public safety services will increase dramatically with continued development. During the past several years, the City saw most of its new development come from commercial construction. In 1997, there was a significant shift from commercial to residential construction and that pattern still continues. Due to mandatory sentencing guidelines required by the State, we have experienced over a 400% increase in the care and custody of prisoners since 1998. Alternatives to incarceration are being used, such as increasing the Home Monitoring Program and utilizing drug and alcohol rehabilitation programs. The General Fund must be budgeted and monitored very carefully during this period. Passage of the voter approved initiatives, other pending voter initiatives, and the recent slump in the economy have negatively impacted the general fund. Due to strong fiscal management in the previous years, available reserves are sufficient to maintain the current levels of service provided the down turn in the economy is neither deep or long. The City put a hold on increased services in the 2004 budget in effort to match declining revenues to costs increasing from inflation and long term labor contracts. Page 30 2004 Final Budaet Section III: Budaet Policies Other Funds The most significant issue for the proprietary funds (which account for the activities of the City utilities, cemetery, golf course, and airport) over the past several years has been ensuring that these entities are self-sufficient and needed capital projects are accomplished. The Water Fund has been under some pressure in the last several years due to increasing costs as well as increasing capital needs. A corrosion control program consisted of several major projects and was completed in 2002. Wholesaling water to neighboring communities is an important part of the water utility. The City fully supplies water to a neighboring city in addition to supplementing the supply of water for three other jurisdictions. With the listing of salmon on the Endangered Species List, ensuring water resources for the community has become a focus. The Sanitary Sewer Fund has seen its working capital increase during the last few years and operating income has also remained strong the last several years. The Storm Drainage Fund has completed significant capital projects during the last several years, with cash revenues generated from rates. Given the large construction cost of regional facilities, a bond issue of over $2.0 million was issued in 1999. The utility adopted a Comprehensive Drainage Plan as an element of the City's comprehensive plan in 2002. The Golf Course Fund has provided facility improvements and upgrades over the past several years, primarily related to storm drainage problems. Green fees were increased regularly over the last few years. Also, the rounds of golf played each year continue to increase. The 2003 and 2004 budget provides for a study to determine the financial feasibility to construct a new clubhouse and snack bar. Budget Trends in Recent Years The expanding economy of the late 1980's left the City in strong fiscal shape. From 1991 through 2001 the City was in an economic upswing. The 1993 Budget avoided the addition of new programs and extended only those initiated in the 1992 Budget. The budget also supported a wide range of activity in the proprietary funds. The 1994 Budget emphasized basic services, growth management and maintaining quality of life. Inflationary pressures remained low and development processes began on two large projects as well as the thoroughbred racetrack. In 1995 and 1996, revenues were again budgeted conservatively due to the City's preference for actually receiving revenues before authorizing their use. Program improvements focused mainly on filling SuperMall-related service needs for police and fire protection and upgrading aging technology related to computers and telephones. It was anticipated that 1997 revenues would again be constant, but we saw an increase in the economy, which translated into increased revenues. Minor program additions were undertaken mid-year. During 1997, the voters approved a measure to annex to the King County Library System. Once again in 1998 we saw another boom economy, which resulted in increased revenues. Building permit activity exceeded 1997 levels by mid-summer of 1998. Sales tax revenue continued to be very strong and exceeded preliminary estimates for the third year in a row. During 1999 actual building permit activity was 40% less than the previous year, although the City saw significant increases in assessed valuation for property taxes. New construction activity reached its highest level with property values in excess of $100 million being added to the property tax roles. New construction activity and sales tax revenue leveled off in 2001, while energy tax receipts soared. Revenue growth in 2002 was guarded for sales tax and construction activity as the region slipped into a recession in late 2001. As expected, new Page 31 2004 Final Budaet Section III: Budaet Policies construction activity, as well as growth and expansion in our community subsided late 2001 and through 2002. Revenues in 2002 declined from 2001 by 5.8%. 2003 revenue is expected to exceed 2002 by 5% and 2004 is budgeted at the 2003 estimated level, but could grow up to 3.5% over 2003. Revenue growth is dependent on continued low interest rates and a recovering economy. Key Issues Affecting the 2004 Budget Process The next several years will bring many challenges for the City. In November 1999, the voters of the State of Washington passed Initiative 695. The State Legislature reacted to the initiative in the 2000 session by repealing excise tax on motor vehicles. Another initiative went before the voters in November 2001, limiting property taxes to the lesser of 1 % or inflation, and was successful. The City relies on property tax increases annually to support basic service levels in the General Fund; any future increases in the total dollars collected would have to go to a vote of the people. The General Fund has utilized reserves to balance the 2002, 2003 and proposed 2004 General Fund budget due to decreases in sales tax revenue from the struggling economy and the limits placed on property taxes. As is the case with most cities, the other major issue is the funding of our streets transportation system. While the City has enjoyed an increase in population growth and commercial and residential construction projects, the ability to provide ongoing preservation and maintenance of our system becomes more difficult, due to the sizable investment needed on an ongoing basis. Gridlocks exist along the major arterials of the City due primarily to a failing state highway system that has inadequate capacity for commuter traffic and forces traffic on to the City arterials. Phase I was completed on a rail system with a transit station in the downtown area to help alleviate transportation gridlocks on our highways. The tight labor market that had a dramatic impact on the City during the 1990's has eased tremendously as unemployment rates raise. As of September 2003, the unemployment rate nation wide was 6.1 %, with the regional rate at 6.4% and the State of Washington at 7.5%. All rates have increased over prior year. The City's fiscal planning effort over the past years has included efforts to accumulate reserves necessary for the City to weather a moderate recession. The increased revenues of the past few years should allow the Cumulative Reserve Fund to be maintained at around $4.4 million dollar level in the near future to hedge the City services against the continued revenue loss. Governmental Funds Over the last decade, the local economy has grown much faster than that of the state. The City's past economic development efforts should continue to payoff as more industrial sites are developed. The construction of the Auburn Market Place, which includes Lowe's Home Improvement Warehouse, the Lakeland Town Center, and Zones will add to the retail sales tax base and further diversify the City's economy. Additionally, the City has some of the remaining larger parcels of undeveloped land in the South Puget Sound Region. Warehousing and commercial businesses view the area as a desirable place to develop, because of the City's proximity to two major ports. As has been the case in the past, the demand for services, especially public safety continues to increase faster than available revenue. A wide range of factors, including growth and annexation of properties, in the areas adjacent to the City and changing social conditions brings about this increase. Other funding pressures include new legal requirements, labor relations and the shifting of the obligation for funding services from the county, state and federal governments to local governments. Rather than lessening, these pressures are expected to intensify in the coming decade. Unlike police and other services, which can expand gradually in response to community growth, fire services grow in steps as expensive new equipment or stations are brought on line. The City has continually Page 32 2004 Final Budaet Section III: Budaet Policies made significant investments in fire services. From 1991 to 1996, significant investments of over $1 million have gone towards replacing or refurbishing older equipment, and funding for additional fire equipment. In 1996, the budget added staff to the interim fire facility. 1997 included $290,000 to the capital equipment fund for fire equipment. A fire location study was completed in 1998 to guide the City in the siting of a third permanent fire station. The 1998 through 2003 budgets provided $2,870,000 for fire replacement equipment that partially funded the purchase of another fire truck and two aid cars. The City is currently in negotiations with a developer to construct a 28,000 square foot police and court facility. The proposed plan will restore a building on Main Street and meet the council vision and goal of a new public safety building for police and court, which have outgrown their current facility. The relocation of the police department and municipal court will free a prime building block north of city hall that is primarily owned by the City. Preliminary plans call for redevelopment including a parking garage and professional office space. Resolution of the City's increasing traffic congestion on major arterials is a priority. In addition to local funds, the aggressive pursuit of federal and state grant opportunities allowed several important street projects to move to completion in 2002. Two projects that have extended over several years are the construction for the C Street Southwest/State Route 18 westbound ramp realignment and the 277th corridor. Both projects were completed in 2002. Together the projects were over $71 million and were done in conjunction with other local governments. A neighboring jurisdiction took the lead on the 277th corridor project while the City focused on the completion of the 3rd street overpass. Another exciting project for the City was the completion of the Transit Center. This includes an area for a parking garage with transit-oriented development and a pedestrian walkway. The garage was completed in late 2001 and the pedestrian walkway and plaza were completed in early 2003. Other Funds Issues affecting the proprietary funds are changing. For the utilities, there is significant demand on expansion for growth related needs. While the utilities continue with projects to catch up on renewal and replacements, expansion activities such as construction of corrosion control facilities are also a high priority to the City. The storm drainage utility will continue retrofitting two public storm drainage facilities, responding to the Endangered Species Act listing of Puget Sound Chinook salmon and update the Storm drainage model to improve coordination with development applications. As noted above, there has been a major issue impacting the water and storm utilities. The Puget Sound region was faced with the listing of the Puget Sound Chinook salmon and the Bull Trout as "threatened" on the Endangered Species Act. Auburn, situated between two basin areas, could be substantially impacted, financially, by the listing of these rivers under ESA. The working capital balance in the solid waste utility remains healthy. A new contract for refuse service went into effect on January 1,2002. The contract provides curbside recycling, for the first time. Rates were finalized in 2001 and are structured to encourage recycling. Rates are being reviewed in the fall of 2003 to determine if increases will be required in 2004. Golf Course revenues have been used to rebuild holes and improve the drainage system. In 2003 hole number 12 was rebuilt and equipment was updated for maintenance purposes. The City has also hired a consultant to do a clubhouse and parking feasibility study. The study began late 2003 and will continue Page 33 2004 Final Budaet Section III: Budaet Policies into 2004. Hole number 13 will be rebuilt in 2004. Over the past 10 years the golf course fund has spent most of its available capital improving drainage, rebuilding cart paths and reconstructing holes so the course could be playable year round. With the completion of hole number 13 in 2004, there will be one hole remaining to be rebuilt. The Cemetery continues to operate on a firm self-supporting basis, although the fund is projected to have operating losses in 2003 and 2004. Recently, a new cemetery opened up nearby, providing free burials to veterans and spouses. This has had an impact on revenue, but as the region continues to grow, we anticipate an increase in revenue. Management is also studying options to provide different services that may be marketed. The Airport is operating as a self-supporting fund and has two projects planned in 2004; runway pavement rehabilitation and implementing the GPS/instrument approach system. The airport entered into several long-term site leases in 2001, which has resulted in development of the available building pads. The City is also working to hire private management to run the airport operations. A request for professional services was solicited in 2003 and a contract should be completed late 2003 or early 2004. The City Pension Services and Cemetery Endowed Care funds continue to grow in a manner that should provide adequately for the purposes of those funds. Grants and state gas tax revenues primarily fund the activity in the Arterial and City Street Funds. Other special revenue funds are supported by other taxes or grants that are for special purposes or activities. Capital project funds will continue to support street projects, the sound transit garage and retail space, long term funding of fire apparatus and down town revitalization. Reserves in the Insurance Fund are adequate to meet the intent of the fund. Significant long-term liability exists for health care of LEOFF 1 firefighters and police officers, but based upon actuarial valuation of the Fire Pension Fund and supplemental insurance policies; there should be sufficient reserves to cover the anticipated obligations. Financial Management Policies The following policies guide the manner in which the budget develops, allocates, manages and controls financial resources available to the City. These policies are fiscal principles or goals that the City seeks to achieve in its decision-making. However, since fiscal conditions and circumstances continually shift and change in response to operating needs, it may not be practical or always desirable to continually achieve these policies. Therefore, these policies are intended to guide, not govern, financial decision making and may not be fully achieved within any given budget year. Operating Policies 1. The City should accept ongoing service obligations in new areas of programming only when adequate funding is available. 2. Indirect administrative costs associated with the operations of funds should be identified and charged against the operation of those funds. 3. The City's role in social service funding shall continue to be supplemental (addressing special or unique local needs) to the basic responsibilities of regional agencies. Page 34 2004 Final Budaet Section III: Budaet Policies 4. The City shall continue to advocate that the responsibility for funding basic social service needs rests with regional (or broader) agencies that have access to a broader basis of funding and can more appropriately address needs on a regional basis. Accounting, Auditing and Financial Reporting 1. In accordance with the Governmental Accounting Standards Board (GASB) the financial structure of the City shall be divided into tax-supported governmental funds (including a General Fund to support the governmental services of the City), and self-supporting proprietary funds established for non- governmental purposes. Proprietary funds shall include a series of enterprise funds, which shall be managed as business enterprises, completely supported by revenues derived by that enterprise. 2. The accounts of the City and its operating budget shall be maintained in accordance with the State Budgeting, Accounting, and Reporting System (BARS) code and shall provide current financial data on request. 3. The State Auditor will annually perform a financial and compliance audit of the City's financial statements. Their opinions will be contained in the City's Comprehensive Annual Financial Report (CAFR), and the State Auditor's Report. 4. As an additional independent confirmation of the quality of the City's financial reporting, the City will annually seek to obtain the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting. The CAFR will be presented in a way designed to communicate with citizens about the financial affairs of the City. 5. Enterprise funds shall be budgeted on a flexible basis, which allows activities to expand and contract in accordance with increased or decreased revenue earning activity. 6. The City should adjust utility and other enterprise fund rates in increments adequate to offset inflation and to maintain adequate working capital balance and equities. 7. Depreciation shall be accounted for, and should be used, as a measure of capital development needs in the utilities. As such the first priority for the use of such funds should be in maintaining existing services. Costs incurred as a result of growth should be borne by new users, and extension of services to new users should be on the basis of an investment decision by which the capital expenses will be recouped by rate income from new users. Revenues 1. The City will seek to avoid dependence on temporary or unstable revenues to fund mainstream municipal services. 2. The City should avoid dependence on federal revenues to fund ongoing mainstream municipal services. 3. General Fund services should be supported by user fees to the extent appropriate for the character of the service and its user. 4. Grant funds or similar contractual revenue of a temporary nature are budgeted only if they are committed at the time of the preliminary budget. Otherwise, separate appropriations will be made during the year as grants are awarded or contracts made. 5. Revenue estimates for annual budget purposes should be conservative yet realistic. Reserves 1. The City will maintain a Cumulative Reserve Fund to provide counter-cyclical balance, to protect the City from unforeseen contingencies and to allow an accumulation of resources to finance foreseeable general governmental capital projects. 2. Each enterprise fund and the General Fund should maintain adequate fund balances or working capital to meet unexpected contingencies. The General Fund balance is to be maintained at a level Page 35 2004 Final Budaet Section III: Budaet Policies sufficient to meet the cash flow needs of the fund without borrowing. The current level for the General Fund is $3,722,900, or 8% of General Fund expenditures. The working capital balances of the water, sewer, and storm drainage funds should be maintained at over $1,000,000 each. Other Enterprise funds should maintain working capital balances of 20% of their operating and capital expenses. Cash Management and Investment Policies 1. The City investment practices shall be in accordance with administrative policies developed in accordance with Municipal Treasurer's Association standards. 2. Ongoing operations of City government shall be funded from ongoing revenues. An appropriate Tax Anticipation Note or Revenue Anticipation Note may support funds experiencing temporary cash deficits due to cash flow. Interfund loans may be provided at interest rates determined by current outside investments. Such loans should be paid back during the fiscal year. Capital Budget Policies 1. The burden for financing capital should be borne by the primary beneficiaries of the facility. 2. Long term borrowing for capital facilities should be considered an appropriate method of financing large facilities that benefit more than one generation of users. 3. The City will develop a multi-year plan for capital improvements as required by the Growth Management Act of Washington State. The Capital Facilities Plan will be updated annually and be financially constrained. 4. The City will maintain its physical assets at a level adequate to protect the City's capital investment and minimize future maintenance and replacement costs. The budget will provide for the adequate maintenance and the orderly replacement of the capital plan and equipment from current revenues where possible. 5. The City will continue to strive to rely on a strong local improvement district program for certain street, water, sewer, and storm drainage improvements. They will be funded with no protest covenants obtained from property owners whenever possible. 6. Enterprise fund working capital in excess of that needed for operations may be used for capital needs, in order to conserve the debt capacity of those funds for major facility expansions to meet future needs. Debt Policy 1. GO debt should be scheduled for repayment on the basis of the entire outstanding debt not just the individual issue; in a manner which seeks to reduce fluctuation in the total tax rate. 2. The City will strive to improve its bond ratings by improving its financial stability. 3. The City shall employ competent financial advisors and bond attorneys for all large bond issues. 4. The City shall employ a financial advisor for any bond issue over $1 00,000. Such financial advisor should be independent of any potential underwriter who may be associated with the issue. 2004 City of Auburn Vision for the Future City goals set the overall direction for the City, and as such, focus on priorities of program support and development. The 2004 Budget allocates the City's resources to implement these goals through a citywide work program. This work program is coordinated by this budget and administered by the Mayor. The direction of activities for various departments throughout the year is guided by the adopted goals. Each city department contributes towards the achievement of the goals. Specific objectives are then identified to facilitate accomplishment of each goal and form the foundation for development of departmental work program goals. Page 36 2004 Final Budaet Section III: Budaet Policies The City Council and Mayor set a new direction for the City by establishing a long term "Vision of the Future" in late 2002 and early 2003 to look ahead and vision what the City should look like in 15-20 years. The 2004 budget contains the beginning of the vision that the City Council and Mayor developed. Some of the visions and the strategies are as follows: I. Retain and Preserve Community Identity .:. Promote continuous community outreach by involving citizens and business in their City government. Lead Responsibility: Planning. .:. Continue efforts to partner, fund and enhance human services for families in need. Lead Responsibility: Planning. .:. Promote stability in both neighborhoods and the downtown. Lead Responsibility: Planning. .:. Ensure Auburn is a safe and secure place to live or have a business. Lead Responsibility: Police, Fire, Planning and Public Works. .:. Utilize code enforcement to maintain neighborhood quality. Lead Responsibility: Planning .:. Enhance neighborhoods through capital investment and maintenance. Lead Responsibility: Planning, Public Works and Finance. .:. Promote community identification and economic development by implementing a gateway and marketing program to attract new business. Lead Responsibility: Planning. .:. Continue to cooperate with groups and organizations to facilitate efforts to revitalize neighborhoods. Lead Responsibility: Planning, Parks and Public Works. II. Downtown Vision .:. Secure Urban Center designation from King County and Puget Sound Regional Council. Lead Responsibility: Planning .:. Complete the A street connection from the transit station to 15th Street SW to improve downtown access. Lead Responsibility: Planning and Public Works .:. Complete the connections from downtown to the Interurban and White River trails. Lead Responsibility: Parks and Public Works .:. Provide a permanent solution for water quality and quantity flowing from the downtown area. Lead Responsibility: Public Works and Planning. .:. Continue downtown revitalization efforts and research options for additional parking, lighting, drainage, and more pedestrian friendly atmosphere. Lead Responsibility: Planning and public works. .:. Encourage multi family development in the downtown area. Lead Responsibility: Planning III. Economic Development .:. Develop an economic marketing plan that focuses on bringing desired economic development to the community, and includes attracting small business. Lead Responsibility: Planning .:. Continue to pursue partnering opportunities with the Muckleshoot Tribe, school districts, railroads, service organizations, private enterprise, and the religious community to plan, develop and improve the auburn area for the benefit of all concerned. Lead Responsibility: Planning IV. Customer Service .:. Create a "One Stop Service" for most permits and promote uniform application requirements with the goal of promoting efficiency and higher levels of customer service. Lead Responsibility: Planning Page 37 2004 Final Budaet Section III: Budaet Policies V. Invest in Trails, Parks and Park Programs, Open Space, and Trees .:. Expand participation in youth activities, services, and opportunities for healthy, youth-adult involvement, including consideration of development of a citywide youth activity calendar. Lead Responsibility: Parks .:. Collaborate with other entities: schools, service clubs, and King County in their efforts to develop more opportunities for community youth. Lead Responsibility: Parks .:. Complete the Loops connecting the Green and White river Trails to the Interurban. Lead Responsibility: Parks. .:. Create a conservation and passive recreation corridor along Mill Creek. Lead Responsibility: Parks. .:. Pursue Tree City USA designation and undertake activities to improve the treescape. Lead Responsibility: Parks. .:. Restore White Lake. Lead Responsibility: Parks, Planning, Public Works. VI. Resolve Transportation Issues .:. Continue efforts to secure the necessary financing for the design of the Black Diamond bypass and "M" Street grade separation. Lead Responsibility: Public Works. .:. Continue efforts on corridor improvements: SR 164 link road; establish SR 167/1-405 as major regional route for capacity improvements; SR 18 hill climb lane and complete SR 167 interchange. Lead Responsibility: Public Works. .:. Complete I Street, B Street, and C Street corridors to 277th Street. Lead Responsibility: Public Works. .:. Develop a plan for local street preservation. Lead Responsibility: Public Works. Capital Facilities Planning In addition to specific projects discussed in the capital component of this budget, the Mayor and City Council identified capital projects/facilities in a 2003 workshop. Depending on the type of project, various departments are researching available options; working with consultants in optional locations/settings or compiling cost estimates. The identified projects in 2003 were: 1 . Public Safety Building 2. Community Center 3. Highway 164 Improvements (SR 164/SR 18 Bypass) 4. Land Acquisition for Future Needs 5. Non-Motorized Plan 6. Fire Stations, North and South 7. Gateway Improvements Additional Projects were identified in the 2004 budget planning session: 1. Park Development Plan (including Olsen Canyon and Jacobson Tree Farm parks) 2. Revitalize Neighborhoods (Terminal Park) 3. Develop New Neighborhoods (White Lake North East Auburn by I Street) 4. Develop Lake between Hwy 18 and 15th Street NW 5. Downtown Lighting Initiative 6. Auburn Way South Corridor Study for pedestrian friendly crossing Page 38 2004 Final Budaet Section III: Budaet Policies PROGRESS ON 2003 GOALS 1. Retain and Preserve Community Identity .:. Identify significant "community gateways" and develop a program for enhancing or implementing them that introduces the City to visitors in an attractive, meaningful presentation. Lead Responsibility: Planning Activities: Working committee has been formed. Gateway design is nearing completion and the site selections are underway. .:. Enhance neighborhoods with capital investment and work with groups within those areas to facilitate ongoing revitalization efforts. Lead Responsibility: Planning, Public Works, Police Department. Activities: Staff has met with the Terminal Park neighborhood and developed a revitalization plan. Parks is in the process of rehabilitating the neighborhood park and Public Works is designing walking paths and lighting for the neighborhood. Staff is scheduled for LID training course in the fall in preparation for possible LID improvements to streets or public facilities beyond City's ability to finance projects desired by neighborhoods in this revitalization project. Activities: Community Development Block Grant money has been secured to redevelop the wading pool into a water spray feature at Les Gove Park. Activities: Traffic staff implemented a test of traffic cushions in vicinity of the Auburn Library to determine the efficiency of such devices for traffic calming without impacting emergency vehicle access. Staff met with the community on H Street NE to review measures for reducing speeds. Follow up installation of new lane striping and rezoning for school zone designation with additional Police enforcement would appear to be making a difference. Activities: Staff has met with a selected neighborhood to develop a revitalization plan. Parks is in the process of rehabilitating the neighborhood park and Public Works is designing walking paths and lighting for the neighborhood. .:. Promote citizen and business involvement in City government with community outreach. Activities: City Council meetings have been held out in various locations of the City to encourage citizen involvement. .:. Ensure Auburn is a safe and secure place to own or have a business. Lead Responsibility: Planning, Public Works and Police Department Activities: City staff is working with a private developer to design and construct a new police station and courthouse in the downtown area. The plan is to renovate an existing building and provide 28,000 square feet for police and court services. The existing facility is less than half the proposed site. Activities: In addition to basic law enforcement services, the Auburn Police Department provides a wide variety of programs that encourage partnerships with the community. These programs include, DARE, Community Block Watch Meetings, Landlord Tenant Training, Citizens Academy, Crime Prevention, and our Volunteer Program. Feedback from these meetings provides Page 39 2004 Final Budaet Section III: Budaet Policies information that assists the Police Department in directed patrols to apprehend and deter criminal behavior, i.e. racer emphasis, DUI emphasis, and commercial burglary emphasis. .:. Cooperate with groups and organizations to facilitate efforts to stabilize neighborhoods in transition and support alternatives for those areas in need of revitalization. Lead Responsibility: Planning Activities: Staff developed a work program to commence neighborhood planning and revitalization in the Terminal Park neighborhood. Several meetings have been held and a plan developed. Funding is included in the 2003 and 2004 budget to improve the local park lighting and walking paths. Meetings will be ongoing with neighborhood groups and organizations to continue with the efforts the City has started. II. Downtown Vision .:. Secure Urban Center designation from King County and Puget Sound Regional Council. Activities: The designation is to be acted upon by the Growth Management Planning Committee (GMPC) in the fall of 2003 with King County ratifying in early 2004. .:. Complete the A street connection from the transit station to 15th Street NW to improve downtown access. Lead responsibility: Planning and Public Works Activities: Efforts to secure right of way (ROW) and construction cooperation from two adjoining landowners and to secure grant funding to leverage the project are on going. .:. Continue to be actively involved with Sound Transit in the design and construction of a transit hub located in the downtown area. Lead Responsibility: All Departments Activities: The transit station is substantially completed. The small lot referred to as the" Kiss and Ride" is scheduled for completion in 2004 with funds contributed by Sound Transit and the City doing the work. The city holds a 99-year lease on 14,000 square feet of retail space in the garage. A majority of the space is leased. The remaining space is being actively marketed. .:. Encourage multi family housing in the downtown area. Lead responsibility: Planning Activities: Staff prepared and Council approved an ordinance that allows multi family housing in the downtown area that will have certain property tax exemptions for 10 years. Activities: Staff worked with Low Income housing Institute (LlHI) to renovate the former JC Penny building into affordable housing. .:. Cooperate with the Chamber of Commerce, Auburn Downtown Association, individuals, businesses and citizen groups to develop a plan that will attract desirable business to the downtown area. Lead Responsibility: Planning & Public Works Activities: Staff continues to work closely with the various interest groups and associations in the city. Staff participates on local boards and volunteers their time to the enhancement of the downtown area. The City is participating in the support of the Small Business Center through Green River Community College. The center provides assistance to ensure the success of small businesses in the community. Monthly coordination meetings with ADA staff were initiated this year to improve coordination of routine event support needs by the City Street department. Page 40 2004 Final Budaet Section III: Budaet Policies .:. Improve crosswalks, lighting, parking and drainage in the downtown area and make it a more pedestrian friendly atmosphere. Lead responsibility: Public Works and Planning Activities: Parking improvements and expansions are being planned in conjunction with the relocation of the current police station and court. Completion of the Sound Transit" Kiss and Ride" lot is planned for 2004. Activities: Transportation staff has installed crosswalks at stop controlled intersections and is in the process of re-evaluating traffic flow in the downtown area to make improvement recommendations. Further study of the existing illumination infrastructure in the downtown is under way and will lead to an estimate of cost and scope for needed capital improvements. III. Economic Development .:. Commit resources necessary to develop a focused economic development program. Lead Responsibility: Planning Activities: Staffing resources have been allocated and a plan is being developed using in- house resources. A Mayor's community task force completed an exhaustive study to support and provide guidelines to facilitate continuing economic development within the city. IV. Customer Service .:. Create a "One Stop Service" for most permits and promote uniform application requirements with the goal of promoting efficiency and higher levels of customer service. Lead Responsibility: Planning Activities: The building department was merged into the planning department and now shares the same work area. A Permit Advisory Task Force consisting of current customers of the building department was created. Their work was completed in the summer of 2003 and final recommendations were made in the winter. Activities: Continued refinement of the Permit Trak software includes online access to permits in the system that will provide users with a quick and easy way to check on the status of permits. V. Investment in Trails, Parks and Park Programs, Open Space and Trees. .:. Expand youth activities, services, and opportunities for healthy, youth-adult involvement. Lead Responsibility: Parks Activities: Teens served on the Auburn Youth council program and along side adults in community events such as Clean Sweep, KidsDay and Good 01' Days. Through the Cities and Schools forum, the City worked with the Auburn School District, the cities of Algona and Pacific, and other youth service organizations on the "Reaching Out Fair" that recognizes the special relationships that exist between youth and adults. The City offers a wide variety of athletic, cultural enrichment and skill building opportunities for youth with volunteer assistance from adults. .:. Collaborate with other entities: schools, service clubs, and King County in their efforts to develop more opportunities for community youth. Lead Responsibility: Parks Page 41 2004 Final Budaet Section III: Budaet Policies Activities: The City is continuing to work closely with other organizations serving youths, such as YMCA, Auburn Junior Football. Auburn Youth Soccer, Auburn League and the Auburn School District. The Schools Forum, made up of elected officials and management from surrounding cities and schools have met on a regular basis to gain a better understanding of the overall needs of youths. The City recently received a $50,000 grant from King County to construct an additional baseball field at GSA Park. The City regularly collaborates with the Auburn School District, the YMCA, and City for facility use to offer Late Night programs for teens and family swims for citizens. .:. Plan trail to interconnect key community areas to the downtown and the existing trail network. Lead responsibility: Parks and Public Works. Activities: Joined with other departments on trail plans to be included in the update of the six year Transportation Improvement Plan (TIP). Involvement with schools, King County Metro, service clubs, property owners and the Muckelshoot Tribe will enhance efforts and opportunities for improving the community trail system. VI. Resolve Transportation Issues .:. Plan for implementation of the next phase of the Green River Trail. Lead Responsibility: Parks .:. Improve highway safety and ease congestion on major traffic corridors. Lead responsibility: Public Works. Activities: The City worked with the Adventist Academy, Muckelshoot Tribe, WSDOT, and the FAA that led to a resolution to continue a State study for alternatives to improve safety and capacity improvements for Highway 164 between Auburn & Enumclaw. The City obtained funding from the MIT, King County, and is awaiting the federal budget approval to complete the funding for a citywide Intelligent Transportation System (ITS) that will improve the traffic flow through the city's signal intersections. The City and Tribe will be seeking funding in the 2004 Legislative session to complete the State study. Staff and Mayor have been working with City of Kent to promote the need for further legislative support for freight mobility financing in future state budgets. Related to this project the city has conducted several neighborhood meetings with Green Valley residents and the residential area on the plateau. Activities: The City participated in Regional efforts for the RTID has resulted in SR 167 Corridor Improvements being added to the regional list of key projects for voter consideration in the Fall 2004 ballot measure .:. Develop a plan for local street preservation. Lead Responsibility: Public Works Activities: A chip seal program to preserve local streets was initiated in 2002. A contract to chip seal street segments in multiple locations of the City was let in the fall of 2002 for spring 2003 construction. This work has been completed and received positive community responses. The Street crew has given priority efforts in 2003 to preparation for the 2004 Chip Seal and crack sealing work program. The Auburn City Council adopted an ordinance to direct the interest earned in the Capital Improvement Fund to be used to implement a street preservation program. Page 42 2004 Final Budaet Section III: Budaet Policies .:. Construction of the White River Trail Phase 1. Lead Responsibility: Parks Activities: The project was completed and dedicated September 2000. This multi-use trail provides non-motorized access between Roegner Park and Game Farm Wilderness Park, as well as Riverside High School and IIlako Elementary. Additional property acquisition is being explored at this time to expand the trail. .:. Continue efforts to secure the necessary financing for the design of the Black Diamond bypass and "M" Street Grade Separation. Lead Responsibility: Public Works Activities: A pre-design report was completed in 2002 to define design issues and property impacts, evaluate alternatives, and establish preliminary project costs. A groundwater monitoring well has been installed to determine groundwater impacts. Grant applications for design funding remain pending. Staff continues to represent out freight mobility needs on this project to the Freight Mobility Committee and the Mayor, working with Mayor of Kent, has conducted several on site tours with key legislators to inform them of our continuing needs for financing this project as well as others. VII. Miscellaneous .:. Develop policies and strategies that make annexations affordable to both the existing and annexed properties. Lead Responsibility: Planning .:. Activities: Completed several small island annexations. Currently working on the possibility and feasibility of annexing the Kent watershed property. The land exchange with Pacific continues and the continued study of the Lea Hill area annexation. .:. Continue to pursue efforts to ensure adequate water supply necessary to accommodate growth. Lead Responsibility: Public Works Activities: The City withdrew its application for primary groundwater rights for wells 6 and 7. This decision was compelled by the City's inability to address the technical complexities of the project within Washington State Department of Ecology-imposed time lines, and given the constantly changing array of legal. regulatory, policy, and biological conditions affecting both the White River and the state's water rights process. The water rights were being sought to assist the City, King County Water District # 111, and Covington Water District in meeting current and future water demands. All parties are continuing to pursue other opportunities for firm water supply. 2004 Budget Strategy The 2004 Budget will be implemented by a series of objectives regarding development of resources and their allocation to various competing demands. 1. A voiding the addition of permanent staff positions and reviewing replacement staff for essential need. Limiting new programs until economic conditions or revenue streams capable of supporting them are in place, particularly in the light of Initiative 747 and the downturn in the economy. 2. Conserving the fiscal capacity of the City to meet potential future needs. 3. Using reserve funds to finance capital equipment that maintains or enhances productivity. Page 43 2004 Final Budaet Section III: Budaet Policies 4. Controlling discretionary expenses, such as travel. 5. Providing adequate training, and increasing technology and tools to enhance productivity. 6. Maintaining a baseline of funding which continues to deliver high quality municipal services with special attention to: a. Continuing support of growth management. b. Maintaining effective law and justice services. c. Supporting a diversity of recreational and cultural programs. 7. Providing staff support and funding for street maintenance repair and improvements to meet planning requirements and benefit from available funding opportunities. 8. Enhancing the capacity of the infrastructure where funding opportunities exist by giving priority to providing necessary matching funds. 9. Continuing operation of the City's enterprise functions on a business basis. 10. Exploring all opportunities for economic development that will provide a return to the City of Auburn. Use of Budget Tools This budget uses a variety of tools to implement these objectives: Financial Measures Each budget of the City of Auburn places a high priority on maintaining the fiscal integrity of the City by managing reserves to counterbalance economic cycles while responding to emerging needs. During the long period of economic growth, revenue increases allowed both the opportunity to fund additional programs and to set aside reserves. When new programs are added, each is closely evaluated to ensure that it can be supported over the long run after the growth cycle ends. Temporary "growth period" revenues can also be used for capital needs of a non-continuing nature. Enhanced revenue also can build reserves to provide counter-cyclical balance (e.g., a rainy day fund). The main purpose of such a reserve is to allow the City to respond to funding needs in an economic recession without having to resort to new taxes. The City has established a Cumulative Reserve Fund for both building revenues for major capital needs and to provide a counter-cyclical balance. The growth cycle subsided quickly as companies froze or reduced staff levels. Interest rates are at the lowest level in over 30 years. However, it is anticipated that the development of residential construction will continue due to low interest rates, but at a much slower rate. The need for services has and will continue to be substantial, particularly Police and Fire services. Some of these services are required before revenue is actually received from the developments. The challenge becomes to judiciously expand services at a rate, which provides reasonable coverage and protection to the public within the constraints of available revenue. New long-term funding commitments need to be avoided as much as possible until new revenue capacity develops. Consequently, the priority is on completing existing funding commitments and baseline needs, while carefully expanding services and protecting reserves. The 2004 budget does not expand any existing general government programs due to a declining revenue base. Page 44 2004 Final Budaet Section III: Budaet Policies Late 2003 the City put a freeze on filling vacant positions funded by the General Fund in an effort to stabilize and reduce expenses. The City also maintains an insurance reserve to supplement its on-going insurance program, to provide for the City's obligation for lifetime health care for LEOFF 1 police and fire personnel, and to maintain independence in the insurance market. The Insurance fund reserve is approximately $2.7 million, and no additional contributions were budgeted for 2004. Baseline Budget The baseline budget funds the City's ongoing operations. As such, it is an essential tool for implementing goals and elements of the strategy directed at continuing the existing array of services at a high-level of quality and efficiency. The budget strategy places a high priority on continuing to fund programs that will protect the City's ability to maintain and enhance quality of life and on programs that meet the continuing public safety needs of our neighborhoods. In 2004, these needs will be funded by the appropriate use of the existing capacity of City programs. Capital Improvement Fund The Capital Improvement Fund, established in 1993, is used to accumulate funds to finance large projects that could not otherwise be done in one year from General Fund revenues. Projects include major improvements to park facilities, acquisition of fire equipment and upgrades/acquisition of software and hardware systems. The fund is budgeted for $3.1 million of expenditures with an ending fund balance over $8 million for future projects identified in the Capital Facilities Plan. General Fund Priorities City General Fund revenues are forecasted conservatively, because of anticipated voter approved initiatives. Baseline expenditures were not increased for 2004 unless there was substantial need. Increases in salary and benefits and in contractual services were increased in accordance with union contracts. Revenue estimates are conservative and based on the 2003 revenue stream that is 5.6% more than the prior year. Economists in the region are predicting growth in late 2003 and into 2004. Costs may need to be reduced if revenues decrease from estimated amounts. The General Fund budget was developed under the following policy priorities: 1. No new programs until new revenue sources to support them are identified. 2. Protecting the City's long-term fiscal integrity and Moody's bond rating. 3. Maintaining productivity. 4. Enhancing efficiency and effectiveness. 5. Ensuring adequate and ongoing support for City programs and activities. 6. Providing training, adequate technology and tools to enhance productivity. 7. Funding priority planning needs to enhance or promote economic development within the City and enforce code compliance. 8. Maintaining programs directed at protecting the quality of life in the community and its neighborhoods. 9. Providing required matching funds for street improvements. 10. Seek out additional sources of revenue for street improvement and construction. 11. Funding continuing public safety needs; especially increases in prisoner custody. Page 45 2004 Final Budaet Section III: Budaet Policies Over the last five years there have been statewide measures that have limited local government ability to increase revenues. Many of these priorities are implemented in the development and review of the baseline budget proposals of the various departments. Proprietary Fund Priorities The budget priorities in the Proprietary Funds are a continuation of past budget priorities, which have generally placed these funds on a sound, self-supporting basis. Although the Water Fund has been under financial pressure, rate studies have provided equitable recommendations to resolve this problem. 1. Continuing operation of the funds on a self-supporting basis. 2. Maintaining the fiscal capacity of the utilities with appropriate measures. 3. Implementing programs and rates to encourage resource conservation, particularly in water usage. 4. Maintaining orderly development of capital facilities to meet needs. 5. Continuing measures to enhance productivity and maintain new facilities as they come on line. 6. Continuing programs that encourage greater recycling of our waste materials. 7. Focusing on capital projects that deal effectively with the City's growth. Other Funds Budget Priorities Fiduciary funds will be managed in a manner that continues to provide for their long-tem obligations. The Insurance Fund will provide for insurance independence if needed. Debt service funds will continue to retire debt as appropriate. No additional funds will be added to the LID Guarantee Fund in 2004, as the fund is considered adequate. 2004 Budget Initiatives Within these priorities and consistent with constricting revenues, the budget includes limited initiatives to further the development of City programs to meet the needs of this growing community. Program Development Initiatives by Baseline Adjustments 1. Improve efficiency by continuing to upgrade the City computer system including additions to the Home Page as resources permit. 2. Continue incarceration services and explore options that may reduce costs in the future. 3. Provide funds necessary to purchase additional fire equipment. 4. Continue to regularly evaluate, maintain and improve streets via chip seal and overlay projects. 5. Continue expansion of the community policing program including business watch. 6. Continue efforts to expedite permit processing actions. 7. Continue emphasis on construction of the storm drainage improvements. 8. Provide the matching funds for qualifying street improvements. 9. Continue enhancement of emergency preparedness programs. 10. Continue efforts to replace outdated park amenities. Additional Budget Issues For Study Continued attention will be focused on revenues associated with the sales tax exemption for selected industries. Federal and State Legislation that imposed additional requirements on the city without the associated funding commonly referred to as "unfunded mandates." During the 2003 legislative session, Page 46 2004 Final Budaet Section III: Budaet Policies cities requested relief for unfunded mandates related to criminal justice, Endangered Species Act and planning mandates, such as the Critical Area Ordinances. Another significant area of concern to the city is the desire to permanently bar sales and use tax on domestic and foreign goods purchased over the Internet. If this passes, we will see a reduction in sales and use tax as more and more retail sales migrate to the Internet. Auburn will be vigilant in ensuring that the state and federal government continue to hear of the effects of their actions upon local revenues. Lastly, we will evaluate our basic service levels of governmental operations to determine if any of them need to be eliminated, modified, or reduced in order to deal with the long-term potential impacts of 1-747 and the slow down in the economy. The evaluation process will be initiated at the division level up to the Mayor and then onto the City Council. Page 47 2004 Final Budaet Section III: Budaet Policies General Fund Budget Summary The General Fund budget is a particularly important part of the budget, since it allocates financial resources derived from the City's taxing powers. As such, the content of this budget is a major policy decision itself. The following table summarizes the proposed General Fund baseline budget. Baseline expenses are those expenses that are necessary to maintain existing programs. The top part of the table summarizes the revenues that are anticipated to be available next year. These revenues are those expected to be provided within the existing revenue authority as established by current City ordinances. All revenue growth illustrated will be due to increased growth or activity and includes both modest factors for new construction activity occurring in 2004 and the anticipated effects of the sales tax exemptions discussed elsewhere in this budget. The Financial Plan, section IV, of the budget describes the revenues and expenditures of the General Fund in more detail, along with various other funds of the budget. Revenue & Expense Summary: General Fund 2001 2002 2003 2003 2004 Actual Actual Adj Budget Est Actual Budget Revenues: Beginning Balance $ 15,288,352 $ 17,279,327 $ 15,676,552 $15,676,552 $13,913,300 Tax Revenue 32,812,677 31,295,717 31,082,020 32,077,900 32,638,000 Licenses & Permits 1,120,433 973,410 914,100 1,053,300 940,000 state/County Shared 2,059,441 2,046,809 1,566,100 1,937,867 1,798,400 Charges For Services 1 ,502,199 1 ,409,783 1,597,500 1,890,600 1,673,000 Fines & Forteits 623,427 763,839 652,800 828,900 760,800 Miscellaneous 1,1 01,953 682,470 688,400 679,750 760,000 Other Financing Sources 847,313 852,511 2,920,400 1,135,000 760,000 Total Revenues $ 55,355,795 $ 55,303,866 $ 55,097,872 $ 55,279,869 $ 53,243,500 $ Change $ (1,763,252) 1,555,980 25,900 232,300 75,500 108,000 71,600 (2,160,400) $ (1,854,372) Expenditures: Salaries & Wages $ 18,739,440 $ 20,309,384 $ 22,602,190 $20,904,482 $ 23,404,800 $ 802,61 0 Benefits 4,183,366 4,668,887 6,287,373 5,878,970 6,552,600 265,227 Supplies 1,364,978 1,245,080 1,624,130 1,519,730 1,544,800 (79,330) Other Charges 5,457,295 5,986,021 8,703,577 8,324,577 8,155,100 (548,477) Inter-Governmental 6,269,114 5,166,758 4,128,205 2,263,805 3,345,700 (782,505) Capital Outlays 941,694 1,212,790 1,775,820 1,134,120 1,773,200 (2,620) Debt Service: Principal 134,000 134,000 139,000 5,000 Debt Service: Interest 117,000 117,000 111,1 00 (5,900) Intertund Services 1,120,581 1,038,394 1,089,885 1 ,089,885 1 ,509,800 419,915 Total Expenditures 38,076,468 39,627,314 46,462,180 41 ,366,569 46,536,100 73,920 Ending Fund Balance 17,279,327 15,676,552 8,635,692 13,913,300 6,707,400 (1,928,292) Total $ 55,355,795 $ 55,303,866 $ 55,097,872 $ 55,279,869 $ 53,243,500 $ (1,854,372) Page 48